Document:

EX-10.16

 Exhibit 10.16 

VALERITAS, INC. 
 VOTING
AGREEMENT 
 This Voting Agreement (the “Agreement”) is made and entered into as of June 23, 2014, by and among
(i) Valeritas, Inc., a Delaware corporation (the “Company”), (ii) the holders of the Company’s issued and outstanding shares of Series D Preferred Stock and Common Stock listed on Schedule A attached hereto
(collectively, the “Investors”), and (iii) the holders of the Company’s issued and outstanding shares of Common Stock and holders of options to acquire the Company’s Common Stock listed on Schedule B attached
hereto or who hereafter become party to this Agreement (collectively, the “Other Stockholders” and together with the Investors, the “Stockholders”). The Company, the Investors and the Other Stockholders are individually referred
to herein as a “Party” and are collectively referred to herein as the “Parties.” The Company’s Board of Directors is referred to herein as the “Board.” Certain other capitalized terms used in this Agreement but not
defined where first used in this Agreement are defined in Section 24 of this Agreement. 
 WITNESSETH: 

WHEREAS, effective as of June 19, 2014, the Company restructured its capitalization through the merger of a wholly-owned
subsidiary of Valeritas Holdings, LLC (“Holdings”) into the Company pursuant to the Agreement and Plan of Merger and Reorganization, dated June 9, 2014 (the “Merger”). As a result of the Merger, the Company became a
wholly-owned subsidiary of Holdings, and the former holders of capital stock of the Company then outstanding became holders of Holdings membership interests; 

WHEREAS, following the effective time of the Merger, the Company’s Certificate of Incorporation then in effect was amended and
restated under the Fifth Amended and Restated Certificate of Incorporation (the “Restated Certificate”), which provides that holders of shares of Common Stock and holders of shares of Series D Preferred Stock, voting together as a single
class on an as converted to Common Stock basis, shall be entitled to elect the members of the Board; 
 WHEREAS, concurrently with
the execution of this Agreement, the Company and certain of the Investors are entering into a Series D Preferred Stock Purchase Agreement (the “Purchase Agreement”), pursuant to which the Investors are purchasing shares of the
Company’s Series D Preferred Stock; and 
 WHEREAS, the Company, the Investors and the Other Stockholders desire to have their
respective voting rights and certain other rights and restrictions governed by this Agreement. 
 NOW, THEREFORE, in consideration of
the foregoing premises and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

1. Agreement to Vote. Each Investor, as a holder of shares of Series D Preferred Stock or Common Stock, hereby agrees on behalf of
itself and any transferee or assignee of any such shares of Series D Preferred Stock or Common Stock, to hold all of the shares of Series D Preferred Stock and Common Stock registered in its name (and any securities of the Company issued with
respect to, upon conversion of, or in exchange or substitution of such Series D Preferred Stock, and any other voting securities of the Company subsequently acquired by such Investor) (the “Investor Shares”) subject to, and to vote the
Investor Shares at a regular or special meeting of stockholders (or by written consent) in accordance with, the provisions of this Agreement. Each Other Stockholder hereby agrees on behalf of itself and any transferee or assignee to hold all of the
shares of Common Stock and any other securities of 

 
the Company acquired by such Other Stockholder, in the future (and any securities of the Company issued with respect to, upon conversion of, or in exchange or substitution for such securities)
(the “Other Shares”) subject to, and to vote the Other Shares, if such securities are entitled to vote, at a regular or special meeting of stockholders (or by written consent) in accordance with, the provisions of this Agreement. 

2. Board Size. The holders of Investor Shares and Other Shares shall vote, or cause to be voted, at a regular or special meeting of
stockholders (or by written consent) such shares that they own (or as to which they have voting power) to ensure that the size of the Board shall be set and remain at nine (9) directors; provided, however, that such Board size may
be subsequently increased or decreased pursuant to an amendment of this Agreement in accordance with Section 16 hereof. 
 3.
Election of Directors; Chairman of the Board. In any election of directors of the Company, the Investors and Other Stockholders holding securities of the Company entitled to vote thereon, voting together as a single class on an as converted
to Common Stock basis, shall each vote, or cause to be voted, at any regular or special meeting of stockholders (or by written consent), such number of voting securities of the Company then owned by them (or as to which they then have voting power)
as may be necessary to elect: 
 (a) four (4) directors designated by Welsh, Carson, Anderson & Stowe XI, L.P. or its Affiliates
for so long as such Persons and their Affiliates continue to own beneficially any shares of Common Stock of the Company (including shares of Common Stock issued or issuable upon conversion of Series D Preferred Stock), which individuals shall
initially be Daniel Pelak, Paul Queally, Sean Traynor and John Barr; 
 (b) one (1) director designated by MPM BioVentures IV GP, LLC
or its Affiliates for so long as such Persons and their Affiliates continue to own beneficially any shares of Common Stock of the Company (including shares of Common Stock issued or issuable upon conversion of Series D Preferred Stock), which
individual shall initially be Todd Foley; 
 (c) one (1) director designated by Pitango Venture Capital Fund V, L.P. or its Affiliates
for so long as such Persons and their Affiliates continue to own beneficially any shares of Common Stock of the Company (including shares of Common Stock issued or issuable upon conversion of Series D Preferred Stock), which individual shall
initially be Ittai Harel; 
 (d) one (1) director designated by ONSET VI, L.P. or its Affiliates for so long as such Persons and their
Affiliates continue to own beneficially any shares of Common Stock of the Company (including shares of Common Stock issued or issuable upon conversion of Series D Preferred Stock), which individual shall initially be John Ryan; 

(e) one (1) independent director, who is not employed by the Company and not affiliated with any holder of Series D Preferred Stock,
designated by WCAS Valeritas Holdings, LLC or its Affiliates (the “Independent Director”) for so long as such Persons and their Affiliates continue to own beneficially any shares of Common Stock of the Company (including shares of Common
Stock issued or issuable upon conversion of Series D Preferred Stock), which designee shall initially be Steve LaPorte; and 
 (f) one
(1) director who is the Company’s Chief Executive Officer, who shall initially be Kristine Peterson (the “CEO Director”), provided that if for any reason the CEO Director shall cease to serve as the Chief Executive Officer
of the Company, the Investors and Other Stockholders shall promptly vote their respective voting securities (i) to remove the former Chief Executive Officer from the Board if such person has not resigned as a member of the Board and
(ii) to elect such person’s replacement as Chief Executive Officer of the Company as the new CEO Director. 

  
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 To the extent that any of clauses (a) through (e) above shall not be applicable, any
member of the Board who would otherwise have been designated in accordance with the terms thereof shall instead be voted upon by all the stockholders of the Company entitled to vote thereon in accordance with, and pursuant to, the Company’s
Restated Certificate. 
 In any election of the Chairman of the Board, the persons that have nominated a director to the Board pursuant to
subsections 3(a) through 3(e) above shall use their best efforts to cause any director who has been designated by such persons in accordance with the terms of this Section 3, at any annual or special meeting of the Board, however called,
and in any action by written consent of the Board, to vote in favor of the election of a Chairman of the Board nominated by Welsh, Carson, Anderson & Stowe XI, L.P. or its Affiliates pursuant to Section 3(a), who shall initially be
Daniel Pelak (the “Chairman”). 
 4. Removal. Each Stockholder also agrees to vote, or cause to be voted, all Investor
Shares and Other Shares owned by such Stockholder, as applicable, or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that: 

(i) no director elected pursuant to Sections 3(a) through (e) of this Agreement may be removed from office unless (i) such removal
is directed or approved by the affirmative vote or consent of the Person entitled to designate that director; or (ii) the Person(s) entitled to designate or approve such director is no longer so entitled to designate or approve such director;

 (ii) any vacancies created by the resignation, removal or death of a director elected pursuant to Sections 3 shall be filled pursuant to
the provisions of Section 3; and 
 (iii) upon the request of any party entitled to designate a director as provided in Sections 3(a)
through (e) to remove such director, such director shall be removed. 
 5. Transfers; Drag-Along Right; Tag-Along Right. 

(a) Transfers. Each Stockholder agrees that it shall not transfer any shares of capital stock of the Company owned by it except as
expressly provided in Sections 5(b), (c) and (d). Any transfer or attempted transfer of any such shares in violation of any provision of this Agreement shall be void ab initio, and the Company shall not record any such transfer on its books or
treat any purported transferee of such shares as the owner of such shares for any purpose. 
 (b) Drag-Along Right. In the event
that (i) the Board and (ii) (A) prior to the time of a Holdings Liquidation, Holdings or (B) on or after the time of a Holdings Liquidation, the Required Series D Holders, approve a Sale of the Company (as defined below), then
each Stockholder hereby agrees with respect to all securities of the Company which it own(s) or otherwise exercises voting or dispositive authority: 

(i) in the event such transaction is to be brought to a vote at a stockholder meeting, after receiving proper notice of any meeting of
stockholders of the Company to vote on the approval of such Sale of the Company, to be present, in person or by proxy, as a holder of shares of voting securities, at all such meetings and be counted for the purposes of determining the presence of a
quorum at such meetings; 

  
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 (ii) to vote or cause to be voted (in person, by proxy or by action by written consent, as
applicable) all shares of the capital stock of the Company as to which it has beneficial ownership in favor of such Sale of the Company and in opposition of any and all other proposals that could reasonably be expected to delay or impair the ability
of the Company to consummate such Sale of the Company; 
 (iii) to refrain from exercising any dissenters’ rights or rights of
appraisal under applicable law at any time with respect to such Sale of the Company; 
 (iv) to execute and deliver all related
documentation and take such other action in support of or to consummate such Sale of the Company as shall reasonably be requested by the Company; and 

(v) except for this Agreement, no Stockholder, or any Affiliate thereof, shall deposit any shares of capital stock beneficially owned by such
Stockholder, or an Affiliate thereof, in a voting trust or subject any such shares of capital stock to any arrangement or agreement with respect to the voting of such shares of capital stock. 

Notwithstanding the foregoing, no Investor shall be required to vote in the manner described by this Section 5(b) unless (i) the net proceeds of
such Sale of the Company are to be distributed to stockholders of the Company in accordance with Section 2 of Article IV(B) of the Restated Certificate, (ii) any representation or warranty required to be made by any Investor in
connection with such Sale of the Company shall be limited to customary representations and warranties relating to such Investor and shares of capital stock of the Company owned by such Investor, (iii) the liability for indemnification, if any,
of each Stockholder in the Sale of the Company for the inaccuracy of any representation or warranty made by the Company or applicable Stockholders in connection with such Sale of the Company, is several and not joint with any other person or entity
(although nothing set forth herein shall be deemed to mean that an escrow fund established from the proceeds of a Sale of the Company for indemnification of such inaccuracy shall be a violation of the foregoing), is pro rata in proportion to the
amount of consideration paid to such Stockholder in connection with such Sale of the Company and does not exceed the maximum amount of consideration to be received by such Stockholder from the Sale of the Company and (iv) if a choice with
regards to the form of consideration is given to any Investor then all Investors shall be given the same choice. 
 (c) Tag-Along
Rights. Except as provided in Section 5(d), each Investor may transfer shares of capital stock of the Company owned by it, provided that as a condition of such Proposed Transfer such Investor grants to each other Party a Tag-Along
Right with respect to such Proposed Transfer, in which case, the following terms and conditions shall apply: 
 (i) Notice. The
Investor proposing to make a Proposed Transfer (the “Transferring Holder”) must deliver a Proposed Transfer Notice to each other Party not later than thirty (30) days prior to the consummation of such Proposed Transfer. 

(ii) Exercise of Right. Each respective Party (except for the Transferring Holder) may elect to exercise its Tag-Along Right and
participate on a pro rata basis (as described in subsection 5(d)(iii)) in such Proposed Transfer on the same terms and conditions specified in the Proposed Transfer Notice. Each Party who desires to exercise its Tag-Along Right (each, a
“Participating Investor”) must give the Transferring Holder written notice to that effect within fifteen (15) days after delivery of the Proposed Transfer Notice, and upon giving such notice such Participating Investor shall be deemed
to have effectively exercised its Tag-Along Right. 

  
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 (iii) Shares Includable. Each Participating Investor may include in the Proposed Transfer
all or any part of such Participating Investor’s Investor Shares or Other Shares equal to the product obtained by multiplying (i) the aggregate number of shares of Transfer Stock subject to the Proposed Transfer by (ii) a fraction,
the numerator of which is the number of Investor Shares (on an as-converted to Common Stock basis) and Other Shares owned by such Participating Investor immediately before consummation of the Proposed Transfer and the denominator of which is the
total number of Investor Shares (on an as-converted to Common Stock basis) and Other Shares outstanding immediately prior to the consummation of the Proposed Transfer. 

(iv) Purchase and Sale Agreement. The Participating Investors and the Transferring Holder agree that the terms and conditions of any
Proposed Transfer will be memorialized in, and governed by, a written purchase and sale agreement with the Prospective Transferee (the “Purchase and Sale Agreement”) with customary terms and provisions for such a transaction, and the
Participating Investors and the Transferring Holder further covenant and agree to enter into such Purchase and Sale Agreement as a condition precedent to any sale or other transfer in accordance with this Section 5(d). The Purchase and Sale
Agreement shall provide that the liability for indemnification by any Prospective Transferee shall not exceed the consideration received by such Prospective Transferee pursuant to the Purchase and Sale Agreement. 

(v) Allocation of Consideration. The aggregate consideration payable to the Participating Investors and the Transferring Holder shall
be allocated based on the number of shares of Transfer Stock sold to the Prospective Transferee by each Participating Investor and the Transferring Holder as provided in paragraph (iii) and shall be allocated to the Participating Investors and
the Transferring Holder in accordance with Section 2 of Article IV(B) of the Restated Certificate as if such transfer were a Liquidation Event (as defined in the Restated Certificate). 

(vi) Purchase by Selling Stockholder; Deliveries. Notwithstanding paragraph (iv) above, if any Prospective Transferee or
Transferees refuse(s) to purchase securities subject to the Tag-Along Right from any Participating Investor or upon the failure to negotiate in good faith a Purchase and Sale Agreement reasonably satisfactory to the Participating Investors, the
Transferring Holder and any Party may not sell any Transfer Stock to such Prospective Transferee or Transferees unless and until, simultaneously with such sale, the Transferring Holder purchases all securities subject to the Tag-Along Right from
such Participating Investor or Investors on the same terms and conditions (including the proposed purchase price) as set forth in the Proposed Transfer Notice and such other terms as such Participating Investor or Investors and the Transferring
Holder shall agree. In connection with such purchase by the Transferring Holder, such Participating Investor or Investors shall deliver to the Transferring Holder a stock certificate or certificates, properly endorsed for transfer, representing the
shares being purchased by the Transferring Holder. Each such stock certificate delivered to the Transferring Holder will be transferred to the Prospective Transferee against payment therefor in consummation of the sale of the Transfer Stock pursuant
to the terms and conditions specified in the Proposed Transfer Notice, and the Transferring Holder shall concurrently therewith remit or direct payment to each such Participating Investor the portion of the aggregate consideration to which each such
Participating Investor is entitled by reason of its participation in such sale as provided in this paragraph (vi). 
 (vii) Additional
Compliance. If any Proposed Transfer is not consummated within one hundred eighty (180) days after receipt of the Proposed Transfer Notice, the Transferring Holder may not sell any Transfer Stock unless they first comply in full with each
provision of this Section 5(c. The exercise or election not to exercise any right by any Party hereunder shall not adversely affect its right to participate in any other sales of Transfer Stock. 

  
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 (viii) Violation of Tag-Along If any Transferring Holder purports to sell any Transfer
Stock in contravention of the Tag-Along Right (a “Prohibited Transfer”), each Party who desires to exercise its Tag-Along Right may, in addition to such remedies as may be available by law, in equity or hereunder, require the Transferring
Holder to purchase from such Party the type and number of Investor Shares or Other Shares that such Investor would have been entitled to sell to the Prospective Transferee had the Prohibited Transfer been effected in compliance with the terms of
this Section 5(c). The sale will be made on the same terms and subject to the same conditions as would have applied had the Investor not made the Prohibited Transfer, except that the sale (including, without limitation, the delivery of the
purchase price) must be made within ninety (90) days after the Party learns of the Prohibited Transfer, as opposed to the timeframe proscribed in paragraph (ii) above. Such Transferring Holder shall also reimburse each Party for any and
all reasonable and documented out-of-pocket fees and expenses, including reasonable legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of the Investor’s Tag-Along Right.

 (d) Exempt Transfers. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Sections 5(a) and
(c) not apply: (i) in the case of a holder of Investor Shares or Other Shares that is an entity, upon a transfer by such holder to Affiliates, (ii) to a repurchase of Other Shares from an Other Stockholder by the Company at a price no
greater than that originally paid by such Other Stockholder for such Other Shares and pursuant to an agreement containing vesting and/or repurchase provisions approved by the Board, (iii) in the case of an Other Stockholder that is a natural
person, upon a transfer of Transfer Stock by such Other Stockholder made for bona fide estate planning purposes, either during his or her lifetime or on death by will or intestacy, to his or her spouse, child (natural or adopted), or any other
direct lineal descendant of such Other Stockholder (or his or her spouse) (all of the foregoing collectively referred to as “Family Members”), or any other relative approved by the Board, or any custodian or trustee of any trust,
partnership or limited liability company for the benefit of, or the ownership interests of which are owned wholly by, such Other Stockholder or any such Family Members, (iv) in the case of a holder of Investor Shares, upon a transfer by such
holder to another Investor or an Affiliate of such other Investor or (v) upon a Proposed Transfer approved by Holdings; provided that in the case of clauses (i), (iii), (iv), and (v), such shares of Transfer Stock shall at all times
remain subject to the terms and restrictions set forth in this Agreement and such transferee shall, as a condition to such issuance, deliver a counterpart signature page to this Agreement as confirmation that such transferee shall be bound by all
the terms and conditions of this Agreement as an Investor or Other Stockholder, as applicable, including the obligations with respect to Proposed Transfers of such Transfer Stock; and provided, further, in the case of any transfer pursuant to
clause (iii) above, that such transfer is made pursuant to a transaction in which there is no consideration actually paid for such transfer. 

(e) Certain Legal Requirements. In the event that the consideration to be paid in exchange for Investor Shares or Other Shares in a
Sale of the Company or a Proposed Transfer pursuant to Section 5(b) or Section 5(c) includes any securities, and the receipt thereof by an Investor or Other Stockholder would require under applicable law (i) the registration or
qualification of such securities or of any Person as a broker or dealer or agent with respect to such securities where such registration or qualification is not otherwise required for the Sale of the Company or the Proposed Transfer or (ii) the
provision to any Investor or Other Stockholder of any information regarding the Company, such securities or the issuer thereof, including by reason of the failure of one or more of such holders to be an “accredited investor” as such term
is defined in Rule 501 of Regulation D of the Securities Act, such holder(s) shall not have the right to sell its Investor Shares or Other Shares in such proposed transaction. In such event, the Company or the Transferring Holder, as applicable,
shall have the right, but not the obligation, to cause to be paid to such Investor or Other Stockholder in lieu thereof, against surrender of its Investor Shares or Other Shares which would have otherwise been sold in the proposed Sale of the
Company or Proposed Transfer, an amount in cash equal to the fair market value of such shares as of the date such securities would have been issued in exchange for such shares. 

  
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 6. Legend on Share Certificates. Each certificate representing any Investor Shares or
Other Shares shall be endorsed by the Company with a legend reading substantially as follows: 
 “THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT. 
 THE SHARES EVIDENCED
HEREBY ARE SUBJECT TO A STOCK PURCHASE AGREEMENT, VOTING AGREEMENT, AND INVESTORS’ RIGHTS AGREEMENT, AS EACH MAY BE AMENDED FROM TIME TO TIME (COPIES OF WHICH MAY BE OBTAINED FROM THE COMPANY WITHOUT COST UPON WRITTEN REQUEST), AND BY ACCEPTING
ANY INTEREST IN SUCH SHARES, THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID STOCK PURCHASE AGREEMENT, VOTING AGREEMENT, AND INVESTORS’ RIGHTS AGREEMENT, INCLUDING CERTAIN
RESTRICTIONS ON TRANSFER AND OWNERSHIP SET FORTH THEREIN.” 
 7. Covenant of the Company. The Company will not, by any voluntary
action, avoid or seek to avoid the observance or performance of any of the terms to be performed hereunder by the Company. 
 8. No
Liability for Election of Recommended Directors. Neither the Company, the Investors, the Other Stockholders, nor any officer, director, stockholder, partner, employee or agent of any such Party, makes any representation or warranty as to the
fitness or competence of the nominee of any Party hereunder to serve on the Board by virtue of such Party’s execution of this Agreement or by the act of such Party in voting for such nominee pursuant to this Agreement. 

9. Grant of Proxy. Upon the failure of any Investor or Other Stockholder to vote their Investor Shares or Other Shares, as applicable,
in accordance with the terms of this Agreement, such Party hereby grants to the Chairman of the Board a proxy coupled with an interest in all Investor Shares and Other Shares owned by such Party, which proxy shall be irrevocable until this Agreement
terminates pursuant to its terms or this Section 9 is amended to remove such grant of proxy in accordance with Section 16 hereof, to vote all such Investor Shares and Other Shares in the manner provided in this Agreement. 

10. Specific Enforcement. It is agreed and understood that monetary damages would not adequately compensate an injured Party for the
breach of this Agreement by any other Party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order.
Further, each Party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 
 11.
Execution by the Company. The Company, by its execution in the space provided below, agrees that it will cause the certificates issued after the date hereof evidencing the shares 

  
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of Investor Shares and Other Shares to bear the legend required by Section 6 hereof, and it shall supply, free of charge, a copy of this Agreement to any holder of a certificate evidencing
shares of capital stock of the Company upon written request from such holder to the Company at its principal office, free of charge. The parties hereto do hereby agree that the failure to cause the certificates evidencing the shares of Investor
Shares and Other Shares to bear the legend required by Section 6 hereof and/or failure of the Company to supply, free of charge, a copy of this Agreement, as provided under this Section 11, shall not affect the validity or enforcement of this
Agreement. 
 12. Captions. The captions, headings and arrangements used in this Agreement are for convenience only and do not in any
way limit or amplify the terms and provisions hereof. 
 13. Notices. All notices and other communications given or made pursuant
hereto shall be in writing and shall be deemed effectively given or delivered: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient; if not,
then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight
courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the addresses set forth on the signature pages attached hereto (or at such other addresses as shall be
specified by notice given in accordance with this Section 13). 
 14. Term. This Agreement shall terminate and be of no further
force or effect upon (a) the consummation of the Company’s sale of its Common Stock or other securities pursuant to a registration statement under the Securities Act of 1933, as amended (other than a registration statement relating either
to sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction) or (b) the consummation of a Sale of the Company. 

15. Manner of Voting. The voting of shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any
other manner permitted by applicable law. 
 16. Amendments and Waivers. Any term hereof may be amended and the observance of any
term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of (i) the Company, (ii) prior to the time of a Holdings Liquidation, Holdings and
(iii) the Required Series D Holders. Notwithstanding the foregoing, (a) this Agreement may not be amended and the observance of any term of this Agreement may not be waived with respect to any Investor holding Series D Preferred Stock, in
their capacities as such, without the written consent of such Investor holding Series D Preferred Stock, unless such amendment, termination or waiver applies to all such Investors holding Series D Preferred Stock, in their capacities as such,
in the same fashion; (b) this Agreement may not be amended and the observance of any term of this Agreement may not be waived with respect to any Other Stockholder without the written consent of such Other Stockholder unless such amendment,
termination or waiver applies to all Other Stockholders in the same fashion and (c) this Agreement may be amended without the consent of the Required Series D Holders to include securities to be issued in a subsequent equity financing. Any
amendment or waiver effected in accordance with this paragraph shall be binding upon the Company, each Investor and each Other Stockholder. 

17. Stock Splits, Stock Dividends, etc. In the event of any issuance of shares of the Company’s voting securities hereafter to any
of the Parties hereto (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization or the like), such shares shall become subject to this Agreement and shall be endorsed with the legend set
forth in Section 6. 

  
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 18. Severability. Whenever possible, each provision of this Agreement shall be interpreted
in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 19. Additional
Parties. 
 (a) In the event that, after the date of this Agreement, the Company enters into an agreement with any person to issue
shares of capital stock (treating for this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding options, warrants or convertible securities, as if exercised and/or converted or exchanged) to someone that is not a
party hereto, then the Company shall cause such person, as a condition to entering into such agreement, to become a party to this Agreement as an Other Stockholder, in the case of the issuance of Common Stock, and an Investor, in the case of
Preferred Stock, by executing and delivering the Adoption Agreement attached to this Agreement as Exhibit A. 
 (b) Notwithstanding
the terms of Section 16, Schedules A and B hereto may be amended by the Company from time to time without the consent of the other parties hereto to add information regarding Investors and Other Stockholders that become parties to
this Agreement pursuant Section 19(a) above. 
 20. Binding Effect. In addition to any restriction on transfer that may be
imposed by any other agreement by which any Party hereto may be bound, this Agreement shall be binding upon the Parties, their respective heirs, successors, transferees and assigns and to such additional individuals or entities that may become
stockholders of the Company and that desire to become Parties hereto; provided that for any such transfer to be deemed effective, the transferee shall have executed and delivered an Adoption Agreement substantially in the form attached hereto
as Exhibit A. Upon the execution and delivery of an Adoption Agreement by a transferee reasonably acceptable to the Company, such transferee shall be deemed to be a Party hereto as if such transferee’s signature appeared on the signature
pages hereto. By its execution hereof or any Adoption Agreement, each of the Parties hereto appoints the Company as its attorney-in-fact for the purpose of executing any Adoption Agreement which may be required to be delivered hereunder. 

21. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without
regard to conflicts of law principles thereof. 
 22. Entire Agreement. This Agreement is intended to be the sole agreement of the
Parties as it relates to the subject matter hereof and supersede all other agreements of the Parties relating to the subject matter hereof. 

23. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 
 24. Certain Other Definitions. In addition the terms defined
elsewhere in this Agreement, the following terms shall have the definitions set forth below for the purposes of this Agreement: 
 (a)
“Affiliate” means any Person who, directly or indirectly, controls, is controlled by or is under common control with another Person, including, without limitation, any general 

  
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partner, managing member, officer or director of such Person or any venture capital or private equity fund now or hereafter existing that is controlled by one or more general partners or managing
members of, or shares the same management company with, such Person. For all purposes hereunder, Kaiser Permanente Ventures LLC – Series A, Kaiser Permanente Ventures LLC – Series Band The Permanente Federation LLC shall be deemed to be
Affiliates of each other. 
 (b) “Holdings Liquidation” means such time as Holdings distributes all of the equity securities of
the Company then held by Holdings to its members pursuant to Section 4.4(b) of the Holdings LLC Agreement. 
 (c) “Holdings LLC
Agreement” means Amended and Restated Limited Liability Company Agreement of Holdings, dated on or about the date hereof, as the same may be amended, restated, modified or supplemented from time to time in accordance with its terms. 

(d) “Person” means an individual, firm, corporation, partnership, association, limited liability company, trust or any other
entity. 
 (e) “Proposed Transfer” means any assignment, sale, offer to sell, pledge, mortgage, hypothecation, encumbrance,
disposition of or any other like transfer or encumbering of any Transfer Stock (or any interest therein) proposed by any Investor or Other Stockholder. 

(f) “Proposed Transfer Notice” means written notice from the applicable Investor setting forth the terms and conditions of a
Proposed Transfer. 
 (g) “Prospective Transferee” means any person to whom the applicable Investor proposes to make a Proposed
Transfer. 
 (h) “Required Series D Holders” means the holders of at least sixty seven percent (67%) of the outstanding
shares of Series D Preferred Stock, voting separately as a class. 
 (i) “Sale of the Company” means a transaction that
qualifies as a “Liquidation Event” as defined in the Restated Certificate. 
 (j) “Tag-Along Right” means the right,
but not the obligation, of a Party to participate in a Proposed Transfer to a Prospective Transferee on the terms and conditions specified in the Proposed Transfer Notice. 

(k) “Transfer Stock” means the Investor Shares and/or Other Shares held by an Investor or Other Stockholder, as applicable. 

[Signature Pages Follow] 

  
 10 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

  

					
	COMPANY:
		
		 	VALERITAS, INC.
			
		 	By:	 	/s/ Kristine Peterson
		 		 	  

		 	Name:	 	Kristine Peterson
		 	Title:	 	Chief Executive Officer
		
		 	Address: 750 Route 202 South, Suite 100 Bridgewater, NJ 08807

 
			
	INVESTORS:
	
	VALERITAS HOLDINGS, LLC
		
	By:	 	/s/ Kristine Peterson
		 	  

	Name:	 	Kristine Peterson
	Title:	 	President
	
	 Address: 750 Route 202 South, Suite 100

Bridgewater, NJ 08807

 
					
	INVESTORS:
		
		 	WELSH, CARSON, ANDERSON & STOWE XI, L.P.
			
		 	By:	 	 WCAS XI ASSOCIATES LLC,
 its
General Partner

			
		 	By:	 	/s/ Jonathan M. Rather
		 		 	  

		 	Name:	 	Jonathan M. Rather
		 	Title:	 	Managing Member
		
		 	WCAS MANAGEMENT CORPORATION
			
		 	By:	 	/s/ Jonathan M. Rather
		 		 	  

		 	Name:	 	Jonathan M. Rather
		 	Title:	 	Treasurer
		
		 	WCAS XI CO-INVESTORS LLC
			
		 	By:	 	/s/ Jonathan M. Rather
		 		 	  

		 	Name:	 	Jonathan M. Rather
		 	Title:	 	Managing Member

  

					
		 	Address:	 	c/o Welsh, Carson, Anderson & Stowe
		 		 	320 Park Avenue, Suite 2500
		 		 	New York, New York 10022
		 		 	Attn: Paul B. Queally

 
					
	INVESTORS:
		
		 	FULL SUCCEED INTERNATIONAL LIMITED
			
		 	By:	 	/s/ Yu Le
		 		 	  

		 		 	Yu Le, Director

  

					
		 	Address:	 	35/F, No. 1333 Lujiazui Ring Road
		 		 	Ping An Finance Tower
		 		 	Pu Dong, Shanghai, PRC

 
					
	    INVESTORS:	 	
		
		 	MPM BIOVENTURES IV-QP, L.P.
		
		 	 BY: MPM BIOVENTURES IV GP LLC,
 ITS
GENERAL PARTNER

		
		 	 BY: MPM BIOVENTURES IV LLC,
 ITS
MANAGING MEMBER

			
		 	By:	 	/s/ Todd Foley
		 		 	  

		 	Name:	 	Todd Foley
		 		 	  

		 	Title:	 	Member
		
		 	MPM BIOVENTURES IV GMBH & CO. BETEILIGUNGS KG
		
		 	 BY: MPM BIOVENTURES IV GP LLC,
 IN
ITS CAPACITY AS THE MANAGING LIMITED PARTNER

		
		 	 BY: MPM BIOVENTURES IV LLC,
 ITS
MANAGING MEMBER

			
		 	By:	 	/s/ Todd Foley
		 		 	  

		 	Name:	 	Todd Foley
		 		 	  

		 	Title:	 	Member
		
		 	MPM ASSET MANAGEMENT INVESTORS BV4 LLC
		
		 	 BY: MPM BIOVENTURES IV LLC,
 ITS
MANAGER

			
		 	By:	 	/s/ Todd Foley
		 		 	  

		 	Name:	 	Todd Foley
		 		 	  

		 	Title:	 	Member
		
	Address:	 	The John Hancock Tower
		 	200 Clarendon Street, 54th Floor
		 	Boston, MA 02116
		 	tfoley@mpmcapital.com
		 	vkailian@mpmcapital.com
		 	617.425.9200

 
					
	INVESTORS:
		
		 	ONSET VI, L.P.
		
		 	 BY: ONSET VI MANAGEMENT, LLC,

ITS GENERAL PARTNER

			
		 	By:	 	/s/ John Ryan
		 		 	  

		 	Name:	 	John Ryan
		 		 	  

		 	Title:	 	Managing Director
		
	Address:	 	2490 Sand Hill Rd.
		 	Menlo Park CA 94025
		 	bea@onset.com
		 	john@onset.com
		 	650.529.0700

 
					
	INVESTORS:
		
		 	PITANGO VENTURE CAPITAL FUND V, L.P.
		
		 	 BY: PITANGO V.C. FUND V, L.P.,
 ITS
GENERAL PARTNER

		
		 	 BY: PITANGO G.P. CAPITAL HOLDINGS LTD.,

ITS GENERAL PARTNER

			
		 	By:	 	

		 		 	  

		 	Name:	 	
		 	Title:	 	
		 		 	  

		
		 	PITANGO VENTURE CAPITAL PRINCIPALS FUND V, L.P.
		
		 	 BY: PITANGO V.C. FUND V, L.P.,
 ITS
GENERAL PARTNER

		
		 	 BY: PITANGO G.P. CAPITAL HOLDINGS LTD.,

ITS GENERAL PARTNER

			
		 	By:	 	

		 		 	  

		 	Name:	 	
		 	Title:	 	
		 		 	  

		
	Address:	 	11 HaMenofim Street, Building B
		 	Herzlia 46725 Israel
		 	daphna.c@pitango.com
		 	ittai.h@pitango.com
		 	zeev.b@pitango.com
		 	650.357.9080

									
		 	INVESTORS:
			
		 		 	AUDA CAPITAL IV CO-INVESTMENT GMBH & CO. KG
				
		 		 	By:	 	 Auda Capital IV Co-Investment Fund GP L.P.

its Managing Limited Partner

		 		 	By:	 	 Auda Capital IV Co-Investment Fund LLC

its General Partner

		 		 	By:	 	 Auda Private Equity LLC
 its
Managing Member

					
		 		 		 	By:	 	/s/ Stephen B. Wesson
		 		 		 		 	  

		 		 		 	Name:	 	 Stephen B. Wesson / Tim Avery

		 		 		 	Title:	 	 Managing Director / CFO CCO

			
		 		 	AUDA CAPITAL IV CO-INVESTMENT FUND L.P.
				
		 		 	By:	 	 Auda Capital IV Co-Investment Fund GP L.P.

its Managing Limited Partner

		 		 	By:	 	 Auda Capital IV Co-Investment Fund LLC

its General Partner

		 		 	By:	 	 Auda Private Equity LLC
 its
Managing Member

					
		 		 		 	By:	 	/s/ Stephen B. Wesson
		 		 		 		 	  

		 		 		 	Name:	 	 Stephen B. Wesson / Tim Avery

		 		 		 	Title:	 	 Managing Director / CFO CCO

			
		 		 	 AUDA VALERITAS SEGREGATED PORTFOLIO

a segregated portfolio of Auda Capital IV Co-Investment Fund SPC

				
		 		 	By:	 	/s/ Stephen B. Wesson
		 		 		 	  

		 		 	Name:	 	 Stephen B. Wesson / Tim Avery

		 		 	Title:	 	 Managing Director / CFO CCO

			
		 	Address:	 	c/o Auda International L.P.
		 		 	888 Seventh Avenue, 41st Floor
		 		 	New York, NY 10151
		 		 	Tel.: (212) 593-2306
		 		 	Fax: (212) 593-2974
		 		 	Email: andryc@auda.com

 
					
	INVESTORS:
		
		 	ABINGWORTH BIOVENTURES V LP
		
		 	BY: ABINGWORTH LLP, ITS MANAGER
			
		 	By:	 	/s/ JAMES ABELL
		 		 	  

		 	Name:	 	JAMES ABELL
		 	Title:	 	 PARTNER

		
	Address:	 	Abingworth LLP
		 	38 Jermyn Street
		 	London SW1Y 6DN
		 	United Kingdom
		 	Attn: General Counsel
		 	Fax: +44 (0) 207 534 1539

 
					
	INVESTORS:
		
		 	ADVANCED TECHNOLOGY VENTURES VIII, L.P.
		
		 	BY: ATV ASSOCIATES VIII, L.L.C.
		 	ITS GENERAL PARTNER
			
		 	By:	 	/s/ Jean George
		 		 	  

		 	Name:	 	Jean George
		 	Title:	 	 Managing Director

		
	Address:	 	500 Boylston St, Suite 1380
		 	Boston MA 02116
		 	abruce@atvcapital.com
		 	dcunnane@atvcapital.com
		 	617-850-9700

 
					
	INVESTORS:
		
		 	HLM VENTURE PARTNERS II, L.P.
		
		 	BY: HLM VENTURE ASSOCIATES, LLC
		 	ITS GENERAL PARTNER
			
		 	By:	 	/s/ Daniel J. Galles
		 		 	  

		 	Name:	 	Daniel J. Galles
		 	Title:	 	Authorized Signator
		
	Address:	 	HLM Venture Partners
		 	222 Berkeley Street
		 	Boston, MA 02116
		 	vfabiani@hlmvp.com
		 	617-266-0030
		
		 	With a copy to:
		 	Dan Galles
		 	HLM Venture Partners
		 	201 Mission Street
		 	Suite 2240
		 	San Francisco, CA 94105

							
		 	INVESTORS:
			
		 		 	THE PERMANENTE FEDERATION LLC - SERIES J
				
		 		 	By:	 	/s/ GLEN HENTGES
		 		 		 	  

		 		 	Name:	 	 GLEN HENTGES

		 		 	Title:	 	 CFO

			
		 		 	KAISER PERMANENTE VENTURES, LLC - SERIES A
				
		 		 	By:	 	/s/ THOMAS MEIER
		 		 		 	  

		 		 	Name:	 	 THOMAS MEIER

		 		 	Title:	 	 SVP & TREASURER

			
		 		 	KAISER PERMANENTE VENTURES, LLC - SERIES B
				
		 		 	By:	 	/s/ THOMAS MEIER
		 		 		 	  

		 		 	Name:	 	 THOMAS MEIER

		 		 	Title:	 	 SVP & TREASURER

 

							
		 		 	Address:	 	One Kaiser Plaza, 22nd Floor
		 		 		 	Oakland, CA 94612
		 		 		 	Attn: Chris M. Grant
		 		 		 	510-271-5687

 
					
	INVESTORS:
		
		 	CHL MEDICAL PARTNERS III, L.P.
		
		 	BY: CHL MEDICAL PARTNERS III, LLC,
		 	ITS GENERAL PARTNER
			
		 	By:	 	/s/ GREGORY WEINHOFF
		 		 	  

		 	Name:	 	 GREGORY WEINHOFF

		 	Title:	 	 VICE PRESIDENT

		
		 	CHL MEDICAL PARTNERS III SIDE FUND, L.P.
		
		 	BY: CHL MEDICAL PARTNERS III, LLC,
		 	ITS GENERAL PARTNER
			
		 	By:	 	/s/ GREGORY WEINHOFF
		 		 	  

		 	Name:	 	 GREGORY WEINHOFF

		 	Title:	 	 VICE PRESIDENT

 
					
			
		 	Address:	 	1055 Washington Boulevard
		 		 	6th Floor
		 		 	Stamford, CT 06901
		 		 	apermenis@chlmedical.com
		 		 	gweinhoff@chlmedical.com
		 		 	203.324.7700

 
							
	INVESTORS:
		
		 	TULLIS OPPORTUNITY FUND, L.P.
			
		 	By:	 	Tullis Opportunity Fund, L.L.C.,
		 		 	Its general partner
				
		 		 	By:	 	/s/ James L. L. Tullis
		 		 		 	  

		 		 	Name:	 	James L. L. Tullis
		 		 	Title:	 	Manager
		
		 	TULLIS OPPORTUNITY FUND II, L.P.
			
		 	By:	 	Tullis Opportunity Fund II, L.L.C.,
		 		 	Its general partner
				
		 		 	By:	 	/s/ James L. L. Tullis
		 		 		 	  

		 		 	Name:	 	James L. L. Tullis
		 		 	Title:	 	Manager

  

					
		 	Address:	 	c/o Tullis-Dickerson & Co., Inc.
		 		 	55 Old Field Point Rd.
		 		 	Greenwich, CT 06830
		 		 	Attn: James L. L. Tullis
		 		 	Fax: (203) 629-9293
		 		 	Email: jtullis@tullisfunds.com

  

					
		 	PED-VLRTS, LLC
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 

					
		 	Address:	 	  

		 	  

		 	  

 
							
	INVESTORS:
		
		 	TULLIS OPPORTUNITY FUND, L.P.
			
		 	By:	 	Tullis Opportunity Fund L.L.C.,
		 		 	Its general partner
				
		 		 	By:	 	  

		 		 	Name:	 	James L. L. Tullis
		 		 	Title:	 	Manager
		
		 	TULLIS OPPORTUNITY FUND II, L.P.
			
		 	By:	 	Tullis Opportunity Fund II, L.L.C.,
		 		 	Its general partner
				
		 		 	By:	 	  

		 		 	Name:	 	James L. L. Tullis
		 		 	Title:	 	Manager

  

							
		 	Address:	 	c/o Tullis-Dickerson & Co., Inc.
		 		 		 	One Stamford Plaza
		 		 		 	263 Tresser Boulevard, 12th Floor
		 		 		 	Stamford, CT 06901
		 		 		 	Attn: James L. L. Tullis
		 		 		 	Fax: (203) 629-9293
		 		 		 	Email: jtullis@thi-funds.com

  

							
		 	PED-VLRTS, LLC
			
		 	By:	 	/s/ E. GRAY LEE
		 		 	  

		 	Name:	 	 E. GRAY LEE

		 	Title:	 	 SVP

 

							
		 	Address:	 	 4525 Harding Rd.

		 		 	 Suite 200

		 		 	 Nashville, TN 37205

  

 
					
	INVESTORS:
		
		 	/s/ ELIZABETH GORDON
		 	  

		 	ELIZABETH GORDON

  

					
		 	Address:	 	
		 		 	
			
		 		 	With a copy to:
		 		 	
		 		 	
		 		 	

 
			
	INVESTORS:
	
	/s/ Evan Norton
	  

	Evan Norton
		
	Address:	 	  

		 	  

		 	  

 
			
	INVESTORS:
	
	SAINT JOHN’S UNIVERSITY
		
	By:	 	/s/ Richard Adamson
		 	  

	Name:	 	Richard Adamson
	Title:	 	Vice President & Treasurer

  

			
	Address:	 	2850 Abbey Plaza
		 	PO Box 2222
		 	Collegeville, MN 56321
		 	Attention: Jennifer M. Meyer
		 	JMMEYER@CSBSJU.EDU
		 	320-363-2131

 EXHIBIT A 

ADOPTION AGREEMENT 

This Adoption Agreement (“Adoption Agreement”) is executed by the undersigned (“Transferee”) pursuant to the terms of that
certain Voting Agreement dated as of June 23, 2014 (as the same may be amended, modified, restated or supplemented from time to time in accordance with its terms, the “Agreement”) by and among the Company and certain of its
stockholders. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, the Transferee hereby agrees as follows: 

(a) Acknowledgment. Transferee acknowledges that Transferee is acquiring certain shares of the capital stock of the Company (the
“Stock”), subject to the terms and conditions of the Agreement. 
 (b) Agreement. Transferee (i) agrees that the Stock
acquired by Transferee shall be bound by and subject to the terms of the Agreement, (ii) shall be deemed an [Investor][Other Stockholder] for all purposes under the Agreement and (iii) hereby adopts the Agreement with the same force and
effect as if Transferee were originally a Party thereto. 
 (c) Notice. Any notice required or permitted by the Agreement shall be given to
Transferee at the address listed beside Transferee’s signature below. 
 EXECUTED AND DATED this      day of
            , 201    . 
  

			
	TRANSFEREE:
		
	By:	 	  

		 	Name and Title

  

			
	Address:	 	  

	Fax:	 	  

 Accepted and Agreed: 
  

			
	VALERITAS, INC.
		
	By:	 	  

		
	Title:	 	  

  
 E-1EX-10.17

 Exhibit 10.17 

AGREEMENT AND PLAN OF MERGER AND REORGANIZATION 

This AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this “Agreement”) is entered into as of June 9, 2014, by and among
Valeritas, Inc., a Delaware corporation (“OpCo”), Valeritas Holdings, LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of OpCo (“Holdings”), and Valeritas Merger Sub, Inc., a Delaware
corporation and a direct, wholly-owned subsidiary of Holdings (“Merger Sub”). 
 RECITALS 

WHEREAS, as of the date hereof, OpCo’s authorized capital stock consists of (i) 462,000,000 shares of Common Stock, $0.00001 par
value per share (“OpCo Common Stock”), of which 953,502 are issued and outstanding; and (ii) 405,390,990 shares of Preferred Stock, $0.00001 par value per share (“OpCo Preferred Stock” and together with OpCo
Common Stock, “OpCo Stock”), of which (a) 9,550,002 shares are designated Series A Preferred Stock (“OpCo Series A Preferred Stock”), all of which are issued and outstanding; (b) 85,386,945 shares are
designated Series B Preferred Stock (“OpCo Series B Preferred Stock”), 68,483,119 shares of which are issued and outstanding; (c) 154,854,367 shares are designated Series C Preferred Stock (“OpCo Series C Preferred
Stock”), 105,267,393 shares of which are issued and outstanding; (d) 77,997,380 shares of which are designated Series C-1 Preferred Stock, none of which are issued and outstanding; and (e) 77,602,296 shares of which are designated
Series C-2 Preferred Stock (“OpCo Series C-2 Preferred Stock”), 121,951 shares of which are issued and outstanding; 

WHEREAS, as of the date hereof, Merger Sub’s authorized capital stock consists of 9,000,000 shares of common stock, $0.00001 par value
per share (“Merger Sub Common Stock”), all of which are issued and outstanding and owned by Holdings; 
 WHEREAS, as of the
date hereof, all of the limited liability company interests in Holdings are held by OpCo and OpCo is the sole member of Holdings, and at the Effective Time (as defined below) Holdings’ authorized limited liability company interests will be
denominated as and consist of units, in two classes, with (i) the first class consisting of 201,326,291 units designated Common Units (“Holdings Common Units”); and (ii) the second class consisting of 200,326,291 units
designated Preferred Units (the “Holdings Preferred Units” and together with the Holdings Common Units, the “Holdings Units”), of which (a) 9,550,002 will constitute a series of Holdings Preferred Units
designated Series A Preferred Units (“Holdings Series A Preferred Units”); (b) 85,386,945 will constitute a series ofHoldings Preferred Units designated Series B Preferred Units (“Holdings Series B Preferred
Units”); and (c) 105,389,344 will constitute a series of Holdings Preferred Units designated Series C Preferred Units (“Holdings Series C Preferred Units”); 

WHEREAS, at the Effective Time, except as otherwise set forth in the Amended and Restated Limited Liability Company Agreement of Holdings, the
form of which is attached hereto as Exhibit A (the “Holdings Operating Agreement”), the designations, rights, powers, preferences, qualifications, limitations and restrictions of the Holdings Units with respect to Holdings
will be the same in all material respects as those of the OpCo Stock with respect to OpCo; 

 WHEREAS, the parties hereto desire to create a new holding company structure by merging Merger
Sub with and into OpCo, with (i) OpCo continuing as the surviving corporation of such merger (the “Merger”), and (ii) each outstanding share of OpCo Stock being converted in such Merger into the right to receive a like
number and like class (or series, as the case may be) of units oflimited liability company interest in Holdings, upon the terms and subject to the conditions set forth in this Agreement; 

WHEREAS, it is a condition precedent to additional investment in OpCo established by the current lead investor in OpCo that the Merger take
place prior to such additional investment; and 
 WHEREAS, the board of directors of each of OpCo and Merger Sub has approved and declared
advisable this Agreement and the transactions contemplated hereby, including the Merger, and determined that this Agreement and the transactions contemplated hereby, including the Merger, are just and equitable and fair as to the OpCo or MergerSub,
as applicable, and their respective stockholders, taken as a whole, and that it is advisable and in the best interests of OpCo or MergerSub, as applicable, and their respective stockholders, taken as a whole, to approve this Agreement and to
consummate the transactions contemplated hereby, including the Merger. 
 NOW, THEREFORE, in consideration of the foregoing, the mutual
covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, each intending to be legally bound, hereby agree as follows: 

1. MERGER AND REORGANIZATION 

1.1 Merger of Merger Sub into Opco. Upon the terms and subject to the conditions set forth in this Agreement, at the Effective Time (as
defined below), (i) Merger Sub shall be merged with and into OpCo, the separate existence of Merger Sub shall cease and OpCo will be the surviving corporation of the Merger (the “Surviving Corporation”), (ii) the
certificate of incorporation and bylaws of OpCo in effect as of the Effective Time shall be the certificate of incorporation and bylaws of the Surviving Corporation immediately following the Effective Time until thereafter amended as provided by
law, (iii) the directors of OpCo immediately prior to the Effective Time shall be the directors of the Surviving Corporation and the officers of OpCo immediately prior to the Effective Time shall be the officers of the Surviving Corporation, in
each case, immediately following the Effective Time and until their respective successors are duly elected or appointed and qualified or until their earlier resignation or removal in accordance with the Surviving Corporation’s certificate of
incorporation and bylaws; (iv) each share of OpCo Stock outstanding immediately prior to the Effective Time will be converted as set forth in Section 1.2; (v) each OpCo Option (as defined below) will be assumed by Holdings in accordance
with Section 1.4.1; and (vi) each OpCo Warrant (as defined below) shall be assumed by Holdings in accordance with Section 1.4.2; (vii) all of the limited liability company interests in Holdings held by OpCo immediately prior to
the Effective Time shall be canceled and extinguished without any conversion or exchange thereof subject to and in accordance with Section 1.2 below; (viii) each share of Merger Sub Common Stock outstanding immediately prior to the
Effective Time will be converted as set forth in Section 1.2 below; and 

  
 2 

 
(ix) the Merger will, from and after the Effective Time, have all of the effects provided by this Agreement and applicable law. 

1.2 Conversion of Shares. At the Effective Time, by virtue of the Merger and without any action on the part of the parties
hereto, the holders of any of the following securities or any other person or entity will have their securities converted as follows: 

1.2.1 Conversion of Common Stock. Each share of OpCo Common Stock issued and outstanding immediately prior to the Effective
Time, other than any Dissenting Shares (as defined below), will be converted into the right to receive one (1) Holdings Common Unit. 

1.2.2 Conversion of Series A Preferred Stock. Each share of OpCo Series A Preferred Stock issued and outstanding immediately
prior to the Effective Time, other than any Dissenting Shares, will be converted into the right to receive one (1) Holdings Series A Preferred Unit. 

1.2.3 Conversion of Series B Preferred Stock. Each share of OpCo Series B Preferred Stock issued and outstanding immediately
prior to the Effective Time, other than any Dissenting Shares, will be converted into the right to receive one (1) Holdings Series B Preferred Unit. 

1.2.4 Conversion of Series C Preferred Stock. Each share of OpCo Series C Preferred Stock issued and outstanding immediately
prior to the Effective Time, other than any Dissenting Shares, will be converted into the right to receive one (1) Holdings Series C Preferred Unit. 

1.2.5 Conversion of Series C-2 Preferred Stock. Each share of OpCo Series C-2 Preferred Stock issued and outstanding
immediately prior to the Effective Time, other than any Dissenting Shares, will be converted into the right to receive one (1) Holdings Series C Preferred Unit. 

1.2.6 Merger Sub Common Stock. Each share of Merger Sub Common Stock issued and outstanding immediately prior to the Effective
Time shall be converted into one (1) share of common stock, par value $0.00001 per share, of the Surviving Corporation (“Surviving Corporation Common Stock”), and as such shall continue to be owned by Holdings and thereafter represent
all of the then validly issued, fully paid, and nonassessable shares of Surviving Corporation Common Stock. As a result, Holdings shall hold 9,000,000 shares of Surviving Corporation Common Stock immediately following the Effective Time. 

1.2.7 Cancellation of Holdings Units. The limited liability company interests in Holdings outstanding immediately prior to the
Effective Time shall automatically, and without any action on the part of Holdings or any other person or entity, be canceled and extinguished and shall cease to exist without any conversion or exchange thereof and without any consideration being
payable in respect thereof, provided, however, that OpCo shall continue and remain as a member of Holdings (having no Holdings Units or other limited liability company interest in Holdings) until such time (at or after the Effective Time) as any
current 

  
 3 

 
holder of OpCo Stock is admitted to Holdings as a member of Holdings, whereupon simultaneously with such admission OpCo shall cease to be a member of Holdings. 

1.3 Dissenting Shares. Notwithstanding anything to the contrary contained in this Agreement, shares of OpCo Stock that are outstanding
immediately prior to the Effective Time and held of record by a holder who has neither voted in favor of the Merger nor consented thereto in writing and who shall have made a proper demand in writing for appraisal of such shares of OpCo Stock
(“Dissenting Shares”) in accordance with Section 262 of the Delaware General Corporation Law (the “DGCL”) shall not be converted into or represent the right to receive the Holdings Units in accordance with
Section 1.2, but shall be entitled only to such rights as are granted by the DGCL to a holder of Dissenting Shares. At the Effective Time, all Dissenting Shares shall no longer be outstanding and shall automatically be canceled and shall cease
to exist, and each holder of Dissenting Shares shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with Section 262 of the DGCL. Notwithstanding the foregoing,
if any Dissenting Shares shall lose their status as such (through failure to perfect, effectively withdrawing or otherwise losing their rights to appraisal of such shares of OpCo Stock), then, as of the later of the Effective Time or the date of
loss of such status, such shares shall be deemed, as of the Effective Time, to have automatically been converted into and shall represent only the right to receive the applicable consideration, without interest thereon, promptly following the
surrender of the certificate or certificates representing such shares of OpCo stock in accordance with Section 2.2. 
 1.4
Treatment of Opco Warrants and Stock Options. 
 1.4.1 Options. All outstanding stock options, whether vested or
not, to purchase OpCo Common Stock, granted under the Valeritas, Inc. 2008 Amended and Restated Equity Compensation Plan (as amended, the “OpCo Option Plan”) that are not exercised or cancelled prior to the Effective Time
(“OpCo Options”), will be assumed by Holdings. Each OpCo Option so assumed by Holdings under this Agreement will continue to have, and be subject to, the same terms and conditions set forth in the applicable OpCo Option immediately
prior to the Effective Time (including, without limitation, any vesting provisions), except that: 
 (a) each OpCo Option to
purchase one (1) share of OpCo Common Stock will be converted automatically into an option to purchase one (1) Holdings Common Unit; 

(b) the per unit exercise price for the Holdings Common Units issuable upon exercise of each assumed OpCo Option will be equal
to the exercise price per share of OpCo Common Stock at which such OpCo Option was exercisable immediately prior to the Effective Time; and 

(c) the OpCo Option Plan shall terminate automatically as of the Effective Time, and no new grants may be made under the OpCo
Option Plan. However, the terms of the OpCo Option Plan (as adjusted to reflect the conversion in Section 1.4.1(a)) will continue govern the terms of the assumed OpCo Options. Should any of the assumed OpCo option awards expire or terminate
unexercised, the Holdings Common Units subject to those 

  
 4 

 
awards at the time of expiration or termination shall not be available for subsequent award and issuance and shall be cancelled. 

1.4.2 Warrants. 

(a) At the Effective Time, each warrant to purchase shares of OpCo Common Stock (each a “Common OpCo Warrant”) that
is outstanding and unexercised immediately prior to the Effective Time will be cancelled without further action by the parties hereto or the holder thereof, and shall be of no further force or effect. 

(b) At the Effective Time, each outstanding warrant to purchase shares of OpCo Series B Preferred Stock (each a “Series
B OpCo Warrant”, and together with the Common OpCo Warrants, the “OpCo Warrants”), whether or not exercisable, will be assumed by Holdings. Each Series B OpCo Warrant so assumed by Holdings under this Agreement will
continue to have, and be subject to, the same terms and conditions set forth in the applicable Series B OpCo Warrant immediately prior to the Effective Time (including, without limitation, any vesting provisions), except that (i) each Series B
OpCo Warrant will be exercisable (or will become exercisable in accordance with its terms) for that number of Holdings Series B Preferred Units equal to the number of shares of OpCo Series B Preferred Stock that were issuable upon exercise of such
Series B OpCo Warrant immediately prior to the Effective Time and (ii) the per unit exercise price for the Holdings Series B Preferred Units issuable upon exercise of such assumed Series B OpCo Warrant will be equal to the exercise price per
share of OpCo Series B Preferred Stock at which such Series B OpCo Warrant was exercisable immediately prior to the Effective Time. 
 1.5
Tax Free Transfer. The parties intend to adopt this Agreement as a tax- free transfer in accordance with the provisions of Section 721 of the Internal Revenue Code of 1986, as amended (“Code”). The parties believe
that the value of the Holdings Common Units and Holdings Preferred Units to be received in the Merger is equal, in each instance, to the value of the OpCo Common Stock and OpCo Preferred Stock to be surrendered in exchange therefor. The Holdings
Common Units and Holdings Preferred Units issued in the Merger will be issued solely in exchange for the OpCo Common Stock and OpCo Preferred Stock, and no other transaction other than the Merger represents, provides for or is intended to be an
adjustment to, the consideration paid for the OpCo Common Stock and OpCo Preferred Stock. Except for Dissenting Shares, no consideration that would not constitute “partnership interest” within the meaning of Section 721 of the Code
will be received in exchange for the OpCo Common Stock and OpCo Preferred Stock in the Merger. The parties shall not take a position on any tax returns inconsistent with this Section 1.5. 

2. CLOSINGMATTERS 
 2.1
The Closing. Subject to termination of this Agreement as provided in Section 5 below, the Closing shall take place remotely via the exchange of documents and signatures, on a date to be mutually agreed upon by the parties, which
shall be no later than the second (2nd) business day after the satisfaction or waiver of the conditions set forth in Section 4. The date on which the Closing actually takes place is referred to in this Agreement as the “Closing
Date.” Subject to the provisions of this Agreement, as soon as practicable on the 

  
 5 

 
Closing Date, the parties shall cause the Certificate of Merger, in the form attached hereto as Exhibit B, to be executed and filed with the Delaware Secretary of State in accordance with the
requirements of the DGCL. The Merger shall become effective at the time of the filing of the Certificate of Merger with the Secretary of State of the State of Delaware, or at such later time as may be specified in the Certificate of Merger (the
“Effective Time”). 
 2.2 Certificates. 

2.2.1 As ofthe Effective Time, all shares ofOpCo Common Stock and OpCo Preferred Stock that are outstanding immediately prior thereto
will, by virtue of the Merger and without further action, cease to exist and will be converted into the right to receive the number of Holdings Common Units or Holdings Preferred Units determined as set forth in Section 1.3. Upon its acceptance
of the Holdings Common Units or Holdings Preferred Units to which it is entitled in connection with the Merger, each holder of record of OpCo Stock (other than any stockholder holding Dissenting Shares) shall be bound by the Holdings Operating
Agreement. 
 2.2.2 As promptly as practicable following the Effective Time, OpCo shall mail to each holder ofrecord ofOpCo Stock a
letter oftransmittal and joinder agreement to the Holdings Operating Agreement and instructions and other documents in the form attached hereto as Exhibit C (the “Transmittal Documentation”) for use in effecting the surrender of the
certificate(s) for such shares of OpCo Stock (the “OpCo Certificates”), or if such OpCo Certificate(s) are alleged to have been lost, stolen or destroyed, in lieu thereof, an affidavit of loss agreement to provide indemnification in
respect of any claim that may be made against Holdings with respect to the OpCo Certificate(s) alleged to have been lost, stolen or destroyed. 

2.2.3 Until Transmittal Documentation duly completed and signed by the applicable holder of OpCo Stock and OpCo Certificates
representing OpCo Common Stock or OpCo Preferred Stock outstanding prior to the Merger are surrendered pursuant to Section 2.2.2 above, (i) such certificates will be deemed, for all purposes, to evidence ownership of the number of Holdings
Common Units or Holdings Preferred Units which the OpCo Common Stock or OpCo Preferred Stock, respectively, is entitled to receive and (ii) the holder of such certificates shall be bound by the terms of the Holdings Operating Agreement but
shall not be admitted as a member of Holdings, with the rights and privileges attributable to such membership, except that such holder shall be entitled to share in such profits and losses, to receive such distributions and to receive such
allocation of income, gain, loss, deduction, or credit or similar item to the extent attributable to such holder’s Holdings Units. Immediately upon the completion and delivery by a holder of OpCo Common Stock or OpCo Preferred Stock of the
Transmittal Documentation and the surrender of the applicable OpCo Certificate(s), such holder shall be admitted as a member of Holdings. be uncertificated. 

2.2.4 The Holdings Common Units and Holdings Preferred Units shall 

2.3 Holdings Operating Agreement. At the Effective Time, the Holdings Operating Agreement shall be automatically adopted and
become effective as the limited liability company agreement of Holdings, without the need for the execution thereof by any of the 

  
 6 

 
stockholders of OpCo Stock outstanding immediately prior to the Merger who shall be entitled to receive Holdings Units and who may be admitted as members of Holdings as described in
Section 2.2.3 (collectively, the “New Members”). In accordance with the Transmittal Documentation, each of the New Members shall duly appoint an officer of Holdings as its attorney-in-fact and agent for purposes of executing
and delivering the Holdings Operating Agreement on behalf of such New Member. Notwithstanding any other provision to the contrary in the Holdings Operating Agreement, any officer of Holdings, acting alone, is hereby authorized to execute and deliver
the Holdings Operating Agreement on behalf of Holdings, and to execute and deliver any other documents, agreements, instruments, and certificates in furtherance hereof. 

3. INFORMATION STATEMENT. OpCo shall deliver to the holders of OpCo Stock an information statement accurately describing this
Agreement, the Merger and the provisions of Section 262 of the DGCL (the “Information Statement”). Such Information Statement shall solicit the approval by means of written consent of the OpCo stockholders of the adoption of
this Agreement and the transactions contemplated hereby, including the Merger. If the adoption of this Agreement is approved by the Requisite Stockholder Approval, OpCo shall notify each holder of OpCo Stock who is entitled to appraisal rights of
the approval of the Merger and the availability of such appraisal rights and shall include in such notice a copy of Section 262 of the DGCL, as required by Section 262(d)(2) of the DGCL. In such notice, the Company will also provide the
notice required by Section 228(e) of the DGCL. 
 4. CONDITIONS TO CLOSING. 

4.1 Each party’s obligations to effect the Merger and otherwise consummate the transactions are subject to the satisfaction or
waiver, at or prior to the Closing, of each of the following conditions: 
 4.1.1 No Injunctions or Restraints. No temporary
restraining order, preliminary or permanent injunction or other material legal restraint or prohibition issued or promulgated by a governmental authority preventing the consummation of the transactions shall be in effect, and there shall not be any
law, regulation or order enacted or deemed applicable to the transactions that makes consummation of the transactions illegal. 
 4.1.2
Covenants. Each of OpCo, Merger Sub and Holdings shall have performed or complied in all material respects all covenants and other obligations required to be performed by or complied with under this Agreement on or prior to the Closing Date
(with materiality being measured individually and on an aggregate basis with respect to all breaches of covenants and obligations). 

4.1.3 Stockholder Approval. OpCo shall have obtained executed written consents from those holders of OpCo Stock evidencing the
affirmative vote of the following series and classes of OpCo Stock: (i) the holders of a majority of the outstanding shares of OpCo Series C Preferred Stock and OpCo Series C-2 Preferred Stock, voting together as a single class on an
as-converted to OpCo Common Stock basis; (ii) the holders of a majority of the outstanding shares of OpCo Series B Preferred Stock, voting together as a separate class on an as-converted to OpCo Common Stock basis; and (iii) the holders of
a majority of the aggregate voting power of the outstanding shares of OpCo Series C Preferred Stock, OpCo 

  
 7 

 
Series C-2 Preferred Stock, OpCo Series B Preferred Stock and OpCo Common Stock, voting together as a single class on an as-converted to OpCo Common Stock basis (collectively, the
“Requisite Stockholder Approval”). 
 4.1.4 2014 Equity Compensation Plan. The Board of Directors of OpCo shall have
approved a new equity compensation plan for new grants and other stock awards to be issued following the Effective Time. 
 4.1.5 Lender
Consent. Capital Royalty Partners II L.P. and certain of its affiliates party to the Term Loan Agreement, dated May 24, 2013, with OpCo shall have consented to the transactions contemplated under this Agreement. 

5. TERMINATION OF AGREEMENT 

5.1 Termination. This Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time prior to the
Effective Time, whether before or after the adoption of this Agreement by the Requisite Stockholder Approval or by the sole stockholder of Merger Sub, to the fullest extent permitted by applicable law, by action of the Board ofDirectors ofOpCo. 

5.2 No Liabilitv. Any termination of this Agreement pursuant to this Section 5 will be without further obligation or liability
upon any party in favor of the other party hereto. 
 6. MISCELLANEOUS 

6.1 Governing Law. The internal laws of the State of Delaware (irrespective of its choice of law principles) will govern the
validity of this Agreement, the construction of its terms, and the interpretation and enforcement of the rights and duties of the parties hereto. 

6.2 Assignment; Binding Upon Successors and Assigns. Neither party hereto may assign any of its rights or obligations hereunder
without the prior written consent of the other party hereto. This Agreement will be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 

6.3 Severability. If any provision of this Agreement, or the application thereof, will for any reason and to any extent
be invalid or unenforceable, the remainder of this Agreement and application of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to use their
commercially reasonable efforts to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of the void or
unenforceable provision. 
 6.4 Counterparts. This Agreement may be executed in any number of counterparts, each of which will
be an original as regards any party whose signature appears thereon and all of which together will constitute one and the same instrument. This Agreement will become binding when one or more counterparts hereof, individually or taken together, will
bear the signatures of both parties reflected hereon as signatories. 

  
 8 

 6.5 Other Remedies. Except as otherwise provided herein, any and all remedies
herein expressly conferred upon a party will be deemed cumulative with and not exclusive of any other remedy conferred hereby or by law on such party, and the exercise of any one remedy will not preclude the exercise of any other. 

6.6 Amendment and Waivers. Any term or provision of this Agreement may be amended at any time prior to the Effective Time,
whether before or after the adoption of this Agreement by the Requisite Stockholder Approval or by the sole stockholder of Merger Sub, by an agreement in writing signed by or on behalf of each of the parties hereto, with the authorization of the
board of directors of each of OpCo and Merger Sub, provided, however, that after this Agreement is adopted by the Requisite Stockholder Approval or by the sole stockholder of Merger Sub, no amendment shall be made to this Agreement that by
law requires further approval or authorization by the stockholders of OpCo or Merger Sub without such further approval or authorization. The observance of any term of this Agreement may be waived (either generally or in a particular instance and
either retroactively or prospectively) only by a writing signed by the party to be bound thereby. The waiver by a party of any breach hereof or default in the performance hereof will not be deemed to constitute a waiver of any other default or any
succeeding breach or default. 
 6.7 No Waiver. The failure of any party to enforce any of the provisions hereof will not be
construed to be a waiver of the right of such party thereafter to enforce such provisions. 
 6.8 Further Assurances. Each
party agrees to cooperate fully with the other parties and to execute such further instruments, documents and agreements and to give such further written assurances as may be reasonably requested by any other party to evidence and reflect the
transactions described herein and contemplated hereby and to carry into effect the intents and purposes of this Agreement. 
 6.9
Notices. Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on
the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by
subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iii) one (1) business day after deposit with an express
overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (iv) three (3) business days after deposit
in the United States mail by certified mail (return receipt requested) for United States deliveries. 
 All notices for delivery outside the
United States will be sent by facsimile or by express courier. Notices by facsimile shall be machine verified as received. All notices not delivered personally or by facsimile will be sent with postage and/or other charges prepaid and properly
addressed to the party to be notified at the address or facsimile number as follows, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto as
follows: 

  
 9 

 If to any party hereto: 

Valeritas, Inc. 
 750 Route 202
South, Suite 600 
 Bridgewater, NJ 08807 

Attention: Chief Executive Officer 

Telephone No.: 
 Facsimile No.:

 with a copy (which shall not constitute notice) to: 

Morgan, Lewis & Bockius LLP 

502 Carnegie Center 
 Princeton,
New Jersey 08540 
 Attention: Steven M. Cohen 

Telephone No.: 
 Facsimile No.:

 Ropes & Gray LLP 

1211 Avenue of the Americas 

New York, NY 10036-8704 

Attention: Anthony J. Norris 

Telephone No: 
 Facsimile No.:

 Wilmer Cutler Pickering Hale and Dorr LLP 

850 Winter Street 
 Waltham, MA
02451 
 Attention: Michael Bain 

Telephone No: 
 Facsimile No.:

 6.10 Entire Agreement. This Agreement and the exhibits hereto constitute the entire understanding and agreement of the
parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or oral, between the parties with respect hereto. The express
terms hereof control and supersede any course of performance or usage of the trade inconsistent with any of the terms hereof. 

6.11 Facsimile Signatures. This Agreement may be executed and delivered by facsimile and upon such delivery the
facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK) 

  
 10 

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

									
	VALERITAS, INC.	 		 	VALERITAS HOLDINGS, LLC
					
	By:	 	/s/ William Duke	 		 	By:	 	 
	 Name:
 Title:
	 	 William Duke
 Chief Financial Officer
	 		 	 Name:
 Title:
	 	 Kristine Peterson
 President

  
  

			
	VALERITAS MERGER SUB, INC.
		
	By:	 	 
	 Name:
 Title:
	 	 Kristine Peterson
 President

  
 11 

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

									
	VALERITAS, INC.	 		 	VALERITAS HOLDINGS, LLC
					
	By:	 	 	 		 	By:	 	/s/Kristine Peterson
	 Name:
 Title:
	 	 William Duke
 Chief Financial Officer
	 		 	 Name:
 Title:
	 	 Kristine Peterson
 President

  
  

			
	VALERITAS MERGER SUB, INC.
		
	By:	 	/s/ Kristine Peterson
	 Name:
 Title:
	 	 Kristine Peterson
 President

  

  
 12

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