Document:

EX-10.16

					
		 	 Confidential Materials omitted and filed separately with the

Securities and Exchange Commission. Double asterisks denote omissions.
	 	Exhibit 10.16

 DEVELOPMENT CONSULTANCY AGREEMENT 

between 
 GENABLE
TECHNOLOGIES LIMITED 
 and 

SPARK THERAPEUTICS, LLC 

 This Development Consultancy Agreement (the “Agreement”) is entered into this 18th day of March, 2014 (the “Effective Date”), by and between Genable Technologies Limited, organized and existing under the laws of Ireland, and having a principal place of
business at Media House, South County Business Park, Leopardstown, Dublin 18, Ireland (“Genable”) and Spark Therapeutics, LLC, organized and existing under the laws of Delaware, USA, and having a principal place of business
at 34th Street and Civic Center Boulevard, 5th Floor, Philadelphia, PA 19104, USA (“Spark”). 

Genable and Spark may collectively be referred to as the “Parties” and each a “Party”. 

Spark and Genable agree as follows: 
  

	1.	BACKGROUND 

  

	 	1.1	Pursuant to agreements dated October 14, 2013, Spark has acquired or licensed from The Children’s Hospital of Philadelphia (“CHOP”) certain patent rights and confidential and trade secret
information relating to the manufacture of adeno-associated virus vectors as therapeutic agents for various indications and conditions. 

  

	 	1.2	Genable has obtained from Spark an exclusive right and license under such patent rights and confidential and trade secret information for the development and commercialization of therapeutic agents for the treatment of
rhodopsin-linked, autosomal dominant retinitis pigmentosa (RHO-adRP) (“RP”). 

  

	 	1.3	Spark has agreed to provide consultancy services to Genable to assist in the development of the Licensed Product. 

  

	 	1.4	Simultaneous with this Agreement, Spark and Genable have entered into the License Agreement and the Manufacturing Agreement. 

  

	2.	DEFINITIONS 

  

	 	2.1	“Affiliate(s)” shall mean any corporation, firm, partnership or other entity, which controls, is controlled by, or is under common control with, a Party. For purposes of this Paragraph 2.1,
“control” shall mean direct or indirect ownership of fifty percent (50%) or more of the outstanding stock or other voting rights entitled to elect directors thereof or the ability to otherwise control the management of such
corporation, firm, partnership or other entity. Notwithstanding the foregoing, CHOP shall be deemed not to be an Affiliate of Spark. 

  

	 	2.2	 “Clinical Trial” means an investigation in human subjects and/or patients intended to discover or verify the clinical,
pharmacological and/or other pharmacodynamic effects of a Licensed Product, and/or to identify any adverse  

  
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reactions to a Licensed Product, and/or to study absorption, distribution, metabolism, and/or excretion of a Licensed Product with the objective of ascertaining its safety, activity and/or
efficacy. 

  

	 	2.3	“Commercially Reasonable Efforts” means the carrying out of applicable obligations under this Agreement in a commercially reasonable manner using efforts and resources consistent with the practice of
biological development consulting companies of a similar size and resources, both financial and otherwise, to those of Spark, and in any event not less than reasonable efforts and resources, considering the nature of the obligations and their
relation to their applicable development program; 

  

	 	2.4	“First Commercial Sale” means the first sale during a full scale commercial launch by or on behalf of Genable or its sublicensees of Licensed Products in an arm’s length transaction to an
independent third party in any country in the Territory after all applicable required Regulatory Approvals in such country, in exchange for cash or some cash equivalent to which value can be assigned for the purpose of determining Net Sales.

  

	 	2.5	“GT038” means a gene therapeutic comprising an AAV vector containing DNA encoding an RNAi targeting rhodopsin in combination with an AAV vector containing DNA encoding a rhodopsin gene for the treatment
of RP, which is in development by Genable as of the Effective Date, and as such gene therapeutic may be modified after the Effective Date. 

  

	 	2.6	“License Agreement” means the license of even date entered into by the Parties for the license of intellectual property of Spark, subject to terms and conditions set out therein.

  

	 	2.7	“Licensed Field” means adeno-associated virus (“AAV”) based therapeutic agents for the treatment of RP. 

 

	 	2.8	“Licensed Products” means any product incorporating GT038 in the Licensed Field sold by or on behalf of Licensee, its Affiliates, licensees or its sublicensees, the manufacture, use or sale of which
utilizes Confidential Know-How of Spark. For the avoidance of doubt, all products supplied by Spark to Genable pursuant to the Manufacturing Agreement shall be deemed to utilize Confidential Know-How of Spark. 

 

	 	2.9	“Licensed Territory” means worldwide. 

  

	 	2.10	“Manufacturing Agreement” means the manufacturing agreement of even date entered into by the Parties pursuant to which Spark is appointed the exclusive manufacturer of the Licensed Product for Genable,
subject to terms and conditions set out therein. 

  
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	 	2.11	“Net Sales” means the total gross receipts invoiced by Genable, its Affiliates, licensees and sublicensees for sales, including transfers of Licensed Products to others for value or making Licensed
Products available to others for value, of Licensed Products by or on behalf of Genable, its Affiliates, licensees or sublicensees, less: 

  

	 	(a)	sales returns and allowances actually given to third parties, including, trade, quantity and cash discounts and other adjustments (retroactive or otherwise), including, but not limited to, those granted on account of
price adjustments, billing errors, rejected goods, damaged or defective goods, recalls, returns, rebates, stocking allowances, reimbursements or similar payments actually made to customers, wholesalers or distributors, provided however that any
discretionary rebates, discounts, adjustments or similar payments shall be commercially reasonable and consistent with standard industry practices; 

  

	 	(b)	insurance and freight charges and transportation costs actually paid to third parties for the shipment of Licensed Products; 

  

	 	(c)	customs or excise duties, sales tax, consumption tax and other taxes (except income taxes) or duties relating to sales of Licensed Products to third parties that are actually paid by Genable; and 

 

	 	(d)	invoiced amounts that are subsequently written off as uncollectible, provided that if any such amounts are collected after having been written off, such amounts shall thereupon be reincluded in Net Sales.

 No deductions shall be made for commissions paid to any third party or individual (whether they be with independent sales
agencies or regularly employed by Genable, its Affiliates, licensees or sublicensees, and on its payroll) or for the cost of collections. 

Notwithstanding the foregoing, “Net Sales” shall not include amounts (i) for any Licensed Product furnished to a third party
for use in Clinical Trials, for compassionate use or as promotional samples, in either case for which payment (other than the cost of the Licensed Product) is not intended to be received or (ii) from sales or other dispositions of Licensed
Products among Licensee and any of its Affiliates, licensees or sublicensees, unless the Affiliate, licensee or sublicensee, as the case may be, is an end-customer of such Licensed Product. 

 

	 	2.12	“Project Director” shall mean [**] of Spark or such other person as the parties may agree in writing. 

  
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	 	2.13	“Project Staff” shall mean all of the personnel of Spark listed in Appendix B who will be available to Genable pursuant to this Agreement, or such other person as the parties may agree in writing.

  

	 	2.14	“Regulatory Approval” means the final approval to market the Licensed Product in any country of the Territory, including pricing and reimbursement approval and any other approval which is required to
launch the Licensed Product in the normal course of business. 

  

	 	2.15	“Services” means such consultancy services to be provided by Spark which are set out in Appendix A. 

  

	 	2.16	“Specified Term” means, on a country by country basis, ten (10) years from the First Commercial Sale of the Licensed Product in such country of the Licensed Territory. 

 

	 	2.17	“Term” shall have the meaning assigned to it in Paragraph 11.1. 

  

	 	2.18	“$” means United States Dollars. 

  

	3.	APPOINTMENT 

  

	 	3.1	Genable shall engage Spark on a non-exclusive basis to provide the Services to Genable on the terms of this Agreement. 

  

	 	3.2	The engagement of Spark shall commence on the Effective Date and shall continue unless and until terminated as provided by the terms of this Agreement. 

 

	 	3.3	During the Term, Spark shall use Commercially Reasonable Efforts to provide all necessary resources in order to perform the Services in accordance with Appendix A. 

 

	 	3.4	Spark shall not sub-contract the performance of the Services without the prior written consent of Genable, provided that nothing in this Agreement shall restrict Spark from employing contractors (provided
such contractors have been agreed to by Genable in advance in writing, such agreement not to be unreasonably withheld or delayed) to perform ancillary aspects of the Services under its supervision and Genable acknowledges that the Project Director
and members of the Project Staff may comprise personnel employed by Spark as consultants or contractors rather than as employees. Spark shall be responsible for any services it sub-contracts to a third party as if it had performed those services
itself. 

  

	 	3.5	 During the Term of this Agreement, Spark shall not develop or market, whether alone or in conjunction with any third party, any product in the
Licensed Field 

  
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which would compete with the Licensed Product (“Competing Product”). In the event that Spark should develop and/or market any Competing Product during the Term, Genable shall
be entitled to terminate this Agreement with immediate effect and no royalty payments under this Agreement shall be due to Spark thereafter. 

  

	4.	DUTIES AND OBLIGATIONS 

  

	 	4.1	Spark shall use Commercially Reasonable Efforts to perform the Services for Genable during the Term. 

  

	 	4.2	Spark warrants it shall perform its Services, using Commercially Reasonable Efforts, with suitably qualified staff and all necessary resources, in accordance with the current standards of skill, care and diligence
normally practiced by recognized reputable firms in performing services of a similar nature. 

  

	 	4.3	Spark shall perform the Services in compliance with all applicable laws, enactments, orders and regulations and will obtain and maintain in force for the term of this Agreement all licenses, permissions and
authorizations, consents and permits needed to perform the Services, provided that, Spark’s failure to comply with the foregoing obligations of this Paragraph 4.3 shall not constitute a breach of this Agreement unless and until Genable has
notified Spark in writing of the noncompliance and Spark has failed to correct the noncompliance within [**] days thereafter. 

  

	 	4.4	Spark covenants and undertakes to Genable that Spark shall use Commercially Reasonable Efforts to make available all staff, facilities, equipment and other resources as may be necessary to support the provision of the
Services pursuant to this Agreement. 

  

	 	4.5	The Services shall be carried out under the personal direction and supervision of the Project Director using suitably qualified Project Staff. 

 

	 	4.6	In the event that the Project Director becomes unable or unwilling to continue the Services, and a substitute project director of reasonably comparable seniority and qualifications is not available, Genable shall have
the option, at its sole discretion, to terminate this Agreement. If the Parties do not agree as to whether an available substitute project director has reasonably comparable seniority and qualifications, such disagreement shall be resolved in
accordance with Article 12. 

  

	 	4.7	Unless it or he has been specifically authorized to do so by Genable in writing: 

  

	 	(a)	neither Spark nor the Project Director shall have any authority to incur any expenditure in the name of or for the account of Genable; and 

 

	 	(b)	Spark shall not, and shall procure that the Project Director shall not, hold itself out as having authority to bind Genable. 

  
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	 	4.8	Spark shall maintain appropriate records of its performance of the Services, including notes, records, tables, data and correspondence generated and compiled by Spark during the course of carrying out the Services for
Genable during the Term and for such period of time thereafter as specified in Appendix A. Genable shall own, and Spark shall deliver to Genable, the deliverables specified in Appendix A. 

 

	 	4.9	Spark may not publish any articles or make any presentations relating to this Agreement or to any project hereunder or referring to any data, information, materials, and results relating to Licensed Products and
generated as part of the Services, in whole or in part, without the prior written consent of Genable. 

  

	 	4.10	Spark shall notify Genable as specified in the Manufacturing Agreement if the FDA or any other governmental or regulatory authority requests permission to or does inspect, Spark’s facilities during the term of this
Agreement and will provide in writing to Genable, copies of all materials, correspondence, statements, forms and records which Spark receives, obtains or generates pursuant to any such inspections to the extent specified in the Manufacturing
Agreement. 

  

	 	4.11	Spark agrees that all sites and resources used by Spark for the provision of the Services may be audited by Genable at any time during the Term to ensure that the Services are being conducted in accordance with the
terms of this Agreement as well as in compliance with rules and regulations to the extent specified in the Manufacturing Agreement. 

  

	5.	STEERING GROUP 

  

	 	5.1	It is recognized by the Parties that in order to define the Services to be provided by Spark, the Parties will establish a Steering Group. The role and remit of the Steering Group will be to facilitate coordination
between the Parties with respect to the planning and execution of all activities in the Services in order to optimize timing and quality of all activities leading to the commercialization of the Licensed Product. Notwithstanding the foregoing,
Genable shall have the final decision at all times in relation to the development and commercialization of the Licensed Product. 

  

	 	5.2	The Steering Group shall have an equal number of members from each of the Parties and the total size of the Steering Group shall not exceed [**] people. A representative of [**] shall act as the chairman of the Steering
Group. 

  
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	 	5.3	Each member of the Steering Group shall have one vote at meetings of the Steering Group provided however that in the event of any deadlock, the chairman of the Steering Group shall have a casting vote with respect to
the development and commercialization of the Licensed Product. The Steering Group shall not have any power, and the chairman of the Steering Group shall not have any power through his or her casting vote, to amend, or waive compliance with, the
terms of this Agreement. 

  

	 	5.4	Unless otherwise agreed by the parties, the Steering Group shall meet at least [**], such meetings to continue until the completion of the Services. Meetings may be held by telephone, videoconference, or in person
provided that the parties shall meet in person at least [**]. Each Party shall bear all of the costs and expenses in relation to its nominees participating on the Steering Group. 

 

	 	5.5	Within [**] days of each meeting of the Steering Group, the chairman of the Steering Group will prepare and issue minutes of the meeting to each of the Parties. 

 

	 	5.6	Each Party may at any time remove and/or replace any of its appointees on the Steering Group save that (i) the Project Director must at all times be a member of the Steering Group and (ii) the written consent
of Genable is required for any replacement by Spark of any its nominees on the Steering Group which shall not unreasonably be withheld or denied. 

  

	 	5.7	The Steering Group has the authority to appoint sub-committees as required, who will make recommendations and report to the Steering Group. 

 

	6.	PAYMENTS 

  

	 	6.1	As compensation for Spark performing and completing all of the Services pursuant to this Agreement and for the Licensed Product securing Regulatory Approval, Genable shall pay Spark a royalty of [**]% on Net Sales of
the Licensed Product in the Licensed Field for the Specified Term. This shall be the sole payment due to Spark for the provision of the Services. Such royalty shall be in addition to the royalties payable by Genable to Spark pursuant to the License
Agreement. 

  

	 	6.2	Sublicense Revenues: 

  

	 	6.2.1	For any licenses or sublicenses granted by Genable during the term of this Agreement, Genable shall pay to Spark the royalties according to this Agreement on Net Sales of the Licensed Products by Affiliates, licensee(s)
and sublicensee(s) as if such sales were Net Sales from Licensed Products by Genable. 

  
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	 	6.2.2	For the avoidance of doubt, any payments received by Genable from a licensee or sublicensee such as for the funding of research and/or development, or for the granting of any commercialization rights including any
milestone or other upfront payments, shall not be considered to be part of Net Sales. 

  

	 	6.3	On sales of Licensed Products by Genable or Affiliates, licensees or sublicensees made other than in an arm’s-length transaction, the value of the Net Sales attributed under this Article 6 to such a transaction
shall be that which would have been received in an arm’s-length transaction, based on sales of like quantity and quality products on or about the time of such transaction. 

 

	 	6.4	All payments due to Spark from Genable shall be payable within [**] days of the end of the calendar quarter in which the applicable Net Sales occur. 

 

	 	6.5	Payments made by Genable to Spark shall be delivered by wire transfer in U.S. Dollars (unless otherwise specifically agreed by the parties in writing) to the designated bank account of Spark in accordance with such
timely written instructions as Spark shall from time to time provide. 

  

	7.	RECORD KEEPING 

  

	 	7.1	Genable agrees to keep accurate and correct records of Licensed Products appropriate to determine the amount of royalties due Spark. Such records shall be retained for at least [**] years following a given reporting
period. The records shall be available, [**], during normal business hours for inspection at the expense of Spark by an accountant or other designated auditor selected by Spark (and reasonably acceptable to Genable) for the sole purpose of verifying
reports and payments hereunder. Genable may only object to an auditor selected by Spark for good cause shown. The accountant or auditor shall only disclose to Spark information relating to the accuracy of reports and payments made under this
Agreement. If an inspection shows an underreporting or underpayment in excess of [**] percent ([**]%) for any twelve (12) month period, then Genable shall reimburse Spark for the reasonable cost of the inspection at the time Genable pays the
unreported royalties, including any late charges as required by Paragraph 7.2 of this Agreement. All payments required under this Paragraph 7.1 shall, if not disputed by Genable, be due within [**] days of the date Spark provides Genable notice of
the payment due. 

  

	 	7.2	Late charges will be assessed by Spark on any undisputed overdue payments, and on all disputed overdue payments that are determined not to have been correctly disputed, at a rate of [**] percent ([**]%) per month. The
payment of such late charges shall not prevent Spark from exercising any other rights it may have as a consequence of the lateness of any payment. 

  
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	8.	FINANCIAL REPORTS 

  

	 	8.1	Genable shall report to Spark the date of the First Commercial Sale in each country in the Licensed Territory within [**] days of such occurrence. 

 

	 	8.2	Genable shall submit to Spark within [**] days after each calendar quarter ending March 31, June 30, September 30, and December 31 a royalty report setting forth for the preceding quarterly
period the amount of the Licensed Products sold by or on behalf of Genable or by an Affiliate, licensee or sublicensee in each country within the Licensed Territory, the Net Sales, and the amount of royalty or other payment accordingly due. With
each such royalty report, Genable shall submit payment of the earned royalties due. If no earned royalties are due to Spark for any reporting period, the written report shall so state. The royalty report shall be certified as correct by an
authorized officer of Genable and shall include a detailed listing of all deductions made under Paragraph 2.11 to determine Net Sales made under Paragraph 6.1 to determine royalties due. 

 

	 	8.3	Royalties due under Paragraph 6.1 shall be paid in U.S. dollars. For conversion of foreign currency to U.S. dollars, the conversion rate shall be the New York foreign exchange rate quoted in The Wall Street Journal
on the day that the payment is due. Any loss of exchange, value taxes, or other expenses incurred in the transfer or conversion to U.S. dollars shall be paid entirely by Genable. The royalty report required by Paragraph 8.2 of this Agreement
shall accompany each such payment and a copy of such report shall also be mailed to Spark at its address for notices as specified in Paragraph 13.6 of this Agreement. 

 

	 	8.4	All plans and reports required by this Article 8 and marked confidential by Genable shall be treated by Spark as commercial and financial information obtained from a person and as privileged and confidential.

  

	 	8.5	 If applicable laws of Ireland require that taxes be withheld with respect to any payments by Genable to Spark under this Agreement, Genable will:
(a) deduct those taxes from the remittable payment, (b) pay the taxes to the proper taxing authority, and (c) send evidence of the obligation together with proof of tax payment to Spark on a timely basis following that tax payment. If
Spark is a taxable entity in the United States and is therefore entitled to the benefits of the double taxation treaty between Ireland and the United States, and Spark provides Genable with a Form 6166 from the United States Internal Revenue Service
with respect to such taxable status, at or prior to the time of any payment potentially subject to the Irish withholding tax is made hereunder, then payments made by Genable to Spark hereunder shall be made without withholding tax; provided that, if
such double taxation treaty is modified after the Effective Date so that payments to Spark hereunder are subject to withholding taxes, Genable shall give notice to Spark of such change and shall pay to Spark such additional amount as may be

  
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necessary so that Spark shall receive, after deduction of such withholding tax, the amount which Spark would have received in the absence of such withholding tax less [**] percent ([**]%) of the
withholding tax amount (i.e., the Parties [**] percent ([**]%) of the withholding tax amount). If Spark is not able to meet the above criteria for withholding tax treaty benefits, then Genable shall make payments less any required withholding tax,
and such withholding taxes required under Irish law shall be borne solely by Spark. If Genable or any successor or assign of Genable makes any payment to Spark hereunder in a manner that subjects such payment to a withholding tax obligation under
the laws of any jurisdiction other than those of Ireland (i.e., either by such entity being or becoming domiciled in any jurisdiction other than Ireland or by such entity making any payment to Spark from a jurisdiction outside of Ireland), then
Genable shall give notice to Spark of such requirement and shall pay to Spark such additional amount as may be necessary so that Spark shall receive, after deduction of such withholding tax, the amount which Spark would have received in the absence
of such withholding tax. Each Party agrees to cooperate with the other Party in claiming refunds or exemptions from such deductions or withholdings under any relevant agreement or treaty which is in effect (e.g., Genable shall not withhold Irish
withholding tax without first confirming with Spark that Spark is not able to provide the documentation of its taxable status as described above). The Parties shall discuss and cooperate regarding applicable mechanisms for minimizing such taxes to
the extent possible in compliance with applicable law. In addition, the Parties shall cooperate in accordance with applicable law to minimize indirect taxes (such as value added tax, sales tax, consumption tax and other similar taxes) in connection
with this Agreement. 

  

	9.	WARRANTIES 

  

	 	9.1	Spark and Genable offer no warranties other than those specified in this Agreement. 

  

	 	9.2	Spark represents and warrants to Genable that this Agreement has been duly executed and delivered by a duly authorized officer of Spark and constitutes the valid and legally binding obligations of Spark enforceable
against Spark according to its terms except as enforceability of this Agreement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally. 

 

	 	9.3	Genable represents and warrants to Spark that this Agreement has been duly executed and delivered by a duly authorized officer of Genable and constitutes the valid and legally binding obligations of Genable enforceable
against Genable according to its terms except as enforceability of this Agreement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally. 

  
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	 	9.4	Each of the Parties shall indemnify, defend and hold harmless the other Party from all actions, losses, claims, demands, damages, costs and liabilities (including reasonable attorneys’ fees) to which the other
Party is or may become liable insofar as they arise out of any breach by the first Party of any of its obligations or warranties under this Agreement. 

  

	 	9.5	Each Party shall when seeking an indemnity pursuant to Paragraph 9.4 shall: 

  

	 	(a)	fully and promptly notify the indemnifying Party of any claim or proceedings, or threatened claim or proceedings; 

  

	 	(b)	permit the indemnifying Party to take full control of such claim or proceedings, with counsel of such indemnifying Party’s choice, provided that the indemnifying Party shall reasonably and regularly consult with
the indemnified Party in relation to the progress and status of such claim or proceedings; 

  

	 	(c)	co-operate in the investigation and defense of such claim or proceedings; and 

  

	 	(d)	take all reasonable steps to mitigate any loss or liability in respect of any such claim or proceedings. 

The indemnifying Party may settle a claim on terms which provide only for monetary relief and do not include any admission of liability. Save
as aforesaid, neither the indemnifying Party nor the Party to be indemnified shall acknowledge the validity of, compromise or otherwise settle any claim without the prior written consent of the other, which shall not be unreasonably withheld or
delayed. 
  

	 	9.6	NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT, NEITHER SPARK NOR GENABLE SHALL BE LIABLE TO THE OTHER BY REASON OF ANY REPRESENTATION OR WARRANTY, CONDITION OR OTHER TERM OR ANY DUTY OF COMMON LAW, OR UNDER
THE EXPRESS TERMS OF THIS AGREEMENT, FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL OR PUNITIVE LOSS OR DAMAGE (OR FOR ANY LOSS OF CURRENT OR FUTURE PROFITS, LOSS OF ENTERPRISE VALUE) LOSS OF USE, LOSS OF SAVINGS OR ANTICIPATED SAVING, LOSS OF
GOODWILL, LOSS OF DATA OR LOSS OF BUSINESS OR ANTICIPATED BUSINESS, WHETHER OCCASIONED BY THE NEGLIGENCE OF THE RESPECTIVE PARTIES, THEIR EMPLOYEES OR AGENTS OR OTHERWISE. 

 

	 	9.7	Nothing in this Agreement shall have the effect of excluding or limiting any liability for death or personal injury caused by negligence or for fraud. 

 

	10.	CONFIDENTIALITY 

  

	 	10.1	 Each Party undertakes with the other that it shall keep, and that it shall procure that its respective directors and employees keep secret and
confidential all know-how, technical, business and other information that has the quality of 

  
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confidentiality and that is communicated to it by the other Party under or in respect of this Agreement or acquired from any other Party as a result of this Agreement (“Confidential
Information”) and shall not disclose the same or any part of the same to any person whatsoever SAVE THAT either Party may disclose Confidential Information to its Affiliates and sublicensees and any of its directors, employees or
consultants who are directly or indirectly legitimately involved with the Spark Intellectual Property and its exploitation and who require the said Confidential Information for the purposes of the said involvement. 

 

	 	10.2	The non-disclosure provision of Paragraph 10.1 shall not apply to: 

  

	 	(a)	Confidential Information in the public domain otherwise than by breach of this Agreement; 

  

	 	(b)	Confidential Information in the lawful possession of a Party prior to disclosure by any other Party as evidenced by written records; 

 

	 	(c)	Confidential Information that was created independent of disclosure as evidenced by written records; or 

  

	 	(d)	Confidential Information obtained from a third party who is free to divulge the same. 

  

	 	10.3	The obligations of each Party under this Article 10 shall continue in force notwithstanding the termination of this Agreement. 

  

	 	10.4	Any Confidential Information disclosed by the disclosing Party shall be used by the receiving Party exclusively for the purposes of fulfilling the receiving Party’s rights and obligations under this Agreement and
for no other purpose. 

  

	 	10.5	A Party (the “Required Party”) will be entitled to make a disclosure or public statement concerning the existence, subject matter or any term of this Agreement, or to disclose Confidential Information
that the Required Party is required to make or disclose pursuant to: 

  

	 	(a)	a valid order of a court or governmental authority; or 

  

	 	(b)	any other requirement of law or any securities or stock exchange; 

 provided that if the
Required Party becomes legally required to make such announcement, public statement or disclosure hereunder, the Required Party shall (to the extent possible) give the other Party prompt notice of such fact to enable the other Party to seek a
protective order or other appropriate remedy concerning any such announcement, public statement or disclosure, including confidential treatment and/or appropriate redactions. 
  

	 	10.6	 The Required Party shall fully co-operate with the other Party in connection with that other Party’s efforts to obtain any such order or other
remedy. If any such 

  
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order or other remedy does not fully preclude announcement, public statement or disclosure, the Required Party shall make such announcement, public statement or disclosure only to the extent that
the same is legally required. 

  

	11.	TERM AND TERMINATION 

  

	 	11.1	This Agreement is effective beginning with the Effective Date and shall extend with respect to the provision of Services until the later of Regulatory Approval of the Licensed Product in the US or in the EU and with
respect to the payment of royalties hereunder until the expiration of the last-to-expire Specified Term, unless sooner terminated as provided in this Article 11 (“Term”). 

 

	 	11.2	A Party shall be entitled to terminate this Agreement with immediate effect by giving notice in writing to the other Party if: 

  

	 	(i)	the other Party fails to pay any amount due under this Agreement on the due date for payment and remains in default not less than [**] days after being notified in writing to make such payment, provided that, if the
paying Party in good faith disputes any such amount, provides notice of such dispute to the other Party, institutes dispute resolution pursuant to Article 12 and pays all undisputed amounts prior to the end of such [**] day period, this Agreement
shall not terminate if the paying Party pays all amounts finally determined to be payable in such dispute resolution within [**] days after such final determination; or 

 

	 	(ii)	the other Party commits a material breach of its obligations under this agreement and (if such breach is remediable) fails to remedy that breach within a period of [**] days after receipt of notice in writing requiring
it to do so; or 

  

	 	(iii)	the other Party becomes insolvent, or if an interim order is applied for or made, or a voluntary arrangement approved, or a voluntary arrangement is proposed or approved or an administration order is made, or a receiver
or administrative receiver is appointed over any of the other Party’s assets or undertaking or a winding-up resolution or petition is passed or presented (otherwise than for the purposes of reconstruction or amalgamation), or if any
circumstances arise which entitle the court or a creditor to appoint a receiver, administrative receiver or administrator or to prevent a winding-up petition or make a winding-up order, or other similar or equivalent action is taken against or by
the other Party by reason of its insolvency or in consequence of debt, or if the other party makes any arrangement with its creditors. 

  

	 	11.3	Genable shall have a unilateral right to terminate this Agreement without cause by giving Spark ninety (90) days prior written notice to that effect. 

  
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	 	11.4	In the event that this Agreement is terminated by Genable at any point in time pursuant to Paragraph 4.6 or Paragraph 11.2, then: 

 

	 	11.4.1	if such termination occurs prior to the [**], the royalty payable to Spark pursuant to Paragraph 6.1 shall cease with immediate effect and no further payment shall thereafter be due to Spark pursuant to this Agreement;
or 

  

	 	11.4.2	if such termination occurs after the [**], the royalty payable to Spark pursuant to Paragraph 6.1 shall be reduced to [**] percent ([**]%) of the royalty that would be applicable in the absence of such termination and
Genable’s obligation to pay such reduced royalty shall survive termination of this Agreement; or 

  

	 	11.4.3	if such termination occurs after the [**], the royalty payable to Spark pursuant to Paragraph 6.1 shall be reduced to [**] percent ([**]%) of the royalty that would be applicable in the absence of such termination and
Genable’s obligation to pay such reduced royalty shall survive termination of this Agreement; or 

  

	 	11.4.4	if such termination occurs after the [**], the royalty payable to Spark pursuant to Paragraph 6.1 shall not be reduced and Genable’s obligation to pay such full royalty shall survive termination of this Agreement.

 The royalty reductions set forth in this Paragraph 11.4, if any, shall be in lieu of any claim for damages that Genable
might otherwise have the right to make based on the circumstances giving rise to Genable’s termination pursuant to Paragraph 4.6 or Paragraph 11.2 and shall constitute Genable’s sole and exclusive remedy therefor. 

 

	 	11.5	Termination of this Agreement will not relieve any party from any obligation that has accrued prior to termination. 

  

	 	11.6	The following provisions of this Agreement shall survive termination: 4.8, 6, 7, 8, 10, 11.4, 11.5, 13.5, 13.8, 

  

	12.	DISPUTES 

  

	 	12.1	 If a dispute arises which cannot be resolved in the normal course of events, any Party to the dispute may give notice in writing to the others
specifying the subject matter of the dispute and its proposal for its resolution. For the avoidance of doubt, Genable shall have the final decision at all times in relation to the development and commercialization of the Licensed Product and no such
decision by Genable shall be subject to this dispute mechanism. The Parties must procure that the dispute is considered by their respective authorized 

  
 15 

	 	
representatives and that such authorized representatives use all reasonable endeavors, in good faith, to resolve the dispute within [**] days of the date of the notice specifying the dispute. If
the authorized representatives reach agreement on the matter in dispute in the period specified in this Paragraph 12.1, the Parties shall procure that their respective representatives sign a joint memorandum to that effect recording the resolution
and procure that such agreement is fully and promptly carried into effect. 

  

	 	12.2	If the authorized representatives fail to reach agreement, any Party may refer the matter to the Chief Executive Officers of the Parties (together the “Senior Officers”). The Parties shall respectively procure
that the Senior Officers attempt in good faith to resolve the dispute. If the Senior Officers reach agreement on the matter in dispute within [**] days of the dispute being referred to them (or such other period as the Parties may mutually agree in
writing) the Parties shall procure that their respective Senior Officers shall sign a joint memorandum to that effect recording the resolution and procure that such agreement is promptly and fully carried into effect. 

 

	 	12.3	The dispute resolution procedure shall have been exhausted if the matter in dispute: 

  

	 	(a)	has not been resolved in accordance with Paragraph 12.1 within the relevant period and is not referred to the Senior Officers within the relevant period; or 

 

	 	(b)	where it is so referred, has not been resolved in accordance with Paragraph 12.2 within the relevant period. 

  

	 	12.4	For the avoidance of doubt, the fact that the dispute resolution procedure has been exhausted without resolution shall not prevent the Parties from agreeing that the dispute be referred to an independent alternative
form of dispute resolution and/or to arbitration. 

  

	 	12.5	The foregoing provisions shall not prevent either Party from commencing legal proceedings or applying to the court for injunctive or other interim relief at any time. 

 

	 	12.6	 Any controversy or claim related to or arising out of this Agreement (other than a patent dispute) shall be settled by arbitration conducted on a
confidential basis under the Commercial Arbitration Rules of the International Centre for Dispute Resolution (“ICDR”) in effect at the time of the arbitration (“Rules”). Any arbitration shall be held in Manhattan, New York before
one disinterested arbitrator selected by the mutual agreement of the Parties; provided, however, that if the Parties are unable to agree on the arbitrator within [**] days, the arbitrator shall be appointed in accordance with the Rules. Any Party
desiring 

  
 16 

	 	
arbitration shall serve on the other Party pursuant to Section 16.6 and the regional case management center of the ICDR administering cases for such location in accordance with the aforesaid
Rules, its notice of intent to arbitrate (“Arbitration Notice”). All arbitrations shall be administered by the ICDR. 

  

	 	12.7	The arbitrator shall have no authority to award damages expressly precluded under this Agreement. The award of the arbitrator shall be final and binding upon the parties and judgment upon such award may be entered and
enforced in any court of competent jurisdiction. Unless the arbitrator for good cause determines otherwise, the costs and expenses of the arbitrator shall be shared equally by the parties and each party will bear its own attorneys’ fees and
other costs associated with the arbitration proceeding. If court proceedings to stay litigation or compel arbitration are necessary, the party that unsuccessfully opposes such proceedings will pay all associated costs, expenses and attorneys’
fees that are reasonably incurred by the other party. 

  

	13.	GENERAL PROVISIONS 

  

	 	13.1	Neither Party may waive or release any of its rights or interests in this Agreement except in writing. The failure of either Party to assert a right hereunder or to insist upon compliance with any term or condition of
this Agreement shall not constitute a waiver of that right by such Party or excuse a similar subsequent failure to perform any such term or condition by Genable. 

  

	 	13.2	This Agreement, together with the Manufacturing Agreement and License Agreement, constitutes the entire agreement between the Parties relating to the subject matter, and all prior negotiations, representations,
agreements, and understandings are merged into, extinguished by, and completely expressed by such agreements. 

  

	 	13.3	The provisions of this Agreement are severable, and in the event that any provision of this Agreement shall be determined to be invalid or unenforceable under any controlling body of law such determination shall not in
any way affect the validity or enforceability of the remaining provisions of this Agreement. 

  

	 	13.4	If either Party desires a modification to this Agreement, the Parties shall, upon reasonable notice of the proposed modification by the Party desiring the change, confer in good faith to determine the desirability of
such modification. No modification will be effective until a written amendment is signed by the signatories to this Agreement or their designees. 

  

	 	13.5	The construction, validity, performance, and effect of this Agreement shall be governed by the Laws of the State of New York and, subject to Article 12, any and all actions or proceedings relating to this Agreement
shall be brought and pursued exclusively in the federal or state courts sitting in United States District Court for the Southern District of the State of New York. 

  
 17 

	 	13.6	Any notice required to be given under this Agreement shall be in writing and shall be delivered personally, or sent by pre-paid post or recorded delivery or by commercial courier, to each Party required to receive the
notice at its address as set out below: 

 Spark: 

Spark Therapeutics, LLC 
 3501
Civic Center Blvd., 5th Floor 
 Philadelphia, PA 19104 

USA 
 Attention: Jeffrey
Marrazzo, CEO 
 Genable: 

Genable Technologies Limited 

c/o Delta Partners 
 Media
House, South County Business Park 
 Leopardstown, Dublin 18 

Ireland 
 Attention: Jason
Loveridge, CEO 
 or as otherwise specified by the relevant Party by notice in writing to each other Party. 

  
 18 

 Any notice shall be deemed to have been duly received: 

 

	 	(i)	if delivered personally, when left at the address and for the contact referred to in this Paragraph 13.6, or 

  

	 	(ii)	if delivered by commercial courier, on the date and at the time that the courier’s delivery receipt is signed. 

A notice required to be given under this Agreement shall not be validly given if sent by e-mail. The provisions of this Paragraph 13.6 shall
not apply to the service of any proceedings or other documents in any legal action. 
  

	 	13.7	This Agreement, or any obligations of a party under this Agreement, may not be assigned except as expressly provided in this Agreement. This Agreement may be assigned by either Party as part of a sale or transfer of
substantially the entire business of the assigning Party relating to operations which concern this Agreement, provided that the assigning Party notifies the other Party in writing within [**] days of any assignment of this Agreement by the assigning
Party. 

  

	 	13.8	Neither Party shall issue any press releases or public disclosures relating to this Agreement, other than the initial press release issued by the Parties pursuant to the License Agreement and any public disclosures that
may be required pursuant to applicable securities laws and regulations, without the prior written consent of the other Party, which consent shall not be unreasonably withheld or delayed. Neither Party shall use the name or logo of the other Party,
and Genable shall not use the name of past or present Spark employees, in any advertising, promotional or sales activities without prior written consent obtained from the other Party in each separate case, except as otherwise provided in this
Agreement. 

  

	 	13.9	Neither Party to this Agreement shall be liable for delay in the performance of any of its obligations hereunder if such delay results from causes beyond its reasonable control, including, without limitation, acts of
God, fires, strikes, acts of war, or intervention of a government authority, non-availability of raw materials, but any such delay or failure shall be remedied by such Party as soon as practicable. 

 

	 	13.10	This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute this Agreement. 

 

	 	13.11	Both Parties are independent contractors under this Agreement. Nothing herein contained shall be deemed to create an employment, agency, joint venture or partnership relationship between the Parties hereto or any of
their agents or employees. Neither Party shall have any express or implied power to enter into any contracts or commitments or to incur any liabilities in the name of, or on behalf of, the other Party, or to bind the other Party in any respect
whatsoever. 

  
 19 

	 	13.12	No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations, or liabilities hereunder upon any third party beneficiary or on any person other than the Parties and their respective
affiliates, successors and assigns. 

 IN WITNESS WHEREOF, duly authorized representatives of the Parties have duly executed
this Agreement to be effective as of the Effective Date. 
  

					
	SPARK THERAPEUTICS, LLC:	 		 	
			
	 /s/ Jeffrey D. Marrazzo
	 		 	March 18, 2014
	Signature of Authorized Official	 		 	Date
			
	 Jeffrey D. Marrazzo
	 		 	
	Printed Name	 		 	
			
	 President & CEO Title
	 		 	
	Title	 		 	
			
	GENABLE TECHNOLOGIES LIMITED:	 		 	
			
	 /s/ Jason Loveridge
	 		 	18th MARCH 2014
	Signature of Authorized Official	 		 	Date
			
	 /s/ Jason Loveridge
	 		 	
	Printed Name	 		 	
			
	 CEO
	 		 	
	Title	 		 	

  
 20 

 APPENDIX A – Services 

Spark will, make available its clinical, regulatory, manufacturing and general gene therapy expertise as well as facilitate arms-length agreements with
Clinical Investigational Sites which will be needed for the clinical development of the Licensed Product. 
 Spark will provide these Services through
attendance at Steering Group meetings and ad hoc telephonic and email communications as reasonably requested by Genable. 
 The primary role of the Steering
Group will be to plan and monitor the execution of the development of Licensed Product leading to timely and successful US and European regulatory approval of Licensed Product. 

Spark will participate in all such activities of the Steering Group which will include strategic advice and recommendations relating to the operational
activities of the development program. Input will include, for example but not be limited to, review and input to pre-clinical and clinical protocols, decisions on appointment of advisors, input on the regulatory strategy, review of data and input
to the resolution of issues arising during the development of Licensed Product. 
 For the avoidance of doubt, Spark will not be required under the Services
to conduct any preclinical or clinical studies and related activities involving the Licensed Product including the preparation of clinical protocols, study reports or regulatory documents. The input required is solely in an advisory capacity. 

The Steering Group may appoint subcommittees to deal with a specific issue or activity related to the development of Licensed Product. Spark will participate
on such subcommittees as mutually agreed. One such subcommittee which shall be formed and on which Spark will participate will be a Joint Manufacturing Committee, as detailed in the Manufacturing Agreement, which will facilitate technical transfer
of manufacturing information between the Parties as required for the timely and continued manufacture of Licensed Product. This subcommittee will report to the Steering Group. 

  
 21 

 APPENDIX B – Project Staff 

[**] 

  
 22EX-10.17

 Exhibit 10.17 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. Double asterisks denote omissions. 

Execution Version 
 Final Execution
Copy 
 UNIVERSITY Of PENNSYLVANIA 

Patent License Agreement 
 This Patent
License Agreement (this “Agreement”) is between The Trustees of the University of Pennsylvania, a Pennsylvania nonprofit corporation (“Penn”), and Spark Therapeutics, Inc., a Delaware corporation
(“Company”). This Agreement is being signed on December 2, 2014 (the “Execution Date”). This Agreement will become effective on December 2, 2014(the “Effective Date”). 

BACKGROUND 
 Penn owns certain
intellectual property developed by Drs. Jean Bennett and Jeannette Bennicelli of Penn’s Perelman School of Medicine. The intellectual property relates to certain proviral plasmids that are useful in the manufacture of certain gene therapy
products for the treatment of Choroideremia (CHM). Penn owns certain patent applications for letters patent relating to the intellectual property as set forth in Exhibit A below. Company desires to obtain an exclusive license under the
aforementioned patent rights and related intellectual property for purposes of manufacturing Licensed Products (as defined herein). Penn has determined that the exclusive commercial exploitation of the patent rights and related intellectual property
by Company is in the best interest of the Institution and is consistent with its educational and research missions and goals. 
 In consideration of the
mutual obligations contained in this Agreement, and intending to be legally bound, the parties agree as follows: 
 1. LICENSE 

1.1 License Grant. Penn grants to Company an exclusive, world-wide license (the “License”) to make, have made, use,
import, offer for sale and sell Licensed Products in the Field of Use during the Term (as such terms may be defined in Sections 1.2 and 6.1). The License includes the right to sublicense as permitted by this Agreement. Notwithstanding anything to
the contrary in this Agreement, the License does not include the right to, and Company, its Affiliates and sublicensees shall not, offer for sale, sell or otherwise transfer to any third party proviral plasmids covered by the Patent Rights, other
than the transfer for the sole purpose of manufacturing or testing Licensed Product(s) pursuant to a written fee for service agreement which prohibits such service provider from offering for sale, selling, distributing or otherwise transferring such
proviral plasmids to any third party. No other rights or licenses are granted by Penn. 
 1.2 Related Definitions. The term
“Licensed Products” means products that are made, made for, used, imported offered for sale or sold by Company or its Affiliates or sublicensees and that would (i) in the absence of the License, infringe (or, in the case of
pending patent applications, upon issuance, would infringe) at least one unexpired claim of the Patent Rights or (ii) use a process or machine covered by a claim of Patent Rights, whether the claim is issued or pending. The term “Patent
Rights” means all of Penn’s patent rights represented by or issuing from: (a) the United States patents and patent applications listed in Exhibit A; (b) any 

 
continuation, divisional and re-issue applications of (a); and (c) any foreign counterparts and extensions of (a) or (b). The term “Affiliate” means a legal entity that
is controlling, controlled by or under common control with Company and that has executed either this Agreement or a written joinder agreement agreeing to be bound by all of the terms and conditions of this Agreement. For purposes of this
Section 1.2, the word “control” means (x) the direct or indirect ownership of more than fifty percent (50%) of the outstanding voting securities of a legal entity, (y) the right to receive fifty percent
(50%) or more of the profits or earnings of a legal entity, or (z) the right to determine the policy decisions of a legal entity. The term “Field of Use” means research, development, manufacture and commercialization for
the diagnosis, treatment, amelioration and prevention of Choroideremia (CHM). For clarity Field of Use shall not include sale of proviral plasmids covered by the Patent Rights. 

1.3 Reservation of Rights by Penn. Penn reserves the right to use, and to permit other non-commercial entities to use, the Patent Rights
for educational and research purposes. 
 1.4 U.S. Government Rights. The parties acknowledge that the United States government
retains rights in intellectual property funded under any grant or similar contract with a Federal agency. The License is expressly subject to all applicable United States government rights, including, but not limited to, any applicable requirement
that products, which result from such intellectual property and are sold in the United States, must be substantially manufactured in the United States. 

1.5 Sublicense Conditions. The Company’s right to sublicense granted by Penn under the License is subject to each of the following
conditions: 
 (a) In each sublicense agreement, Company will (i) prohibit the sublicensee from further sublicensing under the License ,
provided that such prohibition shall not apply to further sublicensing by any entity that (together with its affiliates) had [**] U.S. dollars or more in worldwide drug product revenues in the calendar year most recently completed as of the grant of
the sublicense; and (ii) require the sublicensee to comply with the terms and conditions of this Agreement applicable to sublicensees. For purposes of Sections 1.5 (a) and (c) and 13.5, “affiliates” shall mean a legal entity
that is controlling, controlled by or under common control with sublicensee. For purposes of these Sections, the word “control” means (x) the direct or indirect ownership of more than fifty percent (50%) of the outstanding
voting securities of a legal entity, (y) the right to receive fifty percent (50%) or more of the profits or earnings of a legal entity, or (z) the right to determine the policy decisions of a legal entity. 

(b) Within [**] days after Company enters into a sublicense agreement, Company will deliver to Penn a complete and accurate copy of the entire
sublicense agreement written in the English language. Penn’s receipt of the sublicense agreement, however, will constitute neither an approval of the sublicense nor a waiver of any right of Penn or obligation of Company under this Agreement.

 (c) In the event that Company causes or experiences a Trigger Event (as defined in Section 6.4), all payments due to Company from its
Affiliates or sublicensees under the sublicense agreement will, upon notice from Penn to such Affiliate or sublicensee, become payable directly to Penn for the account of Company and, subject to such notice and (except with respect to any
sublicensee that is an entity that (together with its affiliates) had [**] U.S. dollars or more in worldwide drug product revenues in the calendar year most recently completed as of 

  
 - 2 - 

 
the grant of the sublicense, for which such consent shall not be required) the written consent of Penn, any sublicenses granted to any such Affiliate or sublicensee shall, subject to such
continued payments, remain in effect. Upon receipt of any such funds, Penn will remit to Company the amount by which such payments exceed the amounts owed by Company to Penn. If Penn does not consent to survival of any sublicenses, then (except with
respect to any sublicensee that is an entity that (together with its affiliates) had [**] U.S. dollars or more in worldwide drug product revenues in the calendar year most recently completed as of the grant of the sublicense, for which such consent
shall not be required) they terminate along with this Agreement according to Section 6.3. 
 (d) Company’s execution of a
sublicense agreement will not relieve Company of any of its obligations under this Agreement. Company is primarily liable to Penn for any act or omission of an Affiliate or sublicensee of Company that would be a breach of this Agreement if performed
or omitted by Company, and Company will be deemed to be in breach of this Agreement as a result of such act or omission. 
 1.6 No License
by Implication. Nothing in this Agreement confers by estoppel, implication or otherwise, any license or rights under any Penn patent other than the Patent Rights, regardless whether such patents are dominant or subordinate to the Patent Rights.
Nothing in this Agreement confers by estoppel, implication or otherwise, any license or rights under any Company patent, regardless whether such patents are dominant or subordinate to the Patent Rights, or any authorization under any regulatory
approval or orphan drug designation held by Company. 
 2. DILIGENCE 

2.1 Development Plan. Within [**] days of the Effective Date, Company will deliver to Penn, a copy of an initial development plan for
the Patent Rights (the “Development Plan”). The purpose of the Development Plan is (a) to demonstrate Company’s capability to bring the Patent Rights to commercialization, (b) to project the timeline for completing
the necessary tasks, and (c) to measure Company’s progress against the projections. Thereafter, Company will deliver to Penn an annual updated Development Plan no later than [**] of each year during the Term. The Development Plan will
include, at a minimum, the information listed in Exhibit B. 
 2.2 Company’s Efforts. Company will use commercially
reasonable efforts to develop, commercialize, market and sell Licensed Products in a manner consistent with the Development Plan. 
 2.3
Diligence Events. The Company will use commercially reasonable efforts to achieve each of the diligence events by the applicable completion date listed in the table below for the first Licensed Product. 

 

					
	 DILIGENCE EVENT
	  	COMPLETION DATE	 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 

 [**]. 

  
 - 3 - 

 2.4 Diligence Resources. Until the [**], Company will expend resources in the development
and commercialization of the Licensed Products of amounts not less than the diligence minimums specified in the table below in each 12-month period following the Effective Date. If Company’s total expenditures for development and
commercialization of Licensed Products in any 12-month period do not meet or exceed the applicable diligence minimum, then Company will pay to Penn the amount of the shortfall. Company will make any payments of the shortfall to Penn within together
with the next Development Plan due to Penn under Section 2.1. 
  

													
	 ANNIVERSARY:
	  	First	 	 	Second	 	 	Third and thereafter	 
	 LICENSE DILIGENCE FEE:
	  	 	[	**] 	 	 	[	**] 	 	 	[	**] 

 3 FEES AND ROYALTIES 

Initiation Fee. In partial consideration for the License, Company will issue to Penn, in lieu of a license initiation fee, 1,000,000 shares of Company
restricted common stock (the “Initiation Fee Shares”), which Initiation Fee Shares shall vest on the following schedule: 

[**] 
 [**] 

[**] 
 [**] 

[**] 
 In the event that the Agreement is terminated, for any
reason other than Failure (as defined below) of the CHM Program, all of the remaining Initiation Fee Shares shall vest immediately. In the event that the Agreement is terminated as a result of a Failure of the CHM Program, fifty percent
(50%) of all remaining Initiation Fee Shares shall vest immediately. The term “Failure” means (i) failure to meet safety study evaluation requirements as set forth in the protocol or (ii) the absence of any clinically
meaningful benefit under the CHM Program as set forth in the applicable clinical protocol, in each case as documented in the written notice of termination. Any dispute relating to such termination for Failure, shall be determined in accordance with
Section 13.11. Notwithstanding the foregoing, in the event that the Agreement is not otherwise terminated on or before the tenth anniversary of the Effective Date, all of the remaining Initiation Fee Shares shall fully vest upon such 10th anniversary date. The issuance of equity to Penn will be pursuant to a common stock purchase and restricted stock agreement, an Adoption Agreement to that certain Company Voting Agreement, the forms
of which are attached as Exhibits C and D (the “Equity Documents”). 

  
 - 4 - 

 3.1 License Maintenance Fees. In partial consideration of the License, Company will pay to
Penn, on each anniversary of the Effective Date until the first Commercial Sale (as defined in Section 3.3) of the first Licensed Product, the applicable license maintenance fee listed in the table below. Such license maintenance fees shall be
creditable toward earned Royalties payable by Company in accordance with Section 3.4 below. 
  

																	
	 ANNIVERSARY:
	  	First	 	 	Second	 	 	Third	 	 	Fourth and thereafter	 
	 LICENSE MAINTENANCE FEE:
	  	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 

 3.2 Milestone Payments. In partial consideration of the License, Company will pay to Penn the
applicable milestone payment listed in the table below within [**] days after achievement of each milestone event for each Licensed Product, regardless of whether such milestone was achieved by Company, its Affiliates or sublicensees. Company will
provide Penn with written notice within [**] days after achieving each milestone for each Licensed Product.  
  

					
	 MILESTONE
	  	PAYMENT	 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 

 [**] 

The term “European Union” means the European Union as it is constituted as of the time of the relevant First Commercial
Sale. For the purposes of this Section 3.3 only, the term “First Commercial Sale” shall mean the first sale by Company, its Affiliates or a sublicensee, whether at retail, wholesale or otherwise, of any Licensed
Product following marketing approval in the country of sale to a third party that is not an Affiliate or a sublicensee (a “Commercial Sale”). The following are not Commercial Sales: (i) a transfer or sale by
Company to a sublicensee hereunder or by a sublicensee hereunder to another such sublicensee, unless any such sublicensee is the end user of the Licensed Product, in which case such transfer shall be deemed to be a Commercial Sale; (ii) a
transfer by Company, or any Affiliate or any sublicensee hereunder, to a third party for purposes of clinical trials, as free samples, or under compassionate use, patient assistance, named patient or other similar programs or studies where the
Licensed Product is supplied and/or delivered without charge, or for other testing, or a commercially reasonable number of units of Licensed Product transferred for no consideration for marketing purposes (e.g., samples), but not for resale by the
third party; (iii) the use of Licensed Product by Company or any of its Affiliates or sublicensees for research and development purposes; or (iv) sales made to a distributor prior to commercial launch of a Licensed Product, until the
earlier of such time as Company recognizes the revenue for such transfers pursuant to US GAAP or such time as the distributor makes any sale of such Licensed Product. 

For clarity, each time a milestone is achieved with respect to a Licensed Product, then any other milestone payments with respect to earlier milestones that
have not yet been paid will be due and payable together with the milestone payment for the milestone that is actually achieved. For additional clarity, milestones are due and payable on Licensed Products and on products that, upon FDA approval,
would become Licensed Products. 

  
 - 5 - 

 With Penn’s written concurrence and consent, Company may substitute issuance to Penn of Company’s
common stock for up to 100% of any of the payments described above in this Section 3.3. If Company requests such option and Penn agrees, the common stock issued to Penn would be based on the payment amount(s) that are eliminated by such
issuance and the fair market value of the Company’s common stock as determined in good faith by the Company’s Board of Directors. In connection with any such issuance, Penn will enter into a stock purchase agreement with Company on terms
and conditions substantially the same as the terms and conditions of Company’s other most recent financing agreements, and such other documents as the parties mutually agree (“Equity Document(s)”). 

3.3 Earned Royalties. In partial consideration of the License, Company will pay to Penn a royalty on Net Sales of Licensed Products on a
country-by-country basis on the following terms: if Licensed Product achieves Orphan Designation1, Company will pay to Penn a royalty for so long as such Orphan Designation is in effect on a
country-by-country basis of [**] percent ([**]%) of Net Sales during the Quarter, if Licensed Product does not achieve Orphan Designation or if Orphan Designation expires, Company will pay to Penn a royalty on a country-by-country basis of [**]
percent ([**]%) of Net Sales during the Quarter. Earned royalty payments shall be due and payable regardless of whether they are triggered by Company, its Affiliates and or its Sublicensees. Company has the right to reduce royalty payments hereunder
by amounts paid to third parties for licenses to third party IP by up to [**]% on a country-by-country basis, if a license to third party IP is required to sell a Licensed Product. In no event shall royalties to Penn be reduced below [**]% in any
country. 
 3.4 Sublicense Fees. In partial consideration of the License, Company will pay to Penn sublicense fees as per the table
below of the sum of all payments plus the fair market value of all other consideration of any kind, received by Company from non-Affiliate sublicensees in consideration for the grant of the sublicense during the Quarter (“Sublicense
Fees”), other than: (a) royalties paid to Company by a sublicensee based upon Sales or Net Sales by the sublicensee; (b) equity investments in Company by a sublicensee up to the amount of the fair market value of the equity
purchased on the date of the investment; (c) loan proceeds paid to Company by a sublicensee in an arms-length, full recourse debt financing to the extent that such loan is not forgiven; and (d) sponsored research funding paid to Company by
a sublicensee in a bona fide transaction for future research to be performed by Company. 
  

					
	 DATE SUBLICENSE GRANTED
	  	% OF
CONSIDERATION
PAYABLE	 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 
	 [**]
	  	 	[	**] 

  

	1 	Orphan Designation (or sometimes “orphan status”) is a special status that is granted to a drug or biological product to treat a rare disease or condition upon request of the Company. For a drug to qualify for
orphan designation both the drug and the disease or condition must meet certain criteria specified in the Orphan Drug Act and FDA’s implementing regulations at 21 CFR Part 316. For purposes of the Agreement, Orphan Designation shall mean that
the FDA or other foreign regulatory body has granted the Company market exclusivity with respect to the Licensed Product. 

  
 - 6 - 

 Notwithstanding anything to the contrary herein, Company shall be permitted to sublicense or otherwise transfer
its rights under this Agreement to any subsidiary or Affiliate of the Company and no sublicense fees shall be payable in respect of such transactions. Furthermore, in the event that the sublicense granted above involves the sublicense of additional
technologies or patent rights, Penn and Company will in good faith mutually agree upon the allocation of any Sublicense Fees such that the amount of consideration payable to Penn in respect of the grant of the Sublicense is attributable to the
Patent Rights granted hereunder. Any dispute regarding the allocation of any Sublicense Fees shall be determined in accordance with Section 13.11. 

3.5 Related Definitions. The term “Sale” means any bona fide transaction for the sale, use, lease, transfer or other
disposition of a Licensed Product to a third party for which consideration is received or expected by Company or its Affiliate or sublicensee. A Sale is deemed completed at the time that Company or its Affiliate or sublicensee invoices, ships or
receives payment for a Licensed Product, whichever occurs first. The term “Quarter” means each three-month period beginning on January 1, April 1, July 1 and October 1. The term “Net
Sales” means the consideration received or expected from, or the fair market value attributable to, each Sale, less Qualifying Costs that are directly attributable to a Sale, specifically identified on an invoice or other documentation and
actually borne by Company or its Affiliates or sublicensees. For purposes of determining Net Sales, the words “fair market value” mean the cash consideration that Company or its Affiliates or sublicensees would realize from an
unrelated buyer in an arms’ length sale of an identical item sold in the same quantity and at the time and place of the transaction. The term “Qualifying Costs” means: (a) customary trade, cash and quantity discounts and
inventory management fees paid to wholesalers and distributors; (b) credits, chargebacks, retroactive price reductions, rebates, refunds or claims or returns that do not exceed the original invoice amount; (c) outbound transportation
expenses and transportation insurance premiums; (d) sales and use taxes, tariffs, customs duties, excises and other taxes and fees imposed by and indefeasibly paid to a governmental agency (other than taxes on income), (e) negotiated
payments made to private sector and government third party payors (e.g., PBMs, HMOs and PPOs) and purchasers/providers (e.g., staff model HMOs, hospitals and clinics), regardless of the payment mechanism, including without limitation rebate,
chargeback and credit mechanisms; and (f) discounts under discount prescription drug programs and reductions for coupon and voucher programs. 
 4
REPORTS AND PAYMENTS 
 4.1 Royalty Reports. Within [**] days after the end of each Quarter following the First Commercial Sale,
Company will deliver to Penn a report, certified on behalf of the Company by the chief financial officer of Company, detailing the calculation of all royalties, fees and other payments due to Penn for such Quarter. The report will include, at a
minimum, the following information for the Quarter, each listed by product, by country: (a) the number of units of Licensed Products constituting Sales; (b) the gross consideration invoiced, billed or received for Sales;
(c) Qualifying Costs, listed by category of cost; (d) Net Sales; (e) the royalties, fees and other payments owed to Penn, listed by category; and (f) the computations for any applicable currency conversions. Each royalty report
will be substantially in the form of the sample report attached as Exhibit E. 
 4.2 Payments. Company will pay all royalties due to
Penn under Section 3.2 within [**] days after the end of the Quarter in which the royalties accrued along with any diligence payments due under Section 2.4. 

  
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 4.3 Records. Company will maintain, and will cause its Affiliates and sublicensees to
maintain, complete and accurate books, records and related background information to verify Sales, Net Sales, and all of the royalties, fees, and other payments due or paid under this Agreement, as well as the various computations reported under
Section 4.1. The records for each Quarter will be maintained for at least [**] years after submission of the applicable report required under Section 4.1. 

4.4 Audit Rights. Upon reasonable prior written notice to Company, Company and its Affiliates and sublicensees will provide an
independent accounting firm designated by Penn and reasonably acceptable to Company, which independent accounting firm shall be required to enter into a reasonable confidentiality agreement with Company with access to all of the books, records, key
personnel and related background information required to conduct a review or audit of Sales, Net Sales, and all of the royalties, fees, and other payments payable under this Agreement. Access will be made available: (a) during normal business
hours; (b) in a manner reasonably designed to facilitate such review or audit without unreasonable disruption to Company’s business; and (c) no more than [**] during the Term (as defined below) and for a period of [**] years
thereafter. Penn’s independent accounting firm will disclose to Penn the discrepancies in the amounts paid by Company to Penn identified in such review or audit and such underlying books, records or background information necessary or useful in
such determination. Company will promptly pay to Penn the amount of any underpayment determined by the review or audit, plus accrued interest. If the review or audit determines that Company has underpaid any payment by [**] percent ([**]%) or more,
then Company will also promptly pay the costs and expenses of Penn and its accountants in connection with the review or audit. 
 4.5
Information Rights. In the event that, in response to a proposal from Company, Penn elects to receive equity in Company, then, thereafter, until the earlier of the closing of the Company’s initial public offering or such time as Penn, no
longer holds such equity, Company will provide to Penn, at least as frequently as the following reports are distributed to the Board of Directors or management of Company, copies of: (a) all Board and managerial reports that relate to the
Patent Rights or the Licensed Product; and (b) all business plans, projections and financial statements for Company that are distributed to the Board of Directors or management of Company to the extent the same relate to the Patent Rights or
the Licensed Product. 
 4.6 Currency. All dollar amounts referred to in this Agreement are expressed in United States dollars. All
payments will be made in United States dollars. If Company receives payment from a third party in a currency other than United States dollars for which a royalty or fee is owed under this Agreement, then (a) the payment will be converted into
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 of the Quarter in which the payment was received by Company, and (b) the conversion
computation will be documented by Company in the applicable report delivered to Penn under Section 4.1. 

  
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 4.7 Place of Payment. All payments by Company are payable to “The Trustees of the
University of Pennsylvania” and will be made to the following addresses: 
  

					
	 By ACH/Wire:
	  	 By Check (direct mail):
	  	By Check (lockbox):
	[**]	  	 The Trustees of the
 University of

Pennsylvania
 c/o Penn Center for

Innovation
 Attention: Financial

Coordinator
	  	The Trustees of the
 University of

Pennsylvania
 c/o Penn Center for

Innovation
 PO Box 785546

Philadelphia, PA
 19178-5546

 4.8 Interest. All amounts that are not paid by Company when due will accrue interest from the date due
until paid at a rate equal to [**] percent ([**]%) per month (or the maximum allowed by law, if lower). 
 5 CONFIDENTIALITY AND USE OF PENN’S NAME

 5.1 Confidentiality Agreement. If Company and Penn entered into one or more Confidential Disclosure Agreements prior to the
Effective Date, then such agreements will continue to govern the protection of confidential information under this Agreement, and each Affiliate and sublicensee of Company will be bound to Company’s obligations under such agreements. If,
however, no Confidential Disclosure Agreement has been entered into between Company and Penn prior to the Effective Date, then in connection with the execution of this Agreement, the parties will enter into a Confidential Disclosure Agreement
substantially similar to Penn’s standard form. The term “Confidentiality Agreement” means all Confidential Disclosure Agreements between the parties that remain in effect after the Effective Date. 

5.2 Other Confidential Matters. Penn is not obligated to accept any confidential information from Company, except for the reports
required by Sections 2.1, 4.1, 4.4 and 6.6. Penn, acting through its Penn Center for Innovation and finance offices, will use reasonable efforts not to disclose to any third party outside of Penn any confidential information of Company contained in
those reports other than Penn’s, accountants and advisors under appropriate confidentiality obligations, for so long as such information remains confidential. Penn will bear no responsibility for maintaining the confidentiality of any other
information of Company. 
 5.3 Use of Name. Company and its Affiliates, sublicensees, employees, and agents may not use the name,
logo, seal, trademark, or service mark (including any adaptation of them) of Penn or any Pennschool, organization, employee, student or representative, without the prior written consent of such Institution(s). 

6 TERM AND TERMINATION 
 6.1 Term.
This Agreement will commence on Effective Date and terminate upon expiration or abandonment of the last patent or patent application to expire or become abandoned of the Patent Rights (the “Term”). 

6.2 Early Termination by Company. Company may terminate this Agreement at any time effective upon completion of each of the following
conditions: (a) providing at least sixty (60) days’ prior written notice to Penn of such intention to terminate; (b) ceasing to make, have 

  
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made, use, import, offer for sale and sell all Licensed Products; (c) terminating all sublicenses and causing all Affiliates and sublicensees to cease making, having made, using, importing,
offering for sale and selling all Licensed Products; and (d) paying all amounts then owed to Penn, as applicable, under this Agreement and any Sponsored Research Agreement between Company, through the effective date of termination. 

6.3 Early Termination by Penn. Penn may terminate this Agreement if: (a) Company is more than [**] days late in paying to Penn,, as
applicable, any amounts owed under this Agreement and does not pay Penn, as applicable, in full, including accrued interest, within [**] days following written notice of such payment default (a “Payment Default”); (b) other than a
Payment Default, Company or its Affiliate or sublicensee breaches this Agreement and does not cure the breach within [**] days after written notice of the breach; or (c) Company or its Affiliate or sublicensee experiences a Trigger Event. 

6.4 Trigger Event. The term “Trigger Event” means any of the following: (a) in the event that Penn receives equity
in Company under this Agreement, a material default by Company under any Equity Document, to the extent applicable, that is not cured within any cure period specified in the Equity Document(s), or within thirty (30) days of written notice, if
no cure period is specified; (b) Company (i) becomes insolvent, bankrupt or generally fails to pay its debts as such debts become due, (ii) is adjudicated insolvent or bankrupt, (iii) admits in writing its inability to pay its
debts, (iv) suffers the appointment of a custodian, receiver or trustee for it or its property and, if appointed without its consent, such appointment is not discharged within thirty (30) days, (v) makes an assignment for the benefit
of creditors, or (vi) suffers proceedings being instituted against it under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or release of debtors and, if contested by it, not dismissed or stayed within
ten (10) days; (c) the institution or commencement by Company or its Affiliates of any proceeding under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or release of debtors; (d) the entering
of any order for relief relating to any of the proceedings described in Section 6.4(b) or (c) above; (e) the calling by Company or its Affiliates of a meeting of its creditors with a view to arranging a composition or adjustment of
its debts; (f) the act or failure to act by Company or its Affiliates indicating its consent to, approval of or acquiescence in any of the proceedings described in Section 6.4(b) – (c) above; (g) dissolution of Company; or
(h) the commencement by Company of any action against Penn, including an action for declaratory judgment, to declare or render invalid or unenforceable the Patent Rights, or any claim thereof. 

6.5 Effect of Termination. Upon the termination of this Agreement for any reason: (a) the License terminates; (b) Company and,
subject to Section 1.5(c), all its Affiliates and sublicensees will cease all making, having made, using, importing, offering for sale and selling all Licensed Products, except to extent permitted by Section 6.6; (c) Company will pay
to Penn all amounts, including accrued interest, owed to Penn under this Agreement related to the Patent Rights, through the date of termination, including royalties on Licensed Products invoiced or shipped through the date of termination and any
sell off period permitted by Section 6.6, whether or not payment is received prior to termination or expiration of the sell off period permitted by Section 6.6; (d) Company will, at Penn’s request, return to Penn all confidential
information of Penn; and (e) in the case of termination under Section 6.3, all duties of Penn and all rights (but not duties) of Company under this Agreement immediately terminate without further action required by either Penn or Company.

  
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 6.6 Inventory & Sell Off. Upon the termination of this Agreement for any reason,
Company will cause physical inventories to be taken immediately of: (a) all completed Licensed Products on hand under the control of Company or its Affiliates or sublicensees; and (b) such Licensed Products as are in the process of
manufacture and any component parts on the date of termination of this Agreement. Company will deliver promptly to Penn a copy of the written inventory, certified by an officer of the Company. Upon termination of this Agreement for any reason,
Company will promptly remove, efface or destroy all references to Penn from any advertising, labels, web sites or other materials used in the promotion of the business of Company or its Affiliates or sublicensees, and Company and its Affiliates and
sublicensees will not represent in any manner that it has rights in or to the Patent Rights or the Licensed Products. Upon the termination of this Agreement for any reason other than pursuant to Section 6.3, Company may sell off its inventory
of Licensed Products existing on the date of termination for a period of [**] months and pay Penn royalties on Sales of such inventory within [**] days following the expiration of such [**] month period. 

6.7 Survival. Company’s obligation to pay all amounts, including accrued interest, owed to Penn under this Agreement will survive
the termination of this Agreement for any reason. Sections 13.6, 13.9, 13.10 and 13.11 and Articles 4, 5, 6, 9, 10 and 11 will survive the termination of this Agreement for any reason in accordance with their respective terms. 

7 PATENT PROSECUTION AND MAINTENANCE 
 7.1
Patent Control. Penn controls the preparation, prosecution and maintenance of the Patent Rights and the selection of patent counsel, with input from Company. For purposes of this Article 7, the word “maintenance” includes any
interference negotiations, claims, or proceedings, in any forum, brought by Penn, Company, a third party, or the United States Patent and Trademark Office relating to the Patent Rights, and any requests by Penn or Company that the United States
Patent and Trademark Office reexamine or reissue any patent in the Patent Rights. 
 7.2 Payment and Reimbursement. Within [**] days
after the Effective Date, Company will reimburse Penn for all historically accrued attorneys fees, expenses, official fees and all other charges accumulated prior to the Effective Date incident to the preparation, filing, prosecution and maintenance
of the Patent Rights, which as of the date hereof are approximately $[**]. Company will reimburse Penn for all documented attorneys’ fees, expenses, official fees and all other charges accumulated on or after the Effective Date incident to the
preparation, filing, prosecution, and maintenance of the Patent Rights, within [**] days after Company’s receipt of invoices for such fees, expenses and charges. Penn reserves the right to require the Company to provide a deposit in advance of
incurring out of pocket patent expenses estimated by counsel to exceed $[**]. If Company fails to reimburse patent expenses under Section 7.2, or provide a requested deposit with respect to a Patent Right, then Penn will be free at its
discretion and expense to either abandon such applications or patents related to such Patent Right or to continue such preparation, prosecution and/or maintenance activities, and any patent rights associated with such patent action will be
automatically excluded from the term “Patent Rights” hereunder, on a patent by patent or country by country basis, as applicable. 

  
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 8 INFRINGEMENT 

8.1 Notice. Company and Penn will notify each other promptly of any infringement of the Patent Rights that may come to their attention.
Company and Penn will consult each other in a timely manner concerning any appropriate response to the infringement. Except as provided under Section 8.2, Penn shall have the sole right to determine any appropriate response to the infringement.

 8.2 Prosecution of Infringement. During such time as Company is the sole licensee under the Patent Rights, Company may prosecute
any infringement of the Patent Rights at Company’s expense, including defending against any counterclaims or cross claims brought by any party against Company or Penn regarding the Patent Rights and defending against any claim that the Patent
or Patent Rights are invalid in the course of any infringement action or in a declaratory judgment action. Penn reserves the right to intervene voluntarily and join Company in any such infringement litigation. If Penn chooses not to intervene
voluntarily, but Penn is a necessary party to the action brought by Company, then Company may join Penn in the infringement litigation. If Company decides not to prosecute any infringement of the Patent Rights, then Penn may elect to prosecute such
infringement independently of Company in Penn’s sole discretion. 
 8.3 Cooperation. In any litigation under this Article 8,
either party, at the request and sole expense of the other party, will cooperate to the fullest extent reasonably possible. This Section 8.3 will not be construed to require either party to undertake any activities, including legal discovery,
at the request of any third party, except as may be required by lawful process of a court of competent jurisdiction. If, however, either party is required to undertake any activity, including legal discovery, in any litigation or potential
litigation (other than litigation or potential litigation to which Penn is a voluntary party) brought by, or otherwise related to Company in accordance with this Article 8 as a right of lawful process of a court of competent jurisdiction, then,
subject to Section 8.4, Company will pay all expenses incurred by Penn in undertaking such required activities. 
 8.4 Control of
Litigation. Company may control any litigation or potential litigation involving the prosecution of infringement claims regarding the Patent Rights in which Penn is not a party, including the selection of counsel, all with input from Penn,
provided that Company is the sole licensee under the Patent Rights. Penn controls any litigation or potential litigation involving the prosecution of infringement claims regarding the Patent Rights in all other instances, including where Penn has
elected to prosecute the infringement independently of Company or has voluntarily or involuntarily joined Company in the infringement litigation, including the selection of counsel, all with input from Company. Company must not settle or compromise
any such litigation in a manner that imposes any obligations or restrictions on Penn or grants any rights to the Patent Rights, other than any permitted sublicenses, without Penn’s prior written permission. In all instances in which Penn is a
party, Penn reserves the right to select its own counsel. If Penn is involuntarily joined as a party, Penn may elect to be represented by Company’s counsel at Company’s expense if Company is a party to such litigation or potential
litigation and retains the right to select its own counsel, but will be responsible for all litigation expenditures with respect to any such separate representation as set forth in Section 8.5; provided that if in any litigation or potential
litigation brought by, or otherwise related to, Company, its Affiliates or sublicensees, the interests of Penn and Company are so adverse as to prohibit counsel from jointly representing Penn and Company, Company shall be responsible for all
litigation expenditures of such separate representation of Penn. 

  
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 8.5 Recoveries from Litigation. If Company prosecutes any infringement claims either
without Penn as a party or with Penn involuntarily joined as a party, then Company will reimburse Penn for Penn’s litigation expenditures, including any attorneys’ fees, expenses, official fees and other charges incurred by Penn, even if
there are no financial recoveries from the infringement action. Company will reimburse Penn within [**] days after receiving each invoice from Penn. After reimbursing Penn for its expenditures, Company will use the financial recoveries from such
claims, if any, (a) first, to reimburse Company for its litigation expenditures; and (b) second, shared Company [**] percent ([**]%) and Penn [**] percent ([**]%). If Company prosecutes any infringement claims with Penn joined as a
voluntary party, then any financial recoveries from such claims will be (x) first, shared between Company and Penn in proportion with their respective shares of the aggregate litigation expenditures by Company and Penn; and (y) second,
shared equally by Company and Penn as to any remainder after Company and Penn have fully recovered their aggregate litigation expenditures. If Penn prosecutes any infringement claims independent of Company, then Penn will prosecute such infringement
at Penn’s expense, will reimburse Company for Company’s litigation expenditures, including any attorney’s fees, expenses, official fees and other charges to the extent incurred by Company in cooperating with Penn at Penn’s
request in prosecuting such claims and will retain the balance of any financial recoveries in their entirety. 
 9 DISCLAIMER OF WARRANTIES 

9.1 Disclaimer. THE PATENT RIGHTS, LICENSED PRODUCTS AND ANY OTHER TECHNOLOGY LICENSED UNDER THIS AGREEMENT ARE PROVIDED ON AN “AS
IS” BASIS. PENN MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF ACCURACY, COMPLETENESS, PERFORMANCE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, COMMERCIAL UTILITY, NON-INFRINGEMENT OR TITLE. 
 10. LIMITATION OF LIABILITY 

10.1 Limitation of Liability. PENN WILL NOT BE LIABLE TO COMPANY, ITS AFFILIATES, SUBLICENSEES, SUCCESSORS OR ASSIGNS, OR ANY THIRD
PARTY WITH RESPECT TO ANY CLAIM: ARISING FROM COMPANY’S OR ITS AFFILIATES’ OR SUBLICENSEES’ USE OF THE PATENT RIGHTS, LICENSED PRODUCTS OR ANY OTHER TECHNOLOGY LICENSED UNDER THIS AGREEMENT; OR ARISING FROM THE DEVELOPMENT, TESTING,
MANUFACTURE, USE OR SALE OF LICENSED PRODUCTS. PENN WILL NOT BE LIABLE TO COMPANY, ITS AFFILIATES, SUBLICENSEES, SUCCESSORS OR ASSIGNS, OR ANY THIRD PARTY FOR LOST PROFITS, BUSINESS INTERRUPTION, OR INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES OF ANY
KIND. EXCEPT FOR COMPANY’S INDEMNIFICATION OBLIGATIONS UNDER ARTICLE 11 OF THIS AGREEMENT, COMPANY WILL NOT BE LIABLE TO PENN, CU, OR UFLA OR TO ANY THIRD PARTY, FOR ANY LOST PROFITS, BUSINESS INFORMATION OR INDIRECT, SPECIAL OR CONSEQUENTIAL
DAMAGES OF ANY KIND. 

  
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 11. INDEMNIFICATION 

11.1 Indemnification. Company will defend, indemnify, and hold harmless each Indemnified Party from and against any and all Liabilities
with respect to an Indemnification Event. The term “Indemnified Party” means each of Penn and its trustees, officers, faculty, students, employees, contractors, and agents. The term “Liabilities” means all damages,
awards, deficiencies, settlement amounts, defaults, assessments, fines, dues, penalties, costs, fees, liabilities, obligations, taxes, liens, losses, lost profits and expenses (including, but not limited to, court costs, interest and reasonable fees
of attorneys, accountants and other experts) that are incurred by an Indemnified Party or awarded or otherwise required to be paid to third parties by an Indemnified Party. The term “Indemnification Event” means (a) any Claim
by a third party against one or more Indemnified Parties arising out of or resulting from the development, testing, use, manufacture, promotion, sale or other disposition of any Patent Rights or Licensed Products by Company, its Affiliates,
sublicensees, assignees or vendors or third parties, including, but not limited to, (x) any product liability or other Claim of any kind related to use by a third party of a Licensed Product, (y) any Claim by a third party that the
practice of any of the Patent Rights or the design, composition, manufacture, use, sale or other disposition of any Licensed Product infringes or violates any patent, copyright, trade secret, trademark or other intellectual property right of such
third party, and (z) any Claim by a third party relating to clinical trials or studies for Licensed Products; (b) any Claim by a third party against one or more Indemnified Parties arising out of or resulting from any material breach of
this Agreement by Company or its Affiliates or sublicensees; and (c) the enforcement of this Article 11 by any Indemnified Party. The term “Claim” means any charges, complaints, actions, suits, proceedings, hearings,
investigations, claims or demands. 
 11.2 Reimbursement of Costs. Company will pay directly all Liabilities incurred for defense or
negotiation of any Claim pursuant to this Article 11 or will reimburse Penn for all documented Liabilities incident to the defense or negotiation of any Claim pursuant to this Article 11 within [**] days after Company’s receipt of invoices for
such fees, expenses and charges. 
 11.3 Control of Litigation. Company controls any litigation or potential litigation involving the
defense of any Claim pursuant to this Article 11, including the selection of counsel, with input from Penn. Penn reserves the right to protect its interest in defending against any Claim pursuant to this Article 11 by selecting its own counsel, with
any attorneys’ fees and litigation expenses paid for by Company, pursuant to Sections 11.1 and 11.2 unless Penn takes such action due to a conflict of interest that makes separate representation of Penn and Company necessary, in which case
Company will pay such attorneys’ fees and litigation expenses. 
 11.4 Other Provisions. Company will not settle or compromise
any Claim pursuant to this Article 11 giving rise to Liabilities in any manner that imposes any restrictions or obligations on Penn or grants any rights to the Patent Rights or the Licensed Products, other than permitted sublicenses, without
Penn’s prior written consent. If Company fails or declines to assume the defense of any Claim pursuant to this Article 11 within [**] days after notice of such Claim, or fails to reimburse an Indemnified Party for any Liabilities pursuant to
Sections 11.1 and 11.2 within the [**] day time period set forth in Section 11.2, then Penn may assume the defense of such Claim for the account and at the risk of Company. The indemnification rights of the Indemnified Parties under this
Article 11 are in addition to all other rights that an Indemnified Party may have at law, in equity or otherwise. 

  
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 12. INSURANCE 

12.1 Coverages. Company will procure and maintain insurance policies for coverages with respect to personal injury, bodily injury and
property damage arising out of Company’s performance under this Agreement and reasonably adequate to fulfill any potential obligation to the Indemnified Party but not less than: (a) during the Term, comprehensive general liability,
including broad form and contractual liability, in a minimum amount of $[**] per occurrence and $[**] in the aggregate; (b) prior to the commencement of clinical trials involving Licensed Products, clinical trials coverage in a minimum amount
of $[**] combined single limit per occurrence and in the aggregate; and (c) prior to the Sale of the first Licensed Product, product liability coverage, in a minimum amount of $[**] combined single limit per occurrence and in the aggregate. The
required minimum amounts of insurance do not constitute a limitation on Company’s liability or indemnification obligations to Penn under this Agreement. 

12.2 Other Requirements. The policies of insurance required by Section 12.1 will be issued by an insurance carrier with an A.M.
Best rating of “A” or better and will name Penn as an additional insured with respect to Company’s performance under this Agreement. Company will provide Penn with insurance certificates evidencing the required coverage within [**]
days after the Effective Date and the commencement of each policy period and any renewal periods. Each certificate will provide that the insurance carrier will notify Penn in writing at least [**] days prior to the cancellation or material change in
coverage. 
 13. ADDITIONAL PROVISIONS 

13.1 Independent Contractors. The parties are independent contractors. Nothing contained in this Agreement is intended to create an
agency, partnership or joint venture between the parties. At no time will either party make commitments or incur any charges or expenses for or on behalf of the other party. 

13.2 No Discrimination. Neither Penn nor Company will discriminate against any employee or applicant for employment because of race,
color, sex, sexual or affectional preference, age, religion, national or ethnic origin, handicap, or veteran status. 
 13.3 Compliance
with Laws. Company must comply with all prevailing laws, rules and regulations that apply to its activities or obligations under this Agreement. For example, Company will comply with applicable United States export laws and regulations. The
transfer of certain technical data and commodities may require a license from the applicable agency of the United States government and/or written assurances by Company that Company will not export data or commodities to certain foreign countries
without prior approval of the agency. Penn does not represent that no license is required, or that, if required, the license will issue. 

13.4 Modification, Waiver & Remedies. This Agreement may only be modified by a written amendment that is executed by an
authorized representative of each party. Any waiver must be express and in writing. No waiver by either party of a breach by the other party will constitute a waiver of any different or succeeding breach. Unless otherwise specified, all remedies are
cumulative. 
 13.5 Assignment & Hypothecation. Company may not assign this Agreement or any part of it, either directly or
by merger or operation of law, without the prior written consent of Penn, provided that Company may assign this Agreement to an Affiliate, or to a third party that is an entity that (together with its affiliates) had one billion U.S. dollars or more
in worldwide 

  
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drug product revenues in the calendar year most recently completed as of the date of such assignment in connection with a sale or transfer of all or substantially all of Company’s business
or assets, provided that: (a) the assignee agrees in writing to be legally bound by this Agreement and to deliver to Penn an updated Development Plan within [**] days after the closing of the proposed transaction; (b) Company provides Penn
with a copy of assignee’s undertaking ; and (c) Company is not in breach under the terms and conditions of, and has paid all amounts owed to Penn under, this Agreement as of the date of such assignment. Any permitted assignment will not
relieve Company of responsibility for performance of any obligation of Company that has accrued at the time of the assignment. Company will not grant a security interest in the License or this Agreement during the Term, except in connection with a
royalty sale or similar royalty monetization transaction. Any prohibited assignment or security interest will be null and void. 
 13.6
Notices. Any notice or other required communication (each, a “Notice”) must be in writing, addressed to the party’s respective notice address listed on the signature page, and delivered: (a) personally; (b) by
certified mail, postage prepaid, return receipt requested; (c) by recognized overnight courier service, charges prepaid; or (d) by facsimile. A Notice will be deemed received: if delivered personally, on the date of delivery; if mailed,
five (5) days after deposit in the United States mail; if sent via courier, one (1) business day after deposit with the courier service; or if sent via facsimile, upon receipt of confirmation of transmission provided that a confirming copy
of such Notice is sent by certified mail, postage prepaid, return receipt requested. 
 13.7 Severability & Reformation. If
any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, then the remaining provisions of this Agreement will remain in full force and effect. Such invalid or unenforceable provision will be
automatically revised to be a valid or enforceable provision that comes as close as permitted by law to the parties’ original intent. 

13.8 Headings & Counterparts. The headings of the articles and sections included in this Agreement are inserted for convenience
only and are not intended to affect the meaning or interpretation of this Agreement. This Agreement may be executed in several counterparts, all of which taken together will constitute the same instrument. 

13.9 Governing Law. This Agreement will be governed in accordance with the laws of the Commonwealth of Pennsylvania, without giving
effect to the conflict of laws provisions. 
 13.10 Dispute Resolution. If a dispute arises between the parties concerning any right
or duty under this Agreement, then the parties will confer, as soon as practicable, in an attempt to resolve the dispute. If the parties are unable to resolve the dispute amicably, then the parties will submit to the exclusive jurisdiction of, and
venue in, the state and Federal courts located in the Eastern District of Pennsylvania with respect to all disputes arising under this Agreement. 

13.11 Arbitration. The parties hereby agree that in the event the parties are unable to resolve a dispute relating to the allocation of
Sublicense Fees or related to Failure, the parties will, upon the written request of either party, submit such dispute to binding arbitration under the Rules of Arbitration of International Chamber of Commerce (“ICC”). Unless the
parties agree otherwise, the number of arbitrators shall be three, and all three shall be independent, neutral, and experienced in the pharmaceutical and biotechnology industries. One such arbitrator shall be appointed by each party within [**]
business days of the initiation of arbitration under this 

  
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Agreement, and the third such arbitrator shall be selected by mutual agreement of the two such arbitrators selected by the parties. To the extent three such arbitrators are not selected
within [**] days of the initiation of arbitration hereunder, such arbitrators shall be appointed by the International Court of Arbitration of the ICC. The place of arbitration will be Philadelphia, Pennsylvania. The language of the
arbitration will be in English. Prior to the commencement of hearings, each of the arbitrators appointed must provide an oath of undertaking of impartiality. Judgment upon the award rendered by the arbitrators may be entered into any court
having competent jurisdiction. The cost of any such arbitration will be divided equally between the parties, with each party bearing its own attorneys’ fees and costs. The arbitration proceedings and the decision of the arbitrators
will be kept confidential by the parties and the arbitrators. Such arbitration shall be a “baseball” type arbitration, meaning that, following all permitted discovery and in accordance with procedures otherwise determined by the
arbitrators, each party shall prepare a written report setting forth its final position with respect to the substance of the dispute and the arbitrators shall then select one of the party’s positions as his or her final decision. The
arbitrators shall not have authority to render any substantive decision other than to so select the position of either Penn or Company.

13.12 Integration. This Agreement with its Exhibits contains the entire agreement between the parties with respect to the Patent Rights
and the License and supersedes all other oral or written representations, statements, or agreements with respect to such subject matter. 

13.13 Press Release. Promptly upon execution of this Agreement, the Company and Penn will issue a press release as mutually agreed upon
by the parties. 
 [Remainder of Page Intentionally Blank- Signatures on Following Page] 

Each party has caused this Agreement to be executed by its duly authorized representative. 

 

									
	 THE TRUSTEES OF THE

UNIVERSITY OF PENNSYLVANIA
	 		 	SPARK THERAPEUTICS, INC.
					
	By:	 	/s/ John S. Swartley	 		 	By:	 	/s/ Jeffrey D. Marrazzo
	Name:	 	John S. Swartley, PhD	 		 	Name:	 	Jeffrey D. Marrazzo
	Title:	 	Executive Director,	 		 	Title:	 	Co-Founder and CEO
		 	Penn Center for Innovation	 		 		 	

  

									
	Address:	 	Penn center for Innovation	 		 	Address:
		 	University of Pennsylvania	 	        	 	3737 Market Street, Suite 1300
		 	3160 Chestnut Street, Suite 200	 		 	Philadelphia, PA 19104
		 	Philadelphia, PA 19104-6283	 		 	
		 	Attention: Executive Director	 		 	            	 	

  

			
	Required copy to:	  	University of Pennsylvania
		  	Office of General Counsel
		  	133 South 36th Street, Suite 300
		  	Philadelphia, PA 19104-3246
		  	Attention: General Counsel

  
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 EXHIBIT INDEX 
  

			
		
	Exhibit A	  	Patents and Patent Applications in Patent Rights
		
	Exhibit B	  	Minimum Contents of Development Plan
		
	Exhibit C	  	Common Stock Purchase and Restricted Stock Agreement
		
	Exhibit D	  	Adoption Agreement to Voting Agreement
		
	Exhibit E	  	Format of Royalty Report

  
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 Exhibit A 

Patents and Patent Applications in Patent Rights 
  

																									
	 Tech ID: X5873

Serial No.
	  	Patent
No.	 	 	App Type	 	 	File Date	 	 	Status	 	 	Country	 	 	Issue Date	 
	 [**]
	  	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 
	 [**]
	  	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 
	 [**]
	  	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 	 	 	[	**] 

  
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 Exhibit B 

Minimum Contents of Development Plan 
 The
initial Development Plan and each update to the Development Plan will include, at a minimum, the following information: 
  

	 	•	 	The date of the Development Plan and the reporting period covered by the Development Plan. 

  

	 	•	 	Identification and nature of each active relationship between Company and its Affiliates, sublicensees or subcontractors in the research, development or commercialization of Licensed Products or Patent Rights

  

	 	•	 	Significant projects completed during the reporting period by Company or its Affiliates, sublicensees or subcontractors in the research, development or commercialization of Licensed Products or Patent Rights.

  

	 	•	 	Significant projects currently being performed by Company or its Affiliates, sublicensees or subcontractors in the research, development or commercialization of Licensed Products or Patent Rights. 

 

	 	•	 	Future projects expected to be undertaken during the next reporting period by Company or its Affiliates, sublicensees or subcontractors in the research, development or commercialization of Licensed Products or Patent
Rights. 

  

	 	•	 	Projected timelines to product launch of each Licensed Product prior to first Sale. 

  

	 	•	 	Projected annual Net Sales for each Licensed Product after first Sale. 

  

	 	•	 	Significant changes to the current Development Plan since the previous Development Plan and the reasons for the changes. 

  

	 	•	 	Significant assumptions underlying the Development Plan and the future variables that may cause significant changes to the Development Plan. 

 

	 	•	 	Copies of all reports required by Section 4.1 of this Agreement that have not already been delivered to Penn. 

  
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 Exhibit C 

  
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 COMMON STOCK ISSUANCE 

AND RESTRICTED STOCK AGREEMENT 

THIS COMMON STOCK ISSUANCE AND RESTRICTED STOCK AGREEMENT (this “Agreement”) is made as of the 2nd day of December, 2014 by and among Spark Therapeutics, Inc., a Delaware corporation (the “Company”), and The Trustees of the University of Pennsylvania, a Pennsylvania non-profit
corporation (the “Purchaser”). 
 WHEREAS, the Purchaser possesses certain patent rights, technology and expertise with
respect to a proviral plasmid (the “Plasmid”) that may be useful in the manufacture of Company’s gene therapy product candidates for the treatment of Choroideremia (“CHM”); 

WHEREAS, the Company is focused on developing product candidates treating a variety of genetic disesases, including CHM; and 

WHEREAS, the Company and the Purchaser are entering into an Exclusive License Agreement (the “License Agreement”) on the date
hereof, pursuant to which the Company will (i) obtain certain rights to, among other things, the Plasmid from the Purchaser, and (ii) issue the Purchaser shares of its Common Stock, par value $0.001 per share (the “Common
Stock”) in accordance with the terms of this Agreement, which shares of Common Stock will be subject to forfeiture as set forth in this Agreement. Unless otherwise defined herein, capitalized terms shall have their respective meanings as
set forth in the License Agreement. 
 The parties hereby agree as follows: 

1. Issuance of Common Shares; Closing. 

1.1 On or prior to the Closing, the Company shall have authorized the issuance to the Purchaser of one million (1,000,000) shares of
Common Stock (the “Shares”) in accordance with the terms of this Agreement. 
 1.2 The issuance of the Shares shall take
place remotely via the exchange of documents and signatures, at 10:00 a.m., on December 2, 2014, or at such other time and place as the Company and the Purchaser mutually agree upon, orally or in writing (which time and place is designated as
the “Closing”). At the Closing and in consideration of the execution and delivery of the License Agreement by the Purchaser to the Company, the Company shall issue to the Purchaser a certificate in the name of the Purchaser for the
Shares. The Purchaser agrees that the Shares shall be subject to the restrictions on transfer set forth in Section 4 of this Agreement and shall be subject to forfeiture in accordance with the vesting schedule outlined in Section 7 hereof.
At the Closing, Purchaser shall executed and deliver to Company the Adoption Agreement to that certain Voting Agreement, dated May 23, 2014, by and among the Company and stockholders of the Company (the “Voting Agreement”).

 2. Representations and Warranties of the Company. The Company hereby represents and warrants to each Purchaser that the following
representations are true and complete as of the date of the Closing. 
 2.1. Organization, Good Standing, Corporate Power and
Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted or
proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure so to qualify would have a material adverse effect. 

2.2. Capitalization. The authorized capital stock of the Company consists, immediately prior to the execution of this Agreement, of:
95,700,000 shares of Common Stock, 30,451,611 shares of which are issued and outstanding; 5,000,000 shares of Preferred Stock have been designated Series A Preferred Stock, all of which are issued and outstanding; 45,186,334 shares of Preferred
Stock have been designated Series B Preferred Stock, all of which are issued and outstanding. All of the outstanding shares of capital stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all
applicable federal and state securities laws. The Company has reserved 12,716,496 shares of Common Stock for issuance to officers, directors, employees and consultants of the Company pursuant to its 2014 Stock Incentive Plan. Of such reserved shares
of 

  
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Common Stock, as of November 30, 2014, 10,043,002 options to purchase shares have been granted and are currently outstanding, and 2,327,062 shares of Common Stock remain available for
issuance to officers, directors, employees and consultants pursuant to the 2014 Stock Incentive Plan. 
 2.3. Authorization. All
corporate action required to be taken by the Company’s Board of Directors and stockholders in order to authorize the Company to enter into this Agreement, and to issue the Shares at the Closing, has been taken or will be taken prior to the
Closing. All action on the part of the officers of the Company necessary for the execution and delivery of this Agreement, the performance of all obligations of the Company under this Agreement to be performed as of the Closing, and the issuance of
the Shares has been taken or will be taken prior to the Closing. This Agreement, when executed and delivered by the Company, shall constitute valid and legally binding obligation of the Company, enforceable against the Company in accordance with its
terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, or
(ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 
 2.4.
Valid Issuance of Shares. The Shares, when issued and sold in accordance with the terms and for the consideration set forth in this Agreement, will be validly issued and free of restrictions on transfer other than restrictions on transfer
under this Agreement, applicable state and federal securities laws and liens or encumbrances created by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in Section 3 of this Agreement and subject
to the applicable governmental filings with respect to the transactions contemplated by this Agreement, the Shares will be issued in compliance with all applicable federal and state securities laws. 

3. Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to the Company that: 

3.1. Authorization. The Purchaser has full power and authority to enter into this Agreement. When executed and delivered by the
Purchaser, this Agreement shall constitute valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, or (ii) as limited by laws relating to the availability of specific performance, injunctive
relief, or other equitable remedies. 
 3.2. Purchase Entirely for Own Account. This Agreement is made with the Purchaser in reliance
upon the Purchaser’s representation to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Shares to be acquired by the Purchaser will be acquired for investment for the
Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the
same. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or to any
third Person, with respect to any of the Shares. The Purchaser has not been formed for the specific purpose of acquiring the Shares. 
 3.3.
Disclosure of Information. The Purchaser has had an opportunity to discuss the Company’s business, management, financial affairs and the terms and conditions of the offering of the Shares with the Company’s management. The
foregoing, however, does not limit or modify the representations and warranties of the Company in Section 2 of this Agreement or the right of the Purchaser to rely thereon. 

  
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 3.4. Restricted Securities. The Purchaser understands that the Shares have not been, and
will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona
fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser understands that the Shares are “restricted securities” under applicable U.S. federal and state securities
laws and that, pursuant to these laws, the Purchaser must hold the Shares indefinitely unless they are registered with the Securities and Exchange Commission and qualified by state authorities, or an exemption from such registration and
qualification requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify the Shares, or the Shares into which it may be converted, for resale. The Purchaser further acknowledges that if an
exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Shares, and on requirements relating to the Company which
are outside of the Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy. 
 3.5. No
Public Market. The Purchaser understands that no public market now exists for the Shares, and that the Company has made no assurances that a public market will ever exist for the Shares. 

3.6. Accredited Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the
Securities Act. 
 3.7. No General Solicitation. Neither the Purchaser, nor any of its officers, managers, employees, agents,
stockholders or partners has either directly or indirectly, including through a broker or finder (a) engaged in any general solicitation, or (b) published any advertisement in connection with the offer and sale of the Shares. 

4. Right of First Refusal. 

4.1. If the Purchaser proposes to sell, assign, transfer, pledge, hypothecate or otherwise dispose of, by operation of law or otherwise
(collectively, “transfer”) any Shares, then the Purchaser shall first give written notice of the proposed transfer (the “Transfer Notice”) to the Company. The Transfer Notice shall name the proposed transferee and
state the number of such Shares the Purchaser proposes to transfer (the “Offered Shares”), the price per share and all other material terms and conditions of the transfer. 

4.2. For 30 days following its receipt of such Transfer Notice, the Company shall have the option to purchase all or part of the Offered Shares
at the price and upon the terms set forth in the Transfer Notice. In the event the Company elects to purchase all or part of the Offered Shares, it shall give written notice of such election to the Purchaser within such 30-day period. Within 10 days
after the Purchaser’s receipt of such notice, the Purchaser shall tender to the Company at its principal offices the certificate or certificates representing the Offered Shares to be purchased by the Company, duly endorsed in blank by the
Purchaser or with duly endorsed stock powers attached thereto, all in a form suitable for transfer of the Offered Shares to the Company. Promptly following receipt of such certificate or certificates, the Company shall deliver or mail to the
Purchaser a check in payment of the purchase price for such Offered Shares; provided that if the terms of payment set forth in the Transfer Notice were other than cash against delivery, the Company may pay for the Offered Shares on the same terms
and conditions as were set forth in the Transfer Notice; and provided further that any delay in making such payment shall not invalidate the Company’s exercise of its option to purchase the Offered Shares. 

4.3. If the Company does not elect to acquire any of the Offered Shares, the Purchaser may, within the 30-day period following the expiration
of the option granted to the Company under Subsection 4.2 above, transfer the Offered Shares which the Company has not elected to acquire to the proposed transferee; provided that such transfer shall not be on terms and conditions more favorable to

  
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the transferee than those contained in the Transfer Notice. Notwithstanding any of the above, all Offered Shares transferred pursuant to this Section 4 shall remain subject to this Agreement
(including without limitation the right of first refusal set forth in this Section 4) and such transferee shall, as a condition to such transfer, deliver to the Company a written instrument confirming that such transferee shall be bound by all
of the terms and conditions of this Agreement. 
 4.4. After the time at which the Offered Shares are required to be delivered to the Company
for transfer to the Company pursuant to Subsection 4.2 above, the Company shall not pay any dividend to the Purchaser on account of such Offered Shares or permit the Purchaser to exercise any of the privileges or rights of a stockholder with respect
to such Offered Shares, but shall, insofar as permitted by law, treat the Company as the owner of such Offered Shares. 
 4.5. The following
transactions shall be exempt from the provisions of this Section 4: 
 (a) any transfer pursuant to an effective registration statement
filed by the Company under the Securities Act; and 
 (b) the sale of all or substantially all of the outstanding shares of capital stock,
assets or business of the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially all of the individuals and entities who were beneficial owners of the Company’s voting
securities immediately prior to such transaction beneficially own, directly or indirectly, more than 75% (determined on an as-converted basis) of the outstanding securities entitled to vote generally in the election of directors of the resulting,
surviving or acquiring corporation in such transaction). 
 4.6. THE COMPANY MAY ASSIGN ITS RIGHTS TO PURCHASE OFFERED SHARES IN ANY
PARTICULAR TRANSACTION UNDER THIS SECTION 4 TO ONE OR MORE PERSONS OR ENTITIES. 
 4.7. THE PROVISIONS OF THIS SECTION 4 SHALL
TERMINATE UPON THE EARLIER OF THE FOLLOWING EVENTS: 
 (a) the closing of the sale of shares of Common Stock in an underwritten public
offering pursuant to an effective registration statement filed by the Company under the Securities Act; or 
 (b) the sale of all or
substantially all of the outstanding shares of capital stock, assets or business of the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially all of the individuals and
entities who were beneficial owners of the Company’s voting securities immediately prior to such transaction beneficially own, directly or indirectly, more than 75% (determined on an as-converted basis) of the outstanding securities entitled to
vote generally in the election of directors of the resulting, surviving or acquiring corporation in such transaction). 
 4.8. THE COMPANY
SHALL NOT BE REQUIRED (I) TO TRANSFER ON ITS BOOKS ANY OF THE SHARES WHICH SHALL HAVE BEEN SOLD OR TRANSFERRED IN VIOLATION OF ANY OF THE PROVISIONS SET FORTH IN THIS AGREEMENT, OR (II) TO TREAT AS OWNER OF SUCH SHARES OR TO PAY DIVIDENDS
TO ANY TRANSFEREE TO WHOM ANY SUCH SHARES SHALL HAVE BEEN SO SOLD OR TRANSFERRED. 
 5. Agreement in Connection with Initial Public
Offering. The Purchaser agrees, in connection with the initial underwritten public offering of the Common Stock pursuant to a registration statement under the Securities Act, (i) not to (a) offer, pledge, announce the intention to
sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, 

  
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right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for shares
of Common Stock or (b) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of shares of Common Stock, whether any transaction described in clause (a) or (b) is to
be settled by delivery of shares of Common Stock or other securities, in cash or otherwise, during the period beginning on the date of the filing of such registration statement with the Securities and Exchange Commission and ending 180 days from the
date of the final prospectus relating to the offering (plus up to an additional 34 days to the extent requested by the managing underwriters for such offering in order to address Rule 2711(f) of the Financial Industry Regulatory Authority, Inc. or
any similar or successor provision), and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering. The Company may impose stop-transfer
instructions with respect to the shares of Common Stock or other securities subject to the foregoing restriction until the end of the “lock-up” period. 

6. Restrictive Legends. All certificates representing Shares shall have affixed thereto legends in substantially the following form, in
addition to any other legends that may be required under federal or state securities laws: 
 “The shares of stock represented by this
certificate are subject to voting covenants set forth in a certain Voting Agreement between the corporation, the registered owner of these shares (or such owner’s predecessor in interest) and certain other stockholders, and restrictions on
transfer, forfeiture and certain restrictions on public resale and transfer, including a market standoff restriction, as set forth in a certain Common Stock Issuance and Restricted Stock Agreement between the corporation and the registered owner of
these shares (or such owner’s predecessor in interest), and such Agreement is available for inspection without charge at the office of the Secretary of the corporation.” 

“The shares represented by this certificate have not been registered under the Securities Act of 1933, as amended, and may not be sold,
transferred or otherwise disposed of in the absence of an effective registration statement under such Act or an opinion of counsel satisfactory to the corporation to the effect that such registration is not required.” 

7. Forfeiture of Shares; Adjustments for Stock Splits, Stock Dividends, etc. 

7.1. Termination of License Agreement. In the event that the License Agreement is terminated for any reason other than Failure of the
CHM Program, all of the Shares that are unvested (the “Unvested Shares”) on the date of such termination shall fully vest immediately and automatically. The term “Failure” shall have the meaning set forth in the License
Agreement. In the event the License Agreement is terminated as a result of a Failure of the CHM Program, fifty percent (50%) of the Unvested Shares on the date of such termination shall vest immediately and automatically and the remaining
Unvested Shares shall immediately and automatically be forfeited by Purchaser without payment by the Company therefor. Notwithstanding the foregoing, in the event that the License Agreement is not otherwise terminated on or before the tenth (10th) anniversary of the Effective Date of the License Agreement, any Unvested Shares shall fully vest immediately and automatically. 

7.2. Vesting Schedule. The Shares shall vest in accordance with the vesting schedule set forth on Exhibit A hereto. 

  
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 7.3. Stock Splits, Stock Dividends, etc. 

(a) If from time to time there is any stock split, stock dividend, stock distribution or other reclassification of the Common Stock of the
Company, any and all new, substituted or additional securities to which the Purchaser is entitled by reason of his ownership of the Shares shall be immediately subject to the vesting schedule, the restrictions on transfer and the other provisions of
this Agreement in the same manner and to the same extent as the Shares. 
 (b) Upon the occurrence of any merger or consolidation of the
Company with or into another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or any exchange of all of the Common Stock of the Company for
cash, securities or other property pursuant to a share exchange transaction, the rights of the Company hereunder shall inure to the benefit of the Company’s successor and shall apply to the cash, securities or other property which the Shares
were converted into or exchanged for pursuant to such transaction in the same manner and to the same extent as they applied to the Shares under this Agreement. If, in connection with such a transaction, a portion of the cash, securities and/or other
property received upon the conversion or exchange of the Shares is to be placed into escrow to secure indemnification or similar obligations, the mix between the vested and unvested portion of such cash, securities and/or other property that is
placed into escrow shall be the same as the mix between the vested and unvested portion of such cash, securities and/or other property that is not subject to escrow. 

7.4. Escrow. The Purchaser shall, upon the execution of this Agreement, execute Joint Escrow Instructions in the form attached to this
Agreement as Exhibit B. The Joint Escrow Instructions shall be delivered to the Secretary of the Company, as escrow agent thereunder. The Purchaser shall deliver to such escrow agent a stock assignment duly endorsed in blank, in the form
attached to this Agreement as Exhibit C, and hereby instructs the Company to deliver to such escrow agent, on behalf of the Purchaser, the certificate(s) evidencing the Shares issued hereunder. Such materials shall be held by such escrow
agent pursuant to the terms of such Joint Escrow Instructions. 
 8. Participation in Future Financing. 

8.1. The Company hereby grants Purchaser the right, but not the obligation, to purchase up to $1,000,000 (although Purchaser may in its sole
discretion elect to purchase less than such amount) of equity securities that the Company offers in its next round of preferred stock equity financing (the “New Securities”) following the date of this Agreement (a “Qualified
Financing”), at a price per share and on other terms and conditions that are no less favorable to Purchaser than those upon which the New Securities are offered or sold by the Company to any other investor in such equity financing (such right,
the “Participation Right”). Notwithstanding anything to the contrary herein, Purchaser shall not be entitled to designate a member of the Company’s Board of Directors in connection with any purchase of the New Securities. 

8.2. The Company shall offer to sell the New Securities to Purchaser by sending written notice of such offer (a “New Securities
Notice”) to Purchaser its above-referenced address; Attention: John Swartley; Fax Number (215) 898-9519. Any New Securities Notice shall describe the provisions of the New Securities in reasonable detail and shall specify the terms and
conditions upon which they shall be sold by the Company. Purchaser may purchase the applicable amount of New Securities by sending written notice to the Company of Purchaser’s election to do so within ten (10) business days after receipt
of the New Securities Notice. Any New Securities not purchased by Purchaser may thereafter be offered for sale and sold by the Company, on terms and conditions that are no less favorable to the Company than those specified in the New Securities
Notice, at any time within one hundred twenty (120) days after the expiration of Purchaser’s ten day response period. If the Company desires to sell any New Securities on terms and conditions that are less favorable to the Company than

  
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those specified in the New Securities Notice at any time within one hundred twenty (120) days within the expiration of Purchaser’s ten-day response period, The Company shall offer such
New Securities to Purchaser on the new terms and conditions pursuant to the terms hereof. The Company hereby covenants that it will not enter into any agreement that conflicts with the provisions of this Section 8. 

8.3. Term. All agreements, covenants and restrictions contained in this Section 8 will terminate immediately upon the closing of
the first to occur of (i) a underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale of Common Stock for the account of the Company to the public and
(ii) a sale of all or substantially all of the assets of the Company or the consolidation or merger of the Company, provided that the holders of the outstanding stock of the Company immediately prior to the closing of such sale, merger or
consolidation hold, immediately after such closing, less than a majority in interest of the issued and outstanding shares of voting securities (as measured by voting power) of the corporation purchasing all or substantially all of the Company’s
assets or of the corporation (including without limitation the Company) surviving or resulting from such merger or consolidation, as the case may be. 

8.4. Assignability. Purchaser shall be permitted to assign its Participation Rights contained in this Section 8 to Osage University
Partners (without any requirement to transfer the underlying Shares to Osage University Partners), provided, however, that Osage University Partners complies in all respects with the terms, conditions and provisions of this Agreement. 

9. Miscellaneous. 
 9.1.
Survival of Warranties. Unless otherwise set forth in this Agreement, the representations and warranties of the Company and the Purchaser contained in or made pursuant to this Agreement shall survive the execution and delivery of this
Agreement and the Closing and shall in no way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchaser or the Company. 

9.2. Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations,
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 9.3. Governing Law. This
Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. 

9.4. 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. Counterparts may be delivered via facsimile, electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes. 
 9.5. Titles and Subtitles. The titles and subtitles used in this Agreement
are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 9.6. Notices. All notices
and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by
electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized 

  
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overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set
forth on the signature page or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Subsection 7.6. 

9.7. No Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission in
connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction
(and the costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of its officers, employees, or representatives is responsible. The Company agrees to indemnify and hold harmless each
Purchaser from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for
which the Company or any of its officers, employees or representatives is responsible. 
 9.8. Amendments and Waivers. Any term
of this Agreement may be amended, terminated or waived only with the written consent of the Company and the Purchaser. Any amendment or waiver effected in accordance with this Subsection 7.8 shall be binding upon the Purchaser and each
transferee of the Shares, each future holder of all such Shares, and the Company. 
 9.9. Severability. The invalidity or
unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. 
 9.10. Delays or
Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such
non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on
the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded
to any party, shall be cumulative and not alternative. 
 9.11. Entire Agreement. This Agreement, the License Agreement and the Voting
Agreement constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties are
expressly canceled. 
 9.12. Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the
jurisdiction of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree
not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby waive, and agree not to
assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or
execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. 

  
 - 29 - 

 9.13. WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT
MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS
SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND
THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

  
 - 30 - 

 IN WITNESS WHEREOF, the parties have executed this Common Stock Issuance and Restricted Stock
Agreement as of the date first written above. 
  

			
	SPARK THERAPEUTICS, INC.
		
	By:	 	 /s/ Jeffrey D. Marrazzo

	Name:	 	Jeffrey D. Marrazzo
	Title:	 	Co-Founder and CEO

  

			
	Address:	 	3737 Market Street, Suite 1300
		 	Philadelphia, PA 19104

  

			
	THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
		
	By:	 	 /s/ John S. Swartley

	Name:	 	John S. Swartley, Ph.D.
	Title:	 	Associate Vice Provost for Research and
		 	Executive Director, Penn Center for Innovation

  

			
	Address:	 	Penn Center for Innovation
		 	3160 Chestnut Street, Suite
		 	200Philadelphia, Pa 19104
		 	Attention: Executive Director
		
	Required copy to:	 	
		 	University of Pennsylvania
		 	Office of General Counsel
		 	133 South 36th Street, Suite 300
		 	Philadelphia, PA 19104-3246
		 	Attention: General Counsel

  
 - 1 - 

 Exhibit A 

Vesting Schedule of Shares 
 [**]

  
 - 2 - 

 Exhibit B 

Spark Therapeutics, Inc. 

Joint Escrow Instructions 

December 2, 2014 
 Spark Therapeutics, Inc.

 3737 Market Street, Suite 1300 
 Philadelphia, PA 19104 

Attention: Secretary 
 Dear Sir: 

As Escrow Agent for Spark Therapeutics, Inc., a Delaware corporation (the “Company”), and its successors in interest under the Common
Stock Issuance and Restricted Stock Agreement (the “Agreement”) of even date herewith, to which a copy of these Joint Escrow Instructions is attached, and the undersigned entity (“Holder”), you are hereby authorized and directed
to hold the documents delivered to you pursuant to the terms of the Agreement in accordance with the following instructions: 
  

	 	1.	Appointment. Holder irrevocably authorizes the Company to deposit with you any certificates evidencing Shares (as defined in the Agreement) to be held by you hereunder and any additions and substitutions to said
Shares. For purposes of these Joint Escrow Instructions, “Shares” shall be deemed to include any additional or substitute property. Holder does hereby irrevocably constitute and appoint you as its attorney-in-fact and agent for the term of
this escrow to execute with respect to such Shares all documents necessary or appropriate to make such Shares negotiable and to complete any transaction herein contemplated. Subject to the provisions of this Section 1 and the terms of the
Agreement, Holder shall exercise all rights and privileges of a stockholder of the Company while the Shares are held by you. 

  

	 	2.	Closing of Purchase. 

  

	 	a.	Upon any purchase by the Company of the Shares pursuant to the Agreement, the Company shall give to Holder and you a written notice specifying the number of Shares to be purchased, the purchase price for the Shares, as
determined pursuant to the Agreement, and the time for a closing hereunder (the “Closing”) at the principal office of the Company. Holder and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by
such notice in accordance with the terms of said notice. 

  

	 	b.	At the Closing, you are directed (i) to date the stock assignment form or forms necessary for the transfer of the Shares, (ii) to fill in on such form or forms the number of Shares being transferred, and
(iii) to deliver the same, together with the certificate or certificates evidencing the Shares to be transferred, to the Company against the simultaneous delivery to you of the purchase price for the Shares being purchased pursuant to the
Agreement. 

  
 - 3 - 

	 	3.	Withdrawal. The Holder shall have the right to withdraw from this escrow any Shares that have vested in accordance with the terms of the Agreement. 

 

	 	4.	Duties of Escrow Agent. 

  

	 	a.	Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 

  

	 	b.	You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you
to be genuine and to have been signed or presented by the proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact of Holder while acting in good faith and in
the exercise of your own good judgment, and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 

 

	 	c.	You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or entity, excepting only orders or process of courts of law, and are hereby expressly
authorized to comply with and obey orders, judgments or decrees of any court. If you are uncertain of any actions to be taken or instructions to be followed, you may refuse to act in the absence of an order, judgment or decrees of a court. In case
you obey or comply with any such order, judgment or decree of any court, you shall not be liable to any of the parties hereto or to any other person or entity, by reason of such compliance, notwithstanding any such order, judgment or decree being
subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 

  

	 	d.	You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering or purporting to execute or deliver the Agreement or any documents or papers deposited or
called for hereunder. 

  

	 	e.	You shall be entitled to employ such legal counsel and other experts as you may deem necessary properly to advise you in connection with your obligations hereunder and may rely upon the advice of such counsel.

  

	 	f.	Your rights and responsibilities as Escrow Agent hereunder shall terminate if (i) you cease to be Secretary of the Company or (ii) you resign by written notice to each party. In the event of a termination
under clause (i), your successor as Secretary shall become Escrow Agent hereunder; in the event of a termination under clause (ii), the Company shall appoint a successor Escrow Agent hereunder. 

 

	 	g.	If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments.

  
 - 4 - 

	 	h.	It is understood and agreed that if you believe a dispute has arisen with respect to the delivery and/or ownership or right of possession of the securities held by you hereunder, you are authorized and directed to
retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of
competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 

 

	 	i.	These Joint Escrow Instructions set forth your sole duties with respect to any and all matters pertinent hereto and no implied duties or obligations shall be read into these Joint Escrow Instructions against you.

  

	 	j.	The Company shall indemnify you and hold you harmless against any and all damages, losses, liabilities, costs, and expenses, including attorneys’ fees and disbursements, (including without limitation the fees of
counsel retained pursuant to Section 4(e) above, for anything done or omitted to be done by you as Escrow Agent in connection with this Agreement or the performance of your duties hereunder, except such as shall result from your gross
negligence or willful misconduct. 

  

	 	5.	Notice. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States Post Office, by registered or
certified mail with postage and fees prepaid, addressed to each of the other parties thereunto entitled at the following addresses, or at such other addresses as a party may designate by ten days’ advance written notice to each of the other
parties hereto. 

  

			
	COMPANY:	  	Notices to the Company shall be sent to the address set forth in the salutation hereto, Attn: CEO
		
	HOLDER:	  	Notices to Holder shall be sent to the address set forth below Holder’s signature below.
		
	ESCROW AGENT:	  	Notices to the Escrow Agent shall be sent to the address set forth in the salutation hereto.

  

	 	6.	Miscellaneous. 

  

	 	a.	By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions, and you do not become a party to the Agreement. 

 

	 	b.	This instrument shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 

  
 - 5 - 

 [Remainder of Page Intentionally Left Blank] 

  
 - 6 - 

 Execution Version 

IN WITNESS WHEREOF, the parties hereto have executed these Joint Escrow Instructions as of the day and year first above written. 

 

			
	Very truly yours,
	
	 Spark Therapeutics, Inc.

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	
	
	 HOLDER:

	
	[                                    
                ]
		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

 Address: 
  

	
	ESCROW AGENT:
	
	 
	 Secretary

 Exhibit C 

(Stock Assignment Separate from Certificate) 

FOR VALUE RECEIVED, [                    ]
hereby sells, assigns and transfers
unto                                         
  (            ) shares of Common Stock, $0.            par value per share, of
[            ] (the “Corporation”) standing in its name on the books of the Corporation represented by Certificate(s) Number
            herewith, and does hereby irrevocably constitute and appoint Wilmer Cutler Pickering Hale and Dorr LLP as attorney to transfer the said stock on the books of the Corporation
with full power of substitution in the premises. 
  

	
	Dated:
	
	 
	
	Printed Name:
	
	Title:

 NOTICE: The signature(s) to this assignment must correspond with the name as written upon the face of
the certificate, in every particular, without alteration, enlargement, or any change whatever 

  
 - 8 - 

 Exhibit D 

ADOPTION AGREEMENT 
 This
Adoption Agreement (“Adoption Agreement”) is executed on December 2, 2014, by the undersigned (the “Holder”) pursuant to the terms of that certain Voting Agreement dated as of May 23, 2014 (the
“Agreement”), by and among the Company and certain of its Stockholders, as such Agreement may be amended or amended and restated hereafter. Capitalized terms used but not defined in this Adoption Agreement shall have the respective
meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, the Holder agrees as follows. 
 1.1
Acknowledgement. Holder acknowledges that Holder is acquiring certain shares of the capital stock of the Company (the “Stock”) or options, warrants, or other rights to purchase such Stock (the “Options”), for
one of the following reasons (Check the correct box): 
  

	 	 ̈	As a transferee of Shares from a party in such party’s capacity as an “Investor” bound by the Agreement, and after such transfer, Holder shall be considered an “Investor” and a
“Stockholder” for all purposes of the Agreement. 

  

	 	 ̈	As a transferee of Shares from a party in such party’s capacity as a “Key Holder” bound by the Agreement, and after such transfer, Holder shall be considered a “Key Holder” and a
“Stockholder” for all purposes of the Agreement. 

  

	 	 ̈	As a new Investor in accordance with Subsection 7.1(a) of the Agreement, in which case Holder will be an “Investor” and a “Stockholder” for all purposes of the Agreement. 

 

	 	 ̈	In accordance with Subsection 7.1(b) of the Agreement, as a new party who is not a new Investor, in which case Holder will be a “Stockholder” for all purposes of the Agreement. 

1.2 Agreement. Holder hereby (a) agrees that the Stock or Stock Options, and any other shares of capital stock or securities
required by the Agreement to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force and effect as if Holder were originally a party thereto. 

1.3 Notice. Any notice required or permitted by the Agreement shall be given to Holder at the address or facsimile number listed below
Holder’s signature hereto. 
 ACCEPTED AND AGREED: 
  

									
	THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA	  	SPARK THERAPEUTICS, INC.
				
	 By:
	 	 	  	By:	 	 
	 Name and Title of Signatory
	 	
				
	 Address: 
	 	 	  	Title:	 	 
			
	 	  		 	
				
	 Facsimile Number:
	 	 	  		 	

 Exhibit E 

Format of Royalty Report 
  

 

									
	Licensee:	 	 	 		  	Agreement #	  	 
	Inventor(s):	 	 	 		  	Patent #(s):	  	 
	Period Covered:	 		 		  	Prepared By	  	 
	From	 	 	 		  	Date	  	 
	To	 	 	 		  	Approved By	  	 
		 		 		  	Date	  	 

 If license covers several major product lines, please prepare a separate report for each line. Then combine all
product lines into a summary report. 
  

									
	Report Type:	  	 ̈	 	Single Product Line Report	  	
		  	 ̈	 	Multiple product Summary Report Page          of          pages
		  	 ̈	 	Product Line Detail:	  	Line:	  	 
		  		 		  	Trade Name	  	 
		  		 		  	Page	  	 

  

							
	Report Currency:	  	 ̈ US Dollars	  	 ̈ Other (specify)	  	 

  

																															
	 	  	 	 	  	 	 	  	 	 	  	 	  	Period Royalty Amount	 
	 Country
	  	Gross
Sales	 	  	Allowances	 	  	Net Sales	 	  	Royalty
Rate	  	This Quarter	 	  	This Year to
Date	 	  	This
Quarter -
Prior
Year	 	  	Year
to
date
Prior
Year	 
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
		  				  				  				  		  	 	0	  	  				  				  			
	 Total
	  	 	0	  	  	 	0	  	  	 	0	  	  		  	 	0	  	  	 	0	  	  	 	0	  	  	 	0	  

  

			
	Conversion rate if other than US Dollars	  	10
		
	Royalties in US Dollars

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