Document:

Exhibit 10.12

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF
PUBLICLY DISCLOSED

 

FOURTH AMENDMENT

TO

EXCLUSIVE LICENSE AGREEMENT

 

This FOURTH AMENDMENT
TO EXCLUSIVE LICENSE AGREEMENT (this "Amendment") is made and entered into as of September 1, 2021 (“Fourth Amendment
Effective Date”) by and between Belite Bio, Inc ("Company") and The Trustees
of Columbia University in the City of New York ("Columbia").

 

W I T N E S S
E T H:

 

WHEREAS, Columbia and LIN BIOSCIENCE, INC. are
parties to that certain Exclusive License Agreement dated September 13, 2016, and amended on August 15, 2017, March 28, 2019 and October
24, 2019 (collectively, the “License Agreement”);

 

WHEREAS, LIN BIOSCIENCE, INC. and LIN BIOSCIENCE
INTERNATIONAL LTD. entered an agreement dated June 30, 2018 to assign the License Agreement to LIN BIOSCIENCE INTERNATIONAL LTD. (the
 “First Assignment”);

 

WHEREAS, LIN BIOSCIENCE INTERNATIONAL LTD. and
Company (formerly known as Lin BioScience Co., Ltd.) entered an agreement dated July 1, 2018 to assign the License Agreement to Company
(the “Second Assignment”);

 

WHEREAS, Columbia provided its consent to the
First Assignment and the Second Assignment dated May 3, 2018;

 

WHEREAS, Company and
Columbia are parties to the License Agreement as amended (collectively, the “Agreement”). Each capitalized term used
herein, and not otherwise defined herein, shall have the meaning set forth in the Agreement; and

 

WHEREAS, Company and
Columbia wish to amend the Agreement in certain respects;

 

NOW, THEREFORE, in consideration of the premises
and the mutual covenants herein set forth, the parties hereto hereby agree as follows:

 

    1 of 4

     

    

 

		1.	Section 6 of the Agreement (Diligence) is deleted in its entirety and replaced with the following:

 

6. Diligence.

 

		a.	Company shall use its commercially reasonable efforts to research, discover, develop and market a Products for commercial sale and
distribution in the Field and throughout the Territory, and to such end, such efforts will include the following:

 

		(i)	Investigational New Drug Application (IND)

 

		·	File IND [***] of receiving final study report on GLP toxicity studies (Company
as Sponsor)

 

		(ii)	Phase I Clinical Trials

 

		·	MAD Phase I trial (normal volunteers) completed [***]

 

		·	Complete Phase Ib trial in Stargardt Disease patients [***] (may be combined
with Phase II for Stargardt Disease)

 

		(iii)	Phase II/III Clinical Trials

 

		·	Start Phase II in Stargardt Disease [***]

 

		·	Start Phase III in Stargardt Disease [***]

 

		·	Start Phase II or Phase III clinical trial in Dry AMD [***]

 

		(iv)	Regulatory Approval

 

		·	Obtain Regulatory Approval in Stargardt Disease [***]

 

		·	Obtain Regulatory Approval in Dry AMD [***]

 

		2.	Company and Columbia acknowledge that Columbia’s employee Dr. Kostantin
Petrukhin and Company’s employee(s) Yu-Hsin Tom Lin and Cheng-Chi Irene Wang are inventors on certain patent applications filed
by Company, and that such Patents are jointly-owned by Company and Columbia (the “Joint Patent(s)”). Company and Columbia
agree that Company will continue to prepare, file and maintain such patent applications and/or patents for the Joint Patents at Company’s
sole expense, in consultation with Columbia using counsel reasonably acceptable to Columbia. The following shall be inserted at the end
of Section 11(a) (Patent Prosecution and Maintenance; Litigation):

 

    2 of 4

     

    

 

“For any Patents jointly-owned
by Columbia and Company (“Joint Patent(s)”) filed by or on behalf of Company, Company shall instruct its patent counsel (1)
to copy Columbia on all correspondence related to such Patents (including but not limited to copies of each patent application, office
action, response to office action, request for terminal disclaimer, and request for reissue or reexamination of any patent or patent application)
and (2) as requested by Columbia, to provide an update as to the current status of such Patents.

 

Company shall not abandon any Joint
Patents without giving Columbia sixty (60) days’ written notice. Upon receiving such notice, Columbia shall have the right in its
sole discretion to remove such Joint Patents from the Patents exclusively licensed to the Company under this Agreement and to assume complete
control of all further patent prosecution in that country at Columbia’s sole expense, and Company will have, to the fullest extent
permitted by applicable law and contract, no further right, title, or interest in that particular patent application or any patent issuing
in the applicable country(ies), and will not be entitled to commercialize said Joint Patent(s). Company shall at the request of Columbia
freely execute any documents necessary to vest the maximum legally-permissible ownership or control of the applicable patent application(s)
or patent(s) in Columbia (e.g., by assignment or exclusive license).”

 

		3.	The parties wish to add the Joint Patents to the exclusive license to Patents
granted by Columbia to Company under the Agreement. The following Patents shall be added to Exhibit A:

 

	Invention Report No.	Application / Patent No.	Filing Date	Country
	[***]	[***]	 	 
	 	[***]	[***]	[***]
	 	[***]	[***]	[***]
	 	[***]	[***]	[***]
	 	[***]	[***]	[***]
	 	[***]	[***]	[***]
	 	[***]	[***]	[***]

 

		4.	Except as expressly set forth in this Fourth Amendment, the Agreement shall
remain in full force and effect. If there is any inconsistency or conflict between this Fourth Amendment and the Agreement, the provisions
of this Amendment shall govern and control. This Fourth Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together
shall constitute one and the same instrument. This Fourth Amendment shall be binding upon, and shall inure to the benefit of, the parties
hereto and their respective successors and assigns.

 

    3 of 4

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Fourth Amendment to the License Agreement to be executed as of the date first above written.

 

	 	THE TRUSTEES OF COLUMBIA
	 	UNIVERSITY IN THE CITY OF NEW YORK
	 	 
	 	By: 	/s/ Scot G. Hamilton
	 	Name: Scot G. Hamilton
	 	Title: AVP for CTV at Columbia University
	 	 
	 	TTS #58759 (Original Agt #49055)
	 	 
	 	BELITE BIO, INC
	 	 
	 	By: 	/s/ Tom Lin
	 	Name: Tom Lin
	 	Title: Director

 

    4 of 4Exhibit
10.13

 

LBS-008
RESEARCH AND DEVELOPMENT SERVICES AGREEMENT

 

This Research and Development
Services Agreement (this “Agreement”), effective as of July 1, 2021 (“Effective Date”), is entered
into by and between Belite Bio, Inc, a Cayman corporation, with contact office located at 12F., No.68, Sec. 5, Zhongxiao E. Rd.,
Xinyi Dist., Taipei City 110, Taiwan (“Belite Inc”) and Lin BioScience, Inc., a Taiwan corporation, located
at 12F., No.68, Sec. 5, Zhongxiao E. Rd., Xinyi Dist., Taipei City 110, Taiwan (“Lin Inc.”).

 

BACKGROUND

 

		A.	Lin Inc. is a drug development company specializing in innovative therapies for diseases with unmet medical
needs. Its pipeline aimed at treating life-threatening or disabling diseases in oncology, ophthalmology and metabolic disease.

 

		B.	Belite Inc is the subsidiary of Lin Inc.

 

		C.	Belite Inc desires to have Lin Inc. perform certain new drug development services based on the terms and
conditions set forth below.

 

NOW, THEREFORE, in
consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows:

 

		1.	DEFINITIONS

 

		(a)	“Deliverables” shall mean the results to be delivered by Lin Inc. to Belite Inc as
set forth in the SOW.

 

		(b)	“IPR” means patents, copyrights, trade secrets, design rights or any other proprietary
rights, applications for any of the foregoing and any other protection of a similar nature throughout the world, whether now existing
or hereinafter developed or obtained.

 

		(c)	“SOW” means the document titled “Statement of Work” that is attached
hereto as Exhibit A.

 

		(d)	“Services” means the services provided by Lin Inc. relating to, including without limitation,
conduct or facilitation of research, development or clinical trials for pipeline LBS-008 as set forth in the SOW.

 

		2.	SERVICES

 

Services.
Subject to the terms and conditions of this Agreement, including without limitation the SOW, during the term of this Agreement, Lin Inc.
shall provide the Services and deliver the Deliverables to Belite Inc as set forth in the SOW. Subject to the requirements set forth in
the SOW, Belite Inc shall have sole discretion and control over the work performed under this Agreement and the manner in which such work
is performed and Lin Inc. shall follow Belite Inc’s instruction.

 

    1

     

    

 

		3.	FEES AND BILLING

 

		(a)	Fees. Belite Inc shall pay Lin Inc. for the Services for an amount equal to 110 percent of Lin
Inc.’s actual costs for its performance of the Services, including its costs of research and development and personnel, provided
that Lin Inc. shall provide Belite Inc with relevant invoices and documentation proving such costs are reasonably incurred by Lin Inc.
for its performance of the Services.

 

		(b)	Expenses. Belite Inc will reimburse Lin Inc. for Lin Inc.’s actual expenses for transportation,
travel and lodging provided that such expenses are incurred by Lin Inc. for its performance of the Services and will be reimbursed against
invoices.

 

		(c)	Billing and Payment Terms. The fees and expenses set forth in Subparagraphs (a) and (b) of this
Section 3 are the only payments Belite Inc shall pay to Lin Inc. under this Agreement.

 

		(d)	Taxes. All payments required by this Agreement are exclusive of any and all sales, value-added,
use, or withholding tax on international services. Such taxes, fees and/or duties, except any taxes based on Lin Inc.’s income,
will be assumed by Belite Inc without deduction to amounts owed to Lin Inc.

 

		4.	DELIVERABLES AND IPR

 

		(a)	Deliverables. Lin Inc. will transfer to Belite Inc the ownership of the Deliverables.

 

		(b)	IPR. Lin Inc. acknowledges and agrees that Belite Inc is the sole and exclusive owner of all IPR
that Lin Inc. directly or indirectly managed, developed or assisted in the performance of the Services.

 

		5.	CONFIDENTIAL INFORMATION

 

		(a)	Confidential Information. “Confidential Information” means information, including
without limitation information concerning or relating to a party’s business, plans, customers, technology, products, and the terms
and conditions of this Agreement, in any form that may be disclosed by a party hereto (the “Disclosing Party”) to the
other party (the “Receiving Party”); provided that it shall be either (a) conspicuously marked “Confidential”
or “Proprietary” if disclosed to the Receiving Party in tangible form, or (b) if disclosed orally, is reduced by the
Disclosing Party to a writing conspicuously marked “Confidential” or “Proprietary”, given to the
Receiving Party within thirty (30) days of such oral disclosure.

 

		(b)	Exclusions. Notwithstanding the provisions of Subparagraph (a) of this Section 5, Confidential
Information excludes information that the Receiving Party can demonstrate: (i) is or becomes part of the public domain through no fault
or breach of the Receiving Party; (ii) is known to the Receiving Party prior to disclosure thereof; (iii) is subsequently rightfully obtained
by the Receiving Party from a third party that has the legal right to disclose such information to the Receiving Party; (iv) is independently
developed by the Receiving Party; (v) is disclosed to others without an obligation of confidentiality; and (vi) is required by law to
be disclosed by the Receiving Party, provided that the
Receiving Party gives the Disclosing Party prompt written notice of such requirement prior to such disclosure.

 

    2

     

    

 

		(c)	Use and Disclosure. During the term of this Agreement and for a period of 3 years thereafter, each
party agrees that it shall use the Confidential Information of the other party only to the extent reasonably necessary to perform its
obligations or exercise its rights under this Agreement and will not disclose, or permit to be disclosed, the same, directly or indirectly,
to any third party except as permitted under this Agreement or otherwise approved in writing by the other party. Each party agrees to
exercise at least reasonable care in protecting the Confidential Information from unauthorized use and disclosure.

 

		6.	LIMITATION OF LIABILITY

 

IN NO EVENT WILL
EITHER PARTY BE LIABLE FOR ANY LOSS OF PROFITS, LOSS OF USE, BUSINESS INTERRUPTION, LOSS OF DATA, DELAY, COST OF COVER, OR ANY INDIRECT,
SPECIAL, OR CONSEQUENTIAL DAMAGES OF ANY KIND IN CONNECTION WITH, RELATING TO OR ARISING OUT OF THIS AGREEMENT, THE SERVICES OR THE DELIVERABLES,
EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

		7.	REPRESENTATION & WARRANTIES

 

Lin Inc. represents
and warrants that the Services, Deliverables, and any other information/materials provided by Belite Bio, LLC to Belite Inc under this
Agreement do not and will not infringe or misappropriate any IPR of any third party or constitute unfair competition or trade practices
under the laws of any jurisdiction and there are no claims pending against Lin Inc.

 

		8.	INDEMNIFICATION

 

Lin Inc. shall defend,
indemnify and hold Belite Inc harmless from any and all claims, damages, losses or suits arising out of or in connection with the performance
of this Agreement.

 

		9.	TERM AND TERMINATION

 

		(a)	Term. This Agreement shall become effective on the Effective Date, and will continue to be in effect
until June 30, 2022 unless and until earlier terminated according to the provisions of Section 9(b).

 

		(b)	Termination.

 

		(i)	Either party will have the right to terminate this Agreement, or the applicable SOW, if the other party
breaches any material term or condition of this Agreement and fails to cure such breach within 30 days after receipt of written notice
of such breach.

 

    3

     

    

 

		(ii)	Belite Inc shall have the right to terminate this Agreement, or the applicable SOW, for its convenience
by providing Lin Inc. with 30-day advance written notice of such termination.

 

		(iii)	Either party may terminate this Agreement if: (1) the other party becomes the subject of a voluntary petition
in bankruptcy or any voluntary proceeding relating to insolvency, receivership, liquidation, or composition for the benefit of creditors;
or (2) the other party becomes the subject of an involuntary petition in bankruptcy or any involuntary proceeding relating to insolvency,
receivership, liquidation, or composition for the benefit of creditors, if such petition or proceeding is not dismissed within sixty (60)
days of filing.

 

		(c)	Effect of Termination. Upon termination or expiration of this Agreement: (i) Lin Inc. may immediately
cease providing Services hereunder; and (ii) any and all payment obligations of Belite Inc under this Agreement will become due immediately.
Within thirty (30) days after such expiration or termination, each party shall return all tangible embodiments of Confidential Information
of the other party in its possession at the time of expiration or termination.

 

		(d)	Survival. Sections 1, 4, 5, 6, 7, 8, 9, 10 and 11 will survive any expiration or termination of
this Agreement.

 

		10.	GOVERNING LAW & DISPUTE RESOLUTION 

 

		(a)	Governing Law. The rights and obligations of the parities under this Agreement shall be governed
by and construed under the laws of Taiwan (Republic of China, R.O.C., hereinafter Taiwan) without reference to conflict of laws principles.

 

		(b)	Dispute Resolution. The parties agree that the Taiwan Taipei District Court shall have the exclusive
jurisdiction over all questions and controversies arising out of or in connection with the performance or execution of this Agreement.

 

		11.	MISCELLANEOUS PROVISIONS

 

		(a)	Conflict with Exhibits. In the event that there is any conflict or ambiguity between a provision
in this Agreement and that in any of the exhibits hereto this Agreement shall control and have precedence over such exhibit.

 

		(b)	Force Majeure. Neither party will be liable for any failure or delay in its performance under this
Agreement due to any cause beyond its reasonable control, including without limitation act of war, acts of God, earthquake, flood, embargo,
riot, sabotage, labor shortage or dispute, governmental act or failure of the internet.

 

		(c)	Assignment. Neither party may assign this Agreement without the prior written consent of the other
party, except that either party may assign this Agreement in whole as part of a corporate reorganization, consolidation, merger, or sale
of substantially all of its assets without any prior consent of the other party. Any attempted assignment or delegation without such consent
will be void. This Agreement will bind and inure to the benefit of each party’s successors and permitted assigns.

 

    4

     

    

 

		(d)	Notices. Any notice or communication required or permitted to be given hereunder may be delivered
by hand, deposited with an overnight courier, sent by confirmed facsimile, or mailed by registered or certified mail, return receipt requested,
postage prepaid, to the parties’ respective address first set forth above, or at such other address as may hereafter be furnished
in writing by either party hereto to the other. Such notice will be deemed to have been given as of the date it is delivered, mailed or
sent, whichever is earlier.

 

		(e)	Headings. The section headings and captions contained in this Agreement or its exhibits are included
merely for convenience of reference. Such headings and captions are not to be considered part of, or to be used in interpreting, this
Agreement and in no way limit or affect any of the contents of this Agreement or its exhibits.

 

		(f)	Entire Agreement; Counterparts. This Agreement, including the SOW which is incorporated herein
by reference, constitutes the complete and exclusive agreement between the parties with respect to the subject matter hereof, and supersedes
and replaces any and all prior or contemporaneous discussions, negotiations, understandings and agreements, written and oral, regarding
such subject matter. This Agreement may not be modified or amended except in a writing signed by a duly authorized representative of both
parties. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together
shall constitute one and the same instrument.

 

    5

     

    

 

IN WITNESS WHEREOF, Belite Inc’s and Lin
Inc.’s authorized representatives have duly executed this Agreement below to indicate their assent to its terms:

 

	Belite Bio, Inc	 	Lin BioScience, Inc.
	 	 	 
	Signature:	/s/ Tom Lin	 	Signature: 	/s/ Tom Lin
	Print Name: 	Tom Lin	 	Print Name: 	Tom Lin
	Title: 	Director	 	Title: 	Chairman

 

    6

     

    

 

EXHIBIT A

Statement of Work

 

For the research and development
of new drug LBS-008, services from Lin Inc. shall be as follows:

 

LBS-008

	Work	 
	Clinical	Clinical study management

 

    7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}]]