Document:

EX-10.3

 Exhibit 10.3 
 STOCK ISSUANCE AGREEMENT 
 THIS STOCK
ISSUANCE AGREEMENT (“Agreement”) is made and entered into as of October 5, 2012 (the “Effective Date”), by and among Fibrocell Science, Inc., a Delaware
corporation (the “Company”) and Intrexon Corporation, a Virginia corporation (“Intrexon”). 

A. Concurrently with the execution of this Agreement, the Company is entering into an Exclusive Channel Collaboration Agreement
with Intrexon (the “Channel Agreement”), pursuant to which Intrexon is licensing the rights to certain technology to the Company; and 
 B. In consideration of Intrexon’s license to the Company under the Channel Agreement, the Company has agreed to issue to Intrexon certain shares of the Company’s common stock, par value
$0.001 per share (“Common Stock”) in accordance with the terms and conditions of this Agreement. 
 C. At the
Closing (as hereinafter defined), the parties have agreed to enter into a Registration Rights Agreement in the form attached hereto as Exhibit A (the “Rights Agreement”). 

NOW THEREFORE, in consideration of the mutual covenants contained in this Agreement and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the Company and Intrexon hereby agree as follows: 
 SECTION 1. AUTHORIZATION
OF ISSUANCE OF SHARES. 
 1.1 Technology Access Fee
Shares. Subject to the terms and conditions of this Agreement, the Company has authorized the issuance to Intrexon of that number of shares of the Company’s Common Stock having a Fair Market Value of $3,293,800 (“Technology
Access Fee Shares”) at the Technology Access Fee Shares Closing (as hereinafter defined). 
 1.2 Calculation
of Fair Market Value. “Fair Market Value” will be determined by (i) the mutual agreement of Company and Intrexon, or, (ii) if the parties cannot agree as to the Fair Market Value prior to the Closing, then Fair Market
Value will be established by the lowest share price for Common Stock paid by Third Security LLC, or its affiliates, in an equity financing that occurs immediately prior to, immediately following, or contemporaneously with, the Closing (the
“Equity Financing”). The number of shares providing the Fair Market Value as determined under this Section 1.2 shall be rounded down to the nearest whole number of shares. 

1.3 Capital Adjustments. If after the date hereof and prior to the date the Technology Access Fee Shares are issued
(i) the outstanding shares of the Company’s Common Stock shall be subdivided or split into a greater number of shares or a dividend in Common Stock shall be paid in respect of such Common Stock or (ii) the outstanding shares of Common
Stock are combined, then all share quantities in this Agreement not yet issued shall be appropriately adjusted to reflect such stock split, stock dividend or conjunction. 
 SECTION 2. CLOSING AND DELIVERY 

2.1 Issuance of Technology Access Fee Shares. Subject to the terms and conditions of this Agreement, the Channel
Agreement and in reliance upon the representations, warranties and agreements contained herein, the Company will issue to Intrexon the Technology Access Fee Shares. The Parties agree that the consideration received by the Company hereunder shall be
the execution and delivery by Intrexon of the Channel Agreement which consideration is at least equal to the par value of the Technology Access Fee Shares issued hereunder. 

 2.2 Closing. The closing of the issuance of the Technology Access Fee Shares
shall be held at the offices of the Company or at such other place as the Company and Intrexon may agree, and shall occur, subject to the conditions set forth in Section 9 hereof and applicable to the Technology Access Fee Shares Closing, on
such other date as Intrexon and the Company may agree upon but in no event later than October 12, 2012 (the “Technology Access Fee Shares Closing” or the “Closing”). 

2.3 Delivery of the Shares. Promptly following the Closing, the Company shall deliver to Intrexon a certificate
representing the Technology Access Fee Shares required to be issued the Closing, registered in the name of Intrexon. 
 SECTION 3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 
 Subject to and except as set forth in the SEC Documents, the Company hereby represents and warrants to Intrexon as of the date hereof as follows: 

3.1 Organization, Good Standing and Power. The Company is a corporation duly incorporated, validly existing and in good
standing under the laws of the State of Delaware and has the requisite corporate power to own, lease and operate its properties and assets and to conduct its business as it is now being conducted and as described in the reports filed by the Company
with the Securities and Exchange Commission (the “Commission”) pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), since the end of its most recently
completed fiscal year through the date hereof, including, without limitation, its most recent report on Form 10-Q. The Company does not have any subsidiaries other than those identified in its most recent report on Form 10-Q. The Company is
qualified to do business as a foreign corporation and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except for any jurisdiction(s) (alone or in the
aggregate) in which the failure to be so qualified will not have a Material Adverse Effect. For the purposes of this Agreement, “Material Adverse Effect” means any effect on the business, operations, properties or financial
condition of the Company that is material and adverse to the Company, taken as a whole, and any condition, circumstance or situation that would prohibit the Company from entering into and performing any of its obligations hereunder. 

3.2 Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and perform this
Agreement and to issue the shares in accordance with the terms hereof. The execution, delivery and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly and validly authorized
by all necessary corporate action, and no further consent or authorization of the Company, its board of directors or stockholders is required, except pursuant to Section 8. When executed and delivered by the Company, this Agreement shall
constitute a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, moratorium, liquidation, conservatorship,
receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application. The Company’s board of directors, at a meeting duly called and
held, adopted resolutions approving the transactions contemplated hereby, including the issuance of the Technology Access Fee Shares. 
 3.3 Issuance of Shares. The shares to be issued and sold hereunder have been duly authorized by all necessary corporate action and, when issued in accordance with the terms hereof, will be
validly issued, fully paid and nonassessable. In addition, such shares will be free and clear of all liens, claims, charges, security interests or agreements, pledges, assignments, covenants, restrictions or other encumbrances created by, or imposed
by, the Company (collectively, “Encumbrances”) and rights of refusal of any kind imposed by the Company (other than restrictions on transfer under applicable securities laws) and the holder of such shares shall be entitled to all
rights accorded to a holder of Common Stock. As of October 4, 2012, 99,194,988 shares of the Company’s Common Stock are issued and outstanding. 

  
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 3.4 No Conflicts; Governmental Approvals. The execution, delivery and
performance of the Agreement by the Company and the consummation by the Company of the transactions contemplated hereby do not and will not (i) violate any provision of the Company’s Articles of Incorporation or Bylaws, each as amended to
date, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company is a party or by which the Company’s properties or assets are bound, or (iii) result in a violation of any federal,
state, local or foreign statute, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company or by which any property or asset of the Company is bound or affected, except for
such conflicts, defaults, terminations, amendments, acceleration, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect. The Company is not required under federal, state, foreign or local law,
rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement or issue and
sell the shares in accordance with the terms hereof (other than any filings, consents and approvals which may be required to be made by the Company under applicable state and federal securities laws, rules or regulations prior to or subsequent to
the Closing). 
 3.5 Commission Documents, Financial Statements. The Common Stock of the Company is registered
pursuant to Section 12(g) of the Exchange Act. During the year preceding this Agreement, the Company has timely filed all reports, schedules, forms, statements and other documents required to be filed by it with the Commission pursuant to the
reporting requirements of the Exchange Act (the “SEC Documents”). At the times of their respective filing, all such reports, schedules, forms, statements and other documents complied in all material respects with the requirements of
the Exchange Act and the rules and regulations of the Commission promulgated thereunder. At the times of their respective filings, such reports, schedules, forms, statements and other documents did not contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. As of their respective dates, the financial statements of
the Company included in the SEC Documents complied in all material respects with applicable accounting requirements and the published rules and regulations of the Commission or other applicable rules and regulations with respect thereto. Such
financial statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes
thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary statements), and fairly present in all material respects the consolidated financial position of the Company
as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). 

3.6 Accountants. BDO USA LLP, whose report on the financial statements of the Company is filed with the SEC in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2011, were, at the time such report was issued, independent registered public accountants as required by the Securities Act of 1933 and the rules and regulations
promulgated thereunder (together, the “Securities Act”). 
 3.7 Internal Controls. The Company
has established and maintains a system of internal accounting controls sufficient to provide reasonable assurances that: (i) transactions are executed in accordance with management’s general or specific authorization;
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles in the United States and to maintain accountability for assets; (iii) access to assets is
permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any
differences. 
 3.8 Disclosure Controls. The Company has established and maintains disclosure controls and
procedures (as such term is defined in Rules 13a-15 and 15d-15 under the Exchange Act). Since the date of the most recent evaluation of such disclosure controls and procedures, there have been no significant changes in internal controls or in other
factors that could significantly affect internal controls, including any corrective actions with regard to significant deficiencies and material weaknesses. The Company is in compliance in all material respects with all provisions currently in
effect and applicable to the Company of the Sarbanes-Oxley Act of 2002, and all rules and regulations promulgated thereunder or implementing the provisions thereof. 

  
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 3.9 No Material Adverse Change. Except as disclosed in the SEC Documents or as
a result of the Equity Financing (including any conditions precedent to completing such Equity Financing), since January 1, 2009, the Company has not (i) experienced or suffered any Material Adverse Effect, (ii) incurred any material
liabilities, obligations, claims or losses (whether liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) other than those incurred in the ordinary course of the Company’s business or (iii) declared,
made or paid any dividend or distribution of any kind on its capital stock. 
 3.10 No Undisclosed Events or
Circumstances. Except as disclosed in the SEC Documents, since January 1, 2009, except for the consummation of the transactions contemplated herein and the Equity Financing (including any conditions precedent to completing such Equity
Financing), to the Company’s knowledge, no event or circumstance has occurred or exists with respect to the Company or its businesses, properties, prospects, operations or financial condition, which, under applicable law, rule or regulation,
requires public disclosure or announcement by the Company but which has not been so publicly announced or disclosed. 

3.11 Litigation. No action, suit, proceeding or investigation is currently pending or, to the knowledge of the Company, has
been threatened in writing against the Company that: (i) concerns or questions the validity of this Agreement; (ii) concerns or questions the right of the Company to enter into this Agreement; or (iii) is reasonably likely to have a
Material Adverse Effect. The Company is neither a party to nor subject to the provisions of any material order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action, suit, proceeding or
investigation by the Company currently pending or that the Company intends to initiate that would have a Material Adverse Effect. 
 3.12 Compliance. Except for defaults or violations which are not reasonably likely to have a Material Adverse Effect, the Company is not (i) in default under or in violation of (and no
event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company under), nor has the Company received notice of a claim that it is in default under or that it is in violation of, any
indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any order of
any court, arbitrator or governmental body, or (iii) is or has been in violation of any statute, rule or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws, applicable to its
business, except in each case for such defaults or violations as would not have a Material Adverse Effect. 
 3.13
Intellectual Property. The Company and its United States subsidiaries (“Subsidiaries”) have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade
secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights as described in the SEC Documents as necessary or required for use in connection with their respective businesses and which the failure to so have
could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”). Neither the Company nor any Subsidiary has received, since the date of the latest audited financial statements included within the SEC
Documents, a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect.
To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable
security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other
entity of any kind. 

  
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 3.14 FDA Compliance. As to each product subject to the jurisdiction of the
U.S. Food and Drug Administration (“FDA”) under the Federal Food, Drug and Cosmetic Act, as amended, and the regulations thereunder (“FDCA”) that is manufactured, packaged, labeled, tested, distributed, sold, and/or
marketed by the Company or any of its Subsidiaries (each such product, a “Pharmaceutical Product”), such Pharmaceutical Product is being manufactured, packaged, labeled, tested, distributed, sold and/or marketed by the Company in
compliance in all material respects with all applicable requirements under FDCA and similar laws, rules and regulations relating to registration, investigational use, premarket clearance, licensure, or application approval, good manufacturing
practices, good laboratory practices, good clinical practices, product listing, quotas, labeling, advertising, record keeping and filing of reports. There is no pending, completed or, to the Company’s knowledge, threatened, action (including
any lawsuit, arbitration, or legal or administrative or regulatory proceeding, charge, complaint, or investigation) against the Company or any of its Subsidiaries, and none of the Company or any of its Subsidiaries has received any notice, warning
letter or other communication from the FDA or any other governmental entity, which (i) contests the premarket clearance, licensure, registration, or approval of, the uses of, the distribution of, the manufacturing or packaging of, the testing
of, the sale of, or the labeling and promotion of any Pharmaceutical Product, (ii) withdraws its approval of, requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising or sales promotional materials
relating to, any Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by the Company or any of its Subsidiaries, (iv) enjoins production at any facility of the Company or any of its Subsidiaries,
(v) enters or proposes to enter into a consent decree of permanent injunction with the Company or any of its Subsidiaries, or (vi) otherwise alleges any material violation of any laws, rules or regulations by the Company or any of its
Subsidiaries. The properties, business and operations of the Company have been and are being conducted in all material respects in accordance with all applicable laws, rules and regulations of the FDA. The Company has not been informed by the FDA
that the FDA will prohibit the marketing, sale, license or use in the United States of any product proposed to be developed, produced or marketed by the Company nor has the FDA expressed any concern as to approving or clearing for marketing any
product being developed or proposed to be developed by the Company. 
 3.15 Application of Takeover Protections.
The issuance of the Technology Access Fee Shares hereunder and Intrexon’s ownership thereof is not prohibited by the business combination statutes of the state of Delaware. The Company has not adopted any stockholder rights plan, “poison
pill” or similar arrangement that would trigger any right, obligation or event as a result of the issuance of such Technology Access Fee Shares and Intrexon’s ownership of such shares and there are no similar anti-takeover provisions under
the Company’s charter documents. 
 3.16 Listing and Maintenance Requirements. The Company is in compliance
with the requirements of the OTC Bulletin Board for continued listing of the Common Stock thereon. The issuance and sale of the shares hereunder does not contravene the rules and regulations of the OTC Bulletin Board. 

3.17 Private Placement. Neither the Company nor its Affiliates, nor any Person acting on its or their behalf, (i) has
engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with the offer or sale of the shares hereunder, (ii) has, directly or indirectly, made any offers or
sales of any security or solicited any offers to buy any security, under any circumstances that would require registration of the sale and issuance by the Company of the shares under the Securities Act or (iii) has issued any shares of Common
Stock or shares of any series of preferred stock or other securities or instruments convertible into, exchangeable for or otherwise entitling the holder thereof to acquire shares of Common Stock which would be integrated with the sale of the shares
to Intrexon for purposes of requiring registration of such shares pursuant to the Securities Act or for the purpose of any applicable stockholder approval provisions, including, without limitation, under the rules and regulations of any exchange or
automated quotation system on which any of the securities of the Company are listed or designated, nor will the Company or any of its subsidiaries or affiliates take any action or steps that would require registration of any of the shares under the
Securities Act or cause the offering of the shares to be integrated with other offerings. Assuming the accuracy of the representations and warranties of Intrexon, the offer and issuance of the shares by the Company to Intrexon pursuant to this
Agreement will be exempt from the registration requirements of the Securities Act. 
 3.18 No Manipulation of
Stock. The Company has not taken, and has no plans to take, in violation of applicable law, any action outside the ordinary course of business designed to, or that might reasonably be expected to, cause or result in unlawful manipulation
of the price of the Common Stock. 
 3.19 Brokers. Neither the Company nor any of the officers, directors or
employees of the Company has employed any broker or finder in connection with the transaction contemplated by this Agreement. The Company shall indemnify Intrexon from and against any broker’s, finder’s or agent’s fees for which the
Company is responsible. 

  
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 SECTION 4. REPRESENTATIONS, WARRANTIES AND
COVENANTS OF INTREXON. 
 4.1 Purchaser Sophistication. Intrexon
represents and warrants to, and covenants with, the Company that Intrexon (a) is knowledgeable, sophisticated and experienced in making, and is qualified to make decisions with respect to, investments in shares presenting an investment decision
like that involved in the acceptance of the shares pursuant hereto, including investments in securities issued by the Company and investments in comparable companies, and has requested, received, reviewed and considered all information it deemed
relevant in making an informed decision to purchase the shares, (b) Intrexon, in connection with its decision to purchase the shares, relied only upon the SEC Documents, other publicly available information, and the representations and
warranties of the Company contained herein. Intrexon is an “accredited investor” pursuant to Rule 501 of Regulation D under the Securities Act, (c) Intrexon is acquiring the shares for its own account for investment only and with no
present intention of distributing any of such shares or any arrangement or understanding with any other persons regarding the distribution of such shares; (d) Intrexon has not been organized, reorganized or recapitalized specifically for the
purpose of investing in the shares; (e) Intrexon will not, directly or indirectly, offer, sell, pledge, transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire to take a pledge of) any of the shares except
in compliance with the Securities Act and applicable state securities laws, (f) Intrexon understands that the shares are being offered and sold to it in reliance upon specific exemptions from the registration requirements of the Securities Act
and state securities laws, and that the Company is relying upon the truth and accuracy of, and Intrexon’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of Intrexon set forth herein in order to
determine the availability of such exemptions and the eligibility of Intrexon to acquire the shares, (g) Intrexon understands that its investment in the shares involves a significant degree of risk, including a risk of total loss of
Intrexon’s investment (provided that such acknowledgment in no way diminishes the representations, warranties and covenants made by the Company hereunder) and (h) Intrexon understands that no United States federal or state agency or any
other government or governmental agency has passed upon or made any recommendation or endorsement of the shares. 
 4.2
Authorization and Power. Intrexon has the requisite power and authority to enter into and perform this Agreement. The execution, delivery and performance of this Agreement by Intrexon and the consummation by it of the transactions
contemplated hereby have been duly authorized by all necessary corporate action, and no further consent or authorization of Intrexon or its board of directors or stockholders is required. When executed and delivered by Intrexon, this Agreement shall
constitute a valid and binding obligation of Intrexon enforceable against Intrexon in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation,
conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application. 

4.3 No Conflict. The execution, delivery and performance of this Agreement by Intrexon and the consummation by Intrexon of
the transactions contemplated hereby do not and will not (i) violate any provision of Intrexon’s charter or organizational documents, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which
Intrexon is a party or by which Intrexon’s properties or assets are bound, or (iii) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree (including federal and state securities
laws and regulations) applicable to Intrexon or by which any property or asset of Intrexon are bound or affected, except, in all cases, other than violations (with respect to federal and state securities laws) above, for such conflicts, defaults,
terminations, amendments, acceleration, cancellations and violations as would not, individually or in the aggregate, materially and adversely affect Intrexon’s ability to perform its obligations under the Agreement. 

4.4 Restricted Shares. Intrexon acknowledges that the shares when issued shall be restricted securities and must be held
indefinitely unless subsequently registered under the Securities Act or the Company receives an opinion of counsel reasonably satisfactory to the Company that such registration is not required. Intrexon is aware of the provisions of Rule 144
promulgated under the Securities Act which permit limited resale of stock purchased in a private placement subject to the satisfaction of certain conditions, including, among other things, the existence of a public market for the stock, the
availability of certain current public information about the Company, the resale occurring not less than one year after a party has purchased and paid for the stock to be sold, the sale being through a “broker’s transaction” or a
transaction directly with a “market maker” and the number of shares of the stock being sold during any three-month period not exceeding specified limitations. Intrexon further acknowledges and understands that the Company may not be
satisfying the current public information requirement of Rule 144 at the time Intrexon wishes to sell the shares and, if so, Intrexon would be precluded from selling the shares under Rule 144 even if the one year minimum holding period has been
satisfied. 

  
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 4.5 Stock Legends. Intrexon acknowledges that certificates evidencing the
Technology Access Fee Shares shall bear a restrictive legend in substantially the following form (and including related stock transfer instructions and record notations): 
 4.6 THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY. 

4.7 Brokers. Neither Intrexon nor any of the officers, directors or employees of Intrexon has employed any broker or finder
in connection with the transaction contemplated by this Agreement. Intrexon shall indemnify the Company from and against any broker’s, finder’s or agent’s fees for which Intrexon is responsible. 

SECTION 5. INDEMNIFICATIONS. 
 5.1 Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless Intrexon, its permitted assignees, officers, directors,
agents, Affiliates and employees, to the fullest extent permitted by applicable law, from and against any and all claims, losses, damages, liabilities, penalties, judgments, costs and expenses (including, without limitation, reasonable
attorneys’ fees and expenses) (collectively, “Losses”), arising out of or relating to any untrue or alleged untrue statement of a material fact contained in a Registration Statement (as defined in the Rights Agreement between
the parties of even date herewith) or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus or
supplement thereto, in the light of the circumstances under which they were made) not misleading, except (i) to the extent that such untrue statements or omissions are based upon information furnished to the Company by Intrexon expressly for
use in the Registration Statement; (ii) as a result of the failure of such indemnitee to deliver a prospectus, as amended or supplemented, to a purchaser in connection with an offer or sale; or (iii) the use by the indemnitee of an
outdated or defective prospectus after the Company has notified Intrexon in writing that the prospectus is outdated or defective, but only if and to the extent that following such receipt the misstatement or omission giving rise to such Loss would
have been corrected; provided, however, that the indemnity agreement contained in this Section 5.4 shall not apply to amounts paid in settlement of any Losses if such settlement is effected without the prior written consent of the Company,
which consent shall not be unreasonably withheld. 
 5.2 Indemnification by Intrexon. Intrexon shall indemnify and
hold harmless the Company, its directors, officers, agents and employees to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or relating to any untrue or alleged untrue statement of a material
fact contained in a Registration Statement or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or supplement
thereto, in the light of the circumstances under which they were made) not misleading, to the extent that such untrue statement or omission is contained in or omitted from any information regarding Intrexon furnished in writing to the Company by
Intrexon expressly for use in therein, and that such information was reasonably relied upon by the Company for use therein, or to the extent that such information relates to Intrexon or Intrexon’s proposed method of distribution of shares and
was furnished in writing by Intrexon expressly for use therein. Notwithstanding anything to the contrary contained herein, in no event shall the liability of Intrexon under this Section 5.5 exceed the net proceeds to Intrexon as a result of the
sale of shares pursuant to a Registration Statement in connection with which the untrue or alleged untrue statement or material omission was provided. 

  
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 SECTION 6. SURVIVAL OF REPRESENTATIONS,
WARRANTIES AND AGREEMENTS. 
 Notwithstanding any investigation made by any
party to this Agreement, all representations and warranties made by the Company and Intrexon herein shall survive the execution of this Agreement and the issuance to Intrexon of the Technology Access Fee Shares and shall terminate one (1) year
after the Technology Access Fee Shares Closing, provided, however, that the representations and warranties in Sections 3.1, 3.2, 3.3 and 3.4 shall survive for so long as Intrexon continues to hold any of the Technology Access Fee Shares issued
hereunder. No claim may be asserted against either party for breach of any representation or warranty contained herein, unless written notice of such claim is received by such party describing in reasonable detail and to the extent available the
facts and circumstances with respect to the subject matter of such claim on or prior to the date on which the representation or warranty on which such claim is based ceases to survive as set forth above. In no event shall any party be liable to the
other party for any punitive, incidental, consequential, special or indirect damages, including loss of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach of any representation or warranty
in this Agreement. 
 SECTION 7. COVENANTS. 
 7.1 Notifications. 
 (a) During the period prior to the
Technology Access Fee Shares Closing, the Company will promptly advise Intrexon in writing of (i) any Material Adverse Effect, or (ii) any notice or other communication from any third person or entity alleging that the consent of the third
person is required in connection with the transactions contemplated by this Agreement. 
 (b) Information received by
Intrexon pursuant to this Section 7.1 shall be considered “Confidential Information” as such term is defined in the Channel Agreement and Intrexon agrees to treat such information in accordance with the provisions of Article 7 of the
Channel Agreement. 
 7.2 Best Efforts. Each party will use its reasonable best efforts to satisfy in a timely
fashion each of the conditions to be satisfied by it under Section 8 of this Agreement. 
 7.3 No Poison
Pill. The Company will not adopt any stockholder rights plan, “poison pill” or similar arrangement, or adopt any anti-takeover provisions under its charter documents, that would trigger any right, obligation or event as a result of the
issuance of the Shares hereunder to Intrexon or Intrexon’s ownership of such Shares or the accumulation of shares of Common Stock acquired in the market by Intrexon or its affiliates. 

7.4 Approval. In each case where the Company determines that the approval of any exchange or other listing upon which the
Common Stock may be listed is required for the issuance of Common Stock to Intrexon, the Company shall use commercially reasonable efforts to secure such approval as promptly as possible. In the event, notwithstanding the foregoing obligation, the
Company is unable to secure the approval with respect to the issuance of any Shares to be issued hereunder, the Company shall negotiate the terms of an alternate form of consideration of equivalent value to such unissued shares. 

7.5 Further Assurances. Each of the Company and Intrexon shall do and perform, or cause to be done and performed, all such
further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as each other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement, the
Channel Agreement and the consummation of the transactions contemplated thereby. 

  
 8 

 SECTION 8. CONDITIONS TO CLOSING. 

8.1 The obligation hereunder of the Company to issue shares to Intrexon at each Closing is subject to the satisfaction or waiver,
at or before the Closing of the conditions set forth below. These conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion. 

(a) Accuracy of Intrexon’s Representations and Warranties. The representations and warranties of Intrexon shall be
true and correct as of the date when made and as of the Closing Date as though made at that time, except for representations and warranties that are expressly made as of a particular date, which shall be true and correct as of such date. 

(b) Performance by Intrexon. Intrexon shall have performed, satisfied and complied in all material respects with all
covenants, agreements and conditions required by this Agreement and the Channel Agreement to be performed, satisfied or complied by Intrexon at or prior to the Closing Date. 
 (c) Channel Partnership Agreement. The Channel Agreement shall have been entered into by the Company and Intrexon and shall be in full force and effect. 

(d) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by this Agreement. 

(e) No Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any governmental authority shall
have been commenced, and no investigation by any governmental authority shall have been threatened in writing against Intrexon or any of the officers, directors or Affiliates of Intrexon seeking to restrain, prevent or change the transactions
contemplated by this Agreement, the Channel Agreement or seeking damages in connection with such transactions. 
 8.2 The
obligation hereunder of Intrexon to receive Shares and consummate the transactions contemplated by this Agreement is subject to the satisfaction or waiver, at or before each Closing, of each of the conditions set forth below. These conditions are
for Intrexon’s sole benefit and may be waived by Intrexon at any time in its sole discretion. 
 (a) Accuracy of
the Company’s Representations and Warranties. Each of the representations and warranties of the Company in this Agreement shall be true and correct as of the Closing Date, except for representations and warranties that speak as of a
particular date, which shall be true and correct as of such date. 
 (b) Performance by the Company. The Company
shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement and the Channel Agreement to be performed, satisfied or complied with by the Company at or prior to the
Closing Date. 
 (c) Channel Partnership Agreement. The Channel Agreement shall have been entered into by the
Company and Intrexon and shall be in full force and effect. 
 (d) No Injunction. No statute, rule, regulation,
executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by this
Agreement or the Channel Agreement. 
 (e) No Proceedings or Litigation. No action, suit or proceeding before any
arbitrator or any governmental authority shall have been commenced, and no investigation by any governmental authority shall have been threatened in writing against the Company or any of the officers, directors or Affiliates of the Company seeking
to restrain, prevent or change the transactions contemplated by this Agreement, the Channel Agreement or seeking damages in connection with such transactions. 

  
 9 

 (f) Opinion. Counsel for the Company shall have delivered to Intrexon an
opinion letter containing legal opinions in a form reasonably acceptable to Intrexon. 
 (g) No Material Adverse
Effect. Since the date of this Agreement, there shall not have occurred any Material Adverse Effect. 
 SECTION 9.
NOTICES. 
 All notices or other communications which are required or permitted hereunder shall be in writing and addressed as
follows: 
  

			
	 If to the Company:
	  	Fibrocell Science, Inc.
		  	405 Eagleview Boulevard
		  	Exton, PA 19341
		  	Attention: Chief Executive Officer
		  	Fax No.: (484) 713-6001
		
	 If to Intrexon:
	  	Intrexon Corporation
		  	20358 Seneca Meadows Parkway
		  	Germantown, MD 20876
		  	Attention: Legal Department
		  	Fax No.: (301) 556-9902

 or to such other address as the party to whom notice is to be given may have furnished to the other party in writing in
accordance herewith. Any such communication shall be deemed to have been given when delivered if personally delivered or sent by facsimile (provided that the party providing such notice promptly confirms receipt of such transmission with the other
party by telephone), on the business day after dispatch if sent by a nationally-recognized overnight courier and on the third business day following the date of mailing if sent by certified mail, postage prepaid, return receipt requested.

 SECTION 10. MISCELLANEOUS. 
 10.1 Fees and Expenses. Each party shall pay the fees and expenses of its advisors, counsel, accountants and other experts, if any, and all other expenses, incurred by such party incident to
the negotiation, preparation, execution, delivery and performance of this Agreement. 
 10.2 Waivers and
Amendments. Neither this Agreement nor any provision hereof may be changed, waived, discharged, terminated, modified or amended except upon the written consent of the parties hereto. 

10.3 Headings. The headings of the various sections of this Agreement have been inserted for convenience of reference only
and shall not be deemed to be part of this Agreement. 
 10.4 Severability. If any provision hereof should be held
invalid, illegal or unenforceable in any respect, then, to the fullest extent permitted by law, (a) all other provisions hereof shall remain in full force and effect and shall be liberally construed in order to carry out the intentions of the
Parties as nearly as may be possible and (b) the parties shall use their best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the
purposes of such provision(s) in this Agreement. 

  
 10 

 10.5 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware as applied to contracts entered into and performed entirely in the State of Delaware by Delaware residents, without regard to conflicts of law principles. 

10.6 Counterparts. This Agreement may be executed in two or more counterparts (including by facsimile, PDF, or other means
of electronic communication), each of which shall constitute an original, but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and
delivered to the other parties. 
 10.7 Successors and Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto, provided that Intrexon shall not assign its rights or obligations hereunder unless Intrexon
assigns such rights in whole and not in part to an assignee of such rights and obligations which shall agree in writing with the Company to be bound by this Agreement. 
 10.8 No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns and is not for the benefit of, nor
may any provision hereof be enforced by, any other person. 
 10.9 Entire Agreement. This Agreement, the Channel
Agreement, the Rights Agreement and other documents executed and delivered pursuant hereto and thereto, including the exhibits, constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and
thereof. 
 10.10 Publicity. Except as otherwise provided herein or in the Channel Agreement, no party shall issue
any press releases or otherwise make any public statement with respect to the transactions contemplated by this Agreement without the prior written consent of the other party, except as may be required by applicable law or regulations, in which case
such party shall provide the other parties with reasonable notice of such publicity and/or opportunity to review such disclosure. The Company shall issue a press release announcing the transaction contemplated by this Agreement and the Channel
Agreement prior to the opening of the financial markets in New York City on the business day immediately following the date hereof. Such press release shall be substantially in the form mutually agreed to by the parties. 

10.11 Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with
the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply. 

  
 11 

 IN WITNESS WHEREOF, the
parties hereto have caused this Stock Issuance Agreement to be executed by their duly authorized representatives as of the day and year first above written. 
 FIBROCELL SCIENCE, INC. 
  

			
		
	By:	 	/s/ David Pernock
	Name:	 	David Pernock
	 Title:
	 	Chairman and Chief Executive Officer

  

			
	INTREXON CORPORATION
		
	By:	 	/s/ Jayson M. Rieger
	Name:	 	Jayson M. Rieger
	 Title:
	 	President Human Therapeutics Division,
		 	and Senior Vice President

 SIGNATURE PAGE FOR STOCK ISSUANCE AGREEMENT 

  
 12EX-10.4

 Exhibit 10.4 
 AMENDMENT AND CONVERSION AGREEMENT 
 This AMENDMENT AND CONVERSION
AGREEMENT (this “Agreement”), dated as of October 5, 2012, is entered into by and among Fibrocell Science, Inc., a corporation organized under the laws of the State of Delaware (the “Company”), and Context
Partners Fund, L.P. (“Context”), Focus Managed Accounts Fund Ltd. (Focus—Context Segregated Account) (“Focus”), Deerfield Special Situations Fund, L.P. (“Deerfield”), Deerfield Special
Situations Fund International, Ltd. (“Deerfield International”) and Akanthos Arbitrage Master Fund, L.P. (“Akanthos”, and together with Context, Focus, Deerfield and Deerfield International, the
“Holders”, and each individually a “Holder”). 
 W I T N
E S S E T H: 
 WHEREAS, pursuant to that certain Exchange Agreement dated
as of June 1, 2012 among the Company and the Holders, the Company issued to the Holders (i) those certain 12.5% Convertible Notes of the Company (the “Exchange Notes”) in the aggregate original principal amount of
$3,517,424.13, and (ii) those certain warrants (the “Exchange Warrants”) to purchase in the aggregate 14,069,696 shares of the Company’s common stock, par value $.001 per share (“Common Stock”), in each
case as set forth on Schedule 1 attached hereto, which Exchange Notes and Exchange Warrants were issued in exchange for 12.5% Promissory Notes originally issued to the Holders on or about September 3, 2009; 

WHEREAS, the Holders are also holders of those certain warrants (“Prior Warrants”, and together with the Exchange
Warrants, as amended and restated hereby, the “Warrants”) set forth on Schedule 2 attached hereto entitling them to purchase up to 6,789,163 shares of the Company’s Common Stock; 

WHEREAS, the Company is contemplating entering into a private placement capital raising transaction pursuant to which one or more
accredited investors will purchase in the aggregate at least 350 million shares of Common Stock at an effective per share sale price of at least $0.10, with no other securities being issued to such investors (the “Qualified
Financing”, it being understood that if the material economic terms of any such transaction vary substantially from the description herein, such transaction shall not constitute a Qualified Financing; it being further understood that
simultaneously with the closing of the Qualified Financing the Company will be entering into a strategic Exclusive Channel Collaboration Agreement with Intrexon Corporation pursuant to which it will be issuing Intrexon Corporation shares of Common
Stock, and only Common Stock, at a price no less than $0.10 per share, pursuant to terms substantially as disclosed to the Holders); and 
 WHEREAS, in connection with the Qualified Financing, the Company and Holders wish to amend the Exchange Notes, Exchange Warrants and Prior Warrants, and agree to conversion of the Exchange Notes,
on the terms and conditions set forth herein, effective as of the date of consummation of the Qualified Financing (“Effective Date”); 

 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Amendment and Conversion of Exchange Notes. 
 a. Balance.
Effective as of the Effective Date and prior to any conversion or redemption of the Exchange Notes, the aggregate outstanding balance due under the Exchange Notes shall equal $3,857,776.22, consisting of the original principal thereof plus interest
thereon through the scheduled Maturity Date (as defined therein), with the balance due each Holder as set forth on Schedule 1 attached hereto. 
 b. Payment. Within one (1) business day following the Effective Date, the Company shall redeem for cash the Exchange Notes held by Deerfield and Deerfield International by paying each such
Holder, by wire transfer of immediately available funds, the balance due beside such Holder’s name as set forth on Schedule 1 attached hereto (“Cash Payment”). Upon redemption of the Exchange Notes in accordance herewith,
(i) each redeemed Exchange Note shall be deemed paid and satisfied in full, cancelled and null and void, and (ii) each Holder thereof shall return its original redeemed Exchange Notes to the Company for cancellation. 

c. Conversion Price. Effective as of the Effective Date and prior to any conversion of the Exchange Notes, the Conversion Price
(as defined therein) shall be reduced, and only reduced, to equal $0.10 (as appropriately and equitably adjusted for any stock splits, stock dividends and similar events). 
 d. Conversion. Each of Context, Focus and Akanthos agree that, upon consummation of the Qualified Financing, it shall convert its Exchange Notes, effective as of the Effective Date, in full as set
forth in Schedule 1 attached hereto. Each such Holder is executing and delivering contemporaneously herewith a Notice of Conversion (as defined in the Exchange Notes) in order to so convert its Exchange Notes in accordance herewith, which Notices of
Conversion are attached hereto as Exhibit A. Within one (1) business day following the Effective Date, the Company shall issue and deliver to such Holders the applicable number of Conversion Shares due under such Notices of Conversion,
which Conversion Shares shall be duly authorized, validly issued, non-assessable, freely tradable and free and clear of all liens, claims, restrictions and legends and delivered via DWAC (as defined below). Upon such delivery of all such Conversion
Shares in accordance herewith and the Exchange Notes, (i) each Exchange Note that has been converted shall be deemed paid and satisfied in full, cancelled and null and void, and (ii) each Holder thereof shall return its original Exchange
Notes to the Company for cancellation. 
 2. Amendment of Exchange Warrants. 

a. Amendments. Effective as of the Effective Date, the Exchange Warrants shall be amended as follows: 

 

	 	i.	Exercise Price. The Exercise Price (as defined in the Exchange Warrants) shall be reduced, and only reduced, to $0.10 and shall only be adjusted thereafter as
set forth in the amended and restated Exchange Warrants; 

  
 2 

	 	ii.	Warrant Shares. In lieu of the increase in the number of Warrant Shares (as defined in the Exchange Warrants) that would have otherwise occurred as a result of
the Qualified Financing, the number of Warrant Shares for which each Exchange Warrant is exercisable shall instead be increased by 100%, as set forth on Schedule 1 attached hereto; 

 

	 	iii.	Term. The Termination Date (as defined in the Exchange Warrants) shall be extended until June 1, 2018; and 

 

	 	iv.	Subsequent Issuance Adjustment. Section 3(b) (Subsequent Equity Sales) shall be deleted from the Exchange Warrants and Section 3(c)
(Subsequent Rights Offerings) shall be amended as set forth therein. 

  

	 	v.	Cashless Exercise. The cashless exercise right shall not be available until after November 30, 2012. 

b. New Exchange Warrants. Within three (3) business days following the Effective Date, the Company shall issue, execute and
deliver to each Holder a new amended and restated Exchange Warrant, in the form of Exhibit B attached hereto, reflecting the foregoing and certain other amendments to the Exchange Warrants in substitution for the original Exchange Warrants. Promptly
following each Holder’s receipt of such amended and restated Exchange Warrant, such Holder shall surrender and return the original Exchange Warrant held by it to the Company. The amended and restated Exchange Warrants shall be deemed issued in
substitution for the original Exchange Warrants as of the Effective Date, notwithstanding that physical delivery of such amended and restated Exchange Warrants may not have yet been completed. 

3. Amendment of Prior Warrants; Consent to Amend Preferred Stock.  

 

	 	a.	The Company and Holders agree that the Prior Warrants shall be amended pursuant a separate Warrant Modification Agreement to be entered into with each Holder
substantially in the form of Exhibit C attached hereto, provided that no such Warrant Modification Agreement shall be effective unless and until the Effective Date occurs. 

 

	 	b.	To the extent any Holder owns shares of the Company’s Series D Convertible Preferred Stock, the Holder agrees to execute the Consent of Series D 6% Cumulative
Perpetual Convertible Preferred Stockholders to amend the terms of the Preferred Stock in the form attached as Exhibit D hereto. 

 4. Effectiveness. 
 a. Qualified Financing. This
Agreement shall not become effective unless and until the Qualified Financing is consummated on economic terms not more favorable to the investors therein than as described in the preamble hereto. This Agreement (including without limitation the
Notices of Conversion attached hereto) shall terminate and be of no force or effect if the Qualified Financing is not consummated on or prior to October 22, 2012. 

  
 3 

 b. Conditions Precedent. This Agreement shall further be subject to the following
conditions: 
  

	 	i.	Prior to the Effective Date, neither the Company nor any subsidiary thereof shall sell, grant or issue, or amend or reprice, or enter into any agreement to amend or
reprice, any Common Stock or Common Stock Equivalents (as defined in the Exchange Notes) at or to an effective price per share (including without limitation any conversion, exercise or exchange price) which is less than $0.10 (as appropriately and
equitably adjusted for any stock splits, stock dividends and similar events); 

  

	 	ii.	On or prior to the Effective Date, all outstanding shares of preferred stock of the Company shall have been converted into Common Stock at an effective conversion price
per share equal to or greater than $0.10 (as appropriately and equitably adjusted for any stock splits, stock dividends and similar events); 

  

	 	iii.	On or prior to the Effective Date, neither the Company nor any of its subsidiaries shall have incurred any indebtedness for borrowed money; 

 

	 	iv.	On or prior to the Effective Date, at least 95% of all outstanding warrants and options to directly or indirectly acquire shares of Common Stock, which warrants or
options contain ratchet anti-dilution provisions for adjustments due to issuances of equity-linked securities by the Company (based on underlying shares and excluding the amended and restated Exchange Warrants), shall have been amended to delete
such provisions; and 

  

	 	v.	The Company shall have complied in all material respects with all of the terms and conditions contained herein, and the Company’s representations and warranties
contained herein shall be true and correct in all material respects. 

 c. Guarantee. Contemporaneously
with the execution and delivery hereof, the Company shall cause its subsidiary and guarantor of the Company’s obligations under the Exchange Notes and Exchange Warrants, Fibrocell Technologies, Inc., to consent to the amendments contemplated
hereby by executing a copy of this Agreement. 

  
 4 

 5. Representations and Warranties. The Company hereby makes the
following representations and warranties to the Holders as of the date hereof and as of the Effective Date: 
 a.
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and the Exchange Warrants (collectively, “Transaction
Documents”) and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents by the Company and the consummation by them of the transactions contemplated hereby and thereby have
been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, its board of directors or its stockholders in connection therewith. The Transaction Documents have been duly executed by the
Company and, when delivered in accordance with the terms hereof will constitute the valid and binding obligations of the Company enforceable against the Company in accordance with their terms. 

b. No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company, and the consummation by the
Company of the transactions contemplated hereby, do not and will not (i) conflict with or violate any provision of the Company’s organizational documents, (ii) conflict with, result in a breach of or constitute a default (or an event
that with notice or lapse of time or both would become a default) under, result in the creation of any lien upon any of the properties or assets of such party pursuant to, or give to others any rights of termination, amendment, adjustment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument to which the Company is a party or by which any property or asset of the Company is bound or affected, except
to the extent such conflict, breach, default, lien or right would not reasonably be expected to result in a material adverse effect on the Company, or (iii) result in a violation of any constitution, statute, law, rule, regulation, order,
judgment, injunction, decree, ruling, charge or other restriction of any court or governmental authority to which the Company is subject or by which any material property or asset of the Company is bound or affected, except to the extent such
violation would not reasonably be expected to result in a material adverse effect on the Company. 
 c. Filings, Consents
and Approvals. The Company is not required to obtain any approval, consent, waiver, authorization or order of, give any notice to, or make any filing, qualification or registration with, any court or other federal, state, local, foreign or other
governmental authority or other person or entity in connection with the execution, delivery and performance by the Company of the Transaction Documents, which has not been obtained. No further approval or authorization of any stockholder, the Board
of Directors or others is required for the issuance of the Conversion Shares (as defined in the Exchange Notes) upon conversion of the Exchange Notes, the amendments to the Exchange Notes, Exchange Warrants and Prior Warrants contemplated hereby, or
the issuance of any Warrant Shares upon the exercise of Exchange Warrants. 
 d. Issuance and Reservation of Securities.
(i) All of the Conversion Shares and all of the shares of Common Stock into which the Warrants are exercisable (“Underlying Shares”) are duly authorized, and (ii) such Conversion Shares and Underlying Shares, when issued
in accordance with the terms of Exchange Notes and/or Warrants will be duly and validly issued, fully paid and nonassessable, free and clear of all liens and legends, eligible to be resold pursuant to Rule 144(b)(1) promulgated under the Securities
Act (with respect to the Warrants, only in the event of a cashless exercise), and, in connection with any conversion, exercise (with respect to the Warrants, only in the event of a cashless exercise) or resale are eligible to be delivered through
DTC’s Deposit and Withdrawal at Custodian system (“DWAC”). The Company has reserved, and shall at all times hereafter reserve, from its duly authorized capital stock for issuance upon conversion pursuant to the Exchange Notes
and exercise of the Warrants, at least 100% of such amount of shares of Common Stock as is equal to the amount of Conversion Shares and Underlying Shares into which each Holder’s and its affiliates’ Exchange Note(s) and Warrants are
convertible and exercisable (without regard to any limitations on ownership or conversion set forth therein). Immediately prior to the date hereof and without giving effect to the transactions contemplated by this Agreement, the authorized Common
Stock of the Company consists of 1,100,000,000 shares of Common Stock, of which less than 100,000,000 shares are issued and outstanding. 

  
 5 

 e. No Additional Consideration. Except as otherwise set forth herein, no
consideration has been offered or paid to any person to amend or consent to a waiver, modification, forbearance, exchange or otherwise of any provision of the Exchange Notes or to amend and/or restate any of the Warrants. Neither the Company nor any
of its subsidiaries has paid any commission or other remuneration, directly or indirectly, for soliciting the conversion of the Exchange Notes or the modifications of the Exchange Warrants and Prior Warrants. 

f. Private Placement. No registration under the Securities Act is required for the issuance of the Conversion Shares or any
Underlying Shares in accordance with the terms hereof and of the Exchange Notes or Warrants. 
 g. Holding Period for
Exchange Notes and Exchange Warrants. Pursuant to Rule 144 promulgated under the Securities Act, the holding period of the Exchange Notes, Conversion Shares, Exchange Warrants and the Underlying Shares underlying the Exchange Warrants, as
amended and restated (to the extent obtained through cashless exercise), shall tack back to September 3, 2009 (the original issue date of the original promissory notes for which the Exchange Notes were substituted), and the Company has not
received any consideration from the Holders since such date in connection with any amendment to such original promissory notes or the Exchange Notes or Exchange Warrants. The Company agrees not to take a position contrary to this paragraph. The
Company agrees to take all actions, including without limitation causing its legal counsel to issue and deliver to the Holders and the Company’s transfer agent any legal opinions necessary to cause the issuance of the Conversion Shares and the
Underlying Shares (to the extent obtained through cashless exercise) without restriction and not containing any restrictive legend without the need for any action by any Holder; provided that such counsel shall be permitted to rely upon the
representations of each Holder set forth in this Agreement and each Holder agrees to promptly notify the Company if any such representations cease to be true and correct; and provided further, that there shall be no right to any cashless exercise
until after November 30, 2012. The Company acknowledges and agrees that nothing further is required for a Holder to obtain unlegended, immediately saleable Conversion Shares via DWAC pursuant to Rule 144(b)(1)(i) promulgated under the
Securities Act upon the Effective Date, and the Company shall so deliver such Conversion Shares on or within one (1) trading day following the Effective Date. Without limiting any of the terms, conditions or covenants contained in this
Agreement or other documents, if at any time it is determined that any Underlying Shares are not freely tradable without restriction or limitation pursuant to Rule 144 following a cashless exercise of Warrants, then the Company shall promptly
register the resale of all Underlying Shares under the Securities Act by filing a registration statement with the SEC as soon as practicable (but in no event later than 30 days) and causing such registration statement to be declared effective as
soon as practicable (but in no event later than 90 days, which shall be increased to 120 days if the registration statement is reviewed by the SEC). 

  
 6 

 h. Public Company; Not Affiliate. So long as any Warrants are outstanding, the
Company shall (i) timely file (or timely obtain extensions in respect thereof and file within the applicable grace period) all reports and definitive proxy or information statements required to be filed by the Company under the Securities
Exchange Act of 1934, as amended (“Exchange Act”), (ii) shall not terminate its status as an issuer required to file reports under the Exchange Act (even if the Exchange Act or the rules and regulations promulgated thereunder
would otherwise permit such termination), and (iii) cause its Common Stock (including all Conversion Shares and Underlying Shares) to remain listed or quoted for trading on the OTC Bulletin Board, the Nasdaq Stock Market, the New York Stock
Exchange or the NYSE MKT; provided, however, that nothing herein shall prevent the Board of Directors of the Company from considering and approving, and the Company from consummating, any transaction with a bona fide third party that the
Board of Directors has determined in good faith to be in the best interests of the Company consistent with the directors’ fiduciary duties under Delaware law. 
 i. Equal Treatment. The Company has not, directly or indirectly, made any agreement or arrangement with any Holder relating to the terms or conditions of the transactions contemplated hereby except
as set forth in the Transaction Documents. 
 j. Survival. All of the Company’s representations and warranties
contained in this Agreement shall survive the execution, delivery and acceptance of this Agreement by the parties hereto. 

6. Representations and Warranties. Each Holder, severally and not jointly and as to itself only, makes to the
Company the following representations and warranties as of the date hereof and as of the Effective Date: 
 a. Such Holder is
an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with the requisite power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
to which it is a party and otherwise to carry out its obligations hereunder and thereunder. 
 b. Such Holder represents and
warrants that (i) such Holder is not, as of the date of this representation, and has not been for the last one hundred twenty (120) days, the beneficial owner of more than ten percent (10%) of any class of equity security of the
Company, or, otherwise been an “affiliate” as that term is used in Rule 144 promulgated under the Securities Act, (ii) no consideration has been offered or paid by such Holder to amend or consent to a waiver, modification,
forbearance, exchange or otherwise of any provision of the Exchange Notes or Warrants, (iii) such Holder has not paid any commission or other remuneration, directly or indirectly, for soliciting the transactions contemplated hereby, and
(iv) such Holder has not, directly or indirectly, controlled, been controlled by or been under common control with the Company. 

  
 7 

 c. Such Holder and its advisors, if any, have been furnished with all materials relating to
the business, finances and operations of the Company which have been requested by such Holder. Such Holder and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Such Holder understands that its conversion of
Exchange Notes involves a high degree of risk. Such Holder has sought such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to its entering the transactions contemplated hereby. 

d. Such Holder is the sole legal and beneficial owner of the Exchange Notes, Exchange Warrants and Prior Warrants described or
attributed to such Holder on Schedule 1 and Schedule 2 attached hereto, free and clear of all liens and encumbrances. 
 7.
Miscellaneous. 
 a. Material Non-Public Information. The Company shall, prior to 8:30AM on the trading day
following the Effective Date or as soon thereafter as is practicable, but in any event within the period of time required by Form 8-K, issue a current report on Form 8-K disclosing the material terms of the transactions contemplated hereby and
attaching this Agreement and all other related agreements hereto, including without limitation the form of amended and restated Exchange Warrant. The Company shall not at any time furnish any material non-public information to any Holder without
such Holder’s prior written consent. The Company represents and warrants that prior to the date hereof neither the Company nor any person acting on its behalf has provided any Holder or its counsel with any information that constitutes or might
constitute material, non-public information concerning the Company, except with respect to the Qualified Financing. 
 b.
Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable
shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Agreement so long as this
Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not
substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to
replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s). 

c. Multiple Holders. 
 i. The parties acknowledge and agree that the actions and obligations of each Holder hereunder are several and not joint with the actions and obligations of any other Holder and that no Holder shall be
responsible in any way for the representations, warranties, agreements, acts or omissions, or the performance or non-performance of the obligations, of any other Holder hereunder. Any and all rights granted to the Holders hereunder, at law or in
equity shall be enforceable by each such Holder independently, and it shall not be necessary (but may be permissible) for any other Holder to be joined as an additional party in any action for such purpose. 

  
 8 

 ii. The parties acknowledge and agree that (i) the Holders are not are
agents, affiliates or partners of each other, (ii) the Holders are not, under any circumstances, agreeing to act jointly, in concert or as a group with respect to any Exchange Notes, Conversion Shares, Warrants or Underlying Shares,
(iii) nothing contained in any document, and no action taken by any Holder pursuant thereto, constitutes or shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other kind of entity, or create a
presumption that the Holders are in any way acting or agreeing to act jointly, in concert or as a group with respect to the Exchange Notes, Conversion Shares, Warrants or Underlying Shares, any transactions, or any of their actions or obligations
under any documents (including without limitation the decision to acquire, dispose of or vote any securities), and (iv) the Company shall not assert any claim inconsistent with the foregoing. 

iii. The Company acknowledges and agrees, and each Holder represents and agrees, that (i) such Holder has
independently participated in the negotiation hereof with the advice of its own counsel and advisors, (ii) no other Holder has acted or will be acting as such Holder’s agent in connection with its acquisition, disposition or voting of any
securities or monitoring its investment therein, (iii) such Holder’s decision to enter this Agreement has been made by such Holder independently of any other Holder and independently of any information, materials, statements or opinions
regarding the Company which may have been made or given by any other Holder, and (iv) no Holder shall have any liability to any other Holder relating to or arising from any such information, materials, statements or opinions. The Company
represents and acknowledges that (A) for reasons of administrative convenience of the Company only and not because it was required or requested to do so by any Holder, (1) each Holder and its counsel may have communicated and may continue
to communicate with the Company through Peter J. Weisman, P.C., which represents only Context independently, and (2) the Company has elected to provide all Holders with the same terms hereunder, and (B) such procedures with respect to this
Agreement shall in no way create a presumption that the Holders are in any way acting jointly, in concert or as a group with respect to this Agreement or the Exchange Notes or Warrants or the transactions contemplated hereby. 

iv. Neither the Company nor any of its affiliates shall, directly or indirectly (a) offer or pay or cause to be paid
any consideration (immediate or contingent), whether by way of interest, fee, payment or reduced conversion, exercise or exchange price for redemption, conversion, exercise or exchange of the Exchange Notes or Warrants, or otherwise, to any Holder,
for or as an inducement to, or in connection with the solicitation of, any consent, waiver or amendment to or of any terms or provisions of any Exchange Notes or Warrants, unless such consideration is offered and, if accepted within 10 days of such
offer, paid to all Holders, or (b) redeem, in whole or in part, any Exchange Notes or Warrants unless such offer of redemption is made pro rata to all Holders on identical terms. For clarification purposes, this provision constitutes a
separate right granted to each Holder by the Company and negotiated separately by each Holder, is intended for the Company to treat the Holders as a class, and shall not in any way be construed as the Holders acting in concert or as a group with
respect to the purchase, disposition or voting of the Exchange Notes, Conversion Shares, Warrants or Underlying Shares or otherwise. 

  
 9 

 d. Expenses. Upon execution hereof the Company shall pay or reimburse to
Context’s legal counsel a non-refundable, non-accountable sum equal to $25,000 as and for legal expenses in connection with documentation of the transactions contemplated hereby. 

e. Counterparts. This Agreement may be executed in two or more counterparts and by facsimile signature, delivery of PDF images of
executed signature pages by email or otherwise, and each of such counterparts shall be deemed an original and all of such counterparts together shall constitute one and the same agreement. 

f. Governing Law. This Agreement shall be governed by and interpreted in accordance with laws of the State of New York, excluding
its choice of law rules. The parties hereto hereby waive the right to a jury trial in any litigation resulting from or related to this Agreement. The parties hereto consent to exclusive jurisdiction and venue in the federal courts sitting in the
southern district of New York, unless no federal subject matter jurisdiction exists, in which case the parties hereto consent to exclusive jurisdiction and venue in the New York state courts in the borough of Manhattan, New York. Each party waives
all defenses of lack of personal jurisdiction and forum non conveniens. Process may be served on any party hereto in the manner authorized by applicable law or court rule. 
 g. Further Assurances. Each of the Holders and the Company hereby agrees and provides further assurances that it will, in the future, execute and deliver any and all further agreements,
certificates, instruments and documents and do and perform or cause to be done and performed, all acts and things as may be necessary or appropriate to carry out the intent and accomplish the purposes of this Agreement. 

[Signature Page Follows] 

  
 10 

 IN WITNESS WHEREOF, this Agreement is executed as of the date first set forth above.

  

			
	 COMPANY:
	  	 
		
	FIBROCELL SCIENCE, INC.	  	 

  

			
	 By:
	 	 /s/ Declan Daly

	 Name:
	 	Declan Daly
	 Title:
	 	Chief Operating Officer

  

			
	 HOLDERS:
	  	 
		
	 CONTEXT PARTNERS FUND, L.P.
	  	
		
	 By: CONTEXT CAPITAL MANAGEMENT, LLC, as general partner
	  	

  

			
	         By:
	 	 /s/ Michael S. Rosen

	         Name:
	 	Michael S. Rosen
	         Title:
	 	Managing Member

  

					
	 FOCUS MANAGED ACCOUNTS FUND LTD.
	  		  	
			
	By: CONTEXT CAPITAL MANAGEMENT, LLC, as investment advisor	  		  	

  

					
	         By:
	 	 /s/ Michael S. Rosen

	         Name:
	 	Michael S. Rosen
	         Title:
	 	Managing Member

  

			
	 DEERFIELD SPECIAL SITUATIONS FUND, L.P.
	  	

  

			
	 By:
	 	 Deerfield Mgmt. L.P.

		 	 General Partner

		 	 By: J.E. Flynn Capital, LLC

		 	         General
Partner

  

			
	 By:
	 	 /s/ David J. Clark

	 Name:
	 	David J. Clark
	 Title:
	 	Authorized Signatory

  

			
	 DEERFIELD SPECIAL SITUATIONS FUND INTERNATIONAL, LTD.
	  	

  

			
	 By:
	 	 /s/ David J. Clark

	 Name:
	 	David J. Clark
	 Title:
	 	Authorized Signatory

  

			
	 AKANTHOS ARBITRAGE MASTER FUND, L.P.
	  	

  

			
	 By:
	 	 /s/ Michae Kao

	 Name:
	 	Michael Kao
	 Title:
	 	Manager

  
 11 

 Consented to by Guarantor under the Subsidiary Guaranty dated as of June 1, 2012:

  

			
	 FIBROCELL TECHNOLOGIES, INC., a Delaware corporation
	  	

  

			
	 By:
	 	 /s/ Declan Daly

	 Name:
	 	Declan Daly
	 Title:
	 	Chief Operating Officer

  
 12 

 SCHEDULE 1 

Cash, Conversion and Warrant Amounts 
  

																									
	 	  	12.5% Convertible Notes	 
	 	  	Orig. Principal	 	  	Conversions	 	  	Accrued Interest	 	  	 	 	  	Cash Paid on	 	  	Conversion at	 
	 	  	As of Issuance	 	  	To Date	 	  	through Maturity	 	  	Balance Due	 	  	Effective Date	 	  	$.10 on Eff. Date	 
	 Context Partners Fund, L.P.
	  	$	1,019,091.83	  	  	$	175,000.00	  	  	$	146,368.61	  	  	$	990,460.44	  	  	 	—  	  	  	 	9,904,604	  
	 Focus Managed Accounts Fund Ltd.
	  	$	436,123.35	  	  	$	50,000.00	  	  	$	66,686.11	  	  	$	452,809.46	  	  	 	—  	  	  	 	4,528,095	  
	 Deerfield Special Situations Fund, L.P.
	  	$	615,208.56	  	  				  	$	105,099.13	  	  	$	720,307.69	  	  	$	720,307.69	  	  	 	—  	  
	 Deerfield Special Situations Fund International, Ltd.
	  	$	839,185.19	  	  				  	$	143,362.17	  	  	$	982,547.36	  	  	$	982,547.36	  	  	 	—  	  
	 Akanthos Arbitrage Master Fund, L.P.
	  	$	607,815.20	  	  				  	$	103,836.09	  	  	$	711,651.28	  	  	 	—  	  	  	 	7,116,513	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Totals
	  	$	3,517,424.13	  	  				  	$	565,352.10	  	  	$	3,857,776.22	  	  	$	1,702,855.05	  	  	 	21,549,212	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

									
	 	  	Exchange Warrants	 
	 	  	Issued	 	  	Amended &	 
	 	  	6/1/2012	 	  	Restated (2x)	 
	 Context Partners Fund, L.P.
	  	 	4,076,367	  	  	 	8,152,734	  
	 Focus Managed Accounts Fund Ltd.
	  	 	1,744,493	  	  	 	3,488,986	  
	 Deerfield Special Situations Fund, L.P.
	  	 	2,460,834	  	  	 	4,921,668	  
	 Deerfield Special Situations Fund International, Ltd.
	  	 	3,356,741	  	  	 	6,713,482	  
	 Akanthos Arbitrage Master Fund, L.P.
	  	 	2,431,261	  	  	 	4,862,522	  
		  	  
	  
	 	  	  
	  
	 
	 Totals
	  	 	14,069,696	  	  	 	28,139,392	  
		  	  
	  
	 	  	  
	  
	 

 Addresses for Notices 

 

					
	 Holder
	 	 Address
	 	 with a copy to:

	Context Partners Fund, L.P.	 	
c/o Context Capital Management, LLC, 2223 Avenida de la Playa, Suite 300, La Jolla 
CA 92037,
 Attn: Michael Rosen
	 	Peter J. Weisman, P.C., 2 Rector St., 3rd Floor, New York,
 NY 10006

	Focus Managed Accounts Fund Ltd.	 	
c/o Context Capital Management, LLC, 2223 Avenida de la Playa, Suite 300, La Jolla 
CA 92037,
 Attn: Michael Rosen
	 	Peter J. Weisman, P.C., 2 Rector St., 3rd Floor, New York,
 NY 10006

	Deerfield Special Situations Fund, L.P.	 	
c/o Deerfield Management Company, LP, 780 Third Avenue, 37th Floor, New York, NY 
10017,
 Attn: Jeffrey Kaplan
	 	
	Deerfield Special Situations Fund International, Ltd.	 	
c/o Deerfield Management Company, LP, 780 Third Avenue, 37th Floor, New York, NY 
10017,
 Attn: Jeffrey Kaplan
	 	
	Akanthos Arbitrage Master Fund, L.P.	 	
c/o Akanthos Capital Management LLC, 21700 Oxnard Street, Suite 1730, Woodland Hills, CA 
91367,
 Attn: Michael Kao
	 	

  
 13 

 SCHEDULE 2 

Existing Warrants 
  

									
	 Name
	  	Date	  	Warrant Description	  	# of Warrants	 
	 Context Partners Fund, L.P.
	  	February 9, 2011	  	Series D warrants	  	 	400,000	  
	 Context Partners Fund, L.P.
	  	August 22, 2011	  	August 2011 financing	  	 	190,908	  
		  		  		  	  
	  
	 
	 Subtotal
	  		  		  	 	590,908	  
				
	 Focus Managed Accounts Fund, Ltd.
	  	February 9, 2011	  	Series D warrants	  	 	400,000	  
	 Focus Managed Accounts Fund, Ltd.
	  	August 22, 2011	  	August 2011 financing	  	 	190,908	  
		  		  		  	  
	  
	 
	 Subtotal
	  		  		  	 	590,908	  
				
	 Deerfield Special Situations Fund, L.P.
	  	August 22, 2011	  	August 2011 financing	  	 	497,636	  
				
	 Deerfield Special Situations Fund International, Ltd.
	  	August 22, 2011	  	August 2011 financing	  	 	775,091	  
				
	 Akanthos Arbitrage Master Fund, L.P.
	  	July 19, 2010	  	Series B warrants	  	 	1,934,620	  
	 Akanthos Arbitrage Master Fund, L.P.
	  	February 9, 2011	  	Series D warrants	  	 	2,400,000	  
		  		  		  	  
	  
	 
	 Subtotal
	  		  		  	 	4,334,620	  
				
	 LMA SPC for and on behalf of the MAP87 Segregated Portfolio
	  	July 19, 2010	  	Series B warrants	  	 	1,036,282	  
	 LMA SPC for and on behalf of the MAP87 Segregated Portfolio
	  	February 9, 2011	  	Series D warrants	  	 	1,600,000	  
		  		  		  	  
	  
	 
	 Subtotal
	  		  		  	 	2,636,282	  
				
	 Total
	  		  		  	 	9,425,445	  
		  		  		  	  
	  
	 

  
 14

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