Document:

EX-10.7

 Exhibit 10.7 

LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of February 11, 2015 (the “Effective
Date”) between SILICON VALLEY BANK, a California corporation (“Bank”), and INVUITY, INC., a California corporation (“Borrower”), provides the terms on which Bank shall lend to Borrower and
Borrower shall repay Bank. The parties agree as follows: 
 1. ACCOUNTING AND OTHER TERMS 

Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP.
Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such
terms are defined therein. 
 2. LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and
accrued and unpaid interest thereon as and when due in accordance with this Agreement. 
 2.2 Revolving Advances. 

(a) Availability. Subject to the terms and conditions of this Agreement and to deduction of Reserves, Bank shall make Advances not
exceeding the Availability Amount. Amounts borrowed under the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. 

(b) Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all
Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. 

2.3 Overadvances. If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or
the Borrowing Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any Overadvance, Borrower agrees to pay Bank interest
on the outstanding amount of any Overadvance, on demand, at the Default Rate. 
 2.4 Payment of Interest on the Credit
Extensions. 
 (a) Advances. Subject to Section 2.4(b), the principal amount outstanding under the Revolving Line
shall accrue interest at a floating per annum rate equal to the Prime Rate plus three quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.4(d) below. 

 (b) Default Rate. Immediately upon the occurrence and during the continuance of an Event
of Default, Obligations shall bear interest at a rate per annum which is five percentage points (5.0%) above the rate that is otherwise applicable thereto (the “Default Rate”). Fees and expenses which are required to be paid by
Borrower pursuant to the Loan Documents (including, without limitation, Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance of the increased
interest rate provided in this Section 2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 

(c) Adjustment to Interest Rate. Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be
effective on the effective date of any change to the Prime Rate and to the extent of any such change. 
 (d) Payment; Interest
Computation. Interest is payable monthly on the last calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after
12:00 p.m. Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided,
however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension. 

2.5 Fees. Borrower shall pay to Bank: 

(a) Commitment Fee. A commitment fee of Two Hundred Twenty-Five Thousand Dollars ($225,000) (the “Commitment Fee”)
which is fully earned and non-refundable as of the Effective Date and payable in three (3) installments of Seventy Five Thousand Dollars ($75,000) each on the Effective Date, the first
(1st) anniversary of the Effective Date and the second (2nd) anniversary of the Effective Date; 

(b) Good Faith Deposit. Borrower has paid to Bank a deposit of Fifteen Thousand Dollars ($15,000) (the “Good Faith
Deposit”) to initiate Bank’s due diligence review process. Any portion of the Good Faith Deposit not utilized to pay Bank Expenses will be applied to the Commitment Fee. 

(c) Termination Fee. Upon termination of this Agreement for any reason prior to the Revolving Line Maturity Date, in addition to the
payment of any other amounts then-owing, a termination fee in an amount equal to One Hundred Fifty Thousand Dollars ($150,000); provided that no termination fee shall be charged if the credit facility hereunder is replaced with a new facility from
Bank; and 
 (d) Bank Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses for documentation and
negotiation of this Agreement) incurred through and after the Effective Date, when due (or, if no stated due date, upon demand by Bank). 

(e) Fees Fully Earned. Unless otherwise provided in this Agreement or in a separate writing by Bank, Borrower shall not be entitled to
any credit, rebate, or repayment of any fees earned by Bank pursuant to this Agreement notwithstanding any termination of this 

  
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Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder. Bank may deduct amounts owing by Borrower under the clauses of this Section 2.5
pursuant to the terms of Section 2.6(c). Bank shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of the clauses of this Section 2.5. 

2.6 Payments; Application of Payments; Debit of Accounts. 

(a) All payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars, without setoff or
counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment is
due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. 

(b) Bank has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied.
Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise received by Bank under this Agreement when any such allocation or application
is not specified elsewhere in this Agreement. 
 (c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit
Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off. 

2.7 Withholding. Payments received by Bank from Borrower under this Agreement will be made free and clear of and without deduction for
any and all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority (including any interest, additions to tax or penalties applicable thereto).
Specifically, however, if at any time any Governmental Authority, applicable law, regulation or international agreement requires Borrower to make any withholding or deduction from any such payment or other sum payable hereunder to Bank, Borrower
hereby covenants and agrees that the amount due from Borrower with respect to such payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the making of such required withholding or deduction, Bank
receives a net sum equal to the sum which it would have received had no withholding or deduction been required, and Borrower shall pay the full amount withheld or deducted to the relevant Governmental Authority. Borrower will, upon request, furnish
Bank with proof reasonably satisfactory to Bank indicating that Borrower has made such withholding payment; provided, however, that Borrower need not make any withholding payment if the amount or validity of such withholding payment is contested in
good faith by appropriate and timely proceedings and as to which payment in full is bonded or reserved against by Borrower. The agreements and obligations of Borrower contained in this Section 2.7 shall survive the termination of this
Agreement. 

  
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 3. CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the
condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation: 

(a) duly executed original signatures to the Loan Documents; 

(b) the Operating Documents and good standing certificates of Borrower and its Subsidiaries certified by the Secretary of State (or equivalent
agency) of the State of California, each as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (c) duly executed
original signatures to the completed Borrowing Resolutions for Borrower; 
 (d) the Intercreditor Agreement, together with the duly executed
original signatures thereto; 
 (e) true, accurate and complete copies of the HRP Loan Documents; 

(f) certified copies, dated as of a recent date, of financing statement searches, as Bank may request, accompanied by written evidence
(including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 

(g) the Perfection Certificate of Borrower, together with the duly executed original signature thereto; 

(h) a landlord’s consent in favor of Bank for 39 Stillman Street, San Francisco, California 94107 by the landlord thereof, together with
the duly executed original signatures thereto; 
 (i) a bailee’s waiver in favor of Bank for each location where Borrower maintains
property with a third party valued at more than Seventy Five Thousand Dollars ($75,000), by each such third party, together with the duly executed original signatures thereto; 

(j) evidence satisfactory to Bank that the insurance policies and endorsements required by Section 6.7 hereof are in full force and
effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Bank; and 

(k) payment of the fees and Bank Expenses then due as specified in Section 2.5 hereof. 

  
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 3.2 Conditions Precedent to all Credit Extensions. Bank’s obligations to make each
Credit Extension, including the initial Credit Extension, is subject to the following conditions precedent: 
 (a) timely receipt of an
executed Transaction Report; 
 (b) the representations and warranties in this Agreement shall be true, accurate, and complete in all
material respects on the date of the Transaction Report and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or
modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of
Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement remain true, accurate, and
complete in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that
those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; and 

(c) Bank determines to its satisfaction that there has not occurred any Material Adverse Change. 

3.3 Covenant to Deliver. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a
condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item shall not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and the
making of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion. 
 3.4 Procedures for
Borrowing. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in this Agreement, to obtain an Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail by
12:00 p.m. Pacific time on the Funding Date of the Advance. In connection with such notification, Borrower must promptly deliver to Bank by electronic mail a completed Transaction Report executed by an Authorized Signer together with such other
reports and information, including without limitation, sales journals, cash receipts journals, accounts receivable aging reports, as Bank may request in its sole discretion. Bank shall credit proceeds of an Advance to the Designated Deposit Account.
Bank may make Advances under this Agreement based on instructions from an Authorized Signer or without instructions if the Advances are necessary to meet Obligations which have become due. 

4. CREATION OF SECURITY INTEREST.  

4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a
continuing security interest in, and pledges to Bank, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof. 

  
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 Borrower acknowledges that it previously has entered, and/or may in the future enter, into Bank
Services Agreements with Bank. Regardless of the terms of any Bank Services Agreement, Borrower agrees that any amounts Borrower owes Bank thereunder shall be deemed to be Obligations hereunder and that it is the intent of Borrower and Bank to have
all such Obligations secured by the first priority perfected security interest in the Collateral granted herein (subject only to Permitted Liens). 

If this Agreement is terminated, Bank’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity
obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations) and at such time as Bank’s obligation to make Credit Extensions has terminated, Bank shall, at the sole cost
and expense of Borrower, release its Liens in the Collateral and all rights therein shall revert to Borrower. In the event (x) all Obligations (other than inchoate indemnity obligations), except for Bank Services, are satisfied in full, and
(y) this Agreement is terminated, Bank shall terminate the security interest granted herein upon Borrower providing cash collateral acceptable to Bank in its good faith business judgment for Bank Services, if any. In the event such Bank
Services consist of outstanding Letters of Credit, Borrower shall provide to Bank cash collateral in an amount equal to (x) if such Letters of Credit are denominated in Dollars, then at least one hundred five percent (105.0%); and (y) if
such Letters of Credit are denominated in a Foreign Currency, then at least one hundred ten percent (110.0%), of the Dollar Equivalent of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in
connection therewith (as estimated by Bank in its business judgment), to secure all of the Obligations relating to such Letters of Credit. 

4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the security interest granted herein is and shall
at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens). 
 4.3
Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder, including a
notice that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights of Bank under the Code. Such financing statements may indicate the Collateral as “all assets of the Debtor” or
words of similar effect, or as being of an equal or lesser scope, or with greater detail, all in Bank’s discretion. 
 5.
REPRESENTATIONS AND WARRANTIES 
 Borrower represents and warrants as follows: 

5.1 Due Organization, Authorization; Power and Authority. Borrower is duly existing and in good standing as a Registered Organization in
its jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the

  
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failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In connection with this Agreement, Borrower has delivered to Bank a completed
certificate signed by Borrower, entitled “Perfection Certificate”. Borrower represents and warrants to Bank that (a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof;
(b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification number or
accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its
chief executive office); (e) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction;
and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update certain information in
the Perfection Certificate after the Effective Date to the extent permitted by one or more specific provisions in this Agreement and the update of the foregoing information is permitted). 

The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not
(i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order,
writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration,
or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect) or (v) conflict with, contravene, constitute a default or
breach under, or result in or permit the termination or acceleration of, any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could
reasonably be expected to have a material adverse effect on Borrower’s business. 
 5.2 Collateral. Borrower has good title to,
rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. Borrower has no Collateral Accounts at or with any bank or financial
institution other than Bank or Bank’s Affiliates. The Accounts are bona fide, existing obligations of the Account Debtors. 
 The
Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection Certificate. None of the components of the Collateral shall be maintained at locations other than as provided in the
Perfection Certificate or as permitted pursuant to Section 7.2. 
 All Inventory is in all material respects of good and marketable
quality, free from material defects. 

  
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 Borrower is the sole owner of the Intellectual Property which it owns or purports to own except
for (a) non-exclusive licenses granted to its customers in the ordinary course of business, (b) over-the-counter software that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower and
noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is material to Borrower’s business is valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and which
is material to Borrower’s business has been judged invalid or unenforceable, in whole or in part. To the best of Borrower’s knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third party
except to the extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s business. 
 5.3
Accounts Receivable. 
 (a) For each Account with respect to which Advances are requested, on the date each Advance is requested
and made, such Account shall be an Eligible Account. 
 (b) All statements made and all unpaid balances appearing in all invoices,
instruments and other documents evidencing the Eligible Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. All
sales and other transactions underlying or giving rise to each Eligible Account shall comply in all material respects with all applicable laws and governmental rules and regulations. Borrower has no knowledge of any actual or imminent Insolvency
Proceeding of any Account Debtor whose accounts are Eligible Accounts in any Transaction Report. To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible
Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. 
 5.4
Litigation. Except as set forth in the Perfection Certificate, there are no actions or proceedings pending or, to the knowledge of any Responsible Officer, threatened in writing by or against Borrower or any of its Subsidiaries that could
reasonably be expected to result in liability of more than, individually or in the aggregate, One Hundred Thousand Dollars ($100,000). 

5.5 Financial Statements; Financial Condition. All consolidated financial statements for Borrower and any of its Subsidiaries delivered
to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial
condition since the date of the most recent financial statements submitted to Bank. 
 5.6 Solvency. The fair salable value of
Borrower’s consolidated assets (including goodwill minus disposition costs) exceeds the fair value of Borrower’s liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is
able to pay its debts (including trade debts) as they mature. 

  
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 5.7 Regulatory Compliance. Borrower is not an “investment company” or a company
“controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of
the Federal Reserve Board of Governors). Borrower (a) has complied in all material respects with all Requirements of Law, and (b) has not violated any Requirements of Law the violation of which could reasonably be expected to have a
material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons, in disposing,
producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices
to, all Government Authorities that are necessary to continue their respective businesses as currently conducted. 
 5.8 Subsidiaries;
Investments. Borrower does not own any stock, partnership, or other ownership interest or other equity securities except for Permitted Investments. 

5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required tax returns and reports, except for tax
returns and reports for amounts which do not exceed One Hundred Thousand Dollars ($100,000) in the aggregate and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except
(a) to the extent such taxes are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, so long as such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP
shall have been made therefor, or (b) if such taxes, assessments, deposits and contributions do not, individually or in the aggregate, exceed One Hundred Thousand Dollars ($100,000). 

To the extent Borrower defers payment of any contested taxes, Borrower shall (i) notify Bank in writing of the commencement of, and any
material development in, the proceedings, and (ii) post bonds or take any other steps required to prevent the governmental authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a
“Permitted Lien.” Borrower is unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to
fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of
any other event with respect to, any such plan which could reasonably be expected to result in any material liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental
agency. 
 5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working capital, for general
corporate purposes and to fund its general business requirements and not for personal, family, household or agricultural purposes. 
 5.11
Full Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank, as of the date such representation, warranty, or other statement was made, taken together with all such
written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements

  
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not misleading (it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual
results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

5.12 Definition of “Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is made to
Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of any Responsible Officer. 

6. AFFIRMATIVE COVENANTS 

Borrower shall do all of the following: 

6.1 Government Compliance. 

(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain
qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, in all material
respects, with all laws, ordinances and regulations to which it is subject. 
 (b) Obtain all of the Governmental Approvals necessary for the
performance by Borrower of its obligations under the Loan Documents to which it is a party and the grant of a security interest to Bank in the Collateral. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Bank.

 6.2 Financial Statements, Reports, Certificates. Provide Bank with the following: 

(a) a Transaction Report (including sales and collections journals and any schedules related thereto) (i) with each request for an
Advance, (ii) no later than Friday of each week when a Streamline Period is not in effect, and (iii) within thirty (30) days after the end of each month when a Streamline Period is in effect; 

(b) (i) no later than Friday of each week when a Streamline Period is not in effect, and (ii) within twenty (20) days after the end
of each month when a Streamline Period is in effect, (A) monthly accounts receivable agings, aged by invoice date, (B) monthly accounts payable agings, aged by invoice date, and outstanding or held check registers, if any, and
(C) monthly reconciliations of accounts receivable agings (aged by invoice date), transaction reports, Deferred Revenue report and general ledger; 

(c) as soon as available, but no later than thirty (30) days after the last day of each month, a company prepared consolidated balance
sheet, cash flow statement and income statement covering Borrower’s consolidated operations for such month certified by a Responsible Officer and in a form acceptable to Bank (the “Monthly Financial Statements”); 

  
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 (d) within thirty (30) days after the last day of each month and together with the Monthly
Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of the terms and conditions of this Agreement, and setting forth
calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Bank may reasonably request, including, without limitation, a statement that at the end of such month there were no held checks;

 (e) at least annually and within thirty (30) days after approval by Borrower’s Board of Directors, (A) annual operating
budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (B) annual financial projections for the following fiscal year (on a quarterly basis) as approved by
Borrower’s board of directors, together with any related business forecasts used in the preparation of such annual financial projections; 

(f) (i) at all times that Borrower’s Board of Directors requires Borrower to prepare audited financial statements, as soon as available,
and in any event within two hundred forty (240) days following the end of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial
statements from an independent certified public accounting firm reasonably acceptable to Bank; and (ii) at all other times, as soon as available, and in any event within sixty (60) days following the end of Borrower’s fiscal year, a
company prepared consolidated balance sheet, cash flow statement and income statement covering Borrower’s consolidated operations for such fiscal year certified by a Responsible Officer and in a form reasonably acceptable to Bank; 

(g) in the event that Borrower becomes subject to the reporting requirements under the Exchange Act within five (5) days of filing, copies
of all periodic and other reports, proxy statements and other materials filed by Borrower with the SEC, any Governmental Authority succeeding to any or all of the functions of the SEC or with any national securities exchange, or distributed to its
shareholders, as the case may be. Documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be
deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on the Internet at Borrower’s website address; provided, however, Borrower shall promptly notify Bank in
writing (which may be by electronic mail) of the posting of any such documents; 
 (h) within five (5) days of delivery, copies of all
statements, reports and notices made generally available to Borrower’s security holders or to any holders of Subordinated Debt; 
 (i)
prompt report of any legal actions pending or threatened in writing against Borrower or any of its Subsidiaries that could reasonably be expected to result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the
aggregate, One Hundred Thousand Dollars ($100,000) or more; and 
 (j) other financial information reasonably requested by Bank. 

  
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 6.3 Accounts Receivable. 

(a) Schedules and Documents Relating to Accounts. Borrower shall deliver to Bank transaction reports and schedules of collections, as
provided in Section 6.2, on Bank’s standard forms; provided, however, that Borrower’s failure to execute and deliver the same shall not affect or limit Bank’s Lien and other rights in all of Borrower’s Accounts, nor shall
Bank’s failure to advance or lend against a specific Account affect or limit Bank’s Lien and other rights therein. If requested by Bank, Borrower shall furnish Bank with copies (or, at Bank’s request, originals) of all contracts,
orders, invoices, and other similar documents, and all shipping instructions, delivery receipts, bills of lading, and other evidence of delivery, for any goods the sale or disposition of which gave rise to such Accounts. In addition, Borrower shall
deliver to Bank, on its request, the originals of all instruments, chattel paper, security agreements, guarantees and other documents and property evidencing or securing any Accounts, in the same form as received, with all necessary indorsements,
and copies of all credit memos. 
 (b) Disputes. Borrower shall promptly notify Bank of all disputes or claims relating to Accounts in
an amount in excess of Fifty Thousand Dollars ($50,000). Borrower may forgive (completely or partially), compromise, or settle any Account for less than payment in full, or agree to do any of the foregoing so long as (i) Borrower does so in
good faith, in a commercially reasonable manner, in the ordinary course of business, in arm’s-length transactions, and reports the same to Bank in the regular reports provided to Bank; (ii) no Event of Default has occurred and is
continuing; and (iii) after taking into account all such discounts, settlements and forgiveness, the total outstanding Advances will not exceed the lesser of the Revolving Line or the Borrowing Base. 

(c) Collection of Accounts. Borrower shall have the right to collect all Accounts, unless and until an Event of Default has occurred and
is continuing. Bank shall require that Borrower direct Account Debtors to deliver or transmit all proceeds of Accounts into a lockbox account (for receipt of checks, among other things), or via electronic deposit capture or wire transfer into a
“blocked account” as specified by Bank that Bank controls (for receipt of wires and merchant credit card receipts, among other things) (either such account, the “Cash Collateral Account”). Whether or not an Event of
Default has occurred and is continuing, Borrower shall immediately deliver all payments on and proceeds of Accounts to the Cash Collateral Account (i) to be applied to immediately reduce the Obligations when a Streamline Period is not effect,
or (ii) to be transferred on a daily basis to Borrower’s operating account with Bank when a Streamline Period is in effect. 
 (d)
Returns. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower, Borrower shall promptly (i) determine the reason for such return, (ii) issue a credit memorandum to the
Account Debtor in the appropriate amount, and (iii) provide a copy of such credit memorandum to Bank, upon request from Bank. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default,
Borrower shall hold the returned Inventory in trust for Bank, and immediately notify Bank of the return of the Inventory. 
 (e)
Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and
notify any Account Debtor of Bank’s security interest in such Account. 

  
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 (f) No Liability. Bank shall not be responsible or liable for any shortage or discrepancy
in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to
collect any Account, or for settling any Account in good faith for less than the full amount thereof, nor shall Bank be deemed to be responsible for any of Borrower’s obligations under any contract or agreement giving rise to an Account.
Nothing herein shall, however, relieve Bank from liability for its own gross negligence or willful misconduct. 
 6.4 Remittance of
Proceeds. Except as otherwise provided in Section 6.3(c) and the Intercreditor Agreement, deliver, in kind, all proceeds arising from the disposition of any Collateral to Bank in the original form in which received by Borrower not later
than the following Business Day after receipt by Borrower, to be applied to the Obligations (a) prior to an Event of Default, pursuant to the terms of Section 2.4(b) hereof, and (b) after the occurrence and during the continuance of
an Event of Default, pursuant to the terms of Section 9.4 hereof. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower’s other funds or property, but will hold such proceeds separate and apart from such
other funds and property and in an express trust for Bank. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement. 

6.5 Taxes; Pensions. Timely file, and require each of its Subsidiaries to timely file, all required tax returns and reports except for
tax returns and reports for amounts which do not exceed One Hundred Thousand Dollars ($100,000) in the aggregate and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits
and contributions owed by Borrower and each of its Subsidiaries, except as otherwise specified pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all
amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

6.6 Access to Collateral; Books and Records. At reasonable times, on one (1) Business Day’s notice (provided no notice is
required if an Event of Default has occurred and is continuing), Bank, or its agents, shall have the right to inspect the Collateral and the right to audit and copy Borrower’s Books. The foregoing inspections and audits shall be conducted at
Borrower’s expense and no more often than once every twelve (12) months (or more frequently as conditions may warrant in Bank’s sole discretion) unless an Event of Default has occurred and is continuing in which case such inspections
and audits shall occur as often as Bank shall determine is necessary. The charge therefor shall be $850 per person per day (or such higher amount as shall represent Bank’s then-current standard charge for the same), plus reasonable
out-of-pocket expenses. In the event Borrower and Bank schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit with less than ten (10) days written notice to Bank, then (without limiting
any of Bank’s rights or remedies) Borrower shall pay Bank a fee of $1,000 plus any out-of-pocket expenses incurred by Bank to compensate Bank for the anticipated costs and expenses of the cancellation or rescheduling. The Initial Audit shall be
conducted within ninety (90) days after the Effective Date. 

  
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 6.7 Insurance. 

(a) Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and location and
as Bank may reasonably request. Insurance policies shall be in a form, with financially sound and reputable insurance companies that are not Affiliates of Borrower, and in amounts that are reasonably satisfactory to Bank. All property policies shall
have a lender’s loss payable endorsement showing Bank as a loss payee. All liability policies shall show, or have endorsements showing, Bank as an additional insured. Bank shall be named as lender loss payee and/or additional insured with
respect to any such insurance providing coverage in respect of any Collateral. 
 (b) Subject to Section 6.4 and the Intercreditor
Agreement, ensure that the proceeds payable under any property policy are, at Bank’s option, payable to Bank on account of the Obligations. 

(c) At Bank’s request, Borrower shall deliver certified copies of insurance policies and evidence of all premium payments. Each provider
of any such insurance required under this Section 6.7 shall agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to Bank, that it will give Bank thirty (30) days prior written notice before
any such policy or policies shall be materially altered or canceled. If Borrower fails to obtain insurance as required under this Section 6.7 or to pay any amount or furnish any required proof of payment to third persons and Bank, Bank may make
all or part of such payment or obtain such insurance policies required in this Section 6.7, and take any action under the policies Bank deems prudent. 

6.8 Operating Accounts. Conduct all banking, investment and foreign exchange activity (including, without limitation, maintaining all of
its operating and other deposit accounts and securities accounts) with Bank and Bank’s Affiliates. 
 6.9 Reserved.

 6.10 Protection of Intellectual Property Rights. (i) Protect, defend and maintain the validity and enforceability of its
Intellectual Property material to Borrower’s business; (ii) promptly advise Bank in writing of material infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual
Property taken as a whole; and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Bank’s written consent. 

6.11 Litigation Cooperation. From the date hereof and continuing through the termination of this Agreement, make available to Bank,
without expense to Bank, Borrower and its officers, employees and agents and Borrower’s books and records, to the extent that Bank may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or
against Bank with respect to any Collateral or relating to Borrower. 
 6.12 Formation or Acquisition of Subsidiaries.
Notwithstanding and without limiting the negative covenants contained in Sections 7.3 and 7.7 hereof, at the time that Borrower or any Guarantor forms any direct or indirect Domestic Subsidiary or acquires any direct or indirect Domestic
Subsidiary after the Effective Date, Borrower and such Guarantor 

  
 14 

 
shall (a) cause such new Domestic Subsidiary to provide to Bank, at Bank’s option in its sole discretion, either a joinder to the Loan Agreement to cause such Subsidiary to become a
co-borrower hereunder or a Guaranty, and in each case, together with such appropriate financing statements and/or Control Agreements, all in form and substance satisfactory to Bank (including being sufficient to grant Bank a first priority Lien
(subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary that would constitute Collateral as defined herein), and (b) provide to Bank all other documentation in form and substance satisfactory to Bank. Any
document, agreement, or instrument executed or issued pursuant to this Section 6.12 shall be a Loan Document. 
 6.13 Further
Assurances. Execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. 

7. NEGATIVE COVENANTS 

Borrower shall not do any of the following without Bank’s prior written consent: 

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, “Transfer”), or permit
any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete Equipment that is, in the reasonable judgment of
Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of Borrower; (c) consisting of Permitted Liens and Permitted Investments; (d) consisting of the sale or issuance of any stock of a
Subsidiary permitted under Section 7.2 of this Agreement; (e) consisting of Borrower’s use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents;
(f) of non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in the ordinary course of business and licenses that could not result in a legal transfer of title of the licensed property but that may be exclusive in
respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States; (g) Transfers permitted by Section 7.3 or Section 7.7; (h) any Transfer of any property
to Borrower or any of its Subsidiaries that is a Guarantor; (i) any Transfer of property, without the payment or provision of consideration to Borrower or any of its Subsidiaries for such property (other than expense reimbursement), reasonably
necessary for the conduct of any then on-going clinical trial or other development or regulatory activities associated with such property; (j) any Transfer of any Property as promotional support in the ordinary course of business,
(k) Transfers of property from the Borrower or a Guarantor to Subsidiaries that are not Guarantors (A) in the ordinary course of business and (B) reasonably necessary in connection with licenses of Intellectual Property and related
rights in connection with the manufacture, use, sale, offer for sale (including marketing and promotion), importation, distribution or other commercialization of the Borrower’s products outside the United States and (l) Transfers of assets
in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) in any fiscal year of Borrower. 

  
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 7.2 Changes in Business, Management, Ownership, or Business Locations.
(a) Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or any business reasonably related thereto; (b) liquidate or dissolve;
or (c) (i) fail to provide prompt notice to Bank of Borrower’s chief executive officer departing from or ceasing to be employed by Borrower in such capacity; or (ii) consummate any transaction or series of related transactions in
which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own more than forty-nine percent (49%) of the voting stock of Borrower immediately after giving effect to such transaction or related
series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital or private equity investors so long as Borrower identifies to Bank the venture capital or private equity investors at
least seven (7) Business Days (or such shorter period agreed to by Bank) prior to the closing of the transaction and provides to Bank a description of the material terms of the transaction). 

Borrower shall not, without at least thirty (30) days prior written notice to Bank: (1) add any new offices or business locations,
including warehouses (unless such new offices or business locations contain less than Seventy Five Thousand Dollars ($75,000) in Borrower’s assets or property) or deliver any portion of the Collateral valued, individually or in the aggregate,
in excess of Seventy Five Thousand Dollars ($75,000) to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate, (2) change its jurisdiction of organization, (3) change its
organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to deliver any portion of the Collateral valued, individually
or in the aggregate, in excess of Seventy Five Thousand Dollars ($75,000) to a bailee, and Bank and such bailee are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the
Collateral, then Borrower will first receive the written consent of Bank, and such bailee shall execute and deliver a bailee agreement in form and substance satisfactory to Bank. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or
acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person (including, without limitation, by the formation of any Subsidiary). Notwithstanding the foregoing, a Subsidiary may
merge or consolidate into another Subsidiary or into Borrower. 
 7.4 Indebtedness. Create, incur, assume, or be liable for any
Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Create, incur, allow,
or suffer any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the
first priority security interest granted herein (except with respect to the HRP Liens that are senior in priority in accordance with the Intercreditor Agreement), or enter into any agreement, document, instrument or other arrangement (except with or
in favor of Bank) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s
or any Subsidiary’s Intellectual Property in favor of Bank, except as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Liens” herein and except for the HRP Loan Documents. 

  
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 7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account except with Bank
and Bank’s Affiliates. 
 7.7 Distributions; Investments. (a) Pay any dividends or make any distribution or payment or
redeem, retire or purchase any capital stock provided that (i) Borrower may convert any of its convertible securities (including warrants and options) into other securities pursuant to the terms of such convertible securities or otherwise in
exchange thereof, (ii) Borrower may pay dividends solely in common stock; (iii) Borrower may repurchase the stock of former employees, directors or consultants (or current or former spouses, successors, administrators, heirs or legatees of
the foregoing) pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase, provided that the aggregate amount of all such
repurchases does not exceed Two Hundred Fifty Thousand Dollars ($250,000) per fiscal year, and (iv) Borrower may make cash payments in lieu of fractional shares; or (b) directly or indirectly make any Investment (including, without
limitation, by the formation of any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of
Borrower, except for (i) transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a
non-affiliated Person, (ii) transactions permitted pursuant to the terms of Section 7.7 of this Agreement, (iii) transactions constituting Permitted Investments, (iv) employment or compensation arrangements and employee benefit
plans and indemnities approved by Borrower’s Board of Directors and entered into in the ordinary course of business, (v) bona fide equity financings and bridge financings with Borrower’s existing investors approved by Borrower’s
Board of Directors; and (vi) transactions between or among Borrower or any Subsidiary or between or among Subsidiaries, in each case in the ordinary course of business and not otherwise prohibited hereunder. 

7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination,
intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof, provide for earlier or greater
principal, interest, or other payments thereon, or adversely affect the subordination thereof to Obligations owed to Bank. 
 7.10
Compliance. Become an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase
or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a
Reportable Event or Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse
effect on Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with respect
to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other
governmental agency. 

  
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 8. EVENTS OF DEFAULT 

Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension when due, or
(b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to payments due on the Revolving Line Maturity Date). During the cure
period, the failure to make or pay any payment specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period); 

8.2 Covenant Default. 

(a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.5, 6.7, 6.8, 6.9, or violates any covenant in Section 7;
or 
 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in
this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within ten
(10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and
such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure
to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants
set forth in clause (a) above; 
 8.3 Material Adverse Change. A Material Adverse Change occurs; 

8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control
of Borrower (including a Subsidiary), or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any Governmental Authority, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after
the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period; or 

(b) (i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver,
or (ii) any court order enjoins, restrains, or prevents Borrower from conducting all or any material part of its business; 

  
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 8.5 Insolvency. (a) Borrower or any of its Subsidiaries is unable to pay its debts
(including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or any of its Subsidiaries and is
not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 

8.6 Other Agreements. There is, under any agreement to which Borrower or any Guarantor is a party with a third party or parties,
(a) any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate in excess of Two Hundred Fifty Thousand Dollars
($250,000); or (b) any breach or default by Borrower or Guarantor, the result of which could have a material adverse effect on Borrower’s or any Guarantor’s business; 

8.7 Judgments; Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of money in an amount,
individually or in the aggregate, of at least Two Hundred Fifty Thousand Dollars ($250,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower by
any Governmental Authority, and the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied, or paid, or after execution thereof, stayed or bonded pending appeal, or such judgments are not
discharged prior to the expiration of any such stay (provided that no Credit Extensions will be made prior to the satisfaction, payment, discharge, stay, or bonding of such fine, penalty, judgment, order or decree); 

8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later
in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 

8.9 Subordinated Debt. Any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be revoked or
invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder, or the
Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement or the Intercreditor Agreement; 

8.10 Guaranty. (a) Any guaranty of any Obligations terminates or ceases for any reason to be in full force and effect; (b) any
Guarantor does not perform any obligation or covenant under any guaranty of the Obligations; (c) any circumstance described in Sections 8.3, 8.4, 8.5, 8.7, or 8.8 occurs with respect to any Guarantor, or (d) the liquidation, winding
up, or termination of existence of any Guarantor; or 
 8.11 Cross-Default with HRP Loan Documents. A default shall occur under the
HRP Loan Documents and such default is not cured within any applicable grace period provided therein. 

  
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 9. BANK’S RIGHTS AND REMEDIES 

9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, without notice or demand, do
any or all of the following: 
 (a) declare all Obligations immediately due and payable (but if an Event of Default described in
Section 8.5 occurs all Obligations are immediately due and payable without any action by Bank); 
 (b) stop advancing money or extending
credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Bank; 
 (c) demand that Borrower
(i) deposit cash with Bank in an amount equal to at least (x) if such Letters of Credit are denominated in Dollars, then at least one hundred five percent (105.0%); and (y) if such Letters of Credit are denominated in a Foreign
Currency, then at least one hundred ten percent (110.0%), of the Dollar Equivalent of the aggregate face amount of all Letters of Credit remaining undrawn (plus all interest, fees, and costs due or to become due in connection therewith (as estimated
by Bank in its good faith business judgment)), to secure all of the Obligations relating to such Letters of Credit, as collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit
and pay such amounts, and (ii) pay in advance all letter of credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; 

(d) terminate any FX Contracts; 

(e) verify the amount of, demand payment of and performance under, and collect any Accounts and General Intangibles, settle or adjust disputes
and claims directly with Account Debtors for amounts on terms and in any order that Bank considers advisable, and notify any Person owing Borrower money of Bank’s security interest in such funds; 

(f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the
Collateral. Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase,
contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s
rights or remedies; 
 (g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by
Bank owing to or for the credit or the account of Borrower; 
 (h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale,
advertise for sale, and sell the Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets, trade
names, Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this
Section, Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 

  
 20 

 (i) place a “hold” on any account maintained with Bank and/or deliver a notice of
exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

(j) demand and receive possession of Borrower’s Books; and 

(k) exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided under the
Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2 Power of Attorney. Borrower hereby irrevocably
appoints Bank as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign
Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines
reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based
thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign
Borrower’s name on any documents necessary to perfect or continue the perfection of Bank’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full and
Bank is under no further obligation to make Credit Extensions hereunder. Bank’s foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations
have been fully repaid and performed and Bank’s obligation to provide Credit Extensions terminates. 
 9.3 Protective Payments.
If Borrower fails to obtain the insurance called for by Section 6.7 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required
to preserve the Collateral, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured
by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar
payments in the future or Bank’s waiver of any Event of Default. 
 9.4 Application of Payments and Proceeds. If any Event of
Default has occurred and is continuing, Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition
of the Collateral, or otherwise, to the Obligations. Bank shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If

  
 21 

 
Bank, directly or indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of
either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor. 

9.5 Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices regarding the safekeeping of the
Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the
Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral. 

9.6 No Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by Borrower of any
provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the
party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and remedies
provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election and shall not preclude Bank from exercising any other remedy under this Agreement or other remedy available at law or in equity, and
Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a waiver, election, or acquiescence. 

9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default,
nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable. 

10. NOTICES 
 All
notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of
actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile
transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and
sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this
Section 10. 
 If to Borrower:     Invuity, Inc. 

          444 De Haro Street 

          San Francisco, California 94107 

          Attn: Michael J. Gandy, Chief Financial Officer 

          eFax: (415) 223-8607 

          Email: mgandy@invuity.com 

  
 22 

 If to Bank:           Silicon Valley Bank 

         2400 Hanover St. 

         Palo Alto, California 94304 

         Attn: Marina Bobrovich, Vice President 

         email: mbobrovich@svb.com 

11. CHOICE OF LAW, VENUE, JURY TRIAL WAIVER AND JUDICIAL REFERENCE 

Except as otherwise expressly provided in any of the Loan Documents, California law governs the Loan Documents without regard to principles of
conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Bank from
bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in
advance to such jurisdiction in any action or suit commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the
granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons,
complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of this Agreement and that service so made shall be
deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH
PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR
RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be decided by a
reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California Code of Civil Procedure § 638
(or pursuant to comparable provisions of federal law if the dispute 

  
 23 

 
falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties hereby submit to the jurisdiction of such court. The
reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure Sections 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional
relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto
shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the Santa
Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be
entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders
applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall
report a statement of decision thereon pursuant to California Code of Civil Procedure Section 644(a). Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or
obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. 

This Section 11 shall survive the termination of this Agreement. 

12. GENERAL PROVISIONS 

12.1 Termination Prior to Revolving Line Maturity Date; Survival. All covenants, representations and warranties made in this Agreement
continue in full force until this Agreement has terminated pursuant to its terms and all Obligations have been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations, any other obligations which, by
their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement), this Agreement may be terminated prior to the
Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank subject to payment of any fees due under Section 2.5(c) of this Agreement. Those obligations that are
expressly specified in this Agreement as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination. 

12.2 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower
may not assign this Agreement or any rights or obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s discretion). Bank has the right, without the consent of or notice to Borrower, to sell,
transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents. 

  
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 12.3 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its
directors, officers, employees, agents, attorneys, or any other Person affiliated with or representing Bank (each, an “Indemnified Person”) harmless against: (i) all obligations, demands, claims, and liabilities (collectively,
“Claims”) claimed or asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (ii) all losses or expenses (including Bank Expenses) in any way suffered, incurred, or paid by such
Indemnified Person as a result of, following from, consequential to, or arising from transactions between Bank and Borrower (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly caused by such Indemnified
Person’s gross negligence or willful misconduct. 
 This Section 12.3 shall survive until all statutes of limitation with
respect to the Claims, losses, and expenses for which indemnity is given shall have run. 
 12.4 Time of Essence. Time is of the
essence for the performance of all Obligations in this Agreement. 
 12.5 Severability of Provisions. Each provision of this Agreement
is severable from every other provision in determining the enforceability of any provision. 
 12.6 Correction of Loan
Documents. Bank may correct patent errors and fill in any blanks in the Loan Documents consistent with the agreement of the parties. 

12.7 Amendments in Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver, discharge or
termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or admission is sought. Without limiting the
generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect on any Loan
Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or
commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations
between the parties about the subject matter of the Loan Documents merge into the Loan Documents. 
 12.8 Counterparts. This
Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

12.9 Confidentiality. In handling any confidential information, Bank shall exercise the same degree of care that it exercises for its
own proprietary information, but disclosure of information may be made: (a) to Bank’s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together with Bank, collectively, “Bank Entities”); (b) to
prospective transferees or purchasers of any interest in the Credit Extensions (provided, however, Bank shall use its best 

  
 25 

 
efforts to obtain any prospective transferee’s or purchaser’s agreement to the terms of this provision); (c) as required by law, regulation, subpoena, or other order; (d) to
Bank’s regulators or as otherwise required in connection with Bank’s examination or audit; (e) as Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of Bank so
long as such service providers have executed a confidentiality agreement with Bank with terms no less restrictive than those contained herein. Confidential information does not include information that is either: (i) in the public domain or in
Bank’s possession when disclosed to Bank, or becomes part of the public domain (other than as a result of its disclosure by Bank in violation of this Agreement) after disclosure to Bank; or (ii) disclosed to Bank by a third party, if Bank
does not know that the third party is prohibited from disclosing the information. 
 Bank Entities may use anonymous forms of confidential
information for aggregate datasets, for analyses or reporting, and for any other uses not expressly prohibited in writing by Borrower. The provisions of the immediately preceding sentence shall survive termination of this Agreement. 

12.10 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between Borrower and Bank arising out of or relating
to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be entitled. 

12.11 Electronic Execution of Documents. The words “execution,” “signed,” “signature” and words of like
import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use of a
paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act. 

12.12 Captions. The headings used in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.

 12.13 Construction of Agreement. The parties mutually acknowledge that they and their attorneys have participated in the
preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist. 

12.14 Relationship. The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement. The
parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract. 

12.15 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights or
remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any person not an express party to
this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 

  
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 12.16 Intercreditor Agreement. The parties acknowledge that the covenants and
delivery requirements hereunder may be limited or modified by the requirements of the Intercreditor Agreement. 
 13.
DEFINITIONS 
 13.1 Definitions. As used in the Loan Documents, the word “shall” is mandatory, the word
“may” is permissive, the word “or” is not exclusive, the words “includes” and “including” are not limiting, the singular includes the plural, and numbers denoting amounts that are set off in brackets are
negative. As used in this Agreement, the following capitalized terms have the following meanings: 
 “Account” is any
“account” as defined in the Code with such additions to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to Borrower. 

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter
be made. 
 “Advance” or “Advances” means a revolving credit loan (or revolving credit loans) under the
Revolving Line. 
 “Affiliate” is, with respect to any Person, each other Person that owns or controls directly or
indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company,
that Person’s managers and members. 
 “Agreement” is defined in the preamble hereof. 

“Authorized Signer” is any individual listed in Borrower’s Borrowing Resolution (as may be updated) who is authorized to
execute the Loan Documents, including any Advance request, on behalf of Borrower. 
 “Availability Amount” is (a) the
lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances. 

“Bank” is defined in the preamble hereof. 

“Bank Entities” is defined in Section 12.9. 

“Bank Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses)
for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to Borrower or
any Guarantor. 

  
 27 

 “Bank Services” are any products, credit services, and/or financial
accommodations previously, now, or hereafter provided to Borrower or any of its Subsidiaries by Bank or any Bank Affiliate, including, without limitation, any letters of credit, cash management services (including, without limitation, merchant
services, direct deposit of payroll, business credit cards, and check cashing services), interest rate swap arrangements, and foreign exchange services as any such products or services may be identified in Bank’s various agreements related
thereto (each, a “Bank Services Agreement”). 
 “Borrower” is defined in the preamble hereof. 

“Borrower’s Books” are all Borrower’s books and records including ledgers, federal and state tax returns,
records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Base” is eighty percent (80%) of Eligible Accounts, as determined by Bank from Borrower’s most
recent Transaction Report; provided, however, that Bank has the right to decrease the foregoing percentage in its good faith business judgment to mitigate the impact of events, conditions, contingencies, or risks which may adversely affect the
Collateral or its value. 
 “Borrowing Resolutions” are, with respect to any Person, those resolutions
substantially in the form attached hereto as Exhibit C. 
 “Business Day” is any day that is not a
Saturday, Sunday or a day on which Bank is closed. 
 “Cash Equivalents” means (a) marketable direct
obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one
(1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) Bank’s certificates of deposit issued maturing no more than one
(1) year after issue; and (d) money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 

“Claims” is defined in Section 12.3. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of
California; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article
or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any Collateral is governed by
the Uniform Commercial Code in effect in a jurisdiction other than the State of California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the
provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

  
 28 

 “Collateral” is any and all properties, rights and assets of Borrower described
on Exhibit A. 
 “Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

“Commitment Fee” is defined in Section 2.5(a). 

“Commodity Account” is any “commodity account” as defined in the Code with such additions to such term as may
hereafter be made. 
 “Compliance Certificate” is that certain certificate in the form attached hereto as
Exhibit B. 
 “Contingent Obligation” is, for any Person, any direct or indirect liability, contingent
or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation, in each case, directly or indirectly guaranteed, endorsed, co made, discounted or sold with recourse by
that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement,
interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include
endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably
anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains
a Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such
Deposit Account, Securities Account, or Commodity Account. 
 “Copyrights” are any and all copyright rights,
copyright applications, copyright registrations and like protections in each work of authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Credit Extension” is any Advance, any Overadvance, or any other extension of credit by Bank for Borrower’s benefit.

 “Default Rate” is defined in Section 2.4(b). 

  
 29 

 “Deferred Revenue” is all amounts received or invoiced in advance of
performance under contracts and not yet recognized as revenue. 
 “Deposit Account” is any “deposit
account” as defined in the Code with such additions to such term as may hereafter be made. 
 “Designated Deposit
Account” is the multicurrency account denominated in Dollars, account number xxxxxxx            (last three digits), maintained by Borrower with Bank. 

“Dollars,” “dollars” or use of the sign “$” means only lawful money of the United
States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

“Dollar Equivalent” is, at any time, (a) with respect to any amount denominated in Dollars, such amount, and
(b) with respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of the then-prevailing rate of exchange in San Francisco, California, for sales of the
Foreign Currency for transfer to the country issuing such Foreign Currency. 
 “Domestic Subsidiary” means a
Subsidiary organized under the laws of the United States or any state or territory thereof or the District of Columbia. 

“Effective Date” is defined in the preamble hereof. 

“Eligible Accounts” means Accounts which arise in the ordinary course of Borrower’s business that meet all
Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time after the Effective Date to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless
Bank otherwise agrees in writing, Eligible Accounts shall not include: 
 (a) Accounts for which the Account Debtor is Borrower’s
Affiliate, officer, employee, or agent; 
 (b) Accounts that the Account Debtor has not paid within ninety (90) days of invoice date
regardless of invoice payment period terms; 
 (c) Accounts with credit balances over ninety (90) days from invoice date; 

(d) Accounts owing from an Account Debtor if fifty percent (50%) or more of the Accounts owing from such Account Debtor have not been paid
within ninety (90) days of invoice date; 
 (e) Accounts owing from an Account Debtor which does not have its principal place of
business in the United States unless otherwise approved by Bank in writing on a case-by-case basis in its sole discretion; 
 (f) Accounts
billed from and/or payable to Borrower outside of the United States unless Bank has a first priority, perfected security interest or other enforceable Lien in such Accounts under all applicable laws, including foreign laws (sometimes called foreign
invoiced accounts); 

  
 30 

 (g) Accounts owing from an Account Debtor to the extent that Borrower is indebted or obligated in
any manner to the Account Debtor (as creditor, lessor, supplier or otherwise—sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts) to the extent of such obligation; 

(h) Accounts owing from an Account Debtor which is a United States government entity or any department, agency, or instrumentality thereof
unless Borrower has assigned its payment rights to Bank and the assignment has been acknowledged under the Federal Assignment of Claims Act of 1940, as amended; 

(i) Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on a “sale guaranteed”, “sale
or return”, “sale on approval”, or other terms if Account Debtor’s payment may be conditional; 
 (j) Accounts owing from
an Account Debtor where goods or services have not yet been rendered to the Account Debtor (sometimes called memo billings or pre-billings); 

(k) Accounts subject to contractual arrangements between Borrower and an Account Debtor where payments shall be scheduled or due according to
completion or fulfillment requirements where the Account Debtor has a right of offset for damages suffered as a result of Borrower’s failure to perform in accordance with the contract (sometimes called contracts accounts receivable, progress
billings, milestone billings, or fulfillment contracts); 
 (l) Accounts owing from an Account Debtor the amount of which may be subject to
withholding based on the Account Debtor’s satisfaction of Borrower’s complete performance (but only to the extent of the amount withheld; sometimes called retainage billings); 

(m) Accounts subject to trust provisions, subrogation rights of a bonding company, or a statutory trust; 

(n) Accounts owing from an Account Debtor that has been invoiced for goods that have not been shipped to the Account Debtor unless Bank,
Borrower, and the Account Debtor have entered into an agreement acceptable to Bank wherein the Account Debtor acknowledges that (i) it has title to and has ownership of the goods wherever located, (ii) a bona fide sale of the goods has
occurred, and (iii) it owes payment for such goods in accordance with invoices from Borrower (sometimes called “bill and hold” accounts); 

(o) Accounts for which the Account Debtor has not been invoiced; 

(p) Accounts that represent non-trade receivables or that are derived by means other than in the ordinary course of Borrower’s business;

 (q) Accounts for which Borrower has permitted Account Debtor’s payment to extend beyond ninety (90) days; 

  
 31 

 (r) Accounts arising from chargebacks, debit memos or other payment deductions taken by an
Account Debtor; 
 (s) Accounts arising from product returns and/or exchanges (sometimes called “warranty” or “RMA”
accounts); 
 (t) Accounts in which the Account Debtor disputes liability or makes any claim (but only up to the disputed or claimed amount),
or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; 
 (u) Accounts owing from an
Account Debtor with respect to which Borrower has received Deferred Revenue (but only to the extent of such Deferred Revenue); 
 (v)
Accounts owing from an Account Debtor, whose total obligations to Borrower exceed twenty-five percent (25%) of all Accounts, for the amounts that exceed that percentage, unless Bank approves in writing; and 

(w) Accounts for which Bank in its good faith business judgment determines collection to be doubtful, including, without limitation, accounts
represented by “refreshed” or “recycled” invoices. 
 “Equipment” is all “equipment”
as defined in the Code with such additions to such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 

“Event of Default” is defined in Section 8. 

“Exchange Act” is the Securities Exchange Act of 1934, as amended. 

“Foreign Currency” means lawful money of a country other than the United States. 

“Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a
Business Day. 
 “FX Contract” is any foreign exchange contract by and between Borrower and Bank under which
Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency on a specified date. 

“GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles
Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of the
accounting profession, which are applicable to the circumstances as of the date of determination. 

  
 32 

 “General Intangibles” is all “general intangibles” as defined
in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles,
contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and
business interruption insurance), payments of insurance and rights to payment of any kind. 
 “Good Faith Deposit”
is defined in Section 2.5(b). 
 “Governmental Approval” is any consent, authorization, approval, order,
license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Guarantor” is any Person providing a Guaranty in favor of Bank. 

“Guaranty” is any secured guarantee of all or any part of the Obligations, as the same may from time to time be
amended, restated, modified or otherwise supplemented. 
 “HRP” means HealthCare Royalty Partners II, L.P., a
Delaware limited partnership, its successors and assigns. 
 “HRP Liens” means Liens arising under the HRP
Loan Documents as subject to the terms and conditions of the Intercreditor Agreement. 
 “HRP Loan Agreement” means
that certain Loan Agreement dated February 28, 2014, by and between Borrower and HRP, as the same may be amended, restated, or otherwise modified from time to time. 

“HRP Loan Documents” are, collectively, the HRP Loan Agreement, the Security Agreement between Borrower and HRP dated
February 28, 2014, any note, or notes or guaranties executed by Borrower or any other Person and any other present or future agreement between Borrower and HRP in connection with the foregoing, all as amended, restated or otherwise modified
from time to time. 
 “Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property
or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and (d) Contingent
Obligations. 
 “Indemnified Person” is defined in Section 12.3. 

  
 33 

 “Initial Audit” is Bank’s initial inspection of Borrower’s
Accounts, the Collateral, and Borrower’s Books with results satisfactory to Bank in its sole and absolute discretion. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any
other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Intellectual Property” means, with respect to any Person, means all of such Person’s right, title, and interest
in and to the following: 
 (a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how, operating
manuals; 
 (c) any and all source code; 

(d) any and all design rights which may be available to such Person; 

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the
obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 
 (f)
all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 
 “Intercreditor Agreement” is
that certain Intercreditor Agreement between HRP and Bank dated as of the Effective Date, as the same may be amended, restated, or otherwise modified from time to time. 

“Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to
such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily
out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other
securities), and any loan, advance or capital contribution to any Person. 
 “Letter of Credit” is a standby
or commercial letter of credit issued by Bank upon request of Borrower based upon an application, guarantee, indemnity, or similar agreement. 

“Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance of any kind,
whether voluntarily incurred or arising by operation of law or otherwise against any property. 

  
 34 

 “Loan Documents” are, collectively, this Agreement and any schedules,
exhibits, certificates, notices, and any other documents related to this Agreement, the Intercreditor Agreement, any Bank Services Agreement, any subordination agreement, any note, or notes or guaranties executed by Borrower or any Guarantor, and
any other present or future agreement by Borrower and/or any Guarantor with or for the benefit of Bank in connection with this Agreement or Bank Services, all as amended, restated, or otherwise modified. 

“Material Adverse Change” is (a) a material impairment in the perfection or priority of Bank’s Lien in the
Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment of any portion of the
Obligations. 
 “Monthly Financial Statements” is defined in Section 6.2(c). 

“Net Cash” is the sum of all of unrestricted cash held at or through Bank and Bank’s Affiliates less outstanding
Advances. 
 “Obligations” are Borrower’s obligations to pay when due any debts, principal, interest,
fees, Bank Expenses, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents, or otherwise, including, without limitation, all obligations relating to letters of credit (including reimbursement
obligations for drawn and undrawn letters of credit), cash management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to
Bank, and to perform Borrower’s duties under the Loan Documents. 
 “Operating Documents” are, for any
Person, such Person’s formation documents, as certified by the Secretary of State (or equivalent agency) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days prior to the Effective Date,
and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its
partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 

“Overadvance” is defined in Section 2.2. 

“Patents” means all patents, patent applications and like protections including without limitation improvements,
divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 
 “Perfection
Certificate” is defined in Section 5.1. 
 “Permitted Indebtedness” is: 

(a) Borrower’s Indebtedness to Bank under this Agreement and the other Loan Documents; 

  
 35 

 (b) Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 

(c) Subordinated Debt; 
 (d)
unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 
 (e) Indebtedness incurred as a result of endorsing
negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness secured by Liens permitted under clauses (a) and
(c) of the definition of “Permitted Liens” hereunder; 
 (g) Indebtedness arising under the HRP Loan Documents in the maximum
principal amount not to exceed that specified in the Intercreditor Agreement at any time and subject to the terms and conditions of the Intercreditor Agreement; 

(h) Indebtedness constituting a Permitted Investment under clause (f) of the definition of Permitted Investments; 

(i) customer deposits and advance payments received in the ordinary course of business; 

(j) other unsecured Indebtedness not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate amount outstanding at any time;
and 
 (k) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through
(j) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date and shown on the Perfection Certificate; 

(b) (i) Investments consisting of Cash Equivalents and (ii) any Investments permitted by Borrower’s investment policy, as amended
from time to time, provided that such investment policy (and any such amendment thereto) has been approved in writing by Bank; 
 (c)
Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower; 

(d) Investments consisting of deposit accounts in which Bank has a perfected security interest; 

(e) Investments accepted in connection with Transfers permitted by Section 7.1; 

  
 36 

 (f) Investments (i) by Borrower in Guarantors and by Guarantors in other Guarantors of
Borrower, (ii) by Subsidiaries that are not Guarantors in other Subsidiaries that are not Guarantors and (ii) by Borrower or Guarantors in Subsidiaries that are not Guarantors not to exceed Fifty Thousand Dollars ($50,000) in the aggregate
in any fiscal year or in Borrower; 
 (g) Investments consisting of (i) travel advances and employee relocation loans and other employee
loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements
approved by Borrower’s Board of Directors; 
 (h) Investments (including debt obligations) received in connection with the bankruptcy or
reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not
Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of Borrower in any Subsidiary; and 

(j) other Investments in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in any fiscal year. 

“Permitted Liens” are: 

(a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the other Loan Documents;

 (b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being
contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations
adopted thereunder; 
 (c) purchase money Liens (including capital leases) (i) on Equipment (including additions, accessions and
improvements thereto and the proceeds thereof) acquired or held by Borrower incurred for financing the acquisition of the Equipment, or (ii) existing on Equipment when acquired, if the Lien is confined to the Equipment, and additions,
accessions and improvements thereto and the proceeds of the Equipment; 
 (d) Liens of carriers, warehousemen, suppliers, or other Persons
that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to Inventory and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate
proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

  
 37 

 (e) Liens to secure payment of workers’ compensation, employment insurance, old-age
pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 
 (f)
Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and
the principal amount of the indebtedness may not increase; 
 (g) leases or subleases of real property granted in the ordinary course of
Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the
ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest
therein; 
 (h) non-exclusive licenses of Intellectual Property granted to third parties in the ordinary course of business, and licenses of
Intellectual Property that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discrete geographical areas outside of the
United States; 
 (i) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default
under Sections 8.4 and 8.7; 
 (j) the HRP Liens subject to the priorities and other provisions set forth in the Intercreditor
Agreement; 
 (k) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in
connection with the importation of goods; and 
 (l) Liens in favor of Bank’s Affiliates arising in connection with Borrower’s
securities accounts held at such institutions, provided that Bank has a perfected security interest in the amounts held in such securities accounts. 

“Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company,
trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prime Rate” is the rate of interest per annum from time to time published in the money rates section of The Wall Street
Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates section of The Wall Street Journal, becomes unavailable
for any reason as determined by Bank, the “Prime Rate” shall mean the rate of interest per annum announced by Bank as its prime rate in effect at its principal office in the State of California (such Bank announced Prime Rate not being
intended to be the lowest rate of interest charged by Bank in connection with extensions of credit to debtors). 

  
 38 

 “Registered Organization” is any “registered organization” as
defined in the Code with such additions to such term as may hereafter be made. 
 “Requirement of Law” is as
to any Person, the organizational or governing documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or
binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Reserves” means, as of any date of determination, such amounts as Bank may from time to time establish and revise in
its good faith business judgment, reducing the amount of Advances and other financial accommodations which would otherwise be available to Borrower (a) to reflect events, conditions, contingencies or risks which, as determined by Bank in its
good faith business judgment, do or may adversely affect (i) the Collateral or any other property which is security for the Obligations or its value (including without limitation any increase in delinquencies of Accounts), (ii) the assets,
business or prospects of Borrower or any Guarantor, or (iii) the security interests and other rights of Bank in the Collateral (including the enforceability, perfection and priority thereof); or (b) to reflect Bank’s reasonable belief
that any collateral report or financial information furnished by or on behalf of Borrower or any Guarantor to Bank is or may have been incomplete, inaccurate or misleading in any material respect; or (c) in respect of any state of facts which
Bank determines constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default. 

“Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer and Controller of
Borrower.  
 “Revolving Line” is an aggregate principal amount equal to Seven Million Five Hundred Thousand
Dollars ($7,500,000). 
 “Revolving Line Maturity Date” is February 11, 2018. 

“SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental
Authority. 
 “Securities Account” is any “securities account” as defined in the Code with such
additions to such term as may hereafter be made. 
 “Streamline Period” is, on and after the Effective Date,
provided no Event of Default has occurred and is continuing, the period (a) commencing on the first day of the month following the day that Borrower provides to Bank a written report that Borrower has, for each consecutive day in the
immediately preceding two (2) calendar months, Net Cash in an amount at all times greater than Three Million Dollars ($3,000,000) (the “Streamline Balance”), as determined by Bank in its discretion; and (b) terminating on
the earlier to occur of (i) the occurrence of an Event of Default, and (ii) the first day thereafter in which Borrower fails to maintain the Streamline Balance, as determined by Bank in its discretion. Upon the termination of a Streamline
Period, Borrower must maintain the Streamline Balance each consecutive day for two (2) consecutive calendar months, prior to entering into a subsequent Streamline Period. Borrower shall give Bank prior written notice of Borrower’s election
to enter into any such Streamline Period. 

  
 39 

 “Subordinated Debt” is indebtedness incurred by Borrower subordinated to
all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to
Bank. 
 “Subsidiary” is, as to any Person, a corporation, partnership, limited liability company or other
entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of
directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the
context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower or Guarantor. 

“Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transaction Report” is that certain report of transactions and schedule of collections in the form attached hereto as
Exhibit D. 
 “Transfer” is defined in Section 7.1. 

[Signature page follows.] 

  
 40 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
Effective Date. 
 BORROWER: 
 INVUITY, INC. 

 

			
	By:		 /s/ Philip Sawyer

	Name:		Philip Sawyer
	Title:		Chief Executive Officer

 BANK: 
 SILICON VALLEY BANK 

 

			
	By:		 /s/ Jason Hughes

	Name:		Jason Hughes
	Title:		DTL

 [Signature Page to Loan and Security Agreement] 

 EXHIBIT A – COLLATERAL DESCRIPTION 

The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 

All Accounts (including health-care receivables), Inventory, cash, and all bank accounts including, without limitation, all operating
accounts, depository accounts, savings accounts, and investment accounts, and all property contained therein, whether now owned or hereafter acquired, wherever located; and 

All Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions
for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 

  
 1 

 EXHIBIT B 

COMPLIANCE CERTIFICATE 

 

					
	TO:	  	SILICON VALLEY BANK	  	Date:                             
			
	FROM:	  	INVUITY, INC.	  	

 The undersigned authorized officer of INVUITY, INC. (“Borrower”) certifies that under the terms and
conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”): 
 (1) Borrower is in complete
compliance for the period ending              with all required covenants except as noted below; (2) there are no Events of Default; (3) all representations and warranties in the
Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by
materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; (4) Borrower, and each of its
Subsidiaries, has timely filed all required tax returns and reports except for tax returns and reports for amounts which do not exceed $100,000 in the aggregate, and Borrower has timely paid all foreign, federal, state and local taxes, assessments,
deposits and contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to
unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank. 
 Attached are the required
documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered.
Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate compliance status by
circling Yes/No under “Complies” column. 
  

					
	 
	 Reporting Covenants
	  	 Required
	  	Complies
	 Monthly financial statements with
 Compliance
Certificate
	  	Monthly within 30 days	  	Yes    No
			
	Annual financial statement (CPA Audited) + CC	  	FYE within 240 days (unaudited financial statements due FYE within 60 days when Board does not require audited financials)	  	Yes    No
			
	10-Q, 10-K and 8-K	  	Within 5 days after filing with SEC	  	Yes    No
			
	A/R & A/P Agings	  	Monthly within 20 days during Streamline Period; otherwise every Friday	  	Yes    No
			
	Transaction Report	  	Monthly within 30 days during Streamline Period; otherwise every Friday and with each Advance	  	Yes    No
			
	Annual financial projections	  	Within 30 days of Board approval	  	Yes    No

  

			
	Streamline Eligible
	 Net Cash
	 	 Streamline Period

	 Net Cash > $3,000,000
	 	Yes
		
	 Net Cash < $3,000,000
	 	No

  
 2 

 Other Matters 

 

			
	Have there been any amendments of or other changes to the capitalization table of Borrower and to the Operating Documents of Borrower or any of its Subsidiaries? If yes, provide copies of any such amendments or changes with this
Compliance Certificate.		Yes    No

 The following are the exceptions with respect to the certification above: (If no exceptions exist, state
“No exceptions to note.”) 
  

					
	INVUITY, INC.				BANK USE ONLY
			
	By:                                     
                                         
              				Received by:                                   
                                         
 
	Name:                                     
                                         
         				                                      
  AUTHORIZED SIGNER
	Title:                                     
                                         
           				  

Date:                         
                                         
                       
  

					Verified:                                    
                                         
      
					                                      
  AUTHORIZED SIGNER
					
Date:                         
                                         
                       
  

					Compliance Status:                     Yes    No

  
 3 

 EXHIBIT C 

Borrowing Resolutions 

  
 4 

 EXHIBIT D 

Transaction Report 

  
 5EX-10.8

 Exhibit 10.8 

LOAN AGREEMENT 
 Dated as of
February 28, 2014 
 among 

HEALTHCARE ROYALTY PARTNERS II, L.P., 

as Lender, 
 INVUITY, INC., 

as Borrower 
 and 

the Guarantors from time to time party hereto, 

as Guarantors 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	ARTICLE I CERTAIN DEFINITIONS	  
			
	 SECTION 1.01.
	 	Definitions	  	 	1	  
	 SECTION 1.02.
	 	UCC Terms	  	 	23	  
	 SECTION 1.03.
	 	Interpretation; Headings	  	 	23	  
	
	ARTICLE II COMMITMENT; DISBURSEMENT; FEES	  
			
	 SECTION 2.01.
	 	Commitment to Lend and Borrow	  	 	24	  
	 SECTION 2.02.
	 	Notice of Borrowing	  	 	24	  
	 SECTION 2.03.
	 	Disbursement and Borrowing	  	 	24	  
	 SECTION 2.04.
	 	Commitment Not Revolving	  	 	24	  
	
	ARTICLE III REPAYMENT	  
			
	 SECTION 3.01.
	 	Amortization	  	 	24	  
	 SECTION 3.02.
	 	Voluntary Prepayment; Mandatory Prepayment	  	 	25	  
	
	ARTICLE IV INTEREST; EXPENSES; MAKING OF PAYMENTS	  
			
	 SECTION 4.01.
	 	Interest Rate	  	 	26	  
	 SECTION 4.03.
	 	Interest on Late Payments	  	 	26	  
	 SECTION 4.04.
	 	Initial Expenses	  	 	27	  
	 SECTION 4.05.
	 	Administration and Enforcement Expenses	  	 	27	  
	 SECTION 4.06.
	 	Making of Payments	  	 	27	  
	 SECTION 4.07.
	 	Setoff or Counterclaim	  	 	27	  
	
	ARTICLE V TAXES	  
			
	 SECTION 5.01.
	 	Taxes	  	 	27	  
	 SECTION 5.02.
	 	Receipt of Payment	  	 	29	  
	 SECTION 5.03.
	 	Other Taxes	  	 	29	  
	 SECTION 5.04.
	 	Indemnification	  	 	29	  
	 SECTION 5.05.
	 	Tax Reporting	  	 	29	  
	 SECTION 5.06.
	 	Refunds	  	 	29	  
	 SECTION 5.07.
	 	Registered Obligation	  	 	30	  
	
	ARTICLE VI CLOSING CONDITIONS	  
			
	 SECTION 6.01.
	 	Loan Closing Documentation	  	 	30	  
	
	ARTICLE VII REPRESENTATIONS AND WARRANTIES	  
			
	 SECTION 7.01.
	 	Representations and Warranties of Borrower Parties	  	 	32	  
	 SECTION 7.02.
	 	Survival of Representations and Warranties	  	 	40	  

  
 -i- 

							
	 	 	 	  	Page	 
	
	ARTICLE VIII AFFIRMATIVE COVENANTS	  
			
	 SECTION 8.01.
	 	Maintenance of Existence	  	 	40	  
	 SECTION 8.02.
	 	Use of Proceeds	  	 	41	  
	 SECTION 8.03.
	 	Financial Statements and Information	  	 	41	  
	 SECTION 8.04.
	 	Books and Records	  	 	42	  
	 SECTION 8.05.
	 	Maintenance of Insurance and Properties	  	 	42	  
	 SECTION 8.06.
	 	Governmental Authorizations	  	 	42	  
	 SECTION 8.07.
	 	Compliance with Laws and Contracts	  	 	43	  
	 SECTION 8.08.
	 	Plan Assets	  	 	43	  
	 SECTION 8.09.
	 	Notices	  	 	43	  
	 SECTION 8.10.
	 	Payment of Taxes	  	 	44	  
	 SECTION 8.11.
	 	Waiver of Stay, Extension or Usury Laws	  	 	44	  
	 SECTION 8.12.
	 	Intellectual Property	  	 	44	  
	 SECTION 8.13.
	 	Security Documents; Further Assurances	  	 	45	  
	 SECTION 8.14.
	 	Information Regarding Collateral	  	 	46	  
	 SECTION 8.15.
	 	Additional Collateral; Additional Guarantors	  	 	46	  
	
	ARTICLE IX NEGATIVE COVENANTS	  
			
	 SECTION 9.01.
	 	Activities of Borrower	  	 	47	  
	 SECTION 9.02.
	 	Merger; Sale of Assets	  	 	48	  
	 SECTION 9.03.
	 	Liens	  	 	48	  
	 SECTION 9.04.
	 	Investment Company Act	  	 	48	  
	 SECTION 9.05.
	 	Limitation on Additional Indebtedness	  	 	48	  
	 SECTION 9.06.
	 	Limitation on Transactions with Controlled Affiliates	  	 	49	  
	 SECTION 9.07.
	 	ERISA	  	 	50	  
	 SECTION 9.08.
	 	Restricted Payments	  	 	50	  
	 SECTION 9.09.
	 	Amendment of Revolving Credit Facility and Organizational Documents	  	 	50	  
	
	ARTICLE X GUARANTEES	  
			
	 SECTION 10.01.
	 	Guarantees	  	 	50	  
	
	ARTICLE XI EVENTS OF DEFAULT	  
			
	 SECTION 11.01.
	 	Events of Default	  	 	53	  
	 SECTION 11.02.
	 	Default Remedies	  	 	53	  
	 SECTION 11.03.
	 	Right of Set-off; Sharing of Set-off	  	 	53	  
	 SECTION 11.04.
	 	Rights Not Exclusive	  	 	54	  
	
	ARTICLE XII INDEMNIFICATION	  
			
	 SECTION 12.01.
	 	Funding Losses	  	 	54	  
	 SECTION 12.02.
	 	Other Losses	  	 	54	  
	 SECTION 12.03.
	 	Assumption of Defense; Settlements	  	 	55	  

  
 -ii- 

							
	 	 	 	  	Page	 
	
	ARTICLE XIII MISCELLANEOUS	  
			
	 SECTION 13.01.
	 	Assignments	  	 	55	  
	 SECTION 13.02.
	 	Successors and Assigns	  	 	56	  
	 SECTION 13.03.
	 	Notices	  	 	56	  
	 SECTION 13.04.
	 	Entire Agreement	  	 	57	  
	 SECTION 13.05.
	 	Modification	  	 	57	  
	 SECTION 13.06.
	 	No Delay; Waivers; etc.	  	 	58	  
	 SECTION 13.07.
	 	Severability	  	 	58	  
	 SECTION 13.08.
	 	Determinations	  	 	58	  
	 SECTION 13.09.
	 	Replacement of Note	  	 	58	  
	 SECTION 13.10.
	 	Governing Law	  	 	58	  
	 SECTION 13.11.
	 	Jurisdiction	  	 	58	  
	 SECTION 13.12.
	 	Waiver of Jury Trial	  	 	58	  
	 SECTION 13.13.
	 	Waiver of Immunity	  	 	58	  
	 SECTION 13.14.
	 	Counterparts	  	 	59	  
	 SECTION 13.15.
	 	Limitation on Rights of Others	  	 	59	  
	 SECTION 13.16.
	 	No Partnership	  	 	59	  
	 SECTION 13.17.
	 	Survival	  	 	59	  
	 SECTION 13.18.
	 	Confidentiality	  	 	59	  
	 SECTION 13.19.
	 	Patriot Act Notification	  	 	61	  

  
 -iii- 

 Exhibits 
  

			
	Exhibit A		Form of Security Agreement
	Exhibit B		Form of Note
	Exhibit C		Form of Notice of Borrowing
	Exhibit D		Form of Borrower Corporate Counsel Opinion
		
	Exhibit E		Form of Assignment and Acceptance
	Exhibit F-1		Form of Perfection Certificate
	Exhibit F-2		Form of Perfection Certificate Supplement
	Exhibit G		Form of Warrants

  
 -iv- 

 This LOAN AGREEMENT (as may be amended, restated, supplemented or otherwise modified from time to
time, this “Agreement”), dated as of February 28, 2014, is entered into by and among HEALTHCARE ROYALTY PARTNERS II, L.P., a Delaware limited partnership, as lender, INVUITY, INC., a California corporation, as borrower (the
“Borrower”) and the Guarantors (as defined below) from time to time party hereto. 
 RECITALS 

WHEREAS, Borrower desires to borrow from the Lender, and the Lender desires to lend to Borrower, the Loans (this and other capitalized terms
used in these Recitals shall have the meanings provided in Article I below); 
 WHEREAS, on the terms and subject to the conditions set
forth herein, Borrower shall borrow from the Lender, and the Lender shall lend to Borrower, the First Tranche Term Loan on the Closing Date; 

WHEREAS, on the terms and subject to the conditions set forth herein, Borrower may elect to borrow from the Lender, and the Lender shall lend
to Borrower, the Second Tranche Term Loan; 
 NOW, THEREFORE, in consideration of the mutual promises of the Parties, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is mutually agreed by the Parties as follows: 

ARTICLE I 
 CERTAIN DEFINITIONS

 SECTION 1.01. Definitions. As used herein: 

“Affiliate” means any Person that controls, is controlled by, or is under common control with another Person. For purposes of
this definition, “control” shall mean (i) in the case of corporate entities, direct or indirect ownership of at least ten percent (10%) of the stock or shares having the right to vote for the election of directors, and
(ii) in the case of non-corporate entities, direct or indirect ownership of at least ten percent (10%) of the equity interest with the power to direct the management and policies of such non-corporate entities. 

“Agreement” is defined in the preamble hereto. 

“Aggregate Loan Amount” means the aggregate amount of the principal amount of the Loans funded pursuant to Section 2.01
hereof. 
 “Amortization Payments” means the principal payments of the Loans due under Section 3.01(a) hereof. 

“Articles” means the Amended and Restated Articles of Incorporation of Borrower. 

 “Assignee” means any other Person to which a Lender has assigned or is assigning
its rights and obligations hereunder, whether or in whole or in part. 
 “Assignment and Acceptance” means a written
instrument of assignment in the form set forth in Exhibit E, executed by and between the parties to an assignment under Section 13.01 hereof. 

“Bankruptcy Event” means the occurrence of any of the following: 

(i) (A) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent
jurisdiction seeking (x) relief in respect of any Borrower Party or any Subsidiary, or of a substantial part of the property of any Borrower Party or any Subsidiary, under any Bankruptcy Law now or hereafter in effect, (y) the appointment
of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Borrower Party or any Subsidiary or for a substantial part of the property of any Borrower Party or any Subsidiary or (z) the winding-up or liquidation of
any Borrower Party or any Subsidiary, which, in each case, shall continue undismissed for 60 calendar days or (B) an order of a court of competent jurisdiction approving or ordering any of the foregoing shall be entered; 

(ii) any Borrower Party or any Subsidiary shall (A) voluntarily commence any proceeding or file any petition seeking
relief under any Bankruptcy Law now or hereafter in effect, (B) apply for the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Borrower Party or any Subsidiary or for a substantial part of the
property of any Borrower Party or any Subsidiary, (C) fail to contest in a timely and appropriate manner any proceeding or the filing of any petition described in clause (i) of this definition, (D) file an answer admitting the
material allegations of a petition filed against it in any proceeding described in clause (i) of this definition, (E) make a general assignment for the benefit of creditors or (F) wind up or liquidate (except as permitted under this
Agreement); 
 (iii) any Borrower Party or any Subsidiary shall take any action in furtherance of or for the purpose of
effecting, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i) or (ii) of this definition; 

(iv) any Borrower Party or any Subsidiary shall admit in writing its inability, or fail generally, to pay its debts as they
become due; or 
 (v) any Borrower Party shall be in a financial condition such that the sum of its debts, as they become due
and mature, is greater than the fair value of its property on a going concern basis, when taken together on a consolidated basis with its Subsidiaries which are party to the Loan Documents. 

“Bankruptcy Law” means Title 11 of the United States Code entitled “Bankruptcy” and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the U.S. or other applicable jurisdictions (domestic or foreign) from time to
time in effect and affecting the rights of creditors generally. 

  
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 “Borrower” is defined in the preamble hereto. 

“Borrower Parties” means, at any time, Borrower and the Guarantors. 

“Borrower Party” means, at any time, Borrower or any of the Guarantors. 

“Borrower Party Documents” means, with respect to any Borrower Party, the certificate of incorporation (or equivalent) of
such Borrower Party certified by the Secretary of State (or equivalent) of its jurisdiction of organization and the by-laws (or similar Governmental Authority) of such Borrower Party (and any similar documentation of any Subsidiary of any Borrower
Party which becomes party to the Loan Documents). 
 “Bridge Financing” means unsecured Indebtedness issued or incurred by
the Borrower, which Indebtedness (i) is automatically converted into equity of the Borrower upon the earlier of (a) the next round of equity financing of the Borrower or (b) upon the occurrence and during the continuance of an Event
of Default, at the request of the Lender, (ii) is not guaranteed by any Subsidiary of the Borrower and (iii) is issued subject to a subordination agreement satisfactory to Lender that does not permit cash payments of principal or interest
until the earliest of (a) the issuance of non-redeemable equity by the Borrower with proceeds sufficient to pay the Bridge Financing in full, (b) the sale of substantially all the assets or equity of the Borrower, whether by direct sale,
merger or otherwise or (c) the date 91 days after the Scheduled Maturity Date of the Loans. 
 “Bring-Down
Certificate” is defined in Section 6.01(h). 
 “Business Day” means any day, except a Saturday, Sunday or
other day on which commercial banks in New York are required or authorized by law to close. 
 “Calendar Year 2017” means
the year ended December 31, 2017. 
 “Calendar Year 2018” means the year ended December 31, 2018. 

“Calendar Year 2019” means the year ended December 31, 2019. 

“Calendar Year 2020” means the year ended December 31, 2020. 

“Capital Stock” of any Person means any and all shares, interests, ownership interest units, rights to purchase, warrants,
options, participations or other equivalents of or interests in (however designated, whether voting or nonvoting) equity of such Person, including any preferred stock, but excluding Indebtedness convertible into or exchangeable for such equity and
excluding, for the avoidance of doubt, shareholder loans. 

  
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 “CFC” means a Foreign Subsidiary that is a controlled foreign corporation within
the meaning of Section 957 of the Code. 
 “Change of Control” means: 

(i) the acquisition by any Person or group (within the meaning of Sections 13(d)(3) or 14(d)(2) of the Exchange Act) (other
than any trustee or other fiduciary holding securities under an employee benefit plan of Borrower or any entity controlled, directly or indirectly, by Borrower) of beneficial ownership of any Capital Stock of Borrower, if after such acquisition,
such Person or group would be the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Borrower representing more than fifty percent (50%) of the combined voting power of
Borrower then outstanding securities entitled to vote generally in the election of directors; or 
 (ii) during any one year
period, individuals who at the beginning of such period constitute the Board of Directors of Borrower (together with any new directors (other than a director designated by a Person who has entered into an agreement with Borrower to effect a
transaction described in clause (i) of this definition of “Change of Control”), whose election by such Board of Directors or nomination for election by Borrower’s shareholders, as applicable, was approved by a vote of a
majority of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute at least a majority of the Board of
Directors of Borrower then in office. 
 “Closing Date” means either the First Closing Date or the Second Closing Date.

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means, with respect to Borrower and any other Borrower Party granting a security interest in its assets in favor
of Lender, all “Collateral”, as such term is defined in the Security Agreement. 
 “Confidential Information”
means any and all information, whether communicated orally or in any physical form, including without limitation, financial and all other information which Disclosing Party or its authorized Representatives provide to the Receiving Party, together
with such portions of analyses, compilations, studies, or other documents, prepared by or for the Receiving Party and its Representatives, which contain or are derived from information provided by Disclosing Party. Without limiting the foregoing,
information shall be deemed to be provided by Disclosing Party to the extent it is learned or derived by Receiving Party or Receiving Party’s Representatives (a) from any inspection, examination or other review of books, records,
contracts, other documentation or operations of Disclosing Party, (b) from communications with authorized Representatives of Disclosing Party or (c) created, developed, gathered, prepared or otherwise derived by Receiving Party while in
discussions with Disclosing Party. However, Confidential Information does not include any information which Receiving Party can demonstrate (i) is or becomes part of the public domain through no fault of Receiving Party or its Representatives,
(ii) was known by Receiving Party on a non-confidential basis prior to disclosure, 

  
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or (iii) was independently developed by Persons who were not given access to the Confidential Information disclosed to Receiving Party by Disclosing Party. For purposes of this Agreement,
the party disclosing the Confidential Information shall be referred to as “Disclosing Party” and the party receiving the Confidential Information shall be referred to as the “Receiving Party.” 

“Confidentiality Agreement” means that certain Confidentiality Agreement by and between Borrower and Healthcare Royalty
Management, LLC, dated as of October 24, 2013. 
 “Contract” means any agreement, contract, lease, commitment, license
and other arrangement which is legally binding. 
 “Contract Party” means any party to a Material Contract. 

“Controlled Affiliate” with respect to any Person means any Person directly or indirectly controlling, controlled by or under
common control with, such Person. For the purposes of this Agreement, “control” (including, with correlative meaning, the terms “controlling” and “controlled”) means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 

“Copyrights” shall mean, collectively, with respect to each Pledgor, all copyrights (whether statutory or common law, whether
established or registered in the U.S. or any other country or any political subdivision thereof, whether registered or unregistered and whether published or unpublished) and all copyright registrations and applications made by such Pledgor, in each
case, whether now owned or hereafter created or acquired by or assigned to such Pledgor, together with any and all (i) rights and privileges arising under applicable Law with respect to such Pledgor’s use of such copyrights,
(ii) reissues, renewals, continuations and extensions thereof and amendments thereto, (iii) income, fees, royalties, damages, claims and payments now or hereafter due and/or payable with respect thereto, including damages and payments for
past, present or future infringements thereof, (iv) rights corresponding thereto throughout the world and (v) rights to sue for past, present or future infringements thereof. 

“Default” means any condition or event which constitutes an Event of Default or which, with the giving of notice or the lapse
of time or both (in each case to the extent described in the relevant subclauses of the definition of “Event of Default”) would, unless cured or waived, become an Event of Default. 

“Default Rate” means, for any period for which an amount is overdue, a rate per annum equal for each day in such period to
the lesser of (a) (3%) plus the rate otherwise applicable to the Loans as provided in Section 4.01 in respect of the Fixed Interest and (b) the maximum rate of interest permitted under applicable Law. 

“Deposit Account Control Agreement” means an agreement in writing reasonably acceptable to the Lender, by and among the
Lender and Borrower or its Subsidiaries and the relevant bank with respect to a Deposit Account at such bank, which, if required hereunder, is sufficient to perfect the security interests of the Lender therein. 

  
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 “Deposit Accounts” shall mean, collectively, with respect to each Pledgor,
(i) all “deposit accounts” as such term is defined in the UCC and all accounts and sub-accounts relating to any of the foregoing accounts and (ii) all cash, funds, checks, notes and instruments from time to time on deposit in any
of the accounts or sub-accounts described in clause (i) of this definition. 
 “Disclosure Letter” means the
disclosure letter, dated as of the date hereof, delivered by the Borrower to the Lender. 
 “Dispute” means, with respect a
particular agreement, matter or Person, any opposition, interference, reexamination, injunction, claim, lawsuit, proceeding, hearing, investigation, complaint, arbitration, mediation, demand, International Trade Commission investigation, decree,
inter partes review, invalidation proceeding or any other dispute, disagreement, or claim, with respect to such agreement, matter or Person. 

“Disqualified Capital Stock” of any Person means any class of Capital Stock of such Person that, by its terms, or by the
terms of any related agreement or of any security into which it is convertible, puttable or exchangeable, is, or upon the happening of any event or the passage of time would be, required to be redeemed by such Person, whether or not at the option of
the holder thereof, or matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, in whole or in part, on or prior to the date which is 91 days after the final Maturity Date; provided, however, that any
class of Capital Stock of such Person that, by its terms, authorizes such Person to satisfy in full its obligations with respect to the payment of dividends or upon maturity, redemption (pursuant to a sinking fund or otherwise) or repurchase thereof
or otherwise by the delivery of Capital Stock that is not Disqualified Capital Stock, and that is not convertible, puttable or exchangeable for Disqualified Capital Stock or Indebtedness, will not be deemed to be Disqualified Capital Stock so long
as such Person satisfies its obligations with respect thereto solely by the delivery of Capital Stock that is not Disqualified Capital Stock. 

“Distributor” means any Third Party that purchases or acquires any Included Product from Borrower or any of its Subsidiaries
for commercial distribution in any country or jurisdiction in the Territory. 
 “Dollars” or “$” means
lawful money of the U.S. 
 “Domestic CFC Holdco” means a domestic Subsidiary that has no material assets other than equity
in one or more Foreign Subsidiaries that are CFCs. 
 “EMA” means the European Medicines Agency. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder.

 “ERISA Affiliate” at any time means each trade or business (whether or not incorporated) that would, at any time, be
treated, together with any Borrower Party or any of their respective Subsidiaries, as a single employer under Title IV or Section 302 of ERISA or Section 412 of the Code. 

  
 -6- 

 “Equity Investment Documents” means (i) the Series E Preferred Stock
Purchase Agreement, dated February 28, 2014, by and among Borrower and each of the investors listed on the Schedule A thereto, (ii) the Articles, (iii) the Third Amended and Restated Voting Agreement, dated February 28, 2014, by
and among Borrower and the persons and entities listed on Schedule A and Schedule B thereto, (iv) the Third Amended and Restated Right of First Refusal and Co-Sale Agreement, dated February 28, 2014, by and among the Borrower and each of
the persons and entities listed on Schedule A and Schedule B thereto and (v) the Third Amended and Restated Investor Rights Agreement, dated February 28, 2014, between Borrower and each of the investors listed on Schedule A and Schedule B
thereto. 
 “Event of Default” means the occurrence of one or more of the following: 

(a) Borrower fails to pay any principal of the Loans when due, whether on the Maturity Date or otherwise. 

(b) Borrower fails to pay any interest on the Loans (including, without limitation, Fixed Interest) or make payment of any other amounts
payable under this Agreement within three Business Days after the same becomes due and payable. 
 (c) Any representation or warranty of
Borrower or any of its Subsidiaries in any Transaction Document to which it is party or in any certificate, financial statement or other document delivered by Borrower or such Subsidiary in connection with this Agreement proves to have not been true
and correct in all material respects at the time it was made or deemed made (except that any representation or warranty that is qualified as to “materiality” or “Material Adverse Effect”, or by reference to an objective standard
(e.g., a specified Dollar amount), shall be true and correct in all respects). 
 (d) Borrower fails to perform or observe any covenant or
agreement contained in Section 8.01 (other than clause (a)(ii) thereof), 8.02, 8.03, 8.09, 8.10, 8.15 or Article IX. 
 (e) Borrower or
any of its Subsidiaries party to the Loan Documents fails to perform or observe any other covenant or agreement contained in this Agreement or the other Loan Documents (other than those referred to in the preceding clauses of this definition) if
such failure is not remedied on or before the 15th day after Notice thereof from the Lender. 

(f) Borrower or any of its Subsidiaries (i) fails to pay when due (whether by scheduled maturity, required prepayment, acceleration,
demand or otherwise) any Indebtedness (other than the Obligations hereunder) having an aggregate principal amount in excess of the Threshold Amount or (ii) fails to perform or observe any covenant or agreement to be performed or observed by it
contained in any agreement or in any instrument evidencing any of its Indebtedness having an aggregate principal amount in excess of the Threshold Amount and, as a result of such failure, any other party to that agreement or instrument is entitled
to exercise the right to accelerate the maturity of any Indebtedness thereunder. 
 (g) Any uninsured judgment, decree or order in excess of
the Threshold Amount shall be rendered against Borrower and any of its Subsidiaries and either (i) enforcement proceedings shall have been commenced upon such judgment, decree or order or (ii) such judgment, decree or order shall not have
been vacated or discharged within thirty days from entry. 

  
 -7- 

 (h) A Bankruptcy Event shall occur. 

(i) Any of the Loan Documents, the Articles or the Warrant shall cease to be in full force and effect or its validity or enforceability is
disaffirmed or challenged in writing by Borrower or any Subsidiary or Affiliate of Borrower, or this Agreement or the other Loan Documents, the Articles or the Warrant shall cease to give the Lender the rights purported to be created hereby or
thereby (including a first priority perfected Lien, subject only to Permitted Liens, on the assets of Borrower or any of its Subsidiaries party to the Loan Documents) other than as a direct result of any action by the Lender or failure of the Lender
to perform an obligation of the Lender hereunder. 
 (j) Borrower and/or any of its Subsidiaries fails to perform or observe any covenant or
agreement contained in any Material Contract or Borrower Party Documents, as applicable, and such failure is not cured or waived within any applicable grace period, except where such failure or cessation could not reasonably be expected to have a
Material Adverse Effect. 
 (k) Any security interest purported to be created by this Agreement or the Security Agreement or any other Loan
Document shall cease to be in full force and effect (other than through any action or inaction of Lender), or shall cease to give the rights, powers and privileges purported to be created and granted hereunder or thereunder (including a perfected
first priority security interest in and Lien on all of the Collateral (except as otherwise expressly provided herein and therein)) in favor of the party secured on behalf of the Lenders pursuant hereto or thereto, or shall be asserted by Borrower
and/or any of its Subsidiaries not to be a valid, perfected, first priority (except as otherwise expressly provided in this Agreement or such Security Agreement) security interest in the Collateral. 

“Exchange Act” means the Securities Exchange Act of 1934 and the regulations promulgated thereunder. 

“Excluded Taxes” means (i) any Taxes imposed on (or measured by) net income (including branch profits Taxes) of the
Lender, or any franchise or similar Taxes imposed in lieu thereof, by any Governmental Authority or taxing authority by the jurisdiction under the laws of which the Lender is organized or any jurisdiction in which the Lender is a resident, has an
office, conducts business or has another connection (other than a connection arising solely from having executed, delivered, enforced, become a party to, performed its obligations, received payments, received or perfected a security interest under,
and/or engaged in any other transaction pursuant to, any Transaction Document) and (ii) in the case of a Foreign Lender, any U.S. federal withholding tax that is imposed on amounts payable to such Foreign Lender (a) under law in effect at
the time such Foreign Lender becomes a party to this Agreement (or designates a new Office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Office (or assignment), to receive
additional amounts from Borrower with respect to such withholding tax pursuant to Section 5.01; (iii) any U.S. federal withholding tax pursuant to FATCA or (iv) any tax that is attributable to such Foreign Lender’s failure to
comply with Section 5.01(c) or (d). 

  
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 “Exclusively Licensed Patents” means the Patents exclusively licensed to a
Borrower Party (individually or to Borrower and its Subsidiaries collectively). 
 “Exploit” means, with respect to any
Included Product, the manufacture, use, sale, offer for sale (including marketing and promotion), importation, distribution or other commercialization; and “Exploitation” shall have the correlative meaning. 

“FATCA” means Sections 1471 through 1474 of the Code as of the First Closing Date (or any amended or successor version that
is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof any agreements entered into pursuant to Section 1471(b)(1) of the Code, and any law
implementing an intergovernmental agreement that is included in this definition. 
 “FCPA” means the Foreign Corrupt
Practices Act. 
 “FDA” means the United States Food and Drug Administration. 

“Financial Statements” means the consolidated balance sheets of Borrower and its Subsidiaries, audited at December 31,
2012, December 31, 2011 and December 31, 2010, and the related consolidated statements of operations and comprehensive loss, cash flows and changes in stockholders’ equity of Borrower and its Subsidiaries, audited for the years
ended December 31, 2012, December 31, 2011 and December 31, 2010, and the accompanying footnotes thereto, and the consolidated balance sheets of Borrower and its Subsidiaries as of September 30, 2013 and September 30,
2012, and the related consolidated statements of operations and comprehensive loss, cash flows and changes in stockholders’ equity of Borrower and its Subsidiaries for the nine months ended September 30, 2013 and September 30, 2012.

 “First Closing Date” means February 28, 2014. 

“First Commitment” means $10,000,000. 

“First Notice of Borrowing” means an irrevocable notice, substantially in the form set forth in Exhibit C hereto, to
be given by Borrower to the Lender in accordance with Section 2.02(a). 
 “First Tranche Term Loan” means the loan, in
the principal amount of $10,000,000, made by the Lender to Borrower on the First Closing Date pursuant to Section 2.01(a) hereof. 

“Fixed Interest” means, interest with respect to the Loans, accruing with respect to the outstanding principal balance
thereof at a rate per annum equal to 12.5%. 
 “Foreign Lender” means any Lender which is not a “United States
person” within the meaning of Section 7701(a)(30) of the Code. 
 “Foreign Subsidiary” means a Subsidiary that is
organized under the Laws of a jurisdiction other than the U.S. or any state thereof or the District of Columbia. 

  
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 “GAAP” means the generally accepted accounting principles in the U.S. in effect
from time to time; provided, that in the event such principles change after the Closing Date in a manner which affects compliance with this Agreement by Borrower and its Subsidiaries (including without limitation the determination of Included
Products Payments), such change shall be ignored for the purpose of determining such compliance until such time, if ever, as the Parties enter into an amendment to this Agreement addressing such changes. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, and any entity
exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, government. 

“Guarantee” means, as to any Person: (a) any obligation, contingent or otherwise, of such Person guaranteeing or having
the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person,
direct or indirect (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee
in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or
other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part); or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other
Person, whether or not such Indebtedness or other obligation is assumed by such Person. 
 “Guaranteed Obligations” means
the prompt payment in full when due (whether at scheduled payment date, by required repayment or otherwise) of the Obligations from time to time owing to the Lender by Borrower or any Guarantor under any Loan Document strictly in accordance with the
terms thereof. 
 “Guarantor” means (i) each domestic Subsidiary of Borrower on the First Closing Date other than any
Domestic CFC Holdco, (ii) any Foreign Subsidiary that (a) is not a CFC and (b) is not a direct or indirect Subsidiary of a CFC and (iii) each Person that becomes a Party to this Agreement pursuant to Section 8.15. 

“Included Products” means any and all existing and future products that, at any time or from time to time during the period
from the First Closing Date through the Scheduled Maturity Date, any Borrower Party or any of the Subsidiaries sells, has sold, offers for sale, imports, promotes, markets, distributes or otherwise commercializes (or possesses the rights to sell,
have sold, offer for sale, import, promote, market, distribute or otherwise commercialize) anywhere in the Territory. 
 “Included
Product Payments” means, with respect to any period of determination, the net revenues of Borrower and its Subsidiaries with respect to the sale of Included Products, as reflected on Borrower’s consolidated financial statements for
such period, prepared in accordance 

  
 -10- 

 
with GAAP and consistent with past practice. In calculating Included Product Payments, any transfer from Borrower or one of its Subsidiaries to an Affiliate shall be disclosed in writing by
Borrower to Lender and shall, at Lender’s discretion, be disregarded and the calculation shall instead be based on the first transfer to a Third Party. 

“Indebtedness” with respect to any Person means any (a) indebtedness evidenced by an agreement or instrument involving
or evidencing money borrowed, the advance of credit, a conditional sale or a transfer with recourse or with an obligation to repurchase, (b) any capitalized lease, (c) any obligation with regard to Disqualified Capital Stock of such
Person, (d) indebtedness of a third party secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on assets owned or acquired by such Person, whether or not the
indebtedness secured thereby has been assumed, (e) net amounts owing pursuant to an interest rate protection agreement, foreign currency exchange agreement or other hedging arrangement, (f) a reimbursement obligation under a letter of
credit issued for the account of such Person, or (g) all Guarantees with respect to Indebtedness of the types specified in clauses (a) through (f) above of another Person. For the avoidance of doubt, the Indebtedness of any Person
shall include the Indebtedness of any other entity to the extent such Person is directly liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such Person is not liable therefor. 
 “Indemnified Liabilities” means, collectively, any and all
liabilities, obligations, losses, damages, penalties, claims, costs, expenses and disbursements of any kind or nature whatsoever arising from claims of third parties (including the reasonable fees and disbursements of counsel for Indemnitees in
connection with any investigative, administrative or judicial proceeding commenced or threatened by any Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and any fees or expenses actually
incurred by Indemnitees in enforcing the indemnity provided herein), whether direct, indirect or consequential and whether based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws,
statutes, rules or regulations), on common law or equitable cause or on contract or otherwise, imposed on, incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of this Agreement or the other Loan Documents
or the transactions contemplated hereby or thereby (including any enforcement of any of the Loan Documents (including any sale of, collection from, or other realization upon any of the Collateral)). 

“Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Indemnitee” means each Lender and its Affiliates and their respective officers, partners, directors, trustees, employees and
agents. 
 “Instruments” shall mean, collectively, with respect to each Pledgor, all “instruments,” as such term
is defined in Article 9, rather than Article 3, of the UCC, and shall include all promissory notes, drafts, bills of exchange or acceptances. 

“Insurance Providers” means the insurance companies set forth in Schedule 7.01(vv) to the Disclosure Letter or
insurance companies rated at least as high as the ratings given, as of the Closing Date (according to A.M. Best Company, Inc.), the insurance companies set forth on Schedule 7.01(vv) to the Disclosure Letter. 

  
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 “Intellectual Property” means all proprietary information; trade secrets;
Know-How; utility models; confidential information; inventions (whether patentable or unpatentable and whether or not reduced to practice or claimed in a pending patent application) and improvements thereto; Patents; registered or unregistered
trademarks, trade names and service marks, including all goodwill associated therewith; registered and unregistered copyrights and all applications thereof, in each such case, (a) owned or controlled by, issued or licensed to, licensed by, or
hereafter acquired or licensed by, any Borrower Party or any Subsidiary, including any intellectual property subject to the Contracts listed on Schedule 7.01(bb) of the Disclosure Letter; and (b) relating to, embodied by, covering or
involving, or necessary or used to, (i) manufacture or have manufactured any Included Products for Exploitation or (ii) sell, offer for sale, have sold, market, have marketed, promote, or have promoted, import or export any Included
Product. 
 “Intellectual Property Licenses” shall mean, collectively, with respect to each Pledgor, all license and
distribution agreements with, and covenants not to sue, any other party with respect to any Patent, Trademark or Copyright or any other patent, trademark or copyright, whether such Pledgor is a licensor or licensee, distributor or distributee under
any such license or distribution agreement, together with any and all (i) renewals, extensions, supplements and continuations thereof, (ii) income, fees, royalties, damages, claims and payments now and hereafter due and/or payable
thereunder and with respect thereto including damages and payments for past, present or future infringements or violations thereof, (iii) to the extent held by such Pledgor, rights to sue for past, present and future infringements or violations
thereof and (iv) other rights to use, exploit or practice any or all of the Patents, Trademarks or Copyrights or any other patent, trademark or copyright. 

“Intercompany Notes” shall mean, with respect to each Pledgor, all intercompany notes described in Schedule 9 to
the Perfection Certificate and intercompany notes hereafter acquired by such Pledgor and all certificates, instruments or agreements evidencing such intercompany notes, and all assignments, amendments, restatements, supplements, extensions,
renewals, replacements or modifications thereof to the extent permitted pursuant to the terms hereof. 
 “Intercreditor
Agreement” means an intercreditor agreement among Borrower, Lender and the lender or lenders under the Revolving Credit Facility, which shall be on terms satisfactory to Borrower and Lender, each in their sole discretion. 

“Interest Payment Date” means quarterly on March 31, June 30, September 30 and December 31 of
each year, beginning on March 31, 2014. 
 “Key Included Products” means the products set forth in Schedule 1.01 to
the Disclosure Letter. 
 “Know-How” means all non-public information, results and data of any type whatsoever, in any
tangible or intangible form (and whether or not patentable), including databases, practices, methods, techniques, specifications, formulations, formulae, knowledge, skill, experience, data and results (including pharmacological, medicinal chemistry,
biological, chemical, biochemical, toxicological and clinical study data and results), analytical and quality control data, stability data, studies and procedures, and manufacturing process and development information, results and data. 

  
 -12- 

 “Knowledge” means, with respect to any Borrower Party, as applicable, the
knowledge of an officer or senior manager or other person with similar responsibility, regardless of title, of Borrower and/or any of its Subsidiaries relating to a particular matter; provided, however, that a person charged with
responsibility for the aspect of the business relevant or related to the matter at issue shall be deemed to have knowledge of a particular matter if, in the prudent exercise of his or her duties and responsibilities in the ordinary course of
business, such person should have known of such matter. 
 “Law” means any federal, state, local or foreign law, including
common law, treaty, and any regulation, rule, requirement, policy, judgment, order, writ, decree, ruling, award, approval, authorization, consent, license, waiver, variance, guideline or permit of, or any agreement with, any Governmental Authority.

 “Lender” means HealthCare Royalty Partners II, L.P., a Delaware limited partnership and any assignee under
Section 13.01(b). 
 “Liabilities” means the liabilities of Borrower and its Subsidiaries. 

“Lien” means any mortgage or deed of trust, pledge, hypothecation, lien, charge, attachment, set-off, encumbrance or other
security interest in the nature thereof (including any conditional sale agreement, equipment trust agreement or other title retention agreement, a lease with substantially the same economic effect as any such agreement or a transfer or other
restriction) or other encumbrance of any nature whatsoever. 
 “Loan Documents” means this Agreement, the Note, the
Security Agreement, each Deposit Account Control Agreement and each Securities Account Control Agreement. 
 “Loans” means
the First Tranche Term Loan and the Second Tranche Term Loan. 
 “Material Adverse Effect” means (a) a material
adverse change in the business, operations, properties, liabilities, results of operations or condition (financial or other) of Borrower and the other Borrower Parties, taken as a whole; (b) an adverse effect on the validity or enforceability
of the Loan Documents taken as a whole or any material provision hereof or thereof; (c) a material adverse effect on the ability of Borrower or any other Borrower Party to consummate the transactions contemplated by the Loan Documents or the
Equity Investment Documents, in each case taken as a whole, or on the ability of Borrower or any of the other Borrower Parties to perform its obligations under the Loan Documents or the Equity Investment Documents, in each case taken as a whole;
(d) an adverse effect on the rights or remedies of the Lender under any of Loan Documents, taken as a whole; (e) a material adverse effect on the right of the Lender to receive any payment due hereunder or under the Loan Documents, taken
as a whole; or (f) a material adverse effect on any material portion of the Collateral. 

  
 -13- 

 “Material Contract” means any Contract to which Borrower or any of its
Subsidiaries is a party or any of the respective assets or properties of Borrower or any of its Subsidiaries are bound or committed (other than the Transaction Documents) and for which any breach, violation, nonperformance or early cancellation
could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, including, without limitation, any Contract set forth on Schedule 7.01(j) to the Disclosure Letter. 

“Material Intellectual Property” means Intellectual Property (a) relating to, embodied by, covering or involving, or
necessary to (i) manufacture or have manufactured any Key Included Products for Exploitation or (ii) use, sell, offer for sale, have sold, market, have marketed, promote or have promoted, import or export any Key Included Product or
(b) otherwise material to the business of the Borrower Parties and their Subsidiaries. 
 “Maturity Date” means the
earlier of (i) the Scheduled Maturity Date and (ii) the date of any prepayment in full of the Loans. 
 “Non-Exclusively
Licensed Patents” means Patents licensed to a Borrower Party (individually or to Borrower and its Subsidiaries collectively) on a non-exclusive basis. 

“Note” means the note, in the form attached hereto as Exhibit B, issued by Borrower to Lender evidencing the First
Tranche Term Loan or the Second Tranche Term Loan made on the applicable Closing Date to Borrower and any replacement(s) thereof issued in accordance with Section 13.09. 

“Notice of Borrowing” means either the First Notice of Borrowing or the Second Notice of Borrowing. 

“Notices” means, collectively, notices, consents, approvals, reports, designations, requests, waivers, elections and other
communications. 
 “Obligations” means, without duplication, the Loans, the Fixed Interest, and all present and future
Indebtedness, taxes, liabilities, obligations, covenants, duties, and debts, owing by Borrower Parties and Subsidiaries to the Lender, arising under or pursuant to the Loan Documents, including all principal, interest, charges, expenses, fees and
any other sums chargeable to Borrower Parties and its Subsidiaries hereunder and under the other Loan Documents (and including any interest, fees, indemnities and other charges that would accrue but for the filing of a bankruptcy action with respect
to any Borrower Party, whether or not such claim is allowed in such bankruptcy action). 
 “Office” means, with respect to
the Lender, its Stamford, Connecticut office, and with respect to any other Lender, the office of such Lender designated as its Office in an Assignment and Acceptance, or such other office as may be otherwise designated in writing from time to time
by such Lender to Borrower. 
 “Organizational Document” shall mean, with respect to any Person, (i) in the case of
any corporation, the certificate of incorporation and by-laws (or similar documents) of such Person, (ii) in the case of any limited liability company, the certificate of formation and operating agreement (or similar documents) of such Person,
(iii) in the case of any limited partnership, the certificate of formation and limited partnership agreement (or similar documents) of such Person, (iv) in the case of any general partnership, the partnership agreement (or similar
document) of such Person and (v) in any other case, the functional equivalent of the foregoing. 

  
 -14- 

 “Outstanding Principal Amount” means the principal amount of the Loans
outstanding from time to time. 
 “Owned Patents” means the Patents owned by a Borrower Party (individually or by Borrower
and its Subsidiaries collectively). 
 “Party” means Borrower, any other Borrower Party or the Lender; and
“Parties” means Borrower, any other Borrower Party and the Lender. 
 “Patent Office” means the respective
patent office (foreign or domestic) for any patent. 
 “Patent Rights” means, collectively, with respect to a Person, all
patents issued or assigned to, and all patent applications and registrations made by, such Person (whether established or registered or recorded in the U.S. or any other country or any political subdivision thereof), together with any and all
(i) rights and privileges arising under applicable Law with respect to such Person’s use of any patents, (ii) inventions and improvements described and claimed therein, (iii) reissues, divisions, continuations, renewals,
extensions and continuations-in-part thereof and amendments thereto, (iv) income, fees, royalties, damages, claims and payments now or hereafter due and/or payable thereunder and with respect thereto including damages and payments for past,
present or future infringements thereof, (v) rights corresponding thereto throughout the world and (vi) rights to sue for past, present or future infringements thereof. 

“Patents” means any and all issued patents and pending patent applications, including without limitation, all provisional
applications, substitutions, continuations, continuations-in-part, divisions, and renewals, all letters patent granted thereon, and all patents-of-addition, reissues, reexaminations and extensions or restorations by existing or future extension or
restoration mechanisms (including regulatory extensions), and all supplementary protection certificates, together with any foreign counterparts thereof covering the Included Products, composition of matter, formulation, or methods of manufacture or
use thereof that are issued or filed on or after the date of this Agreement, including those identified in Schedule 7.01(bb)(a) to the Disclosure Letter in each such case, which are owned or controlled by, issued or licensed to, licensed by,
or hereafter acquired or licensed by, Borrower or any Subsidiary. 
 “Patriot Act” means the USA Patriot Act, Public Law
No. 107-56. 
 “Payment” means due and owing payments of Amortization Payments (under Section 3.01(a) hereof) and
Fixed Interest (under Section 4.01 hereof), including, in each case any default, additional interest or prepayment premium charged hereunder. 

“Perfection Certificate” shall mean a certificate in the form of Exhibit F-1 or any other form approved by the
Lender, as the same shall be supplemented from time to time by a Perfection Certificate Supplement or otherwise. 

  
 -15- 

 “Perfection Certificate Supplement” shall mean a certificate supplement in the
form of Exhibit F-2 or any other form approved by the Lender. 
 “Permitted Liens” means the following: 

(a) Liens created pursuant to any Loan Document; 

(b) Liens existing on the Closing Date set forth in Schedule 9.03(b) to the Disclosure Letter to the extent and in the manner such Liens
are in effect on the Closing Date; 
 (c) Liens created after the Closing Date in connection with purchase money or capitalized lease
obligations, but only to the extent that such Liens encumber property financed by such purchase money or capital lease obligations and the proceeds thereof along with substitutions therefor and accessions thereto so long as the principal component
of such purchase money or capital lease obligations is not increased; 
 (d) any Lien existing on any asset prior to the acquisition thereof
by Borrower and any of its Subsidiaries and not enacted in contemplation of such acquisition; 
 (e) Liens arising out of (i) pledges or
deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation, (ii) pledges and deposits in the ordinary course of business securing liability to
landlords (including obligations in respect of letters of credit or bank guarantees for the benefit of landlords) or for corporate credit cards, and (iii) pledges and deposits in the ordinary course of business securing liability to insurance
carriers providing property, casualty or liability insurance to Borrower or any Subsidiary (including obligations in respect of letters of credit or bank guarantees for the benefit of such insurance carriers); 

(f) Liens in favor of a banking or other financial institution arising as a matter of law or under customary contractual provisions encumbering
deposits or other funds maintained with such banking or other financial institution (including the right of set off and grants of security interests in deposits and/or securities held by such banking or other financial institution) and that are
within the general parameters customary in the banking industry; 
 (g) easements, rights-of-way, zoning restrictions and other similar
charges or encumbrances in respect of real property not materially interfering with the ordinary conduct of the business of Borrower; 
 (h)
Liens securing taxes, assessments, fees or other governmental charges or levies, Liens securing the claims of materialmen, mechanics, carriers, landlords, warehousemen and similar Persons, Liens in the ordinary course of business in connection with
workmen’s compensation, unemployment insurance and other similar Laws, Liens to secure surety, appeal and performance bonds and other similar obligations not incurred in connection with the borrowing of money, and attachment, judgment and other
similar Liens arising in connection with court proceedings so long as the enforcement of such Liens is effectively stayed and the judgment claims secured thereby do not otherwise constitute an Event of Default under clause (g) of the definition
of “Event of Default”; 

  
 -16- 

 (i) leases, subleases, non-exclusive licenses or sublicenses granted to Third Parties in the
ordinary course of business, including any Permitted Transfers described in clause (v) of the definition thereof; 
 (j) any right,
title or interest of a licensor under a license; 
 (k) Liens on imported goods and related shipping documents in favor of customs and
revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of such goods; 
 (l)
Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto; 
 (m) Liens on cash
collateral securing hedging agreements entered into for bona fide hedging purposes and not for speculative purposes; 
 (n) Liens arising
from filing precautionary UCC financing statements regarding leases; 
 (o) Liens arising out of the refinancing, extension, renewal or
refunding of any Indebtedness secured by any Lien permitted by any of the foregoing clauses of this definition of “Permitted Liens”; provided that such Indebtedness is not increased and is not secured by any additional assets; and

 (p) Liens arising out of Indebtedness associated with the Revolving Credit Facility with respect to inventory, accounts receivable and the
proceeds thereof so long as the Liens on such assets under the Loan Documents are permitted to continue as junior liens. 

“Permitted Transfer” means (i) any (a) sale of any Included Product by Borrower or any of its Subsidiaries to any
Subsidiary or Borrower, as applicable, to end users (through wholesalers or other typical sales channels) or to Distributors or (b) dispositions of obsolete equipment or inventory, in each case in the ordinary course of business; (ii) any
sale, conveyance, assignment, disposition, lease, sublease, license, sublicense or other form of transfer of any property to Borrower or any of its Subsidiaries that is a Guarantor; (iii) any disposition or other transfer of any Included
Product, without the payment or provision of consideration to Borrower or any of its Subsidiaries for such Included Product (other than expense reimbursement), reasonably necessary for the conduct of any then on-going clinical trial or other
development or regulatory activities associated with such Included Product; (iv) any disposition or other transfer of any Included Product as promotional support in the ordinary course of business or in consideration of services in the ordinary
course of business; and (v) any transfer made in connection with any transaction among Borrower and Subsidiaries which are not Guarantors (A) in the ordinary course of business and (B) reasonably necessary in connection with licenses
of Intellectual Property and related rights with respect to the Exploitation of Included Products outside of the U.S. 

“Person” means an individual, corporation, association, limited liability company, limited liability partnership,
partnership, estate, trust, unincorporated organization or a government or any agency or political subdivision thereof. 

  
 -17- 

 “Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA)
subject to Title IV or Section 302 of ERISA or Section 412 of the Code or any similar plan under non-U.S. law. 
 “Plan
Assets” means assets of any (i) employee benefit plan (as defined in Section 3(3) of ERISA) subject to Title I of ERISA, (ii) plan (as defined in Section 4975(e)(1) of the Code) subject to Section 4975 of the
Code or (iii) entity whose underlying assets include assets of any such employee benefit plan or plan by reason of the investment by an employee benefit plan or other plan in such entity. 

“Pledged Securities” shall mean, collectively, with respect to each Pledgor, (i) all issued and outstanding Capital
Stock of each issuer set forth on Schedules 9(a) and 9(b) to the Perfection Certificate as being owned by such Pledgor and all options, warrants, rights, agreements and additional Capital Stock of whatever class of any such issuer
acquired by such Pledgor (including by issuance), together with all rights, privileges, authority and powers of such Pledgor relating to such Capital Stock in each such issuer or under any Organizational Document of each such issuer, and the
certificates, instruments and agreements representing such Capital Stock and any and all interest of such Pledgor in the entries on the books of any financial intermediary pertaining to such Capital Stock, (ii) all Capital Stock of any issuer,
which Capital Stock is hereafter acquired by such Pledgor (including by issuance) and all options, warrants, rights, agreements and additional Capital Stock of whatever class of any such issuer acquired by such Pledgor (including by issuance),
together with all rights, privileges, authority and powers of such Pledgor relating to such Capital Stock or under any Organizational Document of any such issuer, and the certificates, instruments and agreements representing such Capital Stock and
any and all interest of such Pledgor in the entries on the books of any financial intermediary pertaining to such Capital Stock, from time to time acquired by such Pledgor in any manner, and (iii) all Capital Stock issued in respect of the
Capital Stock referred to in clause (i) or (ii) upon any consolidation or merger of any issuer of such Capital Stock; provided, that, for the avoidance of doubt, Pledged Securities shall not include any Excluded Property (as defined in the
Security Agreement). 
 “Pledgor” means Borrower or any Borrower Party which provides collateral to secure the Obligations.

 “Prepayment Trigger” means the occurrence of any of the following: (i) the occurrence of any Event of Default and
the acceleration of the maturity of the Loans, or (ii) the occurrence of any Change of Control. 
 “Proceeding” means
an action or proceeding brought against a Party as a defendant, for purposes of all legal proceedings arising out of or relating to this Agreement or the transactions contemplated hereby. 

“Qualified Capital Stock” of any Person means Capital Stock of such Person other than Disqualified Capital Stock;
provided that such Capital Stock shall not be deemed Qualified Capital Stock to the extent sold or owed to a Subsidiary of such Person or financed, directly or indirectly, using funds (i) borrowed from such Person or any Subsidiary of
such Person until and to the extent such borrowing is repaid or (ii) contributed, extended, guaranteed or advanced by such Person or any Subsidiary of such Person (including, without limitation, in respect of any employee stock ownership or
benefit plan). Unless otherwise specified, Qualified Capital Stock refers to Qualified Capital Stock of Borrower. 

  
 -18- 

 “Register” means a record of ownership in which Borrower registers by book entry
the interests (including any rights to receive payment hereunder) of each Lender in the Loans and any assignment of any such interest, obligation or right. 

“Regulatory Agency” means a Governmental Authority with responsibility for the regulation of the research, development,
marketing or sale of drugs or medical devices in any jurisdiction, including the FDA, the U.S. National Institutes of Health and the EMA. 

“Regulatory Approval” means all actions, approvals (including, where applicable, pricing and reimbursement approval and
schedule classifications), licenses, registrations or authorizations of a Regulatory Agency necessary for the making, manufacture, sale, offer for sale, distribution, import, export, promotion, marketing or other use of a product or device. 

“Representative” means, with respect to any Person, any stockholder, member, partner, manager, director, officer, employee,
agent, advisor or other representative of such Person. 
 “Restricted Payment” means any of the following: 

(i) the declaration or payment of any dividend or any other distribution on Capital Stock of a Borrower Party or any Subsidiary
or any payment made to the direct or indirect holders (in their capacities as such) of Capital Stock of a Borrower Party or any Subsidiary, including, without limitation, any payment in connection with any merger or consolidation involving a
Borrower Party but excluding (a) dividends or distributions payable solely in Qualified Capital Stock or through accretion or accumulation of such dividends on such Capital Stock and (b) in the case of Subsidiaries, dividends or
distributions payable to a Borrower Party or to a Subsidiary and pro rata dividends or distributions payable to minority stockholders of any Subsidiary; 

(ii) the redemption or other purchase by a Borrower Party or any Subsidiary of any Capital Stock of Borrower or any Subsidiary,
including, without limitation, any payment in connection with any merger or consolidation involving Borrower but excluding any such Capital Stock held by Borrower or any Subsidiary; or 

(iii) the making of (or giving any notice in respect of) any voluntary or optional payment or prepayment on or redemption,
scheduled payment or acquisition for value of, or any prepayment or redemption as a result of asset sale, change of control or similar mandatory event of, any Indebtedness that is subordinated to the Loans (including any Bridge Financing), or any
payment of interest on or fees or other amounts with respect to such Indebtedness. 
 “Revolving Credit Facility” means the
contemplated revolving credit facility that may be obtained by Borrower or other Borrower Party after the First Closing Date which is secured only by Borrower Parties’ accounts receivable, inventory and the proceeds thereof, the terms of which
shall be approved by the Lender after consultation with Borrower or other Borrower Party, as applicable, and shall be subject to an Intercreditor Agreement. 

  
 -19- 

 “Scheduled Maturity Date” means December 31, 2020. 

“SEC” means the United States Securities and Exchange Commission. 

“Second Closing Date” means the Business Day during the first quarter of the calendar year of 2015 that is fifteen
(15) Business Days after the date of the Second Notice of Borrowing. 
 “Second Commitment” means an amount up to
$5,000,000. 
 “Second Notice of Borrowing” means an irrevocable notice, substantially in the form set forth in Exhibit
C hereto, to be given by Borrower to the Lender in accordance with Section 2.02(b) that (a) certifies the achievement of the Second Tranche Milestone, (b) includes evidence satisfactory to the Lender of achievement of the Second
Tranche Milestone, (c) specifies the Second Commitment and (d) includes a draft of the Updated Letter. 
 “Second Tranche
Milestone” means that the Included Product Payments for the twelve months ended December 31, 2014 is greater than $13,000,000. 

“Second Tranche Term Loan” means the loan, in the principal amount not to exceed $5,000,000, made by the Lender to Borrower
on the Second Closing Date pursuant to Section 2.01(b) hereof. 
 “Securities Account Control Agreement” means an
agreement in writing reasonably acceptable to the Lender, by and among the Lender and Borrower and the relevant securities intermediary with respect to a securities account at such securities intermediary, which, if required hereunder, is sufficient
to perfect the security interests of the Lender therein. 
 “Securities Collateral” shall mean, collectively, the Pledged
Securities, the Intercompany Note and the Distributions. 
 “Security Agreement” means the Security Agreement, dated as of
the First Closing Date, substantially in the form of Exhibit A hereto, by and among the Lender, Borrower and each Subsidiary that is a Guarantor securing the Obligations of Borrower hereunder and of each Guarantor, as supplemented by any
amendments or joinders thereto. 
 “Security Documents” means the Security Agreement, each Deposit Account Control
Agreement, each Securities Account Control Agreement and each other agreement entered into from time to time that grants (or purports to grant) a security interest in or mortgage on Collateral in favor of the Lenders. 

“Set-off” means any right of set off, rescission, counterclaim, reduction, deduction or defense. 

  
 -20- 

 “Subsidiary” means, with respect to any Person, at any time, any entity of which
more than fifty percent (50%) of the outstanding Voting Stock or other equity interest entitled ordinarily to vote in the election of the directors or other governing body (however designated) is at the time beneficially owned or controlled
directly or indirectly by such Person, by one or more such entities or by such Person and one or more such entities. Unless otherwise indicated herein, “Subsidiary” shall refer to a Subsidiary of Borrower Parties. 

“Surviving Person” means, with respect to any Person involved in or that makes any disposition, the Person formed by or
surviving such disposition or the Person to which such disposition is made. 
 “Taxes” means taxes, levies, duties,
imposts, deductions, charges, fees or withholdings, and all interest, penalties and other liabilities with respect thereto. 

“Territory” means the entire world. 

“Third Party” means any Person other than Borrower or its Affiliates. 

“Threshold Amount” means $500,000. 

“Trademarks” shall mean, collectively, with respect to each Pledgor, all trademarks (including service marks), slogans,
logos, certification marks, trade dress, uniform resource locators (URL’s), domain names, corporate names and trade names, whether registered or unregistered, owned by or assigned to such Pledgor and all registrations and applications for the
foregoing (whether statutory or common law and whether established or registered in the U.S. or any other country or any political subdivision thereof), together with any and all (i) rights and privileges arising under applicable law with
respect to such Pledgor’s use of any trademarks, (ii) reissues, continuations, extensions and renewals thereof and amendments thereto, (iii) income, fees, royalties, damages and payments now and hereafter due and/or payable thereunder
and with respect thereto, including damages, claims and payments for past, present or future infringements thereof, (iv) rights corresponding thereto throughout the world and (v) rights to sue for past, present and future infringements
thereof. 
 “Transaction Documents” means the Loan Documents, Borrower Party Documents, the Warrant and the Equity
Investment Documents. 
 “Transferred Guarantor” means a Guarantor with respect to which all of the Capital Stock thereof
has or is being is sold or otherwise transferred to a Person or Persons, none of which is Borrower Party. 
 “U.S.” means
the United States of America. 

  
 -21- 

 “UCC” means the Uniform Commercial Code as in effect from time to time in the
State of New York; provided, however, that, at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Lender’s security interest in any item or portion of the Collateral is governed
by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the provisions
hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. 
 “Updated
Letter” means an updated Disclosure Letter, to be dated the Second Closing Date, if any, attached to the Bring-Down Certificate. Such Updated Letter shall include all disclosure necessary to make the representations and warranties set forth
in Section 7.01 true and correct as of the date of the Second Closing Date and to consist solely of information regarding circumstances, facts, events or conditions that have arisen, occurred or come into existence after the First Closing Date;
provided, however, that such Updated Letter (i) shall not correct, supplement or amend the disclosures set forth in the Disclosure Letter delivered on the date hereof for purposes of the representations and warranties made by Borrower as of the
date of the First Closing Date, but the disclosures contained in the Updated Letter shall be deemed to modify and qualify all representations and warranties made in this Agreement on and as of the Second Closing Date, other than (x) all
references to “Disclosure Letter” shall be to the “Updated Letter” and (y) all references to the “Financial Statements” shall be to the consolidated balance sheets of Borrower and its Subsidiaries, audited at
December 31, 2013, December 31, 2012 and December 31, 2011, and the related consolidated statements of operations and comprehensive loss, cash flows and changes in stockholders’ equity of Borrower and its Subsidiaries,
audited for the years ended December 31, 2013, December 31, 2012 and December 31, 2011, and the accompanying footnotes thereto, and the consolidated balance sheets of Borrower and its Subsidiaries as of September 30, 2014
and September 30, 2013, and the related consolidated statements of operations and comprehensive loss, cash flows and changes in stockholders’ equity of Borrower and its Subsidiaries for the nine months ended September 30, 2014 and
September 30, 2013, (ii) shall not change the nature or scope of the applicable representations and warranties by effectively amending or modifying the language contained in such representations and warranties (as opposed to merely listing
exceptions or required disclosures thereto) and (iii) shall be written in specific terms in a manner consistent with the Disclosure Letter delivered to Lender on the First Closing Date and sufficient to put Lender on notice of the information
being disclosed. Each item included in the Updated Letter shall identify the particular representation or warranty that must be qualified in light of the event or circumstance requiring disclosure, and in any event such disclosure shall modify the
respective representations and warranties of Borrower only to the extent necessary to make them true in light of the item being disclosed. 

“Voting Stock” means Capital Stock issued by a company, or equivalent interests in any other Person, the holders of which are
ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such contingency. 

“Warrant” means a warrant to purchase (a) in the case of the First Closing Date, 1,042,825 shares of Series E Preferred
Stock of the Company and (b) in the case of the Second Closing Date, the number of shares of Series E Preferred Stock of the Company obtained by multiplying the Second Commitment as specified in the Second Notice of Borrowing by 7.5% and then
dividing such product by 0.7192, in each case substantially in the form set forth in Exhibit G hereto. 

  
 -22- 

 “Wholly Owned Subsidiary” means, as to any Person, (a) any corporation 100%
of whose capital stock (other than directors’ qualifying shares) is at the time owned by such Person and/or one or more Wholly Owned Subsidiaries of such Person and (b) any partnership, association, joint venture, limited liability company
or other entity in which such Person and/or one or more Wholly Owned Subsidiaries of such Person have a 100% equity interest at such time. 

SECTION 1.02. UCC Terms. Unless otherwise defined herein, capitalized terms used herein that are defined in the UCC shall have the meanings
assigned to them in the UCC; provided that in any event, the following terms shall have the meanings assigned to them in the UCC: 

“Accounts”; “Bank”; “Chattel Paper”; “Commercial Tort Claim”;
“Commodity Account”; “Commodity Contract”; “Commodity Intermediary”; “Documents”; “Electronic Chattel Paper”; “Entitlement Order”;
“Equipment”; “Financial Asset”; “Fixtures”; “Goods,” “Inventory”; “Letter-of-Credit Rights”; “Letters of Credit”;
“Money”; “Payment Intangibles”; “Proceeds”; “ Records”; “Securities Account”; “Securities Intermediary”; “Security Entitlement”;
“Supporting Obligations”; and “Tangible Chattel Paper.” 
 SECTION 1.03. Interpretation; Headings. Each
term used in any exhibit to this Agreement and defined in this Agreement but not defined therein shall have the meaning set forth in this Agreement. Unless the context otherwise requires, (a) “including” means “including, without
limitation” and (b) words in the singular include the plural and words in the plural include the singular. A reference to any party to this Agreement, any other Transaction Document or any other agreement or document shall include such
party’s successors and permitted assigns. A reference to any agreement or order shall include any amendment of such agreement or order from time to time in accordance with the terms herewith and therewith. A reference to any legislation, to any
provision of any legislation or to any regulation issued thereunder shall include any amendment thereto, any modification or re-enactment thereof, any legislative provision or regulation substituted therefor and all regulations and statutory
instruments issued thereunder or pursuant thereto. The headings contained in this Agreement are for convenience and reference only and do not form a part of this Agreement. Section, Article and Exhibit references in this Agreement refer to sections
or articles of, or exhibits to, this Agreement unless otherwise specified. Borrower acknowledges and agrees that it was represented by counsel in connection with the execution and delivery of the Loan Documents to which it is a party, that it and
its counsel reviewed and participated in the preparation and negotiation hereof and thereof and that any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not be employed in the interpretation
hereof or thereof. 

  
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 ARTICLE II 

COMMITMENT; DISBURSEMENT; FEES 

SECTION 2.01. Commitment to Lend and Borrow. 

(a) On the terms and subject to the conditions set forth herein, on the First Closing Date, the Lender shall make a loan hereunder to Borrower,
and Borrower shall accept and borrow such loan from the Lender, in a principal amount equal to the First Commitment. 
 (b) On the terms and
subject to the conditions set forth herein, on the Second Closing Date, if any, the Lender shall make a loan hereunder to Borrower, and Borrower shall accept and borrow such loan from the Lender, in a principal amount equal to the Second Commitment.

 SECTION 2.02. Notice of Borrowing. 

(a) Subject to Section 2.01(a), Borrower shall, simultaneously with the execution and delivery of this Agreement by the Parties, deliver
to the Lender a First Notice of Borrowing, that Borrower will borrow a principal amount equal to the First Commitment on the First Closing Date. The First Commitment shall automatically terminate on the funding of the First Tranche Term Loan. 

(b) Subject to Section 2.01(b) and only upon the achievement of the Second Tranche Milestone, Borrower may, at its election, deliver to
the Lender a Second Notice of Borrowing, that Borrower will borrow a principal amount equal to the Second Commitment on the Second Closing Date. If the Second Notice of Borrowing is accompanied by a draft of the Updated Letter or if the Bring-Down
Certificate is accompanied by the Updated Letter, Lender shall have no obligation to make the Loan of the Second Commitment unless the matters set forth in the Updated Letter are acceptable to Lender in its sole discretion. The Second Commitment
shall automatically terminate on the earlier of (i) the funding of the Second Tranche Term Loan or (ii) March 31, 2015. 

SECTION 2.03. Disbursement and Borrowing. On the terms and subject to the conditions set forth herein, on each of the First Closing Date and
Second Closing Date, if any, (i) the Lender shall credit, in same day funds, an amount equal to (A) the First Commitment or the Second Commitment, as applicable, less (B) in the case of the First Closing Date, the expenses
referred to in Section 4.04 to the account of Borrower (or such other Person) which Borrower shall have designated for such purpose in the First Notice of Borrowing or the Second Notice of Borrowing, as the case may be, and (ii) Borrower
shall accept and borrow such amount. 
 SECTION 2.04. Commitment Not Revolving. The Lender’s commitment to lend hereunder is not
revolving in nature, and any amount of the Loan repaid or prepaid may not be reborrowed. 
 ARTICLE III 

REPAYMENT 
 SECTION 3.01.
Amortization. 
 (a) The principal balance of the Loan shall be paid in quarterly payments with the first such payment due on March 31,
2017, and any remaining outstanding principal balance in respect of the Loan being due and balance as provided below: 

  
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 (i) 2.5% of the Aggregate Loan Amount shall be payable on each Interest Payment
Date during Calendar Year 2017; 
 (ii) 5.0% of the Aggregate Loan Amount shall be payable on each Interest Payment Date
during Calendar Year 2018; 
 (iii) 7.5% of the Aggregate Loan Amount shall be payable on each Interest Payment Date during
Calendar Year 2019; and 
 (iv) 10.0% of the Aggregate Loan Amount shall be payable on each Interest Payment Date during
Calendar Year 2020. 
 (b) If not earlier repaid in full, the unpaid balance of the Aggregate Loan Amount, together with any accrued and
unpaid interest (including the Fixed Interest) and all other Obligations then outstanding, shall be due and payable in cash on the Maturity Date. 

SECTION 3.02. Voluntary Prepayment; Mandatory Prepayment. 

(a) At any time, Borrower may voluntarily prepay the Loans in whole but not in part, together with accrued and unpaid Fixed Interest on the
amount prepaid, together with any additional amounts due in respect thereof to the extent required by clause (c) below and all other Obligations then outstanding together with other amounts in respect thereof. 

(b) If any Prepayment Trigger occurs, then the Lender shall have the right, but not the obligation, to require Borrower to prepay the Loans,
together with accrued and unpaid Fixed Interest together with other amounts in respect thereof, pursuant to clause (c) below. 
 (c)
Each prepayment of the Loans due to the occurrence of a Prepayment Trigger, and each voluntary prepayment of the Loans in whole pursuant to Section 3.02(a), shall be subject to the following (in addition to the other provisions contained in
this Agreement): 
 Such prepayment shall be in the amount indicated in the second column of the table below (determined as of the date of the Prepayment
Trigger or voluntary prepayment): 
  

			
	With respect to voluntary prepayments paid during the period below or owing as a consequence of a Prepayment Trigger occurring during such period		Prepayment Amount
		
	On or prior to December 31, 2014		130% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans
		
	After December 31, 2014 and on or prior to December 31, 2015		140% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans

  
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	After December 31, 2015 and on or prior to December 31, 2016		150% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans
		
	After December 31, 2016 and on or prior to December 31, 2017		112% of the Outstanding Principal Amount
		
	After December 31, 2017 and on or prior to December 31, 2018		108% of the Outstanding Principal Amount
		
	After December 31, 2018 and on or prior to December 31, 2019		104% of the Outstanding Principal Amount
		
	After December 31, 2019 and on or prior to December 31, 2020		100% of the Outstanding Principal Amount

 (d) In addition to the amounts in clause (c) above, in connection with the prepayment in full of a Loan,
any unpaid amounts in respect of such prepaid Loan not consisting of principal or Fixed Interest (i.e., any unpaid amounts for indemnification, tax gross-up, default interest, expense reimbursement and other obligations not consisting of principal
or interest) shall be immediately due and payable. 
 ARTICLE IV 

INTEREST; EXPENSES; MAKING OF PAYMENTS 

SECTION 4.01. Interest Rate. 

(a) The Loans shall bear interest consisting of Fixed Interest, which shall be paid in cash as provided in this Section 4.01. 

(b) All interest hereunder in respect of the Fixed Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 

(c) Accrued Fixed Interest on the Loan shall be payable by Borrower to the Lender in arrears on each Interest Payment Date for the Loan
commencing with the first Interest Payment Date occurring after the funding of the Loan; provided that in the event of any repayment or prepayment of the Loan (including, without limitation, principal payments due under Section 3.01),
accrued Fixed Interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. 
 SECTION
4.03. Interest on Late Payments. If any amount payable by Borrower to the Lender hereunder is not paid when due (whether at stated maturity, by acceleration or otherwise), interest shall accrue on any such unpaid amounts, both before and after
judgment during the period from and including the applicable due date, to but excluding the day the overdue amount is paid in full, at a rate per annum equal to the Default Rate. Interest accruing under this Section 4.03 shall be payable on
demand of the Lender. 

  
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 SECTION 4.04. Initial Expenses. Borrower shall reimburse the Lender, on the First Closing Date as
provided in Section 2.03, in an amount not to exceed $200,000, for all (a) actual, documented out-of-pocket fees and expenses incurred by the Lender (including all fees and expenses of outside counsel to the Lender), supported by
reasonable documentation, in connection with the negotiation, preparation, execution and delivery of this Agreement and the other Transaction Documents including any amendment or waiver with respect thereto and (b) reasonable fees and expenses,
supported by reasonable documentation, of due diligence conducted by the Lender or other Parties (including outside counsel to the Lender) at the request of the Lender. 

SECTION 4.05. Administration and Enforcement Expenses. Borrower shall promptly reimburse the Lender on demand for all reasonable costs and
expenses incurred by the Lender (including the reasonable fees and expenses of one outside counsel to the Lenders) as a consequence of or in connection with any Default or Event of Default. 

SECTION 4.06. Making of Payments. Notwithstanding anything to the contrary contained herein, any Payment stated to be due hereunder or under
any Note on a given day in a specified month shall be made, (i) if there is no such given day or corresponding day, on the last Business Day of such month or (ii) if such given day or corresponding day is not a Business Day, on the next
succeeding Business Day. 
 SECTION 4.07. Setoff or Counterclaim. Each Payment by Borrower under this Agreement or under any Note shall be
made without setoff or counterclaim. The Lender shall have the right to setoff any and all amounts owed by Borrower and/or any of its Subsidiaries under this Agreement as provided in Section 11.03. 

ARTICLE V 
 TAXES 

SECTION 5.01. Taxes. 
 (a) Except
as otherwise required by Law, any and all payments by any Borrower Party under any Loan Document (including payments with respect to the Loan) shall be made free and clear of and without withholding or deduction for any and all present and future
Taxes imposed by any Governmental Authority or taxing authority in any jurisdiction. If any Indemnified Taxes shall be required by Law to be withheld or deducted from or in respect of any sum payable under any Loan Document, (i) the sum payable
by the applicable Borrower Party shall be increased as may be necessary so that after making all required withholding or deductions of Indemnified Taxes (including such withholding or deductions applicable to additional amounts payable under this
Section) the Lender shall receive an amount equal to the sum it would have received had no such deductions been made and (ii) the applicable Borrower Party shall make such withholding or deductions and pay the full amount deducted to the
relevant Governmental Authority or taxing authority in accordance with applicable Law. 
 (b) Any Lender claiming additional amounts payable
pursuant to Section 5.01(a) shall use its reasonable efforts (consistent with its internal policies and applicable Law) to change the jurisdiction of its Office if such a change would reduce any such additional amounts (or any similar amount
that may thereafter accrue) and would not, in the sole discretion of such Lender, be otherwise disadvantageous to such Lender. 

  
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 (c) If a Lender is a Foreign Lender, then such Lender shall provide to Borrower (i) in the
case of a Foreign Lender claiming exemption from U.S. federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio interest,” (x) two accurate and complete original signed copies of
IRS Form W-8BEN (or a successor form) properly completed and duly executed by such Foreign Lender and (y) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of
the Code, (B) a “10 percent shareholder” of Borrower within the meaning of Section 881(c)(3)(B) of the Code or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a
“Tax Compliance Certificate”), (ii) if the payments receivable by the Foreign Lender are effectively connected with the conduct of a trade or business in the U.S., two accurate and complete original signed copies of IRS Form
W-8ECI (or a successor form), (iii) in the case of a Foreign Lender that is entitled to benefits under an income tax treaty to which the U.S. is a party that reduces the rate of withholding tax on payments of interest, two accurate and complete
original signed copies of IRS Form W-8BEN (or a successor form) indicating that such Foreign Lender is entitled to receive payments under this Agreement and the Notes with reduced or no deduction of any U.S. federal income withholding tax or
(iv) in the case of a Foreign Lender acting as an intermediary, two accurate and complete original signed copies of IRS Form W-8IMY (or a successor form), accompanied by IRS Form W-8ECI or W-8BEN, a Tax Compliance Certificate, IRS Form W-9
and/or other certification documents from each beneficial owner, as applicable. Such forms shall be delivered by such Foreign Lender on or prior to the date that it becomes a Lender under this Agreement, at any time thereafter when a change in the
Foreign Lender’s circumstances renders an existing form obsolete or invalid or requires a new form to be provided, and within fifteen Business Days after a reasonable written request of Borrower from time to time thereafter. Notwithstanding any
other provision of this Section 5.01(c), no Foreign Lender shall be required to deliver any form pursuant to this Section 5.01(c) that such Foreign Lender is not legally able to deliver. 

(d) Each Lender that is not a Foreign Lender shall provide two properly completed and duly executed copies of Form W-9 (or successor form) at
the times specified for delivery of forms under Section 5.01(c). 
 (e) If a payment made to a Lender under any Loan Document would be
subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender
shall deliver to the Borrower at the time or times prescribed by law and at such time or times reasonably requested by the Borrower such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the
Code) and such additional documentation reasonably requested by the Borrower as may be necessary for the Borrower to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under
FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (e), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

  
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 (f) Each Lender having assigned its rights and obligations hereunder in whole or in part shall
collect from such assignee the documents described in Sections 5.01(c) and (d) as applicable. 
 SECTION 5.02. Receipt of Payment.
Within thirty days after the date of any payment of Taxes withheld by Borrower in respect of any payment to the Lender, Borrower shall furnish to the Lender the original or a certified copy of a receipt evidencing payment thereof or other evidence
reasonably satisfactory to the Lender. 
 SECTION 5.03. Other Taxes. Borrower shall promptly pay any registration or transfer taxes, stamp
duties or similar levies, and any penalties or interest that may be due with respect thereto, that may be imposed in connection with the execution, delivery, registration or enforcement of this Agreement, the Note issued hereunder or any other Loan
Document or the filing, registration, recording or perfecting of any security interest contemplated by this Agreement. 
 SECTION 5.04.
Indemnification. If the Lender pays any Taxes that Borrower is required to pay pursuant to this Article V (including Taxes imposed or asserted on or attributable to amounts payable under this Article V), Borrower shall indemnify the Lender on demand
in full in the currency in which such Taxes are paid, whether or not such Taxes were correctly or legally imposed, together with interest thereon from and including the date of payment to, but excluding, the date of reimbursement at the Default
Rate. The Lender shall promptly notify Borrower if any claim is made against the Lender for any Taxes for which Borrower would be responsible to indemnify the Lender pursuant to this Section 5.04. 

SECTION 5.05. Tax Reporting. 

(a) Loans Treated As Indebtedness. The Parties agree to treat the Loans as indebtedness for borrowed money of Borrower for all tax
purposes. The Parties agree not to take any position that is inconsistent with the provisions of this Section 5.05 on any tax return or in any audit or other administrative or judicial proceeding unless required by applicable Law. 

SECTION 5.06. Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as
to which it has been indemnified pursuant to this Article V (including by the payment of additional amounts pursuant to this Article V), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Article V with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this Section 5.06 (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 5.06, in no event will the
indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 5.06 the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been
in if the indemnification payments or additional 

  
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amounts giving rise to such refund had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating
to its Taxes that it deems confidential) to the indemnifying party or any other Person. 
 SECTION 5.07. Registered Obligation. 

(a) Borrower shall establish and maintain, at its address referred to in Section 13.03, (A) a Register in which Borrower agrees to
register by book entry the interests (including any rights to receive payment hereunder) of the Lender in the Loans, each of its obligations under this Agreement to participate in the Loans, and any assignment of any such interest, obligation or
right, and (B) accounts in the Register in accordance with its usual practice in which it shall record (1) the names and addresses of the Lender(s) (and each change thereto pursuant to Sections 13.01 and 13.02), (2) the amount of the
Loans described in clause (A) above, (3) the amount of any principal or interest due and payable or paid, and (4) any other payment received and its application to the Loan. 

(b) Notwithstanding anything to the contrary contained in this Agreement or elsewhere, the Loans (including any Note evidencing such Loan) are
registered obligations, the right, title and interest of the Lender and its assignees in and to such Loans shall be transferable only upon notation of such transfer in the Register and no assignment thereof shall be effective until recorded therein.
This Section 5.07 and Sections 13.01 and 13.02 shall be construed so that, and the Lender shall cooperate with Borrower in all respects (notwithstanding anything else whether in the Loan Documents or otherwise) (including, but not limited to,
providing appropriate information) so that, the Loans are at all times maintained in “registered form” within the meaning of Section 5f.103-1(c) of the U.S. Treasury Regulations, Sections 163(f), 871(h)(2) and 881(c)(2) of the Code
and any related regulations (and any successor provisions). 
 ARTICLE VI 

CLOSING CONDITIONS 
 SECTION 6.01.
Loan Closing Documentation. The obligation of the Lender to advance any portion of the Loan on the First Closing Date and the Second Closing Date, if any, shall be subject to the following conditions precedent: 

(a) Borrower shall have executed and delivered to the Lender the Note, dated the applicable Closing Date. 

(b) Borrower shall have executed and delivered to the Lender this Agreement, the Security Agreement and the Warrant, each dated the First
Closing Date. 
 (c) Borrower shall have delivered to the Lender an executed copy of an opinion of Wilson Sonsini Goodrich & Rosati,
counsel to Borrower Parties, dated the Closing Date, substantially in the form of Exhibit D and otherwise in form and substance satisfactory to the Lender. 

(d) Each Borrower Party shall have delivered to the Lender a certificate, dated the First Closing Date and the Second Closing Date, if any, of
a senior officer of such Borrower Party (the statements in which shall be true and correct on and as of the applicable Closing 

  
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Date): (i) attaching copies, certified by such officer as true and complete, of such Borrower Party’s certificate of incorporation or other organizational documents (together with any
and all amendments thereto) certified by the appropriate Governmental Authority as being true, correct and complete copies; (ii) attaching copies, certified by such officer as true and complete, of resolutions of the Board of Directors (or
similar governing body) of such Borrower Party authorizing and approving the execution, delivery and performance by such Borrower Party of this Agreement, the other Loan Documents and the transactions contemplated herein and therein;
(iii) setting forth the incumbency of the officer of such Borrower Party who executed and delivered this Agreement, including therein a signature specimen of each such officer; and (iv) attaching copies, certified by such officer as true
and complete, of certificates of the appropriate Governmental Authority of the jurisdiction of formation, stating that such Borrower Party was in good standing under the laws of such jurisdiction as of the applicable Closing Date. 

(e) Each Borrower Party shall have executed and delivered to the Lender a Deposit Account Control Agreement and a Securities Account Control
Agreement, as applicable, dated the First Closing Date and any deliverables contemplated by the Loan Documents. 
 (f) With respect to the
First Closing Date, the Lender shall have exercised setoff pursuant to Section 2.03 with respect to all fees and expenses due and payable to the Lender on the First Closing Date. 

(g) No event shall have occurred and be continuing that (i) constitutes a Default or an Event of Default or (ii) could reasonably be
expect to constitute a Material Adverse Effect, in each case both at the time of, and immediately after giving effect to, the making of the Loans on the applicable Closing Date. 

(h) The representations and warranties made by each Borrower Party in Article VII hereof and in the other Transaction Documents shall be true
and correct in all material respects as of the applicable Closing Date, before and after giving effect to the Loans (except that any representation or warranty that is qualified as to “materiality” or “Material Adverse Effect” or
similar qualifier shall be true and correct in all respects), and Borrower shall have executed and delivered to the Lender a certificate of an officer, dated as of the applicable Closing Date, certifying the same (the “Bring-Down
Certificate”). In the case of the Second Closing Date, the Bring-Down Certificate will also certify the Updated Letter, together with documentation reasonably supporting each item disclosed. 

(i) All necessary governmental and third-party approvals, consents and filings, including in connection with the Loans, the Security Agreement
and the other Loan Documents shall have been obtained or made and shall remain in full force and effect. 
 (j) Borrower and its Subsidiaries
shall have delivered to the Lender all certificates, agreements or instruments representing or evidencing any Capital Stock or debt securities or instruments pledged pursuant to the Security Agreement accompanied by instruments of transfer or stock
powers undated and endorsed in blank. 

  
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 (k) Borrower shall have delivered to the Lender the Perfection Certificate and certified copies
of UCC, United States Patent and Trademark Office and United States Copyright Office, tax and judgment lien searches, or equivalent reports or searches, each of a recent date listing all effective financing statements, lien notices or comparable
documents that name any Borrower Party as debtor and that are filed in those state and county jurisdictions in which any Borrower Party is organized or maintains its principal place of business and such other searches that are required by the
Perfection Certificate or that the Lender deems necessary or appropriate, none of which encumber the Collateral covered or intended to be covered by the Loan Documents (other than any Permitted Liens and other Liens acceptable to the Lender). 

(l) The Lender shall have received a copy of, or a certificate as to coverage under, the insurance policies required by Section 8.05, each
of which shall be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgagee endorsement (as applicable) and shall name the Lender, as additional insured, in form and substance
reasonably satisfactory to the Lender. 
 (m) The Lender shall have received all documentation and other information required by bank
regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation, the Patriot Act, including, without limitation, the information described in Section 13.19.

 (n) The Lender shall have received evidence reasonably satisfactory to the Lender that the debt owed by Borrower to Silicon Valley Bank
shall be paid and satisfied in full prior to or simultaneous with the First Closing Date, including payoff and release letters in form and substance reasonably satisfactory to the Lender with respect to such debt owed by Borrower to Silicon Valley
Bank. 
 ARTICLE VII 

REPRESENTATIONS AND WARRANTIES 

SECTION 7.01. Representations and Warranties of Borrower Parties. Each Borrower Party hereby represents and warrants to Lender as of the date
of this Agreement and as of each Closing Date (except for any representations and warranties which speak as to a specific date, which representations and warranties shall be made as of the date specified) as follows: 

(a) Borrower and each of its Subsidiaries (i) is a corporation duly incorporated, validly existing and in good standing under the Laws of
its jurisdiction of incorporation; (ii) has all necessary powers, licenses, authorizations, consents and approvals required to carry on its business as now conducted and to own and lease its properties except where the failure to have the same
could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; and (iii) is duly qualified to do business as a foreign corporation, and is in good standing, in every jurisdiction where the failure to be
so qualified or in good standing has not had, and could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

(b) Schedule 7.01(b) to the Disclosure Letter contains a complete and accurate list as of the First Closing Date of each jurisdiction in
which Borrower and its Subsidiaries are qualified to do business. 

  
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 (c) Each Borrower Party has all necessary power and authority to enter into, execute and deliver
this Agreement and the other Loan Documents and to perform all of the obligations to be performed by it hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. 

(d) This Agreement and each other Loan Document to which each Borrower Party is a party has been duly authorized, executed and delivered by
each Borrower Party and constitutes, and each of the other Loan Documents, when executed and delivered by each Borrower Party, will constitute, the valid and binding obligation of each Borrower Party, enforceable against each Borrower Party in
accordance with its terms, subject, as to enforcement of remedies, to bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally or general equitable principles (regardless of whether enforcement is
sought in equity or at Law). 
 (e) None of the execution and delivery by each Borrower Party of the Loan Documents, the performance by each
Borrower Party of any of the obligations to be performed by them hereunder or thereunder, or the consummation by each Borrower Party of any of the transactions contemplated hereby or thereby, will require any notice to, action, approval or consent
by, or in respect of, or filing or registration with, any Governmental Authority or other Person, except filings necessary to perfect Liens created by the Loan Documents. 

(f) No consent or approval of, or notice to, any Person is required by the terms of any Material Contract for the execution or delivery of, or
the performance of the obligations of each Borrower Party under, this Agreement and the other Loan Documents to which each Borrower Party is party or the consummation of the transactions contemplated hereby or thereby, and such execution, delivery,
performance and consummation will not result in any breach or violation of, or constitute a default under Borrower Party Documents, any Material Contract or any Law applicable to Borrower, any of its Subsidiaries or any of its or their assets,
subject in each case to the application of Sections 9-406, 9-407 and 9-408 of the UCC as then in effect in any relevant jurisdiction. 
 (g)
Borrower and its Subsidiaries are the exclusive owners of the entire right, title (legal and equitable) and interest (subject to Permitted Liens) in and to all material Collateral, Regulatory Approvals and Intellectual Property for which it is
listed as the owner on Schedule 7 to the Perfection Certificate. Borrower and its Subsidiaries have not granted to any Person any license or covenant not to sue under any Intellectual Property for which it is listed as the owner on
Schedule 7 to the Perfection Certificate or Regulatory Approvals. 
 (h) There are no actions, proceedings or claims pending or, to
the Knowledge of Borrower, threatened which could reasonably be expected to have a Material Adverse Effect or that challenge the validity of the Transaction Documents. 

(i) No Default or Event of Default has occurred and is continuing, and no such event will occur upon the making of the applicable Loan. 

  
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 (j) With respect to each Material Contract (a) each such Contract is a valid and binding
agreement and each such Contract is in full force and effect, and (b) Borrower and each of its Subsidiaries is in compliance in all material respects with each such Material Contract and no Borrower Party has Knowledge of any default by a
Borrower Party under any such Material Contract which could give rise to any termination right of the applicable Contract Party which default has not been cured or waived. Schedule 7.01(j) to the Disclosure Letter is a list of all Material
Contracts as of the First Closing Date and Second Closing Date. 
 (k) All written information heretofore or herein supplied by or on behalf
of Borrower or any of its Subsidiaries to the Lender is accurate and complete in all material respects, and none of such information, when taken together with all other information furnished, contains any untrue statement of a material fact or omits
to state any material fact necessary to make such information not materially misleading in light of the circumstances under which made. There is no fact or circumstance known to Borrower that could reasonably be expected to have a Material Adverse
Effect that has not been expressly disclosed in this Agreement, in the other Loan Documents or in any other documents, certificates and statements furnished to the Lender for use in connection with the transactions contemplated hereby. All
representations and warranties made by each Borrower Party in any of the other Loan Documents to which it is party are true and correct in all material respects. 

(l) The Financial Statements (reported on and accompanied by an unqualified report from Borrower’s independent auditor) are complete and
accurate in all material respects, were prepared in conformity with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and present fairly in all material respects, in accordance with
applicable requirements of GAAP, the consolidated financial position and the consolidated financial results of the operations of Borrower and its Subsidiaries as of the dates and for the periods covered thereby and the consolidated statements of
cash flows of Borrower and its Subsidiaries for the periods presented therein. Since December 31, 2012, there has been no Material Adverse Effect. Borrower and its Subsidiaries have no Indebtedness (or other Liabilities) other than
(i) identified in the audited Financial Statements or (ii) incurred by Borrower or its Subsidiaries in the ordinary course of business since December 31, 2012 or (iii) otherwise listed and described on Schedule 7.01(l) to
the Disclosure Letter. 
 (m) After giving effect to the making of the Loans: 

(i) The aggregate value of the assets of Borrower, at fair value and present fair salable value, exceeds (i) its
Liabilities and (ii) the amount required to pay such Liabilities as they become absolute and matured in the normal course of business; 

(ii) Borrower has the ability to pay its debts and Liabilities as they become absolute and matured in the normal course of
business; and 
 (iii) Borrower does not have an unreasonably small amount of capital with which to conduct its business.

 (n) Borrower’s Subsidiaries as of the First Closing Date are set forth on Schedule 7.01(n) to the Disclosure Letter. 

  
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 (o) Such Borrower Party’s chief executive office as of the First Closing Date is set forth
on Schedule 7.01(o) to the Disclosure Letter. 
 (p) (i) Borrower and its Subsidiaries are in compliance with all applicable Laws
except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To Borrower’s Knowledge, no prospective change in any applicable laws, rules, ordinances or
regulations has been proposed or adopted which, when made effective, could individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(ii) Borrower and its Subsidiaries possess all material certificates, authorizations and permits issued or required by the
appropriate federal, state, local or foreign regulatory authorities necessary to conduct their business as presently conducted, including all such certificates, authorizations and permits required by the FDA or any other federal, state, local or
foreign agencies or bodies engaged in the regulation of medical devices, pharmaceuticals or biohazardous substances or materials except where the failure to possess such certificates, authorizations and permits, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect. Neither Borrower nor any of its Subsidiaries have received any notice of proceedings relating to, and to the Knowledge of each Borrower Party there are no facts or
circumstances that could reasonably be expected to lead to, the revocation, suspension, termination or modification of any such certificate, authorization or permit. 

(iii) To the Knowledge of Borrower, there has been no indication that the FDA or any other Regulatory Agency has any material
concerns with any Included Product or may not approve any Included Product, nor has any Included Product, to the Knowledge of Borrower, suffered any material adverse events in any clinical trial. 

(q) Neither Borrower nor any of its Subsidiaries is an investment company subject to regulation under the Investment Company Act of 1940. 

(r) Borrower has timely filed all tax returns required to be filed by it and has paid all taxes due reported on such returns or pursuant to any
assessment received by Borrower, except for failures to file tax returns or pay taxes that, individually, and in the aggregate, are not reasonably expected to result in a Material Adverse Effect. Any charges, accruals or reserves on the books of
Borrower in respect of taxes are adequate except for inadequacies that, individually, and in the aggregate, are not reasonably expected to result in a Material Adverse Effect. Borrower has had no material liability for any taxes imposed on or with
respect to its net income (except for state or local income or franchise taxes). Borrower has fulfilled all its obligations with respect to withholding taxes except for failures that, individually, and in the aggregate, are not reasonably expected
to result in a Material Adverse Effect. 
 (s) Neither Borrower nor any ERISA Affiliate has ever incurred any unsatisfied material liability
or expects to incur any material liability under Title IV or Section 302 of ERISA or Section 412 of the Code or any similar non-U.S. law or maintains or contributes to, or is or has been required to maintain or contribute to, any employee
benefit plan (as defined in Section 3(3) of ERISA) subject to Title IV or Section 302 of ERISA or Section 412 of the Code 

  
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or any non-U.S. law. The consummation of the transactions contemplated by this Agreement will not constitute or result in any non-exempt prohibited transaction that would result in material
liabilities to Borrower under Section 406 of ERISA, Section 4975 of the Code or substantially similar provisions under any foreign or U.S. federal, state or local laws, rules or regulations. Neither Borrower nor any of its Subsidiaries has
incurred any material liability with respect to any obligation to provide benefits, including death or medical benefits, with respect to any person beyond their retirement or the termination of service other than coverage mandated by law. 

(t) Neither Borrower nor any of its Subsidiaries nor any of its directors, officers, employees or, to the Knowledge of each Borrower Party,
Affiliates or agents, has taken any action, directly or indirectly, that would result in a violation by such Persons of the FCPA, including making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an
offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or
any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA. Borrower, any of its Subsidiaries and, to the Knowledge of each Borrower Party, its Affiliates have conducted their
respective businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. 

(u) Borrower and its Subsidiaries maintain a system of accounting controls that is sufficient to provide reasonable assurances that
(i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain
accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. 
 (v) The Security Agreement is effective to create in favor of
the Lender, legal, valid and enforceable (subject to bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally or general equitable principles (regardless of whether enforcement is sought in equity
or at Law)) Liens on, and security interests in, the Collateral and, when (x) financing statements and other filings in appropriate form are filed in the offices specified on Schedule 7.01(v) to the Disclosure Letter and
(y) upon the taking of possession or control by the Lender of the Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to Lender to the extent possession
or control by the Lender is required by the Security Agreement), the Liens created by the Security Agreement shall constitute fully perfected Liens on, and security interests in, all right, title and interest of the Guarantors thereunder in the
Collateral, to the extent a security interest in the Collateral can be perfected by the making of such filings or the taking of possession or control, in each case subject to no Liens other than Permitted Liens. 

(w) When financing statements in appropriate form are filed in the offices specified on Schedule 7.01(v) to the Disclosure Letter and
when the Security Agreement or a short form thereof is filed in the United States Patent and Trademark Office and the United 

  
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States Copyright Office, the Liens created by the Security Agreement shall constitute fully perfected Liens on, and security interests in, all right, title and interest of the grantors thereunder
in the Patents and Trademarks (as such term are defined in the Security Agreement) registered or applied for with the United States Patent and Trademark Office or Copyrights (as such term is defined in the Security Agreement) registered or applied
for with the United States Copyright Office, as the case may be, in each case subject to no Liens other than Permitted Liens. Borrower and its Subsidiaries have not granted, nor does there exist, any Lien on or with respect to any of the Collateral,
except Permitted Liens. 
 (x) Borrower and its Subsidiaries own, and are the sole holders of, and/or have and hold a valid, enforceable and
subsisting license to, all assets that are required to produce or receive any payments from any contract party or payor under and pursuant to, and subject to the terms of any Material Contract where Borrower or any Subsidiary is the licensee.
Neither Borrower nor any Subsidiary has transferred, sold, or otherwise disposed of, or agreed to transfer, sell, or otherwise dispose of any portion of its respective rights to receive payment of royalties owing or to become owing to it under any
Material Contracts, except as expressly provided in such Material Contracts. To the Knowledge of each Borrower Party, no Person other than Borrower or any Subsidiary has any right to receive the payments payable under any Material Contract, other
than Lender and other than Persons party to the Material Contracts. 
 (y) The claims and rights of the Lender created by this Agreement and
any other Loan Document in and to the Collateral will be senior to any Indebtedness or other obligation of Borrower Parties, with respect to such Collateral other than with respect to obligations secured by Permitted Liens. 

(z) Borrower and its Subsidiaries have good title to, or valid leasehold interests in, all its tangible personal property material to its
business, free and clear of all Liens (other than Permitted Liens) and minor irregularities or deficiencies in title that, individually or in the aggregate, do not materially interfere with its ability to conduct its business as currently conducted
or to utilize such property for its intended purpose. The tangible personal property of Borrower and its Subsidiaries, taken as a whole, (i) is in good operating order, condition and repair (ordinary wear and tear and casualty and condemnation
excepted) and (ii) constitutes all the property which is required for the business and operations of Borrower and its Subsidiaries, as presently conducted, except where the failure to be in such order, condition or repair or to constitute all
such property required could not reasonably be expected to have a Material Adverse Effect. 
 (aa) Schedule 7.01(aa) to the Disclosure
Letter contains a true and complete list of each interest in real property (i) owned by Borrower and its Subsidiaries (describing the type of interest therein held by Borrower and its Subsidiaries); and (ii) leased, subleased or otherwise
occupied or utilized by Borrower and its Subsidiaries, as lessee, sublessee, franchisee or licensee (describing the type of interest therein held by Borrower and its Subsidiaries) and, in each of the cases described in clauses (i) and
(ii) of this clause (aa), whether any lease requires the consent of the landlord or tenant thereunder, or other party thereto, to the transactions contemplated by the Loan Documents. 

  
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 (bb) Schedule 7.01(bb) to the Disclosure Letter sets forth a complete and accurate list of
the Patents, including the following: Schedule 7.01(bb)(a) to the Disclosure Letter sets forth a complete and accurate list of the Owned Patents; Schedule 7.01(bb)(b) to the Disclosure Letter sets forth a complete and accurate list of
the Exclusively Licensed Patents; and Schedule 7.01(bb)(c) to the Disclosure Letter sets forth a complete and accurate list of the Non-Exclusively Licensed Patents. For each Patent set forth on Schedule 7.01(bb) to the Disclosure
Letter, Borrower has indicated: (i) the application number; (ii) the patent or registration number, if any; (iii) the country or other jurisdiction where the Patent was issued, registered, or filed; (iv) the scheduled expiration
date of any issued Patent, including a notation if such scheduled expiration date includes a term extension or supplementary protection certificate and (iv) the owner. 

(cc) Borrower (or the Borrower Party indicated on Schedule 7.01(bb)(a)) to the Disclosure Letter) is the sole and exclusive owner of the
entire right, title and interest in each of the Owned Patents. The Owned Patents are not subject to any encumbrance, lien or claim of ownership by any Third Party, and there are no facts that would preclude Borrower from having unencumbered title to
the Owned Patents. No Borrower Party has received any notice of any claim by any Third Party challenging the ownership of the rights of Borrower Parties in and to the Owned Patents. 

(dd) Borrower Parties collectively have a valid, exclusive license to use each of the Exclusively Licensed Patents. There have not been, nor
are there any pending or threatened to Borrower’s Knowledge, disputes relating to Borrower’s right to use the Exclusively Licensed Patents. All Contracts relating to Borrower’s rights in the Exclusively Licensed Patents have been
provided to the Lender prior to the Closing Date. 
 (ee) Borrower has a valid, non-exclusive license to use each of the Non-Exclusively
Licensed Patents. There have not been, nor are there any pending or threatened to Borrower’s Knowledge, disputes relating to Borrower’s right to use the Non-Exclusively Licensed Patents. All Contracts relating to Borrower’s rights in
the Non-Exclusively Licensed Patents have been provided to the Lender prior to the Closing Date. 
 (ff) To Borrower’s Knowledge, each
of the Patents is valid, enforceable and subsisting unless otherwise indicated on Schedule 7.01(bb) to the Disclosure Letter. Borrower has not received any opinion of counsel that any of the Patents is invalid or unenforceable. No Borrower
Party has received any notice of any claim by any Third Party challenging the validity or enforceability of any of the Patents. 
 (gg) Each
individual associated with the filing and prosecution of the Patents has complied, and will continue to comply, in all material respects with all applicable duties of candor and good faith in dealing with any Patent Office, including any duty to
disclose to any Patent Office all information known by such individual to be material to patentability of each such Patent, in those jurisdictions where such duties exist. Except for information disclosed to the applicable Patent Office during
prosecution of the Patents, to Borrower’s Knowledge, there are no patents, published patent applications, articles, abstracts or other prior art deemed material to patentability of any of the inventions claimed in such Patents, or that would
otherwise reasonably be expected to materially adversely affect the validity or enforceability of any of the claims of such Patents. 

  
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 (hh) To Borrower’s Knowledge, each of the Patents correctly identifies each and every
inventor of the claims thereof as determined in accordance with the laws of the jurisdiction in which such Patent was issued or is pending. There is not any Person who is or claims to be an inventor of any of the Patents who is not a named inventor
thereof. No Borrower Party has received any notice from any Person who is or claims to be an inventor of any of the Patents who is not a named inventor thereof. 

(ii) Each Person who has or has had any rights in or to the Patents, including each inventor named on the Patents, has executed a Contract
assigning their entire right, title and interest in and to such Patents and the inventions embodied, described and/or claimed therein, to the owner thereof, and each such Contract has been duly recorded at the United States Patent and Trademark
Office. 
 (jj) There are no unpaid maintenance fees, annuities or other like payments with respect to the Patents. 

(kk) No issued Patent has lapsed, expired or otherwise been terminated unless otherwise indicated on Schedule 7.01(bb) to the Disclosure
Letter. 
 (ll) The conception, development and reduction to practice of the inventions claimed in the Patents have not constituted or
involved the misappropriation of trade secrets or other rights or property of any Third Party. 
 (mm) No Borrower Party has filed any
disclaimer, other than a terminal disclaimer, or made or permitted any other voluntary reduction in the scope of any Patent. 
 (nn) Neither
Borrower nor any other Person has undertaken or omitted to undertake any acts, and no circumstances or grounds exist, that would void, invalidate, reduce or eliminate, in whole or in part, the enforceability or scope of any of the Patents. 

(oo) There have not been, nor are there any pending or, to Borrower’s Knowledge, threatened, litigations, interferences, reexaminations,
oppositions, or like procedures involving any of the Patents. 
 (pp) No Third Party Patent Right has been, or is, or will be, infringed by
Borrower’s Exploitation of the Included Product. To Borrower’s Knowledge, no Patent Right other than the Patents is necessary for Borrower to Exploit the Included Product. Except as set forth on Schedule 7.01(pp) to the Disclosure
Letter, Borrower has not received any notice of any claim by any Third Party asserting that Borrower’s Exploitation of the Included Product infringes such Third Party’s Patents Rights. Borrower has not received any opinion of counsel
regarding infringement or non-infringement of any Third Party Patent Rights by Borrower’s Exploitation of the Included Product. 
 (qq)
To Borrower Parties’ Knowledge, there are no pending, published patent applications owned by any Third Party, which Borrower Parties do not have the right to use, which if issued, would limit or prohibit in any material respect Borrower
Parties’ Exploitation of the Included Product. 

  
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 (rr) To Borrower Parties’ Knowledge, no Third Party is infringing any of the issued Patents.
No Borrower Party has put any Third Party on notice of any of the issued Patents. Absent the ownership of, or a license to, by a Third Party, the manufacture, use or sale of each Key Included Product by such Third Party would be covered by at least
one valid issued claim of the patents set forth in Schedule 7.01(bb) to the Disclosure Letter. 
 (ss) There is no pending, decided or
settled Dispute, nor has any such Dispute been threatened, in each case challenging the legality, validity, enforceability or ownership of any Patent. 

(tt) There are no Disputes between Borrower and a Third Party relating to Borrower’s Exploitation of the Included Product. Borrower has
not received or given notice of any such Dispute, and to Borrower Parties’ Knowledge, there exists no circumstances or grounds upon which any such claims could be asserted. The Patents are not subject to any outstanding injunction, judgment or
other decree, ruling, charge settlement or other disposition of any Dispute. 
 (uu) There are no copyrights, trademarks, trade secrets,
copyrights, trade secrets or net names material to Borrower Parties’ Exploitation of the Included Product. 
 (vv) Borrower and
Borrower’s Subsidiaries have the insurance policies with the coverages and limits set forth on Schedule 7.01(vv) to the Disclosure Letter, carried with the insurance companies also set forth therein. 

SECTION 7.02. Survival of Representations and Warranties. All representations and warranties of Borrower Parties contained in this Agreement
shall survive the execution, delivery and acceptance thereof by the Parties and the closing of the transactions described in this Agreement. 

ARTICLE VIII 
 AFFIRMATIVE
COVENANTS 
 From the First Closing Date until all Obligations (other than inchoate indemnity obligations) are satisfied in full, Borrower
shall do all of the following: 
 SECTION 8.01. Maintenance of Existence. Borrower and/or any of its Subsidiaries party to the Loan Documents
shall at all times (a) preserve, renew and maintain in full force and effect its (i) legal existence (except in each case as otherwise permitted by Section 9.02(a) hereof) and (ii) good standing as a corporation under the Laws of
the jurisdiction of its organization; (b) not change its name or its chief executive office as set forth herein without having given the Lender simultaneous notice thereof; (c) take all reasonable action to maintain all rights, privileges,
permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (d) preserve or renew all
Intellectual Property of Borrower, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 

  
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 SECTION 8.02. Use of Proceeds. 

(a) Borrower shall use the net proceeds of the Loan received by it (a) to repay in full in cash the outstanding principal amount of the
debt, all interest accrued thereon and all fees and other amounts outstanding between the Borrower and Silicon Valley Bank on the First Closing Date and (b) for general corporate purposes. 

SECTION 8.03. Financial Statements and Information. 

(a) Borrower shall furnish to the Lender, on or before the forty-fifth day after the close of each quarter of each fiscal year, the unaudited
consolidated balance sheet of Borrower as at the close of such quarter and unaudited consolidated statement of operations and comprehensive loss and cash flows of Borrower for such quarter, duly certified by the chief financial officer of Borrower
as having been prepared in accordance with GAAP and fairly presenting the consolidated financial condition and results of operations of Borrower Parties and Subsidiaries. Concurrently with the delivery or filing of the documents described in the
preceding sentence, Borrower shall furnish to the Lender a certificate of the chief financial officer, chief accounting officer or treasurer of Borrower, which certificate shall include a statement that such officer has no knowledge, except as
specifically stated, of any condition, event or act which constitutes a Default or Event of Default. 
 (b) On or before the two hundred
tenth day after the close of each fiscal year, Borrower’s audited financial statements as at the close of such fiscal year, including the consolidated balance sheet as at the end of such fiscal year and consolidated statement of operations and
cash flows of Borrower for such fiscal year, in each case accompanied by the report thereon of independent registered public accountant of nationally recognized standing reasonably satisfactory to the Lender. Concurrently with the delivery or filing
of the documents described in the preceding sentence, Borrower shall furnish to the Lender a certificate of the chief financial officer, chief accounting officer or treasurer of Borrower, which certificate shall include a statement that such officer
has no knowledge, except as specifically stated, of any condition, event or act which constitutes a Default or Event of Default. 
 (c)
Borrower shall furnish or cause to be furnished to the Lender from time to time such other information regarding the financial position, assets or prospects of Borrower or any other Subsidiary or its compliance with any Loan Document to which it is
a party or the business of Borrower and its Subsidiaries as presently conducted as the Lender may from time to time reasonably request. 

(d) The Lender and its Representatives shall have the right, from time to time but, except during the continuance of a Default or Event of
Default, no more than once per six months, during normal business hours and upon at least ten (10) Business Days’ prior written notice to Borrower, to visit the offices and properties of Borrower and its Subsidiaries where books and
records relating or pertaining to the Collateral are kept and maintained, to inspect and make extracts from and copies of such books and records, to discuss, with officers of Borrower and its Subsidiaries, the business, operations, properties and
financial and other condition of Borrower and its Subsidiaries. 
 (e) Borrower shall deliver to Lender such information and data relating or
pertaining to the Collateral in Borrower’s possession or control, including, without limitation, copies of internally generated marketing plans and information related to the Included Products, as Lender shall reasonably request, promptly upon
such request. 

  
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 (f) Borrower shall, upon at least ten (10) Business Days’ prior written notice from the
Lender, (i) cause such of the executive officers, vice presidents, senior directors and directors of Borrower as shall be identified by the Lender in such notice, and, (ii) if requested by the Lender in such notice, request Borrower’s
auditors, in each such case, to meet, or, at the Lender’s option, to participate in a conference call with, the Lender for the purpose of discussing the business, operations, properties and financial and other condition of Borrower and its
Subsidiaries; provided that in the case of (i) above, absent an Event of Default, such request shall not be made more than once every quarter and provided, further that in the case of (ii) above, (a) absent an
Event of Default, such request shall not be made more than once every year and in the case of an Event of Default, such request shall not be made more than once every six months and (b) a Representative of Borrower (chosen by Borrower) shall be
permitted to be present for such meetings and discussions with Borrower’s auditors. 
 (g) All written information supplied by or on
behalf of Borrower or any of its Subsidiaries to the Lender pursuant to this Section 8.03 shall be accurate and complete in all material respects as of its date or the date so supplied, and, in the case of written information supplied pursuant
to Sections 8.03(a) and 8.03(b), none of such information shall contain any untrue statement of material fact or omit to state any material fact necessary in order to make the statements therein not materially misleading in light of the
circumstances under which made, as of its date or the date filed with the SEC or if not so filed so delivered to the Lender 
 SECTION 8.04.
Books and Records. Borrower shall keep proper books, records and accounts in which entries in conformity with sound business practices and all requirements of Law applicable to it shall be made of all dealings and transactions in relation to its
business, assets and activities and as shall permit the preparation of the consolidated financial statements of Borrower in accordance with GAAP. 

SECTION 8.05. Maintenance of Insurance and Properties. Borrower and its Subsidiaries shall maintain and preserve all of its properties that
are used and useful in the conduct of the business of Borrower Parties and Subsidiaries as presently conducted, and as presently contemplated to be conducted, in good working order and condition, ordinary wear and tear excepted, except where the
failure to do so could not reasonably be expected to have a Material Adverse Effect. Borrower shall maintain insurance policies with the same or better coverages and limits as those set forth on Schedule 7.01(vv) to the Disclosure Letter with
an Insurance Provider. Borrower shall furnish to the Lender from time to time upon written request full information as to the insurance carried. 

SECTION 8.06. Governmental Authorizations. Borrower shall obtain, make and keep in full force and effect all authorizations from and
registrations with Governmental Authorities that may be required for the validity or enforceability against Borrower of this Agreement and the other Transaction Documents to which it is a party. 

  
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 SECTION 8.07. Compliance with Laws and Contracts. 

(a) Borrower and any of its Subsidiaries shall comply with all applicable Laws and perform its obligations under all Material Contracts
relative to the conduct of its business, including the Transaction Documents to which it is party except where the failure to comply could not reasonably be expected to result in a Material Adverse Effect. Borrower shall use commercially reasonable
efforts to, and shall cause the Subsidiaries to take all actions necessary to enforce its rights under each Material Contract and perform all of its material obligations under each Material Contract, in each case, to the extent commercially
reasonable. 
 (b) Borrower shall at all times comply with the margin requirements set forth in Section 7 of the Exchange Act and any
regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. 

SECTION 8.08. Plan Assets. Borrower shall not take any action that causes its assets to be deemed to be Plan Assets at any time. 

SECTION 8.09. Notices. 
 (a)
Borrower shall promptly give written Notice to the Lender of each Default or Event of Default and each other event that has or could reasonably be expected to have a Material Adverse Effect; provided that in any situation where Borrower knows
a press release or other public disclosure is to be made, Borrower shall use all commercially reasonable efforts to provide such information to the Lender as early as possible but in no event later than simultaneously with such release or other
public disclosure. 
 (b) Borrower shall promptly give written notice to the Lender, and forward or cause to be forwarded to the Lender
copies of all Notices, upon receiving Notice, or otherwise becoming aware, of any default or event of default under any Material Contract and copies of all other material Notices under any Material Contract. 

(c) Borrower shall, promptly after becoming aware thereof, give written Notice to the Lender of any litigation or proceedings to which Borrower
or any of its Subsidiaries is a party or which could reasonably be expected to have a Material Adverse Effect. 
 (d) Borrower shall,
promptly after becoming aware thereof, give written Notice to the Lender of any litigation filed or governmental proceedings instituted challenging the validity of the Intellectual Property Licenses, Intellectual Property of Borrower, the
Transaction Documents, or any of the transactions contemplated therein. 
 (e) Borrower shall, promptly after becoming aware thereof, give
written Notice to the Lender of any representation or warranty made or deemed made by Borrower in any of the Transaction Documents or in any certificate delivered to the Lender pursuant hereto shall prove to be untrue, inaccurate or incomplete in
any material respect on the date as of which made or deemed made. 
 (f) the occurrence of a Bankruptcy Event; and 

  
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 (g) with respect to any Included Product, the occurrence of (i) a “serious adverse
event”, (ii) a manufacturing disruption which has had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the level of inventory of such Included Product available for commercial sale or
(iii) any other Material Adverse Effect on the Exploitation of such Included Product. 
 SECTION 8.10. Payment of Taxes. Borrower shall
pay all material taxes of any kind imposed on or in respect of its income or assets before any penalty or interest accrues on the amount payable and before any Lien on any of its assets exists as a result of nonpayment except as provided in
Section 9.03 hereof and except for taxes contested in good faith by appropriate proceedings and for which adequate reserves are maintained in accordance with GAAP. 

SECTION 8.11. Waiver of Stay, Extension or Usury Laws. Borrower will not at any time, to the extent that it may lawfully not do so, insist
upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive Borrower from paying all or any portion of the principal of or premium, if
any, or interest on the Loans as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Agreement; and, to the extent that it may lawfully do so, Borrower hereby
expressly waives all benefit or advantage of any such law and expressly agrees that it will not hinder, delay or impede the execution of any power herein granted to the Lender, but will suffer and permit the execution of every such power as though
no such law had been enacted. 
 SECTION 8.12. Intellectual Property. 

(a) Borrower and its Subsidiaries shall, at their sole expense, prepare, execute, deliver and file any and all agreements, documents or
instruments which are necessary or desirable to (i) use commercially reasonable efforts to prosecute and maintain the Material Intellectual Property (including Patents therein); and (ii) use commercially reasonable efforts to defend or
assert such Material Intellectual Property against commercially significant infringement or interference by any other Persons, and against any claims of invalidity or unenforceability, in any jurisdiction (including by bringing any legal action for
infringement or defending any counterclaim of invalidity or action of a Third Party for declaratory judgment of non-infringement or non-interference). Borrower shall keep the Lender informed of all of such actions and the Lender shall have the
opportunity to participate and meaningfully consult with Borrower with respect to the direction thereof and Borrower shall consider all of the Lender’s comments in good faith. This subsection (a) shall apply only with respect to Material
Intellectual Property owned by Borrower or its Subsidiaries or, to the extent that Borrower or any Subsidiary has prosecution, maintenance and/or enforcement rights with respect thereto, licensed by Borrower or its Subsidiaries. 

(b) Borrower and its Subsidiaries shall use commercially reasonable efforts to prosecute all pending Patent applications within the Material
Intellectual Property for which it is an owner (or otherwise has rights to prosecute such Patents) consistent with standards in the medical device industry for similarly situated entities. 

(c) Borrower shall, and shall cause each Subsidiary to: 

  
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 (i) take reasonable measures to protect the proprietary nature of Material
Intellectual Property and to maintain in confidence all trade secrets and confidential information compromising a part thereof; 

(ii) not disclose and use commercially reasonable efforts to prevent any distribution or disclosure by others (including their
employees and contractors) of any item that contains or embodies Material Intellectual Property; and 
 (iii) take
reasonable physical and electronic security measures to prevent disclosure of any item that contains or embodies Material Intellectual Property. 

(d) Borrower and its Subsidiaries shall use commercially reasonable efforts to cause each individual associated with the filing and prosecution
of the Patents material to the conduct of the business of Borrower and its Subsidiaries to comply in all material respects with all applicable duties of candor and good faith in dealing with any Patent Office, including any duty to disclose to any
Patent Office all information known by such individual to be material to patentability of each such Patent, in those jurisdictions where such duties exist. 

(e) Borrower shall furnish the Lender from time to time upon Lender’s reasonable written request therefor reasonably detailed statements
and schedules further identifying and describing the Intellectual Property and such other materials evidencing or reports pertaining to any Intellectual Property as the Lender may reasonably request. 

SECTION 8.13. Security Documents; Further Assurances 

(a) Each Borrower Party shall promptly, upon the reasonable request of the Lender, at such Borrower Party’s expense, execute, acknowledge
and deliver, or cause the execution, acknowledgment and delivery of, and thereafter register, file or record, or cause to be registered, filed or recorded, in an appropriate governmental office, any document or instrument supplemental to or
confirmatory of the Loan Documents or otherwise deemed by the Lender reasonably necessary or desirable for the continued validity, perfection and priority of the Liens on the Collateral covered thereby subject to no other Liens except as permitted
by the applicable Loan Document, or obtain any consents or waivers as may be necessary or appropriate in connection therewith. Deliver or cause to be delivered to the Lender from time to time such other documentation, consents, authorizations,
approvals and orders in form and substance reasonably satisfactory to the Lender and the Lender shall reasonably deem necessary to perfect or maintain the Liens on the Collateral pursuant to the Loan Documents. Upon the exercise by the Lender of any
power, right, privilege or remedy pursuant to any Loan Document which requires any consent, approval, registration, qualification or authorization of any Governmental Authority execute and deliver all applications, certifications, instruments and
other documents and papers that the Lender may require. If the Lender determines that it is required by a requirement of Law to have appraisals prepared in respect of the real property of any Borrower Party constituting Collateral, Borrower shall
provide to the Lender appraisals in form and substance reasonably satisfactory to the Lender. 

  
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 SECTION 8.14. Information Regarding Collateral. No Borrower Party shall effect any change
(i) in any Borrower Party legal name, (ii) in the location of any Borrower Party’s chief executive office, (iii) in any Borrower Party’s identity or organizational structure, (iv) in any Borrower Party’s Federal
Taxpayer Identification Number or organizational identification number, if any, or (v) in any Borrower Party’s jurisdiction of organization (in each case, including by merging with or into any other entity, reorganizing, dissolving,
liquidating, reorganizing or organizing in any other jurisdiction), until (A) it shall have given the Lender not less than 10 days’ prior written notice (in the form of an certificate of a duly authorized officer of a Borrower Party
), or such lesser notice period agreed to by the Lender, of its intention so to do, clearly describing such change and providing such other information in connection therewith as the Lender may reasonably request and (B) it shall have taken all
action reasonably satisfactory to the Lender to maintain the perfection and priority of the security interest of the Lender in the Collateral, if applicable. Each Borrower Party agrees to promptly provide the Lender with certified Borrower Party
Documents reflecting any of the changes described in the preceding sentence. Each Borrower Party also agrees to promptly notify the Lender of any change in the location of any office in which it maintains books or records relating to Collateral
owned by it or any office or facility at which any portion of Collateral with a value in excess of $250,000 is located (including the establishment of any such new office or facility), other than (a) changes in location to a mortgaged property,
(b) Collateral which is in-transit or in the possession of employees, (c) Collateral which is out for repair or processing and (d) Collateral sold, licensed or otherwise disposed of in the ordinary course of business. 

(a) Concurrently with the delivery of financial statements pursuant to Section 8.03, Borrower shall deliver to the Lender a Perfection
Certificate Supplement. 
 SECTION 8.15. Additional Collateral; Additional Guarantors. 

(a) Subject to this Section 8.15, with respect to any property acquired after the First Closing Date by any Borrower Party that is not
already subject to the Lien created by any of the Loan Documents or specifically excluded from the requirement to be subject to such Lien in the Loan Documents, such Borrower Party shall promptly (and in any event within 30 days after the
acquisition thereof) (i) execute and deliver to the Lender such amendments or supplements to the relevant Loan Documents or such other documents as the Lender shall deem necessary or advisable to grant for its benefit, a Lien on such property
subject to no Liens other than Permitted Liens, and (ii) take all actions necessary to cause such Lien to be duly perfected in accordance with all applicable requirements of Law, including the filing of financing statements in such
jurisdictions as may be reasonably requested by the Lender. Each Borrower Party shall otherwise take such actions and execute and/or deliver to the Lender such documents as the Lender shall reasonably require to confirm the validity, perfection and
priority of the Lien of the Security Documents on such after-acquired properties. Notwithstanding any other provision in any Loan Document, (i) no Borrower Party shall be required to take any actions outside of the U.S. to perfect any Lien or
security interest in any assets which are located outside of the U.S. and (ii) no equity interests in (a) CFCs or (b) Domestic CFC Holdcos shall be required to be pledged, other than 65% of the voting and 100% of non-voting equity
interests in first-tier Foreign Subsidiaries that are CFCs or Domestic CFC Holdcos, as applicable. 

  
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 (b) With respect to any Person, other than a Domestic CFC Holdco, that is or becomes a domestic
Subsidiary of Borrower or any other Borrower Party after the Closing Date, such Borrower Party shall promptly (and in any event within 30 days after such Person becomes a Subsidiary) (i) deliver to the Lender the certificates, if any,
representing all of the Capital Stock of such Subsidiary, together with undated stock powers or other appropriate instruments of transfer executed and delivered in blank by a duly authorized officer of the holder(s) of such Capital Stock, and all
Intercompany Notes owing from such Subsidiary to any Borrower Party together with instruments of transfer executed and delivered in blank by a duly authorized officer of such Borrower Party and (ii) cause such new Subsidiary (A) to execute
a joinder agreement or such comparable documentation to become a Guarantor and a joinder agreement to the applicable Security Document, substantially in the form annexed thereto, (B) to deliver a Perfection Certificate and (C) to take all
actions necessary or advisable in the reasonable opinion of the Lender to cause the Lien created by the applicable Security Document to be duly perfected to the extent required by such agreement in accordance with all applicable requirements of Law,
including the filing of financing statements in such jurisdictions as may be reasonably requested by the Lender. 
 (c) Each Borrower Party
shall promptly grant to the Lender, within 30 days of the acquisition thereof, a security interest in and mortgage on each real property owned in fee by such Borrower Party that is acquired by such Borrower Party after the First Closing Date
and that, together with any improvements thereon, individually has a fair market value of at least $500,000, (unless the subject property is already mortgaged to a third party to the extent permitted by Section 9.03). Such mortgages shall be
granted pursuant to documentation reasonably satisfactory in form and substance to the Lender and shall constitute valid and enforceable (subject to bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights
generally or general equitable principles (regardless of whether enforcement is sought in equity or at Law)) perfected Liens subject only to Permitted Liens or other Liens acceptable to the Lender. The mortgages or instruments related thereto shall
be duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Lender required to be granted pursuant to the mortgages and all taxes, fees and other charges
payable in connection therewith shall be paid in full. Such Borrower Party shall otherwise take such actions and execute and/or deliver to the Lender such documents as the Lender shall reasonably require to confirm the validity, perfection and
priority of the Lien of any existing mortgage or new mortgage against such after-acquired real property (including a title policy, a survey and local counsel opinion (in form and substance reasonably satisfactory to the Lender) in respect of such
mortgage). 
 ARTICLE IX 

NEGATIVE COVENANTS 
 From the
First Closing Date until all Obligations (other than inchoate indemnity obligations) are satisfied in full, Borrower shall not do any of the following without Lender’s prior written consent: 

SECTION 9.01. Activities of Borrower. Neither Borrower nor any of its Subsidiaries shall amend, modify or waive or terminate (other than
expiration in accordance with its terms) any provision of, or permit or agree to the amendment, modification, waiver or termination 

  
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(other than expiration in accordance with its terms) of any provision of, any of the Loan Documents without the prior written consent of the Lender or any Material Contract that could reasonably
be expected to have a Material Adverse Effect without the prior written consent of the Lender. 
 SECTION 9.02. Merger; Sale of Assets. 

(a) Neither Borrower nor any of its Subsidiaries shall merge or consolidate with or into (whether or not Borrower is the Surviving Person) any
other Person and Borrower will not, and will not cause or permit any Subsidiary to, sell, convey, assign, transfer, lease, sublease, license, sublicense or otherwise dispose of (“Dispose of”) all or substantially all of Borrower’s and
its Subsidiaries assets (determined on a consolidated basis for Borrower and its Subsidiaries) to any Person in a single transaction or series of related transactions; provided that nothing in this Section 9.02(a) shall prohibit
(i) a Change of Control so long as Borrower complies with Section 3.02 in connection therewith, (ii) any merger or consolidation of any Subsidiary with or into any Person who is a Guarantor or Borrower (to the extent a Guarantor or
Borrower, as applicable, is the Surviving Person) or thereupon becomes a Guarantor pursuant to Section 8.15, (iii) any Foreign Subsidiaries of Borrower Parties merging with any other Foreign Subsidiary; (iv) any Subsidiary of the
Borrower may Dispose of all or substantially all of its assets to the Borrower or any Guarantor or, if it is a Foreign Subsidiary, any Foreign Subsidiary that is a Guarantor; and (v) any Subsidiary of the Borrower may dissolve, liquidate or
wind up its affairs at any time so long as its immediate parent becomes the owner of its remaining assets. 
 (b) Neither Borrower nor any of
its Subsidiaries shall sell, assign, convey, transfer, lease, sublease, license, sublicense or otherwise dispose of (including by way of merger or consolidation) any right, title or interest in or to any of the Included Products, other than
(A) pursuant to a Permitted Transfer, or (B) pursuant to a Change of Control so long as Borrower complies with Section 3.02 in connection therewith; provided, however, that, no Event of Default shall have occurred and be
continuing immediately prior to any such Permitted Transfer or shall occur as a result thereof. 
 SECTION 9.03. Liens. Neither Borrower nor
any of its Subsidiaries shall create or suffer to exist any Lien on or with respect to Collateral, except for Permitted Liens. 
 SECTION
9.04. Investment Company Act. Neither Borrower nor any of its Subsidiaries shall be or become an investment company subject to registration under the Investment Company Act of 1940. 

SECTION 9.05. Limitation on Additional Indebtedness. Neither Borrower nor any of its Subsidiaries shall, directly or indirectly, incur or
suffer to exist any Indebtedness; provided that Borrower and its Subsidiaries may incur: 
 (a) Indebtedness under this Agreement;

 (b) Indebtedness secured by Liens of any of the types described under clauses (b), (c), (d), (e), (h), (l) and (m) of the
definition of Permitted Liens, but only to the extent of the Indebtedness related thereto; 

  
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 (c) Indebtedness existing on the First Closing Date and set forth on Schedule 9.05(c) to the
Disclosure Letter; 
 (d) unsecured Indebtedness in an aggregate principal amount at any time outstanding not to exceed $250,000; 

(e) Indebtedness arising out of the refinancing, extension, renewal or refunding of any Indebtedness permitted by any of the foregoing clauses
of this Section 9.05, provided that such Indebtedness is not increased and is not secured by any additional assets; 
 (f)
intercompany Indebtedness (i) among Borrower Parties and (ii) owing by any Foreign Subsidiary to any other Foreign Subsidiary or any Borrower Party and (iii) owing by any Borrower Party to any Foreign Subsidiary that is a Guarantor;

 (g) any Bridge Financings in an aggregate principal amount at any time outstanding not to exceed $5,000,000; and 

(h) Indebtedness arising out of the Revolving Credit Facility. 

SECTION 9.06. Limitation on Transactions with Controlled Affiliates. Neither Borrower nor any of its Subsidiaries shall, directly or
indirectly, enter into any transaction or series of related transactions or participate in any arrangement (including any purchase, sale, lease or exchange of assets or the rendering of any service) with, or for the benefit of, any Controlled
Affiliate other than the Transaction Documents or in the ordinary course of business of Borrower upon fair and reasonable terms no less favorable to Borrower than it would obtain in a comparable arm’s-length transaction with a non-Controlled
Affiliate; provided that Borrower and its Subsidiaries may engage in the following transactions: 
 (a) reasonable and customary
director, officer and employee compensation (including bonuses) and other benefits (including retirement, health, stock option and other benefit plans) and indemnification arrangements, in each case approved in good faith by the Board of Directors
of Borrower; 
 (b) transactions with customers, clients, suppliers, joint venture partners or purchasers or sellers of goods and services,
in each case in the ordinary course of business and otherwise not prohibited by the Loan Documents; 
 (c) transactions (i) among
Borrower and its Wholly Owned Subsidiaries which are Guarantors and (ii) among Foreign Subsidiaries; 
 (d) transactions among Borrower
and Subsidiaries which are not Guarantors (i) in the ordinary course of business and (ii) reasonably necessary in connection with licenses of Intellectual Property and related rights with respect to the Exploitation of Included Products
outside of the U.S.; and 
 (e) transactions among Borrower Parties and their Foreign Subsidiaries specifically permitted by Sections 9.05(g)
and 9.02. 

  
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 SECTION 9.07. ERISA. 

(a) Neither Borrower nor any of its Subsidiaries shall maintain or contribute to, or agree to maintain or contribute to or otherwise incur any
liability with respect to, any Plan that could reasonably be expected to have a Material Adverse Effect. 
 (b) Neither Borrower nor any of
its Subsidiaries shall engage in a non-exempt prohibited transaction that would result in material liability to Borrower under Section 406 of ERISA, Section 4975 of the Code, or substantially similar provisions under foreign or U.S.
federal, state or local laws, rules or regulations or in any transaction that would cause any obligation or action taken or to be taken hereunder (or the exercise by the Lender of any of its rights under the Note, this Agreement or the Security
Agreement) to be a non-exempt prohibited transaction under such provisions. 
 (c) Neither Borrower nor any of its Subsidiaries will incur
any material liability with respect to any obligation to provide medical benefits with respect to any person beyond their retirement or other termination of service other than coverage mandated by law. 

SECTION 9.08. Restricted Payments. Borrower will not, and will not permit any Subsidiary to, directly or indirectly, make any Restricted
Payment, other than: (i) Borrower may convert any of its convertible securities issued and outstanding on the First Closing Date or any Bridge Financing permitted under Section 9.05(g) into non-redeemable equity securities of the Borrower
pursuant to the terms of such convertible securities or otherwise in exchange therefor, may pay accrued interest on such securities by issuing additional payment-in-kind securities with the same terms, may undertake cashless exercises of warrants or
options, and may pay immaterial amounts of cash in lieu of the issuance of fractional shares, (ii) Borrower may pay dividends solely in shares of capital stock; (iii) Borrower may repurchase the stock of former employees, directors,
officers or consultants (or current or former spouses, successors, administrators, heirs or legatees of the foregoing) pursuant to stock repurchase arrangements at a price equal to or less than the amount paid by such persons for such stock,
provided that the aggregate amount of all such repurchases does not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) per fiscal year; and (iv) any Subsidiary of Borrower may pay dividends to the Borrower or another Subsidiary of
Borrower. 
 SECTION 9.09. Amendment of Revolving Credit Facility and Organizational Documents. Borrower Parties will not, nor will it
permit any of its Subsidiaries to, amend, modify, waive, terminate or release the documentation governing the Revolving Credit Facility or any Borrower Party Document, in each case if the effect of such amendment, modification, waiver, termination
or release is materially adverse to the Lender. 
 ARTICLE X 

GUARANTEES 
 SECTION 10.01.
Guarantees. 
 (a) The Guarantors, hereby jointly and severally guarantee, as a primary obligor and not as a surety, to the Lender and its
permitted successors and assigns, the Guaranteed Obligations. The Guarantors hereby jointly and severally agree that if Borrower or any other 

  
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Guarantor shall fail to pay in full when due (whether at scheduled payment date, by required repayment or otherwise) any of the Guaranteed Obligations, the Guarantors will promptly pay the same
in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at scheduled payment date, by
requirement prepayment or otherwise) in accordance with the terms of such extension or renewal. 
 (b) The obligations of the Guarantors
under Section 10.01(a) shall constitute a guaranty of payment and to the fullest extent permitted by applicable Law, are absolute, irrevocable and unconditional, joint and several, irrespective of the value, genuineness, validity, regularity or
enforceability of the Guaranteed Obligations of Borrower and the Guarantors under this Agreement or any other agreement or instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for
any of the Guaranteed Obligations, and, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or Guarantor (except for payment in full). Without limiting the
generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which shall remain absolute, irrevocable and unconditional under any and all
circumstances as described above: 
 (i) at any time or from time to time, without notice to the Guarantors, the time for any
performance of or compliance with any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 

(ii) any of the acts mentioned in any of the provisions of this Agreement or any other agreement or instrument referred to
herein or therein shall be done or omitted; 
 (iii) the scheduled payment date of any of the Guaranteed Obligations shall be
accelerated, or any of the Guaranteed Obligations shall be amended in any respect, or any right under the Transaction Documents or any other agreement or instrument referred to herein or therein shall be amended or waived in any respect or any other
guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; 

(iv) any Lien or security interest granted to, or in favor of, the Lender as security for any of the Guaranteed Obligations
shall fail to be perfected; or 
 (v) the release of any other Guarantor pursuant to Section 10.01(h). 

(c) The Guarantors hereby expressly waive diligence, presentment, demand of payment, protest and all Notices whatsoever, and any requirement
that the Lender exhaust any right, power or remedy or proceed against Borrower under this Agreement, the Note or any other agreement or instrument referred to herein or therein, or against any other Person under any other guarantee of, or security
for, any of the Guaranteed Obligations. The Guarantors waive any and all notice of the creation, renewal, extension, waiver, termination or accrual of any of the Guaranteed Obligations and notice of or proof of reliance by the Lender upon this
Guarantee or acceptance of this Guarantee, and the Guaranteed Obligations, and any of them, shall conclusively 

  
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be deemed to have been created, contracted or incurred in reliance upon this Guarantee, and all dealings between Borrower and the Lender shall likewise be conclusively presumed to have been had
or consummated in reliance upon this Guarantee. This Guarantee shall be construed as a continuing, absolute, irrevocable and unconditional guarantee of payment without regard to any right of offset with respect to the Guaranteed Obligations at any
time or from time to time held by the Lender, and the obligations and liabilities of the Guarantors hereunder shall not be conditioned or contingent upon the pursuit by the Lender or any other Person at any time of any right or remedy against
Borrower and the Guarantors or against any other Person which may be or become liable in respect of all or any part of the Guaranteed Obligations or against any collateral security or guarantee therefor or right of offset with respect thereto. This
Guarantee shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon the Guarantors and the successors and assigns thereof, and shall inure to the benefit of the Lender and its successors and assigns,
notwithstanding that from time to time during the term of this Agreement there may be no Guaranteed Obligations outstanding. 
 (d) The
obligations of the Guarantors under this Section 10.01 shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of Borrower or any other Guarantor in respect of the Guaranteed Obligations is
rescinded or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise. 

(e) Each Guarantor hereby agrees that until the payment and satisfaction in full in cash of all Guaranteed Obligations under this Agreement it
shall not enforce any claim and shall not exercise any right or remedy, direct or indirect, arising by reason of any performance by it of its guarantee in Section 10.01(a), whether by subrogation or otherwise, against Borrower or any other
Guarantor of any of the Guaranteed Obligations or any security for any of the Guaranteed Obligations. 
 (f) The guarantee in this
Section 10.01 is a continuing guarantee of payment, and shall apply to all Guaranteed Obligations whenever arising. 
 (g) In any action
or proceeding involving any state corporate, limited partnership, or limited liability company Law, or any applicable state, federal or foreign bankruptcy, insolvency, reorganization or other Law affecting the rights of creditors generally, if the
obligations of any Guarantor under Section 10.01(a) would otherwise be held or determined to be void, voidable, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under
Section 10.01(a), then, notwithstanding any other provision of this Agreement to the contrary, the amount of such liability shall, without any further action by such Guarantor, any other Guarantor or any other Person, be automatically limited
and reduced to the highest amount (after giving effect to the right of contribution established in Section 10.01(a)) that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

 (h) If a Guarantor becomes a Transferred Guarantor, such Transferred Guarantor shall, upon the consummation of such sale or transfer, be
automatically released from its obligations under this Agreement (including under Article XII) and its obligations to pledge and grant any Collateral owned by it pursuant to any Security Document and the pledge of such

  
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Capital Stock to the Lender pursuant to the Security Documents shall be automatically released, and, so long as Borrower and its Subsidiaries shall have provided the Lender such certifications or
documents as it shall reasonably request, the Lender shall take such actions as are necessary to effect each release described in this clause (h) in accordance with the relevant provisions of the Security Documents, so long as Borrower and its
Subsidiaries shall have provided the Lender such certifications or documents as it shall reasonably request in order to demonstrate compliance with this Agreement. 

(i) Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its proportionate share of any payment made
hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of contribution shall be subject to
the terms and conditions of Section 10.01(e). The provisions of this Section 10.01(i) shall in no respect limit the obligations and liabilities of any Guarantor to the Lender, and each Guarantor shall remain liable to the Lender for the
full amount guaranteed by such Guarantor hereunder. 
 ARTICLE XI 

EVENTS OF DEFAULT 
 SECTION 11.01.
Events of Default. If one or more of Events of Default occurs and is continuing, the Lender shall be entitled to the remedies set forth in Section 11.02. 

SECTION 11.02. Default Remedies. If any Event of Default shall occur and be continuing, the Lender may, by Notice to Borrower,
(a) exercise all rights and remedies available to the Lender hereunder and under the Security Documents and applicable Law, including enforcement of the security interests created thereby, (b) declare the Loans, all interest thereon and
all other Obligations to be immediately due and payable, whereupon all such amounts shall become immediately due and payable, all without diligence, presentment, demand of payment, protest or further notice of any kind, which are expressly waived by
Borrower and the Guarantors and (c) declare the obligations of the Lender hereunder to be terminated, whereupon such obligations shall terminate; provided, however, that if any event of any kind referred to in clause (h) of
the definition of “Event of Default” herein occurs, the obligations of the Lender hereunder shall immediately terminate, all amounts payable hereunder by Borrower shall become immediately due and payable and the Lender shall be entitled to
exercise rights and remedies under the Security Documents and applicable Law without diligence, presentment, demand of payment, protest or notice of any kind, all of which are hereby expressly waived by Borrower and the Guarantors. Each Notice
delivered pursuant to this Section 11.02 shall be effective when sent. 
 SECTION 11.03. Right of Set-off; Sharing of Set-off. 

(a) If any amount payable hereunder is not paid as and when due, Borrower irrevocably authorizes the Lender and each Affiliate of the Lender
(i) to proceed, to the fullest extent permitted by applicable Law, without prior notice, by right of set-off, bankers’ lien, counterclaim or otherwise, against any assets of Borrower in any currency that may at any time be in the
possession of the Lender or such Affiliate, to the full extent of all amounts payable to the Lender hereunder or (ii) to charge to Borrower’s account with Lender the full extent of all amounts payable by Borrower to the Lender hereunder;
provided, however, that the Lender shall notify Borrower of the exercise of such right promptly following such exercise. 

  
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 (b) If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of its Loans or other obligations owed to such Lender resulting in such Lender’s receiving payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or
other obligations owed to such Lender greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the other Lenders of such fact, and (b) purchase (for cash at face
value) participations in the Loans and such other obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the
aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that the provisions of this Section 11.03(b) shall not be construed to apply to (x) any payment made by Borrower
pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee. 

SECTION 11.04. Rights Not Exclusive. The rights provided for herein are cumulative and are not exclusive of any other rights, powers,
privileges or remedies provided by Law. 
 ARTICLE XII 

INDEMNIFICATION 
 SECTION 12.01.
Funding Losses. If Borrower fails to borrow the Loans on either Closing Date after the applicable Notice of Borrowing has been given to the Lender in accordance herewith, Borrower shall reimburse the Lender within three Business Days after demand
for any resulting loss or expense incurred by the Lender including any loss incurred in obtaining, liquidating or redeploying deposits from third parties; provided that the Lender shall have delivered to Borrower a certificate showing the
calculation of such loss or expense in reasonable detail. 
 SECTION 12.02. Other Losses. 

(a) Borrower agrees to defend (subject to Indemnitees’ selection of counsel), indemnify, pay and hold harmless, each Indemnitee from and
against any and all Indemnified Liabilities, in all cases, or in any such case arising, in whole or in part, out of or relating to any claim, action, suit or proceeding commenced or threatened by any Person (including any Governmental Authority),
other than Borrower or any of the Lender’s Affiliates; provided Borrower shall not have any obligation to any Indemnitee hereunder with respect to any Indemnified Liabilities to the extent such Indemnified Liabilities arise from the
gross negligence or willful misconduct of such Indemnitee. To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in this Section 12.02 may be unenforceable in whole or in part because they are violative of
any law or public policy, Borrower shall contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of them. 

  
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 (b) To the extent permitted by applicable law, no Party shall assert, and each Party hereby
waives, any claim against each other Party and such Party’s Affiliates, directors, employees, attorneys or agents, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
(whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of, or in any way related to, this Agreement or any Loan Document or any agreement or
instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated hereby or thereby, the Loans or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and each
Party hereby waives, releases and agrees not to sue upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. 

SECTION 12.03. Assumption of Defense; Settlements. If the Lender is entitled to indemnification under this Article XII with respect to any
action or proceeding brought by a third party that is also brought against Borrower, Borrower shall be entitled to assume the defense of any such action or proceeding with counsel reasonably satisfactory to the Lender. Upon assumption by Borrower of
the defense of any such action or proceeding, Borrower shall have the right to participate in such action or proceeding and to retain its own counsel but Borrower shall not be liable for any legal expenses of other counsel subsequently incurred by
the Lender in connection with the defense thereof unless (i) Borrower has otherwise agreed to pay such fees and expenses, (ii) Borrower shall have failed to employ counsel reasonably satisfactory to the Lender in a timely manner or
(iii) the Lender shall have been advised by counsel that there are actual or potential conflicting interests between Borrower and the Lender, including situations in which there are one or more legal defenses available to the Lender that are
different from or additional to those available to Borrower; provided, however, that Borrower shall not, in connection with any one such action or proceeding or separate but substantially similar actions or proceedings arising out of
the same general allegations, be liable for the fees and expenses of more than one separate firm of attorneys at any time for the Lender, except to the extent that local counsel, in addition to its regular counsel, is required in order to
effectively defend against such action or proceeding. Borrower shall not consent to the terms of any compromise or settlement of any action defended by Borrower in accordance with the foregoing without the prior written consent of the Lender unless
such compromise or settlement (x) includes an unconditional release of the Lender from all liability arising out of such action and (y) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on
behalf of the Lender. Borrower shall not be required to indemnify the Lender for any amount paid or payable by the Lender in the settlement of any action, proceeding or investigation without the written consent of Borrower, which consent shall not
be unreasonably withheld. 
 ARTICLE XIII 

MISCELLANEOUS 
 SECTION 13.01.
Assignments. 
 (a) Borrower shall not be permitted to assign this Agreement without the prior written consent of the Lender and any
purported assignment in violation of this Section 13.01 shall be null and void. 

  
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 (b) Lender may at any time, upon written notice to Borrower, assign its rights and obligations
hereunder, in whole or in part, to an Assignee and may pledge its rights and obligations hereunder to such Assignee. 
 (c) The parties to
each permitted assignment shall execute and deliver to Borrower an Assignment and Acceptance. Upon the effectiveness of a permitted assignment hereunder, (i) each reference in this Agreement to “Lender” shall be deemed to be a
reference to the assignor and the assignee to the extent of their respective interests, (ii) such assignee shall be a Lender party to this Agreement and shall have all the rights and obligations of a Lender and (iii) the assignor shall be
released from its obligations hereunder to a corresponding extent of the assignment, and no further consent or action by any party shall be required. 

(d) In the event there are multiple Lenders, all payments of principal, interest, fees and any other amounts payable pursuant to the Loan
Documents shall be allocated on a pro rata basis among the Lenders according to their proportionate interests in the applicable Loans. 
 (e)
Borrower shall, from time to time at the request of the Lender, execute and deliver any documents that are necessary to give full force and effect to an assignment permitted hereunder, including new Note in exchange for the Note held by the Lender.

 SECTION 13.02. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and permitted assigns. 
 SECTION 13.03. Notices. All Notices authorized or required to be given pursuant to this Agreement shall
be given in writing and either personally delivered to the Party to whom it is given or delivered by an established delivery service by which receipts are given or mailed by registered or certified mail, postage prepaid, or sent by facsimile or
electronic mail with a copy sent on the following Business Day by one of the other methods of giving notice described herein, addressed to the Party at its address listed below: 

 

	 	(a)	If to Borrower: 

 Invuity, Inc. 

39 Stillman Street 
 San
Francisco, CA 94107 
 Attention: 

Facsimile: 
 E-mail: 

with a copy (which shall not constitute notice) to: 

Invuity, Inc. 
 39 Stillman
Street 
 San Francisco, CA 94107 

Attention: 
 Facsimile: 

E-mail: 

  
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 in each case with a copy (which shall not constitute notice) to: 

Wilson Sonsini Goodrich & Rosati 

650 Page Mill Road 
 Palo Alto,
CA 94304-1050 
 Attention: Scott K. Murano 

Facsimile: (650) 493-6811 

E-mail: (650) 849-3316 
  

	 	(b)	If to a Lender: 

 HealthCare Royalty Partners II, L.P. 

300 Atlantic Street, Suite 600 

Stamford, CT 06901 
 Attention:
Gregory B. Brown, M.D. 
 Email: greg.brown@hcroyalty.com 

with a copy (which shall not constitute notice) to: 

HealthCare Royalty Partners II, L.P. 

300 Atlantic Street, Suite 600 

Stamford, CT 06901 
 Attention:
Vice President – Legal 
 Email: Royalty@hcroyalty.com 

and 
 Ropes & Gray LLP

 800 Boylston Street 

Prudential Tower 
 Boston, MA
02199 
 Attn: Patrick O’Brien 

E-mail: patrick.obrien@ropesgray.com 

Any Party may change its address for the receipt of Notices at any time by giving Notice thereof to the other Parties. Except as otherwise
provided herein, any Notice authorized or required to be given by this Agreement shall be effective when received. 
 SECTION 13.04. Entire
Agreement. This Agreement and the other Loan Documents contain the entire agreement between the Parties relating to the subject matter hereof and supersede all oral statements and prior writings with respect thereto. 

SECTION 13.05. Modification. No Loan Document or provision thereof may be waived, amended or modified except, in the case of this Agreement,
by an agreement or agreements in writing executed by Borrower and the Lender or, in the case of any other Loan Document, by an agreement or agreements in writing entered into by the parties thereto with the consent of the Lender. 

  
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 SECTION 13.06. No Delay; Waivers; etc. No delay on the part of the Lender in exercising any power
or right hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any power or right hereunder preclude other or further exercise thereof or the exercise of any other power or right. The Lender shall not be deemed to
have waived any rights hereunder unless such waiver shall be in writing and signed by the Lender. 
 SECTION 13.07. Severability. If any
provision of this Agreement shall be held to be invalid, illegal or unenforceable, then, to the fullest extent permitted by law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby. 
 SECTION 13.08. Determinations. Each determination or calculation by the Lender hereunder shall, in the absence of manifest
error, be conclusive and binding on the Parties. 
 SECTION 13.09. Replacement of Note. Upon the loss, theft, destruction, or mutilation of
any Note and (a) in the case of loss, theft or destruction, upon receipt by Borrower of indemnity or security reasonably satisfactory to it (except that if the holder of such Note is the Lender or any other financial institution of recognized
responsibility, the holder’s own agreement of indemnity shall be deemed to be satisfactory) or (b) in the case of mutilation, upon surrender to Borrower of any mutilated Note, Borrower shall execute and deliver in lieu thereof a new Note,
dated the applicable Closing Date, in the same principal amount. 
 SECTION 13.10. Governing Law. THIS AGREEMENT AND THE NOTE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION). 

SECTION 13.11. Jurisdiction. Each Borrower and the Lender hereby irrevocably agrees that any legal action or proceeding with respect to this
Agreement shall exclusively be brought and determined in the federal courts located in New York City (Borough of Manhattan) or the courts of the State of New York located in New York City (Borough of Manhattan) and each of Borrower and the Lender
hereby irrevocably submits with regard to any such action or proceeding to the exclusive jurisdiction and proper venue of such courts. Any process or summons for purposes of any Proceeding may be served on Borrower by mailing a copy thereof by
registered mail, or a form of mail substantially equivalent thereto, addressed to it at its address as provided for Notices hereunder. 

SECTION 13.12. Waiver of Jury Trial. BORROWER HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT
OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION 13.13. Waiver of Immunity. To the extent that Borrower
has or hereafter may be entitled to claim or may acquire, for itself or any of its assets, any immunity from suit, jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in
aid of execution, or otherwise) with respect to itself or any of its property, Borrower hereby irrevocably waives such immunity in respect of its obligations hereunder and under the Note to the fullest extent permitted by law. 

  
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 SECTION 13.14. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 SECTION 13.15. Limitation on Rights
of Others. Except for the Indemnitees referred to in Section 12.02, no Person other than a Party shall have any legal or equitable right, remedy or claim under or in respect of this Agreement. 

SECTION 13.16. No Partnership. Nothing in this Agreement or any other Transaction Document shall be read to create any agency, partnership or
joint venture of the Lender (or any of its Affiliates) and Borrower (or any of its Affiliates). Each Party agrees not to refer to the other as a “partner” or the relationship as “partnership” or “joint venture.” 

SECTION 13.17. Survival. The obligations of Borrower contained in Section 4.05, Article V and Article XII shall survive the repayment of
the Loans and the cancellation of the Note and the termination of the other obligations of Borrower hereunder. 
 SECTION 13.18.
Confidentiality. 
 (a) Except as expressly authorized in this Agreement or the other Loan Documents or except with the prior written consent
of the Disclosing Party, the Receiving Party hereby agrees that (i) it will use the Confidential Information of the Disclosing Party solely for the purpose of the transactions contemplated by this Agreement and the other Loan Documents and
exercising its rights and remedies and performing its obligations hereunder and thereunder; (ii) it will keep confidential the Confidential Information of the Disclosing Party; and (iii) it will not furnish or disclose to any Person any
Confidential Information of the Disclosing Party. 
 (b) Notwithstanding anything to the contrary set forth in this Agreement or any other
Loan Document, the Receiving Party may, without the consent of the Disclosing Party, but with prior written notice when permissible to the Disclosing Party, furnish or disclose Confidential Information of the Disclosing Party to (i) the
Receiving Party’s Affiliates and their respective Representatives, actual or potential financing sources, investors or co-investors and permitted assignees, purchasers, transferees or successors-in-interest under Section 13.01, in each
such case, who need to know such information in order to provide or evaluate the provision of financing to the Receiving Party or any of its Affiliates or to assist the Receiving Party in evaluating the transactions contemplated by this Agreement
and the other Loan Documents or in exercising its rights and remedies and performing its obligations hereunder and thereunder and who are, prior to such furnishing or disclosure, informed of the confidentiality and non-use obligations contained in
this Section 13.18 and who are bound by written or professional confidentiality and non-use obligations no less stringent than those contained in this Section 13.18; and (ii) permitted assignees, purchasers, transferees or
successors-in-interest under Section 13.01, in each such case, who need to know such information in connection with such actual or potential 

  
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assignment, sale or transfer, including, following any such assignment, sale or transfer, in order to exercise their rights and remedies and perform their obligations under this Agreement and the
other Loan Documents and who are, prior to such furnishing or disclosure, informed of the confidentiality and non-use obligations contained in this Section 13.18 and who are bound by written or professional confidentiality and non-use
obligations no less stringent than those contained in this Section 13.18. 
 (c) In the event that the Receiving Party, its Affiliates
or any of their respective Representatives is required by applicable Law, applicable stock exchange requirements or legal or judicial process (including by deposition, interrogatory, request for documents, subpoena, civil investigative demand or
similar process) to furnish or disclose any portion of the Confidential Information of the Disclosing Party, the Receiving Party shall, to the extent legally permitted, provide the Disclosing Party, as promptly as practicable, with written notice of
the existence of, and terms and circumstances relating to, such requirement, so that the Disclosing Party may seek, at its expense, a protective order or other appropriate remedy (and, if the Disclosing Party seeks such an order, the Receiving
Party, such Affiliates or such Representatives, as the case may be, shall provide, at their expense, such cooperation as such Disclosing Party shall reasonably require). Subject to the foregoing, the Receiving Party, such Affiliates or such
Representatives, as the case may be, may disclose that portion (and only that portion) of the Confidential Information of the Disclosing Party that is legally required to be disclosed; provided, however, that the
Receiving Party, such Affiliates or such Representatives, as the case may be, shall exercise reasonable efforts (at their expense) to preserve the confidentiality of the Confidential Information of the Disclosing Party, including by obtaining
reliable assurance that confidential treatment will be accorded any such Confidential Information disclosed. Notwithstanding anything to the contrary contained in this Agreement or any of the other Loan Documents, in the event that the Receiving
Party or any of its Affiliates receives a request from an authorized representative of a U.S. or foreign tax authority for a copy of this Agreement or any of the other Loan Documents, the Receiving Party or such Affiliate, as the case may be, may
provide a copy hereof or thereof to such tax authority representative without advance notice to, or the consent of, the Disclosing Party; provided, however, that the Receiving Party shall, to the extent legally permitted, provide the
Disclosing Party with written notice of such disclosure as soon as practicable. 
 (d) Notwithstanding anything to the contrary contained in
this Agreement or any of the other Loan Documents, the Receiving Party may disclose the Confidential Information of the Disclosing Party, including this Agreement, the other Loan Documents and the terms and conditions hereof and thereof, to the
extent necessary in connection with the enforcement of its rights and remedies hereunder or thereunder or as required to perfect the Receiving Party’s rights hereunder or thereunder. 

(e) Neither Party shall, and each Party shall cause its Affiliates not to, without the prior written consent of the other Party (which consent
shall not be unreasonably withheld or delayed), issue any press release or make any other public disclosure with respect to the transactions contemplated by this Agreement or any other Transaction Document, except if and to the extent that any such
release or disclosure is required by applicable Law, by the rules and regulations of any applicable stock exchange or by any Governmental Authority of competent jurisdiction, in which case, the Party proposing (or whose Affiliate proposes) to issue
such press release or make such public disclosure shall use commercially reasonable efforts to consult in good faith with the other Party regarding the form and content thereof before issuing such press release or making such public announcement.

  
 -60- 

 Except with respect to the Lender’s internal communications or private communications with
its Representatives, the Lender shall not, and shall cause its Representatives, its Affiliates and its Affiliates’ Representatives not to make use of the name, nickname, trademark, logo, service mark, trade dress or other name, term, mark or
symbol identifying or associated with Borrower without Borrower’s prior written consent to the specific use in question, provided that the consent of Borrower shall not be required with respect to publication of Borrower’s name and
logos in the Lender’s promotional materials, including without limitation the websites for the Lender and its Affiliates consistent with its use of other similarly situated Third Parties’ names and logos. 

(f) Each of Borrower and Lender hereby (i) agree that, notwithstanding the terms thereof, the Confidentiality Agreement is hereby
terminated and (ii) acknowledge that this Agreement shall supersede such Confidentiality Agreement with respect to the treatment of Confidential Information by the Parties (including, without limitation, with regard to Confidential Information
previously provided pursuant to such Confidentiality Agreement). 
 SECTION 13.19. Patriot Act Notification. Lender hereby notifies Borrower
that, consistent with the Patriot Act, regulations promulgated thereunder and under other applicable Law, the Lender’s procedures and customer due diligence standards require it to obtain, verify and record information that identifies Borrower,
including among other things name, address, information regarding Persons with authority or control over Borrower, and other information regarding Borrower, its operations and transactions with the Lender. Borrower agrees to provide such information
and take such actions as are reasonably requested by the Lender in order to assist the Lender in maintaining compliance with its procedures, the Patriot Act and any other applicable Laws. 

  
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 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the day and year first
above written. 
  

					
	 HEALTHCARE ROYALTY PARTNERS II, L.P,

    as Lender

		
	By:		HealthCare Royalty Partners II GP, LLC,
			its General Partner
		
	By:		 /s/ Gregory B. Brown

			Name:		Gregory B. Brown
			Title:		Founding Managing Director

  

					
	INVUITY, INC.,
	    as Borrower
		
	By:		 /s/ Philip Sawyer

			Name:		Philip Sawyer
			Title:		Chief Executive Officer

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