Document:

EX-4.3

 Exhibit 4.3 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS WARRANT NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 (AS AMENDED, THE “ACT”) OR UNDER THE SECURITIES LAWS OF ANY STATE. THE SECURITIES MAY NOT BE TRANSFERRED, SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT, (B) COMPLIANCE WITH RULE 144 PROMULGATED UNDER THE ACT (OR A SUCCESSOR RULE THERETO), (C) AN EXEMPTION OR QUALIFICATION UNDER APPLICABLE SECURITIES LAWS OR (D) AN OPINION OF COUNSEL, REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. ANY ATTEMPT TO TRANSFER, SELL, PLEDGE OR HYPOTHECATE THIS SECURITY IN VIOLATION OF THESE RESTRICTIONS SHALL BE VOID. 

VIR BIOTECHNOLOGY, INC. 

AMENDED AND RESTATED 

WARRANT TO PURCHASE SERIES A-1 PREFERRED STOCK 

 

			
	Warrant Certificate No.: WPA1-1	  	Original Issue Date: September 12, 2016
		  	Amended and Restated Date: August 29, 2019

 THIS CERTIFIES THAT, for value received,
VIR BIOTECHNOLOGY, INC., a Delaware corporation (the “Company”), hereby certifies that TAKEDA VENTURES, INC., a Delaware
corporation, or its registered assigns (the “Holder”), is entitled to purchase from the Company ONE MILLION ONE HUNDRED THOUSAND (1,100,000) duly authorized, validly issued, fully paid and nonassessable shares of Series A-1 Preferred Stock, par value $0.0001 per share, of the Company (“Series A-1 Stock”) at a purchase price per share of $1.00 (the “Exercise
Price”), all subject to the terms, conditions and adjustments set forth below in this Amended and Restated Warrant (this “Warrant”). Certain capitalized terms used herein are defined in Section 1 hereof. 

RECITALS 

WHEREAS, on September 12, 2016, the Company issued to the Holder a warrant to purchase 1,100,000 shares of the
Series A-1 preferred stock, par value $0.0001 per share (Warrant Certificate No. WPA1-1), as subsequently amended on January 31, 2018 (as amended, the
“Original Warrant”); and 
 WHEREAS, the Company and the Holder desire to amend and restate the
Original Warrant in its entirety to, among other things, correct and modify certain provisions relating to the conversion of the Warrant Shares (as defined below) and certain information rights of the Holder. 

NOW, THEREFORE, that this Warrant hereby amends and restates of the Original Warrant in its entirety; and

 FURTHER, the parties to this Warrant agree as follows: 

1. DEFINITIONS. As used in this Warrant, the following terms have the respective meanings set forth below: 

(a) “Aggregate Exercise Price” means an amount equal to the product of (x) the number of Warrant Shares in respect of
which this Warrant is then being exercised pursuant to Section 3 hereof, multiplied by (y) the Exercise Price. 
 (b)
“Board” means the Board of Directors of the Company. 
 (c) “Common Stock” means the common stock, par
value $0.0001 per share, of the Company. 

 (d) “Company” has the meaning set forth in the preamble. 

(e) “Exercise Date” means, for any given exercise of this Warrant, the date on which the conditions to such exercise as set
forth in Section 3 shall have been satisfied at or prior to 5:00 p.m., New York City time, on a Business Day, including, without limitation, the receipt by the Company of the Exercise Notice, the Warrant and the Aggregate Exercise Price, if
applicable. 
 (f) “Exercise Notice” has the meaning set forth in Section 3(a)(i). 

(g) “Exercise Period” has the meaning set forth in Section 2. 

(h) “Exercise Price” has the meaning set forth in the preamble. 

(i) “Fair Market Value” means, as of any particular date: (a) the volume weighted average of the closing sales prices of
the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have been no sales of the Common Stock on any such exchange on any such day, the average of the highest bid and
lowest asked prices for the Common Stock on all such exchanges at the end of such day; or (c) if at any time the Common Stock is not listed on any domestic securities exchange, the “Fair Market Value” shall be based upon the valuation
of the Company as determined in good faith by the Board. 
 (j) “Holder” has the meaning set forth in the preamble. 

(k) “Original Issue Date” means September 12, 2016. 

(l) “Person” means any individual, sole proprietorship, partnership, limited liability company, corporation, joint venture,
trust, incorporated organization or government or department or agency thereof. 
 (m) “Pro Rata Share” means, as of any
date, a fraction, (i) the numerator of which is the number of shares of Common Stock for which the Warrant Shares issuable hereunder are convertible on such date, and (ii) the denominator of which is the aggregate number of shares of
Common Stock outstanding on a fully diluted basis on such date (assuming the conversion, exercise and exchange of all derivative securities of the Company, including all shares of Common Stock authorized for issuance under equity compensation plans
of the Company). 
 (n) “Stockholder Agreements” means (i) the Right of First Refusal and Co-Sale Agreement, dated August 25, 2017, by and among the Company and the other stockholders party thereto, as the same may be amended, modified, supplemented or replaced from time to time; and (ii) the
Voting Agreement, August 25, 2017, by and among the Company and the other stockholders party thereto, as the same may be amended, modified, supplemented or replaced from time to time. 

(o) “Warrant” means this Amended and Restated Warrant and all warrants issued upon division or combination of, or in
substitution for, this Warrant. 
 (p) “Warrant Shares” means the shares of Series
A-1 Preferred Stock or other capital stock of the Company then purchasable upon exercise of this Warrant in accordance with the terms of this Warrant. 

2. TERM OF WARRANT. At any time or from time to time prior to 5:00 p.m., New York City time, on the
tenth (10th) anniversary of the Original Issue Date or, if such day is not a Business Day, on the next Business Day (the “Exercise Period”), the Holder of this Warrant may
exercise this Warrant for all or any part of the Warrant Shares purchasable hereunder (subject to adjustment as provided herein). 

  
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 3. EXERCISE OF WARRANT. 

(a) Exercise Procedure. This Warrant may be exercised from time to time on any Business Day during the Exercise Period, for all
or any part of the unexercised Warrant Shares, upon: 
 (i) surrender of this Warrant to the Company at its then principal executive offices
(or an indemnification undertaking with respect to this Warrant in the case of its loss, theft or destruction), together with an exercise notice in the form attached hereto as Exhibit A (each, an “Exercise Notice”), duly
completed (including specifying the number of Warrant Shares to be purchased) and executed; 
 (ii) payment to the Company of the Aggregate
Exercise Price in accordance with Section 3(b) or Section 3(c), if applicable; and 
 (iii) execution and delivery of such other
documentation as required by the Company (including, without limitation, joinders to be bound to the Stockholder Agreements) which may set forth certain restrictions on transferability of the shares of capital stock acquired upon exercise, a right
of first refusal or a right of first offer of the Company and other Persons with respect to shares, and such other terms or restrictions as the Board may from time to time establish. 

(b) Payment of the Aggregate Exercise Price. Payment of the Aggregate Exercise Price shall be made, at the option of the Holder
as expressed in the Exercise Notice, by wire transfer of immediately available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise Price. 

(c) Cashless Exercise. In lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in
payment of the Aggregate Exercise Price in accordance with Section 3(b), the Holder may elect instead to receive upon such exercise the net number of shares (the “Net Number”) of Series
A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the terms set forth herein) determined according to the following formula (such exercise, a “Cashless
Exercise”): 
  

							
	                            	  	Net Number = (A x B) - (A x C)	  	
		  		  	                            B	  	
		
		  	For purposes of the foregoing formula:
			
		  	A =	  	the total number of shares with respect to which this Warrant is then being exercised.
			
		  	B =	  	the Fair Market Value of one share of Series A-1 Stock, or one share of Common Stock into which the shares of Series A-1 Stock were
converted.
			
		  	C =	  	the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

  
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 (i) Rule 144. For purposes of Rule 144(d) promulgated under the Securities Act (as
defined below), as in effect on the date hereof, assuming the Holder is not an affiliate of the Company, it is intended that the Warrant Shares issued in a Cashless Exercise shall be deemed to have been acquired by the Holder, and the holding period
for the Warrant Shares shall be deemed to have commenced on the Original Issue Date. 
 (d) Delivery of Stock Certificates.
Upon receipt by the Company of the Exercise Notice, surrender of this Warrant and payment of the Aggregate Exercise Price, the Company shall, within ten (10) Business Days thereafter, execute (or cause to be executed) and deliver (or cause to
be delivered) to the Holder a certificate or certificates representing the Warrant Shares issuable upon such exercise, together with cash in lieu of any fraction of a share, as provided in Section 3(e) hereof, or in the case of uncertificated
Warrant Shares, the Company’s stock ledger shall be updated to reflect the issuance of such Warrant Shares as soon as practicable. The stock certificate or certificates so delivered, or the stock ledger to be updated, as applicable, shall be,
to the extent possible, in such denomination or denominations as the exercising Holder shall reasonably request in the Exercise Notice and shall be registered in the name of the Holder. This Warrant shall be deemed to have been exercised and any
certificate or certificates of Warrant Shares shall be deemed to have been issued, and the Holder or any other Person so designated to be named therein shall be deemed to have become a holder of record of such Warrant Shares for all purposes, as of
the Exercise Date. 
 (e) Fractional Shares. The Company shall not be required to issue a fractional Warrant Share upon
exercise of any Warrant. As to any fraction of a Warrant Share that the Holder would otherwise be entitled to purchase upon such exercise, the Company shall pay to such Holder an amount in cash (by delivery of a certified check or by wire transfer
of immediately available funds) equal to the product of (i) such fraction multiplied by (ii) the Fair Market Value of one Warrant Share on the Exercise Date. 

(f) Delivery of New Warrant. Unless the purchase rights represented by this Warrant shall have expired, been cancelled, or been
fully exercised, the Company shall, at the time of delivery of the certificate or certificates representing the Warrant Shares being issued in accordance with Section 3(c) hereof, deliver to the Holder a new Warrant evidencing the rights of the
Holder to purchase the unexpired and unexercised Warrant Shares called for by this Warrant. Such new Warrant shall in all other respects be identical to this Warrant. 

(g) Exercise Prior to Expiration. To the extent this Warrant is not previously exercised as to all Warrant Shares subject
hereto, and if the fair market value of one share of the Series A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the terms set forth herein) is greater than the Exercise
Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 3(c) (even if not surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the
Series A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the terms set forth herein) upon such expiration shall be determined pursuant to Section 3(c). To the extent
this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 3(g), the Company agrees to promptly notify the Holder of the number of shares of Warrant Shares, if any, the Holder is to receive by reason of such
automatic exercise. 
 4. ADJUSTMENT TO NUMBER AND TYPE
OF WARRANT SHARES. The number of Warrant Shares issuable upon exercise of this Warrant shall be subject to adjustment from time to time as provided in this Section 4 (in each case, after taking
into consideration any prior adjustments pursuant to this Section 4). 

  
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 (a) Adjustment to Number of Warrant Shares Upon Dividend, Subdivision or
Combination. If the Company shall, at any time or from time to time after the Original Issue Date, (i) pay a stock dividend or make any other distribution of capital stock of the Company upon the Series
A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the terms set forth herein), or (ii) subdivide (by any stock split, recapitalization or otherwise) its outstanding
shares of Series A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the terms set forth herein) into a greater number of shares, the number of Warrant Shares issuable upon
exercise of this Warrant immediately prior to any such dividend, distribution or subdivision shall be proportionately increased. If the Company at any time combines (by combination, reverse stock split or otherwise) its outstanding shares of Series A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the terms set forth herein) into a smaller number of shares, the number of Warrant Shares issuable upon exercise of this Warrant
immediately prior to such combination shall be proportionately decreased and the Exercise Price shall be proportionality increased. Any adjustment under this Section 4(a) shall become effective at the close of business on the date the dividend,
subdivision or combination becomes effective. 
 (b) Adjustment to Number of Warrant Shares Upon Reorganization or
Reclassification. In the event of any (i) capital reorganization of the Company, (ii) recapitalization, reclassification (other than a change in par value or from par value to no par value or from no par value to par value or as
a result of a stock dividend or subdivision, split-up or combination of shares), consolidation, merger, sale of all or substantially all of the Company’s assets, or (iii) other similar transaction
(other than any such transaction covered by Section 4(a)), in each case which entitles the holders of the Series A-1 Stock (or other capital stock issuable upon exercise of this Warrant pursuant to the
terms set forth herein) to receive (either directly or upon subsequent liquidation) cash, stock, securities or assets with respect to or in exchange for such Series A-1 Stock (or other capital stock issuable
upon exercise of this Warrant pursuant to the terms set forth herein), each Warrant shall, immediately after such reorganization, reclassification, recapitalization, consolidation, merger, sale or similar transaction, remain outstanding and shall
thereafter, in lieu of or in addition to (as the case may be) the number of Warrant Shares then exercisable under this Warrant, be exercisable for the kind and number of shares of stock or other securities or assets of the Company or of the
successor Person resulting from such transaction to which the Holder would have been entitled upon such reorganization, reclassification, recapitalization, consolidation, merger, sale or similar transaction if the Holder had exercised this Warrant
in full immediately prior to the time of such reorganization, reclassification, recapitalization, consolidation, merger, sale or similar transaction and acquired the applicable number of Warrant Shares then issuable hereunder as a result of such
exercise (without taking into account any limitations or restrictions on the exercisability of this Warrant); and, in such case, appropriate adjustment (in form and substance satisfactory to the Holder) shall be made with respect to the
Holder’s rights under this Warrant to insure that the provisions of this Section 4 hereof shall thereafter be applicable, as nearly as possible, to this Warrant in relation to any shares of stock, securities or assets thereafter acquirable
upon exercise of this Warrant. The provisions of this Section 4(b) shall similarly apply to successive reorganizations, reclassifications, recapitalizations, consolidations, mergers, sales or similar transaction. The Company shall not effect
any such reorganization, reclassification, recapitalization, consolidation, merger, sale or similar transaction unless, prior to the consummation thereof, the successor Person (if other than the Company) resulting from such reorganization,
reclassification, recapitalization, consolidation, merger, sale or similar transaction, shall assume, by written instrument substantially similar in form and substance to this Warrant and satisfactory to the Holder, the obligation to deliver to the
Holder such shares of stock, securities or assets which, in accordance with the foregoing provisions, such Holder shall be entitled to receive upon exercise of this Warrant. 

(c) Adjustment to Class of Warrant Shares Upon Conversion of Series A-1
Stock. In the event that all outstanding shares of Series A-1 Stock are converted, automatically or by action of the holders thereof, into Common Stock pursuant to the provisions of the Company’s
Certificate of Incorporation, as amended from time to time, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its Common Stock pursuant to an effective registration statement under
the Securities Act, then from and after the date on which all outstanding shares of the Series A-1 Stock have been so converted, this Warrant shall be exercisable for such number of shares of Common Stock into
which the shares of Series A-1 Stock would have been converted had the shares of Series A-1 Stock been outstanding on the date of such conversion, all subject to further
adjustment thereafter from time to time in accordance with the provisions of this Warrant. 

  
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 (d) Certain Events. If any event of the type contemplated by the provisions of
this Section 4 but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features) occurs, then the Board shall make an
appropriate adjustment in the number or type, as applicable, of Warrant Shares issuable upon exercise of this Warrant so as to protect the rights of the Holder in a manner consistent with the provisions of this Section 4; provided, that
no such adjustment pursuant to this Section 4(d) shall decrease the number of Warrant Shares issuable as otherwise determined pursuant to this Section 4. 

(e) Certificate as to Adjustment. Not later than ten (10) Business Days following the receipt by the Company of a written
request by the Holder, the Company shall furnish to the Holder a certificate of an officer certifying the number of Warrant Shares or the amount, if any, of other shares of stock, securities or assets then issuable upon exercise of the Warrant. 

(f) Notices. In the event: 

(i) that the Company shall take a record of the holders of its Series A-1 Stock (or other capital stock
or securities at the time issuable upon exercise of the Warrant or the Series A-1 Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, to vote at a meeting (or by
written consent), to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security; or 

(ii) of any (a) capital reorganization of the Company, (b) recapitalization, reclassification, consolidation, merger, sale of all or
substantially all of the Company’s assets (determined on a consolidated basis), or (c) other similar transaction, in each case which entitles the holders of the Series A-1 Stock (or other capital
stock or securities at the time issuable upon exercise of the Warrant or the Series A-1 Stock) to receive (either directly or upon subsequent liquidation) cash, stock, securities or assets with respect to or
in exchange for such Series A-1 Stock (or other capital stock or securities at the time issuable upon exercise of the Warrant or the Series A-1 Stock); or 

(iii) of the voluntary or involuntary dissolution, liquidation or winding-up of the Company; 

then, and in each such case, the Company shall send or cause to be sent to the Holder at least five (5) days prior to the applicable record date or the
applicable expected effective date, as the case may be, for the event, a written notice specifying, as the case may be, (A) the record date for such dividend, distribution, meeting or consent or other right or action, and a description of such
dividend, distribution or other right or action to be taken at such meeting or by written consent, or (B) the effective date on which any occurrence described in Section 4(f)(ii) or (iii) is proposed to take place and the date, if any
is to be fixed, as of which the books of the Company shall close or a record shall be taken with respect to which the holders of record of such Series A-1 Stock (or other capital stock or securities at the
time issuable upon exercise of the Warrant or the Series A-1 Stock) shall be entitled to exchange their shares of Series A-1 Stock (or such other capital stock or
securities) for securities or other property deliverable upon such reorganization, reclassification, dissolution, liquidation or winding-up, and the amount per share and character of such exchange applicable
to the Warrant and the Warrant Shares. 

  
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 5. INFORMATION RIGHTS. Prior to the
first to occur of (v) the exercise of this Warrant for all Warrant Shares hereunder, (w) the consummation of the initial public offering of any securities of the Company, (x) when the Company first becomes subject to the periodic reporting
requirements of Section 12(g) or 15(d) of the Securities and Exchange Act of 1934, as amended, (y) a Deemed Liquidation Event (as defined in the Certificate of Incorporation of the Company, as amended from time to time), and (z) the
tenth (10th) anniversary of the Original Issue Date: 
 (a) The Company shall deliver
to the Holder: 
 (i) as soon as practicable, but in any event within one hundred eighty (180) days after the end of each fiscal year of
the Company (i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of stockholders’ equity as of the end of such year, all such financial statements
audited and certified by independent public accountants of recognized standing selected by the Board, all prepared in accordance with Generally Accepted Accounting Principles (“GAAP”); and 

(ii) as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters of
each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such fiscal quarter, all prepared in accordance with
GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with GAAP). 

(b) The Company shall permit the Holder (provided that the Board has not reasonably determined that the Holder is a competitor of the
Company), at such Holder’s expense, to meet with management to discuss the Company’s business, affairs and finances with its officers, during normal business hours of the Company as may be reasonably requested by the Holder; provided, that
the Company shall not be obligated pursuant to this Section 5(b) to provide any information that it reasonably and in good faith considers to be a trade secret or confidential information or the disclosure of which would adversely affect the
attorney-client privilege between the Company and its counsel. 
 (c) The Company shall provide to the Holder an update by the Board and a
copy of the materials, including, as applicable, notices, minutes, consents, board packages and other materials, provided to the Board in connection with any meeting of the Board; provided, that the Holder agrees to hold in confidence and trust all
information so provided and not use such information other than in connection with the monitoring of its investment in the Company. Notwithstanding the foregoing, the Company may withhold any information if access to such information could adversely
affect the attorney-client privilege between the Company and its counsel or result in disclosure of a trade secret or a conflict of interest. 

(d) Notwithstanding anything else in this Warrant to the contrary, the Company may cease providing the information set forth in this
Section 5 during the period starting with the date thirty (30) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the rules of the
Securities and Exchange Commission applicable to such registration statement and related offering; provided that the Company’s covenants under this Section 5 shall be reinstated, if such rights have not yet terminated, at such time as the
Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective. 
 6.
PREEMPTIVE RIGHTS. In connection with any round of preferred stock financing after the closing of the Series A-1 Preferred Stock financing
of the Company, subject to the terms and conditions of this Section 6 and applicable securities laws, the Company shall offer to the Holder the right to purchase up to such Holder’s Pro Rata Share of the shares of preferred stock to be
sold in such financing (the “New Preferred”). 

  
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 (a) The Company shall give notice (the “Offer Notice”) to the Holder,
stating (i) the number of shares of New Preferred to be offered, and (ii) the price and terms, if any, upon which it proposes to offer such shares of New Preferred. 

(b) By notification to the Company within ten (10) days after the Offer Notice is given, the Holder may elect to purchase, at the price
and on the terms specified in the Offer Notice, up to the Holder’s Pro Rata Share of the shares of New Preferred to be offered. The closing of any sale pursuant to this Section 6(b) shall occur within the later of ninety (90) days of
the date that the Offer Notice is given and the first date that shares of New Preferred are sold to other investors. 
 (c) The preemptive
rights in this Section 6 shall not be applicable to (i) Exempted Securities (as defined in the Company’s Certificate of Incorporation); (ii) shares of Series A-1 Stock issued pursuant to the
Series A-1 Preferred Stock Purchase Agreement, dated on or about the Original Issue Date; (iii) shares of preferred stock issued in transactions with a primary purpose other than equity financing of the
Company; and (iv) shares of Common Stock. 
 (d) The preemptive rights in this Section 6 shall terminate upon the first to occur
of (v) the exercise of this Warrant for all Warrant Shares hereunder, (w) the consummation of the initial public offering of any securities of the Company, (x) when the Company first becomes subject to the periodic reporting
requirements of Section 12(g) or 15(d) of the Securities and Exchange Act of 1934, as amended, (y) a Deemed Liquidation Event (as defined in the Certificate of Incorporation of the Company, as amended from time to time), and (z) the
tenth (10th) anniversary of the Original Issue Date. 
 (e) Transfer of
Warrant. This Warrant and all rights hereunder shall not be transferable, in whole or in part, by the Holder without the prior written consent of the Company; provided, that the Holder shall have the right to transfer this Warrant
to any of its affiliates without the consent of the Company; provided, further, that if any such affiliate shall cease to be an affiliate of this Holder, this Warrant (and any shares of Series
A-1 Stock or Common Stock received upon exercise hereof) shall immediately revert back to the Holder (or its successor in the event the Holder shall no longer exist). Any transfer of this Warrant shall be made
upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment in the form attached hereto as Exhibit B, together with funds sufficient to pay any transfer taxes in
connection with the making of such transfer. Upon such approval (if necessary), surrender and delivery and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in
the denominations specified in such instrument of assignment and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if any, not so assigned, and this Warrant shall promptly be cancelled. 

7. HOLDER NOT DEEMED A STOCKHOLDER; LIMITATIONS
ON LIABILITY. Nothing contained in this Warrant shall be construed as conferring upon the Holder the right to vote or to consent or to receive notice as a stockholder in respect of any
meeting of stockholders for the election of directors of the Company or any other matter, or any rights whatsoever as a stockholder of the Company. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the
Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. 

8. REPLACEMENT ON LOSS; DIVISION AND COMBINATION. 

(a) Replacement of Warrant on Loss. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written indemnification agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case
of mutilation, upon surrender of such Warrant for cancellation to the Company, the Company at its own expense shall execute and deliver to the Holder, in lieu hereof, a new Warrant of like tenor and exercisable for an equivalent number of Warrant
Shares as the Warrant so lost, stolen, mutilated or destroyed; provided, that, in the case of mutilation, no indemnity shall be required if this Warrant in identifiable form is surrendered to the Company for cancellation. 

  
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 (b) Division and Combination of Warrant. Subject to compliance with the
applicable provisions of this Warrant as to any transfer or other assignment which may be involved in such division or combination, this Warrant may be divided or, following any such division of this Warrant, subsequently combined with other
Warrants, upon the surrender of this Warrant or Warrants to the Company at its then principal executive offices, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the respective
Holders or their agents or attorneys. Subject to compliance with the applicable provisions of this Warrant as to any transfer or assignment which may be involved in such division or combination, the Company shall at its own expense execute and
deliver a new Warrant or Warrants in exchange for the Warrant or Warrants so surrendered in accordance with such notice. Such new Warrant or Warrants shall be of like tenor to the surrendered Warrant or Warrants and shall be exercisable in the
aggregate for an equivalent number of Warrant Shares as the Warrant or Warrants so surrendered in accordance with such notice. 
 9.
WARRANT REGISTER. The Company shall keep and properly maintain at its principal executive offices books for the registration of the Warrant and any transfers thereof. The Company may deem and treat the Person
in whose name the Warrant is registered on such register as the Holder thereof for all purposes, and the Company shall not be affected by any notice to the contrary, except any assignment, division, combination or other transfer of the Warrant
effected in accordance with the provisions of this Warrant. 
 10. NO IMPAIRMENT. The Company shall not by any
action, including through any amendment to its certificate of incorporation, through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in carrying out all such actions as may reasonably be necessary or appropriate to protect the rights of the Holder against impairment. 

11. AUTHORIZED SHARES. The Company covenants and agrees, so long as this Warrant is outstanding, the Company
shall, on or prior to the date of the exercise of any part of this Warrant, take all action necessary to reserve the requisite number of shares of its authorized and unissued capital stock, such that the number of shares of Series A-1 Stock issued upon exercise of all or any portion of this Warrant shall be duly authorized, validly issued and fully paid and non-assessable upon issuance thereof. 

12. NOTICES. All notices, requests and other communications to any party hereunder shall be in writing (including facsimile
transmission, email or similar writing) and shall be given to such party at its address, facsimile number or email address set forth below, or such other address, facsimile number or email address as such party may hereafter specify for the purpose
by notice to the other party to this Agreement. Each such notice, request or other communication shall be effective (a) if given by mail, 72 hours after such communication is deposited in the mails with first class postage prepaid, addressed as
aforesaid, (b) if given by email, immediately upon delivery of such message, or (c) if given by any other means, when delivered at the address specified in this Section 12: 

 

			
	If to the Company:	  	Vir Biotechnology, Inc.
		  	499 Illinois Street, 5th Floor
		  	San Francisco, CA 94158
		  	Attention: Vice President of Intellectual Property and Associate General Counsel
		  	E-mail: ipleasure@vir.bio

  
 9 

			
	with a copy to:	  	Cooley LLP
		  	3175 Hanover Street
		  	Palo Alto, CA 94304
		  	Attention: Laura Berezin
		  	Email: lberezin@cooley.com
		
	If to the Holder:	  	Takeda Ventures, Inc.
		  	435 Tasso Street, Suite 300
		  	Palo Alto, CA 94301
		  	Attention: Graeme R. Martin, Ph.D., President & CEO
		  	E-mail: Graeme.martin@takeda.com
		
	with a copy to:	  	Takeda Pharmaceuticals USA, Inc.
		  	95 Hayden Avenue
		  	Lexington, MA 02421
		  	Attention: General Counsel

 13. ENTIRE AGREEMENT. This Warrant constitutes the sole and entire agreement of
the parties to this Warrant with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter. 

14. SUCCESSOR AND ASSIGNS. This Warrant and the rights evidenced hereby shall be binding upon and
shall inure to the benefit of the Company and the Holder and the successors of the Company and the successors and permitted assigns of the Holder. Such successors and/or permitted assigns of the Holder shall be deemed to be a Holder for all purposes
hereunder. 
 15. NO THIRD-PARTY BENEFICIARIES. This Warrant is for the sole
benefit of the Company and the Holder and their respective successors and, in the case of the Holder, permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right,
benefit or remedy of any nature whatsoever, under or by reason of this Warrant. 
 16. HEADINGS. The headings in this Warrant
are for reference only and shall not affect the interpretation of this Warrant. 
 17. AMENDMENT AND
MODIFICATION; WAIVER. Except as otherwise provided herein, this Warrant may only be amended, modified or supplemented by an agreement in writing signed by the Company and the Holder. No waiver by the Company or the
Holder of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not
expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this
Warrant shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power
or privilege. 

  
 10 

 18. SEVERABILITY. If any term or provision of this Warrant is invalid, illegal
or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Warrant or invalidate or render unenforceable such term or provision in any other jurisdiction. 

19. NO STRICT CONSTRUCTION. This Warrant shall be construed without regard to any presumption or
rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. 
 20.
GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS. 

(a) This Warrant shall be construed in accordance with and governed by the law of the State of Delaware, without reference to principles of
conflicts of law which would result in the application of the laws of any other jurisdiction. 
 (b) The Company and the Holder irrevocably
and unconditionally submit, for themselves and their Property, to the exclusive jurisdiction of the Court of Chancery of the State of Delaware sitting in Wilmington, Delaware and of the United States District Court of the District of Delaware, and
any appellate court from any thereof, in any action or proceeding arising out of or relating to this Warrant, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding may be heard and determined in such Delaware State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
 (c) The
Company and the Holder hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out
of or relating to this Warrant in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court. 
 (d) Each party to this Warrant irrevocably consents to service of process in the manner
provided for notices in Section 12. Nothing in this Warrant will affect the right of any party to this Warrant to serve process in any other manner permitted by law. 

21. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS WARRANT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS WARRANT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 22.
COUNTERPARTS. This Warrant may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Warrant delivered by e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant. 

  
 11 

 [SIGNATURE PAGE FOLLOWS] 

  
 12 

 IN WITNESS WHEREOF, the
Company has duly executed this Amended and Restated Warrant to be executed by its duly authorized officer as of August 29, 2019. 
  

			
	VIR BIOTECHNOLOGY, INC.
		
	By:	 	 /s/ Howard Horn

	Name:	 	 Howard Horn

	Title:	 	 Chief Financial Officer

	
	AGREED AND ACCEPTED:
	
	TAKEDA VENTURES, INC.
		
	By:	 	 /s/ Michael Martin

	Name:	 	 Michael Martin

	Title:	 	 President

 EXHIBIT A 

[FORM OF EXERCISE NOTICE] 
 VIR
BIOTECHNOLOGY, INC. 
 WARRANT DATED __________________ 

The undersigned holder hereby exercises the right to purchase
                     shares of Series A-1 Preferred Stock (“Warrant Shares”) of Vir
Biotechnology, Inc., a Delaware corporation (the “Company”), evidenced by the attached warrant (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in
the Warrant. 
 1. Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as: 

                     a
“Cash Exercise” with respect to                      Warrant Shares; and/or 

                     a
“Cashless Exercise” with respect to                      Warrant Shares. 

2. Payment of Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant
Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $             to the Company in accordance with the terms of the Warrant. 

3. Delivery of Warrant Shares. The Company shall deliver to the holder
                     Warrant Shares in accordance with the terms of the Warrant and, after delivery of such Warrant Shares,
                     Warrant Shares remain subject to the Warrant. 
  

			
	Dated:                 ,     	  	Name of Holder:
		
		  	(Print)                                     
                                         
              
		
		  	By:                                     
                                         
                   
		  	Name:                                     
                                         
              
		  	Title:                                     
                                         
                 
		
		  	(Signature must conform in all respects to name of holder as specified on the face of the Warrant)

 EXHIBIT B 

[FORM OF ASSIGNMENT] 
 VIR
BIOTECHNOLOGY, INC. 
 WARRANT ORIGINALLY ISSUED
                                         
        
 WARRANT NO.
                 
 (To assign the foregoing Warrant, execute this
form and supply required information. Do not use this form to purchase shares.) 
 FOR VALUE RECEIVED, the foregoing Warrant and all
rights evidenced thereby are hereby assigned to 
  

			
	 Name:
	  	  

		  	 (Please Print)

		
	 Address:
	  	  

		  	 (Please Print)

		
	Dated:                  ,     	  	
		
	 Holder’s
Signature:                                       
      
	  	
		
	 Holder’s
Address:                                       
     
	  	

 NOTE: The signature to this Form of Assignment must correspond with the name as it appears on the face of the Warrant, without
alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.EX-10.1

 Exhibit 10.1 

INDEMNITY AGREEMENT 

THIS INDEMNITY AGREEMENT (this “Agreement”) dated as of
[                            ], 20[        ], is made
by and between VIR BIOTECHNOLOGY, INC., a Delaware corporation (the “Company”), and
[                            ] (“Indemnitee”). This Agreement terminates any and all
previous indemnification agreements entered into by and between the Company and the Indemnitee. 
 RECITALS 

A. The Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and agents.

 B. The Company’s amended and restated bylaws (as amended from time to time, the “Bylaws”) require that
the Company indemnify its directors and executive officers, and empowers the Company to indemnify its other officers, employees and agents, as authorized by the Delaware General Corporation Law, as amended (the “DGCL”), under
which the Company is organized, and such Bylaws expressly provide that the indemnification provided therein is not exclusive and contemplates that the Company may enter into separate agreements with its directors, officers and other persons to set
forth specific indemnification provisions. 
 C. Indemnitee does not regard the protection currently provided by applicable law, the
Bylaws, the Company’s other governing documents, and available insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors, officers, employees and agents of the Company may not be
willing to serve or continue to serve in such capacities without additional protection. 
 D. The Company desires and has requested
Indemnitee to serve or continue to serve as a director, officer, employee or agent of the Company, as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity. 

E. Indemnitee is willing to serve, or to continue to serve, as a director, officer, employee or agent of the Company, as the case may
be, if Indemnitee is furnished the indemnity provided for herein by the Company. 
 AGREEMENT 

NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein,
the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Definitions. 

(a) Agent. For purposes of this Agreement, the term “Agent” of the Company means any person who: (i) is or
was a director, officer, employee, agent, or other fiduciary of the Company or a subsidiary of the Company; or (ii) is or was serving at the request or for the convenience of, or representing the interests of, the Company or a subsidiary
of the Company, as a director, officer, employee, agent, or other fiduciary of a foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. 

  
 1. 

 (b) Change in Control. For purposes of this Agreement, a “Change in
Control” shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 20% or more of the total voting power represented by the Company’s then outstanding
Voting Securities, (ii) individuals who on the date of this Agreement are members of the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the
Board of Directors of the Company (the “Board”) (provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the
Incumbent Board then still in office, such new member shall be considered as a member of the Incumbent Board), or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a
merger or consolidation which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity)
at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation
of the Company or an agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all or substantially all of the Company’s assets. 

(c) Expenses. For purposes of this Agreement, the term “Expenses” shall be broadly construed and shall include,
without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’, witness, or other professional fees and related disbursements, and other out-of-pocket costs of whatever nature, actually and reasonably incurred by Indemnitee in connection with the investigation, defense or appeal of a proceeding or establishing or enforcing a right to
indemnification under this Agreement, the DGCL or otherwise, the term “Expenses” shall also include reasonable compensation for time spent by Indemnitee for which he or she is not compensated by the Company or any subsidiary or
third party: (i) for any period during which Indemnitee is not an Agent, in the employment of, or providing services for compensation to, the Company or any subsidiary; and (ii) if the rate of compensation and estimated time involved is
approved by the directors of the Company who are not parties to any action with respect to which Expenses are incurred, for Indemnitee while an Agent of, employed by, or providing services for compensation to, the Company or any subsidiary. 

(d) Independent Counsel. For purposes of this Agreement, the term “Independent Counsel” means a law firm, or a
partner (or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any
matter material to either such party, or (ii) any other party to the proceeding giving rise to a claim for 

  
 2. 

 
indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company will pay the reasonable fees and expenses of the Independent Counsel
referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

(e) Liabilities. For purposes of this Agreement, the term “Liabilities” shall be broadly construed and shall
include, without limitation, judgments, damages, deficiencies, liabilities, losses, penalties, excise taxes, fines, assessments and amounts paid in settlement, including any interest and any federal, state, local or foreign taxes imposed as a result
of the actual or deemed receipt of any payment under this Agreement. 
 (f) Proceedings. For purposes of this Agreement, the
term “proceeding” shall be broadly construed and shall include, without limitation, any threatened, pending, or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature,
and whether formal or informal in any case, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness, or otherwise by reason of: (i) the fact that Indemnitee is or
was a director or officer of the Company; (ii) the fact that any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting as an Agent; or (iii) the
fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, and in any such case described
above, whether or not serving in any such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses may be provided under this Agreement. If the Indemnitee believes in good faith
that a given situation may lead to or culminate in the institution of a proceeding, this shall be considered a proceeding under this paragraph. 

(g) Subsidiary. For purposes of this Agreement, the term “subsidiary” means any corporation, limited liability
company, or other entity, of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as an Agent. 

(h) Voting Securities. For purposes of this Agreement, “Voting Securities” shall mean any securities of
the Company that vote generally in the election of the members of the Board. 
 2. Agreement to Serve. Indemnitee will serve,
or continue to serve, as the case may be, as an Agent, faithfully and to the best of his or her ability, at the will of such entity designated by the Company and at the request of the Company (or under separate agreement, if

  
 3. 

 
such agreement exists), in the capacity Indemnitee currently serves such entity, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of
the governance documents of such entity, or until such time as Indemnitee tenders his or her resignation in writing; provided, however, that nothing contained in this Agreement is intended as an employment agreement between Indemnitee and the
Company or any of its subsidiaries or to create any right to continued employment of Indemnitee with the Company or any of its subsidiaries in any capacity. 

The Company acknowledges that it has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to and separate
from its obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as an Agent, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as an Agent. 

3. Indemnification. 

(a) Indemnification in Third-Party Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee to the
fullest extent permitted by the DGCL, as the same may be amended from time to time (but, to the fullest extent of the law, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the DGCL permitted prior to
adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding, other than a proceeding by or in the right of the Company to procure a judgment in its favor, for any and all
Expenses and Liabilities (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses and Liabilities) incurred by Indemnitee in connection with the investigation, defense, settlement or
appeal of such proceeding, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding had no reasonable cause to
believe that Indemnitee’s conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without
limitation, any indemnification provided by the Amended and Restated Certificate of Incorporation of the Company (as amended from time to time, the “Certificate of Incorporation”), the Bylaws, vote of its stockholders or
disinterested directors, or applicable law. 
 (b) Indemnification in Derivative Actions and Direct Actions by the Company.
Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest extent permitted by the DGCL, as the same may be amended from time to time (but, fullest extent permitted by applicable law, only to the extent that such
amendment permits Indemnitee to broader indemnification rights than the DGCL permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding by or in the right
of the Company to procure a judgment in its favor, against any and all Expenses actually and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement, or appeal of such proceedings, if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 3(b) in respect of any claim, issue or matter as to which
Indemnitee shall have been finally adjudged by a court competent jurisdiction to be liable to the Company, unless and only to the extent that the Chancery Court of the State of Delaware or any court in which the proceeding was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification. 

  
 4. 

 (c) [Indemnification of Related Parties. If (i) Indemnitee is or was
affiliated with one or more venture capital funds that has invested in the Company (an “Appointing Stockholder”), (ii) the Appointing Stockholder is, or is threatened to be made, a party to or a participant in any proceeding, and
(iii) the Appointing Stockholder’s involvement in the proceeding is related to Indemnitee’s service to the Company as a director of the Company or any direct or indirect subsidiaries of the Company, then, to the extent resulting from
any claim based on Indemnitee’s service to the Company as an Agent, the Appointing Stockholder will be entitled to indemnification hereunder for reasonable expenses to the same extent as Indemnitee.] 

(d) [Fund Indemnitors. The Company hereby acknowledges that the Indemnitee has certain rights to indemnification, advancement of
Expenses or insurance, provided by [Name of Fund/Sponsor], and certain of [its][their] affiliates (collectively, the “Fund Indemnitors”). In the event that the Indemnitee is, or is threatened to be made, a party to or a participant
in any proceeding to the extent resulting from any claim based on the Indemnitee’s service as an Agent, then the Company shall (i) be an indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation
of the Fund Indemnitors to advance Expenses or to provide indemnification for the same Expenses or liabilities incurred by Indemnitee are secondary), (ii) be required to advance reasonable Expenses incurred by Indemnitee, and (iii) be liable
for the full amount of all Expenses, judgments, penalties, fines, and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and any provision of the Bylaws or the Certificate of Incorporation (or
any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Fund Indemnitors. The Company irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against
the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. No advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought advancement
on or indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the
Company. The Fund Indemnitors are express third-party beneficiaries of the terms of this Section.] 
 4. Indemnification of
Expenses of Successful Party. Notwithstanding any other provision of this Agreement, in circumstances where indemnification is not available under Section 3(a) or 3(b), as the case may be, to the fullest extent permitted by law and to the
extent that Indemnitee is a party to (or a participant in) any proceeding and has been successful on the merits or otherwise in defense of any proceeding or in defense of any claim, issue or matter therein, in whole or part, including the dismissal
of any action without prejudice, the Company shall indemnify Indemnitee against all Expenses and Liabilities in connection with the investigation, defense or appeal of such proceeding. If Indemnitee is not wholly successful in such proceeding but is
successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such proceeding, the Company shall indemnify Indemnitee against all Expenses and Liabilities incurred by Indemnitee or on Indemnitee’s
behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. 

  
 5. 

 5. Partial Indemnification; Witness Indemnification. If Indemnitee is entitled
under any provision of this Agreement to indemnification by the Company for some or a portion of any Expenses and Liabilities incurred by Indemnitee in the investigation, defense, settlement or appeal of a proceeding, but is precluded by applicable
law or the specific terms of this Agreement to indemnification for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. Notwithstanding any other provision of this
Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is, by reason of Indemnitee’s acting as an Agent, a witness or otherwise asked to participate in any proceeding to which Indemnitee is not a party,
Indemnitee shall be indemnified against all Expenses incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 

6. Advancement of Expenses. To the extent not prohibited by law, the Company shall advance the Expenses incurred by Indemnitee
in connection with any proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement or statements requesting such advances (which shall include invoices received by Indemnitee in
connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be
included with the invoice) and upon request of the Company, an undertaking to repay the advancement of Expenses if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal,
that Indemnitee is not entitled to be indemnified by the Company. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the Expenses. Advances shall include any and all Expenses incurred by Indemnitee
pursuing an action to enforce Indemnitee’s right to indemnification under this Agreement or otherwise and this right of advancement, including expenses incurred preparing and forwarding statements to the Company to support the advances claimed.
Indemnitee acknowledges that the execution and delivery of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the fullest extent required by law, repay the advance (without interest) if and to the extent that it is
ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances under this Section 6 shall continue until the final
disposition of any proceeding, including any appeal therein. This Section 6 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b). 

7. Notice and Other Indemnification Procedures. 

(a) Notification of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The written notification to the Company shall include
a description of the nature of the proceeding and the facts underlying the proceeding. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or
otherwise and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement. 

  
 6. 

 (b) Request for Indemnification Payments. To obtain indemnification under this
Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification under the terms of this Agreement, and shall request payment thereof by the Company. 
 (c)
Determination of Right to Indemnification Payments. Upon written request by Indemnitee for indemnification pursuant to Section 7(b) hereof, a determination with respect to Indemnitee’s entitlement thereto shall be made in the
specific case by one of the following four methods, which shall be at the election of the Board: (1) by a majority vote of the disinterested directors, even though less than a quorum, (2) by a committee of disinterested directors
designated by a majority vote of the disinterested directors, even though less than a quorum, (3) if there are no disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion to the Board, a
copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board, by the stockholders of the Company; provided, however, that if there has been a Change in Control, then such determination shall be made by
Independent Counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). For purposes hereof, disinterested directors are those members of the Board who are not parties to the action, suit or
proceeding in respect of which indemnification is sought by Indemnitee. Indemnification payments requested by Indemnitee under Section 3 hereof shall be made by the Company no later than sixty (60) days after receipt of the written request
of Indemnitee. Claims for advancement of Expenses shall be made under the provisions of Section 6 herein. 
 (d) Application
for Enforcement. In the event the Company fails to make timely payments as set forth in Sections 6 or 7(b) above, Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s
right to indemnification or advancement of Expenses pursuant to this Agreement. In such an enforcement hearing or proceeding, the burden of proof shall be on the Company to prove that indemnification or advancement of Expenses to Indemnitee is not
required under this Agreement or permitted by applicable law. Any determination by the Company (including the Board, a committee thereof, Independent Counsel) or stockholders of the Company, that Indemnitee is not entitled to indemnification
hereunder, shall not be a defense by the Company to the action nor create any presumption that Indemnitee is not entitled to indemnification or advancement of Expenses hereunder. 

(e) Indemnification of Certain Expenses. The Company shall indemnify Indemnitee against all Expenses incurred in connection with
any hearing or proceeding under this Section 7 unless the Company prevails in such hearing or proceeding on the merits in all material respects. 

  
 7. 

 8. Assumption of Defense. In the event the Company shall be requested by
Indemnitee to pay the Expenses of any proceeding, the Company, if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent permissible in such proceeding, with counsel reasonably acceptable to
Indemnitee. Upon assumption of the defense by the Company and the retention of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect
to the same proceeding, provided that Indemnitee shall have the right to employ separate counsel in such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a written notice to
the Company stating that such counsel has reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise
actively pursued the defense of such proceeding within a reasonable time, then in any such event the fees and Expenses of Indemnitee’s counsel to defend such proceeding shall be subject to the indemnification and advancement of Expenses
provisions of this Agreement. 
 9. Insurance. To the extent that the Company maintains an insurance policy or policies
providing liability insurance for Agents (“D&O Insurance”), Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such Agent under
such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has D&O Insurance in effect or otherwise potentially available, the Company shall give prompt notice of the commencement of
such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable
as a result of such proceeding in accordance with the terms of such policies. 
 10. Exceptions. 

(a) Certain Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement to indemnify Indemnitee on account of any proceeding with respect to: (i) remuneration paid to Indemnitee if it is determined by final judgment or other final adjudication that such remuneration was in violation of law
(and, in this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore,
unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as indicated in Section 10(d) below); (ii) a final judgment rendered against Indemnitee for an accounting, disgorgement or
repayment of profits made from the purchase or sale by Indemnitee of securities of the Company against Indemnitee or in connection with a settlement by or on behalf of Indemnitee to the extent it is acknowledged by Indemnitee and the Company that
such amount paid in settlement resulted from Indemnitee’s conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, or other provisions
of any federal, state or local statute or rules and regulations thereunder; or (iii) a final judgment or other final adjudication that Indemnitee’s conduct was in bad faith, knowingly fraudulent or deliberately dishonest or constituted
willful misconduct (but only to the extent of such specific determination); or (iv) on account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any
personal profit or advantage to which Indemnitee is not legally entitled. For purposes of the foregoing sentence, a final judgment or other adjudication may be reached in either the underlying proceeding or action in connection with which
indemnification is sought or a separate proceeding or action to establish rights and liabilities under this Agreement. 

  
 8. 

 (b) Claims Initiated by Indemnitee. Any provision herein to the contrary
notwithstanding, the Company shall not be obligated to indemnify or advance Expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee against the Company or its Agents and not by way of defense, except
(i) with respect to proceedings brought to establish or enforce a right to indemnification or advancement under this Agreement or under any other agreement, provision in the Bylaws or the Certificate of Incorporation or applicable law, or
(ii) with respect to any other proceeding initiated by Indemnitee that is either approved by the Board or Indemnitee’s participation is required by applicable law. However, indemnification or advancement of Expenses may be provided by the
Company in specific cases if the Board determines it to be appropriate. 
 (c) Unauthorized Settlements. Any provision herein
to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a proceeding effected without the Company’s written
consent. Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement; provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability for
indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such proceeding and determines in good faith that such settlement is not in the best interests of the Company and its stockholders. 

(d) Securities Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not be obligated
pursuant to the terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act of 1933, as amended (the
“Act”), or in any registration statement filed with the Securities and Exchange Commission under the Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation S-K
currently generally requires the Company to undertake in connection with any registration statement filed under the Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under
the Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and to be
bound by any such undertaking. 
 (e) Prior Payments. Any provision herein to the contrary notwithstanding, the Company
shall not be obligated pursuant to the terms of this Agreement to indemnify or advance Expenses to Indemnitee under this Agreement for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity
provision, expect with respect to any excess beyond the amount paid under any insurance policy or indemnity policy. 

  
 9. 

 11. Nonexclusivity and Survival of Rights. The provisions for indemnification
and advancement of Expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the Certificate of Incorporation, Bylaws or other
agreements, both as to action in Indemnitee’s official capacity and Indemnitee’s action as an Agent, in any court in which a proceeding is brought, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as
an Agent and shall inure to the benefit of the heirs, executors, administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be binding on the Company and its successors and assigns
until terminated in accordance with its terms. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly to
assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment, alteration or repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits greater
indemnification or advancement of Expenses than would be afforded currently under the Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits
so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent assertion or employment of any other right or remedy by Indemnitee. 

12. Term. All agreements and obligations of the Company contained herein will continue during the period Indemnitee is an Agent
of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise) and will continue thereafter so long as Indemnitee will be
subject to any proceeding by reason of his or her corporate status as an Agent, whether or not he or she is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this
Agreement. This Agreement will be binding on and inure to the benefit of and be enforceable by the parties of this Agreement and their respective successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise
to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors, and personal and legal representatives. 

The Company is required to maintain insurance as provided in Section 9 while the Indemnitee is an Agent and for five (5) years after
the date Indemnitee shall have ceased to serve as an Agent. 
 13. Subrogation. In the event of payment under this Agreement,
the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything that may be reasonably necessary
to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. 

  
 10. 

 14. Interpretation of Agreement. It is understood that the parties hereto
intend this Agreement to be interpreted and enforced so as to provide indemnification and advancement of Expenses to Indemnitee to the fullest extent now or hereafter permitted by law. 

15. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason
whatsoever, (a) the validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all
portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by
the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof. 
 16. Amendment and
Waiver. No supplement, modification, amendment, or cancellation of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 17.
Notice. Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to or served upon the parties hereto shall be in writing and, if by electronic transmission, shall be deemed
to have been validly served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have been validly served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been
validly served, given or delivered three (3) business days after deposit in the United States mail, as registered or certified mail, with proper postage prepaid and addressed to the party or parties to be notified at the addresses set forth on
the signature page of this Agreement (or such other address(es) as a party may designate for itself by like notice). If to the Company, notices and demands shall be delivered to the attention of the Secretary of the Company. 

18. Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware,
as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. 
 19.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute but one and the same Agreement. Only one such counterpart
need be produced to evidence the existence of this Agreement. 
 20. Headings. The headings of the sections of this Agreement
are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction hereof. 

  
 11. 

 21. Entire Agreement. Subject to Section 11 hereof, this Agreement
constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject matter of this
Agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, Bylaws, the DGCL and any other applicable law, and shall not be deemed a substitute therefor, and does not diminish or
abrogate any rights of Indemnitee thereunder. 
 22. Contribution. To the fullest extent permissible under
applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such proceeding; and/or (ii) the
relative fault of the Company and Indemnitee in connection with such event(s) and/or transaction(s). 
 23. Consent to
Jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware
(the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of
any action or proceeding arising out of or in connection with this Agreement, (iii) agree to appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, an agent in the State of Delaware as such
party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any
objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an
improper or inconvenient forum. 

  
 12. 

 IN WITNESS WHEREOF, the
parties hereto have entered into this Agreement effective as of the date first above written. 
  

					
	COMPANY:
	
	VIR BIOTECHNOLOGY, INC.

 
					
		
	By:	 	 

 
					
	      	 	Name:	 	 

 
					
	      	 	Title:	 	 
	
	 Address:
 499 Illinois Street, Suite
500
 San Francisco, California 94158

  

	
	INDEMNITEE:
	
	   

	Signature of Indemnitee
	
	 
	Print or Type Name of Indemnitee
	
	Address:
	
	 
	
	 
	
	 

 [Signature Page to Vir Biotechnology, Inc. Indemnity Agreement]

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