Document:

EX-10.19

 Exhibit 10.19 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED. 
 SUPPLY AGREEMENT 

This SUPPLY AGREEMENT (“Supply Agreement”) is made as of May 29, 2018 (the “Effective Date”) by
and between SutroVax, Inc., a Delaware corporation having principal offices at 353 Hatch Dr., Foster City, CA 94404 (“SutroVax”) and Sutro Biopharma, Inc., a Delaware corporation, having principal offices at 310 Utah Ave, Suite 150,
South San Francisco, CA, 94080 (“Sutro”). SutroVax and Sutro may be referred to herein by name or individually, as a “Party” and collectively, as the “Parties.” 

BACKGROUND 
 A. Sutro
controls certain proprietary technology which permits cell-free expression of proteins, and Sutro licensed such technology to SutroVax under that certain Amended and Restated SutroVax Agreement dated as of October 12, 2015 (the “License
Agreement”). 
 B. SutroVax is a vaccine company primarily in the business of developing, manufacturing and marketing vaccine
products; and 
 C. SutroVax desires to purchase from Sutro, and Sutro desires to supply to SutroVax, the Extracts and Custom Reagents (as
defined below) upon the terms and subject to the conditions set forth herein. 
 NOW, THEREFORE, in consideration of the covenants,
conditions and undertakings hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

AGREEMENT 
 ARTICLE 1

 DEFINITIONS/ INTERPRETATION 

For the purposes of this Supply Agreement, the following capitalized words and phrases shall have the following meanings: 

1.1 “Affiliate” means, with respect to either Party, any business entity controlling, controlled by, or under common
control with such Party. For the purpose of this definition only, “control” means (i) the possession, directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of
voting securities, by contract or otherwise, or (ii) the ownership, directly or indirectly, of at least fifty percent (50%) of the voting securities or other ownership interest of a business entity. Notwithstanding the above, in no event shall
Sutro (or any entity that would be an Affiliate of SutroVax solely because it is an Affiliate of Sutro) be deemed an Affiliate of SutroVax, or SutroVax (or any entity that would be an Affiliate of Sutro solely because it is an Affiliate of SutroVax)
an Affiliate of Sutro. 

 1.2 “Applicable Law” means all laws, ordinances, rules, rulings,
directives and regulations of any Governmental Authority that apply to the development, manufacture or supply of any Product or the other activities contemplated under this Supply Agreement, including (i) all applicable federal, state and local
laws, rules and regulations; (ii) the U.S. Federal Food, Drug and Cosmetic Act; (iii) regulations and guidelines of the FDA and other Regulatory Authorities, including cGMPs, if applicable; and (iv) any applicable non-U.S. equivalents of any of the foregoing, including guidelines of the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (as amended from time
to time). 
 1.3 “cGMPs” means current good manufacturing practices and standards as set forth (and as amended from
time to time) in the current Good Manufacturing Practice Regulations of the U.S. Code of Federal Regulations, including 21 C.F.R. Sections 210 and 211, the European Community Directive 2003/94/EC and the ICH Harmonised Tripartite Guideline, Good
Manufacturing Practice Guides for Active Pharmaceutical Ingredients (Q7). 
 1.4 “Components” means any product or
material used in the Manufacture of the Products including the packaging materials. 
 1.5 “Extract” means
Sutro’s extract derived from strains of E. coli identified on Schedule 1 attached hereto, as may be amended from time to time in accordance with Section 12.7, and any new versions and improvements thereof that may be included
in Schedule 1 by written agreement of the Parties in accordance with Section 12.7. 
 1.6 “Facility” or
“Facilities” means the facilities where Product will be Manufactured as set forth in Schedule 1. Schedule 1 may be amended from time to time in accordance with this Supply Agreement to add or remove facilities. 

1.7 “FDA” means the United States Food and Drug Administration, or any successor agency thereto performing similar
functions. 
 1.8 “Fully Burdened Manufacturing Costs” means, with respect to a Product, Sutro’s costs of
manufacturing such Product, which manufacturing costs shall mean: (a) [***], and (b) [***], in each case to the extent directly allocated to and incurred in the manufacture by Sutro of such Product supplied to SutroVax, its Affiliates and
Sublicensees. Fully Burdened Manufacturing Costs shall not include any [***] and shall be calculated in accordance with the foregoing, GAAP and Sutro’s policies and procedures for its other products, in each case consistently applied (and such
plant operations and support services costs shall be allocated consistent with GAAP and other products of Sutro in that facility). 
 1.9
“Governmental Authority” means any court, agency, department, authority or other instrumentality of any nation, state, country, city or other political subdivision, including any Regulatory Authority. 

 1.10 “Manufacture” or “Manufacturing” means the
processes and procedures for the supply of the Products, including, (a) the supply and quality control of the Components; (b) the manufacture of the Products in bulk; (c) the Packaging and labeling of the Products; (d) the
quality control of the Products; and (e) the storage of the Products until shipment. 
 1.11 “Package” or
“Packaging” means packaging Product(s) in accordance with applicable Specifications. 
 1.12
“Person” means an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government or political subdivision or an agency thereof. 

1.13 “Price” means the price to be paid by SutroVax for each Product as set forth on Schedule 1 of this Supply
Agreement and as may be modified from time to time in accordance with Section 3.2. 
 1.14
“Product(s)” means the Extract and Custom Reagents. 
 1.15 “Custom Reagents” means Sutro’s
custom reagents identified on Schedule 1 attached hereto, and any new versions and improvements thereof that may be included in Schedule 1 by written agreement of the Parties in accordance with Section 12.7.

 1.16 “Regulatory Approval” means, with respect to a product, all approvals, licenses, registrations or
authorizations necessary to market and sell such product in a particular jurisdiction in the Territory (including applicable approvals of labeling, price and reimbursement for such product in such jurisdiction). 

1.17 “Regulatory Authority” means any federal, national, multinational, state, provincial or local regulatory agency,
department, bureau or other governmental entity, including the FDA, with authority over the development, Manufacture or commercialization (including approval of Regulatory Approvals) of any Product(s) in any jurisdiction in the Territory. 

1.18 “Regulatory Materials” means regulatory applications, submissions, notifications, communications, correspondence,
registrations, Regulatory Approvals and/or other filings made to, received from or otherwise conducted with a Regulatory Authority (including minutes of meeting with Regulatory Authorities) that are necessary or reasonably desirable to access in
connection with the development, manufacture, marketing, sale or other commercialization of any Product in a particular country or regulatory jurisdiction. Regulatory Materials include, without limitation, INDs, NDAs, BLAs, clinical trial
applications, marketing approval applications and applications for pricing approvals. 
 1.19 “Required Standards”
means Applicable Law, the Specifications, and the warranties given by Sutro in Section 7.3, provided that Required Standards shall not include compliance with cGMPs for Custom Reagents, Extract identified as “research
grade” Extract or Other Extracts. 

 1.20 “Specifications” means, with respect to a Product or applicable
Component thereof, all written product, regulatory, Manufacturing, release criterion, quality control and quality assurance procedures, processes, practices, standards, instructions and specifications applicable to the Manufacture of such Product or
Component, as agreed to by the Parties in writing from time to time. The initial Specifications for the Products are attached hereto as Schedule 2. 

1.21 “SutroVax CMO” means any contract manufacturer responsible for supplying or manufacturing a Vaccine Composition on
behalf of SutroVax or its Affiliates, selected in accordance with Section .2. 
 1.22 “Territory” means worldwide.

 1.23 “Third Party” means any Person other than SutroVax, Sutro, or their respective Affiliates. 

1.24 Additional Definitions. Each of the following terms shall have the meaning described in the corresponding Section of this Supply
Agreement indicated below: 

 

					
	Term	  	Section Defined	 
	Alternate Supplier	  	 	2.15	 
	Acceptance Period	  	 	4.2	 
	COA/COC	  	 	4.1	 
	CMC	  	 	6.2	 
	CMO	  	 	2.15	 
	Delivery Time Period	  	 	2.9.2	 
	Disputed Matter	  	 	11.4	 
	Drug Master File	  	 	6.2	 
	Effective Date	  	 	Preamble	 
	Force Majeure	  	 	12.3	 
	Forecast	  	 	2.3	 
	Indemnify	  	 	9.1.1	 
	Laboratory	  	 	4.3	 
	Latent Defect	  	 	4.2	 
	Liabilities	  	 	9.1.1	 
	License Agreement	  	 	Background	 
	Manufacturing Change	  	 	6.6	 
	MSDS	  	 	4.1	 
	Other Extract	  	 	2.16	 
	Party or Parties	  	 	Preamble	 

					
	Term	  	Section Defined	 
	Phase 3/Commercial Supply Agreement	  	 	2.14	 
	Q1, Q2 or Q3	  	 	2.3	 
	Quality Agreement	  	 	6.7	 
	Senior Management	  	 	11.2	 
	Short Dated Product	  	 	2.11	 
	Sutro	  	 	Preamble	 
	Sutro Activity Criteria	  	 	4.1	 
	Sutro Activity Test	  	 	4.1	 
	Sutro Indemnitees	  	 	9.1.2	 
	SutroVax	  	 	Preamble	 
	SutroVax Activity Criteria	  	 	4.1	 
	SutroVax Activity Test	  	 	4.1	 
	SutroVax Indemnitees	  	 	9.1.1	 
	Supply Agreement	  	 	Preamble	 
	Term	  	 	10.1	 
	Third-Party Claim	  	 	9.1.1	 
	Transfer Addendum	  	 	2.15	 
	Work Order	  	 	2.3	 

 
 

  
 1.25
Interpretation. The captions and headings to this Supply Agreement are for convenience only, and are to be of no force or effect in construing or interpreting any of the provisions of this Supply Agreement. Unless specified to the contrary,
references to Articles, Sections, Schedules or Exhibits mean the particular Articles, Sections, Schedules or Exhibits to this Supply Agreement and references to this Supply Agreement include all Schedules and Exhibits hereto. Unless context clearly
requires otherwise, whenever used in this Supply Agreement: (i) the words “include” or “including” shall be construed as incorporating, also, “but not limited to” or “without limitation;” (ii) the word
“or” shall have its inclusive meaning of “and/or;” (iii) the word “notice” shall require notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and other written
communications contemplated under this Supply Agreement; (iv) the words “hereof,” “herein,” “hereunder,” “hereby” and derivative or similar words refer to this Supply Agreement (including any Schedules
and 

 
Exhibits); (v) provisions that require that a Party or the Parties “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval
be specific and in writing; (vi) words of any gender include the other gender; (vii) words using the singular or plural number also include the plural or singular number, respectively; (viii) references to any specific law, or
article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement thereof; (ix) neither Party shall be deemed to be acting “under the authority” of the other Party; and
(x) any capitalized terms used and not defined in this Supply Agreement shall have the meaning set forth in the License Agreement. 

ARTICLE 2 
 SUPPLY

 2.1 Supply. Pursuant to the terms and conditions of this Supply Agreement, Sutro agrees that it will Manufacture the
Product(s) at the Facility(ies) for SutroVax and shall supply the Product(s) to SutroVax, its Affiliates, and any SutroVax CMO, for purposes of production of Vaccine Compositions (including development of processes for the production of Vaccine
Compositions), solely for non-clinical research purposes or in Phase I or Phase II clinical trials of such Vaccine Compositions.. 

2.2 Transfer of Product. Subject to Section 2.1, SutroVax may transfer Products to SutroVax CMOs selected by SutroVax and that are
reasonably acceptable to Sutro (the acceptance of which by Sutro not to be unreasonably withheld, conditioned or delayed) or previously approved by Sutro. 

2.3 Work Orders. From time to time, Sutro and SutroVax may execute one or more work orders, that describe the Product to be
Manufactured, the quantities of each Product to be Manufactured and supplied to SutroVax, the Price to be charged by Sutro (which shall be as set forth in Section 3.2) and paid by SutroVax for the Product, and the delivery date(s) for such
Product, (as executed, a “Work Order”). Each Work Order will expressly refer to this Supply Agreement, will form a part of this Supply Agreement, and will be subject to the terms and conditions contained herein. Sutro shall not
unreasonably withhold its agreement to any proposed Work Order requested by SutroVax. Sutro shall be obligated to execute proposed Work Orders requested by SutroVax (except with respect to Other Extracts) with respect to quantities in such proposed
Work Order for delivery at least [***] months after SutroVax’s request to the extent such quantities of Product (when added to the quantities of such Product in Work Orders previously agreed between the Parties for delivery within the one
(1) calendar year period prior to the requested delivery date of the proposed Work Order) are less than (a) [***] liters with respect to Extract or (b) a corresponding amount of each Custom Reagent to support use of [***] liters of
Extract. Sutro shall notify SutroVax as soon as possible if Sutro believes it will be unable to deliver Product in accordance with the applicable Work Order. Sutro’s providing of such notification shall not be interpreted in any manner as
relieving Sutro of its obligations under this Supply Agreement, nor shall it prevent SutroVax from pursuing any and all rights and remedies SutroVax may have based on Sutro’s failure to be able to deliver any Product in accordance with the
terms of this Supply Agreement. 

 2.4 Orders. 

2.4.1 Purchase Orders. Once both parties have executed a Work Order, SutroVax shall place a purchase order for the amounts of Products
to be purchased under such Work Order with delivery dates for such amounts consistent with such Work Order. Additionally, SutroVax may from time to time place purchase orders for additional quantities specifying requested delivery dates in
accordance with reasonable delivery schedules and lead times; in each case, as may be agreed upon from time to time by the Parties. Each purchase order placed by SutroVax shall specify the quantity of Product, destination(s) and requested delivery
dates. Sutro shall promptly accept all purchase orders with respect to the amounts of Products to be purchased under the applicable Work Order and shall accept or reject any amount in the purchase order in excess of the amounts of Products to be
purchased under the applicable Work Order and all other purchase orders for Product submitted by SutroVax in accordance with this Article 2 within [***] days from receipt of the order; provided however that Sutro shall use Commercially
Reasonable Efforts to accept such amounts and purchase orders. Accepted purchase orders may not be cancelled without the prior written agreement of both Parties except as set forth in Sections 2.5. Unless otherwise directed by SutroVax, Sutro
shall fill all accepted purchase orders for Product in accordance with the requested due dates as set forth in further detail in Section 2.9.2. 

2.4.2 No Conflicting Terms. The terms and conditions of this Supply Agreement shall be controlling over any conflicting terms and
conditions stated in SutroVax’s purchase order or Sutro’s invoice, confirmation or other standardized document. Any purchase order, order acknowledgement, invoice, proposal or other document which conflicts with or adds to the terms and
conditions of this Supply Agreement with respect to the Manufacture and supply of Product for the Territory is hereby rejected, unless the Parties mutually agree to the contrary in writing. 

2.4.3 Initial Order. Notwithstanding Section 2.3 or this Section 2.4, Sutro accepts
and agrees to fulfil the order previously placed by or on behalf of SutroVax (or to be placed by or on behalf of SutroVax, if no already placed) for the quantities of Product set forth in Schedule 3 by the delivery date set forth therein (the
“Initial Order”). 
 2.5 Cancellation. Notwithstanding anything herein to the contrary, SutroVax may not modify or
cancel purchase orders with respect to the amounts of Product to be purchased under the applicable Work Order, however SutroVax may modify or cancel other purchase orders (including amounts in a purchase order in excess of the amounts of Product to
be purchased under the applicable Work Order) for the Products provided that such modification or change is made further in advance of the originally requested delivery date than the required lead time, where the agreed required lead time for the
applicable purchase order has been evidenced in writing (including, for example, by email) between the Parties. 
 2.6 Delivery and Risk
of Loss. Sutro shall mark Product for delivery to the destination(s) specified by SutroVax. All shipments of Product(s) shall be delivered [***] (lncoterms 2010) Sutro Facility. Title and risk of loss and damage to the Product(s) shall remain
with Sutro until the Product(s) are delivered in accordance with the foregoing, at which time title and risk ofloss and damage to the Product(s) shall pass to SutroVax. SutroVax will arrange for shipping from Sutro’s Facility to the destination
specified by SutroVax at SutroVax’s cost and expense. 

 2.7 Packaging. Sutro shall provide the Product to SutroVax in Packaged form in
accordance with the Required Standards. 
 2.8 Conformance to Required Standards. Sutro shall Manufacture the Product(s) in accordance
with the Required Standards, as the same may be amended or supplemented from time to time. Each Party shall keep the other promptly and fully advised of any new requirements of the applicable Regulatory Authority or Applicable Law of which it
becomes aware and Sutro shall promptly implement such requirements as described in Section 6.6. 
 2.9 Supply and Delivery. 

2.9.1 Shortage. Sutro shall use reasonable efforts to promptly notify SutroVax in writing in the event that Sutro is unable or
anticipates that it will be unable to supply compliant Product in accordance with the requirements of this Supply Agreement, including the Quality Agreement and all Required Standards, and each Work Order. Sutro shall use Commercially Reasonable
Efforts to overcome any inability or anticipated inability to so supply compliant Product to SutroVax. 
 2.9.2 Delivery Delays.
Subject to Section 2.4.1 (including applicable lead times agreed upon in accordance with Section 2.4.1) Sutro shall make deliveries of Product(s) in accordance with Section 2.6, no more than [***] days before or [***] after the
delivery dates specified by SutroVax in the relevant purchase order (provided that such delivery date is in accordance with the applicable Work Order or such purchase order was otherwise accepted by Sutro) (the “Delivery Time
Period”). For any failure to supply compliant Product(s) in the later of the Delivery Time Period and the period ending [***] after the delivery date specified under the Work Order, without limiting SutroVax’s other remedies, subject
to this Section 2.9.2 and Section 9.3 (Limitation of Liability), Sutro shall be liable for any non-cancelable Third Party penalties, costs and expenses incurred by SutroVax as a result of
Sutro’s failure to supply Product(s) as aforesaid, subject to receipt by Sutro of appropriate documentary evidence of such penalties, costs and expenses to the extent such evidence of such amounts may be provided by SutroVax without breaching
SutroVax’s or its Affiliates’ duties of confidentiality to such Third Party (and provided that SutroVax shall use commercially reasonable efforts to (i) minimize or eliminate such penalties, costs and expenses and (ii) where
provision of such evidence to Sutro would result in a breach of such duties of confidentiality, to obtain the consent of the applicable Third Party to the provision of such evidence to Sutro). In the event that Sutro makes a Manufacturing Change and
is not able to Manufacture and supply Product in conformance with the Required Standards within [***] days of the delivery date identified on the applicable purchase order, Sutro shall Manufacture such Product without such Manufacturing Change. The
rights of SutroVax set forth in this paragraph are in addition to any other rights set forth in this Supply Agreement. 
 2.10
Allocation. Without limiting any other rights or remedies available to SutroVax, if the demand for a Product in aggregate exceeds available supply or Sutro otherwise concludes that it may be unable to supply a Product in accordance with the
requirements of this Supply Agreement in the quantities and within the time periods specified in each Work Order and the corresponding purchase orders that have been accepted by Sutro, Sutro shall immediately notify SutroVax of such shortfall (or
anticipated shortfall), and shall use Commercially Reasonable 

 
Efforts to procure Components and capacity adequate to meet accepted purchase orders and supply compliant Product in accordance with the requirements of this Supply Agreement. Sutro shall
allocate its available Components and manufacturing capacity to provide SutroVax with quantities of such Product at least equal to the greater of (a) [***] of the amount of Product (or products equivalent to Product) that Sutro allocates for
itself and its Affiliates (but in no event less than [***] liters of Extract per month and the minimum allocation volume set out in Schedule 1 of each Custom Reagent per month), provided that SutroVax demonstrates actual need for the applicable
quantities of Extract, and (b) the [***]. Without limiting the foregoing, if there is a shortage of supply of Product, Sutro shall provide Product to SutroVax for any quantities of Product ordered by SutroVax in accordance with the applicable
Work Order or purchase order in priority to any subsequent Third Party purchase orders, but not in priority to any Third Party purchase orders or other binding commitment placed before placement of the applicable SutroVax Work Order or purchase
order. 
 2.11 Short Dated Product. Sutro agrees to ship all Product(s) so that they are delivered to SutroVax and will remain
compliant with the Specifications for at least [***] months from the date of delivery in accordance with this Supply Agreement. 
 2.12
Subcontracting by Sutro. Sutro shall (a) ensure that any subcontractor or delegatee of Sutro’s obligations under this Supply Agreement has and maintains all appropriate qualifications; (b) enter into a quality agreement with each
such subcontractor and delegatee which terms are similar to the terms of the Quality Agreement between SutroVax and Sutro; and (c) be responsible for each subcontractor’s and delegatee’s performance hereunder (including performance or
non-performance by such subcontractor or delegatee that would constitute a breach of this Supply Agreement or such quality agreement if conducted by Sutro) as if Sutro were itself performing such activities.
Sutro shall not subcontract the Manufacture of Product to a Third Party without SutroVax’s prior consent other than to an Alternate Supplier as expressly set forth in Section 2.15. 

2.13 CMOs. Notwithstanding anything to the contrary in this Supply Agreement, SutroVax shall have the rights to purchase Available
Extracts and Extracts from CMOs (as defined in the License Agreement) to the extent provided in section 3.1 of the License Agreement. 

2.14 Phase 3/Commercial Supply Agreement. If requested by SutroVax in writing (which request shall not be made prior to [***]), the
Parties shall negotiate in good faith reasonable terms and conditions of an agreement for the supply by Sutro of the Products for the production of Vaccine Compositions for use in phase 3 clinical studies and for commercial purposes (“Phase
3/Commercial Supply Agreement”). The price for the Products Manufactured by Sutro under the Phase 3/Commercial Supply Agreement shall not exceed [***] of the Fully Burdened Manufacturing Cost thereof. If the Parties have not entered into
the Phase 3/Commercial Supply Agreement within [***] after SutroVax’s request to negotiate the Phase 3/Commercial Supply Agreement, upon either Party’s request by written notice to the other Party the terms and conditions of the Phase
3/Commercial Supply Agreement shall be determined by binding arbitration in accordance with the procedures set forth in Section 11.4. Upon the selection of one draft Phase 3/Commercial Supply Agreement by the arbitrator pursuant to
Section 11.4, unless SutroVax elects not to enter into such Phase 3/Commercial Supply 

 
Agreement by written notice thereof to Sutro within [***] days after such selection, the Parties shall execute the definitive Phase 3/Commercial Supply Agreement selected by the arbitrator (but
excluding, for clarity, any provision granting to SutroVax or its Affiliates or Sublicensees any right to obtain or use any Sutro Core Know-How); and if SutroVax elects to not enter into the Phase 3/Commercial
Supply Agreement selected by the arbitrator by providing notice thereof within such [***] day period, then neither Party shall be obligated to enter into the Phase 3/Commercial Supply Agreement. 

2.15 Qualification of Alternate Supplier. 

2.15.1 Transfer Addendum. 

(a) Transfer Addendum. Upon SutroVax’ written request, the Parties agree to negotiate in good faith an addendum to this Supply
Agreement setting forth the terms and conditions pursuant to which Sutro will conduct a Process Transfer to a Third Party contract manufacturer (“CMO”) and/or engage such CMO to establish Capacity to Manufacture Extract (as Process
Transfer and Capacity are defined below), in each case for the Manufacture and supply of such Extract for SutroVax’ (or its Affiliate’s or SutroVax CMO’s) use to manufacture Vaccine Compositions, consistent with the remainder of this
Section 2.15 (such addendum, a “Transfer Addendum”). As requested by SutroVax, this procedure may also be used in the event that SutroVax wishes Sutro to conduct a Process Transfer to a Third Party CMO in order to establish
Capacity to Manufacture Custom Reagents. In connection with such request, SutroVax shall provide to Sutro a description of the desired Process Transfer and/or Capacity, including timing and other requirements thereof. Such Transfer Addendum shall:

 (i) include a plan and budget for the conduct of the Process Transfer and/or establishment of such Capacity, which shall include amounts
charged by the CMO (as defined further below, the “Alternate Supplier”) to receive and conduct such Process Transfer and/or establish such Capacity, as well as reasonable FTE costs for Sutro personnel performing and managing
technology transfer activities in accordance with the Transfer Addendum· 
 (ii) require SutroVax to fund the costs incurred by Sutro
to conduct Process Transfer and/or establish such Capacity in accordance with such budget; 
 (iii) provide for initiation and completion of
the Process Transfer and establishment of Capacity as requested by SutroVax, to the extent possible; 
 (iv) to the extent requested by
SutroVax, be designed to enable the Alternate Supplier to Manufacture Extract of suitable quality for use in Phase 3 clinical trials and commercialization of a Vaccine Composition at a capacity to support SutroVax’ projected commercial
requirements for Extract (or other capacity identified by SutroVax in connection with the negotiation of the Transfer Addendum), as requested by SutroVax; 

(v) require the Parties to fully cooperate to verify that the Extract supplied by the Alternate Supplier meets the Specifications, to validate
the Manufacturing process implemented at the Alternate Supplier and to qualify the Alternate Supplier, in each case to supply Extract for SutroVax’ use in Phase 3 clinical trials and commercialization of a Vaccine Composition (collectively,
with respect to Capacity established, “Validating” such Capacity); 

 (vi) include mechanisms for keeping SutroVax fully informed, at scheduled intervals not to
exceed once per quarter, of the progress of the Process Transfer and establishing such Capacity, as applicable, including with respect to the anticipated date for qualifying the Alternate Supplier and any changes to such anticipated date; 

(vii) provide a right for SutroVax to modify the timing of or terminate the Process Transfer, Capacity or specified aspects thereof on
reasonable notice, subject to SutroVax’ agreement to bear any resulting termination or cancellation fees charged by the Alternative Supplier; and 

(viii) include a mechanism for Sutro to cooperate with SutroVax and keep SutroVax reasonably informed with respect to Sutro’s negotiation
of an agreement with a potential Alternate Supplier for a Process Transfer and/or establishment of Capacity, including with respect to pricing for Extract from the Alternate Supplier to Sutro and any commitments to purchase quantities of Extract
from the Alternate Supplier that SutroVax would be obligated to assume (e.g., in connection with establishing Capacity), if any, and require Sutro to obtain SutroVax’ approval (not to be withheld unreasonably) of the terms of such agreement
prior to entering into such agreement to the extent that the terms apply to SutroVax (it being understood that Sutro may redact any terms that are not relevant to SutroVax). 

(b) Scope. As used above, “Process Transfer” means a technology transfer of Sutro’s
know-how and information as is necessary or useful for the Third Party CMO to Manufacture in its own facilities Extract that meets SutroVax’ requirements, including any such information and know-how as would be needed for such CMO to scale up such Manufacture to the requested commercial volumes. To establish “Capacity” means that the CMO would take such actions as are necessary
(including validation and if necessary adapting or reserving existing facilities, establishing new facilities and/or procuring necessary equipment) to Manufacture Extract meeting SutroVax’ requirements for Phase 3 and commercial supply in such
quantities as SutroVax designates. It is understood that SutroVax may request that the Process Transfer and establishment of Capacity be undertaken in separate steps, for example by undertaking an initial Process Transfer to demonstrate the
CMO’s ability to Manufacture Extract, and then later establishing Capacity for Phase 3 and commercial supply, as requested by SutroVax in accordance with Section 2.15.1(a) (i.e., in separate requests). 

(c) Selection of Alternate Supplier. The “Alternate Supplier” will be selected by Sutro, provided that Sutro must select an
“Alternate Supplier” that is substantially similar to those CMOs identified on Schedule 2.15.1 hereto and provided further that SutroVax shall have the right to veto such selection based only on a genuine and material conflict of interest
between SutroVax and the Alternate Supplier. Additional CMOs may be added to Schedule 2.15.1 by Sutro with SutroVax’s approval (not to be withheld unreasonably). 

 (d) Alternate Supplier as Subcontractor. It is understood that the Alternate
Supplier established under the Transfer Addendum shall operate as a subcontractor of Sutro under this Supply Agreement and the Phase 3/Commercial Supply Agreement, and as such SutroVax will order from Sutro thereunder any Extract to be Manufactured
by such Alternate Supplier. Subject to the foregoing, the Transfer Addendum and the Phase 3/Commercial Supply Agreement will include reasonable and customary rights for SutroVax to conduct audits/inspections, site visits, quarterly meetings, each
such audit/inspection, site visit and quarterly meeting to be coordinated by Sutro and to occur in the presence of a representative for Sutro and SutroVax, in connection with the Alternate Supplier’s manufacture of Extract for supply to
SutroVax. For clarity, SutroVax shall not conduct any business discussions for the supply of Extract with the Alternate Supplier in a manner that induces the Alternate Supplier to breach its agreement with Sutro. Notwithstanding the foregoing, in
the event Sutro undergoes a Change of Control or Sutro permits any third party to acquire Extract directly from an Alternate Supplier established under the Transfer Addendum, then SutroVax shall thereafter have the right to establish a supply
agreement with and obtain supply of Extract directly from such Alternate Supplier. 
 (e) Quotations. Upon SutroVax’s request
(which request, for clarity, may be before a request to negotiate a Transfer Addendum), Sutro shall seek quotations from one or more Third Party CMO(s) for such a Process Transfer and/or establishment of such Capacity, in each case as requested by
SutroVax, and the Parties shall reasonably cooperate to establish requests for quotations for such purposes. 
 (f) Arbitration. If
the Parties have not agreed upon a Transfer Addendum within [***] after SutroVax’ request, upon SutroVax’ request by written notice to Sutro, the terms and conditions of the Transfer Addendum shall be determined by binding arbitration in
accordance with the procedures set forth in Section 11.4. For clarity, however, it is understood that a Transfer Addendum shall not include any provision granting to SutroVax or its Affiliates or Sublicens.ee s any right to obtain or use any
Sutro Core Know-How. 
 2.15.2 Source of Supply. It is understood that after the Alternate
Supplier is qualified, SutroVax shall have the right under this Supply Agreement and the Phase 3/Commercial Supply Agreement to specify whether Extract ordered from Sutro pursuant to this Agreement or the Phase 3/Commercial Supply Agreement will be
Manufactured at Sutro’s Facility or at the Alternate Supplier’s facilities (and to the extent Extract from the Alternate Supplier is ordered under this Supply Agreement or the Phase 3/Commercial Supply Agreement, the facility of the
Alternate Supplier shall be deemed a Facility for purposes of this Supply Agreement and the Phase 3/Commercial Supply Agreement). Notwithstanding the foregoing, to the extent the FDA and EMA have confirmed that Extract manufactured at Sutro’s
Facility and the Alternate Supplier’s Facility are interchangeable and can be supplied from either such Facility without any additional regulatory requirements or regulatory delay with respect to the applicable Vaccine Composition, and such
Extract otherwise meets SutroVax’ requirements, then with SutroVax’ consent (not to be withheld unreasonably) Sutro may supply Extract from either Sutro’s Facility or the Alternate Supplier’s Facility. 

2.15.3 Price. To the extent Sutro or its Affiliate Manufactures Extract supplied to SutroVax, the Price (per unit volume or unit weight)
under this Supply Agreement and the Phase 3/Commercial Supply Agreement for such Extract shall not exceed [***] of the Fully Burdened Manufacturing Costs of such Extract; and to the extent the Extract to be supplied to SutroVax is Manufactured by a
Third Party (including the Alternate Supplier), the Price to be 

 
charged to SutroVax under this Supply Agreement and the Phase 3/Commercial Supply Agreement for such Extract shall equal the amount Sutro paid such Third Party for such Extract (“OOP
Cost”) plus an amount reasonably calculated to cover Sutro’s FTE costs to procure and manage the relationship with such Third Party, such amount not to exceed [***] of the OOP Cost for such Extract. To the extent that Sutro or its
Affiliate receives any portion of the amounts paid to such Third Party to Manufacture Extract (e.g., as a profit share or otherwise), the Price to be charged SutroVax shall be the lesser of i) [***], or ii) [***]; in either case, [***]. For clarity,
Section 3.4 of the License Agreement shall apply with respect to the Alternate Supplier. 
 2.15.4 Sutro/Third Party use of Alternate
Supplier. Once the Alternate Supplier is qualified pursuant to this Section 2.15, SutroVax shall have the first right (as between SutroVax and Sutro or Third Parties supplied or authorized by Sutro) to obtain Extract Manufactured by the
Alternate Supplier up to the Capacity established pursuant to the Transfer Addendum for a period ending the later of [***] or [***], and provided SutroVax commits to [***] or [***]. 

2.16 Other Extracts. From time-to-time, subject to an
agreed-upon Work Order, SutroVax may place purchase orders for quantities of research grade extract derived from strains of E. Coli other than that set forth on Schedule 1 attached hereto (each an “Other Extract”). Sutro
shall use Commercially Reasonable Efforts to accept such purchase orders (and shall accept such purchase orders placed consistent with an agreed-upon Work Order) and manufacture and supply to SutroVax such Other Extracts. For the purpose of
calculating the Price for Other Extracts in accordance with this Section, the Price will be the cost of materials and Sutro’s labor at an FTE rate of [***] per year for Sutro laboratory scientists. Upon Sutro’s acceptance of a purchase
order for Other Extract, such Other Extract in such purchase order shall be deemed Extract for purposes of Sections 2.1, 2.2, 2.3, 2.4.1 (solely with respect to the last two sentences thereof), 2.5, 2.6, 2.7, 2.8, 2.9.1 , 3.1, 4, 5, 6, 7 and 9. 

2.17 Manufacture of Custom Reagents. For clarity, SutroVax may Manufacture Custom Reagents itself or obtain supply thereof through a
Third Party independent of this Supply Agreement and nothing in this Supply Agreement is intended to restrict SutroVax from doing so. Upon SutroVax’s request, and subject to the remainder of the terms of this Section 2.17, Sutro shall
(a) transfer to SutroVax or a contract manufacturer designated by SutroVax (which contract manufacturer is reasonably acceptable to Sutro, the approval of which shall not be unreasonably withheld, conditions or delayed by Sutro) as soon as
reasonably practicable the process to Manufacture each Custom Reagent and the items of Sutro Know-How reasonably necessary for SutroVax or its designee to Manufacture each Custom Reagent, including cell lines,
standard operating procedures, protocols, batch records, analytical method standard operating procedures and analytical method transfer protocols and (b) make Sutro Personnel reasonably available to SutroVax or its designee for scientific and
technical explanations and on-site support that may reasonably be requested by SutroVax or its designee to Manufacture the Custom Reagents; provided however, that SutroVax shall fully reimburse Sutro for all
documented time spent by Sutro’s personnel to perform such transfer (on an FTE basis, each such FTE charged at an annual rate of [***]) and out-of-pocket costs
incurred by Sutro in connection with all of the activities under the preceding sub-clauses (a) and (b), in accordance with a budget reasonably approved in advance by SutroVax. Upon such SutroVax request,
Sutro and SutroVax shall, within [***] days, agree on a scope of work for such transfer, including 

 
scale, timeline, estimated budget, and required materials; both parties shall use reasonable efforts to complete the transfer as soon as reasonably practical. If requested by SutroVax (including
if such request is prior to agreement on a scope of work), Sutro shall promptly transfer to SutroVax or its designee the cell lines, manufacturing instructions and analytical methods used for Manufacture of each Custom Reagent. For clarity, SutroVax
shall have the right to enter into an agreement directly with such designee for the Manufacture and supply of Custom Reagents directly to SutroVax, its Affiliates, and any SutroVax CMO and, upon SutroVax’s request, to the extent necessary,
Sutro shall authorize such designee to enter into such agreement with SutroVax and perform such activities. For further clarity, Sutro shall not be responsible for any damages resulting from delay or failure in establishing the processes for
Manufacture of Custom Reagents at SutroVax’s designee resulting from action or inaction on the part of the designee or to the extent beyond Sutro’s control. SutroVax shall have the right to obtain from such designee such items of Sutro
Know-How transferred to such designee and use such items in connection with the exercise of its rights pursuant to the License Agreement, including for the Manufacture of Custom Reagents and the management of such designee. SutroVax shall use such
Sutro Know-How transferred under this Section 2.17 (to the extent it is Discloser’s Information of Sutro and does not meet one or more the criteria in clause (a) through (e) of Section 10.1
of the License Agreement) only for the Manufacture of Custom Reagents or otherwise within the scope of rights and licenses granted SutroVax in the License Agreement. In case of such a transfer to SutroVax or its designee, SutroVax will share with
Sutro (i) the proposed process for manufacture of Custom Reagents through a Third Party so that Sutro may provide feedback and ensure that the process and Specifications are consistent with Sutro’s process, and (ii) all regulatory
submissions (including DMFs with respect to Custom Reagents) at least [***] days in advance of their intended date of submission to a Regulatory Authority in the Territory, and shall take into account Sutro’s feedback to ensure alignment with
Sutro’s regulatory submissions and Regulatory Approvals with respect to Custom Reagents. Following completion of the transfer set forth above, Sutro shall provide reasonable support for the use of Third Party Custom Reagents in conjunction with
Extract supplied by or on behalf of Sutro. In addition, Extract supplied by Sutro that conforms to the Required Standards when tested with Custom Reagents supplied by Sutro but not with Custom Reagents manufactured under this Section shall be deemed
to conform to the Required Standards and SutroVax may not reject such Extract as a result of such non-conformance to the Required Standards when tested with Custom Reagents. SutroVax shall not prevent Sutro
from separately contracting with the contract manufacturer for Manufacture of Custom Reagents for use on its own behalf or on behalf of other third parties. 

2.18 Sutro Core Know-How. Notwithstanding anything to the contrary, except as set forth in
Section 15.3 of the License Agreement, in no event shall SutroVax, its Affiliates or Sublicensees have the right to access any Sutro Core Know-How (as defined in the License Agreement), whether directly
from Sutro or its Affiliates or through a CMO or otherwise, and SutroVax, its Affiliates and Sublicensees shall not require, request or solicit any CMO to deliver any Sutro Core Know-How to SutroVax, its
Affiliates and/or its Sublicensees, and no agreement between any CMO and Sutro, its Affiliates and Subsidiaries shall contain any provision granting to SutroVax or its Affiliates or Sublicensees any right to obtain or use any Sutro Core Know-How.
Without limiting the foregoing, in the event any item of Sutro Core Know-How is delivered to SutroVax, its Affiliates and/or its Sublicensees (except as set forth in Section 15.3 of the License
Agreement), SutroVax, its Affiliates and Sublicensees shall immediately return such item to Sutro. Notwithstanding the foregoing, to the extent SutroVax or any of its Affiliates 

 
or Sublicensees is required by a Regulatory Authority (or Applicable Law) in the United States, Europe or Japan to confidentially disclose, as part of the applicable regulatory filings with
respect to a Vaccine Composition, any Sutro Core Know-How (for clarity, excluding any tangible embodiments of such Sutro Core Know-How other than information and
documentation), Sutro shall, upon SutroVax’s written request, confidentially disclose such Sutro Core Know-How as part of the applicable regulatory filings, subject to the payment obligations set forth in
Section 5.4 of the License Agreement. 
 2.19 Express Rights. Except as expressly set forth in this Supply Agreement, no rights
or licenses are granted to SutroVax under this Supply Agreement. 
 2.20 Extract Requirements. SutroVax agrees to purchase all its
requirements of Extract from Sutro in accordance with this Agreement, except to the extent SutroVax is allowed to purchase Extract from (a) Alternate Suppliers engaged by Sutro in accordance with Section 2.15 of this Agreement; (b) a
CMO engaged or established and authorized by Sutro under Section 3.l(d) of the License Agreement; or (c) a CMO authorized by Sutro under Section 3.l(e) of the License Agreement. Manufacturing of Extracts in breach of this
Section 2.20 shall be deemed a material breach of this Agreement and the License Agreement by SutroVax. 
 ARTICLE 3 

PRICING AND PAYMENT 

3.1 Invoices. Sutro shall invoice SutroVax at the time of each shipment of Product(s) for the Price for such shipment. SutroVax will
pay such invoices within [***] days of receipt of invoice (including all required documentation) by SutroVax. 
 3.2 Prices. The
Prices for the Products shall not exceed [***] of the Fully Burdened Manufacturing Costs of such Product at the time such Product is manufactured and shall be set forth in the applicable Work Order. Upon SutroVax’s request from time-to-time, Sutro shall disclose to SutroVax the then-current Price for Product. The Price for the Products as of the Effective Date is set forth in Schedule 1. 

3.3 Recordkeeping. During the Term and for [***] years thereafter, or for such longer period as may be required by Applicable Law, Sutro
shall prepare and retain, and shall cause its subcontractors to prepare and retain, accurate books and records related to transactions made pursuant to this Supply Agreement and Prices. Such records shall be made available for reasonable review,
audit and inspection upon reasonable notice and with reasonable frequency, upon SutroVax’s request for the purpose of verifying Sutro’s calculations of amounts due hereunder, the basis for such calculations (including Sutro’s
calculation of the Fully Burdened Manufacturing Costs) or payments and Sutro’s compliance with the terms and conditions of this Supply Agreement. Audits and inspections may be conducted by SutroVax’s own personnel or retained
consultant(s), subject to the confidentiality obligations set forth in this Supply Agreement. 
 3.4 Taxes. The Prices are exclusive
of all Taxes. SutroVax will pay all taxes and duties that are assessed by any national, federal, state or local governmental authority on SutroVax’s purchase or use of the Products, including, without limitation, sales, use, excise, value-added
and withholding taxes, but excluding any taxes based on Sutro’s income or gross receipts (collectively, “Taxes”). Sutro will separately identify all such Taxes on Sutro’s invoice. 

 ARTICLE 4 

PRODUCT TESTING 

4.1 Product Testing and Inspections. Each shipment of Product shall be accompanied by a certificate of analysis describing all current
requirements of the Specifications and results of tests performed on such Product and a certificate of conformity certifying that the quantities of Product supplied have been Manufactured, controlled and released according to the Required Standards
(“COA/COC”) as set forth in the applicable Quality Agreement (subject to SutroVax’s conduct of the SutroVax Activity Test to confirm Extract meets the SutroVax Activity Criteria). The COA/COC acceptance criteria for each
Product shall be set forth in the Specification for such Product. Two of the tests and corresponding COA/COC acceptance criteria for the Extract shall be the performance of a productivity (Activity) test of the applicable Sutro protein (the
“Sutro Activity Test” and “Sutro Activity Criteria”) and the performance of a productivity (activity) test of the applicable Vaccine Composition (the “SutroVax Activity Test” and “SutroVax
Activity Criteria”). Sutro shall perform the Sutro Activity Test to confirm that all shipments of Extract meet the Sutro Activity Criteria and SutroVax (or its designee) shall perform the SutroVax Activity Test to confirm that all shipments
of Extract meet the SutroVax Activity Criteria. Sutro will also provide SutroVax with Material Safety Data Sheets (“MSDS”) or an equivalent instrument recognized by the applicable Regulatory Authority as required for the Product(s),
and updates of the same as necessary. 
 4.2 Acceptance/Rejection of Non-Conforming Goods.
SutroVax or its designee shall have a period of [***] calendar days from the date of delivery of the Product(s) in accordance with Section 2.6 and the COA/COCs or the equivalent instrument recognized by the applicable Regulatory Authority for
such Product(s) (“Acceptance Period”), to inspect any shipment of Product(s) and conduct the SutroVax Activity Test to determine whether such shipment conforms to the Required Standards. If SutroVax determines that the Product(s) do
not conform to the Required Standards, it hall notify Sutro within the Acceptance Period, and, if requested by Sutro, SutroVax shall ship a sample of such non-conforming Product(s) to Sutro at Sutro’s
expense. SutroVax’s failure to notify Sutro of the non-conformity within the Acceptance Period will be deemed for purposes of this Supply Agreement to constitute SutroVax’s acceptance of such
shipment, provided, however, that such acceptance shall be subject to SutroVax’s right to reject Product(s) until [***] days from the delivery date of the applicable Product, in each case, due to discovery by SutroVax or SutroVax’s
Affiliates or designees that the applicable Product does not conform to the Required Standards and such non-conformance could not reasonably be discovered within the Acceptance Period (“Latent
Defects”) provided that SutroVax gives Sutro with written notice of such Latent Defect within [***] days of SutroVax or any SutroVax Affiliate or designee becoming aware of such defect. 

4.3 Disputes Regarding Conformance to Required Standards. If Sutro does not agree with SutroVax’s determination that Product fails
to conform to the Required Standards, then Sutro shall so notify SutroVax in writing within [***] days of its receipt of SutroVax’s notice of non-conformity with respect to such Product and (if requested)
Product sample. Sutro and SutroVax shall use reasonable efforts to resolve such disagreement as promptly as possible. 

 
Without limiting the foregoing, Sutro and SutroVax shall discuss in good faith mutually acceptable testing procedures pursuant to which both Sutro and SutroVax will
re-test a sample of the disputed Product to determine whether such Product meets the Required Standards. Notwithstanding the foregoing, in the event that Sutro and SutroVax are unable to resolve such
disagreement within [***] days of the date of the applicable rejection notice, either Party may submit a sample of the allegedly non-conforming Product for testing and a determination as to whether or not such
Product conforms to the Required Standards to an independent testing organization, or to a consultant of recognized repute within the United States pharmaceutical industry, in either case mutually agreed upon by the Parties (such organization or
consultant, the “Laboratory”), the appointment of which shall not be unreasonably withheld or delayed by either Party. The determination of the Laboratory with respect to all or part of any shipment of Product shall be final and
binding upon the Parties. The fees and expenses of the Laboratory making such determination shall be borne by Sutro, in the event that the Laboratory determines that the Product was non-conforming and by
SutroVax, in the event that the Laboratory determines that the Product did conform to the Required Standards. 
 4.4 Return and
Replacement of Non-Conforming Goods. Product that is either rejected by SutroVax as not meeting the Required Standards, or that is determined by the Laboratory not to meet such Required Standards, shall,
[***], be returned by SutroVax to Sutro, or destroyed pursuant to Applicable Law, at Sutro’s reasonable expense. Sutro shall replace any non-conforming Product(s) within the shortest possible time.
SutroVax shall have no responsibility to Sutro for the amounts invoiced for non-conforming Product(s), and shall be credited for any amounts paid, but shall pay Sutro the applicable Price for the replacement
Product(s) under the terms of Section 3.1. 
 ARTICLE 5 

INSPECTION 
 5.1
Right to Audit. During the Term and the [***] period thereafter, SutroVax or a SutroVax Affiliate may, during normal working hours and upon reasonable advance notice perform site audits and inspect, or request information relating to,
Sutro’s or its subcontractor’s Facilities and records directly or indirectly involved in the performance of this Supply Agreement or related to the Product(s). Such requests should be made in writing and Sutro will allow for such audits or
inspection to occur within [***] days from request (excepting for cause audits) for Sutro’s Facilities and within [***] days’ from request (excepting for cause audits) for Sutro’s subcontractor’s facilities. Reasonable advance
notice for audits for cause shall not require more than [***] advance notice. During such an inspection or request for information the inspectors may inquire about the progress of the work being carried out by Sutro or its subcontractor, and are in
particular but not exclusively authorized to: 
 5.1.1 Inspect the Facilities, documents and equipment used, or to be used, in the
Manufacture of the Product(s); 
 5.1.2 Verify the qualifications of the employees and subcontractors carrying out such work and their use of
the relevant equipment; 

 5.1.3 Evaluate all scientific techniques used by Sutro, its subcontractors and their
respective employees in the performance of this Supply Agreement and the procedures used in the creation and storage of samples of the Product(s), provided that nothing in this Section 5.1.3 shall require Sutroto disclose any Sutro Core Know-How; 
 5.1.4 Verify and evaluate information relating to the utilization of the Manufacturing
capacity of Sutro’s Facilities or its subcontractor’s Facilities; 
 5.1.5 Review correspondence, reports, filings and other
documents from Regulatory Authorities to the extent related to the Manufacturing activities hereunder; 
 5.1.6 Evaluate the implementation
of all Manufacturing and process changes made with respect to the Product, including pursuant to any corrective action plan; and 
 5.1.7
Ascertain compliance with Applicable Laws, the Specifications and this Supply Agreement. 
 5.2 Access. Sutro shall provide
SutroVax’s and its Affiliate’s and Sublicensee’s inspectors with access to its Facilities, and information related to such Facilities, in order that the inspectors may carry out the inspections or inquiries referred to in the
provisions of this Article 5. For the avoidance of doubt, neither SutroVax nor any of its Affiliates or Sublicensees (or their respective inspectors) shall have the right to observe the Manufacture of the Extract or be present at Sutro and
its subcontractors’ Facilities at such times when Extract is being Manufactured. Sutro shall use Commercially Reasonable Efforts to obtain from its subcontractors commitments similar to those contemplated in this Section 5.2. Audits and
inspections may be conducted by SutroVax’s own personnel or retained consultant(s), subject to the confidentiality obligations set forth in this Supply Agreement. 

5.3 Sutro Audits. Without limiting the foregoing; Sutro is responsible for auditing the facilities of the suppliers of Components, if
any, periodically, and Sutro agrees to provide SutroVax, upon SutroVax’s request with a current copy of the audit report of such facilities and to incorporate SutroVax’s comments with respect to any corrective action plan related to the
Product. 
 ARTICLE 6 

REGULATORY AND QUALITY RESPONSIBILITIES 

6.1 Regulatory Responsibilities. Sutro shall obtain and maintain any and all regulatory and governmental permits, licenses and
approvals that are necessary for Sutro to Manufacture the Product(s) for SutroVax or its Affiliates in accordance with the terms of this Supply Agreement and Applicable Law. As between the Parties, SutroVax shall have the sole responsibility for all
Regulatory Approvals of the Vaccine Compositions. 
 6.2 Right of Reference; Drug Master Files. Sutro shall (a) file Drug Master
File(s) for the Products with the FDA as requested by SutroVax, and with Regulatory Authorities in the European Union (including the United Kingdom) and Japan in accordance with timelines to be mutually agreed upon (such agreement not to be
unreasonably withheld by either Party) (provided at SutroVax’s request, Sutro shall do so within [***] of SutroVax’s request using 

 
Regulatory Filings that comprise versions of the DMF(s) filed with the FDA that have been reformatted to comply with EU and Japanese requirements), and (b) provide the appropriate
authorizations to such Regulatory Authority(ies) allowing the Regulatory Authority the right to review and SutroVax or its designee to reference such Drug Master File(s) in support of (and other Regulatory Materials, to the extent necessary to
support) an application for Regulatory Approval submitted by SutroVax (or its permitted designee) for any Vaccine Composition produced using the Product the subject of the applicable Drug Master File (it being understood that SutroVax, its
Affiliates· and Sublicensees shall not have access to the information contained in such Drug Master Files (or other confidential Regulatory Materials submitted for a similar purpose as a Drug Master File (e.g., a clinical trial application
for such purpose in the European Union)) as a result of such authorization and right to reference). Sutro shall file such Drug Master File in coordination with SutroVax’s efforts to file and prosecute the applicable regulatory filings to such
Regulatory Authority and Sutro shall be responsible, at SutroVax’s sole expense (subject to a budget reasonably approved in advance by SutroVax), for providing the applicable Regulatory Authorities with such additional data as they may request
(which may in some cases require Sutro to conduct additional studies), and for correcting any deficiencies of such Drug Master File identified by such Regulatory Authority, in each case in a reasonably prompt and efficient manner so as to prevent
any delay in obtaining Regulatory Approvals for any Vaccine Composition based on such Drug Master File. In addition, Sutro shall be responsible for maintaining such Drug Master File in accordance with applicable Laws as necessary to support filing
and prosecuting the applicable regulatory filing(s) and obtaining and maintaining the applicable Regulatory Approval(s) for Vaccine Compositions produced using the Products. For further clarity, to the extent Sutro discloses. Sutro Know-How to SutroVax, SutroVax shall have the right to include (and authorize the inclusion of) such Sutro Know-How in Regulatory Materials to the extent it is necessary or
useful for the purpose of obtaining Regulatory Approval of a Vaccine Composition. Sutro’s obligations under this Section 6.2 shall [***]. Sutro shall cause its personnel to record time spent performing such activities to a job code
specific to such activities. For purposes of this Article 6 “Drug Master File” or “DMF” means a submission to a Regulatory Authority of information concerning the chemistry, manufacturing and controls
(“CMC”) of the Products to permit such Regulatory Authority to review this information in support of any application for Regulatory Approval for a product submitted by a party that has been granted a right to reference such
submission without disclosing the contents of such submission to such party. Sutro shall file DMF(s) for the Products with other Regulatory Authorities in the Territory in accordance with the terms and conditions of the Phase 3/Commercial Supply
Agreement referenced in Section 2.14 (and, for clarity, shall file DMF(s) for the Products with Regulatory Authorities in the European Union (including the United Kingdom) and Japan as necessary to comply with the requirements of such
Regulatory Authorities, to the extent not filed under this Supply Agreement). 
 6.2.1 Compliance. Subject to the foregoing, Sutro
shall provide the information set forth under this Section 6.2 in a timely manner and compliant with the reporting requirements of the Regulatory Authorities. 

 6.2.2 Safety Data. Each Party understands and acknowledges that the other Party and
its Affiliates and respective licensees or sublicensees may need to access and utilize and include certain safety data (e.g., adverse event reports) pertaining to product made using Products that is generated or received by such Party and its
Affiliates and respective licensees or sublicensees in its Regulatory Materials in its respective Territory as required by applicable Laws. Each Party shall have the right to share any and all such safety data generated by the other Party or the
other Party’s Affiliates or licensees or sublicensees with its Affiliates and Third Parties (including its licensees and sublicensees) as permitted under section 10.2 of the License Agreement. 

6.2.3 Cooperation. Each Party agrees to (i) make its personnel reasonably available at their respective places of employment to
consult with the other Party on issues related to the activities conducted in accordance with this Article 6 or otherwise relating to the development of the Products or Vaccine Compositions and thereafter in connection with any request from any
Regulatory Authority, including with respect to regulatory, scientific, technical and clinical testing issues, or otherwise, throughout the Term, and (ii) otherwise provide such assistance as may be reasonably requested by the other from time-to-time in connection with the activities to be conducted under this Article 6 or otherwise relating to the development of the Vaccine Compositions or Products. 

6.3 Recalls. Each of SutroVax and Sutro will immediately inform the other in writing if it believes one or more lots of any Product(s),
or any products made by Sutro or its licensees using the Products (to the extent such products are made using Products from the same batch provided to SutroVax), or any Vaccine Compositions should be subject to recall from distribution, withdrawal
or some other field action, or that potential adulteration, misbranding, and/or other issues have arisen that relate to the safety or efficacy of such Product. SutroVax shall have the final decision-making authority as to any such recall or field
action and the sole right to initiate any such recall or field action with respect to Vaccine Compositions made using the Products. Sutro shall cooperate in the conduct of any recall or field action with respect to the Vaccine Compositions as
reasonably requested by SutroVax. In the event it is determined that such a recall resulted from a breach by either Party of any of its representations, warranties, duties or obligations under this Supply Agreement, such Party shall be responsible
for the costs of the recall and shall reimburse the other Party as necessary; provided that if both Parties share responsibility with respect to such recall, the costs shall be shared in the ratio of the Parties’ contributory responsibility.

 6.4 Retention of Samples. Sutro shall prepare and retain, and shall cause its subcontractors to prepare and retain, such samples
and records in respect of the Product(s) and the Manufacture thereof as are required by Applicable Law (including, as applicable, cGMPs). 

6.5 Regulatory Authority Inspections and Correspondence. Sutro shall permit Regulatory Authorities to conduct such inspections of any
Facility at which any of the Manufacturing activities relating to the Product(s) are performed, as such Regulatory Authorities may request, including pre-approval inspections,· and shall cooperate with
such Regulatory Authorities with respect to such inspections and any related matters, in each case that is related to the Manufacture of Product(s). Sutro shall give SutroVax or its Affiliates prior written notice of any such inspections, and shall
keep SutroVax informed about the results and conclusions of each such regulatory inspection, including actions taken by Sutro to remedy conditions cited in such inspections. Sutro shall provide SutroVax with copies of any written inspection reports
issued by anyRegulatory Authority and all correspondence between Sutro and any Regulatory Authority with respect thereto, including any notices of observation and all related 

 
correspondence, in each case relating to the Product(s) or its Manufacture or to general manufacturing concerns (e.g., facility compliance or the like) that are reasonably likely to impact the
Product(s) to the extent such general manufacturing matters would be reasonably expected to have a material effect on the manufacture of Vaccine Compositions; provided that Sutro may redact from any such report and correspondence any Sutro Core Know-How and any information subject to an obligation of confidentiality to a Third Party. In addition, Sutro agrees to promptly notify and provide SutroVax copies of any material request, directive, or other
written communication to or from Regulatory Authorities related to the Product or its Manufacture that would reasonably be expected to have a material effect on the manufacture of Vaccine Compositions (it being understood that SutroVax, its
Affiliates and Sublicensees shall not have access to Sutro Core Know How (which Sutro may redact from such reports or correspondence provided to SutroVax) or Sutro’s Drug Master Files or other confidential Regulatory Materials submitted for a
similar purpose as a Drug Master File). Sutro shall provide SutroVax with a copy of the applicable portion of any correspondence made by Sutro to a Regulatory Authority for review and comment prior to submission to the applicable Regulatory
Authority solely to the extent such correspondence made by Sutro is related to SutroVax or is in response to a request, directive or correspondence from the applicable Regulatory Authority regarding SutroVax or a Vaccine Composition (e.g., in
response to a report regarding a pre-approval inspection for SutroVax). Sutro will consider in good faith any comments received from SutroVax within the time period indicated by Sutro (which shall not be less
than [***], to the extent consistent with the require timeline for Sutro’s response) with respect to any matter that relates to SutroVax. In addition, Sutro shall notify SutroVax of any occurrences or information that arise out of Sutro’s
Manufacturing activities that have, or could reasonably be expected to have, adverse regulatory compliance or reporting consequences concerning any Product(s) or which might otherwise be reasonably expected to adversely affect the supply by Sutro of
Product(s) to SutroVax. 
 6.6 Changes or Modifications in Manufacturing Activities. Sutro shall not make any changes to the
Specifications, processes, Facilities, raw materials, raw material suppliers or any other item that would affect the Manufacturing activities related to the Product (a “Manufacturing Change”) that (a) would require a change to
the applicable Drug Master File, (b) would be reasonably expected to cause SutroVax to be materially delayed obtaining any Regulatory Approval with respect to Vaccine Compositions or (c) causes the Product to not meet the Specification
therefor (including the Activity Test with respect to Extract); without SutroVax’s prior written consent (not to be unreasonably withheld, conditioned or delated). Notwithstanding the foregoing, Sutro shall promptly make and implement such
changes as are required by Applicable Law provided that, prior to implementation, Sutro shall provide notice thereof to SutroVax and confer with SutroVax with respect to its timelines, estimated effect on Price and other issues regarding such
implementation. Sutro shall provide SutroVax at least [***] days’ written notice prior to implementing any Manufacturing Change. Sutro shall not make any change to the Specification for a Product without SutroVax’s prior written consent.
In addition, SutroVax shall have the right to request changes in or modifications to the Specifications and Sutro will consider in good faith any such requested changes or modifications. All such changes or modifications shall be documented in
writing and shall be signed by an authorized representative of SutroVax and Sutro. If such changes or modifications result in a material change in Sutro’s Manufacturing costs or lead times, the Parties shall agree upon an appropriate adjustment
to the Price or in the delivery schedules, as the case may be, for Product(s) to be provided by Sutro hereunder. Sutro shall promptly implement any agreed upon changes to the Specifications. 

 6.7 Quality Agreement. As soon as reasonably practicable after the Effective Date,
the Parties shall enter into a quality agreement governing Sutro’s supply of Products (the “Quality Agreement”), which Quality Agreement shall include the Specifications for the Product(s) consistent with the Specifications set
forth in Schedule 2. Accordingly, to permit the Quality Agreement to be finalized within such period, Sutro shall provide SutroVax or its designee access to Sutro’s Facilities and records to enable SutroVax or its designee to complete an audit
pursuant to Section 5.1 within [***] days after the Effective Date. 
 ARTICLE 7 

REPRESENTATION AND WARRANTIES 

7.1 SutroVax Warranties and Representations. SutroVax represents and warrants the following: 

7.1.1 SutroVax is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 

7.1.2 SutroVax has all requisite power and authority to enter into this Supply Agreement. The person signing this Supply Agreement has the
necessary corporate authority to legally bind SutroVax to the terms set forth herein. 
 7.1.3 SutroVax’s execution of this Supply
Agreement and performance of the terms set forth herein will not cause SutroVax to be in conflict with or constitute a breach of its organizational documents nor any other agreement, court order, consent decree or other arrangement, whether written
or oral, by which it is bound. 
 7.1.4 SutroVax’s execution of this Supply Agreement and performance hereunder are in, and will be in,
compliance with any Applicable Law in all material respects. 
 7.1.5 This Supply Agreement is its legal, valid and binding obligation,
enforceable against SutroVax in accordance with the terms and conditions hereof, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally
or by the principles governing the availability of equitable remedies. 
 7.2 Sutro Warranties and Representations. Sutro represents
and warrants the following: 
 7.2.1 Sutro is a corporation duly organized, validly existing and in good standing under the laws of the State
of Delaware. 
 7.2.2 Sutro has all requisite power and authority to enter into this Supply Agreement and has the requisite skill, knowledge,
staffing, financial resources, capacity and ability to carry out its obligations hereunder. The person signing this Supply Agreement has the necessary authority to legally bind Sutro to the terms set forth herein. 

 7.2.3 Sutro’s execution of this Supply Agreement and performance of the terms set forth
herein will not cause Sutro to be in conflict with or constitute a breach of its organizational documents nor any other agreement, court order, consent decree or other arrangement, whether written or oral, by which it is bound. 

7.2.4 Sutro’s execution of this Supply Agreement and performance hereunder are in, and will be in, compliance with any Applicable Law in
all material respects. 
 7.2.5 Sutro has and will maintain throughout the Term all permits, licenses, registrations and other forms of
governmental authorization. and approval as required by Applicable Law in order for Sutro to execute and deliver this Supply Agreement and to perform its obligations hereunder in accordance with all Applicable Law. 

7.2.6 as of the Effective Date, to the best of Sutro’s knowledge, the practice of the Sutro Platform, including the use of the Products,
does not infringe any Third Party patents. 
 7.2.7 7.2.7 Sutro is not debarred and Sutro has not and will not use in any capacity the
services of any person debarred under subsection 306(a) or (b) of the U.S. Generic Drug Enforcement Act of 1992, or other Applicable Law, nor have debarment proceedings against Sutro or any of its employees or permitted subcontractors been
commenced. 
 7.2.8 This Supply Agreement is its legal, valid and binding obligation, enforceable against Sutro in accordance with the terms
and conditions hereof, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally or by the principles governing the availability of
equitable remedies. 
 7.2.9 As of the Effective Date, there are no claims, judgments or settlements against or owed by Sutro or its
Affiliates, or pending or, to the best of Sutro’s knowledge, threatened claims or litigation, relating to the Product(s). 
 7.3
Product Warranties. Sutro represents and warrants that: 
 7.3.1 Sutro’s Facility and all Product (as delivered in accordance with
Section 2.1 and until the expiration date thereof) supplied hereunder (and the Manufacture thereof) shall comply with this Supply Agreement, all Applicable Law (including cGMPs, if applicable),·be free from defects in material and
workmanship, and meet all Specifications. 
 7.3.2 Title to all Product(s) provided under this Supply Agreement shall pass to SutroVax as set
forth in Section 2.6, free and clear of any security interest, lien, or other encumbrance. 
 7.4
Disclaimer. EACH PARTY AGREES AND ACKNOWLEDGES THAT, EXCEPT AS SET FORTH IN THIS ARTICLE 7, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, IMPLIED OR STATUTORY, AND EACH PARTY HEREBY EXPRESSLY DISCLAIMS ALL
REPRESENTATIONS AND WARRANTIES, IMPLIED OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AGAINST NON-INFRINGEMENT OR THE LIKE, OR ARISING FROM COURSE OF
PERFORMANCE. 

 ARTICLE 8 

CONFIDENTIALITY 

8.1 Article 10 of the License Agreement (Confidentiality) is hereby incorporated into this Supply Agreement by reference. The terms and
provisions of this Supply Agreement (which shall be the Discloser’s Information of both Parties) and all other information and data, including all notes, books, papers, diagrams, documents, reports,
e-mail, memoranda, visual observations, oral communications and all other data or information in whatever form, that one Party or any of its Affiliates or representatives supplies or otherwise makes available
to the other Party or its Affiliates or representatives pursuant to this Supply Agreement shall be deemed Discloser’s Information pursuant to Article 10 of the License Agreement. 

ARTICLE 9 

INDEMNIFICATION AND INSURANCE 

9.1 Indemnification. 

9.1.1 Indemnification by Sutro. Sutro hereby agrees, at its sole cost and expense, to defend, hold harmless and indemnify, to the extent
permitted by Applicable Law, (collectively, “Indemnify”) SutroVax and its Affiliates and their respective agents, directors, officers and employees of such Persons and the respective successors and assigns of any of the foregoing
(the “SutroVax Indemnitees”) from and against any and all liabilities, damages, penalties, fines, costs and expenses (including, reasonable attorneys’ fees and other expenses of litigation) (collectively,
“Liabilities”) resulting from suits, claims, actions and demands, in each case brought by a Third Party (each, a “Third-Party Claim”) against any SutroVax Indemnitee and arising from or occurring as a result of:
[***]. Sutro’s obligation to Indemnify the SutroVax Indemnitees pursuant to this Section 9.1.1 shall not apply to the extent that any such Liabilities are the result of a material breach by SutroVax of its obligations,
representations, warranties or covenants under this Supply Agreement or the License Agreement or any SutroVax Indemnitee’ s negligence or willful misconduct. 

9.1.2 Indemnification by SutroVax. SutroVax hereby agrees to Indemnify Sutro and its agents, directors, officers and employees and the
respective successors and assigns of any of the foregoing (the “Sutro lndemnitees”) from and against any and all Liabilities resulting from Third-Party Claims against any Sutro Indemnitee arising from or occurring as a result of:
[***]. SutroVax’s obligation to Indemnify the Sutro Indemnitees pursuant to this Section 9.1.2 shall not apply to the extent that any such Liabilities are the result of a material breach by Sutro of its obligations,
representations, warranties or covenants under this Supply Agreement or the License Agreement or any Sutro Indemnitee’s negligence or willful misconduct. 

 9.1.3 Procedure. To be eligible to be Indemnified hereunder, the indemnified Person
shall provide the indemnifying Party with prompt written notice of the Third-Party Claim giving rise to the indemnification obligation pursuant to this Section 9.1 and the right to control the defense (with the reasonable
cooperation of the indemnified Person) or settlement any such claim; provided, however, that the indemnifying Party shall not enter into any settlement that admits fault, wrongdoing or damages without the indemnified Person’s written consent,
such consent not to be unreasonably withheld or delayed. The indemnified Person shall have the right to join, but not to control, at its own expense and with counsel of its choice, the defense of any claim or suit that has been assumed by the
indemnifying Party. 
 9.2 Insurance. Each Party shall procure and maintain insurance, including clinical trials and product liability
insurance, adequate to cover its obligations hereunder and consistent with normal business practices of prudent companies similarly situated at all times during which any Product or Vaccine Compositions is being clinically tested in human subjects
or commercially distributed or sold by such Party. It is understood that such insurance shall not be construed to create a limit of either Party’s liability or indemnification obligations under this Article 9, or that the maintenance of such
insurance shall not be construed to relieve either Party of its other obligations under this Supply Agreement. Each Party shall provide the other with written evidence of such insurance upon request. Each Party shall provide the other with written
notice at least [***] days prior to the cancellation, non renewal or material change in such insurance. 
 9.3 LIMITATION OF
LIABILITY. EXCEPT (I) WITH RESPECT TO ANY BREACH OF ARTICLE 8 (CONFIDENTIALITY), (II) FOR THIRD PARTY PENALTIES, COSTS AND EXPENSES AS SET FORTH IN SECTION 2.9, OR (III) FOR [***], TO THE MAXIMUM EXTENT PERMITTED BY LAW,
(A) NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES, WHETHER LIABILITY IS ASSERTED IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER THEORY OR FORM
OF ACTION, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY THEREOF; AND (B) EACH PARTY’S TOTAL LIABILITY TO THE OTHER PARTY UNDER THIS SUPPLY AGREEMENT SHALL NOT EXCEED [***]. SUTRO’S LIABITY TO SUTROVAX FOR THIRD PARTY
PENALTIES, COSTS AND EXPENSES UNDER SECTION 2.9 SHALL NOT EXCEED [***]. 
 ARTICLE 10 

TERM AND TERMINATION 

10.1 Term. The term of this Supply Agreement shall begin on the Effective Date first set forth above and shall remain in effect until
the later of (a) July 31, 2021 or (b) the date that the Parties enter into the Phase 3/Commercial Supply Agreement and Sutro is supplying to SutroVax each Product under the Phase 3/Commercial Supply Agreement (the
“Term”), unless it is terminated earlier in accordance with Section 10.2. 
 10.2
Termination. Notwithstanding anything to the contrary in this Supply Agreement, this Supply Agreement may be terminated: 
 10.2.1 in its
entirety or with respect to one or more Products, on a Product-by-Product basis, by mutual written consent of Sutro and SutroVax; 

 10.2.2 in its entirety by a Party if the other Party materially breaches any of the material
terms, conditions or agreements contained in this Supply Agreement to be kept, observed or performed by the other Party, by giving the Party who committed the breach [***] days’ prior written notice, unless the notified Party shall have cured
the breach within such [***]-day period; and 
 10.2.3 in its entirety or with respect to one or more
Products, on a Product-by-Product basis, by SutroVax upon [***] days’ prior written notice to Sutro for any reason. 

10.3 Effects of Termination. Upon the expiration of the Term or termination of this Supply Agreement, in its entirety or with respect to
one or more Products, this Supply Agreement shall, except as otherwise provided in this Section 10.3 or Section 10.5, be of no further force or effect; provided, however, that (a) in the event
this Supply Agreement is terminated by SutroVax pursuant to Section 10.2.3 and there are outstanding Work Orders or other purchase orders accepted by Sutro that would not be fulfilled as a result of such termination,
SutroVax shall reimburse Sutro for all supplies and materials purchased by Sutro and time incurred by Sutro personnel (to the extent incurred solely for manufacture of Product for SutroVax) for the manufacture, or preparation for the manufacture, of
Products for any Work Orders placed by SutroVax and any other purchase orders accepted by Sutro prior to such expiration or termination, in each case to the extent Sutro cannot otherwise reasonably mitigate such the costs and expenses of such
supplies, materials and time (e.g., by use of resulting supplies, materials and work-in-progress Product for other purposes); provided that to the extent SutroVax pays for any supplies or materials, upon
SutroVax’s request Sutro shall promptly transfer and deliver such supplies and materials to SutroVax; and (b) if this Supply Agreement is terminated with respect to one or more Products, but not all Products, then this Supply Agreement
shall continue in full force and effect with respect to the applicable Product(s) for which it is not terminated. 
 10.4 Nonexclusive
Remedy. Exercise of any right of termination afforded to either Party under this Supply Agreement (i) shall not prejudice any other legal rights or remedies either Party have against the other in respect of any breach of the terms and
conditions of this Supply Agreement, and (ii) shall be without any obligation or liability arising from such termination other than such obligations expressly arising from termination of this Supply Agreement. 

10.5 Survival. Expiration of the Term or termination of this Supply Agreement (for any reason) shall not affect any accrued rights or
liabilities of either Party. Article 4 (Product Testing), Article 5 (Inspection), Article 8 (Confidentiality), Article 9 (Indemnification and Insurance), Article 11 (Disputes), Article 12 (Miscellaneous),
and Sections 2.2 (Transfer of Product), 2.14 (Phase 3/Commercial Supply Agreement), 2.15 (Qualification of Alternate Supplier), 2.17 (Manufacture of Custom Reagents), 3.3 (Recordkeeping), 3.4
(Taxes), 6.2 (Right of Reference; Drug Master Files), 6.3 (Recalls), 6.4 (Retention of Samples), 6.5 Regulatory Authority Inspections and Correspondence), 7.3 (Product Warranties), 7.4 (Disclaimer),
10.3 (Effects of Termination), 10.4 (Nonexclusive Remedy), and 10.5 (Survival) shall survive any expiration of the Term or termination of this Supply Agreement. 

 ARTICLE 11 

DISPUTE RESOLUTION 

11.1 Principal Contacts. Each Party will appoint an individual employed by it to serve as its “Principal Contact” for
purposes of this Supply Agreement. Either Party may from time to time replace its Principal Contact with a different employee, but unless required due to events beyond its control, neither Party will replace its Principal Contact without at least
[***] days prior notice to the other Party. The two Principal Contacts shall communicate with each other regularly during the Term as the Parties may agree or as the Principal Contacts shall mutually determine to be useful. 

11.2 Escalation. The Parties intend that, to the maximum extent practicable, they shall reach decisions hereunder cooperatively through
discussions among the Principal Contacts and by mutual consent of the Parties. In situations in which that does not occur, disputes or differences arising out of or in connection with this Supply Agreement shall initially be referred for review by
the Parties’ respective Senior Managements (as defined below). Such Senior Managements shall discuss the proposed dispute or difference, and shall meet with respect thereto if either of them believes a meeting or meetings are likely to be
useful. If the Senior Managements do not resolve the dispute or difference within [***] days (or such lesser or longer period as they may agree is a useful period for their discussions), then either Party may pursue its other available remedies,
consistent with this Supply Agreement. As used herein, Sutro’s “Senior Management” means its then-current CEO, and SutroVax’s “Senior Management” means its then-current CEO. For clarity, there shall be no
obligation for any Disputed Matter arising out of Section 2.14 or 2.15 to be referred to the Senior Management to review prior to such matters being resolved by arbitration pursuant to Sections 11.3 and 11.4. 

11.3 Arbitration. If the Senior Managements are not able to resolve such dispute referred to them under Section 11.2 within such
[***] day period, then such dispute shall be resolved by final and binding arbitration as follows: The Parties shall select a mutually agreeable arbitrator who has significant relevant experience in the subject matter of the disputed issue and no
affiliation or pre-existing relationship with either Party. If the Parties cannot agree on an arbitrator within [***] days after the end of the [***] day period referred in Section 11.2 (or with respect
to a Disputed Matter described in Section 11.4, after referral by a Party of such Disputed Matter to arbitration), either Party may request the Judicial and Mediation Services (“JAMS”) in San Francisco, CA to appoint an
arbitrator on behalf of the Parties in accordance with the commercial arbitration rules of JAMS, and the proceeding shall be conducted in accordance with JAMS rules. The arbitrator may decide any issue as to whether, or as to the extent to which,
any dispute is subject to the arbitration and other dispute resolution provisions in this Supply Agreement. The arbitrator must base the award on the provisions of this Supply Agreement and must render the award in a writing which must include an
explanation of the reasons for such award. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof. The arbitrator’s fees and expenses shall be shared equally by the Parties, unless the
arbitrator in the award assesses such fees and expenses against one of the Parties or allocates such fees and expenses other than equally between the Parties. Each Party shall bear and pay its own expenses incurred in connection with any dispute
resolution under this Section 11.3. Notwithstanding the foregoing, either Party shall have the right, without waiving any right or remedy available to such Party under this Supply Agreement or otherwise, to seek and obtain from any court of
competent jurisdiction any interim or provisional relief that is necessary or desirable to protect the rights or property of such Party, pending the selection of the arbitrator hereunder or pending the arbitrator’s decision of the dispute
subject to arbitration. 

 11.4 Baseball Arbitration. In the event (a) the Parties do not enter into a
Phase 3/Commercial Supply Agreement as described in Section 2.14 or (b) the Parties do not enter into a Transfer Addendum as described in Section 2.15 (“Disputed Matter”), then upon either Party’s request with
respect to the Disputed Matter in clause (a) or SutroVax’s request with respect to the Disputed Matter in clause (b), such Disputed Matter shall be resolved by binding arbitration conducted pursuant to Section 11.3, except that the
procedures for the conduct of such arbitration shall be as follows: 
 11.4.1 Each Party shall provide the arbitrator and the other Party
with a written report setting forth its position with respect to the substance of such Disputed Matter and a full draft Phase 3/Commercial Supply Agreement or Transfer Addendum, as applicable, and may submit a revised report, position and draft
Phase 3/Commercial Supply Agreement or Transfer Addendum, as applicable, to the arbitrator within [***] days of receiving the other Party’s report and draft Phase 3/Commercial Supply Agreement or Transfer Addendum, as applicable. If so
requested by the arbitrator, each Party shall make oral and/or other written submissions to the arbitrator in accordance with procedures to be established by the arbitrator; provided that other Party shall have the right to be present during any
oral submissions. The arbitrator shall select one of the Party’s draft Phase 3/Commercial Supply Agreement or Transfer Addendum, as applicable, as his or her decision, based on what is most reasonable and equitable to each of the Parties under
the circumstances and reflective of reasonable and customary terms in the biopharmaceutical industry for agreements of this type and most closely reflects the Parties’ intent as expressed in this Supply Agreement and the License Agreement, and
shall not have the authority to render any substantive decision other than to so select the draft Phase 3/Commercial Supply Agreement or Transfer Addendum, as applicable, of Sutro or SutroVax (as initially submitted, or as revised in accordance with
the foregoing, as applicable). For clarity, it is understood that the Parties intend the arbitration under this Section 11.4 to be a “baseball arbitration” type proceeding; and the arbitrator may fashion such detailed procedures as
the arbitrator considers appropriate to implement this intent. Notwithstanding anything to the contrary, in no event shall the Phase 3/Commercial Supply Agreement or Transfer Addendum contain any provision granting to SutroVax or its Affiliates or
Sublicensees any right to obtain or use any Sutro Core Know-How. 
 11.4.2 In any arbitration under
this Section 11.4, the arbitrator and the Parties shall use their best efforts to resolve such Disputed Matter within [***] days after the selection of the arbitrator, or as soon thereafter as is practicable. 

ARTICLE 12 

MISCELLANEOUS 

12.1 Expenses. Except as otherwise expressly provided herein, each Party shall bear its own costs, fees and expenses incurred by such
Party in connection with this Supply Agreement. 
 12.2 Licenses and Permits. Each Party shall, at its sole cost and expense, maintain
in full force and affect all necessary licenses, permits, and other authorizations required by Applicable Law in order to carry out its duties and obligations hereunder. 

 12.3 Force Majeure. No Party shall be liable for a failure or delay in performing any
of its obligations under this Supply Agreement if, but only to the extent that such failure or delay is due to causes beyond the reasonable control of the affected Party, including: (a) acts of God; (b) fire, explosion, or unusually severe
weather; (c) war, invasion, riot, terrorism, or other civil unrest; (d) governmental laws, orders, restrictions, actions, embargo or blockages; (e) national or regional emergency; (f) strikes or industrial disputes at a national
level which directly impact the affected Party’s performance under this Supply Agreement; or (g) other similar cause outside of the reasonable control of such Party (“Force Majeure”); provided that the Party affected shall
promptly notify the other of the Force Majeure condition and shall use reasonable efforts to eliminate, cure or overcome any such causes and resume performance of its obligations as soon as possible. If the performance of any obligation of a Party
under this Supply Agreement is delayed owing to such a Force Majeure for any continuous period of more than [***] days, the other Party shall have the right to terminate this Supply Agreement. 

12.4 Neither Party may assign or transfer this Supply Agreement, including by merger, operation of law, or otherwise, without the other
Party’s prior written consent (which shall not be withheld unreasonably) except each Party may assign this Supply Agreement without the other Party’s consent in the case of assignment or transfer to a Third Party that succeeds to all or
substantially all of the assigning Party’s business and assets relating to the subject matter of this Supply Agreement, whether by sale, merger, operation of law or otherwise. Any attempted assignment by a Party in violation of this Section
without the written consent of the other Party will be null and void. Except as above limited, this Supply Agreement is binding upon and will inure to the benefit of each of the Parties, its successors and assigns. Without limiting the foregoing, in
the event that a Party is acquired, the acquiring Party shall agree in writing to abide by the terms of this Supply Agreement. Sutro agrees that if it assigns the License Agreement to any successor as allowed under section 15.1 of the License
Agreement, it will also assign to such successor this Supply Agreement in accordance with this Section 12.4. 
 12.5 This Supply
Agreement incorporates the Exhibits referenced herein. This Supply Agreement, together with the License Agreement, constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the Parties
hereto with respect to its subject matter. To the extent of any conflict between this Agreement and the License Agreement, the License Agreement shall govern and control. 

12.6 All notices, requests or other communication provided for or permitted hereunder shall be given in writing and shall be hand
delivered or sent by confirmed facsimile, reputable courier or by registered or certified mail, postage prepaid, return receipt requested, to the address set forth below, or to such other address of which either Party may inform the other in
writing. Notices will be deemed delivered on the earliest of transmission by facsimile, actual receipt or [***] days after mailing as described herein. 

If to Sutro:    Sutro Biopharma, Inc. 

310 Utah Ave., Suite 150 
 South
San Francisco, CA 94080 
 Attention: Chief Executive Officer 

 If to SutroVax:    SutroVax, Inc. 

 353 Hatch Dr. 

 Foster City, CA 94404 

 Attention: Chief Executive Officer 

12.7 This Supply Agreement may be amended, modified or waived only in a writing signed by the Party or Parties to be bound thereby. 

12.8 If any provision of this Supply Agreement shall be held invalid, illegal or unenforceable, such provision shall be enforced to the
maximum extent permitted by law and the Parties’ fundamental intentions hereunder, and the remaining provisions shall not be affected or impaired. 

12.9 Nothing herein contained shall constitute this a joint venture agreement and nothing herein shall constitute any Party as a
partner, principal or agent of any other, this being an agreement between independent contracting entities. Except as expressly set forth herein, no Party shall have the authority to bind any other in any respect whatsoever to Third Parties. Except
as provided herein, nothing contained in this Supply Agreement shall be construed as conferring any right on any Party to use any name, trade name, trademark or other designation of any other Party hereto, unless the express, written permission of
such other Party has been obtained. 
 12.10 This Supply Agreement has been submitted to the scrutiny of, and has been negotiated by,
both Parties and their counsel, and shall be given a fair and reasonable interpretation in accordance with its terms, without consideration or weight being given to any such term’s having been drafted by any Party or its counsel. 

12.11 This Supply Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of California,
without regard to any conflict of laws rules to the contrary. 
 12.12 Each Party acknowledges that the other Party may likely suffer
irreparable harm from such Party’s breach or threatened breach of this Agreement and the other Party, in such cases, would therefore be entitled, without waiving any other right or remedy available to, to injunctive relief (including specific
performance) without the requirement to post a bond, provided the waiver by such Party of the other Party’s requirement to post a bond shall expire on the Change of Control of the other Party, and each party agrees that the arbitrator selected
under Section 11.3 shall have the power to grant such injunctive relief (or order specific performance). The Parties shall comply with any such injunctive relief (including specific performance) ordered by the arbitrator and agree that such
order may, to the extent not precluded by applicable law, be enforceable as a final award in any court of competent jurisdiction. 
 12.13
This Supply Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile and other electronically scanned signatures
shall have the same effect as their originals. 
 [The remainder of this page is left intentionally blank] 

 IN WITNESS WHEREOF, the Parties have caused this Supply Agreement to be executed by
their respective duly authorized officers as of the Effective Date, each copy of which will for all purposes be deemed to be an original. 
  

									
	SUTRO BIOPHARMA, INC.	  	        	  	SUTROVAX, INC.
					
	By:	  	 /s/ William J. Newell
	  	        	  	By:	  	 /s/ Grant E. Pickering

	Name:	  	William J. Newell	  	        	  	Name:	  	Grant E. Pickering
	Title:	  	CEO	  	        	  	Title:	  	President & CEO

 SCHEDULE 1 

PRODUCTS AND PRICE 
 [***] 

 SCHEDULE2 

SPECIFICATIONS 
 {6 pages omitted}

 [***] 

 SCHEDULE3 

INITIAL ORDER 
 [***] 

 SCHEDULE 2.15.1 

REPRESENTATIVE CMOS 
 [***]EX-10.20

 Exhibit 10.20 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED. 
 LICENSE AGREEMENT 

This agreement (“Agreement”) is entered into as of the date of last signature (the “Effective Date”) by and between SutroVax, Inc. a
Delaware corporation having an address at 353 Hatch Drive, Foster City, California 94404 (“LICENSEE”) and The Regents of the University of California, a California public corporation having its statewide administrative offices at
1111 Franklin Street, Oakland, California 94607-5200 (“UNIVERSITY”), represented by its San Diego campus having an address at University of California San Diego, Office of Innovation and Commercialization, Mail Code 0910, 9500 Gilman
Drive, La Jolla, California 92093-0910 (“UC SAN DIEGO”). 
 BACKGROUND 

A. The invention and material disclosed in UC SAN DIEGO Disclosure No. SD2012-011 and titled “Novel Group A
Streptococcal Vaccine and Therapeutics” and claimed in U.S. patent application number 15/265,800 (Pub. No.: US 2017/019696) (“Invention” and “Material”), was made in the course of research at UC SAN DIEGO by Dr. Victor
Nizet and his associates (hereinafter and collectively, the “Inventors”) and are covered by Patent Rights as defined below. 
 B. The research was
sponsored in part by the Government of the United States of America and as a consequence this license is subject to overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and
applicable regulations; 
 C. LICENSEE entered into a Letter of Intent (UC Control
No. 2017-30-0064) with UNIVERSITY, effective August 17, 2017, for the purpose of negotiating this Agreement and is desirous of obtaining an exclusive license
to Patent Rights and a non-exclusive license to Material (defined below) from UNIVERSITY to research, develop, manufacture, sell, offer for sale, export, import or otherwise use the Invention, and the
UNIVERSITY is willing to grant such rights. Additionally, the UNIVERSITY will provide SutroVax with the Material defined below. 
 The parties agree as
follows: 
 ARTICLE 1. DEFINITIONS 
 The
terms, as defined herein, have the same meanings in both their singular and plural forms. 
  

	1.1	 “Affiliate” means any corporation, firm, limited liability company, partnership or other entity that
directly or indirectly Controls or is Controlled by or is under common control with LICENSEE. “Control” means (i) having the actual, present capacity to elect a majority of the directors of such entity; (ii) having the power to
direct at least [***] of the voting rights entitled to elect directors; or (iii) in any country where the local law will not permit foreign equity participation of a majority, ownership or control, directly or indirectly, of the maximum
percentage of such outstanding stock or voting rights permitted by local law. 

  
 1. 

	1.2	 “Commercially Reasonable Efforts” means exerting such diligent efforts and employing such resources
as would normally and objectively be exerted or employed by a similarly situated company for a product of similar market potential, profit potential and strategic value at a similar stage of its product life, taking into account the competitiveness
of the relevant marketplace, the patent, intellectual property and development positions of third parties, the applicable regulatory situation, the pricing/reimbursement situation, the commercial viability of the product and other relevant
development and commercialization factors based upon then-prevailing conditions. 

  

	1.3	 “Field” means any vaccine against Group A Streptococcus for all human uses.

  

	1.4	 “Licensed Product” means any service, composition or product which is composed of or incorporates, or
is directly or indirectly discovered, developed and/or identified using, the Invention or Material or is derived from the use of the Material or that is claimed in Patent Rights, or the research, development, manufacture, sale, offer for sale,
exportation, importation or otherwise use of which would constitute, but for the license granted to LICENSEE under this Agreement, an infringement, an inducement to infringe or contributory infringement, of any pending or issued claim within the
Patent Rights. 

  

	1.5	 “Material” means the Streptococcus pyogenes strain designed to produce the polysaccharide
provided by UNIVERSITY. 

  

	1.6	 “Net Sales” means the total of the gross invoice prices of Licensed Products sold or leased by
LICENSEE or its Sublicensee or Affiliate, or any combination thereof, less the sum of the following actual and customary deductions where applicable and separately listed (consistently applied in accordance with GAAP): [***] discounts or rebates,
[***], credits and chargebacks (as allowed under applicable law); sales tax, use tax, tariff, import/export duties, value-added tax (but only to the extent of amounts actually incurred and not refundable, reimbursable or creditable) or other excise
taxes imposed on particular sales or other governmental charges in connection with Licensed Products (except for income taxes imposed on the sales of Licensed Product in foreign countries); [***]; and credits to customers because of rejections,
recalls or returns. For purposes of calculating Net Sales, transfers among LICENSEE and its Sublicensees and Affiliates of Licensed Product shall not be treated as Net Sales; provided that the subsequent resales of such Licensed Product by LICENSEE,
its Sublicensee or Affiliate to a third party shall be treated as Net Sales. Reasonable quantities of Licensed Products that are provided [***] in connection with research and development, clinical trials towards regulatory approval, compassionate
use, humanitarian and charitable donations or indigent programs will be excluded from Net Sales. 

  

	1.7	 “Patent Costs” means all
out-of-pocket expenses for the preparation, filing, prosecution, and maintenance of all United States and foreign patents included in Patent Rights. Patent Costs include
out-of-pocket expenses for patentability opinions, inventorship determination, preparation and prosecution of patent application,
re-examination, re-issue, interference, post-grant review and other administrative proceedings in patent offices, and opposition activities, and the like, related to
patents or applications in Patent Rights. 

	1.8	 “Patent Rights” means UNIVERSITY’s rights in the claims of any of the following: the U.S. patent
application number 15/265,800 (Pub. No.: US 2017/019696); and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to
the extent the claims thereof are entirely supported in the specification and entitled to the priority date of the parent application); any patents issuing on said applications including reissues, reexaminations and extensions; and any corresponding
foreign applications or patents. 

  

	1.9	 “Property Rights” means UNIVERSITY’S right, title and interest in the tangible personal property
embodied in the Material. 

  

	1.10	 “Sponsor’s Rights” means all the applicable provisions of any license to the United States
Government executed by UNIVERSITY and the overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and applicable governmental implementing regulations. 

 

	1.11	 “Sublicense” means an agreement into which LICENSEE enters with a third party that is not an
Affiliate for the purpose of (a) granting certain rights; (b) granting an option to certain rights; or (c) forbearing the exercise of any rights, in each case, granted by UNIVERSITY to LICENSEE in the license under this Agreement
“Sublicensee” means a third party with whom LICENSEE enters into a Sublicense. LICENSEE may further grant to its Affiliates and Sublicensee(s) the right to grant their own Sublicense(s) to Sublicensee(s), who together will be considered
Sublicensee(s) holding a Sublicense for all purposes of this Agreement. For clarity, a Sublicense shall not include any assignments made to a purchaser of all or substantially all of LICENSEE’s assets or business in connection with Licensed
Product, including by way of acquisition, merger, consolidation, stock sale, asset sale or other form of reorganization. 

  

	1.12	 “Term” means the period of time beginning on the Effective Date and ending on the expiration date of
the longest-lived Patent Rights. 

  

	1.13	 “Territory” with respect to Patent and non-Material rights
worldwide, to the extent Patent Rights exist. With respect to Material rights, “Territory” means rights to the extent this license can be legally granted. 

ARTICLE 2. GRANTS 
  

	2.1	 License. Subject to the limitations set forth in this Agreement and to the extent that it may lawfully
do so, UNIVERSITY hereby grants to LICENSEE an exclusive license under Patent Rights to research, develop, make, sell, offer for sale, export, import or otherwise use Licensed Products in the Field within the Territory and during the Term. LICENSEE
may extend such license to its AFFILIATES, provided that LICENSEE will be responsible for such AFFILIATES. 

	2.2	 Sublicense. 

(a) The license granted in Paragraph 2.1 includes the right of LICENSEE to grant Sublicenses to third parties during the Term but only for as
long as the license to Patent Rights is exclusive at the time of such grant. 
 (b) With respect to Sublicense granted pursuant to Paragraph
2.2(a), LICENSEE shall: 
 (i) not receive, or agree to receive, anything of value in lieu of cash as consideration from a third party under
Sublicense without the express written consent of UNIVERSITY, such permission not to be unreasonably withheld or delayed; 
 (ii) to the
extent applicable, include all of the rights of and obligations due to UNIVERSITY (and, if applicable, the Sponsor’s Rights) and contained in this Agreement; 

(iii) promptly provide UNIVERSITY with a copy of each Sublicense issued; and 

(iv) use commercially reasonable efforts to collect and assure payment of all payments due, directly or indirectly, to UNIVERSITY from
Sublicensees and summarize and deliver all reports due, directly or indirectly, to UNIVERSITY from Sublicensees. 
 (c) Upon termination of
this Agreement for any reason, LICENSEE will have the right to assign, effective as of the effective date of termination of this Agreement, this Agreement to any and all Sublicensees, and this Agreement will survive with respect to such
Sublicensees; provided that (i) the Sublicensee is in good standing upon termination of this Agreement with LICENSEE; (ii) the Sublicensee is not currently involved in litigation as an adverse party to the UNIVERSITY and
(iii) Sublicensee is not conducting business in a country barred by statute or executive order. In the event this Agreement is assigned to any Sublicensee and survives with respect to such Sublicensee, the Sublicensee will promptly agree in
writing to be bound by the terms of this Agreement, including but not limited to payment to the UNIVERSITY of milestone, earned royalty, sublicense fees, and patent reimbursement required under Article 3. If this Agreement is assigned to and
survives with respect to more than one Sublicense, the payment obligations described above may be prorated among the Sublicensees. Where a full Assignment of all rights is provided to a sublicensee, sublicensee shall assume all rights and
obligations of Licensee. 
  

	2.3	 Reservation of Rights. UNIVERSITY reserves the right to: 

 

	 	(a)	 possess and use the Material and use the Invention and Patent Rights solely for educational and research
purposes; 

  

	 	(b)	 publish or otherwise disseminate any information about the Material, Invention and Patent Rights.

	 	(c)	 allow other nonprofit institutions to use, publish, or otherwise disseminate any information about the
Material, Invention and Patent Rights for educational and research purposes. 

 ARTICLE 3. CONSIDERATION 

 

	3.1	 Fees and Royalties. The parties hereto understand that the fees and royalties payable by LICENSEE to
UNIVERSITY under this Agreement are partial consideration for the license granted herein to LICENSEE under Patent Rights. LICENSEE shall pay UNIVERSITY: 

(a) a license issue fee of ten thousand dollars (US$10,000), within [***] days after the Effective Date; 

This Paragraph 3.1(a) will survive the termination, expiration or assignment of this Agreement. 

(b) license maintenance fees of [***] per year and payable on the first anniversary of the Effective Date and annually thereafter on each
anniversary; provided however, that such maintenance fees will be creditable against earned royalties in any given payment period; 
 (c)
LICENSEE shall pay UNIVERSITY the following milestone payments for each Licensed Product: 
 (i) [***] 

(ii) [***] 

(iii) [***] 

(iv) [***] 

(v) [***] 

(vi) [***] 

(vii) [***] 
 Each
of the milestone payments set forth in this Paragraph 3.1(c) will be payable upon each action only once for each unique Licensed Product. 

(d) an earned royalty of [***] on Net Sales of Licensed Products by LICENSEE, Sublicensees, and/or Affiliates, provided, however, that:
(i) in the event LICENSEE is required to pay royalties, to one or more third parties for patent rights necessary to make, use or sell Licensed Products, LICENSEE may deduct [***] from the earned royalties payable to UNIVERSITY for every [***]
LICENSEE [***] to said third parties; provided, however, in no event shall the amount payable to UNIVERSITY be less than [***] of the amount otherwise due. For clarity, LICENSEE shall only pay an earned royalty for Licensed Product made or sold in
the Territory; royalties shall not accrue (and LICENSEE shall pay no royalties) on any other sale of Licensed Products. 
 (e) [***] of all
Sublicense fees received by LICENSEE from its Sublicensees that are not earned royalties or for reimbursement of research and development expenses up to a maximum of [***], however, if LICENSEE grants a sublicense to a SUBLICENSEE in accordance with
Paragraph 2.2 for further research or development, but not sale, of such Licensed Products, then no percentage of Sublicense fees shall be owed to UNIVERSITY. 

 All fees and royalty payments specified in Paragraphs 3.1(a) through 3.1(e) above shall be
paid by LICENSEE pursuant to Paragraph 4.3 and shall be delivered by LICENSEE to UNIVERSITY as noted in Paragraph 10.1. 
  

	3.2	 Patent Costs. 

LICENSEE will coordinate with UNIVERSITY, and UNIVERISTY shall participate in good faith, to discuss and estimate future Patent Costs each calendar year.
LICENSEE shall reimburse UNIVERSITY for all future (on or after the Effective Date) out-of-pocket Patent Costs incurred during the Term and in the Territory within [***]
days following the date an itemized invoice is sent from UNIVERSITY to LICENSEE. 
  

	3.3	 Due Diligence. 

(a) LICENSEE shall, either directly or through its Affiliate(s) or Sublicensee(s) use Commercially Reasonable Efforts to: 

(i) diligently develop, manufacture, and sell Licensed Products; and 

(ii) achieve the diligence milestones described in Exhibit A: 

(b) If LICENSEE fails to materially perform any of its obligations specified in Paragraphs 3.3(a) (i)-(ii), then UNIVERSITY shall have the
right and option to either terminate this Agreement or change LICENSEE’s exclusive license under Patent Rights to a nonexclusive license. This right, if exercised by UNIVERSITY, supersedes the rights granted in Article 2; provided, however,
that if, despite LICENSEE’s efforts, LICENSEE is unable to meet any of its diligence obligations due to delays caused by [***] or any inaction of any federal or state agency whose approval is required for commercial sale of products, the
parties shall [***], and ultimately any such [***]. To exercise the right to terminate this Agreement or to reduce the exclusive license to a non-exclusive license for lack of diligence, UNIVERSITY shall give
LICENSEE written notice of such deficiency. LICENSEE shall thereafter have ninety (90) days to cure such deficiency. If UNIVERSITY has not received satisfactory evidence that such deficiency has been cured by the end of the ninety (90) day
period, then UNIVERSITY may, at its option, either terminate this Agreement or reduce the exclusive license to a non-exclusive license by giving written notice to LICENSEE. 

ARTICLE 4. REPORTS, RECORDS AND PAYMENTS 
  

	4.1	 Reports. 

  

	 	(a)	 Progress Reports. 

Beginning [***] after the Effective Date and within [***] days after the end of each of LICENSEE’s fiscal years, Licensee shall furnish
UNIVERSITY with a written report on the progress of its efforts during the immediately preceding fiscal year to develop and commercialize Licensed Products. 

	 	(b)	 Royalty Reports. 

After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to UNIVERSITY annual royalty reports on or
before [***] of each year Each royalty report shall cover LICENSEE’s (and each Affiliate’s and Sublicensee’s) most recently completed calendar year and shall show: 

(i) the date of first commercial sale of a Licensed Product in each country; 

(ii) the gross sales, deductions as provided in Paragraph 1.4 (Net Sales), and Net Sales during the most recently completed calendar year and
the royalties, in US dollars, payable with respect thereto; 
 (iii) the number of each type of Licensed Product sold; 

(iv) Sublicense fees and royalties received during the most recently completed calendar year in US dollars, payable with respect thereto; 

(v) the method used to calculate the royalties; and 

(vi) the exchange rates used. 
 If
no sales of Licensed Products have been made and no Sublicense revenue has been received by LICENSEE during any reporting period, LICENSEE shall so report. The reports referred to in this Paragraph 4.1(b) should be marked with the following title
and case number “License Agreement between UC SAN DIEGO and SutroVax, Inc. for case SD2012-011. Reports shall be submitted as an attachment to UC SAN DIEGO’s email address: [***]. Such reports and
information contained therein shall be deemed confidential information of LICENSEE. 
  

	4.2	 Records & Audits. 

(a) LICENSEE shall keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of all Licensed Products
manufactured, used, sold, offered for sale, and imported and Sublicense fees received under this Agreement. Such records shall be retained by LICENSEE for at least [***] years following a given reporting period. 

(b) UNIVERSITY shall have the right to request an inspection of records no more than [***]. All records shall be available during normal
business hours for inspection at the expense of UNIVERSITY by UNIVERSITY’s Internal Audit Department or by a Certified Public Accountant selected by UNIVERSITY and in compliance with the other terms of this Agreement for the sole purpose of
verifying reports and payments or other compliance issues. Such inspector shall not disclose to UNIVERSITY any information other than information relating to the accuracy of reports and payments made under this Agreement or other compliance issues.
In the event that any such inspection shows an under reporting and underpayment in excess of [***] for any [***] period, then LICENSEE shall pay the reasonably
out-of-pocket cost of the audit as well as any additional sum that would have been payable to UNIVERSITY had the LICENSEE reported correctly. For underpayment not
in excess of [***] for any [***] period, LICENSEE shall pay the difference within [***] days without inspection cost. All information obtained by UNIVERSITY in connection with such audit shall be deemed to be confidential information of LICENSEE.

	4.3	 Payments. 

(a) All fees, reimbursements and royalties due UNIVERSITY shall be paid in US dollars and all checks shall be made payable to “The Regents
of the University of California”, referencing “UC SAN DIEGO OIC”, and sent to UNIVERSITY according to Paragraph 10.1 (Correspondence). 

(b) Royalty Payments. 
 (i)
Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate for commercial sale or end use. 

(ii) LICENSEE shall pay earned royalties annually on or before [***] of each calendar year Each such payment shall be for earned royalties
accrued within LICENSEE’s most recently completed calendar year. 
 (iii) LICENSEE shall not collect royalties from, or cause to be paid
on Licensed Products sold to the account of the US Government or any agency thereof as provided for in the license to the US Government. 

(iv) For clarity, LICENSEE shall only pay an earned royalty for Licensed Product sold or made (entirely or partially) in the Territory;
royalties shall not accrue (and LICENSEE shall pay no royalties) on any other sale of Licensed Products. 
 (c) Late Payments. In the event
royalty, reimbursement and/or fee payments are not received by UNIVERSITY when due (following a [***] day grace period), LICENSEE shall pay to UNIVERSITY interest charges at a rate of [***] per year. Such interest shall be calculated from the date
payment was due until actually received by UNIVERSITY. 
 (d) Taxes. Taxes imposed by any governmental agency on any payments to be made to
UNIVERSITY by LICENSEE hereunder shall be paid by LICENSEE without deduction from any payment due to UNIVERSITY hereunder, except those taxes allowed to be deducted under the definition of Net Sales. 

ARTICLE 5. PATENT MATTERS 
  

	5.1	 Patent Prosecution and Maintenance. 

(a) Provided that LICENSEE has reimbursed UNIVERSITY for Patent Costs pursuant to Paragraph 3.2, UNIVERSITY shall diligently prosecute and
maintain the United States and, if available, foreign patents, and applications in Patent Rights using Gavrilovich, Dodd & Lindsey, LLP as counsel. For purposes of clarity, if LICENSEE is not current in reimbursing UNIVERSITY for such
Patent Costs, UNIVERSITY shall have no obligation to incur any new Patent Costs under this Agreement or to further prosecute Patent Rights or file any new patent applications under Patent Rights. UNIVERSITY shall provide LICENSEE with copies of all
relevant documentation relating to such 

 
prosecution and LICENSEE shall keep this documentation confidential. The counsel shall take instructions only from UNIVERSITY, however unless allowed by law, all patents and patent applications
in Patent Rights shall be assigned solely to UNIVERSITY. Regular communication between the UNIVERSITY and LICENSEE shall take place regarding prosecution of the Patent Rights. UNIVERSITY shall in good faith [***]. UNIVERSITY shall in any event
control all patent filings and all patent prosecution decisions and related filings (e.g., responses to office actions) shall be [***] (prosecution includes, but is not limited to, interferences, oppositions and any other inter parts or ex
parte matters originating in a patent office). 
 (b) Should LICENSEE fail to maintain the Patent Costs or elect to terminate its
reimbursement obligations with respect to any patent application or patent in Patent Rights, LICENSEE shall have no further license with respect to such Patent Rights under this Agreement. Non-payment of any
portion of Patent Costs with respect to any application or patent may be deemed by UNIVERSITY as an election by LICENSEE to terminate its reimbursement obligations with respect to such application or patent, provided UNIVERSITY has given LICENSEE a
ninety (90) day notice to cure and that period has run. UNIVERSITY is not obligated at any time to file, prosecute, or maintain Patent Rights in a country, where, for that country’s patent application or patent LICENSEE is not paying
Patent Costs, or to file, prosecute, or maintain Patent Rights to which LICENSEE has terminated its license hereunder. 
  

	5.2	 Patent Infringement. 

(a) In the event that UNIVERSITY (to the extent of the actual knowledge of the licensing professional responsible for the administration of
this Invention) or LICENSEE learns of infringement of potential commercial significance of any patent licensed under this Agreement, the knowledgeable party will provide the other (i) with written notice of such infringement and (ii) with
any evidence of such infringement available to it (the “Infringement Notice”). During the period in which, and in the jurisdiction where, LICENSEE has exclusive rights under this Agreement, neither UNIVERSITY nor LICENSEE will notify a
third party (including the infringer) of infringement or put such third party on notice of the existence of any Patent Rights without first obtaining consent of the other. If LICENSEE notifies a third party of infringement or puts such third party
on notice of the existence of any Patent Rights with respect to such infringement without first obtaining the written consent of UNIVERSITY and UNIVERSITY is sued in declaratory judgment, UNIVERSITY shall have the right to terminate this Agreement
immediately by providing [***] days’ notice as set forth in Paragraph 7.1. Both UNIVERSITY and LICENSEE will use their diligent efforts to cooperate with each other to terminate such infringement without litigation. 

(b) If infringing activity of potential commercial significance by the infringer has not been abated within [***] days following the date the
Infringement Notice takes effect, LICENSEE may institute suit for patent infringement against the infringer. UNIVERSITY may voluntarily join such suit at its own expense, but may not thereafter commence suit against the infringer for the acts of
infringement that are the subject of LICENSEE’s suit or any judgment rendered in that suit. LICENSEE may not join UNIVERSITY in a suit initiated by LICENSEE without UNIVERSITY’S prior written consent. If UNIVERSITY joins a suit at the
request of LICENSEE, LICENSEE will pay any costs incurred by UNIVERSITY arising out of such suit, including but not limited to, any legal fees of counsel that UNIVERSITY selects and retains to represent it in the suit. 

 (c) If, within [***] days following the date the Infringement Notice takes effect,
infringing activity of potential commercial significance by the infringer has not been abated and if LICENSEE has not brought suit against the infringer, UNIVERSITY may institute suit for patent infringement against the infringer. If UNIVERSITY
institutes such suit, LICENSEE may not join such suit without UNIVERSITY’S consent and may not thereafter commence suit against the infringer for the acts of infringement that are the subject of UNIVERSITY’S suit or any judgment rendered
in that suit. 
 (d) Notwithstanding anything to the contrary in this Agreement, in the event that the infringement or potential infringement
pertains to an issued patent included within the Patent Rights and written notice is given under any statute expediting litigation (e.g. the Drug Price Competition and Patent Term Restoration Act of 1984 and/or foreign counterparts of this Law)
(“Act”), then the party in receipt of such notice under the Act (in the case of UNIVERSITY to the extent of the actual knowledge of the licensing officer responsible for the administration of this Agreement) shall provide the Infringement
Notice to the other party promptly. If the time period is such that the LICENSEE will lose the right to pursue legal remedy for infringement by not notifying a third party or by not filing suit, the notification period and the time period to file
suit will be accelerated to within [***] days of the date of such notice under the Act to either party. 
 (e) Any recovery or settlement
received in connection with any suit will first be shared by UNIVERSITY and LICENSEE equally1 to cover the litigation costs each incurred, and next shall be paid to UNIVERSITY or LICENSEE to cover any litigation costs it incurred in excess of the
litigation costs of the other. In any suit initiated by LICENSEE where there is a recovery in excess of litigation costs, UNIVERSITY will receive (i) [***] or (ii) [***]. 

(f) Any agreement made by LICENSEE for purposes of settling litigation or other dispute shall comply with the requirements of Section 2.2
(Sublicenses) of this Agreement. 
 (g) Each party will cooperate with the other in litigation proceedings instituted hereunder but at the
expense of the party who initiated the suit (unless such suit is being jointly prosecuted by the parties). 
 (h) Any litigation proceedings
will be controlled by the party bringing the suit, except that UNIVERSITY may be represented by counsel of its choice in any suit brought by LICENSEE. 
  

	5.3	 Patent Marking. 

LICENSEE shall mark all Licensed Products made, used, sold, offered for sale, or imported under the terms of this Agreement, or their
containers, to the extent required by the applicable patent marking laws. LICENSEE shall be responsible for all monetary and legal liabilities arising from or caused by (a) failure to abide by applicable patent marking laws and (b) any
type of incorrect or improper patent marking. 

 ARTICLE 6. EXPORT CONTROL AND REGISTRATION 

6.1 Governmental Approval or Registration. If this Agreement or any associated transaction is required by the law of any nation to be either approved
or registered with any governmental agency, LICENSEE shall assume all legal obligations to do so. LICENSEE shall notify UNIVERSITY if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval
requirement. LICENSEE shall make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs associated with such reporting or
approval process. 
 6.2 Export Control. LICENSEE shall observe all applicable United States and foreign laws with respect to the transfer of Material
or Licensed Products and related technical data to foreign countries, including, without limitation, the International Traffic in Arms Regulations and the Export Administration Regulations, to the extent applicable. 

6.3 Preference for United States Industry. If LICENSEE sells a Licensed Product in the US, LICENSEE shall manufacture said product substantially in the
US, as required under 35 U.S.C. §§ 204, as applicable, and applicable regulations. The UNIVERSITY will allow and support LICENSEE’s request of a waiver to manufacture outside of the US if LICENSEE decides it is appropriate. 

6.4 Disposition of Material and Licensed Products on Hand. Upon termination or expiration of this Agreement, LICENSEE may dispose of all previously made
or partially made Material or Licensed Product within a period of [***] days of the effective date of such termination or expiration provided that the sale of such Licensed Product by LICENSEE or Affiliates shall be subject to the terms of this
Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreement. 
 ARTICLE 7.
TERMINATION OR EXPIRATION OF THE AGREEMENT 
  

	7.1	 Termination by UNIVERSITY. 

 

	 	(a)	 Subject to Paragraph 7.1(b), UNIVERSITY may terminate this agreement if LICENSEE: 

 

	 	(i)	 is delinquent on any report or payment after providing written notice to cure to LICENSEE;

  

	 	(ii)	 is not diligently developing and commercializing Licensed Product; 

 

	 	(iii)	 misses a diligence milestone described in Exhibit B; 

 

	 	(iv)	 is in breach of any provision; 

 

	 	(v)	 provides any intentional false report; or 

 

	 	(vi)	 files a claim including in any way the assertion that any portion of UNIVERSITY’s Patent Rights is invalid
or unenforceable. 

  

	 	(b)	 Except as otherwise provided by Paragraph 3.3, UNIVERSITY may give written notice of a Default Event
(“Notice of Default”) to LICENSEE. If LICENSEE fails to cure such Default Event within ninety (90) days of the Notice of Default, UNIVERSITY may terminate this Agreement and the License by a second written notice (“Notice of
Termination”) to LICENSEE. If a Notice of Termination is sent to LICENSEE, this Agreement shall automatically terminate on the date of transmission of that notice. 

	7.2	 Termination by LICENSEE. 

 

	 	(a)	 LICENSEE shall have the right at any time and for any reason to terminate this Agreement upon a ninety (90)-day
written notice to UNIVERSITY. 

  

	 	(b)	 Any termination under Paragraph 7.2(a) shall not relieve LICENSEE of any obligation or liability accrued under
this Agreement prior to termination or rescind any payment made to UNIVERSITY or action by LICENSEE prior to the time termination becomes effective. Termination shall not affect in any manner any rights of UNIVERSITY arising under this Agreement
prior to termination. 

 7.3 Survival on Termination or Expiration. The rights and obligations under Paragraphs and Articles 3.1(a)
(license issue fee), 4 (Reports, Records and Payments), 6.4 (Disposition of Material and Licensed Products on Hand), 8 (Limited Warranty and Indemnification), 9 (Use of Names and Trademarks), 10.2 (Secrecy), and 10.5 (Failure to Perform) shall
survive the termination or expiration of this Agreement. 
 ARTICLE 8. LIMITED WARRANTY AND INDEMNIFICATION 

 

	8.1	 No Warranty. 

(a) To the extent of the actual knowledge of the licensing professional responsible for administering this Agreement as of the Effective Date,
the license granted herein is provided “AS IS” and without WARRANTY OF MERCHANTABILITY or WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE or any other warranty, express or implied. UNIVERSITY makes no representation or warranty that the
Material or Licensed Product or the use of Patent Rights will not infringe any other patent or other proprietary rights. Notwithstanding the foregoing, to the knowledge of the licensing professional responsible for administering this Agreement as of
the Effective Date, UNIVERSITY hereby warrants that UNIVERSITY is the sole owner of the Patent Rights; that is has not granted any rights to any third party with respect to the Patent Rights in a manner that is inconsistent with the exclusive
license granted to LICENSEE hereunder; and that it has the lawful right to grant this License. 
 EXCEPT AS SET FORTH IN SECTION 8.2
(INDEMNIFICATION), NEITHER PARTY WILL BE LIABLE FOR ANY LOST PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT OR FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE,
OR OTHER SPECIAL DAMAGES SUFFERED BY LICENSEE, SUBLICENSEES, JOINT VENTURES, OR AFFILIATES ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ALL CAUSES OF ACTION OF ANY KIND (INCLUDING TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY AND BREACH OF
WARRANTY) EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

	 	(b)	 Nothing in this Agreement shall be construed as: 

(i) a warranty or representation by UNIVERSITY as to the validity, enforceability, or scope of any Patent Rights; 

(ii) a warranty or representation that anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or
shall be free from infringement of patents of third parties; 
 (iii) an obligation to bring or prosecute actions or suits against third
parties for patent infringement except as provided in Paragraph 5.2 hereof; 
 (iv) conferring by implication, estoppel or otherwise any
license or rights under any patents of UNIVERSITY other than Patent Rights, or any technology, regardless of whether those patents are dominant or subordinate to Patent Rights; 

(v) an obligation to furnish any know-how not provided in Patent Rights. 

 

	8.2	 Indemnification and Insurance. 

(a) LICENSEE will, and will require Sublicensees to, indemnify, hold harmless, and defend UNIVERSITY and its officers, employees, and agents;
the sponsors of the research that led to the Material and Invention; and inventors of patents or patent applications under Patent Rights, and their employers; in each case, against any and all third party claims, suits, losses, damages, costs, fees,
and expenses resulting from, or arising out of, the exercise of this license or any Sublicense. This indemnification will include, but will not be limited to, any product liability, except to the extent arising from UNIVERSITY’s breach of this
Agreement, gross negligence or willful misconduct. 
 (b) LICENSEE, at its sole cost and expense, shall insure its activities in connection
with the work under this Agreement and obtain, keep in force and maintain insurance as follows: 
 (i) commercial general liability insurance
(contractual liability included) with limits of at least: 
 1. prior to first use in humans: 

(A) each occurrence, [***]; (B) personal and advertising injury, [***]; and (C) general aggregate [***]. If the above insurance is written
on a claims-made form, it shall continue for [***] years following termination or expiration of this Agreement or the commencement of clinical trial obligations as identified in section 8.2(b) (i) (2). The insurance shall have a retroactive date of
placement prior to or coinciding with the Effective Date; 
 2. at initiation of first use in humans: 

(A) each occurrence, [***]; (B) products/completed operations aggregate, [***]; (C) personal and advertising injury, [***]; and
(D) general aggregate [***]). If the above insurance is written on a claims-made form, it shall continue for [***] years following termination or expiration of this Agreement. The insurance shall have a retroactive date of placement prior to or
coinciding with the Effective Date; 

 (ii) Worker’s Compensation as legally required in the jurisdiction in which the
LICENSEE is doing business; and 
 (iii) the coverage and limits referred to above shall not in any way limit the liability of LICENSEE. 

(c) Pursuant to written request, LICENSEE shall furnish UNIVERSITY with certificates of insurance showing compliance with all requirements.
Such certificates shall: (i) provide for [***] days’ advance written notice to UNIVERSITY of any modification; (ii) indicate that UNIVERSITY has been endorsed as an additionally insured party under the coverage referred to above; and
(iii) include a provision that the coverage shall be primary and shall not participate with nor shall be excess over any valid and collectable insurance or program of self-insurance carried or maintained by UNIVERSITY. 

(d) UNIVERSITY shall notify LICENSEE in writing of any claim or suit brought against UNIVERSITY in respect of which UNIVERSITY intends to
invoke the provisions of this Article. LICENSEE shall keep UNIVERSITY informed on a current basis of its defense of any claims under this Article. LICENSEE will not settle any claim against UNIVERSITY without UNIVERSITY’s written consent, such
consent not to be unreasonably delayed or withheld, where (a) such settlement would include any admission of liability or wrongdoing on the part of UNIVERSITY or other indemnified party, (b) such settlement would impose any restriction on
UNIVERSITY/indemnified party’s conduct of any of its activities, or (c) such settlement would not include an unconditional release of UNIVERSITY/indemnified party from all liability for claims that are the subject matter of the settled
claim. 
 ARTICLE 9. USE OF NAMES AND TRADEMARKS 

9.1 Nothing contained in this Agreement confers any right to use in advertising, publicity, or other promotional activities any name, trade name, trademark,
or other designation of UNIVERSITY by LICENSEE without prior written approval by UNIVERSITY (including contraction, abbreviation or simulation of any of the foregoing). Notwithstanding the foregoing, UNIVERSITY hereby grants permission for LICENSEE
to acknowledge that it has obtained an exclusive license from UNIVERSITY under the Patent Rights. Nothing contained herein, shall prevent LICENSEE from identifying UNIVERSITY in any regulatory or securities filing as required by law or regulation.

 9.2 LICENSEE hereby grants permission for UNIVERSITY (including UC SAN DIEGO) to include LICENSEE’s name and a link to LICENSEE’s website in
UNIVERSITY’s and UC SAN DIEGO’s annual reports and on UNIVERSITY’s (including UC SAN DIEGO’s) websites that showcase innovation and commercialization stories. 

ARTICLE 10. MISCELLANEOUS PROVISIONS 

10.1 Correspondence. Any notice or payment required to be given to either party under this Agreement shall be deemed to have been properly given and
effective: 
  

	 	(a)	 on the date of delivery if delivered in person, 

	 	(b)	 [***] days after mailing if mailed by first-class or certified mail, postage paid, to the respective addresses
given below, or to such other address as is designated by written notice given to the other party, or 

  

	 	(c)	 upon confirmation by recognized national overnight courier, confirmed electronic transmission, or confirmed
electronic mail, to the following physical addresses or email address of the parties: 

 If sent to LICENSEE: 

SutroVax, Inc. 
 353 Hatch Drive

 Foster City, California 94404 

Attention: Chief Executive Officer 

Phone: [***] 
 e-mail: gpickering@sutrovax.com 
 with mandatory copy to SutroVax Legal Department 

If sent to UNIVERSITY by mail: 

University of California San Diego 

Office of Innovation and Commercialization 

9500 Gilman Drive, Mail Code 0910 

La Jolla, CA 92093-0910 

Attention: Director 
 If sent to
UNIVERSITY by overnight delivery 
 University of California San Diego 

Office of Innovation and Commercialization 

10300 North Torrey Pines Road 

Torrey Pines Center North, Third Floor 

La Jolla, CA 92037 
 Attention:
Director 
  

	10.2	 Secrecy. 

(a) “Confidential information” shall mean information relating to the Invention and disclosed by UNIVERSITY to LICENSEE during the
term of this Agreement, which if disclosed in writing shall be marked “Confidential”, or if first disclosed otherwise, shall within [***] days of such disclosure be reduced to writing by UNIVERSITY and sent to LICENSEE. 

(b) LICENSEE shall, with respect to confidential information of UNIVERSITY 

(i) use the Confidential Information for the sole purpose of performing under the terms of this Agreement; 

(ii) safeguard Confidential Information against disclosure to others with the same degree of care as it exercises with its own data of a
similar nature; 

 (iii) not disclose Confidential Information to others (except to its employees, agents or
consultants who are bound by a like obligation of confidentiality) without the express written permission of the other party, except that shall not be prevented from using or disclosing any of the Confidential Information that: 

(A) LICENSEE can demonstrate by written records was previously known to it; 

(B) is now, or becomes in the future, public knowledge other than through acts or omissions of LICENSEE; 

(C) is lawfully obtained by LICENSEE from sources independent of UNIVERSITY; or 

(D) is required to be disclosed by law or a court of competent jurisdiction 

(c) The secrecy obligations of LICENSEE with respect to Confidential Information in this Paragraph 10.2 shall continue for a period ending
[***] years from the expiration or termination date of this Agreement. 
 (d) Notwithstanding the foregoing, UNIVERSITY may disclose to the
Inventors, senior administrators employed by UNIVERSITY, and individual Regents the terms and conditions of this Agreement upon their request If such disclosure is made, UNIVERSITY shall request that the individuals not disclose such terms and
conditions to others. UNIVERSITY may acknowledge the existence of this Agreement and the extent of the grant in Article 2 to third parties, but UNIVERSITY shall not disclose the negotiable financial terms of this Agreement to third parties, except
where UNIVERSITY is required by law to do so, such as under the California Public Records Act. 
 (e) Notwithstanding the foregoing, LICENSEE
may disclose confidential information of UNIVERSITY to its actual and potential Sublicensees and may disclose the terms of this Agreement to third parties in connection with due diligence investigations of the LICENSEE, provided that such parties
are bound by a duty of confidentiality on terms consistent with those found in this Paragraph 10.2. 
 10.3 Assignability. This Agreement may be
assigned by UNIVERSITY, but is personal to LICENSEE and assignable by LICENSEE only with the written consent of UNIVERSITY, which shall not be unreasonably withheld or delayed; provided that, LICENSEE may assign this Agreement or any rights and
obligations hereunder without the written consent of UNIVERSITY to: (i) an Affiliate of LICENSEE and a payment of an assignment fee of [***], but only after [***], or (ii) a purchaser of all or substantially all of LICENSEE’s assets
or business in connection with Licensed Product, including by way of acquisition, merger, consolidation, stock sale, asset sale or other form of reorganization. Within [***] days of an assignment of this Agreement by LICENSEE to a purchaser of all
or substantially all of LICENSEE’s assets or business pursuant to Paragraph 10.3(ii) LICENSEE shall make a one-time cash milestone payment to UNIVERSITY, in accordance with the following scale: (a) [***]
USD, if the aggregate proceeds actually received by LICENSEE from such purchase is less than or equal to [***] USD; (b) [***] USD, if the aggregate proceeds actually received by LICENSEE from such purchaser is greater than [***] but less than [***];
and (c) [***], if the aggregate proceeds actually received by LICENSEE from such purchaser is greater than [***] USD. 
 10.4 No Waiver. No waiver by
either party of any breach or default of any agreement set forth in this Agreement shall be deemed a waiver as to any subsequent and/or similar breach or default. 

 10.5 Failure to Perform. In the event of a failure of performance due under this Agreement and if it
becomes necessary for either party to undertake legal action against the other on account thereof, then the prevailing party shall be entitled to reasonable attorneys’ fees in addition to costs and necessary disbursements. 

10.6 Governing Laws. THIS AGREEMENT SHALL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, but the scope and
validity of any patent or patent application shalt be governed by the applicable laws of the country of the patent or patent application. 
 10.7 Force
Majeure. A party to this Agreement may be excused from any performance required herein if such performance is rendered impossible or unfeasible due to any catastrophe or other major event beyond its reasonable control, including, without
limitation, war, riot, and insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes, lockouts, or other serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the non-performing party’s obligations herein shall resume. 
 10.8 Headings. The headings of the several sections
are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 10.9
Entire Agreement. This Agreement, including Exhibits A and B, embodies the entire understanding of the parties and supersedes all previous communications, representations or understandings, either oral or written, between the parties relating
to the subject matter hereof. 
 10.10 Amendments. No amendment or modification of this Agreement shall be valid or binding on the parties unless made
in writing and signed on behalf of each party. 
 10.11 Severability. In the event that any of the provisions contained in this Agreement is held to
be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if the invalid, illegal, or unenforceable
provisions had never been contained in it. 
 Signature page follows 

									
	SUTROVAX, INC.:	  	 
 

    
	  	 THE REGENTS OF THE

UNIVERSITY OF CALIFORNIA:

					
	By:	 	 /s/ Grant E. Pickering
	  		  	By:	  	 /s/ David G. Gibbons

		 	(Signature)                            	  		  		  	(Signature)                            
	Name:	 	 Grant E. Pickering
	  		  	David G. Gibbons
	Title:	 	President & CEO	  		  	Assistant Director
	Date:	 	February 4, 2019	  		  	Date:	  	Feb 1, 2019

 Exhibit A – Due Diligence for Licensed Products 

LICENSEE will accomplish the following: 
 [***] 

The parties agree that should one of the milestones be delayed due to product development challenges and/or regulatory delays [***] any subsequent milestones
will be based on completion of the prior milestone. LICENSEE shall inform UNIVERSITY within [***] days should milestones need to be extended [***] and the parties agree [***].

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