Document:

EX-10.24

 Exhibit 10.24 

CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED
MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 AMENDMENT NO. 2 TO 

COLLABORATIVE RESEARCH, LICENSE & COMMERCIALIZATION AGREEMENT 

DATED JANUARY 18, 2007 

By and Between 

AMBRX, INC. 

and 
 ELANCO
ANIMAL HEALTH 

 CONFIDENTIAL 

THIS AMENDMENT AGREEMENT is made on the 17th day of June, 2009 (the “Amendment Effective
Date”) by and between: 
 AMBRX, INC., a Delaware corporation (“AMBRX”), having a place of business at 10975 North Torrey
Pines Road, La Jolla, California 92037; 
 and 

ELI LILLY AND COMPANY, an Indiana corporation operation through its Elanco Animal Health division and having a principal place of business at 2001 W.
Main Street, Greenfield, Indiana 46140 (“Elanco”). 
 RECITALS: 

WHEREAS, AMBRX and Elanco entered into a Collaborative Research, License & Commercialization Agreement (Agreement), effective January 18,
2007, to collaborate on and to conduct research and development activities for commercialization of Products; 
 WHEREAS, capitalized terms used and
not otherwise defined in this Amendment are used as defined in the Collaboration Agreement. 
 NOW, THEREFORE, in consideration of the promises and
mutual covenants set forth herein, the Parties agree to amend the Agreement and agree as follows: 
  

	1.	Section 1.11 of the Agreement shall be deleted and replaced with new Section 1.11 as follows: 

1.11 “Elanco Compound” means any one or more of (a) [***] (as specifically defined in Exhibit B to this Agreement), (b) any polypeptides made in the Design & Development Program that are modifications or derivatives of a molecule
described in part (a) of this definition, or (c) [***] through December 31, 2009 as specifically defined in Exhibit B to this Agreement. The Parties may mutually agree in writing to add additional development targets to the
Design & Development Program, in which event “Elanco Compounds” shall also include such additional development targets and modifications and derivatives thereof made in the Design & Development Program. 

 

	2.	Exhibit A, Page 1, of the Agreement shall be deleted and replaced with new Exhibit A, Page 1, as follows: 

  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

1 

 CONFIDENTIAL 

 

 Ambrx Inc. / Elanco Animal Health 

Collaborative Research, License & Commercialization Agreement 

EXHIBIT A (page 1) 

PRODUCT DEVELOPMENT PLAN 

(The first draft must be consistent with the outline of scope of this project and responsibilities outline in this Exhibit A, and will be
provided by the Project Team to the Steering Committee within 60 days of the completion of Elanco due diligence, with final approval by Steering Committee within 90 days after receipt of the first draft) 

[***] 

  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

2 

 CONFIDENTIAL 

 

	3.	The Parties have agreed to amend Exhibit B (“Elanco Compounds”) to replace the [***] paragraph located on page 42 of the Agreement with the following paragraph: 

[***] 

[***] 
 All other terms, obligations, and
conditions of the Agreement shall remain in full force and effect, and are unmodified by this Amendment. The terms of this Amendment are hereby incorporated into the Agreement as though fully set forth therein. 

[Remainder of this page intentionally left blank] 

  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

3 

 CONFIDENTIAL 

 

 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed and
delivered by their respective duly authorized officers. 
  

			
	EXECUTED	  	
		
	Signed on behalf of	  	)
	Eli Lilly and Company, operating through its	  	)
	Elanco Animal Health division	  	)
	by an authorized officer in the presence of:	  	)

					
			
	 /s/ Lori Stephens
	 		 	 /s/ William C. Weldon

	Signature of Witness	 		 	Signature of Authorized Officer
			
	 Lori Stephens
	 		 	 William C. Weldon

	Name of Witness (please print)	 		 	Name of Authorized Officer (please print)
			
	 June 24, 2009
	 		 	
	Date Signed	 		 	

			
		
	Signed on behalf of	  	)
	Ambrx, Inc.	  	)
	by an authorized officer in the presence of:	  	)

					
			
	 /s/ Amy M. Sheridan
	 		 	 /s/ Stephen W. Kaldor, Ph.D.

	Signature of Witness	 		 	Signature of Authorized Officer
			
	 Amy M. Sheridan
	 		 	 Stephen W. Kaldor, Ph.D.

	Name of Witness (please print)	 		 	President and Chief Executive Officer
			
	 July 6, 2009
	 		 	
	Date Signed	 		 	

  
 4EX-10.25

 Exhibit 10.25 

CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED
MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 AMENDMENT NO. 3 TO THE 

COLLABORATIVE RESEARCH, LICENSE & 

COMMERCIALIZATION AGREEMENT 

THIS AMENDMENT NO. 3 to the Collaborative Research, License & Commercialization Agreement (“Amendment No. 3”),
effective as of December 21, 2009 (“Effective Date”) is by and between Eli Lilly and Company, operating through its Elanco Animal Health division, 2001 W. Main Street, Greenfield, Indiana 46140 (“Elanco”) and Ambrx, Inc.,
10975 North Torrey Pines Road, La Jolla, CA 92037 (“Ambrx”) (Elanco, together with Ambrx, the “Parties”). 

WHEREAS, the Parties have entered into that certain Collaborative Research, License & Commercialization Agreement, effective
as of January 18, 2007, as previously modified by Amendments No. 1 and No. 2 (together with Amendments hereinafter referred to as the “Original Agreement”); and 

WHEREAS, the Parties desire to further amend the Original Agreement as set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants set forth in this Amendment No. 3, and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
  

	1.	Section 1.9. Design & Development Program. The term of the Design & Development Program shall hereby be extended until January 18, 2011 (“Extended Design & Development
Program”). 

  

	2.	 Section 1.11. Elanco Compound. The Parties have agreed to replace [***] with [***] as
the fourth Elanco Compound under the Original Agreement. With respect to [***], this Amendment No. 3 shall be deemed to satisfy the requirements of Section 2.3(c) of the Original Agreement, and as such all rights granted to Elanco under
the Original Agreement to [***] revert to Ambrx 

  

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according to Section 2.3(c) of the Original Agreement. Elanco shall have the right under this Amendment No. 3 to nominate up to two (2) additional Elanco Compounds to the Extended
D&DP. Once Ambrx has received both the Upfront and Target Loading Payments as described below, Elanco shall have exclusive rights to these Elanco Compounds as defined in the Original Agreement. Elanco can nominate for consideration as Elanco
Compounds the following targets: 

  

	 	•	 	Elanco Compound #1: [***] 

  

	 	•	 	Elanco Compound #2: [***] 

  

	3.	Section 5.1. Consideration. Elanco shall pay to Ambrx within thirty (30) days following the Effective Date of this Amendment No. 3, an upfront payment in the amount of [***]. 

  

	A.	Section 1.17. FTE Rate. During the term of the Extended Design & Development Program, Elanco shall reimburse Ambrx on a Full Time Equivalent (FTE) basis for Ambrx scientists working on the Extended
Design & Development Program. With respect only to the three (3) FTE’s for 2010 set forth in Section 4.9 of this Amendment No. 3, the FTE Rate, as defined in Section 1.17 of the Original Agreement, will be a fixed
rate of [***] per FTE and will not be indexed as provided in Section 1.17 of the Original Agreement. Any FTE’s in addition to the three (3) FTE’s referred to in this Paragraph 3A and Paragraph 4 of this Amendment No. 3 shall
be subject to the FTE Rate set forth in Section 1.17 of the Original Agreement. During the Extended Design & Development Program, Section 4.9(e) of the twice-amended Agreement is replaced with the following language: “Elanco
commits to fund three (3) Ambrx employees. Should development for any of the new Products be discontinued or delayed due to lack of scientific progress on the Design & Development Program, these committed headcount numbers may be
reduced accordingly upon approval of the Steering Committee.” 

  

	4.	Section 4.9 (e). Product Development Conducted by Ambrx. During the Extended Design & Development Program, Section 4.9(e) shall be replaced with the following language: “Elanco commits to
fund three (3) Ambrx employees. Should development for any of the new Products be discontinued or delayed due to lack of scientific progress on the Extended 

  

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Design & Development Program, these committed headcount numbers may be reduced accordingly upon approval of the Steering Committee.” 

 

	5.	Ambrx Right to Share Data. In connection with partnering or corporate finance discussion with Third Parties, Ambrx shall have the right to disclose information related to vaccines and alternative polymers. Such
disclosure is permitted as long as the Third Parties have entered into a confidentiality agreement with Ambrx prior to dissemination of information, and the terms the confidentiality agreement are consistent with the confidentiality provision set
forth in Article 8 of the Original Agreement. Ambrx shall not disclose that such data was generated to enable the development and commercialization of products within the animal health field. 

 

	6.	Research Plan. Elanco and Ambrx agree that within forty five (45) days after the Effective Date of this Amendment No. 3, or fifteen (15) days after the next JSC meeting following the Effective Date
of this Amendment No. 3, whichever is later, a mutually agreed to written research plan for [***], [***] and [***] shall be made part of the Original Agreement by amendment thereto.

  

	7.	No Other Amendments. Except as specifically modified herein, the Original Agreement shall remain in full force and effect. 

  

	8.	Applicable Law. This Amendment No. 3 shall be governed in all respects by the laws of the State of Indiana, excluding its rules on conflicts of laws. 

 

	9.	Counterparts. This Amendment No. 3 may be executed in any number of counterparts, each of which shall be an original, but all of which, when taken together, shall constitute one and the same instrument.

 IN WITNESS WHEREOF, the parties hereto executed this Amendment No. 3 as of the Effective Date. 

 

									
	ELI LILLY AND COMPANY	 		 	AMBRX, INC.
					
	By:	 	 /s/ William Weldon
	 		 	By:	 	 /s/ John W. Wallan III

  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

									
	Name:	 	 William Weldon
	 		 	Name:	 	 John W. Wallan III

					
	Title:	 	 Senior Director Global
	 		 	Title:	 	 Vice President, IP,

					
		 	 Research and Development
	 		 		 	 Corporate and Legal

					
	Date:	 	 January 1, 2009
	 		 	Date:	 	 December 21, 2009

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