Document:

Collaboration and Option Agreement, dated as of November 16, 2004

 Exhibit 10.2 
 Confidential Materials omitted and filed separately with the 
 Securities and Exchange Commission. Asterisk
denote omissions. 
 COLLABORATION AND OPTION AGREEMENT 
 by and between 
 Infinity Pharmaceuticals, Inc. 
 and 
 Novartis International
Pharmaceutical Ltd. 
  

 Collaboration Agreement — Confidential 

 COLLABORATION AND OPTION AGREEMENT 
 This Agreement is made this 16th day of November, 2004 (the “Effective Date”) by and between Infinity Pharmaceuticals, Inc. (“Infinity”), a Delaware corporation with principal offices at 780 Memorial Drive, Cambridge, Massachusetts
02139, and Novartis International Pharmaceutical Ltd. (“Novartis”), a Bermuda corporation with principal offices at Hurst Holme, 12 Trott Road, Hamilton, HM LX, Bermuda. Infinity and Novartis are sometimes referred to herein
individually as a “Party” and together as the “Parties.” 
 INTRODUCTION 
 WHEREAS, Infinity has developed a proprietary diversity oriented synthesis methodology to design novel, three-dimensional, natural compound-like
synthetic compounds; 
 WHEREAS, Novartis and its Affiliates possess expertise in discovering, developing, manufacturing, marketing, and
selling pharmaceuticals worldwide; 
 WHEREAS, Infinity and Novartis desire to enter into a collaboration, the objectives of which are the
joint design by the Parties of Synthetic Pathways, as defined herein, and the synthesis by Infinity, using such Synthetic Pathways, of certain of the Library Compounds, as defined herein (the “Collaboration”); 
 WHEREAS, each of the Parties, together with its respective Affiliates, is interested in screening Library Compounds against Targets with the goal of
developing and commercializing drugs for human therapeutic and other purposes; 
 WHEREAS, in the event that Infinity generates any Lead
Programs, as defined herein, using Library Compounds, then Novartis and its Affiliates shall have the option to develop, market and sell the same as drugs upon the terms set forth herein and in a License, Development and Commercialization Agreement
identical in substance to Exhibit A hereto; and 
 WHEREAS, in connection with the Collaboration, Infinity desires to sell, and
Novartis Pharma AG, an Affiliate of Novartis, desires to purchase on the Effective Date 3,333,333 shares of Infinity’s Series C Preferred Stock for an aggregate purchase price of U.S.$15 million, in accordance with the terms and conditions of
the Stock Purchase Agreement (as defined herein); 
  

 Collaboration Agreement — Confidential 

 NOW THEREFORE, in consideration of the mutual covenants set forth in this Agreement, and other good and
valuable consideration, the Parties agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 1.1. “Acceptance Criteria” shall
mean the minimum acceptable criteria set forth in Section 2.2.4 that each Proposed Compound must meet before such Proposed Compound can be deemed an Actual Compound. 
 1.2. “Actual Compound” shall mean Proposed Compounds which meet the Acceptance Criteria in Section 2.2.4 and have been deemed an Actual Compound as set forth in Section 2.2.6. For purposes
of clarity, an Actual Compound shall also remain a Library Compound. 
 1.3. “Active Moiety” shall have the meaning assigned
to that term under 21 CFR 314.108(a), as such regulation is in effect on the Effective Date, namely: “the molecule or ion, excluding those appended portions of the molecule that cause the drug to be an ester, salt (including a salt with
hydrogen or coordination bonds), or other noncovalent derivative (such as a complex, a chelate or clathrate) of the molecule, responsible for the physiological or pharmacological action of the drug substance.” 
 1.4. “Affiliate” shall mean, with respect to any Person, any other Person which directly or indirectly, by itself or through one or more
intermediaries, controls, or is controlled by, or is under common control with, such Person. The term “control” (as applied to a Person) means the possession, direct or indirect, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. Control will be presumed if one Person owns, either of record or beneficially, at least fifty percent (50%) of the voting stock
of any other Person. Such other 

  

 Collaboration Agreement — Confidential – Page 2 

 
relationship as in fact results in actual control over the management, business, and affairs of a Person shall also be deemed to constitute control;
provided, however, that no Person shall be deemed to exercise control over another Person solely because the latter relies on the former for a majority of its business. A Person will be deemed an Affiliate only so long as such
ownership or control relationship continues. In the case of Novartis, “Affiliates” shall also expressly be deemed to include the Novartis Institute for Functional Genomics, Inc. and the Friedrich Miescher Institute for BioMedical Research
and their respective Affiliates. 
 1.5. “Background Intellectual Property” shall have the meaning set forth in
Section 7.1.1(a). 
 1.6. “Collaboration” shall have the meaning set forth in the preamble hereto. 
 1.7. “Collaboration Intellectual Property” shall mean Compound Related Intellectual Property, Compound Intellectual Property and
Non-Compound Related Intellectual Property. 
 1.8. “Compound Intellectual Property” shall have the meaning set forth in
Section 3.2.2. 
 1.9. “Compound Related Intellectual Property” shall have the meaning set forth in Section 7.1.2.

 1.10. “Controlled” shall mean, with respect to an Intellectual Property right, the legal authority or right of a Party
(other than by license pursuant to this Agreement) to grant a license or sublicense of such intellectual property rights to the other Party, or to otherwise disclose such proprietary or trade secret information to such other Party, as applicable,
without breaching the terms of any agreement with a Third Party. 
 1.11. “Data Package” shall have the meaning set forth in
Section 3.3.3. 
 1.12. “Data Receipt Notice” shall have the meaning set forth in Section 3.3.4(a). 
  

 Collaboration Agreement — Confidential – Page 3 

 1.13. “Derivative Compounds” shall mean any and all compounds that are modified by
chemical and/or molecular-genetic means from a Library Compound. Analogues of such compounds and their derivatives shall be included within the scope of Derivative Compounds. 
 1.14. “Effective Date” shall mean the effective date of this Agreement as set forth on the first page. 
 1.15. “Field” shall mean all human and veterinary health-care applications including, but not limited to, research, diagnosis,
therapeutics, and prophylaxis with respect to any indication, together with all agricultural purposes. 
 1.16. “Genus
License” shall have the meaning set forth in Section 3.2.1. 
 1.17. “Infinity Compound” shall have the
meaning set forth in Section 3.4(b) and/or Section 3.5, as applicable. 
 1.18. “Infinity Compound Patent” shall
have the meaning set forth in Section 3.2.3. 
 1.19. “Intellectual Property” shall mean all confidential and
proprietary data, technical information, know-how, experience, inventions (whether or not patented and all Patents claiming such inventions), and trade secrets Controlled by a Party or its Affiliates. 
 1.20. “Investors’ Rights Agreement” shall mean that certain Third Amended and Restated Investors’ Rights Agreement dated as of
the Effective Date. 
 1.21. “Joint Steering Committee” shall have the meaning set forth in Section 2.3.1. 

1.22. “Lead Criteria” shall have the meaning set forth in Section 3.3.2. 
 1.23. “Lead Program” shall mean any Library Compounds, together with all Derivative Compounds (and together with any and all compounds
having the same Active Moiety as such Library Compounds or Derivative Compounds), which: (a) are discovered during the course of screening and initial optimization of the Library Compounds against a Target by Infinity or its Affiliates;
(b) meet the Lead Criteria; and (c) Infinity wishes to further optimize. A Lead Program may be composed of one or more Lead Series. 
  

 Collaboration Agreement — Confidential – Page 4 

 1.24. “Lead Series” shall mean the structurally-related Derivative Compounds contained
in a Lead Program. Each Lead Series shall contain at least [**] chemical entities. 
 1.25. “Library Compound” shall mean
any chemical entity that may be synthesized through the synthetic transformations defining a Synthetic Pathway. 
 1.26. “License
Agreement” shall mean the License, Development and Commercialization Agreement, identical in substance to Exhibit A hereto, to be executed by Infinity and Novartis with respect to Optioned Lead Program(s). 
 1.27. “Non-Acceptance Notice” shall have the meaning set forth in Section 2.2.5(a). 
 1.28. “Non-Acceptance Notice Period” shall have the meaning set forth in Section 2.2.5(a). 
 1.29. “Non-Compound Related Intellectual Property” shall have the meaning set forth in Section 7.1.3. 
 1.30. “Novartis Reserved Target” shall have the meaning set forth in Section 3.1.2(b)(iii). 
 1.31. “Option” shall have the meaning set forth in Section 3.3.1. 
 1.32. “Optioned Lead Program” shall mean any Lead Program as to which Novartis has exercised its Option. 
 1.33. “Patents” means all existing patents and patent applications and all patent applications hereafter filed, including any
continuation, continuation-in-part, divisional, provisional or any substitute applications, any patent issued with respect to any such patent applications, any reissue, reexamination, renewal or extension (including any supplementary protection
certificate) of any of the foregoing patents, and any confirmation patent or registration patent or patent of addition based on any of the foregoing patents, and all foreign counterparts of any of the foregoing. 
  

 Collaboration Agreement — Confidential – Page 5 

 1.34. “Person” means any individual, corporation, partnership, association, joint-stock
company, trust, unincorporated organization or government or political subdivision thereof. 
 1.35. “Proposed Compounds”
shall mean that subset of Library Compounds that the Joint Steering Committee determines are to be synthesized by Infinity during the Collaboration pursuant to Section 2.2.3. 
 1.36. “Scaffold” shall mean a skeletal core of a molecule with designated chemical functionality through which variable substituents can
be attached through standard organic chemical transformations, and that the Joint Steering Committee designates as part of the Collaboration. Stereochemical variations in the Scaffold shall be considered the same Scaffold. For clarity,
representative examples of compounds that would be inside or outside of a particular Scaffold are described in Exhibit B. 
 1.37. “Stock Purchase Agreement” shall mean that Stock Purchase Agreement dated as of the Effective Date by and between Infinity and Novartis Pharma AG, an Affiliate of Novartis. 
 1.38. “Synthetic Pathway” shall mean any sequence of chemical transformations that create a Scaffold, and that the Joint Steering
Committee designates as part of the Collaboration. 
 1.39. “Target” shall mean any biological entity identified as being
potentially involved in one or more disease states. 
 1.40. “Third Party” shall mean any Person that is not a Party or an
Affiliate of any Party. 
 1.41. “Threshold Date” shall have the meaning set forth in Section 3.1.2(b). 
  

 Collaboration Agreement — Confidential – Page 6 

 ARTICLE II 
 THE COLLABORATION 
 2.1. Commencement; Direction. 
 The Collaboration shall commence on the Effective Date. The Joint Steering Committee shall direct the conduct of the Collaboration. 
 2.2. Library Design and Synthesis. 
 2.2.1. Synthetic Pathways. During the course of the Collaboration, the Joint Steering Committee shall design, and Infinity shall deliver Actual Compounds from, no fewer than [**] and no more than [**] Synthetic Pathways.

 2.2.2. Library Compounds. The Joint Steering Committee shall design Synthetic Pathways, Scaffolds and their associated
Library Compounds so as not to overlap with compounds outside the scope of the Collaboration that are then in or under development for the compound collection of a Party or its Affiliates. The vote by each Party’s representatives to the Joint
Steering Committee approving the designation of a Synthetic Pathway and Scaffold shall be deemed a representation by such Party that such Synthetic Pathway and Scaffold do not overlap with compounds outside the scope of the Collaboration that are
then in or under development for the compound collection of such Party or its Affiliates. Upon approval, each Synthetic Pathway and Scaffold, together with representative examples and any written descriptions shall be attached and incorporated
hereto as Exhibit C. 
 2.2.3. Proposed Compounds. The Joint Steering Committee shall identify the chemical
entities to be synthesized by Infinity (the “Proposed Compounds”). Infinity shall not synthesize more than [**] Actual Compounds using any [**] Synthetic Pathway. Infinity shall synthesize, on average, between [**] and [**]
micromoles of each Proposed Compound. It is the expectation of the Parties that Infinity will provide Novartis with [**] micromoles of each Proposed Compound; provided, however, that for no more than [**] percent ([**]%) of the
Proposed Compounds generated in connection with any Synthetic Pathway, Infinity may provide Novartis with an amount greater than or equal to [**], but less than [**], micromoles of each such Proposed Compound. In no event will Infinity provide
Novartis with fewer than [**] micromoles of any Proposed Compound. 
  

 Collaboration Agreement — Confidential – Page 7 

 2.2.4. Acceptance Criteria. Infinity will deliver to Novartis only Proposed Compounds that,
in Infinity’s reasonable judgment, meet the following Acceptance Criteria: 
 (a) The quantities of Proposed Compounds delivered to
Novartis shall be no less than as set forth in Section 2.2.3. 
 (b) Each Proposed Compound shall be at least [**] percent ([**]%)
pure, as defined by HPLC-MS UV at 210 nm. In the event that the Joint Steering Committee determines that HPLC-MS UV is not an appropriate detection method for a Proposed Compound, its purity shall instead be determined by HPLC-MS ELSD. 

(c) Infinity will provide Proposed Compounds to Novartis in barcoded Whatman plates (96-deepwell, 1 ml) with PlatelockTM heat-sealed foil covers
from Velocity11 (or other comparable sealing, mutually agreed by the Parties). Novartis shall provide the Whatman plates to Infinity. If the PlatelockTM heat-sealed foil covers from Velocity11 are used, Infinity shall provide them. If other
materials are used, the Parties will mutually agree on which Party shall supply such other materials. The Proposed Compounds shall be provided in [**] with eighty-eight (88) Proposed Compounds per plate in columns 1-11 and with column 12 empty.

 (d) The plates will be shipped on dry ice to the shipping destination indicated by Novartis, via a carrier selected in advance by
Novartis, FOB Infinity’s facility in Cambridge, the cost of which shall be borne by Novartis. 
 (e) Contemporaneously with its
delivery of the Proposed Compounds, Infinity shall deliver to Novartis an accurate structural description for each Proposed Compound in an electronic format reasonably acceptable to Novartis. 
 (f) Contemporaneously with its delivery of the Proposed Compounds, Infinity will also deliver electronic copies of its production notebooks which
contain Synthetic Pathway information related to the Proposed Compounds that is reasonably necessary to allow Novartis to 

  

 Collaboration Agreement — Confidential – Page 8 

 
synthesize the Proposed Compounds, which production notebooks include without limitation all information regarding the reaction conditions, necessary
reagents, materials, and the like used by Infinity to synthesize the Library Compounds and any intermediates made by Infinity. Such notebooks shall be delivered in an electronic format reasonably acceptable to Novartis. 
 2.2.5. Non-Acceptance of a Proposed Compound. 
 (a) In the event that Novartis, in its reasonable discretion, determines that a Proposed Compound does not meet the Acceptance Criteria, it shall so notify Infinity in writing (the “Non-Acceptance
Notice”) within [**] calendar days of the delivery of such Proposed Compound (the “Non-Acceptance Notice Period”). 
 (b) Novartis shall disclose in any Non-Acceptance Notice which Acceptance Criteria were not achieved. The Parties will share the data necessary to resolve differences over whether the Acceptance Criteria were met and shall refer any
unresolved disputes to the Joint Steering Committee pursuant to Section 2.4.2. 
 (c) Infinity may, in its sole discretion, attempt to
address the unachieved Acceptance Criteria disclosed in the Non-Acceptance Notice, and may then resubmit the relevant Proposed Compound to Novartis, along with other Proposed Compounds, in accordance with the procedure specified in
Section 2.2.4. The timetable set forth in subsection (a) shall apply to the resubmitted Proposed Compound as if it were being submitted to Novartis for the first time. 
 (d) If a Proposed Compound is ultimately rejected by the Joint Steering Committee, then Novartis shall delete structural and related information with
respect to such Proposed Compound from Novartis’ databases and return to Infinity all remaining Proposed Compound material which is not in Novartis’ screening format. Novartis may continue to include such material in screens;
provided, however, that Novartis shall not conduct research on such rejected Proposed Compounds nor determine the structure of such Proposed Compound through any analytical or other method. 
  

 Collaboration Agreement — Confidential – Page 9 

 (e) Notwithstanding the foregoing, any Proposed Compound that is the subject of a Non-Acceptance Notice
or has been rejected by the Joint Steering Committee shall remain a Library Compound for purposes of this Agreement. 
 2.2.6.
Acceptance as an Actual Compound. In the event that Novartis does not provide Infinity with a Non-Acceptance Notice in respect of a particular Proposed Compound within the relevant Non-Acceptance Notice Period, such Proposed Compound, upon
expiration of the Non-Acceptance Notice Period, shall automatically be deemed to be an Actual Compound. 
 2.2.7. Diligence
Obligations. Prior to the [**] anniversary of the Effective Date, Infinity shall synthesize and deliver to Novartis [**] Actual Compounds; provided, however, that should Infinity not deliver [**] Actual Compounds to Novartis by
such anniversary date, then Infinity shall not be in breach of this diligence obligation; provided further that Infinity shall continue using commercially reasonable efforts to synthesize Actual Compounds thereafter until Infinity
shall have synthesized and delivered [**] Actual Compounds to Novartis, unless otherwise agreed upon in writing between the Parties. 
 2.2.8. Payment for Actual Compounds. Upon submission by Infinity of a corresponding invoice, Novartis shall pay Infinity U.S.$[**] per Actual Compound, which amount shall be payable within [**] calendar days of receipt of such
invoice; provided, however, that in each case, Infinity shall not submit any invoices (other than the final invoice of the Collaboration) until the aggregate amount owed by Novartis equals or exceeds U.S.$[**]. 
 2.3. Joint Steering Committee. 
 2.3.1. Composition. Upon execution of this Agreement, Infinity and Novartis will establish a Joint Steering Committee (the “Joint Steering Committee”), which shall consist of an equal number of executives or
scientists as may be designated by each Party from time to time. The Joint Steering Committee shall initially have six (6) members. The Committee Chair will be appointed from among the members of the Joint Steering Committee designated by
Novartis. 
  

 Collaboration Agreement — Confidential – Page 10 

 2.3.2. Meetings; Purposes. The Joint Steering Committee shall hold its first meeting within
thirty (30) calendar days after the Effective Date. At its first meeting, the Joint Steering Committee shall outline a process to ensure that the first Synthetic Pathway(s), the scope of the resulting Library Compounds and the Proposed
Compounds to be synthesized by Infinity from such Synthetic Pathways are approved as quickly as possible so that Infinity can initiate synthesis of such Proposed Compounds. Thereafter, the Joint Steering Committee shall meet quarterly, or with such
other frequency, and at such times, as may be established by the Joint Steering Committee, at the offices of Infinity in Cambridge, Massachusetts or Novartis in Basel, Switzerland or Cambridge, Massachusetts (provided that no more than one
meeting per calendar year shall be held in Basel, Switzerland without the consent of the Parties), for the following purposes: 
 (a)
Determining the number of Synthetic Pathways, 
 (b) Determining the design of Synthetic Pathways, Scaffolds, the resulting Library
Compounds, and the Proposed Compounds to be synthesized by Infinity; 
 (c) Ensuring that Library Compounds will be designed so as not to
overlap with compounds then in, or under development for, either Party’s (or its Affiliates’) compound collections outside of the Collaboration; 
 (d) Determining the Lead Criteria and the Data Package, on a Target by Target basis, for each Target screened by Infinity pursuant to Article III for which the Option applies (it being understood that such
determinations shall be made, whenever possible, at regularly scheduled meetings of the Joint Steering Committee, but in no event more than [**] days after Infinity has proposed such Target to Novartis in writing; and provided,
however, that if the Lead Criteria and Data Package are not determined within such [**] day period, then the criteria specified in Sections 3.3.2 and 3.3.3, respectively, shall apply); 
 (e) Providing general oversight of the entire Collaboration between Infinity and Novartis, including periodic review of the overall goals and strategy
of the Collaboration; 
  

 Collaboration Agreement — Confidential – Page 11 

 (f) Attempting to resolve any disagreement between the Parties hereunder, including disputes relating to
an assertion pursuant to a Non-Acceptance Notice that a Proposed Compound has failed to meet Acceptance Criteria, and discussion and resolution, if possible, of any other deadlocked issues submitted to it; 
 (g) Addressing any matters raised under relevant provisions of the License Agreement; 
 (h) With respect to a Lead Series which is subject to the Option, determining whether Infinity shall have the right, if Infinity requests such right, to
file Patent applications, under Infinity’s name and at Infinity’s expense, directed to such Lead Series, including any Actual Compounds in such Lead Series, prior to the expiration of the [**] day Option exercise period or Novartis’
declining the Option for such Lead Series, it being understood that: (i) Novartis and Infinity shall cooperate in the drafting and filing of such Patent application; (ii) such Patent application shall be subject to the conditions set forth
in Section 3.2.3 (except if Novartis shall decide otherwise); and (iii) if Novartis exercises its Option with respect to such Lead Program, such Patent applications shall be assigned to Novartis, and Infinity shall cause its Affiliates,
employees and/or consultants to so assign such Patent applications; 
 (i) Determining whether HPLC-MS UV at 210 nm is the appropriate
purity detection method for a synthesized compound described in Sections 2.2.4(b), 3.3.2(a) or 3.3.4(c); 
 (j) Determining whether to
protect (through filing for and maintenance of intellectual property protection and/or the enforcement or defense thereof, as applicable) the Compound Related Intellectual Property; and 
 (k) Making any changes to the Acceptance Criteria set forth in Section 2.2.4. 
 2.4. Decisions of the Joint Steering Committee; Resolution of Disputes. 
 2.4.1. The Joint Steering Committee shall make decisions unanimously where possible, but at least by majority vote, with respect to the matters
described in Sections 2.3.2(d), (h) and (j). In the event of a deadlock with respect to such matters, Novartis shall have the deciding vote. 
  

 Collaboration Agreement — Confidential – Page 12 

 2.4.2. The unanimous vote of the Joint Steering Committee shall be required in order to make
decisions with respect to the matters described in Sections 2.3.2(a), (b), (c), (e), (f), (i) and (k). In the event that the Joint Steering Committee is deadlocked as to any of these issues, then the Parties may have the issue referred to the
Chief Scientific Officer of Infinity and the Vice President of Global Discovery Chemistry of the Novartis Institutes for BioMedical Research, Inc. (or their equivalent) for good faith resolution. Notwithstanding the foregoing, with respect to
Section 2.3.2(c), in no event shall either Party have the right to force the other Party to accept the design of a Synthetic Pathway or Scaffold which such other Party represents would overlap with compounds then in, or under development for,
such other Party’s (or its Affiliates’) compound collections outside of the Collaboration. 
 2.4.3. The unanimous vote of
the Joint Steering Committee shall be required in order to make decisions with respect to the matter described in Section 2.3.2(g). In the event that the Joint Steering Committee is deadlocked as to this issue, then the Parties may have the
issue referred to the Chief Executive Officer of Infinity and the President of the Novartis Institutes for BioMedical Research, Inc. (or their equivalent) for good faith resolution. 
 2.5. Additional Assistance by Infinity. 
 2.5.1. Third Party Improvements. In the event that a Third Party, for or on behalf of Infinity, makes any improvements to reagents, materials, and the like which are necessary for Novartis to synthesize an Actual Compound,
Infinity shall, at no cost to Novartis, grant Novartis any required permissions or licenses from Infinity to use such improvements to the extent Infinity Controls such improvements and will use reasonable efforts to help Novartis secure access to
such improvements from such Third Party on business terms comparable to those afforded Infinity. 
 2.5.2. Hosting of Novartis
Scientists. Infinity shall, [**], provide work space and support on its premises for up to [**] Novartis scientists for an aggregate of up to [**] calendar days each (it being understood that such period shall refer to the total number of days
each scientist is hosted on the Infinity premises, and not necessarily a period of [**] consecutive calendar days), in increments of at least [**] calendar days per visit, in order to assist Novartis in 

  

 Collaboration Agreement — Confidential – Page 13 

 
connection with the resynthesis of Actual Compounds; provided that Novartis shall reimburse Infinity for any reasonable, documentable expense for
reagents and consumables used by such Novartis scientists in connection with such resynthesis. Each such visit by a Novartis scientist shall be scheduled at least [**] weeks in advance. 
 2.5.3. Provision of Infinity Chemist. At the request of Novartis and on Novartis’ premises, Infinity shall provide a chemist,
reasonably acceptable to Novartis, for up to [**] per Synthetic Pathway, to assist Novartis with the resynthesis of Actual Compounds related to such Synthetic Pathway. The provision of such chemist shall be [**], provided that Novartis shall
reimburse Infinity for any reasonable, documentable out-of-pocket and travel expenses incurred by such chemist in connection therewith. Each such visit by an Infinity chemist shall be scheduled at least [**] weeks in advance. 
 2.6. Exchange of Information. 
 2.6.1. Status of Collaboration. Infinity and Novartis will share information with the Joint Steering Committee, no less frequently than at the quarterly meetings of the Joint Steering Committee, reasonably necessary to
facilitate mutual understanding of the status of the Collaboration and decision-making in connection therewith. 
 2.6.2. Misuse of
Background Intellectual Property. Neither Party shall use the Background Intellectual Property of the other (excluding information which is no longer subject to confidentiality restrictions under Article IV by reason of the exceptions set forth
in Sections 4.2(a), (c), (d) and (e)) for any purpose, including the filing of Patents containing such information, without the other Party’s written consent, other than for carrying out the Collaboration or discharging its
responsibilities under the License Agreement, or as otherwise permitted hereunder or under the License Agreement. 
 2.6.3.
Restrictions on Rights. Neither Party shall be entitled to receive information from the other Party concerning Intellectual Property discovered or developed by that Party outside the Collaboration or otherwise unrelated to design and
synthesis of Synthetic Pathways, Scaffolds, Library Compounds, or Lead Programs under this Agreement or the 

  

 Collaboration Agreement — Confidential – Page 14 

 
License Agreement; except that, with respect to each Proposed Compound, Infinity shall also disclose to Novartis in a timely manner any and all
Intellectual Property (including, without limitation, know-how and/or technology which it discovers or develops regarding the Synthetic Pathways and/or Scaffolds) which Infinity used to synthesize such Proposed Compound. 
 2.7. Exclusivity; Freedom of Action. 
 Infinity will collaborate on the Synthetic Pathways with Novartis solely. For the avoidance of doubt, and except as otherwise set forth in this Agreement or the License Agreement, either Party and any of its Affiliates shall be free, alone
or together with Third Parties, to pursue the identification, development or commercialization of chemical entities that modulate any Target, free of any obligation to the other Party not expressly stated in this Agreement or the License Agreement
(but subject to any Intellectual Property rights of such other Party not expressly granted in this Agreement or the License Agreement). 
 ARTICLE III 
 INTELLECTUAL PROPERTY RIGHTS; 
 OPTION TO DEVELOP AND COMMERCIALIZE 
 3.1. Use Rights with Respect to Library Compounds. 
 3.1.1. Novartis’ Ownership and Use Rights with Respect to Library Compounds. Novartis shall be the sole owner of all Actual Compounds, including Infinity Compounds. Subject to the other terms and
conditions of this Agreement, Novartis and its Affiliates shall have the right, alone or with Third Parties, to make, use, sell, offer to sell, export, import, license and distribute any and all Library Compounds for research, development, and
commercialization purposes; provided that during the term of this Agreement, Novartis and its Affiliates may not sell, offer to sell, export, import, license or distribute the Library Compounds as libraries per se. Notwithstanding the
foregoing, a sale, an offer for sale, an exportation, an importation, a license or a distribution of the Library Compounds as part of a larger asset transfer or transaction shall not be deemed “a sale, an offer for sale, an exportation, an
importation, a license or a distribution as a library” hereunder. 
  

 Collaboration Agreement — Confidential – Page 15 

 3.1.2. Infinity’s Use Rights with Respect to Library Compounds. 
 (a) Subject to the other terms and conditions of this Agreement (including, without limitation, Section 3.3.5), Infinity shall have the right to
screen Library Compounds against any Target; provided that Infinity may not sell or otherwise provide such Library Compounds to any Third Party (except that Infinity may (i) provide Library Compounds to subcontractors working on
Infinity’s behalf to fulfill Infinity’s obligations under this Agreement and (ii) sell, license or otherwise distribute to Third Parties Library Compounds specifically identified as included in a Lead Program with respect to a Target
(other than a Novartis Reserved Target) for which Novartis has declined its Option, for which the relevant [**] day Option exercise period has expired, or for which Novartis does not have an Option). 
 (b) Prior to the [**] anniversary of the Effective Date or the [**] anniversary of the acceptance by Novartis of the [**] Actual Compound, whichever is
later (the “Threshold Date”), Infinity shall be restricted with respect to screening Library Compounds, as follows: 
  

	 	(i)	Infinity shall offer all Lead Programs to Novartis pursuant to the Option. 

  

	 	(ii)	Prior to screening, Infinity must disclose the Target proposed to be screened or the other screening efforts to be undertaken, as applicable, in writing to a Novartis representative
selected by the Joint Steering Committee. In the event that such screening efforts are not directed to a particular Target, then Infinity shall notify the Novartis representative selected by the Joint Steering Committee promptly upon the
identification of the modulated Target(s) resulting from such screening efforts, and the conditions set forth in Section 3.3 shall apply regardless of when such Target(s) is identified. 

  

 Collaboration Agreement — Confidential – Page 16 

	 	(iii)	If, at the time of disclosure, Novartis has a discovery program or proposed program regarding the proposed Target, or if Novartis is screening or otherwise committing scientific
effort and resources to study the Target which effort and resources are consistent with Novartis’ other Target programs or is planning to screen or otherwise study the Target during the next [**] months, then Novartis will so notify Infinity in
writing within [**] calendar days after such disclosure that the proposed Target of such screening is a “Novartis Reserved Target,” in which case the provisions of Section 3.3.5(b) with respect to Novartis Reserved Targets
shall apply. 

 (c) For the avoidance of doubt, Lead Programs resulting from screening Library Compounds prior to the
Threshold Date shall be subject to Sections 3.3.5. 
 3.2. Patent Rights and License Grants with Respect to Library Compounds, Actual
Compounds and Infinity Compounds. 
 3.2.1. Patent Rights and License Grants to Library Compounds that are not Actual Compounds
or Infinity Compounds. At any time, either Party or its Affiliates may file or obtain Patents with respect to claims (specific or generic) covering Library Compounds that are not Actual Compounds or Infinity Compounds (including claims as to the
use or manufacture thereof), subject to an automatic grant to the other Party and its Affiliates under such Patents of a worldwide, perpetual (subject to the last sentence of this Section 3.2.1), non-exclusive, fully-paid, royalty-free license
(with the right to sublicense) to conduct research with respect to such Library Compounds in the Field, it being understood that the purpose of such research is the development of products in the Field. In the case of Library Compounds that are not
Infinity Compounds, Infinity shall automatically grant Novartis and its Affiliates, under the genus claims of Infinity’s composition of matter claims in such Patents covering such Library Compounds and their manufacture, a perpetual (subject to
the last sentence of this Section 3.2.1), worldwide, non-exclusive, fully-paid, royalty-free license (with right to sublicense), to research, develop, 

  

 Collaboration Agreement — Confidential – Page 17 

 
commercialize, make, use, manufacture, export, import, offer to sell and sell such Library Compounds in the Field (the “Genus License”);
provided, however, that: (a) this license shall not apply with respect to uses against any Target that was the basis of a Lead Program for which Novartis has declined to exercise its Option or for which the relevant [**] day
Option exercise period has expired; and (b) for such Infinity programs arising from screening Library Compounds after the Threshold Date (and therefore for which no Option applies), this license shall not apply with respect to Targets for which
one or more Library Compounds are exemplified in such Patents, by way of actual examples, to modulate such Targets as their primary mechanism of action. The foregoing licenses shall survive any termination or expiration of this Agreement, except if
such termination is caused by the breach of the Party receiving such license. 
 3.2.2. Patent Rights and License Grants with
Respect to Actual Compounds. Novartis or its Affiliates shall have the sole right to obtain Patents with respect to claims (whether specific or generic) covering Actual Compounds (including, without limitation, claims as to the manufacture or
use thereof) that are not Infinity Compounds (the “Compound Intellectual Property”), except as set forth in Section 2.3.2(h), subject to an automatic grant to Infinity and its Affiliates under such Patents of a perpetual,
worldwide, non-exclusive, fully-paid, royalty-free license (with the right to sublicense) to conduct research with respect to such Actual Compounds in the Field. The foregoing license shall survive any termination or expiration of this Agreement,
except if such termination is caused by Infinity’s breach. 
 3.2.3. Patent Rights and License Grants with Respect to Infinity
Compounds. In the event that Infinity designates an Actual Compound as an Infinity Compound pursuant to the terms of Section 3.4(b) or Section 3.5, as applicable, Novartis shall automatically assign to Infinity, for patenting purposes
only, Novartis’ rights in such Infinity Compound, and shall automatically grant Infinity and its Affiliates a worldwide, exclusive even as to Novartis, fully-paid, royalty-free license (with the right to sublicense) under its interest in the
Collaboration Intellectual Property to research, develop, commercialize, use, manufacture, import, export, offer to sell and sell such Infinity Compounds in the Field. Infinity shall have the sole right, at 

  

 Collaboration Agreement — Confidential – Page 18 

 
Infinity’s expense, to file, prosecute and maintain Patents with respect to claims covering Infinity Compounds (including claims as to the manufacture
or use thereof) (an “Infinity Compound Patent”); provided that: (i) each individual Infinity Compound Patent shall not claim Infinity Compounds (including claims as to the manufacture or use thereof) derived from more
than [**] Synthetic Pathway and shall respect the conditions set forth in Section 3.4(b)(i) through (v); and (ii) in the event an Infinity Compound Patent erroneously covers an Actual Compound, Infinity shall grant to Novartis and its
Affiliates under such Infinity Compound Patent a worldwide, exclusive even as to Infinity, fully-paid, royalty-free license (with right to sublicense) to research, develop, commercialize, use, manufacture, import, export, offer to sell and sell such
Actual Compounds in the Field, and the research license granted to Infinity pursuant to Section 3.2.2 shall not be applicable with respect to such Actual Compound. For the avoidance of doubt, any claims covering an Actual Compound: (a) in
a Lead Series which is subject to the Option for which the relevant [**] day Option exercise period has not yet expired nor been declined by Novartis shall not be considered erroneous if: (1) Infinity has been permitted the right to file and
obtain Patents with respect to such Lead Series pursuant to Section 2.3.2(h), and (2) Infinity designates such Actual Compounds as Infinity Compounds within [**] days after Novartis has declined its Option with respect to such Lead Series
or for which the relevant [**] day Option exercise period has expired; (b) in a Lead Series which was subject to the Option which Option Novartis had declined or for which the relevant [**] day Option exercise period has expired shall not be
considered erroneous if Infinity designates such Actual Compounds as Infinity Compounds pursuant to Section 3.4(b); or (c) with respect to Infinity’s screening activities directed at the Library Compounds which are conducted after the
Threshold Date shall not be considered erroneous if Infinity designates such Actual Compounds as Infinity Compounds pursuant to Section 3.5. In addition, Infinity shall automatically grant to Novartis and its Affiliates a worldwide,
non-exclusive, full-paid, royalty-free license (with the right to sublicense) under its interest in the Infinity Compound Patents, the Collaboration Intellectual Property and the Background Intellectual Property to conduct research with respect to
the relevant Infinity Compound in the Field. For the avoidance of doubt, the Genus License shall be applicable to its related Infinity Compound Patent with respect to claims covering Library 
  

 Collaboration Agreement — Confidential – Page 19 

 Compounds that are not Actual Compounds or Infinity Compounds. The foregoing licenses shall survive any termination or
expiration of this Agreement, except if such termination is caused by the breach of the Party receiving the license. 
 3.3. Option with
Respect to Lead Programs. 
 3.3.1. Exclusivity. For Lead Programs developed from screening Library Compounds prior to the
Threshold Date, Novartis shall have the exclusive right (the “Option”) to obtain a worldwide, exclusive license (with right to sublicense) on a Target-by-Target basis, to develop and commercialize any such Lead Program in the Field,
under the terms and conditions set forth in the License Agreement. 
 3.3.2. Lead Criteria. Prior to the Threshold Date, and
before Infinity commences screening a Target (or when a Target is identified as set forth in 3.1.2(b)(ii)), the Joint Steering Committee shall determine, pursuant to Section 2.3.2(d), the appropriate assays and criteria (the “Lead
Criteria”) that will trigger Novartis’ Option with respect to such Lead Program comprised of one or more Lead Series, such Lead Criteria to include at least the following: 
 (a) [**], as applicable, and purification (>[**]% purity by HPLC-MS UV 210 nm; in the event that the Joint Steering Committee determines that HPLC-MS
UV is not an appropriate detection method, then purity shall instead be determined by HPLC-MS ELSD), in each case, of at least [**] chemical entities per Lead Series; 
 (b) [**] in an enzymatic assay or other primary assay; 
 (c) [**] in a cellular or functional assay than
that found in the enzymatic assay or other primary assay; 
 (d) evidence of [**]; and 
 (e) evidence of [**]. 
 3.3.3.
Data Package. Infinity shall deliver to Novartis the following information and materials with respect to such Lead Program (collectively, the “Data Package”): 
 (a) Data evidencing achievement of all Lead Criteria set forth in Section 3.3.2; and 
  

 Collaboration Agreement — Confidential – Page 20 

 (b) The following data for the most potent compound of each Lead Series: (i) [**]; (ii) [**];
(iii) [**]; (iv) [**]and (v) [**]. 
 3.3.4. Exercise of an Option. 
 (a) Novartis shall have [**] calendar days after receipt of the Data Package in which to provide written notice to Infinity (the “Data Receipt
Notice”) as to whether the Data Package is complete and whether the Lead Criteria have been achieved with respect to the relevant Lead Program, each as reasonably determined by Novartis. If Novartis has not provided a Data Receipt Notice to
Infinity within such [**] day period, the Data Package shall be deemed to be complete and the Lead Criteria shall be deemed to have been achieved with respect to the Lead Program. 
 (b) If Novartis reasonably determines that the Data Package is incomplete or that the Lead Criteria have not been achieved, then Infinity may perform
additional research as necessary and resubmit the Data Package; provided that Novartis shall have additional [**] calendar day periods to evaluate each such resubmission. 
 (c) If Novartis determines that the Data Package is complete and that the Lead Criteria have been achieved, then, in the Data Receipt Notice, Novartis
may select chemical entities in each Lead Program as set forth in 3.3.2(a) for synthesis (up [**] milligrams of purified material) and delivery by Infinity to Novartis for further biological testing which may include the following:
(i) confirmation of activity in primary and cellular systems; (ii) hERG channel inhibition using patch clamp assay; (iii) in vivo efficacy and PK; (iv) detailed metabolism studies; and (v) other studies at Novartis’
discretion. In addition, Infinity will provide access to screening data, if required by Novartis. Within [**] business days after receipt of the request, Infinity will provide Novartis with a quote for the expected length of time and the cost to
provide each such chemical entity. Infinity will base such quotation on an FTE rate of U.S.$[**] per month to synthesize and deliver such chemical entities and in no case shall the quotation exceed 

  

 Collaboration Agreement — Confidential – Page 21 

 
U.S.$[**] per chemical entity. Novartis shall have [**] calendar days in which to accept or reject such quote in writing. If Novartis does not accept such
quote within such [**] day period, Infinity shall have no obligation to synthesize such compounds and deliver the related information. If Novartis accepts such quote within such [**] day period, Infinity will use its commercially reasonable efforts
to provide such synthesized compounds within [**] weeks after receipt of Novartis’ written acceptance of such quote. Each such synthesized compound shall be greater than [**] percent ([**]%) pure as determined by HPLC-MS UV 210 nm. In the event
that the Joint Steering Committee determines that HPLC-MS UV is not an appropriate detection method, then purity shall instead be determined by HPLC-MS ELSD. With each such synthesized compound delivered, Infinity shall also contemporaneously
provide a certificate of analysis including the HPLC chromatogram, proton and carbon NMR spectra and detailed synthetic protocol used for the synthesis. 
 (d) It shall be the responsibility of the Novartis representatives of the Joint Steering Committee to communicate to Infinity if Novartis chooses, in its sole discretion, to exercise the Option. The Novartis
representatives of the Joint Steering Committee may involve other employees or consultants of Novartis and its Affiliates in this process, on a need-to-know basis and subject to the provisions of Article IV, as is reasonably necessary to determine
whether or not to exercise the Option. 
 (e) Novartis shall have [**] calendar days from receipt of the last requested samples meeting the
criteria described in subsection (c), or, if either no samples are requested or samples are requested but Novartis does not accept Infinity’s quote therefor pursuant to subsection (c), [**] calendar days from receipt of the Data Receipt Notice,
to exercise its Option with respect to the relevant Lead Program. Novartis may exercise such Option by delivery to Infinity of written notice of exercise, specifying the Lead Program as to which such Option is being exercised, in which case, once
the License Agreement is executed, Novartis shall have the exclusive right to file, prosecute and maintain Patents in its name covering inventions relating to the Lead Program as provided in the License Agreement. The Parties shall then promptly
execute the License Agreement, the terms of which, upon such execution, shall be incorporated 

  

 Collaboration Agreement — Confidential – Page 22 

 
by reference into, and shall be a part of, this Collaboration Agreement, pursuant to which terms, Infinity will grant Novartis and its Affiliates a
worldwide, exclusive even as to Infinity license (with the right to sublicense), to develop and commercialize the Lead Program as an Optioned Lead Program under Infinity’s Background Intellectual Property and under Infinity’s rights and
interest in the Collaboration Intellectual Property in the Field. If an Option has previously been exercised with respect to another Lead Program and a License Agreement is in effect with respect to that Lead Program, then the License Agreement will
be amended to reflect the addition of another Lead Program as an Optioned Lead Program. 
 3.3.5. Restrictions on Commercialization
or Partnering. 
 (a) Any Target. Until such time as Novartis affirmatively declines its Option for a Lead Program, or until the
expiration of the relevant [**] day Option exercise period, whichever comes first, Infinity shall not, subject to Section 2.3.2(h), file any Patent covering such Lead Program, commercialize such Lead Program or collaborate with a Third Party
(except subcontractors working on Infinity’s behalf in connection with its obligations hereunder) with respect to the development or commercialization of such Lead Program. 
 (b) Novartis Reserved Targets. If Novartis does not exercise its Option for a Lead Program with respect to any Target that is a Novartis Reserved
Target, then Infinity shall not, subject to Section 2.3.2(h), file any Patent covering such Lead Program (or otherwise shall assign such Patent to Novartis), or pursue further development or commercialization of such Lead Program, including any
Derivative Compounds of such Lead Program, whether alone or with a Third Party. 
 3.4. Declined Options on Targets Other Than Novartis
Reserved Targets. 
 If Novartis does not exercise its Option with respect to any Target that is not a Novartis Reserved Target during the
[**] day Option exercise period or Novartis affirmatively declines such Option, then the following shall apply: 
 (a) Upon request from
Infinity, Novartis shall provide Infinity any data it has generated in connection with evaluation of such Lead Program pursuant to Section 3.3.4(c), and 

  

 Collaboration Agreement — Confidential – Page 23 

 
shall automatically grant to Infinity a non-exclusive license to use such data for research, development and commercialization purposes, and shall return to
Infinity any remaining amounts of compounds that had been provided by Infinity under Section 3.3.4(c) for evaluation of such Lead Program. 
 (b) Prior to initiating further lead optimization activities with respect to such Lead Program or from time to time thereafter during the term of this Agreement, and to the extent necessary to protect Infinity’s intellectual property
rights in such Lead Program, Infinity may select and designate Actual Compounds within such Lead Program as “Infinity Compounds,” provided that Infinity notifies Novartis of the same in writing and provides Novartis an
electronic data file containing each such proposed Infinity Compound and Novartis has not, within [**] days of such notification, represented to Infinity in writing that such Actual Compounds are already covered, specifically or generically, by a
Novartis Patent claiming inventions created before Novartis’ receipt of the Data Package for such Lead Program; and provided, further, that: 
  

	 	(i)	Prior to the [**] anniversary of the Effective Date, there shall be no more than [**] Infinity Compounds at any time; 

  

	 	(ii)	After the [**] but prior to the [**] anniversary of the Effective Date, there shall be no more than [**] Infinity Compounds at any time; 

  

	 	(iii)	After the [**] anniversary of the Effective Date, there shall be no more than [**] Infinity Compounds at any time (including after the Threshold Date); 

  

	 	(iv)	In no event may more than [**] Infinity Compounds be derived from any single Synthetic Pathway (including after the Threshold Date); and 

  

	 	(v)	Infinity may redesignate Infinity Compounds as Actual Compounds by providing written notice and an electronic data file containing each such Infinity Compound of the same to
Novartis, in which case the total number of Infinity Compounds shall be reduced by those redesignated as Actual Compounds. 

  

 Collaboration Agreement — Confidential – Page 24 

 (c) For purposes of clarity, Infinity Compounds also remain Actual Compounds. 
 3.5. Designation of Infinity Compounds During the Term of this Agreement and After The Threshold Date. 
 Infinity may select and designate as Infinity Compounds those Actual Compounds necessary to protect Infinity’s intellectual property rights in lead
optimization efforts resulting from screening activities directed at the Library Compounds which are conducted after the Threshold Date; provided that Infinity notifies Novartis of the same in writing and provides Novartis an electronic data
file containing each such proposed Infinity Compound and Novartis has not, within [**] days of such notification, represented to Infinity in writing that such Actual Compounds are already covered, whether with generic or specific claims, by a Patent
Controlled by Novartis or its Affiliates that was filed before Novartis’ receipt of such notification; and provided further that there shall be neither more than [**] Infinity Compounds at any time nor shall more than [**]
Infinity Compounds be derived from any single Synthetic Pathway. Infinity may redesignate Infinity Compounds as Actual Compounds by providing written notice and an electronic data file containing each such Infinity Compound of the same to Novartis,
in which case the total number of Infinity Compounds shall be reduced by those redesignated as Actual Compounds. 
 3.6. No Designation of
Infinity Compounds After the Term of this Agreement. 
 After expiration or termination of this Agreement, (a) Infinity shall no
longer have the right to select and designate any Actual Compounds as Infinity Compounds, and (b) Infinity shall not patent (whether with generic or specific claims) any Actual Compounds. After expiration or termination of this Agreement,
Infinity shall have the right to screen Library Compounds against any Target; provided that Infinity may not sell or otherwise provide such Library Compounds to any Third Party (except to subcontractors working on Infinity’s behalf).

  

 Collaboration Agreement — Confidential – Page 25 

 ARTICLE IV 
 CONFIDENTIALITY 
 4.1. Undertaking. 
 During the term of this Agreement, each Party (the “Receiving Party”) shall keep confidential, and other than as provided herein shall
not use or disclose, directly or indirectly, any trade secrets, confidential or proprietary information, or any other knowledge, information, documents or materials, disclosed to the Receiving Party by the other Party (the “Proprietary
Party”), whether in tangible or intangible form, the confidentiality of which such Proprietary Party takes reasonable measures to protect, including but not limited to Collaboration Intellectual Property. 
 (a) The Receiving Party shall take any and all lawful, reasonable measures to prevent the unauthorized use and disclosure of such information, and to
prevent unauthorized Persons from obtaining or using such information. With the prior written consent of the Proprietary Party, the Receiving Party may, however, use and disclose such information to exercise its rights to file, prosecute and
maintain Patents within the Collaboration Intellectual Property as permitted by this Agreement. 
 (b) The Receiving Party further agrees to
refrain from directly or indirectly taking any action which would constitute or facilitate the unauthorized use or disclosure of such information. The Receiving Party may disclose such information to its Affiliates, officers, employees and agents,
to authorized licensees and sublicensees, and to subcontractors in connection with the Receiving Party’s obligations hereunder, to the extent necessary to enable such Persons to perform their obligations hereunder or under the applicable
license, sublicense or subcontract, as the case may be; provided that such Affiliates, officers, employees, agents, licensees, sublicensees and subcontractors have entered into appropriate confidentiality agreements for secrecy and non-use of
such information which by their terms shall be enforceable by injunctive relief. In the event any such Persons violate such agreements with respect to such information, the Receiving Party shall enforce such agreements. 
  

 Collaboration Agreement — Confidential – Page 26 

 (c) The Receiving Party shall be liable for any unauthorized use and disclosure of such information by
its Affiliates, officers, employees and agents and any such licensees, sublicensees and subcontractors. 
 4.2. Exceptions.

 Notwithstanding the foregoing, the provisions of Section 4.1 shall not apply to knowledge, information, documents or materials
that the Receiving Party can conclusively establish: 
 (a) were generally available to the public at the time of disclosure or become
generally available to the public without the Receiving Party’s breach of any obligation owed to the Proprietary Party; 
 (b) are
permitted to be disclosed by the prior written consent of the Proprietary Party; 
 (c) were known by the Receiving Party at the time of
disclosure, or have become known to the Receiving Party from a source other than the Proprietary Party, other than by breach of an obligation of confidentiality owed to the Proprietary Party; 
 (d) are disclosed by the Proprietary Party to a Third Party without restrictions on its disclosure; 
 (e) are independently developed by the Receiving Party without breach of this Agreement or any other confidentiality agreement between the Parties or
between a Party and an Affiliate of the other Party, without reference to or reliance upon knowledge, information or materials of the Proprietary Party; or 
 (f) are required to be disclosed by the Receiving Party to comply with applicable laws or regulations, to submit registration filings, to defend or prosecute litigation or patents or to comply with governmental
regulations, provided that the Receiving Party provides prior written notice of such disclosure to the Proprietary Party and takes reasonable and lawful actions to avoid or minimize the degree of such disclosure. 
  

 Collaboration Agreement — Confidential – Page 27 

 4.3. Publicity. 
 The Parties have agreed upon the timing and content of the initial press release relating to this Agreement and the transactions contemplated herein. The Parties will agree upon the timing and content of any other
press release or other public communications relating to this Agreement and the transactions contemplated herein. 
 Except to the extent
already disclosed in that initial press release or other public communication, no public announcement concerning the existence or the terms of this Agreement or concerning the transactions described herein shall be made, either directly or
indirectly, by Infinity or Novartis, except as may be legally required by applicable laws, regulations, or judicial order, without first obtaining the approval of the other Party and agreement upon the nature, text, and timing of such announcement.

 The Party desiring to make any such public announcement shall provide the other Party with a written copy of the proposed announcement in
sufficient time prior to public release to allow such other Party to comment upon such announcement, prior to public release. 
 Notwithstanding the foregoing, either Party may disclose: (a) to bona fide potential or actual licensees or sublicensees only those terms of this Agreement that are reasonably necessary to disclose in connection with a license or
sublicense as permitted this Agreement; and (b) to bona fide potential or actual investors, lenders, investment bankers, acquirors, acquirees, or merger partners, and to such Party’s consultants and advisors, only those terms of this
Agreement that are reasonably necessary in connection with a proposed equity or debt financing, acquisition or business combination of such Party. 
 4.4. Survival. 
 The provisions of this Article IV shall survive for [**] years after the termination or expiration of this
Agreement. 
  

 Collaboration Agreement — Confidential – Page 28 

 4.5. Equitable Relief. 
 The Receiving Party agrees that any breach of this Article IV may cause the Proprietary Party substantial and irreparable injury and, therefore, in the
event of any such breach, in addition to other remedies that may be available, the Proprietary Party shall have the right to specific performance and other injunctive and equitable relief. 
 ARTICLE V 
 PUBLICITY 
 Each of Novartis and Infinity, and their respective Affiliates, agree not to publish or publicly present any results, data, or scientific findings with
respect to the Collaboration without the prior written consent of the Joint Steering Committee; provided, however, that, either Party may, without such consent, file and prosecute Patent applications as permitted by this Agreement. In
the event of information already within the public domain, consent shall not be unreasonably withheld if sought at least [**] calendar days prior to planned submission for publication or oral presentation. In all other instances during the term of
this Agreement, publication shall be presumed to be impermissible until the Joint Steering Committee shall have determined, in its sole judgment, that all intellectual property rights shall have been adequately protected, whether by filing of
Patents or otherwise. 
 ARTICLE VI 
 INDEMNIFICATION 
 6.1. Indemnification by Infinity. 
 Infinity will indemnify, defend, and hold Novartis and its Affiliates, their respective employees, shareholders, officers and directors and the
successors, heirs and assigns of each of them, harmless against any loss, damages, action, suit, claim, demand, liability, expense, bodily injury, death or property damage (a “Loss”), that may be brought, instituted or arise against
or be incurred by such Persons to the extent such Loss results from a Third Party claim based on or arising out of: 
  

 Collaboration Agreement — Confidential – Page 29 

 (a) the development, manufacture, use, sale, storage or handling of a Library Compound or Derivative
Compound by Infinity or its Affiliates or their representatives, agents, licensees, sublicensees or subcontractors, or any actual or alleged violation of law resulting therefrom; or 
 (b) the breach by Infinity of any of its covenants, representations or warranties set forth in this Agreement; 
 (c) provided that the foregoing indemnification shall not apply to any Loss to the extent such Loss is caused by the negligent or willful
misconduct of Novartis or its Affiliates or their representatives, agents, licensees, sublicensees or subcontractors. 
 6.2.
Indemnification by Novartis. 
 Novartis will indemnify, defend, and hold Infinity, and its Affiliates, and their respective employees,
shareholders, officers and directors and the successors, heirs, and assigns of each of them, harmless against any Loss that may be brought, instituted or arise against or be incurred by such Persons to the extent such Loss results from a Third Party
claim based on or arising out of: 
 (a) the development, manufacture, use, sale, storage or handling of a Library Compound or Derivative
Compound by Novartis or its Affiliates or their representatives, agents, licensees, sublicensees or subcontractors, or any actual or alleged violation of law resulting therefrom; or 
 (b) the breach by Novartis of any of its covenants, representations or warranties set forth in this Agreement; 
 (c) provided that the foregoing indemnification shall not apply to any Loss to the extent such Loss is caused by the negligent or willful
misconduct of Infinity or its Affiliates or their representatives, agents, licensees, sublicensees or subcontractors. 
  

 Collaboration Agreement — Confidential – Page 30 

 6.3. Claims Procedures. 
 Each party entitled to be indemnified by the other party (an “Indemnified Party”) pursuant to Sections 6.1 or 6.2 shall give notice to
the other party (an “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any threatened or asserted claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the
defense of any such claim or any litigation resulting therefrom; provided that: 
 (a) Counsel for the Indemnifying Party, who shall
conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld) and the Indemnified Party may participate in such defense at such party’s
expense (unless: (i) the employment of counsel by such Indemnified Party has been authorized by the Indemnifying Party; or (ii) the Indemnified Party shall have reasonably concluded that there may be a conflict of interest between the
Indemnifying Party and the Indemnified Party in the defense of such action, in each of which cases the Indemnifying Party shall pay the reasonable fees and expenses of one law firm serving as counsel for the Indemnified Party, which law firm shall
be subject to approval, not to be unreasonably withheld, by the Indemnifying Party); 
 (b) The failure of any Indemnified Party to give
notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Agreement to the extent that the failure to give notice did not result in harm to the Indemnifying Party; 
 (c) No Indemnifying Party, in the defense of any such claim or litigation, shall consent to entry of any judgment or enter into any settlement, except
with the approval of each Indemnified Party (which approval shall not be unreasonably withheld), except a settlement which imposes only a monetary obligation on the Indemnifying Party and which includes as an unconditional term thereof the giving of
a release from all liability in respect to such claim or litigation by the claimant or plaintiff to the Indemnified Party; 
 (d) Each
Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and shall be reasonably required in connection with the defense of such claim and litigation
resulting therefrom; and 
  

 Collaboration Agreement — Confidential – Page 31 

 (e) In the event a claim is based partially on an indemnified claim described in Sections 6.1 or 6.2 and
partially on a non-indemnified claim, or is based partially on a claim indemnified by one Party and partially on a claim indemnified by the other Party pursuant to Sections 6.1 and 6.2, any payments and reasonable attorney fees incurred in
connection with such claims are to be apportioned between the Parties in accordance with the degree of cause attributable to each Party. 
 6.4. Compliance. 
 The Parties shall comply fully with all applicable laws and regulations in connection with their
respective activities under this Agreement. 
 ARTICLE VII 
 PATENTABLE INVENTIONS 
 7.1. Ownership and Licenses. 

7.1.1. Background Intellectual Property. 
 (a) As between the Parties, all: (i) Intellectual Property Controlled by a Party which is obtained independently from this Agreement (whether before or during the term of this Agreement); and (ii) all
inventions solely made and all know-how or other Intellectual Property solely generated by such Party or its Affiliates in the course of the Collaboration but not including Compound Related Intellectual Property, Compound Intellectual Property and
Non-Compound Related Intellectual Property (collectively, “Background Intellectual Property”) shall be owned by such Party. 
 (b) The foregoing notwithstanding, to the extent that use of the Background Intellectual Property of one Party is necessary to the other Party to carry out the purposes of the Collaboration or to exploit such other Party’s rights in
Library Compounds consistent with its 

  

 Collaboration Agreement — Confidential – Page 32 

 
other rights set forth herein, then the Party Controlling such Background Intellectual Property hereby grants to the other Party and its Affiliates a
worldwide, non-exclusive, royalty-free license (with right to sublicense) to such use in the Field. 
 7.1.2. Compound Related
Intellectual Property. Each Party shall have an undivided half-interest, independent of inventorship and without a duty to account, in all inventions made and know-how or other Intellectual Property generated solely or jointly by the Parties
and/or its Affiliates in connection with the Collaboration and specifically relating to the Library Compounds, but not including the Library Compounds themselves or any uses thereof (collectively, “Compound Related Intellectual
Property”). Should the Joint Steering Committee determine that Patents should be filed covering Compound Related Intellectual Property pursuant to Section 2.3.2(j), then the Parties shall determine which of them (including their
Affiliates) shall be responsible for filing, prosecuting and maintaining such Patents (for purposes of this Section 7.1.2, the “Patenting Party”) at its own expense, and the other Party and/or its Affiliates (for purposes of
this Section 7.1.2, the “Non-Patenting Party”) shall automatically assign (and shall cause its Affiliates, employees and consultants to assign) to the Patenting Party its rights in such Patents, and the Patenting Party shall
automatically grant to the Non-Patenting Party and its Affiliates a worldwide, non-exclusive (with the right to sublicense), fully-paid, royalty-free license under any such Patents to the extent not inconsistent with the licenses, rights, and
obligations set forth herein. 
 7.1.3. Non-Compound Related Intellectual Property. Each Party shall have an undivided
half-interest, independent of inventorship and without a duty to account, in all inventions solely or jointly made and all know-how or other Intellectual Property solely or jointly generated by Infinity and/or its Affiliates, on the one hand, and
Novartis and/or its Affiliates, on the other hand, in the course of the Collaboration but not including Compound Related Intellectual Property and Compound Intellectual Property (collectively, “Non-Compound Related Intellectual
Property”). The Party which does not first choose to patent (under its name or through its Affiliates) a patentable invention within Non-Compound Related Intellectual Property (for purposes of this Section 7.1.3, the
“Non-Patenting Party”) shall 

  

 Collaboration Agreement — Confidential – Page 33 

 
automatically assign (and shall cause its Affiliates, employees and consultants to assign) to the other Party (for purposes of this Section 7.1.3, the
“Patenting Party”) its rights in such patentable invention and the Patenting Party shall automatically grant to the Non-Patenting Party and its Affiliates a worldwide, non-exclusive (with the right to sublicense), fully-paid,
royalty-free license under any Patents covering such invention. 
 7.1.4. Preparation and Costs. Infinity or its Affiliates
shall take responsibility and pay for the preparation, filing, prosecution and maintenance of all Patents with respect to: (a) any Library Compounds which are not Actual Compounds (including the manufacture and use thereof) it chooses to
patent; and (b) the Infinity Compounds it chooses or is authorized to patent; (c) the Compound Related Intellectual Property that it chooses to Patent; and (d) the Non-Compound Related Intellectual Property it chooses to patent; and
Novartis or its Affiliates shall take responsibility and pay for the preparation, filing, prosecution and maintenance of all Patents with respect to: (i) any Library Compounds (including, without limitation, Actual Compounds which are not
Infinity Compounds, and Optioned Lead Programs and the manufacture and use thereof) it chooses to patent; and (ii) Compound Related Intellectual Property that it chooses to patent; and (iii) the Non-Compound Related Intellectual Property
it chooses to patent. 
 7.2. Discontinuation. 
 7.2.1. Should Infinity be responsible under Section 7.1 for the preparation, filing, prosecution and maintenance of a particular Patent within Collaboration Intellectual Property, it shall give at least
thirty (30) calendar days’ advance notice to Novartis of any decision to cease preparation, filing, prosecution and maintenance of that Patent in a jurisdiction listed on Schedule 7.2(a). Discontinuation may be elected on a
country-by-country basis or for Patents singly or in series. In such case, Novartis may elect at its sole discretion to continue preparation, filing (under the name of Novartis or its Affiliates), and prosecution or maintenance of the discontinued
Patent at its sole expense. 
 7.2.2. Should Novartis be responsible under Section 7.1 for the preparation, filing, prosecution
and maintenance of a particular Patent within Non-Compound Related Intellectual Property or Compound Related Intellectual Property, it shall give at least thirty (30)

  

 Collaboration Agreement — Confidential – Page 34 

 
calendar days’ advance notice to Infinity of any decision to cease preparation, filing, prosecution and maintenance of that Patent in a jurisdiction
listed on Schedule 7.2(b). Discontinuation may be elected on a country-by-country basis or for Patents singly or in series. In such case, Infinity may elect at its sole discretion to continue preparation, filing (under the name of Infinity or its
Affiliates), and prosecution or maintenance of the discontinued Patent at its sole expense. 
 7.3. Infringement. 
 Each Party shall notify the other promptly of any possible infringements, imitations or unauthorized possession, knowledge or use of the Collaboration
Intellectual Property or Background Intellectual Property which the Parties jointly own or which is exclusively licensed to such other Party pursuant to this Agreement. Each Party shall promptly furnish the other Party with full details of such
infringements, imitations or unauthorized possession, knowledge or use, and shall assist in preventing any recurrence thereof. 
 7.4. No
Implied Licenses. 
 Except as expressly provided in this Agreement, neither Party grants the other Party any rights or licenses under the
first Party’s Intellectual Property or Patents. 
 ARTICLE VIII 
 TERM AND TERMINATION 
 8.1.
Term. 
 This Agreement will extend for eight (8) years from the Effective Date, unless earlier terminated by either Party in
accordance with this Agreement, or unless extended by mutual agreement of the Parties. 
 8.2. Termination by Novartis for Cause.

 Upon written notice to Infinity, Novartis may at its sole discretion unilaterally terminate this Agreement upon the occurrence of any
of the following events (without prejudice to its rights to seek damages in connection with any such event): 
  

 Collaboration Agreement — Confidential – Page 35 

 (a) Infinity shall materially breach any of its material obligations under this Agreement, the License
Agreement, or the Stock Purchase Agreement, and such material breach shall not have been remedied or steps initiated to remedy the same to Novartis’ reasonable satisfaction, within ninety (90) calendar days after Novartis sends written
notice of breach to Infinity; 
 (b) Upon the insolvency or bankruptcy of Infinity, or upon Infinity’s ceasing to function as a going
concern by suspending or discontinuing its business for any reason except for interruptions caused by Force Majeure; or 
 (c) Upon a sale,
merger, consolidation, transfer, or other reorganization of Infinity in which: (i) substantially all of the assets of Infinity are transferred to a Third Party; or (ii) the holders of Infinity’s capital stock immediately prior to the
transaction hold less than a majority of the capital stock of the surviving entity subsequent to the transaction and the Person(s) which acquire the majority of the capital stock of the surviving entity have the right to elect, and are not
prohibited, whether by contract or otherwise, from electing a majority of the Board of Directors of the surviving entity. 
 In the event of
any valid termination under this Section 8.2, Novartis shall not be required to make any payments under Section 2.2.8 for a Proposed Compound unless such Proposed Compound had been deemed accepted as an Actual Compound pursuant to
Section 2.2.6 or Novartis has not returned to Infinity such Proposed Compound pursuant to Section 8.4(b). 
 8.3. Termination by
Infinity for Cause. 
 Infinity may at its sole discretion terminate this Agreement upon written notice to Novartis upon the occurrence of
any of the following events: 
 (a) Novartis shall materially breach any of its material obligations under this Agreement, the License
Agreement or the Stock Purchase Agreement and such material breach shall not have been remedied or steps initiated to remedy the same to Infinity’s reasonable satisfaction, within ninety (90) calendar days after Infinity sends written
notice of breach to Novartis; or 
  

 Collaboration Agreement — Confidential – Page 36 

 (b) Upon the insolvency or bankruptcy of Novartis, or upon Novartis’ ceasing to function as a going
concern by suspending or discontinuing its business for any reason except for interruptions caused by Force Majeure. 
 Notwithstanding the
foregoing, the Stock Purchase Agreement, the Investors’ Rights Agreement, and any License Agreement then in effect shall each continue in effect unless it is expressly terminated in accordance with its terms. 
 8.4. Effect of Termination. 
 (a)
Except where explicitly provided elsewhere herein, termination of this Agreement for any reason, or expiration of this Agreement, will not affect: (i) obligations which have accrued as of the date of termination or expiration;
(ii) obligations and rights which expressly are intended to survive termination or expiration of this Agreement, including obligations of confidentiality under Article IV; (iii) the survival of Sections 2.6.2, 3.1.1, 3.1.2(a), 3.1.2(b)
(unless Infinity terminates this Agreement pursuant to Section 8.3), 3.2.1, 3.2.2, 3.2.3, 3.3.5(b), 3.6, 7.1, 7.2, 7.3, 7.4, 8.4 and 9.3, and Article VI and X; (iv) the Option shall terminate upon termination of this Agreement by Infinity
pursuant to Section 8.3; and (v) the Stock Purchase Agreement, Investors’ Rights Agreement, and any License Agreement in effect upon the expiration or any termination of this Agreement shall each continue in effect unless it is
expressly terminated in accordance with its terms. 
 (b) Upon termination or expiration of this Agreement, Novartis shall delete structural
and related information with respect to Proposed Compounds for which Novartis has not paid the relevant fee set forth in Section 2.2.8 from Novartis’ databases and return all remaining Proposed Compound material which is not in
Novartis’ screening format. Novartis may continue to include such material in screens; provided, however, that Novartis shall not conduct research on such rejected Proposed Compounds nor determine the structure of such Proposed
Compound through any analytical or other methods. 
  

 Collaboration Agreement — Confidential – Page 37 

 ARTICLE IX 
 REPRESENTATIONS AND WARRANTIES 
 9.1. Representations
and Warranties of Infinity. 
 Infinity represents and warrants to Novartis as follows: 
 (a) Authorization. This Agreement has been duly executed and delivered by Infinity and constitutes the valid and binding obligation of Infinity,
enforceable against Infinity in accordance with its terms except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, bankruptcy, reorganization, moratorium and other laws relating to or affecting creditors’ rights
generally and by general equitable principles. The execution, delivery and performance of this Agreement have been duly authorized by all necessary action on the part of Infinity, its officers and directors. 
 (b) Infinity Controlled Rights. As of the Effective Date, Infinity owns or possesses adequate licenses or other rights to grant the licenses
under the Background Intellectual Property which Infinity Controls as of the Effective Date. To the actual knowledge of Infinity as of the Effective Date, Infinity’s practice, as of the Effective Date, of the Background Intellectual Property
which Infinity Controls as of the Effective Date does not infringe any Third Party Patent. The granting of an Option to Novartis hereunder does not violate any right of any Third Party. 
 9.2. Representations and Warranties of Novartis. 
 Novartis represents and warrants to Infinity as follows: 
 (a) Authorization. This Agreement has been
duly executed and delivered by Novartis and constitutes the valid and binding obligation of Novartis, enforceable against Novartis in accordance with its terms except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency,
bankruptcy, reorganization, moratorium and other laws 

  

 Collaboration Agreement — Confidential – Page 38 

 
relating to or affecting creditors’ rights generally and by general equitable principles. The execution, delivery and performance of this Agreement have
been duly authorized by all necessary action on the part of Novartis, its officers and directors. 
 (b) Novartis Controlled Rights.
As of the Effective Date, Novartis owns or possesses adequate licenses or other rights to grant the licenses under the Background Intellectual Property which Novartis Controls as of the Effective Date. 
 9.3. Disclaimer of Other Warranties. 
 EXCEPT AS EXPRESSLY PROVIDED IN SECTIONS 2.2.2, 3.4, 3.5, 9.1, 9.2 AND 10.15, EACH PARTY EXPRESSLY DISCLAIMS ANY OTHER WARRANTY, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND
FITNESS FOR A PARTICULAR PURPOSE. 
 ARTICLE X 
 MISCELLANEOUS PROVISIONS 
 10.1. Invoice Requirement.

 Any amounts payable to Infinity hereunder shall be made in U.S. dollars within sixty (60) calendar days after receipt by Novartis,
or its nominee designated for that purpose in advance by Novartis in writing to Infinity, of an invoice covering such payment. 
 10.2.
Governing Law and Jurisdiction. 
 This Agreement shall be governed and construed in accordance with the internal laws of the State of
Delaware. 
 10.3. Waiver. 
 No provision of this Agreement may be waived except in writing by both Parties. No failure or delay by either Party in exercising any right or remedy hereunder or under applicable law will operate as a waiver thereof, or a waiver of any
right or remedy on any subsequent occasion. 
  

 Collaboration Agreement — Confidential – Page 39 

 10.4. Force Majeure. 
 Neither Party will be in breach hereof by reason of its delay in the performance of or failure to perform any of its obligations hereunder, if that delay or failure is caused by strikes, acts of God or the public
enemy, riots, war, terrorism, incendiaries, interference by civil or military authorities, compliance with governmental priorities for materials, or any fault beyond its control or without its fault or negligence (“Force Majeure”).

 10.5. Severability. 
 Should one or more provisions of this Agreement be or become invalid, then the Parties shall attempt to agree upon valid provisions in substitution for the invalid provisions, which in their economic effect come so close to the invalid
provisions that it can be reasonably assumed that the Parties would have accepted this Agreement with those new provisions. If the Parties are unable to agree on such valid provisions, the invalidity of such one or more provisions of this Agreement
shall nevertheless not affect the validity of this Agreement as a whole, unless the invalid provisions are of such essential importance for this Agreement that it may be reasonably presumed that the Parties would not have entered into this Agreement
without the invalid provisions. 
 10.6. Government Acts. 
 In the event that any act, regulation, directive, or law of a country or its government, including its departments, agencies or courts, should make
impossible or prohibit, restrain, modify or limit any material act or obligation of the Parties under this Agreement, the Party, if any, not so affected, shall have the right, at its option, to suspend or terminate this Agreement as to such country,
if good faith negotiations between the Parties to make such modifications therein as may be necessary to fairly address the impact thereof, are not successful after a reasonable period of time in producing mutually acceptable modifications to this
Agreement. 
  

 Collaboration Agreement — Confidential – Page 40 

 10.7. Government Approvals. 
 Each Party will obtain any government approval required in its country of domicile to enable this Agreement to become effective, or to enable any payment
hereunder to be made, or any other obligation hereunder to be observed or performed. Each Party will keep the other informed of progress in obtaining any such government approval, and will cooperate with the other Party in any such efforts.

 10.8. Export Controls. 
 This Agreement is made subject to any restrictions concerning the export of materials and technology from the United States that may be imposed upon or related to either Party from time to time by the Government of the United States.
Furthermore, each Party agrees that it will not export, directly or indirectly, any technical information acquired from the other Party under this Agreement or any products using such technical information to any countries for which the United
States Government or any agency thereof at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so from the Department of Commerce or other agency of the United States
Government when required by applicable statute or regulation. 
 10.9. Assignment. 
 This Agreement may not be assigned or otherwise transferred by either Party without the prior written consent of the other Party; provided that
Novartis may assign this Agreement without the consent of Infinity: (i) to any of its Affiliates, if Novartis guarantees the full performance of its Affiliate’s obligations hereunder; or (ii) in connection with the transfer or sale of
all or substantially all of its (or a subsidiary or division’s) assets or business, or a controlling interest in its equity, or in the event of its merger or consolidation with another company. Any purported assignment in contravention of this
Section 10.9 shall, at the option of the nonassigning Party, be null and void and of no effect. No assignment shall release either Party from responsibility for the performance of any accrued obligation of such Party hereunder. This Agreement
shall be binding upon and enforceable against the successor to or any permitted assignees of either of the Parties. 
  

 Collaboration Agreement — Confidential – Page 41 

 10.10. Affiliates and Subcontractors. 
 Each Party may perform its obligations hereunder personally or through one or more Affiliates or subcontractors, although each Party shall nonetheless be
solely responsible for the performance of its Affiliates and subcontractors. Neither Party shall permit any of its Affiliates or subcontractors to commit any act (including any act of omission) that such Party is prohibited hereunder from committing
directly. The use of subcontractors by either Party shall not increase the financial obligations of the other Party hereunder in any respect. 
 10.11. Counterparts. 
 This Agreement may be executed in counterparts, each of which shall be deemed to be original and both
of which shall constitute one and the same Agreement. 
 10.12. No Agency. 
 Nothing herein contained shall be deemed to create an agency, joint venture, amalgamation, partnership or similar relationship between Novartis and
Infinity and their respective Affiliates. Notwithstanding any of the provisions of this Agreement, neither Party shall at any time enter into, incur, or hold itself out to Third Parties as having authority to enter into or incur, on behalf of the
other Party, any commitment, expense, or liability whatsoever, and all contracts, expenses and liabilities in connection with or relating to the obligations of each Party under this Agreement shall be made, paid, and undertaken exclusively by such
Party on its own behalf and not as an agent or representative of the other. 
 10.13. Notice. 
 All communications between the Parties with respect to any of the provisions of this Agreement will be sent to the addresses set out below, or to such
other addresses as may be designated by one Party to the other by notice pursuant hereto, by prepaid, certified mail (which shall be deemed received by the other Party on the seventh business day following deposit in the mails), or by facsimile
transmission (which shall be deemed received when transmitted), with confirmation by first class mail letter, postage pre-paid, given by the close of business on or before the next following business day: 
  

 Collaboration Agreement — Confidential – Page 42 

 if to Novartis, at: 
 Novartis International Pharmaceutical Ltd. 
 Hurst Holme 
 12 Trott Road 
 P.O. Box 2899 
 Hamilton, HM LX 
 Bermuda 
 Attention: Emil Bock 
 Fax:
(441) 296-5083 
 with a copy to: 
 Novartis Institutes for BioMedical Research, Inc. 
 400 Technology Square 
 Cambridge, Massachusetts 02139 
 Attention:
Robert L. Thompson, Vice President and General Counsel 
 Fax: (617) 871-3354 
 if to Infinity, at: 
 Infinity
Pharmaceuticals, Inc. 
 780 Memorial Drive 
 Cambridge, Massachusetts 02139 
 Attention: Adelene Perkins 
 Fax: (617) 453-1001 
 with a copy to:

 Wilmer Cutler Pickering Hale and Dorr LLP 
 60 State Street 
 Boston, MA 02109 
 Attention: Steven D. Singer, Esq. 
 Fax:
(617) 526-5000 
 10.14. Headings. 
 The paragraph headings are for convenience only and will not be deemed to affect in any way the language of the provisions to which they refer. 
  

 Collaboration Agreement — Confidential – Page 43 

 10.15. Authority. 
 The undersigned represent that they are authorized to sign this Agreement on behalf of the Parties. The Parties each represent that no provision of this Agreement will violate any other agreement that such Party may
have with any other Person. Each Party has relied on that representation in entering into this Agreement. 
 10.16. Entire Agreement.

 This Agreement, together with the License Agreement (if and when executed) and the Stock Purchase Agreement, and their respective
schedules and exhibits, if any, contain the entire understanding of the Parties relating to the matters referred to herein, and may only be amended by a written document, duly executed on behalf of the respective Parties. 
 10.17. No Consequential Damages. 
 NEITHER PARTY HERETO WILL BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR MULTIPLE DAMAGES ARISING OUT OF THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING, WITHOUT LIMITATION, LOST PROFITS ARISING
FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH DAMAGES. 
 [Signature page follows] 
  

 Collaboration Agreement — Confidential – Page 44 

			
	INFINITY PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Adelene Q. Perkins

	Title:	 	Chief Business Officer
	
	NOVARTIS INTERNATIONAL PHARMACEUTICAL LTD.
		
	By:	 	 /s/ Emil Boch

	Title:	 	Member of Board of Directors
		
	By:	 	 /s/ Wendy Wiseman

	Title:	 	Account Manager

  

 Collaboration Agreement — Confidential – Page 45 

 Schedule 7.2(a) 
 List of Countries Regarding Infinity Patent Protection 
  

					
	[**]	 	[**]	 	[**]

  

 Collaboration Agreement — Confidential 

 Schedule 7.2(b) 
 List of Countries Regarding Novartis Patent Protection 
  

					
	[**]	 	[**]	 	[**]

  

 Collaboration Agreement — Confidential 

 EXHIBIT A 
 LICENSE AGREEMENT 
 EXHIBIT A 
 LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT 
 This License, Development and Commercialization Agreement (this “License Agreement”) is made this      day of
                    , 200   by and between Infinity Pharmaceuticals, Inc. (“Infinity”), a Delaware
corporation with principal offices at 780 Memorial Drive, Cambridge, Massachusetts 02139, and Novartis International Pharmaceutical Ltd. (“Novartis”), a Bermuda corporation with principal offices at Hurst Holme, 12 Trott Road,
Hamilton, HM LX, Bermuda. Infinity and Novartis are sometimes referred to herein individually as a “Party” and together as the “Parties.” 
 Capitalized terms used but not defined in this License Agreement have the meanings provided in the Collaboration and Option Agreement by and between
Infinity and Novartis, dated as of November     , 2004 (the “Collaboration Agreement”). 
 Introduction 
 WHEREAS, pursuant to the Collaboration Agreement, Infinity and Novartis are, or have been, engaged in
designing Synthetic Pathways, synthesizing certain Library Compounds using Synthetic Pathways, and Infinity is, or has been, generating Lead Programs using Library Compounds; and 
 WHEREAS, Novartis has exercised its option under the Collaboration Agreement to license exclusively one or more Optioned Lead Programs for worldwide
development and commercialization in the Field; 
 NOW THEREFORE, in consideration of the foregoing premises, the Parties agree as follows:

  

 Collaboration Agreement — Confidential 

 ARTICLE I 
 Definitions 
 1.1. “Affiliate” shall mean, with respect to any Person, any
other Person which directly or indirectly, by itself or through one or more intermediaries, controls, or is controlled by, or is under common control with, such Person. The term “control” (as applied to a Person) means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. Control will be presumed if one Person owns, either of record
or beneficially, at least fifty percent (50%) of the voting stock of any other Person. Such other relationship as in fact results in actual control over the management, business, and affairs of a Person shall also be deemed to constitute
control; provided, however, that no Person shall be deemed to exercise control over another Person solely because the latter relies on the former for a majority of its business. A Person will be deemed an Affiliate only so long as such
ownership or control relationship continues. In the case of Novartis, “Affiliates” shall also expressly be deemed to include the Novartis Institute for Functional Genomics, Inc. and the Friedrich Miescher Institute for BioMedical Research
and their respective Affiliates. 
 1.2. “Active Moiety” shall mean the smallest chemical pharmacophoric element or
three dimensional structure responsible for the physiological or pharmacological action of the drug substance. 
 1.3.
“Collaboration Agreement” shall have the meaning set forth in the preamble. 
 1.4. “Collaboration
Intellectual Property” shall have the meaning set forth in Section 1.7 of the Collaboration Agreement. 
 1.5.
“Compound Patent” shall mean any Patent filed by Novartis and covering molecules of an Optioned Lead Program Compound or a Derivative Compound. For the avoidance of doubt, any subsequent Patent Controlled by Novartis covering,
without limitation, the manufacture, use or formulation of such molecules shall not be within the definition of Compound Patent. 
  

 License, Development and Commercialization Agreement – Confidential – Page 2 

 1.6. “Controlled” shall mean, with respect to an Intellectual Property right, the legal
authority or right of a Party (other than by license pursuant to this License Agreement) to grant a license or sublicense of such intellectual property rights to the other Party, or to otherwise disclose such proprietary or trade secret information
to such other Party, as applicable, without breaching the terms of any agreement with a Third Party. 
 1.7. “Licensed Derivative
Compounds” shall mean all compounds that share substantially the same Active Moiety as the Optioned Lead Program Compounds. 
 1.8. “Derivative Compounds” shall mean any and all compounds that are modified by chemical and/or molecular-genetic means from a Optioned Lead Program Compounds. Analogues of such compounds and their derivatives shall be
included within the scope of Derivative Compounds. 
 1.9. “Drug Product” shall mean a product prepared from bulk Optioned
Lead Program Compounds or Licensed Derivative Compounds (but not other Derivative Compounds) (a “Licensed Drug Product”) or from bulk Derivative Compounds (but not Licensed Derivative Compounds or Optioned Lead Program Compounds)
(an “Other Drug Product”), in finished dosage form ready for administration, as the case may be, either to the ultimate consumer as a human or as a veterinary pharmaceutical, or for agricultural purposes. 
 1.10. “FDA” shall mean the United States Food and Drug Administration, and any successor agency serving the same function. 

1.11. “Field” shall mean all human and veterinary health-care applications including, but not limited to, research, diagnosis,
therapeutics, and prophylaxis with respect to any indication, together with all agricultural purposes. 
 1.12. “First Commercial
Sale” shall mean the first shipment of a Drug Product to a Third Party by Novartis or its Affiliate or sublicensee in a country following applicable Regulatory Approval of the Drug Product in such country. 
  

 License, Development and Commercialization Agreement – Confidential – Page 3 

 1.13. “IND” shall mean an application to the FDA, the filing of which is necessary to
commence clinical testing of pharmaceutical compounds in humans, or the equivalent application to the equivalent agency in any other country or group of countries. 
 1.14. “IND Acceptance” shall mean non-refusal of an IND by the FDA, or the equivalent notice from a governmental authority other than the FDA. 
 1.15. “Infinity Background Intellectual Property” shall mean the Background Intellectual Property Controlled by Infinity, as defined in
Section 7.1 of the Collaboration Agreement. 
 1.16. “Intellectual Property” shall have the meaning set forth in
Section 1.19 of the Collaboration Agreement. 
 1.17. “Lead Program” shall have the meaning set forth in
Section 1.23 of the Collaboration Agreement. 
 1.18. “Library Compound” shall have the meaning set forth in
Section 1.25 of the Collaboration Agreement. 
 1.19. “Licensed Intellectual Property” shall mean the Licensed Patents,
Licensed Technology and Infinity Background Intellectual Property. 
 1.20. “Licensed Patents” shall mean any Patents
Controlled by Infinity (including without limitation any Patent within Collaboration Intellectual Property) which, in the absence of a license hereunder, would be infringed by using, making, offering to sell, importing, or commercializing the
Optioned Lead Program, Optioned Lead Program Compounds or Licensed Drug Products, a list of which Patents is appended hereto as Schedule A and will be updated periodically to reflect additions thereto during the course of this License
Agreement. 
 1.21. “Licensed Technology” shall mean all data, technical information, know-how, experience, inventions
(whether or not patented), trade secrets, processes and methods discovered, developed or applied (with the consent of its owner) (including without limitation any Patent within Collaboration Intellectual Property), other than Infinity Background

  

 License, Development and Commercialization Agreement – Confidential – Page 4 

 
Intellectual Property, which are Controlled by Infinity or its Affiliates and which are necessary to Novartis’ exercise of its licensed rights to the
Optioned Lead Program, Optioned Lead Program Compound or Licensed Drug Product. 
 1.22. “Live Claim” shall mean a claim of
any issued, unexpired Licensed Patent or Compound Patent that shall not have been withdrawn, canceled or disclaimed, nor held invalid or unenforceable by a court of competent jurisdiction in an unappealed or unappealable decision. 
 1.23. “Major Market Country” shall mean the United States, United Kingdom, France, Germany, Italy, Spain, or Japan. 
 1.24. “NDA” means a New Drug Application submitted to the FDA seeking approval to market and sell a Drug Product in the Field in the
United States of America, or a corresponding application filed with any other regulatory agency seeking approval to market and sell a Drug Product in the Field in another Major Market Country. 
 1.25. “Net Sales” shall mean, with respect to any Optioned Lead Program Compound, Derivative Compound or Drug Product, the gross amount
invoiced by or on behalf of Novartis and any Novartis Affiliate or sublicensee for that Optioned Lead Program Compound, Derivative Compound or Drug Product sold to Third Parties (other than sales to sublicensees for resale) in bona fide,
arm’s-length transactions, less the following deductions, determined in accordance with Novartis’ standard accounting methods as generally and consistently applied by Novartis, to the extent included in the gross invoiced sales price of
any Optioned Lead Program Compound, Derivative Compound or Drug Product or otherwise directly paid or incurred by Novartis, its Affiliates or sublicensees with respect to the sale of such Optioned Lead Program Compound, Derivative Compound or Drug
Product: 
 (a) Normal and customary trade and quantity discounts actually allowed and properly taken directly with respect to
sales of the Optioned Lead Program Compound, Derivative Compound or Drug Product; 
 (b) Amounts repaid or credited by reason
of defects, rejection, recalls, returns, rebates and allowances of goods, or because of retroactive price reductions specifically identifiable to such Optioned Lead Program Compound, Derivative Compound or Drug Product; 
  

 License, Development and Commercialization Agreement – Confidential – Page 5 

 (c) Chargebacks and other amounts paid on the sale or dispensing of such Optioned Lead
Program Compound, Derivative Compound or Drug Product; 
 (d) Amounts payable resulting from governmental (or agency thereof)
mandated rebate programs; 
 (e) Third Party cash rebates and chargebacks related to sales of the Optioned Lead Program
Compound, Derivative Compound or finished Drug Product, to the extent actually allowed; 
 (f) Tariffs, duties, excise, sales,
value-added, and other taxes (other than taxes based on income); 
 (g) Retroactive price reductions that are actually allowed
or granted; 
 (h) Cash discounts for timely payment; 
 (i) Delayed ship order credits; 
 (j) Discounts pursuant to indigent patient programs and patient discount programs, including, without limitation, “Together Rx” and coupon discounts; 
 (k) All freight, postage and insurance included in the invoice price; and 
 (l) Amounts repaid or credited for uncollectible amounts on previously sold Optioned Lead Program Compounds, Derivative Compounds or Drug
Products; 
 (m) Deduction of [**] percent ([**]%) for distribution and warehousing expenses; and 
  

 License, Development and Commercialization Agreement – Confidential – Page 6 

 (n) Any other specifically identifiable amounts included in the gross invoice of the
Optioned Lead Program Compound, Derivative Compound or Drug Product that should be credited for reasons substantially equivalent to those listed above 
 all as determined in accordance with Novartis’ usual and customary accounting methods, as consistently applied at Novartis. Sales from Novartis to its Affiliates and sublicensees for resale shall be disregarded
for the purpose of calculating Net Sales. Any of the items set forth above that would otherwise be deducted from the invoice price in the calculation of Net Sales but which are separately charged to Third Parties shall not be deducted from the
invoice price in the calculation of Net Sales. In the case of any sale for consideration other than cash, such as barter or countertrade, Net Sales shall be calculated on the fair market value of the consideration received as agreed by the Parties.

 Furthermore: 
 (i) In the case of any sale or other disposal of an Optioned Lead Program Compound, Derivative Compound or Drug Product between or among Novartis and its Affiliates, and sublicensees for resale, Net Sales shall be calculated as above only
on the value charged or invoiced on the first arm’s-length sale thereafter to a Third Party; 
 (ii) In the case of any
sale which is not invoiced or is delivered before invoice, Net Sales shall be calculated at the time of shipment or when the Optioned Lead Program Compound, Derivative Compound or Drug Product is paid for, if paid for before shipment or invoice;

 (iii) In the case of any sale or other disposal for value, such as barter or countertrade, of any Optioned Lead Program
Compound, Derivative Compound or Drug Product, or part thereof, otherwise than in an arm’s-length transaction exclusively for money, Net Sales shall be calculated as above on the value of the non-cash consideration received or the fair market
price (if higher) of the Optioned Lead Program Compound, Derivative Compound or Drug Product in the country of sale or disposal; and 
  

 License, Development and Commercialization Agreement – Confidential – Page 7 

 (iv) In the event that the Drug Product is sold in a finished dosage form containing the
Optioned Lead Program Compound or Derivative Compound in combination with one or more other active ingredients (a “Combination Product”), the Net Sales of the Drug Product, for the purpose of determining royalty payments, shall be
determined by multiplying the Net Sales (as defined above in this Section) of the Combination Product by the fraction A/(A+B), where A is the weighted (by sales volume) average sales price in a particular country of the Drug Product when sold
separately in finished form and B is the weighted average sales price in that country of the other product(s) sold separately in finished form. In the event that such average sales price cannot be determined for both the Drug Product and the other
product(s) in combination, Net Sales for purposes of determining royalty payments shall be agreed by the Parties based on the relative value contributed by each component, and such agreement shall not be unreasonably withheld. 
 1.26. “Option” shall have the meaning set forth in Section 3.3.1 of the Collaboration Agreement. 
 1.27. “Optioned Lead Program” shall mean a Lead Program as to which Novartis has exercised its Option. 
 1.28. “Optioned Lead Program Compound” shall mean any Library Compounds, together with all Derivative Compounds (and together with any
and all compounds having the same Active Moiety as such Library Compounds or Derivative Compounds) identified at the time the Option is exercised as being within a particular Optioned Lead Program. 
 1.29. “Patents” shall mean all existing patents and patent applications and all patent applications hereafter filed, including any
continuation, continuation-in-part, division, provisional or any substitute applications, any patent issued with respect to any such patent applications, any reissue, reexamination, renewal or extension (including any supplementary protection
certificate) of any such patent, and any confirmation patent or registration patent or patent of addition based on any such patent, and all foreign counterparts of any of the foregoing. 
  

 License, Development and Commercialization Agreement – Confidential – Page 8 

 1.30. “Person” shall mean, any individual, corporation, partnership, association,
joint-stock company, trust, unincorporated organization or government or political subdivision thereof. 
 1.31. “Phase III
Clinical Trial” shall mean human clinical trials, the principal purpose of which is to establish safety and efficacy of one or more particular doses in patients being studied, and which will (or are intended to) satisfy the requirements of
a pivotal trial for purposes of preparing and submitting a filing for Regulatory Approval in a particular country. 
 1.32.
“Registration Filing” shall mean, with respect to each Optioned Lead Program Compound, Derivative Compound or related Drug Product, the submission to the relevant governmental regulatory authority of an appropriate application seeking
any Regulatory Approval, and shall include, without limitation, any marketing authorization application, supplementary application or variation thereof, or any equivalent applications.  
 1.33. “Regulatory Approval” shall mean all authorizations by the appropriate governmental entity or entities necessary for
commercial sale of a Drug Product in a particular country including, without limitation and where applicable, approval of labeling, price, reimbursement and manufacturing. 
 1.34. “Third Party” shall mean any Person that is not a Party or an Affiliate of any Party. 
 ARTICLE II 
 Rights and Licenses

 2.1. Novartis Rights. Subject to the other provisions of this License Agreement, Infinity grants to Novartis and its
Affiliates a worldwide, royalty-bearing license, exclusive even as to Infinity (with the right to sublicense) under the Licensed Intellectual Property (including, without limitation, Infinity’s interest in the Collaboration Intellectual 

  

 License, Development and Commercialization Agreement – Confidential – Page 9 

 
Property), to research and have researched, develop and have developed, make and have made, manufacture and have manufactured, use and have used, market and
have marketed, distribute and have distributed, sell and have sold, export and import for sale, and have exported or imported for sale, the Optioned Lead Program, Optioned Lead Program Compounds or Licensed Drug Product in the Field. To the extent
that Novartis or its Affiliates desires to receive a license from Infinity under relevant Intellectual Property in order to research and have researched, develop and have developed, make and have made, manufacture and have manufactured, use and have
used, market and have marketed, distribute and have distributed, sell and have sold, export and import for sale, and have exported or imported for sale any Other Drug Product, then Novartis shall provide Infinity with written notice of the same, and
the Parties shall discuss, in good faith, whether and under what terms such a license would be granted. For the avoidance of doubt, the licenses granted to Novartis in this Section 2.1 shall be effective with respect to any other lead program
that Novartis may pursue using the Optioned Lead Program, Optioned Lead Program Compounds or Licensed Drug Product. Infinity shall not develop, make, have made, use, market and sell, itself or through a Third Party licensee, for use within the
Field, any other Lead Program involving the Optioned Lead Program Compounds and/or Licensed Drug Product. 
 2.2. Immunity from Suit.
In the event that the exercise by Novartis and/or its Affiliates or sublicensees of the licenses and rights granted pursuant to this License Agreement would infringe during the term of this License Agreement a claim of an issued Patent Controlled by
Infinity, and which Patent is not covered by the grant in Section 2.1, Infinity hereby grants to Novartis and its Affiliates or sublicensees a worldwide, non-exclusive, sublicensable, royalty-free license and immunity from suit by Infinity and
its Affiliates under such issued Patent for Novartis, its Affiliates and or sublicensees to discover, research, develop, make, use, import, export, distribute, market, promote, offer for sale, and sell the Optioned Lead Program Compounds and the
Licensed Drug Products in the Field. 
 2.3. Technology Necessary to the License. If Infinity or any of its Affiliates conceives and
reduces to practice during the term of this License Agreement any new Intellectual Property relating to an Optioned Lead Program or Licensed Drug Product and such new Intellectual Property is necessary to Novartis’ exercise of its licensed
rights, then Infinity hereby 

  

 License, Development and Commercialization Agreement – Confidential – Page 10 

 
grants to Novartis and its Affiliates and sublicensees a worldwide, non-exclusive, sublicensable, royalty-free license under such new Intellectual Property
to discover and have discovered, research and have researched, develop and have developed, make and have made, use and have used, import and have imported, export and have exported, distribute and have distributed, market and have marketed, promote
and have promoted, offer for sale and have offered for sale, sell and have sold the Optioned Lead Program Compounds or the Licensed Drug Products in the Field. 
 ARTICLE III 
 Development and Commercialization 
 3.1. Development and Commercialization Rights. Novartis, its Affiliates and sublicensees shall have sole and worldwide rights, even as to
Infinity, to develop, commercialize, manufacture, promote, sell, and distribute each Optioned Lead Program, Optioned Lead Program Compound or Licensed Drug Product in the Field. The foregoing right to manufacture is subject to any applicable United
States statutory requirement that technology, the development of which was funded in part by the United States government, must be manufactured domestically, unless the United States government shall waive such requirement. As between Novartis and
Infinity, Novartis, its Affiliates and sublicensees, in their sole discretion, shall select, file, and own all rights to any and all trademarks and trade dress relating to the Drug Product which trademarks are not then trademarks of Infinity.

 3.2. Information Transfer. The Parties agree and acknowledge that Infinity has delivered to Novartis the information pursuant
to Sections 2.2.4 and 3.3.3 of the Collaboration Agreement. From time to time during the term of this License Agreement, the Parties shall discuss any other information Controlled by Infinity that is necessary or useful for further development,
manufacture and commercial exploitation and distribution of an Optioned Lead Program, Optioned Lead Program Compounds or Licensed Drug Product and Infinity shall promptly thereafter deliver such information to Novartis. This information shall also
include copies of all Patents filed by Infinity pursuant to Section 2.3.2(h) of the Collaboration Agreement. 
  

 License, Development and Commercialization Agreement – Confidential – Page 11 

 3.3. Regulatory Approvals. Novartis, its Affiliates and sublicensees will be responsible for all
required Regulatory Approvals. All filings will be made by Novartis, its Affiliates or sublicensees. All Regulatory Approvals will be held in the name of Novartis, its Affiliates or sublicensees. Novartis, its Affiliates or sublicensees shall have
the right to cross-reference information and regulatory filings arising out of development work which previously has been conducted by Infinity and its Affiliates with respect to the Optioned Lead Program and Optioned Lead Program Compounds, for the
purpose of regulatory filings hereunder. 
 ARTICLE IV 
 Milestone and Royalty Payments 
 4.1. Milestone Payments. 
 (a) Novartis shall make milestone payments in accordance with this Section 4.1 with respect to each Optioned Lead Program. Milestone
payments shall be payable only once with respect to a particular Optioned Lead Program, even though the Optioned Lead Program, Optioned Lead Program Compound, Derivative Compound or Drug Product may be subsequently developed for indications other
than those for which Regulatory Approval was initially sought. In the event that an Optioned Lead Program Compound, Derivative Compound or Drug Product fails in development, any milestone payments previously paid with respect to such Optioned Lead
Program Compound, Derivative Compound or Drug Product shall be fully creditable toward the same milestone due with respect to another Optioned Lead Program Compound, Derivative Compound or Drug Product included within the same Optioned Lead Program.
Novartis may deduct from any milestone payments otherwise due to Infinity under this Article IV the amount of any withholding and similar taxes required under applicable law to be withheld from such payments and paid to applicable tax authorities
and shall furnish Infinity with proof of payment of such taxes as soon as practicable after such payment is made. 
  

 License, Development and Commercialization Agreement – Confidential – Page 12 

 (b) The following milestone payments shall be payable within [**] days following delivery
of an invoice by Infinity to Novartis with respect to the relevant event. 
  

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

 4.2. Royalty Payments. Novartis shall make the following royalty payments to Infinity on
total annual Net Sales of each Drug Product incorporating an Optioned Lead Program Compound or Derivative Compound, for which there is a Live Claim covering such Optioned Lead Program, or the related Optioned Lead Program Compounds, Derivative
Compounds or Drug Products, or their uses or manufacture thereof on a country-by-country and Drug Product-by-Drug Product basis. The royalties shall be paid in full by Novartis within [**] days following delivery of an invoice by Infinity with
respect to such royalties. 
  

			
	 TOTAL WORLDWIDE ANNUAL NET
SALES
	  	ROYALTY
AMOUNT
	 On Net Sales less than or equal to $[**]
	  	[**]%
	 On the increment of Net Sales greater than $[**]
	  	[**]%

 4.3. Reduced Milestone and Royalty Obligations. The obligation of Novartis, its Affiliates
and sublicensees to pay milestones and royalties to Infinity under this License Agreement shall be reduced upon the occurrence of the following events: 
  

 License, Development and Commercialization Agreement – Confidential – Page 13 

 (a) In the event of Infinity’s material breach of this License Agreement, which
shall remain uncured [**] days after written notice by Novartis to Infinity of the same, the rights of Novartis, its Affiliates and sublicensees under this License Agreement shall remain unaffected but its milestone and royalty payment obligations
shall be reduced by [**] percent ([**]%). 
 (b) In the event of Infinity’s material breach of the Collaboration
Agreement which shall remain uncured [**] days after written notice by Novartis to Infinity of the same, or if Infinity does not deliver [**] Actual Compounds to Novartis prior to the [**] anniversary of the Effective Date (as defined in the
Collaboration Agreement), then the rights of Novartis, its Affiliates and sublicensees under this License Agreement shall remain unaffected but its milestone and royalty payment obligations shall be reduced by [**] percent ([**]%). 
 (c) In the event that Novartis, its Affiliates or sublicensees is required to pay Third Party royalties, milestones or license fees in
order to avoid infringement of Third Parties’ intellectual property rights covering the composition of matter of the Optioned Lead Program, Optioned Lead Program Compound or Licensed Drug Product, Novartis’ obligation to pay royalties to
Infinity shall be reduced dollar for dollar on par with the amounts actually paid by Novartis or its Affiliate to such Third Party; provided, however, that in no event shall the amount paid to Infinity be less than [**] percent ([**]%)
of the amount otherwise payable to Infinity pursuant to Section 4.2. 
 ARTICLE V 
 Reporting Obligations 
 During the term
of this License Agreement, Novartis shall deliver to Infinity a written notice of the occurrence of each of the events described in Section 4.1(b) with respect to each Optioned Lead Program within [**] days after such occurrence. During
the term of this License Agreement, but only after the First Commercial Sale of a Drug Product, Novartis shall deliver to 

  

 License, Development and Commercialization Agreement – Confidential – Page 14 

 
Infinity within [**] days after the end of each calendar quarter a written report showing actual Net Sales of such Drug Product by Novartis, its Affiliates
and sublicensees in each country during such calendar quarter. All Net Sales shall be stated in United States dollars, and Novartis shall convert the amounts into United States dollars from the currency in which such amounts are received by
Novartis, its Affiliates and sublicensees using Novartis’ then-current standard exchange rate methodology applied in its external reporting for the translation of foreign currency sales into United States dollars. Novartis will keep complete,
true and accurate books of account and records for the purpose of showing the derivation of Net Sales and all amounts payable to Infinity under this License Agreement. Novartis, its Affiliates or sublicensees will keep such books and records for at
least three (3) years following the end of the calendar quarter to which they pertain. Infinity shall have the right for a period of three (3) years after receiving any report or statement with respect to royalties due and payable to
appoint an internationally-recognized independent accounting firm reasonably acceptable to Novartis (the “Auditor”) to inspect the relevant records of Novartis, its Affiliates or sublicensees to verify such reports, statements,
records or books of accounts, as applicable. Before beginning its audit, the Auditor shall execute an undertaking reasonably acceptable to Novartis by which the Auditor shall keep confidential all information reviewed during such audit; although the
Auditor shall have the right to disclose to Infinity its conclusions regarding any payments owed to Infinity. Novartis, its Affiliates and/or sublicensees shall make its records available for inspection by the Auditor during regular business hours
at such place or places where such records are customarily kept, upon reasonable notice from Infinity, solely to verify the accuracy of the sales reports, payments records or books of accounts and the compliance by Novartis, its Affiliates and/or
sublicensees in other respects with this License Agreement. Such inspection right shall not be exercised more than once in any calendar year not nor more frequently than once with respect to records covering any specific period of time. Infinity
agrees to hold in strict confidence all information received and all information learned in the course of any audit or inspection, except to the extent necessary in order to enforce its rights under this License Agreement or if disclosure is
required by law, regulation or judicial order. Infinity shall pay for such inspections, as well as its own attorneys’ fees associated with enforcing its rights with respect to any payments hereunder, except that in the event there is any upward
adjustment in aggregate amounts payable for any 

  

 License, Development and Commercialization Agreement – Confidential – Page 15 

 
year shown by such inspection of more than five percent (5%) of the amount paid, Novartis shall pay for such inspection and shall pay to Infinity the
amount of any underpayment, along with interest thereon at a rate per annum equal to the lesser of [**], as reported by The Wall Street Journal, [**], or the highest rate permitted by applicable law, calculated on the number of days such
payments are paid after the date such payments were originally due. 
 ARTICLE VI 
 Confidentiality 
 6.1.
Undertaking. During the term of this License Agreement, each Party (the “Receiving Party”) shall keep confidential, and other than as provided herein shall not use or disclose, directly or indirectly, any trade secrets,
confidential or proprietary information, or any other knowledge, information, documents or materials, disclosed to the Receiving Party by the other Party (the “Proprietary Party”), whether in tangible or intangible form, the
confidentiality of which such Proprietary Party takes reasonable measures to protect, including but not limited to Collaboration Intellectual Property. 
 (a) The Receiving Party shall take any and all lawful, reasonable measures to prevent the unauthorized use and disclosure of such information, and to prevent unauthorized Persons from obtaining or using such
information. With the prior written consent of the Proprietary Party, the Receiving Party may, however, use and disclose such information to exercise its rights to file, prosecute and maintain Patents within the Collaboration Intellectual Property
as permitted by the Collaboration Agreement. 
 (b) The Receiving Party further agrees to refrain from directly or indirectly
taking any action that would constitute or facilitate the unauthorized use or disclosure of such information. The Receiving Party may disclose such information to its Affiliates, officers, employees and agents, to authorized licensees and
sublicensees, and to subcontractors in connection with the Receiving Party’s obligations hereunder, to the extent necessary to enable such Persons to perform their 

  

 License, Development and Commercialization Agreement – Confidential – Page 16 

 
obligations hereunder or under the Collaboration Agreement or under the applicable license, sublicense or subcontract, as the case may be; provided,
that such Affiliates, officers, employees, agents, licensees, sublicensees and subcontractors have entered into appropriate confidentiality agreements for secrecy and non-use of such information which by their terms shall be enforceable by
injunctive relief. In the event any such Persons violate such agreements with respect to such information, the Receiving Party shall enforce such agreements. 
 (c) The Receiving Party shall be liable for any unauthorized use and disclosure of such information by its Affiliates, officers, employees
and agents and any such sublicensees and subcontractors. 
 6.2. Exceptions. Notwithstanding the foregoing, the provisions of
Section 6.1 shall not apply to knowledge, information, documents or materials that the Receiving Party can conclusively establish: 
 (a) were generally available to the public at the time of disclosure or become generally available to the public without the Receiving Party’s breach of any obligation owed to the Proprietary Party; 

(b) are permitted to be disclosed under the prior written consent of the Proprietary Party; 
 (c) were known by the Receiving Party at the time of disclosure, or have become known to the Receiving Party from a source other than the
Proprietary Party, other than by breach of an obligation of confidentiality owed to the Proprietary Party; 
 (d) are
disclosed by the Proprietary Party to a Third Party without restrictions on its disclosure; 
 (e) are independently developed
by the Receiving Party without breach of this License Agreement or any other confidentiality agreement between the Parties or between a Party and an Affiliate of the other Party, without reference to or reliance upon knowledge, information, or
materials of the Proprietary Party; or 
  

 License, Development and Commercialization Agreement – Confidential – Page 17 

 (f) are required to be disclosed by the Receiving Party to comply with applicable laws or
regulations, to submit Registration Filings, to defend or prosecute litigation or Patents, or to comply with governmental regulations, provided that the Receiving Party provides prior written notice of such disclosure to the Proprietary Party
and takes reasonable and lawful actions to avoid or minimize the degree of such disclosure. 
 6.3. Publicity. Except with respect to
the initial press release described in Section 4.3 of the Collaboration Agreement, the Parties will agree upon the timing and content of any other press releases or other public communications relating to the License Agreement and the
transactions contemplated herein will be determined jointly by Infinity and Novartis. 
 Except to the extent already disclosed in that
initial press release or other public communication, no public announcement concerning the existence or the terms of this License Agreement or concerning the transactions described herein shall be made, either directly or indirectly, by Infinity or
Novartis, except as may be legally required by applicable laws, regulations, or judicial order, without first obtaining the approval of the other Party and agreement upon the nature, text, and timing of such announcement. 
 The Party desiring to make any such public announcement shall provide the other Party with a written copy of the proposed announcement in sufficient time
prior to public release to allow such other Party to comment upon such announcement, prior to public release. 
 Notwithstanding the
foregoing, either Party may disclose: (a) to bona fide potential or actual licensees or sublicensees only those terms of this License Agreement that are reasonably necessary to disclose in connection with a license or sublicense as permitted
this License Agreement; and (b) to bona fide potential or actual investors, lenders, investment bankers, acquirors, acquirees or merger partners, and to such Party’s consultants and advisors, only those terms of this License Agreement that
are reasonably necessary in connection with a proposed equity or debt financing, proposed acquisition or business combination of such Party. 
  

 License, Development and Commercialization Agreement – Confidential – Page 18 

 6.4. Survival. The provisions of this Article VI shall survive for five (5) years after the
termination or expiration of this License Agreement. 
 6.5. Equitable Relief. The Receiving Party agrees that any breach of this
Article VI may cause the Proprietary Party substantial and irreparable injury and, therefore, in the event of any such breach, in addition to other remedies that may be available, the Proprietary Party shall have the right to specific performance
and other injunctive and equitable relief. 
 ARTICLE VII 
 Patents 
 7.1. Inventions. All inventions conceived of and reduced to practice during the term
of and as a result of, this License Agreement, jointly by employees or agents of Infinity or its Affiliates, on one hand, and employees or agents of Novartis or its Affiliates, on the other hand and all Patents claiming the same, shall be owned by
Novartis. 
 7.2. Preparation. Subsequent to the date on which Novartis exercises its Option with respect to a particular
Optioned Lead Program, Novartis or its Affiliates shall take responsibility and pay for the preparation, filing, prosecution and maintenance of any and all Patents covering such Optioned Lead Program, Optioned Lead Program Compound or Licensed Drug
Product, and for any uses, formulations, manufacture and other process inventions with respect thereto made by or on behalf of Novartis or its Affiliates. If Infinity was authorized to file a Patent pursuant to Section 2.3.2(h) of the
Collaboration Agreement with respect to an Optioned Lead Program, Infinity shall assign, and shall cause its Affiliates, employees and/or consultants to assign, such Patent to Novartis. Upon reasonable request, Infinity shall furnish to Novartis
copies of significant documents relevant to any such preparation, filing, prosecution or maintenance of Patents covered by this Section 7.2, and shall cooperate fully in the preparation, filing, prosecution and maintenance of the same,
executing all papers and instruments so as to enable Novartis to apply for, file, prosecute and maintain such Patents in its name in any country. The Parties acknowledge the importance of maintaining the confidentiality of any inventions or other
information relating to potential Patent claims prior to the filing of applications with respect thereto. 
  

 License, Development and Commercialization Agreement – Confidential – Page 19 

 7.3. Infringement. Each Party shall notify the other promptly of any possible infringements,
imitations or unauthorized possession, knowledge or use of the Intellectual Property embodied in any of the Optioned Lead Programs, Collaboration Intellectual Property, or Licensed Intellectual Property related to the manufacture or use of the
Optioned Lead Program, Optioned Lead Program Compounds or Licensed Drug Product by Third Parties in any country, of which such Party becomes aware. Each Party shall promptly furnish the other Party with full details of such infringements, imitations
or unauthorized possession, knowledge or use, and shall assist the Controlling Party in preventing any recurrence thereof; provided, that Novartis or its Affiliates shall be initially responsible, at its expense, for bringing any action on account
of any such infringements with respect to the Patents described in Section 7.2 exclusively licensed to Novartis hereunder, and Infinity shall cooperate with Novartis, its Affiliates and sublicensees, as Novartis may reasonably request, in
connection with any such action. Damages recovered in any such actions shall be apportioned in accordance with the royalty schedules contained in this License Agreement, after reimbursement to each Party of their respective expenses in prosecuting
such actions as provided hereunder. 
 ARTICLE VIII 
 Term and Termination 
 8.1. Term. The term of this License Agreement with respect to any
Optioned Lead Program, and the related Optioned Lead Program Compounds, Derivative Compounds and Drug Products, shall extend in each country for the longer of (a) ten (10) years after Novartis has exercised the Option with respect to the
relevant Optioned Lead Program, or (b) the expiration of the last to expire of the Licensed Patents or Compound Patents in that country having a Live Claim covering such Optioned Lead Program, or the related Optioned Lead Program Compounds,
Derivative Compounds or Drug Products, or their uses or manufacture thereof. In the case of member countries of the European Union, the term of the License Agreement shall extend in each country for the longer of (a) ten (10) years after
Novartis has exercised the Option 

  

 License, Development and Commercialization Agreement – Confidential – Page 20 

 
with respect to the relevant Optioned Lead Program, or (b) the later of: (i) the expiration the last to expire of the Licensed Patents or Compound
Patents in that country having a Live Claim covering such Optioned Lead Program, or the related Optioned Lead Program Compounds, Derivative Compounds or Drug Products, or the uses or manufacture thereof; or (ii) ten (10) years from the date of
First Commercial Sale of the Optioned Lead Program Compounds, Derivative Compounds or Drug Products with respect to such Optioned Lead Program in that country. With respect to licenses of non-Patented Intellectual Property included in Infinity
Background Intellectual Property, Licensed Technology or in Collaboration Intellectual Property, such licenses shall be perpetual and fully-paid with respect to such Optioned Lead Program, and the related Optioned Lead Program Compounds and Licensed
Drug Products. 
 8.2. Material Breach by Novartis. Upon any material breach of the provisions of this License Agreement or of the
Collaboration Agreement by Novartis, which material breach remains uncured by Novartis, its Affiliates or sublicensees one hundred eighty (180) days after receipt of written notice of the same from Infinity: (a) the licenses and rights
granted to Novartis and/or its Affiliates or sublicensees hereunder shall terminate; and (b) Novartis shall exclusively license, and shall cause its Affiliates and sublicensees to exclusively license, to Infinity any Patents assigned to
Novartis pursuant to Section 7.2 and any Patents filed by Novartis or its Affiliates covering the Optioned Lead Program Compounds in order to research and have researched, develop and have developed, make and have made, manufacture and have
manufactured, use and have used, market and have marketed, distribute and have distributed, sell and have sold, export and import for sale, and have exported or imported for sale the Optioned Lead Program Compounds and the drug products prepared
from bulk Optioned Lead Program Compounds (but not other Derivative Compounds); and (c) Novartis shall use commercially reasonable efforts to prosecute, maintain and enforce such Patents which specifically cover the Optioned Lead Program
Compounds, such drug products prepared from bulk Optioned Lead Program Compounds (but not other Derivative Compounds), or the uses of foregoing; provided, however, that if Novartis declines to prosecute, maintain or enforce any such
Patent, it shall give Infinity reasonable notice to this effect and thereafter Infinity may, upon written notice to Novartis, prosecute, maintain or enforce, as applicable, such Patents in Novartis’ name and Novartis shall reasonably cooperate
in such prosecution, maintenance or enforcement. 
  

 License, Development and Commercialization Agreement – Confidential – Page 21 

 8.3. Termination. Either Party may terminate this License Agreement immediately upon the
bankruptcy or financial insolvency of the other Party. Novartis may terminate this License Agreement without cause at any time and the provisions of Section 8.2 shall apply. 
 8.4. Effect of Termination. Termination of this License Agreement for any reason, or expiration of this License Agreement, will not affect:
(a) obligations, including the payment of any milestones or royalties, which have accrued as of the date of termination or expiration; and (b) rights and obligations under the following provisions of this License Agreement, which shall
survive termination or expiration of this License Agreement: Articles V, VI and IX, Sections 8.2(a) through (c) (as provided in Sections 8.2 or 8.3), and Section 8.4. Following expiration of this License Agreement under Section 8.1
with respect to a particular country, the licenses granted by Infinity to Novartis hereunder under the Infinity Background Intellectual Property, Licensed Patents and under Infinity’s interest in the Collaboration Intellectual Property shall be
fully-paid in that country. 
 ARTICLE IX 
 Miscellaneous Provisions 
 9.1. Invoice Requirement. Any amounts payable to Infinity hereunder
shall be made within sixty (60) days after receipt by Novartis, or its nominee designated for that purpose in advance by Novartis in writing to Infinity, of an invoice covering such payment. 
 9.2. Governing Law, and Jurisdiction. This License Agreement shall be governed and construed in accordance with the internal laws of the State of
Delaware. Both Parties agree to submit to personal jurisdiction in the State of Delaware and to accept and agree to venue in that State. 
 9.3. Adverse Events. During the term of this License Agreement, the Parties shall keep each other promptly and fully informed and Novartis will promptly notify appropriate 

  

 License, Development and Commercialization Agreement – Confidential – Page 22 

 
authorities in accordance with applicable law, after receipt of information with respect to any serious adverse event (as defined by the ICH Harmonized
Tripartite Guideline on Clinical Safety Data Management), directly or indirectly attributable to the use or application of any Optioned Lead Program, Optioned Lead Program Compound, Derivative Compound or Drug Product. 
 9.4. Third Party Actions; Disclaimer of Warranties. 
 (a) To Infinity’s actual knowledge, as of the date Novartis exercises the Option with respect to any Optioned Lead Program, the exercise of the rights by Novartis hereunder with respect to such Optioned Lead
Program will not result in the infringement of then-valid issued Patents of Third Parties. Nevertheless, each Party will promptly notify the other in the event any relevant Third Party Patents come to its notice. Notwithstanding the foregoing,
neither Party gives a representation or warranty to the other regarding the non-infringement of Third Party rights by the development, manufacture, use or sale of the Optioned Lead Programs, Optioned Lead Program Compounds, Derivative Compounds or
Drug Products, and gives no indemnity against costs, damages, expenses or other losses arising out of proceedings brought against the other Party or any other Person by any Third Party. In the event Novartis, its Affiliates or sublicensees are sued
for infringement of any rights of any Third Party in the course of its development, manufacture, marketing and sale of an Optioned Lead Program Compound, Derivative Compounds or Drug Product or its use of Infinity Background Intellectual Property in
connection therewith, Infinity shall extend to Novartis, its Affiliates and sublicensees, at no charge, good faith assistance and support in defending such action, and may participate in the conduct of the suit at its own expense. Legal expenses and
fees arising from such a legal action shall be paid by Novartis, its Affiliates or sublicensees. 
 (b) EXCEPT AS EXPRESSLY
PROVIDED IN SECTION 9.16, EACH PARTY EXPRESSLY DISCLAIMS ANY OTHER WARRANTY, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. 
  

 License, Development and Commercialization Agreement – Confidential – Page 23 

 9.5. Waiver. No provision of this License Agreement may be waived except in writing by both
Parties. No failure or delay by either Party in exercising any right or remedy hereunder or under applicable law will operate as a waiver thereof, or a waiver of any right or remedy on any subsequent occasion. 
 9.6. Force Majeure. Neither Party will be in breach hereof by reason of its delay in the performance of or failure to perform any of its
obligations hereunder, if that delay or failure is caused by strikes, acts of God or the public enemy, riots, war, terrorism, incendiaries, interference by civil or military authorities, compliance with governmental priorities for materials, or any
fault beyond its control or without its fault or negligence.  
 9.7. Severability. Should one or more provision of this
License Agreement be or become invalid, then the Parties shall attempt in good faith to agree upon valid provisions in substitution for the invalid provisions, which in their economic effect come so close to the invalid provisions that it can be
reasonably assumed that the Parties would have accepted this License Agreement with those new provisions. If the Parties are unable to agree on such valid provisions, the invalidity of such one or more provisions of this License Agreement shall
nevertheless not affect the validity of the License Agreement as a whole, unless the invalid provisions are of such essential importance for this License Agreement that it may be reasonably presumed that the Parties would not have entered into this
License Agreement without the invalid provisions. 
 9.8. Government Acts. In the event that any act, regulation, directive, or
law of a country or its government, including its departments, agencies or courts, should make impossible or prohibit, restrain, modify or limit any material act or obligation of the Parties under this License Agreement, the Party, if any, not so
affected, shall have the right, at its option, to suspend or terminate this License Agreement as to such country, if good faith negotiations between the Parties to make such modifications herein as may be necessary to fairly address the impact
thereof, are not successful after a reasonable period of time in producing mutually acceptable modifications to this License Agreement. 
  

 License, Development and Commercialization Agreement – Confidential – Page 24 

 9.9. Government Approvals. Each Party will obtain any government approval required in its country
of domicile to enable this License Agreement to become effective, or to enable any payment hereunder to be made, or any other obligation hereunder to be observed or performed. Each Party shall keep the other informed of progress in obtaining any
such government approval, and will cooperate with the other Party in any such efforts. 
 9.10. Export Controls. This License
Agreement is made subject to any restrictions concerning the export of Optioned Lead Program Compounds, Derivative Compounds, Drug Products, Infinity Background Intellectual Property, Licensed Intellectual Property or Collaboration Intellectual
Property from the United States that may be imposed upon or related to either Party from time to time by the Government of the United States. Furthermore, each Party agrees that it will not export, directly or indirectly, any Infinity Background
Intellectual Property, Licensed Intellectual Property, Collaboration Intellectual Property acquired from the other Party under this License Agreement or any Optioned Lead Program Compounds, Derivative Compounds or Drug Products utilizing the same to
any countries for which the United States government or any agency thereof at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so (of which Novartis will promptly inform
Infinity) from the Department of Commerce or other agency of the United States government when required by applicable statute or regulation. 
 9.11. Assignment. This License Agreement may not be assigned or otherwise transferred by either Party without the prior written consent of the other Party; provided, however, that either Party may assign this License
Agreement, without consent of the other Party: (a) to any of its Affiliates, if the assigning Party guarantees to full performance of its Affiliates’ obligations hereunder; or (b) in connection with the transfer or sale of all
or substantially all of its assets or business, or a controlling equity interest, or in the event of its merger or consolidation with another company. Any purported assignment in contravention of 

  

 License, Development and Commercialization Agreement – Confidential – Page 25 

 
this Section 9.11 shall, at the option of the nonassigning Party, be null and void and of no effect. No assignment shall release either Party from
responsibility for the performance of any accrued obligation of such Party hereunder. This License Agreement shall be binding upon and enforceable against the successor to or any permitted assignees of either of the Parties. 
 9.12. Counterparts. This License Agreement may be executed in counterparts, each of which shall be deemed to be original and both of which shall
constitute one and the same License Agreement. 
 9.13. No Agency. Nothing in this License Agreement shall be deemed to create an
agency, joint venture, amalgamation, partnership or similar relationship between Infinity and Novartis and their respective Affiliates. Notwithstanding any of the provisions of this License Agreement, neither Party shall at any time enter into,
incur, or hold itself out to Third Parties as having authority to enter into or incur, on behalf of the other Party, any commitment, expense, or liability whatsoever, and all contracts, expenses and liabilities in connection with or relating to the
obligations of each Party under this License Agreement shall be made, paid, and undertaken exclusively by such Party on its own behalf and not as an agent or representative of the other. 
 9.14. Notice. All communications between the Parties with respect to any of the provisions of this License Agreement will be sent to the addresses
set out below or to such other addresses as may be designated by one Party to the other by notice pursuant hereto, by prepaid certified mail (which shall be deemed received by the other Party on the seventh business day following deposit in the
mails), or by facsimile transmission (which shall be deemed received when transmitted), with confirmation by first class letter, postage pre-paid, given by the close of business on or before the next following business day: 
 if to Novartis, at: 
 Novartis International
Pharmaceutical Ltd. 
 Hurst Holme 
 12 Trott Road 
 P.O. Box 2899 
 Hamilton, HM LX 
 Bermuda 
 Attention: Emil Bock 
 Fax: (441) 296-5083 
  

 License, Development and Commercialization Agreement – Confidential – Page 26 

 with a copy to: 
 Novartis Institutes for BioMedical Research, Inc. 
 400 Technology Square 
 Cambridge, Massachusetts 02139 
 Attention:
Robert L. Thompson, Vice President and General Counsel 
 Fax: (617) 871-3354 
 if to Infinity, at: 
 Infinity
Pharmaceuticals, Inc. 
 780 Memorial Drive 
 Cambridge, Massachusetts 02139 
 Attention: Adelene Perkins 
 Fax: (617) 453-1001 
 with a copy to:

 Wilmer Cutler Pickering Hale and Dorr LLP 
 60 State Street 
 Boston, MA 02109 
 Attention: Steven D. Singer, Esq. 
 Fax:
(617) 526-5000 
 9.15. Headings. The paragraph headings are for convenience only and will not be deemed to affect in any way the
language of the provisions to which they refer. 
 9.16. Authority. The undersigned represent that they are authorized to sign this
License Agreement on behalf of the Parties. The Parties each represent that no provision of this License Agreement will violate any other agreement that a Party may have with any other Person. Each Party has relied on that representation in entering
into this License Agreement. 
 9.17. Entire Agreement. This License Agreement and its schedules contain the entire understanding of
the Parties relating to the matters referred to herein, and may only be amended by a written document, duly executed on behalf of the respective Parties. 
  

 License, Development and Commercialization Agreement – Confidential – Page 27 

 9.18. No Consequential Damages. NEITHER PARTY HERETO WILL BE LIABLE FOR SPECIAL, INCIDENTAL,
CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR MULTIPLE DAMAGES ARISING OUT OF THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING, WITHOUT LIMITATION, LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF THIS LICENSE AGREEMENT, REGARDLESS OF
ANY NOTICE OF SUCH DAMAGES. 
 9.19. Affiliates and Subcontractors. Each Party may perform its obligations hereunder personally or
through one or more Affiliates or subcontractors, although each Party shall nonetheless be solely responsible for the performance of its Affiliates and subcontractors. Neither Party shall permit any of its Affiliates or subcontractors to commit any
act (including any act of omission) that such Party is prohibited hereunder from committing directly. The use of subcontractors by either Party shall not increase the financial obligations of the other Party hereunder in any respect. 
 [Signature page follows] 
  

 License, Development and Commercialization Agreement – Confidential – Page 28 

			
	INFINITY PHARMACEUTICALS, INC.
		
	By:	 	  

	Title:	 	  

	Date of Signature:	 	  

	
	NOVARTIS INTERNATIONAL PHARMACEUTICAL LTD.
		
	By:	 	  

	Title:	 	  

	Date of Signature:	 	  

		
	By:	 	  

	Title:	 	  

	Date of Signature:	 	  

  

 License, Development and Commercialization Agreement – Confidential – Page 29 

 Schedule A 
 Licensed Patents 
 [to be provided] 
  

  

 License, Development and Commercialization Agreement – Confidential 

 EXHIBIT B 
 SCAFFOLD EXAMPLES 
 The scheme below serves as an example of what would and would not be included as part a single
Scaffold, as defined in Sections 1.36. The scheme describes the synthesis of a Scaffold which would include the structures 4b-d and 5b-d. 4b-d and 5b-d are rigid, densely functionalized compounds that can undergo further reactions to introduce a
variety of functional groups around the [**] structure. The [**] groups can serve as substrates for [**] cross-coupling reactions. The [**] can react with [**] while simultaneously unmasking [**] for subsequent reactions. All of these modifications
to the Scaffold would be considered as part of the same Scaffold. 
 Additionally, it is conceivable that many other [**] could have been employed to create
the [**] precursor to the [**] embedded in the [**] scaffold and those which are accessible via a reasonable synthetic pathway would also be considered part of the same Scaffold. 
 In this example, replacement of the designated [**] precursor to the [**] with another would create a different Scaffold because it would create different array of chemical functionality for subsequent attachment of a
variety of substituents using synthetic organic transformations and would be considered a different Scaffold. Notwithstanding the foregoing, if the use of various [**] were explored and was found to react similarly (as the [**] were found to in this
example), then the scope of such variability would be considered part of the same Scaffold; provided that the same array of chemical functionality for subsequent attachment of a variety of substitutes is present. For example, it might
be that the [**] was tested and found to react similarly and therefore should be included in the Scaffold. 
 Additionally, breaking the [**] embedded in the
[**] structure would result in a compound with significantly different topology and physicochemical properties which would introduce many unanticipated synthetic organic chemistry challenges at the level of creating the Scaffold as well as
introducing substituents that this would be considered a different Scaffold. 
 [**] 
  

 Collaboration Agreement — Confidential 

 EXHIBIT C 
 SYNTHETIC PATHWAYS AND SCAFFOLDS 
 [to be provided] 
  

 Collaboration Agreement — ConfidentialCollaboration Agreement

			
	 Confidential Materials omitted and filed separately with the
 Securities and Exchange Commission. Asterisks denote omissions.
	  	Exhibit 10.3

  
  
  
 COLLABORATION AND LICENSE AGREEMENT 
 BY AND BETWEEN 
 INFINITY
PHARMACEUTICALS, INC. 
 AND 
 JOHNSON & JOHNSON PHARMACEUTICAL RESEARCH AND DEVELOPMENT 

			
	 ARTICLE 1
	  	
	 DEFINITIONS
	  	1
	 Section 1.1 Affiliate
	  	1
	 Section 1.2 Amgen
	  	2
	 Section 1.3 Amgen Agreement
	  	2
	 Section 1.4 Analog
	  	2
	 Section 1.5 Back-Up Library Compound
	  	2
	 Section 1.6 Business Day
	  	2
	 Section 1.7 Collaboration Term
	  	2
	 Section 1.8 Confidential Information
	  	2
	 Section 1.9 Control or Controlled
	  	2
	 Section 1.10 Development or Develop
	  	3
	 Section 1.11 Drug Discovery Program
	  	3
	 Section 1.12 Equity Agreements
	  	3
	 Section 1.13 Exclusive Library Compound
	  	3
	 Section 1.14 Exclusive Library Compound Information
	  	3
	 Section 1.15 Executive Officers
	  	3
	 Section 1.16 Good Laboratory Practices or GLP
	  	3
	 Section 1.17 Infinity Intellectual Property
	  	3
	 Section 1.18 Infinity Know-How
	  	4
	 Section 1.19 Infinity Patent Rights
	  	4
	 Section 1.20 Investor Rights Agreement
	  	4
	 Section 1.21 JJPRD Analog
	  	4
	 Section 1.22 JJPRD Analog Information
	  	4
	 Section 1.23 Know-How
	  	4
	 Section 1.24 Law or Laws
	  	4
	 Section 1.25 Library Compound
	  	4
	 Section 1.26 Library Compound Pool
	  	4
	 Section 1.27 Library Compound Delivery Requirements
	  	5
	 Section 1.28 Library Compound Exclusivity Option
	  	5
	 Section 1.29 Intentionally Blank
	  	5
	 Section 1.30 Library Compound Structure Information
	  	5
	 Section 1.31 Party or Parties
	  	5
	 Section 1.32 Patent Rights
	  	5
	 Section 1.33 Stock Purchase Agreement
	  	5
	 Section 1.34 Synthetic Methodology and Pathways
	  	5
	 Section 1.35 Third Party
	  	6
	 Section 1.36 Additional Definitions
	  	6
		
	 ARTICLE 2
	  	
	 DELIVERY AND USE OF LIBRARY COMPOUNDS
	  	6
	 Section 2.1 Delivery of Library Compounds
	  	6
	 Section 2.2 Program Coordinators
	  	7
		
	 ARTICLE 3
	  	
	 LICENSES
	  	7

  

 i 

			
	 Section 3.1 Infinity Grants
	  	7
	 Section 3.2 Limited JJPRD Grant
	  	8
	 Section 3.3 Sublicense Rights
	  	9
	 Section 3.4 Section 365(n) Of The Bankruptcy Code
	  	9
	 Section 3.5 No Implied Licenses Or Rights
	  	9
	 Section 3.6 Library Compound Exclusivity Option
	  	9
		
	 ARTICLE 4
	  	
	 FINANCIAL PROVISIONS
	  	11
	 Section 4.1 License Fee
	  	11
		
	 ARTICLE 5
	  	
	 INTELLECTUAL PROPERTY OWNERSHIP, PROTECTION AND RELATED MATTERS
	  	11
	 Section 5.1 Ownership
	  	11
	 Section 5.2 Third Party Infringement
	  	12
		
	 ARTICLE 6
	  	
	 CONFIDENTIALITY
	  	12
	 Section 6.1 Confidential Information
	  	12
	 Section 6.2 Permitted Disclosure
	  	13
	 Section 6.3 Employee And Advisor Obligations
	  	14
	 Section 6.4 Term
	  	14
	 Section 6.5 Publications
	  	14
		
	 ARTICLE 7
	  	
	 TERM AND TERMINATION
	  	14
	 Section 7.1 Agreement Term
	  	14
	 Section 7.2 Termination For Convenience
	  	14
	 Section 7.3 Termination For Material Breach
	  	14
	 Section 7.4 Effect Of Termination; Accrued Rights; Surviving Obligations
	  	15
		
	 ARTICLE 8
	  	
	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	16
	 Section 8.1 Representation Of Authority; Consents
	  	16
	 Section 8.2 No Conflict
	  	16
	 Section 8.3 Knowledge Of Pending Or Threatened Litigation
	  	16
	 Section 8.4 Employee And Consultant Obligations
	  	16
	 Section 8.5 Intellectual Property
	  	17
	 Section 8.6 Disclaimer Of Warranty
	  	17
	 Section 8.7 Additional Covenants Of Infinity
	  	17
	 Section 8.8 Performance Standards
	  	17
		
	 ARTICLE 9
	  	
	 MISCELLANEOUS PROVISIONS
	  	18
	 Section 9.1 Indemnification
	  	18
	 Section 9.2 Dispute Resolution
	  	19

  

 ii 

			
	 Section 9.3 Governing Law
	  	20
	 Section 9.4 Assignment
	  	20
	 Section 9.5 Entire Agreement; Amendments
	  	20
	 Section 9.6 Notices
	  	20
	 Section 9.7 Force Majeure
	  	21
	 Section 9.8 Compliance With Laws
	  	21
	 Section 9.9 Public Announcements
	  	21
	 Section 9.10 Use Of Names, Logos Or Symbols
	  	22
	 Section 9.11 Independent Contractors
	  	22
	 Section 9.12 No Strict Construction
	  	22
	 Section 9.13 Headings
	  	22
	 Section 9.14 No Implied Waivers; Rights Cumulative
	  	22
	 Section 9.15 Severability
	  	23
	 Section 9.16 Execution In Counterparts
	  	23
	 Section 9.17 No Third Party Beneficiaries
	  	23
	 Section 9.18 Performance By Affiliates
	  	23
	 Section 9.19 No Consequential Damages
	  	23
	 Section 9.20 Exhibits
	  	23
		
	 EXHIBITS
	  	
	 Exhibit A — Library Compound Delivery Requirements
	  	
	 Exhibit B — Form of Press Release
	  	

  

 iii 

 COLLABORATION AND LICENSE AGREEMENT 
 THIS COLLABORATION AND LICENSE AGREEMENT (the “Agreement”) dated the 22nd day of December, 2004 (the “Effective Date”) is by
and between INFINITY PHARMACEUTICALS, INC., a corporation organized and existing under the laws of the State of Delaware and having its principal office at 780 Memorial Drive, Cambridge, Massachusetts 02139 (“Infinity”), and
JOHNSON & JOHNSON PHARMACEUTICAL RESEARCH & DEVELOPMENT, a division of JANSSEN PHARMACEUTICA N.V., a Belgian business corporation organized and existing under the laws of Belgium with registration number RPR 0403.834.160,
VAT No. BE-403.834.160, and with registered office at B-2340 Beerse, Belgium, Turnhoutseweg 30 (“JJPRD”). 
 INTRODUCTION

 WHEREAS, Infinity and JJPRD and its Affiliates are each in the business of discovering, developing and commercializing
pharmaceutical products. 
 WHEREAS, Infinity Controls certain technology for the creation of large numbers of complex,
natural-compound-like compounds for the purpose of screening biological targets to identify potential human therapeutics. 
 WHEREAS,
pursuant to an agreement with Amgen Inc., Infinity has utilized such technology to create libraries of compounds for such purposes. 
 WHEREAS, Infinity and JJPRD are interested in collaborating on activities relating to the Infinity library compounds identified pursuant to the agreement with Amgen and subsequently and in providing for the opportunity for JJPRD to
develop and commercialize such compounds and their derivatives as potential pharmaceutical products. 
 WHEREAS, on the Effective
Date, Infinity and JJPRD Affiliate Johnson & Johnson Development Corporation (“JJDC”) are entering into a Series C Preferred Stock Purchase Agreement, pursuant to which JJDC shall purchase shares of Infinity’s Series C
Convertible Preferred Stock. 
 NOW, THEREFORE, Infinity and JJPRD agree as follows: 
 ARTICLE 1 
 DEFINITIONS

 When used in this Agreement, each of the following terms shall have the meanings set forth in this Article 1: 
 Section 1.1 Affiliate. “Affiliate” shall mean any corporation, company, partnership, joint venture and/or firm that controls, is
controlled by, or is under common control with a specified person or entity. For purposes of this Section 1.1, “control” shall be presumed to exist if one of the following conditions is met: (a) in the case of corporate entities,
direct or indirect 

  

 1 

 
ownership of more than fifty percent (50%) of the stock or shares having the right to vote for the election of directors, and (b) in the case of
non-corporate entities, direct or indirect ownership of more than fifty percent (50%) of the equity interest with the power to direct the management and policies of such non-corporate entities. The Parties acknowledge that in the case of
certain entities organized under the Laws of certain countries outside of the United States, the maximum percentage ownership permitted by Law for a foreign investor may be less than fifty percent (50%), and that in such case such lower percentage
shall be substituted in the preceding sentence, provided that such owner has the power to direct the management and policies of such entity. 
 Section 1.2 Amgen. “Amgen” means Amgen Inc., a Delaware corporation. 
 Section 1.3 Amgen Agreement.
“Amgen Agreement” means the Collaboration and License Agreement by and between Infinity and Amgen, dated as of December 9, 2003, as amended from time to time. 
 Section 1.4 Analog. “Analog” shall mean any compound that is derived by JJPRD from a compound included in the Library Compound Pool.

 Section 1.5 Back-Up Library Compound. “Back-Up Library Compound” shall mean, with respect to a compound included in the
Library Compound Pool for which JJPRD exercises a Library Compound Exclusivity Option, each other Library Compound that (a) is from the same Synthetic Pathway as, the relevant Library Compound for which JJPRD exercises the Library Compound
Exclusivity Option and (b) JJPRD designates in accordance with Section 3.6.2. 
 Section 1.6 Business Day. “Business
Day” shall mean a day other than a Saturday or Sunday or Federal holiday. 
 Section 1.7 Collaboration Term. “Collaboration
Term” shall mean, subject to any termination provisions of this Agreement, the period from the Effective Date to the later of December 31, 2005 or the date on which Infinity has delivered to JJPRD and JJPRD has accepted all Library
Compounds that Infinity is required to deliver hereunder. 
 Section 1.8 Confidential Information. “Confidential
Information” shall mean (a) all JJPRD Analog Information and [**] Information (which, with respect to the Infinity Know-How in [**] Information, shall be deemed to be JJPRD Confidential Information for as long as it is subject to the
respective licenses granted under Sections 3.1), which shall be deemed to be JJPRD Confidential Information, (b) all information relating to compounds included in the Library Compound Pool (other than [**]), and (c) all other proprietary
documents, technology, Know-How or other information (whether or not patentable) actually disclosed by one Party to the other pursuant to this Agreement and marked as “confidential” or “proprietary” (or if disclosed orally,
confirmed in writing within thirty (30) days thereafter). 
 Section 1.9 Control or Controlled. “Control” or
“Controlled” shall mean with respect to any (a) material, document, item of information, method, data or other Know-How or (b) intellectual property right, the possession (whether by ownership or license, other than by a 

  

 2 

 
license granted pursuant to this Agreement) by a Party or its Affiliates of the ability to grant to the other Party access, ownership, a license and/or a
sublicense as provided herein without violating the terms of any agreement or other arrangement with any Third Party entered into or existing as of the time such Party or its Affiliates would first be required hereunder to grant the other Party such
access, ownership, license, or sublicense. 
 Section 1.10 Development or Develop. “Development” or “Develop”
shall mean, with respect to a compound, preclinical and clinical drug development activities, including, among other things: test method development and stability testing, toxicology, formulation, process development, manufacturing scale-up,
development-stage manufacturing, quality assurance/quality control procedure development and performance with respect to clinical materials, statistical analysis and report writing and clinical studies. When used as a verb, “Develop” means
to engage in Development. 
 Section 1.11 Drug Discovery Program. “Drug Discovery Program” shall mean a JJPRD research
program, which is focused on researching (a) a compound included in the Library Compound Pool or (b) a JJPRD Analog. 
 Section
1.12 Equity Agreements. “Equity Agreements” shall mean the Stock Purchase Agreement and the Investor Rights Agreement. 
 Section 1.13 Exclusive Library Compound. “Exclusive Library Compound” shall mean each compound included in the Library Compound Pool with respect to which JJPRD exercises the Library Compound Exclusivity Option, together
with all Back-Up Library Compound(s) licensed to JJPRD pursuant to Sections 3.1.3 and 3.6.1 in connection with such exercise by JJPRD of the Library Compound Exclusivity Option by operation of Section 3.6.2. 
 Section 1.14 Exclusive Library Compound Information. “Exclusive Library Compound Information” shall mean all structural, process and
other information relating to an Exclusive Library Compound provided by Infinity to JJPRD and all such information generated by JJPRD. For the avoidance of doubt, Exclusive Library Compound Information includes [**] and [**] and [**] with respect to
the relevant Exclusive Library Compound. 
 Section 1.15 Executive Officers. “Executive Officers” shall mean the Chief
Executive Officer of Infinity (or a senior executive officer of Infinity designated by Infinity’s Chief Executive Officer) and the Chief Executive Officer of JJPRD (or a senior executive officer of JJPRD designated by JJPRD’s Chief
Executive Officer). 
 Section 1.16 Good Laboratory Practices or GLP. “Good Laboratory Practices” or “GLP” shall
mean the then-current good laboratory practice standards promulgated or endorsed by the FDA as defined in 21 C.F.R. Part 58, and comparable regulatory standards in jurisdictions outside the United States. 
 Section 1.17 Infinity Intellectual Property. “Infinity Intellectual Property” shall mean Infinity Know-How and Infinity Patent Rights.

  

 3 

 Section 1.18 Infinity Know-How. “Infinity Know-How” shall mean Know-How Controlled by
Infinity during the Collaboration Term, including without limitation Library Compound Structure Information. 
 Section 1.19 Infinity
Patent Rights. “Infinity Patent Rights” shall mean Patent Rights Controlled by Infinity. 
 Section 1.20 Investor Rights
Agreement. “Investor Rights Agreement” shall mean the Investor Rights Agreement entered into by the Parties on the Effective Date. 
 Section 1.21 JJPRD Analog. “JJPRD Analog” shall mean an Analog that is synthesized by JJPRD in the course of a Drug Discovery Program. 
 Section 1.22 JJPRD Analog Information. “JJPRD Analog Information” shall mean all structural, process and other information generated by JJPRD relating to an Analog. 
 Section 1.23 Know-How. “Know-How” shall mean any information and materials, whether proprietary or not and whether patentable or not,
including without limitation ideas, concepts, formulas, methods, procedures, designs, compositions, plans, documents, data, inventions, discoveries, works of authorship, compounds and biological materials, but excluding any such information or
materials disclosed in Patent Rights. 
 Section 1.24 Law or Laws. “Law” or “Laws” shall mean all laws, statutes,
rules, regulations, ordinances and other pronouncements having the effect of law of any federal, national, multinational, state, provincial, county, city or other political subdivision, domestic or foreign. 
 Section 1.25 Library Compound. “Library Compound” shall mean a compound included in the Library Compound Pool that is selected as a
Library Compound pursuant to Section 2.1.2 and delivered to JJPRD; provided that, in the event the Library Compound Structure Information for a compound physically delivered by Infinity as a Library Compound does not contain an accurate
description of the molecular formula or molecular structure of such compound, the compound delivered, but not the structure described, shall be deemed to be a Library Compound. 
 Section 1.26 Library Compound Pool. “Library Compound Pool” means all compounds controlled by Infinity that were identified and provided
to Amgen under the terms of the Amgen Agreement, prior to any renewals by Amgen. To the extent that the supply of compounds from any given Synthetic Pathway is insufficient to meet requirements hereunder, Infinity will use commercially reasonable
efforts to resynthesize compounds from such Synthetic Pathway; provided, however, that if Infinity is unable to supply compounds from any Synthetic Pathway, Infinity will include in the Library Compound Pool compounds from Synthetic Pathways not
provided to Amgen under the terms of the Amgen Agreement, prior to any renewals by Amgen, until Infinity has satisfied its obligation to provide JJPRD Library Compounds from a minimum of [**] Synthetic Pathways and a pool of [**] compounds.
Additionally, “Library Compound Pool” shall specifically include any compound referenced to JJPRD in a certain database to which Infinity has provided JJPRD access, any compound 

  

 4 

 
controlled by Infinity and made by Infinity by any one of synthetic pathways designated [**] and [**] prior to December 31, 2005 and any compound
Controlled by Infinity and made by Infinity by a diversity oriented chemistry synthetic pathway prior to December 31, 2005. Notwithstanding the foregoing, the Library Compound Pool will exclude any compound that (a) if delivered would
violate an obligation of Infinity of confidentiality to a Third Party, (b) is generated by Infinity as focused compound sets based on hits against a specific target, (c) was in Infinity’s [**] Hit-to-Lead Chemistry Programs in
existence as of 12/19/03, the effective date of the Amgen agreement, (which include, in the aggregate no more than [**] compounds), or (d) Infinity has previously filed a patent application that specifically claims the composition of matter by
a unique name or designation of the compound included in the Library Compound Pool prior to the date on which such compound was delivered to JJPRD. 
 Section 1.27 Library Compound Delivery Requirements. “Library Compound Delivery Requirements” shall mean the requirements set forth in Exhibit A relating to the Library Compounds to be delivered by Infinity to JJPRD
under this Agreement. 
 Section 1.28 Library Compound Exclusivity Option. “Library Compound Exclusivity Option” shall mean
JJPRD’s option to obtain exclusive rights with respect to a [**], if any, as further described in Section 3.6. 
 Section
1.29 Intentionally Blank. 
 Section 1.30 Library Compound Structure Information. “Library Compound Structure
Information” shall mean information (in the form of documentation or access thereto) relating to available molecular formula, molecular structure, purity, yield and process information including the production notebook of each compound included
in the Library Compound Pool which is Controlled by Infinity. For the avoidance of doubt, Library Compound Structure Information includes Synthetic Pathways. 
 Section 1.31 Party or Parties. “Party” shall mean JJPRD or Infinity. “Parties” shall mean JJPRD and Infinity. 
 Section 1.32 Patent Rights. “Patent Rights” shall mean all existing patents and patent applications and all patent applications hereafter filed and patents hereafter issued, including without
limitation any continuations, continuations-in-part, divisions, provisionals or any substitute applications, any patent issued with respect to any such patent applications, any reissue, reexamination, renewal or extension (including any supplemental
protection certificate) of any such patent, and any confirmation patent or registration patent or patent of addition based on any such patent, and all foreign counterparts of any of the foregoing. 
 Section 1.33 Stock Purchase Agreement. “Stock Purchase Agreement” shall mean the Series C Preferred Stock Purchase Agreement entered
into by Infinity and JJDC on the Effective Date. 
 Section 1.34 Synthetic Pathways. “Synthetic Pathways” shall mean, with
respect to a compound included in the Library Compound Pool, the synthetic scheme that Infinity used to synthesize the compound. 
  

 5 

 Section 1.35 Third Party. “Third Party” shall mean any person or entity other than a
Party or any of its Affiliates. 
 Section 1.36 Additional Definitions. Each of the following definitions is set forth in the section
of this Agreement indicated below: 
  

			
	 DEFINITION
	  	SECTION
	 Agreement
	  	Preamble
	 Bankruptcy Code
	  	3.4
	 Bound Party
	  	6.1
	 Controlling Party
	  	6.1
	 Effective Date
	  	Preamble
	 Infinity
	  	Preamble
	 Infinity Indemnified Parties
	  	9.1.1
	 JJPRD
	  	Preamble
	 JJPRD Indemnified Parties
	  	9.1.2
	 Library Compound Exclusivity Fee
	  	3.6.1(c)
	 Patent Prosecution
	  	5.1.3
	 Program Coordinator
	  	2.2.1
	 Second Back-Up Selection Date
	  	3.6.2
	 Severed Clause
	  	9.15

 ARTICLE 2 
 DELIVERY AND USE OF LIBRARY COMPOUNDS 
 Section 2.1 Delivery of Library Compounds. 

2.1.1 Infinity shall provide to JJPRD Library Compound Structural Information on all compounds included in the Library Compound Pool promptly
upon availability. 
 2.1.2 JJPRD will select from compounds included in the Library Compound Pool a number of Library Compounds in
accordance with the selection procedures set forth on Exhibit A to this Agreement. 
 2.1.3 For the Library Compounds being
resynthesized, Infinity may suggest to JJPRD the use of certain building blocks that are not represented in the Library Compound Pool along with the rationale for their suggested use. JJPRD may suggest to Infinity the use of certain building blocks
that are not represented in the Library Compound Pool along with the rationale for their suggested use. Each of JJPRD and Infinity will have the right to approve the use of such building blocks at their sole discretion and any Library Compounds
synthesized by Infinity with the use of such approved additional building blocks will be deemed Library Compounds and will be included in the Library Compound Pool. 
  

 6 

 2.1.4 Infinity shall deliver such Library Compounds to JJPRD in accordance with the Library
Compound Delivery Requirements in Exhibit A. 
 Section 2.2 Program Coordinators. 
 2.2.1 Designation. Each Party shall designate one of its employees to act as its liaison with the other Party for purposes of this Agreement (such
employees, the “Program Coordinators”). The Program Coordinators will be individuals with appropriate expertise in research and other matters relevant to this Agreement. The identities of the initial Program Coordinators will be
communicated by the Parties to each other no later than thirty (30) days after the Effective Date. Each Party may change its Program Coordinator at any time by providing written notice of such change to the other Party. 
 2.2.2 Duties. During the Collaboration Term, the Program Coordinators shall be responsible for ensuring the effective coordination of all
operational aspects of the relationship established by this Agreement and, to that end, shall communicate with one another regularly and meet with one another in person as they deem necessary or desirable. Without limiting the generality of the
foregoing, during the Collaboration Term, the Program Coordinators shall communicate with one another regularly regarding such matters as the selection of Library Compounds, the delivery by Infinity to JJPRD of Library Compounds, and the
exercise(s) by JJPRD of the Library Compound Exclusivity Option, if any. 
 ARTICLE 3 
 LICENSES 
 Section 3.1 Infinity
Grants. 
 3.1.1 Research License. Infinity hereby grants to JJPRD a worldwide, non-exclusive[**] license, under Infinity
Intellectual Property, to use compounds included in the Library Compound Pool and Library Compound Structure Information for research purposes in the discovery of JJPRD products (which license shall include the right to use Synthetic Pathways to
synthesize compounds included in the Library Compound Pool and JJPRD Analogs that derive from such compounds included in the Library Compound Pool, for the purpose of performing Drug Discovery Programs); provided that in the event Amgen exercises
its option to exclusively license any compounds included in the Library Compound Pool under the terms of the Amgen Agreement, the right to use Synthetic Pathways to synthesize such exclusively licensed compounds included in the Library Compound Pool
and JJPRD Analogs that are synthesized using such exclusively licensed compounds included in the Library Compound Pool shall terminate. With respect to any Exclusive Library Compound of JJPRD, the license set forth in this Section 3.1.1 shall
immediately and automatically become exclusive (even with respect to Infinity, but subject to any non-exclusive research licenses [and in the case of Amgen, non-exclusive research and development licenses granted under the Amgen Agreement] that had
been granted by Infinity to Third Parties with respect to the relevant compound included in the Library Compound Pool prior to such compound becoming an Exclusive Library Compound) upon JJPRD’s payment of the Library Compound Exclusivity Fee
pursuant to Section 3.6.1 of this 

  

 7 

 
Agreement and such license shall survive in perpetuity (subject to any terms and conditions of this Agreement expressly providing for [**]). Subject to
Section 3.3, the licenses set forth in this Section 3.1.1 shall further include the right to grant sublicenses to Affiliates of JJPRD and to Third Party collaborators (provided such collaborators are under an obligation to not determine
the structure of any compound included in the Library Compound Pool) and Third Party contractors engaged solely on a fee-for-service basis. 
 3.1.2 License Limitation and Clarification. 
 (a) For the avoidance of doubt, the purpose of the
licenses granted in Sections 3.1 with respect to Synthetic Pathways is to perform Drug Discovery Programs and not to enable JJPRD to use Synthetic Pathways broadly to duplicate all or substantially all of the Library Compounds delivered to JJPRD for
purpose of selling or distributing such libraries. 
 (b) The Parties understand, agree and hereby acknowledge that, to
the extent permitted by the other provisions of this Agreement, JJPRD will and shall have complete rights to include all compounds included in the Library Compound Pool, including [**], and [**] and [**] for its [**] and [**] for its [**].

 3.1.3 Exclusive Commercialization License With Respect to Exclusive Library Compounds. Infinity hereby grants to JJPRD a worldwide,
exclusive license (subject to the non-exclusive research and development license granted to Amgen under the Amgen Agreement), under Infinity Intellectual Property, to Develop products that contain Library Compounds and to [**] in Exclusive Library
Compounds for any purposes. Such license shall survive in perpetuity subject to any terms and conditions of this Agreement expressly providing [**] of such license. Subject to Section 3.3, the licenses set forth in this Section 3.1.3 shall
further include the [**]. 
 3.1.4 Commercialization Licenses With Respect to Analogs. Infinity hereby grants to JJPRD (a) a
worldwide, perpetual (subject to any terms and conditions of this Agreement expressly providing survive in perpetuity of such license), non-exclusive license, under Infinity Intellectual Property that [**] to [**] and [**]. Subject to
Section 3.3, the licenses set forth in this Section 3.1.4 shall further include the [**]. 
 Section 3.2 Limited JJPRD
Grant. If in the course of using compounds included in the Library Compound Pool, JJPRD Analogs or Know-How related thereto JJPRD makes an invention which results in the filing of Patent Rights, JJPRD hereby grants to Infinity a worldwide,
royalty-free, non-exclusive license to make, use, offer for sale, sell and import solely compounds of the Library Compound Pool (but excluding Exclusive Library Compounds) under only those composition of matter claims of any such Patent Right
Controlled by JJPRD that include within their scope the composition of matter of a compound included in the Library Compound Pool. Such JJPRD license is not granted under any other type of claims within any Patent Right Controlled by JJPRD
including, without limitation, process of making, method of use or pharmaceutical composition claims. Such license shall survive in perpetuity subject to any terms and conditions of this Agreement expressly providing for the termination of such
license, including without limitation the provisions of Section 3.6.4. Subject to Section 3.3, such 

  

 8 

 
license shall further include the right to grant sublicenses to Affiliates of Infinity and to Third Parties. 
 Section 3.3 Sublicense Rights. Wherever in this Agreement either Party is granted the right to grant sublicenses (including granting to
sublicensees the right to grant further sublicenses for the purposes of having Library Compounds and JJPRD Analogs made) subject to this Section 3.3, such Party may exercise such right without obtaining the prior approval of the other Party,
provided that such sublicense occurs pursuant to a written agreement that subjects such sublicensee to all relevant restrictions and limitations in this Agreement. Except as otherwise agreed to by the Parties in writing, each Party shall be
jointly and severally responsible with its sublicensees to the other Party for failure by its sublicensees to comply with, and each Party guarantees the compliance by each of its sublicensees with, all such applicable restrictions and limitations in
accordance with the terms and conditions of this Agreement. 
 Section 3.4 Section 365(n) Of The Bankruptcy Code. All rights and
licenses granted under or pursuant to any section of this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of Title 11 of the United States Code, as amended (such Title 11, the “Bankruptcy Code”),
licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. The Parties shall retain and may fully exercise all of their respective rights and elections under the Bankruptcy Code.

 Section 3.5 No Implied Licenses Or Rights. Except as expressly provided in this Agreement, neither Party shall have any license or
other interest in any intellectual property rights Controlled by the other Party. 
 Section 3.6 Library Compound Exclusivity
Option. 
 3.6.1 Option. 
 (a) JJPRD shall have the right to exercise the Library Compound Exclusivity Option in accordance with this Section 3.6.1 with respect to each compound included in the Library Compound Pool. In the event
that JJPRD desires to exercise the Library Compound Exclusivity Option with respect to a compound included in the Library Compound Pool, JJPRD shall give Infinity written notice of such desire which notice shall specify the compound with respect to
which JJPRD desires to exercise the Library Compound Exclusivity Option. 
 (b) Within [**] Business Days after
receiving JJPRD’s notice, Infinity shall notify JJPRD of whether, prior to the date of receipt of JJPRD’s notice, (i) [**] and [**], (ii) Infinity [**]including [**] and [**] and [**] directed to the same [**] requested by JJPRD
and Infinity is [**] either [**] or [**] or (iii) Infinity has [**] that specifically claims the [**] requested by JJPRD and has [**] therefor. If any of the conditions described in clauses (i), (ii) or (iii) of the immediately
preceding sentence exist, then JJPRD shall not be permitted to exercise the Library Compound Exclusivity Option with respect to such compound included in the Library Compound Pool. If Infinity does not notify JJPRD that such compound included in the
Library Compound Pool is unavailable in accordance with Section 3.6.1(b) within [**] Business Days after JJPRD delivered its notice to Infinity, then JJPRD shall have [**] Business Days 

  

 9 

 
following such [**] day period to exercise the Library Compound Exclusivity Option with respect to such compound included in the Library Compound Pool by
paying to Infinity $[**] (which, together with the amounts specified below in Section 3.6.2 for additional Back-Up Library Compounds, if any, shall be designated the “Library Compound Exclusivity Fee”). Upon receipt of such payment,
the applicable compound included in the Library Compound Pool shall become an Exclusive Library Compound. During the [**] or [**] day periods described in this Section 3.6.1(c), Infinity shall not grant any conflicting right to any Third Party
or otherwise take any action inconsistent with JJPRD’s exercise of its option to obtain exclusive rights to the requested compound included in the Library Compound Pool, including without limitation, filing any patent applications and
conducting any research activities with such compound(s). 
 3.6.2 Back-Up Library Compounds. In connection with each exercise of the
Library Compound Exclusivity Option, JJPRD shall be entitled to elect additional Back-Up Library Compounds, each of which must be available in accordance with the criteria for availability set forth in Section 3.6.1(b), for additional payments
of $[**] compound to the base Library Compound Exclusivity Fee set forth in Section 3.6.1(c). JJPRD may exercise its election of any of such Back-Up Library Compounds either at the time, or on any single day prior to the [**] (the “Second
Back-Up Selection Date”), of JJPRD’s exercise of the applicable Library Compound Exclusivity Option. To the extent that any of the Back-Up Library Compounds JJPRD elects are not available in accordance with the criteria for availability
set forth in Section 3.6.1(b), JJPRD shall have the right to select other Back-Up Library Compounds until such time as it has obtained rights to at least [**] Back-Up Library Compounds. JJPRD must select at least [**] Back-Up Library Compounds
or make the corresponding additional payments therefore under this Section 3.6.2 related to a particular exercise of the Library Exclusivity Option under Section 3.6.1 before JJPRD may exercise a subsequent Library Exclusivity Option under
Section 3.6.1. The Parties shall document in writing JJPRD’s designation of Back-Up Library Compounds in connection with each exercise of the Library Compound Exclusivity Option. The identity of compounds elected by JJPRD under this
paragraph shall be the Confidential Information of JJPRD. Infinity may disclose the identity of compounds elected by JJPRD only to the extent necessary to refuse the request of third parties who are seeking to exercise an equivalent option on a
specific compound included in the Library Compound Pool. 
 3.6.3 Infinity Covenant Regarding Exclusive Library Compounds. In addition
to the license granted by Infinity to JJPRD set forth in Section 3.1.3 with respect to Exclusive Library Compounds, Infinity hereby covenants that from and after JJPRD’s exercise of the Library Compound Exclusivity Option with respect to
Exclusive Library Compounds, Infinity shall remove such [**] from all [**] by Infinity to [**] and shall not [**] or [**] to [**] with respect to such [**] set forth in Section 3.1.3 with respect to such [**] remains in effect. Infinity further
agrees and covenants that Infinity shall not use JJPRD Confidential Information to make, use or otherwise conduct any research or development with Exclusive Library Compounds or any compounds derived from Exclusive Library Compounds. 
 3.6.4 Termination of Certain License Rights. Upon JJPRD’s exercise of the Library Compound Exclusivity Option with respect to
Exclusive Library Compounds, the license granted by JJPRD to Infinity in Section 3.2 shall terminate with respect to such Exclusive Library Compounds. 
  

 10 

 ARTICLE 4 
 FINANCIAL PROVISIONS 
 Section 4.1 License Fee. Within forty-five (45) days of the
Effective Date JJPRD will pay a one-time license fee of Two Million Five Hundred Thousand Dollars ($2,500,000). 
 ARTICLE 5

 INTELLECTUAL PROPERTY OWNERSHIP, PROTECTION AND RELATED MATTERS 
 Section 5.1 Ownership. 
 5.1.1
Inventorship. Inventorship of inventions conceived or reduced to practice during the course of the performance of activities pursuant to this Agreement shall be determined in accordance with the applicable U.S. patent Laws. 
 5.1.2 Ownership. All inventions or discoveries made, and materials (including without limitation, compounds included in the Library Compound Pool
and Analogs) and information created, by employees, Affiliates, agents, independent contractors or consultants of each Party, in the course of conducting activities under this Agreement, together with all intellectual property rights therein, shall
be owned by the Party or Parties to which such employees, Affiliates, agents, independent contractors or consultants have an obligation to assign such inventions or discoveries. Subject to the provisions of Article 3, JJPRD shall own all rights,
title and interest in all JJPRD Analogs, JJPRD Analog Information, JJPRD Confidential Information and all Patent Rights relating to any of the foregoing, but specifically excluding any Infinity Patent Right. 
 Regardless of the foregoing, in the event that JJPRD files a patent application that includes as its claimed invention compounds included in the Library
Compound Pool within either the generic or specific scope of its composition of matter claims and it is determined that an employee, agent, independent contractor or consultant of Infinity, having an obligation to assign inventions or discoveries to
Infinity, is an inventor of such claimed invention, then Infinity will assign such claimed invention to JJPRD, except for the claimed scope of such inventions or discoveries as to which Infinity has previously filed a patent application prior to
JJPRD’s notice to Infinity of the invention or discovery. 
 5.1.3 Prosecution and Maintenance of Patent Rights. 
 (a) The responsibility for (i) preparing, filing and prosecuting patent applications (including, but not limited to,
provisional, reissue, continuing, continuation, continuation-in-part, divisional, and substitute applications and any foreign counterparts thereof); (ii) maintaining any Patent Rights; and (iii) managing any interference or opposition or
similar proceedings relating to the foregoing ((i) through (iii), “Patent Prosecution”) shall (A) with respect to Patent Rights for which the employees, consultants or agents of both Parties are inventors, rest with JJPRD (in which
case Infinity shall provide any reasonable cooperation 

  

 11 

 
requested by JJPRD with respect to such Patent Prosecution) and (B) with respect to Patent Rights for which the employees, consultants or agents of
JJPRD (but not of Infinity) are inventors, rest with JJPRD (in which case Infinity shall provide any reasonable cooperation requested by JJPRD with respect to such Patent Prosecution), and otherwise, rest with the owning Party. 
 (b) All Patent Prosecution expenses, including attorneys’ fees, incurred by a Party in the performance of Patent Prosecution shall be borne
by such Party. 
 Section 5.2 Third Party Infringement. 
 5.2.1 Notice. Each Party shall promptly provide the other Party with written notice reasonably detailing any known or alleged infringement by a Third Party of Infinity Patent Rights or Patent
Rights owned or otherwise controlled by JJPRD that claim the composition of matter of any Exclusive Library Compound. 
 5.2.2
Enforcement. JJPRD shall have the sole right, but not the obligation, to institute and direct legal proceedings against any Third Party believed to be infringing claims of Infinity Patent Rights relating to the Exclusive Library
Compounds, including, but not limited to those that claim the composition of matter, method of making, use and pharmaceutical composition of any Exclusive Library Compound by the manufacture, use, importation, offer for sale or sale of a product
competitive with a JJPRD Product; provided that such right shall only continue for so long as the license granted to JJPRD with respect to such Exclusive Library Compound remains in effect. All costs, including attorneys’ fees, relating
to such legal proceedings shall be borne by JJPRD, and JJPRD shall reimburse Infinity for any such costs incurred by Infinity. All recoveries resulting from such legal proceedings that are in excess of the Parties’ costs of bringing or
participating in such action, including attorney’s fees shall be retained by JJPRD. 
 5.2.3 Cooperation In Patent
Infringement Proceedings. In the event that JJPRD takes action pursuant to this Section 5.2, Infinity shall cooperate to the extent reasonably necessary and at JJPRD’s sole expense. Upon the reasonable request of JJPRD, Infinity shall
join the suit and shall have the right to be represented in any such legal proceedings using counsel of its own choice, at JJPRD’s expense. JJPRD shall not settle any claim or proceeding relating to any Infinity Patent Rights with respect to
which JJPRD takes action pursuant to this Section 5.2 without the prior written consent of Infinity, which consent shall not be unreasonably withheld or delayed. 
 ARTICLE 6 
 CONFIDENTIALITY 
 Section 6.1 Confidential Information. All Confidential Information of a Party shall not be used by the other Party (the “Bound
Party”) except in performing its obligations or exercising rights explicitly granted under this Agreement and shall be maintained in confidence by the Bound Party and shall not otherwise be disclosed by the Bound Party to any Third Party,

  

 12 

 
without the prior written consent of the Party that Controls such Confidential Information (the “Controlling Party”), except to the extent that the
Confidential Information: 
 6.1.1 was known by the Bound Party or its Affiliates prior to its date of disclosure to the Bound Party;
or 
 6.1.2 is lawfully disclosed to the Bound Party or its Affiliates by sources other than the Controlling Party rightfully in
possession of the Confidential Information; or 
 6.1.3 becomes published or generally known to the public through no fault or
omission on the part of the Bound Party, its Affiliates or its sublicensees; or 
 6.1.4 is independently developed by or for the
Bound Party or its Affiliates without reference to or reliance upon such Confidential Information. 
 Specific information shall not be
deemed to be within any of the foregoing exclusions merely because it is embraced by more general information falling within those exclusions. 
 Section 6.2 Permitted Disclosure. 
 6.2.1 The provisions of Section 6.1 shall not preclude (a) a Bound
Party or its Affiliates from disclosing Confidential Information to the extent such Confidential Information is required to be disclosed by such Party or its Affiliates to comply with applicable Laws or legal process, including without limitation
the rules or regulations of the United States Securities and Exchange Commission or similar regulatory agency in a country other than the United States or of any stock exchange, including without limitation Nasdaq, or to defend or prosecute
litigation, provided that such Party provides prior written notice of such disclosure to the disclosing Party and takes reasonable and lawful actions to avoid and/or minimize the degree of such disclosure and (b) JJPRD from disclosing
and/or claiming Infinity’s Confidential Information (including, without limitation, chemical structures and methods of making such chemical structures) in JJPRD’s patent applications, in the prosecution of such patent applications and in
regulatory filings for the purpose of gaining approval to market JJPRD products consistent with the terms and conditions of Article 5 above. 
 6.2.2 Subject to Sections 6.2.3 and 9.9, the Parties agree that the material financial terms of this Agreement will be considered Confidential Information of both Parties. Notwithstanding the foregoing, (a) either Party may
disclose such terms to bona fide potential or actual sublicensees, as reasonably necessary in connection with a permitted sublicense under the licenses granted in this Agreement, and (b) either Party may disclose the material financial terms of
this Agreement to bona fide potential or actual investors, lenders, investment bankers, acquirors, acquirees, merger partners or other potential financial partners (including pharmaceutical and biotechnology companies, as long as such company owns
at least fifty percent (50%) of the disclosing Party), and to such Party’s consultants and advisors, as reasonably necessary in connection with a proposed equity or debt financing of such Party or as reasonably necessary in connection with
a proposed acquisition or business combination. In connection with any permitted disclosure of Confidential Information pursuant to this Section 

  

 13 

 
6.2.2, each Party agrees to use all reasonable efforts to inform each disclosee of the confidential nature of such information and cause each disclosee to
treat such information as confidential. 
 6.2.3 Notwithstanding any provision to the contrary in this Agreement, either Party may
disclose to any and all persons, without limitation of any kind, the United States federal tax treatment and tax structure of the transactions set forth in this Agreement and all materials of any kind (including opinions or other tax analyses) that
are provided to the Parties relating to such tax treatment and tax structure. 
 Section 6.3 Employee And Advisor
Obligations. Infinity and JJPRD each agree that they shall provide Confidential Information that is jointly owned or received from the other Party only to their respective employees, consultants and advisors, and to the employees,
consultants and advisors of such Party’s Affiliates, who have a need to know such information and materials for performing obligations or exercising rights expressly granted under this Agreement and have an obligation to treat such information
and materials as confidential. 
 Section 6.4 Term. All obligations under this Article 6 shall expire five
(5) years following termination or expiration of this Agreement. 
 Section 6.5 Publications. Neither JJPRD nor its
Affiliates, employees, contractors or investigators shall publish or present any information with respect to the structure of any Library Compound, other than any Exclusive Library Compound, without Infinity’s prior written consent (which may
be withheld in its sole and final discretion). 
 ARTICLE 7 
 TERM AND TERMINATION 
 Section 7.1 Agreement Term. This
Agreement becomes effective as of the Effective Date and shall expire upon the earlier of (a) the termination of this Agreement in accordance with Sections 7.2 or 7.3, or (b) the permanent cessation by JJPRD of all research and Development
activities with respect to all compounds included in the Library Compound Pool and JJPRD Analogs. 
 Section 7.2 Termination For
Convenience. JJPRD shall have the right to terminate this Agreement for convenience upon sixty (60) days prior written notice to Infinity. 
 Section 7.3 Termination For Material Breach. If either Party believes that the other is in material breach of this Agreement (including without limitation any material breach of a representation or warranty made in this
Agreement), then the non-breaching Party may deliver notice of such breach to the allegedly breaching Party. In such notice the non-breaching Party shall identify the actions or conduct that such Party would consider to be an acceptable cure of such
breach. For all breaches, the allegedly breaching Party shall have sixty (60) days to either cure such breach or, if cure cannot be reasonably effected within such sixty (60) day period, to deliver to the other Party a plan for curing such
breach that is reasonably sufficient to effect a cure. Such a plan shall set forth a program for achieving cure as rapidly as practicable. Following delivery of such plan, the allegedly breaching Party shall use diligent efforts to carry 

  

 14 

 
out the plan and cure the breach. If the allegedly breaching Party fails to cure such breach within the sixty (60) day period, the non-breaching Party
may terminate this Agreement upon written notice to the allegedly breaching Party. 
 Section 7.4 Effect Of Termination; Accrued Rights;
Surviving Obligations. 
 7.4.1 Upon termination of this Agreement by JJPRD pursuant to Section 7.2, (a) all licenses
granted by Infinity to JJPRD hereunder shall terminate, and (b) all licenses granted hereunder by JJPRD to Infinity shall remain in effect on an irrevocable and perpetual basis. 
 7.4.2 Upon termination of this Agreement by JJPRD pursuant to Section 7.3, (a) all licenses granted by Infinity to JJPRD hereunder shall
remain in effect in accordance with the terms and conditions set forth in the grant, (b) all licenses granted hereunder by JJPRD to Infinity shall remain in effect in accordance with the terms and conditions set forth in the grant, and
(c) all payment obligations of JJPRD hereunder shall remain in effect, subject to the right for JJPRD to offset, prior to and until the determination of actual damages pursuant to Section 7.4.4, against any payment obligations set forth in
this Agreement such amounts as reasonably reflect the nature, circumstances and significance of the breach leading to such termination and the damages, if any, suffered by JJPRD and provided that, to the extent that any such offsets actually
taken exceed the actual damages to which JJPRD is ultimately determined to be entitled, JJPRD shall reimburse Infinity for such excess offsets, along with interest earned thereon at the rate of the lesser of ten percent (10%) per year or the
highest rate permitted by applicable law. 
 7.4.3 Upon termination of this Agreement by Infinity pursuant to Section 7.3,
(a) all licenses granted hereunder by JJPRD to Infinity shall remain in effect in accordance with the terms and conditions set forth in the grant, (b) all licenses granted by Infinity to JJPRD hereunder shall remain in effect in accordance
with the terms and conditions set forth in the grant, and (c) all payment obligations of JJPRD hereunder shall remain in effect. 
 7.4.4 For the sake of clarity, each Party shall have the right to seek any damages to which it is entitled, whether in law, equity or otherwise. 
 7.4.5 Upon the termination or the expiration of this Agreement, the following provisions of this Agreement shall survive: Articles 1, 6 and 9, and Sections 3.3 (to the extent that any licenses subject to
Section 3.3 survive), 3.4, 5.1 and 8.6 and this Section 7.4. 
 7.4.6 Termination or expiration of the Agreement for any
reason, and any benefit accruing to JJPRD from any reduction in payments pursuant to Section 7.4.2(b), shall be without prejudice to any rights that shall have accrued to the benefit of either Party prior to such termination or expiration,
including, without limitation, any other remedies available to such Party in law or equity. Such termination or expiration shall not relieve either Party from obligations that are expressly indicated to survive termination or expiration of the
Agreement. 
  

 15 

 ARTICLE 8 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 Section 8.1 Representation Of Authority;
Consents. Infinity and JJPRD each represents and warrants to the other Party that, as of the Effective Date, (a) it has full right, power and authority to enter into this Agreement, (b) this Agreement has been duly executed by
such Party and constitutes a legal, valid and binding obligation of such Party, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium and other
Laws relating to or affecting creditors’ rights generally and by general equitable principles and public policy constraints (including those pertaining to limitations and/or exclusions of liability, competition Laws, penalties and
jurisdictional issues including conflicts of Laws) and (c) all necessary consents, approvals and authorizations of all government authorities and other persons required to be obtained by such Party in connection with the execution, delivery and
performance of this Agreement have been and shall be obtained. 
 Section 8.2 No Conflict. Each Party represents to the
other Party that, notwithstanding anything to the contrary in this Agreement, the execution and delivery of this Agreement and the performance of such Party’s obligations hereunder (a) do not conflict with or violate such Party’s
corporate charter and bylaws or any requirement of applicable Laws and (b) do not and shall not conflict with, violate or breach or constitute a default or require any consent under, any oral or written contractual obligation of such Party.
Each Party agrees that it shall not during the term of this Agreement grant any right, license, consent or privilege to any Third Party or otherwise undertake any action, either directly or indirectly, that would conflict with the rights granted to
the other Party or interfere with any obligations of such Party set forth in this Agreement. 
 Section 8.3 Knowledge Of Pending Or
Threatened Litigation. Each Party represents and warrants to the other Party that there is no claim, investigation, suit, action or proceeding pending or, to the knowledge of such Party, expressly threatened, against such Party that,
individually or in the aggregate, could reasonably be expected to (a) materially impair the ability of such Party to perform any obligation under this Agreement or (b) prevent or materially delay or alter the consummation of any or all of
the transactions contemplated hereby. 
 Section 8.4 Employee And Consultant Obligations. 
 8.4.1 Each Party represents and warrants that all of its employees, officers, and consultants that are supporting the performance of its
obligations under this Agreement shall have executed agreements requiring, in the case of consultants, employees and officers, assignment to such Party of all inventions made during the course of and as the result of their association with such
Party and, in the case of employees, officers and consultants, obligating the individual to maintain as confidential such Party’s Confidential Information as well as Confidential Information of the other Party that such Party may receive, to
the extent required to support such Party’s obligations under this Agreement. 
  

 16 

 8.4.2 Infinity represents and warrants that it shall use commercially reasonable efforts to
maintain its agreement(s) with any Third Party under which Infinity obtains licenses under rights necessary for its performance under this Agreement, which agreement(s) are in effect during the term of this Agreement. As of the Effective Date, to
the best of its knowledge, Infinity does not require any licenses under the Patent Rights or other intellectual property rights of any Third Party to perform its obligations and grant the licenses set forth herein. 
 Section 8.5 Intellectual Property. Infinity represents and warrants that as of the Effective Date: 
 8.5.1 it has not received any written claim made against it asserting the non-patentability, invalidity, misuse, unregisterability,
unenforceability or non-infringement of any of intellectual property rights associated with Library Compounds or challenging its right to use or ownership of any of such intellectual property rights or Library Compounds or making any adverse claim
of ownership thereof; and 
 8.5.2 it is not aware of any pending or threatened claim or litigation (or received notice of a potential
claim or litigation) which alleges that its activities up to the Effective Date relating to Library Compounds have violated, or by conducting the activities currently proposed to be conducted hereunder would violate, the intellectual property rights
or the right to use or ownership of any Third Party. 
 Section 8.6 Disclaimer Of Warranty. Nothing in this Agreement shall be
construed as a representation made or warranty given by either Party that either Party will be successful in obtaining any Patent Rights, that any patents will issue based on pending applications or that any such pending applications or patents
issued thereon will be valid. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, EACH PARTY EXPRESSLY DISCLAIMS, WAIVES, RELEASES AND RENOUNCES ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. 
 Section 8.7 Additional Covenants Of Infinity. Infinity represents and warrants that as
of the Effective Date: 
 8.7.1 Infinity owns, or, at the time of transfer to JJPRD, will own all physical materials transferred to
JJPRD under this Agreement. 
 8.7.2 Without the prior written consent of JJPRD, Infinity will not knowingly or negligently make and
deliver any Library Compounds that are in the public domain or covered by Third Party patents at the time of transfer; provided, however, that Infinity shall be under no obligation to perform public domain or freedom to operate
searches or analyses. 
 Section 8.8 Performance Standards. Infinity shall use commercially reasonable efforts to ensure that
the materials, equipment and facilities to be used by Infinity under this Agreement shall be of the same quality as Infinity uses in its own research of similar nature. Infinity covenants that it shall commit the personnel, facilities and resources
to perform the 

  

 17 

 
research and experimentation necessary or useful to accomplish the goals and objectives set forth in this Agreement. Infinity shall conduct its activities
under this Agreement in accordance with generally acceptable standards in the pharmaceutical industry and in compliance in all material respects with applicable Laws. 
 ARTICLE 9 
 MISCELLANEOUS PROVISIONS 
 Section 9.1 Indemnification. 
 9.1.1 JJPRD. JJPRD agrees, at JJPRD’s cost and expense, to defend, indemnify and hold harmless Infinity and its Affiliates and their respective directors, officers, employees and agents (the “Infinity
Indemnified Parties”) from and against any losses, costs, damages, fees or expenses arising out of any Third Party claim relating to (a) any breach by JJPRD of any of its representations, warranties or obligations pursuant to this
Agreement, (b) the gross negligence or willful misconduct of JJPRD or (c) injuries resulting from JJPRD’s activities conducted in connection with this Agreement or from the development, manufacture, use, sale or other disposition by
JJPRD of any product containing or derived from a compound included in the Library Compound Pool. In the event of any such claim against the Infinity Indemnified Parties by any Third Party, Infinity shall promptly notify JJPRD in writing of the
claim and JJPRD shall manage and control, at its sole expense, the defense of the claim and its settlement. The Infinity Indemnified Parties shall cooperate with JJPRD and may, at their option and expense, be separately represented in any such
action or proceeding. JJPRD shall not be liable for any litigation costs or expenses incurred by the Infinity Indemnified Parties without JJPRD’s prior written authorization. In addition, JJPRD shall not be responsible for the indemnification
or defense of any Infinity Indemnified Party to the extent arising from any negligent or intentional acts by any Infinity Indemnified Party or the breach by Infinity of any obligation or warranty under this Agreement, or any claims compromised or
settled without its prior written consent. 
 9.1.2 Infinity. Infinity agrees, at Infinity’s cost and expense, to
defend, indemnify and hold harmless JJPRD and its Affiliates and their respective directors, officers, employees and agents (the “JJPRD Indemnified Parties”) from and against any losses, costs, damages, fees or expenses arising out of any
Third Party claim relating to (a) any breach by Infinity of any of its representations, warranties or obligations pursuant to this Agreement, (b) the gross negligence or willful misconduct of Infinity or (c) injuries resulting from
Infinity’s activities conducted in connection with this Agreement or from the development, manufacture, use, sale or other disposition by Infinity of any product containing or derived from a compound included in the Library Compound Pool. In
the event of any such claim against the JJPRD Indemnified Parties by any Third Party, JJPRD shall promptly notify Infinity in writing of the claim and Infinity shall manage and control, at its sole expense, the defense of the claim and its
settlement. The JJPRD Indemnified Parties shall cooperate with Infinity and may, at their option and expense, be separately represented in any such action or proceeding. Infinity shall not be liable for any litigation costs or expenses incurred by
the JJPRD Indemnified Parties without Infinity’s prior written authorization. In addition, Infinity shall not be responsible for the indemnification or defense of any JJPRD Indemnified Party to the extent arising from any negligent or
intentional 

  

 18 

 
acts by any JJPRD Indemnified Party, or the breach by JJPRD of any obligation or warranty under this Agreement, or any claims compromised or settled without
its prior written consent. 
 Section 9.2 Dispute Resolution. 
 9.2.1 Any controversy, claim or dispute arising out of or relating to this Agreement shall be settled, if possible, through good faith
negotiations between the Parties. If, however, the Parties are unable to settle such dispute after good faith negotiations, the matter shall be referred to the Executive Officers, who shall attempt to resolve the dispute in good faith. Such
resolution, if any, of a referred issue shall be final and binding on the Parties. All negotiations pursuant to this Section 9.2.1 are confidential and shall be treated as compromise and settlement negotiations for purposes of applicable rules
of evidence. 
 9.2.2 If the Executive Officers are unable to settle the controversy, claim or dispute after good faith negotiation
pursuant to Section 9.2.1, then such must be finally settled by arbitration. The arbitration shall be resolved before a single arbitrator in accordance with the Commercial Arbitration Rules of the American Arbitration Association
(“AAA”) then pertaining (available at www.adr.org), except where those rules conflict with this provision, in which case this provision controls. Any court with jurisdiction shall enforce this clause and enter judgment on any award. The
arbitrator shall be selected within twenty business days from commencement of the arbitration from the AAA’s National Roster of Arbitrators pursuant to agreement or through selection procedures administered by the AAA. Within 45 days of
initiation of arbitration, the parties shall reach agreement upon and thereafter follow procedures, including limits on discovery, assuring that the arbitration will be concluded and the award rendered within no more than eight months from selection
of the arbitrator or, failing agreement, procedures meeting such time limits will be designed by the AAA and adhered to by the parties. The arbitration shall be held in New York City, except that the interpretation and enforcement of this
arbitration provision shall be governed by the Federal Arbitration Act. Prior to appointment of the arbitrator or thereafter if he is unavailable, emergency relief is available from any court to avoid irreparable harm as provided in
Section 9.2.3. THE ARBITRATOR SHALL NOT AWARD EITHER PARTY PUNITIVE, EXEMPLARY, MULTIPLIED OR CONSEQUENTIAL DAMAGES, OR ATTORNEYS FEES OR COSTS. Prior to commencement of arbitration, the parties must attempt to mediate their dispute using a
professional mediator from AAA, the CPR Institute for Dispute Resolution, or like organization selected by agreement or, absent agreement, through selection procedures administered by the AAA. Within a period of 45 days after the request for
mediation, the parties agree to convene with the mediator, with business representatives present, for at least one session to attempt to resolve the matter. In no event will mediation delay commencement of the arbitration for more than 45 days
absent agreement of the parties or interfere with the availability of emergency relief. 
 9.2.3 Notwithstanding anything to the
contrary in this Section 9.2, any Party may seek immediate injunctive or other interim relief from any court of competent jurisdiction as necessary to enforce and prevent infringement or misappropriation of the Patent Rights, Know-How,
Confidential Information or other intellectual property rights Controlled by a Party. 
  

 19 

 Section 9.3 Governing Law. This Agreement shall be construed and the respective rights of
the Parties determined according to the substantive laws of the State of New York notwithstanding the provisions governing conflicts of law under such New York law to the contrary. 
 Section 9.4 Assignment. Neither Infinity nor JJPRD may assign this Agreement in whole or in part without the consent of the other,
except if such assignment occurs in connection with the sale or transfer (by merger or otherwise) of all or substantially all of the business and assets of Infinity or JJPRD to which the subject matter of this Agreement pertains, and then only if
the acquirer confirms to the other Party in writing its agreement to be bound by all of the terms and conditions of this Agreement. Each Party agrees that, notwithstanding any provisions of this Agreement to the contrary, in the event that this
Agreement is assigned by either Party in connection with the sale or transfer of all or substantially all of the business and assets of such Party to which the subject matter of this Agreement pertains, such assignment shall not provide the
non-assigning Party with rights or access to intellectual property or technology of the acquiror of such Party. Notwithstanding the foregoing, either Party may assign this Agreement to an Affiliate, provided that such Party shall guarantee
the performance of such Affiliate and JJPRD may assign any or all of its rights as to any particular compound in human development or commercialized to any third party without the permission of Infinity Any purported assignment not in accordance
with this Section 9.4 shall be void and of no effect. 
 Section 9.5 Entire Agreement; Amendments. This Agreement and the
Exhibits referred to in this Agreement, constitute the entire agreement between the Parties with respect to the subject matter hereof, and supersede all previous arrangements with respect to the subject matter hereof, whether written or oral. The
Parties also acknowledge the simultaneous execution and delivery of the Equity Agreements, which shall not be superseded by this Agreement. Any amendment or modification to this Agreement shall be made in writing signed by both Parties. 

Section 9.6 Notices. Notices to Infinity shall be addressed to: 
 Infinity Pharmaceuticals, Inc. 
 780 Memorial
Drive 
 Cambridge, Massachusetts 02139 
 Attention: Chief Executive Officer 
 Facsimile No.: (617) 453-1001 
 with a copy to: 
 Wilmer Cutler Pickering
Hale and Dorr LLP 
 60 State Street 
 Boston, Massachusetts 02109 
 Attention: Steven D. Singer, Esq. 
 Facsimile No.: (617) 526-5000 
  

 20 

 Notices to JJPRD shall be addressed to: 
 Johnson & Johnson Pharmaceutical Research and 
 Development 
 Turnhoutseweg, 30 
 2340 B-Beerse, Belgium 
 Attention: President 
 with a copy to: 
 Johnson & Johnson

 Office of General Counsel 
 One
Johnson & Johnson Plaza 
 New Brunswick, NJ 08933 
 Attention: Michael Ullmann, Esq. 
 Facsimile No.: 732-524-2185 
 Either Party may change its address to which notices shall be sent by giving notice to the other Party in the manner herein provided. Any notice required
or provided for by the terms of this Agreement shall be in writing and shall be (a) sent by registered or certified mail, return receipt requested, postage prepaid, (b) sent via a reputable overnight courier service, or (c) sent by
facsimile transmission, in each case properly addressed in accordance with this Section 9.6. The effective date of notice shall be the actual date of receipt by the Party receiving the same. 
 Section 9.7 Force Majeure. No failure or omission by either Party in the performance of any obligation of this Agreement shall be
deemed a breach of this Agreement or create any liability if the same shall arise from any cause or causes beyond the reasonable control of such Party, including, but not limited to, the following: acts of gods; acts of any government; any rules,
regulations or orders issued by any governmental authority or by any officer, department, agency or instrumentality thereof; fire; storm; flood; earthquake; accident; war; rebellion; insurrection; riot; terrorism and invasion; provided that
the Party affected by such cause promptly notifies the other Party and uses diligent efforts to cure such failure or omission as soon as is practicable after the occurrence of one or more of the above mentioned causes. 
 Section 9.8 Compliance With Laws. Each Party shall perform its obligations under this Agreement in compliance with all applicable
Laws. 
 Section 9.9 Public Announcements. Neither Party shall release any information to any Third Party or make any
disclosure or public announcement (including but not limited to press releases, educational and scientific conferences, quarterly investor updates, promotional materials, governmental filings and discussions with public officials, the media,
security analysts and investors) regarding the term and existence of this Agreement, or the relationship between the Parties, without the other Party’s prior written consent; provided, however, that (a) a Party may make any
disclosure or public announcement if the contents of such disclosure or public announcement have previously been made public other than through a breach of this Agreement by the issuing Party; and (b), if in the reasonable opinion of such
Party’s counsel, a public 

  

 21 

 
disclosure shall be required by Law, including without limitation in a public filing with the United States Securities and Exchange Commission, the
disclosing Party shall provide copies of the disclosure reasonably in advance (but in no event less than fifteen (15) Business Days if reasonably practicable under the circumstances) of such filing or other disclosure for the nondisclosing
Party’s prior review and comment, which comments are to be considered by the disclosing Party in good faith; the nondisclosing Party shall provide its comments, if any, on such announcement as soon as reasonably practicable (provided,
however, that the disclosing Party need not delay its filing or disclosure, nor consider any comments, if the nondisclosing Party’s comments are not received prior to the time that the disclosing Party must make such filing or
disclosure in compliance with applicable Law); and (c) Infinity may issue, subject to the approval of JJPRD, a press release substantially in the form attached hereto as Exhibit C, the final form of which shall be subject to the
Parties’ mutual agreement. 
 Section 9.10 Use Of Names, Logos Or Symbols. Subject to Section 9.9, no Party hereto shall use
the name, trademarks, logos, physical likeness, employee names or owner symbol of any other Party for any purpose, including, without limitation, private or public securities placements, without the prior written consent of the affected Party.
Nothing contained in this Agreement shall be construed as granting either Party any rights or license to use any of the other Party’s trademarks or trade names or the names of any employees thereof, without separate, express written permission
of the owner of such trademark or trade name or name. 
 Section 9.11 Independent Contractors. It is understood and agreed that the
relationship between the Parties is that of independent contractors and that nothing in this Agreement shall be construed to create a joint venture or any relationship of employment, agency or partnership between the Parties to this Agreement.
Neither Party is authorized to make any representations, commitments, or statements of any kind on behalf of the other Party or to take any action that would bind the other Party except as explicitly provided in this Agreement. 
 Section 9.12 No Strict Construction. This Agreement has been prepared jointly and shall not be strictly construed against either Party.

 Section 9.13 Headings. The captions or headings of the sections or other subdivisions hereof are inserted only as a matter of
convenience or for reference and shall have no effect on the meaning of the provisions hereof. 
 Section 9.14 No Implied Waivers; Rights
Cumulative. No failure on the part of Infinity or JJPRD to exercise, and no delay by either Party in exercising, any right, power, remedy or privilege under this Agreement, or provided by statute or at law or in equity or otherwise, shall
impair, prejudice or constitute a waiver of any such right, power, remedy or privilege by such Party or be construed as a waiver of any breach of this Agreement or as an acquiescence therein by such Party, nor shall any single or partial exercise of
any such right, power, remedy or privilege by a Party preclude any other or further exercise thereof or the exercise of any other right, power, remedy or privilege. 
  

 22 

 Section 9.15 Severability. If, under applicable Laws, any provision of this Agreement is invalid
or unenforceable, or otherwise directly or indirectly affects the validity of any other material provision(s) of this Agreement (such invalid or unenforceable provision, a “Severed Clause”), this Agreement shall endure except for the
Severed Clause. The Parties shall consult one another and use good faith efforts to agree upon a valid and enforceable provision that is a reasonable substitute for the Severed Clause in view of the intent of this Agreement. 
 Section 9.16 Execution In Counterparts. This Agreement may be executed in counterparts, each of which counterparts, when so executed and
delivered, shall be deemed to be an original, and all of which counterparts, taken together, shall constitute one and the same instrument. 
 Section 9.17 No Third Party Beneficiaries. No person or entity other than JJPRD, its Affiliates and Infinity (and assignees) shall be deemed an intended beneficiary hereunder or have any right to enforce any obligation of this
Agreement. 
 Section 9.18 Performance By Affiliates. To the extent that this Agreement imposes obligations on Affiliates of a Party,
such Party agrees to cause its Affiliates to perform such obligations. Either Party may use one or more of its Affiliates to perform its obligations and duties hereunder, provided that the Parties shall remain liable hereunder for the prompt
payment and performance of all their respective obligations hereunder. 
 Section 9.19 No Consequential Damages. NEITHER PARTY HERETO
WILL BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR MULTIPLE DAMAGES ARISING OUT OF THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING WITHOUT LIMITATION LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF
THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH DAMAGES. 
 Section 9.20 Exhibits. In the event of inconsistencies between this
Agreement and any exhibits or attachments hereto, the terms of this Agreement shall control. 
 [Remainder of Page Intentionally Left
Blank] 
  

 23 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. 

 

			
	INFINITY PHARMACEUTICALS, INC.
		
	By:	  	 /s/ Adelene Q. Perkins

	Name:	  	Adelene Q. Perkins
	Title:	  	Chief Business Officer
	
	 JOHNSON & JOHNSON
 PHARMACEUTICAL RESEARCH AND
 DEVELOPMENT, A DIVISION OF JANSSEN
 PHARMACEUTICA N.V.

		
	By:	  	 /s/ Dr. Didier de Chaffoy de Courcelles

	Name:	  	Dr Didier de Chaffoy de Courcelles
	Title:	  	Senior Vice President

  

 24 

 EXHIBIT A 
 Library Compound Delivery Requirements 
 1. Library Compound Structural Information. Until
December 31, 2005, Infinity shall promptly deliver to JJPRD Library Compound Structural Information upon availability on all compounds included in the Library Compound Pool. The compounds included in the Library Compound Pool will come from at
least [**] Synthetic Pathways. 
 2. Selection of Library Compounds. JJPRD shall select compounds from the Library Compound Pool in
accordance with the following procedures. 
 a) JJPRD will select a minimum of [**] compounds from Synthetic Pathways [**], [**] and [**] of
the Library Compound Pool (“First Selection”). Infinity represents that there are a minimum of [**] compounds from these Synthetic Pathways having [**] of available stock. JJPRD will make the First Selection by January 15, 2005.
Infinity is also offering JJPRD the option, to be exercised at JJPRD’s sole discretion, to select from approximately [**] additional compounds from pathway [**] for which Infinity can deliver [**] from available stock. Infinity has provided
JJPRD the structural information for these compounds and JJPRD would need to include any selected compounds in its First Selection by January 15, 2005. 
 b) JJPRD will select a minimum of [**] compounds from Synthetic Pathways [**] and [**] of the Library Compound Pool (“Second Selection”). JJPRD will make the Second Selection by January 31, 2005.

 c) JJPRD will select additional compounds from [**] additional Synthetic Pathways of the Library Compound Pool (“Third
Selection”) so that the total of selected compounds from the First Selection, Second Selection and Third Selection is [**] compounds. JJPRD will make the Third Selection by March 31, 2005 but in any case no sooner than Library Compound
Structure Information is available for at least [**] days on at least [**] additional compounds included in the Library Compound Pool from the [**] additional Synthetic Pathways. 
 d) JJPRD will select additional compounds from any Synthetic Pathways of the Library Compound Pool not previously available for the First Selection,
Second Selection and Third Selection (“Fourth Selection”). The number of selected compounds will not exceed the lesser of [**] compounds for each additional Synthetic Pathway or the total number of compounds made from such any such
Synthetic Pathways. JJPRD will make the Fourth Selection by December 31, 2005. 
 3. Delivery of Library Compounds. Infinity will
deliver compounds of the First Selection, Second Selection, Third Selection and Fourth Selection as a dry powder in Corning Costar 2ml plates (Cat nr. 3690/3691), 96 deepwell, 80 compounds per plate, with the first two 8-length columns left empty,
packed in dry ice and otherwise in accordance with the following procedures: 
 a) The First Selection will be delivered by March 31,
2005 from available stock. Infinity will deliver [**] (estimated in accordance with established practice) of each selected compound 

  

 25 

 
where Infinity has reported in the Library Compound Structure Information that it has such amount available, unless JJPRD has elected to include any
compounds from the [**] pathway for which [**] is available in which case Infinity will deliver [**] of such selected compounds to JJPRD by March 31, 2005. 
 b) The Second Selection will be delivered by September 30, 2005 and the Third Selection by December 31, 2005. For the Second Selection and Third Selection, Infinity will deliver [**] (estimated in accordance
with established practice) of each selected compound. The purity (estimated in accordance with established practice) of the delivered compound will be the purity as reported in the Library Compound Structure Information. The target purity for each
Library Compound will be [**]% (“Target Purity”). 
 c) The Fourth Selection will be delivered by April 30, 2005. Infinity
will deliver [**] (estimated in accordance with established practice) of up to [**] selected compounds from each Synthetic Pathway as designated by JJPRD. Infinity will deliver [**] (estimated in accordance with established practice) of the
remaining selected compounds from each Synthetic Pathway. The purity of the delivered compounds will be the Target Purity. 
 d) Upon
delivery of each selection to JJPRD, Infinity will transfer data on sampled purity and quantity of delivered compounds and the analytic methods used for such measurements and controls. JJPRD can determine the purity and amount of delivered compounds
using the transferred analytic methods and may reject, within a period of [**] working days, the delivery of any plate of compounds for which at least [**]% of the compounds on the plate have been sampled and for which (i) the sampled compounds
have, on average, a purity which is [**]% less than the Target Purity (or the purity as reported in the Library Compound Structure Information in the event JJPRD selects a compound with less than the Target Purity) or (ii) the sampled compounds
have, on average, [**] % more or less than the required delivery amount. In the event a plate of Library Compounds is rejected by JJPRD, then JJPRD’s sole and [**] remedy will be to receive a replacement plate of the same compounds or, where
Infinity reasonably believes that such a replacement plate will also be rejected, a replacement plate modified in whole or part with new Library Compounds selected in cooperation with JJPRD from within the same synthetic scheme as the rejected
plate. 
  

 26 

 EXHIBIT B 
 Form of Press Release 
 INFINITY ANNOUNCES SMALL MOLECULE ALLIANCE WITH 
 JOHNSON & JOHNSON PHARMACEUTICAL RESEARCH & DEVELOPMENT 
 — Highlights Technology Platform Benefits of Industrialized Scale and Broad Therapeutic Utility — 
 CAMBRIDGE, MA,
January 6, 2005—Infinity Pharmaceuticals Inc. today announced that it has entered into a collaborative agreement enabling Johnson & Johnson Pharmaceutical Research & Development, a division of Janssen Pharmaceutica N.V.
(“J&JPRD”), to identify novel, small molecule therapeutic agents using Infinity’s novel compound collection. Infinity will provide J&JPRD with non-exclusive access to a proprietary collection of small molecules which
J&JPRD may screen broadly against multiple targets and perform chemistry to identify small molecule drug leads. The industrialized nature of the Infinity platform enables it to be scaled for widespread use within J&JPRD to capitalize on the
platform’s potential for broad therapeutic utility across numerous disease areas. 
 Under the terms of the agreement, J&JPRD pays an
upfront license fee. Additionally, Johnson & Johnson Development Corporation, an affiliate of J&JPRD, has made an equity investment in Infinity. Other financial details were not disclosed. 
 “Infinity’s proprietary chemical technology platform offers J&JPRD a unique opportunity to combine our distinct chemistry prowess with their established
research and development capabilities,” said Julian Adams, Chief Scientific Officer, Infinity. “This collaboration will ideally enable J&JPRD to identify breakthrough chemical compounds that will have great utility in the effort to
address diseases with significant unmet medical need.” 
 “We are very excited to be working with J&JPRD, a highly regarded leader in the field
of pharmaceuticals and healthcare,” said Adelene Perkins, Chief Business Officer, Infinity. “This alliance, our third within one year, highlights Infinity’s ability to successfully execute against our business model – a model
that uniquely enables us to achieve the dual benefit of continuing to build our internal drug discovery efforts while also generating revenue. Complementing our internal drug discovery efforts, our plans for 2005 call for us to add one additional
partner to whom we will grant access to the Infinity chemical technology platform and our proprietary compound collection.” 
 About Infinity’s
Chemical Technology Platform 
 Infinity’s integrated team of synthetic, process, natural product, and combinatorial chemists have developed an
industrialized technology platform to create a proprietary compound collection through the application of diversity-oriented synthesis (DOS). 
 DOS
chemistry is a combinatorial synthetic approach (with all the virtues of combinatorial chemistry in terms of throughput) that is distinctive in terms of its output. While compounds produced through combinatorial approaches are usually relatively
simple, “flat” molecules with no stereochemistry, DOS molecules are more complex, are three-dimensional, and feature multiple (completely controllable) stereocenters. These features have led many industry leaders to describe
Infinity’s DOS molecules as natural product-like as they have the hallmarks of biologically active molecules previously only available from natural product sources. Infinity’s DOS compound collection has preserved the virtues of natural

  

 27 

 
products without the perceived drawbacks allowing the Company to generate a unique library of pharmaceutically relevant compounds that not only cover a
diverse area of current drug space, but can also be rapidly developed into drug candidates. 
 About Infinity Pharmaceuticals, Inc. 
 Infinity is a fully integrated, cancer drug discovery company focused on pathways of cancer cell survival. In addition, through select partnerships, Infinity’s
distinctive, proprietary collection of small molecules is being used against many of the world’s most important diseases. 
 # # #

  

 28

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]