Document:

EX-10.14

 Exhibit 10.14 

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS
BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS [***]. 

NON-EXCLUSIVE LICENSE AGREEMENT 

THIS NON-EXCLUSIVE LICENSE AGREEMENT (the “Agreement”), effective as of
October 31, 2013 (the “Effective Date”), is entered into by and between BioWa, Inc., with a principal place of business at 9420 Athena Circle, La Jolla, California 92037 USA (“BioWa”), Lonza Sales AG a Swiss
corporation, with a principal place of business at Munchensteinerstrasse 38, Basel, CH-4002 Switzerland (“Lonza”) (together “the Licensor”) and Allakos, Inc. with its principal place
of business located at 75 Shoreway Road, Suite A San Carlos CA 94070 (“Licensee”). Lonza, BioWa, Licensor or Licensee may hereafter be referred to as a “Party” and collectively as the “Parties.” 

BACKGROUND 

WHEREAS, Lonza and BioWa have combined Lonza’s GS System and BioWa’s
Potelligent® Technology and their related intellectual property to jointly create Potelligent® CHOK1SV for use in combination with the
Vectors (all as herein defined) (the “Technology”); and 
 WHEREAS, Licensee is engaged in the business of researching,
developing, manufacturing and/or commercializing recombinant protein products containing monoclonal antibodies for use as pharmaceutical products; and 

WHEREAS, Licensee wishes to acquire certain nonexclusive rights to the Technology to research and develop monoclonal antibodies capable
of specifically binding to targets which shall be identified and mutually agreed upon as specified in this Agreement; and 
 WHEREAS,
Licensor is willing to grant such license to the Technology and the Licensee desires to take such license, subject to the terms and conditions in this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties, intending to be legally bound,
agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 Words or
phrases having their initial letter capitalized shall, except as clearly provided otherwise in this Agreement or in the context in which they are used, have the respective meanings set forth below. A cross-reference below to a defined term in this
Agreement is for the convenience of the reader of this document, and this Article 1 may not contain an exhaustive list of all words or phrases defined elsewhere in this Agreement. 

1.1 “Activities” means the Research, development, manufacturing and commercialization of a Product performed by
Licensee or any permitted Sublicensee under this Agreement. 

  
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 1.2 “ADCC” means Antibody Dependent Cellular Cytotoxicity. 

1.3 “Affiliate” means any corporation, company, partnership, joint venture, firm or other business entity which
controls, is controlled by, or is under common control with a Party. For purposes of this definition, “control” shall be presumed to exist if one of the following conditions is met: (a) in the case of corporate entities, direct or
indirect ownership of at least 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 at least 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, 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 foreign investor has the power to direct the management and policies of such entities. 
 1.4
“Antibody” means a monoclonal antibody, antibody fragment or any composition of matter derived therefrom, made through use of the Technology. For purposes of this Agreement, “derived” shall mean obtained, developed, created,
synthesized, designed, derived or resulting from, based upon or otherwise generated (whether directly or indirectly, or in whole or in part). For purpose of clarity, the foregoing shall include any monoclonal antibody, any CDR (complementarity
determining region), variable or constant region, any single chain antibody, any partially or fully humanized antibody, any peptides identified through antibody phage display, and any peptide derived from one or more antibodies based on the sequence
and structure information of the antibodies, e.g. binding site information of the antibodies. 
 1.5 “Approval”
means, with respect to a Product in a particular jurisdiction, the technical, medical and scientific licenses, registrations, authorizations and approvals (including, without limitation, approval of a BLA, and pricing and Third Party
reimbursement approvals, and labeling approvals with respect thereto) of any national, supra-national, regional, state or local regulatory agency, necessary for the commercial manufacture, distribution, marketing, promotion, offer for sale, use,
import, export and sale of a Product. 
 1.6 “Approved Territory” means [***]. 

1.7 “Bankruptcy Code” means Title 11 of the United States Code. 

1.8 “Base Powder” means the powder set out in Exhibit 3. 

1.9 “Biologics License Application” or “BLA” means a Biologics License Application and amendments thereto
filed pursuant to the requirements of the FDA, as defined in 21 C.F.R. Section 600 et seq., for FDA approval of a Product and “sBLA” means a supplemental BLA, and any equivalent or a New Drug Application, as defined in the U.S.
Federal Food, Drug and Cosmetic Act, as amended, and the regulations promulgated thereunder, and any corresponding non-U.S. marketing authorization application, registration or certification, necessary
to market a Product in any country outside the U.S., but not including applications for pricing and reimbursement approvals. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 1.10 “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York, New York, United States are required or authorized by law to be closed. 
 1.11 “Calendar Quarter”
means each three-month period commencing on January 1, April 1, July 1 or October 1 of each year during the Term. 
 1.12
“CHOK1SV Cell Line” means Lonza’s suspension variant host Chinese Hamster Ovary (CHO) cell line. 
 1.13 “Claims”
has the meaning set forth in Section 11.1. 
 1.14 “Commencement” means the first dosing of the first patient in the
applicable clinical trial. 
 1.15 “Commercial License” has the meaning set forth in Section 2.1. 

1.16 “Commercial License Fee” has the meaning set forth in Section 6.3. 

1.17 “Commercial Target” means the single Target which Licensee has designated and reserved in accordance with Section 4.1 of
this Agreement and for which Licensee is granted a license hereunder. 
 1.18 “Competing Contract Manufacturer” means any party
who, together with its affiliates, generated more than [***] from the performance of contract manufacturing services as a third party manufacturer of monoclonal antibodies and/or therapeutic proteins. 

1.19 “Confidential Information” means all confidential or other proprietary information of a Party, whether written, oral or
otherwise, and including, but not limited to, Know-How or other information, whether or not patentable, regarding a Party’s technology, products, business information or objectives that is designated as
confidential, or which under the circumstances surrounding disclosure or given the nature of the information would reasonably be believed to be confidential. 

1.20 “Control” or “Controlled” means, with respect to a Know-How or Patent right,
that a Party has the ability to grant a license or a sublicense to such intellectual property without violating the terms of any agreement with a Third Party. 

1.21 “Effective Date” has the meaning set forth in the preamble to this Agreement. 

1.22 “Enforcement Action” has the meaning set forth in Section 8.3. 

1.23 “FDA” means the U.S. Food and Drug Administration and any successors thereto and its foreign counterparts throughout the world.

 1.24 “Field” means the prevention, diagnosis and treatment of human diseases. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 1.25 “First Commercial Sale” means, with respect to any Product in any country, the
first bona fide commercial sale by Licensee or its Sublicensee (or Strategic Partner, if applicable) of such Product following an Approval in such country. 

1.26 “GS System” means Lonza’s glutamine synthetase gene expression system consisting of the CHOK1SV Cell Line, the Transfection
Medium & Supplements System, the Vectors, and the related Know-How and Patents, whether used individually, or in combination with each other. For the avoidance of doubt, any gene proprietary to
Licensee inserted into the GS System for the purpose of producing Product does not form part of the GS System. 
 “IND” means an
Investigational New Drug application, as defined in the U.S. Federal Food, Drug and Cosmetic Act, as amended, and the regulations promulgated thereunder, or any corresponding non-U.S. application, registration
or certification necessary to transport or distribute investigational new drugs for clinical testing in any country outside the U.S. 
 1.27
“Indemnitee” and “Indemnitor” have the respective meanings set forth in Section 11.2. 
 1.28 “IP” means
intellectual property. 
 1.29 “Know-How” means any proprietary technical or other
information whether patentable or not and whether in written or verbal form, including technology, experience, formulae, concepts, discoveries, trade secrets, inventions, modifications, improvements, data (including all chemical, preclinical,
pharmacological, clinical, pharmacokinetic, toxicological, analytical and quality control data), results, designs, ideas, analyses, methods, techniques, assays, research plans, procedures, tests, processes (including manufacturing processes,
specifications and techniques), laboratory records, reports and summaries. 
 1.30 “Licensor IP Rights” means the Licensor Know-How and the Licensor Patent Rights. 
 1.31 “Licensor
Know-How” means Know-How owned or Controlled by Licensor that relates directly to the Technology which may be provided to Licensee hereunder. Licensor Know-How includes Potelligent® CHOK1SV, Vectors, and any composition or formulation incorporating
Potelligent® CHOK1SV and/or Vectors. 
 1.32 “Licensor Patent Rights”
means the Patents set out in Exhibit 1 hereto, solely to the extent that such Patents relate to the Technology and are necessary or reasonably useful for researching, developing, commercializing, making, having made, using, having sold, offering for
sale, selling or otherwise disposing of a Product pursuant to this Agreement. 
 1.33 “Losses” has the meaning set forth in
Section 11.1. 
 1.34 “Major Market” means [***]. 

1.35 “Management Representatives” has the meaning set forth in Section 12.1. 

1.36 “Milestone Payments” means the payments set forth in Section 6.4. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 1.37 “Net Sales” means the gross amount invoiced by Licensee or its Sublicensees (or
Strategic Partner, if applicable) for sales of a Product to Third Parties in the Territory (“Gross Sales”), less the following (to the extent applicable): [***] and [***] on the Product [***] and [***] by the customer with respect to the
sales of the Product [***] and which are already included in the determination of Gross Sales) including without limitation [***] and [***] and [***] or [***] or [***] for [***] or [***] of [***] Product, and for [***] on a [***] Product, [***] or
[***] on or measured by the [***] for the Product [***] to the extent included in the [***] and not [***] for [***] and [***] related to [***] of a Product, to the extent included in Gross Sales. 

If a sale, transfer or other disposition with respect to the Product involves consideration other than cash or is not at arm’s length,
then the Net Sales from such sale, transfer or other disposition shall be [***] which shall mean the [***] for the [***] in the country where such sale, transfer or other disposition took place. 

In the event a Product is sold in any country in the form of a combination product containing one or more other therapeutically active
ingredients that are not attached or linked to the Product, Gross Sales shall be determined by multiplying the actual Gross Sales of such combination product by the fraction A/(A + B), where A is the invoice price of the Product, if sold separately,
and B is the invoice price of any other active component or components in the combination, if sold separately, in each case in the same country and in the same dosage as the combination product. If, on a country-by-country basis, the other active component or components in the combination are not sold separately in such country, Gross Sales shall be calculated by multiplying the actual Gross Sales of such
combination product by the fraction A/C where A is the invoice price of the Product if sold separately, and C is the invoice price of the combination product, in each case in the same country and in the same dosage as in the combination product. If,
on a country-by-country basis, the Product component of the combination product is not sold separately in such country, but the other active component or components are
sold separately, Gross Sales shall be calculated by multiplying actual Gross Sales of such combination product by the fraction (C-B)/C where B is the invoice price of the other active component or components,
if sold separately, and C is the invoice price of the combination product, in each case in the same country and in the same dosage as the combination product. If, on a
country-by-country basis, neither the Product nor the other active component or components of the combination product are sold separately in such country, Gross Sales
for such combination product shall be determined [***]. 
 1.38 “Patents” means all patents and patent applications existing as of
the Effective Date and all patent applications thereafter 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 supplemental patent 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. 
 1.39 [***] means those [***] listed in Exhibit 4
to this Agreement, and [***]. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 1.40 “Phase I Clinical Trial” means a human clinical trial in any country that is
intended to collect data on safety of a Product for a particular indication or indications in patients with the disease or indication under study or that would otherwise satisfy the requirements of 21 Code of Federal Regulations (“CFR”)
§312.21(a) (U.S.) or its non-U.S. equivalent. 
 1.41 “Phase II Clinical Trial” means
a human clinical trial in any country that is intended to collect data on dosage and evaluate the safety and the effectiveness of a Product for a particular indication or indications in patients with the disease or indication under study or that
would otherwise satisfy the requirements of 21 Code of Federal Regulations (“CFR”) §312.21(b) (U.S.) or its non-U.S. equivalent. 

1.42 “Phase III Clinical Trial” means a human clinical trial in any country that is intended to be a pivotal trial the result of
which would be used to establish safety and efficacy of a Product as a basis for a BLA or that would otherwise satisfy the requirements of 21 CFR 312.21(c) or its non-U.S. equivalent. 

1.43 “Potelligent® CHOK1SV” means the FUT8 (-/-) knock-out CHOK1SV Cell Line jointly created by Lonza’s Affiliate, Lonza Biologics plc, and BioWa’s Affiliate, Kyowa Hakko Kirin Co., Ltd., by combining the CHOK1SV Cell Line and the Potelligent® Technology. 
 1.44
“Potelligent® Technology” means BioWa’s proprietary technology directly relating to the use of Potelligent® Cells to
produce Antibodies with enhanced ADCC activity by reducing the amount of fucose linked to the carbohydrate chains, including (i) Potelligent® Cells; (ii) cell transfection methods,
including methods for selection of transfected cells; (iii) protein expression, production or purification methods; (iv) therapeutic compositions, formulations or uses of, and other modifications to, Antibodies with enhanced ADCC activity
produced by transfected cells; and (v) any modifications to host cells producing glycoproteins with a reduced amount of fucose linked to such glycoproteins. For the purposes of clarity general technology that relates solely to the growth of
cells or applies generally to antibodies that have not been fucose-reduced, even if it also applies to Potelligent® Cells, is not included. For the purposes of further clarity, a combined
technology comprising Potelligent® Technology offered in combination with technology owned or Controlled by one or more Third Parties is also not Potelligent® Technology. 
 1.45 “Product” means any composition or formulation in the
Field containing or comprising an Antibody owned or controlled by Licensee, which alone or in combination with other active or inactive ingredients, components or materials is designed to bind to or modulate the Commercial Target and whose
development, manufacture, use or sale would but for a license under the Licensor IP Rights infringe the Licensor IP Rights. 
 1.46
“Progress Report” has the meaning set forth in Article 5. 
 1.47 “Prosecution and Maintenance” has the meaning set forth
in Section 8.2. 
 1.48 “Regulatory Authority” means any federal, national, multinational, state, provincial or local
regulatory agency, department, bureau or other governmental entity with authority over the research, development, manufacture, commercialization or use (including the granting of a BLA) of any Product in any jurisdiction, including the FDA, the
European Commission or the European Agency for the Evaluation of Medicinal Products, and the Ministry of Health, Labor and Welfare in Japan. 

  
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 1.49 “Research” means research and non-clinical
development activities performed up to the date of the Commencement of Phase I Clinical Trial for any Product, but does not include human clinical studies or other commercialization activities, such as the manufacture, use, marketing and sale of any
Product or any product containing or derived from a Product. 
 1.50 “Royalty” and “Royalties” has the meaning set forth
in Section 6.5. 
 1.51 “Strategic Partner” means a party with whom Licensee has entered into a contractual relationship
(i) to collaborate in the performance of research, development and/or commercialization of a Product (ii) under which such Third Party has a material interest in the commercial success of the Product, and (iii) is not only intended to
provide for the provision of manufacturing services by such Third Party to Licensee. In no event may any entity that is [***] a Competing Contract Manufacturer be deemed a Strategic Partner for the purposes of this Agreement. 

1.52 “Sublicensee” means any Third Party or an Affiliate of Licensee, to whom Licensee has granted any of its rights under Article 2.

 1.53 “Target” means a polypeptide, carbohydrate chain or other molecule to which an Antibody binds and/or which an Antibody
modulates. 
 1.54 “Technology” means Antibody expression and ADCC enhancing technology using Potelligent® CHOK1SV in combination with the Transfection Medium & Supplements System, the Vectors and related Know-How and Patents, including but not limited
to (i) Potelligent® CHOK1SV; (ii) cell transfection methods, including methods for selection of transfected cells;
(iii) protein expression, production or purification methods; (iv) therapeutic compositions, formulations or uses of, and other modifications to, Antibodies with enhanced ADCC activity produced by transfected cells; and (v) any
modifications to host cells producing glycoproteins with a reduced amount of fucose linked to such glycoproteins. 
 1.55 “Technology
Improvements” means any inventions or other intellectual property (including all Patent, Know-How and other intellectual property rights therein) that relates specifically to the Technology made by, or
under authority of, the Licensee or any authorized Sublicensee during the Term in conducting the Activities contemplated by this Agreement. For the avoidance of doubt, any invention or other intellectual property (including Patent, Know-How and other intellectual property rights therein) relating to any Antibody or any Product shall not constitute a Technology Improvement under this Agreement to the extent that it is severable from and does
not comprise of (in whole or part) or disclose or reveal any Licensor IP Rights. 
 1.56 “Term” has the meaning set forth in
Section 7.1. 
 1.57 “Territory” means all countries and territories in the world. 

1.58 “Third Party” means any entity other than Licensee, BioWa, or Lonza. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 1.59 “Transfected Cells” means
Potelligent® CHOK1SV Cells transfected by Licensee with recombinant DNA encoding a monoclonal antibody. 

1.60 “Transfection Medium” means the solutions of nutrients used in mammalian cell culture, as more fully set out in Exhibit 3. 

1.61 “Transfection Supplements” means the supplement solutions used in the Transfection Medium, as more fully set out in Exhibit 3.

 1.62 “Transfection Medium Know-How” means any
Know-How specifically relating to the Transfection Medium, as set out in Exhibit 3. 
 1.63
“Transfection Medium & Supplements System” means the Base Powder, the Supplements, the Transfection Medium, and Transfection Medium Know-How used either in combination or individually. 

1.64 “U.S.” means the United States of America, including all commonwealths, territories, and possessions of the United States. 

1.65 “Valid Claim” means an issued and unexpired claim of a Licensor Patent Right that has not been canceled, withdrawn, or rejected
and has not lapsed or become abandoned or been declared invalid or unenforceable or been revoked by a court or agency of competent jurisdiction from which no appeal can be or has been taken. 

1.66 “Vectors” means Lonza’s vectors identified in Section 6.1 below. 

1.67 “Withholding Taxes” means the amount of taxes required to be paid or withheld pursuant to any applicable law, including U.S.
federal, state or local tax law. 
 ARTICLE 2 

LICENSE GRANTS AND COVENANTS 

2.1 Grant of Commercial License. Subject to the terms and conditions of this Agreement and upon payment of the Commercial
License Fee, Licensor hereby grants to Licensee a fee- and royalty-bearing, non-exclusive license in and to the Licensor IP Rights, with the limited right to sublicense
in accordance with Section 2.2, to Research, develop, commercialize, make, use, import, have imported, sell, have sold, offer for sale and otherwise dispose of Product in the Field in the Territory (the “Commercial License”). 

2.2 Sublicense. Licensee shall have the right to grant sublicenses to Third Parties under the terms of this
Section 2.2, provided that no sublicense shall provide for the right to grant further sublicenses without Licensor’s prior written consent, such consent not to be unreasonably withheld or delayed.  

2.2.1 Licensee may grant sublicenses to and transfer Transfected Cells to [***] solely for the purpose of conducting Activities as provided in
this Agreement, provided that Licensee provides written notice of any such sublicense and transfer [***] such sublicense and transfer provided however that to the extent that such proposed sublicense is regarded as the [***] of the [***] of the
[***] need only be [***] to the [***] in advance of 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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the sublicense and transfer if the [***] agrees to be subject to [***] of [***] in respect of the [***] The [***] in which Transfected Cells are to be transferred must be [***] in an Approved
Territory. In any agreement to sublicense or transfer Transfected Cells, Licensee shall prohibit the [***] from using the [***] except in [***] with the [***] or [***] and in no case would be allowed to [***] a [***] of such [***] or [***] using the
[***]. 
 2.2.2 Licensee shall have the right during [***] to [***] and [***] with the [***] of [***] with [***] to and the [***] of [***]
such [***] ; provided that prior to entering into any agreement with such [***] or otherwise included among [***] Licensee obtains such [***] of [***] and, provided further, that such [***] to which [***] will be [***] are [***] in an Approved
Territory. 
 2.2.3 If Licensee desires to transfer Potelligent CHOK1SV or the Vectors to any Third Party (including [***]) or Licensee
desires to grant a sublicense to a Third Party other than [***], Licensee shall provide notice to Licensor and secure Licensor’s prior written consent, which shall not be unreasonably withheld or delayed, but which may be subject to reasonable
conditions. Notwithstanding the foregoing, the Parties acknowledge that prior written notice has already been given by Licensee and approval provided by Licensor as to the intended sublicense to be granted by Licensee to Lonza to undertake Research,
development and manufacturing services on Licensee’s behalf in respect of Product. 
 2.2.4 Any sublicense permitted under Sections
2.2.1, 2.2.2 and 2.2.3 above shall be granted expressly subject [***] to the terms of this Agreement and Licensee shall comply with the requirements of Section 2.1 above and this Section 2.2 in relation to the grant of such sublicense. In
each sublicense agreement, Licensee shall require the Sublicensee to comply with the applicable terms and conditions of this Agreement and shall include a provision that [***] or [***] such of [***] and [***] in [***] as are necessary in order for
[***] to comply with the requirements of [***] hereof. 
 2.2.5 In the event that Licensee fails to make payments pursuant to this Agreement,
all payments due to Licensee from its Sublicensees under the sublicense agreements shall, upon notice from Licensor to Sublicensees, become payable directly to Licensor for the account of Licensee, but solely to the extent of payments due to
Licensor under this Agreement. 
 2.3 Performance by Sublicensees. Licensee’s execution of a sublicense agreement shall not
relieve Licensee of any of its obligations under this Agreement. Licensee shall remain jointly and severally liable to Licensor for any performance or non-performance of a Sublicensee that would be a breach of
this Agreement if performed or omitted by Licensee, and Licensee shall be deemed to be in breach of this Agreement as a result of such Sublicensee performance or non-performance. 

2.4 Licensor’s Rights. Except for the rights granted to Licensee under this Agreement, all right, title and interest
in and to the Technology shall at all times remain with and be vested in Licensor. Neither Licensee nor its Sublicensees shall use the Technology for any purpose other than as expressly granted to Licensee under this Agreement. 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 2.5 Third Party Rights and Licenses. Licensee shall be responsible for obtaining all
rights from Third Parties or Licensor’s Affiliates that are necessary to research, develop and commercialize Product in the Field. 

2.6 Permitted Uses of the Technology; Prohibition on Modifications or Adaptations. Licensee’s use of the Technology is limited to
inserting gene(s) coding for Licensee’s proprietary antibodies into the Vectors and then into Potelligent® CHOK1SV for the purpose of generating Antibodies. Licensee hereby undertakes not
to make any modifications or adaptations to the Technology during the subsistence of this Agreement except as explicitly provided under this Section 2.6 hereto. Licensee is specifically prohibited from performing any analysis, test, experiment
or reverse-engineering of the Technology, provided that Licensee may test Potelligent® CHOK1SV and Transfected Cells as necessary for Allakos’ quality assurance, quality control or
compliance with Applicable Laws. 
 ARTICLE 3 – USE OF TECHNOLOGY 

3.1 Sole Uses of Technology. Licensee shall not use, nor shall it permit any authorized Sublicensee to use, the Vectors,
Potelligent® CHOK1SV or Licensor IP Rights for any purpose other than that permitted in Section 2.1. Upon transfection, Licensee shall have the right to use the Transfected Cells solely
to Research, develop, commercialize, make, have made, use, import, have imported, export, have exported, sell, have sold, offer for sale, and otherwise dispose of Product pursuant to the terms and subject to the conditions of this Agreement. Except
as permitted in accordance with Section 2.2, Licensee shall not offer for sale, sell, transfer or otherwise distribute Potelligent® CHOK1SV, Transfected Cells, or Licensor IP Rights to
any Third Party. Licensee shall store, handle, transport, use and dispose of Potelligent® CHOK1SV and Transfected Cells in accordance with all applicable country, state and local laws and
regulations. 
 3.2 Rights in Transfected Cells. Subject to the Licensor IP Rights and rights in Technology Improvements set forth in
this Agreement, Licensor shall have no rights to the Transfected Cells and Licensee shall be the exclusive owner of the Transfected Cells, Antibodies and Product, provided that Licensee’s use of the Transfected Cells is subject to the licenses
granted under this Agreement. 
 ARTICLE 4 – TARGET DESIGNATION 

4.1 Target Designation. [***] 

4.2 Notification of Commencement of Phase I Clinical Trials. Within thirty (30) days of Commencement of the first
Phase I Clinical Trial for each Product, Licensee shall provide Licensor written notice of such Commencement and such notice shall (i) specifically identify the Commercial Target for such Product and (ii) specifically identify the Product
being developed. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 ARTICLE 5 

PROGRESS REPORTS 
 During
the Term Licensee shall deliver to Licensor annual, written, reasonably detailed progress reports, following the format set forth in Exhibit 2, of Activities conducted in the preceding calendar year, including Licensee’s progress towards the
achievement of milestone events set forth in Section 6.3 (the “Progress Report”). The first Progress Report shall be due on the first anniversary of the Effective Date, and subsequent Progress Reports on each anniversary of the
Effective Date thereafter. 
 ARTICLE 6 – FINANCIAL TERMS 

6.1 Reservation of Research License Fee. It is acknowledged between Lonza and Licensee that it is the intention of such
parties that upon or shortly after the Effective Date Lonza and Licensee shall enter into a Development and Manufacturing Services Agreement whereby Licensee shall engage Lonza to undertake various Research, development and manufacturing services in
relation to Product using the Technology. On the basis of such understanding it is agreed that Lonza shall not be providing Potelligent® CHOK1SV, Vectors and Licensor Know-How to Licensee but shall instead be utilizing such materials and Know-How itself on Licensee’s behalf to undertake the contracted services. If for whatever reason
Licensee wishes to undertake Research activities itself or through an Affiliate or [***] Licensee shall be entitled to call for the following materials and details to be provided to it [***] subject to the Licensee paying to Lonza [***] research
license fee of [***] due and payable [***] and expiring upon [***]. 
 (a) Vectors 

[***] 
 (b) Potelligent® CHOK1SV  
 [***] 

(c) Licensor Know-How 

[***] 
 (d) Transfection
Medium & Supplements System 
 Licensor shall (a) provide Licensee with [***] will be able to [***] and [***] to enable
[***] and (b) [***] with the [***] For the avoidance of doubt, [***] hereby confirms that [***] may [***] to such [***] the fact that [***] is [***]. 

6.2 BioWa Target Reservation Fee In partial consideration of the license granted under this Agreement, Licensee shall pay to
BioWa an upfront and annual non-refundable, non-creditable Target reservation fee (“Target Reservation Fee”) in the amount of [***], within [***] days
of the Effective Date and [***]. 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 6.3 BioWa Commercial License Fee. In partial consideration of the Commercial
License granted under this Agreement, Licensee shall pay to BioWa an annual, nonrefundable, non-creditable commercial license fee of Forty Thousand U.S. Dollars (US $40,000) (the “Commercial License
Fee”). The initial payment of the Commercial License Fee shall be due and payable within [***] and shall end on the anniversary of the Effective Date immediately preceding BioWa’s receipt of the first royalty payment pursuant to
Section 6.5.1 below. 
 6.4 Milestone Payments. 

6.4.1 BioWa Milestone Payments. In partial consideration of the Commercial License granted under this Agreement, Licensee shall make the
following non-refundable and non-creditable milestone payments to BioWa, [***] achievement of the following milestone events by Licensee or a Sublicensee (or Strategic
Partner, if applicable) [***] 
 6.5 Royalty Payments. 

6.5.1 BioWa Royalty Payments. As further partial consideration of the Commercial License granted under this Agreement, during the BioWa
Royalty Term (as defined below), Licensee shall pay to BioWa running royalties (“BioWa Royalties”) on Product equal to [***] of Net Sales for all Product sold by Licensee or Sublicensees (or Strategic Partner, if applicable) to
[***] in the Territory, on a country-by-country basis.
 BioWa Royalties
shall be payable on a country-by-country basis until the later of: (i) (x) ten (10) years from the date of First Commercial Sale of the Product for the Commercial
Target in such country or (y) the expiration of one or more regulatory exclusivity periods that would apply to such product in such country, whichever of (x) and (y) is later; and (ii) the expiration of the last to expire Valid Claim
within the Licensor Patent Rights in such county (“BioWa Royalty Term”). Thereafter, subject to Sections 6.5.2 and 6.5.3 below the license under this Agreement for the Commercial Target shall become fully paid up. 

6.5.2 Lonza Royalty Payments. As further partial consideration of the Commercial License granted under this Agreement during the Lonza
Royalty Term (as defined below), Licensee shall pay to Lonza royalties (“Lonza Royalties”) on a country-by-country basis and Product-by-Product basis at the following rates: 
 (i) In respect of Product
manufactured by Lonza, a royalty of [***]. 
 (ii) Where Licensee or Licensee’s Strategic Partner manufactures Product: [***]. 

(iii) Where any party other than Lonza, Licensee, or Licensee’s Strategic Partner manufactures Product: [***]. 

Lonza Royalties will be payable by Licensee until the later of (i) ten (10) years from the date of First Commercial Sale of the first
Product for the Commercial Target, or (ii) the expiration of the last-to-expire patent within the Licensor IP Rights (“Lonza Royalty Term”).
Thereafter, subject to Section 6.5.1 above and 6.5.3 below, the license under this Agreement for the Product shall become fully paid up. 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 12 

 6.5.3 Product sold in Countries not Protected by a Valid Claim. In the event Product is
sold in a country in which there is no Valid Claim among the Licensor IP Rights covering such Product, or in which previously existing Valid Claims covering such Product have expired or otherwise become invalid, royalties shall be due only in
respect of the Licensor Know-How and the relevant royalty figures referred to in Section 6.5.1 above shall be [***] for the duration of the BioWa Royalty Term and the relevant royalty figures referred to
in Section 6.5.2 above shall be [***] for the duration of the Lonza Royalty Term. Thereafter, the license under this Agreement for the Commercial Target and respective Product shall become fully paid-up.

 6.5.4 [***] If Licensee [***] is [***] in order to [***] or [***]such [***], then Licensee may [***] to such [***] from the [***] pursuant
to [***] for the [***]; provided that, in no event shall [***] to [***] in any [***] be [***] to [***] of the [***]. For clarity, Licensee shall not be entitled to [***] should [***] fail to [***] with respect to the [***] and, therefore, [***].

 6.6 Notification Obligations and Payment Dates for Milestone Payments and Royalties. Licensee shall inform Licensor in
writing within [***] of achieving each milestone by Licensee or its Sublicensee under this Agreement. Licensee shall make the relevant Milestone Payment within [***] achieving such milestone. All Royalty payments under Section 6.5 shall be due
and payable [***] and within [***] during which [***] Together with any such payment, Licensee shall deliver a report specifying in the aggregate and, on a
country-by-country basis [***] (iii) Net Sales; and (iv) Royalties payable. For purposes of computing Royalty payments for Net Sales payable to BioWa made outside
of [***] such Royalties shall be [***] on the [***] For purposes of computing Royalty payments for Net Sales payable to Lonza made outside of [***] such Royalties shall be [***] and the [***] shall be the [***] in the [***] on the [***]. 

6.7 Late Payment. Any payments or portions thereof due to Licensor hereunder which are not paid when due shall bear
interest equal [***] plus an additional [***], calculated on the number of days such payment is delinquent. This Section 6.7 shall in no way limit any other remedies available to Licensor for late payments. Failure to make any payments pursuant
to the terms of this Agreement hereunder shall constitute a breach of this Agreement. 
 6.8 Mode of Payment. 

6.8.1 Mode of Payment to BioWa. All payments to BioWa hereunder shall be made in [***] in the stated amount by wire transfer to such
bank account as BioWa may from time to time designate by notice in writing to Licensee. Until otherwise designated by notice, the fees payable under this Article 6 to BioWa shall be paid to [***] Payments shall be [***] to the extent applicable.

 6.8.2 Mode of Payment to Lonza. All payments to Lonza hereunder shall be made in [***] in the stated amount by wire transfer
to such bank account as Lonza may from time to time designate by notice in writing to Licensee. Until otherwise designated by notice, the fees payable to Lonza under this Article 6 to Lonza shall be paid to: [***] 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
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 6.9 Records Retention and Audit. With respect to the Product, Licensee shall keep, and
shall cause its Sublicensees (or Strategic Partner, if applicable) , and their respective agents, to keep for as long as legally required and in no event less than [***], complete, true and accurate books of accounts and records of all quantities of
Product manufactured and sold (or otherwise distributed) in sufficient detail to confirm the accuracy of the Net Sales and Royalty calculations hereunder. Upon reasonable prior written notice from Licensor, during the Term and for [***] thereafter,
Licensee shall permit an independent certified public accountant, appointed and paid by Licensor, and reasonably acceptable to Licensee, at reasonable times during normal business hours and under a written confidentiality agreement between the
accountant and Licensee executed prior to the inspection, to examine these records solely to the extent reasonably necessary to verify such calculations for any Calendar Year ending not more than [***] prior to the date of such request. Such
investigation shall be at the expense of [***] If such investigation shows underpayment of Royalties, Licensee shall promptly (but in no event later than [***] after [***] of the independent auditor’s report so correctly concluding) remit to
Licensor the amount of such underpayment, and all such [***] shall be subject to [***] pursuant to [***] Licensee shall ensure that all Sublicensees comply with Licensee’s obligations under this provision. 

6.10 Tax Withholding. All payments required under this Agreement shall be without deduction or withholding for, or on account of,
any taxes or similar governmental charge imposed by any jurisdiction. Any withholding taxes shall be the sole responsibility of the paying Party. The Party receiving payment agrees to elect to claim a tax credit for any such withholding taxes paid
by the paying Party for which the receiving Party is entitled to so elect, and at the time the receiving Party actually realizes a reduction in its regular income tax liability by utilizing any such withholding taxes as a credit against its regular
income tax liability (determined on a “first in first out” basis pro rata with other available foreign tax credits), then the amount of such credit shall be promptly reimbursed to the paying Party, to the extent such withholding taxes were
paid by the paying Party. 
 6.11 Blocked Payments. In the event that, by reason of applicable laws or regulations in any
country, it becomes impossible or illegal for Licensee or its Sublicensees to transfer, or have transferred on its or their behalf, Royalties or other payments to Licensor, such Royalties or other payments shall be deposited in local currency in the
relevant country to the credit of Licensor in a recognized banking institution designated by Licensor or, if none is designated by Licensor within a period of thirty (30) days, in a recognized banking institution selected by Licensee or its
Sublicensees, as the case may be, and identified in a written notice to Licensor. 
 ARTICLE 7 – TERM AND TERMINATION 

7.1 Term and Expiration. This Agreement shall become effective on the Effective Date and unless earlier terminated
pursuant to this Article 7, shall remain in full force and effect until there are no remaining Royalty payment obligations with respect to any Product in any country (the “Term”). 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 14 

 7.2 Termination at Will by Licensee. Licensee shall have the right to terminate
this Agreement in its entirety for any reason upon ninety (90) days prior written notice to Licensor. Upon termination in accordance with this Section 7.2, the licenses granted by Licensor pursuant to Article 2 shall terminate in its
entirety. Licensee shall remain obligated for all payments due at the time of such notice and for any continuing obligations otherwise surviving and owed under this Agreement pursuant to Section 7.9. 

7.3 Termination for Breach. Without prejudice to any other remedies that may be available under this Agreement, in the event that
Licensee, on the one hand, or Licensor, on the other hand, has materially breached this Agreement, and the breaching Party has not cured such breach within thirty (30) days following its receipt of written notice thereof from the non-breaching Party, the non-breaching Party may terminate this Agreement by providing written notice to the other Party with immediate effect. 

7.4 Termination for Insolvency. Either Licensor or Licensee may terminate this Agreement by written notice with immediate effect
if the other becomes insolvent, makes a general assignment for the benefit of creditors, is the subject of proceedings in a voluntary or involuntary bankruptcy proceeding instituted on behalf of or against such Party (except for involuntary
bankruptcies which are dismissed within ninety (90) days), or has a receiver or trustee appointed for substantially all of its property. 

7.5 Accrued Rights and Obligations. Termination or expiration of this Agreement for any reason shall not (a) release any
Licensor or Licensee from any liability which, at the time of such termination or expiration, has already accrued or which is attributable to a period prior to such termination or expiration or (b) preclude any Licensor or Licensee from
pursuing any rights and remedies it may have hereunder, or at law or in equity, with respect to any breach of, or default under, this Agreement. Licensor or Licensee understand and agree that monetary damages may not be a sufficient remedy for a
breach of this Agreement and that the Licensor or Licensee may be entitled to injunctive relief as a partial remedy for any such breach. 

7.6 Inventory on Hand. Upon termination or expiration of this Agreement for any reason other than for non-payment of Royalties and Milestone Payments, Licensee and its Sublicensees may sell or otherwise distribute the inventory of any Product then on hand until the first anniversary of the date of such termination.
All such sale or distribution shall be subject to the relevant terms of this Agreement (including the payment of Royalties thereon). 

7.7 Destruction of Biological Materials. Upon termination (but not expiration) of this Agreement, Licensee and its Sublicensees shall
promptly destroy all Potelligent® CHOK1SV, Vectors, Base Powders, and Transfection Medium and all Transfected Cells, as well as all Antibodies, and an officer of Licensee shall provide
Licensor with a written certification to such effect; provided, however, that Licensee may maintain small sample quantities of Transfected Cells and Antibodies [***] (“Retained Materials”), or [***] to the extent necessary to comply with
applicable Laws and regulatory purposes (including safety and quality guidelines) only. For the avoidance of doubt further research, development and/or manufacture shall not be undertaken on Retained Materials following termination of the
Agreement.  

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 15 

 7.8 Licenses. The license(s) granted to Licensee in this Agreement shall terminate
upon any termination of this Agreement and, in such event, Licensee shall cease, and cause its Sublicensees to cease, all uses of Licensor IP Rights or the Technology for any purposes, including but not limited to, the Research, development,
manufacturing and commercialization of any Product. Upon expiration of this Agreement, all license(s) granted to Licensee in this Agreement shall survive as paid-up, irrevocable,
non-exclusive licenses. 
 7.9 Survival. The following provisions of this Agreement
shall survive expiration or termination of this Agreement: Article 1; Section 2.4 (regarding Licensor’s retained rights); Section 3.1 (regarding sole uses of Technology); Article 6 (regarding payment obligations incurred prior to
termination or expiration, record retention and audit rights); Sections 7.6 through 7.9; Section 8.1 (regarding the ownership of any IP rights); Section 8.2 (regarding Patent prosecution); Article 9 (regarding confidentiality); Sections
11.4, 11.5 and 11.6 (regarding warranty disclaimers); Article 11 (regarding indemnifications); Article 12 (regarding dispute resolution); and Article 13 (regarding miscellaneous provisions). 

Article 8 INTELLECTUAL PROPERTY 

8.1 Ownership of IP. 

8.1.1 Background IP. Except as expressly otherwise provided herein, neither Party will, as a result of this Agreement, acquire any
right, title, or interest in any intellectual property either (i) owned or controlled by another Party prior to the Effective Date or (ii) developed or acquired by another Party independently from, and in the case of Licensee without the
use or reliance on the Technology. 
 8.1.2 General. Subject to Section 8.1.4, all Technology Improvements shall be owned by
Licensor, and Licensee hereby assigns to Licensor its entire right, title and interest in and to any Technology Improvements developed, conceived, reduced to practice, or invented by Licensee or its Sublicensees pursuant to the Activities
contemplated by this Agreement. Licensee shall disclose or cause to be disclosed to Licensor all Improvements made by or under authority of Licensee or its Sublicensees pursuant to the Activities contemplated by this Agreement during the Term.
Licensee (including its Sublicensees) shall maintain records in sufficient detail and in good scientific manner to properly reflect all work done and results achieved in connection with Technology Improvements hereunder. Licensee (including its
Sublicensees) shall promptly execute all documents and take all such other actions as may be reasonably requested to enable Licensor to Prosecute and Maintain Patents on the Improvements. 

8.1.3 Subject to the terms and conditions set forth herein, Licensor hereby grants to Licensee a
non-exclusive, world-wide, fully paid-up, irrevocable, transferable license, including the right to grant sublicenses as provided under Section 2.2, under the
Technology Improvements, to research, develop, make, use, sell and import the Product. 
 8.1.4 Licensee Product Improvements.
All inventions or other intellectual property made by or on under authority of Licensee other than Technology Improvements shall be owned by Licensee, including without limitation any and all inventions and other intellectual property directed to
improvements to the Product, Antibody or other Licensee Know-How or Patents. 

  
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 8.2 Patent Prosecution. As between Licensor and Licensee, Licensor shall have the
right, at its expense, to control the Prosecution and Maintenance of the Licensor Patent Rights and any Patents on Technology Improvements owned by Licensor as provided under Section 8.1.1 above, using counsel of its choice. As used in this
Article 8, “Prosecution and Maintenance” (and “Prosecute and Maintain”) shall mean the preparing, filing, prosecuting and maintenance of such Patents, as well as
re-examinations, reissues, requests for patent term extensions and the like with respect to such Patents, together with the conduct of interferences, the defense of oppositions and other similar proceedings
with respect to such Patents. 
 8.3 Infringement by Third Party. Subject to the provisions of this Section 8.3, in the
event that Licensee becomes aware that any Licensor Patent Right is being infringed by a Third Party or is subject to a declaratory judgment action arising from such infringement, Licensee shall promptly notify Licensor. Licensor shall have the sole
right (but not the obligation) to enforce the Licensor Patent Rights covering the Technology (an “Enforcement Action”). Licensee shall reasonably cooperate with Licensor in all such actions or proceedings, at Licensor’s expense.
Licensee agrees to be joined as a plaintiff if necessary and shall provide all reasonable cooperation (including any necessary use of its name) required to prosecute such litigation. If Licensee is joined as a plaintiff in any such suit, then
Licensor shall ensure that any counsel retained by Licensor in such matter is reasonably acceptable to the Licensee. Licensor shall have the sole benefit of any damages collected from any such Enforcement Action, after first reimbursing any costs or
expenses due to the Licensee pursuant to this Section 8.3. 
 8.4 Third Party Infringement Claims. Licensee shall
promptly notify Licensor in writing of any claims that Licensee’s use of the Technology, Licensor Patent Rights and/or Licensor Know-How infringes or improperly or unlawfully uses the proprietary rights
of any Third Party. Licensor shall have the sole right, but not the obligation, to take all such steps and proceedings and to do all other acts and things as may in Licensor’s sole discretion be necessary to defend such claims and Licensee
shall permit Licensor to have the sole conduct of any such steps and proceedings, including the right to settle them (whether or not Licensee is a party to them) provided that Licensor shall have no right to defend or settle any claims directed to
the Product or Antibody, either alone or in combination with the Technology where the Product or Antibody infringes any Third Party intellectual property rights without Licensee’s written consent ( not to be unreasonably withheld or delayed).
Licensee hereby agrees to co-operate fully as is reasonably necessary with Licensor, at Licensor’s sole cost and expense, including lending its name to the proceedings as may be necessary. Licensor shall
be entitled to retain any and all monies received from such proceedings, after first reimbursing Licensee for any expenses of Licensee due pursuant to this Section 8.4. For clarity no Party shall enter into any settlement of any claim
described in this Section 8.4 that adversely affects another Party’s proprietary rights, that requires another Party to pay money to a Third Party or that imposes liability on another Party without the other Party’s written consent
such consent not to be unreasonably conditioned, withheld or delayed. 

  
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 8.5 Product Markings and Trademarks. To the extent required by law, each Product
marketed and sold by Licensee or Sublicensees under this Agreement shall be marked with all patents and other intellectual property notices relating to the Licensor Patent Rights. Subject to the terms and conditions of this Agreement, Licensor
hereby grants to Licensee a non-exclusive, revocable license, with the limited right to Licensee to sublicense to its Sublicensees, to use and display the “POTELLIGENT® CHOK1SVTM” trademark solely for marking the Product, if required, under this Section 8.5. 

Article 9 CONFIDENTIALITY AND PUBLICATION 

9.1 Confidential Information. The Parties recognize that each Party’s Confidential Information constitutes highly
valuable and proprietary assets of the disclosing Party. 
 9.1.1 The Parties agree that Confidential Information shall not be deemed to
include information that the receiving Party can demonstrate by written documentation: 
 (a) is now, or hereafter becomes,
through no act or failure to act on the part of the receiving Party, in the public domain; 
 (b) is known by the receiving
Party or its Affiliates at the time of receiving such information, as evidenced by credible evidence; 
 (c) is furnished to
the receiving Party or its Affiliates by a Third Party under no obligation of confidentiality, as a matter of right and without restriction on disclosure; or 

(d) is independently discovered or developed by the receiving Party or its Affiliates without reference to the disclosing
Party’s Confidential Information. 
 9.1.2 Each Party agrees that, notwithstanding the termination or expiration of this Agreement, the
receiving Party shall maintain all Confidential Information of a disclosing Party in confidence and shall not publish, disseminate or otherwise disclose a disclosing Party’s Confidential Information to any Third Party, nor use any Confidential
Information of a disclosing Party, without the written consent of the disclosing Party, except for the purpose of this Agreement as provided in this Article 9. Notwithstanding the foregoing, the receiving Party may disclose and disseminate
Confidential Information of the disclosing Party only to those Affiliates, Sublicensees, employees or contractors, professional advisers, finance-providers, and potential and actual acquirers of the receiving Party who have a bona fide need to know
for the purpose of this Agreement, or an applicable financing or acquisition, and only after such Affiliates, employees, contractors, professional advisers, finance-providers, and potential and actual acquirers have been advised of the confidential
nature of such information and are bound in writing by an obligation of confidentiality under terms substantially similar to the confidentiality obligations in this Agreement; and further provided that potential acquirers will only be entitled to
received information on the material terms of this Agreement. 

  
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 9.2 Permitted Use and Disclosures. Each receiving Party may use or disclose
Confidential Information of a disclosing Party to the extent such use or disclosure is reasonably necessary in complying with applicable governmental regulations or otherwise submitting information to governmental authorities, conducting clinical
trials, applying for regulatory approvals, negotiating or making a permitted sublicense or otherwise exercising its rights hereunder, provided that if a receiving Party is required to make any such disclosure of a disclosing Party’s
Confidential Information, it shall make commercially reasonable efforts to: (a) give prompt written notice to the disclosing Party of the proposed disclosure to the relevant governmental authority, and allow the disclosing Party at least thirty
(30) days to object to all or any portion of the disclosure before it is disclosed; (b) if advance notice is not possible, provide written notice of disclosure immediately thereafter; (c) to the extent possible, minimize the extent of
such disclosure; and (d) secure confidential treatment of such information prior to its disclosure (whether through protective orders or otherwise), it being understood that any information so disclosed shall otherwise remain subject to the
limitations on use and disclosure hereunder. The Party proposing to disclose any Confidential Information under this provision shall take into reasonable consideration any comments and objections raised by the disclosing Party. 

9.3 Press Releases. The text of any press release or other communication to be published by or presented in the media concerning
the subject matter of this Agreement shall require the prior written approval of all Parties, except as may be required by law or regulation. 

9.4 Disclosures Required by Law. If a public disclosure is required by law, rule or regulation, including in a filing with the
Securities and Exchange Commission, the disclosing Party shall provide copies of the disclosure reasonably in advance of such filing or other disclosure, but not later than ten (10) Business Days prior to the filing, for a non-disclosing Party’s prior review and comment and to allow a non-disclosing Party a reasonable time to object to any such disclosure or to request confidential
treatment thereof. Notwithstanding the foregoing, the Parties hereby agree to issue a press release subsequent to the Effective Date, the content of which shall be approved by the Parties as soon as practical. 

9.5 Review of Proposed Publications, Presentations or Patent Applications. No Party shall publish any manuscript,
abstract, specification, text and/or any other material that includes information about the Agreement, the Technology or a Party’s Confidential Information without providing a copy of the materials to the receiving Parties and obtaining such
other Parties’ consent pursuant to this Section 9.5. A receiving Party shall review any such materials provided to it by the publishing Party to determine if Confidential Information is or may be disclosed. A receiving Party shall notify
the publishing Party [***] after receipt of the proposed publication if the receiving Party determines that Confidential Information of the receiving Party is or may be disclosed. If it is determined by the receiving Party that patent applications
should be filed, the publishing Party shall delay its submission for publication or presentation for a period not to exceed [***] from the receiving Party’s receipt of the proposed publication to allow time for filing of one or more patent
applications. In the event that the delay needed to complete the filing of any necessary patent application [***], the Parties shall discuss the need for obtaining an extension of the publication delay [***]. If it is determined by the receiving
Party that Confidential Information of such Party is being disclosed, the publishing Party shall comply with any request to remove the Confidential Information from the proposed publication to avoid such disclosure. The publishing Party shall
appropriately acknowledge the contributions of the other Parties and its employees to the material published or presented, unless otherwise instructed by such other Party. 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 19 

 9.6 Confidential Terms. Except as expressly permitted in this Agreement, no
Party shall disclose any terms of this Agreement to any Third Party without the prior written consent of the other Parties; except that such consent shall not be required for disclosure to actual or prospective investors or to a Party’s
accountants, attorneys and other professional advisors (provided that such disclosures shall be subject to continued confidentiality obligations at least as strict as are set forth herein). 

9.7 Return or Destruction of Confidential Information. Upon termination or expiration of this Agreement, Licensor and Licensee
shall each, at its sole discretion, either promptly return to the other all Confidential Information of the other or destroy all tangible items comprising, bearing or containing any Confidential Information and provide a written certification of
such destruction; provided, however, that each Party may retain one (1) copy of such Confidential Information for archival purposes and for ensuring compliance with this Article 9. 

Article 10 REPRESENTATIONS, WARRANTIES AND COVENANTS 

10.1 Mutual Representations, Warranties and Covenants. Licensor and Licensee each warrants, represents and covenants to the
other that: 
 10.1.1 Organization. It is duly organized and validly existing under the laws of its jurisdiction of
incorporation, and has full corporate power and authority to enter into this Agreement and to perform its obligations hereunder; 

10.1.2 Authority. This Agreement has been duly authorized, executed and delivered by such Party and constitutes valid
and binding obligations of such Party, enforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, and other laws of general application limiting the enforcement of creditors’ rights;

 10.1.3 Consents and Approvals. Such Party has obtained all necessary consents, approvals and authorizations of all
governmental authorities and Third Parties required to be obtained by such Party in connection with the execution of this Agreement; 

10.1.4 No Conflicts. The execution, delivery and performance of this Agreement does not conflict with, or constitute a
breach or default under any of the charter or organizational documents of such Party, any law, order, judgment or governmental rule or regulation applicable to such Party, or any material agreement, contract, commitment or instrument to which such
Party is a party. 
 10.1.5 Assignment of IP Rights. Each employee, consultant, agent or Sublicensee of such Party
performing work under this Agreement has, and during the Term will have, a legally binding and outstanding obligation to assign the rights of such employee, consultant, agent or Sublicensee to any Technology Improvements to such Party. 

  
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 10.2 Licensor’s Representations, Warranties and Covenants. Licensor represents,
warrants and covenants to Licensee that: 
 10.2.1 it has the right to grant the rights and licenses granted herein; 

10.2.2 in the performance of this Agreement, or the exercise of any rights obtained hereunder, Licensor will comply with all
applicable laws, regulations, rules, orders and other requirements, now or hereafter in effect; 
 10.2.3 to its knowledge,
except as otherwise disclosed to Licensee, there are as at the Effective Date no claims asserted or threatened that any of the Licensor IP Rights or Licensor Technology infringe, misappropriate or violate any Third Party intellectual property
rights; and 
 10.2.4 Licensor will notify Licensee in writing promptly if it receives or is notified of a claim from a Third
Party that the use by Licensee of the Potelligent Technology infringes any intellectual or industrial property rights vested in such Third Party. 

10.3 Licensee’s Representations, Warranties and Covenants. Licensee represents, warrants and covenants to
Licensor that in the performance of this Agreement, or the exercise of any rights obtained hereunder, Licensee will comply with and will cause its Sublicensees to comply with, all applicable laws, regulations, rules, orders and other requirements,
now or hereafter in effect. 
 10.4 DISCLAIMER OF WARRANTIES. EXCEPT AS SET FORTH IN THIS AGREEMENT, LICENSOR AND
LICENSEE MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED (IN THE CASE OF LICENSOR, INCLUDING WITH RESPECT TO THE TECHNOLOGY), INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE, VALIDITY OF THE PATENTS LICENSED HEREUNDER, OR NONINFRINGEMENT OF THE IP RIGHTS OF THIRD PARTIES. IN PARTICULAR, LICENSOR OFFERS NO REPRESENTATION OR WARRANTIES THAT THE USE OF ALL OR ANY PART OF THE TECHNOLOGY WILL RESULT
IN THE SUCCESSFUL COMMERCIALIZATION OF ANY PRODUCT FOR ANY PURPOSE.EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT AND WITHOUT LIMITING LICENSEE’S REMEDIES FOR ANY BREACH OF THIS AGREEMENT BY LICENSOR, LICENSOR SHALL NOT BE LIABLE TO LICENSEE
FOR ANY DAMAGES INCLUDING INCIDENTAL OR CONSEQUENTIAL DAMAGES OR COST OF PROCUREMENT OF SUBSTITUTE GOODS SERVICES OR TECHNOLOGY BY REASON OF THE LICENSEE’S USE AND APPLICATION OF THE TECHNOLOGY, WHICH USE AND APPLICATION IS UNDERTAKEN AT
LICENSEE’S SOLE RISK. 

  
  

21 

 10.5 MATERIALS DISCLAIMER. THE VECTORS AND POTELLIGENT® CHOK1SV TRANSFERRED PURSUANT TO THIS AGREEMENT, WHEN COMBINED WITH AN ANTIBODY, ARE IN THE DEVELOPMENTAL STAGE AND MAY HAVE HAZARDOUS PROPERTIES. THE VECTORS, BASE POWDERS, SUPPLEMENTS AND
TRANSFECTION MEDIUM AND POTELLIGENT® CHOK1SV ARE UNTESTED AND, EXCEPT AS SET FORTH IN THIS AGREEMENT, PROVIDED “AS IS” WITH NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. LICENSEE SHALL BEAR ALL RISK RELATING TO THE VECTORS OR POTELLIGENT® CHOK1SV, BASE POWDER, SUPPLEMENTS AND TRANSFECTION MEDIUM TRANSFERRED
TO LICENSEE. 
 10.6 IP DISCLAIMER. EXCEPT AS OTHERWISE EXPLICITLY PROVIDED IN THIS AGREEMENT, NOTHING IN THIS AGREEMENT IS OR
SHALL BE CONSTRUED AS: (i) A WARRANTY OR REPRESENTATION BY LICENSOR AS TO THE VALIDITY, ENFORCEABILITY OR SCOPE OF ANY CLAIM WITHIN LICENSOR IP RIGHTS; (ii) A WARRANTY OR REPRESENTATION THAT ANYTHING MADE, USED, OFFERED FOR SALE, SOLD OR
OTHERWISE DISPOSED OF UNDER ANY LICENSE GRANTED IN THIS AGREEMENT IS OR SHALL BE FREE FROM INFRINGEMENT OF ANY PATENT RIGHTS OR OTHER IP RIGHT OF A THIRD PARTY; (iii) AN OBLIGATION TO BRING OR PROSECUTE ACTIONS OR SUITS AGAINST THIRD PARTIES
FOR INFRINGEMENT OF ANY OF THE LICENSOR IP RIGHTS; OR (iv) GRANTING BY IMPLICATION, ESTOPPEL, OR OTHERWISE ANY LICENSES OR RIGHTS UNDER IP RIGHTS OF LICENSEE OR LICENSOR OR THIRD PARTIES, REGARDLESS OF WHETHER SUCH IP OR OTHER RIGHTS ARE
DOMINANT OR SUBORDINATE TO ANY LICENSOR IP RIGHTS. 
 Article 11 INDEMNIFICATION 

11.1 Indemnification by Licensee. Licensee shall defend, indemnify and hold harmless Licensor, its Affiliates, licensees and
their respective directors, officers, employees and agents from all claims, losses, damages and expenses, including reasonable legal expenses (“Losses”) resulting from suits, claims, actions, demands or other proceedings, in each case
brought by a Third Party (“Claims”) arising out of or relating to (i) the negligence, unlawful acts or willful misconduct of Licensee (including its Sublicensees) in connection with its or their performance of this Agreement;
(ii) Licensee’s material breach of any of its covenants, warranties or representations made under this Agreement; or (iii) the making, having made, distribution, sale, offer for sale or use of any Antibody or Product or the use of
Licensor IP Rights or the Technology) by Licensee or its Sublicensees, except to the extent that such Losses are a direct result of Licensor’s gross negligence, willful misconduct or unlawful act or its breach of any covenant, representation or
warranty made by it in this Agreement. 
 11.2 Indemnification by Licensor. Licensor shall defend, indemnify and hold harmless
Licensee, its Affiliates, and their respective directors, officers, employees and agents from all Losses resulting from all Claims arising out of or relating to (i) the gross negligence, unlawful acts or willful misconduct of Licensor in
connection with its performance of this Agreement; or (ii) Licensor’s material breach of any of its covenants, warranties or representations made under this Agreement, except in each case to the extent that such Losses are a direct result
of Licensee’s gross negligence, willful misconduct or unlawful act or its breach of any covenant, representation or warranty made by it in this Agreement. 

  
 22 

 11.3 Procedure. If an indemnified Party (the “Indemnitee”) intends
to claim indemnification under this Article 11, it shall promptly notify the indemnifying Party (the “Indemnitor”) in writing of any Claims of Third Party for which the Indemnitee intends to claim such indemnification, and the Indemnitor
shall have the right to participate in, and, to the extent the Indemnitor so desires, to assume the defense thereof with counsel mutually satisfactory to the Parties; provided, however, that an Indemnitee shall have the right to retain its own
counsel, with the fees and expenses to be paid by the Indemnitor, if representation of such Indemnitee by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing interests between the Indemnitee and any
other Party represented by such counsel in such proceeding. The obligations of this Article 11 shall not apply to amounts paid in settlement of any Claims of Third Party if such settlement is effected without the consent of the Indemnitor, which
consent shall not be withheld or delayed unreasonably. The failure to deliver written notice to the Indemnitor within a reasonable time after the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve the
Indemnitor of any obligation to the Indemnitee under this Article 11, but the failure to so deliver written notice to the Indemnitor shall not relieve it of any obligation that it may have to any Party claiming indemnification otherwise than under
this Article 11. The Indemnitee, its employees and agents, shall reasonably cooperate with the Indemnitor and its legal representatives in the investigation of any Claim covered by this Article 11.  

11.4 Insurance Proceeds. Any indemnification hereunder shall be made net of any insurance proceeds recovered by the Indemnitee;
provided, however, that if, following the payment to the Indemnitee of any amount under this Article 11, such Indemnitee recovers any insurance proceeds in respect of the Claim for which such indemnification payment was made, the Indemnitee shall
promptly pay an amount equal to the amount of such proceeds (but not exceeding the amount of such indemnification payment) to the Indemnitor. 

11.5 Insurance. Each Party shall procure and maintain insurance policies underwritten by a reputable insurance company or
self-insurance, including clinical trial and product liability insurance, and providing adequate coverage for its respective obligations and activities hereunder. Notwithstanding the foregoing, Licensee shall procure and/or maintain policies of
insurance for comprehensive general liability, clinical trials and products liability coverage in a minimum amount of [***] with respect to Licensee’s performance under this Agreement provided however that the Licensee need only maintain
insurance to the value of [***] until commencement of clinical trials for the Product whereupon the coverage shall be increased to [***] as per the above . 

11.6 Limitation of Liability. LICENSOR SHALL NOT BE LIABLE TO LICENSEE AND LICENSEE SHALL NOT BE LIABLE TO LICENSOR FOR
ANY CONSEQUENTIAL, INCIDENTAL, PUNITIVE, SPECIAL OR INDIRECT DAMAGES, INCLUDING LOSS OF ANTICIPATED PROFITS, EXCEPT TO THE EXTENT SUCH DAMAGES WERE CAUSED BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OR UNLAWFUL ACT OF THAT PARTY OR ITS AFFILIATES
OR SUBLICENSEES. LICENSOR’S LIABILITY TO LICENSEE ARISING OUT OF THIS AGREEMENT SHALL BE LIMITED TO THE AGGREGATE VALUE OF THE MONETARY CONSIDERATION ACTUALLY RECEIVED BY LICENSOR FROM LICENSEE UNDER THIS AGREEMENT. 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 23 

 Article 12 DISPUTE RESOLUTION 

12.1 Dispute Resolution Philosophy and Process. Any dispute that may arise between Licensor and Licensee relating to the terms
of this Agreement or the activities of the Parties shall be referred to (i) an officer of Licensee and (ii) an officer of each of Lonza and BioWa (collectively, the “Management Representatives”), who shall attempt in good faith
to achieve a resolution. If such Management Representatives are unable to resolve such a dispute within [***], such dispute shall be referred to [***] who shall use [***] to [***] upon the [***] to resolve the dispute. If any dispute is not resolved
by these individuals (or their designees) within [***] or such [***] then Licensee or Licensor shall have the right to pursue legal action pursuant to Section 13.8. 

12.2 No Limitation. Notwithstanding the foregoing, nothing in this Agreement shall be construed as limiting in any way the right
of a Party to immediately seek temporary and/or preliminary injunctive relief from a court of competent jurisdiction with respect to any actual or threatened breach of this Agreement. 

Article 13 MISCELLANEOUS PROVISIONS 

13.1 Advice of Counsel. Licensee and Licensor have consulted counsel of their choice regarding this Agreement and each
acknowledges and agrees that this Agreement shall not be deemed to have been drafted by one Party or another and shall be construed accordingly. 

13.2 Assignment. [***] shall not assign this Agreement [***] provided however that the [***] may assign this Agreement
[***] so long as [***]. In order for an assignment under this provision to become effective [***] shall confirm to [***] that it will [***] under this Agreement from the date of the assignment. No assignment shall relieve the assignor of its
obligations which accrued prior to the date of assignment. If [***] would result in withholding or other similar taxes becoming due on payments to Licensor under this Agreement, [***] shall be responsible for all such taxes and the amount of such
taxes shall not be withheld or otherwise deducted from the amounts payable to [***]. If, in such event, [***] then [***] shall [***]. 

13.3 Binding Effect. This Agreement, the rights granted and obligations assumed hereunder shall be binding upon and shall inure
to the benefit of Licensee, Licensor and their respective successors and permitted assigns. 
 13.4 Counterparts. This
Agreement may be executed in counterparts, or facsimile versions, each of which shall be deemed to be an original, and all of which together shall be deemed to be one and the same agreement. 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 24 

 13.5 Entire Agreement. This Agreement and the exhibits and schedules hereto
and thereto, constitute and contain the entire understanding and agreement of the Parties respecting the subject matter of this Agreement, and cancel and supersede any and all prior negotiations, correspondence, understandings and agreements between
the Parties, whether oral or written, regarding such subject matter, except that the Confidentiality Agreement between the Parties dated as of January 30, 2013 shall remain in full force and effect pursuant to the terms thereof. 

13.6 Force Majeure. The failure of Licensor or Licensee to timely perform any obligation under this Agreement by reason of
epidemic, earthquake, riot, civil commotion, fire, act of God, war, terrorist act, strike, flood, or governmental act or restriction, or other cause that is beyond the reasonable control of that Party shall not be deemed to be a material breach of
this Agreement, but shall be excused to the extent and for the duration of such cause, and that Party shall provide the other Parties with full particulars thereof as soon as it becomes aware of the same (including its best estimate of the likely
extent and duration of the interference with its activities) and shall use commercially reasonable efforts to avoid or remove such cause, and shall perform its obligation(s) with the utmost dispatch when the cause is removed. If the performance of
any such obligation under this Agreement is delayed owing to such a force majeure for any continuous period of more than one hundred eighty (180) days, the Parties hereto shall consult with respect to an equitable solution, including the
possibility of the mutual termination of this Agreement. 
 13.7 Further Actions. Each Party agrees to execute, acknowledge and
deliver such further instruments and to do all such other acts as may be reasonably necessary or appropriate in order to carry out the purposes and intent of this Agreement. The Parties shall cooperate and use all reasonable efforts to make all
other registrations, filings, and applications, to give all notices, and to obtain as soon as practicable all governmental or other consents, transfers, approvals, orders, qualifications, authorizations, permits, and waivers, if any, and to do all
other things necessary or desirable for the consummation of this Agreement. 
 13.8 Governing Law. This Agreement shall
be governed by and construed in accordance with the laws of the [***], without regard to the application of principles of conflicts of law. The [***] located in [***] shall have exclusive jurisdiction in relation to this Agreement provided that the
Parties shall have the right to proceed to a suitable jurisdiction for the purpose of enforcing a judgment, award, or order (including without limitation seeking specific performance) and injunctive relief. 

13.9 Interpretation. The captions and headings in this Agreement are for convenience only, and are to be of no force or
effect in construing or interpreting any provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections or Exhibits mean the particular Articles, Sections or Exhibits to this Agreement and references to this
Agreement include all Exhibits hereto. Unless the context otherwise clearly requires, whenever used in this Agreement: (i) the words “include” or “including” shall be construed to have the inclusive meaning frequently
identified with the phrase “including but not limited to” or “including without limitation;” (ii) the word “day” or “year” means a calendar day or year; (iii) the word “notice” shall mean notice
in writing (whether or not specifically stated) and shall include notices, consents, approvals and other written communications contemplated under this Agreement; (iv) the words “hereof,” “herein,” “hereby” and
derivative or similar words refer to this Agreement (including any Exhibits); (v) the word “or” shall be construed to have the inclusive meaning identified with the phrase 

  
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 25 

 
“and/or;”(vi) words of any gender include the other gender; (vii) references to the plural shall be deemed to include the singular and the plural, the part and the whole; and
(viii) references to any specific law, rule or regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement law, rule or regulation thereof. 

13.10 No Implied Licenses to Use of Name or Trademark. Except as otherwise specifically provided in Section 8.5, no right,
expressed or implied, is granted by this Agreement to a Party to use in any manner the name or any other trademark of any other Party in connection with the performance of this Agreement. 

13.11 Independent Contractors. Each Party is an independent contractor under this Agreement. Nothing contained in this Agreement
is intended nor is to be construed so as to constitute Licensee or Licensor as partners or joint venturers with respect to this Agreement. No Party shall have any express or implied right or authority to assume or create any obligations on behalf of
or in the name of any other Party, or to bind any other Party to any other contract, agreement or undertaking with any Third Party or Affiliate. 

13.12 Notices and Deliveries. Any formal notice, request, delivery, approval or consent required or permitted to be given under
this Agreement shall be in writing in English and shall be deemed to have been sufficiently given when it is received, whether delivered in person, transmitted by facsimile with contemporaneous confirmation by mail, delivered by certified mail (or
its equivalent), or delivered by courier service (receipt required), to the Party to which it is directed at its address shown below or such other address as such Party shall have last given by notice to the other Parties. 

 

			
	If to Licensor:	  	With a copy to:
		
	BioWa, Inc.	  	[***]
	[***]	  	
		
	and	  	With a copy to:
		
	Lonza Sales AG	  	[***]
	[***]	  	
		
	If to Licensee:	  	With a copy to:
	Allakos, Inc.	  	
	75 Shoreway Road	  	
	Suite A San Carlos	  	
	CA 94070	  	
	Attn: CEO	  	
	Fax:	  	

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 26 

 13.13 Severability. If any provision of this Agreement becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision, so long as the Agreement, taking into account said voided provision, continues to provide the
Parties with materially the same benefits as set forth in this Agreement on the Effective Date. If, after taking into account said voided provision, the Parties are unable to realize materially the same, the Parties shall negotiate in good faith to
amend this Agreement to reestablish (to the extent legally permissible) the benefits as provided the Parties under this Agreement on the Effective Date. 

13.14 Waiver. No waiver, modification or amendment of any provision of this Agreement shall be valid or effective unless made in
writing and signed by a duly authorized officer of each Party. The failure of either Party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a
similar subsequent failure to perform any such term or condition. 
 13.15 Exhibits. The exhibits attached to this Agreement
shall form an integral part hereof. In the event of any inconsistency between this Agreement and any exhibit, this Agreement shall prevail. 

13.16 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 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 section 365(n) of the Bankruptcy Code. 

IN WITNESS WHEREOF, the Parties have put their names and affixed their seals or executed this Agreement and each Party shall have one
(1) copy. 
  

									
	LONZA SALES AG	  		  	BIOWA, INC.
					
	By:	  	 /s/ Janet L. White
	  		  	By:	  	 /s/ Yasunori Yamaguchi

	Name:	  	Janet L. White	  		  	Name:	  	Yasunori Yamaguchi, Ph.D.
	Title: 	  	Authorized Signatory	  		  	Title:	  	President and CEO
			
	LONZA SALES AG	  		  	ALLAKOS, INC.
					
	By:	  	 /s/ Jeetendra Vaghjiani
	  		  	By:	  	 /s/ C.R. Bebbington

	Name:	  	Jeetendra Vaghjiani	  		  	Name:	  	Christopher Bebbington
	Title:	  	Authorized Signatory	  		  	Title:	  	Chief Executive Officer

  
 27 

 EXHIBIT 1 

LICENSOR PATENT RIGHTS 

[***] 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 28 

 EXHIBIT 2 

PROGRESS REPORT 
 [***]

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 29 

 EXHIBIT 3 

BASE POWDER, TRANSFECTION MEDIUM, TRANSFECTION SUPPLEMENTS, AND TRANSFECTION MEDIUM KNOW-HOW

 [***] 

  
 *** Certain information in this
agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 30 

 EXHIBIT 4 

[***] 
 [***] 

  
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agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

 
 31EX-10.15

 Exhibit 10.15 

FINAL 
 CONFIDENTIAL 

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS
BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS [***]. 

AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT 

BETWEEN 
 THE JOHNS
HOPKINS UNIVERSITY 
 & 

ALLAKOS INC. 
 JHU
AGREEMENT A30817 

					
	FINAL	  		  	
		  		  	CONFIDENTIAL

  

 AMENDED AND RESTATED 

EXCLUSIVE LICENSE AGREEMENT 

THIS AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT (this “Agreement”) is entered into by and between THE JOHNS HOPKINS
UNIVERSITY, a Maryland corporation having an address at 3400 N. Charles Street, Baltimore, Maryland, 21218-2695 (“JHU”) and ALLAKOS INC., a Delaware corporation having an address at 75 Shoreway Road, Suite A, San Carlos, CA 94070
(“Company”), as of September 30, 2016 (the “Restatement Date”) and amends and restates that certain Exclusive License Agreement entered into by and between JHU and Allakos as of the Effective Date (the “Original
License Agreement”), with respect to the following: 
 RECITALS 

WHEREAS, as a center for research and education, JHU is interested in licensing PATENT RIGHTS (hereinafter defined) in a manner that will
benefit the public by facilitating the distribution of useful products and the utilization of new processes, but is without capacity to commercially develop, manufacture, and distribute any such products or processes; 

WHEREAS, a valuable invention(s) entitled “Polynucleotides Encoding a Sialoadhesin Family
Member-2 (SAF-2)” was developed during the course of research conducted by Drs. Bruce S. Bochner and Robert Schleimer (JHU Ref. C03875); “Sialoadhesin Factor-2 (SAF-2) Antibodies” was developed during the course of research conducted by Drs. Bruce S. Bochner, Robert Schleimer, and Esra Nutku-Bilir, (JHU Ref. C03906);
“2E2, A Mouse IgG1 Monoclonal Antibody Recognizing Siglec-8” was developed during the course of research conducted by Drs. Bruce S. Bochner, Robert Schleimer and Esra Nutku-Bilir (JHU Ref. C11235);
“2C4, a Mouse IgG1 Monoclonal Antibody Recognizing Siglec-8” was developed during the course of research conducted by Drs. Bruce S. Bochner, Robert Schleimer and Esra Nutku-Bilir (JHU Ref. C11251)
(collectively, all JHU inventors are hereinafter referred to as “Inventors”); 
 WHEREAS, JHU has acquired through assignment from
the Inventors and from a prior assignee, all rights, title and interest, with the exception of certain retained rights by the United States Government, in its interest in said valuable inventions; 

WHEREAS, Company and JHU executed that certain Exclusive Option Agreement with Effective Date of December 5, 2012 (the “Option
Agreement”) with agreed-upon license terms attached in Exhibit C of that agreement for the above-identified inventions under JHU Ref. C03875, JHU Ref. C03906, JHU Ref. C11235 and JHU Ref. C11251, and under which Company received the
BIOLOGICAL MATERIAL(S) under JHU Ref. C11235 and JHU Ref. C11251 from Dr. Bruce Bochner at JHU and on which Company conducted evaluation testing during the term of the Exclusive Option Agreement (JHU Agreement A21208), and executed the Original
License Agreement with Effective Date of December 20, 2013; and 
 WHEREAS, the Parties now desire to amend and replace the Original
License Agreement in its entirety with this Agreement, effective as of the Restatement Date. 

					
	FINAL	  		  	
		  		  	CONFIDENTIAL

  

 NOW THEREFORE, in consideration of the premises and the mutual promises and covenants
contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

ARTICLE 1 
 DEFINITIONS

 All references to particular Exhibits, Articles or Paragraphs shall mean the Exhibits to, and Paragraphs and Articles of, this
Agreement, unless otherwise specified. For the purposes of this Agreement and the Exhibits hereto, the following words and phrases shall have the following meanings: 

1.1 “AFFILIATED COMPANY(IES)” as used herein in either singular or plural shall mean any corporation,
company, partnership, joint venture or other entity, which controls, is controlled by or is under common control with Company. For purposes of this Paragraph 1.1, control shall mean the direct or indirect ownership of at least fifty percent (50%).

 1.2 “BIOLOGICAL MATERIAL(S)” shall mean materials in JHU’s possession as identified in Exhibit D which
have been assigned to JHU by Inventors and prior assignee of PATENT RIGHT(S). 
 1.3 “DEVELOPED PRODUCT(S)” shall
mean any materials, compositions, biologic, drugs, other products (including combination products), or methods which but for the use of the BIOLOGICAL MATERIALS licensed hereunder could not be developed, made, invented, discovered or derived. For
the avoidance of doubt, DEVELOPED PRODUCT(S) (as defined above) shall include all resultant FDA and other regulatory agency approved products developed, made, invented, discovered or derived from BIOLOGICAL MATERIAL(S). DEVELOPED PRODUCTS excludes
LICENSED PRODUCT(S). The [***] identified in Exhibit D under BIOLOGICAL MATERIALS are expressly excluded from DEVELOPED PRODUCT(S) in both LICENSED FIELD A and LICENSED FIELD B. 

1.4 “DIAGNOSTIC FIELD” shall mean the field of identification, diagnosis or prognosis of any disease or medical
condition in humans or other animals using a LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S). 
 1.5 “EFFECTIVE DATE” of
this Agreement shall mean December 20, 2013. 
 1.6 “EXCLUSIVE LICENSE” shall mean the license grant by JHU to
Company pursuant to Paragraph 2.1 of this Agreement of its entire right and interest in the PATENT RIGHTS and BIOLOGICAL MATERIALS, subject to Paragraphs 2.3 and 2.4 of this Agreement. 

1.7 “FIRST COMMERCIAL SALE” shall mean the first transfer by a LICENSEE, AFFILIATED COMPANY or SUBLICENSEE of a
LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) for value, but shall not include a transfer of materials for the purpose of use in a clinical trial, where the consideration received is intended to cover the manufacturing cost of the materials. 

  
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this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
	FINAL	  		  	
		  		  	CONFIDENTIAL

  

 1.8 “LICENSED FIELD A” shall mean the treatment and/or prevention of
any disease or medical condition in humans or other animals using a LICENSED PRODUCT or DEVELOPED PRODUCT, but excluding the diagnosis thereof. 

1.9 “LICENSED FIELD B” shall mean any application, use, manufacture,
sub-license, sale, lease or transfer of LICENSED PRODUCTS, DEVELOPED PRODUCTS, or BIOLOGICAL MATERIALS, including within the DIAGNOSTIC FIELD and as research reagents, but excluding LICENSED FIELD A. 

1.10 “LICENSED PRODUCT(S)” as used herein in either singular or plural shall mean any material, composition, biologic,
drug, other products, or methods, that, in the absence of a license to the PATENT RIGHT(S), the manufacture, use, offer for sale, sale, or importation thereof, or the practice thereof, would infringe a claim of the PATENT RIGHT(S) (infringement
shall include, but not be limited to, direct, contributory or inducement to infringe same); or is, incorporates or uses a BIOLOGICAL MATERIAL. The [***] identified in Exhibit D under BIOLOGICAL MATERIAL(S) are expressly excluded from LICENSED
PRODUCT(S) in both LICENSED FIELD A and LICENSED FIELD B. 
 1.11 “NET REVENUES” as used herein shall mean and
includes any consideration received for the sale, license, lease or other transfer (collectively “Transaction”) of LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) by Company, AFFILIATED COMPANIES or SUBLICENSEE(S). Consideration includes but
is not limited to currency, equity, intangible rights, services and other things of value provided to or received by Company as part of a Transaction allocable to the sale, license, lease or other transfer of LICENSED PRODUCT(S) and DEVELOPED
PRODUCT(S), the fair value of which must be included to determine NET REVENUES. NET REVENUES may be calculated using the accrual or cash method, but such calculation must be consistent from month to month and year to year, and must be the same
method used for all similar transactions, or if none, the same method used generally in reporting its business activity for United States federal tax purposes. 

(a) NET REVENUES may exclude the following items, but only to the extent that they are included in gross revenue [***] and [***] or [***]. 

(b) In the event that Company, AFFILIATED COMPANY or SUBLICENSEE sells a LICENSED PRODUCT or DEVELOPED PRODUCT in combination with other active
ingredients or components that are not LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) or as part of a kit (“Other Items”), the NET REVENUES for purposes of royalty payments on the combination shall be calculated as follows: 

 

	 	(i)	If all LICENSED PRODUCTS and DEVELOPED PRODUCT(S) and Other Items contained in the combination are commercially available separately, the NET REVENUES for purposes of royalty payments will be calculated by multiplying
the NET REVENUES of the combination by the fraction A/A+B, where A is the separately available price of all LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) in the combination, and B is the separately available price for all Other Items in the
combination; 

  
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this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
	FINAL	  		  	
		  		  	CONFIDENTIAL

  

	 	(ii)	If the combination includes Other Items which are not sold separately (but all LICENSED PRODUCTS or DEVELOPED PRODUCT(S) contained in the combination are available separately), the NET REVENUES for purposes of royalty
payments will be calculated by multiplying the NET REVENUES of the combination by A/C, where A is as defined above and C is the invoiced price of the combination; and 

 

	 	(iii)	If the LICENSED PRODUCTS or DEVELOPED PRODUCT(S) contained in the combination are not sold separately, the NET REVENUES for such combination shall be NET REVENUES of such combination as defined [***] However, the
parties agree to [***] in the royalty rate to reflect the fair value that the LICENSED PRODUCT or DEVELOPED PRODUCT attributed to the overall product sold, but in no event shall the royalty rates [***]. 

The term “Other Items” does not include solvents, diluents, carriers, excipients, buffers or the like used in formulating a product,
including those ingredients identified in the Inactive Ingredient Database maintained by the FDA. 
 1.12 “MAJOR
MARKET” shall mean Japan, United Kingdom, Spain, Italy, France or Germany. 
 1.13 “PATENT RIGHT(S)”
shall mean the patent applications and issued patents identified in Exhibit C; the patents issued, in any country, from the applications listed in Exhibit C and from divisionals and continuations of those applications and any reissues of
such patents; claims of continuations-in-part applications and subsequent patents directed to the subject matter described in the patent applications listed in
Exhibit C to the extent (a) with respect to claims for [***] in such continuation-in-part such claims are [***] or (b) such claims [***] or the claims
in the continuations-in-part are supported by the original disclosures of the parent applications; and claims of all foreign patent applications and subsequent patents
that issue, are granted or are registered which are directed to subject matter described in the patent applications and/or patents listed in Exhibit C. 

1.14 “SUBLICENSEE(S)” as used herein in either singular or plural shall mean any person or entity other than
AFFILIATED COMPANIES to which Company has granted a sublicense under this Agreement. 
 1.15 “TERM” has
the meaning set forth in Paragraph 9.1. 
 1.16 “TERRITORY” shall mean worldwide. 

  
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this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
	FINAL	  		  	
		  		  	CONFIDENTIAL

  

 ARTICLE 2 

LICENSE GRANT 
 2.1
Grants. Subject to the terms and conditions of this Agreement, JHU hereby grants to Company: 
  

	 	(a)	an EXCLUSIVE LICENSE to develop, make, have made, use, have used, import, offer for sale, sell and have sold the LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) in the TERRITORY under the PATENT RIGHTS and using the
BIOLOGICAL MATERIAL(S) in the LICENSED FIELD A and LICENSED FIELD B and 

  

	 	(b)	an EXCLUSIVE LICENSE to make, have made and use BIOLOGICAL MATERIAL(S) in LICENSED FIELD A and LICENSED FIELD B. 

  

	 	(c)	For clarity, the EXCLUSIVE LICENSE granted pursuant to subsection (b) does not include the right to sell and have sold BIOLOGICAL MATERIAL(S) which JHU and Company agree would be conducted under the EXCLUSIVE
LICENSE granted under subsection (a). Company agrees that the [***] identified in [***] are expressly excluded from the right to sell and have sold in both LICENSED FIELD A and LICENSED FIELD B. 

These grants shall apply to the Company and any AFFILIATED COMPANIES, except that any AFFILIATED COMPANIES shall not have the right to
sublicense others as set forth in Paragraph 2.2 below. If any AFFILIATED COMPANIES exercises rights under this Agreement, such AFFILIATED COMPANIES shall be bound by all terms and conditions of this Agreement, including but not limited to indemnity,
insurance provisions and royalty payments, which shall apply to the exercise of the rights, to the same extent as would apply had this Agreement been directly between JHU and the AFFILIATED COMPANIES. In addition, Company shall remain fully liable
to JHU for all acts and obligations of AFFILIATED COMPANIES such that acts of the AFFILIATED COMPANIES shall be considered acts of the Company. 

2.2 Sublicense. Company may sublicense to third parties under this Agreement, subject to the
terms and conditions of this Paragraph 2.2 and with prior written notice to JHU, and shall provide an unredacted copy of each such sublicense agreement to JHU promptly after it is executed. As a condition to its validity and enforceability, each
sublicense agreement shall: (a) incorporate by reference the terms and conditions of this Agreement, (b) be consistent with the terms, conditions and limitations of this Agreement (including, without limitation, the [***] of rights
in accordance with [***] (c) prohibit [***] of the rights delivered hereunder (without the prior written consent of JHU [***]), (d) name JHU as an intended third party beneficiary of the obligations of SUBLICENSEE without
imposition of obligation or liability on the part of JHU or its Inventors to the SUBLICENSEE, and (e) specifically incorporate [***] into the body of the sublicense agreement, and cause the terms used in therein to have the same meaning
as in this Agreement. To the extent that any terms, conditions or limitations of any sublicense agreement are inconsistent with this Agreement, those terms, conditions and limitations are null and void against JHU, whether or not JHU has
approved the sublicense in writing. 

  
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 2.3 Government Rights. The grants of Paragraph 2.1 are subject to rights
retained by the United States government in accordance with 35 U.S.C. 200-205 and P.L. 96-517, as amended by P.L. 98-620,
codified at 35 U.S.C. 200 et. seq. and implemented according to 37 CFR Part 401. The United States government has acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have
practiced for or on behalf of the United States the use of BIOLOGICAL MATERIALS and the inventions described in PATENT RIGHTS throughout the world. The rights granted herein are additionally subject to: (i) the requirement that any LICENSED
PRODUCT(S) or DEVELOPED PRODUCT(S) produced for use or sale within the United States shall be substantially manufactured in the United States to the extent required under 35 U.S.C. 200-205 and P.L. 96-517, as amended by P.L. 98-620, codified at 35 U.S.C. 200 et. seq. and implemented according to 37 CFR Part 401 (unless a waiver under 35 USC § 204 or equivalent is
granted by the appropriate United States government agency), (ii) the right of the United States government to require JHU, or its licensees, including Company, to grant sublicenses to responsible applicants on reasonable terms when necessary to
fulfill health or safety needs, and, (iii) any other rights acquired by the United States government under the laws and regulations applicable to the grant/contract award under which the inventions were made. 

2.4 Retained Rights. The grants of Paragraph 2.1 are subject to the retained rights of JHU to make, have made, provide and use
for its and the Johns Hopkins Health Systems’ research and educational purposes, products, including products covered by the PATENT RIGHT(S), made, used or developed by JHU using BIOLOGICAL MATERIAL(S) and/or the PATENT RIGHT(S), including the
ability to [***] for nonprofit academic research use [***] as is customary in the scientific community, provided, however, that [***] shall not [***] to any [***]. 

2.5 Conversion of Grant for LICENSED FIELD B. The grants for LICENSED FIELD B in Paragraphs 2.1(a) and 2.1(b)
automatically convert to a non-exclusive non-sublicenseable license during the term of the Agreement in the event that Company (or any successor in interest) elects to discontinue in its entirety its
therapeutic program using the PATENT RIGHT(S) and/or BIOLOGICAL MATERIAL(S). Company agrees to provide to JHU written Notice of a decision to this effect within thirty (30) days of the decision. Upon conversion to a non-exclusive license for LICENSED FIELD B, JHU is free to license the PATENT RIGHT(S) and/or BIOLOGICAL MATERIAL(S) to third party for-profit companies for use in LICENSED
FIELD B. If Company grants any sublicense to a third party in compliance with Paragraph 2.2 prior to the conversion of the grant for LICENSED FIELD B, the third party shall automatically become a direct
non-exclusive licensee of JHU. Company agrees to provide notice to this effect to any then-existing SUBLICENSEE(S) and include this concept in its sublicense agreements for LICENSED FIELD B. 

  
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 2.6 Duration and Conversion of Grant for LICENSED FIELDS A and B. 

 

	(a)	Duration of license grants upon expiration of the TERM in each country: 

  

	 	(i)	The grant in Paragraph 2.1(a) under the PATENT RIGHTS in LICENSED FIELD A and LICENSED FIELD B shall expire; and 

  

	 	(ii)	The grant for the use of the BIOLOGICAL MATERIALS in LICENSED FIELD A and LICENSED FIELD B in Paragraphs 2.1(a) and 2.1(b) (unless previously converted to nonexclusive pursuant to Paragraph 2.5), shall continue to be
exclusive and sublicensable for DEVELOPED PRODUCTS under Paragraph 2.1(b) (unless converted to nonexclusive pursuant to Paragraph 2.5) until the expiration of the Developed Product Royalty Period. 

(b) Upon conversion of both licenses under Paragraph 2.1(a) and 2.1(b) to non-exclusive licenses for LICENSED FIELDS A
and B, JHU is free to license BIOLOGICAL MATERIAL(S) to third party for-profit companies for use in either LICENSED FIELDS A and B. 

(c) If Company grants any sublicense to a third party in compliance with Paragraph 2.2 prior to the conversion of the grants under Paragraphs 2.1(a) and 2.1(b)
for both LICENSED PRODUCTS and DEVELOPED PRODUCTS in LICENSED FIELD A and B to nonexclusive under this Paragraph 2.6, the sublicense granted to such third party shall survive until expiration of this Agreement. Company agrees to notify any
SUBLICENSEE of any conversion of its license to nonexclusive. 
 ARTICLE 3 

FEES, ROYALTIES, PAYMENTS & EQUITY 

3.1 License Fees. 
  

	 	(a)	Company shall pay to JHU a license fee as set forth in Exhibit A within thirty (30) days of the EFFECTIVE DATE of this Agreement. This license fee is nonrefundable and shall not be credited against royalties
or other fees. 

  

	 	(b)	Company shall pay to JHU an amendment fee as set forth in Exhibit A within thirty (30) days of the RESTATEMENT DATE of this Agreement. This amendment fee is nonrefundable and shall not be credited against
royalties or other fees. 

 3.2 Minimum Annual Royalties. Company shall pay to JHU minimum annual royalties as
set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties on NET REVENUES of
LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) accrued under Paragraph 3.3 and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

					
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 3.3 Running Royalties. Company shall pay to JHU a running royalty as set forth
in Exhibit A for each LICENSED PRODUCT(S) and for each DEVELOPED PRODUCT(S) sold or provided, by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) for use in LICENSED FIELD A and LICENSED FIELD B, based on NET REVENUES for the term of this
Agreement. Such payments shall be made within [***] end of each calendar quarter following FIRST COMMERCIAL SALE of LICENSED PRODUCT(S) and/or DEVELOPED PRODUCT(S). All non-US taxes related to LICENSED
PRODUCT(S) and/or DEVELOPED PRODUCT(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. 

(a) The running royalty obligations for the sale of LICENSED PRODUCT(S) with respect to NET REVENUES in LICENSED FIELD A and LICENSED FIELD B
shall commence on the date of FIRST COMMERCIAL SALE of LICENSED PRODUCT intended for use in either LICENSED FIELD A or LICENSED FIELD B in a given country and shall continue, on a
country-by-country basis, until the expiration of the last to expire of any PATENT RIGHT(S) issued in that country covering the LICENSED PRODUCT(S) unless otherwise
officially extended under applicable patent term extension (“Licensed Product Royalty Period”). 
 (b) The running royalty
obligations for the sale of DEVELOPED PRODUCT(S) with respect to NET REVENUES in LICENSED FIELD A and LICENSED FIELD B shall commence on the date of FIRST COMMERCIAL SALE of DEVELOPED PRODUCT intended for use in either LICENSED FIELD A or LICENSED
FIELD B in a given country and shall continue for ten (10) years from the FIRST COMMERCIAL SALE of any DEVELOPED PRODUCT anywhere in the world in each field (“Developed Product Royalty Period”). DEVELOPED PRODUCT intended for
use in either LICENSED FIELD A or LICENSED FIELD B launched by Company, AFFILIATED COMPANY or SUBLICENSEE(S) after expiration of the PATENT RIGHTS is subject to the running royalties in this subsection (b). 

(c) For clarity, as provided for in Exhibit A, to the extent that Company’s marketed products intended for use in LICENSED FIELD A
and LICENSED FIELD B are LICENSED PRODUCT(S) that would, except for such product’s inclusion as LICENSED PRODUCT, be a DEVELOPED PRODUCT(S) during the term of the PATENT RIGHT(S), Company agrees to pay to JHU the running royalty attributed to
LICENSED PRODUCT(S) as indicated in Exhibit A until expiration of the Licensed Product Royalty Period. Thereafter, Company agrees that the running royalty as indicated in Exhibit A applicable to DEVELOPED PRODUCT(S) intended for use in either
LICENSED FIELD A or LICENSED FIELD B would apply until the end of the Developed Product Royalty Period, starting from the FIRST COMMERCIAL SALE of such product as a LICENSED PRODUCT in each field. 

(d) Should Company be required to pay running royalties on any [***] Company shall be entitled to [***] provided that the running
royalties payable to JHU shall not [***] for that LICENSED PRODUCT or DEVELOPED PRODUCT. 
 (e) In no instance shall the running
royalty calculated from NET REVENUES [***] and royalty rate due to JHU under this Paragraph 3.3 [***]. 
 (f) Company
acknowledges that its agreement to make payments to JHU under this Paragraph 3.3 regarding rights and/or products that are not: (i) included under PATENT RIGHT(S), or, (ii) a LICENSED PRODUCT(S), has been made for purposes of its own
convenience, to be paid hereunder in lieu of other payments as might have otherwise been required to be paid for the license of the rights delivered hereunder. 

  
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 (g) In the event that more than one claim within the PATENT RIGHT(S) is applicable to any
LICENSED PRODUCT in either LICENSED FIELD A or LICENSED FIELD B and is subject to royalties under this Paragraph 3.3, then only one royalty shall be paid to JHU with respect to such LICENSED PRODUCT as indicated in Exhibit A. The higher
royalty shall be paid in this instance. It is understood that royalties shall only be payable under this Paragraph 3.3 with respect to LICENSED PRODUCT(S) whose manufacture, sale or use would infringe a claim in the country for which such LICENSED
PRODUCT is manufactured or sold. In no event shall more than one royalty be due hereunder with respect to any LICENSED PRODUCT in either LICENSED FIELD A or LICENSED FIELD B, regardless of whether such LICENSED PRODUCT is, incorporates or is derived
from any BIOLOGICAL MATERIAL(S). A royalty shall not be payable under Paragraph 3.3 with respect to sales of LICENSED PRODUCT(S) for use in clinical trials. 

3.4 Arms-Length Transactions. In order to ensure JHU the full royalty payments contemplated hereunder, Company agrees that in the
event any LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) shall be sold or transferred to AFFILIATED COMPANIES or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with
respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED
PRODUCT(S) or DEVELOPED PRODUCT(S) shall be based upon [***]. 
 3.5 Milestone Payments. Company shall pay to JHU the one-time milestone payments as set forth in Exhibit A within thirty (30) days of achievement of each milestone-triggering event in a MAJOR MARKET. In the event that a Phase II clinical trial is conducted
at JHU, Company [***] Company agrees that it will pay the accrued Phase II milestone payment when it submits the accrued Phase III milestone payment to JHU. For clarity, to the extent that any Company products in development in LICENSED FIELD
A are LICENSED PRODUCT(S) which, except for such product’s inclusion as LICENSED PRODUCT, would be a DEVELOPED PRODUCT(S) during the term of the PATENT RIGHT(S), Company agrees to pay to JHU milestone payments attributed to LICENSED PRODUCT(S)
until expiration of the last to expire of any PATENT RIGHT(S). Thereafter, Company agrees that with respect to such product, the milestone payments attributed to DEVELOPED PRODUCTS will be paid by Company as subsequent milestones are met. 

3.6 Sublicense Consideration. Company shall pay to JHU sublicense consideration that Company receives for execution of a
sublicense agreement as identified in Exhibit A of this Agreement. Such sublicense consideration shall mean consideration of any kind received by Company or AFFILIATED COMPANIES from a SUBLICENSEE(S) for the grant of a sublicense including
transactions related to the development and manufacture of LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) such as including but not limited to licensing or sublicensing fees and milestone payments, any premium received on equity investments above fair
market value for stock in Company or AFFILIATED COMPANIES that is directly 

  
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attributable to a LICENSED PRODUCT or DEVELOPED PRODUCT and any other sublicensing revenue received in consideration of such sublicense. However, not included in such sublicense consideration are
amounts paid to Company by a SUBLICENSEE(S) for running royalty on LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S), product development, payments for research and/or development contracts, clinical studies and regulatory approvals performed by or for
the Company or AFFILIATED COMPANIES (including third parties on their behalf), each pursuant to a specific agreement [***]. If any sublicense agreement includes a grant to intellectual property rights owned or controlled by Company
other than the PATENT RIGHT(S) or the BIOLOGICAL MATERIALS, then Company may [***] any consideration received from a SUBLICENSEE under such a sublicense agreement between any such other intellectual property and the [***] under the
PATENT RIGHT(S) or the BIOLOGICAL MATERIALS, subject to [***]. 
 3.7 Patent Reimbursement. During the term of
this Agreement, Company will reimburse JHU for the reasonable past and ongoing costs of preparing, filing, maintaining and prosecuting the PATENT RIGHT(S) exclusively licensed to Company. Company shall reimburse JHU such costs within [***] of
receipt of invoice from JHU. Past patent expenses for PATENT RIGHT(S) are identified and totaled in Exhibit E of this Agreement. JHU will provide to Company a copy of charges incurred for patent prosecution of PATENT RIGHT(S) after execution
of this Agreement. 
 3.8 Equity. As partial consideration for the grants under Paragraph 2.1, the Company shall issue
to JHU and the Inventors within sixty (60) days of the EFFECTIVE DATE of this Agreement 111,111 shares (representing [***] of the total shares of Company which were issued or reserved for issuance prior to the Company’s first equity
financing [***]) of the Company’s common stock as follows: 
  

	 	•	 	[***] shares will be issued to [***] 

  

	 	•	 	[***] shares will be issued to [***] 

  

	 	•	 	[***] shares will be issued to [***] 

  

	 	•	 	[***] shares will be issued to [***] 

 Such shares shall be issued pursuant to customary Stock
Issuance Agreements in substantially the form attached hereto as Exhibit F. The equity interests granted under this Paragraph 3.8 shall be diluted at the same rate as the founders’ and any other issued common stock
through subsequent rounds of equity financing. 
 3.9 Participation Rights. If the Company proposes to sell any equity
securities or securities that are convertible into equity securities of the Company (collectively, “Equity Securities”) in a bona fide financing transaction for capital raising purposes, then JHU and/or its Assignee (as defined below) will
have the right to purchase up to that portion of the Equity Securities issued by the Company in such Financing that equals the ratio of (i) the number of shares of the Company’s common stock owned by JHU immediately prior to such issuance
of Equity Securities (assuming full conversion of all shares of the Company’s preferred stock owned by JHU into common stock and full conversion or exercise, as applicable, of all 

  
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outstanding convertible securities, rights, options and warrants held by JHU) to (ii) the total number of shares of the Company’s common stock outstanding immediately prior to the
issuance of Equity Securities (assuming full conversion of all shares of the Company’s preferred stock into common stock and full conversion or exercise, as applicable, of all outstanding convertible securities, rights, options and warrants and
all securities reserved for issuance under the Company’s stock plans) (the “Participation Rights”). The term “Assignee” means (a) any entity to which the JHU’s Participation Rights have been assigned, with
prior notice to the Company, either by JHU or another entity; provided, that JHU or another entity may not assign JHU’s Participation Rights to a competitor of the Company, or (b) any entity that is controlled by JHU. 

Notwithstanding the foregoing, Equity Securities shall not include any shares of capital stock of the Company excluded from the definition of
New Securities set forth in that certain Investors’ Rights Agreement dated as of December 7, 2012, as may be amended from time to time (the “Rights Agreement”), by the Board of Directors of the Company (including any specific
director consent required pursuant to the terms of the Rights Agreement). 
 The Participation Rights set forth in this Paragraph 3.9 shall
terminate upon and shall not be applicable to (i) the Company’s Qualified IPO (as defined in Article V, Paragraph 4(b) of the Company’s certificate of incorporation (as may be amended from time to time) and (ii) a Liquidation
Event (as defined in Article V, Paragraph 3(e) of the Company’s certificate of incorporation (as may be amended from time to time; provided, however, Participation Rights may only be modified with written consent from JHU). 

3.10 Form of Payment. All payments under this Agreement shall be made in U.S. Dollars by either check or wire transfer as
provided for in Paragraph 3.11 below. 
 3.11 Payment Information. All check payments from Company to JHU shall be sent to:

 [***] 
 or such other addresses which
JHU may designate in writing from time to time. Checks are to be made payable to [***]. 
 Wire transfers may be made through: 

[***] 
 Company shall be
responsible for any and all costs associated with wire transfers. Company shall provide JHU with the date of wire transfer payment and ACH confirmation number upon completion of such payment. 

3.12 Late Payments. In the event that any payment due hereunder is not made when due, the payment shall accrue interest beginning
[***] the due date thereof, calculated at the annual rate [***]. Each such payment when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not negate or waive the
right of JHU to seek any other remedy, legal or equitable, to which it may be entitled because of the delinquency of any payment including, but not limited to termination of this Agreement as set forth in Paragraph 9.2. 

  
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 3.13 Invoices. Any invoice for payments sent by JHU to Company may be
electronically provided by e-mail service. JHU will send invoices to an e-mail address provided by Company. Company will provide JHU with any updates to this e-mail address. 
 ARTICLE 4 

PATENT PROSECUTION, MAINTENANCE, & INFRINGEMENT 

4.1 Prosecution & Maintenance. JHU, at Company’s expense, shall file, prosecute and maintain all
patents and patent applications specified under PATENT RIGHT(S) and, subject to the terms and conditions of this Agreement, Company shall be licensed thereunder. Title to all such patents and patent applications shall reside in JHU. JHU shall have
full and complete control over all patent matters in connection therewith under the PATENT RIGHT(S), provided however, that JHU shall (a) cause its patent counsel to timely copy Company on all official actions and written correspondence with
any patent office, and (b) allow Company an opportunity to comment and advise JHU. JHU shall consider and reasonably incorporate all such comments and advice. By concurrent written notification to JHU and its patent counsel at least [***]
in advance (or later at JHU’s discretion) of any filing or response deadline, or fee due date, Company may elect not to have a patent application filed in any particular country or not to pay expenses associated with prosecuting or
maintaining any patent application or patent, provided that Company pays for all costs incurred up to JHU’s receipt of such notification. Failure to provide such notification can be considered by JHU to be Company’s authorization to
proceed at Company’s expense. Upon such notification, JHU may file, prosecute, and/or maintain such patent applications or patent at its own expense and for its own benefit, and any rights or license granted hereunder held by Company,
AFFILIATED COMPANIES or SUBLICENSEE(S) relating to the PATENT RIGHT(S) which comprise the subject of such patent applications or patent and/or apply to the particular country, shall terminate. 

4.2 Notification. Each party will notify the other promptly in writing when any infringement of the PATENT RIGHT(S) in
LICENSED FIELD A or LICENSED FIELD B by any third party is [***]. 
 4.3 Infringement. [***] shall have the first
right to enforce any patent within PATENT RIGHT(S) against any infringement or alleged infringement thereof for LICENSED FIELD A and for LICENSED FIELD B, but only for [***] for [***], and shall at all times keep [***] informed
as to the status thereof. Before [***] commences an action with respect to any infringement of any patent within the PATENT RIGHT(S), [***] shall give careful consideration to [***] and to [***] in making its decision
whether or not to sue. Thereafter, [***] institute suit against any such infringer or alleged infringer and control and defend such suit in a manner consistent with the terms and provisions hereof and recover any damages, awards or
settlements resulting therefrom, subject to Paragraph 4.5. However [***] This right to sue for infringement shall not be used in [***] shall reasonably cooperate in any such litigation [***]. 

  
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 If [***] elects not to enforce any patent within the PATENT RIGHT(S), then it shall so
notify [***] in writing within [***] of receiving notice that an infringement exists, and [***] may after receipt of such notice, [***] and [***] take steps to enforce any patent and control, settle, and defend
such suit in a manner consistent with the terms and provisions hereof, and recover, for its own account, any damages, awards or settlements resulting therefrom. 

4.4 Patent Invalidity Suit. If a declaratory judgment action is brought naming [***] as a defendant and alleging
invalidity of any of the PATENT RIGHT(S), [***] may [***] shall cooperate [***] in connection with any such action. 

4.5 Recovery. Any recovery by [***] under Paragraph 4.3 shall be deemed to reflect [***], and [***] shall
[***] of the [***] associated with each suit or settlement[***] then [***] shall be [***] by [***] hereunder in connection with [***] which are the subject of the infringement suit [***]
provided, however, that any [***] under this Paragraph 4.5 shall not [***] with regard to [***] with any [***]. 

ARTICLE 5 
 OBLIGATIONS
OF THE PARTIES 
 5.1 Reports. Company shall provide to JHU the following written reports according to the following
schedules. 
 (a) Until Company, an AFFILIATED COMPANY or a SUBLICENSEE(S) has achieved a FIRST COMMERCIAL SALE of a LICENSED PRODUCT or
DEVELOPED PRODUCT, Company shall provide [***] Reports, due within [***] of the end of [***] following the EFFECTIVE DATE of this Agreement. These [***] Reports shall describe Company’s, AFFILIATED COMPANIES’,
or any SUBLICENSEE(S)’ [***] efforts towards meeting its obligations under the terms of this Agreement, including in any report [***] an [***]. 

(b) Upon achieving a FIRST COMMERCIAL SALE of a LICENSED PRODUCT or DEVELOPED PRODUCT, Company shall provide [***] Royalty Reports,
substantially in the format of Exhibit B, accompanying each running royalty payment under Paragraph 3.3 of this Agreement. Royalty Reports shall disclose the amount of LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) sold, the total NET REVENUES
of such LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S), and the running royalties due to JHU as a result of NET REVENUES by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) thereof. 

(c) Company shall provide Annual Reports within [***] of the end of every December following the EFFECTIVE DATE of this Agreement.
Annual Reports shall include: 
 (i) [***] as required under Paragraph 10.4 [***] 

(ii) identification of [***] which have [***] pursuant to [***] 

(iii) notice of all [***] under this Agreement upon which [***] and the [***]; and 

(iv) notification of [***] that relates to this Agreement, if not previously provided to [***]. 

  
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 (d) In lieu of sending reports to JHU via mail or via courier under this Paragraph 5.1,
Company may electronically submit all required reports to an e-mail address specified by JHU. 

5.2 Records. Company shall make and retain, for a period of three (3) years following the period of each report required by
Paragraph 5.1, true and accurate records, files and books of account containing all the data reasonably required for the full computation and verification of sales and other information required in Paragraph 5.1. Such books and records shall be in
accordance with generally accepted accounting principles consistently applied. Company shall permit the inspection and copying of such records, files and books of account by JHU or its agents during regular business hours upon [***] written
notice to Company. Such inspection shall not be made more than [***] All costs of such inspection and copying shall be [***], provided that if any such inspection shall [***] such costs shall be borne by [***]. As a
condition to entering into any such agreement, Company shall include in any agreement with its AFFILIATED COMPANIES or its SUBLICENSEE(S) which permits such party to make, use, sell or import the LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S), a
provision requiring such party to retain records of sales of LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) and other information as required in Paragraph 5.1 and permit JHU to inspect such records as required by this Paragraph 5.2. 

5.3 Diligence Milestones: Company will use [***] to [***] and [***] LICENSED PRODUCT and/or DEVELOPED
PRODUCT derived from the PATENT RIGHT(S) and/or BIOLOGICAL MATERIAL(S) in the TERRITORY in the LICENSED FIELD A. [***] may be demonstrated by [***] of the milestones listed below or by the [***] of LICENSED PRODUCT(S) or
DEVELOPED PRODUCT(S) [***]. If Company [***] fails to use [***] to meet any milestone under this Paragraph 5.3 or fails to pay any milestone payment under Paragraph 3.5, JHU shall have the right but not the obligation of
termination and shall work with the Company or its AFFILIATED COMPANIES or SUBLICENSEE(S) [***]. 
 5.4 Other Products.
After [***] provided in writing by [***], demonstrating the [***] of a [***] which is not being [***] Company shall [***] with a [***] and [***] or attempt to [***] the [***]
or [***] If Company is [***] to [***] a [***] or to [***] for which there is [***] Company will [***] If within [***] of such notification [***] has not initiated such [***]
may [***]. 
 5.5 Patent Acknowledgement. Company agrees that all packaging containing individual LICENSED
PRODUCT(S) sold by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) of Company will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s patent laws. 

5.6 Deliverable(s). Company received BIOLOGICAL MATERIAL(S) under the Option Agreement. Company agrees that it has adequate
supply of BIOLOGICAL MATERIAL(S) to fulfill its obligations under this Agreement and will take steps to maintain its supply of BIOLOGICAL MATERIAL(S) during the term of this Agreement. JHU is not obligated to provide additional quantities of
BIOLOGICAL MATERIAL(S) upon execution of this Agreement or thereafter during the term of this Agreement. 

  
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 ARTICLE 6 

REPRESENTATIONS 

6.1 Duties of the Parties. JHU is not a commercial organization. It is an institute of research and education. Therefore,
JHU has no ability to evaluate the commercial potential of any PATENT RIGHT(S), LICENSED PRODUCT, DEVELOPED PRODUCT or other license or rights granted in this Agreement. It is therefore incumbent upon Company to evaluate the rights and products in
question, to examine the materials and information provided by JHU, and to determine for itself the validity of any PATENT RIGHT(S), its freedom to operate, and the value of any LICENSED PRODUCT(S) or other rights granted. 

6.2 Representations by JHU. JHU warrants that it has good and marketable title to its interest in the inventions claimed under
PATENT RIGHT(S) and BIOLOGICAL MATERIAL(S) with the exception of certain retained rights of the United States Government, which may apply if any part of the JHU research was funded in whole or in part by the United States Government. JHU does not
warrant the validity of any patents or that practice under such patents or use of such material shall be free of infringement. EXCEPT AS EXPRESSLY SET FORTH IN THIS PARAGRAPH 6.2, COMPANY AGREES THAT THE PATENT RIGHT(S) AND BIOLOGICAL MATERIAL(S)
ARE PROVIDED “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF BIOLOGICAL MATERIAL(S), LICENSED PRODUCT(S) AND DEVELOPED PRODUCT(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY,
OR WITH RESPECT TO THEIR UTILITY IN MAKING A DEVELOPED PRODUCT(S) OR THE USEFULNESS OF SUCH A DEVELOPED PRODUCT(S). JHU DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES,
EXPRESSED OR IMPLIED, OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS, FOR DAMAGES,
INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL, AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN
CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S) LICENSED UNDER THIS AGREEMENT. AS BETWEEN THE PARTIES, COMPANYASSUMES ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT MANUFACTURED, USED, OR SOLD BY COMPANY, ITS
SUBLICENSEE(S) AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S) OR A DEVELOPED PRODUCT(S) AS DEFINED IN THIS AGREEMENT. 

					
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 ARTICLE 7 

INDEMNIFICATION 

7.1 Indemnification. JHU and the Inventors would have no legal liability exposure to third parties if JHU does not
license the LICENSED PRODUCT(S) or otherwise itself distribute, use or sell such LICENSED PRODUCT(S), and any royalties JHU and Inventors may receive is not adequate compensation for such legal liability exposure. Therefore, JHU requires Company to
protect JHU and Inventors from such exposure. Furthermore, JHU and the Inventors will not, under the provisions of this Agreement or otherwise, have control over the manner in which Company or its AFFILIATED COMPANIES or its SUBLICENSEE(S) or those
operating for its account or third parties who purchase LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) from any of the foregoing entities, develop, manufacture, market or practice the inventions of LICENSED PRODUCT(S), and DEVELOPED PRODUCT(S). Company
and its AFFILIATED COMPANY shall indemnify, defend with counsel reasonably acceptable to JHU, and hold JHU, The Johns Hopkins Health Systems, their present and former trustees, officers, Inventors of PATENT RIGHT(S) and BIOLOGICAL MATERIAL(S),
agents, faculty, employees and students harmless as against any judgments, fees, expenses, or other costs arising from or incidental to any product liability or other lawsuit, claim, demand or other action brought as a consequence of the practice of
said inventions by any of the foregoing entities, whether or not JHU or said Inventors, either jointly or severally, is named as a party defendant in any such lawsuit and whether or not JHU or the Inventors are alleged to be negligent or otherwise
responsible for any injuries to persons or property. Company shall not be obligated to indemnify JHU for any liability or damages caused solely by JHU’s medical malpractice when JHU uses the LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S). Practice
of the inventions covered by LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S), by an AFFILIATED COMPANY or an agent or a SUBLICENSEE(S) or a third party on behalf of or for the account of Company or by a third party who purchases LICENSED PRODUCT(S) or
purchases or licenses DEVELOPED PRODUCT(S) from Company, shall be considered Company’s practice of said inventions for purposes of this Paragraph 7.1. The obligation of Company to defend and indemnify as set out in this Paragraph 7.1 shall
survive the termination of this Agreement, shall continue even after assignment of rights and responsibilities to an AFFILIATED COMPANY or SUBLICENSEE, and shall not be limited by any other limitation of liability elsewhere in this Agreement.
 
 ARTICLE 8 

CONFIDENTIALITY 

8.1 Confidentiality. If necessary, the parties will exchange information relating to the PATENT RIGHT(S), BIOLOGICAL
MATERIAL(S), LICENSED PRODUCT(S) and DEVELOPED PRODUCTS(S), as well as information related to the Company’s research, business plans and financial information, which they consider to be confidential. The recipient of such information agrees to
accept the disclosure of said information, and to employ all reasonable efforts to maintain the information secret and confidential, such efforts to be no less than the degree of care employed by the recipient to preserve and safeguard its own
confidential information. The information shall not be disclosed or revealed to anyone except employees of the recipient who have a need to know the information and who have entered into a secrecy agreement with the recipient under which such
employees are required to maintain confidential the proprietary information of the recipient and such employees shall be advised by the recipient of the confidential nature of the information and that the information shall be treated accordingly.

					
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 The obligations of this Paragraph 8.1 shall also apply to AFFILIATED COMPANIES and/or
SUBLICENSEE(S) provided such information by Company. JHU’s, Company’s, AFFILIATED COMPANIES’ and SUBLICENSEE(S)’ obligations under this Paragraph 8.1 shall extend until three (3) years after the expiration or termination of
this Agreement. 
 8.2 Exceptions. The recipient’s obligations under Paragraph 8.1 shall not extend to any part of the
information: 
  

	 	a.	that can be demonstrated to have been in the public domain or publicly known and readily available to the trade or the public prior to the date of the disclosure; 

 

	 	b.	that can be demonstrated, from written records to have been in the recipient’s possession or readily available to the recipient from another source not under obligation of secrecy to the disclosing party prior to
the disclosure; 

  

	 	c.	that becomes part of the public domain or publicly known by publication or otherwise, not due to any unauthorized act by the recipient; 

 

	 	d.	that is demonstrated from written records to have been developed by or for the receiving party without reference to confidential information disclosed by the disclosing party; or 

 

	 	e.	that is required to be disclosed by law, government regulation or court order. 

 8.3
Right to Publish. JHU may publish manuscripts, abstracts or the like describing the PATENT RIGHT(S) and inventions contained therein and BIOLOGICAL MATERIAL(S) provided confidential information of Company, as defined in Paragraph 8.1, is not
included or without first obtaining approval from Company to include such confidential information. Otherwise, JHU and the Inventors shall be free to publish manuscripts and abstracts or the like directed to the work done at JHU related to the
licensed technologies without prior approval. 

					
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 ARTICLE 9 

TERM & TERMINATION 

9.1 Term. The term of this Agreement shall commence on the EFFECTIVE DATE and shall continue, in each country, until the later
of: (i) date of expiration of the last to expire patent included within PATENT RIGHT(S) in that country and (ii) the expiration of all of Company’s payment obligations under this Agreement (the “TERM”). 

9.2 Termination by Either Party. This Agreement may be terminated by either party, in the event that the other party
(a) files or has filed against it a petition under the Bankruptcy Act, makes an assignment for the benefit of creditors, has a receiver appointed for it or a substantial part of its assets, or otherwise takes advantage of any statute or law
designed for relief of debtors or (b) fails to perform or otherwise materially breaches any of its obligations hereunder, if, following the giving of notice by the terminating party of its intent to terminate and stating the grounds therefor,
the party receiving such notice shall not have cured the failure or breach within [***]. In no event, however, shall such notice or intention to terminate be deemed to waive any rights to damages or any other remedy, which the party
giving notice of breach may have as a consequence of such failure or breach. 
 9.3 Termination by Company. Company may
terminate this Agreement and the licenses granted herein, for any reason, upon giving JHU ninety (90) days written notice in accordance with Paragraph 10.6 of this Agreement. 

9.4 Obligations and Duties upon Termination or Expiration. If this Agreement is terminated or expired, both parties shall be
released from all obligations and duties imposed or assumed hereunder to the extent so terminated or expired, except as expressly provided to the contrary in this Agreement. Upon termination or expiration, both parties shall cease any further use of
the confidential information disclosed to the receiving party by the other party. Termination or expiration of this Agreement, for whatever reason, shall not affect the obligation of either party to make any payments for which it is liable prior to
or upon such expiration or termination. Expiration or termination shall not affect JHU’s right to recover unpaid royalties, fees, reimbursement for patent expenses, or other forms of financial compensation incurred prior to expiration or
termination. 
 (a) Upon expiration or termination, Company shall submit any accrued royalty payments for LICENSED PRODUCT(S) or DEVELOPED
PRODUCT(S) with royalty reports under Paragraph 5.1(b), accrued fees, unreimbursed patent expenses and other accrued financial compensation due to JHU shall become immediately payable. 

(b) Upon expiration or termination of this Agreement, all BIOLOGICAL MATERIAL(S) shall be returned to Inventors or destroyed with certification
of destruction provided to JHU by Company, except that on expiration (but not earlier termination) of this Agreement, Company shall not have any obligation to destroy any BIOLOGICAL MATERIAL(S) that are incorporated in any DEVELOPED PRODUCT(S) then
being marketed or sold by Company, AFFILIATED COMPANIES or any SUBLICENSEE(S). Furthermore, upon expiration or termination of this Agreement, all rights in and to the licensed technology including PATENT RIGHT(S) and BIOLOGICAL MATERIAL(S) shall
revert immediately to 

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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JHU at no cost to JHU, except that on expiration (but not earlier termination) of this Agreement, Company shall retain a non-exclusive, royalty-free, paid-up license with respect to any BIOLOGICAL MATERIAL(S) that are incorporated in any DEVELOPED PRODUCT(S) then being marketed or sold by Company, AFFILIATED COMPANIES or any SUBLICENSEE. 

 
 (c) Upon termination of this Agreement, any SUBLICENSEE(S) shall become a
direct licensee of JHU, provided that JHU’s obligations to SUBLICENSEE(S) are no greater than JHU’s obligations to Company under this Agreement and SUBLICENSEE(S) will have no obligation to pay any amounts to JHU in excess of the amounts
that would have been due to JHU by Company under this Agreement. Company shall provide written notice of termination of the Agreement to each SUBLICENSEE(S) with a copy of such notice provided to JHU. 

9.5 Obligation regarding DEVELOPED PRODUCT(S). Expiration or termination of this Agreement shall not affect Company’s,
AFFILIATED COMPANIES’, Company’s licensee’s or SUBLICENSEE’s obligation under Paragraph 3.3(c) to pay royalties to JHU on DEVELOPED PRODUCT(S) and provide royalty reports to JHU under Paragraph 5.1(b) for any sales prior to the
conclusion of the Developed Product Royalty Period. Such obligation will survive expiration or termination of this Agreement. 
 ARTICLE
10 
 MISCELLANEOUS 

10.1 Use of Name. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall not use the name of The Johns Hopkins University or The
Johns Hopkins Health System or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction thereof or the name of Inventors in any advertising, promotional, sales literature or fundraising documents without prior written
consent from an authorized representative of JHU. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall allow at least seven (7) business days’ notice of any proposed public disclosure for JHU’s review and comment or to provide
written consent. 
 10.2 No Partnership. Nothing in this Agreement shall be construed to create any agency, employment,
partnership, joint venture or similar relationship between the parties other than that of a licensor/licensee. Neither party shall have any right or authority whatsoever to incur any liability or obligation (express or implied) or otherwise act in
any manner in the name or on the behalf of the other, or to make any promise, warranty or representation binding on the other. 
 10.3
Notice of Claim. Each party shall give the other or its representative immediate notice of any suit or action filed, or prompt notice of any claim made, against them arising out of the performance of this Agreement or arising out of the
practice of the inventions licensed hereunder. 

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 10.4     Product Liability Insurance. Prior to [***]
or [***] as the case may be [***], Company shall establish and maintain, [***] in which Company [***] shall test or sell LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S), product liability or other appropriate insurance
coverage in the minimum amount of [***] per claim and will [***] present evidence to JHU that such coverage is being maintained. Company will furnish JHU with [***] product liability insurance policy
obtained.     JHU shall be [***] If such Product Liability insurance is underwritten on a [***] basis, Company agrees that [***] during the term of this Agreement will require the [***] to ensure that
[***] of this Agreement. 
 10.5 Governing Law. This Agreement shall be construed, and legal relations between the
parties hereto shall be determined, in accordance with the laws of [***] applicable to contracts solely executed and wholly to be performed within [***] without giving effect to the principles of conflicts of law. Any disputes between
the parties to this Agreement shall be brought in [***]. Both parties agree to waive their right to a jury trial. 
 10.6
Notice. All notices or communication required or permitted to be given by either party hereunder shall be deemed sufficiently given if mailed by registered mail or certified mail, return receipt requested, or sent by overnight courier, such
as Federal Express, to the other party at its respective address set forth below or to such other address as one party shall give notice of to the other from time to time hereunder (“Notice”). Mailed notices shall be deemed to be received
on the third business day following the date of mailing. Notices sent by overnight courier shall be deemed received the following business day. 
  

			
	If to Company:	  	Allakos, Inc.
		  	75 Shoreway Road, Suite A
		  	San Carlos, CA 94070
		  	[***]
		
	If to JHU:	  	[***]

 10.7 Compliance with All Laws. In all activities undertaken pursuant to this Agreement, both JHU
and Company covenant and agree that each will in all material respects comply with such Federal, state and local laws and statutes, as may be in effect at the time of performance and all valid rules, regulations and orders thereof regulating such
activities. 
 10.8 Successors and Assigns. Neither this Agreement nor any of the rights or obligations created herein, except
for the right to receive any remuneration hereunder, may be assigned by either party, in whole or in part, without the prior written consent of the other party, except that either party shall be free to assign this Agreement in connection with any
sale of substantially all of its assets without the consent of the other. Such assignment shall be subject to [***]. This Agreement shall bind and inure to the benefit of the successors and permitted assigns of the parties hereto. 

10.9 No Waivers; Severability. No waiver of any breach of this Agreement shall constitute a waiver of any other breach of the
same or other provision of this Agreement, and no waiver shall be effective unless made in writing. Any provision hereof prohibited by or unenforceable under any applicable law of any jurisdiction shall, as to such jurisdiction, be deemed
ineffective and deleted herefrom without affecting any other provision of this 

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 Agreement. It is the desire of the parties hereto that this Agreement be enforced to the maximum extent
permitted by law, and should any provision contained herein be held by any governmental agency or court of competent jurisdiction to be void, illegal and unenforceable, the parties shall negotiate in good faith for a substitute term or provision
which carries out the original intent of the parties. 
 10.10 Entire Agreement; Amendment. Company and JHU acknowledge that
they have read this entire Agreement and that this Agreement, including the attached Exhibits, constitutes the entire understanding and contract between the parties hereto and supersedes any and all prior or contemporaneous oral or written
communications with respect to the subject matter hereof, all of which communications are merged herein. It is expressly understood and agreed that (i) there being no expectations to the contrary between the parties hereto, no usage of trade,
verbal agreement or another regular practice or method dealing within any industry or between the parties hereto shall be used to modify, interpret, supplement or alter in any manner the express terms of this Agreement; and (ii) this Agreement
shall not be modified, amended or in any way altered except by an instrument in writing signed by both of the parties hereto. 
 10.11
Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to any party hereto, shall impair any such right, power or remedy to such party nor shall it be construed to be a
waiver of any such breach or default, or an acquiescence therein, or in any similar breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or
character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set
forth in such writing. All remedies either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

10.12 Force Majeure. If either party fails to fulfill its obligations hereunder (other than an obligation for the payment of
money), when such failure is due to an act of God, or other circumstances beyond its reasonable control, including but not limited to fire, flood, civil commotion, riot, war (declared and undeclared), revolution, or embargoes, then said failure
shall be excused for the duration of such event and for such a time thereafter as is reasonable to enable the parties to resume performance under this Agreement, provided however, that in no event shall such time extend for a period of more than one
hundred eighty (180) days. 
 10.13 Further Assurances. Each party shall, at any time, and from time to time, prior to or
after the EFFECTIVE DATE of this Agreement, at reasonable request of the other party, execute and deliver to the other such instruments and documents and shall take such actions as may be required to more effectively carry out the terms of this
Agreement. 

					
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 10.14 Survival. All representations, warranties, covenants and agreements made
herein and which by their express terms or by implication are to be performed after the execution and/or termination hereof, or are prospective in nature, shall survive such execution and/or termination, as the case may be. This shall include
Paragraphs 3.10 (Late Payments), 5.2 (Records), 9.5 (Obligation regarding DEVELOPED PRODUCT(S)) and Articles 6, 7, 8, 9, and 10. 

10.15 No Third Party Beneficiaries. Nothing in this Agreement shall be construed as giving any person, firm, corporation or other
entity, other than the parties hereto and their successors and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof. 

10.16 Headings. Article headings are for convenient reference and are not a part of this Agreement. All Exhibits are incorporated
herein by this reference. 
 10.17 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original and all of which when taken together shall be deemed but one instrument. 
 [REST OF PAGE INTENTIONALLY LEFT BLANK] 

					
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 IN WITNESS WHEREOF, this Agreement shall take effect as of the EFFECTIVE DATE when it has
been executed below, by the duly authorized representatives of the parties. 
  

					
	THE JOHNS HOPKINS UNIVERSITY	  		  	ALLAKOS INC.
			
	     /s/ Neil Veloso
	  		  	     /s/ Chris Bebbington

	Neil Veloso	  		  	Christopher Bebbington
	Executive Director, Johns Hopkins Technology Transfer Johns Hopkins Technology Ventures	  		  	President & CEO
			
	     10/14/2016
	  		  	     10/14/2016

	(Date)	  		  	(Date)

  

			
	EXHIBIT A.	  	LICENSE FEES, ROYALTIES, PAYMENTS & EQUITY UNDER ARTICLE 3
		
	EXHIBIT B.	  	[***] ROYALTY REPORT FORM UNDER PARAGRAPH 5.1(b)
		
	EXHIBIT C.	  	PATENT RIGHT(S) UNDER PARAGRAPH 1.14
		
	EXHIBIT D.	  	BIOLOGICAL MATERIAL(S) UNDER PARAGRAPH 1.2
		
	EXHIBIT E.	  	[***] UNDER PARAGRAPH 3.7
		
	EXHIBIT F.	  	FORM OF STOCK ISSUANCE AGREEMENT UNDER PARAGRAPH 3.8

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 EXHIBIT A 

LICENSE FEE, ROYALTIES, PAYMENTS AND EQUITY UNDER ARTICLE 3 

 

	1.	License Fee and Amendment Fee: The license fee payable under Paragraph 3.1(a) is [***] The amendment fee payable under Paragraph 3.1(b) is [***] 

 

	2.	Minimum Annual Royalties: The minimum annual royalties payable under Paragraph 3.2 are: 

  

	 	Anniversary	                             Amount 

    [***] 
  

	3.	Royalties: The running royalty rates payable under Paragraph 3.3 are: 

 [***] 

 

	4.	Diligence Milestone Payments:The diligence milestone payments payable under Paragraph 3.5 are: 

[***] 
  

	5.	Sublicense Consideration: The percent sublicense consideration payable under Paragraph 3.6 is: 

[***] 
  

	6.	Equity:The equity to be issued to JHU under Paragraph 3.8 is: 

 111,111 shares of the
Company’s common stock pursuant to a customary Stock Issuance Agreement 
  

	7.	Patent Expense Reimbursement: The patent expense reimbursement under Paragraph 3.7 is: 

[***] 

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 EXHIBIT B 

[***] ROYALTY REPORT UNDER PARAGRAPH 5.1(b) 

FOR LICENSE AGREEMENT A30817 

BETWEEN 
 ALLAKOS INC.
AND THE JOHNS HOPKINS UNIVERSITY 
 EFFECTIVE DATE _______________________________ 

FOR PERIOD OF ______________ TO ______________ 

[***] 
  

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

		 		 		 		 		 		 	
		 		 		 		 		 		 	
		 		 		 		 		 		 	
		 		 		 		 		 		 	
		 		 		 		 		 		 	
		 		 		 		 		 		 	

 [***] 

This report format is to be used to report [***] to JHU. [***] 

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 EXHIBIT C 

PATENT RIGHTS UNDER PARAGRAPH 1.14 
  

	
	[***]

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 EXHIBIT D 

BIOLOGICAL MATERIAL(S) UNDER PARAGRAPH 1.2 
  

	
	[***]

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 EXHIBIT E 

[***] UNDER PARAGRAPH 3.7 

[***] 
  

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 EXHIBIT F 

FORM OF STOCK ISSUANCE AGREEMENT UNDER PARAGRAPH 3.8 

(see attached) 

					
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 ALLAKOS INC. 

COMMON STOCK ISSUANCE AGREEMENT 

This Common Stock Issuance Agreement (the “Agreement”) is made as of
                    , 2013, by and between Allakos Inc., a Delaware corporation (the “Company”), and The Johns Hopkins University
(the “JHU”). 
 RECITALS 

A. JHU and the Company are each a party to that certain Exclusive License Agreement with an effective date of
                    , 2013 (the “License Agreement”), pursuant to which JHU licensed certain intellectual property rights to the
Company. 
 B. Pursuant to Section 3.8 of the License Agreement, JHU is entitled to receive 111,111 shares of Common Stock of the
Company. 
 C. The Board of Directors of the Company has approved the issuance of 111,111 shares of Common Stock of the Company as
fulfillment in full of the Company’s obligation to grant such equity award to JHU pursuant to Section 3.8 of the License Agreement. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and each intending to be bound hereby, the Company and JHU hereby agree as follows: 

1. Issuance of Common Stock. 

(a) The Company hereby issues to JHU 111,111 shares of the Company’s Common Stock (the “Shares”) at a price of [***] (par
value) per Share and an aggregate Purchase Price of [***] (the “Purchase Price”). The Company will promptly, after delivery of this Agreement, issue a certificate representing the Shares registered in the name of JHU. 

(b) The Purchase Price for the Shares shall be deemed to be paid in full by JHU’s execution of the License Agreement and the grants made
by JHU pursuant to Section 2.1 of the License Agreement. 
 (c) JHU acknowledges and agrees that, except for JHU’s participation
rights set forth in Section 3.9 of the License Agreement, the issuance of the Shares satisfies in full any and all rights that JHU may have to acquire or otherwise receive equity securities or securities convertible into or exercisable for
equity securities of the Company pursuant to the License Agreement. 
 2. Stock Splits, etc. If, from time to time
during the term of this Agreement: 
 (a) there is any stock dividend or dividend of cash and/or property, stock split, or other change in
the character or amount of any of the outstanding securities of the Company, including any conversion of outstanding securities of the Company into cash or securities of another corporation, person, or entity in connection with any acquisition,
merger, consolidation, or similar transaction involving the Company; or 

  
 *** Certain information in
this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request. 

					
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 (b) there is any liquidation, dissolution, or similar transaction, 

then, in such event, any and all new, substituted or additional securities, or other property to which JHU is entitled by reason of its ownership of Shares
shall be immediately subject to this Agreement and be included in the word “Shares” for all purposes with the same force and effect as the Shares presently subject to the right of first refusal, market standoff agreement and other terms of
this Agreement. 
 3. Right of First Refusal. Before any Shares registered in the name of JHU or of any transferee
(either being sometimes referred to herein as the “Holder”) thereof may be sold or transferred (including any transfer by operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares
on the terms and conditions set forth in this Section 3 (the “Right of First Refusal”). 
 (a) Notice of Proposed
Transfer. The Holder of the Shares shall deliver to the Company a notice (the “Notice”) stating (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each
proposed purchaser or other transferee (the “Proposed Transferee”); (iii) the number of Shares to be sold or transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the
Holder proposes to sell or transfer such Shares (the “Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 

(b) Exercise of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or
its assignee(s) may, by giving written notice to the Holder, elect to purchase all or part of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection
(c) below. 
 (c) Purchase Price. The purchase price for the Shares purchased by the Company (the “Company’s
Price”) or its assignee(s) under this Section 3 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration
shall be determined by the Board of Directors of the Company in good faith. 
 (d) Payment. Payment of the Company’s Price
shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or
by any combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times set forth in the Notice. 

(e) Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee
are not purchased by the Company and/or its assignee(s) as provided in this Section 3, then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such
sale or other transfer is consummated within one hundred and twenty (120) days after the date of 

					
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 the Notice, that any such sale or other transfer is effected in accordance with any applicable securities
laws and that the Proposed Transferee agrees in writing that the provisions of this Section 3 shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the
Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred.

 (f) Termination of Right of First Refusal. The Right of First Refusal shall terminate upon the earlier of (i) the
effective date of a registration statement filed by the Company under the Securities Act of 1933, as amended (the “Securities Act”), with respect to a public offering of Common Stock of the Company, or (ii) the closing date of
a sale of assets or merger of the Company or other acquisition transaction pursuant to which stockholders of the Company receive cash or securities of a buyer whose shares are publicly traded. 

(g) Invalid Transfers. The Company shall not be required (i) to transfer on its share register any Shares which shall have
been purportedly sold or transferred if such transfer would be in violation of this Agreement or (ii) to treat as owner of such Shares, to accord the right to vote as such owner, or to pay dividends to any purported transferee to whom such
Shares shall have purportedly been so transferred. 
 4. Legends. All certificates representing any of the Shares shall
have endorsed thereon legends in substantially the following form: 
 (a) “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
CERTAIN RESTRICTIONS ON TRANSFER, INCLUDING A RIGHT OF FIRST REFUSAL ON TRANSFERS, SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR ITS, HIS OR HER PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL
OFFICE OF THE COMPANY.” 
 (b) “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY
NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.”

 (c) Any legend required to be placed thereon by the applicable blue sky laws of any state. 

5. JHU’s Representations. In connection with the purchase of the Shares, JHU hereby represents and warrants to the
Company as follows: 
 (a) Investment Intent. JHU is purchasing the Shares solely for investment and not with any present
intention of selling or otherwise disposing of the Shares or any portion thereof in any transaction other than a transaction exempt from registration under the Securities Act. JHU also represents that the entire legal and beneficial interest of the
Shares is being purchased, and will be held, for JHU’s account only, and neither in whole nor in part for any other person or entity. 

					
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 (b) Residence. JHU principal location is at the address indicated beneath
JHU’s signature below. 
 (c) Information Concerning Company. JHU has had the opportunity to discuss the plans,
operations, and financial condition of the Company with its officers and has received all information JHU has deemed appropriate to enable JHU to evaluate the financial risk inherent in investing in the Shares. JHU has a preexisting business
relationship with the Company or any of its officers, directors, or controlling persons or by reason of JHU’s business or financial experience or the business or financial experience of JHU’s professional advisors who are unaffiliated with
and who are not compensated by the Company, directly or indirectly, could be reasonably assumed to have the capacity to evaluate the merits and risks of an investment in the Company and to protect JHU’s own interests in connection with these
transactions. 
 (d) Economic Risk. JHU realizes that the purchase of the Shares involves a high degree of risk, and JHU is
able, without impairing its financial condition, to hold the Shares for an indefinite period of time and to suffer a complete loss of their value. 

(e) Restricted Securities. JHU acknowledges that the sale of the Shares has not been registered under the Securities Act. The
Shares must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available, and the Company is under no obligation to register the Shares. 

(f) Rule 144. JHU is familiar with Rule 144 adopted under the Securities Act, which in some
circumstances permits limited public resales of “restricted securities” like the shares acquired from an issuer in a non-public offering. JHU understands that its ability to sell the Shares under
Rule 144 in the future is uncertain, and may depend upon, among other things: (i) the availability of certain current public information about the Company; (ii) the resale occurring more than a specified period after JHU’s purchase
and full payment (within the meaning of Rule 144) for the Shares; and (iii) if JHU is an affiliate of the Company (A) the sale being made in an unsolicited “broker’s transaction”, transactions directly with a market maker or
riskless principal transactions, as those terms are defined under the Securities Exchange Act of 1934, as amended, (B) the amount of shares being sold during any three-month period not exceeding the specified limitations stated in Rule 144, and
(C) timely filing of a notice of proposed sale on Form 144, if applicable. JHU further understands that the requirements of Rule 144 may never be met, and that the Shares may never be saleable under the rule. JHU further understands that
at the time it wishes to sell the Shares, there may be no public market for the Company’s stock upon which to make such a sale, or the current public information requirements of Rule 144 may not be satisfied, either of which may preclude
JHU from selling the Shares under Rule 144 even if the relevant holding period had been satisfied. 
 (g) Further Limitations on
Disposition. Without in any way limiting the representations set forth above, JHU further agrees that it shall in no event make any disposition of any portion of the Shares unless and until: 

					
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 (i) (A) there is in effect a registration statement under the Securities Act covering
such proposed disposition and such disposition is made in accordance with said registration statement; (B) the resale provisions of Rule 701 or Rule 144 are available in the opinion of counsel to the Company; or (C)(1) JHU shall
have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, (2) JHU shall have furnished the Company with an opinion of
JHU’s counsel, reasonably acceptable to the Company to the effect that such disposition will not require registration of such shares under the Securities Act, and (3) such opinion of JHU’s counsel shall have been concurred in by
counsel for the Company and the Company shall have advised JHU of such concurrence; and 
 (ii) JHU shall have complied with the Right of
First Refusal set forth in Section 3. 
 (h) Responsibility for Tax Consequences. JHU has reviewed the federal, state,
local and foreign tax consequences of this investment and the transactions contemplated by this Agreement (including any tax consequences that may result now or in the future under recently enacted tax legislation) and has had the opportunity to
consult with its tax advisors, if any, regarding such consequences. JHU acknowledges that it is not relying on any statements or representations of the Company or any of the Company’s agents in regard to such tax consequences and understands
that JHU (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. JHU acknowledges that the Company has no obligation in regard to the
future conduct of its business, to act or refrain from acting in any manner, regardless of the loss of any tax benefit to JHU in connection with the purchase, ownership, or sale of the Stock, which may result from such action or inaction. 

6. Market Standoff Agreement. JHU hereby agrees that JHU shall not offer, pledge, sell, contract to sell, sell any option
or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into
any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company held by JHU (other than those included in the registration)
for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following the effective date of any registration statement of the Company
filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst
recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto). 

JHU agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent
with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, JHU shall provide, within ten
(10) days of such request, such information as may be required by the 

					
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Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The
obligations described in this Section 6 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that
may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer
instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or other) period. JHU agrees that any transferee of the Shares shall be
bound by this Section 6. 
 7. Governing Law. This Agreement shall be governed by the laws of the State of
California without regard to the conflicts of law provisions thereof. 
 8. Jurisdiction; Venue. The parties consent to
the exclusive jurisdiction of, and venue in, the state courts in Santa Clara County in the State of California (or in the event of exclusive federal jurisdiction, the courts of the Northern District of California) with respect to any disputes
arising out of or related to this Agreement which is not resolved by the relevant parties thereto themselves in writing. 
 9.
Dispute Resolution Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and disbursements in addition
to any other relief to which such party may be entitled. 
 10. Amendments and Waivers. Any term of this Agreement may
be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the parties hereto. 

11. Additional Actions. The parties will execute such further instruments and take such further action as may reasonably
be necessary to carry out the intent of this Agreement. 
 12. Notices. Any notice required or permitted hereunder shall
be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States Post Office, by regular or certified mail with postage and fees prepaid, addressed, if to JHU, at its address shown on the
Company’s records and, if to the Company, at the address of its principal corporate offices (Attention: President) or at such other address as such party may designate by ten (10) days’ advance written notice to the other party. 

13. Assignment. The Company may assign its rights and delegate its duties under this Agreement. If any such assignment or
delegation requires consent of the California Commissioner of Corporations, the parties agree to cooperate in requesting such consent. 

14. Successors and Assigns. This Agreement shall inure to the benefit of the successors and assigns of the Company and,
subject to the restrictions on transfer herein set forth, be binding upon JHU and its successors and assigns. 

					
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 15. Severability. In case any provision of this Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

16. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but
all of which together shall constitute one instrument 
 17. Entire Agreement. This Agreement constitutes the full and
entire understanding and agreement between the Company and JHU with regard to the subjects hereof and thereof, and no party shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties,
representations, or covenants, except as specifically set forth herein. 
 [Remainder of page intentionally left blank] 

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

							
	“COMPANY”	 		 	ALLAKOS INC.
				
		 		 	BY:	 	
                     
                                         
                           

		 		 	NAME:	 	  

		 		 	TITLE:	 	  

			
	“JHU”	 		 	THE JOHNS HOPKINS UNIVERSITY
				
		 		 	BY:	 	  

		 		 	NAME:	 	  

		 		 	TITLE:	 	  

			
		 		 	Address:

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