Document:

Prepared by R.R. Donnelley Financial -- EX-10.14

 Exhibit 10.14 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 RESEARCH SERVICES AGREEMENT 

This Research Services Agreement (this “Agreement”) is dated as of December 19, 2011 (the “Effective Date”),
and is by and between MERIAL Limited, a company limited by shares registered in England and Wales (registered number 3332751) with a registered office at P.O. Box 327, Sandringham House, Sandringham Avenue, Harlow Business Park, Harlow, Essex
CM19 5QA, England, and domesticated in Delaware, USA as MERIAL LLC, and having a place of business at 3239 Satellite Boulevard, Bldg. 500, Duluth, Georgia 30096 USA, on behalf of itself and any of its subsidiaries and/or Affiliates (hereinafter,
“MERIAL”), and SCYNEXIS, Inc., a Delaware corporation having a place of business at 3501 C Tricenter Boulevard, Durham, NC 27713 (hereinafter, “SCYNEXIS”). 

RECITALS 
 WHEREAS, it is
hereby contemplated that SCYNEXIS shall provide certain research services to MERIAL; and 
 WHEREAS, SCYNEXIS intends to provide such
research services to MERIAL. 
 NOW, THEREFORE, in consideration of the mutual covenants and obligations hereinafter set forth, the parties
hereto hereby agree as follows: 
  

	1.	Definitions. 

 “Affiliate” shall mean any existing or future company
directly or indirectly controlling, controlled by or under common control with a Party, where control means the direct or indirect ownership of at least fifty percent (50 %) of the capital stock of the company or the power to exercise at least fifty
percent (50 %) of the voting rights of the company, or the power to determine the policy of the company, provided such company agrees to be bound by the terms of this Agreement. 

“Agreement Intellectual Property” shall mean Intellectual Property related to or resulting from SCYNEXIS’s performance
pursuant to this Agreement, including the Compounds. 
 “[*]” shall mean any [*], or [*] that [*] and/or [*], including but not
limited to, [*]. 
 “Change of Control” shall mean the acquisition by any natural person or business entity, other than
MERIAL, Sanofi, or one of their Affiliates, directly or indirectly, of shares representing in the aggregate more than [*] percent of the aggregate voting power represented by the issued and outstanding capital stock of SCYNEXIS; or a merger,
consolidation or reorganization involving SCYNEXIS (other than with MERIAL, Sanofi, or one of their Affiliates); or the sale or disposition of all or substantially all of the assets of SCYNEXIS to any person (other than to MERIAL, Sanofi, or one of
their Affiliates). 

  

					
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 “Compound” shall mean any chemical compound that has been screened, tested or
synthesized by SCYNEXIS under this Agreement and: (1) whose structure is [*], (2) the property(-ies) or activity(-ies) of which [*], or (3) that is [*] or [*] but is not [*] or [*]. 

“Compound Family” shall mean the compounds that are [*] a Compound. 

“Confidential Information” shall mean all proprietary or confidential information, knowledge, property, or data of the
disclosing party or its Affiliates that does not otherwise qualify as a Trade Secret, including, but not limited to, the procedures, techniques, and business strategies of the disclosing party or its Affiliates or clients, lists or names of clients,
customers or partners of the disclosing party or its Affiliates, lists or names of employees of the disclosing party or its Affiliates, or any other confidential or proprietary information of the disclosing party or its Affiliates that does not
otherwise qualify as a Trade Secret. 
 “FTE” shall mean one person who is a SCYNEXIS employee and is engaged on a full-time
basis (i.e., at least 40 hours per week) on the Services Team. For the sake of clarity, a FTE is one named person and is not a “full-time equivalent” of 40 hours of work provided by more than one SCYNEXIS employee. 

“Information” shall mean both Confidential Information and Trade Secrets. 

“Intellectual Property” shall mean any form of intellectual property including, without limitation, all written materials and
other works which may be subject to copyright, trade secrets, all patentable and unpatentable inventions, ideas, know-how, improvements, concepts, discoveries, know-how, research materials, technical information, test data, product efficacy and
safety data, existing or pending Patents, and trademarks. 
 “Losses” shall mean any liability, damage, loss, penalties,
fines, claims, costs or expense (including reasonable attorney fees). 
 “Materials” shall mean any materials or compounds
provided by MERIAL to SCYNEXIS or created or prepared by SCYNEXIS for use in the Scope of Services and shall include progeny, portions and derivatives of such Material and any associated know-how and data provided by MERIAL or created during the
provision of the Services. 
 “Patents” shall mean patent applications and granted patents including but not limited to
divisions, reissues, re-examinations, continuations, continuations in part, renewals, extensions, utility models and supplementary protection certificates. 

“RSC” (Research Steering Committee) shall have the meaning given in Section 3. 

“Screening” shall mean the determination of any property of a chemical compound, including, but not limited to, physical,
biological or phenotypic properties. 
 “Services” shall have the meaning set forth in Section 2 below. 

“Services Team” shall mean the SCYNEXIS employees identified in Exhibit XXX. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 “Term” shall mean the three (3) year period beginning on January 1,
2012 and ending on December 31, 2014. 
 “Trade Secrets” shall include, except as otherwise provided by applicable law,
any information of the disclosing party or its Affiliates, without regard to form, including, but not limited to, technical or non-technical data, formulae, patterns, compilations, programs, devices, methods, techniques, drawings, processes,
financial data, financial plans, product plans, or lists of actual or potential customers or suppliers which is generally not known by or available to the public and which information: (i) derives economic value, actual or potential, from not
being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use and (ii) is the subject of efforts by the disclosing party that are reasonable under the
circumstances to maintain its secrecy. 
  

	2.	Scope of Work. 

  

	 	2.1.	SCYNEXIS will perform the research services for MERIAL as described in Exhibit 1 attached hereto (“Services”) at the staffing levels (in terms of the qualifications, background and respective time
commitments for each project member (“Project Team”)) set forth therein. MERIAL reserves the right to modify the scope and/or type of Services, the target organisms, and the staffing levels (including the ratio of biologist to chemist) of
the Project Team upon [*] notice. If any such change will result in an increase in the Fees, SCYNEXIS will notify MERIAL promptly, and MERIAL must approve any increase prior to SCYNEXIS implementing the change. For the avoidance of doubt, any such
modification shall not decrease the amount of the compensation payable to SCYNEXIS pursuant to Section 5 below. MERIAL also reserves the right to stop research into a particular Compound or series of Compounds. 

 

	 	2.2.	MERIAL shall be responsible for managing, engaging and paying for third parties used to provide complimentary services to the Services provided by SCYNEXIS. SCYNEXIS shall use its best efforts to coordinate such
complimentary services with the Services, including, but not limited to, reviewing and developing with Merial the scope of work desired to be performed by third parties, sending and receiving compounds, transferring data, experimental procedures,
and protocols to third parties, receiving and analyzing data from third parties, and participating in meetings (in person and telephonic) with such third parties, as reasonably requested by MERIAL, provided that SCYNEXIS’ corresponding out of
pocket travel expenses preapproved in writing by MERIAL shall be reimbursed by MERIAL. 

  

	3	Research Steering Committee 

  

	 	3.1.	The Parties hereby establish a committee (“Research Steering Committee” or “RSC”) comprised of four (4) permanent members, with two (2) representatives appointed by each Party. A Party may
designate or change one or more of its representatives on the RSC at any time upon written notice to the other Parties. The RSC may invite additional guests to specific RSC meetings, on an “as needed”, by invitation basis, provided that
all such guests will be required to enter into corresponding confidentiality agreements. The patent attorney with primary responsibility for Patent filings on Compounds also may attend the RSC meetings as a nonvoting member. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	3.2	The Research Steering Committee shall: 

  

	 	(i)	discuss chemical structures to be investigated (synthesized or acquired) for screening; 

  

	 	(ii)	review results of Services; and 

  

	 	(iii)	review the portfolio of Compounds and determine priorities for the up-coming three months. 

  

	 	3.3	The RSC shall meet at least [*] a year in person at either SCYNEXIS or MERIAL facilities or by video conference or telephone. Each party shall bear its own expenses associated with these meetings. To constitute a quorum
at least two representatives for each Party must attend. If a designated representative of a Party cannot attend any meeting of the RSC, such Party may designate a different representative for that meeting upon giving prior notice to the other
Party. This substitute representative shall have the same rights as the Party’s appointed member to the RSC. The Parties shall coordinate and cooperate with each in good faith in managing the Services and use good faith to reach mutually
agreeable decisions. Any disagreements between the Parties shall be equitably reduced by good faith negotiations between MERIAL and SCYNEXIS. In the event the members of the RSC cannot reach agreement, [*]. Minutes of the RSC meetings shall be [*].

  

	4.	Material. 

  

	 	4.1	SCYNEXIS shall use the Materials solely for the purpose set forth in this Agreement and for no other purpose. SCYNEXIS may not transfer the Material to third parties without the express written consent of MERIAL. The
transfer of the Material to SCYNEXIS shall not be construed as a sale of the Material by MERIAL to SCYNEXIS. 

  

	 	4.2	SCYNEXIS shall use the Material in compliance with all applicable statutes, regulations, and guidelines. 

  

	 	4.3	Nothing in this Agreement grants SCYNEXIS any rights under any patents, patent applications, or other property rights of MERIAL, nor any rights to use any tools, techniques, or material derived from, or associated with
the Material, for additional research, profit-making, commercial activities, or any other purpose not identified hereunder. ALL MATERIALS ARE SUPPLIED AS IS, WITHOUT ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER
WARRANTY, EXPRESS OR IMPLIED. The Material supplied hereunder by MERIAL to SCYNEXIS shall remain the property of MERIAL, and SCYNEXIS shall, at MERIAL’s option, dispose of any unused Material and its derivatives or return it to MERIAL.

  

	 	4.4	SCYNEXIS further represents that it has adequate systems, procedures and personnel to review and oversee arrangements for the receipt, handling, storage, use and disposal of the Material and that it will ensure that all
persons involved in receiving, handling, storing, using or disposing of the Material are adequately qualified by training and experience to do so safely and legally. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	5.	Compensation. 

 MERIAL will pay SCYNEXIS the amount specified in Exhibit 2
attached hereto according to the terms therein. These fees shall remain fixed for the Term of the Agreement and may not be decreased. Any changes made to the scope of the Services or the composition of the Project Team which increase these Fees must
be approved in advance in writing by MERIAL and SCYNEXIS. 
  

	6.	Laboratory Visits and Inspections. 

  

	 	6.1	MERIAL’s representatives shall have the option to visit SCYNEXIS’s laboratory during regular business hours to observe the progress of the Services, discuss the Services, and to review the scientific records
relating to the Services. SCYNEXIS shall assist MERIAL in scheduling such visits. All such visits shall be scheduled upon reasonable notice by MERIAL. 

  

	 	6.2	SCYNEXIS agrees to provide MERIAL with prompt, and advance, if possible, notice of any GLP, GCP or GMP inspection by a regulatory agency of SCYNEXIS where such inspection either directly or indirectly relates to the
Services provided under this Agreement. For purposes of this provision, “prompt” shall mean as soon as practicable, but in no case more than [*] from receipt of the notice by SCYNEXIS. 

 

	 	6.3	SCYNEXIS agrees that MERIAL shall have the right, from time to time, upon written notice to SCYNEXIS, to conduct an investigation and audit of SCYNEXIS’s books, records and accounts to verify compliance with this
Agreement. SCYNEXIS agrees to cooperate fully with such investigation, the scope, method, nature and duration of which shall be at the sole reasonable discretion of MERIAL. 

 

	7.	Work Product. 

 All reports will be prepared in English and in SCYNEXIS’s standard
format unless otherwise specified in the Scope of Services. SCYNEXIS will provide the data management system to store and manage all screening data (HEOS). MERIAL will have title to, and be responsible for, archival of all raw data, documentation,
records, protocols, specimens and final reports generated as a result of this Agreement, except for SCYNEXIS’s procedural manuals, development processes, facility-specific data, personnel data, and SCYNEXIS-developed know-how, technology and
software for which title and archival responsibilities shall remain with SCYNEXIS. If at any time MERIAL requests that data from the Services be transferred to MERIAL data management systems, SCYNEXIS will use all reasonable efforts to effectuate
this transfer at no additional cost to MERIAL. 
  

	8.	Manner of Performance. 

  

	 	8.1	 Except as authorized in this Section 8.1, for the term of the Agreement, SCYNEXIS shall [*] under this Agreement and [*] and [*] in this
Agreement [*] for providing the Services. [*] shall include, but not be limited to, [*], and [*] and [*]. For the sake of clarity, barring any change arising from [*] or [*], [*] will [*] and shall [*] during the Term of the Agreement. In the event
[*] is [*] but is not [*] or in the event [*] changes over the Term, as agreed in a writing signed by both Parties, and as a result of those changes [*] no 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
longer [*], [*] would not be or would no longer be (as the case may be) subject to [*] set forth herein (but would continue to be subject to [*] set forth in in this Agreement to the extent [*]).
SCYNEXIS shall set-up and enforce appropriate confidentiality measures and firewalls respecting its activities under this Agreement to ensure that they are kept separate from the other activities of SCYNEXIS. Such steps shall include, without
limitation, written secrecy obligations with terms no less restrictive than obligations set forth herein for all employees, contractors and contributors under this Agreement, regardless of whether such individuals are third parties or employees of
SCYNEXIS. SCYNEXIS shall also establish a security system for the facilities used to perform the Services which restricts access to those facilities to only those SCYNEXIS employees who (1) are providing the Services and have been approved by
MERIAL in writing or (2) maintain the facilities or equipment. Such system must be capable of recording the names and times of every person who enters and exits the facilities. SCYNEXIS must retain the records from the security system for the
duration of the Term and for [*] thereafter. For the avoidance of doubt, [*] set forth in this Agreement are not intended to, and do not, modify or amend any of SCYNEXIS’s obligations under the Collaboration Agreement, dated July 15, 2005,
which by the terms of such Collaboration Agreement, survive termination of that agreement. 

  

	 	8.2	SCYNEXIS will not make available, use for any purpose other than rendering the Services, or disclose Information, Materials, Agreement Intellectual Property, or Compounds or their chemical structures to any third
party (other than subcontractors pre-approved by MERIAL and only to the extent MERIAL permits in writing). 

  

	 	8.3	SCYNEXIS represents that it, and each of its employees, and any third party engaged by SCYNEXIS, who perform, directly or indirectly, the Services, has the requisite expertise, ability and legal right to render
the Services and that it can and will perform the Services in an efficient manner in accordance with prevailing industry standards and practices for the performance of similar services and with the Scope of Services. 

 

	 	8.4	SCYNEXIS will abide by all federal, state, and local laws, rules and regulations that apply to the performance of the Services, including the requirements of the U.S. Foreign Corrupt Practices Act
(“FCPA”) and any other applicable anti-corruption national or international laws and regulations, as well as the policies of MERIAL. 

  

	 	8.5	SCYNEXIS makes no representation or warranty that the Services will not violate or infringe upon any presently issued United States patent, copyright, trade secret or other contractual, employment or
confidentiality right of a third party. 

  

	 	8.6	 SCYNEXIS and MERIAL agree that all transactions will be accurately reflected in their books and records, and that no funds or other assets will
be paid directly or indirectly to government officials (or persons acting on their behalf) for the purpose of influencing government decisions or actions. No payments or transfer of value shall be made which have the purpose or effect of public or
commercial bribery, acceptance of or acquiescence in extortion, 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
kickbacks or other unlawful or improper means of obtaining or retaining business. 

  

	 	8.7	SCYNEXIS agrees to maintain anti-bribery policies and procedures as are appropriate for its business. 

  

	 	8.8	SCYNEXIS also hereby represents and warrants to MERIAL that no ownership interest, direct or indirect, in the contractual relationship established by this Agreement, is held or controlled by or for the benefit of
any foreign political party or foreign official. 

  

	 	8.9	SCYNEXIS agrees that should it learn or have reason to know of: (i) any payment, offer, or agreement to make a payment to a foreign government official or political party for the purpose of obtaining
retaining business or securing any improper advantage for MERIAL under this Agreement or otherwise, or (ii) any other development during the term of this Agreement that in any way makes inaccurate or incomplete the representations, warranties
and certifications of SCYNEXIS hereunder given or made as of the date hereof or at any time during the term of this Agreement related to MERIAL ethics, anti-bribery policy, and related policies and procedures, SCYNEXIS will immediately advise MERIAL
in writing of such knowledge or suspicion and the entire basis known to SCYNEXIS therefore. 

  

	 	8.10	In the event that MERIAL believes, in good faith, that SCYNEXIS has acted in any way that may subject MERIAL to liability under anti-corruption laws, MERIAL shall have the unilateral right, exercisable
immediately upon written notice to SCYNEXIS, to terminate this Agreement. 

  

	 	8.11	No employee of MERIAL will have authority to give any direction, written or oral, relating to the making of any commitment by SCYNEXIS or its agents to any third party in violation of the terms of this Section 8.

  

	9.	Equal Opportunity Employer. 

 Each party affirms that it is an equal opportunity employer
and shall comply with all applicable federal, state and local laws and regulations. Neither party shall discriminate because of race, color, religion, sex, age, national origin, disability, or status as a veteran, or any other reason as defined and
prohibited by applicable law, in the recruitment, selection, training, utilization, promotion, termination or other employment-related activities concerning the Services employees. As a condition of this Agreement, SCYNEXIS agrees to maintain a
working environment free from all forms of harassment, including race, color, religion, sex, age, national origin, disability, or status as a veteran, or any other reason as defined and prohibited by applicable law. 

 

	10.	Term and Termination. 

  

	 	10.1	The Agreement shall commence on January 1, 2012, and shall remain in full force and effect (unless otherwise terminated) during the Term. 

 

	 	10.2	Either Party may terminate this Agreement in the event of breach of material obligation by the other party if such breach remains uncured after [*] written notice from the non-breaching party to the breaching
party. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	10.3	Either party may terminate this Agreement immediately by written notice if the other party makes an assignment for the benefit of creditors, becomes subject to a bankruptcy proceeding, is subject to the
appointment of a receiver, or admits in writing its inability to pay its debts as they become due. 

  

	 	10.4	If SCYNEXIS experiences a Change of Control in which [*], by no later than [*] thereafter, SCYNEXIS shall either: (i) [*] that is [*] and [*] and [*]; (ii) [*] (e.g., [*]) [*]; or (iii) where [*]
that [*] as a result of the Change of Control, [*] disregard the Change of Control and to continue this Agreement as if the Change of Control had not occurred. [*] any scenario described in clause (i), (ii) or (iii). If [*] by the end of the
[*], [*]. For the avoidance of doubt, SCYNEXIS hereby confirms that during the [*] period referred to above, it will fully respect its commitments pursuant to this Agreement, including those relating to the use and disclosure of confidential
information. For the sake of clarity, under no circumstance [*] in any manner [*] at any time. 

  

	 	10.5	At termination or expiration of the Agreement for any reason, upon MERIAL’s written request, SCYNEXIS will transfer to MERIAL all Agreement Intellectual Property, including all samples of the Compounds, and
all documents or data related to, or generated in the course of performing, the Services, including but not limited to data stored in HEOS, reports, files, presentations, protocols, specimens, records, parasites, and any other work product.

  

	 	10.6	The following provisions shall survive the expiration or termination of this Agreement: Sections 1, 4, 7, 8.2-8.6, 8.9, 10, 11, 12, 14-16, 17.3, and 21-23. 

 

	 	10.7.6	Expiration or termination of this Agreement shall not affect the rights, obligations or liabilities of the Parties accruing prior to such expiration or termination. 

 

	11.	Limitation of Liability. 

 EXCEPT FOR A BREACH OF OBLIGATIONS RELATING TO CONFIDENTIALITY
OR INTELLECTUAL RIGHTS UNDER THIS AGREEMENT OR AS PART OF THEIR INDEMNIFICATION OBLIGATIONS UNDER THIS AGREEMENT, NEITHER PARTY SHALL BE ENTITLED TO, NOR BE RESPONSIBLE FOR, ANY INCIDENTAL, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSSES OR DAMAGES
ARISING IN CONNECTION WITH A DEFAULT OR BREACH OF THEIR RESPECTIVE OBLIGATIONS UNDER THIS AGREEMENT. 
  

	12.	Exclusivity. 

 During the Term and for a period of [*] after termination of this
Agreement for any reason, SCYNEXIS shall not, directly or indirectly, [*] on the [*]. For so long as the Agreement Intellectual Property remains protected under any law, statute, or regulation, including, but not limited to, patent and trade secrets
protection laws, SCYNEXIS may not use the Agreement Intellectual Property for any purpose other than to render the Services during the Term of the Agreement. For the avoidance of doubt, nothing in this Section 12 is intended to modify the
Parties’ obligations under Section 15 or 16. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	13.	Independent Contractor. 

 SCYNEXIS will be an independent contractor, and no employment,
agency, partnership, or joint venture relationship between the parties or their respective employees, either express or implied, shall be created by this Agreement. MERIAL will not be responsible for SCYNEXIS’s acts while performing the
Services, whether on SCYNEXIS’s premises, MERIAL’s premises or elsewhere, and SCYNEXIS shall have no authority to speak for, represent, or obligate MERIAL except as expressly authorized in writing by MERIAL. 

 

	14.	Indemnification. 

  

	 	14.1	MERIAL’s Indemnity 

 Except to the extent caused by SCYNEXIS’s negligence or
willful misconduct, MERIAL hereby agrees to indemnify and hold SCYNEXIS (and its directors, officers, employees, agents, successors and assigns) harmless from and against any and all Losses arising out of or connected with a third party claim
relating to: 
  

	 	i)	to any breach by MERIAL of any of its representations and warranties contained in this Agreement or 

  

	 	ii)	any claim of infringement of any Intellectual Property of third parties arising from or relating to performance of the Services; or 

  

	 	iii)	the use by MERIAL, or its Affiliates, sublicensees, employees, agents and consultants of the compounds delivered by SCYNEXIS hereunder, except to the extent such Losses are attributable to a breach by SCYNEXIS of its
representations and warranties in this Agreement or the negligent acts or omissions or willful misconduct in SCYNEXIS’s performance of the Services. MERIAL shall not be liable under this Section 14 for any settlement effected without its
consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder, which consent shall not be unreasonably withheld. 

  

	 	14.2	MERIAL will not be responsible for, or indemnify SCYNEXIS for, any acts performed by SCYNEXIS, or any one working for SCYNEXIS, outside the scope of the Services, whether on SCYNEXIS’s premises,
MERIAL’s premises, or elsewhere. 

  

	 	14.3	SCYNEXIS’s Indemnity 

 Except to the extent caused by MERIAL’s
negligence or willful misconduct, SCYNEXIS hereby agrees to indemnify and hold MERIAL (and its Affiliates and respective directors, officers, employees, agents, successors and assigns) harmless from and against any and all Losses arising out of or
connected with a third party claim relating to: 
  

	 	i)	any breach by SCYNEXIS of its representations and warranties in this Agreement; 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	ii)	SCYNEXIS’ negligent acts or omissions or willful misconduct in the performance of the services hereunder or the synthesis, labeling or handling of the Compounds provided to MERIAL or the synthesis or handling of
Compounds acquired from third parties. SCYNEXIS shall not be liable under this Section 14 for any settlement effected without its consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder, which
consent shall not be unreasonably withheld. 

  

	 	14.4	The indemnified party shall notify the indemnifying party promptly in writing of any such claim, and the indemnifying party shall have the sole control of the defense and all related settlement negotiations
(unless any settlement involves anything other than the payment of money exclusively by the indemnifying party). The indemnified party shall provide the indemnifying party with reasonably requested assistance, information, and authority to perform
the above. 

  

	15.	Confidentiality. 

  

	 	15.1.	Obligations. Each receiving party agrees that it shall: 

  

	 	i)	maintain all Information in strict confidence, except that the receiving party may disclose or permit the disclosure of any Information to its, and its Affiliates’ directors, officers, employees,
consultants, approved subcontractors, and advisors who are obligated to maintain the confidential nature of such Information and who need to know such Information for the purposes set forth in this Agreement; 

 

	 	ii)	use all Information solely for the purposes set forth in, or as permitted by, this Agreement; 

  

	 	iii)	allow its directors, officers, employees, consultants, approved subcontractors, and advisors to reproduce the Information only to the extent necessary to effect the purposes set forth in this Agreement, with all
such reproductions being considered Information; 

  

	 	iv)	cause any consultant or advisor engaged by the receiving party to whom Information is disclosed to execute a confidentiality and nondisclosure agreement in form and substance reasonably acceptable to the
disclosing party. 

  

	 	15.2	Exceptions 

 The obligations of a receiving party under this Section 15 shall not
apply to the extent that the receiving party can demonstrate that the corresponding Information: 
  

	 	i)	was in the public domain prior to the time of its disclosure under this Agreement; 

  

	 	ii)	 entered the public domain after the time of its disclosure under this Agreement through means other than an unauthorized disclosure

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
resulting from an act or omission by the receiving party or its employees, agents or representatives; 

  

	 	iii)	was as shown by written proof independently developed or discovered by employees of the receiving party without use of or access to the Information; 

 

	 	iv)	is or was disclosed lawfully to the receiving party at any time, whether prior to or after the time of its disclosure under this Agreement, by a third party having no fiduciary relationship with the disclosing
party and having no obligation of confidentiality to the disclosing party with respect to such Information; or 

  

	 	v)	is required to be disclosed to comply with applicable laws or regulations (such as disclosure to the United States Environmental Protection Agency or the USPTO or to their foreign equivalents), or to comply with
a court or administrative order, provided that the disclosing party receives prior written notice as soon as possible after such court or administrative order is served on the receiving party and that the receiving party takes all reasonable and
lawful actions to obtain confidential treatment for such disclosure and, if possible, to minimize the extent of such disclosure; or 

  

	 	vi)	is disclosed by MERIAL to governmental, other regulatory agencies, or third parties in compliance with this Agreement in order to gain governmental approval, to perform studies, to conduct trials or to market
products, but such disclosure may only be to the extent reasonably necessary. 

  

	 	15.3	Return of Information 

 Except for Information the rights to which have been granted to
a receiving party, upon the termination of this Agreement, at the request of the disclosing party, the receiving party shall destroy all originals, copies, extracts and summaries of documents, materials, and other tangible manifestations of
Information in the possession or control of the receiving party, except that the receiving party may retain one copy of the Information in the possession of its in house or outside legal counsel solely for the purpose of monitoring its obligations
under this Agreement. 
  

	 	15.4	Publications 

 MERIAL acknowledges SCYNEXIS’s interest in publishing the results to
obtain recognition within the scientific community and to advance the state of scientific knowledge. Both Parties recognize their mutual interest in obtaining valid patent protection and in protecting business interests and trade secret information.
Consequently, SCYNEXIS and its employees, agents, consultants, representatives, subsidiaries, and successors wishing to make a publication shall submit its request for publication to MERIAL in writing, along a copy of the proposed written
publication or an outline of an oral disclosure, at least [*] prior to submission for publication or presentation for approval by MERIAL, which approval shall not be unreasonably withheld. SCYNEXIS shall make modifications to the publication
requested by MERIAL for patent 

  

					
	12/19/2011	 	CONFIDENTIAL	  	 Page
 11

 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
reasons, trade secret reasons, regulatory reasons or other business reasons and to delay publication or presentation for a reasonable period in order to protect Information, know-how and
patentable information. Once a publication has been published or presented in accordance with this Section, SCYNEXIS does not need to present the information in such publication again to MERIAL prior to being used in another publication. 

 

	 	15.5	Disclosure of this Agreement and Publicity 

 Neither Party shall reveal the name of the
other Party or the existence or terms of this Agreement without the prior written approval of the other Party, except to the extent required by applicable securities laws or other applicable law or regulation or in connection with a transaction
involving the offer or sale of equity or debt instruments, subject to the Disclosing Party entering into a confidentiality agreement with the other party(-ies) with confidentiality obligations no less stringent then the obligations set forth herein.

  

	 	15.6	Survival of Obligations 

 With respect to each disclosure of Trade Secrets, the
obligations created herein shall survive until such time that it can be demonstrated that the Trade Secret has become publicly available in the public domain. With respect to each disclosure of Confidential Information, the obligations created
herein shall survive for [*] from termination or expiration of this Agreement, whichever date is later. 
  

	16.	Intellectual Property Rights. 

  

	 	16.1	The background technology of each Party shall remain the sole and unencumbered property of such Party. Except as explicitly stated in this Agreement, neither Party shall acquire any rights to the background
technology of the other Party. 

  

	 	16.2	SCYNEXIS agrees that SCYNEXIS is performing the Services as work for hire and that all Agreement Intellectual Property shall be the sole and entire property of MERIAL, subject to MERIAL’s obligations to
third parties. SCYNEXIS hereby assigns all rights, title, and interest to any copyrights and any Agreement Intellectual Property. 

  

	 	16.3	SCYNEXIS agrees to disclose promptly all Agreement Intellectual Property to MERIAL, without royalty or any other consideration, and in any event, prior to the termination of this Agreement. 

 

	 	16.4	 MERIAL will be responsible for performing all freedom-to-operate reviews relating to the Services and for filing and prosecuting any Patents
resulting from the Services. SCYNEXIS will provide MERIAL with any relevant information related to Compounds, such as chemical structure, so that MERIAL can generate freedom-to-operate opinions as soon as practically possible. SCYNEXIS also will
supply required information for Patent filings. SCYNEXIS agrees to (a) execute any document of assignment or title to transfer and perfect title to Agreement Intellectual Property as MERIAL may, from time to time, deem appropriate, and
(b) cooperate fully in freedom to operate reviews and in obtaining whatever protection for Agreement 

  

					
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 12

 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
Intellectual Property, including Patent rights, MERIAL shall require. The obligations of SCYNEXIS under this Section 16 to execute title documents and cooperate in matters of title
protection shall not terminate upon the termination of this Agreement, but rather, shall continue in effect thereafter with respect to all such obligations; provided, however, that MERIAL shall reimburse SCYNEXIS for all out-of-pocket expenses
incurred by SCYNEXIS in performing services under this Section 16 requested by MERIAL after termination of this Agreement. 

  

	 	16.5	If any Party considers that any Patent is being infringed by a third party, that Party shall notify the other Party and provide it with any evidence of such infringement which is reasonably available. If the
infringement relates to any Agreement Intellectual Property, MERIAL shall have the right, but not the obligation, at its own expense, to attempt to remove such infringement by commercially appropriate steps, including suit which it can settle on
terms it believes commercially reasonable, and all recovery as to which MERIAL may fully retain. If required by MERIAL, SCYNEXIS shall join such suit as a party, at reasonable expense to MERIAL. In any event, SCYNEXIS shall reasonably assist MERIAL
in any such suit, at reasonable expense to MERIAL. 

  

	 	16.6	If any warning letter or other notice of infringement is received by a Party, or action, suit or proceeding is brought against a Party alleging infringement of a Patent of any third party in the manufacture, use
or sale of a Compound or any product developed by MERIAL as a result of this Agreement, MERIAL shall have the right to control responding to such allegation and will reasonably consult with SCYNEXIS. Except as set forth above, each Party shall be
responsible for responding for its own activities and defending its own activities. 

  

	 	16.7	Any information shared among the Parties in connection with any Patent matters shall be fully subject to the confidentiality provisions set forth in Section 15 herein. Furthermore, the Parties agree that any
information shared at any time in any relation to any Inter Partes Patent Proceeding, including without limitation, initiating, defending, or settling any Inter Partes Patent Proceeding, is subject to joint defense or similar agreements, which the
Parties shall memorialize, in good faith. 

  

	 	16.8	MERIAL, shall, through in-house or outside attorneys solely of its choice, prepare, file, prosecute, and maintain, and control the preparation, filing, prosecution and maintenance of, all applications for
registration of generic names for Compounds pursuant to this Agreement. The Parties hereto expressly agree that the in-house and outside attorneys chosen by MERIAL for this purpose are MERIAL’s counsel and waive any and all actual or potential
conflicts of interest with respect thereto. The preparation, filing, prosecution and maintenance of applications for registration of generic names for compounds pursuant to this Agreement, shall be at MERIAL’s cost. 

 

	 	16.9	Except as set out in Section 16.4, SCYNEXIS agrees that the payments described in Exhibit 2 hereinafter are full and complete compensation for all obligations assumed by SCYNEXIS under this Agreement
and in full satisfaction of any and all fees and royalties to which SCYNEXIS may be entitled by law or otherwise, including without limitation, the law of any country in which SCYNEXIS is resident during the Term. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	16.10	SCYNEXIS represents and warrants that all persons performing Services, be they an employee of SCYNEXIS or a third party engaged by SCYNEXIS, shall be obligated as a matter of law, or shall have entered into
agreements with SCYNEXIS obligating them, to assign to SCYNEXIS all rights they may have in Agreement Intellectual Property (whether patentable or not), and works of original authorship. 

 

	 	16.11	SCYNEXIS agrees to hold all Agreement Intellectual Property confidential in accordance with Section 15 of this Agreement. 

 

	 	16.12	The Parties acknowledge that this Agreement is executory, and that any intellectual property licensed under this Agreement is “licensed intellectual property” for purposes of Section 365(n) of the
US Bankruptcy Code and that each licensee under this Agreement shall have the ability to exercise all rights provided by Section 365(n) with respect to the “licensed intellectual property” in any bankruptcy of a licensor under this
Agreement. 

  

	17.	Insurance. 

  

	 	17.1	SCYNEXIS represents that SCYNEXIS carries and will maintain during the Term of this Agreement: 

  

	 	i)	Workers’ compensation and automobile liability insurance in conformity with the laws of the state(s) in which the work contemplated by this Agreement is to be done; and 

 

	 	ii)	Comprehensive general liability insurance and/or an umbrella liability insurance policy, with combined limits sufficient to cover its potential liabilities under this Agreement. 

 

	 	17.2	SCYNEXIS shall furnish insurance certificates showing SCYNEXIS’s compliance with this Section upon MERIAL’s request. 

 

	 	17.3	Should an employee of SCYNEXIS suffer any kind of injury covered by worker’s compensation laws while performing Services under this Agreement, SCYNEXIS represents and warrants that SCYNEXIS’s
employee’s injuries will be covered under SCYNEXIS’s worker’s compensation insurance policy. 

  

	18.	Assignment and Subcontracting. 

 SCYNEXIS will not assign, delegate, sub-contract,
transfer, charge or otherwise dispose of all or any of its rights and responsibilities under this Agreement without the prior written consent of MERIAL provided that, subject to Section 10.5, SCYNEXIS shall be entitled to assign this Agreement
to any parent, subsidiary, Affiliate, successor of all or substantially all of its [*] assets or business, or related company of SCYNEXIS, [*]. MERIAL reserves the right to assign this Agreement to any parent, subsidiary, Affiliate, successor of all
or substantially all of its assets or business, or related company of MERIAL. This Agreement shall be binding upon and inure to the benefit of the Parties hereto, their Affiliates, and their respective successors and permitted assigns. 

  

					
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 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	19.	Representations and Warranties 

  

	 	19.1	Authorization 

 Each Party represents and warrants to the other Party that it has the
legal right and power to enter into this Agreement, to extend the rights and licenses granted to the others in this Agreement, and to fully perform its obligations hereunder, and that the performance of such obligations will not conflict with its
charter documents or any agreements, contracts, or other arrangements to which it is a party. 
  

	 	19.	SCYNEXIS Intellectual Property Rights 

  

	 	i)	SCYNEXIS represents and warrants that it owns or has the right to use pursuant to license, sublicense, agreement or permission all Intellectual Property individually or in the aggregate, that are material to the
operation of its business and are used to render the Services. To the best of its knowledge, SCYNEXIS has not interfered with, infringed or misappropriated any Intellectual Property of third parties. To the best of SCYNEXIS’s knowledge, the
performance of services by SCYNEXIS hereunder, will not interfere with, infringe or misappropriate any Intellectual Property of third parties. SCYNEXIS represents and warrants that it has not received any charge, complaint, claim, demand or notice
alleging any such interference, infringement or misappropriation (including any claim that it must license or refrain from using any Intellectual Property of any third party). To the best knowledge of SCYNEXIS, no third party has interfered with,
infringed upon or misappropriated any Intellectual Property of SCYNEXIS. 

  

	20.	Force Majeure. 

 Either party shall be excused from performing its obligations under this
Agreement if its performance is delayed or prevented by any event beyond such party’s reasonable control, including without limitation, acts of God, fire, explosion, weather, disease, war, insurrection, civil strife, riots, government action,
curtailment of transportation, or power failure, provided that such performance shall be excused only to the extent of and during such disability. Prompt notice of an inability to perform will be provided to the other party. If such force majeure
circumstances occur, the party injured by the other party’s inability to perform may elect to (a) terminate this Agreement immediately if such force majeure event is not cured within [*]; and/or (b) suspend this Agreement for the
duration of the force majeure circumstances, and then resume performance under this Agreement. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimize the impact of
such circumstances on the injured party. 
  

	21.	Notices. 

 Any notice or other communication under this Agreement shall be in writing and
shall be effective upon the earlier of (i) actual receipt, (ii) seven (7) days following deposit into the United States mail (certified mail, return receipt requested), (iii) the next business day following deposit with a
nationally recognized overnight courier service, or (iv) the same day following transmission of a legible facsimile copy during regular 

  

					
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 15

 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
business hours, in each case with any delivery fees pre-paid and addressed to the party at the address set forth on the first page of this Agreement, Attention General Counsel, or such other
address as that party may notify the other from time to time in accordance with this Section. 
 If to SCYNEXIS, to: 

SCYNEXIS, Inc. 
 P.O. Box 12878
Research Triangle Park, 
 North Carolina 27709, USA 

Attention:    General Counsel 

Facsimile:    +1 919-544-8697 

If to MERIAL, to: 
 Merial Limited

 3239 Satellite Boulevard 

Building 500 
 Duluth, Georgia
30096, USA 
 Attention: General Counsel 

Copy to: Global Head, Intellectual Property 

Facsimile: +1 678-638-3886 
  

	22.	Scope of Agreement. 

 This Agreement shall constitute the entire understanding of the
parties hereto. No modification, amendment or waiver may be accomplished to the terms of this Agreement except in a writing signed by authorized representatives of both parties. 

The waiver by a party of a breach of any provision of this Agreement by the other party (a “Breaching Party”) shall not operate or be
construed as a waiver of any subsequent breach by the Breaching Party. The parties expressly agree that all terms and provisions herein shall be construed and enforced in accordance with the laws of the State of Georgia, without reference to any
rules of conflict of laws. The parties agree that the provisions of this Agreement are severable and separate from one another and if any provision of this Agreement is held to be invalid, illegal, or unenforceable under any present or future law,
such provision shall be modified to the minimum extent necessary to render it enforceable and to preserve to the fullest extent possible its original scope. The parties further agree that if any provision is held to be invalid, illegal, or
unenforceable to such an extent that it cannot be modified and is stricken from the Agreement, the remainder of the Agreement shall be enforceable without regard to the enforceability of any stricken provision. 

 

	23.	Headings. 

 Paragraph headings are for convenience of reference only and shall not be
considered in the interpretation of this Agreement. 
  

	24.	Counterparts 

 This Agreement may be executed in counterparts, each of which shall be
deemed an original, and all of which together shall be deemed to be one and the same instrument. 

  

					
	12/19/2011	 	CONFIDENTIAL	  	 Page
 16

 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly
authorized representatives as of the Effective Date. 
  

									
	MERIAL LIMITED	 		 	SCYNEXIS, INC.
					
	By:	 	 /s/ Jose Barella
	 		 	By:	 	 /s/ Yves Ribeill

					
	Name:	 	 Jose Barella
	 		 	Name:	 	 Yves Ribeill

					
	Title:	 	 Senior Vice President, Animal Health
	 		 	Title:	 	 CEO

				
	MERIAL LIMITED	 		 		 	
					
	By:	 	 /s/ Ellen de Brabander
	 		 		 	
					
	Name:	 	 Ellen de Brabander
	 		 		 	
					
	Title:	 	 Head of Global R&D
	 		 		 	

  

					
	12/19/2011	 	CONFIDENTIAL	  	 Page
 17

 [*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 EXHIBIT 1 — SCOPE OF SERVICES 

SCYNEXIS shall perform the following Services: 
 [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 EXHIBIT 2 - TERMS 
  

	1.	The total cost for the Services over the Term of the Agreement is $21,862,500. The cost cannot exceed this amount without MERIAL’s prior written consent. This budget is based on the use of the materials
described in the Scope of Services and any other material, supplies, and services necessary to complete the Services. 

Payment shall be made in quarterly installments of $1,821,875. The quarters will begin on January 1, April 1, July 1
and October 1. The first quarterly installment can be invoiced no sooner than December 1, 2011, after execution of the Agreement by both parties. The remaining installments will be paid by the later of [*] after MERIAL’s receipt of an
invoice from SCYNEXIS or [*] after the start of each quarter and MERIAL’s receipt of an invoice from SCYNEXIS. 
 For the avoidance of
doubt, MERIAL will be responsible for paying third parties engaged by MERIAL to provide complimentary services as set out in Section 2.2 above. SCYNEXIS shall be responsible for paying any third parties it engages (with MERIAL’s prior
written approval) to provide the Services. SCYNEXIS shall be responsible for paying for its employees’ travel expenses within the United States of America and to and from Europe. 

 

	2.	Invoices are required for all payments including initial payment and are due [*] days of receipt of invoice. Invoices should be sent to: 

Christian Miculka 

MERIAL LIMITED 
 3239
Satellite Blvd. 
 Duluth, GA 30096-4640 

Payee Name: SCYNEXIS, Inc. 

Payment Method: Wire Transfer 

Complete the following information for wire transfers: 

Bank ABA#: [*] 
 Bank Name: [*]

 Bank Address: [*] 
 Bank
Account Number: [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.Prepared by R.R. Donnelley Financial -- EX-10.15

 Exhibit 10.15 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Dated May 10, 2005 

(1) Aventis Pharma S.A. 

- and - 
 (2) SCYNEXIS,
Inc. 
  
  

Exclusive World-wide Licence Agreement 
  

 

 THIS AGREEMENT is made as of the 10th day of May 2005

 BETWEEN:- 
  

	(1)	SCYNEXIS, Inc., a company incorporated under the laws of the state of Delaware, whose principal office is at 3501 C Tricenter Boulevard, Durham, North Carolina, 27713 USA (“Scynexis”); and

  

	(2)	Aventis Pharma S.A., a company incorporated under the laws of France whose registered office is at 20, Avenue Raymond Aron, F-92165 Antony, Cedex, France (“Aventis Pharma”). 

BACKGROUND:- 
  

	(A)	Aventis Pharma has developed or acquired inventions and know-how concerning cyclosporin derivatives, and owns certain patents relating to such inventions; 

 

	(B)	Aventis Pharma also owns stocks of the compound [*], and cultures useful in the preparation of these compounds (biotransformation strain); 

 

	(C)	Aventis Pharma and Scynexis Europe Ltd, an Affiliate of Scynexis, entered into an Option Agreement dated 12 March 2004 (“Option Agreement”) under which Aventis Pharma granted Scynexis an option
(i) to obtain either an assignment of the entire right, title and interest in such inventions, know-how and patents or an exclusive licence thereto, and (ii) have transferred all stocks of the Compound (as defined below) held by Aventis
Pharma. During the term of such Option Agreement, Scynexis has evaluated the Patents, and Know-How and as part of its evaluation, has performed additional work on the Compound notably to analyze the integrity of the Compound by checking purity and
stability and to confirm, in vitro, the activity of the Compound on new clinical isolates due to the emergence of new HIV resistant strains which did not exist at the time of the original development of the Compound; and 

 

	(D)	 Pursuant to the Option Agreement, (1) Aventis Pharma is willing to grant and Scynexis wishes to receive a world-wide, exclusive licence of
Aventis Phainia’s 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
Know-How, and Patents and (2) Aventis Phatina is willing to sell and Scynexis wishes to purchase Aventis Pharma’s Stocks (as defined below), in accordance with and subject to the
provisions of this Agreement. 

 THE PARTIES AGREE AS FOLLOWS:- 

 

	1.	Definitions 

 In this Agreement the following words and expressions shall have the following meanings:-

  

					
	1.1. “Affiliate”	 	Means :
		
		 	for Scynexis, any company or other legal entity which, now or hereafter, directly or indirectly, owns or controls, is owned or controlled by or is under common ownership or control with Scynexis. In the case of legal
entities having stocks and/or shares, ownership or control shall exist through the direct or indirect ownership and/or control of more than fifty percent of the voting stock or shares. In the case of any other legal entity, ownership and/or control
shall exist through the ability to directly or indirectly control the management and/or business of the legal entity;
		
		 	for Aventis Pharma, any company or other legal entity which, at the Execution Date or subsequently, is directly or indirectly controlled by Aventis Inc having its registered office at 300 Somerset Corporate Blvd —
08807 Bridgwater (USA) — New Jersey (State of incorporation : Pennsylvania — Federal Id Nr : 23-1699163) and/or Hoechst Aktiengesellschaft having its registered office at Braningstr. 50 — 65926 Frankfurt (Germany)
(Handelsregister : Lower Court of Frankfurt am Main — Nb of Registration : HR B 14500). In the case of legal entities having stocks and/or shares, ownership or control shall

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
		 	exist through the direct or indirect ownership and/or control of more than fifty percent of the voting stock or shares. In the case of any other legal entity, ownership and/or control shall exist through the ability to
directly or indirectly control the management and/or business of the legal entity;
		
	1.2. “Ancillary Rights”	 	any copyrights, design rights, database rights and/or similar rights that subsist in the Delivered Documents;
		
	1.3. “Assets”	 	the Patents, the Know How, the Ancillary Rights, the Stocks, and the Delivered Documents;
		
	1.4. “Biotransformation Strain”	 	the biotransformation strain cultures useful in the preparation of the Compound and more particularly defined in Appendix IV attached to the present agreement and made a part hereof.
		
	1.5. “Combination Product”	 	a Product which includes one or more active ingredients other than the Compound in combination with the Compound.
		
	1.6. “Compound”	 	a compound, or salt form thereof, covered by a composition of matter claim within the Patents, including [*] or [*].
		
	1.7. “Delivered Documents”	 	the documents and files (whether in paper, electronic or other tangible form) containing Information with regards to the Know How and Patents (both as defined below) as listed in the Appendix I attached to the present
agreement and made a part hereof .
		
	1.8. “Execution Date”	 	the date of this Agreement as written above;
		
	1.9. “Granted Patents”	 	granted and/or issued Patents (as defined below);
		
	1.10. “Holding Party”	 	the party that under the provisions of Clauses 12.1 and 12.2, does not own the Confidential Material concerned;

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
	1.11. “Information”	 	data, results, know-how, show-how, software, algorithms, inventions, designs, trade secrets, plans, forecasts, analyses, evaluations, research, technical information, concepts, techniques, processes, business
information, financial information, business plans, strategies, customer lists, marketing plans, or other information whether oral, in writing, in electronic form or in any other form;
		
	1.12. “Infringement”	 	any infringement of the Patents or the Ancillary Rights and/or misuse of the Know How;
		
	1.13. “Know How”	 	means any Information controlled by Aventis Pharma or its Affiliates that is necessary or useful for practising the Patents, including copies of relevant portions of lab notebooks, experimental data, research summaries
and reports, invention disclosures and internal and external study results, pre-clinical and clinical data, and any process, procedures, manufacturing data, CMC data, batch records, composition, method, trade secret, formula, protocol, technique and
data, including but not limited to the Delivered Documents.
		
	1.14. “Licensed Rights”	 	the Patents, the Ancillary Rights and the Know How;
		
	1.15. “Net Sales Value”	 	the sum of the gross invoice price to third party customers for sales of the Products, less: (i) rebates and discounts actually allowed or given ; (ii) tax included in the invoice or other governmental charges and duties
directly related for the sale, transportation or delivery of Products to the extent included in the invoice; (iii) amounts refunded, allowed or credited in connection with shortages or returned or rejected Products; (iii) sales commissions paid to
distributors and/or selling agents; (iv) [*] bad debt; and (v) transportation and insurance charges.

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
		 	With respect to sales of Combination Products, the Net Sales Value shall be calculated [*]. In the event that a Product is sold only as a Combination Product, the Net Sales Value shall be calculated on the basis of the
invoice price of the Combination Product multiplied by a fraction, the numerator of which shall be the [*] of Compound in the Combination Product, and the denominator of which shall be the [*] of all of the active ingredients in the Combination
Product. [*] shall be determined in accordance with Scynexis’ regular accounting methods;
		
	1.16. “Owning Party”	 	the party that owns the Confidential Material concerned as specified in Clauses 12.1 and 12.2;
		
	1.17. “Patents”	 	means
			
		 	(a)	  	the patents and patent applications listed in Appendix II attached to the present agreement and made a part hereof,
			
		 		  	and any and all foreign counterparts in the world claiming, or entitled to claim, priority from any of the patents and patent applications listed in Appendix II attached to the present Agreement and made a part hereof, and any
patents issued or issuing on any of such applications,
			
		 	(b)	  	any provisional and non-provisional applications anywhere in the world, including certificates of invention and applications for certificates of invention, claiming the Licensed Rights and any patents issued or issuing on any such
applications,
			
		 	(c)	  	any continuations, divisions, continuations-in-part, re-

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
		 		  	examinations, renewals, supplementary protection certificates, patents of addition, utility models of any of the foregoing and any patents issued or issuing thereon, and
			
		 	(d)	  	any reissues and extensions of any of the foregoing;
		
	1.18. “Patent Applications”	 	patent applications within the definition of the Patents;
		
	1.19. “Personnel”	 	means in respect of a party, its directors, officers, employees, consultants, agents, representatives, contractors and advisors;
		
	1.20. “Products”	 	any product containing the Compound whose manufacture, sale or use falls within the scope of a Valid Claim.
		
	1.21. “Revocation Proceedings”	 	any proceedings where the validity, ownership or scope of any of the Patents is at issue including counterclaims for revocation of patents, opposition proceedings and interference proceedings.
		
	1.22. “Quarter”	 	the quarterly periods ending March 31st, June 30th, September
30th and December 31st;
		
	1.23. “Stocks”	 	all stocks of the Compound owned and/or controlled by Aventis Pharma and/or its Affiliates, the intelinediates thereto, the remaining histopathology samples from the pre-clinical studies performed by Aventis Pharma, and
the Biotransformation Strain, as in Aventis Pharma’s possession at the Execution Date, which are mainly listed in Appendix III attached to the present agreement and made a part hereof;
		
	1.24. “Sub-Licensee”	 	any third party to whom Scynexis has granted a sub-licence under the Licensed Rights;
		
	1.25. “Valid Claim”	 	any claim contained in a subsisting Granted Patent that has not been held invalid or unenforceable by a final decision of a

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
		 	court or other government agency of competent jurisdiction that is unappealable or has not been appealed within the time allowed for appeal and which has not been admitted to be invalid or unenforceable through reissue
disclaimer or otherwise.

  

	2.	Licence 

  

	2.1.	Aventis Pharma hereby grants to Scynexis, with the right to grant sub-licences : 

  

	 	(i)	an exclusive world-wide licence under the Patents, and 

  

	 	(ii)	an exclusive world-wide licence under the Know-How and Ancillary Rights in the field of treatment, prophylaxis and prevention of Human Immunodeficiency Virus (HIV) and/or Acquired Immune Deficiency Syndrome (AIDS), and

  

	 	(iii)	a non-exclusive world-wide licence under the Know-How and Ancillary Rights in all fields outside the field of treatment, prophylaxis and prevention of Human Immunodeficiency Virus (HIV) and/or Acquired Immune Deficiency
Syndrome (AIDS); 

 to research, develop, manufacture, import, market, use, sell, and supply products and to perform any other
act that would infringe the Licensed Rights, were it not for the grant hereunder. 
  

	2.2.	Aventis Pharma shall upon Scynexis’ reasonable request promptly execute all documents (including executing formal licences) as may be necessary to give effect to the licences granted hereunder and to record
Scynexis as the exclusive licensee of the Licensed Rights in any country where necessary to exercise the rights under the Patents licensed hereunder. 

  

	2.3.	Within [*] after the Execution Date, Aventis Pharma shall transfer and deliver to Scynexis in good order complete copies of the patent prosecution files and copies of original title documents relating to the Patents
including the original patent office filing receipts, original certificates on grant or issue and original renewal certificates. 

  

	2.4.	Scynexis shall undertake reasonable commercial efforts to develop, register and commercialize a Product. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	2.5.	Within [*] after the Execution Date, Aventis Pharma shall deliver to Scynexis copies of all documents and files (whether in paper, electronic form or otherwise) in the possession or control of Aventis Pharma and/or its
Affiliates containing the Know How as well as the Delivered Documents listed in the Appendix I attached to the present agreement. 

  

	3.	Stocks 

  

	3.1.	On the Execution Date, Aventis Pharma shall sell and Scynexis shall purchase all right, title and interest in the Stocks. Aventis Pharma makes no representation with regard to purity or biological activity of the Stocks
provided. Scynexis acknowledges that the Stocks are sold without any express or implied warranty, including any warranty of satisfactory quality or fitness for a particular purpose, and Aventis Pharma makes no representation or warranty that the use
of the Stocks will not infringe any patent, copyright, trade mark or other proprietary right of a third party. All warranties are hereby excluded to the extent permitted by law. 

 

	3.2.	Within a reasonable period of time, and no later than [*] after the Execution Date, Aventis Pharma shall deliver the Stocks to Scynexis “Ex Works” (INCOTERMS 2000) at the Aventis Pharma premises in Vitry,
France. Scynexis shall be responsible for arranging at Scynexis’ expense, transportation, packaging and insurance of the Stocks. 

  

	3.3.	Aventis Pharma will use its best efforts to provide Scynexis with the protocol(s) in Aventis Pharma’s possession concerning the handling, storage and safety of the Stocks, which protocols are listed in Appendix I,
within [*] after the Execution Date. 

  

	4.	Technology Transfer/Non-Exclusive License Grant 

  

	4.1.	Aventis Pharma agrees to exert reasonable efforts to: 

  

	 	4.1.1.	 respond to reasonable enquiries made by Scynexis in respect of the Assets provided that scientists who worked on the Compound within Aventis Pharma
are still available, and provided further that Aventis Pharma shall not be 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
required to carry out any further research or experiment in order to respond to any such enquiry; 

  

	 	4.1.2.	procure that a Aventis Phamia contact person is reasonably available for telephone discussions, and, if reasonably necessary, meetings with Scynexis at the Aventis Pharma facilities; For the purpose of this Agreement,
the Aventis Pharma contact person shall be [*], and 

  

	 	4.1.3.	as and when reasonably requested by Scynexis, provide copies of any documents or files in the possession or control of Aventis Pharma or its Affiliates that may reasonably assist Scynexis with its understanding of the
Assets, provided that Aventis Pharma shall not be required to provide copies of any documents or files in breach of a duty of confidence owed to a third party. 

  

	4.2.	In the event that the development, making, having made, use, or sale of Compound or Products by Scynexis, its Affiliates or Sub-Licensees would infringe any intellectual property (other than the Licensed Rights) which
at the Execution Date, Aventis Pharma and/or its Affiliates own or have the right to license, Aventis Pharma hereby grants to Scynexis, a non-exclusive, world-wide, royalty-free, sub-licenseable license under such intellectual property solely for
Scynexis, and its Affiliates and Sub-Licensees to develop, make, have made, use and sell such Compound and Products. 

  

	5.	Payments 

  

	5.1.	In consideration of the licence set out in Clause 2.1, the provision of the Delivered Documents pursuant to clause 2.5 of the present agreement and the sale of the Stocks pursuant to clause 3 of the present agreement,
Scynexis shall pay to Aventis Pharma during the term hereof; 

  

	 	5.1.1.	the sum of [*] United States dollars (US $ [*]) within [*] after the Execution Date. 

  

	 	5.1.2.	the following milestone payments which shall be paid within [*] after the date that the milestone is obtained: 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
	 	  	 Milestone
	  	 Milestone Payment

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

  

	 	5.1.3.	a royalty consisting of a percentage of the Net Sales Value of Products sold by Scynexis or any Affiliate of Scynexis in a given calendar year in accordance with the conditions set forth below : 

a) for sales in any country where there is a Valid Claim, Scynexis shall pay to Aventis Pharma a royalty as defined in the table below (“Scynexis Royalty
Rate”): 
  

			
	 Annual Net Sales Value of the Products sold by Scynexis or any Affiliate of
Scynexis in such
countries
	  	 Scynexis Royalty Rate due by Scynexis

		
	On the portion of sales which is less than or equal to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by Scynexis or any Affiliate of Scynexis in such countries
		
	On the portion of sales which is above [*] to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by Scynexis or any Affiliate of Scynexis in such countries
		
	On the portion of sales which is above [*] US Dollars to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by Scynexis or any Affiliate of Scynexis in such countries

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	On the portion of sales which is above [*] US Dollars to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by Scynexis or any Affiliate of Scynexis in such countries
		
	On the portion of sales which is above [*] US Dollars to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by Scynexis or any Affiliate of Scynexis in such countries
		
	On the portion of sales which is greater than [*] US Dollars	  	[*] % of the Net Sales Value of the Products sold by Scynexis or any Affiliate of Scynexis in such countries

  

	 	5.1.4.	a royalty consisting of a percentage of the Net Sales Value of all Products sold by a Sub-Licensee in a given calendar year in accordance with the conditions set forth below : 

 

	 	a)	for sales in any country where there is a Valid Claim, Scynexis shall pay to Aventis Pharma a royalty as defined in the table below (“Sub-Licensee Royalty Rate”): 

 

			
	 Annual Net Sales Value of the Products sold by a Sub-Licensee in such
countries
	  	 Sub-Licensee Royalty Rate due by Scynexis

		
	On the portion of sales which is less than or equal to [*] US Dollars inclusive	  	[*]% of the Net Sales Value of the Products sold by a Sub-Licensee in such countries

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	On the portion of sales which is above [*] to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by a Sub-Licensee in such countries
		
	On the portion of sales which is above [*] US Dollars to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by a Sub-Licensee in such countries
		
	On the portion of sales which is above [*] US Dollars to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by a Sub-Licensee in such countries
		
	On the portion of sales which is above [*] US Dollars to [*] US Dollars inclusive	  	[*] % of the Net Sales Value of the Products sold by a Sub-Licensee in such countries
		
	On the portion of sales which is greater than [*] US Dollars	  	[*] % of the Net Sales Value of the Products sold by a Sub-Licensee in such countries

  

	5.2.	In no circumstances shall Scynexis be required to pay Aventis Pharma a royalty in respect of a unit of Product under both Clauses 5.1.3 and 5.1.4. For clarity, with respect to the distinction of the situation of a
sub-license and a collaboration which does not entail a sub-license, the parties agree that: 

  

	 	(i)	where a Product is supplied by Scynexis, its Affiliates or on behalf of Scynexis or its Affiliates to a third party which then commercializes the Product, royalties in respect of that Product shall be paid under Clause
5.1.3. 

  

	 	(ii)	Where a Product is manufactured by or on behalf of a Sub-Licensee, royalties achieved by the Sub-Licensee in respect of that Product sales shall be paid under Clause 5.1.4. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	5.3.	In the event that Scynexis, its Affiliates or a Sub-Licensee sell Compound in bulk form rather than Product in packaged form (e.g., for use in combination with another active ingredient) to an independent third party,
and Scynexis does not participate in any proceeds of the sales of the corresponding finished product, the royalty obligations of this Clause 5 shall be [*]. 

  

	5.4.	If a compulsory license is granted to a third party with respect to a Product in any country with a royalty rate lower than the royalty rate provided in this Clause 5, then the royalty rate to be paid to Aventis Pharma
in that country shall be [*]. 

  

	5.5.	If laws, rules or regulations require withholding of taxes imposed upon the payments set forth in this Agreement, Scynexis shall subtract such withholding payments from the payments due to Aventis Pharma set forth in
this Clause 5 and shall provide Aventis Pharma with documentation to allow Aventis Pharma to recover such withholding payment. 

  

	5.6.	All royalties described in this Clause 5 are subject to the following conditions; 

  

	 	5.6.1.	no royalties shall be due upon the sale or transfer among Scynexis, its Affiliates or Sub-Licensees, but in such cases the royalty shall be due and calculated upon Scynexis’ or its Affiliate’s or
Sub-Licensee’s Net Sales Value to the first independent third party; and 

  

	 	5.6.2.	no royalties shall accrue on the disposition of Products in reasonable quantities by Scynexis, its Affiliates and Sub-Licensees as samples (promotional or otherwise) or as donations (for example, to non-profit
institutions or government agencies for a non-commercial purpose). 

  

	5.7.	 The parties hereto hereby acknowledge that pursuant to [*], Scynexis has certain obligations to [*] with respect to [*] of [*]. Should, following [*],
Scynexis wish to [*] for the [*] and/or [*], Scynexis shall inform Aventis Pharma in writing in advance and provide Aventis Pharma with all information reasonably needed by Aventis Pharma to establish its interest to [*] to [*], upon terms and
conditions to be negotiated in good faith. Aventis Pharma shall have [*] from receipt of such information to inform Scynexis in writing whether it wishes to [*]. In the event that 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
Aventis Pharma confirms its interest, but Aventis Pharma and Scynexis [*] within [*] from the start of negotiations, Scynexis shall be free to [*]. Notwithstanding the above, the parties hereby
acknowledge that pursuant to the [*], Scynexis will [*] unless [*]. Should the negotiations between Aventis Pharma and Scynexis be terminated because Scynexis has informed Aventis Pharma that [*] are [*], in case Aventis Pharma wishes to [*] of [*],
Aventis Pharma may [*] (e.g. [*] or [*]) [*] to [*] and [*] Aventis Pharma (without [*] and [*]) (hereinafter the “[*]”). Such [*] shall [*] as those set forth in the present Agreement with regards to [*] (hereinafter referred to as
“[*]”) and to other [*] of the Parties (as defined below). [*] the terms and conditions [*] shall be [*]. 

  

	6.	Payment Terms 

  

	6.1.	Starting from when any of Scynexis, its Affiliates and/or a Sub-Licensee first puts the Product on the market for commercial sale in a country and for the time period royalties are due in compliance with article 5 of
the present agreement, on a country by country basis, Scynexis shall, within [*] of the end of each Quarter, 

  

	 	6.1.1.	provide Aventis Pharma with a royalty [*] for the preceding Quarter setting out the royalties payable in respect of sales of Products made during that Quarter under Clause 5; and 

 

	 	6.1.2.	pay the sums due to Aventis Pharma as set forth in such royalty statement. 

  

	6.2.	All sums payable under this Agreement shall be paid in US Dollars by wire transfer to Aventis Pharma’ bank account, details of which Aventis Pharma shall notify to Scynexis from time to time in writing.

  

	6.3.	If Products are sold or supplied by Scynexis, its Affiliates and/or Sub-Licensees in a currency other than US Dollars, the royalties payable in respect of such sales under this Agreement shall be first determined in the
currency of invoice and then converted into US Dollars at the average daily open market currency rate (commercial selling rate) as quoted in the Wall Street Journal fixing rate, issued by Reuters at 3 p.m. New York time, for the Quarter in which
such sales took place. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	7.	Records and Audits 

  

	7.1.	Scynexis shall keep and shall cause its Affiliates to keep at its normal place of business records and books of account showing the quantity, description and value of all Products sold by Scynexis and its Affiliates in
each country for a period of [*] after the sale took place. 

  

	7.2.	Scynexis shall make its records and books of account available and shall ensure that its Affiliates make their records and books of account available for inspection during normal business hours by an independent
accountant appointed by Aventis Pharma for the purpose of verifying the accuracy of any royalty-statement provided by Scynexis or its Affiliates to Aventis Pharma pursuant to Clause 6.1 in the previous [*] provided that the accountant enters into a
binding confidentiality agreement with Scynexis and or its Affiliate in the form reasonably requested by Scynexis or its Affiliate. 

  

	7.3.	Aventis Pharma shall be entitled to have inspections carried out pursuant to Clause 7.2 [*] by giving Scynexis and/or its Affiliate [*] written notice prior to each inspection. 

 

	7.4.	Aventis Pharma shall bear the cost of carrying out the inspections referred to in Clause 7.3. unless there is an error of more than [*] in any royalty statement provided by Scynexis or its Affiliate, in which case
Scynexis or its Affiliate shall promptly pay to Aventis Pharma the accountants’ reasonable fees for making the relevant inspection. If Aventis Pharma’ inspection shows that Scynexis or its Affiliate has paid more than the amounts properly
due under this Agreement, then Scynexis or its Affiliate shall be entitled to deduct such excess from the future sums payable to Aventis Pharma under this Agreement. If Aventis Pharma’s inspection reveals a deficit then Scynexis or its
Affiliate as appropriate shall promptly pay the deficit. 

  

	7.5.	Scynexis will impose record keeping and audit obligations on any Sub-Licensee, such that Scynexis will be entitled to audit the royalty statements of any such Sub-Licensee in a manner similar to that described in this
Clause 7. 

  

	8.	Representations and Warranties 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	8.1.	Each party represents and warrants to the other that it has the legal right and power to enter into this Agreement and to fully perform its obligations hereunder. 

 

	8.2.	Aventis Pharma represents and warrants to Scynexis that as of the Execution Date: 

  

	 	8.2.1.	the Patents exist and, to the best of Aventis Pharma’ knowledge, the Patents are not invalid or unenforceable in whole or in part; 

 

	 	8.2.2.	Aventis Pharma has not previously assigned, transferred, conveyed or otherwise encumbered its right, title and interest in the Assets, and it has not granted any licence or rights relating to the Assets nor is it under
any obligation to do so; 

  

	 	8.2.3.	Aventis Pharma is the sole and exclusive owner of the Assets, all of the Assets are free and clear of any liens, charges and encumbrances, and no third party has any claim of ownership or any rights with respect of the
Assets; 

  

	 	8.2.4.	to the best of Aventis Pharma’s knowledge, the practice of the inventions disclosed in the Patents and Know How does not interfere with or infringe any intellectual property rights owned or possessed by any third
party [*]; 

  

	 	8.2.5.	to the best of Aventis Pharma’s knowledge, there are no notices of infringement against Aventis Pharma, or claims, judgments or settlements against or owned by Aventis Pharma, or pending or threatened claims or
litigation, relating to the Assets; 

  

	 	8.2.6.	to the best of Aventis Pharma’ knowledge, there are presently no third parties which are infringing the Patents; 

  

	 	8.2.7.	to the best of Aventis Pharma’ knowledge, use of the Compound will not violate any law, rule or regulation; 

  

	 	8.2.8.	 Aventis Pharma has disclosed to Scynexis all reasonably relevant information regarding the Assets which Aventis Pharma had in its possession.
Furthermore, Scynexis confirms that during the term of the Option 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
Agreement, Scynexis was permitted to conduct due diligence with the assistance of Aventis Pharma Personnel. 

  

	8.3.	All payments due in respect of the prosecution, maintenance and renewal of the Patents have been paid in full at the Execution Date. 

 

	8.4.	Aventis Pharma owns or controls at least [*] of Stocks (net of all packaging). 

  

	8.5.	Scynexis confirms that [*] and [*]. 

  

	8.6.	Except as stated in Clauses 8.1 and 8.2, Aventis Pharma expressly disclaims any implied warranties of merchantability or fitness for a particular purpose of any Stocks provided to Scynexis by Aventis Pharma hereunder.

  

	8.7.	In no event shall Aventis Pharma be liable for any use by Scynexis, its Personnel, its Sub-Licensee and its Affiliates of the Stocks, or any loss, claim, damage or liability that may result from the use, handling,
storage or disposal of Stocks, except to the extent such claims or losses are attributable to Aventis Pharma’ negligence or intentional misconduct. 

  

	9.	Limitation of Liability and Indemnity 

  

	9.1.	Scynexis shall assume all risks associated with the development, manufacture, use and supply of the Products by Scynexis, its Affiliates and its Sub-Licensees and shall be responsible for all third party claims relating
to such Products including claims based upon product liability laws. 

  

	9.2.	Scynexis shall fully indemnify, and at all times keep Aventis Pharma, its Affiliates and their Personnel fully indemnified, against any and all liability, damages, claims, proceedings and/or expenses (including legal
expenses and expert’s fees) arising out of or in connection with:- 

  

	 	9.2.1.	any research, development, manufacture, use, distribution, supply and or sale of the Products and/or the Stocks and/or Compounds by Scynexis or its Affiliates or its Sub-Licensees; and/or 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	9.2.2.	any possession or use by a third party of the Products manufactured and/or supplied and/or sold by or on behalf of Scynexis, or its Affiliates or its Sub-Licensees and/or of the Stocks and/or Compounds; and/or

  

	 	9.2.3.	a breach of any of the warranties and representations given by Scynexis, pursuant to Clause 8.1 or any of its obligations under this agreement. 

 

	9.3.	Aventis Pharma shall fully indemnify and at all times keep Scynexis, its Affiliates and their Personnel fully indemnified, against any and all liability, damages, claims, proceedings, expenses (including legal expenses
and expert’s fees) arising out of or in connection with a breach of any of the warranties and representations given by Aventis Pharma pursuant to Clauses 8.1 and 8.2. 

 

	9.4.	Where in this Agreement a party (the “Party Giving the Indemnity”) gives an indemnity to the other party (the “Party Receiving the Indemnity”), such indemnity shall be subject to the following
conditions:- 

  

	 	9.4.1.	the Party Receiving the Indemnity shall notify the Party Giving the Indemnity of any claim or action covered by the relevant indemnity (a “Claim”) within [*] of becoming aware of the Claim; 

 

	 	9.4.2.	the Claim does not arise as a consequence of any breach of this Agreement by the Party Receiving the Indemnity and/or from any negligence or misconduct by the Party Receiving the Indemnity; 

 

	 	9.4.3.	the Party Giving the Indemnity is given sole conduct of the defence and settlement of any Claim; 

  

	 	9.4.4.	the Party Receiving the Indemnity does not at any time prejudice the defence of the Claim and; 

  

	 	9.4.5.	 the Party Receiving the Indemnity provides the Party Giving the Indemnity (at the cost of the Party Giving the Indemnity) with such assistance,
documents, authority and information as the Party Giving the Indemnity may 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
reasonably require in relation to the Claim and the defence or settlement of the Claim. 

  

	9.5.	Neither party shall be liable for any indirect loss or damage arising out of this Agreement or any breach of it. 

  

	10.	Infringement of the Licensed Rights 

  

	10.1.	Infringement by Third Parties. 

 (a) Each Party shall promptly inform the other Party
upon becoming aware of any Infringement or unauthorised use of the Licensed Rights, which is occurring, threatened to occur or similar. 
  

	 	(b)	In the event of any Infringement or unauthorized use referred to in Section 10.1(a), [*] or its Affiliate shall have the first right (but not the obligation) to institute and control an action based on such
Infringement or unauthorised use and shall be responsible for the cost of such action. [*] shall provide, against refund of its reasonable out-of-pocket expenses, to [*] or its Affiliates all assistance reasonably required to engage and pursue such
proceedings to a satisfactory conclusion. [*] shall not, without the prior written consent of [*], make any admission as to liability or agreement to any settlement or compromise relating to such proceedings to the extent that such settlement or
compromise would [*] under this Agreement or otherwise [*] or otherwise [*] hereunder. 

  

	 	(c)	If [*] notifies [*] in writing that it decided not to take action against the infringer, or if within [*] of notification of the Infringement or unauthorized use [*] has taken no action to enjoin or address such
Infringement or unauthorized use, [*] shall have the right, but not the obligation, to prosecute an infringement action at [*] own cost and expense. 

  

	 	(d)	 Each Party shall execute all necessary and proper documents and take such action as shall be reasonably appropriate to allow the other Party to
institute and prosecute any action for Infringement or unauthorised use which that 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
other Party is permitted to institute and prosecute under this Section 10.1, and in the case of section 10.1 (c), [*] shall, if reasonably required, [*] or [*] any such proceedings to enable
[*] to conduct the proceedings. 

  

	 	(e)	Any award or other consideration paid by third parties as a result of an infringement action shall [*]. 

  

	10.2.	Allegations of Infringement. 

 In the event of any claim against Aventis Pharma and/or
any of its Affiliates and/or against Scynexis and/or any of its Affiliates that the use of the Licensed Rights would infringe or make unauthorised use of any third party’s know-how, patents or other intellectual property rights, the Party
against whom such claim is made (the “Claim Recipient”) shall notify the other Party as promptly as possible. The Claim Recipient shall have the right to assume full responsibility, at its sole expense, for the defense of such claim and to
make any offer or agree any settlement of such claim. The Claim Recipient shall not take any action which would be detrimental to the other Party’s interests. The other Party shall provide, against refund of cash expenses, the Claim Recipient
and/or its Affiliates with all assistance reasonably required by them to engage and pursue such claim or any proceedings resulting from such claim to a satisfactory conclusion. 

 

	10.3.	Invalidity or Nullity. 

  

	 	(a)	Each Party shall promptly inform the other Party of any proceedings brought by a third party based on the invalidity or nullity of any Licensed Right including, without limitation, any action instituted by way of
counterclaim in an action for Infringement of that Licensed Right. 

  

	 	(b)	 [*] shall have the first right (but not the obligation) to control the defense of any nullity or invalidity proceedings referred to in
Section 10.3(a) above. [*] shall assist and cooperate with [*] to the extent reasonably necessary in the defense of such proceedings and against reimbursement of [*] reasonable out of pocket expenses including, without limitation, executing all
such documents and take all such steps as are reasonably necessary to enable [*] to 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
control the defense of such proceedings (including, without limitation, [*] or [*] such suit or proceedings). [*] shall not, in the case when the [*] is affected, without the express prior
written consent of [*], make any admission as to [*] or agree to any settlement or compromise relating to any such proceedings. In addition, with respect to any such proceeding when the [*] is affected, [*] shall not, without the express prior
written consent of [*], make any admission as to [*] or agreement to any settlement or compromise relating to such proceedings to the extent that such settlement or compromise [*] or otherwise [*]. 

 

	 	(c)	If [*] notifies [*] in writing that it decided not to defend any proceedings referred to in Section 10.3(a) above, or if [*] has not instituted any defense of any nullity or invalidity proceedings referred to in
Section 10.3(a) above within [*] after such proceedings have been instituted, [*] shall have the right (but not the obligation) to control the defense of such proceedings at [*] own cost and expense. 

 

	 	(d)	Without prejudice to Sections 10.3(b) and (c), the Party that controls the defense of any proceedings referred to in Section 10.3(a) shall keep the other Party fully informed as to the conduct of such proceedings
and shall in good faith: 

  

	 	(i)	consult with the other Party in relation to any decision which may affect the scope of protection conferred by the Licensed Rights including, without limitation, decisions as to strategy and settlement; and

  

	 	(ii)	provide the other Party with all information reasonably necessary for such other Party to be able to consider and give an informed opinion to the Party on, and take into account all opinions and suggestions of the other
Party relating to, any decision referred to in Section 10.3(d)(i) above. 

  

	11.	Prosecution and Maintenance of the Patents 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	11.1.	Aventis Pharma shall, at its own cost and expense, prosecute, defend in compliance with Clause 10 above, and maintain the Patents. 

  

	11.2.	Scynexis shall have the right to comment on all substantive communications with any national patent office in respect of the Patents and Aventis Pharma shall reasonably consider such comments. 

 

	11.3.	Without prejudice to Clause 11.2, Aventis Pharma shall promptly provide Scynexis with a copy of all relevant correspondence sent by Aventis Pharma following the Execution Date to any patent agent (whether internal or
external) in connection with the Patents and shall instruct any patent agent dealing with the Patents (whether internal or external) to promptly provide Scynexis with a copy of all correspondence sent by such patent agent (whether sent to a patent
office, Aventis Pharma or any other third party) in connection with the Patents. 

  

	11.4.	Subject to Clause 10, Aventis Pharma shall, at its own expense, defend any Revocation Proceedings. Aventis Pharma shall at all times consult with Scynexis on the conduct of such proceedings and shall [*] in connection
therewith. 

  

	11.5.	Aventis Pharma shall not assign or otherwise transfer any right, title or interest in the Patents, the Ancillary Rights or the Know How to any third party other than its Affiliates without the prior written consent of
Scynexis. 

  

	12.	Confidential Material 

  

	12.1.	In this Agreement, “Confidential Material” owned by Scynexis shall, subject to Clause 12.3, mean the Stocks, the License Deal Confidential Information, and all Information disclosed by Scynexis or any of its
Affiliates to Aventis Pharma or any of its Affiliates on or after the Execution Date or pursuant the Option. Agreement; and/or 

  

	12.2.	 In this Agreement, “Confidential Material” owned by Aventis Pharma shall, subject to Clause 12.3, mean all Information disclosed by Aventis
Pharma or any of its Affiliates to Scynexis or any of its Affiliates on or after the Execution Date or pursuant the Option Agreement including without limitation the Know-How and the

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
Biotransformation Strain, but excluding the Stocks (except the Biotransformation Strain). 

  

	12.3.	In this Agreement, “Confidential Material” shall not include any Information which the Holding Party can prove:- 

  

	 	12.3.1.	is or becomes public knowledge through no improper conduct on the part of the Holding Party, its Affiliates and/or their respective Personnel; 

 

	 	12.3.2.	is already lawfully possessed by the Holding Party and/or its Affiliates without any obligations of confidentiality or restrictions on use prior to the Holding Party first receiving it from the Owning Party and/or

  

	 	12.3.3.	is obtained subsequently by the Holding Party and/or its Affiliates from a third party without any obligations of confidentiality and such third party is in lawful possession of such information or materials and not in
violation of any contractual or legal obligation to maintain the confidentiality of such information or materials. 

  

	12.4.	The Holding Party shall treat and shall cause its Affiliates and Sub-Licensees if relevant to treat, all Confidential Material owned by the other party as secret and confidential and shall not use, copy or disclose to
any third party any Confidential Material owned by the other party except that:- 

  

	 	12.4.1.	Scynexis may use and disclose Confidential Material owned by Aventis Pharma and/or its Affiliates as reasonably necessary to exploit the Licensed Rights and/or the Assets and notably to its Affiliates, Sub-Licensees and
sub-contractors, provided that such Affiliates, Sub-Licensees and sub-contractors are bound by restriction of use and confidential obligations similar as those set forth in the present agreement (“Authorized Holding Third Parties”);

  

	 	12.4.2.	 Aventis Pharma may use and disclose Confidential Material owned by Scynexis as reasonably necessary to enforce its rights under this Agreement
provided that Aventis Pharma shall not disclose confidential information 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
concerning development and/or sales of the Products without the prior written consent of Scynexis (except if legally required). 

 

	 	12.4.3.	the Holding Party may disclose Confidential Material owned by the other party to those of its Personnel, Affiliates, sub-contractors and Sub-Licensees to whom such disclosure is reasonably necessary (and only disclose
that part of the Confidential Material owned by the other party whose disclosure is reasonably necessary) provided that the Holding Party shall remain responsible for procuring that its Personnel, Affiliates, sub-contractors and. Sub-Licensees and
are bound by restriction of use and confidential obligations similar as those set forth in the present agreement and also do not further disclose and/or use the Confidential Material owned by the other party for any other purpose; 

 

	 	12.4.4.	after giving written notice to the Owning Party, the Holding Party may disclose any part of the Confidential Material owned by the other party solely to the extent that it is legally required to do so pursuant to an
order of a court of competent jurisdiction or governmental authority provided that the Holding Party shall use its best endeavours to limit such disclosure and to provide the Owning Party with an opportunity to make representations to the relevant
court or governmental authority; and/or 

  

	 	12.4.5.	For the avoidance of doubt, the parties hereby confirm that Scynexis and its Affiliates, Sub-Licensees and sub-contractors may disclose Confidential Material owned by Aventis Pharma and its Affiliates to regulatory
authorities as reasonably useful to obtain regulatory and marketing approval(s) for Product(s). 

  

	12.5.	All documents, materials and other items (including items in electronic form), and any intellectual property rights therein, provided by the Owning Party to the Holding Party containing Confidential Material shall
remain the absolute property of the Owning Party. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	12.6.	The Holding Party shall, and Scynexis shall ensure that any Authorized Holding Third Parties shall maintain at all times, documents, materials and other items (including items in electronic form) containing Confidential
Material owned by the other party and any copies thereof, in a secure fashion by taking reasonable measures to protect them from theft and unauthorised copying, disclosure and without prejudice to the foregoing shall exercise at least the same
degree of care to prevent unauthorised disclosure and/or use of the Confidential Material owned by the other party as the Holding Party exercises in respect of its own confidential material of like importance. 

 

	12.7.	The Holding Party shall notify the Owning Party immediately if the Holding Party becomes aware of any unauthorised use or disclosure of, or any unauthorised access to or of any theft or loss of any copies of any
Confidential Material owned by the other party. 

  

	12.8.	The provisions of this Clause 12 shall continue for [*] and shall, for the avoidance of doubt, survive termination or expiry of this Agreement. 

 

	12.9.	Scynexis shall ensure that any and all Authorized Holding Third Parties will be bound by similar obligations as those set forth in the articles 12.3 to 12.8 with regards to the Confidential Material owned by Aventis
Pharma as defined in the article 12.2 of the present agreement. 

  

	12.10.	Scynexis shall disclose to the Independent Auditor such Confidential Material as the Independent Auditor may need to carry out its assignment as described in Clause 5.7, provided that the Independent Auditor shall enter
into a confidentiality agreement in accordance with the provisions of Clauses 5.7 and 12 hereof. 

  

	13.	Expiry and Termination 

 Commencement and Expiry 

 

	13.1.	This Agreement shall commence on the Execution Date and unless terminated earlier in accordance with its provisions, this Agreement shall expire on a country by country basis upon expiry of all the Valid Claims.

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Termination by Scynexis 

 

	13.2.	Scynexis may terminate this Agreement forthwith by giving Aventis Pharma immediate written notice of termination if Aventis Pharma commits a material breach of any provision of this Agreement and, having been notified
of such breach, fails to remedy it within [*] of notification. 

  

	13.3.	Scynexis may terminate this Agreement at any time without cause by giving Aventis Pharma ninety (90) days notice of termination. 

Termination by Aventis Pharma 
  

	13.4.	This Agreement may not be terminated by Aventis Pharma unless Scynexis has committed a serious breach of this Agreement. If Scynexis commits a serious breach of this Agreement, Aventis Pharma shall notify Scynexis
specifying the breach. If Scynexis fails to remedy the breach within 90 days of receiving notice from Aventis Pharma then Aventis Pharma may apply to the court for an order that the Agreement be terminated. However, in case Scynexis does not pay the
royalties and milestones due to Aventis Pharma in accordance with the terms and conditions set forth in the present Agreement, Aventis Pharma shall notify Scynexis specifying the breach and if Scynexis fails to remedy this breach within 90 days of
receiving notice from Aventis Pharma, then Aventis Pharma may terminate this Agreement forthwith by giving Scynexis immediate written notice of termination. 

  

	13.5.	For purpose of Clause 13.4, “serious breach” shall mean a breach:- 

  

	 	13.5.1.	for which damages would not be an effective or adequate remedy; and 

  

	 	13.5.2.	that has caused loss to Aventis Pharma and/or its Affiliates comparable with the loss that would be caused to Scynexis if this Agreement were to be terminated. 

 

	13.6.	It is already understood between the parties that a breach by Scynexis of its obligations as set forth in the article [*] of this agreement shall be considered as a serious breach. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	13.7.	Nothing in Clause 13.4 or 13.5 shall prejudice Aventis Pharma’s right to damages in respect of any breach of this Agreement by Scynexis. 

 

	13.8.	Aventis Pharma may terminate this Agreement forthwith by giving Scynexis immediate written notice of termination if either of the following events occur: 

 

	 	13.8.1.	an order is made or a resolution passed for the winding up of Scynexis (other than for the purpose of a solvent scheme of reconstruction or amalgamation); or 

 

	 	13.8.2.	a liquidator is appointed in respect of the assets and business of Scynexis. 

  

	14.	Consequences of Expiry Or Termination 

 Consequences of Expiry according to provisions
of section 13.1 of this Agreement 
  

	14.1.	On expiry of this Agreement in accordance with the provisions of section 13.1 of this Agreement, Scynexis shall have a fully paid-up, royalty free, world-wide, exclusive licence in the field of treatment, prophylaxis
and prevention of Human Immunodeficiency Virus (HIV) and/or Acquired Immune Deficiency Syndrome (AIDS) and a non-exclusive license outside this field, with the right to grant sub-licences, under the Know-How and the Ancillary Rights to research,
develop, manufacture, import, market, use, sell, and supply products and to perform any other act that would infringe the Know How or the Ancillary Rights, were it not for this licence. 

Consequences of Expiry or Termination 
  

	14.2.	On expiry or termination of this Agreement for any reason:- 

  

	 	14.2.1.	Scynexis shall within [*] of the date of termination or expiry pay to Aventis Pharma all sums due to it under this Agreement in respect of the period up to and including the date of termination including any royalties
payable on Products, and/or Combination Products and/or Compounds sold prior to or on the date of termination; 

  

	 	14.2.2.	any rights or remedies of each of the parties arising from any breach of this Agreement shall continue to be enforceable; 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	14.2.3.	the following provisions shall continue in full force and effect: Clause 1 (Definitions), Clause 6 (Payment Terms) in respect of Royalties payable pursuant to Clause 14.2.1, Clause 12 (Confidential Material), Clause 14
(Consequences of Expiry or Termination) and Clause 15 (General). 

  

	14.3.	On termination of this Agreement by Scynexis without cause pursuant to Clause 13.3, the licence granted under Clause 2.1 shall terminate automatically and Scynexis shall, and shall procure that its Affiliates and
Sub-Licensees shall, forthwith cease all activities requiring a licence under this Agreement save that Scynexis, its Affiliates and the Sub-Licensees shall be entitled to sell and dispose of any stock of finished Products or Compounds in existence
on or prior to the date of termination of the Agreement. 

  

	14.4.	On termination of this Agreement by Aventis Pharma pursuant to Clause 13.4 or Clause 13.8: 

  

	 	(i)	the license granted under Clause 2.1 shall terminate automatically and Scynexis shall, and shall procure that its Affiliates, forthwith cease all activities requiring a licence under this Agreement save that Scynexis
and its Affiliates shall be entitled to sell and dispose of any stock of Products or Compounds in existence on or prior to the date of termination of the Agreement; and 

 

	 	(ii)	in the event that Scynexis has sublicensed the Product to Sub-Licensee(s), Aventis Pharma shall grant to each Sub-Licensee a licence on terms equivalent to the sub-licence agreement between such Sub-Licensee and
Scynexis in respect of the Patents, Ancillary Rights and Know How, provided however that such Sub-Licensee is acceptable to Aventis Pharma (such acceptance not to be unreasonably withheld), and provided further that the terms of the sub-license
between such Sub-Licensee and Scynexis are not less favourable to Aventis Pharma than the licence terms contained in the present Agreement. 

  

	15.	General 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	15.1.	In this Agreement:- 

  

	 	15.1.1.	“including” means including without limitation; “include” and “includes” shall be construed accordingly. 

 

	 	15.1.2.	the headings are for convenience only and shall not affect the interpretation of this Agreement. 

  

	15.2.	Any notice or other communication given under this Agreement shall be in writing in English and shall be:- 

  

	 	15.2.1.	delivered by hand or by courier ; or 

  

	 	15.2.2.	sent by pre-paid airmail with return receipt; or 

  

	 	15.2.3.	sent by fax (confirmed by pre-paid airmail placed in the post on or on the day after the date of transmission); 

to the address or the fax number set out below or to such other address or fax number as may from time to time be notified to the other party
in writing. 
  

			
	Notices to Scynexis:	  	General Counsel
	  
 Director of Business Development

SCYNEXIS, Inc.
 Post Office Box 12878

Research Triangle Park
 North Carolina, 27709-2878

USA
	  	 SCYNEXIS, Inc.
 Post Office Box
12878
 Research Triangle Park
 North Carolina, 27709-2878

USA
 Fax : +1 919 544 8697

	  
	  
	  
	  
	Fax : +1 919 544 8697	  	
		  	Notices to Aventis Pharma:
		  	  
 Senior Director

Corporate Development
 Technology and Licensing &

Alliances

		  
		  
		  
	Copy to:	  	

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	 Aventis Pharma.
 Centre de Recherche
de Paris
 13, Quai Jules Guesde
 F- 94400 Vitry-sur-Seine

 
 France

Fax: +33 1 58 93 33 48
	  	 Copy to:
  

Legal Department
 Sanofi-Aventis

174 Avenue de France
 75013 Paris

Fax : 33 (1) 53 77 49 77

	  
	  
	  
	  
	  
	  

  

	15.3.	Any notice given under Clause 15.2 shall be deemed to have been received:- 

  

	 	15.3.1.	on the date of delivery if delivered by hand or by courier prior to 5:00 pm on a business day, otherwise on the next business day following the date of delivery; 

 

	 	15.3.2.	on the fourth business day from and including the day of posting in the case of pre-paid airmail; or 

  

	 	15.3.3.	on the next business day following the day of transmission in the case of facsimile (confirmed by pre-paid first class post/airmail as provided above). 

 

	15.4.	In Clause 15.3 business day shall mean a day that is not Saturday, Sunday and/or a public holiday in the country to which the notice is sent. 

 

	15.5.	If any provision of this Agreement is declared by any judicial or other competent authority to be void, voidable, illegal or otherwise unenforceable, the parties hereto shall negotiate in good faith to modify this
agreement so as to effect the original intent of the parties as closely as possible in mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. The
judicial or other competent authority making such determination shall have the power to limit, construe or reduce the duration, scope, activity and/or area of such provision, and/or delete specific words or phrases as necessary to render, such
provision enforceable. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	15.6.	Failure or delay by either party to exercise any right or remedy under this Agreement shall not be deemed to be a waiver of that right or remedy, or prevent it from exercising that or any other right or remedy on that
occasion or on any other occasion. 

  

	15.7.	This Agreement and all its Appendixes attached constitute the entire agreement and understanding of the parties relating to the subject matter of this Agreement and supersedes all prior oral or written agreements,
representations, understandings or arrangements between the parties relating to the subject matter of this Agreement, including the provisions of the Option Agreement with effect as of the Execution Date. 

 

	15.8.	No provision of this Agreement shall operate to:- 

  

	 	15.8.1.	exclude any provision implied into this Agreement by [*] law and which may not be excluded by [*] law; or 

  

	 	15.8.2.	limit or exclude any liability, right or remedy to a greater extent than is permissible under [*] law including in relation to (1) death or personal 

injury caused by the negligence of a party to this Agreement or (2) fraudulent misrepresentation or deceit. 

 

	15.9.	No change shall be made to this Agreement except in writing in the English language signed by the duly authorised representatives or directors of both parties. 

 

	15.10.	Nothing in this Agreement shall create, evidence or imply any agency, partnership or joint venture between the parties. 

  

	15.11.	Neither party shall act or describe itself as the agent of the other party nor shall either party have or represent that it has any authority to make commitments on behalf of the other. 

 

	15.12.	 Neither party shall assign, delegate or transfer this Agreement, other than to an Affiliate or successor, without the prior written consent of the
other party, which consent shall not be unreasonably withheld. Notwithstanding the foregoing, each 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
Party may assign, delegate or transfer this Agreement, or any of its rights or obligations relating thereto, in connection with the sale of all or substantially all of the assets to which this
Agreement relates. 

  

	15.13.	Scynexis shall not assign or transfer this Agreement to a third party unless such third party agrees to pay to Aventis Pharma (to the extent not already paid by Scynexis) the milestone payments and royalties set out in
Clause 5. 

  

	15.14.	Subject to the final sentence of this Clause, neither party shall, and shall procure that its Personnel, its Affiliates and the Personnel of its Affiliates shall not, make any announcement, or comment upon, or originate
any publicity, or otherwise provide any information to any third party (other than its legal advisors or — in the case of Scynexis — its current or potential investors) concerning this Agreement including the existence of this Agreement,
the terms of this Agreement, the performance of this Agreement and/or any dispute or disagreement relating to this Agreement, without the prior written consent of the other party except if required by law. Any detailed disclosures by Scynexis to
current or potential investors shall be subject to appropriate confidentiality arrangements substantially similar to those contained herein. 

  

	15.15.	If and when requested by Scynexis, the parties shall jointly develop a mutually satisfactory press release to be released by each of them. 

 

	15.16.	If the performance by a party of its obligations under this Agreement (other than an obligation to pay any sums due under this Agreement) is prevented, restricted, delayed or interfered with by any circumstances beyond
the reasonable control of that party, its licensees, contractors and subcontractors, then that party shall, upon giving prompt notice to the other party specifying the circumstances and obligations concerned, be excused from such performance to the
extent of such prevention, restriction, delay or interference. 

  

	15.17.	[*] and any legislation amending or replacing shall not apply in relation to any part of this Agreement or any agreement, arrangement, understanding liability or obligation arising under or in connection with this
Agreement. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	15.18.	This Agreement will be interpreted and construed in accordance with the laws of [*] (excluding its choice of law rules). Any dispute, controversy or difference arising between the parties out of, or in relation to, or
in connection with this Agreement, or any breach of this Agreement which cannot be settled between the parties within [*] on an amicable basis, shall be finally settled by the [*]. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 AGREED by the parties through their duly authorised representatives on the date written at the top of the
first page of this Agreement: 
  

									
	For and on behalf of Aventis Pharma S.A.	 		 	For and on behalf of SCYNEXIS, Inc.
					
	Signed:	 	/s/ Jean Claude MULLER	 		 	Signed:	 	/s/ Yves RIBEILL
					
	Full Name:	 	Jean Claude MULLER	 		 	Full Name:	 	Yves RIBEILL
					
	Job Title:	 	Duly Authorized	 		 	Job Title:	 	CEO & President
					
	Signed:	 	/s/ Francois CHAMBON	 		 		 	
					
	Full Name:	 	Francois CHAMBON	 		 		 	
					
	Job Title:	 	Duly Authorized	 		 		 	

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Appendix I 

Delivered Documents 
 [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Appendix II 

Patents 
 File # [*] 

Title: [*] 
 Inventors: [*] 

 

																							
	 Country
	  	 Type
	  	 Filing
	  	 Filing #
	  	 Publication #
	  	
Current status - Event [W]
	 	  	 Grant
	  	 Grant #
	 	  	 Expiry
	 
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	 	[*]	  	  	[*]	  	 	[*]	  	  	 	[*]	  

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 File # [*] 

Title: [*] 
 Inventors: [*] 

 

																	
	 Country
	  	 Type
	  	 Filing
	  	 Filing #
	  	 Publication #
	  	 Current status
	  	 Grant
	  	 Grant #
	  	 Expiry

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

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 File # [*] 

Title: [*] 
 Inventors: [*] 

 

																			
	 Country
	  	 Type
	  	 Filing
	  	 Filing #
	  	 Publication #
	  	 Current status
	  	 Grant
	  	 Grant #
	 	  	 Expiry

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

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 File # [*] 

Title: [*] 
 Inventors: [*] 

 

																					
	 Country
	  	 Type
	  	 Filing
	  	 Filing #
	  	 Publication #
	  	 Current status
	  	 Grant
	  	 Grant #
	 	  	 Expiry
	 
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	 	[*]	  	  	 	[*]	  

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 File # [*] 

Title: [*]. 
 Inventors: [*] 

 

																	
	 Country
	  	 Type
	  	 Filing
	  	 Filing #
	  	 Publication #
	  	 Current status
	  	 Grant
	  	 Grant #
	  	 Expiry

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

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 File # [*] 

Title:[*] 
 Inventors: [*] 

 

																			
	 Country
	  	 Type
	  	 Filing
	  	 Filing #
	  	 Publication #
	  	 Current status
	 	  	 Grant
	  	 Grant #
	  	 Expiry

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

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Appendix III 

Stocks 
 Compound code # [*]

 Project code # [*] 
 IUPAC Name # [*]

 Batch number # [*] 
 Batch size #
[*]  
 Batch Analysis: [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Compound code # [*] 

Project code # [*] 
 Batch number # [*]

 Batch size # [*]  
 Chemical Assay
[*] 
 Batch number # [*]  
 Batch
size # [*]  
 Chemical Assay [*] 

Chemical Structure:[*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Compound code # [*] 

Project code # [*]  
 Batch number # [*]
 
 Batch size # [*]  
 Chemical Assay
[*] 
 Chemical Structure:[*] 

Biotransformation Strain 
 [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 HISTOLOGY SAMPLES 

[*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Appendix IV 

Biotransformation Strain 
 [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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