Document:

EX-10.18

 Exhibit 10.18 

WU [***] 
 CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT,
MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 

EXCLUSIVE LICENSE AGREEMENT 

PREAMBLE 
 This agreement
(“Agreement”) is made and entered into, effective as of the date of last signature below, (“Effective Date”) by and between: Washington University, a corporation established by special act of the Missouri General Assembly
approved February 22, 1853 and acts amendatory thereto, having its principal offices at One Brookings Drive, St. Louis, Missouri 63130 (hereinafter referred to as “WU”); and Sana Biotechnology, Inc. a corporation organized and
existing under the laws of the State of Delaware, having its principal offices at 188 East Blaine Street, Suite 400, Seattle, WA 98102 (hereinafter referred to as “Licensee”) and the following correspondence addresses, each a
“Party” or collectively the “Parties” of this Agreement: 
  

			
	[***]	  	[***]

 License Issue Fee: [***] 

License Maintenance Fee: Licensee will pay the License Maintenance Fees to WU as follows until the First Commercial Sale of the first Licensed Product: 

 

	•	 	 [***] on the [***] anniversaries of the Effective Date; and 

 

	•	 	 [***] on the [***] anniversaries of the Effective Date; and 

 

	•	 	 [***] on the [***] anniversaries of the Effective Date; and 

 

	•	 	 $[***] on the [***] aniversary of the Effective Date and every anniversary thereafter until a First Commercial
Sale. 

 Milestones and Milestone Payments: On a Licensed
Product-by-Licensed Product basis, for the first [***] Licensed Products as distinguished by whether or not such product would require a different BLA to be submitted to
the FDA due to differing composition: [***] 
 Milestone payments shall be due whether the milestones are achieved by Licensee or a Sublicensee or Affiliate
of Licensee. In addition, if Licensee is not required to conduct a specific clinical trial, then Licensee shall make that skipped milestone payment upon achievement of the next milestone event (in addition to payment for such next milestone). 

Royalty Rate: [***]% 
 Minimum Royalty: Following the First
Commercial Sale Licensee of the first Licensed Product, Licensee will make the following Minimum Royalty payments to WU. 
  

	•	 	 [***] on the [***] anniversary of the Effective Date following a First Commercial Sale; and

  

	•	 	 [***] on the [***] anniversary of the Effective Date following a First Commercial Sale; and

  

	•	 	 [***] on the [***] anniversary of the Effective Date following a First Commercial Sale; and

  

	•	 	 [***] on the [***] anniversary of the Effective Date following a First Commercial Sale and every anniversary of
the Effective Date thereafter until the last to expire Valid Claim which covers a Licensed Product. 

 Sublicensee Revenue percentage: 
  

	 	•	 	 [***] percent ([***]%) of all Sublicensing Revenue if the Sublicense is executed prior to [***]; and

  

	 	•	 	 [***] percent ([***]%) of all Sublicensing Revenue if the Sublicense is executed after [***].

 Patents and Patent Applications within Patent Rights: See Exhibit C. 

Field: Diagnosis, prevention and treatment of human disease or disorders. Notwithstanding anything to the contrary and for the avoidance of doubt, the Field
shall not include the commercialization of Licensed Products that are (i) veterinary medicines or (ii) research tools. 
 Territory: Worldwide.

 Term: The term of this Agreement shall commence on the Effective Date and continue until the last day that at least one Valid Claim exists. 

RECITALS 
 A. WU
possesses certain Patent Rights (as defined below). 
 B. Licensee has developed, or within [***] months following the Effective Date
will develop, a plan to research, develop and manufacture, products based on the Patent Rights, which plan will be attached hereto as Exhibit A, and which plan will be updated if regulatory approval is obtained, to include the plan to promote,
import, sell and/or market such products (the “Development Plan”). 
 C. Licensee possesses the desire, and possesses or has
or plans to obtain the knowledge, expertise, experience and resources, to carry out the Development Plan (as it may be amended from time to time), to meet the milestones set forth in Exhibit D hereto (subject to extension as provided in Exhibit D
hereto) and to otherwise meet its diligence obligations hereunder with respect to products based on the Patent Rights. 
 D. Licensee
desires to obtain from WU certain licenses to the Patent Rights, and WU desires to grant such licenses to Licensee. 
 TERMS AND
CONDITIONS 
 NOW, THEREFORE, in consideration of the premises, covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Definitions. 

As used in this Agreement, the following terms have the meaning ascribed to them below: 

  
 2 

 1.1 “Agreement” is defined in the Preamble above. 

1.2 “Affiliate” means an entity that now or hereafter, directly or indirectly, controls or is controlled by or is under common
control with a Party to this Agreement whether by beneficial ownership, contract, or otherwise. 
 1.3 “BLA” means, with
respect to a Licensed Product and a jurisdiction, approval or authorization from the relevant governmental authority to market and sell such Licensed Product in the Field in such jurisdiction. 

1.4 “Calendar Half” means each six-month period of a calendar year, or portion
thereof, beginning on January 1 or July 1. 
 1.5 “Claims” is defined in Section 11.1 below. 

1.6 “Combination Products” a Licensed Product that is sold for a single price in combination with another Therapeutically
Active Pharmaceutical Ingredient as a single product. 
 1.7 “Commercially Reasonable Efforts” means, with respect to
the efforts to be expended with respect to a specified objective, those reasonable, diligent, good faith efforts to accomplish such objective as a similarly situated biotechnology company would normally use to accomplish a similar objective taking
into account all relevant considerations. 
 1.8 “Confidential Information” is defined in Section 7.1 below. 

1.9 “Development Plan” is defined in Recital B above. 

1.10 “Effective Date” is defined in the Preamble above. 

1.11 “Elected Patent Rights” is defined in Section 9.3 below. 

1.12 “Election Notice” is defined in Section 9.3 below. 

1.13 “EMA” means the European Medicines Agency, and any successor governmental authority having substantially the same
function. 
 1.14 “FDA” means the United Stated Food and Drug Administration, and any successor governmental authority
having substantially the same function. 
 1.15 “EU5” means France, Germany, Italy, Spain, and the
United Kingdom. 
 1.16 “Field” is defined in the Preamble above. 

1.17 “First Commercial Sale” means the earlier to occur of the earliest date on which a Sale of a Licensed Product is
consummated pursuant to this Agreement. 
 1.18 “Humanitarian Use” means the practice of Patent Rights in the humanitarian
field (i.e. prevention or treatment of disease in humans) (a) to manufacture Licensed Products anywhere in the world for the sole and express purposes of distribution and use of such Licensed Products in one or more Qualified Developing
Countries, and (b) to sell or otherwise distribute Licensed Products or use solely in one or more Qualified Developing Countries; provided, however, that sales and distribution of Licensed Products shall not be deemed for Humanitarian
Purposes unless products are made available to otherwise underserved populations at locally-affordable prices.  

  
 3 

 1.19 “License Issue Fee” is defined in the Preamble above. 

1.20 “Licensed Product” means any product the manufacture, use, sale or import of which by
Licensee and/or Sublicensee that would, in the absence of this Agreement, infringe, at least one Valid Claim of an issued patent or at least one Valid Claim of a pending patent application. For clarity, with respect to a claim of a pending patent
application, “infringed” refers to activity that would infringe such Valid Claim if it were contained in an issued patent. 

1.21 “Licensee” is defined in the Preamble above. 

1.22 “Minimum Royalty” is defined in the Preamble above. 

1.23 “Net Sales” means the gross value of compensation and payments, whether in cash or in kind,
received by Licensee or its Sublicensees for Sales of Licensed Products, less all Permissible Deductions. 
 1.24
“NMPA” means China’s National Medical Product Administration, formerly known as the China Food and Drug Administration, and any successor governmental authority having substantially the same function. 

1.25 “Patent Rights” means, subject to Section 9.3 below, (a) the patents and patent applications listed in the
Preamble above, and (b) any divisionals, continuations, Continuations-in-Part (as defined below), or substitute applications, any patents issued or granted from any
such patent applications, and any reissues, renewals, reexamination, extension (including by virtue of any supplementary protection certificate) of any such patents, and any confirmation patents, inventor’s certificates, applications for
inventor’s certificate or registration patents or patents of addition based on any such patents, and all foreign counterparts or equivalents in any country or jurisdiction of any of the foregoing patent applications and patents. “Continuation-in-Part” means any claims of any continuation-in-part patent
application to the extent the claims are entirely supported in the parent application’s original specification and entitled to the parent application’s priority date. 

1.26 “Permissible Deductions” means, and shall be limited to, [***]. 

1.27 “PMDA” means Japan’s Pharmaceutical and Medical Device Agency, and any successor governmental authority having
substantially the same function. 
 1.28 “Qualified Developing Country” means any one of those countries identified as low- income or lower-middle income by the World Bank Group at the time of the Effective Date; provided, however, that “Qualified Developing Country” shall not include any of the
following: (a) current and future Organization for Economic Cooperation and Development (OECD) countries, (b) all current and future members of the European Union not otherwise members of the OECD; (c) People’s Republic of China,
India, Malaysia, Russian Federation, Singapore, South Korea and Taiwan ; and (d) any other country of the world that, as a result of its progress and economic development after the Effective Date, Licensee reasonably determines should be
excluded from the definition of Qualified Developing Country. 
 1.29 “Qualified Humanitarian Organization” shall mean any
governmental agency, non-governmental agency or other not-for-profit organization that has as one of its bona fide missions to
address the public health or economic development needs of underserved populations. 

  
 4 

 1.30 “Sale” means any transaction in which a Licensed
Product is exchanged or transferred to another person or entity for any value, payment or compensation of any type or kind. Notwithstanding the forgoing, Sales shall not include and shall expressly exclude transfers by Licensee: (a) for the
purpose of researching, developing, or testing a Licensed Product or for charitable or compassionate use purposes, provided that such testing is not conducted for or on behalf of any end user and further provided that Licensee receives no payment
for such Licensed Product in excess of the fully burdened (i.e. direct and indirect) costs of producing and transporting such materials and/or Licensed Product; (b) to a Sublicensee of Affiliate for distribution or resale, but the subsequent
transaction with an end user shall be included in Sales; and (c) to others for marketing/promotional purposes, provided that the foregoing is not performed for or on behalf of any end user and further provided that Licensee receives no payment
for such Licensed Product in excess of the fully burdened (i.e. direct and indirect) costs of producing and transporting such materials and/or Licensed Product. 

1.31 “Royalty Rate” is defined in the Preamble above. 

1.32 “Sublicensing Revenue” means all value, payment or compensation of any type or kind, other than
earned royalties or profit shares on Net Sales, received by Licensee from or through its Sublicensees for the licensing or cross-licensing of the Patent Rights granted herein by WU, provided that earned royalties are separately paid by Licensee to
WU on the entire value of Net Sales of Licensed Products including the portion attributed to profit shares on Net Sales. Sublicensing Revenue shall include, without limitation, all fees, milestone payments, cash equivalents, equities, securities,
equipment, property, rights or anything else of value received by Licensee as sublicensing consideration from or for the benefit of any Sublicensee for the licensing or cross-licensing of the Patent Rights granted herein by WU, but in all cases
excluding equity investments at fair market value, bona fide loans (unless and until forgiven but only if forgiven with ten years of issuance of the loan), funding or reimbursement for actual costs of future bona fide research or development
relating directly to the Licensed Product , as evidenced by a detailed budget provided to WU prior to receipt of any such funding, reimbursement for patent expenses at their
out-of-pocket cost solely for licensed Patent Rights reimbursed by a Sublicensee, or those portions of milestone payments received in consideration for the achievement
of a milestone event substantially similar to a milestone event for which a milestone payment is due to WU upon the achievement thereof under this Agreement, provided that, for clarity, the portion of any milestone payment received by Licensee in
excess of the amount of the milestone payment that is due to WU for achievement of such substantially similar milestone shall be treated as Sublicensing Revenue and will be subject to the applicable
Non-Royalty Sublicensing Revenue Percentage. 
 1.33
“Territory” is defined in the Preamble above. 
 1.34 “Therapeutically Active
Pharmaceutical Ingredient” shall mean any substance used in a finished pharmaceutical product, intended to furnish pharmaceutical activity or otherwise have direct effect in the cure, mitigation, treatment or prevention of disease or to
have effect in restoring, correcting or modifying physiologic function in human beings. For avoidance of doubt, excipients and inert ingredients without disease-specific therapeutic or pharmacologic effects shall not be considered Therapeutically
Active Pharmaceutical Ingredients. 
 1.35 “WU” is defined in the Preamble above. 

1.36 “WU Indemnitee” is defined in Section 11.1. 

  
 5 

 1.37 “Valid Claim” means a claim (a) of a
pending patent application within the Patent Rights that has not been pending for more than [***] years from the first office action on the merits (i.e., other than a restriction requirement) in the relevant patent family, and has not been abandoned
or finally rejected without the possibility of appeal or refiling or without such appeal having been taken or refiling having been made within the applicable time period specified for appeal, or (b) of an issued and unexpired patent within the
Patent Rights that has not been (i) held invalid, permanently revoked, unpatentable or unenforceable by a court or other governmental agency of competent jurisdiction in a decision or order that is not subject to appeal or has not been appealed
within the applicable time period specified for appeal, (ii) canceled, disclaimed or rendered unenforceable through disclaimer or otherwise, or (iii) abandoned. 

2. License Grants and Restrictions. 

2.1 Patent Rights. Subject to the terms and conditions of this Agreement, WU hereby grants to Licensee, and
Licensee hereby accepts, a non-transferable, exclusive (subject to Section 2.4 below) and royalty-bearing license under the Patent Rights and for the Term of this Agreement, to research, develop, make,
have made, sell, offer for sale, have sold, use, have used, export and import Licensed Products solely in the Territory and in the Field. For the avoidance of doubt, Licensee acknowledges and agrees that no license is granted or implied under the
Patent Rights outside the Field or the Territory. In exploiting the rights granted hereunder, Licensee agrees to consider opportunities to pursue Humanitarian Use, whether such Humanitarian Use is performed by or through Licensee or a Qualified
Humanitarian Organization. 
 2.2 Limitations on Patent Rights License. WU retains its right to use the Patent
Rights to make, have made, use, and import Licensed Products in the Territory and in the Field for research and educational purposes including collaboration with other nonprofit entities, which shall expressly exclude any commercial purposes. 

2.3 Clarifications. For the avoidance of doubt, the license “to have made” granted in Section 2.1
above means that the Licensee, its Affiliates and any Sublicensees may contract with one or more third parties to make Licensed Products for Licensee, its Affiliates or any Sublicensees for Sale or offer for Sale by Licensee within the scope of its
sales operations or for research and development purposes. In any such event, Licensee shall require all such third parties to be bound to a written confidentiality agreement that contains non-use and
nondisclosure obligations that are at least as restrictive as those that are contained in Article 7 below before any Confidential Information is disclosed to such third parties. 

2.4 Government Rights. In accordance with Public Laws 96-517, 97-256 and 98-620, codified at 35 U.S.C. §§ 200-212, the United States government retains certain rights to inventions
arising from federally supported research or development. Under these laws and implementing regulations, the government may impose requirements on such inventions. Licensed Products embodying inventions subject to these laws and regulations sold in
the United States must be substantially manufactured in the United States. Upon Licensee’s request, and at Licensee’s expense, WU agrees to cooperate reasonably with Licensee in connection with attempting to secure a waiver of such
obligations. The license rights granted in this Agreement are expressly made subject to these laws and regulations as amended from time to time. Licensee shall be required to abide by all such laws and regulations. 

2.5 Reservation of Rights and Restrictions. Nothing in this Agreement provides Licensee with any ownership rights
of any kind in the Patent Rights. All ownership rights in the Patent Rights shall remain the sole and exclusive property of WU. No license or right is granted by WU, by implication or otherwise, to any patent other than those patents and patent
applications within the Patent Rights. Other than the licenses expressly granted in Section 2.1 above, all rights in and to the Patent Rights are hereby reserved by WU. Licensee agrees not to practice or use Patent Rights outside the scope of
the license expressly granted herein. Licensee further agrees that it will not do any act or thing which would in any way contest WU’s ownership in, or otherwise derogate from the ownership by WU, of any rights in the Patent Rights. In
furtherance of the foregoing but without limiting the generality thereof, Licensee agrees not to register or attempt to register in the Territory or elsewhere any ownership rights in the Patent Rights or to assist any third party to do so. 

  
 6 

 2.6 Markings. Licensee shall ensure that appropriate markings,
such as “Patent Pending” or the Patent Rights patent numbers or application serial numbers, appear, in accordance with each country’s patent laws, on all Licensed Products (or their packaging, as appropriate) sold by or on behalf of
Licensee. 
 2.7 Sublicensing; Affiliates. 

2.7.1 General. Subject to the further provisions of this Section 2.7, Licensee may grant
sublicenses of the licenses granted to Licensee in Section 2.1 above to Affiliates or to third parties by entering into a written agreement with any such third party (each such agreement shall be referred to herein as a
“Sublicense” and each such third party shall be referred to herein as a “Sublicensee”). Each direct Sublicensee of Licensee may grant a further Sublicense under the Sublicense granted by Licensee; provided, however,
that no such further Sublicensee shall have the right to grant any further Sublicense without the reasonable written consent of WU, such consent not to be unreasonably withheld, delayed or conditioned (each such third party receiving a further
Sublicense shall be referred to herein as a “Sub-Sublicesee;” for clarity, each Sub-Sublicensee shall be a “Sublicensee” for the purposes of this
Agreement). 
 2.7.2 Requirements of each Sublicense Agreement. Licensee agrees that it will
require all Sublicensees to comply with the terms and conditions set forth in this Agreement and applicable to Licensee. In furtherance of the foregoing, but without limiting the generality thereof, each Sublicense shall, for the express benefit of
WU, bind the Sublicensee to the applicable terms and conditions no less favorable to WU than those between WU and Licensee contained in this Agreement that are relevant to a Sublicense. To the extent that any term, condition, or limitation of any
Sublicense is inconsistent with the terms, conditions and limitations contained in this Agreement, such term, condition, and/or limitation shall be null and void against WU. Without in any way narrowing or limiting the scope of the foregoing
provisions of this Section 2.7.2, all Sublicenses shall contain the terms and conditions set forth in Exhibit B hereto. Within [***] days after the effective date of any Sublicense, Licensee shall provide WU a complete copy of the Sublicense
including, without limitation, any and all exhibits and/or attachments thereto, provided, that Licensee may redact any non-financial terms not relevant to obligations owed to WU hereunder. If the
Sublicense is written in a language other than English, the copy of the Sublicense shall be accompanied by a complete translation written in English. Upon delivery of such translation to WU, Licensee shall be deemed to represent and warrant to WU
that such translation is a true and accurate translation of the Sublicense. 
 2.7.3 Survival of
Sublicenses. At Licensee’s written request, any Sublicense granted by Licensee under this Agreement will remain in effect in the event that this Agreement is terminated prior to expiration. Any such Sublicensee will automatically become
a direct licensee of WU under the rights originally Sublicensed to it by Licensee provided the Sublicensee did not cause the termination of this Agreement and the Sublicensee agrees to comply with the terms of this Agreement and to fulfill all the
responsibilities of Licensee hereunder. Each such Sublicensee shall be an intended third party beneficiary of this Section 2.7.3. In the event that this Agreement is terminated, all amounts subsequently due to Licensee with respect to any such
Sublicense granted under the licenses granted under this Agreement shall become paid directly to WU following the date of termination. 

  
 7 

 2.7.4 Primary Liability. Licensee will be
primarily liable to WU for all acts, errors or omissions of a Sublicensee. Any act, error or omission of a Sublicensee that would be a breach of this Agreement if imputed to Licensee will be deemed to be a breach of this Agreement by Licensee. 

2.7.5 Rights of Affiliates. Licensee may exercise its rights, perform its obligations and pursue its
remedies under this Agreement either directly or through one or more of its Affiliates that Licensee designates as a licensed Affiliate under this Agreement by providing written notice to Licensor of such designation (each such Affiliate, a
“Licensed Affiliate”). A Licensed Affiliate will have the benefit of all rights (including all licenses) and remedies of Licensee under this Agreement. Accordingly, in this Agreement, “Licensee” will be interpreted to mean
“Licensee or its Licensed Affiliates” where necessary to give each Licensed Affiliate the benefit of the rights and remedies provided to Licensee in this Agreement; provided, however, that in any event Licensee will be primarily liable to
WU for all acts, errors or omissions of a Licensed Affiliate. Any act, error or omission of a Licensed Affiliate that would be a breach of this Agreement if imputed to Licensee will be deemed to be a breach of this Agreement by Licensee. The right
of Licensee to exercise its rights, perform its obligations and pursue its remedies under this Agreement through one or more of its Affiliates is in addition to and not in lieu of the right of Licensee to grant a Sublicense to Affiliates as provided
in Section 2.7.1. 
 3. Development Plan. 

3.1 Development Plan. Licensee represents and warrants that (a) the Development Plan contains Licensee’s
good faith, bona fide plans, as of the date that is [***] months following the Effective Date, for researching and developing, and if regulatory approval is obtained, commercializing Licensed Products, and (b) Licensee has or plans to obtain
the knowledge, expertise, experience and resources to fully carry out such plans. 
 3.2 Progress Reports.
Licensee will deliver to WU written reports on Licensee’s progress against the Development Plan no later than [***] and [***] of the [***] calendar years following the calendar year in which the Effective Date falls, and no later than [***] of
each calendar year thereafter. Each such report will set forth Licensee’s progress against the Development Plan in reasonable detail including, without limitation, the [***]. Each such report will identify [***]. Upon reasonable request by WU
from time-to-time, Licensee will meet with WU to consult with WU about Licensee’s then-current progress against the Development Plan. 

3.3 Changes to Development Plan. Licensee may amend, change or otherwise modify the Development Plan upon written
notice to WU. 
 4. Diligence. 

4.1 Licensee agrees to, throughout the term of this Agreement, use Commercially Reasonable Efforts, itself or through its Affiliates,
Sublicensees or contractors, to develop, manufacture, promote and sell Licensed Products, in each instance throughout the Territory and in the Field and to achieve the diligence milestones set forth in Exhibit D. 

4.2 Should WU conclude in its reasonable judgment that Licensee fails to meet the diligence requirements set out in Section 4.1
above (as may be extended pursuant to Exhibit D), WU may notify Licensee of its conclusions and the basis therefore. The Parties shall then undertake to resolve WU’s concerns through good faith negotiations for a period of [***] days. Should
such negotiations fail to result in Licensee achieving a level of diligence consistent with its obligations under Section 4.1 above, in WU’s sole reasonable judgment, then WU may terminate this Agreement as provided in Article 13 below.

  
 8 

 5. Fees, Payments and Royalties. 

5.1 License Issue Fee. Within [***] days after the Effective Date, Licensee agrees to pay the License Issue Fee to
WU. Such License Issue Fee shall be non-refundable and shall not be credited against any other payments that may be due hereunder. 

5.2 License Maintenance Fee. On or before [***] of the Effective Date and until the First Commercial Sale of the
first Licensed Product occurs, Licensee agrees to pay the License Maintenance Fee to WU. All License Maintenance Fees shall be non-refundable and shall not be credited against any other payments that may be
due hereunder. 
 5.3 Royalties. 

5.3.1 Licensed Products. For each Licensed Product made or sold by or for Licensee, its’ Affiliate
and/or Sublicensee within the Territory, Licensee agrees to pay WU an earned royalty equal to the Royalty Rate of Net Sales if there is a Valid Claim in at least one of the country of manufacture or country of Sale of such Licensed Product. Such
earned royalties on Net Sales in each Calendar Half shall be paid by Licensee within [***] days after the end of such Calendar Half. 

5.3.2 Stacking Royalties. In the event that Licensee makes a royalty payment to one or more third
parties for any patent rights (or know-how rights licensed under the same agreement as such patent rights, but only prior to the expiration of the last valid claim of such patent rights) needed to practice,
use, make, sell, offer to sell, import or otherwise exploit any Licensed Product, Licensee would be entitled to deduct from the royalties due to WU up to [***]percent ([***]%) of the royalty Licensee actually pays to such third parties subject to
the requirement that the Royalty Rate for the royalties paid to WU hereunder shall not be reduced below [***] percent ([***]%) as a result of any such deductions. 

5.3.3 Combination Products. The Royalty Rate for Combination Products shall be determined by the Parties
in good faith, taking into account the relative fair market value contribution of the Licensed Product and the other Therapeutically Active Pharmaceutical Ingredient in such Combination Product. 

5.3.4 Minimum Royalty Rate. The Royalty Rate for royalties paid to WU hereunder shall not be
reduced below [***] ([***]%) as a result of the Stacking Royalty and/or Combination Product provisions in Sections 5.3.2 and 5.3.3.  

5.4 Minimum Royalties. Commencing with the [***] anniversary of the Effective Date following the First Commercial
Sale of the first Licensed Product and continuing thereafter throughout the Term, Licensee agrees to pay WU a minimum royalty equal to the Minimum Royalty for each such anniversary of the Effective Date as an advance against the royalties due under
Section 5.3.1 and/or 5.3.2 and/or 5.3.3 above that are paid to WU by Sana over the ensuing [***] period. Such Minimum Royalties shall be due within [***] days after the applicable anniversary. 

5.5 Milestone Payments. Licensee agrees to pay WU milestone payments in the amounts set forth in this
Section 5.5 within [***] days after the date that the applicable milestone set forth below in the Preamble is achieved; provided, however, that in the case of achievement of a milestone by a Sublicensee, such [***] day period shall be extend to
sixty [***]. 

  
 9 

 5.6 Clarifications. For the avoidance of doubt, no multiple royalty
will be required to be paid because a Licensed Product or its manufacture, use, Sale or importation or performance is covered by more than one Valid Claim or patent or patent application within the Patent Rights. A Sale of a Licensed Product will be
deemed to have been made at the time Licensee or a Sublicensee (or anyone acting on behalf of or for the benefit of Licensee or its Sublicensees) first invoices, ships, or receives value for a Licensed Product. In order to ensure that WU obtains the
full amount of royalty payments contemplated in this Agreement, in the event of a Sale of any Licensed Product internally and not for resale between Licensee, its Affiliates or any Sublicensee or other third party with whom Licensee has any
agreement or arrangement regarding consideration (including but not limited to an option to purchase stock, stock ownership, division of profits, or special rebates or allowances), the gross value of the Sale for purposes of calculating Net Sales
shall be deemed to be the fair market value of the Licensed Product. 
 5.7 Sublicensing Revenue Obligations.  

5.7.1 Licensee shall pay to WU the applicable percentage of Sublicensing Revenue identified in the Preamble above, after
application of the terms of Section 5.7.2, to the extent applicable, within [***] days of the end of the Calendar Half in which Licensee receives the Sublicensing Revenue. 

5.7.2 To the extent that a payment is made under a Sublicense that grants both a sublicense under the Patent Rights and
a license or sublicense under other intellectual property rights for technology, or materials, then Licensee shall calculate reasonably and in good faith the portion(s) of overall consideration in the transaction that will be considered Sublicensing
Revenue versus other consideration that is not Sublicensing Revenue based on the relative value of the Patent Rights as compared to the other intellectual property rights or material licensed or sublicensed by Licensee under such Sublicense in
consideration for which such payment was made. Licensee shall notify WU in writing of its calculation (“Sublicense Income Calculation Notice”) within [***] days of receipt of Sublicense Consideration and shall provide such
supporting detail and documentation as Licensee deems appropriate to support its calculation, provided that WU may reasonably request additional information and documentation from Licensee to support its Sublicense Income Calculation Notice if WU
reasonably disputes the calculation because of insufficient information. Licensee shall not be obligated to disclose to WU confidential terms of any other license agreements or confidential information regarding its products or technology. If WU
reasonably disputes Licensee’s calculation, the matter shall be escalated to senior management for resolution, and if the matter remains unresolved after such escalation then, within [***] days of WU’s receipt of the Sublicense Income
Calculation Notice, then WU may invoke baseball arbitration as provided below. The matter shall be resolved by baseball arbitration under the Final Offer Arbitration Supplementary Rules of the AAA
(also referred to as Baseball or Last Best Offer Arbitration Supplementary Rules). To the extent that any of the procedures set forth above would be duplicated under such Supplementary Rules, such procedures shall not be repeated under the
Supplementary Rules; provided that in any event the simultaneous exchange of final offers under paragraph 3 of such Supplementary Rules as in force as of September 2015 (or similar final offer process in a future version of the Supplementary Rules)
shall in any event occur and not be considered duplicative over this paragraph. The arbitrators are not entitled to modify a proposal, or average proposals, or do anything other than to select one Party’s proposal or the other Party’s
proposal. The arbitrators shall choose the Party’s proposal that more fairly allocates total consideration paid in the overall transaction at issue between the value of the Patent Rights versus the value of the other intellectual property
licensed or sublicensed by Licensee under the applicable 

  
 10 

 
agreement, taking into account all relevant factors, including without limitation scientific, intellectual property-related and commercial factors. The decision in the arbitration shall finally
settle the matter (i.e. it shall be final and binding on the Parties, enforceable in any court of competent jurisdiction). The Parties shall share the fees of the Arbitrators equally. If WU reasonably disputes Licensee’s calculation and WU has
not invoked baseball arbitration as provided above to resolve the matter within [***] days of WU’s receipt of the Sublicense Income Calculation Notice, then Licensee’s calculation of portion(s) of the overall consideration in the
transaction that will be considered Sublicensing Revenue versus other consideration that is not Sublicensing Revenue Sublicense Income shall be final and binding upon WU. 

6. Place and Method of Payment; Reports and Records; Audit; Interest. 

6.1 Method of Payment. All dollar ($) amounts referred to in this Agreement are expressed in United States dollars.
All payments to WU shall be made in United States dollars by check or electronic transfer payable to “Washington University.” Any Sales revenues for Licensed Products in currency other than United States dollars shall be converted to
United States dollars at the conversion rate for the foreign currency as published in the Eastern edition of The Wall Street Journal as of the last business day in the United States of the applicable Calendar Half or at such other conversion
rate(s) as Licensee uses generally in its business for reporting sales and as reasonably agreed by WU. 
 6.2 Place of
Payment. Checks shall reference WU [***] and shall be sent to: 
 [***] 

All payments shall include the WU Contract Number to ensure accurate crediting to Licensee’s account. Electronic transfers shall be made to a bank account
designated in writing by WU. 
 6.3 Reports. Within [***] days after the end of each Calendar Half in which a
Licensed Product is Sold or made, Licensee shall deliver to WU, a written report setting forth the calculation of all amounts due to WU under Sections 5.3 and 5.5 above for such Calendar Half. For Licensed Products, each such report shall show, at a
minimum, [***]. 
 6.4 Books and Records. Licensee shall maintain complete and accurate books of account and
records that would enable an independent auditor to verify the amounts paid as royalties, fees and payments under this Agreement. The books and records for a Calendar Half must be maintained for [***] years following the last day of such Calendar
Half. Upon reasonable notice by WU, Licensee must give an independent, certified public accountant appointed by and representing WU and reasonably acceptable to Licensee access to all books and records relating to Sales of Licensed Products by
Licensee to conduct, at WU’s expense, an audit or review of those books and records during regular business hours. All such audits may be made no more than once each calendar year at reasonable times and on reasonable advance notice. No
accounting period shall be subject to audit more than one time hereunder. No such audit of a Calendar Half may be conducted more than [***] years after the last day of such Calendar Half, and no such audit may be conducted more than [***] calendar
years following the year in which termination or expiration of this Agreement occurs. If any such audit or review determines that Licensee has underpaid royalties by [***]% or more for any Calendar Half, Licensee shall (a) [***] for the costs and
expenses of the independent, certified public accountant in connection with the review and audit, and (b) [***]. 

  
 11 

 6.5 Interest and Collection. Any amounts not paid by Licensee to
WU when due shall accrue interest, from the date [***] days after the balance is due, at an interest rate of [***]% per month or portion of month. In addition, Licensee will reimburse WU for all reasonable costs and expenses incurred (including
reasonable attorneys’ fees) in collecting any overdue amounts. 
 6.6 Foreign Taxes. Payments shall be paid
to WU free and clear of all foreign taxes. If laws, rules or regulations of any foreign jurisdiction require withholding of income taxes of other rates imposed upon payments set forth in this Agreement, Licensee shall make such withholding payments
as required and without subtracting such withholding payments from such payments to WU. Licensee shall submit appropriate proof of payment of the withholding rates to WU within a reasonable period of time. Licensee shall use efforts consistent with
its usual business practices to minimize the extent of any withholding taxes imposed under the provisions of the current or any future double taxation treaties or agreement between foreign countries, and the Parties shall cooperate with each other
with respect thereto, with the appropriate Party under the circumstances providing the documentation required under such treaty or agreement to claim benefits thereunder. 

7. Confidentiality. 
 7.1
Definition of Confidential Information. The Parties acknowledge that, prior to and during the Term of this Agreement, the Parties may disclose to one another scientific, technical, trade secret, business, or other
information which is treated by the disclosing Party as confidential or proprietary, including but not limited to unpublished Patent Rights patent applications (hereinafter referred to as “Confidential Information”). Both Parties
agree that in order to ensure that each Party understands which information is deemed to be confidential, all Confidential Information will be in written form and clearly marked as “Confidential,” and if the Confidential Information is
initially disclosed in oral or some other non-written form, it will be confirmed and summarized in writing and clearly marked as “Confidential” within [***] days of disclosure. The receiving Party
shall hold such Confidential Information in confidence and shall treat such information in the same manner as it treats its own confidential information but not less than with a reasonable degree of care. In recognition that WU is a non-commercial, academic institution, Licensee agrees to limit to the extent practicable the delivery of Licensee Confidential Information to WU. WU retains the right to refuse to accept any such information or data
from Licensee which it does not consider to be essential to this Agreement or which it believes to be improperly designated, for any reason, but such refusal shall not eliminate the obligation of the individual making such a determination from
treating such information as confidential hereunder where such information has been read by such individual. The Confidential Information provided to the receiving Party will remain the property of the disclosing Party, and will be disclosed only to
those persons necessary for the performance of this Agreement. 
 7.2 Exclusions. Confidential Information does
not include information that (a) was known to the receiving Party without obligations of confidentiality prior to receipt from the disclosing Party as evidenced by the receiving Party’s records; (b) is or becomes part of the public
domain through no act by or on behalf of the receiving Party; (c) is lawfully received by the receiving Party from a third party without any obligations of confidentiality, and/or (d) comprises identical subject matter to that which had
been originally and independently developed by the receiving Party personnel without knowledge or use of any Confidential Information as evidenced by the receiving Party’s records. 

7.3 General Obligations. Subject to Section 2.3 above and to Sections 7.5 and 7.6 below, the receiving Party
agrees that during the term of this Agreement and forever thereafter it will (a) refrain from disclosing any Confidential Information of the disclosing Party to third parties, (b) disclose Confidential Information of the disclosing Party
to only those directors, officers, employees, advisors, consultants and subcontractors of the receiving Party necessary for the receiving Party to use the Confidential Information 

  
 12 

 
in accordance with this Agreement and who are subject to restrictions on use and disclosure at least as restrictive as those set forth in this Agreement, (c) keep confidential the
Confidential Information, and (d) except for use in accordance with the licenses and other rights which are expressly granted in this Agreement, refrain from using Confidential Information. 

7.4 No License. By disclosing the Confidential Information to the other Party, the disclosing Party does not grant
any express or implied rights to the other Party under any patents, copyrights, trademarks, or trade secrets other than the licenses expressly granted herein. Each Party reserves, without prejudice, the ability to protect its rights under any such
patents, copyrights, trademarks, or trade secrets. 
 7.5 Judicial and Securities Law Procedures. The receiving
Party may, to the extent necessary, disclose the disclosing Party’s Confidential Information in accordance with a judicial or other governmental rule, regulation or order, provided that the receiving Party (a) in the case of disclosures
other than those required by securities laws, rules, regulations or orders or the rules of any securities exchange or market on which a receiving Party’s securities are listed or traded, either (i) gives the disclosing Party reasonable
notice (to the extent reasonably practicable and legally permissible) prior to such disclosure to allow the disclosing Party a reasonable opportunity to seek a protective order or equivalent, or (ii) obtains written assurance from the
applicable judicial or governmental entity that it will afford the Confidential Information of the disclosing Party an appropriate level of protection afforded under applicable law or regulation and (b) in the case of disclosures required by
securities laws, rules, regulations or orders or the rules of any securities exchange or market on which a receiving Party’s securities are listed or traded, the receiving Party takes reasonable steps, upon the advice of securities counsel, to
limit disclosure of or seek confidential treatment for such Confidential Information. 
 7.6 Permitted
Disclosures. Licensee may, to the extent necessary, use and disclose the Confidential Information of WU (a) to secure governmental approval to clinically test or market a Licensed Product, (b) if applicable, to secure patent
protection for an invention within the Patent Rights, (c) to actual or potential Sublicensees or contractors performing services with respect to Licensed Products, and their respective directors, officers, employees, advisors, consultants and
subcontractors, provided such actual or potential Sublicensees or contractors first agree in writing to be bound by terms of confidentiality that are at least as restrictive as the terms of confidentiality set forth in this Agreement, (d) to
actual or potential investors, lenders or other financing sources, licensees, sublicensees and acquirers, and their respective directors, officers, employees, advisors, consultants and subcontractors, provided such actual or potential investors,
lenders or other financing sources, licensees, sublicensees and acquirers first agree in writing to be bound by terms of confidentiality that are at least as restrictive as the terms of confidentiality set forth in this Agreement. Licensee will, in
any such event, take all reasonably available steps to maintain the confidentiality of the disclosed WU Confidential Information and to guard against any further disclosure. 

8. Representations and Warranties. 

8.1 Authority. Each of WU and Licensee represents and warrants to the other of them that (a) this Agreement
has been duly executed and delivered and, as of the Effective Date, constitutes a valid and binding agreement enforceable against such Party in accordance with its terms, (b) no authorization or approval from any third party is required in
connection with such Party’s execution, delivery, or, as of the Effective Date, performance of this Agreement, and (c) as of the Effective Date, the execution, delivery, and performance of this Agreement does not violate the laws of any
jurisdiction or the terms or conditions of any other agreement to which it is a party or by which it is otherwise bound. 
 8.2
Compliance with Laws. Licensee represents and warrants that it will (a) use the Patent Rights only to exploit the license rights granted in Section 2.1 in accordance with the provisions of this Agreement and with
such laws, rules, regulations, government permissions and standards as may be applicable thereto in the Territory and in the Field, and (b) otherwise comply with all laws, rules, regulations, government permissions and standards as may be
applicable to Licensee in the Territory with respect to the performance by Licensee of its obligations hereunder. 

  
 13 

 8.3 Reports and Statements. Licensee warrants that all reports
and/or statements provided by Licensee hereunder are true and correct and are certified true and correct by Licensee upon delivery to WU. 

8.4 Additional Warranties of Licensee. Licensee represents and warrants that (a) it has obtained, or will
obtain Effective Date, the insurance coverage required by Article 12 below, (b) as of the Effective Date, there is no pending litigation and no claims threatened in writing against it that impair its ability or capacity to perform and fulfill
its duties and obligations under this Agreement, and (c) it has as of the Effective Date raised [***] U.S. dollars through the sale of its equity. 

8.5 Additional Warranties of WU. WU represents and warrants that (a) it has in place an intellectual property
policy that provides for its ownership (subject to any rights retained by the U.S. government by operation of law) of the Patent Rights and as of the Effective Date, WU solely owns the Patent Rights; (b) as of the Effective Date, there is no
known pending litigation against WU or, to the knowledge of WU, any WU inventor relating to the Patent Rights, and WU has not received any notice of any third party claims against WU challenging WU’s ownership or control of the Patent Rights;
(c) as of the Effective Date, there are no known claims, judgments or settlements against WU, (d) it has obtained assignments from all WU inventors named in patent applications and patents within the Patent Rights assigning to WU all their
right, title and interest in and to the Patent Rights and any inventions contained therein, and (e) it has the authority and right to enter into and perform its obligations under this Agreement and grant the licenses granted to Licensee herein.

 9. Application, Prosecution and Maintenance of Patent Rights. 

9.1 Patent Applications. [***] has the sole right to control the preparation, filing, prosecution, issue and
maintenance of Patent Rights patents and applications. Subject to compliance by [***] with the terms and conditions of this Agreement (including, without limitation, Section 9.2 below), [***] will (a) prosecute and maintain the
applications and patents within the Patent Rights, and (b) prepare, file and prosecute additional applications within the Patent Rights as [***] may reasonably request, in [***] name at [***] sole cost and expense. [***] will select qualified
outside patent counsel and corresponding foreign associates reasonably acceptable to [***] to prepare, file, prosecute and maintain U.S. patents and patent applications and foreign counterparts within the Patent Rights. [***] will (a) instruct
patent counsel to copy [***] on all substantive correspondence, or otherwise provide [***] with a copy of correspondence, in connection with the prosecution of the Patent Rights, including correspondence from the United States Patent and Trademark
Office (USPTO) and any other patent office, as well as copies of proposed responses to such correspondence in order to provide [***] a reasonable opportunity to review and comment on proposed submissions to any patent office before the submission is
filed, (b) consult with [***] regarding the prosecution of patent applications within the Patent Rights, (c) give [***] an opportunity to review and comment on the text of each patent application before filing, and (d) supply [***]
with a copy of the application as filed, together with notice of its filing date and serial number. [***] will keep [***] reasonably informed of the status of Patent Rights patents and applications. [***] shall give [***] the opportunity to provide
comments on and make requests of [***] concerning the preparation, filing, prosecution, protection, defense and maintenance of the Patent Rights, and [***] shall seriously consider such comments and requests; however, final decision-making authority
shall vest in [***] . [***] shall have the exclusive right and discretion, on a Licensed Product-by-Licensed Product and jurisdiction-by-jurisdiction basis, to elect whether to obtain any patent term extension (including, e.g., a supplementary protection certificate) of the Patent Rights covering such License Product under in
accordance with the applicable laws of any such jurisdiction in the Territory. [***] agrees to use commercially reasonable efforts 

  
 14 

 
to execute any documents and to take any additional actions as [***] may reasonably request in connection therewith. [***] shall provide [***] with at least [***] days prior written notice before
applying for any patent term extension or supplementary protection certificate for any Patent Right. All costs associated with such extensions shall be borne by [***]. 

9.2 Costs and Expenses. Subject to Section 9.3 below, [***] agrees to reimburse [***] for all reasonable costs
and expenses incurred by [***] in connection with the preparation, filing, prosecution, issue, extension and/or maintenance of patents and applications within the Patent Rights [***] the term of this Agreement. [***] agrees to pay [***] the amount
of any such reimbursement within [***] days after receipt by [***] of documentation for any such costs and expenses, which [***] shall provide to [***] from
time-to-time. 
 9.3 Failure to
Reimburse. [***] may elect not to reimburse [***] for amounts due under Section 9.2 in respect to one or more Patent Rights patents and/or patent applications in one or more jurisdictions only by giving [***] notice of such
election at least [***] days before the date on which the applicable cost or expense is to be incurred by [***] (each an “Election Notice”). For purposes of this Section 9.3, a cost or expense shall be deemed to be incurred by
[***] on the earlier of (a) the date [***] actually pays the cost or expense, or (b) the date [***] becomes obligated to pay the cost or expense (which, for example, shall be the date [***] engages a third party to perform any service
which gives rise to any such cost or expense if such engagement is non-cancelable). Any such Election Notice shall specify the Patent Rights patents and/or patent applications and the jurisdictions to which
such Election Notice relates (“Elected Patent Rights”). In the event any Election Notice is given by Licensee, the term “Patent Rights” shall be modified to exclude, as applicable, such Elected Patent Rights, in each
instance as of the date the Election Notice is given. Accordingly, and for the avoidance of doubt, as of the date the Election Notice is given, [***]. 

9.4 Community of Interest. The Parties desire to avail themselves to the maximum extent possible of all applicable
legal privileges. The Parties intend that information regarding the preparation, filing, prosecution and maintenance of the applications and patents within the Patent Rights (“Shared Information”) that would otherwise be subject to
one or more legal privileges or protections is and shall be subject to those same privileges and protections despite the fact that it has been developed by or exchanged between or among them and/or their joint or independent counsel. The Parties
further intend that Shared Information is and shall be subject to the joint defense doctrine and common interest/community of interest doctrine. The Parties acknowledge that the legal privileges and protections pertaining to Shared Information are
held jointly by all Parties, and that no individual Party is authorized to waive any such privilege or protection. Further, this Agreement shall not affect the ethical, fiduciary or other obligations inherent in those attorney-client relationships
other than to extend the cloak of confidentiality and privilege to the Shared Information as provided herein. Each Party agrees that Shared Information obtained from another Party or developed jointly shall be used only for the preparation and
prosecution of the Licensed Patents and for no other purpose. Each Party agrees to keep Shared Information as the Confidential Information of the other Party. 

10. Infringement, Enforcement, and Defense. 

10.1 Notice of Infringement. Throughout the term of this Agreement, each of WU and Licensee agree to give the other
prompt notice of (a) any known or suspected infringement of the Patent Rights in the Territory, and (b) any claim that a Licensed Product infringes the intellectual property rights of a third party. 

  
 15 

 10.2 Patent Rights. 

10.2.1 Enforcement. [***] will have the right, but not the obligation, at its sole expense, to
attempt to stop promptly any known or suspected infringement of the Patent Rights in the Territory. [***] may initiate and prosecute actions in its own name or, if required by law and upon receipt of [***] written consent (such consent not to be
unreasonably withheld), in [***] name against third parties for infringement of the Patent Rights in the Territory through outside counsel of [***] choice who are reasonably acceptable to [***]. [***] shall consult with [***] prior to and in
conjunction with all significant issues, shall keep [***] informed of all proceedings, and shall provide copies to [***] of all pleadings, legal analyses, and other papers related to such actions. Upon [***] request, [***] will provide reasonable
assistance to [***] in prosecuting, resolving and/or settling any such actions, including but not limited to joining as a party if necessary or desirable. If [***] fails or declines to take any action under this Section 10.2.1 within a
reasonable time after learning of the infringement of the Patent Rights, [***] shall have the right (but not the obligation) to take appropriate actions including, without limitation, filing a lawsuit, at [***] cost, provided that prior to bringing
any action, [***] shall consider in good faith the reasons [***] has failed to bring such action. [***] will provide reasonable assistance to [***] in prosecuting, resolving and/or settling any such actions. 

10.2.2 Restrictions on Settlement. Notwithstanding anything in this Agreement to the contrary,
neither Party may, without the advanced written consent of the other Party, not to be unreasonably withheld, conditioned or delayed, settle, compromise, or otherwise enter into any form of settlement (or other similar agreement) regarding any claim
of action brought under Section 10.2.1 above that either (a) admits liability on the part of the other Party, (b) otherwise negatively affects the rights of the other Party or imposes any liability, restrictions or obligation upon the
other Party, (c) requires any financial payment by the other Party, (d) concedes or otherwise portions the Territory and/or (e) grants rights or concessions to a third party to the Patent Rights or any Licensed Products. 

10.2.3 Proceeds. If a Party obtains any value, payment or compensation of any type or kind as a
result of any claim brought pursuant to Section 10.2.1 above, such Party shall pay to the other Party [***]. 
 11. Indemnification. 

11.1 Licensee agrees to indemnify, defend, reimburse and hold harmless WU, WU personnel, WU’s Affiliates, and each of their
respective trustees, faculty, staff, employees, students, directors, officers, agents, successors and assigns (altogether the “WU Indemnitees”) from, for and against any and all judgments, settlements, losses, expenses, damages
and/or liabilities and any and all court costs, attorneys’ fees, and expert witness fees and expenses (“Losses”) that a WU Indemnitee may incur from any and all allegations, claims, suits, actions or proceedings (the
“Claims”) arising out of, relating to, or incidental to [***], but excluding Losses to the extent [***]. The obligations set forth in this Section 11.1 shall survive termination of this Agreement, shall continue even after
assignment of rights and responsibilities, and shall not be limited by any provision of this Agreement outside this Article 11. 

  
 16 

 11.2 A WU Indemnitee seeking indemnification under this Agreement shall:
(a) give Licensee prompt written notice of the Claim; (b) cooperate with the Licensee, at Licensee’s expense, in connection with the defense and settlement of the Claim; and (c) permit Licensee to control the defense, settlement
or compromise of such Claim, including the right to select defense counsel. In no event shall Licensee compromise or settle any Claim in a manner which admits fault or negligence on the part of WU or a WU Indemnitee without the prior written consent
of WU, such consent not to be unreasonably withheld, conditioned or delayed. Neither Party shall have any liability under this Article 11 with respect to Claims settled or compromised without complying with the terms of this Article 11. 

12. Insurance. 
 12.1
Throughout the Term of this Agreement and for a period of [***] years thereafter, Licensee shall obtain and maintain comprehensive general liability and product liability insurance, naming WU as an additional insured, with carrier(s) having at
least A.M. Best ratings/class sizes of A/VII and in the following minimum annual limits: [***]. 
 12.2 Licensee will provide WU with
a certificate of insurance within [***] of WU’s written request following execution of this Agreement. The certificates must provide that Licensee’s insurer will notify WU in writing at least [***] days prior to cancellation or material
change in coverage. The specified minimum insurance coverage and limits do not constitute a limitation on Licensee’s liability or obligation to indemnify or defend under this Agreement. 

12.3 Notwithstanding the foregoing to the contrary, Licensee shall not be required to maintain such insurance if it maintains a
reasonable and customary program of self-insurance that covers the liabilities described in Section 12.1 and such program of self-insurance is reasonably acceptable to WU. 

13. Term and Termination. 
 13.1
Term. The Term of this Agreement is defined in the Preamble and is subject to earlier termination as provided herein. 

13.2 Termination By Licensee. Licensee may terminate this Agreement without cause by giving ninety [***] advance
written notice thereof to WU. Licensee shall pay WU within [***] days of such termination notice all amounts due and owing to WU under this Agreement (absent termination) under Sections 5.2, 5.4, 5.5 above during the [***] day notice period. 

13.3 Termination by WU. WU may terminate this Agreement by giving notice thereof to Licensee upon the occurrence of
any one or more of the following events (in which event this Agreement shall terminate on the date such notice is given): (a) upon [***] days written notice if Licensee fails to achieve the diligence milestones as set forth in Section 4.1 (as
may be extended pursuant to the last paragraph of Exhibit D) and is unable to resolve WU’s concerns through good faith negotiations as set forth in Section 4.2, and/or (b) Licensee (i) becomes insolvent, bankrupt, or is otherwise
unable to pay its debt(s) to WU by the due date(s), or (ii) suffers the appointment of a receiver, receiver and manager, or administrative receiver of the whole or any part of its assets or undertaking, or (iii) an order is made or a
notice issued convening a meeting of shareholders to consider the passing of a resolution for Licensee’s winding up (other than for the purpose of amalgamation or reconstruction) or (iv) a resolution is passed for Licensee’s winding
up (other than for the purpose of amalgamation or reconstruction). 

  
 17 

 13.4 Termination for Breach and Failure to Cure. WU may
terminate this Agreement by giving notice thereof to Licensee in the event Licensee commits a material breach of this Agreement (other than a breach of the type contemplated by Section 13.3 above) and fails to cure such breach within [***] days
after the day that WU gives Licensee notice of such breach. Such termination shall be effective on the date such notice of termination is given. Licensee may terminate this Agreement by giving notice thereof to WU in the event WU commits a breach of
any provision of this Agreement and fails to cure such breach within [***] days after the day that Licensee gives notice to WU of such breach, and such termination shall be effective on the date such notice of termination is given. 

13.5 Duties Upon Expiration or Earlier Termination. For the avoidance of doubt, on the date of expiration or
earlier termination of this Agreement, all license rights granted to Licensee under Article 2 above shall terminate. After the termination of this Agreement, Licensee agrees to, promptly deliver to WU all originals, copies, reproductions and
summaries of all Confidential Information of WU, in each instance in the format in which it exists at the time of expiration or earlier termination of this Agreement, or in another mutually agreed format. Notwithstanding the foregoing, a Party, and
in the case of Licensee, its Affiliates and Sublicensees, (a) shall have the right to keep one (1) copy of any of the Confidential Information of the other Party for its legal archives solely for the purpose of determining compliance with
the terms and conditions of this Agreement and (b) shall not have any obligation to destroy originals, copies, reproductions and summaries of Confidential Information of the other Party that are stored in the ordinary course of business in
laboratory notebooks or electronic databases consistent with good business practices. Within [***] days after the termination of this Agreement for any reason whatsoever, Licensee agrees to deliver a written report to WU of all Licensed Products in
inventory. If this Agreement terminates before the expiration of the last-to-expire Patent Rights, then, upon the termination of this Agreement, Licensee agrees
(a) to promptly discontinue the exportation of Licensed Products that were made in the Territory, (b) to promptly discontinue the manufacture, Sale and distribution of the Licensed Products in the Territory, (c) to promptly destroy
all Licensed Products in inventory, and (d) not to manufacture, sell and/or distribute Licensed Products in the Territory until the expiration of applicable
last-to-expire Patent Rights. 
 13.6 Effect of
Expiration or Earlier Termination. For the avoidance of doubt, the expiration or earlier termination of this Agreement shall not relieve Licensee of its obligation to account for and make payment to WU of any amount due hereunder
including, without limitation, any royalties accrued during the Term of this Agreement and amounts under Section 9.2 above. 
 14.
Disclaimer and Limitation of Liability. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, EVERYTHING PROVIDED BY WU UNDER THIS AGREEMENT IS UNDERSTOOD TO BE EXPERIMENTAL IN NATURE, MAY HAVE HAZARDOUS PROPERTIES, AND IS
PROVIDED WITHOUT ANY WARRANTY OF ANY KIND, EXPRESSED OR IMPLIED, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF ANY THIRD-PARTY
PATENT, TRADEMARK, COPYRIGHT OR ANY OTHER THIRD-PARTY RIGHT. WU MAKES NO WARRANTIES REGARDING THE QUALITY, ACCURACY, COMMERCIAL VIABILITY OR ANY OTHER ASPECT OF ITS PERFORMANCE PURSUANT TO THIS AGREEMENT OR REGARDING THE PERFORMANCE, VALIDITY,
SAFETY, EFFICACY OR COMMERCIAL VIABILITY OF ANYTHING PROVIDED BY WU UNDER THIS AGREEMENT. IN NO EVENT SHALL WU OR LICENSEE BE LIABLE FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT,
WHETHER IN BREACH OF CONTRACT, TORT OR OTHERWISE, EVEN IF THE PARTY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. EXCEPT FOR THEIR RESPECTIVE INDEMNITY OBLIGATIONS, EACH OF WU’S AND LICENSEE’S AGGREGATE LIABILITY TO THE OTHER UNDER THIS
AGREEMENT SHALL NOT EXCEED [***]. 

  
 18 

 15. General Provisions. 

15.1 Import/Export Controls. In performing their respective obligations under the Agreement, the Parties will comply with
United States export control and asset control laws, regulations, and orders, as they may be amended from time to time, applicable to the export or re-export of goods or services, including software,
processes, or technical data. Such regulations include without limitation the Export Administration Regulations (“EAR”), International Traffic in Arms Regulations (“ITAR”), and regulations and orders administered by the Treasury
Department’s Office of Foreign Assets Control (collectively, “Export Control Laws”). WU is not transferring any information or material outside of the United States under this Agreement and is providing no representation regarding the
export control status or classification of any information or materials provided hereunder. 
 15.2 Entire Agreement;
Amendment. This Agreement embodies the entire understanding of the parties and supersedes all other past and present communications and agreements relating to the subject matter. No amendment or modification of this Agreement shall be
valid unless made in writing and signed by authorized representatives of both parties. 
 15.3 Governing Law, Jurisdiction and
Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its rules or procedures involving conflicts of laws. All actions relating to this Agreement shall be brought
[***] if no federal subject matter jurisdiction exits. The Parties irrevocably waive all present and future objections to personal jurisdiction, forum or venue in such courts. 

15.4 Survival. Each provision of this Agreement that would by its nature or terms survive, shall survive any
termination or expiration of this Agreement, regardless of the cause. Such provisions include, without limitation, Sections 1, 2.7.3, 7, 8, 10, 11, 14 and 15. 

15.5 Notices. Notices pursuant to this Agreement shall be to the following contacts and are effective when sent if
sent by a commercial carrier’s overnight delivery service or when received if sent otherwise: 
 If to WU: 

[***] 
 If to Licensee: 

[***] 
 A Party may update or amend its contact
information set forth above by written notice given in accordance with this Section 15.5. 
 15.6
Assignment. This Agreement is binding upon and inures to the benefit of the Parties and their successors, but this Agreement may not be assigned by either Party without the prior written consent of the other Party; provided,
however, that notwithstanding the foregoing, a Party may at any time assign this Agreement in whole, but not in part, without the other Party’s consent, to an acquiring entity in connection with the sale or transfer of all or substantially all
of the business or assets of such Party to which this Agreement relates, whether by sale of assets, merger, consolidation or otherwise provided that (i) Licensee shall not be released of its obligations existing at the time of such assignment
and (ii) the assignee or successor to this Agreement confirms, in writing, that it will be subject to and must comply with all terms, conditions and obligations of this Agreement. 

  
 19 

 15.7 Construction; Execution. The recitals and preamble to this
Agreement, if any, are hereby incorporated as an integral part of this Agreement as if restated herein in full. Headings are included for convenience and reference only and are not incorporated as an integral part of this Agreement. This Agreement
may be executed in any number of counterparts each of which shall be deemed an original and as executed shall constitute one agreement, binding on both parties, even though both parties do not sign the same counterpart. Each Party agrees that the
respective signatures of the Parties hereto may be delivered by facsimile, electronic mail (including .pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and that
the Parties may rely on a signature so delivered as an original, duly and validly delivered, and valid and effective for all purposes. 

15.8 Relationship of the Parties. Each Party is an independent contractor and not a partner or agent of the other
Party. This Agreement will not be interpreted or construed as creating or evidencing any partnership or agency between the Parties or as imposing any partnership or agency obligation or liability upon either Party. Further, neither Party is
authorized to, and will not, enter into or incur any agreement, contract, commitment, obligation or liability in the name of or otherwise on behalf of the other Party. 

15.9 Severability. If any provision in this Agreement is held invalid, illegal, or unenforceable in any respect,
such holding shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if it had never contained the invalid, illegal, or unenforceable provisions. 

15.10 Remedies. The failure of either Party to insist upon or enforce strict performance by the other Party of any
provision of this Agreement, or to exercise any right or remedy under this Agreement will not be interpreted or construed as a waiver or relinquishment of that Party’s right to assert or rely upon any such provision, right or remedy in that or
any other instance; rather, the same will be and remain in full force and effect. All rights and remedies under this Agreement are cumulative of every other such right or remedy and may be exercised concurrently or separately from time-to-time. 
 15.11 Use of Names.
Neither Party may use the trademarks or name of the other Party or its employees for any commercial, advertisement, or promotional purposes without the prior written consent of an authorized corporate officer of the other Party. If either Party is
required by law, governmental regulation, or its own authorship or conflict of interest policies to disclose its relationship with the other Party, including, but not limited to, in SEC filings, scientific publications or grant submissions, it shall
provide the other Party with a copy of the disclosure. Notwithstanding the provisions of this Section 15.11, either party may publicize the existence of, and the Parties to, this Agreement. 

15.12 Force Majeure. Neither WU nor Licensee will be liable for failure of or delay in performing obligations set
forth in this Agreement, and neither will be deemed in breach of its obligations, other than for Payments, if such failure or delay is due to natural disasters or other causes reasonably beyond the control of a Party and reasonable notice of the
delay is provided to the other Party. 
 15.13 WU Personnel. Licensee agrees that for all WU faculty or staff
members who serve Licensee in the capacity of consultant, officer, employee, board member, advisor, or otherwise through a personal relationship with Licensee and not through a sponsored research or other relationship with WU (a
“Consultant”) (i) such Consultant shall serve the Licensee in his or her individual capacity, as an independent contractor, and not as an agent, employee or representative of WU; (ii) WU exercises no authority or control over such
Consultant while acting in such capacity; (iii) WU receives no benefit from such activity; (iv) neither Licensee nor the Consultant may use WU resources in the course of such service; (v) WU makes no representations or warranties
regarding such service and otherwise assumes no liability or obligation in connection with any such work or service undertaken by such Consultant; and (vi) any breach, error, or omission by a Consultant acting in the capacity set forth in this
paragraph shall not be imputed or otherwise attributed to WU, and shall not constitute a breach of this Agreement by WU. 

  
 20 

 15.14 Further Acts. Each Party shall, at the reasonable request of the
other, execute and deliver to the other such instruments and/or documents and shall take such actions as may be required to more effectively carry out the terms of this Agreement. 

15.15 Impact on Tax-Exempt Status. WU advises (a) that it is exempt from
federal income tax under Section 501(c) (3) of the Internal Revenue Code, (b) that maintenance of such exempt status is of critical importance to WU and to its members, and (c) that WU has entered into this Agreement with the
expectation that there will be no adverse impact on its tax exempt status. As such, and if it becomes necessary, the parties agree to amend, modify or reform this Agreement as necessary (i) in order to ensure that there is no material adverse
impact on WU’s tax exempt status, and (ii) in a manner that preserves the economic terms of the Agreement as such are set forth in this Agreement. 

SIGNATURE PAGE FOLLOWS 
  

  
 21 

 In Witness Whereof, the Parties have by duly authorized persons executed this Agreement as of the
Effective Date. 
  

			
	WASHINGTON UNIVERSITY

			
		
	By:	 	 /s/ Nichole Mercier

			
		
	Name:	 	Nichole Mercier
		
	Title:	 	Managing Director OTM and Assistant
		 	Vice Chancellor
		
	Date:	 	September 1, 2020
	
	SANA BIOTECHNOLOGY, INC.

			
		
	By:	 	 /s/ Steve Harr

			
		
	Name:	 	Steve Harr
		
	Title:	 	CEO
		
	Date:	 	September 1, 2020

  
 22 

 Exhibit A 

Initial Development Plan 
 [***]

 Exhibit B 

Sublicense Agreement Provisions 

Sublicensee agrees to indemnify and hold harmless WU Indemnitees to the same extent and under terms no less favorable to WU Indemnitees as Licensee’s
obligations under Article 11 of this Agreement. 
 Sublicensee agrees to maintain insurance for WU’s benefit to the same extent and under terms no less
favorable to WU as Licensee’s obligations under Article 12 of this Agreement. 
 Sublicensee agrees to maintain books and records and allow audits for
WU’s benefit to the same extent and under terms no less favorable to WU as Licensee’s obligations under this Agreement. 
 If Licensee enters
bankruptcy or receivership, voluntarily or involuntarily, sublicensing revenue then or thereafter due to Licensee will, upon notice from WU to any Sublicensee, become directly due and owing to WU for the account of Licensee. WU will remit to
Licensee any amounts received that exceed the sum actually owed by Licensee to WU. 
 Washington University is a third party beneficiary of this Sublicense
Agreement. Accordingly, Washington University may enforce this Agreement against Sublicensee to the same extent as the Sublicensor. 

 Exhibit C 

Patent Rights 
 [***]

 Exhibit D 

Diligence Milestones 
 To be
considered diligent, Licensee must meet each of the following milestones, [***]. 
 Technical Diligence: 

[***] 
 Licensee may elect to extend the date for achievement of
any Diligence Milestone by a period of [***] months, by paying WU a non-refundable fee in the amount of [***] dollars (the “Milestone Extension Fee”). Upon WU’s receipt of the Milestone
Extension Fee, the applicable Diligence Milestone will become due [***] months after the original deadline for such Diligence Milestone, and the deadline for each subsequent Diligence Milestone, if any, shall also be extended by [***] months. For
avoidance of doubt, Licensee may exercise no more than [***] separate extensions of Diligence Milestones during the term of this Agreement.EX-10.19

 Exhibit 10.19 

CERTAIN CONFIDENTIAL INFORMATION IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE
COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 
 AMENDED AND RESTATED EXCLUSIVE PATENT LICENSE AGREEMENT 

This amended and restated agreement (hereinafter “Agreement”), dated as of the Effective Date (defined below), is by and among the University of
Rochester, an educational institution chartered by the State of New York and having its principal place of business at 601 Elmwood Avenue, Box URV, Rochester, New York 14642 (“University”), Oscine Corp., a Delaware corporation
(“Oscine Corp”) and Sana Biotechnology, Inc., a Delaware corporation (“Sana”). 
 1.0 Preamble and Assignment 

1.1 University is the owner by assignment of, or has the exclusive right to license (as described in Section 18.1), the Licensed Patents as defined
below. 
 1.2 University desires that the Licensed Patents be used as soon as possible for the development of products and processes for public use
and benefit, and to this end desires to license the Licensed Patents to a company capable of such development. 
 1.3 Sana, as Licensee desires to
acquire a license to the Licensed Patents so that it can develop products and processes for public use and benefit. 
 1.4 University, on the one
hand, and Oscine Therapeutics US Inc (an Affiliate of Licensee) previously entered into a license agreement, dated May 18, 2017, with respect to the Licensed Patents (the “Initial License Agreement”), which was terminated in its
entirety as of September 1, 2018. Subsequent to termination of the Initial License Agreement, University, on the one hand, and Oscine Corp and Oscine Holdings, LLC (“Holdings”) on the other, entered into that certain license agreement
with respect to the Licensed Patents with an effective date as of October 1, 2018 (the “Second License Agreement” and, together with the Initial License Agreement, the “Prior Agreements” and such date of October 1,
2018, the “Original Effective Date”). 
 1.5 Because Oscine Modeling IVS, a corporation previously organized and existing under the laws of
the United Kingdom of Denmark and an Affiliate of Oscine Corp (“Oscine Modeling”), has been dissolved, the parties hereto desire to terminate any and all licenses or other rights reserved for granting under the Prior Agreements to Oscine
Modeling, which licenses and other rights have been intentionally omitted herefrom. 
 1.6 Sana, Holdings and Oscine Corp previously entered into a
entered into a Collaboration and Option Agreement, dated November 8, 2018 (the “Option Agreement”), relating to, among other things, the Acquisition of Oscine Corp; and Sana, Holdings and the parties named therein, including the
University, intend to enter into a Stock Purchase Agreement, pursuant to which Sana shall acquire all of the outstanding stock of Oscine Corp from Holdings (the “Purchase Agreement”). As a result of the Option Agreement and the Purchase
Agreement, the University has and will receive substantial consideration pursuant to the Prior Agreements and this Agreement. 

 1.7 In connection with the proposed Acquisition of Oscine Corp, and as inducement to Sana to
consummate the Acquisition of Oscine Corp, Sana, University, Oscine Corp and Holdings wish to (i) amend and restate the Second License Agreement on the terms set forth herein, to, among other things, restate and clarify the Second License
Agreement and remove Holdings as a party to this Agreement going forward, (ii) assign the Second License Agreement, as amended and restated by this Agreement, including all rights and obligations under the Second License Agreement, from Oscine
Corp to Sana, and (iii) include certain provisions related to (a) [***] from Licensee to University and from University to Sana of intellectual property arising from the laboratories of Dr. Steven Goldman
(“Dr. Goldman”) at University and at Licensee, (b) the right of Licensee to fund Dr. Goldman’s research at University and (c) Licensee’s right to negotiate additional licenses for technology arising from
Dr. Goldman’s laboratory at University, in each case (i) through (iii) effective as of the Effective Date. 
 1.8 Oscine Corp does
hereby, effective as of the Effective Date, irrevocably assign, transfer, convey and deliver to Sana the Second License Agreement, as amended and restated by this Agreement, including all rights and interest of Oscine Corp in the Second License
Agreement, and obligations of Oscine Corp thereunder, and Sana agrees to accept such assignment and to assume such obligations and be bound to the terms of the Second License Agreement, as amended and restated by this Agreement, with respect
thereto. This Agreement, including the rights, interest, and obligations under the Second License Agreement assigned and transferred hereunder shall serve as the agreement between Sana and University with respect thereto. Accordingly, Sana and
University agree that, upon such assignment, transfer, and assumption, each of Sana and University shall be entitled to enforce the applicable terms of the Second License Agreement, as amended and restated by this Agreement, against each other,
provided that (i) the termination of Oscine Corp’s remaining rights under the Second License Agreement shall not have any effect on the assignment to Sana hereunder and (ii) University shall not be entitled to limit or terminate the
rights assigned to Sana hereunder based on any default or breach by Oscine Corp of the Second License Agreement occurring prior to the Effective Date. 

1.9 University hereby consents to the transfer and assignment from Oscine Corp to Sana, and assumption by Sana from Oscine Corp, effective upon the
Effective Date, including all rights, interest, and obligations under the Second License Agreement, as amended and restated by this Agreement. 
 1.10
All references to “Licensee” under this Agreement shall mean Sana. 
 2.0 Definitions 

2.1 Terms defined in this Article 2.0, and parenthetically defined elsewhere in this Agreement, will throughout this Agreement have the meaning here or there
provided. Defined terms may be used in the singular or in the plural, as sense requires. 
 2.2 “Acquisition” means, with respect to any
entity (a) (i) the sale by such entity of all or substantially all of its assets, (ii) the consummation of the merger or consolidation of such entity with or into another entity (except a merger or consolidation in which the holders of
voting securities of such entity immediately prior to such merger or consolidation continue to hold at least 50% of 

 
the voting power of an entity or the surviving or acquiring entity immediately following such merger or consolidation), or (iii) the closing of the transfer (whether by merger, consolidation
or otherwise), in a transaction or a series of related transactions, to a person or group of affiliated persons, of such entity’s securities if, after such closing, such person or group of affiliated persons would hold 50% or more of the
outstanding voting stock of such entity (or the surviving or acquiring entity), or (b) the granting of or entry into any option, right or similar agreement relating to any of the transactions set forth in clause (a). 

2.3 “Affiliate” means any corporation or other business entity that controls, is controlled by, or is under common control with the Licensee
directly or indirectly through one or more intermediaries. “Controls”, “control,” or “controlled” as used in this paragraph means direct or indirect ownership of more than fifty percent (50%) of the issued shares or the
voting stock of such corporation. 
 2.4 “Beneficial Owner” means the natural person that ultimately controls a corporation or other
legal entity directly or indirectly through one or more intermediaries. “Control” as used in this Section 2.3 shall have the same meaning as defined in section 2.3. 

2.5 “Cell-Based Therapies” means therapies involving the administration of cells (including differentiated or modified cells) to a patient,
including therapies involving transplantation and injection of cellular material. 
 2.6 “Cell Therapy Field” means the field of Cell-Based
Therapies for human diseases and disorders. 
 2.7 “CNS Field” means the field of Cell-Based Therapies for human central nervous system
diseases and disorders. 
 2.8 “Confidential Information” means information that is (A) marked as confidential, or, (B) if orally
or visually disclosed, is indicated at the time of disclosure as confidential and/or provided in written form within [***] (but in either case (A) or (B) subject to the exceptions set forth in Section 5.1). Notwithstanding the foregoing,
the receiving party will have no obligation of confidentiality hereunder (including non-use and non-disclosure) relating to any information of the disclosing party that:

 (i) is disclosed by the disclosing party without restriction on further dissemination or is otherwise disclosed by the receiving party in
compliance with the terms of the disclosing party’s prior written approval; or 
 (ii) at the time of receipt by the receiving party was
independently known or developed by the receiving party, or becomes independently known to the receiving party thereafter, and can be so documented by written records; or 

(iii) at any time becomes generally known to the public or otherwise publicly available through no fault of receiving party; or 

(iv) has been or is made available to receiving party by a third party having the lawful right to do so without breaching any obligation of
nonuse or confidentiality to disclosing party; or 
 (v) the receiving party is obligated to disclose in order to comply with applicable laws
or regulations, or with a court or administrative order, provided that the receiving party 
 (A) promptly notifies the disclosing party, and
(B) cooperates reasonably with the disclosing party’s efforts to contest or limit the scope of such disclosure. 

 2.9 “Cover” or “Covered” means, with respect to a product, technology,
process, method, or mode of administration that, in the absence of ownership of or a license granted under a particular Patent Right, the manufacture, use, offer for sale, sale, or importation of such product or the practice of such technology,
process, method, or mode of administration would infringe a claim of such Patent Right or, in the case of a claim that has not yet issued, would infringe such claim if it were to issue and become a claim under a Patent Right. 

2.10 “Effective Date” shall mean the date of Closing (as defined in the Purchase Agreement) of the Acquisition of Oscine Corp by Sana. 

2.11 “Licensed Field” means research, development, manufacture and commercialization of Cell-Based Therapies for central nervous system
diseases and disorders ; provided that, for clarity, the Licensed Field shall not include the commercialization (including sale or distribution) of Licensed Products that are animal models. 

2.12 “First Commercial Sale” means the initial transfer by or on behalf of Licensee, its Affiliate, or its Sublicensee of Licensed Products in
exchange for cash or some equivalent to which value can be assigned for the purpose of determining Net Sales Revenue. 
 2.13 “Inventors”
mean listed individuals as appear in the inventors section in the patents and patent applications listed in Appendix A and as further defined in “Licensed Patents” (section 2.17). 

2.14 “Licensed Product” means any tangible materials or processes which, in the course of manufacture, use, or sale would, in the absence of
this Agreement, infringe one or more issued, unexpired patent claims, or one or more claims in a pending patent application, contained in the Licensed Patents in the country of manufacture, use, or sale. 

2.15 “Licensed Know-How” means any Know-How which is disclosed
or transferred by University to Licensee or its Affiliates and which is reasonably necessary or useful to research, develop import, make, have made, use, sell, offer to sell and otherwise exploit Licensed Products or any products that were or have
been Licensed Products. 
 2.16 “ Know-How” means all tangible and intangible: 

(a) information, techniques, technology, practices, trade secrets, inventions, methods, knowledge,
know-how, skill, experience, data, results (including pharmacological, toxicological, and clinical test data and results, research data, reports and batch records), preformulation, formulation, analytical and
quality control data, analytical methods, full batch documentation, packaging records, release, stability, storage and shelf-life data, and manufacturing process information, results or descriptions, software and algorithms; and / or 

(b) compositions of matter, cells, cell lines, assays, animal models and physical, biological or chemical materials, 

 

 2.17 “Net Sales Revenue” means the gross amount of monies or cash equivalent or other
consideration that is collected by Licensee, Affiliate, or Sublicensees from unrelated third parties for sale or transfer of Licensed Products, less [***]. No other deductions shall be made for commissions paid to individuals whether they be with
independent sales agencies or regularly employed by Licensee or Sublicensees or on its payroll. A transfer of Licensed Product to a Sublicensee or Affiliate for end use but not resale by the Sublicensee or Affiliate shall be treated as a collection
by Licensee at the list price of the Licensee in an arm’s- length transaction. In the event that a Licensed Product is sold for a single price in combination with another ingredient, product or service (a “Combination Product”), for
which no royalty would be due hereunder if sold separately, Net Sales Revenue shall be calculated, on a country by country basis, by multiplying the Net Sales Revenue of the Combination Product by the fraction A/(A + B), where A is the average gross
selling price during the previous calendar half of the Licensed Product sold separately and B is the average gross selling price during the previous calendar half of the therapeutically active pharmaceutical ingredient, product or service. In the
event that the Licensed Product is sold separately during the previous calendar half and the other active ingredient, product or service is not sold separately during the previous calendar half, then Net Sales Revenue shall be calculated by
multiplying the Net Sales Revenue of the Combination Product by the fraction A/C, where “A” is the average gross selling price during the previous calendar half of the Licensed Product, and “C” is the average gross selling price
during the previous calendar half of the Combination Product. In the event that a particular Combination Product is not addressed by the foregoing, then Net Sales Revenue shall be determined by the parties in good faith, taking into account the
relative fair market value contribution of the Licensed Product and the other therapeutically active pharmaceutical ingredient, product or service in such Combination Product. 

2.18 “Licensed Patents” means those patents and patent applications listed in Appendix A and all patents claiming priority thereto or arising
therefrom. 
  

	 	2.18.1	 “Licensed Patents” includes all patents and patent applications listed on Appendix A, whether
domestic or foreign, along with all corresponding foreign patents and patent applications, any patents or patent applications claiming a right of priority to any of the foregoing, and including all provisionals, divisionals, continuations, reissues,
reexaminations, renewals, extensions, and supplementary protection certificates of any of the foregoing patents and patent applications along with any patents issuing from any of the foregoing. 

 

	 	2.18.2	 Only to the extent that claims issuing therefrom obtain the benefit of a priority date of any of the foregoing
applications and contain one or more claims directed to the invention or inventions disclosed in 2.18.1., “Licensed Patents” also includes
continuations-in-part, and all divisionals and continuations of these
continuations-in-part, patents arising therefrom, and foreign patents, extensions, and supplemental protection certificates and applications corresponding thereto.

 2.19 “Patent Rights” means patents and patent applications, along with all corresponding foreign patents and patent
applications, any patents or patent applications claiming a right of priority to any of the foregoing, and including all provisionals, divisionals, continuations, reissues, reexaminations, renewals, extensions, and supplementary protection
certificates of any of the foregoing patents and patent applications along with any patents issuing from any of the foregoing. Only to the extent that claims issuing therefrom obtain the benefit of a priority date of any of the foregoing
applications and contain one or more claims directed to the invention or inventions disclosed in a patent or patent application, “Patent Rights” also includes
continuations-in-part, and all divisionals and continuations of these
continuations-in-part, patents arising therefrom, and foreign patents, extensions, and supplemental protection certificates and applications corresponding thereto. 

 2.20 “Sublicense” means the present, future or contingent license (or option to license)
granted under the Licensed Patents, in whole or in part, to any third party (other than a third party distributor or wholesaler), of rights to sell or offer to sell Licensed. For the avoidance of doubt, a grant of rights to a third party for the
research, development or manufacture of Licensed Products by a third party with or on behalf of Licensee without a grant of rights to such third party to sell or offer to sell Licensed Products shall not be a Sublicense as that term is used herein.

 2.21 “Sublicensee” means any third party to whom Licensee has granted a Sublicense pursuant to Article 4.0 of this Agreement sell the
Licensed Product under the Licensed Patents, provided the third party has agreed in writing with Licensee to accept the conditions and restrictions agreed to by Licensee in this Agreement. 

2.22 “Territory” means worldwide. 
 3.0
Grant of Rights; Grant-Backs; Right to Fund; Right to Negotiate 
 3.1 Grant. Subject to the terms of this Agreement, including the
reservation of rights in Articles 3.2, 3.3 and 3.4, University hereby grants to Licensee, and Licensee accepts, (i) an exclusive, royalty-bearing license, with the right to Sublicense (subject to Section 4 hereof), under the Licensed
Patents and (ii) a non-exclusive, royalty-free license (subject to Section 4 hereof) under the Licensed Know How, in each case (i)—(ii) to research, develop import, make, have made, use, sell,
offer to sell, commercialize and otherwise exploit Licensed Products in the Licensed Field in the Territory. For the avoidance of doubt, the foregoing license includes the right to research, develop, make, have made (limited solely to a third party
making and providing such animal models to Licensee, with contractual limitations on such third party to prohibit any other use or development of such animal models by the third-party except for research purposes solely for Licensee), and use
Licensed Products that are animal models solely to research, develop, import, make, have made, use, sell, offer to sell, commercialize and otherwise exploit Licensed Products that are therapeutic products in the Licensed Field, but shall not include
the right to sell, offer for sale, or commercialize (nor sublicense for any purposes other than for research or manufacture solely for Licensee in relation to Licensed Products in the Licensed Field) Licensed Products that are animal models. For the
further avoidance of doubt, the foregoing license shall not limit University’s ability to research, develop, import, make, have made, sell, offer for sale or use animal models Covered by the Licensed Patents for any purpose, or to license the
Licensed Patents to other entities, to research, develop, import, make, have made, sell, offer for sale, or use animal models Covered by the Licensed Patents for any purpose, except, in either case to research (subject to the reservation of rights
in Section 3.2), develop, import, make, have made, sell, offer for sale or use Licensed Products that are therapeutic products in the Licensed Field. Additionally, the foregoing license shall not limit University’s ability to license to
other entities the Licensed Patents outside of the Licensed Field. 
 3.2 Reservation of Rights. The University and Inventors of the Licensed
Patents expressly reserve the right to use the Licensed Patents (i) for internal academic research other than Clinical Research, and for teaching, and other education related purposes; (ii) in publications related to its scientific
research and findings; and (iii) for any other purpose that is not 

 
inconsistent with the rights granted to Licensee under this Agreement and provided that all University activities are strictly non-clinical, non-commercial and not for any for-profit or private purpose and are not sponsored by, or conducted for the benefit of, any commercial entity other than Licensee or its
Affiliates. For the purposes of this definition “Clinical Research” means the application or introduction of a Licensed Product in the Licensed Field into a human subject. 

3.3 Government Rights. Article 3.1 notwithstanding, Licensee acknowledges that Licensed Patents may involve federal research funding, that
University has obligations (“Obligations”) under Title 35 of the United States Code Sections 200-204, and that actions taken by University to fulfill such Obligations, if applicable to any given
Licensed Patents, will not be deemed inconsistent with University’s obligations under this Agreement. Licensee acknowledges that Obligations include, but are not limited to, the grant of an irrevocable,
non-exclusive, nontransferable, royalty-free worldwide license to the applicable Licensed Patents by University to the United States government, and a statement of United States Government patent rights on all
the applicable patents and patent applications within the Licensed Patents. Licensee agrees that Licensed Products covered by such applicable Licensed Patents made, used or sold in the United States must be manufactured substantially in the United
States so long as the license granted pursuant to Article 3.1 remains exclusive, unless a written waiver is obtained in advance from the United States government. University will use reasonable efforts to work with Licensee to obtain such a waiver
at Licensee’s reasonable request and Licensee’s expense. 
 3.4 No Other Rights Implied This Agreement confers no license or rights
by implication, estoppel, or otherwise under any patent applications or patents of University other than the Licensed Patents defined in Section 2.17 and Appendix A attached hereto, regardless of whether such patents are dominant or subordinate
to the Licensed Patents. 
 3.5 University-Licensee Grant-Back Rights 
  

	3.5.1	 Definitions. For the purpose of this Section 3.5: 

(a) “Licensee CNS Group IP” shall mean any Patent Rights owned by Licensee that Cover inventions in the CNS
Field and which are first conceived and reduced to practice solely by (i) Dr. Goldman in Licensee facilities while acting in his capacity as an employee of Licensee or (ii) Dr. Goldman in Licensee facilities while acting in his
capacity as an employee of Licensee jointly with any members of Dr. Goldman’s group at Licensee and no other Licensee personnel. For the purposes of this definition, “members of Dr. Goldman’s group at Licensee” shall
mean [***]. 
 (b) “University Follow-On Inventions” means any
inventions that (I) are conceived and/or reduced to practice in connection with the use of any Licensee CNS Group IP, (II) make use of or employ any Licensee CNS Group IP, or (III) include, incorporate or constitute an improvement of
or modification to, the Licensee CNS Group IP, or (IV) are otherwise derived from or related to the Licensee CNS Group IP and in each case (I-IV) which (A) are conceived, reduced to practice or
invented by Dr. Goldman at University while acting in his capacity as 

 
an employee of University, or by Goldman Lab Members, or otherwise through the significant use by Dr. Goldman or Goldman Lab Members of University resources and (B) are first conceived
by Dr. Goldman or any Goldman Lab Member during the period commencing on the Effective Date and ending on the date that is [***] following the later of (x) the date on which the applicable Licensee CNS Group IP described in the foregoing I-IV first becomes published or (y) the date on which Dr. Goldman is no longer employed by Licensee or any of its Affiliates (such time period set forth in the foregoing clauses (x) and (y) as
applicable, the “Improvement Period”). 
 (c) “Goldman Lab Members” shall mean [***]. Goldman Lab
Members includes [***]. 
 (d) “University Follow-On IP” shall mean
any Patent Rights that Cover University Follow-On Inventions 
  

	3.5.2.	 Licensee License to University. Licensee shall, and hereby does, grant to University a non-exclusive, royalty free, non-sublicensable license solely for Dr. Goldman or any Goldman Lab Members to practice the Licensee CNS Group IP within Dr. Goldman’s laboratory at University solely for
internal academic research purposes (and not for any commercial or for-profit or private purpose), provided that “internal academic research purposes” shall exclude the use of any agent Covered by
the Patent Rights as a therapeutic or the application or introduction of any agent Covered by the Patent Rights into human subjects or patients. 

  

	3.5.3	 University License to Licensee; Option for Exclusive License. University will disclose in reasonable
detail all University Follow-On Inventions to Licensee within [***] following the disclosure of such inventions by Dr. Goldman or any Goldman Lab Member to the University technology transfer office.
University will provide a draft of any filings with respect to the University Follow-On Inventions to be made with patent offices in any jurisdiction. University will reasonably consider Licensee’s
comments in input respect to any such filings. Licensee will automatically have, and University hereby grants to Licensee, a worldwide, non-exclusive, sublicensable (subject to the restrictions set forth in
provisos in clauses (i) and (ii) at the end of this sentence) royalty-free, perpetual license to practice the University Follow-On Inventions, which shall include a
non-exclusive license under any associated University Follow-On IP and any Know-How embodying such inventions or that is
reasonably necessary or useful to research, develop import, make, have made, use, sell, offer to sell and otherwise exploit any such inventions, for all lawful purposes; provided that (i) such license shall only be sublicensable for the
purposes of the research, development, manufacture and/or commercialization of Company’s or its Affiliates’ products (alone or with one or more collaborators) and not the products of any other third party, and (ii) any disclosure

	 	
by Licensee of any such Know-How that constitutes Confidential Information of University (other than information set forth in Section 2.5(i)-(v))
shall be subject to Section 5.2 hereunder. In addition, on a University Follow-On Invention-by-University Follow-On Invention basis, Licensee will have, and University hereby grants to Licensee, the first option (the “Option”) to enter into a worldwide, royalty-bearing, sublicensable, exclusive license
to each University Follow-On Invention (which shall include a license under any related University Follow-On IP, and provided that any license to Know-How would be non-exclusive and subject to the same limitations with respect to the sublicense of Licensed Know-How hereunder as
set forth in Section 4.0 hereof). Licensee may exercise each Option by providing written notice to University (“Licensee Option Exercise Notice”) before [***] from the date on which the invention disclosure was made by
University to Licensee (the “Option Period”) that it is exercising the Option. If Licensee exercises its Option then the applicable University Follow-On Inventions and associated University Follow-On IP may either be licensed in a separate license agreement or added as additional Licensed Patents under this Agreement by additional amendment to this Agreement, with economic and other terms for products
Covered by such University Follow-On IP to be negotiated and agreed in good faith by the parties within [***] following the date of the Licensee Option Exercise Notice (the “Follow-On Invention Negotiation Period”). If Licensee does not provide the Licensee Option Exercise Notice within the Option Period, or Licensee provides the Licensee Option Exercise Notice but for any
reason the Parties do not enter into a definitive agreement within the Follow-On-Invention Negotiation Period, in any such case University shall be free to enter into an
agreement with any third party relating to such University Follow-On Invention, without further obligation to exclusively license such rights to Licensee. 

3.6 Licensee ROFN.  
  

	3.6.1	 Definitions. For the purposes of this Section 3.6: 

(a) “Subject Invention” shall mean any invention in the Cell Therapy Field for which Dr. Goldman is an inventor
(either solely or jointly with others), invented after the Effective Date, other than (i) any invention arising under the University-Licensee SRA and which constitutes or is covered by University IP under, and as that term is defined in, the
University-Licensee SRA or (ii) any University Follow-On Inventions for which rights are granted by University to Licensee under Section 3.5 of this Agreement. 

(b) “Subject Know-How” means University’s rights (whether sole or joint)
in any Know-How embodying any Subject Invention or that is reasonably necessary or useful to research, develop, import, make, have made, use, sell, offer to sell and otherwise exploit any Subject Invention.

 (c) “Subject Patent Rights” means University’s rights (whether sole or joint) in any Patent Rights Covering
any Subject Invention. 
  

	3.6.2	 Licensee ROFN. If, at any time during the period commencing on the Effective Date and ending upon the
date that is [***] following the date of termination, by Dr. Goldman or Licensee or any of its Affiliates, of Dr. Goldman’s employment (or co-employment) by Licensee or such Affiliate as
applicable (the “ROFN Term”), University seeks to license, transfer or assign to a third party the right under any Subject Patent Rights to research, develop import, make, have made, use, sell, offer to sell, commercialize and/or
otherwise exploit any 

	 	
Subject Invention in the Cell Therapy Field, University shall provide Sana with written notice that University seeks to license, transfer or assign such Subject Patent Rights (the “ROFN
Notice”). If, within [***] after the date of ROFN Notice (the “ROFN Notice Period”), Licensee provides a written notice that Licensee wishes to negotiate with University the terms of a potential license to such Subject
Patent Rights (such notice, a “ROFN Exercise Notice”), the Parties shall negotiate exclusively and in good faith for a period of up to [***] after the ROFN Exercise Notice (the “Subject Invention Negotiation
Period”) to finalize a definitive license agreement for such Subject Patent Rights, which license would (i) be executed by either entering into a separate license agreement, or adding through amendment to this Agreement such Subject
Patent Rights as additional Licensed Patents under this Agreement, with economic and other terms to be agreed in good faith by the parties during the Subject Invention Negotiation Period, and (ii) include a
non-exclusive license under any Subject Know-How embodying such inventions or that is reasonably necessary or useful to research, develop import, make, have made, use,
sell, offer to sell and otherwise exploit any such inventions. 

  

	3.6.3	 If Licensee does not provide the ROFN Exercise Notice within the ROFN Notice Period, or Licensee provides the
ROFN Exercise Notice but for any reason the Parties do not enter into a definitive agreement within the Subject Invention Negotiation Period, in any such case University shall be free to enter into an agreement with any third party relating to such
Subject Patent Rights, without further obligation to Licensee. If University does not enter into a definitive agreement with a third party (a) within [***] after the date of Licensee’s failure to provide the ROFN Exercise Notice within the
ROFN Notice Period, or (b) within [***] following the expiration of the Subject Invention Negotiation Period in the event of parties’ failure to enter into a definitive agreement within the Subject Invention Negotiation Period, as
applicable, then such Subject Patent Rights shall again become subject to this Section 3.6 if University seeks, or is continuing to seek, to license such Subject Patent Rights in the Cell Therapy Field in any country in the world.

 3.7 Survival of Certain Terms. The provisions of Section 3.5 shall survive any expiration or earlier termination of this
Agreement until the last to expire Improvement Period thereunder. The provisions of Section 3.6 shall survive any expiration or termination of this Agreement until the expiration of the ROFN Term. Notwithstanding the foregoing, any perpetual
licenses granted pursuant to Sections 3.5 or 3.6 shall survive in perpetuity. 
 4.0 Sublicensing 

4.1 Right to Sublicense. During the term of the license granted in Article 3.1 of this Agreement, Licensee will have the right to grant
Sublicenses to Licensed Patents in the Licensed Field and Territory at terms and conditions not less favorable to University than those required by this Agreement. If Licensee grants exclusive Sublicenses to Licensed Patents for one or more
particular field(s) of use, or one or more particular territory/ies, Licensee must give prior written notice to University. Notwithstanding the aforesaid, Licensee may transfer or assign the entirety of its rights hereunder to any Affiliate of
Licensee, and (b) upon written approval of University, such approval not to be unreasonably withheld, delayed or conditioned, Licensee may transfer or assign the entirety of its rights under this License to an established commercial entity
actively manufacturing and selling in the Licensed Field. For the avoidance of doubt, in addition to the right to grant Sublicenses to Sublicensees provided hereunder, Licensee 

 
may sublicense the rights to research, develop or manufacture Licensed Products granted hereunder (including a disclosure of any Licensed Know-How) to one
or more third parties, such as contract research organizations, academic collaborators and contract manufacturers, for the research, development or manufacture of Licensed Products by any such third party with or on behalf of Licensee, provided that
the terms of any such sublicense shall not include any commercial rights and are not inconsistent with the terms of this Agreement. 
 4.2 Required
Terms of Sublicense. Each Sublicense granted by Licensee must provide that the Obligations to University of Article 3.3 (Government Rights), Article 6.0 (Diligence), Article 10.0 (Record Keeping), Article 14.0 (Patent Marking), Article 17.0 (Use
of Names), and Article 19.0 (Indemnification) of this Agreement are binding upon the Sublicensee as if it were a party to this Agreement. Licensee will attach copies of these Paragraphs and Articles to all Sublicenses. 

4.3 Any Sublicense granted by Licensee shall provide for the termination of the Sublicense, or the conversion to a license directly between the
Sublicensee and University, at the option of the Sublicensee, upon termination of this Agreement under Article 11.0. Any conversion is subject to University approval and contingent upon acceptance by the Sublicense of the remaining provisions of
this Agreement. 
 4.4 Obligations of Licensee. With respect to the right to Sublicense granted pursuant to this Section, Licensee shall: 

4.4.1 Assume responsibility for its Sublicensees and not grant any rights that are inconsistent with the rights and obligations of this
Agreement. Any act or omission of a Sublicensee that would be a breach of this Agreement if performed by Licensee will be deemed a breach by Licensee of this Agreement; 

4.4.2 Not receive, or agree to receive, anything of value in lieu of cash, other than (i) corporate or limited liability company or
partnership equity or (ii) a license of intellectual property rights (and then only as the value for such intellectual property rights are determined in accordance with Section 8.5.3), as consideration from a third party under a Sublicense
granted pursuant to Article 4.1 and 
 4.4.3 Promptly provide University the name and address of each Sublicensee with whom it concludes a
Sublicense, and forward to University a copy of each executed Sublicense within [***] of the date of execution of such Sublicense. 
 4.5
Sublicense to Non-Profit and Academic Institutions. Licensee, at its discretion, may grant to any non-profit or academic institution a non-exclusive, royalty-free sublicense to use the Licensed Patents for non-commercial research, teaching, and/or educational related purposes only. 

4.6 Right to Disclose Licensed Know-How. Notwithstanding anything to the contrary herein, Licensee shall
be permitted to provide or disclose the Licensed Know-How to (i) Sublicensees, or (ii) contract research organizations, service providers, collaborators and other third parties working with or on
behalf of Licensee or its Sublicensees (and Sublicensees shall be permitted to disclose the Licensed Know How to the foregoing third parties) provided that (a) any such provision or disclosure is reasonably necessary or useful for the research,
development, or commercialization of Licensed Products and (b) any such disclosure of any such Licensed Know-How that constitutes Confidential Information of University (other than information set forth
in Section 2.5(i)-(v)) shall be subject to Section 5.2 hereunder. 

 5.0 Confidential Information 

5.1 Patent and Business / Technical Information. Licensee acknowledges that it has previously received copies of all patents and patent
applications comprising the Licensed Patents. Subject to Section 2.5(i)–(v), (A) all information and correspondence relating to the Licensed Patents received from University or University’s patent counsel is considered the
University’s Confidential Information, whether or not marked as confidential and (B) all information and correspondence provided by Licensee in notices or reports required hereunder is considered Licensee’s Confidential Information,
whether or not marked as confidential. 
 5.2 Confidentiality Obligation. Beginning on the Original Effective Date and continuing throughout
the term of this Agreement and thereafter for a period of [***], neither party will at any time, without the express prior written consent of the other, use, disclose or otherwise make known or available to any third party any Confidential
Information of the other party. Notwithstanding the foregoing, (i) Licensee, as the receiving party of University’s Confidential Information, shall be permitted to use such Confidential Information as reasonably necessary to exercise its
rights, including its licensed rights under the Licensed Patents and Licensed Know-How granted hereunder, and perform its obligations hereunder, and (ii) University, as the receiving party of
Licensee’s Confidential Information, shall be permitted to use such Confidential Information as reasonably necessary to enforce its rights hereunder (respectively, (i) and (ii), the “Purpose”). The receiving party will utilize
reasonable procedures to safeguard the Confidential Information of the disclosing party, including releasing such Confidential Information only to its employees, consultants, attorneys, advisors, agents, or Affiliates, and with respect to Licensee,
its Sublicensees or third party contract research organizations, collaborators, service providers or manufacturers, on a reasonable “need-to-know” basis,
solely for the Purpose. In addition, Licensee is authorized to release Confidential Information of University to (i) potential Sublicensees for the purpose of negotiating and granting a Sublicense and (ii) potential investors in Licensee
or its Affiliates, provided that Licensee takes reasonable precautions to safeguard such Confidential Information of University. Moreover, Licensee shall be entitled to disclose Confidential Information in patent filings and other government
regulatory filings such as but not limited to FDA filings without the prior consent from University. Notwithstanding the foregoing the restrictions of this Article 5.2 do not apply to Confidential Information required to be disclosed by court order
or operation of law, provided that receiving party (i) to the extent possible first gives prompt written notice of such disclosure requirement to the disclosing party so as to enable disclosing party to seek any limitations on or exemptions
from such disclosure requirement and (ii) reasonably cooperates at disclosing party’s request in any such efforts by disclosing party at disclosing party’s costs. 

5.3 Licensee’s Confidential Information. Except as required by law, University will maintain in confidence all of Licensee’s
Confidential Information. In the event of a request for such information made of University by any third party, University shall promptly inform Licensee of such request and except as required by law shall not disclose any of Licensee’s
Confidential Information without Licensee’s prior written consent. 

 5.4 Disclosure of Terms of Agreement to Inventors. University may disclose to the Inventors of
the Licensed Patents the terms and conditions of this Agreement upon their request. If such disclosure is made, University shall ensure that the Inventors undertake to keep such information confidential. 

6.0 Diligence 
 6.1 Diligence
Obligations. Licensee, during the term of this Agreement, must utilize commercially reasonable efforts to (i) proceed with the development, manufacture, sale, and other commercial exploitation of the Licensed Patents, (ii) create a
reasonable supply of Licensed Products to meet demand, (iii) adhere to the Commercial Development Plan in Appendix B and (iv) perform the Benchmarks in Appendix C. The efforts of a Sublicensee or an Affiliate will be considered the efforts
of Licensee. Any amendment to the Commercial Development Plan and/or Benchmarks must be mutually agreed to in writing by University and Licensee, and attached to this Agreement. Licensee shall provide a written report [***] after the Original
Effective Date describing the Licensee’s progress during the preceding year toward achievement of the Commercial Development Plan and Benchmarks. Such report shall include, as a minimum, information sufficient to enable University to satisfy
relevant reporting requirements of the U.S. government and to ascertain Licensee’s progress toward meeting the diligence requirements of this Article 6.0. 

6.2 First Commercial Sale. Licensee agrees to use commercially reasonable efforts to cause the first Licensed Product to be available for
commercial use or sale no later than the corresponding date set forth in Appendix C. Upon the First Commercial Sale of Licensed Product, until the expiration of this Agreement, Licensee must continue to use its commercially reasonable efforts to
keep Licensed Product reasonably accessible to the public. The efforts of a Sublicensee or an Affiliate will be considered the efforts of Licensee. 
 6.3
Milestone Extension Payments. Not more than [***] times, exercisable at its sole discretion at any time during the term of this Agreement, Licensee may elect to extend the date for achievement of any Benchmark set forth in Appendix C by a
period of [***], by paying University a non-refundable fee in the amount of [***] dollars (the “Milestone Extension Fee”). Upon University’s receipt of the Milestone Extension Fee, the
applicable Benchmark will become due [***] after the then-applicable deadline for such Benchmark, and the deadline for each subsequent Benchmark, if any, shall also be extended by [***]. For avoidance of doubt, Licensee may exercise no more than
[***] separate extensions of Benchmarks during the term of this Agreement. 
 6.4 Failure to Meet Diligence Obligations. If Licensee materially
breaches the diligence obligations set forth in this Article 6.0 (Diligence) and does not remedy such failure upon written notice specifying such failure by University to Licensee within [***] or other longer reasonable time at University’s
sole discretion, for Licensee to remedy such failure, University may terminate this Agreement or, at University’s sole discretion, terminate the exclusivity of the license granted herein in any case in accordance with the options for
termination set forth in Section 11.2 of this Agreement. Notwithstanding the foregoing, Licensee may from time to time request to amend the Benchmarks in Appendix C prior to Licensee’s failure to meet any such Benchmarks. Accordingly, upon
such written request by 

 
Licensee, University agrees to negotiate in good faith to extend the Benchmarks for a reasonable and appropriate period of time to be mutually agreed, if at all, by the parties at the time of
such request if Licensee includes in its request for such an extension (a) a reasonable explanation for Licensee’s failure to achieve one or more Benchmarks by the applicable deadlines for achievement thereof set forth in Appendix C then
currently in effect (which reasonable explanation will not include lack of finances of Licensee) and (b) a reasonable update to the Commercial Development Plan to continue to progress the development of the Licensed Products, including the
dates on which Licensee believes, in its good faith judgement, that it will achieve the updated or amended Benchmarks that Licensee has not achieved to date. In such case of a mutually agreed extension, University shall not be entitled to terminate
the Agreement or the exclusivity of the license granted herein unless Licensee materially fails to adhere to the extended Diligence Obligations according to the foregoing. 

6.5 Financial Capability. At all times during the term of this Agreement, Licensee shall maintain the financial capability to meet the Diligence
Obligations of Articles 6.1 and 6.2. Upon inquiry by University, Licensee will provide any requested assurances and disclosures, including, but not limited to, financial records that will demonstrate its financial capability. 

7.0 Patent Prosecution and Cost Recovery 
 7.1
Patent Prosecution. [***] will have sole control over the filing, prosecution, maintenance, and management of any and all issued patents and pending and future patent applications encompassing the Licensed Patents, as of the Original
Effective Date; provided that [***] will identify in writing to [***] countries (“Identified Countries”) in which to file, prosecute, and/or maintain patent applications or patents of the Licensed Patents. [***] will select all outside
counsel for prosecution of the Licensed Patents, which counsel shall be reasonably acceptable to [***], and such counsel will represent [***] in such prosecution. [***] will keep [***] fully informed, at [***] expense, of all prosecution related
actions, including submitting to [***] copies of all official actions and responses, and will reasonably cooperate with [***] to whatever extent is reasonably necessary to provide [***] the full benefit of the license granted herein. Each party will
promptly inform the other as to all matters that come to its attention that may affect the preparation, filing, prosecution, or maintenance of the Licensed Patents and permit a reasonable amount of time for each other to provide comments and
suggestions with respect to the preparation, filing, and prosecution of Licensed Patents, which comments and suggestions will be considered by the other party. All reasonable comments provided by [***] will be reasonably incorporated by [***]. [***]
shall not abandon any of the Licensed Patents without the prior written consent of [***]. 
 7.2
Non-Identified Countries. At [***] option, in countries other than the Identified Countries (“Non-Identified Countries”), [***] may prepare, apply
for, seek prompt issuance of, and maintain during the term of this Agreement patent application and patents encompassing the Licensed Patents using patent counsel selected by [***]. The preparation, prosecution, filing and maintenance of all patents
and patent applications contained in the Licensed Patents in Non- Identified Countries shall be the primary responsibility of [***]. License grants referred to in Article 3.0 of this Agreement shall not apply to such patents and applications. At the
request and expense of [***], and at the [***] sole discretion, [***] may advise [***] with regard to any actions taken with respect to the Licensed Patents in a Non-Identified Country. 

 7.3 Patent Fee Reimbursement. [***] will reimburse [***] for all fees and costs relating to
the filing, prosecution, and maintenance of patent applications relating to Identified Countries, including without limitation, interferences, oppositions, and reexaminations, and the maintenance and defense of patents in Licensed Patents, including
fees and cost incurred and invoiced prior to (as stated in Appendix D according to clause 7.3.1), on, and after the Original Effective Date. Such fees and costs will not include costs incurred by [***] in the use of its own resources, such as
employee time, and will not extend to patenting fees and costs incurred by [***] after termination of this Agreement. Unless otherwise specified in Appendix D, [***] will pay invoices for such fees and costs submitted by [***] upon receipt of any
such invoice. In any country where [***] fails to pay fees and costs invoiced to [***] by [***] within [***] of the date of such invoice and does not remedy such payment failure within [***] from written notice by [***] to [***] to this effect,
[***] may file, prosecute and/or maintain a patent application or patent at its own expense and for its own exclusive benefit, and Licensee thereafter will not be licensed under such patent or patent application. 

7.3.1 Past Patent Reimbursement. Licensee will reimburse University for [***]. 

7.3.2. In the event that University grants or has granted any additional licenses under any of the Licensed Patents, as may be permitted hereunder, Licensee
shall thereafter only be responsible to pay a portion of such fees and costs relating to any Licensed Patents accruing during the period in which such additional licenses are effective, calculated by multiplying such costs and expenses by a
fraction, the numerator of which is [***] and the denominator of which is [***]. Each time that an additional license is granted by University or lapses under any such Licensed Patent, Licensee’s responsibility for payment hereunder shall
thereafter (prospectively only) be further reduced or increased in the same manner. 
 7.4 Election to Discontinue Licensed Patents.
Licensee’s obligation to pay patent costs as specified in Article 7.3 of this Agreement shall continue for as long as this Agreement remains in effect; provided however, that Licensee may terminate its obligation with respect to any given
patent application or patent upon [***] written notice to University. University will use its best efforts during the [***] period to minimize any additional patent costs upon receipt of notice from Licensee. University may elect to file, prosecute,
and/or maintain such applications(s) or patent(s) at its sole discretion and expense; provided however, that Licensee shall have no further right or license regarding such patent application and related Licensed Patents. 

7.5 Extension of Licensed Patent(s). Licensee may request that University have the normal term of any Licensed Patents extended or restored under
a country’s procedure of extending patent term for time lost in governmental regulatory approval processes, and the expense of doing so shall be borne by Licensee. Licensee shall assist University to take whatever action is necessary to obtain
such extension. In the case of such extension, royalties pursuant to Article 8.0 shall be payable until the end of the extended life of the patent. Licensee shall have the sole decision-making authority whether to effect the extension of such
patents but will reasonably factor University’s input into any such decision. 

 8.0 Licensing Fees and Royalties 

8.1 Upfront License Consideration. Holdings issued to University [***], satisfying in full the obligations under Section 8.1 in the Prior
Agreements. 
 8.2 Patent Cost Reimbursement. In addition to the foregoing Upfront License Consideration, Licensee will reimburse University
for (i) [***]; and (ii) [***]. 
 8.3 Minimum Annual Royalties. During the term of this Agreement, Licensee agrees to pay Minimum Annual
Royalties according to the following schedule; such Minimum Annual Royalties are due in full and payable on January 1st of each year and are creditable against Earned Royalties on a non-cumulative basis which are due and payable in the same year. 
 [***] 

8.4 Earned Royalties. During the term of this Agreement, Licensee agrees to pay to University [***]% of the Net Sales Revenue up to cumulative
Net Sales Revenue of [***] and [***] % of the cumulative Net Sales Revenue above [***] for Licensed Product(s) sold by Licensee and its Sublicenses (the “Earned Royalty”). Earned Royalty payments are due and payable within [***] of the end
of each calendar quarter. 
 8.4.1 Stacking of Earned Royalties. In the event Licensee reasonably determines that it is required to obtain one or more
licenses from any third party in order to develop, use or commercialize a Licensed Product, then Licensee may offset up to [***] percent ([***] %) of the Earned Royalties due to University pursuant to Article 8.4 for sale of a Licensed Product based
on the royalties actually paid to the third-party. In no event shall Earned Royalties payable under Article 8.4, as the case may be, be reduced by more than [***] percent ([***] %) of such Earned Royalties as would otherwise be due. 

8.5 Sublicense Payments. Except with regard to Sublicenses granted by Licensee to Affiliates Licensee agrees to pay to University: 

[***] 
 “Sublicensing Non-Royalty Revenue” means all cash and non-cash considerations received from Sublicensees for Sublicenses granted by Licensee to and in Licensed Patents (except for
Sublicenses to Affiliates), excluding royalties or profit share payments which correspond to royalties paid pursuant to Article 8.4, loans, equity investments, reimbursement of patent expenses and research and development support. 

For clarity purposes, “Sublicensing Non-Royalty Revenue “ includes all upfront payments, license
fees, options fees, option exercise fees, milestone payment and similar consideration paid by a Sublicensee that is not an Affiliate to Licensee as consideration for the Sublicense of the Licensed Patents; provided, however, that Sublicensing Non-Royalty Revenue shall exclude any consideration paid in connection with or related to (i) any research and development of the Licensed Products, (ii) any investments in Licensee or its Affiliates to

 
acquire Licensee’s or its Affiliates’ securities, and (iii) and any Acquisition of Licensee or its Affiliates. In no event shall Licensee pay Sublicense Payments to University of
sub- licensing non-royalty revenue and other non-cash consideration deriving from Sublicenses to an Affiliate. Licensee agrees to pay to University the Earned Royalty
rate of Article 8.4 as applied to Sublicensee’s Net Sales Revenue for Licensed Product. Sublicense payments are due and payable within [***] of the end of each calendar quarter in which such consideration is received by Licensee. 

8.5.1. In the event that Sublicensing occurs prior to Milestone Payments as set out in Article 8.6, Milestone Payments shall remain payable, however no
Sublicense Payment shall be payable pursuant to this Article 8.5 for any portion of payments received from Sublicensees that are in fulfillment of a Milestone paid to University pursuant to Article 8.6 hereof. 

8.5.2. In the event that the Licensed Patents are sublicensed as a “bundle” with other technologies, the value attributable to the Licensed Patents
will be a commercially reasonable value as determined by Licensee, providing that (a) proper documentation supporting that valuation is provided by Licensee to University, and (b) if University reasonably disputes that valuation, then in
any dispute resolution the burden will be Licensee’s to support its valuation. 
 8.5.3. In the event that
non-cash consideration in the form of a license to intellectual property rights is received as Sublicensing Non-Royalty Revenue, Sublicensing Non-Royalty Revenue shall be calculated based on the fair market value of such non-cash consideration, or, at Licensee’s election, Licensee may distribute
University’s share to University in kind; provided that Licensee may only elect to make such a distribution if such non-cash consideration is a freely transferable security (except for such restrictions
on transfer imposed by law). For clarity, a cross-license of intellectual property rights that are necessary for Licensee to make, have made use, have used, sell, offer for sale, have sold, export and import Licensed Products, and other routine
contractual covenants that do not involve the payment of any monetary consideration and are customary in the type of transaction that the Sublicense is included in (including covenants providing for the research, development, supply, and
commercialization responsibilities of the Sublicensee, confidentiality provisions, licenses or other rights or forbearances with respect to improvements and other technologies and intellectual property, retention of
co-promotion rights or options to obtain co-promotion rights to the Licensed Product(s) covered by such Sublicense, and indemnification) shall not be deemed non-cash consideration. In addition, to the extent that Licensee enters into a cross-license with a third party to achieve
freedom-to-operate for Licensed Products while providing the third party with
freedom-to-operate with respect to all or some portion of the Licensed Patents, the value of the licenses to Licensee as part of such cross-license, and the other
routine contractual covenants by other parties to such cross-license, shall not be deemed to give rise to Sublicensing Non-Royalty Revenue for purposes of this Agreement. In addition, no change of control
transaction shall be deemed to be a Sublicense nor to give rise to Sublicensing Non-Royalty Revenue hereunder. 

8.6 Milestone Payments. Licensee agrees to pay University the milestone payments per Licensed Product as set forth below: 

[***] 

 Licensee must notify University in writing within [***] upon the achievement of each Milestone, such notice
to be accompanied by payment of the appropriate Milestone Payment. 
 8.7 No Royalty Deductions for Charges Imposed. Licensee will be
responsible for the payment of all taxes, duties, levies, and other charges including, but not limited to sales, use, gross receipts, excise, VAT, ad valorem and any other taxes, any withholdings or deductions, import and custom taxes, any duties,
or any other charges imposed by any taxing authority with respect to the royalties payable to University under this Agreement. Should Licensee be required under any law or regulation of any government entity or authority, domestic or foreign, to
withhold or deduct any portion of the payments on royalties due to University, then the sum payable to University must be increased by the amount necessary to yield to University an amount equal to the sum it would have received had no withholdings
or deductions been made. University will cooperate with Licensee in the event Licensee elects to assert, at its own expense, University’s exemption from any such tax or deduction. 

8.8 No Duplication of Royalty Payment Due to Licensed Patents. No multiple royalties will be payable to University because any Licensed Product
or its manufacture, use, or sale are or will be covered by more than one patent application or issued patent included as part of Licensed Patents. 
 8.9
[***] License Fee. Upon the written request of Licensee, University will negotiate in good faith with Licensee for [***]. 
 Payment and
Reports 
 9.0 Reports. 
 9.1.1 Progress
Reports. Until Licensee or any Sublicensee engages in commercial use or sale of Licensed Products, Licensee must prepare and submit to University within [***] of December 31st of each year a report regarding the progress of Licensee and any
Sublicensees in developing Licensed Products for commercial exploitation. This report must include such particulars as are necessary to demonstrate compliance with the diligence obligations set forth in Article 6.0 (Diligence) of this Agreement
including, but not limited to [***]. 
 9.1.2 Royalty Reports. With each royalty payment, Licensee must include a report setting forth such
particulars of the business conducted by Licensee, Affiliate, and each Sublicensee during the preceding calendar quarter as will be pertinent to royalty accounting as specified in this Agreement. This report must include at least [***]. If no sales
of Licensed Products were made and no Sublicense revenue was received by Licensee during any reporting period, Licensee shall so report. 

 9.2 Payments. 

9.2.1 Earned Royalties shall accrue when Net Sales Revenue on Licensed Products is received by Licensee, Sublicensee or Licensee’s Affiliate. 

9.2.1. Licensee must pay Earned Royalties to University quarterly within [***] of each of the following dates: March 31, June 30, September 30,
and December 31 of each year. 
 9.2.2 Form of Payments. All payments required under this Agreement must be made in U.S. dollars by check or
money order payable to the University of Rochester, and delivered to University as specified in this Agreement; or, if so directed in writing by University, in such currency, form, and to such account as University may designate. The royalties on
sales in currencies other than U.S. Dollars must be calculated using the appropriate foreign exchange rate for such currency quoted in The Wall Street Journal on the last business day of the calendar quarter in which the Net Sales Revenue
occurred. All non-U.S. taxes related to royalty payments must be paid by Licensee and are not deductible from the payments due University. 

9.2.3 Late Fee. Any payment due to University under terms of this Agreement that is more than [***] past due shall bear interest until paid at a per
annum rate equal to [***] percent ([***] %) as set forth by The Wall Street Journal on the date on which such payment is due. The payment of such interest amount must be made at the time the overdue payment is made. The payment of such
interest amount will not foreclose or limit University from exercising any other rights it may have as a consequence of the lateness of any payment. 

10.0 Record Keeping 
 10.1 Records.
Licensee, its Affiliates, and Sublicensees, must keep complete and accurate records and books of account containing all information necessary for the computation and verification of the amounts to be paid hereunder. Licensee must keep these records
and books for a period of [***] following the end of the Licensee’s fiscal year to which the information pertains. 
 10.2 Audit Rights.
Licensee will, at the request of University, permit one or more accountants selected by University (“Accountant”) to have access to Licensee’s records and books of account with a reasonable notice during ordinary working hours to
audit with respect to any payment period ending prior to such request, the correctness of any report or payment made under this Agreement, or to obtain information as to the payments due for any such period in which the Licensee failed to report or
make payment pursuant to the terms of this Agreement. 
 10.3 Confidentiality of Audit. The Accountant must not disclose to University any
information relating to the business of Licensee except that which is strictly necessary to inform University of: 
 (a) the accuracy or inaccuracy of
Licensee’s reports and payments; (b) compliance or noncompliance by Licensee with the terms and conditions of this Agreement; (c) the extent of any inaccuracy or noncompliance; and (d) any information that the accountant believes
materially relates to Article 10.2 of this Agreement. Information disclosed by the Accountant to University shall be considered Confidential Information of Licensee. University shall ensure that the Accountant is bound by similar confidentiality as
obligations as apply to University according to Article 5. 

 10.4 Audit Findings. Should the Accountant believe there is an inaccuracy in any of the
Licensee’s payments or noncompliance by the Licensee with any of such terms and conditions, the Accountant will have the right to make and retain copies (including photocopies) of any pertinent portions of the records and books of account. In
the event that Licensee’s royalties calculated for any quarterly period are underreported by more than [***] percent ([***]%), [***] will be borne by Licensee; otherwise, University will bear [***]. 

11.0 Term and Termination of Agreement 
 11.1
Term. The term of this Agreement will commence on the Original Effective Date and will continue until the last of the Licensed Patents expires (such expiration to occur only after expiration of extensions of any nature to such patents which
may be obtained under applicable statutes or regulations in the respective countries of territory, such as the Drug Price Competition and Patent Term Restoration Act of 1984 in the U.S.A. and similar patent extension laws in other countries), unless
sooner terminated in accordance with the provisions set forth in this Article 11.0 (Term and Termination of Agreement) of this Agreement. 
 11.2
Termination for Breach; Acknowledgment. University may terminate this Agreement effective [***] after Licensee’s receipt of University’s Notice of Termination, if Licensee (a) materially breaches this agreement through
default in payment of Earned Royalties, distributions or in providing reports, (b) intentionally provides a false report, or (c) otherwise materially breaches this Agreement and, in each case, does not cure such breach within [***] after
receiving the Notice of Termination by University. Licensee agrees that any and all diligence requirements and milestones are material license terms, as are all royalty and payment requirements. 

University acknowledges and agrees (1) that all of the fees, expenses or other consideration (including equity consideration) payment obligations arising
under the Prior Agreements that are due prior to the date of this Agreement have been paid or otherwise satisfied in full and that no further equity is due or payable to University from the continuing parties pursuant to this Agreement or otherwise,
and (2) that the continuing and prior parties to this Agreement have satisfied all of the covenants and obligations arising from or related to the Prior Agreements that were required to be performed prior to the date of this Agreement. 

11.3 Termination for Bankruptcy. This Agreement and the license granted hereunder will terminate immediately in the event that: (a) Licensee
seeks liquidation, reorganization, dissolution or winding-up of itself, is insolvent or evidence exists as to its insolvency, or Licensee makes any general assignment for the benefit of its creditors;
(b) a petition is filed by or against Licensee, or any proceeding is initiated by or against Licensee, or any proceeding is initiated against Licensee as a debtor, under any bankruptcy or insolvency law, unless the laws then in effect void the
effectiveness of this provision; (c) a receiver, trustee, or any similar officer is appointed to take possession, custody, or control of all or any part of Licensee’s assets or property; or (d) Licensee adopts any resolution of its
Board of Directors or stockholders for the purpose of effecting any of the foregoing. 
 11.4 Licensee’s Right to Terminate. Licensee will
have a right to terminate this Agreement with or without cause, upon [***] prior written notice to University. 

 11.5 No Other Remedies Affected. The provisions under which this Agreement may be terminated
will be in addition to any and all other legal remedies which either party may have for the enforcement of any and all terms hereof, and do not in any way limit any other legal remedy such party may have. 

11.6 Termination Ends Grant of Rights. Termination of this Agreement will terminate all rights and licenses granted to Licensee under Article 3.0
of this Agreement. 
 11.7 Effect of Termination on Sublicense. Upon termination of this Agreement, any and all existing Sublicenses will
terminate or convert to a license directly between the Sublicensee and the University pursuant to Article 4.3 of this Agreement. 
 11.8 Effect of
Termination on Financial Obligations. Termination by University or Licensee under the options set forth in this Agreement will not relieve Licensee from any financial obligations to University arising from this Agreement that accrue prior to or
after termination, or from performing according to any and all other provisions of this Agreement that survive termination. 
 11.9 In the event that
there remain no valid, enforceable, and infringed Licensed Patents covering Licensed Products, then (a) following termination Licensee and any Sublicensees will have no further obligation to pay royalties thereon or to account to University
therefor and (b) the license to Licensed Know-How set forth in Section 3.1(ii) will survive and continue to apply to any products that were Licensed Products. 

11.10 Final Report. Within [***] of termination of this Agreement, Licensee shall submit a final report. Any royalty payments or patent expense
reimbursements due to University will become immediately due and payable upon termination. 
 12.0 Notices 

Any notice or other communication will be in writing and will be deemed to have been properly given and be effective (i) upon the date of delivery if
delivered in person, by facsimile, or courier service to the respective addresses set forth below, or to such other address as either party will designate by written notice given to the other party, or (ii) [***] after mailing, if mailed by
first-class or certified mail, postage paid, or to the respective addresses below. If notice or other communication is given by facsimile transmission or electronic mail transmission, said notice will be confirmed by prompt delivery of the hardcopy
original. 
 In the case of Licensee: Sana 
 [***] 

In the case of University: 
 [***] 

 13.0 Proprietary Rights 

Licensee will not, by performance under this Agreement, obtain any ownership interest in Licensed Patents or any other proprietary rights or information of
University, its officers, inventors, employees, students, or agents. 
 14.0 Patent Marking 

Licensee must mark, and must require any Sublicensee to mark, any and all material forms of Licensed Products or packaging pertaining thereto made and sold by
Licensee (and/or by its Sublicensees) in the United States with an appropriate patent marking consistent with the requirements of 35 U.S. Code § 287(a). All Licensed Products shipped to or sold in other countries must be marked in such a manner
as to provide notice to potential infringers pursuant to the patent laws and practice of the country of manufacture or sale. 
 15.0 Patent
Infringement 
 15.1 Notification of Infringement. University and Licensee will promptly notify each other of any infringement or
possible infringement of the Licensed Patents, as well as any facts that may affect the validity, scope, or enforceability of the Licensed Patents, of which either party becomes aware. Both parties shall use reasonable efforts and cooperation to
terminate infringement without litigation. 
 15.2 Rights to Sue for Infringement. Pursuant to this Agreement and the provisions of Chapter 29
of Title 35, United States Code, [***] may a) bring suit in its own name, at its own expense, and on its own behalf for infringement of presumably valid claims in the Licensed Patents and defend in its own name, at its own expense, any allegation of
invalidity or non-infringement of any of the Licensed Patents brought in a declaratory judgment action or raised by way of counterclaim or affirmative defense in an infringement suit brought by the [***]; b)
in any such suit, enjoin infringement and collect for its use damages, profits, and awards of whatever nature recoverable for such infringement; and c) settle any claim or suit for infringement of the Licensed Patents. [***] will have the first
right to bring or defend such suit(s). [***] may request [***] to initiate or join any such suit if necessary to avoid dismissal of the suit. Should [***] be made a party to any such suit at the request of the [***] must reimburse [***] for any
costs, expenses, or fees that [***] incurs as a result of such motion or other action, including any and all costs incurred by [***] in opposing any such motion or other action. In all cases, [***] will keep [***] reasonably apprised of the status
and progress of any litigation. Before [***] commences an infringement action, [***] must notify [***] and give careful consideration to the views of [***] in deciding whether to bring suit. If [***] notifies the [***] that it will not be bringing
suit for infringement of claims of Licensed Patents, [***] shall have the right to bring and control any such action at its own expense and by counsel of its own choosing. If [***] elects not to defend against any declaratory judgment action
alleging invalidity or non-infringement of any of the Licensed Patents, [***], at its option, may do so at its own expense. 

 15.3 Application of Amounts Recovered. Up to [***] percent ([***] %) of the expenses
(including costs, fees, attorneys’ fees and disbursements) paid by Licensee with respect to an action commenced or defended under Article 15.2 may be credited against the Earned Royalties payable to University under Article 8.4 under the
Licensed Patents in the country in which such a suit is filed. In the event that [***] percent ([***] %) of such expenses exceed the amount of Earned Royalties payable by Licensee in any calendar year, the expenses in excess may be carried over as a
credit on the same basis into succeeding calendar years. A credit against litigation expenses, however, may not reduce the royalties due in any one year to less than the Minimum Annual Royalties set forth in Article 8.3. Any recovery made by
Licensee, through court judgment or settlement, first must be [***]. Any remaining recoveries shall be [***]. 
 15.4 [***] will cooperate fully with
[***] in connection with an infringement action initiated under Article 15.2. [***] will promptly provide access to all necessary documents and render reasonable assistance in response to a request by [***]. 

16.0 Patent Validity 
 16.1 If any claim
challenging the validity or enforceability of any of Licensed Patents will be brought against either party, such party will promptly notify the other. [***], at its option, will have the first right, exercisable within [***] after notification by
[***] or [***] of such action, to initiate the defense of the claim at [***] expense. If [***] does not initiate such defense within such time period then [***] shall have the right to take over such defense of such claim at its sole expense.
Notwithstanding anything to the contrary, neither party shall compromise or settle any such defense of such claim described in this Section 16.1 in a manner that (a) admits the invalidity or unenforceability of any Licensed Patent or
(b) admits any liability by or imposes any obligation on the other party, in each case ((a) and (b)), without the prior written consent of such other party, which consent shall not be unreasonably withheld, conditioned or delayed. 

16.2 If Licensee or third party challenges the validity or enforceability of any of Licensed Patents, Licensee will not suspend any payments due
University until such time as the Licensed Patents are determined to be invalid or unenforceable by a final judgment of a court of competent jurisdiction from which no appeal can be or is taken. 

17.0 Use of Names 
 Nothing contained in this
Agreement will be construed as conferring any right to use in advertising, publicity or other promotional activities any name, trade name, trademark or other designation of a party hereto including any contraction, abbreviation or simulation of any
of the foregoing, unless the express written permission of the other party has been obtained, provided that all parties may state the existence of this Agreement and the fact that all parties entered into it. For any other use other than the
foregoing, Licensee hereby expressly agrees not to use the name “University of Rochester” without prior written approval from University and University expressly agrees not to use the name “Oscine” or “Sana” without
prior written approval from Licensee. 

 18.0 Representations and Warranties and Certain Covenants 

18.1 University Representations, Warranties and Certain Covenants regarding Licensed Patents. University represents and warrants as of the
Effective Date of this Agreement that it: (a) it is the sole owner of the Licensed Patents, other than those Licensed Patents specifically identified by [***] and [***] in Exhibit A (the “[***] Patents”) for which [***] has granted
University the sole right to license under that certain [***]; (b) the list of the Licensed Patents contained in Appendix A is accurate and complete in all respects; (c) has the right to grant the licenses in and to Licensed Patents and
Licensed Know as set forth in this Agreement; and (d) it has not granted any licenses under the Licensed Patents which would conflict with the rights granted herein. In addition, with respect to [***], University represents, warrants and
covenants that (i) it has the sole right and authority to grant licenses and other rights including rights of patent prosecution and enforcement under [***] interest in and to [***], (ii) University and [***] have entered into that the [***],
which authorizes University to grant the rights granted hereunder with respect to the [***] Patents, and (iii) University will not terminate [***] or permit [***] to be terminated without the express written consent of Licensee, and University
will not commit any act or omission that would give rise to [***] right to terminate [***] . 
 18.2 Disclaimers. Nothing in this Agreement
will be construed as: 
 (a) A representation or warranty by University as to the patentability, validity, scope, or usefulness of Licensed
Patents; 
 (b) A representation or warranty by University that anything made, used, sold, or otherwise disposed of under any license granted
in this Agreement is or will be free from infringement of third-party patents or other proprietary rights, or University patents or other proprietary rights not included in Licensed Patents; or 

(c) An obligation to bring or prosecute actions or suits against third parties for patent infringement. 

UNIVERSITY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, PERTAINING TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF
THE PATENT RIGHTS, THE LICENSED PRODUCTS, OR ANYTHING ELSE LICENSED, DISCLOSED, OR OTHERWISE PROVIDED TO LICENSEE UNDER THIS AGREEMENT. UNIVERSITY’S TOTAL LIABILITY UNDER THIS AGREEMENT IS LIMITED TO THE COSTS AND FEES PAID TO UNIVERSITY UNDER
THIS AGREEMENT. 
 19.0 Indemnification 
 19.1
INDEMNIFICATION BY LICENSEE. LICENSEE AGREES THAT IT WILL DEFEND, INDEMNIFY AND HOLD HARMLESS UNIVERSITY, ITS FACULTY MEMBERS, SCIENTISTS, RESEARCHERS, EMPLOYEES, OFFICERS, TRUSTEES, AND AGENTS AND EACH OF THEM (THE “INDEMNIFIED
PARTIES”), FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, LAWSUITS, OR OTHER PROCEEDINGS (THE “CLAIMS”) FILED OR OTHERWISE INSTITUTED AGAINST ANY OF THE INDEMNIFIED PARTIES RELATED DIRECTLY OR INDIRECTLY TO OR ARISING OUT OF
[***] 

 
[***]; PROVIDED, HOWEVER, THAT SUCH INDEMNITY WILL NOT APPLY TO ANY CLAIMS ARISING FROM THE [***]. LICENSEE WILL ALSO ASSUME RESPONSIBILITY FOR ALL COSTS AND EXPENSES RELATED TO SUCH CLAIMS FOR
WHICH IT IS OBLIGATED TO INDEMNIFY THE INDEMNIFIED PARTIES PURSUANT TO THIS ARTICLE 19.1, INCLUDING, BUT NOT LIMITED TO, THE PAYMENT OF ALL REASONABLE ATTORNEYS’ FEES AND COSTS OF LITIGATION OR OTHER DEFENSE. 

19.2 INDEMNIFICATION BY UNIVERSITY. UNIVERSITY AGREES THAT IT WILL DEFEND, INDEMNIFY, AND HOLD HARMLESS LICENSEE, ITS AFFILIATES AND SUBLICENSEES
AND THEIR EMPLOYEES, CONSULTANTS, DIRECTORS, OFFICERS, CUSTOMERS, AND AGENTS AND EACH OF THEM (THE “INDEMNIFIED PARTIES”), FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, LAWSUITS, OR OTHER PROCEEDINGS (THE “CLAIMS”) FILED
OR OTHERWISE INSTITUTED BY THIRD PARTIES AGAINST ANY OF THE INDEMNIFIED PARTIES RELATED DIRECTLY OR INDIRECTLY TO OR ARISING OUT OF [***]; PROVIDED, HOWEVER, THAT SUCH INDEMNITY WILL NOT APPLY TO ANY CLAIMS ARISING FROM [***]. UNIVERSITY WILL ALSO
ASSUME RESPONSIBILITY FOR ALL COSTS AND EXPENSES RELATED TO SUCH CLAIMS FOR WHICH IT IS OBLIGATED TO INDEMNIFY THE INDEMNIFIED PARTIES PURSUANT TO THIS ARTICLE 19.2, INCLUDING, BUT NOT LIMITED TO, PAYMENT OF ALL REASONABLE ATTORNEYS’ FEES AND
COSTS OF LITIGATION OR OTHER DEFENSE. 
 19.3 NOTICE. IT SHALL BE A CONDITION PRECEDENT TO AN INDEMNIFIED PARTY’S RIGHT TO SEEK
INDEMNIFICATION UNDER ARTICLE 19.1 OR 19.2 THAT SUCH PARTY SHALL (A) PROMPTLY NOTIFY THE INDEMNIFYING PARTY OF A CLAIM AS SOON AS IT BECOMES AWARE OF SUCH CLAIM, (B) ALLOW THE INDEMNIFYING PARTY TO ASSUME CONTROL OF THE DEFENSE OF SUCH
CLAIM, AND (C) COOPERATE WITH THE INDEMNIFYING PARTY IN SUCH DEFENSE. 
 19.4 Special Damages. No party shall be liable for any indirect,
special, consequential, or other similar damages whatsoever whether grounded in tort, strict liability, contract, or otherwise. The University shall not have any responsibility or liability whatsoever with respect to Licensed Products. 

20.0 Applicable Laws 
 20.1 Compliance
with Laws. Licensee will abide by all applicable federal, state, and local laws and regulations pertaining to the management and commercial deployment of Licensed Products under this Agreement. 

 20.2 Export Control Laws. It is understood that University is subject to United States laws
and regulations controlling the export of technical data, computer software, laboratory prototypes, and other commodities (including the Arms Export Control Act, as amended, and the Export Administration Act of 1979), and that its obligations
hereunder are contingent on compliance with applicable United States export laws and regulations. The transfer of certain technical data and commodities may require a license from the United States Government and/or written assurances by Licensee
that Licensee will not export data or commodities to certain foreign countries without prior approval of the United States Government. University represents neither that a license will not be required nor that, if required, such a license will be
issued. 
 20.3 Governing Law. This Agreement will be construed in accordance with, and its performance will be governed by, the laws of the
State of New York, without giving effect to the principles of conflict of laws of New York. [***] 
 21.0 Dispute Resolution 

21.1 The parties will negotiate in good faith any controversy or disputed claim by either party arising under or related to this Agreement. If no
resolution of such controversy or disputed claim is reached between the parties within [***] of the commencement of negotiations, the parties will submit to mediation before a mutually acceptable mediator. Such mediation shall be completed within
[***] of the end of the [***] negotiation period, unless extended by mutual agreement. The parties will split the mediator costs equally, and each party will pay its own costs of preparing for and participating in the mediation. If the controversy
or dispute remains unresolved at the end of the mediation, then any party may proceed to resort to the courts of the [***] for resolution. 
 22.0
General 
 22.1 Severability. If any provision of this Agreement will be held to be invalid, illegal, or unenforceable, the
validity, legality, and enforceability of the remaining provisions will not be in any way affected or impaired thereby. 
 22.2 No Waiver. No
omission or delay of any party hereto in requiring due and punctual fulfillment of the obligations of any other party hereto will be deemed to constitute a waiver by such party of its rights to require such due and punctual fulfillment, or of any
other of its remedies hereunder. 
 22.3 Amendments. No amendment or modification hereof will be valid or binding upon the parties unless it is
made in writing, cites this Agreement, and is signed by duly authorized representatives of University and Licensee. 
 22.4 Assignment. This
Agreement, and any rights or obligations hereunder, may be assigned by University to affiliated entities within the University of Rochester system, such as a technology transfer entity or other affiliated University entity. University shall give
prior written notice to Licensee of any assignment of its rights and/or obligations under this Agreement according to the foregoing provisions. Unless otherwise follows from the Agreement, Licensee will not assign, transfer, or delegate in whole or
in part this Agreement, and any of its rights or obligations hereunder without University’s express written approval, such approval not to be unreasonably withheld. Notwithstanding the foregoing, Licensee shall

 
be entitled to transfer all of Licensee’s rights and obligations hereunder to (i) Affiliates, or (ii) in connection with an Acquisition of Licensee or its Affiliates without
University’s express written approval. Any attempted assignment, transfer, or delegation in breach of this provision will be deemed to be void and to have no effect, and will entitle University to terminate this Agreement upon written notice to
Licensee. Except as otherwise provided, this Agreement will be binding upon and inure to the benefit of the parties’ successors and lawful assigns. 

22.5 Headings; Interpretation. The headings of the several sections of this Agreement are inserted for convenience and reference only, and are
not intended to be a part of or to affect the meaning or interpretation of this Agreement. The words “include” and “including” and variations thereof, will not be deemed to be terms of limitation, but rather will be deemed to be
followed by the words “without limitation.” The word “law” when used herein means any applicable, legally binding statute, ordinance, resolution, regulation, code, guideline, rule, order, decree, judgment, injunction, mandate or
other legally binding requirement of a government entity. 
 22.6 University’s Disclaimers. Neither University, nor any of its faculty
members, scientists, researchers, employees, officers, trustees, or agents assume any responsibility for the manufacture, product specifications, sale, or use of the Licensed Products that are manufactured by or sold by Licensee. 

22.7 No Endorsement. By entering into this Agreement, University neither directly nor indirectly endorses any product or service provided, or to
be provided, by Licensee whether directly or indirectly related to this Agreement. Licensee will not state or imply that this Agreement is an endorsement by University or its employees. 

22.8 Independent Contractors. The parties hereby acknowledge and agree that each is an independent contractor and that no party will be
considered to be the agent, representative, master, or servant of any other party for any purpose whatsoever, and that no party has any authority to enter into a contract, to assume any obligation, or to give warranties or representations on behalf
of any other party. Nothing in this relationship will be construed to create a relationship of joint venture, partnership, fiduciary or other similar relationship between or among the parties. 

22.9 Reformation. The parties hereby agree that no party intends to violate any public policy, statutory or common law, rule, regulation, treaty,
or decision of any government agency or executive body thereof of any country or community or association of countries, and that if any word, sentence, paragraph or clause or combination thereof of this Agreement is found, by a court or executive
body with judicial powers having jurisdiction over this Agreement or any of the parties hereto, in a final, unappealable order, to be in violation of any such provision in any country or community or association of countries, such words, sentences,
paragraphs, or clauses or combination will be inoperative in such country or community or association of countries, and the remainder of this Agreement will remain binding upon the parties hereto. 

22.10 Force Majeure. No liability hereunder will result to a party by reason of delay in performance caused by force majeure, that is,
circumstances beyond the reasonable control of the Party, including, without limitation, acts of God, fire, flood, earthquake, war, terrorism, civil unrest, labor unrest, or shortage of or inability to obtain material or equipment. 

 22.11 Survival. Sections 3.7 (and the provisions set forth therein as described therein), 5.2
(Confidential Information) and 11.7, 11.8 and 11.10 (Term and Termination); and Articles 10.0 (Record Keeping), 18.0 (Representations and Warranties), 19.0 (Indemnification), 20.0 (Applicable Law), 21.0 (Dispute Resolution), and other provisions
that by their context would survive, will survive the termination of this Agreement. 
 22.12 Entire Agreement. This Agreement embodies the
entire understanding of the parties and supersedes all previous communications, representations, or understandings, either oral or written, between the parties relating to the subject matter hereof. 

 IN WITNESS WHEREOF, the parties set forth below agree to the
amendment and restatement of the Agreement as set forth herein. 
  

									
	OSCINE CORP.	  		  	UNIVERSITY OF ROCHESTER
					
	By:	  	 /s/ Christina Trojel-Hansen
	  	            	  	By:	  	 /s/ Scott J. Catlin

	Name: Christina Trojel-Hansen, Ph.D.	  		  	Name: Scott J. Catlin
	Title: Chief Executive Officer	  		  	Title: AVP, Technology Ventures
	Date: September 10, 2020	  		  	Date: September 3, 2020
			
	SANA BIOTECHNOLOGY, INC.	  		  	
				
	By:	  	 /s/ Christian Hordo
	  		  	
	Name: Christian Hordo	  		  	
	Title: Chief Business Officer	  		  	
	Date: September 10, 2020	  		  	

 IN WITNESS WHEREOF, Holdings consents and agrees to the amendment and restatement of the Agreement as set forth herein
and the termination of it as a party thereto. 
 OSCINE HOLDINGS LLC     

 

			
	By:	 	 /s/ Christina Trojel-Hansen

	Name:	 	Christina Trojel-Hansen, Ph.D.
	Title:	 	Manager
	Date:	 	September 10, 2020

 APPENDIX A 

Licensed Patents as of the Effective Date 

[***] 

 APPENDIX B 

Commercial Development Plan 
 For
development of stem cells therapy products, reasonable effort will be dedicated to achieving the following milestones for product development and clinical trials: 

[***] 

 APPENDIX C 

Benchmarks 
 The Licensee (including the
efforts of its Sublicensee) shall make commercially reasonable efforts to meet the following Benchmarks: 
 [***] 

 APPENDIX D 

Prior Patent Cost Reimbursement Payment Schedule 
 [***]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00319-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00319-of-00352.parquet"}]]