Document:

Exhibit 10.4

 

INHIBIKASE THERAPEUTICS

 

FIRST AMENDMENT TO

COLLABORATIVE RESEARCH AND DEVELOPMENT
AGREEMENT

 

THIS FIRST AMENDMENT
TO THE COLLABORATIVE RESEARCH AND DEVELOPMENT AGREEMENT (“Agreement”) is entered into with an effective date as
of the 5th day of October 2012 (the “Amendment Effective Date”) by and among, on the one hand, Inhibikase
Therapeutics, Inc., a Delaware corporation, with offices located at 3350 Riverwood Parkway, Suite 1927, Atlanta, Georgia (the “Company”)
and, on the other hand, Sphaera Pharma Pte. Ltd., a company incorporated under the laws of Singapore with its registered office
at 8 Temasek Boulevard, #22-03 Suntec Tower 3, Singapore 038988 (“Sphaera Singapore”) and Sphaera Pharma Pvt. Ltd.,
with its registered office at E-375, First Floor, Greater Kailash-II, New Delhi-110048, INDIA (“Sphaera
India”)(together with Sphaera Singapore, hereinafter referred to as “Sphaera Pharma”). (Company and Sphaera Pharma
shall be referred to individually as a “Party” and collectively as the “Parties.”) Except as otherwise
provided in this Agreement, capitalized terms and phrases shall have the meaning ascribed thereto in the Original Agreement (as
defined below)

 

RECITALS

 

	
        Table 1: Imatinib derivatives 

 

 

WHEREAS, Sphaera
Pharma and Company entered into that certain Collaborative Research and Development Agreement as of the 29 day of February 2012
(the “Original Agreement”) to address, among other things, certain issues relating to the Company Compounds (as defined
below);

 

WHEREAS, since
having entered into the Original Agreement, each of Sphaera Pharma and Company agreed to file the Joint Applications (as defined
below) on the Company Compounds and Sphaera Compounds (as defined below);

 

WHEREAS, each
of the Parties desire to enter into this Agreement for the purpose of amending the Original Agreement to address, among other things,
the Parties’ relative rights to the Joint Applications;

 

NOW THEREFORE,
in consideration of the mutual covenants and promises herein, the receipt and sufficiency of which are hereby acknowledged, Sphaera
Pharma and Company agree as follows:

 

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1.       Amendment.
Each of Sphaera Pharma and Company hereby agree that the Original Agreement is and shall be amended by adding at the end of Section
4 the following provisions in sequential order thereto:

 

d.       The
Joint Applications. Sphaera Pharma and Company jointly filed intellectual property under application number 61/709704 in the
United States on 4 October, 2012 and under application number 3105/DEL/2012 in India on 4 October, 2012 (“the Joint Applications”).
The intellectual property covered by the Joint Applications as filed in the United States and India includes a series of novel
compounds. The representative novel compounds covered by the Joint Applications appear in Table 1 thereto (“Table 1”).

 

e.       The
Company Compounds. Under and for purposes of the Original Agreement, specifically compounds 101 thru 113 of the isomer represented
by Formula III described on Table 1 (hereinafter the “Company Compounds”) constitute Project Results and/or Project
Improvements (as such phrases are defined under the Original Agreement) and, as a result thereof, the sole and exclusive property
of Company, with any and all right title and interest in and to the Company Compounds and all methods and compositions relating
specifically to such Company Compounds being both subject to the terms of the Original Agreement and hereby assigned to Company.

 

f.       The
Sphaera Compounds. All other compounds envisioned, implied or subsumed within the Joint Application as isomers represented
by Formula III or Formula IV, including compounds 114 thru 120 described on Table 1, are not subject to the Original Agreement,
but are owned by Sphaera (hereinafter, the “Sphaera Compounds”), with any and all right, title, and interest to the
Sphaera Compounds being held by Sphaera Pharma.

 

g.       Patent
Ownership and Cooperation.

 

i.       The
Mixed Patents. The Parties agree that the Mixed Patents (as defined below), including, without limitation, the Joint Applications,
will be jointly owned by both Parties.

 

ii.       Cooperation.
Sphaera Pharma and Company therefore agree to cooperate in good faith to conduct prosecution of any patent applications claiming
priority to the Joint Applications to obtain patents, to be solely owned by Company, that specifically claim inventions related
to the Company Compounds (as represented by, for example, claim 22 of 61/709704, solely to the extent that A is a moiety selected
from 101-113, and claims 25-27 and 29-36 solely to the extent they depend from claim 22 and where A is a moiety selected from 101-113),
to the extent requested by Company and to the extent reasonably practicable, on a jurisdiction-by-jurisdiction basis, without negatively
impacting Sphaera Pharma’s ability to protect inventions related to the Sphaera Compounds. Ownership of any other patent
applications claiming priority to the Joint Applications shall be determined according to inventorship as determined under U.S.
law. With respect to the Joint Applications and any patents and patent applications arising from or claiming priority to the Joint
Applications and whose claims encompass both Company Compounds and Sphaera Compounds (“Mixed Patents”), the Parties
agree to cooperate in good faith in prosecution, enforcement, and other activities relating to the Mixed Patents and to the commercialization
of Company Compounds and Sphaera Compounds. Sphaera Pharma and Company agree to exchange materials, know-how and to act jointly
to collect data useful to support the specification of the Joint Applications prior to September 15, 2013.

 

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h.       Cross
Licenses.

 

i.       By
Sphaera Pharma. Sphaera Pharma grants to Company an exclusive (even as to Sphaera), worldwide, royalty-free, fully paid-up license
to the Mixed Patents and any and all know how and materials controlled by Sphaera Pharma relating thereto and useful in the practice
thereof to make, Develop, use, sell, offer to sell, and otherwise exploit Company Compounds and related compositions and methods
for the period commencing with the Amendment Effective Date and ending on the later to occur of the expiration of the last valid
claim covering Company Compounds and related compositions and methods or the 15th anniversary of the Amendment Effective
Date; provided, however, that such license is subject to Section 10 of the Original Agreement.

 

ii.       By
Company. Company grants to Sphaera Pharma an exclusive (even as to Company), worldwide, royalty-free, fully paid-up license to
the Mixed Patents and any and all know how and materials controlled by Company relating thereto and useful in the practice thereof
to make, Develop, use, sell, offer to sell, and otherwise exploit Sphaera Compounds and related compositions and methods for the
period commencing with the Amendment Effective Date and ending on the later to occur of the expiration of the last valid claim
covering Company Compounds and related compositions and methods or the 15th anniversary of the Amendment Effective Date
(the “Term”); provided, however, that Sphaera Pharma hereby grants to Company a right of first offer
to license for the Term exclusively under the Mixed Patents and know-how and materials relating thereto and useful in the practice
thereof from Sphaera Pharma the right to make, use, sell, offer to sell, and otherwise exploit any such Sphaera Compound and related
compositions and methods only within the field of infectious disease, the terms of which license both parties agree to use commercially
reasonable efforts to negotiate in good faith and which shall be on customary terms and conditions for licenses of similar intellectual
property. To the extent Company wishes to obtain a license to the Mixed Patents to make, use, sell, or offer to sell any of the
Sphaera Compounds (i.e., compounds 114-120 of Table 1, or any other compound envisioned, implied or subsumed within the
applications 61/709704 in the United States and 3105/DEL/2012 in India filed on 4 October, 2012, other than the Company Compounds),
such a license will require an agreement and acceptance by Sphaera Pharma; for purposes of such license, the financial terms and
conditions thereof shall be negotiated by the parties, with Article 2, entitled “Consideration of Services,” of the
Original Agreement having applicability to only the Company Compounds. For the purpose of clarity, except as otherwise provided
in this Section (e)(ii), Sphaera Pharma may use the Sphaera Compounds outside the scope of the Original Agreement without restriction
and without any further approval or agreement from Company.

 

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i.       No
Overlap in Commercial Pursuits.

 

i.       Section
10(e) of the Original Agreement provides, in pertinent part, “that Sphaera Pharma will have the right to [D]evelop the [Company
Compounds] for use in the treatment of cancer in humans,” but as provided in Section 10(a) may not commercialize any of the
Company Compounds until and unless Company delivers an Abandonment Notice (as defined in the Original Agreement) and otherwise
complies with Section 10 thereof. Subject to the foregoing, Section 10(e) is hereby amended (but is not otherwise modified) to
add as the last sentence thereof the following:

 

“(a) Company shall neither
undertake to Develop nor Develop or, if in the process of Developing, shall cease developing any one of the Company Compound for
which Company is notified in writing by Sphaera Pharma that Sphaera Pharma has filed an IND on such Company Compound for a cancer
indication in humans, and (b) Sphaera Pharma shall neither undertake to Develop nor Develop or, if it in the process of Developing,
shall cease Developing any Company Compound for which Sphaera Pharma is notified in writing that an IND has been filed for such
Company Compound, which limitation shall remain in effect for the period during which such Development remains continuously active.
  As such, each of the Parties agrees to provide to the other written notice of it determining to both (y) choose as a lead
candidate for Development one of the Company Compounds and, as a result thereof, (z) commence IND-enabling studies for the purpose
of filing an IND, which notice shall be delivered to the other Party within ten (10) consecutive calendar days of any such determination.
For purposes of this section, “Development” or “Develop” shall mean those activities relating to non-clinical
and clinical research and drug development, including, without limitation, toxicology, pharmacology and other discovery efforts,
test method development and stability testing, process development, formulation development, delivery system development, quality
assurance and quality control development, statistical analysis, clinical studies or trials (including pre-approval studies and
investigator sponsored clinical studies or trials), regulatory affairs and clinical study or trial regulatory activities (excluding,
however, regulatory activities directed to obtaining pricing and reimbursement approvals and activities constituting manufacturing,
marketing, sales, distribution or other commercialization); and “IND” shall mean an investigational new drug application
filed with the U.S. Food and Drug Administration (“FDA”) or any equivalent filing with any governmental agency having
regulatory authority similar to that of the FDA for a jurisdiction other than the U.S.”

 

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ii.       Unless
and until expansion of the Original Agreement is executed between the parties, Company cannot and will not pursue any development
of the Sphaera Compounds 114-120 of Table 1.

 

2.       Binding
and Enforceable Agreement; Entirety of Agreement. The terms of this Agreement shall be binding upon, and shall inure to
the benefit of each of the Parties hereto and their respective successors, heirs and assigns. This Agreement shall be considered
an integral part of the Original Agreement and shall be binding upon each Party from the date first above written. Subject only
to the modifications referred to in this Agreement, the Original Agreement shall remain in full force and effect and where necessary
shall be read and construed and be enforceable as if the terms of this Agreement were inserted therein.

 

3.       Fulfillment
of Original Agreement.

 

a.       Each
of the Parties hereby acknowledges that the Services as contemplated under the Original Agreement have been completed and as of
the Amendment Effective Date are terminated; except, however, that Company remains obligated to fulfill its financial
obligations agreed to under Section 2 of the Original Agreement. More specifically, as of the date hereof, the Project Fixed Fee
(as defined under the Original Agreement) equals in total the amount of $160,000 for the synthesis and analysis of Company Compounds
remain due and payable by Company. Each Party hereby acknowledges that the Project Variable Fees have been paid in full.

 

b.       Failure
by Company to pay the Project Fixed Fees by the first anniversary of the Amendment Effective Date may constitute grounds for termination
of the Original Agreement in accordance with Article 12 thereof, but shall not otherwise affect the rights of the Parties as described
thereunder or under this Agreement.

 

4.       Counterparts.
This Agreement may be executed in several counterparts, each of which shall be deemed an original, but together they shall constitute
one and the same instrument.

 

[Signatures continued on next page.]

 

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IN WITNESS WHEREOF,
the parties have caused this Agreement to be executed by their duly authorized representatives.

 

	Sphaera Singapore	 	Inhibikase Therapeutics, Inc.
	Sphaera Pharma Pte. Ltd.	 	 
	 	 	 
	/s/ Sundeep Dugar	 	/s/ Milton H. Werner
	Signature	 	Signature
	 	 	 
	Sundeep Dugar, PhD	 	Milton H. Werner, PhD
	Printed Name	 	Printed Name
	 	 	 
	President & CEO	 	President & CEO
	Title	 	Title
	 	 	 
	April 12, 2013	 	04/05/2013
	Date	 	Date
	 	 	 
	Sphaera India	 	Read and acknowledged by 
	Sphaera Pharma Pvt. Ltd.	 	Project Coordinator, Sphaera Pharma:
	 	 	 
	/s/ Abhinav Dhandia	 	/s/ Frank P. Hollinger
	Signature	 	Signature
	Abhinav Dhandia	 	Frank P. Hollinger, PhD
	Printed Name	 	Printed Name
	Assoc. Dir - Corporate	 	 
	Affairs & Business Dev.	 	Vice President
	Title	 	Title
	 	 	 
	April 11, 2013	 	4/6/2013
	Date	 	Date

 

    		Page 6Exhibit
10.5

 

Inhibikase Therapeutics
Collaboration AGREEMENT

With

Parkinson’s
Institute

 

This
Company Sponsored Research Agreement (this “Agreement”), effective as of the date of the latest signature appearing
on the signature page below (“Effective Date”), is by and between Parkinson’s
Institute, with a principal place of business at 675 Almanor Avenue, Sunnyvale CA 94085 (“Institute”), and
Inhibikase Therapeutics, Inc., with
principal offices located at 3350 Riverwood Pkwy SE, Ste 1900, Atlanta, Georgia, 30339 (“Company”), and is subject
to the terms and conditions set forth herein.

 

SECTION
1: STATEMENT OF WORK. The Institute agrees to perform the testing and research, if any, pursuant to and as outlined
in Attachment A (the clinical protocol and the FDA document
and work performed pursuant to these documents, the “Research”) and in compliance with all applicable U.S. federal,
state, and local statutes and regulations. The Institute will provide all reports or items that must be completed and delivered
pursuant to the development and execution of the clinical protocol, if any (such reports and/or items, the “Deliverables”).
The Company will provide know how, regulatory feedback, and pre-clinical efficacy, toxicology and other data necessary to develop
any additional clinical protocols and such regulatory documents for the United States Food and Drug Administration
(“FDA”) as may be required for the application of gastrointestinal (GI) endpoints for approval of Parkinson’s
Disease therapeutics related to the Company’s products.

 

SECTION
2: PAYMENT FOR RESEARCH. The Company will pay the Institute for the Research actually performed for the amount
set forth in and based on the Fee Schedule detailed in Attachment
B. The Company will make payments to the Institute as and when the Scope of Work in Attachment A is performed. All
payments are due within thirty (30) days after Company’s receipt of Institute’s invoice or as otherwise required in
the Fee Schedule described in Attachment B.

 

SECTION
3: PERIOD OF PERFORMANCE. The performance of this Agreement shall begin on the date set forth on Attachment
C and shall not extend beyond the estimated completion date set forth on Attachment
C, unless amended by written agreement of the parties.

 

SECTION
4: TERMINATION. Performance under this Agreement may be terminated by either party effective on the date of
written notice set forth in Attachment C. The Institute
may also terminate performance on thirty (30) days’ written notice if circumstances beyond its reasonable control preclude
resumption or continuation of performance of the Research. Upon termination, Company will reimburse the Institute for all costs
and non-cancelable commitments reasonably and actually incurred by the Institute as and to the extent permitted under this Agreement
in the performance of the Research, prior to and including the effective date of termination; provided,
however, that in no event shall Company be responsible for any amount in excess of the pro-rata amount set forth in
the Attachment B. Any provisions of this Agreement which by their nature extend beyond termination shall survive such termination.

 

SECTION
5: PRINCIPAL INVESTIGATOR. The Research performed by the Institute will be supervised by the principal investigator
whose name is set forth in Attachment C (“Principal
Investigator”). If, for any reason, the Principal Investigator is unable to continue as designated, and a successor acceptable
to both the Institute and the Company is not available or otherwise agreed by the parties within thirty (30) days, this Agreement
will be terminated on five (5) days’ written notice given by one party to the other.

 

     

     

    

  

SECTION 6: CONFIDENTIAL
INFORMATION.

 

		(a)	The free dissemination of information is an essential and long-standing policy of the Institute.
However, the Institute and Company recognize that situations exist in which it is appropriate to maintain the confidentiality of
certain proprietary information.

 

		(b)	“Confidential Information” for purposes of this Agreement shall be defined as (i) information
that one party has clearly marked as confidential and proprietary on the documents or data and provided to the other party in writing,
or (ii) information that one party has orally identified as confidential to the other party and has subsequently identified to
the other party in writing as confidential or proprietary within thirty (30) days of the oral disclosure; provided,
however, that all of Company’s
Property (as defined below), including, without limitation, the Reports (as defined below) and the information contained therein,
shall constitute the Confidential Information of Company; provided,
further, that Institute shall have the right to publish the final results of the Research in accordance with and subject
to Section 8 of this Agreement. Either party may refuse to accept Confidential Information that is not required to fulfill the
obligations of this Agreement.

 

		(c)	Neither party will disclose nor
                                         cause the disclosure of any Confidential Information provided to it by the other party
                                         except to fulfill its obligations to the other party under this Agreement (i.e.,
                                         in the case of the Institute, the performance of the Research) without the other
                                         party’s prior written consent unless the Confidential Information (i) has already
                                         been or is subsequently disclosed publicly by third parties not under a duty of confidentiality
                                         or otherwise in violation of this Agreement, (ii) was previously known or subsequently
                                         discovered independently by the party who is obliged to keep it confidential under this
                                         Agreement without the benefit of access to the Confidential Information, or (iii) is
                                         required to be disclosed by order of a court of law or other governmental authority.
                                         Neither party will use nor cause the use of the property of the other Party, including,
                                         without limitation, its Confidential Information, except for the limited purpose of fulfilling
                                         its obligations to the other party under this Agreement (i.e., in the case of
                                         the Institute, the performance of the Research) without the other party’s prior
                                         written consent.

 

		(d)	Each Party shall limit access to Confidential Information received from the other Party to those
persons having a “need to know” in connection with the Research and shall use reasonable efforts to ensure that any
such person, including, without limitation, the Principal Investigator and each other person working under his supervision, receiving
Confidential Information understands its confidential nature and shall be bound in writing by similar obligations not to make unauthorized
disclosure or use thereof (each an “Institute Representative”).

 

		(e)	Consistent with the foregoing, the Institute and Principal Investigator hereby acknowledge that
certain of Company’s Property and Confidential Information shall be encoded or otherwise “cloaked” to protect
and maintain the confidentiality thereof to Company, and agrees that it shall refrain and shall cause each person acting on its
behalf to refrain from engaging in any act or attempt to act by which, or as a result of which, any such Company’s Property
or Confidential Information would be reverse engineered, decompiled, translated, interpreted, decoded, revealed or otherwise identified.

 

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		(f)	Neither party shall disclose the Confidential Information of the other party until the fifth (5th)
anniversary of the earlier of the ending date for performance of the Research as set forth in Attachment
C or the fifth (5th) anniversary of the termination date; provided,
however, that information that one party can demonstrate to be a trade secret shall be kept confidential for as long
as it retains its trade secret protections.

 

		(g)	Company acknowledges that the Institute is a 501(c)(3) corporation subject to the laws, regulations
and rules of the United States of America and the State of California that could require the disclosure of information relating
to this Agreement (the “Public Records Laws”). Company agrees that the Institute has the right, if and to the extent
(but only to the extent) required by the Public Records Laws, to disclose information (including Confidential Information) provided
to the Institute in connection with this Agreement. In the event that either party is required to disclose the Confidential Information
of the other pursuant to the Public Records Laws, order of a court of law or other governmental authority, the party required to
disclose will use reasonable efforts to give the other party prior written notice of any such required disclosure. The Institute
acknowledges that it is Company’s position that its Confidential Information is protected from disclosure under the Public
Records Laws pursuant to confidential “trade secrets” and public policy exemptions, and the Institute confirms its
intention to take a similar position to the extent counsel for the Institute advises it is possible to do so in good faith, with
respect to such information under the Public Records Laws; provided,
however, that in no event shall
any of Company’s Confidential Information be disclosed by Institute pursuant to Section 6(c)(iii) or this Section pursuant
to the Public Records Laws without Institute first, to the extent not prohibited by law, notifying Company of its intent to do
so as far in advance of disclosure as possible in order to permit Company to pursue such legal remedies as it may have in connection
therewith, including, without limitation, declaratory judgements or protective orders.

 

SECTION 7: TANGIBLE
AND INTELLECTUAL PROPERTY.

 

		(a)	Company Property. Company shall own all right, title and interest in and to the Company Property.
Any and all Company Property, whether or not it constitutes Confidential Information, shall remain the sole property of Company
and will be used by the Institute solely in performing the Research and shall be returned by the Institute to the Company or destroyed
by the Institute, as requested by Company, at the end of the term of this Agreement or upon early termination of this Agreement.
For purposes of this Agreement, “Company Property” means (i) any and all intellectual property and materials, along
with any and all improvements thereto, developed outside the scope of the Research, that are owned or in which rights are held
and which is contributed or otherwise provided by Company, including, without limitation, the Company compounds and know how (as
defined in the Protocol), to Institute for its use in performing the Research; (ii) the Reports; (iii) Company Owned Protocol Inventions
(as defined below); and (iv) Company’s interest in Jointly Owned Protocol Inventions (as defined below). If Company Property
is destroyed or no Company Property or residual Company Property remains at the conclusion of the Research under this Agreement,
upon written request of Company, the Institute will provide Company with a certification of such destruction or that none remain.
The Company Property shall be used with prudence and appropriate caution in any experimental work. THE MATERIALS ARE PROVIDED WITHOUT
WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED.

 

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		(b)	Institute Property. The Institute shall own all right, title and interest in and to inventions,
discoveries, material and improvements, whether or not patentable or copyrightable, that were conceived and/or developed by the
Institute, its employees, faculty, students and/or staff before the Effective Date or that are developed solely by the Institute’s
employees, faculty, students and/or staff independent of it performing the Research (“Institute Property”).

 

		(c)	Protocol Inventions. Title to all Protocol Inventions (as defined below) made solely by Institute
inventors shall reside in Institute (the “Institute Owned Protocol Inventions”); title to all Protocol Inventions made
solely by Company inventors shall reside in Company (the “Company Owned Protocol Inventions”); title to all Protocol
Inventions made jointly by Institute and Company inventors shall reside jointly in Institute and Company (the “Jointly Owned
Protocol Inventions”). Inventorship shall be determined in accordance with United States patent law.

 

		(d)	The Institute shall have a limited license to use the Company Property solely as necessary to perform
the Research, which limited license, notwithstanding any other provision of this Agreement to the contrary, shall end on the date
that this Agreement terminates.

 

		(e)	Institute shall, in confidence, disclose in writing to Company within thirty (30) days of the earlier
to occur of (i) the invention or (ii) submission of any invention disclosure thereon, any and all intellectual property, including,
without limitation any and all improvements thereon, that are conceived or reduced to practice as a result of or from the Research
or use of the Company Property (the “Protocol Inventions”). Company shall notify Institute within thirty (30) days
of receipt of disclosure whether:

 

		(1)	Company desires Institute to file patent applications on any Institute-Owned Protocol Invention
or Jointly-Owned Protocol Invention, in which case Company shall reimburse Institute for all out of pocket patent application filing
costs, including those for patentability opinions requested by Company, reasonably and actually incurred by Institute for such
Protocol Inventions for which Company requested any such filings to be made;

 

		(2)	Company desires to use its own patent counsel to file patent applications on all or any part of
the Institute-Owned Protocol Inventions or Jointly-Owned Protocol Inventions, as applicable, in which case Company shall be directly
responsible for such patent application filing but shall obtain Institute's prior approval of Company’s choice of counsel
and of the patent applications for such Protocol Inventions, which approvals shall not be unreasonably withheld, denied, delayed
or conditioned; or

 

		(3)	Company does not desire that a patent application be filed on any Institute-Owned Protocol Inventions
or Jointly-Owned Protocol Inventions, in which case the Company’s rights in and to such Protocol Inventions shall be disposed
of in accordance with Institute policies with no further obligation to Company, except as may otherwise be mandated by law.

 

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		(g)	Institute hereby grants Company (i) a non-exclusive, worldwide, irrevocable, non-sublicensable
(except to Company’s affiliates) and royalty-free license for internal research purposes to use all of Institute’s
interest in and to the Institute-Owned Protocol Inventions and Jointly-Owned Protocol Inventions, whether or not claimed in a patent
application filed to cover such Protocol Inventions, and (ii) with respect to Institute Owned Protocol Inventions or Jointly Owned
Protocol Inventions for which Company has agreed to file patent applications or to reimburse Institute's costs for filing patent
applications, Institute hereby grants Company an exclusive option to negotiate an exclusive, worldwide, royalty-bearing license,
with rights to sublicense, to practice under such patents and any and all know how and Materials relating thereto to the fullest
extent of Institute’s rights thereunder, and to make, have made, develop, use, lease, offer to sell, sell, import and export
any products, processes and/or services covered thereby. Company shall have three (3) months from the date on which written disclosure
is delivered to it of any Institute Owned Protocol Invention or Jointly Owned Protocol Invention to notify Institute of its desire
to enter into such a license agreement, and the parties shall negotiate in good faith for a period not to exceed one (1) year after
that notification, or such longer period of time as to which the parties may mutually agree.

 

		(h)	The Institute shall provide Company with periodic progress reports on the Research, including without
limitation, the Protocol Inventions, with such frequency as specified in Attachment
A (the “Interim Reports”) and a final written report upon and within forty-five (45) days of completion
of the Research, including, without limitation, any and all Protocol Inventions in existence at the time, or upon any earlier termination
of this Agreement (the “Final Report,” together with the Interim Reports, the “Reports”), in which Final
Report shall be disclosed the final results of the Research, including, without limitation, any and all results of the Research,
including, without limitation, any and all testing performed by the Institute on Company’s Property delivered to the Institute
under this Agreement (i.e., what
was measured or tested and how and in what manner the testing is or was performed), any and all Protocol Inventions and any and
all information relating thereto (collectively, the “Testing Results”). Company may use Reports and the results described
therein for any and all purposes. Each party shall, at mutually agreed upon times, meet with representatives of the other party
to discuss the Research and the Testing Results thereof.

 

SECTION 8: PUBLICATIONS.

 

		(a)	The Institute engages in activities such as the Research that are the subject of this Agreement
as part of its research role and service mission. In furtherance of this mission, the Institute has a strong institutional policy
favoring the retention of publication rights as a means of educational exchange.

 

		(b)	Both parties, including in the case of the Institute, the Principal Investigator, may publish and
present the final results of the Research, including without limitation, at presentations at academic conferences, symposia, and
professional meetings, in publications in scholarly journals, dissertations and theses, and via disclosures in grant applications
(the “Publication Rights”); provided,
however, that in no event shall a party’s Publication Rights include or otherwise extend to the other party’s
Confidential Information, or as to Institute and Principal Investigator, the Company’s Property, which may not be the subject
of any such publication, presentation or other use without the owner’s prior written consent, which consent may be denied
in the owner’s sole and absolute discretion.

 

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		(c)	Each party (the “Publishing Party”) shall, and shall cause its employees and agents
seeking to exercise such Publishing Party’s Publication Rights, to provide a copy of any such proposed presentation or publication
that may relate to the final results of the Research to the other party (in such role, the “Non-Publishing Party”)
at least sixty (60) calendar days prior to its submission, or in the case of abstracts, at least thirty (30) days prior to its
submission (each being a “Publication”).

 

		(d)	The Non-Publishing Party shall have sixty (60) calendar days after receipt of the proposed
                                                                 presentation or publication or, in the case of an abstract, thirty (30) days (“Review Period”), to review any
                                                                 such proposed Publication for the presence of (i) the Non-Publishing Party’s Confidential Information, (ii) when
                                                                 Institute is the Publishing Party, Company’s Property, and (iii) patentable information (e.g.,
                                                                 Protocol Inventions). The Non-Publishing Party shall notify the Publishing Party in writing within the applicable Review
                                                                 Period if the proposed Publication contains Confidential Information to be removed or patentable information that
                                                                 Non-Publishing Party wishes to protect in accordance with Section 7 of this Agreement.

 

		(e)	If Non-Publishing Party so notifies the Publishing Party within the applicable Review Period that
any such Publication contains, in the case of the Institute being the Publishing Party, Company Property or the Non-Publishing
Party’s Confidential Information, the Publishing Party shall remove all of such Company Property and/or Confidential Information
prior to releasing the Publication to any third party; provided,
however, that the Publishing Party may publish information that does not otherwise constitute the Non-Publishing Party’s
Confidential Information as and to the extent one of the conditions of Section 6(c)(i)-(iii) is met with respect thereto. In the
event that Non-Publishing Party advises the Publishing Party of the presence of patentable information, the Publishing Party agrees
to refrain from submitting such proposed Publication for an additional period to be agreed between the parties, up to a maximum
of sixty (60) calendar days from the date the Publishing Party receives Non-Publishing Party’s written notification, in which
case the procedures set forth in Section 7 above shall apply. Notwithstanding any provision in this Section 8 to the contrary,
this Section 8 shall in no event grant or otherwise constitute a license or other permission by the Non-Publishing Party to or
in favor of the Publishing Party to disclose or otherwise use, whether in a Publication or otherwise, the Non-Publishing Party’s
property unless such license or permission is granted in advance and in writing by the Non-Publishing Party.

 

		(f)	The Institute also agrees to provide, in accordance with good academic standards and practices,
an acknowledgment of Company’s support in any such publication, presentation or abstract.

 

SECTION
9: REGULATORY APPROVALS. By entering into this Agreement, the Institute represents that any Research involving
animals have received appropriate review by The Institutional Animal Care & Use Committee (IACUC) #A-4068-01, prior to testing.
The Company’s Property will be used in compliance with all applicable statutes and regulations, including the National Institutes
of Health guidelines on the use of animals and recombinant DNA. The Company’s Property may not be used for in vivo testing
in human subjects. Materials derived from human donors may not be transferred with any individual donor-identifying information.

 

SECTION
10: CERTIFICATIONS. The Institute and Company each certifies and agrees that (1)it is duly organized, validly
existing and in good standing under the laws of the state of its incorporation or organization; (2) it is duly authorized and
in good standing to conduct business in the State of Maryland; (3) it has all necessary power and has received all necessary approvals
to execute and deliver this Agreement, and (4) the individual executing this Agreement on its behalf has been duly authorized
to act for and bind such party.

 

    	 	Page 6	 

     

    

 

SECTION
11: LIABILITY. The Institute and Company shall each be responsible for any and all liability resulting from
its acts and/or omissions and the acts and/or omissions of its employees, officers, directors, agents and contractors, if any.
Neither party shall be liable for any liability resulting from the acts and/or omissions of the other party and the other party’s
employees, officers, directors, agents and contractors. The Institute is not authorized to and does not indemnify, hold harmless,
and cannot defend Company or any third party for any liability that may result from activities under this Agreement.

 

SECTION
12: LIMITATIONS. Company is aware that there are constitutional and statutory limitations on the authority of
the Institute to enter into certain terms and conditions by agreement, including, but not limited to, those terms and conditions
relating to liens on the Institute’s property; disclaimers and limitations of liability for damages; waivers, disclaimers
and limitations of legal rights, remedies, requirements and processes; limitations of periods to bring legal action; granting
control of litigation or settlement to another party; liability for acts or omissions of third parties; payment of attorneys’
fees; dispute resolution; and indemnities (collectively, the “limitations”), and terms and conditions related to the
limitations will not be binding on the Institute except to the extent authorized by the laws and constitution of the State of
Maryland.

 

SECTION
13: NO BENEFIT CERTIFICATION. By accepting this Agreement, Company certifies that no Institute agent, employee
or official, and no family members of any Institute agent, employee or official, will receive a personal benefit from the Institute’s
provision of Research to Company, except as has been previously disclosed, in writing, to the Institute.

 

SECTION
15: EXCLUSION CERTIFICATION. The Institute and Company each certifies that it and its directors, officers, employees,
or agents providing information or services under this Agreement (if any): (a) are not “sanctioned persons” under
any federal or state program or law; (b) have not been listed in the current Cumulative Sanction List of the Office of Inspector
General for the United States Department of Health and Human Services for currently sanctioned or excluded individuals or entities;
(c) have not been listed on the General Services Administration’s List of Parties Excluded individuals or entities; and
(d) have not been listed on the General Services Administration’s List of Parties Excluded from Federal Programs. In the
event that a party becomes aware that it is no longer able to make these representations, this party shall immediately notify
the other party and the other party may upon five (5) business days’ written notice terminate this Agreement.

 

SECTION
16: USE OF NAMES. Neither party will use the name, logo or trademarks of the other or the name of any of the
other’s employees or agents in any form of publicity without the written permission of the other, signed by an officer with
authority to sign on behalf of the entity whose name (or employee’s name) will be used.

 

SECTION
17: FORCE MAJEURE. Neither party will be liable or responsible to the other party nor be deemed to have materially
breached this Agreement for failure or delay in fulfilling or performing
the Research or any other obligation hereunder when such failure or delay is caused by or results from causes beyond the reasonable
control of the affected party, including, without limitation, fire, floods, tornadoes, hurricanes, natural disasters, embargoes,
acts of terrorism, strikes, civil commotions, other acts of God or acts, omissions or delays in acting by any governmental authority;
provided, however,
that any such delay or other postponement of the Research and the services rendered or to be rendered thereunder pursuant
to this Section by the Institute shall also excuse the obligation on the part of Company to pay or continue to pay for such services
unless and until such time as such services resume. Dates by which performance obligations are scheduled to be met will be extended
for a period of time equal to the time lost due to any delay so caused.

 

    	 	Page 7	 

     

    

 

SECTION
18: RESOLUTION OF DISPUTES. The parties agree that any and all claims, controversies or disputes between the
parties which arise out of or relate in any way to this Agreement or a breach hereof and which the parties are unable to resolve
informally shall be submitted to non-binding mediation. By entering into this Agreement, the Institute is not waiving any immunities
to which it is entitled and reserves the right to assert the same as a defense to any legal action.

 

SECTION
19: ASSIGNMENT. The rights granted to each party by this Agreement shall not be assignable or otherwise transferable
by that party without the other party’s prior written consent, which shall not be unreasonably withheld, conditioned or
delayed. Such assignment shall not relieve the assigning party of its obligations hereunder, and the other party may ask for reasonable
assurances to such effect. Any such assignee of the assigning party shall be bound by the terms stated herein, as if the assignee
were the original party to this Agreement.

 

SECTION
20: INDEPENDENT CONTRACTOR. The relationship of the parties shall be that of independent contractors. Neither
party is authorized to act as the agent of the other, nor shall either party be bound by the acts of the other.

 

SECTION
21: NOTICES. Any notices required or permitted by this Agreement shall be in writing and shall be delivered
by hand, by overnight courier, or by United States mail, postage prepaid to the location which is listed on the signature page
underneath the signature of the applicable party.

 

SECTION
22: GOVERNING LAW. The parties agree to remain silent.

 

SECTION
23: SEVERABILITY. In case any provision of this Agreement is determined by a tribunal of competent jurisdiction
to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not be in
any way affected or impaired thereby.

 

SECTION
24: SUCCESSORS AND ASSIGNS. This Agreement may not be assigned by the Institute without the prior written consent
of Company, but may be assigned by Company, including to any company or transferee of all or substantially all of Company's assets
or stock, of which Company agrees to provide written notice to Institute, and Institute may assign its right to receive payments
hereunder. Subject to the foregoing, this Agreement shall be binding on each party’s successors and permitted assigns.

 

SECTION
25: ENTIRE AGREEMENT, MODIFICATIONS, ATTACHMENTS. This Agreement supersedes all prior agreements, written or
oral, between Company and the Institute and will constitute the entire agreement and understanding between the parties with respect
to the subject matter hereof. This Agreement and each of its provisions will be binding upon the parties and may not be waived,
modified, amended or altered except by a written document signed by both parties. Attachments A, B, and C are incorporated into
and made a part of this Agreement by reference.

 

    	 	Page 8	 

     

    

 

SECTION
26: COUNTERPARTS. This Agreement may be executed in counterparts, including by way of pdf or electronic copy,
and by either party on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

(Remainder
of this page intentionally left blank)

 

    	 	Page 9	 

     

    

 

IN
WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by its authorized representatives in its name
and on its behalf.

 

	INSTITUTE:	 	COMPANY:
	 	 	 
	Parkinson’s Institute	 	Inhibikase Therapeutics, Inc.
	 	 	 	 	 
	By:	/s/ Carrolee Barlow	 	By: 	/s/ Milton H. Werner
	 	 	 	 	 
	Name:	Carrolee Barlow, MD, PhD	 	Name: 	Milton H. Werner, PhD
	 	 	 	 	 
	Title: 	Chief Executive Officer	 	Title: 	President & CEO
	 	 	 	 	 
	Date:	10/01/2018	 	Date:	10/01/2018

 

	Address For Notices:	 	Address For Notices and Payments:
	 	 	 
	Finance Department and CEO 	 	3350 Riverwood Parkway, Suite 1900, 
	Parkinson’s Institute 	 	Atlanta, Georgia 30339
	675 Almanor Avenue 	 	 
	Sunnyvale, CA 94085	 	 
	 	 	 
	Address For Payments:	 	 
	 	 	 
	c/o Finance Department
    	 	 
	Parkinson’s Institute	 	 
	675 Almanor Avenue	 	 
	Sunnyvale, CA 94085	 	 

 

	READ AND UNDERSTOOD: 	 
	 	 	 
	PRINCIPAL INVESTIGATOR:	 
	 	 	 
	By: 	/s/ Carrolee Barlow	 
	Date: 	10/01/2018	 

 

    	 	Page 10	 

     

    

 

Attachment
A

 

SCOPE
OF WORK

 

		1.	Clinical Development Collaboration using Novel Measures
of Gut Function in Parkinson’s Patients.

 

The
Institute has conducted research, retrospective analyses and prospective clinical measures in Parkinson’s Disease patients
for unresolved constipation, dysphagia and other gastrointestinal (GI) complications of Parkinson’s Disease (“Institute
Proprietary Clinical Data”). The Company and Institute will jointly develop a clinical development strategy and pursue regulatory
guidance and approval criteria using these Institute data that will focus on high resolution manometry and a wireless measurement
capsule ingested by patients to define novel primary and secondary endpoints for treatment success as estimated by the timeline
below.

 

	Performance Schedule	 	Study Month	 
	Task #	 	 	 	Duration
 (months)
	 	 	1	 	2	 	3	 	4	 	5	 	6	 	7	 	8	 	9	 	10
	 	11
	 	12
	 
	1	 	Review of existing clinical data	 	 	0.25 	 	 	X	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2	 	Development of PIND briefing book for GI endpoints	 	 	0.75 	 	 	X	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3	 	FDA PIND Meeting	 	 	0.25 	 	 	 	 	X	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4	 	IND finalization for GI endpoint focused clinical development path	 	 	4 	 	 	 	 	X	 	X	 	X	 	X	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5	 	Clinical Protocol, ICF and Investigator Brochure for clinical studies following safety evaluation.	 	 	2 	 	 	 	 	 	 	 	 	X	 	X	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	 	Page 11	 

     

    

 

Attachment
B

 

COSTS
AND FEE SCHEDULE; ADDITIONAL CONSIDERATION

 

		1.	Clinical Development Collaboration using Novel Measures
of Gut Function in Parkinson’s Patients

 

Compensation
related to the clinical development program will be comprised of a schedule of benefits based on the achievement of certain milestones
as illustrated below:

 

		a.	Consulting Services:
The Institute will consult with and assist Company clinical staff to develop pre-IND clinical protocol(s) and rationale for the
treatment of specific GI disorders in pre-Parkinson’s (pre-PD) and Parkinson’s (PD) patients at a rate of $400/hr for
Dr. Barlow and $225/hr for non-executive PI staff. This work may include preparation of all regulatory documents and attending
FDA meetings with the total hourly fees in respect of same capped at $35,000. Additional hours and work will be subject to mutual
written agreement between Dr. Barlow on behalf of PI and Dr. Werner on behalf of Company.

 

		b.	Use of Institute
Proprietary Clinical Data: Institute Proprietary Clinical Data will be shared with Company upon execution of this Agreement.
Issuance of Company warrants (“Warrants”) are subject to a successful or satisfactory conclusion of a due diligence
process as carried on by Company in regards to such “Institute Proprietary Clinical Data” within thirty (30) days after
the Effective Date. If Company agrees with Institute that the data properly forms the basis of a regulatory and clinical development
pathway for GI primary endpoints, this data will be used jointly by the parties to develop clinical development plans for treatment
of GI indications with Company’s proprietary compounds and using the Company’s knowledge related to mechanism of drug
action. If Company disagrees with Institute that the Institute Proprietary Clinical Data can form the basis for a new regulatory
and clinical pathway, then Company will provide Institute with a detailed report explaining the rationale and basis for this conclusion.
The Institute will contribute Institute Proprietary Clinical Data and clinical endpoint measurement methods to establish a separate
Investigational New Drug (IND) application for IkT-148009. This separate pathway must be distinct from the primary and secondary
endpoints of the Company for treatment of Parkinson’s Disease in patient brain. Upon satisfaction of the diligence requirements
outlined in this paragraph, Company will grant Warrants for 300,000 Shares of Company Common Stock at a $4.19/share exercise price
with a 7-year exercise window (current value $1,257,000). Such Warrants may be exercised after the post-IPO lock-up period up
to their expiration date. The use by Company of Institute Proprietary Clinical Data will not constitute a transfer of ownership.

 

		c.	Royalty:
In consideration of use of the Institute Proprietary Clinical Data and clinical measurement methods in the development of Company’s
proprietary product (IkT-148009), the Institute will be entitled to receive a royalty of 1% of net sales earned by Company for
the first $500 million in net sales earned by Company for IkT-148009, if the approval of IkT-148009 includes the use of the GI
endpoints for treatment of GI indications to be developed by Institute as provided in the Scope of Work. This royalty reduces to
0.5% of the net sales earned by Company once cumulative net sales of IkT-148009 exceeds $500 million. If IkT-148009 is out-licensed
to a third party in the future, appropriate language
will be written into the third-party license agreement to reflect and protect the interests of the Institute as contemplated in
this Attachment B.

 

    	 	Page 12	 

     

    

 

		d.	Cash Sale or Sublicense by Company of IkT-148009:
In any sublicense arrangement or cash sale of IkT-148009, Institute will participate in the net proceeds received by Company from
such a transaction if, and only if, the Institute Proprietary Clinical Data and GI clinical endpoints developed in the Scope of
Work form the basis of such sublicense arrangement or cash sale. The Institute will participate in the net proceeds of such sublicense
arrangement or cash sale if the foregoing conditions are met according to the following circumstances:

 

(1)  Preclinical

 

Institute
shall be entitled to receive 1% of the net cash consideration if the Company reaches a sublicense agreement or sale agreement to
license or sell all or substantially all development rights to a third-party to IkT-148009 prior to any clinical dosing

 

(2)  Post-phase
1

 

Institute
shall be entitled to receive 5% of the net cash consideration if the Institute Proprietary Clinical Data and methods of analysis
involving unique endpoints along with the Company’s Confidential Information on the pharmacology and safety of IkT-148009
forms the basis of a sublicense or sale agreement with a third party.

 

(3)  During
Phase 2 or Post-Phase 2 proof-of-concept

 

If
during or post-Phase 2 proof of concept, the clinical development path includes Institute Proprietary Clinical Data and proprietary
clinical endpoints and Institute Proprietary Clinical Data as a material basis for a sublicensing or sale transaction, then Institute
shall be entitled to receive 10% of the net cash consideration received by the Company.

 

    	 	Page 13	 

     

    

 

Attachment
C

 

AGREEMENT
DETAILS

 

Beginning
Date of Performance: The date of the latest signature appearing on the signature page of this Agreement

 

Ending
Date of Performance: 365 days after the beginning date of the performance of the Research or delivery of services in accordance
with the clinical protocol / Scope of Work

 

Invoices
will be paid: Net 30 days after the date of receipt by Company

 

Amount
of Notice to be Given for Termination: At least thirty (30) days.

 

The
Research Performed by Institute Will Be Supervised by: Carrolee Barlow, M.D., Ph.D.

 

    	 	Page 14

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