Document:

License Agreement

 Exhibit 10.6 
  
 ** CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN
UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 
  
 THIS LICENSE AGREEMENT effective as of June 1, 2003 (“Effective Date”), by and between RIKEN, a company organized and existing under the laws of
Japan having its registered office at 2-1 Hirokawa, Wako-shi, Saitama 351-0198, Japan (“RIKEN”), Dr. Katsuhiko Mikoshiba, an individual having an address at 2-19-25 Inokashira, Mitaka, Tokyo, Japan (“MIKOSHIBA”) and MediciNova,
Inc., a corporation organized and existing under the laws of the State of Delaware, United States, and having its principal office at 4370 La Jolla Village Drive, Suite 400, San Diego, CA 92122 United States (“MEDICINOVA”). 
  
 W I T N E S S E T H: 
  

	WHEREAS,	LICENSORS are the sole owners of the Patent Assets (as defined herein); 

  
 WHEREAS, MEDICINOVA desires to obtain exclusive license rights, with rights to grant sublicenses, under the Patent Assets and LICENSORS desire to grant such licenses to
MEDICINOVA, upon the terms and conditions set forth herein; and 
  
 NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

  
 ARTICLE I 
 DEFINITIONS 
  
 Unless specifically set forth to the contrary herein, the following terms, where used in the singular or plural, shall have the respective meanings set forth below: 
  
 1.1. “Affiliate” shall mean (i) any corporation or business entity of which
more than fifty percent (50%) of the securities or other ownership interests representing the equity, the voting stock or general partnership interest are owned, controlled or held, directly or indirectly, by a Party; (ii) any corporation or
business entity which, directly or indirectly, owns, controls or holds more than fifty percent (50%) (or the maximum ownership interest permitted by law) of the securities or other ownership interests representing the equity, voting stock or general
partnership interest of a Party or (iii) any corporation or business entity of which a Party has the 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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right to acquire, directly or indirectly, at least fifty percent (50%) of the securities or other ownership interests representing the equity, voting stock
or general partnership interest thereof. 
  
 1.2. “Business
Day(s)” means any day that is not a Saturday or a Sunday or a day on which the New York Stock Exchange is closed. 
  
 1.3. “Calendar Quarter” shall mean the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December
31. 
  
 1.4. “Calendar Year” shall mean each successive period of
twelve (12) months commencing on January 1 and ending on December 31. 
  
 1.5.
“Centralized Procedure” shall mean the European Union Centralized Procedure for marketing authorization in accordance with Council Regulation n° 2309/93 of July 22, 1993 or any successor regulations. 
  
 1.6. “CFR” shall mean the United States Code of Federal Regulations.

  
 1.7. “Compound” shall mean IP3-binding polypeptides and their
homologs or analogs. 
  
 1.8. “Dominating Patent” shall mean an
unexpired patent which has not been invalidated by a court or other governmental agency of competent jurisdiction which is owned by a Third Party and which MEDICINOVA or its sublicensees reasonably believe they have no commercially reasonable
alternative to obtaining a royalty-bearing license under such patent in order to commercialize a Product under this Agreement. 
  
 1.9. “End of Phase 2 Meeting” shall mean the first end of Phase 2 meeting with the FDA, as defined in 21 CFR Section 312.47, intended to determine the
safety of proceeding to Phase 3, evaluate the Phase 3 plan and protocols and identify any additional information necessary to support an NDA for Product. 
  
 1.10. “Effective Date” shall mean the date first above written. 
  

1.11. “Europe” shall mean the United Kingdom, France, Germany and Italy. 
  
 1.12. “FDA” shall mean the United States Food and Drug Administration and any successor agency having substantially the
same functions. 
  
 1.13. “Field” means all uses, excluding the
use of assay kits for assaying IP3 and/or the capacity of a substance to bind to IP3. 
  
 1.14. “First Commercial Sale” shall mean the first sale of Product in any country in the Territory by MEDICINOVA, its Affiliates or its sublicensee(s), for end use or consumption, after all required approvals have been
granted by the governing health authority of such country. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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 1.15. “GAAP” means generally accepted accounting principles in the United States. 
  
 1.16. “Improvement” shall mean any and all improvements and enhancements,
including any changes or modifications to the subject matter disclosed in the Patent Assets and any methods, processes, compositions therein and thereto patentable or otherwise, related to the Compound or Product including, without limitation, any
change or modification in the manufacture, formulation, ingredients, preparation, presentation, means of delivery or administration, dosage, indication, use or packaging of Compound or Product. 
  
 1.17. “IND” shall mean an investigational new drug application and any
amendments thereto relating to the use of Product in the United States or the equivalent application in any other regulatory jurisdiction in the Territory, the filing of which is necessary to commence clinical testing of pharmaceutical products in
humans. 
  
 1.18. “Inventor” shall mean MIKOSHIBA or those under
MIKOSHIBA’s direction and control. 
  
 1.19. “LICENSORS”
shall mean RIKEN and MIKOSHIBA; LICENSOR shall mean either RIKEN or MIKOSHIBA. 
  
 1.20. “NDA” shall mean a new drug application filed with the FDA for marketing authorization of a Product in the United States or, if the context so indicates, a corresponding submission under the Centralized Procedure or
with the Japanese Ministry of Health and Welfare, and any amendments and supplements thereto. 
  
 1.21. “Net Sales” shall mean the actual gross amount invoiced for the commercial sale of Product in the Territory commencing upon the date of First Commercial Sale, after deducting, in accordance with
GAAP, the following: 
  

	 	(i)	trade, cash and quantity discounts; 

  

	 	(ii)	allowances for product returns, including allowances for rejected Product, or spoilage or recalled Product; 

  

	 	(iii)	rebates and chargebacks; 

  

	 	(iv)	retroactive price reductions; 

  

	 	(v)	sales or excise taxes, VAT or other taxes, and transportation and insurance charges and additional special transportation, custom duties, and other governmental charges;

  

	 	(vi)	 rebates or similar payments paid in connection with sales of Product to any governmental or regulatory authority in respect of 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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any state or federal Medicare, Medicaid or similar programs in any country of the Territory; and 

  

	 	(vii)	write-offs or allowances for bad debts. 

  
 Sales or other transfers between MEDICINOVA and its Affiliates shall be excluded from the computation of Net Sales and no payments will be payable on such
sales or transfers except where such Affiliates are end users, but Net Sales shall include the subsequent sales to Third Parties by such Affiliates. 
  
 1.22. “Party” shall mean RIKEN, MIKOSHIBA or MEDICINOVA. 
  
 1.23. “Patent Assets” shall mean (i) [**], (ii) any Japanese, U.S., international and foreign patent applications claiming priority benefits of a
patent application listed in part (i) above, including, but not limited to, conversions, continuing prosecution applications, requests for continuing examination, divisional applications, substitutions, re-examinations, continuations, and
continuations-in-part; (iii) all Japanese, U.S., international and foreign patents issuing from patent applications listed in parts (i) or (ii) above; and (iv) all reissues, renewals, supplemental certificates of protection and extensions of patents
issuing from patents listed in part (iii) above, in each case which are owned or co-owned by LICENSOR(S) and which relate to Compound or Product or Improvements which are developed, produced, conceived or invented by Inventor; including but not
limited to the patents and patent applications listed on Schedule 1.23 hereto, and any counterparts thereof which have been or may be filed in other countries. 
  
 1.24. “Phase 1 Clinical Trial” shall mean the clinical trial in which Product is initially introduced into humans.

  
 1.25. “Phase 3 Clinical Trial” means a clinical trial
conducted after an End of Phase 2 Meeting on a sufficient number of patients that is designed to establish that Product is safe and efficacious for its intended use, and to define warnings, precautions and adverse reactions that are associated with
the Product in the dosage range to be prescribed, and supporting marketing authorization or label expansion of Product. 
  
 1.26. “Product” shall mean any product in final form for commercial sale by prescription, over-the-counter, or by any other method (or, where the context
so indicates, the product being tested in clinical trials), which contains Compound as at least one of the therapeutically active ingredients, in all final dosage forms and package configurations for any indication, or any line extension thereof, in
the Field. 
  
 1.27. “Proprietary Information” shall mean any and
all scientific, clinical, regulatory, marketing, financial and commercial information or data, whether communicated in writing, orally or by any other means, which is owned and under the protection of one Party and is being provided by that Party to
the other Party in connection with this Agreement. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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 1.28. “Regulatory Approval” means all approvals (including pricing and reimbursement approvals required
for marketing authorization), product and/or establishment licenses, registrations or authorizations of all regional, federal, state or local regulatory agency, department, bureau or other governmental entity, necessary for the manufacture, use,
storage, import, export, transport and sale of Product in a regulatory jurisdiction. 
  
 1.29. “Riken/Mikoshiba Agreement” shall mean that agreement between RIKEN and MIKOSHIBA dated as of [**], a complete copy of which, together with an English translation thereof, is attached hereto as Exhibit
1.29. 
  
 1.30. “Royalty Year” shall mean, (i) for the year
in which the First Commercial Sale occurs, the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs (the “Commencement Date”) and expiring on the last day of the Calendar Quarter that ends
twelve (12) months after the Commencement Date and (ii) for each subsequent year, each successive twelve (12) month period. 
  
 1.31. “SEC” shall mean the United States Securities and Exchange Commission, or any successor agency. 
  
 1.32. “Territory” shall mean all of the countries and territories in the
world. 
  
 1.33. “Third Party(ies)” shall mean a person or entity
who or which is neither a Party nor an Affiliate of a Party. 
  
 1.34.
“Valid Claim” means a claim of an issued and unexpired patent included within the Patent Assets, which has not been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of competent
jurisdiction, and which has not been disclaimed, denied or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise. 
  
 ARTICLE II 
 LICENSE; SUBLICENSES

  
 2.1. Exclusive License Grant. In consideration of and subject to the
terms and conditions of this Agreement, LICENSORS hereby grant to MEDICINOVA an exclusive (even as to LICENSORS), worldwide license under the Patent Assets to develop, make, have made, use, import, offer for sale, market, commercialize, distribute
and sell and otherwise dispose of Compound and Product in the Field and, outside the Field, to use the Patent Assets for research and development purposes and not for commercial purposes. The exclusive license granted under this Section 2.1 includes
the right to grant sublicenses. LICENSORS reserve the right to practice the Patent Assets for their own internal research and educational purposes; provided, however, that such use is for non-commercial academic purposes only and for no other
purpose, and subject to the provisions of Section 2.2 below. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
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 2.2. Improvements. Title to any Improvement conceived, developed, discovered and/or reduced to practice solely by
MEDICINOVA in connection with the license granted under Section 2.1 above shall be vested solely in MEDICINOVA; provided, however, that LICENSORS shall have the right to use MEDICINOVA Improvements for their own internal research and educational
purposes provided, that (i) such use is for non-commercial academic purposes only and for no other purpose and (ii) LICENSORS’ shall promptly notify MEDICINOVA of any intellectual property, discovery or invention, once conceived and/or reduced
to practice by LICENSORS in the course of conducting or performing such non-commercial activity relating to MEDICINOVA Improvements. Any interest LICENSORS may have in any patents or patent applications that may embody, disclose or claim such
further intellectual property, discovery or invention relating to MEDICINOVA Improvements shall automatically become part of the Patent Assets at no additional cost to MEDICINOVA and any interest LICENSORS may have in any Improvements that are not
embodied, disclosed or claimed in any patents or patent applications shall be non-exclusively licensed, free of charge, to MEDICINOVA for application to Compound or Product during the term of this Agreement 
  
 2.3. Sublicenses. MEDICINOVA shall have the right to grant sublicenses of any and all
rights licensed to MEDICINOVA by LICENSORS under this Agreement to Affiliates or any Third Party in the Territory. In the event of such a sublicense by MEDICINOVA to a Third Party of any rights licensed to MEDICINOVA by LICENSORS under Section 2.1
of this Agreement, the provisions of Section 5.3.2 of this Agreement shall be applicable. MEDICINOVA shall inform RIKEN of the grant of any such sublicenses and shall promptly provide copies thereof to RIKEN. 
  
 ARTICLE III 
 RESEARCH, DEVELOPMENT AND COMMERCIALIZATION 
  
 3.1. Exchange of Information. Within sixty (60) days after execution of this Agreement, LICENSORS shall disclose to MEDICINOVA in English and in writing all Patent Assets not previously available or made
available to MEDICINOVA. Throughout the term of this Agreement, and in addition to the other communications required under this Agreement, LICENSORS shall also promptly disclose to MEDICINOVA in English and in writing on an ongoing basis all Patent
Assets, and any and all additions or revisions thereto. 
  
 3.2. Diligence;
Development and Commercialization. MEDICINOVA shall use commercially reasonable efforts to develop and commercialize Product, including the preparation and filing of regulatory submissions. As used herein, “commercially reasonable
efforts” shall mean efforts and resources normally used by MEDICINOVA for a product owned by it or to which it has exclusive rights, which is of similar market potential at a similar stage in its development or product life, taking into account
issues of safety and efficacy, product profile, the competitiveness of the marketplace, the proprietary position of the compound or product, the regulatory and reimbursement structure involved, the profitability of the applicable products, and other
relevant factors. The obligations set forth in this Section 3.2 are expressly conditioned upon the absence of any serious adverse conditions relating to the safety or efficacy of 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
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Compound or Product including the absence of any action by any regulatory authority limiting the development or commercialization of Compound or Product.

  
 3.3. Regulatory Matters. 
  
 (a) MEDICINOVA shall own, control and retain primary legal responsibility
for the preparation, filing and prosecution of all filings and regulatory applications required to obtain authorization to commercially develop, sell and use Product in the Territory. MEDICINOVA shall promptly notify RIKEN upon the receipt of
Regulatory Approvals and of the date of First Commercial Sale. 
  
 (b) RIKEN or MIKOSHIBA, as applicable, shall transfer to MEDICINOVA as soon as practicable after the Effective Date any regulatory filings relating to Compound or Product owned or controlled by such LICENSOR, and LICENSORS shall allow
MEDICINOVA to cross reference any regulatory filing owned or controlled by either LICENSOR relating to Compound or Product. Upon MEDICINOVA’s request, LICENSORS shall consult and cooperate with MEDICINOVA in connection with obtaining regulatory
approval of Product. 
  
 3.4. Trademark. MEDICINOVA shall select, own and
maintain trademarks for Product in the Territory 
  
 3.5. Adverse Events.
Each Party shall promptly furnish to the other Parties hereto all information of which such Party becomes aware concerning safety or utility of Compound or Product, such as adverse or unexpected side effects, injury or other events associated with
uses, studies, investigations or tests of Compound or Product whether or not such Party is required to report such information to any regulatory authority and whether or not such event is determined to be attributable to Compound or Product.
MEDICINOVA’S obligation under this Section 3.5 shall be satisfied by MEDICINOVA providing such information to RIKEN. 
  
 ARTICLE IV 
 CONFIDENTIALITY AND
PUBLICITY 
  
 4.1. Non-Disclosure and Non-Use Obligations. All Proprietary
Information disclosed by one Party to the other Party hereunder shall be maintained in confidence and shall not be disclosed to any Third Party or used for any purpose except as expressly permitted herein without the prior written consent of the
Party that disclosed the Proprietary Information to the other Party during the term of this Agreement and for a period of five years thereafter. The foregoing non-disclosure and non-use obligations shall not apply to the extent that such Proprietary
Information: 
  

	 	(a)	is lawfully known by the receiving Party at the time of its receipt, and not through a prior disclosure by the disclosing Party, as documented by business records;

  

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	 	(b)	is or becomes properly in the public domain or knowledge otherwise than as a result of breach of this Agreement by the receiving Party; 

  

	 	(c)	is subsequently disclosed to a receiving Party by a Third Party who may lawfully do so and is not under an obligation of confidentiality to the disclosing Party; or

  

	 	(d)	is developed by the receiving Party independently of Proprietary Information received from the other Party, as documented by research and development records.

  
 4.2. Permitted Disclosure of Proprietary Information.
Notwithstanding Section 4.1, a Party receiving Proprietary Information of another Party may disclose such Proprietary Information: 
  

	 	(a)	to governmental or other regulatory agencies in order to obtain patents pursuant to this Agreement, or to gain approval to conduct clinical trials or to market Product, but such
disclosure may be only to the extent reasonably necessary to obtain such patents or authorizations; 

  

	 	(b)	by each of MEDICINOVA or LICENSORS to its respective agents, consultants, Affiliates, MEDICINOVA’s sublicensees and/or other Third Parties (“Disclosees”) for the
research and development, manufacturing and/or marketing of the Compound and/or Product (or for such parties to determine their interests in performing such activities) on the condition that such Disclosees agree to be bound by the confidentiality
obligations consistent with this Agreement; or 

  

	 	(c)	if and to the extent required to be disclosed by law or court order, provided that notice is promptly delivered to the non-disclosing Party in order to provide an opportunity to
challenge or limit the disclosure obligations; provided, however, without limiting any of the foregoing, it is understood that MEDICINOVA or its Affiliates may make disclosure of this Agreement and the terms hereof in any filings required by SEC,
may file this Agreement as an exhibit to any filing with the SEC and may distribute any such filing in the ordinary course of its business. 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
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 4.3 Publication. In the event either Party or any Affiliate of or consultant or contractor to either Party wishes
to make a written or oral publication relating to Compound or Product, it shall deliver to the other Party a copy of the proposed written publication or an outline of the proposed oral disclosure at least thirty (30) Business Days prior to
submission or presentation, such that any issue of patent protection can be resolved in accordance with the terms of this Agreement. Delivery of such material to RIKEN by MEDICINOVA shall satisfy MEDICINOVA’S obligations to deliver to LICENSORS
under this Section 4.3. 
  
 ARTICLE V 
 PAYMENTS; ROYALTIES AND REPORTS 
  
 5.1. License Fee. In consideration of the rights granted by LICENSORS hereunder, MEDICINOVA shall pay to RIKEN, on behalf of RIKEN and MIKOSHIBA, [**],
payable within ten (10) days after the Effective Date. The Parties agree that this amount includes reimbursement of certain patent costs related to the Patent Assets previously incurred by LICENSORS. 
  
 5.2. Milestone Payments. Subject to the terms and conditions contained in this
Agreement, and in further consideration of the rights granted by LICENSORS hereunder, MEDICINOVA shall pay to RIKEN, on behalf of RIKEN and MIKOSHIBA, the following milestone payments, contingent upon occurrence of the specified event, with each
milestone payment to be made no more than once with respect to the achievement of such milestone, but payable the first time such milestone is achieved: 
  
 (a) US [**] upon the commencement (first dosing of the first patient) of the first Phase 1 Clinical Trial in the United States; 
  
 (b) US [**] upon the commencement (first dosing of the first patient)
of the first Phase 3 Clinical Trial in the United States; 
  
 (c)
US [**] upon the FDA’s first acceptance for filing of an NDA; 
  
 (d) US [**] upon receipt of first written Regulatory Approval by the FDA; 
  
 (e) US [**] upon receipt of first written Regulatory Approval in Europe; and 
  
 (f) US [**] upon receipt of first written Regulatory Approval by the Ministry of Health, Labour and Welfare (or any
successor agency having substantially the same functions) in Japan. 
  
 MEDICINOVA
shall notify RIKEN in writing within thirty (30) days after the achievement of each milestone, and such notice shall be accompanied by payment of the appropriate milestone payment. The payments described in this Section 5.2 shall be payable only
upon the initial achievement of each milestone, and no amounts shall be due hereunder for any subsequent or 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
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repeated achievement of such milestones, regardless of the number of Products for which such milestone may be achieved. 
  
 5.3. Royalties and Other Payments. 
  
 5.3.1. Royalties Payable By MEDICINOVA. 
  
 (a) Subject to the terms and conditions of this Agreement, and in further
consideration of the rights granted by LICENSORS hereunder, except as otherwise provided herein, MEDICINOVA shall pay to RIKEN, on behalf of RIKEN and MIKOSHIBA, the following percentages of royalties on Net Sales in each Royalty Year by MEDICINOVA
and its Affiliates if the manufacture, use or sale of such Product would, absent the license granted hereunder, infringe one or more Valid Claims in the applicable country: 
  

	 	(i)	[**] of Net Sales equal to or less than US[**]; 

  

	 	(ii)	[**] of Net Sales greater than US[**] and less than or equal to US[**]; and 

  

	 	(iii)	[**] of Net Sales greater US[**]. 

  
 (b) Royalties on Net Sales at the rates set forth in Schedule 5.3.1(a) shall accrue as of the date of First Commercial Sale of Product in the applicable
country and shall continue and accrue on Net Sales on a country-by-country basis until the last date on which the manufacture, use or sale of such Product would, absent the license granted hereunder, infringe one or more Valid Claims in such
country. Thereafter, MEDICINOVA shall be relieved of any royalty payment under this Section 5.3. 
  
 (c) The payment of royalties set forth above (or any payments required by Section 5.3.2 of this Agreement) shall be subject to the following conditions:

  
 (i) only one payment shall be due with
respect to the same unit of Product and no multiple royalties shall be payable because any Product, or its manufacture, sale or use is covered by more than one Valid Claim; 
  
 (ii) no royalties shall accrue on the disposition of Product by MEDICINOVA, Affiliates or sublicensees as
samples (promotion or otherwise) or as donations (for example, to non-profit institutions or government agencies) or for clinical trials; and 
  
 (iii) RIKEN shall be responsible for payment of, shall pay and shall indemnify MEDICINOVA against any liability or claim for, any
royalties or other payments, obligations or amounts owed to MIKOSHIBA as a result of the rights granted by RIKEN and/or MIKOSHIBA and the payments made by MEDICINOVA to RIKEN under this Agreement. RIKEN shall also be responsible for payment of,
shall pay and shall indemnify MEDICINOVA against any 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
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liability or claim for, any royalties or other payments, obligations or amounts owed to any Third Parties as a result of the rights granted by RIKEN and/or
MIKOSHIBA under this Agreement. 
  
 5.3.2. Payments in the
Event of Sublicense. In the event MEDICINOVA enters into a sublicense with a Third Party or Third Parties under Section 2.3 of this Agreement of any rights licensed to MEDICINOVA by LICENSORS under Section 2.1 of this Agreement, then in lieu of
MEDICINOVA paying to RIKEN the royalty payments set forth in Section 5.3.1 above, MEDICINOVA shall pay to RIKEN, on behalf of RIKEN and MIKOSHIBA, [**] of royalties received by MEDICINOVA from such sublicensee(s) (the “Sublicense Royalty
Payments”). Payments shall be required under Section 5.3.2 for the same period set forth in Section 5.3.1(b) hereof. 
  
 5.3.3. Compulsory Licenses. If a compulsory license is granted to a Third Party with respect to Product in any country with a royalty rate lower
than the royalty rate provided by Section 5.3.1, then the royalty rate to be paid by MEDICINOVA on Net Sales in that country under Section 5.3.1 shall be reduced to the rate paid by the compulsory Third Party licensee. 
  
 5.3.4. Third Party Licenses. If MEDICINOVA would be prevented from
developing, making, having made, using, selling or importing Product included in the Patent Assets in any country of the Territory on the grounds that by doing so MEDICINOVA or any sublicensee would infringe a Dominating Patent or other patent
rights held by a Third Party in said country, any royalties or other payments paid to such Third Party by MEDICINOVA in such country shall be creditable against the royalty or other payments payable to RIKEN by MEDICINOVA in such country.

  
 5.3.5. Combination Product. Notwithstanding the
provisions of Section 5.3.1, in the event a Product is sold as a combination product or kit with other biologically active components, Net Sales, for purposes of calculating royalty payments on the combination product, shall be calculated by
multiplying the Net Sales of that combination product or kit by the fraction A/B, where A is the gross selling price of the Product sold separately and B is the gross selling price of the combination product or kit. If no such separate sales are
made by MEDICINOVA or its Affiliates, Net Sales for royalty determination shall be calculated by multiplying Net Sales of the combination product or kit by the fraction C/(C+D), where C (excluding the fully allocated cost of the other biologically
active component in question) is the fully allocated cost of the Compound and D is the fully allocated cost of such other biologically active components. 
  
 5.4. Reports; Payment of Royalty. During the term of the Agreement for so long as royalty payments are due, MEDICINOVA shall furnish to RIKEN a quarterly written
report for the Calendar Quarter showing the sales of all Products subject to royalty payments sold by MEDICINOVA and its Affiliates (or, if sales of Product were made by a sublicensee, the Sublicense Royalty Payments received from such sublicensee
as a result of such sales) during the reporting period and the royalties payable under this Agreement. Reports shall be due on the sixtieth (60th) day following the close of each Calendar Quarter. Royalties shown to have 

  

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accrued by each royalty report, if any, shall be due and payable on the date such royalty report is due. MEDICINOVA shall keep complete and accurate records
in sufficient detail to enable the royalties hereunder to be determined. 
  
 5.5.
Audits. Upon the written request of RIKEN and not more than once in each Calendar Year, MEDICINOVA shall permit an independent certified public accounting firm selected by RIKEN and acceptable to MEDICINOVA to have access during normal
business hours, upon ten-days notice to MEDICINOVA, to such of the records of MEDICINOVA as may be reasonably necessary to verify the accuracy of the royalty reports hereunder for any Royalty Year ending not more than twenty-four (24) months prior
to the date of such request. The accounting firm shall disclose to RIKEN only whether the royalty reports are correct or incorrect and the specific details concerning any discrepancies. 
  
 5.5.1. If such accounting firm concludes that additional royalties were owed during such Royalty Year, MEDICINOVA shall pay
the additional royalties within sixty (60) days of the date RIKEN delivers to MEDICINOVA such accounting firm’s written report so concluding; provided however, that, in the event that MEDICINOVA shall not be in agreement with the conclusion of
such report (a) MEDICINOVA shall not be required to pay such additional royalties and (b) such matter shall be resolved pursuant to the provisions of Section 9.5 herein. In the event such accounting firm or, if the matter is resolved in accordance
with Section 9.5 herein, any arbitration award concludes that amounts were overpaid by MEDICINOVA during such period, RIKEN shall repay MEDICINOVA the amount of such overpayment within sixty (60) days of the date of delivery of such accounting
firm’s written report or the arbitration award so concluding. The fees charged by such accounting firm shall be paid by RIKEN; provided, however, that if an error in favor of RIKEN of more than the greater of (i) $100,000 or (ii)
ten percent (10%) of the royalties due hereunder for the period being reviewed is discovered, then the fees and expenses of the accounting firm shall be paid by MEDICINOVA. 
  
 5.5.2. Upon the expiration of twenty-four (24) months following the end of any Royalty Year the calculation of royalties
payable with respect to such Royalty Year shall be binding and conclusive upon RIKEN, and MEDICINOVA shall be released from any liability or accountability with respect to royalties for such year. 
  
 5.5.3. Each Party hereto shall treat all financial information subject to
review under this Section 5.5 or under any sublicense agreement in accordance with the confidentiality provisions of this Agreement. 
  
 5.6. Payment Exchange Rate. All payments to RIKEN under this Agreement shall be made in United States dollars. In the case of sales outside the United States, the
rate of exchange to be used in computing the amount of currency equivalent in United States dollars due RIKEN shall be calculated monthly in accordance with GAAP and based on the conversion rates published in the Wall Street Journal, Eastern
edition. 
  

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 5.7. Tax Withholding. If laws, rules or regulations require withholding of income taxes or other taxes imposed
upon payments set forth in this Article V, RIKEN shall provide MEDICINOVA, prior to any such payment, annually or more frequently if required, with all forms or documentation required by any applicable taxation laws, treaties or agreements to such
withholding or as necessary to claim a benefit thereunder (including, but not limited to Form W-8BEN or any successor forms) and MEDICINOVA shall make such withholding payments as required and subtract such withholding payments from the payments set
forth in this Article V. MEDICINOVA will use commercially reasonable efforts consistent with its usual business practices and cooperate with RIKEN to ensure that any withholding taxes imposed are reduced as far as possible under the provisions of
the current or any future taxation treaties or agreements between foreign countries. 
  
 5.8. Exchange Controls. Notwithstanding any other provision of this Agreement, if at any time legal restrictions prevent the prompt remittance of part or all of the royalties with respect to Net Sales in any country, payment shall be
made through such lawful means or methods as MEDICINOVA may determine. When in any country the law or regulations prohibit both the transmittal and deposit of royalties on sales in such a country, royalty payments shall be suspended for as long as
such prohibition is in effect (and such suspended payments shall not accrue interest), and promptly after such prohibition ceases to be in effect, all royalties that MEDICINOVA or its Affiliates would have been obligated to transmit or deposit, but
for the prohibition, shall be deposited or transmitted, as the case may be, to the extent allowable, (less any transactional costs). If the royalty rate specified in this Agreement should exceed the permissible rate established in any country, the
royalty rate for sales in such country shall be adjusted to the highest legally permissible or government-approved rate. 
  
 ARTICLE VI 
 REPRESENTATIONS AND
WARRANTIES 
  
 6.1. LICENSORS’ Representations and Warranties.
LICENSORS severally represent and warrant to MEDICINOVA that: 
  
 (a) With respect to the preparation and prosecution of Patent Assets, (i) LICENSORS and its agents have used all reasonable and predictable efforts to comply with applicable U. S., non-U.S., and International treaties, laws, articles and
rules, including in each of its pending applications, where applicable, naming the proper inventors, satisfying its duty of candor, disclosing the best mode and otherwise complying with all the requirements of 35 U.S.C.112 and (ii) LICENSORS have no
reason to believe that U.S. and non-U.S. claims would not be granted, which would include claims similar in scope to and directed to the subject matter recited in the claims of [**], included in the Patent Assets as set forth in Schedule
1.23. 
  
 (b) this Agreement has been duly executed and delivered
by LICENSORS and constitutes legal, valid, and binding obligations enforceable against LICENSORS in accordance with its terms; 
  

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 (c) as of the Effective Date, no approval, authorization, consent, or other order or action of or filing
with any court, administrative agency or other governmental authority is required for the execution and delivery by LICENSORS of this Agreement or the consummation by LICENSORS of the transactions contemplated hereby; 
  
 (d) as of the Effective Date, LICENSORS have the full corporate power and
authority to enter into and deliver this Agreement, to perform and to grant the licenses granted under Article II hereof and to consummate the transactions contemplated hereby; all corporate acts and other proceedings required to be taken to
authorize such execution, delivery, and consummation have been duly and properly taken and obtained; 
  
 (e) LICENSORS have not previously assigned, transferred, conveyed or otherwise encumbered its right, title and interest in the Patent Assets nor have
LICENSORS entered into any agreement with any Third Party that could prevent MEDICINOVA from exploiting, or that grants rights or is otherwise in conflict with, the rights granted to MEDICINOVA pursuant to this Agreement; 
  
 (f) LICENSORS are the sole and exclusive owners under the Patent Assets, all
of which are owned free and clear of any liens, charges and encumbrances, and no other person, corporate or other private entity, or governmental or university entity or subdivision thereof, including without limitation, the University of Tokyo, has
any claim of ownership with respect to the Patent Assets, whatsoever; 
  
 (g) as of the Effective Date, the contemplated development, importation, manufacture, use, offer for sale and sale of Compound does not and will not infringe any patent rights owned or possessed by any Third Party; 
  
 (h) they have disclosed to MEDICINOVA all information known by them as of the
Effective Date, that is reasonably believed by LICENSORS to be related to the Compound, Product, or Patent Assets and the activities contemplated under this Agreement; 
  
 (i) Schedule 1.23 is a complete and accurate list of all patents and patent applications included under Patent Assets
as of the Effective Date; 
  
 (j) as of the Effective Date, there
are no claims, judgments or settlements against or owed by LICENSORS or pending or, to the best of its knowledge, threatened claims or litigation relating to the Patent Assets; 
  
 (k) in connection with development of Compound, LICENSORS have complied in all material respects with applicable U.S. and
Japanese laws and regulations; 
  
 (l) attached as Exhibit
1.29 is a true and complete copy of the Riken/Mikoshiba Agreement, including all exhibits and supplements thereto and modifications or amendments thereof. Neither RIKEN nor MIKOSHIBA is in default under or in breach of any terms or provisions of
the Riken/Mikoshiba Agreement, and such agreement is in full force and effect as 

  

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 14 

 
of the date hereof. During the term of this Agreement, neither RIKEN nor MIKOSHIBA shall amend, modify, terminate or cause a default under the
Riken/Mikoshiba Agreement. Notwithstanding any provision in the Riken/Mikoshiba Agreement, each of RIKEN and MIKOSHIBA consent to the terms and conditions of this Agreement and, to the extent any of the terms and conditions of this Agreement are
inconsistent with provisions of the Riken/Mikoshiba Agreement, the terms and conditions of this Agreement shall govern. 
  
 6.2. MEDICINOVA Representations and Warranties. MEDICINOVA represents and warrants to LICENSORS that as of the Effective Date: 
  
 (a) this Agreement has been duly executed and delivered by it and constitutes
legal, valid, and binding obligations enforceable against it in accordance with its terms; 
  
 (b) it has full corporate power and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby. All corporate acts and other proceedings required to be taken to authorize
such execution, delivery, and consummation have been duly and properly taken and obtained; and 
  
 (c) no approval, authorization, consent, or other order or action of or filing with any court, administrative agency or other governmental authority is required for the execution and delivery by it of this Agreement
or the consummation by it of the transactions contemplated hereby. 
  
 6.3.
Effect of Representations and Warranties. 
  
 It is understood that if the
representations and warranties made by a party under this Article 6 are not true and accurate, and the other party incurs damages, liabilities, costs or other expenses as a result, the Party making such representations and warranties shall indemnify
and hold the other party harmless from and against any such damages, liabilities, costs or other expenses incurred as a result. 
  
 ARTICLE VII 
 PATENT MATTERS 

 
 7.1. Filing, Prosecution and Maintenance of Patent Applications or Patents included in
Patent Assets. RIKEN shall have the initial right and responsibility to file, prosecute and maintain the Patent Assets in the name of LICENSORS using agents and/or attorneys reasonably acceptable to MEDICINOVA. RIKEN shall be responsible for the
payment of forty percent (40%) and MEDICINOVA shall be responsible for the payment of sixty percent (60%) of all patent prosecution and maintenance costs. RIKEN shall keep MEDICINOVA fully informed of all matters relating to the filing, prosecution
and maintenance of the Patent Assets including providing MEDICINOVA with copies of substantive communications, search reports and third party observations submitted to or received from patent offices throughout the Territory and shall give
MEDICINOVA the opportunity to review and comment on any of the foregoing. If RIKEN 

  

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elects not to prosecute or maintain a patent application or patent included in the Patent Assets in any country, it shall provide MEDICINOVA with written
advance notice sufficient to avoid any loss or forfeiture, and MEDICINOVA shall have the right, at its sole expense, to prosecute or maintain such patent application or patent in such country. Following receipt of such notice, upon request of
MEDICINOVA, RIKEN and MIKOSHIBA shall assign to MEDICINOVA such patent application or patent that is proposed to be abandoned or otherwise caused or allowed to lapse or be forfeited, for no further consideration. Thereafter, MEDICINOVA’S
royalty obligations related to such patent application or patent in such country shall terminate and such patent application or patent in such country shall no longer be deemed a Patent Asset. 
  
 7.2. Patent Office Proceedings. Each Party shall inform the other Party of any request
for, filing, or declaration of any proceeding before a patent office seeking to protest, oppose, cancel, reexamine, declare an interference proceeding, initiate a conflicts proceeding, or analogous process involving a patent application or patent
included in the Patent Assets. Each Party thereafter shall cooperate fully with the other with respect to any such patent office proceeding. Each Party will provide the other with any information or assistance that is reasonable. Each Party will
bear its own costs. 
  
 7.3. Enforcement and Defense. 
  
 (a) Each Party shall promptly (and in any event within 20 Business Days) give the other
Parties notice of any infringement in the Territory of any patent application or patent included in the Patent Assets that comes to such Party’s attention. The Parties will thereafter consult and cooperate fully to determine a course of action,
including, without limitation, the commencement of legal action by any Party. However, MEDICINOVA shall have the first right to initiate and prosecute such legal action at its own expense and in the name of RIKEN, MIKOSHIBA and/or MEDICINOVA, or to
control the defense of any declaratory judgment action relating to the Patent Assets. MEDICINOVA shall have a period of 40 Business Days from becoming aware of any such infringement to inform RIKEN if MEDICINOVA elects not to exercise such first
right. RIKEN shall, if MEDICINOVA either elects not to exercise such first right or fails to make such election within such period of 40 Business Days, have the right either to initiate and prosecute such action or to control the defense of such
declaratory judgment action in the name of RIKEN and MIKOSHIBA, and if necessary, MEDICINOVA. 
  
 (b) If MEDICINOVA elects not to initiate and prosecute an infringement or defend a declaratory judgment action in any country in the Territory as provided in Subsection 7.3(a), and RIKEN elects to do so, the cost of
any agreed-upon course of action, including the costs of any legal action commenced or any declaratory judgment action defended, shall be borne solely by RIKEN. 
  

(c) For any such legal action or defense, in the event that any Party is unable to initiate, prosecute, or defend such action solely in its own name, the other Party
will join such action voluntarily and will execute all documents necessary for the Party to prosecute, defend and 

  

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maintain such action. In connection with any such action, the Parties will cooperate fully and will provide each other with any information or assistance
that either reasonably may request. 
  
 (d) Any recovery obtained by MEDICINOVA or
RIKEN shall be shared as follows: 
  

	 	(i)	the Party that initiated and prosecuted, or maintained the defense of, the action shall recoup all of its costs and expenses (including reasonable attorneys’ fees) incurred in
connection with the action, whether the recovery is by settlement or otherwise; 

  

	 	(ii)	the other Party then shall, to the extent possible, recover its costs and expenses (including reasonable attorneys’ fees) incurred in connection with the action;

  

	 	(iii)	if RIKEN initiated and prosecuted, or maintained the defense of, the action, the amount of any recovery remaining then shall be retained by RIKEN; and 

  

	 	(iv)	if MEDICINOVA initiated and prosecuted, or maintained the defense of, the action, the amount of any recovery remaining shall be retained by MEDICINOVA, except that RIKEN shall
receive a portion equivalent to the royalties or other payments it would have received under this Agreement if such amount were deemed Net Sales. 

  

(e) Either LICENSOR shall inform MEDICINOVA of any certification regarding any Patent Assets it has received pursuant to either 21 U.S.C. §§ 355(b)(2)(A)(iv)
or (j)(2)(A)(vii)(IV) or under Canada’s Patented Medicines (Notice of Compliance) Regulations Article 5 and shall provide MEDICINOVA with a copy of such certification within five (5) days of receipt. RIKEN’S and MEDICINOVA’s rights
with respect to the initiation and prosecution, or defense, of any legal action as a result of such certification or any recovery obtained as a result of such legal action shall be allocated as defined in Subsections 7.3(d) (i) through (iv);
provided, however, that MEDICINOVA shall exercise the first right to initiate and prosecute, or defend, any action and shall inform RIKEN of such decision within fifteen (15) days of receipt of the certification, after which time, if
MEDICINOVA has not advised RIKEN of its intention to initiate and prosecute, or defend, such action, RIKEN shall have the right to initiate and prosecute, or defend, such action. 
  
 7.4 Patent Term Extensions and Supplemental Protection Certificates. The Parties shall cooperate in obtaining patent term extensions
or supplemental protection certificates or their equivalents in any country in the Territory where applicable and where desired by MEDICINOVA. If elections with respect to obtaining such extension or supplemental protection certificates are to be
made, MEDICINOVA shall have the right to make the election and LICENSORS shall abide by such election. All costs incurred relating to the activities under this Section 7.4 shall be borne by MEDICINOVA provided that all of such costs paid by 

  

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MEDICINOVA shall be creditable against any amounts otherwise payable by MEDICINOVA to RIKEN under Section 5.3.1 or 5.3.2 of this Agreement. 
  
 ARTICLE VIII 
 TERM AND TERMINATION 
  
 8.1.
Term and Expiration. This Agreement shall be effective as of the Effective Date and unless terminated earlier pursuant to Section 8.2 and 8.3 below, the term of this Agreement shall continue in effect until the date of expiration of the last
to expire patent included in the Patent Assets. Expiration of this Agreement under this provision shall not preclude MEDICINOVA from continuing to develop, make, have made, use, sell, offer for sale, and import Product in the Territory without
further remuneration to LICENSORS. 
  
 8.2. Termination by Notice.
Notwithstanding anything contained herein to the contrary, MEDICINOVA shall have the right to terminate this Agreement at any time by giving sixty (60) days advance written notice to LICENSORS. Except as set forth in this Agreement, in the event of
such termination, the rights and obligations hereunder, excluding any payment obligation that has accrued as of the termination date and excluding rights and obligations relating to confidentiality, shall terminate immediately, and the provisions of
Section 8.4 shall be applicable. 
  
 8.3. Termination. 
  
 8.3.1. Termination for Cause. Either Party may terminate this
Agreement by notice to the other Party at any time during the term of this Agreement as follows: 
  
 (a) if the other Party is in breach of any material obligation hereunder by causes and reasons within its control, or has breached, in any material
respect, any representations or warranties set forth in Article VI, and has not cured such breach within ninety (90) days after notice requesting cure of the breach, provided, however, that if the breach is not capable of being cured within ninety
(90) days of such written notice, the Agreement may not be terminated so long as the breaching Party commences and is taking commercially reasonable actions to cure such breach as promptly as practicable; or 
  
 (b) upon the filing or institution of bankruptcy, reorganization, liquidation
or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditors by the other Party; provided, however, in the case of any involuntary bankruptcy, reorganization, liquidation, receivership
or assignment proceeding such right to terminate shall only become effective if the Party consents to the involuntary proceeding or such proceeding is not dismissed within ninety (90) days after the filing thereof and if the Party subject to the
filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings gives the other Party written notice thereof. 
  

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 8.3.2. Licensee Rights Not Affected. 
  
 (a) In the event MEDICINOVA terminates this Agreement under Section 8.3.1(b), or this Agreement is otherwise terminated
under Section 8.3.1(b), or LICENSORS is a debtor in a bankruptcy proceeding, whether voluntary or involuntary, all rights and licenses granted pursuant to this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of 11
U.S.C. §101 et seq. (the “Bankruptcy Code”), licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. The Parties agree that MEDICINOVA and RIKEN shall retain and may fully
exercise all of their respective rights, remedies and elections under the Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against either LICENSOR under the Bankruptcy Code,
MEDICINOVA shall be entitled to all applicable rights under Section 365 of the Bankruptcy Code, including but not limited to, entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all
embodiments of such intellectual property upon written request therefor by MEDICINOVA. 
  
 (b) In the event MEDICINOVA is a debtor in a bankruptcy proceeding, whether voluntary or involuntary, all rights and licenses granted pursuant to this Agreement are, and shall otherwise be deemed to be, for purposes
of Section 365 of the Bankruptcy Code, executory contracts. The Parties agree that applicable law does not excuse LICENSORS from accepting performance by, or rendering performance under this Agreement and all rights and licenses granted hereunder
to, a person or entity other than MEDICINOVA. 
  
 8.4. Effect of Expiration or
Termination. Except as set forth in this Agreement, in the event of termination of this Agreement, the rights and obligations hereunder, excluding any payment obligation that has accrued as of the termination date and excluding rights and
obligations relating to confidentiality, shall terminate immediately, except that MEDICINOVA and its Affiliates and sublicensees shall have the right to sell or otherwise dispose of the stock of any Product subject to this Agreement then on hand or
in process of manufacture. Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing prior to such expiration or termination. In addition to any other provisions of this Agreement which by their terms
continue after the expiration of this Agreement, the provisions of Article IV shall survive the expiration or termination of this Agreement and shall continue in effect for five (5) years from the date of expiration or termination. In addition, any
other provision required to interpret and enforce the Parties’ rights and obligations under this Agreement shall also survive, but only to the extent required for the full observation and performance of this Agreement. Any expiration or early
termination of this Agreement shall be without prejudice to the rights of any Party against the other accrued or accruing under this Agreement prior to termination. Except as expressly set forth herein, the rights to terminate as set forth herein
shall be in addition to all other rights and remedies available under this Agreement, at law, or in equity, or otherwise. 
  

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 ARTICLE IX 
 INDEMNIFICATION 
  
 9.1. MEDICINOVA shall
indemnify, defend and hold harmless LICENSORS from and against any and all liabilities, damages, losses, costs or expenses (including reasonable attorneys’ and professional fees and other expenses of litigation and/or arbitration) (a
“Liability”) resulting from a claim, suit or proceeding brought by a Third Party against LICENSORS, arising from or occurring as a result of activities performed by MEDICINOVA in connection with the development, manufacture or sale of any
Product, except to the extent caused by the negligence or willful misconduct of either LICENSOR or any breach of this Agreement by either LICENSOR. 
  
 9.2. LICENSORS shall indemnify, defend and hold harmless MEDICINOVA from and against any and all Liability resulting from a claim, suit or proceeding brought by a Third
Party against MEDICINOVA, arising from or occurring as a result of activities performed by either LICENSOR in connection with the development, manufacture or sale of any Product, except to the extent caused by the negligence or willful misconduct of
MEDICINOVA or any breach of this Agreement by MEDICINOVA. 
  
 9.3. RIKEN shall
indemnify, defend and hold harmless MEDICINOVA from and against any and all Liability resulting from a claim, suit or proceeding brought by any Third Party against MEDICINOVA, alleging patent infringement or any claim relating to the Patent Assets.

  
 9.4 In the event that a Party intends to claim indemnification under this
Article 9 they shall promptly notify the indemnifying party in writing of such alleged Liability. The indemnifying party shall have the sole right to control the defense and settlement thereof. The indemnified party shall cooperate with the
indemnifying party and its legal representatives in the investigation of any action, claim or liability covered by this Article 9. The indemnified party shall not, except at their own cost, voluntarily make any payment or incur any expense with
respect to any claim or suit without the prior written consent of the indemnifying party. 
  
 ARTICLE X 
 MISCELLANEOUS 
  
 10.1. Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or
breached the Agreement for failure or delay in fulfilling or performing any term of the Agreement during the period of time when such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party including,
but not limited to, fire, flood, embargo, war, acts of war (whether war be declared or not), insurrection, riot, civil commotion, strike, lockout or other labor disturbance, act of God or act, omission or delay in acting by any governmental
authority or the other Party. The affected Party shall notify the other Party of such force majeure circumstances as soon as reasonably practicable. 
  

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 10.2. Assignment. The Agreement may not be assigned or otherwise transferred without the prior written consent of
the other Party, which consent shall not be unreasonably withheld; provided, however, that MEDICINOVA may assign this Agreement to an Affiliate or in connection with the transfer or sale of its business or all or substantially all of its assets or
in the event of a merger, consolidation, change in control or similar corporate transaction. MECINOVA shall promptly inform RIKEN of the Assignment in a written form. Any permitted assignee shall assume all obligations of its assignor under this
Agreement. 
  
 10.3. Severability. In the event that any of the provisions
contained in this Agreement are held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of
the invalidated provision(s) adversely affect the substantive rights of the Parties. In such event, the Parties shall replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as
practical, implement the purposes of this Agreement. 
  
 10.4. Notices. All
notices or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier),
sent by internationally-recognized overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 
  

if to MEDICINOVA to: 
  
 MEDICINOVA, INC. 
 4370 La Jolla Village
Drive, Suite 400 
 San Diego, CA 92122 
 United States 
 Attention: Takashi Kiyoizumi, M.D., Ph.D. 
 Tel: 858.373.1500 
 Fax: 858.373.7000

  
 if to LICENSORS to: 
  
 RIKEN 
 Technology Transfer Division 
 2-1 Hirokawa

 Wako-shi, Saitama 351-0198 
 Japan 
 Attention: Hideki Okawara 
 Tel:+81-48-467-9762 
 Fax::+81-48-462-4609 
  

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 or to such other address as the Party to whom notice is to be given may have furnished to the other Parties in writing in
accordance herewith. Any such communication shall be deemed to have been given when delivered if personally delivered or sent by facsimile on a Business Day, upon confirmed delivery by internationally-recognized overnight courier if so delivered and
on the seventh (7th) Business Day following the date of mailing if sent by registered or certified mail. 

 
 10.5. Applicable Law. The Agreement shall be governed by and construed in
accordance with the laws of the United States of America and State of New York without reference to any rules of conflict of laws. 
  
 10.6. Dispute Resolution. 
  
 (a) The Parties agree to attempt initially to solve all claims, disputes, or controversies arising under, out of, or in connection with this Agreement (a
“Dispute”) by conducting good faith negotiations. Any Disputes which cannot be resolved by good faith negotiation within twenty (20) Business Days, shall be referred, by written notice from either Party to the other, to the Chief Executive
Officer of each Party. Such Chief Executive Officers shall negotiate in good faith to achieve a resolution of the Dispute referred to them within twenty (20) Business Days after such notice is received by the Party to whom the notice was sent. If
the Chief Executive Officers are unable to settle the Dispute between themselves within twenty (20) Business Days, they shall so report to the Parties in writing. The Dispute shall then be referred to mediation as set forth in the following
subsection (b). 
  
 (b) Upon the Parties receiving the Chief
Executive Officers’ report that the Dispute referred to them pursuant to subsection (a) has not been resolved, the Dispute shall be referred to mediation by written notice from either Party to the other. The mediation shall be conducted
pursuant to the LCIA Mediation Procedure. In the event MEDICINOVA is the claimant, the mediation shall be held in Japan; in the event any LICENSOR is the claimant, the mediation shall be held in the United States, in the state of California. The
language of the mediation shall be English. If the Parties have not reached a settlement within twenty (20) Business Days of the date of the notice of mediation, the Dispute shall be referred to arbitration pursuant to subsection (c) below.

  
 (c) If after the procedures set forth in subsections (a) and
(b) above, the Dispute has not been resolved, a Party shall decide to institute arbitration proceedings, it shall give written notice to that effect to the other Party. The Parties shall refrain from instituting the arbitration proceedings for a
period of sixty (60) days following such notice. During such period, the Parties shall continue to make good faith efforts to amicably resolve the dispute without arbitration. If the Parties have not reached a settlement during that period the
arbitration proceedings shall go forward and be governed by the LCIA Arbitration Rules then in force. Each such arbitration shall be conducted by a panel of three arbitrators with appropriate experience in the biotechnology or pharmaceutical
industry: one arbitrator shall be appointed by each of 

  

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MEDICINOVA and RIKEN and the third arbitrator, who shall be the Chairman of the tribunal, shall be appointed by the two-Party appointed arbitrators. In the
event MEDICINOVA is the claimant, the arbitration shall be held in Japan; in the event any LICENSOR is the claimant, the arbitration shall be held in the United States, in the state of California. The language of the arbitration shall be English.

  
 The tribunal shall issue its award within forty-five (45) days after the date
on which the arbitration proceedings have closed. The arbitrators shall have the authority to grant specific performance. Judgment upon the award so rendered may be entered in any court having jurisdiction or application may be made to such court
for judicial acceptance of any award and an order of enforcement, as the case may be. In no event shall a demand for arbitration be made after the date when institution of a legal or equitable proceeding based on such claim, dispute or other matter
in question would be barred by the applicable statute of limitations. Each Party shall bear its own costs and expenses incurred in connection with any arbitration proceeding and the Parties shall equally share the cost of the mediation and
arbitration levied by the LCIA. 
  
 Any mediation or arbitration proceeding
entered into pursuant to this Section 10.6 shall be conducted in the English language. Subject to the foregoing, for purposes of this Agreement, each Party consents, for itself and its Affiliates, to the jurisdiction of the courts of the State of
California. 
  
 10.7. Entire Agreement. This Agreement contains the entire
understanding of the Parties with respect to the subject matter hereof. All express or implied agreements and understandings, either oral or written, heretofore made are expressly merged in and made a part of this Agreement. This Agreement may be
amended, or any term hereof modified, only by a written instrument duly executed by all Parties hereto. 
  
 10.8. Independent Contractors. It is expressly agreed that the Parties shall be independent contractors and that the relationship between the Parties shall not constitute a partnership, joint venture or agency.
Neither Party shall have the authority to make any statements, representations or commitments of any kind, or to take any action, which shall be binding on the other Party, without the prior consent of such other Party. 
  
 10.9. Waiver. The waiver by a Party hereto of any right hereunder or the failure to
perform or of a breach by another Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by said other Party whether of a similar nature or otherwise. 
  
 10.10. Headings. The captions to the several Articles and Sections hereof are not a
part of the Agreement, but are merely guides or labels to assist in locating and reading the several Articles and Sections hereof. 
  
 10.11. Counterparts. The Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 
  

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 10.12. Right to Develop Independently. Nothing in this Agreement shall be deemed to prevent MEDICINOVA from
commercializing products similar to or competitive with a Product. Nothing in this Agreement will impair MEDICINOVA’S right to independently acquire, license, develop for itself, or have others develop for it, intellectual property and
technology performing similar functions as the Compound or Product or to market and distribute products based on such other intellectual property and technology. 
  
 10.13. Further Assurances. At any time or from time to time on and after the date of this Agreement, each Party shall at the request
of the other (i) deliver to the other such records, data or other documents consistent with the provisions of this Agreement, (ii) execute, and deliver or cause to be delivered, all such consents, documents or further instruments of transfer or
license, and (iii) take or cause to be taken all such actions, as the other Party may reasonably deem necessary or desirable in order for the other Party to obtain the full benefits of this Agreement and the transactions contemplated herein.

  
 10.14. LIMITATION OF LIABILITY. NO PARTY SHALL BE LIABLE TO ANY OTHER
FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL OR INDIRECT DAMAGES ARISING OUT OF THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY. 
  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first set forth above. 
  

			
	 RIKEN

		
	 By:
	 	 /s/ Tasaburo Masuda

	 Name:
	 	 Tasaburo Masuda

	 Title:
	 	 Chief Executive Officer

  

			
	 MEDICINOVA, INC.

		
	 By:
	 	 /s/ Takashi Kiyoizumi

	 Name:
	 	 Takashi Kiyoizumi, M.D., Ph.D.

	 Title:
	 	 President and Chief Executive Officer

  

			
	 Dr. Katsuhiko Mikoshiba

		
	 By:
	 	 /s/ Katsuhiko Mikoshiba

  

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 SCHEDULE 1.23 
 PATENT ASSETS 
  

							
	 Country

	 	 Application No.

	 	 Application Date

	 	 Patent No.

	[**]	 	[**]	 	[**]	 	 
	[**]	 	[**]	 	 [**]    (Internal Priority Filing based on the Japanese Patent Application No.
[**])

	[**]	 	[**]	 	[**]	 	 
	 [**]
	 	[**]	 	[**]	 	[**]
	[**]	 	[**]	 	[**]	 	 

  

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 EXHIBIT 1.29 
  
 RIKEN/MIKOSHIBA AGREEMENT 
  
 Agreement for Joint Application (English translation by RIKEN) 
  
 Rikagaku Kenkyuusho having its registered office at 2-1 Hirosawa, Wako-shi, Saitama 351-0198 Japan ( hereafter called “ Riken” ) and Dr. Katsuhiko Mikoshiba
whose registered residence at 2-19-25 Inokashira, Mitaka, Tokyo, Japan ( hereafter called “Mikoshiba” ) entered into the following agreement with respect to the invention specified below. ( hereafter called “Invention”).

  
 Specifics of the Invention 
  
 Date of the Application; [**] 
  
 Application Number; [**] 
  
 Title of the Invention; [**] 
  
 Article 1. (Shares in the Right) 
  
 1. The right to obtain patent both in Japan and in foreign countries with respect to the invention and patent right to be obtained based on such right to obtain patent (
hereafter called “ the Patent etc” ), shall be jointly owned by Riken and Mikoshiba. Each party share in of the Patent etc. shall be as follows: 
  
 Riken [**] and Mikoshiba [**] 
  

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 Article 2. (Procedure) 
  
 1. After the consultation with Mikoshiba 
  
 Riken shall carry out various procedures before the Patent Office, concerning the Invention such as application for patent examination, application for patent trial, and
the payment of patent fees (hereafter called “ Procedure of the Invention”) and Mikoshiba shall cooperate with Riken. 
  
 2. Riken may appoint and replace its representatives with respect to Procedure of the Invention and shall consent thereto. 
  
 Article 3. (Sharing of Expenses) 
  
 1. Riken and Mikoshiba shall each share, in proportion to each party’s share in the
right provided by Article 1. hereof, the stamp duties to be paid to the Patent Office for Procedures of the Invention as well as fees to be paid to patent attorney, and Riken and Mikoshiba shall pay these expenses at the request by their
representatives. In the event Riken paid certain expenses for Mikoshiba which Mikoshiba is obligated to pay, Mikoshiba shall immediately reimburse such expenses to Riken at Riken’s request for reimbursement. 
  
 Article 4. (Working by Mikoshiba) 
  
 1. Riken will not work the Patent. 
  
 2. Mikoshiba will give a notice to Riken when he decides to work the Patent. 
  
 3. In the event Mikoshiba works the Patent, Mikoshiba shall pay to Riken an amount of money
calculated by multiplying an amount of royalty which is equivalent to what is received for licensing of the Patent etc. to a third party and Riken’s share stipulated in Article 1. 
  

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 Article 5. (Licensing to a Third Party) 
  
 1. If and when the Patent etc. is licensed to a third party, Riken and Mikoshiba shall
consult with each other with respect to the conditions etc. of such licensing. Provided, however, the consultation is not consummated before the date designated by Riken, Mikoshiba shall accept Riken’s intention. 
  
 2. In the event Riken and Mikoshiba received a royalty payment from the third party as a
result of licensing under the preceding paragraph, Riken and Mikoshiba share the amount of royalty in proportion to each party’s share provided by Article hereof. 
  
 Article 6. (Dispute with a Third Party) 
  
 If and when either Riken or Mikoshiba becomes aware that the Patent etc. is infringed or is going to be infringed by a third party, said
party shall inform the fact to the other party and Riken and Mikoshiba shall cope with such infringement in cooperation with each other. Expenses incurred thereafter or recoveries for the damage from the third party shall be in principle shared or
distributed, as the case may be, between Riken and Mikoshiba in proportion to each party’s share ratio provided by Article 1. hereof. 
  
 Article 7. (Assignment of Share in the Patent etc.) 
  
 1. If and when Mikoshiba assigns its share in the Patent etc. provided by Article 1. hereto to a third party, Mikoshiba shall obtain in
advance Riken’s written consent thereto pursuant to Paragraph 3 of Article 33 and Paragraph 1 of Article 73 of the Patent Law. 
  

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 2. If and when Mikoshiba obtained Riken’s written consent specified by the preceding paragraph, Mikoshiba shall
cause the third party who becomes the assignee to succeed to the rights and obligations of Mikoshiba which are provided by the Agreement hereof. Such succession of the rights and obligations shall be confirmed by Riken in writing. If and when the
said assignee fails to fulfill the rights and obligations, Mikoshiba shall be jointly and severally liable with the assignee for the damage caused by the failure. 
  
 Article 8. (Waiver of Share in the Patent etc.) 
  
 1. In the event Mikoshiba desired to waive its own share in the Patent etc. provided by
Article 1. hereof, Mikoshiba shall in advance notify Riken in writing. 
  
 2. In
the following events, Mikoshiba shall be deemed to have waived its share in the Patent etc. 
  
 (1) If and when Mikoshiba fails to fulfill its obligation to render its cooperation provided by Article 3. hereof within a month from the date of request for payment by Riken or its representative. 
  
 (2) If and when Mikoshiba fails to fulfill its obligation to render its
cooperation provided by Paragraph 1 of Article 2. and Article 6. until the date designated by Riken. 
  
 3. In the event Mikoshiba waived its share in the Patent etc. in accordance with Paragraph 1 or 2 of this Article, Riken, at its option, may succeed to Mikoshiba’s share in the Patent etc. without making any
payment to Mikoshiba. Mikoshiba shall cooperate with Riken in various procedures necessary for such succession such as the change of the name of patent application which shall be prosecuted by Riken at its expense. 
  

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 4. In the event Mikoshiba’s obligation to cooperate with Riken provided by the preceding paragraph is not fulfilled
on or before the date designated by Riken and the procedures of the preceding Paragraph is not completed, then, the Patent etc. shall be deemed to be solely owned by Riken and Riken may dispose of the Patent etc. at its discretion. 
  
 Article 9. (Patent Application based on Priority Claim)

  
 Whether or not an application based on Priority Claim concerning the
Invention may be filed should be determined through the consultation between Riken and Mikoshiba prior to filing of such an application. Various conditions for joint application according to Article 9. hereof should be determined pursuant to the
Agreement. 
  
 Article 10. (Patent Application in
Foreign Countries) 
  
 Whether or not an application for a patent concerning the
Invention may be filed in a foreign country to its Patent Office shall be determined through the consultation between Riken and Mikoshiba prior to filing of such an application. Various conditions for patent application in foreign countries
according to Article 10. hereof should be determined pursuant to the Agreement. 
  
 Article 11. (Notice) 
  
 1. Any and all notice to Mikoshiba to be made by Riken or by its representative pursuant to the provisions of this Agreement shall be dispatched to the following address;
Mikoshiba’s address is 2-19-25 Inokashira, Mitaka, Tokyo, Japan. 
  

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 2. If and when Mikoshiba changed its address specified in the preceding paragraph, Mikoshiba shall notify Riken of such
change in writing within fourteen (14) days from the date of such changing. 
  
 3.
Any and all notice to Mikoshiba to be made by Riken or its representative pursuant to the provisions of this Agreement shall be deemed to be received by Mikoshiba after the lapse of seven (7) day period starting from the next day of the date of
dispatch. Provided, however, if and when Mikoshiba’s address is located outside of Japan, such period shall be fourteen (14) days. 
  
 Article 12. (Term of the Agreement) 
  
 This Agreement shall be effective from the date of application for the Patent etc. concerning the Invention until the date of expiration of the Patent etc. 
  
 Article 13. (Miscellaneous) 
  
 In the event any question arises in connection with any and all matters which are not
provided in this Agreement or any and all matter in this Agreement, Riken and Mikoshiba shall consult with each other in good faith and resolve the question. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly signed in two originals and Riken and Mikoshiba shall each retain one original. 

 

	
	
	  
	 Signature blank for Riken and Mikoshiba

  

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 32Exclusive License Agreement

  
 Exhibit 10.7

  

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 EXCLUSIVE LICENSE AGREEMENT 
  
 This Exclusive License
Agreement (the “Agreement”) is made as of this 25th day of February, 2004 (the “Effective Date”) by and between Kissei Pharmaceutical Co., Ltd., a corporation duly organized and existing under the laws of Japan and having its
registered office at 19-48, Yoshino, Matsumoto-City, Nagano-Prefecture 399-8710, Japan (“Kissei”) and MediciNova, Inc., a corporation duly organized and existing under the laws of the State of Delaware, United States and having its
registered office at 4350 La Jolla Village Dr., Ste. 950, San Diego, California 92122, USA (“MediciNova”). Each of Kissei and MediciNova is referred to herein as a “Party” and collectively, as the “Parties.” 

 
 WITNESSETH THAT: 
  
 WHEREAS, Kissei has developed Compound for premature labour and is the owner
of all rights and title to and interest in the Kissei Intellectual Property; 
  
 WHEREAS, MediciNova desires to obtain from Kissei an exclusive license in the MediciNova Territory with respect to the Compound and the Product under such Kissei Intellectual Property and Kissei desires to grant such
license to MediciNova on the terms and conditions set forth herein. 
  
 NOW, THEREFORE, in consideration of the covenants and obligations expressed herein, and intending to be legally bound, the Parties hereto agree as follows: 
  

	1	Definitions 

  
 1.01 “Act” means the United States Food Drug and Cosmetic Act of 1934, and the rules and regulations promulgated thereunder, or any
successor act, as the same shall be in effect from time to time. 
  
 1.02 “Active Pharmaceutical Ingredient” or “API” means the actual Compound, in bulk form, used as the active pharmaceutical ingredient in the manufacture of Products that MediciNova develops hereunder or
which MediciNova uses to develop, manufacture and sell the Product hereunder. 
  

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WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 1.03 “Affiliate” means any person, corporation, firm, partnership, limited liability
company or other entity that controls, is controlled by or is under common control with a Party to this Agreement. For purposes of this definition, an entity will be regarded as in “control” of another corporation if (a) it owns or
directly or indirectly controls at least 50% of the voting stock of the other corporation or such lesser maximum percentage permitted in those jurisdictions where majority ownership by foreign entities is prohibited, (b) it owns or has a right to at
least 50% of the net assets of an entity without voting securities, or (c) it possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of the entity, whether through contract or otherwise.

  
 1.04 “Business Day(s)” means any day that is
not a Saturday or a Sunday or a day on which the New York Stock Exchange or the Tokyo Stock Exchange is closed. 
  
 1.05 “cGMP” means current applicable good manufacturing practices as defined in regulations promulgated by the FDA under the Act and, if
applicable, corresponding applicable laws and regulations of other countries in the MediciNova Territory relating to the manufacture, testing prior to delivery, storage and delivery of the Compound. 
  
 1.06 “Compound” means the compound, defined as [**]
with the internal Kissei code name of [**] and any other compounds disclosed or included in, or covered by any of the Kissei Patents listed on Exhibit A. 
  
 1.07 “Commercially Reasonable Efforts” means such efforts which are no less than those efforts used by
MediciNova with its own compounds and products having comparable commercial potential, stage of development, medical/scientific, technical and regulatory profile, intellectual property protection, the competitiveness of the intended marketplace, and
other relevant factors. 
  
 1.08 “Control” means,
with respect to any Patent, Know-How, Trademark or other intellectual property right, that the Party controlling such right owns a transferable interest or has a license to practice such Patent, Know-How, Trademark or right and has the ability to
grant the other Party access, a license or a sublicense (as applicable) to practice such Patent, Know-How, Trademark or right. 
  
 1.09 “Cost of Goods Sold” means, with respect to Active Pharmaceutical Ingredient, the actual fully allocated cost of
manufacturing such Active Pharmaceutical Ingredient calculated in accordance with GAAP or appropriate accounting principles similar to GAAP, which consists of (i) the direct cost of any raw materials, intermediates, packaging materials and labour
(including benefits) utilized in such manufacturing (including filling, finishing, quality control and stability testing, labelling and packaging, as applicable), (ii) an appropriate share of factory overhead allocated to the Active Pharmaceutical
Ingredient being manufactured, (iii) handling charges like transportation costs and insurance related thereto and (iv) the net cost or credit of any value-added taxes actually paid or utilized by such Party or Affiliate in respect of the manufacture
of the Active Pharmaceutical Ingredient. It is understood and agreed that in the case of Active Pharmaceutical Ingredient manufactured by Third Parties, Cost of Goods Sold means such payments made to such 

  

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Third Parties for the acquisition of such Active Pharmaceutical Ingredient, as well as the net cost or credit of any value-added taxes actually paid or
utilized by the purchaser in respect of such acquisition of such Active Pharmaceutical Ingredient. 
  
 1.10 “EMEA” means the European Agency for the Evaluation of Medicinal Products based in London (UK), as established by Council Regulation
n° 2309/93 of July 22, 1993, as subsequently amended by Commission Regulation 649/98 of March 23, 1998, or any successor agency thereto.  
  
 1.11 “End of Phase 2 Meeting” means the first end of Phase 2 meeting with the FDA, as defined in 21 CFR Section 312.47, intended to
determine the safety of proceeding to Phase III Clinical Study, evaluate the Phase III Clinical Study plan and protocols and identify any additional information necessary to support an NDA for Product in the USA, or any applicable meeting or event
outside the USA in the MediciNova Territory. 
  
 1.12
“FDA” means the United States Food and Drug Administration, or any successor agency thereto. 
  
 1.13 “Field” means the treatment, palliation or prevention of disease, including premature labour in human beings. 
  
 1.14 “First Commercial Sale” means the first sale of
Product, on a country-by-country basis, by MediciNova, its Affiliate or its sublicensee(s), for end use or consumption, after all required Regulatory Approvals have been granted by the Regulatory Authorities of such country. 
  
 1.15 “GAAP” means generally accepted accounting principles
in the United States, consistently applied. 
  
 1.16
“Generic Drug” means any product containing Compound other than a Product introduced in such country by MediciNova or its Affiliates or its sublicensees. 
  
 1.17 “Generic Competition” exists or is deemed to exist, in any particular country, commencing on where IMS
or IMS- equivalent data is available, the first date on which Generic Drugs in any and all formulations achieve a market share [**] or greater of the total prescriptions for Product in such country (as so shown by the average of the monthly
IMS (or IMS-equivalent) data for such prescriptions). 
  
 1.18
“Improvement” means any and all technical information, patentable or non-patentable, Controlled by either Party which cover any improvement, invention or discovery concerning the Compound or the Product licensed hereunder including,
without limitation, new or improved methods of manufacture, formulas, uses and indications, methods of delivery and dosage forms thereof as well as the addition of other active ingredients. 
  
 1.19 “IND” means an investigational new drug application and
any amendment thereto filed with FDA in conformance with applicable laws and regulations, for the purposes of initiating 

  

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clinical trials of a pharmaceutical compound in the United States or the equivalent application in any other regulatory jurisdiction in the MediciNova
Territory. 
  
 1.20 “Initiation” means with
respect to any clinical study, the start of patient treatment for such clinical study by or on behalf of MediciNova. 
  
 1.21 “Kissei Intellectual Property” means the Kissei Patents and the Kissei Know How. 
  
 1.22 “Kissei Know-How” means all Know-How Controlled by
Kissei or its Affiliates, and licensees (other than MediciNova) on the Effective Date and all Know-How which becomes Controlled by Kissei, its Affiliates, and licensees (other than MediciNova) during the term of this Agreement. 
  
 1.23 “Kissei Patents” means all Patents Controlled by Kissei
or its Affiliates and licensees (other than MediciNova) as of the Effective Date, and all Patents that relate to the Compound or Product in the MediciNova Territory that become Controlled by Kissei or its Affiliate during the term of this Agreement,
including the Patents listed on Exhibit A. 
  
 1.24
“Kissei Territory” means Japan. 
  
 1.25
“Know-How” means all technical information specifically relating to the Compound or the Product in the Field, including, all biological, toxicological, chemical information, biochemical information, metabolic, non-clinical,
pre-clinical, clinical, pharmacological, pharmacokinetic data, physico-chemical properties, assay, formulation, quality control, synthetic process, and manufacturing method and data, specifications, and any other information or inventions relating
thereto. 
  
 1.26 “Major European Countries”
means France, Germany, and the United Kingdom. 
  
 1.27
“MediciNova Know-How” means all Know-How which is at the Effective Date or thereafter becomes Controlled by MediciNova or its Affiliates during the term of this Agreement. 
  
 1.28 “MediciNova Patents” means all Patents that relate to
the Compound or Product that become Controlled by MediciNova or its Affiliates during the term of this Agreement. 
  
 1.29 “MediciNova Territory” means all countries of the world, except for Japan. 
  
 1.30 “NDA” means, (i) in the United States, a new drug
application as defined in the Act and applicable regulations promulgated thereunder and submitted to the FDA to obtain Regulatory Approval of Product in the United States, and all subsequent amendments and supplements to such NDA, and (ii) in
regulatory jurisdictions outside the United States, such submissions filed with the applicable Regulatory Authority in such regulatory jurisdiction to obtain 

  

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Regulatory Approval of Product in such regulatory jurisdiction, and any amendments and supplements thereto. 
  
 1.31 “Net Sales” means with respect to any Product, the
gross amounts invoiced by MediciNova or its Affiliates to Third Party customers for sales or other transfers or disposition of a Product commencing as of the date of First Commercial Sale, less: 
  

	 	(i)	customary trade, quantity, and cash discounts or rebates actually allowed on Product; 

  

	 	(ii)	credits or allowances given to customers for rejections or returns of Product or on account of retroactive price reductions affecting such Product; 

  

	 	(iii)	sales taxes, excise taxes, use taxes, import/export duties or other governmental charges actually due or incurred with respect to the production, importation, use or sale of a
Product to Third Parties; 

  

	 	(iv)	Product rebates and Product chargebacks, or similar payments or credits consistent with industry standards granted to managed health care organizations, wholesalers, distributors,
buying groups, retailers, health care insurance carriers, pharmacy benefit management companies, health maintenance organizations or other institutions or health care organizations or to federal, state/provincial, local and other governments, their
agencies and purchasers and reimbursers; and 

  

	 	(v)	write-offs or allowances for bad debts. 

  
 1.32 “Patent” means all patents and patent applications, including provisionals and priority filings, utility models and their
applications (which shall be deemed to include certificates of invention and applications for certificates of invention and supplementary protection certificates), and which specifically or generically claim the Compound or Product, claim a use for
the Compound or Product, claim a method of making the Compound or Product or otherwise covers the Compound or Product, including but not limited to the patents and patent applications listed on Exhibit A, which exhibit may be amended from time to
time by the Parties, together in all cases with any continuations, continuations-in-part, divisions, patents of addition, reexaminations, reissues, renewals as well as extensions, supplementary protection certificates and any other patent term
extensions of any of the foregoing. 
  
 1.33 “Phase III
Clinical Study” means a large scale clinical trial conducted after an End of Phase 2 Meeting and conducted on a sufficient number of patients that is designed to establish that Product is safe and efficacious for its intended use, and to
define warnings, precautions and adverse reactions that are associated with Product in the dosage range to be prescribed, and supporting marketing authorization of Product. 
  

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 1.34 “Product” means any and all pharmaceutical preparations in the Field in any
finished dosage packaged form for sale to Third Parties which contains the Compound or combinations thereof as at least one of the primary therapeutically active ingredients. 
  
 1.35 “Regulatory Approval” means, in any jurisdiction in the MediciNova Territory, all approvals (including
where applicable pricing and reimbursement approvals required for marketing authorization), product and/or establishment licenses, registrations or authorizations necessary for the manufacture, use, storage, import, export, transport and marketing
and/or sale of Product, to the extent such approvals are required in such jurisdiction. 
  
 1.36 “Regulatory Authorities” means the FDA in the U.S., and any health regulatory authority(ies) in any country(ies) in the MediciNova Territory that is substantially equivalent to the FDA and holds
responsibility for granting Regulatory Approval for a Product in such country(ies), and any successor(s) thereto having substantially the same functions. 
  
 1.37 “Regulatory Filings” means (i) with respect to the United States, any IND or NDA, and (ii) with respect to countries or
jurisdictions outside the United States but still within the MediciNova Territory, any filings, registrations or applications equivalent to an IND or NDA. 
  
 1.38 “Sublicense Royalty Payments” means (i) royalties based on net sales of Product in any country in the MediciNova Territory and (ii)
any other payments that are received by MediciNova after the First Commercial Sale of Product in such country from a sublicensee of any of the rights granted by Kissei to MediciNova under Section 2.01 of this Agreement, as consideration for the
grant of such sublicense (but specifically excluding any amounts received by MediciNova from sublicensees to fund or reimburse MediciNova’s research and development costs in connection with Product after the date of the sublicense. 

 
 1.39 “Third Party” means any party other than a Party to
this Agreement and such Party’s Affiliate. 
  
 1.40
“Valid Claim” means any claim contained in an issued and unexpired Kissei Patents which has not been held unenforceable, unpatentable or invalid by a decision of a court or other governmental agency of competent jurisdiction, and
which has not been admitted to be invalid or unenforceable through abandonment, reissue, disclaimer or otherwise. 
  

	2	Grant 

  
 2.01 Grant of Rights. Kissei hereby grants to MediciNova an exclusive license, with the right to grant sublicenses, under the Kissei Intellectual
Property to use and develop the Compound in the Field in the MediciNova Territory, and to make, have made, use, develop and sell, offer to sell and import the Product in the Field in the MediciNova Territory. 
  
 2.02 Sublicenses. Any sublicense granted by MediciNova shall be
subject to the terms and conditions of this Agreement. MediciNova may grant sublicenses to its Affiliates or, with Kissei’s prior written approval, to a Third Party which approval shall not be unreasonably withheld 

  

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or delayed by Kissei. In addition, MediciNova may use contractors in the drug development, non-clinical development and clinical testing, formulation and
manufacturing of Product. In case that MediciNova grant sublicenses to its Affiliates or a Third Party, MediciNova shall provide Kissei with a copy of any sublicense agreement with a Third Party. 
  
 2.03 Improvements. Title to any Improvement developed, discovered
and/or reduced to practice solely by MediciNova in connection with the licenses granted under Section 2.1 above shall be vested solely in MediciNova. Title to any Improvement developed, discovered and/ or reduced to practice solely by Kissei shall
be vested solely in Kissei, subject to the licenses granted under Section 2.1 above. 
  

	3	Disclosure of Know-How 

  
 3.01 Disclosure of Kissei Know-How. Forty five (45) days after the Effective Date of this Agreement, Kissei shall disclose or make available to
MediciNova all of the Kissei Intellectual Property not previously made available to MediciNova except the Kissei Intellectual Property related to manufacturing Active Pharmaceutical Ingredient. Thereafter during the term of this Agreement, Kissei
shall disclose or make available to MediciNova all future Kissei Know-How on a regular basis, provided that all material new Know-How shall be provided without delay, except the Kissei Intellectual Property related to manufacturing Active
Pharmaceutical Ingredient, provided that such Kissei Intellectual Property related to manufacturing Active Pharmaceutical Ingredient shall be provided in accordance with the terms of the supply agreement referred to in Section 9.01 if applicable.

  
 3.02 Disclosure of MediciNova Know-How. MediciNova
shall disclose to Kissei, during the term of this Agreement, any and all MediciNova Know-How on a regular basis, provided that all material new Know-How shall be provided without delay. Kissei shall have the right to use and disclose the Know-How
received from MediciNova hereof to its Affiliates, its licensees, consultants and contractors in the Kissei Territory for their use and for the sole purpose of this Agreement. 
  

	4	Milestone Payments 

  
 4.01 Milestone Payments. In partial consideration of the license rights granted to MediciNova by Kissei at the Effective Date hereunder, MediciNova
shall pay to Kissei the following milestone amounts within thirty (30) days of and contingent upon the occurrence of the corresponding events described below: 
  

					
	 	  	 Event

	  	 Payment
 (in US Dollars):

	 (i)
	  	Receipt of first package of Kissei Know-How pursuant to Section 3.01	  	[**]
	 (ii)
	  	Initiation of Phase III Clinical Study	  	[**]

  

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	 	  	 Event

	  	 Payment
 (in US Dollars):

	 (iii)
	  	Filing of NDA in the USA	  	[**]
	 (iv)
	  	Filing of the NDA with the EMEA or in two or more of the Major European Countries	  	[**]
	 (v)
	  	Written Regulatory Approval in the USA	  	[**]
	 (vi)
	  	Written Regulatory Approval by the EMEA or in two or more of the Major European Countries	  	[**]
	 	  	TOTAL PAYMENTS	  	[**]

  
 4.02
Non-Refundable. Any payments made by MediciNova in accordance with Section 4.01 hereof shall, once they are paid, not be refundable nor creditable for any reason whatsoever. 
  
 4.03 Single Payments. The payments specified in Section 4.01 shall be made only one time upon the first occurrence of
the event described in Section 4.01, regardless of how many times such event may be achieved with regard to Compound or Product. 
  

	5	Royalties 

  
 5.01 Payment from MediciNova to Kissei. In partial consideration of the license rights granted to MediciNova at the Effective Date hereunder,
MediciNova shall pay to Kissei a royalty on Net Sales within sixty (60) days after the end of each Royalty Period in accordance with the provisions of this Section 5. 
  
 5.02 Royalty Rates and Term. 
  

(a) In each country in the MediciNova Territory in which the manufacture, use or sale of Product or Compound would, absent the license granted
hereunder, infringe one or more Valid Claims of the Kissei Patents in such country (the “Patent Countries”), the royalty rate shall be [**] of Net Sales. Royalties on Net Sales in the Patent Countries shall accrue as of the date of
First Commercial Sale in the applicable country and shall continue and accrue on Net Sales on a country-by-country basis until the expiration of the last to expire Kissei Patents containing a Valid Claim in such country. Thereafter, MediciNova shall
be relieved of any royalty payment under this Section 5.02 (a) but shall be subject to royalties under Section 5.02 (b), if applicable 
  
 (b) In any country in the MediciNova Territory in which (i) there were no Valid Claims of Kissei Patents or (ii) the last to expire Kissei Patents
containing a Valid Claim expired prior to ten (10) years from the date of First Commercial Sale (the “Know-How Countries”), the royalty rate in such country shall be [**] of Net Sales. Royalties on Net Sales in the Know-How
Countries shall accrue at the rate set forth in the preceding sentence immediately upon (i) the date of First Commercial Sale, in any country in the MediciNova Territory in which there was no Valid Claims of the Kissei Patents as of the date of
First Commercial Sale in such country or (ii) the date immediately following the date of the expiration of the last to expire Kissei Patent in such country 

  

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that contained a Valid Claim (provided such expiration occurs prior to ten (10) years from the date of First Commercial Sale in such country), and shall
continue and accrue on Net Sales in such country for a period expiring ten (10) years from the date of First Commercial Sale in such country. Thereafter, MediciNova shall be relieved of any royalty payment under this Section 5.02 (b). 
  
 (c) Notwithstanding the provisions of Section 5.02 (a) and 5.2 (b), no
royalties shall be payable in respect of Net Sales in any country after the date that Generic Competition exists in such country. 
  
 5.03 Kissei shall be responsible for payment of, shall pay and shall indemnify MediciNova against any losses, liabilities or claims arising out of or for,
any royalties or other payments, obligations or amounts owed to any Third Party listed on Schedule 10, as a result of the rights granted by Kissei to MediciNova and the amounts payable by MediciNova to Kissei pursuant to the terms of this Agreement.

  
 5.04 Combination Product. Notwithstanding the
provisions of Section 5.02, in the event a Product is sold as a combination product with other biologically active components, Net Sales, for purposes of royalty payments on the combination product, shall be calculated by multiplying the Net Sales
of that combination product by the fraction A/B, where A is the gross selling price of the Product sold separately and B is the gross selling price of the combination product. If no such separate sales are made by MediciNova or its Affiliates, Net
Sales for royalty determination shall be calculated by multiplying Net Sales of the combination product by the fraction C/(C+D), where C is the commercial value of the Compound and D is the commercial value of such other biologically active
components, provided that both Parties shall determine C and D prior to the start of clinical development of the combination product. 
  
 5.05 Accounting of Royalties. No royalty shall be payable on a Product made or used for tests or development purposes, or distributed as samples
and for which no payment other than cost reimbursement is received by MediciNova, or its Affiliates or sublicensees. No royalties shall be payable on sales among MediciNova and its Affiliates or its sublicensees, but royalties shall be payable on
subsequent sales by MediciNova and its Affiliates or its sublicensees to a Third Party. Only one royalty payment shall be due with respect to the same unit of Product. 
  
 5.06 Compulsory Licenses. If a compulsory license is granted to a Third Party under the applicable laws of any
country in the MediciNova Territory with respect to Product in such country with a royalty rate lower than the applicable royalty rate provided by Section 5.02, then the royalty rate to be paid by MediciNova on Net Sales in that country shall be
reduced to the rate paid by the compulsory Third Party licensee during the period that Generic Competition exists. 
  
 5.07 Royalty Reports; Records. During the term of this Agreement after First Commercial Sale, MediciNova shall furnish or cause to be furnished to
Kissei on a quarterly basis (the “Royalty Period”) a written report or reports (the “Royalty Report”) covering: 
  
 (a) the Net Sales of all Product in each country of the MediciNova Territory during the Royalty Period; 
  

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 (b) the royalties, payable in US Dollars, which shall have accrued hereunder in respect to such Net
Sales; 
  
 (c) withholding taxes, if any, required by law to be
deducted in respect of such royalties; and 
  
 (d) the exchange
rates used in determining the amount of US Dollars. 
  
 5.08
Exchange Rates; Reports. With respect to sales of Product invoiced in US Dollars, the Net Sales and royalty payable shall be expressed in such currency as it is. With respect to sales of Product invoiced in a currency other than US Dollars,
the Net Sales and royalty payable shall be expressed in the domestic currency of the country where such sale was made together with the US Dollars equivalent of the royalty payable, calculated in accordance with GAAP using the exchange rates posted
in The Financial Times (if available). Royalty Reports shall be due on the sixtieth (60th) day
following the close of each respective Royalty Period. MediciNova and its Affiliates shall keep contemporaneous, legible, verifiable and accurate records in sufficient detail to enable the royalties payable hereunder to be determined and
substantiated. 
  
 5.09 Withholding Tax. If laws, rules or
regulations require withholding of income taxes or other taxes imposed upon payments set forth in Section 4 or Section 5, MediciNova shall deduct any withholding taxes and other statutory duties from the royalties and other payments set forth in
Section 4 and 5 of this Agreement and pay them to the proper tax authorities required by law applicable at the date of payment. MediciNova shall maintain official receipts of payment of any withholding taxes and forward these receipts to Kissei.
Kissei shall cooperate with MediciNova regarding the withholding tax procedure including providing MediciNova, prior to any such payment, once each calendar year or more frequently if required, with all forms or documentation required by any
applicable taxation laws, treaties or agreements to such withholding or as necessary to claim a benefit thereunder (including, but not limited to United States Internal Revenue Service Form W-8BEN or any successor forms). 
  
 5.10 Exchange Controls. Notwithstanding any other provision of this
Agreement, if at any time legal restrictions prevent the prompt remittance of part or all of the royalties with respect to Net Sales in any country, payment shall be made through such lawful means or methods as both Parties may determine. When in
any country the law or regulations prohibit both the transmittal and deposit of royalties on sales in such a country, royalty payments shall be suspended for as long as such prohibition is in effect (and such suspended payments shall not accrue
interest stipulated in Section 5.10), and promptly after such prohibition ceases to be in effect, all royalties or other payments that MediciNova or its Affiliates would have been obligated to transmit or deposit, but for the prohibition, shall be
deposited or transmitted, as the case may be, to the extent allowable (with any interest earned on such suspended royalties which were placed in an interest-bearing bank account in that country, less any transactional costs). If the royalty rate
specified in this Agreement should exceed the permissible rate established in any country, the royalty rate for sales in such country shall be adjusted to the highest legally permissible or government-approved rate. 
  

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 5.11 Audit Rights. Kissei shall have the right to have an independent certified public accounting
firm of its own selection, except one to whom MediciNova, its Affiliate or its sublicensee may have reasonable objection, and at its own expense (except if the result of such audit results in a variation or error exceeding five percent (5%) of the
payments that were paid to Kissei), examine the relevant books and records of account of MediciNova and its Affiliate and its sublicensee during reasonable business hours upon reasonable prior written notice to MediciNova and not more often than
once each calendar year, for not more than three (3) previous years, to determine whether appropriate accounting and payment have been made to Kissei hereunder. Kissei may exercise such right until the end of three (3) years after the termination or
expiration of this Agreement. Upon the expiration of three years following the end of any Royalty Period the calculation of royalties payable with respect to such Royalty Period shall be binding and conclusive upon Kissei, and MediciNova shall be
released from any liability or accountability with respect to royalties for such period. 
  
 (a) MediciNova shall within sixty (60) days of receipt of a written report by such accounting firm concluding that additional royalties were owed, pay to Kissei the full amount of any underpayment, together with
interest thereon at the LIBOR Rate plus one percent (1%) compounding monthly from the date payment was due, but in no event in excess of the maximum rate permitted by applicable law. “LIBOR Rate” means an interest rate per annum equal to
the rate of interest per annum at which deposits in United States dollars are offered by the principal office of Citibank, N.A. in London, England, to prime banks in the London interbank market at 11:00 a.m. (London time) on the Business Day
immediately preceding the commencement of such interest period. 
  
 (b) The accounting firm shall disclose to Kissei only whether the Royalty Report is correct or incorrect and the specific details concerning any discrepancies and shall treat as confidential, and shall not disclose to Kissei, any
information other than information which shall be given to Kissei pursuant to this Section 5.10. 
  
 5.12 Third Party Licenses. In the event that (i) the Compound or a Product is deemed by a court of competent jurisdiction to infringe a valid claim
of a patent owned or Controlled by a Third Party in any given country of the MediciNova Territory, or (ii) MediciNova, its Affiliates or its sublicensees determine, after consultation with Kissei, that it is necessary to pay royalties or other fees
to any Third Party to obtain a license to practice any Third Parties rights in order to market, manufacture or develop a Compound or a Product in any given country of the MediciNova Territory, then in such event, MediciNova and its Affiliates may
deduct [**] of such royalties due to such Third Parties (or such amounts expended in settlement of such claim, or for securing such rights) from the royalties due to Kissei by MediciNova with respect to Net Sales of such Product or Sublicense
Royalty Payments in such country. The amount of the reduction in the royalty rate, however, shall in no case exceed [**] of the amounts that Kissei would have received according to Section 5 but for this provision. The provisions of this
Section 5.12 shall not apply to patents, if any, Controlled by any of the entities listed on Schedule 10, for which Kissei shall be solely responsible for any royalties or other payments. 
  

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 5.13 Payments in the Event of Sublicense. In the event MediciNova enters into one or more
sublicense agreement(s) with one or more Third Party or Third Parties under Section 2.02 of this Agreement, the respective percentages of royalties set forth in Section 5.02 would no longer be applicable to the Net Sales in the country or countries
covered by the sublicense agreement(s) and, in lieu thereof, MediciNova shall pay to Kissei the following respective percentages of the total Sublicense Royalty Payments for the concerned country(ies): 
  
 (a) [**] if the sublicense agreement is entered into prior to
[**]; or 
  
 (b) [**] if the sublicense agreement is
entered into after the [**]. 
  

	6	Development 

  
 6.01 Development Plan. Within three (3) months after the Effective Date, MediciNova shall submit to Kissei the general development plan for the
Product in the MediciNova Territory. Such development plan may be modified from time to time by MediciNova, if it judges such modification is appropriate but in such event MediciNova shall submit such modified development plan to Kissei. 

 
 6.02 Protocol Preparation. In the event that MediciNova prepares
the protocols for any non-clinical or clinical studies that MediciNova proposes to carry out, MediciNova shall provide Kissei for its prior review and comments with such protocols or summaries of such, and Kissei may give MediciNova comments thereon
within ten (10) days from the receipt thereof and MediciNova shall take into account such comments from Kissei as far as they are scientifically and objectively appropriate and reasonable provided, however, that MediciNova shall have the sole final
responsibility for decisions with respect to development in the MediciNova Territory. Similarly, in the event that Kissei prepares the protocols for any non-clinical or clinical studies that Kissei proposes to carry out, Kissei shall provide
MediciNova for its prior review and comments with such protocols or summaries of such, and MediciNova may give Kissei comments thereon within ten (10) days from the receipt thereof and Kissei shall take into account such comments from MediciNova as
far as they are scientifically and objectively appropriate and reasonable, provided, however, that Kissei shall have the sole final responsibility for decisions with respect to development in the Kissei Territory. 
  
 6.03 Commercially Reasonable Efforts. MediciNova shall use its
Commercially Reasonable Efforts at its own responsibility and expense to diligently pursue the development of the Product in accordance with MediciNova’s development plan. The obligations set forth in this Section 6 are expressly conditioned
upon the absence of any serious adverse conditions or event relating to the safety or efficacy of Compound or Product, including the absence of any action by any Regulatory Authority limiting the development or commercialization of Compound or
Product. 
  
 6.04 Development Delay. In the event that
MediciNova becomes aware that the development of the Product will be delayed more than six (6) months from its development plan with respect to the commencement of any clinical trials, submission of the NDA or receipt of 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
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Regulatory Approval in the MediciNova Territory, MediciNova shall promptly inform Kissei of that effect. 
  
 6.05 Regulatory Filings Submission. MediciNova shall make available to
Kissei, as part of MediciNova Know-How, any NDA filed in the MediciNova Territory and Kissei shall make available to MediciNova, as part of Kissei Know-How, any NDA filed in the Kissei Territory. MediciNova shall own and Control any NDA in the
MediciNova Territory and Kissei shall own and Control any NDA in the Kissei Territory. 
  
 6.06 Development Status Report. MediciNova shall provide Kissei with a development status report on the development activities of MediciNova or its Affiliates on an annual basis, with the delivery to the Kissei
of the summary of the annual report to an IND submitted to a Regulatory Authority in connection with the periodic reporting requirements of the IND (or comparable report in any jurisdiction other than the United States) to be in satisfaction of the
foregoing requirement. 
  
 6.07 Annual Meeting. During the
development of the Product by MediciNova or its Affiliate in the MediciNova Territory, Kissei and MediciNova shall meet or have a video-conference or telephone conference as often as reasonably necessary, but at least once a year, to exchange
information. 
  
 6.08 Development Data. MediciNova agrees
to provide Kissei, from time to time, with MediciNova Development Data, as part of MediciNova Know How, relating to the Compound and the Product for the purpose of allowing Kissei to conduct its own development program with respect to the the
Product in the Kissei Territory, and to file for Regulatory Approval in the Kissei Territory. For the purpose of this Section, MediciNova Development Data means all study reports for clinical and non-clinical studies and other information reasonably
requested by Kissei. 
  

	7	Marketing and Commercialization 

  
 7.01 Commercially Reasonable Efforts. MediciNova shall use Commercially Reasonable Efforts, at its own expense, to promote, market, distribute and
sell the Product in the MediciNova Territory. Subject to the terms and conditions of this Agreement, MediciNova shall have final responsibility for marketing the Product in the MediciNova Territory and for all decisions relevant to the MediciNova
Territory. 
  
 7.02 Commercialization. Within six (6)
months following receipt by MediciNova or its Affiliate or its sublicensee, of a Regulatory Approval and any necessary pricing and reimbursement approvals for the Product in the MediciNova Territory, MediciNova shall start, and shall ensure that its
Affiliate and its sublicensee start, the marketing and sales of the Product in such MediciNova 

  

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Territory with its Commercially Reasonable Efforts, at its own expense, and to use Commercially Reasonable Efforts to promote, market, distribute and sell
the Product consistent with accepted pharmaceutical business practice and applicable legal requirements. 
  
 7.03 Package Design. The design of the package of the Product for sale in the MediciNova Territory will be decided by MediciNova at its sole
discretion. However, MediciNova shall furnish Kissei with copies of all Product packages, package inserts and monographs as well as major promotional materials such as brochures, pamphlets and the like, to be used for marketing of the Product in the
Major Countries for Kissei’s archive. Unless prohibited by law, regulation, rule, regulatory agency policy or informal regulatory agency guidance in a country in the MediciNova Territory, all of such packages, package inserts, monographs and
promotional materials shall properly and clearly indicate in such reasonable shape, size and colour so as to render the indication plainly discernible and as specified or approved by Kissei the words, “developed, manufactured and sold by
MediciNova (or its designee) under license from Kissei Pharmaceutical Co., Ltd., Matsumoto, Japan”, or an equivalent wording in the relevant language in each country of the MediciNova Territory. 
  
 7.04 Option to Co-promote. Kissei retain the option to participate in
the promotion of the Product in the MediciNova Territory, on terms to be agreed to by MediciNova. Both Parties will negotiate in good faith to enter into a co-promotion agreement within 6 months of an NDA filing in the United States and the Major
European Countries. 
  

	8	Trademark 

  
 8.01 MediciNova shall, in its sole discretion, in its own name and at its own expense, select, register and own all right, title and interest in its own
trademark to be used for the Product in the MediciNova Territory (“Trademark”). 
  
 8.02 Kissei shall have the right to register the Trademark at Kissei’s expense and in Kissei’s name in the Kissei Territory solely for use with respect to Product in the Kissei Territory. In the event that
the Trademark has been registered by MediciNova in the Kissei Territory, MediciNova shall assign and transfer such Trademark registrations in the Kissei Territory to Kissei free of charge upon Kissei’s request. 
  
 8.03 MediciNova shall be responsible for the clearance of the Trademark in
the MediciNova Territory whereas Kissei shall be responsible for the clearance of the Trademark in the Kissei Territory. 
  
 8.04 MediciNova shall continue to be the owner of the Trademark in the MediciNova Territory after the expiration or termination of this Agreement.
MediciNova shall have the right to maintain the registrations of the Trademark in the MediciNova Territory at its own expense. 
  
 8.05 Neither Party shall use or maintain the Trademark nor will either Party apply for the Trademark outside of its respective territory, except that
MediciNova may apply to register the Trademark in the Kissei Territory subject to Section 8.02 above. Neither Party shall take action 

  

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which could prejudice the validity, registration or reputation of the Trademark and the goodwill associated with the same. 
  
 8.06 The Parties undertake to inform each other promptly on any material
opposition, infringement or threatened infringement of the Trademark in their respective territories, or challenge or threatened challenge to the validity of the Trademark or cancellation or threat thereof of any registration therefor coming to
their notice. In the MediciNova Territory, MediciNova shall have the exclusive right to take action in respect of the registration, defence, infringement, and maintenance of the Trademark and Kissei shall provide all such assistance and
co-operation, including but not limited to furnishing of documents and information and the execution of registered user documentation or the like as may be required to give effect to any action as may be taken, or required to be taken by MediciNova,
and in the Kissei Territory it is Kissei that shall have the corresponding rights for the Trademark. Each Party must approve in writing any proposed settlement by the other Party if such proposed settlement involves allowing the co-existence of the
Trademark with another mark in such Party’s respective Territory. 
  

	9	Manufacturing 

  
 9.01 Active Pharmaceutical Ingredient. 
  
 (a) Subject to the terms of a clinical supply agreement to be entered into between the Parties, Kissei shall have the sole right to manufacture and supply
to MediciNova in accordance with cGMP and other applicable regulatory requirements the Active Pharmaceutical Ingredient and MediciNova shall purchase such Active Pharmaceutical Ingredient from Kissei, for use in preclinical and clinical trials. The
supply price of such Active Pharmaceutical Ingredient shall be the Cost of Goods Sold. Notwithstanding the stipulation in Section 3.01, Kissei shall disclose or make available to MediciNova the Kissei Intellectual Property relating to manufacturing
Active Pharmaceutical Ingredient to the extent that such information is required by Regulatory Authorities to obtain Regulatory Approval or Kissei or its designee shall file a Drug Master File relating to the Active Pharmaceutical Ingredient. In the
event that Kissei or its designee files a Drug Master File relating to Active Pharmaceutical Ingredient, Kissei or such designee will allow MediciNova or its designees to cross reference any such Drug Master File free of charge. 
  
 (b) Subject to the terms of a commercial supply agreement to be entered into
between the Parties, Kissei shall also have the sole right to manufacture and supply Active Pharmaceutical Ingredient for commercial use by MediciNova or its designees in the MediciNova Territory. MediciNova or its designees shall have the right
free of charge to cross reference any Drug Master File, if any, owned or controlled by Kissei or its designee and relating to Compound necessary to obtain Regulatory Approval in any jurisdiction in the MediciNova Territory. No later than the date of
the End of Phase 2 Meeting (the date of which shall be provided to Kissei at least thirty (30) days in advance by MediciNova), the Parties or their respective designees shall negotiate in good faith to enter into a commercial supply agreement
containing commercially reasonable terms applicable to similar types of supply agreements, including provisions for MediciNova to provide Kissei with forecasts of its requirements of Product. In the case of Active Pharmaceutical Ingredient
manufactured by Third Parties, the supply price for commercial use means the price paid by Kissei 

  

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to such Third Parties for the acquisition of such Active Pharmaceutical Ingredient, as well as the net cost or credit of any value-added taxes actually paid
or utilized by Kissei in respect of such acquisition of such Active Pharmaceutical Ingredient, plus a percentage to be agreed to in good faith by the Parties in the commercial supply agreement. Both Parties agree that the supply price for commercial
use will not exceed [**], provided that both Parties will discuss in good faith and agree to the supply of Compound including the grant to MediciNova of rights to make or manufacture, or have made or manufactured the Active Pharmaceutical
Ingredient (i) if MediciNova is unable to obtain a reasonable profit (from the viewpoint of the pharmaceutical industry standard in the United States) based on Kissei’s supply price or if future economic conditions are changed materially; (ii)
if Kissei or its designee is unable to comply with regulatory requirements applicable to the manufacture of such Active Pharmaceutical Ingredient; or (iii) if Kissei or its designee is unwilling or unable to meet MediciNova’s requirements of
Active Pharmaceutical Ingredient. In such event, upon MediciNova’s request, Kissei will (x) expand the license granted to MediciNova under Section 2.01 hereof to include the right to make or have made Compound; and (y) assist MediciNova in the
transition of such manufacturing and supply to MediciNova or its designee, including providing technology and other transfer services at Kissei’s standard FTE rate. 
  
 (c) MediciNova, or its designees, shall have the right to periodically inspect/audit the manufacturing facilities and
records of Kissei or its designee to assure compliance with cGMP. Likewise, inspection/audit of manufacturing facilities and records by Regulatory Authorities shall be permitted by Kissei. The supply agreement will cover these and other matters
relating to inspection/audit. 
  
 9.02 Drug Product.
MediciNova shall have the sole right to manufacture the Product for the use in the MediciNova Territory. 
  

	10	Disclaimer; Representations and Warranties 

  
 10.01 Kissei does not warrant that MediciNova can successfully develop, obtain Regulatory Approvals for, or market the Product in the MediciNova Territory
by using and relying upon the Kissei Patents and the Kissei Know-How supplied by Kissei hereunder, and that Kissei can successfully develop, obtain Regulatory Approvals for, or market the Product in the Kissei Territory. 
  
 10.02 Kissei represents and warrants to MediciNova that as of the Effective
Date: 
  

	 	(i)	Kissei is a corporation duly organized, validly existing and in good standing under the laws of state or jurisdiction in which it is incorporated; 

  

	 	(ii)	 Kissei has full right and authority to enter into this Agreement and to grant the license to MediciNova as herein described; Kissei is the sole owner of the Kissei
Patents, all of which are owned free and clear of any liens, charges, claims or 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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encumbrances, and no other person, corporate or other private entity, or governmental or university entity or subdivision thereof, has any claim of ownership
or rights with respect to the Kissei Patents, whatsoever; Except as set forth on Schedule 10, Kissei is the sole owner of the Kissei Know How, all of which is owned free and clear of any liens, charges, claims or encumbrances, and no other person,
corporate or other private entity, or governmental or university entity or subdivision thereof, has any claim of ownership or rights with respect to the Kissei Know How, whatsoever 

  

	 	(iii)	This Agreement has been duly authorized, executed and delivered by Kissei and constitutes a valid and binding contract of Kissei enforceable against Kissei in accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity; all corporate acts and other proceedings
required to be taken to authorize such execution, delivery, and consummation have been duly and properly taken and obtained; 

  

	 	(iv)	The execution, delivery and performance of this Agreement does not conflict with any other agreement, contract, instrument or understanding, oral or written, to which Kissei is a
party, or by which it is bound, nor will it violate any law or regulation of any legislature, court, governmental body, administrative agency or other authority having jurisdiction over Kissei; no approval, authorization, consent, or other order or
action of or filing with any court, administrative agency or other governmental authority is required for the execution and delivery by Kissei of this Agreement or the consummation by Kissei of the transactions contemplated hereby;

  

	 	(v)	Attached hereto as Exhibit A is a complete and accurate list of all patents and patent applications relating to Compound or Product owned or Controlled by Kissei as of the Effective
Date. To the best knowledge of Kissei, the issued claims included in the Kissei Patents as of the Effective Date are valid and enforceable and do not infringe any Third Party rights; 

  

	 	(vi)	to Kissei’s knowledge, the contemplated development, importation, manufacture, use, offer for sale and sale of Compound or Product would not infringe any patent rights owned or
possessed by any Third Party; 

  

	 	(vii)	Kissei has disclosed to MediciNova the complete texts of all patents or patent applications relating to Compound or Product that are in existence on the Effective Date and that are
owned or Controlled by Kissei as well as all information received by Kissei concerning the institution or possible institution of any interference, opposition, re-examination, reissue, revocation, nullification, or any official proceeding involving
a Kissei Patent, and that it will continue such disclosure with respect to new events during the term of the Agreement; 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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	 	(viii)	 there are no claims, judgments or settlements against or owed by Kissei relating to the Kissei Patents or pending or, to the Kissei knowledge, threatened claims or litigation
against Kissei relating to the Kissei Patents; 

  

	 	(ix)	in connection with development of Compound and Product, Kissei and its employees, agents, clinical institutions and clinical investigators have complied and are complying in all
material respects with applicable laws and regulations; 

  

	 	(x)	Kissei has disclosed to MediciNova any facts known to Kissei as of the Effective Date that Kisssei reasonably believes in good faith to be material regarding: (i) preclinical and
clinical study results and protocols for Compound and/or Product; (ii) any communications to and from any Regulatory Authority with respect to Compound and/or Product, including, but not limited to, Regulatory Filings; and (iii) adverse drug
experiences or other IND safety reports with respect to Compound and/or Product; 

  

	 	(xi)	Kissei has not granted as of the Effective Date, and will not grant during the term of this Agreement, any right to any Affiliate or Third Party relating to the Kissei Patents or
the Kissei Know-How in the Field in the MediciNova Territory which would conflict with the rights granted to MediciNova hereunder; 

  

	 	(xii)	Kissei shall pay any amounts which Kissei shall owe to the Third Parties listed on Schedule 10 under Kissei’s respective agreements with such Third Parties by virtue of this
Agreement, and shall perform in all material respects its obligations under such agreements which are necessary to enable MediciNova to perform its obligations under this Agreement; and 

  

	 	(xiii)	 In the event that Kissei receives notice from any of the Third Parties listed on Schedule 10 that Kissei has committed a breach of its obligations under any of the agreements
with such Third Parties, which breach gives rise to a right by the respective Third Party, respectively, to terminate the respective agreement in a way that would terminate or adversely affect MediciNova’s ability to exercise its rights or
perform its obligations under this Agreement, Kissei shall notify MediciNova of such situation, and Kissei shall use commercially reasonable efforts to cure such breach. However, if Kissei is unable to or does not cure such breach, Kissei shall, to
the extent possible, permit MediciNova at its option to cure such breach, and shall reimburse MediciNova for any amounts paid by MediciNova to do so; 

  

	 	(xiv)	  Kissei represents and warrants that (a) the formulation, manufacture, testing, delivery and storage of Active Pharmaceutical Ingredient to be supplied to
MediciNova under this Agreement shall be in compliance with cGMP and all other applicable laws and regulations; (b) the Active Pharmaceutical Ingredient supplied will not, on the date of shipment, be adulterated or misbranded within the meaning of
the Act and the regulations issued thereunder or within the meaning of any other applicable law, rules or regulations, the provisions of which are in effect at the time 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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of such shipment; and (c) the Active Pharmaceutical Ingredient supplied shall be free of any lien, security, interest or other encumbrance on title and shall
be free of defects in material and workmanship. 

  
 10.03 MediciNova represents and warrants to Kissei that as of the Effective Date: 
  

	 	(i)	MediciNova is a corporation duly organized, validly existing and in good standing under the laws of state of Delaware, United States and it has full right and authority to enter
into this Agreement and to accept the license granted as herein described. 

  

	 	(ii)	This Agreement has been duly authorized, executed and delivered by MediciNova and constitutes a valid and binding contract of MediciNova enforceable against MediciNova in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity; all corporate acts and other
proceedings required to be taken to authorize such execution, delivery, and consummation have been duly and properly taken and obtained; 

  

	 	(iii)	The execution, delivery and performance of this Agreement does not conflict with any other agreement, contract, instrument or understanding, oral or written, to which MediciNova is
a party, or by which it is bound, nor will it violate any law or regulation of any legislature, court, governmental body, administrative agency or other authority having jurisdiction over MediciNova; no approval, authorization, consent, or other
order or action of or filing with any court, administrative agency or other governmental authority is required for the execution and delivery by MediciNova of this Agreement or the consummation by MediciNova of the transactions contemplated hereby;

  

	 	(iv)	It has not knowingly performed any acts that are inconsistent with the terms and purposes of this Agreement or that may infringe upon any of the rights of Kissei hereunder.

  

	 	(v)	It has thoroughly studied all Kissei Know-How provided to MediciNova prior to execution of this Agreement and significant data concerning the Compound and the Product provided by
Kissei to MediciNova prior to execution of this Agreement, including but not limited to their safety and efficacy and risk/benefit, and it has made its own judgment to enter into this Agreement at its own risk. 

  
 10.04 Limitation of Warranty. EXCEPT AS EXPRESSLY STATED IN THIS
AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTY, AND EACH PARTY HEREBY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, WITH 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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RESPECT TO ANY OF THE MATERIALS, INFORMATION, SERVICES OR LICENSES PROVIDED PURSUANT TO THIS AGREEMENT. 
  
 10.05 Performance by Affiliates. The Parties recognize that each Party
may perform some or all of its obligations under this Agreement through Affiliates and Third Party contractors provided, however, that each Party will remain responsible and liable for the performance by its Affiliates and Third Party contractors
and will cause its Affiliates and Third Party contractors to comply with the provisions of this Agreement in connection with such performance. 
  

	11	Intellectual Property 

  
 11.01 Prosecution and Maintenance. Kissei shall have full responsibility, including financial responsibility for prosecution and maintenance for
all Kissei Patents worldwide. Kissei shall inform MediciNova on a country-by-country basis of any significant developments in the prosecution of pending patent applications included in the Kissei Patents, including the issuance of any final office
actions, allowance of claims, or upcoming grant of any domestic or foreign patent based thereon. If Kissei elects not to file, prosecute or maintain or elects to abandon Kissei Patents in any country in the MediciNova Territory, it shall provide
MediciNova with written advance notice sufficient to avoid any loss or forfeiture (and in any event not less than thirty (30) days notice), and MediciNova shall have the right but not the obligation, at its sole expense, to file, prosecute or
maintain such patent or patent application in MediciNova’s name and Kissei shall assign to MediciNova all of Kissei’s right, title and interest in and to such Kissei Patents and, in the event MediciNova exercises such right, such patent or
patent application shall no longer be deemed Kissei Patents. Kissei shall give reasonable assistance to MediciNova to support prosecution and defence of such Patent rights (excluding financial assistance) should MediciNova elect to continue
prosecution. MediciNova shall have the right to control the prosecution, grant and maintenance of any MediciNova Patents in the MediciNova Territory and to select all patent counsel or other professionals to advise, represent or act for it in all
matters relating to such Patents and shall be responsible for the payment of all such patent prosecution and maintenance costs. 
  
 11.02 Cooperation. Each Party shall make available as far as possible to the other Party or to the other Party’s authorized attorneys, agents,
representatives, employees or consultants any documents necessary or appropriate to enable the other Party to file, prosecute and maintain patent applications and resulting patents, as set forth in Section 11.01 above, for a period of time
sufficient for the other Party to obtain the assistance it needs from the first Party. Where appropriate, each Party shall sign or cause to have signed all documents relating to said patent applications or patents at no charge to the other Party.
The responsible Party under Section 11.01 shall solicit the other Party’s review of the nature and text of such patent applications and important prosecution matters related thereto in reasonably sufficient time prior to filing thereof, and the
responsible Party shall take into account the other Party’s reasonable comments related thereto. 
  
 11.03 Updates. To achieve the purpose of making updates and modifications to Exhibit A, Kissei shall send a list of additional patents to be
included in the Kissei Patents to MediciNova from time to time; provided, however, that the failure to update or modify Exhibit A shall not affect the definition of Kissei Patents. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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 11.04 Validity Challenge. In the event that a Third Party attacks the validity of any particular
Kissei Patents in any country of the MediciNova Territory then Kissei shall have the first right to take such legal action, at its discretion, as is required to defend the validity of such particular Kissei Patents and MediciNova shall give all
reasonable assistance (excluding financial assistance) to Kissei. MediciNova may be represented by counsel of its own selection at its own expense in any such legal action but Kissei shall have the right to control the suit and proceeding; provided,
however, that Kissei shall not agree to any settlement of the suit without the prior written consent of MediciNova. If Kissei does not take legal action as is required to defend the validity of such particular Kissei Patents, Kissei shall provide at
least thirty (30) days notice to MediciNova prior to a corresponding deadline, if applicable, and MediciNova may then, at its option, assume control and defence of such action at its expense. In the event that MediciNova assumes control of the
defence, Kissei shall give reasonable assistance (excluding financial assistance) to MediciNova. Kissei may be represented by counsel of its own selection at its own expense in any such legal action, but MediciNova shall have the right to control
the suit and proceeding; provided, however, that MediciNova shall not agree to any settlement of the suit without the prior written consent of Kissei. 
  
 11.05 Patent Term Extensions or Restorations. The Parties shall cooperate in obtaining any extension of the term or restorations of the Kissei
Patents or any other similar period of exclusivity, which may be available under the laws and regulations in any country of the MediciNova Territory. The Parties shall promptly inform each other on registrations obtained in countries eligible for
Patent Term Extension, and provide all assistance to timely fulfil the official requirements for Patent Term Extension. If elections with respect to obtaining such extension or supplemental protection certificates are to be made, MediciNova shall
have the first right to make the election in the MediciNova Territory. 
  

	12	Infringement 

  
 12.01 Infringement Claims against Third Parties. 
  
 (a) Notice. If either Party learns of any misappropriation of Kissei Know-How, or any infringement or threatened infringement by a Third Party of
Kissei Patents, such Party will promptly notify the other Party and will provide such other Party with all available evidence of such misappropriation or infringement. 
  
 (b) Prosecution. 
  

	 	(i)	Kissei shall have the first right to institute, prosecute and control at its own expense, any action or proceeding with respect to infringement in the Field and in the MediciNova
Territory of any Kissei Patents or any misappropriation of a Product right in the Field and in the MediciNova Territory, by counsel of its own choice, and will consult with MediciNova on any actions that MediciNova proposes to take in such action or
proceeding. MediciNova shall cooperate with Kissei in any such action or proceeding brought by Kissei against a Third Party, and will have the right to consult with Kissei and to participate in and be represented by independent counsel of its own
choice in such litigation at its own expense. 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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	 	(ii)	If Kissei does not bring an action or proceeding or otherwise take appropriate action in Kissei’s discretion to abate such infringement or misappropriation in the Field and in
the MediciNova Territory within a period of ninety (90) days of written notice by MediciNova to Kissei requesting such action, MediciNova will have the right, but not the obligation, to bring and control, by counsel of its own choice, any such
infringement or misappropriation action or proceeding relating to such Kissei Patents. Kissei will cooperate with MediciNova in any such action or proceeding brought by MediciNova against a Third Party, and will have the right to consult with
MediciNova and to participate in and be represented by independent counsel of its own choice in such litigation at its own expense. 

  

	 	(iii)	If one Party brings any such action or proceeding under this Section, the other Party agrees, at the request and expense of the first Party, to be joined as a Party plaintiff to the
extent necessary to secure its damages and prosecute the action or proceeding and to give the first Party reasonable assistance and authority to file and prosecute the suit. 

  
 (c) Settlement with a Third Party. The Party that controls the prosecution of a given action under this Section will
also have the right to control settlement of an action described above; provided, however, that no settlement will be entered into with respect to a Patent without the written consent of the Party owning such Patent, which shall not be unreasonably
withheld if such settlement would require the Party to be subject to an injunction or make a monetary payment in excess of 10,000 US Dollars or would restrict the claims in or invalidate any of the Patents. 
  
 (d) Costs and Awards. 
  

	 	(i)	To the extent that Kissei or MediciNova initiates and prosecutes a proceeding under Section 12.01 on its own, without the material assistance of or the participation as a
co-plaintiff in the action by the other Party, then the Party that prosecuted the action shall be entitled to retain for its sole and exclusive benefit any damages or other monetary award recovered therein in its favour. 

  

	 	(ii)	To the extent that both Kissei and MediciNova materially assist or participate in, any such proceeding then: 

  
 first, the costs and expenses of each of Kissei and MediciNova shall be
reimbursed to each Party pro rata, based on the actual amounts spent by such Party, out of any damages or other monetary awards recovered therein in favour of Kissei and/or MediciNova; and second, the amount of any remaining damages or other
monetary awards recovered therein in favour of Kissei and/or MediciNova, shall be divided as follows: (1) first, to MediciNova, as reimbursement for lost sales associated with Products and to Kissei as reimbursement for lost royalties solely to the
extent that the award of compensation is attributable to lost profits associated with Products; and (2) second, any amounts remaining shall be allocated as follows: (a) if Kissei is the Party prosecuting such action, one hundred percent (100%) to
Kissei, (b) if MediciNova is the Party prosecuting such 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 22 

 
action, one hundred percent (100%) to MediciNova subject to the royalty payment to Kissei according to the Section 5.02, and (c) if both Parties are
prosecuting such action, fifty percent (50%) to each Party. 
  
 12.02 Infringement of Third Party Rights. 
  
 (a) Notice. If the development, registration, manufacture, use, marketing or sale of the Product results in a claim against a Party of infringement or misappropriation of any Third Party’s patent or other intellectual property
right (“Third-Party Claim”), the Party first having notice of a Third-Party Claim shall promptly notify the other Party in writing specifying in reasonable detail the alleged grounds or basis for the Third-Party Claim (to the extent
known). 
  
 (b) Patent Infringement Claims. If the
development, registration, manufacture, use, marketing or sale of Product in a country in the MediciNova Territory results in a Third-Party Claim of patent infringement, the Parties agree to respond to and/or defend against the Third-Party Claim as
follows: 
  

	 	(i)	Control of Defence. Kissei shall have the initial right to manage solely the defence of the Parties against the Third-Party Claim. If Kissei elects to exercise such right as
to the Third-Party Claim, MediciNova shall cooperate with Kissei at Kissei’s request and shall have the right to be represented by counsel selected and paid for by MediciNova. If Kissei elects not to exercise such right as to the Third-Party
Claim, MediciNova shall have the right to manage solely the defence of the Parties against the Third-Party Claim and Kissei shall cooperate with MediciNova at MediciNova’s request and shall have the right to be represented by counsel selected
and paid for by Kissei. 

  

	 	(ii)	Settlements. The Party that manages solely the defence of the Parties against the Third-Party Claim shall also have the right to settle such Third-Party Claim on terms deemed
appropriate by such Party, provided, however, that (A) neither Party shall settle any Third-Party Claim in a manner that is prejudicial to the Products, (B) such Party shall consult with the other Party concerning the terms of any settlement
agreement before entering into such an agreement, and (C) neither Party shall settle any such Third-party Claim without the prior written consent of the other Party, which consent shall not be unreasonably withheld. Any Third Party royalty payments
required to be paid as the result of a judgment or settlement under this Section 12.02 shall be subject to the provisions of Section 5.11 above. 

  

	 	(iii)	Costs of Defence. Each Party shall be responsible for its own fees and costs of attorneys and consultants, together with the court costs, incurred in defending against the
Third-Party Claim. 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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	13	Improvements & Grant-back 

  
 13.01 In the event that any Improvements result from the activities solely undertaken by Kissei pursuant to this Agreement, patentable and non-patentable
inventions shall be owned by Kissei and patent applications shall be filed under the name of Kissei and at Kissei’s expense. Any Improvement patents Controlled by Kissei shall be included in the Kissei Patents and subject to the license granted
hereunder at no further cost to MediciNova. 
  
 13.02 Kissei shall
have the royalty-free, non-exclusive right and license to use all of the MediciNova Know-How (including the Improvements based thereon) and any Improvement patents owned or Controlled by MediciNova resulting from the activities undertaken by
MediciNova and its Affiliates pursuant to this Agreement, and to disclose and sublicense the same to Kissei’s Affiliate and licensee, for the sole purpose of manufacture, develop, use or sale of Compound or Product in the Field in the Kissei
Territory. In the event MediciNova grants a sublicense of any of the rights granted to it by Kissei under this agreement, MediciNova will try to obtain from such sublicensee a royalty-free non-exclusive right for Kissei to use any Patents or Know
How Controlled and developed by such sublicensee during the term of such sublicense agreement for the sole purpose of using Product in the Field in the Kissei Territory. 
  
 13.03 Kissei and MediciNova shall jointly own all inventions and patents and patent applications thereon that are conceived
and reduced to practice by one or more employees, agents or consultants of Kissei or its Affiliate, together with one or more employees, agents or consultants of MediciNova or its Affiliate, provided that Kissei’s interest in such jointly owned
inventions, patents and patent applications shall be included in the license granted to MediciNova under this Agreement and provided further that MediciNova’s interest in such jointly owned inventions, patents and patent applications shall be
granted to Kissei in accordance with Sections 13.02. 
  

	14	Confidentiality/Publications 

  
 14.01 Confidentiality. Subject to any other provisions of this Agreement, either Party, for itself and its Affiliate and its sublicensee or
licensee agrees that it shall, during the term of this Agreement and for a period of five (5) years thereafter or ten (10) years from the Effective Date, whichever is longer, hold in confidence the Know-How disclosed by the other Party, which is
defined as “Confidential Information” hereunder, and shall not disclose such Confidential Information to any Third Party nor use such Confidential Information for any commercial purpose other than the purpose of this Agreement, without
first obtaining the written consent of the other Party. Confidential Information means any and all Know-How, except as follows: 
  

	 	(i)	such Know-How is a part of the public domain prior to the disclosure by providing Party to receiving Party hereunder; or 

  

	 	(ii)	such Know-How becomes a part of the public domain after the disclosure by providing Party to receiving Party hereunder without any breach by receiving Party of this Agreement; or

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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	 	(iii)	such Know-How which receiving Party can demonstrate that it had independently developed prior to the disclosure by providing Party to receiving Party hereunder; or

  

	 	(iv)	such Know-How is disclosed to receiving Party by Third Party who has the right to make such disclosure. 

  

	 	(v)	such Know-How is required to be disclosed by law or for the purpose of complying with governmental regulations. 

  
 14.02 Permitted Disclosures. To the extent it is reasonably necessary
or appropriate to fulfill its obligations or exercise its rights under this Agreement, (a) a Party may disclose Confidential Information which is otherwise obligated under this Section 14 not to disclose to its Affiliates, to Kissei licensees, if
the Party is Kissei, to its sublicensees, if the Party is MediciNova, and to its consultants, outside contractors and clinical investigators, on a need-to-know basis on condition that such persons agree to keep the Confidential Information
confidential for the same time periods and to the same extent as such Party is required to keep the Confidential Information confidential; and (b) a Party (including MediciNova’s sublicensees or Kissei licensees) may disclose such Confidential
Information to government or other regulatory authorities to the extent that such disclosure is required by applicable law (including without limitation all applicable securities laws), regulation, agency or court order, or is reasonably necessary
to obtain patents or authorizations to conduct clinical trials with, and to market the Product, provided that the disclosing Party shall provide written notice to the other Party and sufficient opportunity to object to such disclosure or to request
confidential treatment thereof. 
  
 14.03 Publications. If
either Party wishes to publish any information, data or results regarding the Compound or the Product in written, oral or other form, a manuscript of the proposed publication shall first be sent to the other Party at least sixty (60) days in advance
of such publication for review. Unless the reviewing Party informs the other in writing during this sixty (60) day period that the proposed publication must be delayed in order to protect a patentable invention or changed to avoid disclosure of
confidential trade secrets or Know-How, the other Party shall be free to publish such results without restriction. In the event that a delay of the proposed publication be required, the other Party shall withhold such submission for publication for
an additional period, up to ninety (90) days, or such other period as the Parties may mutually agree. 
  

	15	Safety Information 

  
 15.01 Both Parties shall fully comply with all applicable medical event reporting recommendations and requirements in all countries where the Parties
intend to carry out clinical studies and/or to market the Product and agree to exchange such information as may be necessary to achieve that end and to ensure that both Parties are completely informed regarding medical experience with the Product.
This includes single case reports, together with an appropriate medical evaluation, as well as aggregate data, such as PSURs required by the competent authorities. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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 15.02 The Parties agree on the procedures and formalities to be used for the exchange of medical and
adverse events information pertaining to the Product, no later than ninety (90) days after the Effective Date. 
  

	16	Term and Termination 

  
 16.01 This Agreement shall become effective on the Effective Date. Unless sooner terminated by any other provision of this Agreement, the term of the
Agreement shall expire with respect to each Product on a country-by-country basis upon date of expiration of all royalty and or payment obligations stipulated in the Section 5 in the countries in the MediciNova Territory. 
  
 16.02 Notwithstanding the stipulation in Section 16.01 hereof, this Agreement
shall terminate upon the occurrence of any of the following itemized events: 
  

	 	(i)	Either Party notifies the other Party of the fact of default or breach of any material provision in this Agreement by the notified Party, and the notified Party fails to take
corrective measures to mitigate or cure such default or breach within ninety (90) days from the date of notification, provided that notice of termination is given within six (6) months of the default or breach and prior to correction of the default
or breach; or 

  

	 	(ii)	Either Party files in any court or agency pursuant to any statute or regulation pertaining to bankruptcy, solvency, or payment of debts, of any state or country, a petition in
bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of the Party or of its assets, or if the other Party proposes a written agreement of composition or extension of its debts, or if
the other Party shall be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition shall not be dismissed within sixty (60) days after the filing thereof, or if the other Party shall propose or be a Party
to any dissolution or liquidation, or if the other Party shall make an assignment for the benefit of creditors. 

  
 16.03 MediciNova may, at its discretion, terminate this Agreement for scientific or commercial reasons, upon one hundred (100) days’ prior written
notice to Kissei during the development phase and one hundred and eighty (180) days’ prior written notice to Kissei during the commercialization phase. 
  

	17	Effects of Termination 

  
 17.01 Upon expiration of this Agreement pursuant to Section 16.01, MediciNova will continue to have a royalty-free, perpetual right to continue to make,
have made, further develop or have develop, use, sell, offer to sell import and export the Product. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 26 

 17.02 Expiration or termination of this Agreement for any reason shall be without prejudice to:

  

	 	(i)	the obligation of confidentiality provided for in Section 14 hereof; 

  

	 	(ii)	Kissei’s right to receive all payments accrued as of the date of termination under Section 5 hereof; 

  

	 	(iii)	Kissei’s right of inspecting books and account of MediciNova and its Affiliate relative to the calculation of royalty payments for Royalty Periods occurring prior to the date
of termination as per Section 5.10 hereof; 

  

	 	(iv)	the rights and ownership in any intellectual property the respective Party has obtained prior to expiration or termination; 

  

	 	(v)	Kissei’s right provided for in Section 13.02 and 13.03 hereof; 

  

	 	(vi)	MediciNova and its Affiliates and sublicensees shall have the right to sell or otherwise dispose of the stock of any Product subject to this Agreement then on hand or in process of
manufacture, provided that the payment stipulated in Section 5 shall be made to Kissei; and 

  

	 	(vii)	any other rights or remedies which either Party may then or thereafter have hereunder or at law or in equity or otherwise. 

  

	18	Announcement 

  
 No public announcement or other disclosure to Third Parties concerning the existence of or terms or provisions of this Agreement shall be made, either
directly or indirectly, by any Party to this Agreement, except as may be legally required or as may be required for recording purposes, without first obtaining the written approval of the other Party and agreement upon the nature and text of such
announcement or disclosure. The Party desiring to make any such public announcement or other disclosure shall inform the other Party of the proposed announcement or disclosure in reasonably sufficient time prior to public release, and shall provide
the other Party with a written copy thereof, in order to allow such other Party to review, comment upon and approve announcement or disclosure, which such approval shall not be unreasonably withheld or delayed. 
  

	19	Governing Law 

  
 This Agreement shall be governed by and interpreted in accordance with the internal substantive laws of the State of New York, United States, without
giving effect to any choice of law rules, except matters of intellectual property law, which shall be determined in accordance with the national intellectual property laws relevant to the intellectual property in question. 
  

	20	Dispute Resolution 

  
 20.01 Organization Resolution. The Parties will try to settle their differences amicably between themselves. In the event of any controversy or
claim arising out of or relating to any 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 27 

 
provision of this Agreement or the performance or alleged non-performance of a Party of its obligations under this Agreement which is not subject to the
final decision of a Party as specified herein (“Dispute”), a Party may notify the other Party in writing of such Dispute. If the Parties are unable to resolve the Dispute within sixty (60) days of receipt of the written notice by the other
Party, such Dispute will be referred to a Board member of MediciNova and a Board member of Kissei (the “Board Members”), who will use their good faith efforts to resolve the Dispute within thirty (30) days after it was referred to them. If
such Board Members are unable to settle the Dispute between them within thirty (30) days, they shall so report to the Parties in writing. The Dispute shall then be referred to mediation and/or arbitration as set forth in the following Section 20.02.

  
 20.02 Mediation/Arbitration. Upon the
Parties receiving the Board Members’ report that the Dispute referred to them pursuant to Section 20.01 has not been resolved, the Dispute shall be referred to mediation by written notice from either Party to the other. The mediation shall be
conducted pursuant to the LCIA Mediation Procedure. In the event MediciNova is the claimant, the mediation shall be held in Tokyo, Japan; in the event Kissei is the claimant, the mediation shall be held in New York, New York, United States. If the
Parties have not reached a settlement within twenty (20) Business Days of the date of the commencement of mediation, the Dispute shall be referred to arbitration as follows. 
  
 If after the procedures set forth above, the Dispute has not been resolved, a Party shall decide to institute arbitration
proceedings, and it shall give written notice to that effect to the other Party. The Parties shall refrain from instituting the arbitration proceedings for a period of sixty (60) days following such notice. During such period, the Parties shall
continue to make good faith efforts to amicably resolve the Dispute without arbitration. If the Parties have not reached a settlement during that period the arbitration proceedings shall go forward and be governed by the LCIA Arbitration Rules then
in force. Each such arbitration shall be conducted by a panel of three arbitrators with appropriate experience in the biotechnology or pharmaceutical industry: one arbitrator shall be appointed by each of MediciNova and Kissei and the third
arbitrator, who shall be the Chairman of the tribunal, shall be appointed by the two Party-appointed arbitrators. In the event MediciNova is the claimant, the arbitration shall be held in Tokyo, Japan; in the event Kissei is the claimant, the
arbitration shall be held in San Diego, California, United States. Any mediation or arbitration proceeding entered into pursuant to this Section 20.02 shall be conducted in the English language when it is held in the United States or in the Japanese
language when it is held in Japan. 
  
 20.03 Binding
Decision. The decision by the arbitrator will be binding and conclusive upon the Parties, their successors and permitted assigns and the Parties will comply with such decision in good faith. Each Party hereby submits itself to the jurisdiction
of the courts of the place where the arbitration is held, but only for the entry of judgment with respect to the decision of the arbitrators hereunder. Notwithstanding the foregoing, judgment may be entered to recognize the award (but not to revise
or to amend the award) in any court in the country where the arbitration takes place, or any court having jurisdiction over the Parties. The Parties agree that any damages awarded pursuant to any Dispute submitted to arbitration hereunder will be
limited to compensatory damages and that the arbitrators will in no event have authority to award any special, incidental, 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 28 

 
consequential or punitive damages. The arbitrators shall have the authority to grant specific performance. In no event shall a demand for arbitration be made
after the date when institution of a legal or equitable proceeding based on such claim, Dispute or other matter in question would be barred by the applicable statute of limitations. 
  
 20.04 Expenses. The fees and expenses of the arbitrators, the fees and expenses of a court reporter, and any expenses
for a hearing room, will be shared equally by the Parties. The Parties will otherwise bear their respective expenses of the arbitration. 
  

	21	Notices 

  
 21.01 Any notice required to be given under this Agreement shall be given in the English language by sending such notices by postage-prepaid registered
airmail or an internationally recognized overnight courier service addressed to the other Party at the address listed below: 
  

			
	 For Kissei:
	  	Kissei Pharmaceutical Co., Ltd.
	 	  	1-8-9 Nihonbashi, Muromachi
	 	  	Chuo-Ku, Tokyo 103-0022, Japan
	 	  	Attention: Senior Director of Business Development and Licensing
	 	  	Tel: +81 3 3279 2307
	 	  	Fax: +81 3 3279 2541
		
	 For MediciNova:
	  	MediciNova, Inc.
	 	  	4350 La Jolla Village Dr., Ste. 950
	 	  	San Diego, California 92122, USA
	 	  	Attention: Takashi Kiyoizumi, M.D., Ph.D.
	 	  	Tel: +1 858 373 1100
	 	  	Fax: +1 858 373 7000

  
 Either Party may notify the other
Party of a different address to receive the other Party’s notices in accordance with the manner described in this Section 21.01. 
  
 21.02 In the case where any notice is sent by airmail, such notice shall be sent return receipt requested and is deemed to be received by the other Party
upon endorsement, by an employee or agent of the other Party of such receipt. 
  

	22	Force Majeure 

  
 22.01 Neither Party shall be liable for any failure to perform as required by this Agreement by reason of Force Majeure, to the extent such failure to
perform is due to circumstances reasonably beyond the control of such Party, including but not limited to requisition or interference by any government, state or local authorities, war, riots, civil disturbances, strikes or other labor disputes,
accidents, failure to secure required governmental approval, civil disorders or acts of aggression, acts of God, energy or other conservation shortages, diseases, or other such occurrences. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 29 

 22.02 If and when any Party is hindered in its performance of its obligations under this Agreement by
reason of Force Majeure, the performance shall be suspended during, but not longer than, the continuance of such circumstances. 
  
 22.03 Either Party hereto whose performance of obligations has been hindered by reason of Force Majeure shall, to the extent possible, inform the other
Party immediately, and shall use reasonable efforts to overcome the effect of the Force Majeure. 
  

	23	Indemnification 

  
 23.01 Kissei shall defend, indemnify and hold MediciNova and its Affiliates and sublicensees and all the officers, directors, employees, successors and
assigns thereof (the “MediciNova Indemnified Parties”) harmless against all liabilities, damages, losses, costs or expenses (including but not limited to reasonable legal fees and expenses) resulting from any Third Party claim made or suit
brought against any MediciNova Indemnified Party to the extent the same is arising from: 
  
 (a) Kissei’s material breach of any term of this Agreement, 
  
 (b) the negligence, recklessness or willful misconduct or fraud on the part of Kissei or any of its Affiliate or licensees or any of its or their
officers, directors or employees with respect to the Compound or Active Pharmaceutical Ingredient produced or supplied by Kissei or in the performance of this Agreement, 
  
 (c) any product liability claim related to the Compound prior to the Effective Date or during the term of this Agreement for
Compound used in the Kissei Territory, or 
  
 (d) any clinical
studies and marketing activities conducted by or on behalf of Kissei prior to the Effective Date and during the term of this Agreement. 
  
 However, Kissei shall not be required to indemnify MediciNova to the extent that any such claims arose out of or resulted from the negligence, recklessness or willful
misconduct or fraud of MediciNova or any of its Affiliates or sublicensees. 
  
 23.02 MediciNova shall defend, indemnify and hold Kissei and its Affiliates and licensees and all the officers, directors, employees, successors and assigns (the “Kissei Indemnified Parties”) thereof
harmless from and against all liabilities, damages, losses, costs or expenses (including but not limited to reasonable legal fees and expenses) resulting from any Third Party claim made or suit brought against any Kissei Indemnified Party to the
extent the same is arising from: 
  
 (a) MediciNova’s
material breach of any term of this Agreement, 
  
 (b) the
negligence, recklessness or willful misconduct or fraud on the part of MediciNova or any of its Affiliate or sublicensee or any of its or their officers, directors or 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 30 

 
employees with respect to the Product produced by MediciNova or in the performance of this Agreement, 
  
 (c) any product liability claim related to the Product produced,
manufactured, supplied, used, tested, by MediciNova and sold as a Product into the MediciNova Territory at any time after the Effective Date, or 
  
 (d) any clinical studies and marketing activities conducted by or on behalf of MediciNova during the term of this Agreement 
  
 However, MediciNova shall not be required to indemnify Kissei to the extent that any such
claims arose out of or resulted from the negligence, recklessness or wilful misconduct or fraud of Kissei or any of its Affiliates or licensees. 
  
 23.03 Indemnification Procedures. A Party which intends to claim indemnification under Section 23.01 or 23.02 hereof (the “Indemnitee”)
will promptly notify the other Party (the “Indemnitor”) in writing of any claim, lawsuit or other action in respect of which the Indemnitee or any of Indemnified Parties (as the case may be) intend to claim such indemnification within a
reasonable period of time after the assertion of such claim; provided, however, that the failure to provide written notice of such claim within a reasonable period of time will not relieve the Indemnitor of any of its obligations hereunder, except
to the extent that the Indemnitor is prejudiced by such failure to provide prompt notice. The Indemnitor will have the right to assume the complete control of the defence, compromise or settlement of any such claim (provided that no settlement of
any claim will include any admission of wrongdoing on the part of an Indemnitee, without the prior written consent of such Indemnitee, which such consent will not be unreasonably withheld). The Indemnitor may, at its own expense, employ of legal
counsel to defend the claim at issue. The Indemnitee may, in its sole discretion and at its own expense, employ legal counsel to represent it (in addition to the legal counsel employed by the Indemnitor) in any such matter, and in such event legal
counsel selected by the Indemnitor will be required to confer and cooperate with such counsel of the Indemnitee in such defence, compromise or settlement for the purpose of informing and sharing information with the Indemnitee. The Indemnitee will,
at its own expense, make available to Indemnitor those employees, officers and directors or other Indemnified Parties whose assistance, testimony or presence is necessary, useful or appropriate to assist the Indemnitor in evaluating, defending or
settling any such claim; provided, however, that any such access will be conducted in such a manner as not to interfere unreasonably with the operations of the businesses of Indemnitee. 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 31 

	24	Non-assignability 

  
 This Agreement may not be assigned without the prior written consent of the other Party, which consent shall not be unreasonably withheld or delayed;
provided, however, that without such consent either Party may assign this Agreement to an Affiliate, or in connection with the transfer or sale of all or substantially all of its business or assets or in the event of a merger, consolidation, change
in control or similar corporate transaction. Any successor or permitted assignee shall assume all obligations of its assignor under this Agreement. 
  

	25	Language 

  
 25.01 This text of this Agreement in the English language shall be the original text, and any text in another language, even if such a text is made by
translation of the text in English language or prepared by any of the Parties hereto for the purpose of its own convenience, shall have no meaning for any purpose between the Parties hereto. 
  
 25.02 Any information to be provided under this Agreement including but not
limited to any Know-How has to be provided in Japanese or the English language. 
  

	26	Entire Agreement 

  
 This Agreement shall constitute the entire agreement between the Parties hereto concerning the subject matter hereof and shall supersede any other
agreements, whether oral or written, express or implied, and may not be changed or modified or revised except as specifically agreed upon by the Parties in writing. 
  

	27	Separability 

  
 27.01 In the event any portion of this Agreement shall be held illegal, void or ineffective, the remaining portions hereof shall remain in full force and
effect. 
  
 27.02 If any of the terms or provisions of this
Agreement are in conflict with any applicable statute or rule or law, then such terms or provisions shall be deemed inoperative to the extent that they may conflict therewith and shall be deemed to be modified to conform with such statute or rule or
law. 
  

	28	Independent Contractors; No Partnership. 

  
 The Parties hereto are independent contractors. In making and performing this Agreement, the Parties are acting, and intend to be treated, as independent
entities performing a contract, and nothing contained in this Agreement is to be construed or implied or deemed to create an agency, partnership, joint venture or an employee/employer relationship between MediciNova and Kissei. This Agreement is
not, and will not be deemed to be, a partnership agreement or joint venture agreement, expressly or by implication. Employees of each Party remain employees of said Party and will be considered at no time agents of or owing a fiduciary duty to the
other Party. Neither 

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 32 

 
Party hereto will have any implied right or authority to assume or create any obligations on behalf of or in the name of the other Party or to bind the other
Party to any other contract, agreement or undertaking with any Third Party. 
  

	29	Amendment 

  
 The Parties hereto may amend, modify or alter any of the provisions of this Agreement, but such amendment, modification or alteration will be valid and
binding on either Party only if memorized by a written instrument that explicitly refers to this Agreement and is duly executed by both Parties hereto. 
  

	30	Counterparts 

  
 This Agreement may be executed by the Parties in one or more identical counterparts, all of which together will constitute this Agreement. If this
Agreement is executed in counterparts, no signatory hereto will be bound until both Parties have duly executed a counterpart of this Agreement. 
  
 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed in duplicate counterparts by their duly authorized representatives, each
fully executed copy hereof to be deemed as original, as of the date and year first above written. 
  

			
	 	 	Kissei Pharmaceutical Co., Ltd.
		
	By:	 	 /s/ Mutsuo Kanzawa

	 	 	 Mr. Mutsuo Kanzawa
 President and Chief Executive
Officer
 Kissei Pharmaceutical Co., Ltd.

  

			
	 	 	MediciNova, Inc.
		
	By:	 	 /s/ Takashi Kiyoizumi

	 	 	 Dr. Takashi Kiyoizumi
 President and Chief Executive
Officer
 MediciNova, Inc.

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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 Exhibit A

 Kissei Patents 
  

	1.	Substance 

  
 International Application Number: [**] 
 International Publication Number: [**] 
  

					
	 Country Name

	 	 Application No.

	 	 Patent No.

	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	 
	 [**]
	 	[**]	 	[**]
	 [**]
	 	[**]	 	[**]

  

	2.	Use 

  
 International Application Number: [**] 
 International Publication Number: (to be determined)

  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 34 

  
 Schedule 10

 Third Party Rights 
  
 [**], regarding contract API manufacturing 
 [**], regarding co-development of [**] in Japan 
  

	**	CERTAIN INFORMATION (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 35

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