Document:

EX-10.16

 Exhibit 10.16 

FERRING INTERNATIONAL CENTER SA 

and 
 I-MAB 
  
  

LICENSE AND SUBLICENSE AGREEMENT 
  

 

  
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 INDEX 
  

			
	1.	 	DEFINITIONS
		
	2.	 	GRANT OF RIGHTS
		
	3.	 	DEVELOPMENT
		
	4.	 	GOVERNANCE; JOINT STEERING COMMITTEE
		
	5.	 	EXCHANGE OF INFORMATION
		
	6.	 	COMMERCIALISATION
		
	7.	 	PAYMENTS AND FEES
		
	8.	 	INTELLECTUAL PROPERTY
		
	9.	 	TERM AND TERMINATION
		
	10	 	CONSEQUENCE OF TERMINATION
		
	11.	 	ACCRUED RIGHTS; SURVIVING OBLIGATIONS
		
	12.	 	GENERAL PERFORMANCE STANDARDS
		
	13.	 	MANUFACTURE AND SUPPLY
		
	14.	 	WARRANTIES, REPRESENTATIONS, INDEMNIFICATION AND INSURANCE
		
	15.	 	ASSIGNMENT
		
	16.	 	INDEPENDENT CONTRACTORS
		
	17.	 	NOTICES
		
	18.	 	ENTIRE AGREEMENT; WAIVER
		
	19.	 	SEVERABILITY
		
	20.	 	FURTHER ASSURANCE AND REGISTRATION
		
	21.	 	GOVERNING LAW; RELIEF
		
	22.	 	FORCE MAJEURE
		
	23.	 	DISPUTE RESOLUTION
		
	24.	 	EXECUTION IN COUNTERPARTS

  
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 THIS LICENSE AND SUBLICENSE AGREEMENT (this “Agreement”) is effective as of 4th of November 2016 (the “Effective Date”), and is by and between FERRING INTERNATIONAL CENTER SA, a company organised and existing under the laws of Switzerland and having its
principal place of business at Chemin de la Vergognausaz 50 CH-1162 Saint-Prex Switzerland (“Ferring”) and I-MAB, a company organised and existing under
the laws of Cayman Islands and having its principal place of business at Floor 4, Willow House, Cricket Square, P 0 Box 2804, Grand Cayman KY1-1112, Cayman Islands,
(“I-MAB”). Each party individually may be referred to herein as a “Party” and collectively both parties may be referred to herein as the “Parties.” 

PREAMBLE 
 WHEREAS, Ferring has an
exclusive license to certain Sublicensed Intellectual Property (as later defined herein) and has the right to grant sublicenses under the Sublicensed Intellectual Property with respect to the Licensed Compound and the Licensed Product (each as later
defined herein); 
 WHEREAS, Ferring also possesses certain Ferring Intellectual Property and Know-How (as later
defined herein) and has the right to grant licenses to the Ferring Intellectual Property and Know-How with respect to the Licensed Compound and the Licensed Product; and 

WHEREAS, Ferring wishes to grant to I-MAB, and I-MAB wishes to accept, a
license or a sublicense to its interests in the Ferring Intellectual Property and Sublicensed Intellectual Property, respectively, and a license to its Know-How to research, commercially develop, make, have
made, import, use, sell, dispose of, offer to sell or dispose of the Licensed Product through a diligent program of exploiting the Ferring Intellectual Property and Sublicensed Intellectual Property and
Know-How in the Territory and Optional Territory (if applicable) in accordance with the terms and conditions set forth below. 

  
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 NOW THEREFORE, in consideration of the covenants and obligations expressed below, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: 
  

	1.	 DEFINITIONS 

For the purpose of this Agreement, the following words and phrases shall have the following meanings: 

 

	1.1	 “I-MAB Improvements” means any and all changes,
developments, enhancements, modifications, additions, or improvements to the Sublicensed Intellectual Property and/or Licensed Ferring Intellectual Property and Know-How made by or on behalf of I-MAB or its Affiliates or Sub-licensees or Sub-Sublicensees. 

 

	1.2	 “I-MAB IP” means
Know-How and Intellectual Property that is conceived, discovered, developed or otherwise made by or on behalf of I-MAB or its Affiliates or its Sub-licensees or Sub-Sublicensees under, or in connection with, this Agreement or otherwise related to the Licensed Compound or Licensed Product. I-MAB IP shall include I-MAB Improvements. 

  

	1.3	 “Adverse Event” means any untoward medical occurrence in a patient or an investigation subject
who has been administered the Licensed Product and which does not necessarily have to have a causal relationship with the exposure or use of the Licensed Product. For purposes of this Agreement, Adverse Event includes all noxious and unintended
response or symptom to the Licensed Product related to any dose of the Licensed Product, and any adverse reaction, the nature or severity of which is inconsistent with the applicable Licensed Product information. 

 

	1.4	 “Affiliate” means, with respect to a Person, any other Person that, directly or indirectly,
through one or more intermediaries, controls, is controlled by or is under common control with such Person. For purposes of this definition, “control” and, with correlative meanings, the terms “controlled by” and
“under common control with” means: (a) the possession, directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by contract relating to
voting rights or corporate governance, or otherwise; or (b) the ownership, directly or indirectly, of more than 50% of the voting securities or other ownership interest of a business entity (or, with respect to a limited partnership or other
similar entity, its general partner or controlling entity). 

  
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	1.5	 “Applicable Law” means any and all applicable laws, statutes, orders, rules, regulations,
directives and guidelines that have legal effect, whether local, national, international or otherwise, existing from time to time, including any rules, regulations, guidelines or other requirements of the Regulatory Authorities.

  

	1.6	 “Business Day” means a day, other than a Saturday, Sunday, or public holiday on which banking
institutions are not authorized or required to close in China. 

  

	1.7	 “Calendar Quarter” means each successive period of three calendar months commencing on
January 1, April 1, July 1 and October 1. 

  

	1.8	 “Calendar Year” means each successive period of 12 calendar months commencing on
January 1 and ending on December 31. 

  

	1.9	 “CFDA” means the China Food and Drug Administration. 

 

	1.10	 “China” or “PRC” means the People’s Republic of China, which, for purposes of
this Agreement, excludes the Hong Kong Special Administrative Region (“Hong Kong”), the Macau Special Administrative Region, and Taiwan. 

  

	1.11	 “Clinical Data” means all data, reports and results with respect to the Licensed Compound and
the Licensed Product made, collected or otherwise generated under, or in connection with, the Clinical Studies. 

  

	1.12	 “Clinical Studies” or “Clinical Study” means human clinical trials for the
Licensed Product and any other tests and studies for the Licensed Product in human subjects. 

  
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	1.13	 “Commercialization” means, with respect to the Licensed Product, any and all activities
(whether before or after Regulatory Approval) directed to the marketing, promotion, distribution and sale of the Licensed Product in the Field in the Territory or the Optional Territory (if applicable) after Regulatory Approval for commercial sale
has been obtained, including pre-launch and post-launch marketing, promoting, distributing, offering to commercially sell and commercially selling the Licensed Product, importing, exporting or transporting the
Licensed Product for commercial sale, conducting Clinical Studies that are not required to obtain or maintain Regulatory Approval for the Licensed Product for an indication, which may include epidemiological studies, modeling and pharmacoeconomic
studies, post-marketing surveillance studies, investigator sponsored studies and health economics studies and regulatory affairs (including interacting with Regulatory Authorities) with respect to the foregoing. When used as a verb,
“Commercializing” means to engage in Commercialization and “Commercialize” and “Commercialized” shall have corresponding meanings. 

 

	1.14	 “Development” means, with respect to the Licensed Product and Licensed Compound, all
activities related to research, preclinical and other non-clinical testing, test method development and stability testing, toxicology, formulation, Manufacture Process Development, Clinical Studies, including
Manufacturing in support thereof (but excluding any commercial Manufacturing), statistical analysis and report writing, the preparation and submission of Drug Approval Applications, regulatory affairs with respect to the foregoing and all other
activities necessary or reasonably useful or otherwise requested or required by a Regulatory Authority as a condition or in support of obtaining or maintaining a Regulatory Approval for such Licensed Product. When used as a verb,
“Develop” means to engage in Development. 

  

	1.15	 “Development Plan” means the plan for the Development of the Licensed Product as described in
Section 3.2, as updated from time to time pursuant to Section 3.2. 

  

	1.16	 “Dollars” or “$” means the United States Dollars. 

 

	1.17	 “Drug Approval Application” means: (i) the clinical trial application for new drugs (MA
aWt4.54 EP ii); (ii) the application for new drug certificate (Mg-iE T3FIEI ilA); and (iii) the drug approval number application (A A ft s
5C-Ir EPA), collectively, each as set forth in the PRC Pharmaceutical Administration Law, as may be amended from time to time (including all additions, supplements, extensions and modifications
thereto), or any corresponding foreign application in the Territory or the Optional Territory (if applicable). 

  
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	1.18	 “Effective Date” means the date as of which this Agreement is effective which shall be the
date first written above. 

  

	1.19	 “Exploit” means, with respect to the Licensed Compound and/or the Licensed Product, to make,
have made, import, use, sell or offer for sale, including to research, Develop, Commercialize, register, Manufacture, have Manufactured, hold or keep (whether for disposal or otherwise), have used, export within the Territory or Optional Territory
(if applicable), transport, distribute, promote, market or have sold or otherwise dispose of the Licensed Product and “Exploitation” means the act of Exploiting the Licensed Product. 

 

	1.20	 “Ferring Improvements” means any and all changes, developments, enhancements, modifications,
additions, or improvements to the Sublicensed Intellectual Property and/or the Licensed Ferring Intellectual Property and Know-How made by or on behalf of Ferring or its Affiliates. 

 

	1.21	 “Ferring Intellectual Property” means the patent applications (until such time as such
applications or any of them are denied, abandoned or issued into patents) listed in Schedule B1 hereof and future patents and patent applications covering the Licensed Compound or Licensed Product, along with any future patents and patent
applications including continuations, divisionals and reissues as part of patents and extensions thereof including supplementary protection certificates and their equivalent. Ferring Intellectual Property includes FerringImprovements. Schedule B1
shall be updated from time-to-time to reflect any new Ferring Intellectual Property, including Ferring Improvements. 

 

	1.22	 “Field” means any indication for medicinal use in humans, including rheumatoid arthritis.

  

	1.23	 “First Commercial Sale” means, with respect to the Licensed Product, the first sale by I-MAB, its Affiliates, Sublicensees or Sub-sublicensees, as applicable, to a Third Party of the Licensed Product in a country in the Territory or Optional Territory (if
applicable) after all required marketing and pricing or reimbursement approvals have been granted by the applicable Regulatory Authority for such country. 

  
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	1.24	 “Force Majeure” means any significant unexpected event that is beyond the reasonable control
of a Party for which such Party cannot reasonably have been expected to have taken account as of the Effective Date, which significantly delays the Development Program set out in Appendix B and including, but without prejudice to the
foregoing generality, events resulting from an act of God, lightning, fire, flood, earthquake, accumulation of snow or ice, lack of water arising from weather or environmental problems, strike, lock-out or
other industrial disturbance, act of the public enemy, war declared or undeclared; threat of war; terrorist act; blockade, revolution, riot, insurrection, civil commotion, public demonstration, sabotage, act of vandalism, prevention from or
hindrance in obtaining any raw materials, energy or other supplies, explosion, fault or failure of plant or machinery (which could not have been prevented by good industry practice); government restraint, act of legislature or a directive or
requirement of the competent authority affecting a Party or its subcontractor providing that such Party or its subcontractor’s lack of funds shall not be interpreted as a cause beyond such Party’s reasonable control. 

 

	1.25	 “IND” means an Investigational New Drug Application submitted under the United States Federal
Food, Drug, and Cosmetic Act, as amended, and the rules and regulations promulgated thereunder (the “FD&C Act”), or an analogous application or submission with any analogous agency or Regulatory Authority outside of the United
States for the purposes of obtaining permission to conduct clinical trials. 

  

	1.26	 “Information” means any and all 

 

	(a)	 information relating to the business affairs, finances or commercial interests of a Party which is disclosed
pursuant to this Agreement in whatever form; 

  

	(b)	 Know-How; 

 

	(c)	 samples of Materials provided for testing; 

 

	(d)	 results of any tests performed with samples of Materials; 

 

	(e)	 such other written information whether provided in printed, hand-written, electronic or any other form, either
Party deems confidential that is provided to the other Party in writing pursuant to this Agreement. 

  
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	1.27	 “Intellectual Property” means, collectively, all intellectual property rights (whether or not
patented or patentable) related to the purpose of this Agreement including, but not limited to, algorithms, approvals, certifications, chemical compounds, conceptual expressions, copyrights, trademarks, data, designs, formulae, inventions, patents,
patent rights, and prototypes. 

  

	1.28	 “Know-How” means technical and other information of
either Party that is not in the public domain, including information comprising or relating to concepts, discoveries, data, designs, formulae, ideas, information relating to Materials, inventions, methods, models, assays, research and/or development
plans, procedures, designs for experiments and tests and results of experimentation and tests (including results of research or development), processes (including manufacturing processes, specifications and techniques), laboratory records, chemical,
pharmacological, toxicological, clinical, analytical and quality control data, trial data, case report forms, data analyses, reports or summaries. 

  

	1.29	 “Korea” means the Republic of Korea. 

 

	1.30	 “Licensed Compound” means FE301, i.e., SGP130Fc fusion protein, an interleukin-6 inhibitor. 

  

	1.31	 “Licensed Know-How” means the Know-How contained or disclosed in the documents set forth on Schedule A, but excluding any Know-How to the extent claimed or covered by published patents or patent
applications of the Ferring Intellectual Property and Sublicensed Intellectual Property. 

  

	1.32	 “Licensed Product” means all pharmaceutical formulations in finished packaged form containing
the Licensed Compound covered by any patent or patent application as set out in Schedule B hereto and/or uses any other Ferring Intellectual Property or Sublicensed Intellectual Property or Know-How,
for use in the Field. 

  

	1.33	 “Manufacture” and “Manufacturing” mean, with respect to the Licensed Compound
and Licensed Product, all activities related to the production, manufacture, processing, filling, finishing, packaging, labeling, shipping, holding, Manufacture Process Development, stability testing, quality assurance or quality control of the
Licensed Product or any intermediate thereof. 

  
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	1.34	 “Manufacturing Process” means the process used to manufacture the Licensed Compound and the
Licensed Product, including but not limited to the cell line that stably expresses the Licensed Compound, the process to grow the cell line in large scale incubators, the large-scale process to purify the Licensed Compound, and other activities
provided in 1.32. 

  

	1.35	 “Manufacture Process Development” means the process development, process qualification and
validation and scale-up of the process to manufacture the Licensed Compound and Licensed Product and analytic development and product characterization with respect thereto. 

 

	1.36	 “NDA” means a New Drug Application (which, for purposes of this Agreement, includes a
Biologics License Application) submitted to the United States Food and Drug Administration or any successor agency thereto (“FDA”) in accordance with the FD&C Act with respect to a pharmaceutical product (including all
additions, supplements, extensions and modifications thereto), or any other analogous application or submission with any Regulatory Authority in the Territory or the Optional Territory (if applicable), including, with respect to China, a Marketing
Authorization Application filed with the CFDA. 

  

	1.37	 “Net Sales” means, for any period, the gross amount invoiced by
I-MAB, its Sublicensees or any of its or their respective Affiliates for the sale of the Licensed Product (the “Invoiced Sales”), less deductions for: (a) normal and customary trade,
quantity and cash discounts and sales returns and allowances, including those granted on account of price adjustments, billing errors, rejected goods, damaged goods and returns, and chargebacks; (b) freight, postage, shipping and insurance
expenses to the extent that such items are included in the gross amount invoiced; (c) sales taxes and other governmental charges (including value added tax) to the extent billed separately on the invoice and actually paid in connection with the
sale but only to the extent actually included in gross sales; and (d) rebates and similar payments made with respect to sales paid for by any Regulatory Authority. Any of the deductions listed above that involves a payment by I-MAB, its Sublicensees or any of its or their respective Affiliates shall be taken as a deduction in the Calendar Quarter in which the payment is accrued by such entity. The methodology for calculating (a) —
(d), on a country-by-country basis, shall conform to International Financial Reporting Standards consistently applied by I-MAB.
For purposes of determining the Net Sales, the Licensed Product shall be deemed to be sold when invoiced and a “sale” shall not include transfers or dispositions of the Licensed Product for
pre-clinical or clinical purposes or as samples, in each case, whether supplied without charge or not. 

  
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 In the case of pharmacy incentive programs, hospital performance incentive programs,
chargebacks, disease management programs, similar programs or discounts on portfolio product offerings for the Licensed Product, all rebates, discounts and other fauns of reimbursements shall be allocated on the basis on which such rebates,
discounts and other forms of reimbursements were actually granted or, if such basis cannot be determined, in accordance with I-MAB’s, its Sublicensees’ or its or their respective Affiliates’
existing allocation method. 
 I-MAB’s or any of its Sublicensees’ or its or their
respective Affiliates’ transfer of the Licensed Product to an Affiliate or Sublicensee shall not result in any Net Sales. In addition, Net Sales shall not include the sales of any Licensed Product to be used in clinical trials, for research or
other non-commercial purposes, or supplied as commercial samples or as charitable or humanitarian donations (whether supplied without charge, at a substantial discount or otherwise). 

 

	1.38	 “Optional Territory” means countries of North America (i.e., Canada, the United States and
Mexico) and the European Union and Japan to be mutually agreed in writing by the Parties within thirty (30) days of receipt of notice from I-MAB that it wishes to exercize its option right to obtain an
exclusive license to the Optional Territory, cf. Clause 2.2 below. For the purposes of this Agreement, the United Kingdom shall be considered a member state of the European Union, even if it exits the European Union during the Term.

  

	1.39	 “Person” means an individual, sole proprietorship, partnership, limited partnership, limited
liability partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization, including a government or political subdivision, department
or agency of a government. 

  
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	1.40	 “Phase IB” means an initial Clinical Study that assesses safety and tolerability, as well as
the pharmacokinetic and pharmacodynamic responses of the Licensed Product at multiple doses in the Asian rheumatoid arthritis patient population, as further described in the Development Plan. 

 

	1.41	 “Phase II Clinical Trial” means that certain Clinical Study, the principal purpose of which is
to determine safety and efficacy of the Licensed Product in the target patient population or a similar clinical study prescribed by the Regulatory Authorities, from time to time, pursuant to Applicable Law or otherwise, including the Phase II
clinical trial referred to in Article 31 of the Provisions for Drug Registration Administration, promulgated by the CFDA and as may be amended from time to time. 

 

	1.42	 “Phase IIA” means that part of the Phase II Clinical Trial designed to assess dosing
requirements and efficacy of the Licensed Product. For the purposes of this Agreement, “completion of Phase IIA” means that stage of the Phase II Clinical Trial when the efficacy of the Licensed Product as specified in the
Development Plan has been observed and properly recorded. 

  

	1.43	 “Reasonable Commercial Efforts” means with respect to the Development and Commercialization of
the Licensed Product, the level of efforts and resources that are consistent to those efforts and resources commonly used by a similarly situated company in the pharmaceutical industry for comparable products with similar commercial and scientific
potential at a similar stage in their lifecycle, taking into consideration their safety, efficacy, their cost to develop, the competitiveness of alternative products in or reasonably anticipated to enter the marketplace, their proprietary position,
the likelihood of regulatory approval with appropriate and adequate labelling, their pricing, reimbursement, cost or productions, sales and marketing, any other reasonable commercial considerations and on a market by market basis.

  

	1.44	 “Recognised Agent” means a Third Party through which
I-MAB regularly distributes and sells its products in the Territory or Optional Territory (as applicable) where I-MAB has no Affiliate and where sales of I-MAB products are a very minor proportion of total worldwide I-MAB sales. 

  
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	1.45	 “Regulatory Approval” means, with respect to the Licensed Product in a country in the
Territory or the Optional Territory (as applicable), any and all approvals, licenses, registrations or authorizations of any Regulatory Authority necessary to commercially market, promote, distribute or sell the Licensed Product in such country,
including, where applicable: (a) pricing or reimbursement approval in such country; (b) pre- and post-approval marketing authorizations (including any prerequisite Manufacturing approval or
authorization related thereto); and (c) labeling approval. 

  

	1.46	 “Regulatory Authority(ies)” means any national, multinational, state, provincial or local
regulatory agency, department, bureau or other governmental entity with authority over the testing, manufacture, use, storage, import, promotion, marketing and sale of a therapeutic product in the Territory and/or Optional Territory (as applicable)
necessary for the commercialization of the Licensed Product. 

  

	1.47	 “Regulatory Documentation” means all: (a) applications (including all INDs and Drug
Approval Applications), registrations, licenses, authorizations and approvals (including all Regulatory Approvals); (b) correspondence and reports submitted to or received from Regulatory Authorities (including minutes and official contact reports
relating to any communications with any Regulatory Authority) and all supporting documents with respect thereto, including all regulatory drug lists, advertising and promotion documents, Adverse Event files and complaint files; and (c) Clinical
Data and any other data contained in any of the foregoing, in each of ((a), (b) and (c)), relating to the Licensed Product. 

  

	1.48	 “RMB” means Renminbi, the official currency of the PRC. 

 

	1.49	 “Royalty Term” means the period beginning on the date of First Commercial Sale in any country
of the Territory and/or Optional Territory (as applicable) and expiring on a country by country basis: (i) fifteen (15) years from the date of launch; or (ii) on expiration of the last to expire patent rights of the Ferring Intellectual
Property or Sublicensed Intellectual Property in the Territory and/or Optional Territory (as applicable) that includes a Valid Claim covering the development, making, using or selling of the Licensed Compound or Licensed Product, whichever is later.

  
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	1.50	 “Sublicensed Intellectual Property” means the patents and patent applications (until such time
as such applications or any of them are denied, abandoned or issued into patents) listed in Schedule B2 hereof and any future patents and patent applications including continuations, divisionals and reissues as part of patents and extensions thereof
including supplementary protection certificates and their equivalent and Know-How under which Ferring is licensed with the right to sublicense. 

 

	1.51	 “Sublicensee” means an Affiliate of I-MAB or a Third
Party that is granted a sublicense to Ferring Intellectual Property and Know-How by I-MAB in accordance with Section 2.3. 

 

	1.52	 “Sub-sublicensee” means an Affiliate of I-MAB or a Third Party that is granted a sub-sublicense to Sublicensed Intellectual Property by I-MAB in accordance with
Section 2.3 

  

	1.53	 “Territory” means China (including Hongkong, Macau), Taiwan and Korea. 

 

	1.54	 “Third Party” means any Person other than a Party to this Agreement and such Party’s
Affiliate. 

  

	1.55	 “Trademark” means any word, name, symbol, color, designation or device or any combination
thereof that functions as a source identifier, including any trademark, trade dress, service mark, trade name, brand name, logo or business symbol, whether or not registered, together with any goodwill associated therewith. 

 

	1.56	 “Valid Claim” means with respect to a particular country in the Territory or the Optional
Territory (as applicable): (a) any claim of an issued and unexpired patent in such country that: (i) has not been held permanently revoked, unenforceable or invalid by a decision of a court or governmental agency of competent jurisdiction that
is unappealable or unappealed within the time allowed for appeal; and (ii) has not been abandoned, disclaimed, denied or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise in such country; or (b) any claim
of a pending patent application that has not been abandoned or finally disallowed without the possibility of appeal or re-filing of the application. 

  
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	2.	 GRANT OF RIGHTS 

 

	2.1	 Territory. Ferring hereby grants to I-MAB: i) an exclusive
(including with regard to Ferring and its Affiliates, but excluding any non-exclusive license granted to Conaris by operation of the Development and License Agreement dated November 11, 2008)) license,
with the right to grant sublicenses to Sublicensees in accordance with Section 2.3 in whole or in part, under Ferring Intellectual Property and Know-How; and ii) an exclusive (including with regard to
Ferring and its Affiliates) sublicense, with the right to grant sub-sublicenses to Sub-sublicensees in accordance with Section 2.3 in whole or in part, under
Sublicensed Intellectual Property, to research, develop, make, have made, import, use, sell and offer to sell the Licensed Compound and the Licensed Product in the Field in the Territory. 

 

	2.2	 Option Right of I-MAB to the Optional Territory (as applicable).
Ferring hereby grants to I-MAB: i) a non-exclusive option right to obtain an exclusive license, with the right to grant sublicenses to Sublicensees in accordance
with Section 2.3 in whole or in part, under Ferring Intellectual Property and Know-How; and ii) a non-exclusive option right to obtain an exclusive sublicense, with
the right to grant sub-sublicenses to Sub-sublicensees in accordance with Section 2.3 in whole or in part, under Sublicensed Intellectual Property, to research,
develop, make, have made, import, use, sell and offer to sell the Licensed Product in the Field in the mutually agreed upon countries in the Optional Territory, and for the avoidance of doubt Ferring shall retain the right to research, develop,
make, have made and use the Licensed Compound and/or Licensed Product in the Optional Territory for the purposes of this Agreement, including the right to grant sub-licenses to a Third Party. Ferring may
actively pursue to grant license and sublicense rights to one or more Third Party to research, develop, make, have made, import, use, sell and offer to sell the Licensed Compound and the Licensed Product in the Field in any country outside the
Territory, provided however that notwithstanding the aforementioned, Ferring shall not be entitled to grant any rights under the Ferring Intellectual Property and Sublicensed Intellectual Property to a Third Party without first providing written
notice of its intentions to do so of 30 (thirty) days to I-MAB, and in such event I-MAB shall be entitled to have a first right of refusal to exercise the option right
and to obtain exclusive license rights to the Optional Territory, subject to payment of the Initial Payment Covering the Optional Territory, cf. Clause 7.1.2 of this Agreement. If I-MAB notifies that it does
not want to obtain an exclusive license to the Optional Territory, such notice to be received by Ferring in writing within 30 (thirty) days after receipt of Ferring’s notice, cf. above, I-MAB foregoes of
the option right and Ferring shall be free to enter into the agreement with any Third Party. 

  
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	2.3	 Sublicenses and Sub-sublicenses.
I-MAB shall have the right to grant sublicenses and/or sub-sublicenses (as applicable) to an Affiliate or a Third Party to research, develop, make, have made,
import, use, sell and offer to sell the Licensed Product in the Field in the Territory and the mutually agreed upon counties in the Optional Territory (as applicable, cf. Clause 2.2 above). Any sublicenses and/or
sub-sublicenses granted by I-MAB shall be subject to the terms and conditions of this Agreement. I-MAB shall inform Ferring in
writing of: i) the name and location of the Sublicensee and/or Sub-sublicensee; ii) the commercial terms in so far as required to provide Ferring with the requisite information for the purposes of section 7.5
below; and iii) the territory and indications included in the sublicense and/or sub-sublicense within thirty (30) days of the grant of the sublicense and/or
sub-sublicense. Ferring shall be entitled to request a copy of the agreements entered into with the respective sublicensees and/or sub-sublicensees.

  

	2.4	 Disclosure and Transfer. Ferring shall share with I-MAB or any
of its designees, as reasonably requested by I-MAB, the Regulatory Documentation in Ferrings’s control with respect to the Licensed Compound and the Licensed Product within sixty (60) days after the
Effective Date. 

  

	2.5	 Licensed Know-How Disclosure and Materials Transfer

 2.5.1 In General. Ferring shall deliver to I-MAB or any of its
designees, as reasonably requested by I-MAB: (a) within thirty (30) days after the Effective Date the Licensed Know-How set forth in Schedule A; and
(b) within thirty (30) days of a request made by I-MAB to Ferring, the agreed portion of the amount of Licensed Compound and the Licensed Product in Ferring’s inventory as described in Schedule
C, and all Manufacturing and batch records associated with the Materials in Ferring’s Control. I-MAB or its designee may inspect the received Materials, and shall notify Ferring in writing within a
reasonable period of time after the receipt thereof in the event it rejects the Materials. Upon and only upon acceptance of the Materials and subject to Section 13.1.2, I-MAB shall pay Ferring the book
value plus the Shipping Cost for the amount of Licensed Compound and / or the Licensed Product received. Notwithstanding anything in this Agreement to the contrary, I-MAB will have the right, effective upon
the Effective Date, to include Licensed Know-How in I-MAB’s Regulatory Documentation for filing or submission to, or correspondence or discussions with, Regulatory
Authorities, and the right to grant a sublicense under the foregoing right to a Sublicensee to include Licensed Know-How in the Sublicensee’s Regulatory Documentation for filing or submission to, or
correspondence or discussions with, Regulatory Authorities. 

  
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 2.5.2 Assistance. During the Term, Ferring shall give
I-MAB and all Sublicensees and Sub-sublicensees reasonable access to Ferring personnel familiar with the Licensed Compound and the Licensed Product, including without
limitation personnel having knowledge, custody or expertise in connection with the Licensed Know-How, Clinical Data, Clinical Studies, formulation development, Regulatory Documentation and Manufacture Process
Development thereof The assistance referred to above will be provided to I-MAB and I-MAB’s designated experts by Ferring from its St. Prex headquarters and/or other
Ferring locations as determined by Ferring. Subject to advance agreement as to estimated amount, expenses incurred by Ferring in the provision of assistance at sites other than those mentioned above will be reimbursed by I-MAB or the I-MAB Sub-licensee, subject to provision of documented evidence. 

2.5.3 Delivery of Manufacturing Process. Within thirty (30) days of receipt of a written notice from I-MAB of its readiness to initiate IND-enabling Clinical Studies, Ferring shall transfer to I-MAB or any of its designees at I-MAB’s cost, as directed by I-MAB, Ferring’s technology under Ferring’s Control for the commercial-scale Manufacturing process, to the extent the same has not
been delivered to I-MAB in its entirety by the time such written notice is received by Ferring. If materials, know-how and Intellectual Property concerning the
Manufacturing Process are owned by and/or under the control of the Third Party, I-MAB shall be responsible itself for obtaining license rights to such materials,
know-how and Intellectual Property from the respective Third Party, and Ferring will use reasonable commercial efforts to assist I-MAB and the Third Party in such
negotiations in order for I-MAB or its designate to receive such materials, know-how and Intellectual Property within China.
I-MAB shall not sublicense such material, know-how and Intellectual Property without the Third Party’s written approval. 

  
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 2.5.4 License to Clinical Data. I-MAB hereby
grants to Ferring a nonexclusive and royalty-free right and license to use all pre-clinical data and Clinical Data generated by I-MAB pursuant to this Agreement through
the Development of the License Compound and Licensed Product for any purpose outside the Territory and the Optional Territory (if applicable). 
  

	3.	 DEVELOPMENT 

  

	3.1	 In General. I-MAB shall use Reasonable Commercial Efforts to
Develop the Licensed Product in the Field in the Territory at its own cost and expense in accordance with the Development Plan and, subject to the exercise of the option right to receive a license in the Optional Territory, cf. Clause 2.2 above, in
the agreed upon countries in the Optional Territory (as applicable), Develop the Licensed Product in the Field in the Optional Territory (as applicable) at its own cost and expense in accordance with a supplemental development plan to be mutually
agreed upon by the Parties upon the completion of Phase IIA in the Territory, which shall be incorporated into and become a part of this Agreement. If, after good faith discussions the parties are not able to agree upon the supplemental development
plan, I-MAB’s position shall prevail. 

  

	3.2	 Development Plan. The initial Development Plan, which covers the period from the Effective Date through
completion of Phase IB, shall be jointly developed and agreed upon by the Parties within 45 days after the Effective Date, which shall then be incorporated into and become a part of this Agreement. Starting from the first quarter of 2017 and for
each Calendar Year or partial Calendar Year (as applicable) thereafter during the Term, I-MAB shall prepare an update to the Development Plan and submit such updated Development Plan to Ferring for its review.
Each update to the Development Plan shall set forth for the applicable Calendar Year or partial Calendar Year the Development objectives, the planned Clinical Studies and other Development activities and the contemplated timelines for the foregoing.
I-MAB shall manage the preparation of each such update so that it is submitted to Ferring for its review at least ninety (90) days prior to the end of the then-current Calendar Year. In addition, I-MAB may propose updates to the Development Plan to Ferring from time to time as appropriate in light of changed circumstances. If Ferring does not approve any element of an update to the Development Plan proposed
by I-MAB, then the Parties shall discuss in good faith Ferring’s concerns with respect thereto. If, after good faith discussions the parties are not able to agree upon the supplemental development plan,
I_MAB’s position shall prevail. 

  
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	3.3	 Diligence. I-MAB shall use Reasonable Commercial Efforts to
Develop, obtain and maintain Regulatory Approvals for, the Licensed Product for use in the Field in the Territory and the Optional Territory (as applicable) in furtherance of the Development of the Licensed Product for the Field in the Territory and
the Optional Territory (as applicable). Ferring shall use Reasonable Commercial Efforts to perform activities assigned to it in the Development Plan and the supplemental development plan(s) (as applicable) in furtherance of the Development Plan of
the Licensed Product in the Field in the Territory and the Optional Territory (as applicable). 

  

	3.4	 Regulatory Matters. I-MAB shall have the right and
responsibility for preparing, obtaining and maintaining Drug Approval Applications and any other Regulatory Approvals, and for conducting communications with the Regulatory Authorities, for the Licensed Product in the Territory and the Optional
Territory (as applicable). All Regulatory Approvals relating to the Licensed Product with respect to the Territory and the Optional Territory (as applicable) shall be owned by, and shall be the sole property and held in the name of, I-MAB or its designated Affiliate. Ferring hereby shares with I-MAB all Regulatory Documentation in its control for the Licensed Compound and/or Licensed Product (including
any existing Regulatory Approvals) owned by Ferring and held in Ferring’s name in the Territory and Optional Territory (as applicable) as of the Effective Date. 

  
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	3.5	 Subcontracting. I-MAB may freely subcontract the exercise of its
rights and the performance of its obligations under this Article 3; provided that I-MAB informs Ferring in writing the name of the third party contractor and provided that
I-MAB remains responsible to Ferring and its Affiliates, officers, servants or agents, for all activities sub-contracted and shall be responsible to, liable to and
indemnify Ferring in the same terms as according to this Agreement for any loss or damage attributable to any negligent act or omission or misconduct on the part such subcontractor, its Affiliates, its officers, servants or agents.

  

	3.6	 In the event that I-MAB elects for any reason not to continue with the
pre- clinical or clinical development of any Licensed Product in any and all indications or in any other way resolves not to make any further attempts aimed at commercializing any Licensed Product in a particular country of the Territory and/or
Optional Territory (as applicable), such election to be notified to Ferring as soon as practicably possible, the licenses and sublicenses in such country granted under this Agreement will be terminated and Ferring will receive from I-MAB an irrevocable, royalty free, unlimited and exclusive license to use in such country all I-MAB IP, Intellectual Property and
Know-How related thereto including but not limited to I-MAB Improvements and any I-MAB
Know-How related to the Licensed Compound and Licensed Product generated subsequent to the Effective Date. In addition, in such event, I-MAB shall provide to Ferring all
I-MAB IP, Intellectual Property, Information and Know-How related thereto including but not limited to I-MAB Improvements and any
Know-How related to the Licensed Product generated subsequent to the Effective Date. 

  

	4.	 GOVERNANCE; JOINT STEERING COMMITTEE 

 

	4.1	 Formation and Role. Within thirty (30) days after the Effective Date, the Parties shall establish a
Joint Steering Committee (the “Joint Steering Committee” or “JSC”) to oversee the Development and Commercialization of the Licensed Product under this Agreement. The JSC shall not have any power to bind either Party or to make
any tactical or day-to-day operational decisions with respect to either Party’s activities under this Agreement. 

  
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	4.2	 Members. Each Party shall initially appoint two (2) representatives to the JSC, each of whom shall
be a senior officer of the applicable Party. The JSC may change its size from time to time by mutual written agreement of its members; however, at all times the JSC shall be comprised of equal members from each Party. Each Party may replace its
representatives at any time upon written notice to the other Party specifying the prior representative(s) and their replacement(s). Either Party may designate substitutes for its representatives if one (1) or more of such Party’s
designated representatives are unable to be present at a meeting. The JSC shall have two (2) co-chairpersons, and Ferring and I-MAB shall each have the right to
appoint one co-chairperson on an annual basis. The role of the co-chairpersons shall be to convene and preside at the meetings of the JSC and to ensure the preparation
of JSC meeting minutes, but the co-chairpersons shall have no additional powers or rights beyond those held by other JSC representatives. 

 

	4.3	 Meetings. The JSC shall meet at least one (1) time per Calendar Quarter during the Term unless the
Parties mutually agree in writing to a different frequency for such meetings. Either Party may also call a special meeting of the JSC (by videoconference or teleconference) by at least ten (10) Business Days prior written notice to the other
Party in the event such Party reasonably believes that a significant matter must be addressed prior to the next regularly scheduled meeting, and such Party shall provide the JSC no later than ten (10) Business Days prior to the special meeting
with materials reasonably adequate to facilitate discussion of the issue. No later than ten (10) Business Days prior to any meeting of the JSC, the co-chairpersons of the JSC shall jointly prepare and
circulate an agenda for such meeting; provided, however, that either Party may propose additional topics to be included on such agenda, either prior to or in the course of such meeting, and such additional topic may be covered with the consent of
the other Party. The JSC may meet in person, by videoconference or by teleconference, provided, however, at least one (1) meeting per Calendar Year shall be in person unless the Parties mutually agree in writing to waive such requirement in
lieu of a videoconference or teleconference. In-person JSC meetings shall be held at locations in China and Europe alternately selected by I-MAB and by Ferring. Each
Party shall bear the expense of its respective JSC members’ participation in the JSC meetings. The JSC co-chairpersons shall jointly send draft meeting minutes to each member of the JSC for review and
approval within ten (10) Business Days after each JSC meeting. Such minutes shall be deemed approved unless one or more members of the JSC objects to the accuracy of such minutes within ten (10) Business Days of receipt.

  
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	5.	 EXCHANGE OF INFORMATION 

 

	5.1	 Promptly after the Effective Date, I-MAB and Ferring shall meet to
discuss the scope and contents of a mutual exchange of Know-How relevant to the Development Plan, and shall, upon reaching agreement, promptly exchange such Know-How.
Thereafter each of the Parties shall periodically meet to discuss the exchange of any further Know-How which may become known to them and I-MAB shall inform Ferring by
written reports on a three times a year basis of its progress in preclinical and clinical development, the development of a commercial manufacturing process for the Licensed Compound and the Licensed Product and the progress of applications to the
Regulatory Authorities for clinical trials and commercial sale. 

  

	5.2	 During the term of this Agreement and for 10 (ten) years thereafter, irrespective of any termination earlier
than the expiration of the term of this Agreement neither Party shall reveal or disclose to any Third Party any Information received from the other Party or otherwise developed by either Party in the performance of activities in furtherance of this
Agreement or the existence of this Agreement and the collaboration between I-MAB and Ferring as set out herein, without first obtaining the written consent of that other Party, except as may be otherwise
provided herein, or: (a) for securing essential or desirable authorizations, privileges or rights from governmental agencies; (b) as required to be disclosed to a government agency; (c) as necessary to file or procure patent
applications relating to the Licensed Product pursuant to Section 8; or (d) to carry out any litigation concerning the Licensed Product. Consent or the reason for refusal shall be provided in a prompt and timely manner. This obligation of
confidentiality shall not apply to Know-How disclosed to Ferring in the case of termination by Ferring pursuant to Sections 9.2 or 9.3 or to such information that is or becomes a matter of public knowledge but
only in relation to such Know-How and Information that is specifically required by Ferring for the sole purpose of being able to commercialize the Licensed Product where Ferring has acquired such rights
pursuant to sections 9.2 or 9.3, or is already in the possession of the receiving Party, or is disclosed to the receiving Party by a Third Party having the right to do so, or is subsequently independently developed by employees or contractors of the
receiving Party or Affiliates thereof who have no knowledge of the confidential information disclosed. The Parties shall take reasonable measures to ensure that no unauthorized use or disclosure is made by others to whom access to such information
is granted. 

  
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	5.3	 Nothing herein shall be construed as preventing either Party from disclosing any Information received
from the other Party to an Affiliate, Sublicensee, Sub-sublicensee, Recognised Agent or subcontractor of the receiving Party, provided that such Affiliate, Sublicensee,
Sub-sublicensee, Recognised Agent or subcontractor has undertaken a similar obligation of confidentiality with respect to the Information. 

 

	5.4	 In the event that a court or other legal or administrative tribunal directly or through an appointed master,
trustee or receiver assumes partial or complete control over the assets of a Party to this Agreement based on the insolvency or bankruptcy of such Party, the bankrupt or insolvent Party shall promptly notify the court or other tribunal:

  

	 	(i)	 that Information received from the other Party under this Agreement remains the property of the other Party;
and 

  

	 	(ii)	 of the confidentiality obligations under this Agreement. 

In addition, the bankrupt or insolvent Party shall, to the extent permitted by law, take all steps necessary or desirable to maintain the
confidentiality of the other Party’s Information and to ensure that the court, other tribunal or appointee maintains such Information in confidence in accordance with the terms of this Agreement. 

  
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	5.5	 No public announcement or other disclosure to Third Parties concerning the structure or terms of this Agreement
or any work being carried out hereunder or the results of such work 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 approval of the other Party and agreement upon the nature and text of such announcement or disclosure, which approval and agreement shall not be unreasonably withheld. 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 to allow such other Party to comment upon such announcements
or disclosure; provided, however, that the contents of any public announcement, press release or similar publicity which has been reviewed and approved can be subsequently re-released by either Party in any
form without a requirement for re-approval provided the re-releasing Party advises the other Party prior to publication of the
re-release and identifies the media in which it is to be published. 

  

	5.6	 Each Party agrees that it shall co-operate fully with the other with
respect to all disclosures regarding this Agreement to, or public disclosures as required by any other governmental or regulatory body, provided that the disclosing Party uses commercially reasonable efforts to seek confidential treatment for any
Information of either Party included in any such disclosure. 

  
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	5.7	 Publications. Each Party recognizes that the publication of papers regarding Information and activities
under this Agreement, including oral presentations and abstracts, may be beneficial to both Parties, provided that such publications are subject to reasonable controls to protect confidential information. Accordingly, each Party shall have the right
to review and approve any paper proposed for publication by the other Party, including any oral presentation or abstract, that contains Clinical Data or pertains to results of Clinical Studies or includes other Information generated under this
Agreement or that otherwise includes confidential information of the other Party. Before any such paper is submitted for publication or an oral presentation is made, the publishing or presenting Party shall deliver a complete copy of the paper or
materials for oral presentation to the other Party at least sixty (60) days prior to submitting the paper to a publisher or making the presentation. The other Party shall review any such paper and give its comments to the publishing or
presenting Party within sixty (60) days after the delivery of such paper to such other Party. With respect to oral presentation materials and abstracts, the other Party shall make reasonable efforts to expedite review of such materials and
abstracts, and shall return such items as soon as reasonably practicable to the publishing or presenting Party with appropriate comments, if any, but in no event later than sixty (60) days after the date of delivery to such other Party. Failure
to respond within such sixty (60) days shall be deemed approval to publish or present. Notwithstanding the foregoing, the publishing or presenting Party shall comply with the other Party’s written request to: (a) delete references to
such other Party’s confidential information in any such paper or presentation; or (b) withhold publication of any such paper or any presentation of same for an additional one hundred twenty (120) days in order to permit the Parties to
obtain patent protection if either Party deems it necessary. Any publication shall include recognition of the contributions of the other Party according to standard practice for assigning scientific credit, either through authorship or
acknowledgement, as may be appropriate. Each Party shall use its respective Reasonable Commercial Efforts to cause investigators and institutions participating in clinical studies for the Licensed Product with which it contracts to agree to terms
substantially similar to those set forth in this Section 5.7, which efforts shall satisfy such Party’s obligations under this Section 5.7 with respect to such investigators and institutions. 

 

	5.8	 Nothing in this Agreement shall be construed as preventing or in any way inhibiting either Party from
complying with statutory and regulatory requirements governing the development, manufacture, use and sale or other distribution of the Licensed Product in any manner that it reasonably deems appropriate including, for example, by disclosing to
Regulatory Authorities Information or other information received from the other Party or Third Parties. 

  
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	6.	 COMMERCIALISATION 

 

	6.1	 General. I-MAB shall use Reasonable Commercial Efforts to obtain
approval of the Regulatory Authorities and to promote, market, distribute and sell the Licensed Product in the Field in all countries of the Territory and/or Optional Territory (as applicable, cf. Clause 2.2 above), in each case at its own cost and
expense. Following receipt by I-MAB or its Affiliate, Sublicensee or Sub-sublicensee of marketing approval for the Licensed Product in a country or region of the
Territory and/or Optional Territory (as applicable), I-MAB shall start, and shall ensure that its Affiliate or its Sublicensee and/or its Sub-sublicensee start the
marketing and sales of the Licensed Product and to use its Reasonable Commercial Efforts to promote, market, distribute and sell the Licensed Product consistent with accepted pharmaceutical business practice and applicable legal requirements.

  

	6.2	 Sales and Distribution. I-MAB shall be responsible for:
(a) invoicing and booking sales; (b) establishing all terms of sale (including pricing and discounts); (c) warehousing and distributing; and (d) handling all returns, recalls and withdrawals, order processing, collection, inventory
and receivables, in each of (a) through (d), with respect to the Licensed Product in the Territory and the Optional Territory (as applicable). 

  

	6.3	 Product Trademarks. I-MAB shall have the right to determine the
Product Trademarks to be used with respect to the Licensed Product in the Field in the Territory and the Optional Territory (as applicable), and shall own all right, title and interest in and to the Product Trademarks. 

 

	6.4	 Markings. To the extent required by Applicable Law in a country in the Territory or the Optional
Territory (if applicable), the promotional materials, packaging and Product Labeling for the Licensed Product used by I-MAB, its Sublicensees, Sub-sublicensees or its or
their respective Affiliates in connection with the Licensed Product in such country shall contain the logo and corporate name of the manufacturer. 

  
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	6.5	 Subcontracting. I-MAB may subcontract the Commercialization of
the Licensed Product in the Field in the Territory and the Optional Territory (if applicable); provided that any agreement pursuant to which I-MAB engages such subcontractor shall be consistent in all material
respects with this Agreement (where applicable) and provided that I-MAB informs Ferring in writing the name of the third party contractor and provided that I-MAB remains
responsible to Ferring and its Affiliates, officers, servants or agents, for all activities sub-contracted and shall be responsible to, liable to and indemnify Ferring in the same terms as according to this
Agreement for any loss or damage attributable to any negligent act or omission or misconduct on the part such subcontractor, its Affiliates, its officers, servants or agents. 

 

	6.6	 Meetings. At the request of Ferring, the Parties shall meet annually to discuss sales of the Licensed
Product in the Territory and/or Optional Territory (as applicable), and I-MAB shall inform Ferring of its marketing strategy for the Licensed Product. 

 

	6.7	 No Launch. In the event I-MAB shall decide not to launch any
Licensed Product in a particular country in the Territory and/or Optional Territory (as applicable), either by itself or through an Affiliate, a Recognised Agent, a Sublicense or a Sub-sublicensee, or Sub-contractor, I-MAB will immediately inform Ferring in writing of the reason for its decision and Ferring shall be entitled to unilaterally delete such country from the
Territory and/or Optional Territory (as applicable) without a notice period. In this case, I-MAB undertakes to transfer free of charge to Ferring any authorization to market a Licensed Product and its Product
Trademarks for such Licensed Product in such country that I-MAB may previously have acquired and to cooperate fully in the transfer of sales of such Licensed Product if any in such country to Ferring or to a
Third Party designated by Ferring and shall supply at cost Licensed Product or have it supplied to Ferring or its designee for such sale. 

  

	7.	 PAYMENTS AND FEES 

 

	7.1	 Initial Payments. 

7.1.1 Initial Payment Covering Territory. The initial non-refundable fee to be paid by I-MAB to Ferring for exclusivity in the Territory shall be Two Million Dollars ($2,000,000), payable within forty five (45) days after the Effective Date. 

  
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 7.1.2 Initial Payment Covering Optional Territory. Within sixty (60) days after
the license grant by Ferring to I-MAB and the determination of the countries in the Optional Territory, cf. Clause 2.2 above, I-MAB shall pay Ferring Three Million
Dollars ($3,000,000) as the initial non-refundable fee. 
  

	7.2	 Milestone Payments. 

7.2.1 Development Milestones in the Territory. I-MAB shall pay Ferring each of the following non-refundable, non-creditable milestone payments within sixty (60) days after the achievement of the corresponding Milestone Event. For clarity, each of the following
milestone payments shall be made only once and upon the first occurrence of the corresponding Milestone Event, regardless of the number of countries in which the Licensed Product achieves the applicable Milestone Event: 

 

			
	 Milestone Event
	 	 Milestone Payment

	 Completion of Phase IB in the

Territory
	 	 One Million Five Hundred Thousand

Dollars ($1,500,000)

	 Completion of Phase IIA study

report in the Territory
	 	Three Million Dollars ($3,000,000)
	 NDA submission in the

Territory
	 	Five Million Dollars ($5,000,000)
	NDA approval in the Territory	 	Five Million Dollars ($5,000,000)

 7.2.2 Development Milestones in the Optional Territory. I-MAB
shall pay Ferring each of the following non-refundable, non-creditable milestone payments within sixty (60) days after the achievement of the corresponding
Milestone Event. For clarity, each of the following milestone payments shall be made only once and upon the first occurrence of the corresponding Milestone Event, regardless of the number of countries in which the Licensed Product achieves the
applicable Milestone Event: 
  

			
	 Milestone Event
	 	 Milestone Payment

	NDA submission in the United States	 	Ten Million Dollars ($10,000,000)
	NDA submission in the European Union	 	Five Million Dollars ($5,000,000)
	NDA approval in the United States	 	Ten Million Dollars ($10,000,000)
	NDA approval in the European Union	 	Five Million Dollars ($5,000,000)

  
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 7.2.3 Determination that Milestone Events Have Occurred. I-MAB shall notify Ferring promptly of the achievement of each Milestone Event. In the event that, notwithstanding the fact that I-MAB has not provided Ferring with such a
notice, Ferring believes that any such Milestone Event has been achieved, it shall so notify I-MAB in writing and the Parties shall promptly meet and discuss in good faith whether such Milestone Event has been
achieved. Any dispute under this Section 7.2.3 regarding whether or not a Milestone Event has been achieved shall be subject to resolution in accordance with Sections 21 and 23. 

 

	7.3	 Royalties. 

7.3.1 Royalty Rates in the Territory. In connection with the grant of the licenses and sublicenses under the Licensed Know-How and Sublicensed Intellectual Property in the Territory pursuant to Section 2.1, during the Royalty Term, I-MAB shall pay Ferring a
non-refundable, non-creditable royalty on Net Sales of the Licensed Product in the Territory in each Calendar Year (or partial Calendar Year), as follows, as calculated
by multiplying the applicable royalty rate in the table below by the corresponding amount of incremental Net Sales of all Licensed Products: 
  

					
	 That portion of Net Sales of the Licensed Product in
the
 Territory in a Calendar Year that is:
	  	Royalty
Rate	 
	 Less than or equal to Five Hundred Million RMB (RMB500,000,000)
	  	 	6	% 
	 Greater than Five Hundred Million RMB (RMB500,000,000)
	  	 	8	% 

  
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 7.3.2 Royalty Rates in the Optional Territory. In connection with the grant of the
licenses and sublicenses under the Licensed Know-How and Sublicensed Intellectual Property in the Optional Territory pursuant to Section 2.2, during the Royalty Term,
I-MAB shall pay Ferring a non-refundable, non-creditable royalty on Net Sales of the Licensed Product in the Optional Territory
in each Calendar Year (or partial Calendar Year), as follows, as calculated by multiplying the applicable royalty rate in the table below by the corresponding amount of incremental Net Sales of all Licensed Products: 

 

					
	 That portion of Net Sales of the Licensed Product in
the
 Optional Territory in a Calendar Year that is:
	  	Royalty
Rate	 
	 Less than or equal to Five Hundred Million Dollars ($500,000,000)
	  	 	8	% 
	 Greater than Five Hundred Million Dollars ($500,000,000)
	  	 	10	% 

 7.3.3 Payment Dates and Reports. Royalty payments shall be made by
I-MAB within sixty (60) days after the end of each Calendar Quarter commencing with the Calendar Quarter in which the first day of the first Royalty Term for the first Licensed Product occurs. I-MAB shall also provide to Ferring, at the same time each such payment is made, a report showing: (a) the Net Sales of the Licensed Product by country in the Territory and the Optional Territory (as
applicable); (b) the basis for any deductions from Invoiced Sales to determine Net Sales; (c) the applicable royalty rates for the Licensed Product; (d) a calculation of the amount of royalty due to Ferring; and (e) the exchange rates
used in calculating any of the foregoing. 
  

	7.4	 Mode of Payment; Currency Conversion; Taxes. 

7.4.1 Mode of Payment. All payments to Ferring under this Agreement shall be made by wire transfer of Dollars in the requisite amount to
such bank account as Ferring may from time to time designate by notice to I-MAB. 
 7.4.2 Currency
Conversion. If any currency conversion shall be required in connection with any payment hereunder, such conversion shall be made by using the arithmetic mean of the exchange rates for the purchase of Dollars as published by the People’s
Bank of China, on the last Business Day of each month in the Calendar Quarter to which such payments relate. 

  
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 7.4.3 Taxes. The milestone and royalty payments and other amounts payable by I-MAB to Ferring pursuant to this Agreement (“Payments”) shall not be reduced on account of any taxes unless required by Applicable Law. Ferring alone shall be responsible for paying any and all
taxes incurred under this Agreement which it should be liable for under the tax law of the relevant jurisdiction. I-MAB shall deduct or withhold from the Payments any taxes that it is required by Applicable
Law to deduct or withhold. For the sake of clarity, any federal, state, county or municipal sales or use tax, excise, customs charges, duties or similar charge, or any other tax assessment (other than that assessed against income), license, fee or
other charge lawfully assessed or charged on the manufacture, sale or transportation of Materials sold pursuant to this Agreement or a separate supply agreement between the Parties, shall be paid by Ferring. If Ferring is entitled under any
applicable tax treaty to a reduction of rate of, or the elimination of, applicable withholding tax, it shall deliver to I-MAB or the appropriate governmental authority (with the assistance of I-MAB to the extent that this is reasonably required and is expressly requested in writing) the prescribed forms necessary to reduce the applicable rate of withholding or to relieve
I-MAB of its obligation to withhold tax, and I-MAB shall apply the reduced rate of withholding, or dispense with withholding, as the case may be; provided that I-MAB has received evidence, in a form reasonably satisfactory to I-MAB, of Ferring’s delivery of all applicable forms (and, if necessary, its receipt of appropriate
governmental authorization) at least fifteen (15) Business Days prior to the time the tax return is due for filing and/or that the Payments are due, whichever is earlier. If, in accordance with the foregoing,
I-MAB withholds any amount in connection with any Payment, it shall pay to Ferring the balance when due, make timely payment to the proper taxing authority of the withheld amount and send to Ferring proof of
such payment within fifteen (15) Business Days following such Payment. 

  
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	7.5	 Sub-License and Sub-Sub-License Income 

 In the event any right granted, license, sub-license or sub-sublicense given to, or agreement entered into by I-MAB with any Third Party (not being an Affiliate or Recognised
Agent of I-MAB) in Sublicensed Intellectual Property or Licensed Ferring Intellectual Property or Know-How and where, but for such right granted, license, sub-license or sub-sublicense given or agreement entered into by I-MAB, Sublicensed Intellectual Property or Licensed Ferring
Intellectual Property or Know-How as granted by Ferring to I-MAB pursuant to this Agreement would be infringed or used by the commercialisation of a Licensed Product by
such Third Party, I-MAB shall be deemed to have sub-licensed and/or sub-sublicensed its rights in the Licensed Product for the
purposes of this Section 7.5 under a Third Party Agreement (“Third Party Agreements”). 
 Third Party Agreements shall also
include any related agreements with a Sub-licensee and/or a Sub-sub licensee such as for example any agreement on an exchange product for the Licensed Product or other non-financial consideration but shall expressly exclude sales to wholesalers under distribution agreements and sales under any other agreements which are covered by Section 7.3 above and where sales of Licensed
Product to an end customer are not booked by I-MAB, its Affiliates, Sublicensees, Sub-sublicensees or Recognized Agents. For the sake of clarity, this exclusion shall
not apply to agreements covering or related to the supply and manufacture of Licensed Compound or Licensed Product where commercialisation of the Licensed Product accruing therefrom is covered under Sublicensed Intellectual Property and/or Licensed
Ferring Intellectual Property and/or Know-How as granted by Ferring to I-MAB pursuant to this Agreement. 

I-MAB shall pay to Ferring a sum equivalent to 10% (ten percent) of the annual total consideration
received by I-MAB under all Third Party Agreements for as long as I-MAB is obliged to make payments to Ferring pursuant to section 7.3 above. 

For the avoidance of doubt, annual total consideration received by I-MAB under Third Party Agreements
shall also include the sales booked by I-MAB in respect of any product in-licensed and commercialized by I-MAB and acquired by I-MAB in consideration of any sub-license and/or sub-sublicense by I-MAB of the Licensed
Product, whereupon the Net Sales of any such product in-licensed and commercialised by I-MAB shall be deemed annual total consideration received by I-MAB under a Third Party Agreement. 

  
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 I-MAB will disclose to Ferring the terms of
all Third Party Agreements within thirty (30) days of their conclusion in so far as the terms are directly applicable to the financial and/or non-financial consideration that I-MAB will receive under such Third Party Agreements. 
 Not later than thirty (30) days from the end
of each calendar year, I-MAB will: (i) confirm to Ferring by itemised accounts the annual total consideration received in the previous calendar year by I-MAB under
such Third Party Agreements; and (ii) make a payment to Ferring of 10% (ten percent) of such consideration as specified above. 
 Upon
receipt by Ferring of such valuation, Ferring will have thirty (30) days either to accept in writing the accounts submitted by I-MAB or to inform I-MAB in writing
that Ferring requires an independent accountant acceptable to both Ferring and I-MAB to review all Third Party Agreements and all books and accounts of I-MAB relevant
for the purposes of determining the annual total consideration received by I-MAB during the same calendar year under such Third Party Agreements. Following such review, the accountant shall inform both Parties
of the amount of such consideration and the amount shall then be binding on both Parties. Ferring may exercise the right during the term of this Agreement and until the end of three (3) years after the expiration or termination of this
Agreement once per calendar year. 
 In the event of the independent accountant confirming an amount of annual total consideration received
in the previous calendar year received by I-MAB under such Third Party Agreements equal to or within a margin of 5% (five percent) either above or below the valuation submitted by I-MAB, the costs of the independent accountant for such valuation shall be borne by Ferring. 
 In the
event of the independent accountant confirming an amount of annual total consideration received by I-MAB in the previous calendar year under such Third Party Agreements exceeding a margin of 5% (five percent)
either above or below the valuation submitted by I-MAB, the costs of the independent accountant for such valuation shall be borne by I-MAB. 

I-MAB shall promptly pay to Ferring the full amount of any underpayment owing to Ferring pursuant to
this Section 7.5 under such Third Party Agreements together with interest thereon at the rate of EURIBOR plus 2% (two percent) per year compounded monthly from the date payment was due. 

  
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	7.6	 Audit Rights 

I-MAB shall keep and shall cause its Affiliates, Sublicensees,
Sub-sublicensees and Recognized Agents to keep records of the sale of the Licensed Product in sufficient detail to permit Ferring to confirm the accuracy of Net Sales and royalties payable reported. Ferring
shall have the right at its own expense (unless the result of such audit results in a variation or error exceeding 5% (five percent) of the payment made in the previous calendar year, in which case at the expense of
I-MAB), to have a certified public accounting firm examine the relevant books and records of I-MAB, its Affiliates, Sublicensees,
Sub-sublicensees and Recognized Agents. Ferring may exercise this right during the term of this Agreement and until the end of three (3) years after the end of the Royalty Term once per calendar year. I-MAB shall promptly pay to Ferring the full amount of any underpayment, together with interest thereon, at the rate of EURIBOR plus 2% (two percent) per year compounded monthly from the date payment was due. 

 

	7.7	 Confidentiality. Both Parties shall treat all information subject to review under this Section 7 in
accordance with the confidentiality provisions of Section 5. 

  

	8.	 INTELLECTUAL PROPERTY 

 

	8.1	 Ownership of Intellectual Property. 

8.1.1 Except as expressly set out herein, this Agreement does not affect the ownership of any
I-MAB IP, Ferring Intellectual Property, Ferring Know-How, Ferring Improvements or the Sublicensed Intellectual Property. The Parties acknowledge and agree that, as
between the Parties: (a) subject to the terms and conditions of this Agreement, including Section 10.3, I-MAB shall own and retain all right, title and interest in and to any and all I-MAB IP including I-MAB Improvements; and (b) Ferring shall own and retain all right, title and interest in and to any and all Ferring
Know-How, Ferring Intellectual Property and Ferring Improvements; (c) Conaris Research Institute AG shall own and retain all right, title and interest in and to any and all Sublicensed Intellectual
Property and (d) each Party shall own and retain all right, title and interest in and to any and all other Know-How and other intellectual property rights that are owned or otherwise Controlled (other
than pursuant to the license grants set forth in Section 2.1 and 2.2) by such Party, its Affiliates or any Sublicensees, Sub-sublicensees or its or their respective Affiliates. 

  
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 8.1.2 If an Improvement is made by or on behalf of both I-MAB and Ferring, then such Improvement shall be deemed jointly-owned Intellectual Property and such Intellectual Property shall be licensed by Ferring to I-MAB under the
terms of this Agreement. 
 8.1.3 I-MAB hereby grants to Ferring a non-exclusive, fully paid, royalty free, world-wide license to any I-MAB IP. 

8.1.4 No other right of license. Except as expressly set out herein, no provision in this Agreement shall operate to transfer, assign or
otherwise grant any Party any right or interest in any Intellectual Property or other intellectual property rights of the other Party. 
  

	8.2	 Patent Filing, Prosecution and Maintenance 

8.2.1 Licensed Patents. Ferring shall prepare, file, prosecute and maintain (including with respect to related interference, re-issuance, re-examination, opposition and invalidation proceedings) the patents and patent applications of the Ferring Intellectual Property and Sublicensed Intellectual
Property in the Territory and the Optional Territory (as applicable) at its sole cost and expense, and shall not abandon any such patent or patent application in the Territory or the Optional Territory during the Option Right (as applicable) without
the prior written consent of I-MAB which shall not be unreasonably withheld. 
 8.2.2
Improvements. The Party owning an Improvement shall have responsibility for the filing, prosecution and maintenance at its sole expense, in the applicable patent offices in the Territory and/or Optional Territory (as applicable), and that Party
shall control all filings and actions in relation to procuring and maintaining such New Intellectual Property. I-MAB shall have responsibility for jointly-owned Improvements. The Parties agree to keep each
other regularly informed of the course of patent prosecution or other proceedings with respect to Improvements and shall provide each other with copies of all official documents sent to or received by the respective patent offices in the Territory
and/or Optional Territory (as applicable). 

  
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 Notwithstanding the foregoing, the Party having such responsibility for the filing,
prosecution and maintenance of Improvements shall not be required to file, prosecute or maintain any patent application or patent where that Party does not believe that such activities are commercially justified provided, however, that such Party
shall not cease to file, prosecute and maintain any such patent application or patent without giving the other Party the opportunity to take over the responsibility for filing, prosecution and maintenance at its own expense in which case that Party
shall grant the other Party an irrevocable, non-exclusive, fully paid, royalty free, world-wide license, with the right to sublicense to such Improvements. The Parties agree and acknowledge that Conaris has
the opportunity to take over responsibility for any Improvements should both Parties decline to maintain patents or patent applications on Improvements. 
  

	8.3	 Cooperation and Assistance 

Each Party shall make available its authorized attorneys, agents or representatives, its employees, agents or consultants reasonably necessary
or appropriate to enable the other Party to file, prosecute and maintain patent applications and resulting patents with respect to the Improvements, and shall provide access to such documents and other information as may be reasonably required for
such purposes. The Party shall sign or cause to have signed all documents relating to said patent applications or patents at no cost or charge to the other Party. 
  

	8.4	 Patent Term Extensions and Supplementary Protection Certificates. 

Each Party shall notify the other Party of the issuance of each patent within the Ferring Intellectual Property or I-MAB IP in any country in the Territory and the Optional Territory (as applicable) giving the date of issue and patent number for each such patent. Ferring shall have the exclusive responsibility and shall use
commercially reasonable efforts to apply for and maintain any such extension, and shall not abandon any such extension in the Territory or the Optional Territory (as applicable) without the prior written consent of
I-MAB which shall not be unreasonably withheld. 

  
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 The Parties shall cooperate with each other in gaining such extensions and each Party shall
execute such authorizations and other documents and take such other actions as may be reasonably requested by the other Party to obtain such extensions. If more than one patent is eligible for such extension, Ferring shall have the right to make the
election of which patent for which such extension will be sought. 
  

	8.5	 Patent Enforcement and Infringement 

8.5.1 Notice. If Ferring or I-MAB has knowledge of any suspected infringement of any
Intellectual Property by Third Parties or of any misappropriation or misuse of the Intellectual Property in the Territory and/or Optional Territory (as applicable), the Party having such knowledge shall promptly inform the other Party of such
infringement, misuse or misappropriation. 
 8.5.2 Course of Action. I-MAB shall have the
right, but not the obligation, at its cost to bring any legal action in the Territory and/or Optional Territory (as applicable) related to infringement by Third Parties, that impacts adversely on the enjoyment by
I-MAB of the rights licensed to it hereunder. Ferring shall join in any infringement proceeding as a party at I-MAB’s request and at
I-MAB’s expense in the event that an adverse party asserts, or I-MAB determines in good faith, that a court or other legal body lacks jurisdiction based on
Ferring’s absence as a party in such proceeding, or with respect to patents where such joinder is necessary or desirable to proceed with such claim. Ferring and Conaris shall each have the right, but not the obligation, to bring any legal
action related to infringement if I-MAB declines to do so. 
 8.5.3 Infringement of Third Party
Rights. In the event that a Third Party alleges that I-MAB’s or its Affiliate’s, Sublicensee’s and/or Sub-sublicensee’s, manufacture of the
Licensed Product or use of Improvements infringes its intellectual property in the Territory and/or Optional Territory (as applicable), I-MAB shall have the sole right to defend such action at its own expense
and Ferring agrees to assist and cooperate where reasonably necessary with I-MAB, at I-MAB’s own expense, in the defense of any such action. 

  
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 I-MAB has carried out its own analysis of Third
Party patent rights in the Territory and/or Optional Territory (as applicable) which could possibly be infringed or be alleged to be infringed by its exercise of the rights under this Agreement. I-MAB
acknowledges that the grant of the license and/or sublicense under this Agreement shall not imply any warranty against infringement of any Third Parties’ patent rights or any other rights of Third Parties. Ferring and I-MABe are in agreement that Ferring shall not be liable for any patent infringement claims brought by a Third Party against I-MAB with regard to the manufacture or marketing
of the Licensed Product in the Territory and/or Optional Territory (as applicable) and shall be under no duty to indemnify I-MAB from claims and damages arising therefrom. 

8.5.4 Settlement of Third Party Claims. I-MAB, with respect to a particular claim pursuant to
Section 8.5.3, also shall have the right to control settlement of such claim; provided that: (a) no settlement shall be entered into without the prior consent of Ferring if such settlement would adversely affect or diminish the rights and
benefits of Ferring under this Agreement, or impose any new obligations or adversely affect any obligations of Ferring under this Agreement; and (b) I-MAB shall not be entitled to settle any such claim by
granting a license or covenant not to sue under or with respect to the Sublicensed Intellectual Property or Ferring Intellectual Property without the prior written consent of Ferring, such consent not to be unreasonably conditioned, withheld or
delayed. 
 8.5.5 Costs. Each Party shall unless otherwise stated in this Section 8.5 assume and pay all of its own out-of-pocket costs incurred in connection with any litigation or proceedings described in this Section 8.5, including, without limitation, the fees and expenses of such
Party’s counsel. 
 8.5.6 Recoveries. Any recovery obtained by either Party as a result of any proceeding described in this
Section 8.5 or from any counterclaim or similar claim asserted in a proceeding described in this Section 8.5, by settlement or otherwise, shall be applied as follows: first, to reimburse each Party for all
out-of-pocket litigation costs incurred in connection with such proceeding paid by that Party (on a pro rata basis based on each Party’s respective litigation costs, to the extent the recovery was less
than all such litigation costs); and second, the remainder of the recovery shall be paid one hundred percent (100%) to the Party which funded the infringement action. Any remainder of the recovery by I-MAB
shall be treated as sub-license income pursuant to Section 7.5. 

  
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 8.5.7 Cooperation. In the event that any Party takes action pursuant to this
Section 8.5, the other Party shall cooperate fully with the Party so acting to the extent reasonably possible, including the joining of suit as required by this Agreement or as otherwise desirable and, to the extent possible, make available
relevant records, papers, information, samples, specimens, and the like. Each Party shall keep the other informed of developments in any action or proceeding, including the status of any settlement negotiations and the terms of any offer related
thereto. 
  

	8.6	 Validity and Enforceability Challenge by Third Party 

In the event that a Third Party attacks the validity or enforceability of any of the Ferring Intellectual Property in the Territory and/or the
Optional Territory (as applicable), then Ferring shall promptly notify I-MAB and Ferring, at its own discretion, subject to good business judgement, shall promptly take such legal action as is required and
appropriate to defend the validity thereof. 
 If Ferring does not take such legal action as is required to defend the validity of the
Ferring Intellectual Property in the Territory and/or Optional Territory (as applicable), Ferring shall provide at least sixty (60) days written notice to I-MAB prior to a corresponding deadline, if
applicable, and the Parties shall reasonably determine an appropriate alternative in the best interests of both Parties. 
 The Parties agree
and acknowledge that should a Third Party attack the validity or enforceability of any of the Sublicensed Intellectual Property in the Territory and/or the Optional Territory (as applicable) and Ferring does not take such legal action as is required
to defend the validity of such Sublicensed Intellectual Property, then Conaris at its option shall control defense. 

  
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	8.7	 Product Trademarks 

8.7.1 Maintenance and Ownership of Product Trademarks. I-MAB, at its expense, shall be
responsible for the selection, registration and maintenance of all Trademarks that I-MAB employs in connection with the Licensed Product (“Product Trademarks”).
I-MAB shall own all right, title and interest to such Trademarks, trade dress and copyrights in the Territory and Optional Territory (as applicable) related to the Licensed Product. 

8.7.2 Enforcement of Product Trademarks. I-MAB may, at its sole discretion, take such action as I-MAB deems necessary against a Third Party based on any alleged, threatened, or actual infringement, dilution, misappropriation, or other violation of, or unfair trade practices or any other like offense relating
to, the Product Trademarks by a Third Party in the Territory or the Optional Territory (as applicable). I-MAB shall bear the costs and expenses relating to any enforcement action commenced pursuant to this
Section 8.7.2 and any settlements and judgments with respect thereto, and shall retain any damages or other amounts collected in connection therewith. 

8.7.3 Third Party Claims. I-MAB may, at its sole discretion, defend against any alleged,
threatened, or actual claim by a Third Party that the use or registration of the Product Trademarks in the Territory or the Optional Territory (as applicable) infringes, dilutes, or otherwise violates any trademark or other right of such Third Party
or constitutes unfair trade practices or any other like offense, or any other claims as may be brought by a Third Party against a Party in connection with the use of the Product Trademarks with respect to a Licensed Product in the Territory or the
Optional Territory (as applicable). I-MAB shall bear the costs and expenses relating to any defense commenced pursuant to this Section 8.7.3 and any settlements and judgments with respect thereto, and
shall retain any damages or other amounts collected in connection therewith. 
 8.7.4 Notice and Cooperation. Each Party shall provide
to the other Party prompt written notice of any actual or threatened infringement of the Product Trademarks in the Territory and the Optional Territory (as applicable) and of any actual or threatened claim that the use of the Product Trademarks in
the Territory or the Optional Territory (as applicable) violates the rights of any Third Party. Each Party shall cooperate fully with the other Party with respect to any enforcement action or defense commenced pursuant to this Section 8.7. 

  
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	9.	 TERM AND TERMINATION 

 

	9.1	 Term. This Agreement shall commence on the Effective Date and shall, unless earlier terminated in
accordance with this Section 9, continue: (a) with respect to the Licensed Product in each country in the Territory and the Optional Territory (as applicable, cf. Clause 2.2), until the expiration of the Royalty Term for the Licensed
Product in such country; and (b) with respect to this Agreement in its entirety, until the later of: (i) the expiration of the Royalty Term for the Licensed Product for which there has been a First Commercial Sale in the Territory or the
Optional Territory (as applicable); or (ii) the first date on which I-MAB is not conducting any necessary and outstanding Clinical Study with respect to any Licensed Product or seeking to obtain any
necessary and pending Regulatory Approval for the Licensed Product in the Territory or the Optional Territory (if applicable) (such period, the “Term”). 

 

	9.2	 Termination of this Agreement for Material Breach. In the event that either Party materially breaches
this Agreement (such Party, the “Breaching Party”), in addition to any other right and remedy the other Party (the “Complaining Party”) may have, the Complaining Party may terminate this Agreement, in its entirety
upon thirty (30) days’ prior written notice (the “Termination Notice Period”) to the Breaching Party, specifying the material breach and its claim of right to terminate, provided that the termination shall not become
effective at the end of the Termination Notice Period if the Breaching Party cures the material breach complained of during the Termination Notice Period. 

  

	9.3	 Termination Upon Insolvency. Either Party may terminate this Agreement if, at any time, the other Party:
(a) files in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization (other than for the purposes of merger or amalgamation) or for an
arrangement or for the appointment of a receiver or trustee of such other Party or of its assets; (b) proposes a written agreement of composition or extension of its debts; (c) is served with an involuntary petition against it, filed in
any insolvency proceeding that is not dismissed within thirty (30) days after the filing thereof; (d) proposes or is a party to any dissolution or liquidation; or (e) makes an assignment for the benefit of its creditors.

  
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	9.4	 Termination of Sublicensed Intellectual Property. Ferring may terminate this Agreement with respect to
the license grant hereunder to Sublicensed Intellectual Property in the event the main license (Development and License Agreement dated November 11, 2008) governing the Sublicensed Intellectual Property is terminated by Conaris AG. The Parties
hereby agree to discuss in good faith how to resolve and mitigate to the satisfaction of both Parties any consequences negatively impacting I-MAB and its representatives, including potential participants in
clinical trials, in its continued efforts under the license grants under this Agreement due to such termination, (provided that such termination of Sublicensed Intellectual Property is not due to lack of diligence, negligence or breach of this
Agreement by I-MAB or its representatives). The agreed process should this happen shall be made in writing and shall be signed as an Amendment to this Agreement no later than forty five (45) days after
the Effective Date. 

  

	10.	 CONSEQUENCE OF TERMINATION 

 

	10.1	 In the event of Ferring’s termination of this Agreement pursuant to Sections 9.2 or 9.3, I-MAB shall within thirty (30) days of such termination pay to Ferring in full all unpaid amounts which otherwise became due and payable to Ferring prior to such termination in accordance with this Agreement.
The licenses, sublicenses, sub-sub licenses, if any, and other rights granted to I-MAB hereunder shall be terminated as of the effective date of the termination and
Ferring shall have an irrevocable, worldwide, royalty free, non-exclusive license with right to sublicense, to all I-MAB Intellectual Property. I-MAB shall transfer to Ferring without delay all applications to and approvals of Regulatory Authorities for clinical trials and/or sale of Licensed Product, all data and Information in its possession related to
the Licensed Compound and the Licensed Product including its database on the Licensed Compound and the Licensed Product, any master cell bank and the Manufacturing Process for the Licensed Compound and the Licensed Product, all quantities of
Licensed Compound, Licensed Product, clinical trial samples or Materials in its possession and as reasonably required by Ferring for progressing to the commercialization of a Licensed Product. 

  
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	10.2	 In the event of Ferring’s termination pursuant to Section 9.2 or 9.3 after First Commercial
Sale, I-MAB shall transfer free of charge the ownership of its trademarks, trade dress and/or copyrights for the Licensed Product to Ferring and cooperate with Ferring in the transfer of any sales of Licensed
Product to Ferring or a Third Party designated by Ferring in addition to the consequences under Section 10.1. 

  

	11.	 ACCRUED RIGHTS; SURVIVING OBLIGATIONS 

 

	11.1	 Accrued Rights. Termination or expiration of this Agreement for any reason shall be without prejudice to
any rights that shall have accrued to the benefit of a Party prior to such termination or expiration. Such termination or expiration shall not relieve a Party from obligations that are expressly indicated to survive the termination or expiration of
this Agreement. 

  

	11.2	 Survival. Without limiting the foregoing, Articles 10, 14, 17, 21 and 23 and Section 2.5.4, 5.2
— 5.7, 7.6, and 7.7 shall survive the termination or expiration of this Agreement for any reason. 

  

	12.	 GENERAL PERFORMANCE STANDARDS 

Each Party shall utilise qualified, skilled and experienced personnel in performing their obligations under this Agreement. Such personnel
shall be familiar with the GMP level relevant to their role in the process. 
 Each Party shall perform all its obligations under this
Agreement with all due skill and care, in a professional manner and in accordance with all Applicable Laws and regulations. 
 In relation to
development, manufacturing and other work necessary to obtain regulatory approvals of the Licensed Product, each Party shall perform its obligations in accordance with the present scientific state of the art as well as current demands from the
relevant regulatory and other authorities. 

  
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 Should either Party become aware of any incident which will or is likely to cause delay to
or impair the performance of its obligations under this Agreement, such Party shall immediately notify the Joint Committee, and inform the other Party of actions, initiated and planned in order to remedy the delay. 

Each Party represents and warrants that it has, and will maintain during the term hereof, the authority and right to perform its obligations
under this Agreement and that it has, and will maintain during the term hereof, any permits, licences, facilities, knowledge, specialists and personnel necessary for performance of its obligations under this Agreement. 

 

	13.	 MANUFACTURE AND SUPPLY 

 

	13.1	 Supply by Ferring for Phase IB Clinical Trial 

13.1.2 Ferring will pay for the continued shelf life stability testing to the end of 2017 for the current Licensed Product. Ferring will
use reasonable efforts to assist I-MAB with additional testing at I-MAB’s cost in the event that further extensions are required beyond 2017. Stability testing and
payment of costs therefore have been detailed in attached Schedule C. 
 13.2 I-MAB’s
Manufacture Duty. I-MAB shall, at its own cost, Manufacture or have Manufactured the Licensed Compound and/or the Licensed Product required for completing the relevant Clinical Studies. I-MAB shall, at its own cost, complete all testing, shipping, labelling and other readiness work required for completing the Phase II Clinical Studies; provided that Ferring shall provide assistance as reasonably
requested by I-MAB. 

  
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	14.	 WARRANTIES, REPRESENTATIONS, INDEMNIFICATION AND INSURANCE 

 

	14.1	 Mutual Representations and Warranties. Each Party hereby represents and warrants to the other Party as
of the Effective Date as follows: 

 14.1.1 Corporate Authority. Such Party: (a) has the power and authority
and the legal right to enter into this Agreement and perform its obligations hereunder; and (b) has taken all necessary action on its part required to authorize the execution and delivery of this Agreement and the performance of its obligations
hereunder. This Agreement has been duly executed and delivered by such Party and constitutes a legal, valid and binding obligation of such Party and is enforceable against it in accordance with its terms subject to the effects of bankruptcy,
insolvency or other laws of general application affecting the enforcement of creditor rights and judicial principles affecting the availability of specific performance and general principles of equity, whether enforceability is considered in a
proceeding at law or equity. 
 14.1.2 Consent and Approvals. To the best of its belief and knowledge, all necessary consents,
approvals and authorizations of all Regulatory Authorities and other Persons required to be obtained by such Party in connection with the execution and delivery of this Agreement and the performance of its obligations hereunder have been obtained.

 14.1.3 Conflicts. To the best of its belief and knowledge, the execution and delivery of this Agreement and the performance of such
Party’s obligations hereunder: (a) do not conflict with or violate any requirement of Applicable Law or any provision of the articles of incorporation or bylaws of such Party in any material way; and (b) do not conflict with, violate
or breach or constitute a default or require any consent under, any contractual obligation or court or administrative order by which such Party is bound. 
  

	14.2	 Representations and Warranties of I-MAB. I-MAB represents and warrants to Ferring as follows, as of the Effective Date: 

14.2.1 No Debarment. Neither I-MAB nor any of its Affiliates has been debarred or is subject to
debarment and neither I-MAB nor any of its Affiliates will use in any capacity, in connection with the activities to be performed under this Agreement, any Person who has been debarred under Applicable Law in
the relevant jurisdiction; and 

  
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 14.2.2 Compliance. I-MAB shall, at all times,
comply in all material respects with all Applicable Laws, rules and regulations and standards applicable to the Development Plan. 
  

	14.3	 Representations and Warranties of Ferring. Ferring represents and warrants to I-MAB as follows, to the best of its belief and knowledge as of the Effective Date: 

14.3.1 Title; Encumbrances. It has sufficient legal and/or beneficial title, ownership or license, free and clear from any mortgages,
pledges, liens, security interests, conditional and installment sales agreements, encumbrances, charges or claims of any kind, of or to the Sublicensed Intellectual Property to grant the licenses and sublicenses to
I-MAB as purported to be granted pursuant to this Agreement; 
 14.3.2 Notice of Infringement or
Misappropriation. It has not received any written notice from any Third Party asserting or alleging that any use of the Licensed Compound or any development of the Licensed Product would infringe, misappropriate or otherwise violate the
intellectual property rights of such Third Party; 
 14.3.3 No Proceeding. There are to the best of its knowledge no pending, and no
threatened, adverse actions, suits or proceedings against Ferring involving the Sublicensed Intellectual Property. 
 14.3.4 No Debarment.
Neither Ferring nor any of its Affiliates has been debarred or is subject to debarment and neither Ferring nor any of its Affiliates will use in any capacity, in connection with the activities to be performed under this Agreement, any Person who
has been debarred under Applicable Law in the relevant jurisdiction; and 
 14.3.5 Compliance. Ferring shall, and shall procure its
Affiliates to, comply with all Applicable Laws when performing its and their respective obligations under this Agreement. 
  

	14.4	 No Benefit to Third Parties. The representations, warranties, covenants and agreements set forth in this
Agreement are for the sole benefit of the Parties and their successors and permitted assigns, and they shall not be construed as conferring any rights on any Third Parties. 

  
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	14.5	 Indemnification. 

14.5.1 Indemnification by the Parties. Each Party (the “Indemnifying Party”) shall indemnify and hold harmless the
other Party’s officers, directors, shareholders, employees, successors and assigns (“Indemnified Party”) from any loss, damage or liability, including reasonable attorney’s fees resulting from any claim, complaint, suit,
proceeding or course of action brought by or on behalf of an injured Third Party or a spouse, relative or companion of an injured Third Party, against any of them, alleging personal or related injury, including death, loss of service or consortium
or a similar such claim, due to such personal injury or death, and arising out of the performance of this Agreement (the “Loss”), save that the Indemnifying Party shall not be obliged to indemnify and hold harmless the Indemnified
Party in accordance with the terms of this Section 14.5.1 to the extent that such Loss is attributable to the material breach of this Agreement, failure to adhere to Applicable Laws or regulations, or the negligence or willful misconduct of the
Indemnified Party. 
 14.5.2 With respect to any claim for indemnification asserted by the Indemnified Party pursuant to
Section 14.5.1: 
  

	 	(a)	 The Indemnifying Party shall have no obligation to indemnify the Indemnified Party requesting
indemnification unless: 

  

	 	(i)	 the Indemnified Party gives the Indemnifying Party prompt written notice of any claim or lawsuit or other
action for which it seeks to be indemnified under this Agreement; 

  

	 	(ii)	 the Indemnifying Party is granted full authority and control over the defense including settlement against such
lawsuit or other action; provided, however, that: (i) such settlement involves only the payment of monetary damages and no injunctive relief binding on the Indemnified Party, and such monetary damages are paid by the Indemnifying Party;
(ii) the Indemnified Party is not required under such settlement to admit any liability; and (iii) the Indemnified Party is released from all further liability with respect to such claim; and 

 

	 	(iii)	 the Indemnified Party co-operates fully with the Indemnifying Party and
its agents in defense of the claims or lawsuit or other action. 

  
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	 	(b)	 The Indemnified Party shall have the right to participate, at its sole cost and expense, in the defense of any
such claim, complaint, suit proceeding or course of action referred to in this paragraph utilizing legal counsel of its choice, provided however that the Indemnifying Party shall have full authority and control to handle any such claim, complaint,
suit, proceeding or course of action, including any settlement or other disposition thereof, for which indemnification has been sought under this Section. 

14.5.3 No Consequential Damages: In no event shall either Party be liable or responsible to the other Party under this Agreement for any
special, indirect, incidental or consequential loss or damage of any nature whatsoever, including without limitation, any actual or anticipated profits, loss of time, inconvenience, commercial loss, out of pocket expenses reasonably incurred by a
Party hereto or any other similar losses. 
  

	14.6	 Insurance. I-MAB shall secure and keep in force during the term
of this Agreement, at its sole cost and expense, a commercial product insurance and clinical trial insurance policy and any other insurance policies as customarily used in the pharmaceutical industry in the Territory and/or Optional Territory, as
applicable. 

  

	15.	 ASSIGNMENT 

  

	15.1	 This Agreement and the licenses and sublicenses herein granted shall be binding upon and inure to the
benefit of the successors in interest of the respective Parties. 

  
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	15.2	 Without the prior written consent of the other Party, neither Party shall sell, transfer, assign,
delegate, pledge or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this Agreement or any of its rights or duties hereunder; provided that I-MAB may, with such
consent, but not to be unreasonably withheld, assign this Agreement and its rights and obligations hereunder to an Affiliate, to the purchaser of substantially all of its assets required for the further Development and Commercialization of the
Licensed Products in the Territory and the Optional Territory (as applicable), or to its successor entity or acquirer in the event of a merger, consolidation or change in control of I-MAB. Any attempted
assignment or delegation in violation of the preceding sentence shall be void and of no effect. All validly assigned and delegated rights and obligations of the Parties hereunder shall be binding upon and inure to the benefit of and be enforceable
by and against the successors and permitted assigns of Ferring or I-MAB, as the case may be. In the event either Party seeks and obtains the other Party’s consent to assign or delegate its rights or
obligations to another Party, the assignee or transferee shall assume all obligations of its assignor or transferor under this Agreement. Notwithstanding anything herein to the contrary, in no event may Ferring assign or grant a license under any
portion of the Sublicensed Intellectual Property in the Territory or Optional Territory (as applicable), or sell, transfer, assign, delegate, pledge or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this
Agreement or any of its rights or duties hereunder, to a then existing or prospective direct competitor of I-MAB for the Licensed Product in the Territory or Optional Territory (as applicable). Any attempted
assignment, license or delegation in violation of the preceding sentence shall be void and of no effect. 

  

	16.	 INDEPENDENT CONTRACTORS 

 

	16.1	 It is expressly agreed that Ferring, on the one hand, and I-MAB,
on the other hand, shall be independent contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture or agency. Neither Ferring, on the one hand, nor I-MAB,
on the other hand, 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, without the prior written consent of the other Party to do so, such consent
not to be unreasonably conditioned, withheld or delayed. All persons employed by a Party shall be employees of such Party and not of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and
expense of such Party. 

  
 49 of 60 

	17.	 NOTICES 

  

	17.1	 Notice Requirements. Any notice, request, demand, waiver, consent, approval or other communication
permitted or required under this Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if delivered by hand or sent by facsimile transmission (with transmission confirmed) or by internationally
recognized overnight delivery service that maintains records of delivery, addressed to the Parties at their respective addresses specified in Section 17.2 or to such other address as the Party to whom notice is to be given may have provided to
the other Party in accordance with this Section 17. Such notice shall be deemed to have been given as of the date delivered by hand or transmitted by facsimile (with transmission confirmed) or on the third Business Day (at the place of
delivery) after deposit with an internationally recognized overnight delivery service. Any notice delivered by facsimile shall be confirmed by a hard copy delivered as soon as practicable thereafter. This Section 17 is not intended to govern
the day-to-day business communications necessary between the Parties in performing their obligations under the terms of this Agreement. 

 

	17.2	 Address for Notice.  

If to I-MAB, to: 

I-MAB 

Suite 219, Bldg 6 Chamtime Plz, 

2889 Jinke Rd. 
 Pudong New
District, 
 Shanghai, 201203, 

The People’s Republic of China 

Attention: Jingwu Zang 
 If to
FERRING, to: 
 Ferring International Center SA 

CH. DE LA VERGOGNAUSAZ 50, 
 1162
Saint-Prex, Switzerland 
 Attention: Group General Counsel 

  
 50 of 60 

	18.	 ENTIRE AGREEMENT; WAIVER 

 

	18.1	 Entire Agreement; Amendments. This Agreement, together with the Schedules attached hereto, sets forth
and constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof and all prior agreements, understandings, promises and representations, whether written or oral, with respect thereto are superseded
hereby, including that certain confidential disclosure agreement between Ferring and I-MAB dated September 25, 2016. Each Party confirms that it is not relying on any representations or warranties
of the other Party except as specifically set forth herein. No amendment, modification, release or discharge shall be binding upon the Parties unless in writing and duly executed by authorized representatives of both Parties. 

 

	18.2	 Waiver and Non-Exclusion of Remedies. Any term or condition of
this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term or condition.
The waiver by either Party of any right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by the other Party whether of a similar
nature or otherwise. 

  

	18.3	 English Language. This Agreement shall be written and executed in, and all other communications under or
in connection with this Agreement shall be in, the English language. Any translation into any other language shall not be an official version thereof, and in the event of any conflict in interpretation between the English version and such
translation, the English version shall control. 

  

	18.4	 References. Unless otherwise specified; (a) references in this Agreement to any Article, Section or
Schedule means references to such Article, Section or Schedule of this Agreement; (b) references in any section to any clause are references to such clause of such section; and (c) references to any agreement, instrument or other document
in this Agreement refer to such agreement, instrument or other document as originally executed or, if subsequently varied, replaced or supplemented from time to time, as so varied, replaced or supplemented and in effect at the relevant time of
reference thereto. 

  
 51 of 60 

	18.5	 Construction. Except where the context otherwise requires, wherever used, the singular shall include the
plural, the plural shall include the singular, the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or). The captions of this Agreement are for convenience of reference only and in
no way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. The term “including” as used herein means including, without limiting the generality of any
description preceding such term. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction shall be applied against either Party. 

 

	19.	 SEVERABILITY 

  

	19.1	 To the fullest extent permitted by Applicable Law, the Parties waive any provision of law that would
render any provision in this Agreement invalid, illegal, or unenforceable in any respect. If any provision of this Agreement is held to be invalid, illegal, or unenforceable, in any respect, then such provision will be given no effect by the Parties
and shall not form part of this Agreement. To the fullest extent permitted by Applicable Law and if the rights or obligations of either Party will not be materially and adversely affected, all other provisions of this Agreement shall remain in full
force and effect, and the Parties shall use their best efforts to negotiate a provision in replacement of the provision held invalid, illegal, or unenforceable that is consistent with Applicable Law and achieves, as nearly as possible, the original
intention of the Parties. 

 20. FURTHER ASSURANCE AND REGISTRATION 

 

	20.1	 Further Assurance. Each Party shall duly execute and deliver, or cause to be duly executed and
delivered, such further instruments and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents and instruments, as may be necessary or as the other Party may reasonably request in
connection with this Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and confirm unto such other Party its rights and remedies under this Agreement. 

  
 52 of 60 

	20.2	 Registration. Either Party shall have the right at any time to record, register or otherwise notify
(collectively, “Register”) this Agreement with or to appropriate governmental or regulatory offices after having first given thirty (30) days’ written notice to the other Party of its intention so to do; provided however, that if
feasible, such Registration shall be made pursuant to confidentiality protections, if available, and otherwise, except as may be required under law, all financial and other material and sensitive business terms of this Agreement shall be redacted
from any copy of this Agreement that is to Registered. The other Party shall provide reasonable assistance in effecting such Registration. 

  

	21.	 GOVERNING LAW; RELIEF 

 

	21.1	 Governing Law. This Agreement shall be governed by, and construed in accordance with Swiss law,
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. The Parties agree to exclude the application to this Agreement of
the United Nations Convention on Contracts for the International Sale of Goods. 

  

	21.2	 Injunctive Relief. Notwithstanding anything to the contrary in this Agreement, either Party shall be
entitled to seek interim relief from, and bring suit before, any court of competent jurisdiction based on the cause of action of intellectual property infringement. 

 

	21.3	 Equitable Relief. The Parties acknowledge and agree that the restrictions set forth in Section 5
are reasonable and necessary to protect the legitimate interests of the Parties and that neither Party would not have entered into this Agreement in the absence of such restrictions imposed on the other Party by these provisions, and that any breach
or threatened breach of any provision of Section 5 may result in irreparable injury to the non-breaching Party for which there will be no adequate remedy at law. Notwithstanding anything to the
contrary in this Agreement, in the event of a breach or threatened breach of any provision of Section 5, the non-breaching Party shall be authorized and entitled to obtain from any court of competent
jurisdiction injunctive relief, whether preliminary or permanent, specific performance and an equitable accounting of all earnings, profits and other benefits arising from such breach, which rights shall be cumulative and in addition to any
other rights or remedies to which such non-breaching Party may be entitled in law or equity. To the maximum extent permitted under Applicable Law, both Parties agree to waive any requirement that the other
Party: (a) post a bond or other security as a condition for obtaining any such relief; and (b) show irreparable harm, balancing of harms, consideration of the public interest or inadequacy of monetary damages as a remedy. Nothing in this
Section 21.3 is intended, or should be construed, to limit either Party’s right to equitable relief or any other remedy for a breach of any other provision of this Agreement. 

  
 53 of 60 

	22.	 FORCE MAJEURE 

 

	22.1	 If either Party is prevented from complying, either totally or in part, with any of the terms or
provisions of this Agreement, by reason of a Force Majeure, then, upon written notice by the Party liable to perform to the other Party, the requirements of this Agreement or such of its provisions as may be affected (excluding, however, any
obligation to pay money) and to the extent so affected, shall be suspended during the period of such Force Majeure; provided, that the Party asserting a Force Majeure shall bear the burden of establishing the existence of the Force Majeure, shall
use its best efforts to remove the Force Majeure, shall continue performance with dispatch whenever such causes are removed, and shall notify the other Party of the Force Majeure not more than ten (10) calendar days from the time of the event;
provided, however, that the Party not asserting the Force Majeure shall have the right, upon payment of all sums due and owing under this Agreement, to terminate the Agreement upon written notice to the Party asserting the Force Majeure if the Force
Majeure continues for more than three (3) months. 

  
 54 of 60 

	23.	 DISPUTE RESOLUTION 

 

	23.1	 Dispute Resolution. If a dispute arises between the Parties in connection with the interpretation,
validity or performance of this Agreement or any document or instrument delivered in connection herewith (a “Dispute”), then either Party shall have the right to refer such dispute to the Parties’ executive officers for
attempted resolution by good faith negotiations during a period of thirty (30) days. Any final decision mutually agreed to by the executive officers shall be conclusive and binding on the Parties. If such executive officers are unable to
resolve such Dispute within such thirty-day period, the Dispute will be settled by the Courts of the city of Lausanne. Either Party may enter such award in a court having competent jurisdiction and any Party
to the Dispute may apply to a court of competent jurisdiction for enforcement of such award. 

  

	23.2	 Continuing Performance. The Parties agree to continue performing their respective obligations under this
Agreement to the extent practicable while any Dispute is being resolved hereunder unless and until such obligations are terminated or expire in accordance with the provisions hereof 

 

	24.	 EXECUTION IN COUNTERPARTS 

 

	24.1	 This Agreement may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. This Agreement may be executed by facsimile or other electronic signatures and such signatures shall be deemed to bind each Party as if they were original signatures.

 [SIGNATURE PAGE FOLLOWS] 

 This Agreement is executed by the authorized representatives of the Parties as of the
Effective Date. 
  

	
	FERRING INTERNATIONAL CENTER SA
	
	 /s/ Ferring International Center SA

	
	Date: 04/11/2016
	
	I-MAB
	
	 /s/ I-Mab

  
 56 of 60 

 Schedule A 

Licensed Know-How 

Regulatory Documentation for filing or submission to Regulatory Authorities 

  
 57 of 60 

 Schedule B 

Schedule B1  

Licensed Intellectual Property 
  

													
	FE301 composition
	 Application No.
	  	Application Date	  	State	  	Patent No.	  	Grant Date	  	Status	  	Owner
	 PCT/NL2015/050837
	  	01/12/2015	  	WO	  	N/A	  	N/A	  	Pending	  	Ferring BV

  

													
	FE301 dosing
	 Application No.
	  	Application Date	  	State	  	Patent No.	  	Grant Date	  	Status	  	Owner
	 PCT/IB2015/002459
	  	01/12/2015	  	WO	  	N/A	  	N/A	  	Pending	  	Ferring BV

 Schedule B2 

Sublicensed Intellectual Property 
  

													
	Fusion proteins comprising two soluble gp130 molecules
	 Application No.
	  	Application Date	  	State	  	Patent No.	 	  	Status	  	Owner
	 00 108 691.7
	  	21/04/2000	  	EP	  	 	1 148 065	 	  	validated	  	Conaris research institute AG

  

													
	Optimized nucleotide sequences encoding sgp130
	 Application No.
	  	Application Date	  	State	  	Patent No.	 	  	Status	  	Owner
	 04 020 455.4
	  	27/08/2004	  	EP	  	 	1 630 232	 	  	validated	  	Conaris research institute AG
	 PCT/EP2005/009247
	  	26/08/2005	  	WO	  	 	—  	 	  	expired	  	Conaris research institute AG
	 11/660,461
	  	26/08/2005	  	US	  	 	8206948	 	  	Granted	  	Conaris research institute AG
	 2575800
	  	26/08/2005	  	CA	  				  	Pending	  	Conaris research institute AG
	 2007-528753
	  	26/08/2005	  	JP	  	 	4615061	 	  	Granted	  	Conaris research institute AG

  
 58 of 60 

																	
	Improved sgp130Fc dimers
	 Application No.
	  	Application Date	  	State	  	 	 	  	Patent No.	 	  	Status	  	Owner
	 06 013 668.6
	  	30/06/2006	  	EP	  				  	 	1873166	 	  	Validateed	  	Conaris research institute AG
	 PCT/EP2007/005812
	  	29/06/2007	  	WO	  	 	—  	 	  	 	—  	 	  	Expired	  	Conaris research institute AG
	 2007263939
	  	29/06/2007	  	AU	  				  	 	200763939	 	  	Granted	  	Conaris research institute AG
	 PI0713063-5
	  	29/06/2007	  	BR	  				  				  	Pending	  	Conaris research institute AG
	 2656440
	  	29/06/2007	  	CA	  				  				  	Pending	  	Conaris research institute AG
	 200780024879.1
	  	29/06/2007	  	CN	  				  	 	200780024879.1	 	  	Granted	  	Conaris research institute AG
	 200802396
	  	29/06/2007	  	EA	  				  	 	015620	 	  	Granted	  	Conaris research institute AG
	 10742/DELNP/2007
	  	29/06/2007	  	IN	  				  	 	265303	 	  	Granted	  	Conaris research institute AG
	 2009-517012
	  	29/06/2007	  	JP	  				  	 	5417171	 	  	Granted	  	Conaris research institute AG
	 10-2009-700163
	  	29/06/2007	  	KR	  				  	 	10-1474817	 	  	Granted	  	Conaris research institute AG
	 200814839
	  	29/06/2007	  	UA	  				  	 	95363	 	  	Granted	  	Conaris research institute AG
	 12/307,003
	  	29/06/2007	  	US	  				  	 	8895012	 	  	Granted	  	Conaris research institute AG
	 14/109,466
	  	29/06/2007	  	US	  				  	 	9034817	 	  	Granted	  	Conaris research institute AG
	 14/689,635
	  	29/06/2007	  	US	  				  				  	Allowed	  	Conaris research institute AG

  
 59 of 60 

 Schedule C 

Materials as of the Effective Date + additional shelf line testing 

160908 FE 301 Inventory and Shelf-life 
  

					
		  	Drug Substance	  	Drug Product
	Storage	  	-70 degrees	  	-20 degrees
	Container	  	polypropylene bottle	  	vial
	Volume	  	2.8 L	  	5 mL
	Concentration	  	21.3 g/L	  	15 mg/mL
	Quantity per container	  	59.6g	  	75mg
	Confirmed Shelf Life	  	4 years	  	18 months (ongoing stability)
	Shelf life with current testing plan	  	6 years (until April 2018)	  	3 years (until Dec 2017)
	Comment on Shelf Life	  	Highly stable. Good probability that shelf life can be extended to at least 6 years.	  	Highly stable. Good probability that shelf life can be extended to 4 years. Issue: Contractor will close facility after end 2017 so transfer of assays required (could be Lonza since assays very similar)
	Testing site	  	Lonza UK	  	Octoplus NL
	Activity (CBA) testing site	  	Ferring BTG Israel	  	Ferring BTG Israel
	Cost for 2016	  	€31,000 (Ferring)	  	€16,000 ( Ferring)
	Cost for 2017	  	€30,600 (Ferring)	  	€14,600 (Ferring)
	Cost for 2018	  	€30,600 (I-MAB if requested)	  	€14,600 (I-MAB)
	Available inventory	  	20 bottles (1.8kg)	  	5000 vials (375g)
	Ferring direct costs	  	€ 100,000 per bottle	  	€200 per vial

 Cell Line storage is €35,000 per year, (Ferring responsibility and discretion if and when to discontinue). 

Reference standard — ongoing real-time stability costs (Ferring until 2017. If subsequent testing is required,
I-MAB to take over. 
 Arising assay transfer costs in case of change in testing site for Drug Product beyond 2017
— Ferring will assist but all costs and responsibility will be taken over by I-MAB. 

  
 60 of 60EX-10.18

 Exhibit 10.18 

COLLABORATION AGREEMENT 

between 
 ABL Bio

 and 
 I-Mab 
 Dated July 26, 2018 

 EXECUTION VERSION 

 
 This Collaboration Agreement (“Agreement”) is made and entered into as
of the date first written above (the “Effective Date”) by and between ABL Bio having a business address at 16, Daewangpangyo-ro 712beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, 13488, Republic of Korea (“ABL Bio”) and I-Mab, having a business address
at P. O. Box 31119 Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand Cayman, KY1-1205 Cayman Islands (“I-Mab ”). For purposes of this Agreement,
ABL Bio and I-Mab are each referred to individually as a “Party” and together the “Parties.” 

WHEREAS, ABL Bio has developed expertise in the area of bi-specific antibodies for cancer treatment and has developed proprietary intellectual property
around the technology for BsAb (the “BsAb Technology” as further defined herein). 
 WHEREAS,
I-Mab has developed three antibodies that it desires to incorporate into a bi-specific antibody using such BsAb Technology and has expertise in developing biologics.

 WHEREAS, ABL Bio and I-Mab agreed to collaborate to enable the development and commercialization of PD-L1/4-1BB, PD-L1/TIGIT and PD-L1/B7H3 BsAbs (each as defined herein); 

WHEREAS, ABL Bio and I-Mab entered into five Materials Transfer Agreements for the transfer of certain DNA and
protein sequences of applicable antibodies from I-Mab to ABL Bio (the “Materials Transfer Agreement”). 

NOW, THEREFORE, I-Mab and ABL Bio agree in this Collaboration Agreement (“Agreement”) as
follows: 
  

	1.	 Definitions 

 

	 	1.1	 “Affiliates” shall mean with respect to a Party, an entity that directly or indirectly through
one (1) or more intermediaries, controls, is controlled by or is under common control with such Party. In this definition, “control” means: (a) in the case of corporate entities, direct or indirect ownership of at least fifty
percent (50%) of the stock or shares having the right to vote for the election of directors; and (b) in the case of non-corporate entities, direct or indirect ownership of at least fifty percent (50%) of
the equity interest with the power to direct the management and policies of such entities. 

  

	 	1.2	 “ABL Bio Parental Antibody” shall mean the monoclonal antibody against 4-1BB and B7H3, controlled by ABL Bio as described in Appendix 1. 

  

	 	1.3	 “ABL Bio Parental Antibody Patent Rights” shall mean any and all Patent Rights
Controlled by ABL Bio during the Term that claim or cover the composition, use or manufacture of the Parental Antibodies. Such Patent Rights are listed in Appendix 1, as may be updated from time to time. 

 

	 	1.4	 “Business Day” shall mean any day (other than Saturday or Sunday) when banks are open for
business in both China and the Republic of Korea. 

  

	 	1.5	 “BsAb” shall mean a bi-specific antibody molecule
constructed by the combination of two Parental Antibodies using BsAb Technology, wherein one of the Parental Antibodies is PD-L1, and the other is TIGIT, 4-1BB or B7H3.

  

	 	1.6	 “BsAb Improvements” shall mean any and all improvements to the BsAb, whether patentable or
not, that have been identified, discovered or made by or on behalf of either Party or its Affiliates during the Term. For avoidance of doubt, any and all improvements to BsAb Technology, ABL Bio Parental Antibody and
I-Mab Parental Antibody that are specifically designed for BsAb should be deemed BsAb Improvements. 

  
 - 1 - 

 EXECUTION VERSION 

 
  

	 	1.7	 “BsAb Technology” shall mean the Know-How Controlled
by ABL Bio during the Term that is reasonably necessary or useful for the practice of the bispecific antibody platform technology, which can cause one antibody to bind two different targeted antigens as described in Appendix 1.

  

	 	1.8	 “BsAb Technology Improvement(s)” shall mean any and all data, results and other Know-How, inventions and developments that constitute improvements to the BsAb Technology, whether patentable or not, that have been identified, discovered or made by or on behalf of either Party or its Affiliates
during the Term and are not specifically designed for BsAb. For the avoidance of doubt, Know-How and Patent Rights pertaining solely to the BsAb Technology itself (but not to Parental Antibody Technology)
shall be deemed as BsAb Technology Improvement, and any and all improvements to the BsAb Technology that are specifically designed for BsAb should be deemed BsAb. 

 

	 	1.9	 “Ca” shall mean the percentage value of costs sharing ascribed to ABL Bio in Appendix
5. 

  

	 	1.10	 “Ci” shall mean the percentage value of cost sharing ascribed to I-Mab in Appendix 5. 

  

	 	1.11	 “Clinical Development” shall mean the Research and Development after the fulfilment of
Decision Point II. 

  

	 	1.12	 “Clinical Development Plan” shall mean, subject to Section 3, a plan
for the Clinical Development activities to be performed by either Party under this Agreement that may be amended from time to time according to Section 6. 

 

	 	1.13	 “Clinical Development Report” shall mean, subject to Section 3, the
report provided by a Party to the other Party summarizing the Clinical Development activities it has performed during the past calendar quarter. 

  

	 	1.14	 “Clinical Study Completed” shall mean upon the completion of submission and acceptance of a
clinical study report (CSR) concerning the applicable clinical study phase. 

  

	 	1.15	 “Confidential Information” shall mean all information and data, of a confidential or
proprietary nature, which is obtained directly or indirectly by one Party (the “Receiving Party”) or its Affiliates, from the other Party (the “Disclosing Party”) or its Affiliates at any time before, on, or after
the Effective Date, without regard to the form or manner in which such information is disclosed or obtained (including information disclosed orally or in documentary or electronic form or by way of model, or obtained by observation). The existence
and terms of this Agreement are Confidential Information of both Parties. BsAb Technology, BsAb Technology Improvements, ABL Bio Parental Antibody Technology and ABL Bio Parental Antibody Improvements are the Confidential Information of ABL Bio, and
ABL Bio is deemed as the Disclosing Party with respect to all BsAb Technology, BsAb Technology Improvements, ABL Bio Parental Antibody Technology and ABL Bio Parental Antibody Improvements. I-Mab Parental
Antibody Technology and I-Mab Parental Antibody Improvements are the Confidential Information of I-Mab and I-Mab is deemed as the
Disclosing Party with respect to all I-Mab Parental Antibody Technology and I-Mab Parental Antibody Improvements. BsAb Improvements are the Confidential Information of ABL Bio and I-Mab, and ABL Bio and I-Mab are deemed as the Disclosing Party with respect to all BsAb Improvements. 

  
 - 2 - 

 EXECUTION VERSION 

 
  

	 	1.16	 “Commercially Reasonable Efforts” shall mean the efforts, time, costs and resources invested
that are comparable with the efforts, time, costs and resources a similarly situated pharmaceutical company would normally invest into a proprietary development candidate or pharmaceutical product of comparable nature, value and development stage.

  

	 	1.17	 “Control” or “Controlled” shall mean, with respect to an item or right, the
possession, whether by ownership or license (in each case other than pursuant to this Agreement), by a Party of the item or right, or the ability of a Party to grant to the other Party access to or a license to or under each such item or right as
provided in this Agreement without violating any agreement or other arrangement with any Third Party. 

  

	 	1.18	 “CRO” or “CMO” shall mean a company or other business entity providing
contract research services by performing research based on orders by customers. 

  

	 	1.19	 “Debar”, “Debarred” or “Debarment” shall mean
(a) being debarred, or being subject to a pending debarment, pursuant to section 306 of the FDCA, 21 U.S.C. § 335a or similar laws outside the United States, (b) being listed by any federal and/or state agencies, excluded, debarred,
suspended or otherwise made ineligible to participate in federal or state healthcare programs or federal procurement or non-procurement programs (as that term is defined in 42 U.S.C. 1320a-7b(f) or similar laws outside the United States), or being subject to any pending process by which any such listing, exclusion, debarment, suspension or other ineligibility could occur, (c) being
disqualified by any government or regulatory agency from performing specific services, or being subject to a pending disqualification proceeding, or (d) being convicted of a criminal offense related to the provision of healthcare items or
services or being subject to any pending criminal action related to the provision of healthcare items or services. 

  

	 	1.20	 “Decision Point” shall mean any of Decision Point I, Decision Point II, Decision Point III and
Decision Point IV. 

  

	 	1.21	 “Decision Point I” shall mean immediately after the completion of final candidate selection
via in vivo efficacy test according to study protocols approved by the JC. 

  

	 	1.22	 “Decision Point II” shall mean immediately after the submission of IND Application for Phase I
Clinical Study to the Food and Drug Administration in the U.S. 

  

	 	1.23	 “Decision Point III” shall mean immediately after Phase I Clinical Study Completed in the U.S.

  

	 	1.24	 “Decision Point IV” shall mean immediately after Phase II Clinical Study Completed in the U.S.

  

	 	1.25	 “Disclosing Party” shall have the meaning as described in
Section 1.15. 

  

	 	1.26	 “Early Development” shall mean the Research and Development prior to fulfilment of Decision
Point I. 

  

	 	1.27	 “Early Development Plan” shall mean a plan for the Early Development activities to be
performed by I-Mab and ABL Bio under this Agreement as attached to this Agreement as Appendix 3 that may be amended by approval of the JC. 

 

	 	1.28	 “Early Development Report” shall mean the report provided by a Party to the other Party
summarizing the Early Development activities it has performed during the past calendar quarter. 

  
 - 3 - 

 EXECUTION VERSION 

 
  

	 	1.29	 “I-Mab Parental Antibody” shall mean the
monoclonal antibodies against PD-L1 and TIGIT, respectively, controlled by I-Mab as described in Appendix 2. 

 

	 	1.30	 “I-Mab Parental Antibody Patent Rights” shall
mean any and all Patent Rights Controlled by I-Mab during the Term that claim or cover the composition, use or manufacture of the Parental Antibodies. Such Patent Rights are listed in Appendix 2, as may
be updated from time to time. 

  

	 	1.31	 “Investigation New Drug” or “IND” shall mean a drug that has not been
approved for general use by the U.S. Food and Drug Administration or similar authority in the jurisdiction but is under investigation in clinical trials regarding its safety and effectiveness by clinical investigators and practicing physicians using
patients.  

  

	 	1.32	 “IND Application” shall mean an application for approval of a request for authorization by the
U.S. Food and Drug Administration or similar authority in the jurisdiction to administer an IND to humans. 

  

	 	1.33	 “Joint Committee” or “JC” shall have the meaning ascribed in
Section 6.1. 

  

	 	1.34	 “Know-How” shall mean all biological materials and
other tangible materials, inventions, practices, methods, protocols, formulations, knowledge, information, know-how, trade secrets, processes, assays, skills, experience, techniques and results of
experimentation and testing, which shall include without limitation all biological, chemical, pharmacological, toxicological, clinical, assay, control and manufacturing data, ideas, concepts, drawings, methods of use or application and any other
information, whether patentable or not. 

  

	 	1.35	 “Late Development” shall mean the Research and Development activities after the fulfilment of
Decision Point I prior to the fulfilment of Decision Point II. 

  

	 	1.36	 “Late Development Plan” shall mean, subject to Section 3, a plan for
the Late Development activities to be performed by either Party under this Agreement as attached to this Agreement as Appendix 4 that may be amended from time to time according to Section 6. 

 

	 	1.37	 “Late Development Report” shall mean, subject to Section 3, the
report provided by a Party to the other Party summarizing the Late Development activities it has performed during the past calendar quarter. 

  

	 	1.38	 “Laws” shall mean all laws, statutes, rules, regulations, ordinances and other pronouncements
having the effect of law of any governmental authority, including without limitation patent offices and any other local or national agency, authority court, tribunal, arbitrator, commission, inspectorate, official or other instrumentality of a
government with application within a country. 

  

	 	1.39	 “Net Receipts” shall mean (a) all payments the Parties received from their respective
Out-Licensee under the Out-License Agreement, which shall include but not be limited to upfront payments, technology access fees, milestone payments, financial development funding, commissions, royalties,
success payments as well as acquisition prices allocated to the Products, less (b) any portion of such amounts paid or payable by the Parties to their respective Out-Licensee under the Out-License Agreement that are reasonably allocable to the development, commercialization or manufacture of the Products in or for such portion of licensed territory thereunder and (c) taxes and other
governmental charges occurred in connection with the Out-License Agreement. 

  
 - 4 - 

 EXECUTION VERSION 

 
  

	 	1.40	 “Net Sales” shall mean the aggregated gross amounts invoiced by the Parties or their
respective Affiliates in respect of the gross sales of all Products under this Agreement by the Parties or their respective Affiliates to Third Parties at an arm’s length open market price less deductions actually allowed in relation to or
specifically allocated to the Products using generally accepted accounting standards for: 

  

	 	1.40.1	 Ordinary and customary quantity, trade and/or cash discounts actually granted and logistics service provider
fees paid and payable; 

  

	 	1.40.2	 Amounts repaid or credited and allowances including cash or credit, given by reason of retroactive price
reductions, or billing errors or rebates actually allowed or paid; 

  

	 	1.40.3	 Amounts refunded or credited for the Products which were rejected, spoiled, damaged, outdated or returned;

  

	 	1.40.4	 Distribution, packing, handling, freight, shipment and insurance costs in transporting the Products to
customers; and 

  

	 	1.40.5	 Taxes and other governmental charges occurred in connection with the sale of Products. 

 

	 	1.41	 “Non-Royalty Income” shall mean the portion of Net
Receipts that is not Royalty Income. 

  

	 	1.42	 “Oa” shall mean the percentage value of royalty and
non-royalty sharing ascribed to ABL Bio in Appendix 5. 

  

	 	1.43	 “Oi” shall mean the percentage value of royalty and
non-royalty sharing ascribed to I-Mab in Appendix 5. 

  

	 	1.44	 “Opt-In Notice” shall have the meaning ascribed in
Section 3.2. 

  

	 	1.45	 “Opt-In Party” shall have the meaning ascribed in
Section 4.3.2. 

  

	 	1.46	 “Opt-Out Party” shall have the meaning ascribed in
Section 4.3.2. 

  

	 	1.47	 “Out-Licensor”, “Out-License” “Out-Licensee”,
“Out-License Agreement” and “Out-License Notice” shall have the meanings ascribed in Section 3.3 and Section 4.

  

	 	1.48	 “Parental Antibody” shall mean each of ABL Bio Parental Antibody and I-Mab Parental Antibody. 

  

	 	1.49	 “Parental Antibody Improvements” shall mean any and all data, results and other Know-How, inventions and developments that constitute improvements to I-Mab Parental Antibody Technology or ABL Bio Parental Antibody Technology, whether patentable or not,
that have been identified, discovered or made by or on behalf of either Party or its Affiliates during the Term and are not specifically designed for BsAb (“I-Mab Parental Antibody
Improvements” and “ABL Bio Parental Antibody Improvements”, respectively). For the avoidance of doubt, Know-How and Patent Rights pertaining solely to the Parental Antibody itself
(but not BsAb Technology) shall be deemed a Parental Antibody Improvement, and any and all improvements to Parental Antibody Technology that are specifically designed for BsAb should be deemed BsAb. 

  
 - 5 - 

 EXECUTION VERSION 

 
  

	 	1.50	 “Parental Antibody Know-How” shall mean the Know-How Controlled by I-Mab or ABL Bio during the Term that is reasonably necessary or useful for the practice of the inventions claimed by
I-Mab or ABL Bio under its Parental Antibody Patent Rights (“I-Mab Parental Antibody Know-How” and “ABL
Bio Parental Antibody Know-How”, respectively). 

  

	 	1.51	 “Parental Antibody Technology” shall mean the Parental Antibody Patent Rights and the Parental
Antibody Know-How (“I-Mab Parental Antibody Technology” and “ABL Bio Parental Antibody Technology”, respectively).

  

	 	1.52	 “Patent Rights” shall mean all patents and patent applications including without limitation
continuations, continuations-in-part, divisions, patents of addition, utility patents, reissues, renewals, re-examinations,
requests for continued examination, registrations, patents of importation or patent term extensions thereof including Supplemental Protection Certificates (“SPCs”). 

 

	 	1.53	 “PD-L1/4-1BB
BsAb” shall mean the PD-L1 and 4-1BB bi-specific antibody that uses the PD-L1
sequence of I-Mab, and the 4-1BB sequence of ABL Bio. 

  

	 	1.54	 “PD-L1/B7H3 BsAb” shall mean the PD-L1 and B7H3 bi-specific antibody that uses the PD-L1 sequence of I-Mab, and the B7H3
sequence of ABL Bio. 

  

	 	1.55	 “PD-L1/TIGIT BsAb” shall mean the PD-L1 and TIGIT bi-specific antibody that uses the PD-L1 and TIGIT sequence of I-Mab.

  

	 	1.56	 “Product” shall mean a finished pharmaceutical formulation packaged and ready for sale
containing the BsAb. 

  

	 	1.57	 “Product Family” shall mean all Products containing the BsAb. 

 

	 	1.58	 “Project Lead” or “PL” shall have the meaning ascribed in
Section 2.3. 

  

	 	1.59	 “Receiving Party” shall have the meaning ascribed in Section 1.15.

  

	 	1.60	 “Research and Development” shall mean any research and development performed by I-Mab or ABL Bio pursuant to the Research and Development Plan. 

  

	 	1.61	 “Research and Development Plan” shall mean the Early Development Plan, the Late Development
Plan, and Clinical Development Plan. 

  

	 	1.62	 “Royalty Income” shall mean royalty payments, received by either Party or its Affiliates from
a Third Party under the terms and conditions of an Out-License Agreement, which, for the purpose of clarification, shall include payments calculated on the basis of Net Sales generated in connection with such Out-License Agreement. 

  

	 	1.63	 “Term” shall mean the period commencing on the Effective Date ending upon fulfilment of the
last payment obligation of either Party to the other Party hereunder. 

  

	 	1.64	 “Territory” shall mean the following: (1) “ABL Bio’s Territory for PD-L1/TIGIT BsAb” or “ABL Bio’s Territory for PD-L1/B7H3 BsAb” is the Republic of Korea, (2) “ABL Bio’s Territory for PD-L1/4-1BB BsAb” is the Republic of Korea and Greater China (i.e., the People’s Republic of China, Hong Kong, Macao and Taiwan), (3) “I-Mab’s Territory for PD-L1/TIGIT BsAb” or “I-Mab’s Territory for
PD-L1/B7H3 BsAb” is Greater China (i.e., the People’s Republic of China, Hong Kong, Macao and Taiwan) and (4) the “Rest of the World” is all other territories other
than the Republic of Korea and Greater China. The Parties are entitled to the exclusive rights to the development and commercialization of the Product and the Product Family in their respective Territory as specifically defined in this Agreement.

  
 - 6 - 

 EXECUTION VERSION 

 
  

	 	1.65	 “Third Party” shall mean any other entity than a Party and its Affiliates.

  

	 	1.66	 In this Agreement unless it is inconsistent with the context, a reference to a statutory provision includes a
reference to: (i) a statutory amendment, modification, substitution, consolidation or re-enactment (whether before or after Effective Date); (ii) statutory instruments or subordinate legislation or orders
made under the statutory provision; and (iii) statutory provisions of which the statutory provision is an amendment, modification, substitution, consolidation or re-enactment. Unless the context of this
Agreement otherwise requires, (i) words of one gender includes the other gender; (ii) words using the singular or plural number also include the plural or singular number respectively; (iii) the terms “hereof”,
“herein”, “hereby” and derivative or similar words refer to this entire Agreement; and (iv) the terms “Article”, “Section” and “Appendix” refer to the specified Article, Section and Appendix of
this Agreement. When this Agreement refers to a number of days, unless otherwise specified (e.g. Business Days), such number shall refer to calendar days. When this Agreement refers to a number of years and/or months, unless otherwise specified,
such number shall refer to calendar years and/or months. 

  

	2.	 Early Development 

 

	 	2.1	 The Parties have agreed to share activities according to the Early Development Plan attached hereto as
Appendix 3 up to Decision Point I. Such Early Development Plan provides the planned activities of each Party and shall be updated, if required, by mutual agreement between the Parties. 

 

	 	2.2	 All Early Development shall be performed according to the Early Development Plan by each Party (and/or its
Affiliate or permitted CRO) as assigned to it therein. In principle, the Parties agreed to share the cost and responsibility for Early Development in the Rest of the World equally with Commercially Reasonable Efforts. However, for the purpose of
administrative convenience, the Parties agree to share the costs for Early Development as follows: 

  

	 	2.2.1	 Each Party is responsible to bear their respective costs for any and all
in-house work to be performed by each Party until the production of selected candidates prior to in vivo proof of concept experiments in accordance with the roles assigned to the Party as outlined in
the Early Development Plan and Exhibit A of the Materials Transfer Agreement. 

  

	 	2.2.2	 Any and all the costs associated with the subsequent in vivo experiments, including without limitation
in vivo experiments performed by I-Mab and the permitted CRO, will be split 50%:50% between the Parties 

  

	 	(a)	 Within thirty (30) days after the end of each calendar quarter, all parties (excluding I-Mab but including all permitted CROs) shall submit to ABL Bio a reasonably detailed report setting forth the cost and expense (including both in house and external costs and expenses) incurred by such party to
perform the in vivo experiments activities. 

  

	 	(b)	 ABL Bio shall, within thirty (30) days after the receipt of such reports, prepare a consolidated report,
subject to approval by the other Party; 

  
 - 7 - 

 EXECUTION VERSION 

 
  

	 	(c)	 A Party which has borne and expended more than its share of the in vivo experiments costs shall submit
to the other Party an invoice for such exceeded amount so that the total cost can be borne by the Parties (50%:50%). The other Party shall pay such invoice within sixty (60) days after receipt. Each Party shall keep detailed books and records
of the development cost incurred by such Party to in vivo experiments activities and shall make such books and records available to the other Party for inspection and audit upon reasonable advance notice. 

 

	 	2.3	 Project Lead. Promptly after the Effective Date, the Parties will appoint a Project Lead (the
“PL”) for each project to facilitate the communication of the Early Development activities. Each Party shall appoint its respective PL within thirty (30) days after the Effective Date, and may substitute its PL, in its sole
discretion, effective upon written notice to the other Party of such change. Each Party’s PL shall be a project manager and will have appropriate expertise and ongoing familiarity with the Research and Development Plans. The PLs shall keep each
other informed of all details of the activities under the Early Development Plan and the Late Development Plan, subject to Section 3. The PL responsibilities shall include (i) scheduling meetings, including the JC;
(ii) setting the agenda for such meetings with solicited input from other members, including the JC. 

  

	 	2.4	 Each Party shall provide the other Party with disclosure of any invention made by that Party during the
Research and Development comprising BsAb Technology Improvements, BsAb Improvements, and Parental Antibody Improvements. 

  

	3.	 Late Development, Clinical Development and Options 

 

	 	3.1	 At Decision Point I and, in the event the JC decides to develop and commercialize any Product in the Rest of
the World, at each Decision Point after Decision Point I, if one Party owns more than 50% of the intellectual property rights for a particular project as determined in accordance with Appendix 5, such Party shall be the Lead Party; if neither
party owns more than 50% of the intellectual property rights for the project, the JC shall select a Party as the Lead Party within seven (7) Business Days after the completion of Decision Point I. For the avoidance of doubt, in the case
of PD-L1/TIGIT, I-Mab shall be the Lead Party, and in the case of PD-L1/4-1BB and PD-L1/B7H3, ABL Bio and I-Mab own 50% respectively and the Lead Party shall be determined by the JC within seven (7) Business Days after Decision Point I. Decisions
regarding Late Development, Clinical Development and entering into Out-License Agreement will be made in the following manner: in ABL Bio’s Territory by ABL Bio, in
I-Mab’s Territory by I-Mab, and in the Rest of the World, by the Lead Party. 

 

	 	3.2	 The Parties agree to co-develop each of the Products containing PD-L1/TIGIT, PD-L1/4-1BB and PD-L1/B7H3 up to Decision Point II and share the cost and
responsibilities equally with Commercially Reasonable Efforts in accordance with the Late Development Plan attached hereto as Appendix 4. No later than seven (7) Business Days following each Decision Point II, III or IV, either Party can
notify the other Party that it intends to share the costs of the next development work with the other Party in the Rest of the World (“Opt-In Notice”). After an Opt-In Notice from a Party, such Party shall automatically become the Lead Party if the other Party has not given a similar notice. For the avoidance of doubt, if one Party stops development work or sharing the
costs of development work, the other Party who continues development work or bears the cost of such development work shall automatically become the Lead Party. 

  
 - 8 - 

 EXECUTION VERSION 

 
  

	 	3.3	 ABL Bio in ABL Bio’s Territory, and I-Mab in I-Mab’s Territory, has the right to pursue indirect development and commercialization of the Products via an Out-License Agreement (“Out-License Agreement”) with any Third Party (“Out-Licensee”). The Party who enters into an Out-License
Agreement in its Territory shall make a commercially reasonable effort to obtain the consent of such Out-Licensee to disclose relevant information (excluding financial terms) regarding such Out-License
Agreement with the other Party after the execution. In the Rest of the World, either Party may pursue out-license opportunities, but the final decision to enter into an Out-License Agreement with any Out-Licensee to indirectly develop and commercialize the Product (“Out-License”) in any country in the Rest of the World should be made by the Lead Party (a
Party entering into an Out-License Agreement hereinafter referred to as “Out-Licensor”). Out-Licensor shall
notify the other Party of the decision (“Out-License Notice”) and, subject to consent of the Out-Licensee, provide the other Party with a complete copy
of each Out-License Agreement within thirty (30) days of the execution of such agreement, which shall not be unreasonably withheld or delayed. 

 

	 	3.4	 At Decision Point I and, if both Parties decide to co-develop the
Products in the Rest of the World, at each Decision Point after Decision Point I, according to Section 3.1, the Lead Party shall, within ninety (90) days of such decision, convene a JC meeting for and agree to an
amended Late Development Plan, the Clinical Development Plan, and the budget. 

  

	 	3.4.1	 The PLs shall continue their responsibilities according to Sections 6.4 and 2.3 during the Late
Development and the Clinical Development; 

  

	 	3.4.2	 The JC shall discuss and approve any further changes to the Late Development Plan and the Clinical Development
Plan in case of co-development and the budget proposed by the Parties; 

  

	 	3.4.3	 All Late Development and Clinical Development shall be performed according to the Late Development Plan and
Clinical Development Plan by each Party (and/or its Affiliate or permitted CMO/CRO) as assigned to it therein. Each Party shall use Commercially Reasonable Efforts to perform the Late Development and Clinical Development activities assigned to it
and shall provide Late Development Report and Clinical Development Report to the other Party. Subject to the terms of this Agreement, the Lead Party may enter into a service agreement or collaboration agreement, without the other Party’s prior
written consent, with (i) its Affiliate and (ii) any Third Party acting solely as contract manufacturer, contract research organization, distributor or wholesaler of the Party or its Affiliates. A Party who enters into a service agreement
or a collaboration agreement with its Affiliate or a Third Party shall, subject to consent of such Affiliate or Third Party, provide the other Party with a complete copy of such an Agreement within thirty (30) days of the execution of such
agreement, which shall not be unreasonably withheld or delayed. 

  

	 	3.4.4	 the Parties shall share the Late Development and Clinical Development cost as follows. 

 

	 	(a)	 Within fifteen (15) Business Days after the end of each calendar quarter, the other Party (i.e.,
the party that is not the Lead Party) shall submit to the Lead Party a reasonably detailed report, together with evidence, setting forth the cost and expense (including both in house cost and expense at an FTE rate of USD 200,000 per year and
external cost and expense) in such calendar quarter incurred by such Party to perform the Late Development or Clinical Development activities assigned to it under the Late Development Plan or Clinical Development Plan. 

  
 - 9 - 

 EXECUTION VERSION 

 
  

	 	(b)	 If there is any question in the report prepared by the other Party, the Lead Party may request the other Party
to supplement within fifteen (15) Business Days after receiving the detailed report from the other Party. Otherwise, the Lead Party shall prepare a consolidated report (summary of the cost and expense incurred by both the Lead Party and the
other Party) within fifteen (15) Business Days after receiving the detailed report from the other Party, subject to approval by the other Party. The other Party should give the Lead Party a written notice within fifteen (15) Business Days
if there is any question in such consolidated report. 

  

	 	(c)	 Upon receipt of such written notice within the required time, the Lead Party may provide a revised consolidated
report to the other Party. If the Lead Party does not receive such a written notice within the required time, the Lead Party shall invoice the other Party according to the Development Costs Sharing (Ca: Ci) as specified in Appendix 5. The
other Party shall pay such invoice within sixty (60) days after the invoice date. 

  

	 	(d)	 The total cost and expense, unless specifically approved by the JC, shall not exceed one hundred and ten
percent (110%) of the amount set forth in the budget for such Late Development activities in the Late Development Plan or Clinical Development activities in the Clinical Development Plan. 

 

	 	(e)	 Each Party shall keep detailed books and records of the development cost incurred by such Party to perform Late
Development or Clinical Development activities and shall make such books and records available to the other Party for inspection and audit upon reasonable advance notice. 

 

	 	3.5	 Immediately after the execution of this Agreement, neither Party shall develop independently from the other
Party or with any Third Party a bispecific antibody that uses the same pair of antibodies as the BsAb under this Agreement for bispecific antibody development, even if the latter bispecific antibody contains a different sequence than what was
contained in the particular BsAb. In the event that both Parties agree, by signing an amendment at any time, that such a bispecific antibody that uses such pair of antibodies under this Agreement has no drug developability, such bispecific antibody
that uses such pair of antibodies should not be limited by this Section 3.5. 

  

	 	3.6	 Each Party should share the clinical data generated during its development work with the other Party without
additional charge. Each Party should provide reasonable technical assistance regarding relevant documents, material, and technical transfer as reasonably requested by the other Party in accordance with, and at the FTE rate set forth in
Section 3.4.4. 

  
 - 10 - 

 EXECUTION VERSION 

 
  

	4.	 Out-License Income Sharing and Royalty Incoming
Sharing 

  

	 	4.1	 Out-License Right. The final decision to enter an Out-License Agreement with a Third Party in the Rest of the World should be made by the Lead Party. All other Out-License Agreements shall require the prior written consent of
the other Party, which shall not be unreasonably withheld, delayed or conditioned. A Party who enters an Out-License Agreement or Sublicense Agreement with a Third Party shall provide the other Party with a
complete copy of each Out-License Agreement within thirty (30) days of the execution of such agreement. 

  

	 	4.2	 Party’s Territory. 

 

	 	4.2.1	 When either Party or its Affiliate Out-Licenses the Products in the Party’s Territory, such Party shall
not pay the other Party royalties or out-licensing incoming sharing on Net Sales of all Products in the Party’s Territory. 

 

	 	4.3	 Rest of the World. 

In the event the JC decides to develop and commercialize the Products at any Decision Point in the Rest of the World, income sharing shall be
done in the following manner. 
  

	 	4.3.1	 Non-Royalty Income Sharing. After any Decision Point if both
Parties decide to participate in the development of a Product in any country in the Rest of the World and execute an Out-License Agreement for the country, ABL Bio shall be entitled to a share (Oa) of the Non-Royalty Income, and I-Mab shall be entitled to a share of (Oi) of the Non-Royalty Income as specified in Appendix 5;

  

	 	4.3.2	 Non-Royalty Income Sharing Adjustment in case of Opt-Out. After any Decision Point except Decision Point I, if a Party (“Opt-Out Party”) decides not to participate in the development of the Product(s) in the Rest of the World and the
other Party (“Opt-In Party”) executes an Out-License Agreement in the Rest of the World, the Opt-In Party shall pay to the Opt-Out Party a percentage of the Out-License income, which percentage shall equal to [X/(X+Y*1.5)] where, 

 

	 	(a)	 X is the total amount actually incurred (either paid or shared) by the
Opt-Out Party to develop the Product under this Agreement before discontinuing the participation; and 

  

	 	(b)	 Y is the total amount actually incurred (either paid or shared) by the
Opt-In Party to develop the Product under this Agreement before the execution of such Out-License Agreement; 

 

	 	4.3.3	 Royalty Income Sharing. After any Decision Point if both Parties decide to participate in the
development of a Product in any country in the Rest of the World and execute an Out-License Agreement for the country, ABL Bio shall be entitled to a share (Oa) of the Royalty Income, and I-Mab shall be entitled to a share of (Oi) of the Royalty Income as specified in Appendix 5. 

  

	 	4.3.4	 Royalty Income Sharing Adjustment in case of Opt-Out. After any
Decision Point except Decision Point I, if a Party decides not to participate in the development of the Product(s) in the Rest of the World and the other Party executes an Out-License Agreement in the Rest of
the World, the Opt-In Party shall pay to the Opt-Out Party a minimal percentage of the Royalty Income as follows: when I-Mab or
its Affiliate out-licenses the Products in the Rest of the World, I-Mab shall pay ABL Bio a percentage of the royalties, which percentage shall be no less than 5%*Oa;
when ABL Bio or its Affiliate Out-Licenses the Products in the Rest of the World, ABL Bio shall pay I-Mab a percentage of the royalties, which percentage shall be no less than 5%*Oi as specified in Appendix
5. 

  
 - 11 - 

 EXECUTION VERSION 

 
 Example: If ABL Bio decides not to participate in the development of
the Product(s) for PD-L1/TIGIT BsAb after any Decision Point except Decision Point I, and I-Mab Out-Licenses the Product(s) to a Third Party with 10% royalty in any
country in the Rest of World, then I-Mab shall pay ABL Bio 1.5% (= 5%*Oa) of the Royalty Income. 
  

	5.	 Payments 

 

	 	5.1	 The payments under Section 4 above are expressly stated as exclusive of Value Added
Tax or equivalent sales tax applicable (“VAT”). If VAT is or may become lawfully payable or chargeable in respect of a payment, then the Party receiving such Payment will promptly provide a valid VAT invoice to the Party making such
Payment. If the VAT charged to and paid by the Party making such Payment is subsequently refunded by any relevant fiscal authority having oversight of either Party, then such refund shall be promptly forwarded to the Party who paid for the VAT with
a valid VAT credit note. At the request of the other Party, either Party shall give the other Party the assistance as may be required by the relevant tax authority, to claim exemption from or reduction of the VAT. 

 

	 	5.2	 If any withholding tax applies to any amount due to either Party under this Agreement, such amount of
withholding tax due will be deducted from the amount to be paid to either Party and paid to the appropriate tax authorities in a timely manner. At the request of the other Party, either Party shall give the other Party the assistance as may be
required by the relevant tax authority, to claim exemption from or reduction of such withholding tax imposed on the amount. The other Party will provide either Party written evidence of its payment of any such withholding tax. 

 

	 	5.3	 Parties and their respective Affiliates shall keep complete and accurate books and records used in the
determination of all Net Sales, payments and deliveries of the Products to Third Parties for a period of ten (10) years. Either Party shall, not more than once a calendar year, have the right to appoint an independent certified public
accountant or like person (the “Auditor”) reasonably acceptable to the other Party, to perform an audit at the other Party’s site upon at least ten (10) Business Days’ prior written notice and within normal business
hours. The other Party shall provide all books and records necessary for the Auditor to determine Net Sales, payments and deliveries under this Agreement. The cost of such audit shall not be borne by the other Party, except for the event that the
audit results determine a shortfall of reported Net Sales greater than two percent (2%). 

  

	 	5.4	 The other Party shall adhere to the payment terms described in Section 4. An interest
of 0.1% per day shall accrue on the total amount of late payment from the day when the corresponding payment becomes due and payable. 

  

	 	5.5	 The Party shall make all the payments to the other party under this Agreement in US Dollar (USD),
including, but not limited to, Net Sales and Net Receipts in currencies other than USD shall be converted into USD using the average of the respective exchange rate as published by Bloomberg for the respective quarter. All the payments will be made
without deduction of exchange, collection or other charges. 

  
 - 12 - 

 EXECUTION VERSION 

 
  

	6.	 Contract Governance 

 

	 	6.1	 Joint Committee. Promptly after the Effective Date the Parties will establish a joint committee to
facilitate the performance and oversight of the Research and Development Plan (the “JC”). The JC will be comprised of an equal number of representatives from either Party, at least two (2) named representatives of I-Mab and at least two (2) named representatives of ABL Bio. Each Party shall appoint its respective representatives to the JC within thirty (30) days after the Effective Date, and may substitute one or
more of its representatives, in its sole discretion, effective upon notice to the other Party of such change. Each Party shall have a JC representative who is a senior employee (Vice President level or above), and each JC representative will have
appropriate expertise and ongoing familiarity with the Research and Development Plans. Additional representatives may from time to time, by mutual consent of the Parties, be invited to attend JC meetings, subject to such representatives’
written agreement to comply with the requirements of Section 8. All proceedings for the JC shall take place in English. Each Party shall bear its own expenses relating to attendance at such meetings by its representatives.

  

	 	6.2	 Meetings. The JC shall meet in accordance with a schedule established by agreement of the Parties, but
no less frequently than once per calendar quarter, with the location for such meetings alternating between I-Mab and ABL Bio facilities (or such other locations as are determined by the JC). Alternatively, the
JC may meet by means of teleconference, videoconference or other similar communications equipment, but at least one meeting per year shall be conducted in person. Each Party shall nominate a chairperson (each, a “JC Chairperson”)
with equal voting rights on each decision. 

  

	 	6.3	 JC Responsibilities. The JC shall (i) monitor progress under the Research and Development Plans,
review relevant data and share information on progress of the Research and Development with the Parties, (ii) review and approve any proposed updates to the Early Development Plan and, subject to Section 3, the Late
Development Plan and Clinical Development Plan, (iii) discuss and consult regarding any technical or scientific difficulties encountered under a Research and Development Plan, (iv) perform such other activities as the Parties agree in
writing shall be the responsibility of the JC, (v) decide which Product to develop and commercialize, (vi) review and approve amended Research and Development Plan and the budget, and (vii) select a Party as the Lead Party of each
project in the Rest of the World within seven (7) Business Days after the completion of Decision Point I. For avoid of the doubt, the Lead Party may be changed at any Decision Point by vote in JC or the consent of the Parties.

  

	 	6.4	 The PL shall be responsible for (i) scheduling meetings at least once per calendar quarter, but more
frequently as the JC determines it necessary; (ii) setting agenda for meetings with solicited input from other members; (iii) confirming and delivering minutes to the JC for review and final approval; and (iv) conducting effective
meetings, including ensuring that objectives for each meeting are set and achieved. Each Party will provide the members of the JC with written copies of all materials they intend to present at a JC meeting. In the absence of a PL, the tasks assigned
to the PL in this Section 6.4 shall be assigned to the JC Chairperson. 

  

	 	6.5	 All decisions of the JC shall be made by consensus, with each Party having collectively one (1) vote in
all decisions. If after reasonable discussion and good faith consideration of both Party’s views on a particular matter before the JC, the JC is still unable after a period of ten (10) days to reach a unanimous decision on such matter,
then either Party may, by written notice to the other, have such matter referred to the CEOs of the Parties for resolution. If the CEOs are able to resolve such matter within the thirty (30) day period, then: (a) with respect to the Early
Development Plan, the status quo (including the existing budget) shall persist until the Parties reach agreement with respect to any amendment thereto; and (b) I-Mab in
I-Mab’s Territory, ABL Bio in ABL Bio’s Territory, and the developing Party(ies) in the Rest of the World shall have the right to approve amendments to the Late Development Plan and Clinical
Development Plan. 

  
 - 13 - 

 EXECUTION VERSION 

 
  

	7.	 Diligence and Reports 

 

	 	7.1	 Each Party agrees to maintain proper records (the “Records”) in respect of its performance of
the Research and Development, including the procedures, techniques and methodologies used, the progress made, and any inventions conceived and/or reduced to practice or otherwise made as part of the Research and Development. In order to file,
prosecute and defend and Patent Rights claiming any BsAb Improvement, BsAb Technology Improvement, or Parental Antibody Improvement, each Party shall upon request of the other Party, which shall not be unreasonably made, (a) make the Records
available to the other Party or its designee for inspection; and (b) provide copies of the Records or any part(s) thereof to the other Party or its designee. As part of keeping the Records, each Party shall ensure that all of its personnel and
all of its agents that are involved in the Research and Development will keep accurate laboratory notebooks, that: (i) shall be duly signed, dated and witnessed; and (ii) shall be created and maintained in accordance with its standard
operating procedures that would be sufficient to allow for said laboratory notebooks to be used in any proceedings before the relevant governmental authorities in the relevant Territory, in order to establish the date of invention for any inventions
in according with the patent Laws applicable in the relevant Territory. 

  

	 	7.2	 Each calendar quarter until expiration of the royalty payment or income sharing obligation under
Section 4, each Party shall provide to the other Party reports as follows: 

  

	 	7.2.1	 Each Party shall provide to the other Party an Early Development Report within thirty (30) days after the
end of each calendar quarter during Early Development including all the results obtained in the past calendar quarter (including without limitation all raw data). 

 

	 	7.2.2	 Regardless of whether a Party participates in Late Development or Clinical Development, each Party shall
provide to the other Party a Late Development Report or Clinical Development Report within thirty (30) days after the end of each calendar quarter during Late Development or Clinical Development including all the results obtained in the past
calendar quarter (including without limitation all raw data). 

  

	 	7.2.3	 Upon and after the launching of the Product or Product Family, I-Mab
and ABL Bio shall provide a biannual report to each other providing a high-level overview of all material commercial activities in the respective territories for the Product within thirty (30) days after the end of each six-month period. 

  

	8.	 Confidentiality Obligations 

 

	 	8.1	 In consideration of disclosure of Confidential Information by the Disclosing Party, the Receiving Party
undertakes: 

  

	 	8.1.1	 to keep the Confidential Information secret and confidential at all times; 

 

	 	8.1.2	 not to disclose or permit the disclosure of any Confidential Information of the Disclosing Party, in whole, in
part, or in summary, to any person, except as expressly permitted by this Agreement; 

  
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 EXECUTION VERSION 

 
  

	 	8.1.3	 not to use the Confidential Information of the Disclosing Party or permit it to be used, in whole or in part,
for any purpose other than the performance of its obligations or exercise of its rights under this Agreement; 

  

	 	8.1.4	 to take all proper and reasonable measures to ensure the confidentiality of the Confidential Information of the
Disclosing Party, including but not limited to applying the same security measures and degree of care to such Confidential Information as the Receiving Party applies to its own confidential information; and 

 

	 	8.1.5	 to inform the Disclosing Party immediately if it becomes aware of the possession, use or knowledge of any of
the Confidential Information of the Disclosing Party by an unauthorised person, and to provide any assistance in relation to such unauthorised possession, use or knowledge that the Disclosing Party may reasonably require. 

 

	 	8.2	 Exceptions to Confidentiality Obligations 

 

	 	8.2.1	 The Receiving Party’s obligations of confidentiality and non-use
under this Agreement shall not apply to any Confidential Information of the Disclosing Party that the Receiving Party can prove by means of reasonable written evidence: 

 

	 	(a)	 was known to the Receiving Party on a non-confidential basis prior to
disclosure by the Disclosing Party; or 

  

	 	(b)	 is or becomes publicly known other than as a result of breach of this Agreement by the Receiving Party or by
anyone to whom the Receiving Party disclosed the Confidential Information of the Disclosing Party; or 

  

	 	(c)	 is received by the Receiving Party without restriction on disclosure or use from a Third Party lawfully
entitled to make the disclosure without such restrictions; or 

  

	 	(d)	 is developed by any of the Receiving Party’s or its Affiliate’s directors, employees, consultants,
advisors or agents (collectively, “Representatives”) who have not had any direct or indirect access to, or use or knowledge of, the Confidential Information of the Disclosing Party; 

except that the above exceptions do not extend to circumstances where the Confidential Information is (i) specific, does not fall within
the above exceptions, and is embraced by more general information which does fall within the above exceptions or (ii) a combination of information in the public domain separated across multiple sources. 

 

	 	8.2.2	 The Receiving Party will not be in breach of its obligations under this Agreement to the extent that it is
required to disclose Confidential Information of the Disclosing Party by law (provided, in the case of a disclosure under any freedom of information legislation, that the exemptions under that legislation do not apply) or order of a court or other
public body that has jurisdiction over it, provided that, before making such a disclosure, the Receiving Party shall, to the extent it is legally permitted to do so: 

 

	 	(a)	 inform the Disclosing Party of the proposed disclosure as soon as possible, and if possible before the court or
other public body orders the disclosure; 

  
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 EXECUTION VERSION 

 
  

	 	(b)	 take into account reasonable requests of the Disclosing Party in relation to such disclosure;

  

	 	(c)	 ask the court or other public body to treat such Confidential Information as confidential; and

  

	 	(d)	 permit the Disclosing Party to make representations to the court or other public body in respect of the
disclosure and/or confidential treatment of such Confidential Information. 

  

	 	8.3	 Disclosure to Representatives 

 

	 	8.3.1	 The Receiving Party shall permit access to the Confidential Information of the Disclosing Party only to those
of its representatives who: 

  

	 	(a)	 reasonably require such access for performing its obligations or exercising its rights under this Agreement;

  

	 	(b)	 have been informed of the confidential nature of such Confidential Information, the Disclosing Party’s
interest in such Confidential Information, and the provisions of this Agreement, and have been instructed to comply with this Agreement; and 

  

	 	(c)	 have entered into legally binding confidentiality obligations to the Receiving Party on terms that are no less
onerous than those set out in this Agreement, and which extend to such Confidential Information. 

  

	 	8.3.2	 The Receiving Party shall ensure that all those representatives who have access to the Confidential Information
of the Disclosing Party comply with the provisions of this Agreement, and the Receiving Party shall be liable to the Disclosing Party for any breach of this Agreement by the Receiving Party’s Representatives. 

 

	 	8.4	 Upon expiration or termination of this Agreement, 

 

	 	8.4.1	 At the Disclosing Party’s written request, the Receiving Party shall; 

 

	 	(a)	 immediately return to the Disclosing Party (or, if the Disclosing Party so requests, destroy or erase) all
Confidential Information of the Disclosing Party that the Receiving Party has received under this Agreement including any copies made and permanently delete all electronic copies of any such Confidential Information from the Receiving Party’s
computer systems; 

  

	 	(b)	 provide to the Disclosing Party a certificate, signed by an officer of the Receiving Party, confirming that the
obligations in this Section 8.4 have been complied with; and 

  

	 	(c)	 make no further use of any such Confidential Information. 

  
 - 16 - 

 EXECUTION VERSION 

 
 The Receiving Party may, however, keep one copy of the Confidential
Information of the Disclosing Party in its legal advisor’s files solely for the purpose of enabling it to comply with the provisions of this Agreement. 
  

	 	8.5	 As between the parties, except as otherwise expressly set forth in this Agreement: 

 

	 	8.5.1	 the Confidential Information of the Disclosing Party is proprietary to the Disclosing Party and the Disclosing
Party reserves all rights in such Confidential Information; 

  

	 	8.5.2	 the Disclosing Party is the sole owner of all property rights in tangible records of the Confidential
Information of the Disclosing Party; and 

  

	 	8.5.3	 the Disclosing Party is and shall remain the sole owner of all intellectual property rights in the Confidential
Information of the Disclosing Party. 

  

	 	8.6	 No rights in respect of the Confidential Information of the Disclosing Party are granted to the Receiving
Party, other than to use it in accordance with the terms of this Agreement, and no obligations are imposed on the Disclosing Party other than those expressly stated in this Agreement. In particular, nothing in this Agreement shall be construed or
implied as obliging the Disclosing Party to disclose any specific type of information under this agreement, whether Confidential Information or not. 

  

	 	8.7	 The Receiving Party agrees that any breach of its obligations of confidentiality and non-use under this Agreement will cause irreparable harm to the Disclosing Party; therefore, the Disclosing Party shall have, in addition to any remedies available at law, the right to obtain equitable relief to
enforce this Agreement. 

  

	 	8.8	 The confidentiality obligations under this Section shall, notwithstanding any termination of discussions
between the Parties, continue in force for a period of seven (7) years after the expiration or termination of this Agreement. Notwithstanding the foregoing, the non-disclosure and non-use obligations imposed by this Agreement with respect to trade secrets included in the Confidential Information of a Party will continue for as long as such Party continues to treat such Confidential
Information as a trade secret. 

  

	 	8.9	 The Parties agree to make a joint press release according to Appendix 6 of this Agreement. Regarding any
other information not expressly contained in such joint press release, except for disclosure required by applicable laws, neither Party shall make, or permit any person to make, any public announcement concerning this Agreement without the prior
written consent of the other Party (such consent not to be unreasonably withheld or delayed). 

  

	9.	 Representation and Warranties 

 

	 	9.1	 Each Party represents and warrants to the other Party that as of the Effective Date: 

 

	 	9.1.1	 Such Party (i) is a company duly organized, validly existing and in good standing under the Laws of the
jurisdiction of its organization; (ii) has the requisite corporate power and authority and the legal right to conduct its business as now conducted and hereafter contemplated to be conducted; and (iii) has or will obtain all necessary
licenses, permits, consents, or approvals from or by, and has made or will make all necessary notices to, all governmental authorities having jurisdiction over such Party, required for the performance of this Agreement. 

  
 - 17 - 

 EXECUTION VERSION 

 
  

	 	9.1.2	 The execution, delivery and performance of this Agreement by such Party (i) are within the corporate power
of such Party; (ii) have been duly authorized by all necessary or proper corporate action; (iii) do not conflict with any provision of the organizational documents of such Party; (iv) will not, to the best of such Party’s
knowledge, violate any Laws or any order or decree of any court or governmental authority; and (v) will not violate or conflict with any terms of any indenture, mortgage, deed of trust, lease, agreement or other instrument to which such Party
is a party, or by which such Party is bound; 

  

	 	9.1.3	 This Agreement has been duly executed and delivered by such Party and constitutes a legal, valid and binding
obligation of such Party, enforceable against such Party in accordance with its terms, subject to bankruptcy, insolvency, reorganization, arrangement, winding-up, moratorium, and similar laws of general
application affecting the enforcement of creditors’ rights generally, and subject to general equitable principles, including the fact that the availability of equitable remedies, such as injunctive relief or specific performance, is in the
discretion of the court. 

  

	 	9.2	 Each Party represents, warrants and covenants that neither it nor any of its Affiliates has been Debarred or is
subject to Debarment and neither it nor any of its Affiliates will use in any capacity, in connection with the Research and Development, any person or entity who has been Debarred. Each Party agrees to inform the other Party in writing immediately
if it or any person or entity who is performing Research and Development under this Agreement is Debarred, or if any action, suit, claim, investigation or legal or administrative proceeding is pending or, to such Party’s knowledge, is
threatened, relating to the Debarment of such Party or any person or entity used in any capacity by such Party or any of its Affiliates in connection with the Research and Development. 

 

	 	9.3	 ABL Bio represents and warrants to I-Mab that as of the Effective Date,
ABL Bio is the lawful owner of all right, title and interest in and to the BsAb Technology, the ABL Bio Parental Antibody Patent Rights and ABL Bio Parental Antibody Know-How. As of the Effective Date, ABL Bio
has no knowledge of any claim made against it (x) asserting the invalidity, misuse, unregisterability or unenforceability of any of the BsAb Technology and the ABL Bio Parental Antibody Patent Rights or (y) challenging ABL Bio’s
Control of BsAb Technology, ABL Bio Parental Antibody Patent Rights or ABL Bio Parental Antibody Know-How or making any adverse claim of ownership of BsAb Technology, ABL Bio Parental Antibody Patent Rights or
ABL Bio Parental Antibody Know-How. 

  

	 	9.4	 I-Mab represents and warrants to ABL Bio that as of the Effective Date,
I-Mab is the lawful owner of all right, title and interest in and to the I-Mab Parental Antibody Patent Rights and I-Mab Parental
Antibody Know-How. As of the Effective Date, I-Mab has no knowledge of any claim made against it (x) asserting the invalidity, misuse, unregisterability or
unenforceability of any of the I-Mab Parental Antibody Patent Rights or (y) challenging I-Mab’s Control of I-Mab
Parental Antibody Patent Rights or I-Mab Parental Antibody Know-How or making any adverse claim of ownership of the I-Mab
Parental Antibody Patent Rights or I-Mab Parental Antibody Know-How. 

  

	 	9.5	 THE EXPRESS REPRESENTATIONS AND WARRANTIES OF THE PARTIES STATED IN THIS SECTION 9 ARE IN LIEU OF ALL OTHER
REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR
NON-MISAPPROPRIATION OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS. 

  
 - 18 - 

 EXECUTION VERSION 

 
  

	10.	 Indemnification 

 

	 	10.1	 Subject to the other provisions of this Section, ABL Bio shall defend, indemnify and hold harmless I-Mab, its Affiliates, and each of their officers, directors, shareholders, employees, successors and assigns from and against all Third Parties claims, suites, losses, liabilities, damages, costs, fees and expenses
(including reasonable attorney’s fee), to the extent arising out of (i) ABL Bio’s negligence or willful misconduct in performing any of its obligations under this Agreement, or (ii) breach by ABL Bio of any of its
representations, warranties, covenants or agreements under this Agreement, except in each case to the extent such claims arise from a matter for which I-Mab is obligated to indemnify ABL Bio under
Section 10.2. 

  

	 	10.2	 Subject to the other provisions of this Section, I-Mab shall defend,
indemnify and hold harmless ABL Bio, its Affiliates, and each of their officers, directors, shareholders, employees, successors and assigns from and against all Third Parties claims, suites, losses, liabilities, damages, costs, fees and expenses
(including reasonable attorney’s fee), to the extent arising out of (i) I-Mab’s negligence or willful misconduct in performing any of its obligations under this Agreement, or (ii) breach by
I-Mab of any of its representations, warranties, covenants or agreements under this Agreement, except in each case to the extent such claims arise from a matter for which ABL Bio is obligated to indemnify I-Mab under Section 10.1. 

  

	 	10.3	 Each Party (“Indemnified Party”) will promptly notify the other Party (“Indemnifying
Party”) in writing if it becomes aware of a claim (actual or potential) by any Third Party or any proceeding (including any investigation by a governmental authority) (“Third Party Claim”) for which indemnification may be
sought and will give such related information as the Indemnifying Party shall reasonably request. 

  

	 	10.4	 To be eligible to be indemnified hereunder, the Indemnified Party will provide the Indemnifying Party with
prompt notice of the claim giving rise to the indemnification obligation pursuant to this Section 10.4 and the exclusive ability to defend (with the reasonable cooperation of the Indemnified Party) or settle any such claim;
provided, however, that the Indemnifying Party will not enter into any settlement for damages other than monetary damages without the Indemnified Party’s written consent, such consent not to be unreasonably withheld. The
Indemnified Party has the right to participate, at its own expense and with counsel of its choice, in the defense of any claim or suit that has been assumed by the Indemnifying Party. If the Parties cannot agree as to the application of Sections
10.1 and 10.2 to any particular Third Party Claim, the Parties may conduct separate defenses of such Third Party Claim. Each Party reserves the right to claim indemnity from the other in accordance with Sections 10.1 and
10.2 above upon resolution of the underlying claim, notwithstanding the provisions of this Section 10.4 requiring the Indemnified Party to tender to the Indemnifying Party the exclusive ability to defend such claim
or suit. 

  

	 	10.5	 NEITHER PARTY WILL BE LIABLE UNDER ANY LEGAL THEORY (WHETHER TORT, CONTRACT OR OTHERWISE) FOR SPECIAL,
INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH
DAMAGES, EXCEPT AS A RESULT OF A MATERIAL BREACH OF THE CONFIDENTIALITY AND NON-USE OBLIGATIONS IN SECTION 8. NOTHING IN THIS SECTION 10.5 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR
OBLIGATIONS OF EITHER PARTY. 

  
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 EXECUTION VERSION 

 
  

	11.	 Intellectual Property Rights, BsAb Technology and BsAb Improvements, Parental Antibody Technology and
Parental Antibody Improvements. 

  

	 	11.1	 Each Party shall have and retain sole and exclusive title to their respective intellectual property rights. For
avoidance of doubt, as between the Parties, ABL Bio shall own and retain all rights to the BsAb Technology (including BsAb Technology Improvements) and ABL Bio Parental Antibody Technology (including ABL Bio Parental Antibody Improvements), and I-Mab shall retain all rights to I-Mab Parental Antibody Technology (including I-Mab Parental Antibody Improvements). ABL Bio grants I-Mab right to exploit (including right to grant sub-license for the purpose of Out-License) the intellectual property rights in the
BsAb Technology (including BsAb Technology Improvements) and ABL Bio Parental Antibody Technology (including ABL Bio Parental Antibody Improvements) within the scope of this Agreement, and I-Mab grants ABL Bio
right to exploit (including right to grant sub-license for the purpose of Out-License) the intellectual property rights in I-Mab
Parental Antibody Technology (including I-Mab Parental Antibody Improvements) within the scope of this Agreement. 

  

	 	11.2	 All BsAb Improvements shall be (i) jointly owned by ABL Bio and
I-Mab (Oa: Oi) in the Rest of World as specified in Appendix 5; (ii) owned solely by ABL Bio in ABL Bio’s Territory; and (iii) owned solely by I-Mab in I-Mab’s Territory. The Parties will coordinate the preparation, filing, prosecution and maintenance of any patents covering any BsAb Improvement. All costs and expenses in relation to the prosecution,
settlement and compensation shall be (i) shared by ABL Bio and I-Mab (Oa: Oi) in the Rest of World as specified in Appendix 5; (ii) solely born by ABL Bio in ABL Bio’s Territory; and
(iii) solely born by I-Mab in I-Mab’s Territory. 

  

	 	11.3	 As between the Parties, all BsAb Technology (including BsAb Technology Improvements) and ABL Bio Parental
Antibody (including ABL Bio Parental Antibody Improvements) shall be solely owned by ABL Bio. As between the Parties, ABL Bio has the sole right for the preparation, filing, and maintenance of any patents covering any BsAb Technology (including BsAb
Technology Improvements) and ABL Bio Parental Antibody (including ABL Bio Parental Antibody Improvements). All costs and expenses incurred relation to the preparation, filing, and maintenance shall be solely born by ABL Bio. 

 

	 	11.4	 All I-Mab Parental Antibody (including
I-Mab Parental Antibody Improvements) shall be solely owned by I-Mab. I-Mab has the sole right for the preparation, filing, and
maintenance of any patents covering I-Mab Parental Antibody (including I-Mab Parental Antibody Improvements). All costs and expenses incurred relation to the
preparation, filing, and maintenance shall be solely born by I-Mab. 

  

	 	11.5	 During and after the Term, I-Mab will, and will cause its Affiliates
and representatives to, (i) cooperate fully in obtaining patent and other proprietary protection for any patentable or protectable BsAb Technology Improvements and ABL Bio Parental Antibody Improvements, all in the name of ABL Bio and at ABL
Bio’s cost and expense; and (ii) execute and deliver all requested applications, assignments and other documents, and take such other measures as ABL Bio reasonably requests, in order to perfect and enforce ABL Bio’s rights in BsAb
Technology Improvements and ABL Bio Parental Antibody Improvements. I-Mab appoints ABL Bio as its attorney to execute and deliver any such documents on behalf of I-Mab
and its Affiliates and representatives in the event I-Mab, its Affiliates or its representatives fail to do so. 

  
 - 20 - 

 EXECUTION VERSION 

 
  

	 	11.6	 During and after the Term, ABL Bio will, and will cause its Affiliates and representatives to,
(i) cooperate fully in obtaining patents and other proprietary protections for any patentable or protectable I-Mab Parental Antibody Improvements, all in the name of
I-Mab and at I-Mab’s cost and expense; and (ii) execute and deliver all requested applications, assignments and other documents, and take such other measures
as I-Mab reasonably requests, in order to perfect and enforce I-Mab’s rights in I-Mab Parental Antibody Improvements. ABL
Bio appoints I-Mab as its attorney to execute and deliver any such documents on behalf of ABL Bio and its Affiliates and representatives in the event ABL Bio, its Affiliates or its representatives fail to do
so. 

  

	 	11.7	 Each Party shall be responsible for the maintenance of its own intellectual property rights during the Term of
this Agreement. 

  

	 	11.8	 In the event of the institution of any suit by a Third Party against a Party or its Affiliates for Patent Right
infringements involving the registration, development, manufacture, use, sale, distribution, or marketing of the Products, the Party being sued shall promptly inform the other Party in writing and shall take appropriate action to defend such suit at
its own expense; provided however that, if such Third Party action affects the BsAb Technology’s or ABL Bio Parental Antibody Technology’s freedom to operation, then ABL Bio shall have the first right, but not the obligation, to take over
and control the defense of such action; and if such Third Party action affects I-Mab Parental Antibody Technology’s freedom to operation, then I-Mab shall have the
first right, but not the obligation, to take over and control the defense of such action. The cost and expense sharing are pursuant to Sections 11.2, 11.3, and 11.4. ABL Bio and I-Mab
shall provide reasonable assistance to one another and reasonably cooperate in any such litigation at the other Party’s request without expense to the requesting Party. 

 

	 	11.9	 In the event I-Mab becomes aware of actual or threatened infringement
or validity attacks of BsAb Technology, ABL Bio Parental Antibody Patent Rights or ABL Bio Parental Antibody Know-How in I-Mab’s Territory, I-Mab shall promptly notify ABL Bio in writing of such actual or threatened activity or validity attacks. ABL Bio shall have the first right, but not the obligation, to bring an action against any infringement of
BsAb Technology, ABL Bio Parental Antibody Patent Rights or ABL Bio Parental Antibody Know-How. If ABL Bio elects to institute the enforcement action, it shall have full control over such enforcement action,
including settlement thereof. In any event, at ABL Bio’s request, I-Mab shall provide reasonable assistance and cooperation to ABL Bio in connection with any such proceeding, provided, however that all
reasonable third-party out of pocket costs shall be borne by ABL Bio and reimbursable to I-Mab upon written request. ABL Bio shall bear all of its costs and expenses of such enforcement actions and shall be
entitled to retain all monetary and non-monetary recoveries or settlements obtained as a result. In the event ABL Bio elects not to institute the enforcement action in accordance with this
Section 11.9, and I-Mab reasonably believes such infringement has a significant negative impact on the rights granted to its hereunder, I-Mab
shall, upon reasonable advance notice to ABL Bio, be entitled to institute enforcement actions to enjoin such infringement; provided, however, that (a) I-Mab shall keep ABL Bio informed of any such
proceedings in a timely manner, and (b) the settlement of any such proceedings instituted by I-Mab shall be subject to ABL Bio’s prior written approval, which shall not be unreasonably withheld or
delayed. ABL Bio shall use its best and good faith efforts to assist and cooperate with I-Mab and provide I-Mab with such assistance and information as may be reasonably
requested by I-Mab in respect of any such action; provided, however, that all reasonable third-party out of pocket costs with respect to such enforcement action shall be borne by
I-Mab and reimbursable to ABL Bio. I-Mab shall bear all of its costs and expenses of such enforcement actions and shall be entitled to retain all monetary and non-monetary recoveries or settlements obtained as a result. 

  
 - 21 - 

 EXECUTION VERSION 

 
  

	 	11.10	 In the event ABL Bio becomes aware of actual or threatened infringement or validity attacks of I-Mab Parental Antibody Patent Right or I-Mab Parental Antibody Know-How in ABL Bio’s Territory, ABL Bio shall promptly notify I-Mab in writing of such actual or threatened activity or validity attacks. I-Mab shall have the first right, but not the obligation, to bring an action against any
infringement of I-Mab Parental Antibody Patent Right or I-Mab Parental Antibody Know-How. If
I-Mab elects to institute the enforcement action, it shall have full control over such enforcement action, including settlement thereof. In any event, at I-Mab’s
request, ABL Bio shall provide reasonable assistance and cooperation to I-Mab in connection with any such proceeding , provided, however that all reasonable third-party out of pocket costs shall be borne by I-Mab and reimbursable to ABL Bio upon written request. I-Mab shall bear all of its costs and expenses of such enforcement actions and shall be entitled to retain all monetary
and non-monetary recoveries or settlements obtained as a result. In the event that I-Mab elects not to institute the enforcement action in accordance with this
Section 11.10, and ABL Bio reasonably believes such infringement has a material negative impact on the rights granted to it hereunder, ABL Bio shall, upon reasonable advance notice to
I-Mab, be entitled to institute enforcement actions to enjoin such infringement in its own right upon reasonable advance notice to I-Mab; provided, however, that
(a) ABL Bio shall keep I-Mab informed of any such proceedings in a timely manner, and (b) the settlement of any such proceedings instituted by ABL Bio shall be subject to I-Mab’s prior written approval, which shall not be unreasonably withheld or delayed. I-Mab shall use its best and good faith efforts to assist and cooperate with ABL Bio
and provide ABL Bio with such assistance and information as may be reasonably requested by ABL Bio in respect of any such action; provided, however, that all reasonable third-party out of pocket costs with respect to such enforcement action shall be
borne by ABL Bio and reimbursable to I-Mab. ABL Bio shall bear all of its costs and expenses of such enforcement actions and shall be entitled to retain all monetary and
non-monetary recoveries or settlements obtained as a result. 

  

	 	11.11	 The Parties shall keep another informed of the status of their respective activities regarding any litigation
or settlement thereof concerning the Products. 

  

	 	11.12	 The Parties shall coordinate with each other for the assign, transfer, license or grant any of its rights in
BsAb Improvements in the Rest of the World. Neither party shall assign, transfer, license or grant any of its rights in BsAb Improvements in the Rest of the World to a third party without the consent of the other Party, such consent shall not be
unreasonably withheld. 

  

	12.	 Termination 

 

	 	12.1	 This Agreement shall continue for the Term, if not terminated earlier as described in this
Section 12. 

  

	 	12.2	 Either Party (the “Non-Breaching Party”) may, without
prejudice to any other remedies available to it at law or in equity, terminate this Agreement in its entirety in the event the other Party (the “Breaching Party”) has materially breached or defaulted in the performance of any of its
obligations hereunder and such default has continued for sixty (60) days after written notice thereof was provided to the Breaching Party by the Non-Breaching Party. Any such termination will become
effective at the end of such 60-day period unless the Breaching Party has cured any such breach or default prior to the expiration of such 60-day period. Notwithstanding
the foregoing, in the event and to the extent that any such breach is a payment breach, the applicable notice and cure period as provided above will be ten (10) Business Days. 

  
 - 22 - 

 EXECUTION VERSION 

 
  

	 	12.3	 In the event that: 

  

	 	12.3.1	 I-Mab or any of its Affiliates (the “ABL Bio Challenging
Party”) (i) commence or participate in any action or proceeding (including any patent opposition or re-examination proceeding), or otherwise assert in writing any claim, challenging or denying the
validity of any of the BsAb Technology or ABL Bio Parental Antibody Patent Rights (each a “ABL Bio Technology Challenge”) or (ii) actively assist any other person or entity in bringing or prosecuting any ABL Bio
Technology Challenge, then ABL Bio has the right to terminate this Agreement immediately by giving notice to the ABL Bio Challenging Party (and, if the ABL Bio Challenging Party is not I-Mab, to give such
notice to I-Mab as well). 

  

	 	12.3.2	 ABL Bio or any of its Affiliates (the “I-Mab Challenging
Party”) (i) commence or participate in any action or proceeding (including any patent opposition or re-examination proceeding), or otherwise assert in writing any claim, challenging or denying the
validity of any of the I-Mab Parental Antibody Patent Rights, or any claim thereof (each, a “I-Mab Patent Challenge”) or (ii) actively assist any
other person or entity in bringing or prosecuting any I-Mab Patent Challenge, then I-Mab has the right to terminate this Agreement immediately by giving notice to the I-Mab Challenging Party (and, if the I-Mab Challenging Party is not ABL Bio, to give such notice to ABL Bio as well). 

 

	 	12.4	 In the event that there is an early termination of this Agreement in accordance with Sections 12.2 or
12.3 after completion of Late Development and either Party continues the further development and commercialization of the Products in any Territory, the Party continuing the development and commercialization of the Product shall continue to
be obliged to pay to the other Party the royalty and the Out-License income sharing as described under Section 4 of this Agreement, provided that such rights have accrued hereunder
prior to the effective date of such termination. 

  

	 	12.5	 The following provisions will survive any expiration or termination of this Agreement for the period of time
specified therein, or if not specified, then they will survive indefinitely: Sections 1, 8, 10, and 13, and Sections 5.3, 7.1, 11, 12.4, 12,5 and 12.6. Termination of this Agreement will
not relieve the Parties of any liability and/or payment obligation that accrued hereunder prior to the effective date of such termination nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity
with respect to any breach of this Agreement. The remedies provided in this are not exclusive of any other remedies a Party may have in law or equity. 

  

	 	12.6	 The Parties acknowledge and agree that in the event insurmountable technical difficulties and risk factors
(“Risk”) occurs to a Party and such Risk is not resolved by the Party within 90 days thereafter despite all reasonable efforts, the Party shall be entitled to terminate this Agreement by sending a written notice to the other Party.
After termination of this Agreement in accordance with this Section 12.6, the losses incurred to the Parties shall be borne by the Parties respectively, and the terminating Party will no longer have the right to continue
developing any Product. 

  

	13.	 Miscellaneous 

 

	 	13.1	 All disputes which arise in connection with this Agreement and its interpretation shall be settled in amicable
way between the Parties. If the dispute cannot be settled in friendly way, it will be settled by arbitration to be held in New York in conformity with the rules of International Chamber of Commerce (ICC). Such arbitration will be held in the English
language. The decision of the arbitrator will be final and binding on the Parties. 

  
 - 23 - 

 EXECUTION VERSION 

 
  

	 	13.2	 This Agreement shall be construed, and the respective rights of the Parties determined, according to the Laws
of the State of New York, without regard to its choice of law principles. 

  

	 	13.3	 In the event that any legal proceeding is brought to enforce or interpret any of the provisions of this
Agreement, the prevailing Party shall be entitled to recover its reasonable attorney fees, court costs and expenses of litigation whether or not the action or proceeding results in a final judgment. 

 

	 	13.4	 This Agreement may not be assigned or transferred by either Party, in whole or in part, whether voluntarily or
by operation of law, without the prior written consent of the other Party; provided that either Party my assign this Agreement, in whole or in part, to any of its Affiliates if such Party guarantees the performance of this Agreement by such
Affiliate; and provided further that ABL Bio and/or I-Mab may assign this Agreement to a successor to all or substantially all of its assets or business to which this Agreement relates, whether by merger, sale
of stock, sale of assets or other similar transaction. Any assignment in violation of this provision is void and without effect. This Agreement shall be binding upon and inure to the benefit of the Parties hereto, their permitted successors, legal
representatives and assigns. 

  

	 	13.5	 All notices must be in writing in English and sent to the address for the recipient set forth in this Agreement
or at such other address as the recipient may specify in writing under this procedure. 

  

			
	If to ABL Bio:	  	ABL Bio
		
		  	16, Daewangpangyo-ro 712beon-gil, Bundang-gu,
		
		  	Seongnam-si, Gyeonggi-do, 13488, Republic of Korea
		
		  	Attention:
		
		  	Email:
		
		  	Fax:
		
	with a copy to:	  	Attention: Mikyung Chang
		
		  	Email:
		
	If to I-Mab:	  	I-MAB Biopharma Co., Ltd.
		
		  	Suite 802, West Tower, OmniVision Tech Park, 88 Shangke Rd.,
		
		  	Pudong New District, Shanghai, China 201210
		
		  	Attention:
		
		  	Email:
		
		  	Fax:
		
	with a copy to:	  	Attention:
		
		  	Email:

  
 - 24 - 

 EXECUTION VERSION 

 
  

	 	13.6	 All notices must be given (a) by personal delivery, with receipt acknowledged; or (b) by prepaid
certified or registered mail, return receipt requested; or (c) by prepaid recognized express delivery service. Notices will be effective upon receipt or at a later date stated in the notice. If any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect, that provision shall be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and enforceable. 

 

	 	13.7	 The headings used in this Agreement have been inserted for convenience of reference only and not define or
limit the provisions hereof. 

  

	 	13.8	 No waiver of any term or condition of this Agreement shall be effective unless set forth in this Agreement, all
rights and remedies available to a Party, whether under this Agreement or afforded by Law or otherwise, will be cumulative and not in the alternative to any other righty or remedies that may be available to such Party. 

 

	 	13.9	 This Agreement (including the exhibits and schedules hereto) constitutes the entire agreement between the
Parties hereto with respect to the subject matter hereof and supersedes all previous agreements and understandings between the Parties with respect to such subject matter, whether written or oral, including, but not limited to all proposals,
negotiation, conversations, letters of intent, memoranda of understanding or discussions, between the Parties relating to the subject matter of this Agreement and all past dealing or industry custom. 

 

	 	13.10	 This Agreement may be altered, amended, or changed only by a writing making specific reference to this
Agreement and the clause to be modified, which amendment is signed duly by authorized representatives of ABL Bio and I-Mab. 

 

	 	13.11	 Nothing in this Agreement shall be deemed to constitute the grant of any license or other right in either
Party, to or in respect of any product, trademark, confidential information, trade secret or other data or any other intellectual property of the other Party except as expressly set forth herein. 

 

	 	13.12	 None of the provisions of this Agreement shall be for the benefit of or enforceable by any Third Party,
including, but not limited to, any creditor of either Party. 

  

	 	13.13	 This Agreement shall be deemed to have been drafted jointly by both Parties; and ambiguities, if any, shall not
be construed against either Party, irrespective of which Party may have actually drafted the ambiguous provision. 

  

	 	13.14	 This Agreement may be executed in counterparts, each of which, when executed, shall be deemed an original and
all of which together shall constitute one and the same document. 

 [REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK] 

  
 - 25 - 

 EXECUTION VERSION 

 
 IN WITNESS WHEREOF, I-Mab
and ABL Bio, by their duly authorized officers, have executed this Collaboration Agreement as of the Effective Date. 
  

					
	ABL Bio	  	I-Mab	  	
			
	/s/ ABL Bio	  	/s/ I-Mab	  	

  
 - 26 - 

 EXECUTION VERSION 

 
 Appendix 1 

ABL Bio Parental Antibody and BsAb Technology Description and Patent Rights 

 

			
	 Substance
	  	 Patent

	 Anti-B7-H3
monoclonal antibody
	  	 KR10-2018-0059257
  

PCT/KR2018/005968

		
	 Anti-4-1BB
monoclonal
	  	 US provisional 62/613,209

 
 US provisional 62/689,310

  
 - 27 - 

 EXECUTION VERSION 

 
 Appendix 2 

I-Mab Parental Antibody Description and Patent Rights 

Monoclonal antibodies against PD-L1 (Hu1210-4) 

 

									
	 Asset
	 	 Title of Invention
	 	 Country
	 	Application #	 	Publication #
	PD-L1	 	Anti-PD-L1 antibodies and uses thereof	 	 PCT
 (US, EP, KR, CN)
	 	PCT/CN2017/088033	 	WO2017/215590A1
	 	Anti-PD-L1 antibodies and uses thereof	 	US	 	15744737	 	(TBD)
	 	Anti-PD-L1 antibodies and uses thereof	 	EP	 	EP17812701.5	 	3325513
	 	Anti-PD-L1 antibodies and uses thereof	 	KR	 	10-2018-7009566	 	(TBD)
	 	Anti-PD-L1 antibodies and uses thereof (B6)	 	PCT	 	PCT/CN2018/081079	 	(NA)
					
	TIGIT	 	Antibodies to T cell immunoreceptor with IG and ITIM domains (TIGIT) and uses thereof	 	PCT	 	PCT/CN2018/075477	 	(NA)

  
 - 28 - 

 EXECUTION VERSION 

 
 Appendix 3 

Early Development Plan 

Notwithstanding the foregoing, the Early Development Plan in this Appendix 3, including without limitation details of the task and timeline, will be
changeable without both Party’s signature if PLs of both Parties agree on the changes. Any delay in meeting the timeline set forth in this Appendix 3 shall not be construed as a breach of the Agreement if the delaying Party made
commercially reasonable efforts with prior notice to the other Parity.  
 (1) PD-L1/TIGIT BsAb

  

																																							
	 Work Task (year/ month)

 
	  	Responsible
(ABL Bio/ I-Mab)	  	2018	 
	  	4  	 	  	5  	 	  	6  	 	  	7  	 	  	8  	 	  	9  	 	  	10  	 	  	11  	 	  	12  	 
	
Generate BsAb
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
in vitro characterization
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Developability test
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
In vivo pilot study
	  	I-Mab	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
In vivo characterization (trangenic model)
	  	I-Mab	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Final candidate selection (Decision Point I)
	  	ABL Bio/ I-Mab	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

  
 - 29 - 

 (2) PD-L1/4-1BB BsAb

  

																																							
	Work Task (year/ month)	  	Responsible
(ABL Bio/ I-Mab)	  	2018	 
	  	4  	 	  	5  	 	  	6  	 	  	7  	 	  	8  	 	  	9  	 	  	10  	 	  	11  	 	  	12  	 
	
Generate BsAb
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
in vitro characterization
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Developability test
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
In vivo characterization
	  	I-Mab	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Final candidate selection (Decision Point I)
	  	ABL Bio/I-Mab	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

 (3) PD-L1/B7H3 BsAb 

 

																																																																											
	Work Task (year/ month)	  	Responsible
(ABL Bio/ I-Mab)	  	2018	 	  	2019	 
	  	4  	 	  	5  	 	  	6  	 	  	7  	 	  	8  	 	  	9  	 	  	10  	 	  	11  	 	  	12  	 	  	1  	 	  	2  	 	  	3  	 	  	4  	 	  	5  	 	  	6  	 	  	7  	 	  	8  	 	  	9  	 
	
Generate BsAb
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
in vitro characterization
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Developability test
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
in vivo model set up
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
In vivo characterization
	  	ABL Bio	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Final candidate selection (Decision Point I)
	  	ABL Bio/I-Mab  	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

  
 - 30 - 

 EXECUTION VERSION 

 
 Appendix 4 

Late Development Plan 

Notwithstanding the foregoing, the Late Development Plan in this Appendix 4, including without limitation details of the task, timeline and costs, will
be changeable without both Party’s signature if PLs of both Parties agree on the changes. Any delay in meeting the timeline set forth in this Appendix 4 shall not be construed as a breach of the Agreement if the delaying Party made
commercially reasonable efforts with prior notice to the other Parity. 
 (1) PD-L1/TIGIT BsAb 

 

																																																																																			
	Stage	  	
Work Task
 (year/
month)
	  	2018	 	  	2019	 	  	2020	 
	  	10  	 	  	11  	 	  	12  	 	  	1  	 	  	2  	 	  	3  	 	  	4  	 	  	5  	 	  	6  	 	  	7  	 	  	8  	 	  	9  	 	  	10  	 	  	11  	 	  	12  	 	  	1  	 	  	2  	 	  	3  	 	  	4  	 	  	5  	 
	
CMC
	  	Cell line development	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	Cell line stability	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	MCB/WCB production & characterization	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	Assay development & qualification	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	Process (200L) & Formulation dev.	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	ER run (GLP material for Toxicity, DS)	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	1 lot of DS/DP GMP	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	DS/DP stability study	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Preclinical  
	  	PK/PD study	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	GLP-Toxicity study	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	
Clinical
	  	IND dossier preparation	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 
	  	IND submission	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 

  
 - 31 - 

 EXECUTION VERSION 

 
 (2)
PD-L1/4-1BB BsAb 
  

																																																																																																			
	Stage	  	
Work Task
 (year/
month)
	 	2018	 	 	2019	 	 	2020	 
	 	10	 	 	11	 	 	12	 	 	1	 	 	2	 	 	3	 	 	4	 	 	5	 	 	6	 	 	7	 	 	8	 	 	9	 	 	10	 	 	11	 	 	12	 	 	1	 	 	2	 	 	3	 	 	4	 	 	5	 	 	6	 	 	7	 	 	8	 	 	9	 
	
CMC
	  	Cell line development	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	Cell line stability	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	MCB/WCB production & characterization	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	Assay development & qualification	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	Process (200L) & Formulation dev.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	ER run (GLP material for Toxicity, DS)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	1 lot of DS/DP GMP	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	DS/DP stability study	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
Preclinical  
	  	PK/PD study	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	GLP-Toxicity study	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
Clinical
	  	IND dossier preparation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	IND submission	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  
 - 32 - 

 EXECUTION VERSION 

 
 (3) PD-L1/B7H3 BsAb 

 

																																																																																																							
	Stage	  	
Work Task
 (year/
month)
	 	2019	 	 	2020	 	 	2021	 
	 	7	 	 	8	 	 	9	 	 	10	 	 	11	 	 	12	 	 	1	 	 	2	 	 	3	 	 	4	 	 	5	 	 	6	 	 	7	 	 	8	 	 	9	 	 	10	 	 	11	 	 	12	 	 	1	 	 	2	 	 	3	 	 	4	 	 	5	 	 	6	 	 	7	 
	
CMC
	  	Cell line development	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	Cell line stability	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	MCB/WCB production & characterization	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	Assay development & qualification	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	Process (200L) & Formulation dev.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	ER run (GLP material for Toxicity, DS)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	1 lot of DS/DP GMP	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	DS/DP stability study	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
Preclinical  
	  	PK/PD study	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	GLP-Toxicity study	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
Clinical
	  	IND dossier preparation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	IND submission	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  
 - 33 - 

 EXECUTION VERSION 

 
 Appendix 5 

IP Ownership, Costs Sharing, Income Sharing, Royalty Sharing, and 

Calculation Examples 
  

													
	 BsAb
	 	(1) Development Costs Sharing	 	
Intellectual Property Right/Non-Royalty

Income Sharing
	 	Royalty Sharing
	 	I-MAB (Ci)	 	ABL (Ca)	 	 I-MAB (Oi)
	 	 ABL (Oa)
	 	I-MAB (Oi)	 	ABL (Oa)
	 PD-L1/TIGIT
	 	50%	 	50%	 	 70%

(Out-Licensing before
 Decision
Point III) or
 60% (Out-Licensing

after Decision point III)
	 	 30%

(Out-Licensing before
 Decision
Point III) or
 40% (Out-Licensing after

Decision point III)
	 	70%	 	30%
	
PD-L1/4-1BB
	 	50%	 	50%	 	50%	 	50%	 	50%	 	50%
	 PD-L1/B7H3
	 	50%	 	50%	 	50%	 	50%	 	50%	 	50%

  

	(1)	 The above table only applies on the co-development situation (i.e. both
Parties Opt-In) in the Rest of World. For Royalty Income and Non-Royalty Income sharing in case of Opt-Out by a Party, please see
Section 4.3.2 and 4.3.4. 

  
 - 34 - 

 EXECUTION VERSION 

 
 Appendix 6 

Press Release 
 I-Mab Biopharma and ABL Bio Announce Global Collaboration on Innovative Bispecific Antibodies 
 I-Mab Biopharma (“I-Mab”), a company focusing on innovative biologics in immuno-oncology and immuno-inflammation, and ABL Bio Corporation (“ABL Bio”), a
South Korean biotechnology company, today jointly announced that two companies had entered into a strategic partnering agreement for ABL Bio to in-license the global rights excluding Greater China to I-Mab’s bispecific antibodies (BsAb) of undisclosed target with licensing payments of approximately US$100 million in total. The two companies also agreed on a collaboration to co-develop additional BsAbs as part of the partnership. 
 Under the terms of the agreement, ABL Bio will pay
US$2.5 million in upfront payment. I-Mab will also receive research & development, regulatory and sales-based milestone payments, which could result in aggregate payments of US$100 million
from ABL Bio. In addition, ABL Bio will pay royalties on net sales. The partnership also includes three more collaborative bi-specific antibody projects. I-Mab and ABL
Bio will share the development cost as well as rights in China, South Korea and rest of the world in different configurations. 
 “This partnership
with ABL Bio is a latest addition to our growing portfolio of global partnerships spanning from early stage projects to clinical assets. We are very pleased to work with ABL Bio for their cutting-edge discovery and antibody engineering platform for
novel therapeutic antibodies,” said Jingwu Zang, the founder and CEO of I-Mab. “Bi-specific antibody truly represents the next wave biologics in cancer
immunotherapy for its unique modality to create target synergy.” Zang added. 
 “We are very excited about partnership with I-Mab to develop First-in-Class and Best-in-Class BsAbs
and our collaboration will accelerate the development of innovative immunotherapy,” said Sang Hoon Lee, the founder and CEO of ABL Bio. Lee also mentioned “We look forward to a productive and successful partnership since I-Mab is a leader in the immunology field. Because of the strong synergies between both companies, we believe this collaboration will provide a great example for our industry.” 

I-Mab has successfully completed a string of in-licensing deals with global
pharmaceutical companies such as MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY) and Genexine, Inc. (KOSDAQ: 095700) to enrich its China portfolio. This out-licensing and partnership is the
second such transaction for I-Mab and marks the beginning of I-Mab’s ability to out-license or co-develop its own innovative biologics through global partnerships. 
 About
I-Mab: 
 Facilitated by a merger between Third Venture Biotech and Tasgen Bio, which was followed by a Series B
financing of USD 150 million in 2017, I-Mab has rapidly built a highly experienced team with world-class R&D capabilities. On June 29, 2018, I-Mab
announced that it had successfully raised US$220 million in Series C financing with a group of reputable investors led by Hony Capital, representing one of the largest amount ever raised in Series C by an innovative biotech company in China.

  
 - 35 - 

 EXECUTION VERSION 

 
 I-Mab focuses on discovery and development of First-in-Class and Best-in-Class biologics in the areas of immuno-oncology and
immuno-inflammation. The company has already initiated a Phase 2 clinical trial and is prepared to submit multiple IND applications for additional clinical trials in China and the US, including Phase 2 and Phase 3 studies. 

www.i-mabbiopharma.com 

Contact: 
 Raven Lin, Vice President of Corporate Development

 raven.lin@i-mabbiopharma.com 

About ABL Bio: 
 ABL Bio is a privately held South Korean
biotechnology company developing antibody therapeutics for immuno-oncology and neurodegenerative disease. ABL Bio was founded in 2016 and recently completed series C fund raising of USD 65 million in 2018 after successful series A and B
financing in 2016 and 2017. ABL001, a bispecific antibody (BsAb) targeting VEGF and DLL4 is currently in Phase 1 clinical trial for oncology. In the neurodegenerative disorder space, ABL Bio is harnessing its BsAb expertise to develop
next-generation BsAbs designed to maximize blood–brain barrier (BBB) penetrance and therapeutic efficacy. The most advanced molecule is ABL301, an α-synuclein-targeting BsAb that penetrates the BBB via a receptor-mediated transcytosis
(RMT) and is in development for Parkinson’s disease (PD). ABL Bio is also actively developing immune-oncology therapies and has built strong R&D team to develop
First-in-Class and Best-in-Class BsAbs. www.ablbio.com 

Contact: 
 Sang Hoon Lee, CEO & Founder 

sang.lee@ablbio.com 

  
 - 36 -

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