Document:

EX-10.15

 Exhibit 10.15 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant
to Rule 406 of the Securities Act of 1933, as amended. 
 AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT 

between 
 THE REGENTS OF THE
UNIVERSITY OF CALIFORNIA 
 and 

PRINCIPIA BIOPHARMA INC. 
 for

 Inverted Kinase Inhibitors 

OTM Case No. SF2011-045 

 TABLE OF CONTENTS 

(continued) 
  

  

							
	            Article No.                 Title	  	Page	 
			
		 	 BACKGROUND
	  	 	1	 
			
		 	 DEFINITIONS
	  	 	3	 
			
		 	 GRANT
	  	 	10	 
			
		 	 SUBLICENSES
	  	 	11	 
			
		 	 PAYMENT TERMS
	  	 	13	 
			
		 	 AMENDMENT ISSUE FEE
	  	 	15	 
			
		 	 LICENSE MAINTENANCE FEE
	  	 	16	 
			
		 	 INDEXED MILESTONE PAYMENT
	  	 	16	 
			
		 	 PAYMENTS ON SUBLICENSES
	  	 	17	 
			
		 	 EARNED ROYALTIES
	  	 	17	 
			
		 	 MILESTONE PAYMENTS
	  	 	18	 
			
		 	 DUE DILIGENCE
	  	 	19	 
			
		 	 PROGRESS AND ROYALTY REPORTS
	  	 	21	 
			
		 	 BOOKS AND RECORDS
	  	 	23	 
			
		 	 LIFE OF THE AGREEMENT
	  	 	24	 
			
		 	 TERMINATION BY THE REGENTS
	  	 	25	 
			
		 	 TERMINATION BY LICENSEE
	  	 	25	 
			
		 	 DISPOSITION OF LICENSED PRODUCT AND LICENSED SERVICES UPON TERMINATION OR EXPIRATION
	  	 	25	 
			
		 	 USE OF NAMES AND TRADEMARKS
	  	 	26	 
			
		 	 LIMITED WARRANTY
	  	 	27	 
			
		 	 LIMITATION OF LIABILITY
	  	 	28	 
			
		 	 PATENT PROSECUTION AND MAINTENANCE
	  	 	28	 
			
		 	 PATENT MARKING
	  	 	30	 
			
		 	 PATENT INFRINGEMENT
	  	 	30	 
			
		 	 INDEMNIFICATION
	  	 	32	 
			
		 	 NOTICES
	  	 	34	 
			
		 	 ASSIGNABILITY
	  	 	35	 
			
		 	 WAIVER
	  	 	36	 
			
		 	 FORCE MAJEURE
	  	 	36	 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	        Article No.                 Title	  	Page	 
			
		  	 GOVERNING LAWS; VENUE
	  	 	36	 
			
		  	 GOVERNMENT APPROVAL OR REGISTRATION
	  	 	37	 
			
		  	 COMPLIANCE WITH LAWS
	  	 	37	 
			
		  	 CONFIDENTIALITY
	  	 	37	 
			
		  	 MISCELLANEOUS
	  	 	39	 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-ii- 

 AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT 

for 
 “Inverted Kinase
Inhibitors” 
 This Amended and Restated Exclusive License Agreement (“Agreement”) is made effective this 5th day of December, 2013 (“Amendment Effective Date”), by and between The Regents of the University of California, a California corporation, having its statewide administrative offices at
1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting through its Office of Innovation, Technology, and Alliances, University of California San Francisco (“UCSF”), 3333 California Street,
Suite S-11, San Francisco, California 94143, and Principia Biopharma Inc., a Delaware corporation, having a principal place of business at 400 East Jamie Court, Suite 302, South San Francisco, California 94080
(“Licensee”). The Regents and Licensee may be referred to herein individually as a “Party”, and collectively as the “Parties”. 

BACKGROUND 
 A. The Parties
previously entered into that certain Exclusive License Agreement, dated November 7, 2009, and amended such agreement on October 14, 2010, February 9, 2011 and September 30, 2011 (as amended, the “Initial Agreement”).

 B. Certain inventions, generally characterized as “Inverted Kinase Inhibitors” (OTM Case No.
SF2011-045) (the “Invention”), were made in the course of research at UCSF by Dr. Jack Taunton, an employee of the Howard Hughes Medical Institute (“HHMI”) and a faculty member at
UCSF, and research at Licensee’s offices by Kenneth Brameld, previously a consultant and currently an employee of Licensee, (collectively, the “Inventors”) and are claimed in Patent Rights as defined below. 

C. The development of the Invention by employees of UCSF was sponsored in part by the National Institutes of Health and, as a consequence, this
license is subject to overriding obligations to the United States Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations including a
non-exclusive, non-transferable, irrevocable, paid-up license to practice or have practiced the Invention for or on behalf of the
United States Government throughout the world. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

1 

 D. HHMI assigned its rights in the Invention to The Regents under the terms of the
interinstitutional agreement with HHMI having UC Control No. 1986-18-0017 (“HHMI Interinstitutional Agreement”), and accordingly, The Regents has the
authority to license the entire interest in the Invention and any patent rights claiming the Invention. Under the terms of the HHMI Interinstitutional Agreement, HHMI has reserved nonexclusive, paid-up,
royalty-free, irrevocable licenses, with no right to sublicense others, to make and use the Invention for research purposes. 
 E. The
Licensee wishes to obtain certain rights from The Regents for the commercial development of the Invention, in accordance with the terms and conditions set forth herein, and The Regents is willing to grant those rights so that the Invention may be
developed and the benefits enjoyed by the general public. 
 F. The scope of such rights granted by The Regents is intended to extend to the
scope of the patents and patent applications in Patent Rights, but only to the extent that The Regents has proprietary rights in and to the Valid Claims of such Patent Rights. 

G. The Licensee, as of the Effective Date, is a “small business firm” as defined in 15 U.S.C. §632. 

H. Both parties recognize and agree that Earned Royalties are due under this Agreement with respect to products, services and methods and that
such royalties will be paid with respect to both pending patent applications and issued patents, in accordance with the terms and conditions set forth herein, it being understood that if royalties are paid under the Initial Agreement for any
product, service or method subject to this Agreement, Earned Royalties will not be due under this Agreement for such product, service or method. 

I. Both parties recognize and agree that Earned Royalties due under this Agreement will be based on the Licensee’s or a Sublicensee’s
last act of infringement of Patent Rights within the control of the Licensee or a Sublicensee, regardless of whether the Licensee or a Sublicensee had control over prior infringing acts; the parties intend that Earned Royalties due under this
Agreement will be calculated based on the Net Sales of the product or service resulting from the last act of infringement by the Licensee and its Sublicensees. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

2 

 J. The Parties entered into an Exclusive License Agreement (the “Original Agreement”),
dated September 30, 2011 (the “Original Effective Date”), under which The Regents granted Licensee exclusive license rights under the Invention and the Patent Rights, subject to the terms thereof. The Licensee and The Regents now
desire to amend the Original Agreement and restate (and thereby replace and supersede) the Original Agreement in its entirety with this Agreement. 

— oo 0 oo — 

Therefore, the Parties agree as follows: 

DEFINITIONS 
 As used in this Agreement, the
following terms, whether used in the singular or plural, shall have the following meanings: 
 1.1 “Affiliate” of the Licensee
means any entity which, directly or indirectly, Controls the Licensee, is Controlled by the Licensee or is under common Control with the 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 fifty percent (50%) of the voting rights entitled to elect directors of such entity; 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 of such entity or voting rights of such entity as permitted by local law. 

1.2 “Attributed Income” means the total gross proceeds (exclusive of Earned Royalties of Sublicensees, but including, without
limitation, any license fees, maintenance fees, or milestone payments), whether consisting of cash or any other form of consideration to which a fair market value can be assigned and whether any rights other than Patent Rights are granted, which
gross proceeds are received by or payable to the Licensee, any Affiliate and/or Joint Venture, from any Sublicensee in consideration of the grant of a sublicense under the license granted by The Regents in Section 2.1. Notwithstanding the
foregoing, Attributed Income shall not include proceeds attributed in such sublicense or such agreement, arrangement or other relationship to bona fide (i) debt financing; (ii) equity (and conditional equity, such as warrants, convertible
debt and the like) investments in the Licensee or any Affiliate up to [*] of the fair market value; (iii) reimbursements of Patent Prosecution Costs actually incurred by the Licensee; 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

3 

 
and (iv) research and/or development fees received by or payable to Licensee from Sublicensee as reimbursement or advance payment for bona fide costs of ongoing and/or future research and/or
development services or activities to be undertaken by Licensee under such sublicense directly related to this Agreement, and provided at or below applicable industry standard rates for such services or activities within the same industry. For the
avoidance of doubt, any gross proceeds meeting the definition set forth above in this Paragraph 1.2 shall be “Attributed Income” irrespective of whether such gross proceeds are received under one or more separate agreements and
irrespective of how such gross proceeds are referred to or characterized by the Licensee or the Sublicensee; provided that any amounts received by the Licensee in consideration for both the grant of a sublicense under the Patent Rights and a license
under other patents or know-how owned or controlled by the Licensee (including any patents licensed under the Initial Agreement) shall be allocated by mutual agreement between The Regents and Licensee, such
agreement not to be unreasonably withheld, among the Patent Rights and all other such patents and know-how licensed, and only the portion allocated to the Patent Rights shall be Attributed Income under this
Agreement. 
 1.3 “Earned Royalty” means the Royalty (as defined in Paragraph 9.1). 

1.4 “Field of Use” means all fields and all uses. 

1.5 “Indexed Milestone Payment” is defined in Paragraph 7.1. 

1.6 “Joint Venture” means any entity which, directly or indirectly, owns or is owned by, Licensee but at an ownership level below
that set forth in the definition of Affiliate under Section 1.1, which entity has been granted a sublicense to manufacture, use, purchase, Sell or acquire Licensed Products from the Licensee. 

1.7 “Licensed Method” means any process, art or method the use or practice of which, but for the license granted in this Agreement,
would infringe any Patent Rights in any country were they issued at the time of the infringing activity in that country. 
 1.8
“Licensed Product(s)” means any Product, including, without limitation, a Product for use or used in practicing a Licensed Method and any Product made by practicing a Licensed Method, the manufacture, use, Sale, offer for Sale or import of
which, but for the license granted in this Agreement, would infringe any Patent Rights in any country were they issued at the time of the infringing activity in that country. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

4 

 1.9 “Licensed Service” means any service provided for consideration (whether in cash or
any other form of consideration to which a fair market value can be assigned), when such service (i) involves the use of a Licensed Product; or (ii) involves the practice of a Licensed Method. 

1.10 “Net Invoice Price” means the gross invoice price charged by (or, where no such price is charged, the value of any other
consideration owed to) the Licensee or any Sublicensee for a Licensed Product, Licensed Method or Licensed Service, less the following items, but only to the extent that they actually pertain to the disposition of such Licensed Product or Licensed
Service, are included in the gross invoice price charged or other form of consideration owed to which a fair market value can be assigned, and are identified separately on a bill or invoice: 

 

	 	1.10.1	 Allowances actually granted to customers for rejections, returns and prompt payment and volume discounts;

  

	 	1.10.2	 Freight, transport packing and insurance charges associated with transportation; 

 

	 	1.10.3	 Taxes, including Deductible Value Added Tax, tariffs or import/export duties based on Sales when included in
the gross invoice price, but excluding value-added taxes other than Deductible Value Added Tax or taxes assessed on income derived from Sales. “Deductible Value Added Tax” means only the portion of the value added tax that is actually
incurred and is not reimbursable, refundable or creditable under the tax authority of any country; 

  

	 	1.10.4	 Normal and customary discounts and rebates given as a part of a formulary program that are paid or credited to
customers, third-party payers, healthcare systems, or administrators for a Licensed Product or Licensed Service that is included in such formulary program, as permitted by applicable law; 

 

	 	1.10.5	 Normal and customary wholesaler’s discounts and rebates given as a part of a formulary program that are
paid or credited to customers, third-party payers, health care systems, or administrators for a Licensed Product or Licensed Service that is included in such formulary program, as permitted by applicable law; and 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

5 

	 	1.10.6	 Rebates and discounts paid or credited pursuant to applicable law. 

In those instances where the Licensed Product, Licensed Method or Licensed Service is combined in any manner with any other Product or service, Net Sales
shall be calculated as: 
 A/(A+B) x [Net Sales, calculated without regard to this formula, of the combination], where “A” is the
average invoice price in the country of sale of the Licensed Product, Licensed Method or Licensed Service when Sold separately, and “B” is the average invoice price in the country of sale of each other Product or service contained within
or used in the combination when Sold separately. If either the Licensed Product, Licensed Method or License Service or other Product or service is not sold separately, then Net Sales for such Sale shall be calculated by multiplying the Net Sales of
the combination, calculated without regard to this formula, by a fraction that represents the market value that the Licensed Product contributes to the total value of the combination, as determined by the parties in good faith. 

1.11 “Net Sale” means: 
  

	 	1.11.1	 except in the instances described in Paragraphs 1.11.2, 1.11.3 and 1.11.4, the Net Invoice Price;

  

	 	1.11.2	 for any Relationship-Influenced Sale of a Licensed Product or Licensed Service, Net Sales shall be based on the
highest of either (i) the Net Invoice Price at which the Relationship-Influenced Sale Purchaser re-Sells such Licensed Product or Licensed Service or (ii) the Net Invoice Price paid for the Licensed
Product or Licensed Service by the Relationship-Influenced Sale Purchaser; 

  

	 	1.11.3	 in those instances where Licensed Product or Licensed Service is not Sold, but is otherwise exploited, the Net
Sales for such Licensed Product or Licensed Service shall be the Net Invoice Price of such Licensed Product or Licensed Service currently being offered for Sale by the Licensee or any Sublicensee. Where such Licensed Product or Licensed Service is
not currently Sold or offered for Sale by the Licensee or any Sublicensee, the Net Sales for Licensed Product or Licensed Service otherwise exploited, for the purpose of computing royalties, shall be the average Net Invoice

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

6 

	 	
Price at which products or services of the same or similar kind and quality, Sold in similar quantities, are then currently being offered for Sale by other manufacturers. Where such products or
services are not currently Sold or offered for Sale by the Licensee or any Sublicensee, or others, then the Net Sales shall be the Licensee’s or any Sublicensee’s cost of manufacture of Licensed Product or the cost of conducting the
Licensed Service, determined according to Generally Accepted Accounting Principles (“GAAP”), [*]; and 

  

	 	1.11.4	 for a Re-Sale or Exploitation, Net Sales shall mean the Net Invoice
Price upon the Re-Sale or Exploitation of a Licensed Product or Licensed Service. 

 Net Sales
shall not include any amount for the disposition of Licensed Product in reasonable quantities for (a) conducting clinical trials to obtain regulatory approval to commercialize such Licensed Product, (b) samples (promotional or otherwise),
or (c) donations (for example, to non-profit institutions or government agencies for a non-commercial purpose) or patient assistance or compassionate use programs.

 1.12 “New Developments” means inventions, or claims to inventions, owned or otherwise controlled by The Regents which constitute
advancements, developments or improvements, whether or not patentable and whether or not the subject of any patent application, which are not sufficiently supported by the specification of a previously-filed patent or patent application within the
Patent Rights to be entitled to the priority date of the previously-filed patent or patent application. 
 1.13 “Patent Prosecution
Costs” is defined in Paragraph 21.4. 
 1.14 “Patent Rights” means the Valid Claims of, to the extent assigned to or otherwise
obtained by The Regents, the following United States patents and patent applications: 
  

					
	 OTM Case Number
	  	United States Patent or
Application Number	 	Filing Date
	
SF2011-045-1
	  	[*]	 	[*]
	
SF2011-045-2
	  	[*]	 	[*]
	
SF2011-045-3
	  	[*]	 	[*]

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

7 

 Patent Rights shall further include the Valid Claims of, to the extent assigned to or otherwise obtained by The
Regents, the foreign patents and patent applications (requested under Paragraph 21.5 herein) corresponding to the foregoing, and any and all reissues, certificates of reexamination, extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those Valid Claims in the continuation-in-part
applications that are entirely supported in the specification and entitled to the priority date of the parent application) corresponding to the foregoing patents and applications, and foreign equivalents of any of the foregoing. This definition of
Patent Rights excludes any rights in and to New Developments. 
 1.15 “Product” means any kit, article of manufacture, composition
of matter, material, compound, component or product. 
 1.16 “Re-Sale or Exploitation”
means those instances where a Sublicensee acquires a Licensed Product or Licensed Service (from Licensee or another Sublicensee) and then subsequently Sells or otherwise exploits such Licensed Product or Licensed Service. 

1.17 “Related Party” means a corporation, firm or other entity with which, or individual with whom, the Licensee or any Sublicensee
(or any of its respective stockholders, subsidiaries or Affiliates) have any agreement, understanding or arrangement (for example, but not by way of limitation, an option to purchase stock or other equity interest, or an arrangement involving a
division of revenue, profits, discounts, rebates or allowances) without which such other agreement, understanding or arrangement, the amounts, if any, charged by the Licensee or any Sublicensee to such entity or individual for the Licensed Product
or Licensed Service, would be higher than the Net Invoice Price actually received, or if such agreement, understanding or arrangement results in the Licensee or any Sublicensee extending to such entity or individual lower prices for such Licensed
Product or Licensed Service than those charged to others without such agreement, understanding or arrangement buying similar products or services in similar quantities. 

1.18 “Relationship-Influenced Sale” means a Sale of a Licensed Product or Licensed Service, or any exploitation of the Licensed
Product or Licensed Method, between the Licensee or any Sublicensee and (i) an Affiliate; (ii) a Joint Venture; (iii) a Related Party or (iv) the Licensee, or a Sublicensee. 

1.19 “Relationship-Influenced Sale Purchaser” means the purchaser of Licensed Product or Licensed Service in a
Relationship-Influenced Sale. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

8 

 1.20 “Sale” means the act of selling, leasing or otherwise transferring, providing, or
furnishing for use for any consideration to which a fair market value can be assigned. Correspondingly, “Sell” means to make or cause to be made a Sale and “Sold” means to have made or caused to be made a Sale. 

1.21 “Service Income” means Net Sales with respect to Licensed Services. Service Income shall not include, and is excluded from,
Attributed Income. 
 1.22 “Sublicensee” means any person or entity (including any Affiliate or Joint Venture) to which any of the
license rights granted to the Licensee hereunder are sublicensed. 
 1.23 “Sublicense Fee” is defined in Paragraph 8.1. 

1.24 “T2 Licensed Products” means all products which meet the definition of Licensed Products (as defined in the Initial Agreement)
under the Initial Agreement, but which do not meet the definition of Licensed Products under this Agreement. 
 1.25 “T2/T3 Licensed
Products” means all Licensed Products under this Agreement which also meet the definition of Licensed Products (as defined in the Initial Agreement) under the Initial Agreement. 

1.26 “T3 Licensed Products” means all Licensed Products under this Agreement which do not meet the definition of Licensed Products
(as defined in the Initial Agreement) under the Initial Agreement. 
 1.27 “Therapeutic Licensed Product” means a Licensed Product
that is used to prevent, treat or cure one or more diseases and/or conditions. 
 1.28 “Third Party Compound” means any Licensed
Product consisting of a compound identified and developed either by the Licensee, or by a third party and provided by such third party to Licensee for further development by Licensee, containing electrophile group platform technology covered by the
Patent Rights licensed to Licensee under this Agreement. For avoidance of doubt, any compounds identified and developed by Dr. Jack Taunton or a member of his laboratory at UCSF will not be considered “Third Party Compounds.” 

1.29 “Valid Claim” means a claim of a patent or patent application in any country that (i) has not expired; (ii) has not
been disclaimed; (iii) has not been cancelled or superseded or, if cancelled or superseded, has been reinstated; and (iv) has not been revoked, held invalid, or otherwise declared unenforceable or not allowable by a tribunal or patent
authority of competent jurisdiction over such claim in such country from which no further appeal has or may be taken. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

9 

	2.	 GRANT 

2.1 Subject to the limitations and other terms and conditions set forth in this Agreement including the license granted to the United States
Government and those reserved by HHMI set forth in the Background and in Paragraph 2.3.1, The Regents grants to the Licensee a license under its rights in and to Patent Rights to make, use, Sell, offer for Sale and import Licensed Products and
Licensed Services and to practice Licensed Methods, in the United States and in other countries where The Regents may lawfully grant such licenses, only in the Field of Use. 

2.2 Except as provided in Paragraphs 2.3.1, 2.3.2 and 2.3.3 of this Agreement, the license granted under the Patent Rights in Paragraph 2.1 is
exclusive with respect to The Regents’ interest in the Patent Rights, it being understood that Licensee possesses an undivided interest in and to the Patent Rights outside the United States and in and to certain aspects of the Invention. 

2.3 The license granted in Paragraphs 2.1 is subject to the following: 

 

	 	2.3.1	 The obligations to the United States Government under 35 U.S.C. §§
200-212 and all applicable governmental implementing regulations, as amended from time to time, including the obligation to report on the utilization of the Invention as set forth in 37 CFR. § 401.14(h),
and all applicable provisions of any license to the United States Government executed by The Regents; and 

  

	 	2.3.2	 the paid-up, non-exclusive,
irrevocable licenses reserved by HHMI to make and use the Invention for its research purposes. Such licenses reserved by HHMI specified in the recitals and the immediately prior sentence do not include the right to sublicense others; and

  

	 	2.3.3	 the National Institutes of Health “Principles and Guidelines for Recipients of NIH Research Grants and
Contracts on Obtaining and Disseminating Biomedical Research Resources,” 64 F.R. 72090 (Dec. 23, 1999), as amended from time to time) and HHMI’s statement of policy on research tools. Note: HHMI’s policy can be found at
http://www.hhmi.org/about/research/policies.html#sharing 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

10 

 2.4 The Regents reserves and retains the right (and the rights granted to the Licensee in this
Agreement shall be limited accordingly) to make, use and practice the Invention, and any technology owned by The Regents relating to the Invention and to make and use any Products and to practice any process that is the subject of the Patent Rights
(and to grant any of the foregoing rights to other educational and non-profit institutions) for educational and research purposes, including without limitation, any sponsored research performed for or on
behalf of commercial entities and including publication and other communication of any research results. The Regents agrees to inform any commercial entities seeking the use of any such Patent Rights of the existence of this Agreement. Any transfer
of tangible materials covered by the Patent Rights shall be pursuant to a materials transfer agreement similar in form and substance to Appendix B, and a copy of such material transfer agreement will be provided to Licensee by The Regents after
execution. For the avoidance of doubt, to the extent the Invention, any biological materials and any technology relating to any of the foregoing are not the subject of the exclusive license under the Patent Rights granted to the Licensee hereunder,
The Regents shall be free to make, use, Sell, offer to Sell, import, practice and otherwise commercialize and exploit (including to transfer, license to, or have exercised by, third parties) for any purpose whatsoever and in its sole discretion,
such Invention, technology and any Products or processes that are the subject of any of the foregoing. 
 2.5 Because the Invention was made
under funding provided by the United States Government, Licensed Products, the Invention, and any products embodying the Invention sold in the United States will be substantially manufactured in the United States, unless the Licensee obtains a
waiver of such requirement from the NIH under 35 U.S.C. § 204. 
  

	3.	 SUBLICENSES 

3.1 The Regents also grants to the Licensee the right to sublicense to third parties (including to Affiliates and Joint Ventures) the rights
granted to the Licensee hereunder, with the right to further sublicense as provided below, as long as the Licensee has current exclusive rights thereto under this Agreement. Each Sublicensee must be subject to a written sublicense agreement. Each
and every sublicense will include all of the rights of, and will require the performance of all the obligations due to, The Regents and HHMI (and, if applicable, the United States Government and other sponsors), other than those rights and
obligations specified in Article 5 (Indexed Milestone Payment), and Paragraphs 21.4 and 21.6 (reimbursement of Patent Prosecution Costs). Licensee may grant its Sublicensee the further right to grant sublicense rights under any of the rights granted
by The Regents to Licensee hereunder but only to the 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

11 

 
extent needed for the research, development (including for the purposes of conducting pre-clinical and clinical trials, and seeking regulatory approval for
commercialization), manufacture and/or commercialization of Licensed Product and/or Licensed Methods; provided that each and any such further Sublicensees shall be bound by the terms of this Agreement. For the avoidance of doubt, Affiliates and
Joint Ventures shall have no licenses under this Agreement unless such Affiliates and Joint Ventures are granted a sublicense, and the Licensee will not enter into any research or development arrangements for Licensed Products or Licensed Services
with any third party without granting it a sublicense, if a sublicense is required to conduct the applicable activities. For the purposes of this Agreement, the operations of all Sublicensees with respect to the exploitation of the Patent Rights
shall be deemed to be the operations of the Licensee, for which the Licensee shall be responsible. 
 3.2 In the event that The Regents and
the Licensee each own an undivided interest in any Patent Rights licensed hereunder, the Licensee will not separately grant a license to any third party under its rights without concurrently granting a license under The Regents’ rights on the
terms and conditions described in this Article 3 (Sublicenses). 
 3.3 The Licensee will notify The Regents of each sublicense granted
hereunder and will provide The Regents with a complete copy of each sublicense, which may be redacted of any terms not necessary for The Regents to confirm compliance with the terms of this Agreement or Sublicense Fees paid by the Licensee (along
with a summary of the material terms of each such sublicense) and each amendment to such sublicense within thirty (30) days of issuance of such sublicense or such amendment. The Licensee will collect from Sublicensees and pay to The Regents all
fees, payments, royalties and the cash equivalent of any consideration due The Regents under the terms of this Agreement. The Licensee will guarantee all monies due The Regents from Sublicensees under the terms of this Agreement. For clarity, if the
Licensee grants a sublicense that contains a provision for payment of royalties by any Sublicensee in an amount that is less than the Royalty required to be paid under Paragraph 9.1 below, then the Licensee will pay to The Regents a total amount
equal to the Royalty based on the Sublicensees’ Net Sales as provided for in Paragraph 9.1. The Licensee will require Sublicensees to provide it with copies of all progress reports and royalty reports in accordance with the provisions herein
and the Licensee will collect and deliver all such reports due The Regents from Sublicensees under the terms of this Agreement. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

12 

 3.4 If Licensee licenses patent rights assigned to or otherwise acquired by it
(“Licensee’s Patent Rights”), and it believes, in good faith, that the recipient of such license will infringe Patent Rights in practicing the Licensee’s Patent Rights, then the Licensee will not separately grant a license to
such recipient under Licensee’s Patent Rights without concurrently granting a sublicense under Patent Rights on the terms required under this Agreement. 

3.5 Upon any termination of this Agreement for any reason, all sublicenses granted by Licensee shall survive termination as direct licenses
from The Regents to the Sublicensees; provided that The Regents will not be bound by any grant of rights broader than, and will not be required to perform any obligation other than, those rights and obligations contained in this Agreement; and
provided further, that at such time such Sublicensee is not in breach of any of its obligations under the sublicense granted to it by Licensee. Moreover, The Regents will have the sole right to modify each such surviving license to include all of
the rights of The Regents (and, if applicable, the United States Government and other sponsors) that are contained in this Agreement, including the payment of Earned Royalties, directly to The Regents by the Sublicensee as if it were the Licensee at
the rate with respect to Earned Royalties set forth in this Agreement. 
  

	4.	 PAYMENT TERMS 

4.1 Paragraphs 1.7, 1.8, 1.9 and 1.14 define Licensed Method, Licensed Product, Licensed Service and Patent Rights, so that Earned Royalties
are payable on products and methods covered by both pending patent applications and issued patents. Earned Royalties will accrue in each country for the duration of Patent Rights in that country and will be payable to The Regents when Licensed
Products or Licensed Services are invoiced, or if not invoiced, when delivered or otherwise exploited by the Licensee or Sublicensee in a manner constituting a Net Sale as defined in Paragraph 1.11. Sublicense Fees with respect to any Attributed
Income shall accrue to The Regents [*]. If Licensee is unable for any reason to make such payment, the parties agree to discuss the matter in good faith to arrange for payment under terms reasonably acceptable to The Regents before the provisions of
Article 14 (Termination by The Regents) of the Agreement will apply. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

13 

 4.2 The Licensee will pay to The Regents all Sublicense Fees pursuant to Paragraph 8, Earned
Royalties pursuant to Paragraph 9, and Milestone Payments pursuant to Paragraph 10 payable to The Regents [*]. Each payment for Sublicense Fees, Earned Royalties, Sublicense Fees and Milestone Payments will be for amounts which have accrued [*].

 4.3 All consideration due The Regents will be payable and will be made in United States dollars by check payable to “The Regents of
the University of California” or by wire transfer to an account designated by The Regents. The Licensee is responsible for all bank or other transfer charges. When Licensed Products or Licensed Services are Sold for monies other than United
States dollars, the Earned Royalties and other consideration will first be determined in the currency of the country in which such Licensed Products or Licensed Services were Sold and then converted into equivalent United States dollars. The
exchange rate used with respect to any foreign currency will be the average exchange rate quoted in The Wall Street Journal for the purchase of United States dollars during the last thirty (30) days of the reporting period. 

4.4 Sublicense Fees and Earned Royalties accrued in any country outside the United States may be reduced by any taxes, fees or other charges
imposed by the government of such country (“withholding taxes”), except as and to the extent the Licensee is able to avail itself of a tax credit for such withholding taxes in the year in which such amounts were paid. 

4.5 Notwithstanding the provisions of Article 26 (Force Majeure) if at any time legal restrictions prevent the prompt remittance of Earned
Royalties or other consideration owed to The Regents by the Licensee with respect to any country where a sublicense is granted or a Licensed Product or Licensed Service is Sold or otherwise exploited, then the Licensee shall convert the amount owed
to The Regents into United States dollars as described in Paragraph 4.3, and will pay The Regents directly from another source of funds in order to remit the entire amount owed to The Regents. 

4.6 In the event that any patent or claim thereof included within the Patent Rights is held invalid in a final decision by a court of competent
jurisdiction and last resort and from which no appeal has or can be taken, then all obligation to pay royalties based on that patent or claim or any claim patentably indistinct therefrom will cease as of the date of final decision. The Licensee will
not, however, be relieved from paying any Earned Royalties that accrued before such final decision and the Licensee shall be obligated to pay the full amount of such Earned Royalties due hereunder to the extent that the Licensee is licensed by The
Regents under one or more Valid Claims within the Patent Rights with respect to Licensed Products or Licensed Services. If in a given country the only Valid Claims that claim a Licensed Method or Licensed

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

14 

 
Product are in a patent application that has been pending for more than [*], then Licensee shall have no obligations to pay Earned Royalties based on Net Sales in such country; provided, however,
that if any such claims subsequently issue in such country, then the Licensee shall, with its next royalty payment, pay all Earned Royalties for Net Sales that occurred in such country between the end of such [*] period and patent issuance plus
interest on such payment at a rate equal to the sum of [*] plus the prime rate of interest quoted in the Money Rates section of The Wall Street Journal (online edition found at http://www.interactive.wsj.com) calculated daily on the basis of
a 365-day year, or similar reputable data source, or, if lower, the highest rate permitted under applicable Laws. 

4.7 No Earned Royalties will be collected or paid hereunder to The Regents on Licensed Products or Licensed Services Sold to, or otherwise
exploited for, the account of the United States Government as provided for in the license to the United States Government. The Licensee and its Sublicensees will reduce the amount charged for Licensed Products or Licensed Services Sold to, or
otherwise exploited for, the United States Government by an amount equal to the Earned Royalty for such Licensed Products or Licensed Services that otherwise would have been due The Regents. Such reduction in Earned Royalties will be in addition to
any other reductions in price required by the United States Government. 
 4.8 In the event that Sublicense Fees, Earned Royalties and
Milestone Payments, or reimbursements for Patent Prosecution Costs, owed to The Regents are not received by The Regents when due, the Licensee will pay to The Regents interest at a rate of [*] simple interest per annum. Such interest will be
calculated from the date payment was due until such payment was actually received by The Regents. Such accrual of interest will be in addition to and not in lieu of, enforcement of any other rights of The Regents due to such late payment. 

 

	5.	 AMENDMENT ISSUE FEE 

The Licensee will pay to The Regents an amendment issue fee of ten thousand dollars ($10,000) within [*] of the Amendment Effective
Date. This fee is non-refundable, non-cancelable and is not an advance or otherwise creditable against any royalties or other payments required to be paid under the
terms of this Agreement. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

15 

	6.	 LICENSE MAINTENANCE FEE 

6.1 The Licensee will also pay to The Regents a license maintenance fee of ten thousand dollars ($10,000) beginning on the first
anniversary of the Amendment Effective Date and continuing annually on each anniversary of the Effective Date, provided that such license maintenance fee is not due on any anniversary of the Effective Date if, on that date, the Licensee (or
its Affiliate, Joint Venture or Sublicensee) is Selling or otherwise exploiting Licensed Products or Licensed Services for which Licensee is paying (or shall have the obligation to pay) an Earned Royalty to The Regents on the Net Sales of such
Licensed Product or Licensed Services. The license maintenance fee is non-refundable and is not an advance or otherwise creditable against any royalties or other payments required to be paid under the terms of
this Agreement. 
  

	7.	 INDEXED MILESTONE PAYMENT 

7.1 Within [*] of either (i) closing of the initial public offering of the common stock of Licensee pursuant to a registration statement
filed with the Securities and Exchange Commission (“IPO”) or (ii) closing of a Liquidation Event, as defined in Licensee’s certificate of incorporation (as amended from time to time), Licensee, subject to the terms of Paragraph
7.2, shall make to The Regents a cash payment equal to 25,000 times $P, where $P is either the IPO price per share of common stock, or in the case of a merger or acquisition Liquidation Event, the average price per share paid for all common stock
acquired by the merged or acquiring company (“Indexed Milestone Payment”). For clarity, the Regents shall receive the payment that the holder of 25,000 shares of common stock would receive in such merger or acquisition upon the closing of
such merger or acquisition (but excluding any amounts withheld in escrow until such time as such escrow is released). The obligation of the Licensee to make this Indexed Milestone Payment shall be a one-time
payment obligation and will survive termination or expiration of this Agreement and, in the case of payment as a result of provision (ii) of this Section 5.1, such payment shall be subordinate to the liquidation preferences of any
Preferred Stock of Licensee as set forth in Licensee’s then current Certificate of Incorporation. 
 7.2 After the Effective Date, if
the outstanding shares of common stock of Principia shall be subdivided (by stock split, stock dividend or otherwise) into a greater number of shares of common stock, the number specified above (initially 25,000) in effect immediately prior to

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

16 

 
such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately increased. After the Effective Date, if the outstanding shares of common stock shall be
combined (by reclassification or otherwise) into a lesser number of shares of common stock, the number specified above (initially 25,000) in effect immediately prior to such combination shall, concurrently with the effectiveness of such combination,
be proportionately decreased. 
  

	8.	 PAYMENTS ON SUBLICENSES 

8.1 Subject to Paragraph 8.2, the Licensee will pay to The Regents the following non-refundable and non-creditable sublicense fees (“Sublicense Fees”): 
  

	 	8.1.1	 With respect to Attributed Income from any Sublicense of Patent Rights, other than [*]: 

8.1.1.1 [*] of all such Attributed Income for any Sublicense granted [*]; 

8.1.1.2 [*] of all such Attributed Income for any Sublicense granted [*]; 

8.1.1.3 [*] of all such Attributed Income for any Sublicense granted [*]; 

8.1.1.4 [*] of all such Attributed Income for any Sublicense granted [*]; or 

8.1.1.5 [*] of all such Attributed Income for any Sublicense granted [*]. 

 

	 	8.1.2	 With respect to Attributed Income from a Sublicense of Patent Rights with regards [*]: 

8.1.2.1 [*]. 
  

	9.	 EARNED ROYALTIES 

9.1 Subject to Paragraph 9.2, the Licensee will also pay to The Regents the following earned royalty, with respect to cumulative Net Sales by
the Licensee, Affiliates, Joint Ventures and Sublicensees, in a given calendar year (collectively, the “Royalty”): 
 (i) [*] of
cumulative annual Net Sales of Licensed Product (other than Third Party Compounds) up to and including [*]; and 
 (ii) [*] of cumulative
annual Net Sales of Third Party Compounds up to and including [*]; and 
 (iii) [*] of any amount of annual Net Sales of Licensed Product
(other than Third Party Compounds) in excess of [*]; and 
 (iv) [*] of any amount of annual Net Sales of Third Party Compounds in excess of
[*]. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

17 

 9.2 Notwithstanding Paragraph 9.1 and subject to Paragraph 9.3, if Licensee finds it necessary or
desirable to obtain a license under a patent of one or more third parties to make, sell, offer for sale or import a Licensed Product, and if the combined royalty due to UCSF and these unaffiliated third party(ies) exceeds [*], then the royalty to be
paid to UCSF by Licensee shall be reduced by the amount determined by the following formula: [*], in which [*]. However, in no event shall the amount paid to UCSF be reduced below [*] of the original royalty amounts due UCSF. 

9.3 Notwithstanding Paragraph 9.1, with respect to each Licensed Product, if Licensee is obligated to make royalty payments to The Regents
under the Initial Agreement on the Net Sales of such Licensed Product, Licensee shall have no obligation to pay and The Regents shall have no right to receive any Earned Royalties pursuant to this Paragraph 9 of this Agreement on the Net Sales of
such Licensed Product. 
  

	10.	 MILESTONE PAYMENTS 

10.1 Subject to Paragraphs 10.3 and 10.5, with respect to a Therapeutic Licensed Product that is not a Third Party Compound, the Licensee will
pay to The Regents the following non-refundable, non-creditable amounts on a one-time basis, for the first such event to occur:

  

	 	10.1.1	 [*] upon [*]; 

  

	 	10.1.2	 [*] upon [*]; 

  

	 	10.1.3	 [*] upon [*]; 

  

	 	10.1.4	 [*] upon [*]; 

  

	 	10.1.5	 [*] upon [*]; and 

  

	 	10.1.6	 [*] upon [*]. 

10.2 For the avoidance of doubt, each of the milestone payments set forth in Paragraphs 10.1.1 through 10.1.6 will be payable only once, such
amounts payable only as to the first Licensed Product (or T2 Licensed Product pursuant to Section 8.3) to achieve each such milestone, regardless of whether the applicable milestone event has been achieved by the Licensee or any Affiliate,
Joint Venture or Sublicensee and regardless of whether any such milestone event is achieved more than once or by more than one Licensed Product. 

10.3 Notwithstanding Paragraph 10.1, with respect to each Therapeutic Licensed Product, if Licensee is making milestone payments to The Regents
under the Initial Agreement with respect to such Licensed Product that is a T2/T3 Licensed Product, Licensee shall have no 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

18 

 
obligation to pay and The Regents shall have no right to receive any Milestone Payments pursuant to Section 8.1 for such T2/T3 Licensed Product. However, if the Licensee has made any
milestone payments under the Initial Agreement for a T2/T3 Licensed Product, and if the Licensee develops a second product that is a T2 Licensed Product, then, within [*] after written notice from the Licensee of [*], The Regents may designate such
T2 Licensed Product as a T3 Licensed Product solely for purposes of this Article 10, and the Licensee shall make the above milestone payments if such designated T3 Licensed Product achieves the milestone events set forth in Paragraphs 10.1.1 through
10.1.6 above (so long as such milestone payments have not been made previously); provided that the foregoing shall apply only if such T2 Licensed Product is the second of all T2 Licensed Products, T2/T3 Licensed Products and T3 Licensed Products
developed by the Licensee for which [*]. 
 10.4 All milestone payments due hereunder are due to The Regents within [*] after the occurrence
of the applicable milestone event. 
  

	11.	 DUE DILIGENCE 

11.1 The Licensee, upon execution of this Agreement, will diligently proceed with the development, manufacture and, if successful, seeking of
regulatory approval and Sale of Licensed Products and Licensed Services and will earnestly and diligently market the same after execution of this Agreement and in quantities sufficient to meet the market demands therefor. 

11.2 The Licensee will obtain all necessary governmental approvals in each country where Licensed Products and Licensed Services are
manufactured, used, Sold, offered for Sale or imported. 
 11.3 The Licensee will: 

 

	 	11.3.1	 [*] within [*] after the Effective Date; 

 

	 	11.3.2	 [*] within [*] after the Effective Date; 

 

	 	11.3.3	 [*] within [*] years after the Effective Date; 

 

	 	11.3.4	 [*] within [*] after the Effective Date; 

 

	 	11.3.5	 [*] within [*] after [*]; and 

 

	 	11.3.6	 fill the market demand for Licensed Products and Licensed Services following commencement of marketing at any
time during the exclusive period of this Agreement. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

19 

 11.4 If the Licensee does not satisfy its obligations under any of the provisions of this Article
11, then The Regents has the right and option to either terminate this Agreement or reduce the exclusive license granted to the Licensee to a nonexclusive license in accordance with Paragraph 11.5 below. This right, if exercised by The Regents,
supersedes the exclusivity of the rights granted in Article 2 (Grant). 
 11.5 The Regents recognizes that there are uncertainties associated
with the development of therapeutic products and the regulatory process required by the FDA (and foreign regulatory authorities that are equivalent to the FDA), and that it may be necessary from time to time to amend the milestones under
Subparagraphs 11.3.1 through 11.3.6. Accordingly, The Regents agrees to extend each such milestone under Subparagraphs 11.3.1 through 11.3.6 for up to one (1) year provided that Licensee can demonstrate to The Regents its diligent efforts with
supporting documentation, at no cost to the Licensee for the first extension. Additional one (1) year extensions are available for any milestone provided that Licensee can continue to demonstrate its diligent efforts with supporting
documentation and pays an additional extension fee of [*]. An extension will extend all remaining milestones in Subparagraphs 11.3.1 through 11.3.6 by the applicable time period. Notwithstanding the foregoing, in the event that unforeseen
circumstances warrant amendment of Licensee’s development plan, and Licensee can demonstrate its diligent efforts (with reasonable supporting documentation) to meet the milestones above to The Regents’ satisfaction (based solely on the
Regents’ assessment of Licensee’s demonstration and supporting documentation), Licensee and The Regents will agree to negotiate in good faith a revision to the foregoing milestones. 

11.6 To exercise either the right to terminate this Agreement or to reduce the exclusive license granted to the Licensee to a non-exclusive license for failure to satisfy its obligations under any of the paragraphs of this Article 11 (Due Diligence), The Regents will give the Licensee written notice of the deficiency. The Licensee
thereafter has [*] to cure the deficiency. If The Regents has not received written tangible evidence satisfactory to The Regents that the deficiency has been cured (or a plan to cure has been established where such deficiency is not susceptible to
cure within such [*] period) by the end of the [*] period, then The Regents may, at its option, terminate this Agreement immediately without the obligation to provide [*] notice as set forth in Article 15 (Termination by The Regents) or reduce the
exclusive license granted to the Licensee to a non-exclusive license by giving written notice to the Licensee. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

20 

	12.	 PROGRESS AND ROYALTY REPORTS 

12.1 Beginning on [*], and [*] thereafter, the Licensee will submit to The Regents a written progress report as described in Paragraph 12.2
below covering the Licensee’s (and any Affiliates’, Joint Ventures’ or Sublicensee’s) activities related to the development and testing of all Licensed Products and Licensed Services and related to the obtaining of the
governmental approvals necessary for marketing and the activities required and undertaken in order to meet the diligence requirements set forth in Article 9 (Due Diligence). Progress reports are required for each Licensed Product and Licensed
Service until the first Sale or other exploitation of a Licensed Product or Licensed Service occurs in the United States and shall be again required if Sales of such Licensed Product or Licensed Service are suspended or discontinued. 

12.2 Progress reports submitted under Paragraph 12.1 shall include, but are not limited to, a detailed summary of the following topics so that
The Regents will be able to determine the progress of the development of Licensed Products and Licensed Services and will also be able to determine whether or not the Licensee has met its diligence obligations set forth in Article 11 (Due Diligence)
above: 
  

	 	12.2.1	 a summary of work completed as of the submission date of the progress report; 

 

	 	12.2.2	 key scientific discoveries under Patent Rights as of the submission date of the progress report;

  

	 	12.2.3	 a summary of work in progress under Patent Rights as of the submission date of the progress report;

  

	 	12.2.4	 current schedule of anticipated events and milestones under Patent Rights, including those event and milestones
specified in Article 11 (Due Diligence); 

  

	 	12.2.5	 commencing [*] before the anticipated date of receiving FDA approval of a first Licensed Product or a first
Licensed Service, a summary of market plans for introduction of Licensed Products and Licensed Services including the anticipated and actual market introduction dates of each Licensed Product or Licensed Service; 

 

	 	12.2.6	 a summary Sublicensees’ activities relating to the above items, if there are any Sublicensees; and

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

21 

	 	12.2.7	 a summary of resources (dollar value) spent in the reporting period. 

12.3 If the Licensee fails to submit a timely progress report to The Regents, and does not cure such failure within [*] of written notice from
The Regents specifying such failure, then The Regents will be entitled to terminate this Agreement pursuant to Article 15. If either Party terminates this Agreement before any Licensed Products or Licensed Services are Sold or before this
Agreement’s expiration, then a final progress report covering the period prior to termination must be submitted within [*] of termination or expiration. 

12.4 The Licensee has a continuing responsibility to keep The Regents informed of the business entity status (small business entity status or
large business entity status as defined by the United States Patent and Trademark Office) of itself, any Affiliates, Joint Ventures, or Sublicensees. The Licensee will notify The Regents of any change of its status or that of any Affiliate, Joint
Venture, or Sublicensee within [*] of the change in status. 
 12.5 The Licensee will report to The Regents the date of first Sale or other
exploitation of a Licensed Product or Licensed Service in each country in its first progress and royalty reports following such first Sale of a Licensed Product or Licensed Service. 

12.6 Beginning with the earlier of (i) the first Sale or other exploitation of a Licensed Product or Licensed Service or (ii) the
first transaction that results in Sublicense Fees accruing to The Regents, the Licensee will make [*] Earned Royalty and Sublicensee Fee reports to The Regents on or before [*] of each year. Each Earned Royalty and Sublicensee Fee report will cover
Licensee’s most recently completed calendar quarters and will, at a minimum, show: 
  

	 	12.6.1	 the gross invoice prices and Net Sales of Licensed Products or Licensed Services Sold or otherwise exploited
(itemizing the applicable gross proceeds and any deductions therefrom), any Attributed Income (itemizing the applicable gross proceeds and any deductions therefrom) and any Service Income (itemizing the applicable gross proceeds and any deductions
therefrom) due to the Licensee; 

  

	 	12.6.2	 the quantity of each type of Licensed Product and/or Licensed Service Sold or otherwise exploited;

  

	 	12.6.3	 the country in which each Licensed Product and Licensed Service was made, used or Sold or otherwise exploited;

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

22 

	 	12.6.4	 the Earned Royalties, in United States dollars, payable with respect to Net Sales and Service Income in each
year; 

  

	 	12.6.5	 the Sublicense Fees, in United States dollars, payable with respect to Attributed Income;

  

	 	12.6.6	 the method used to calculate the Earned Royalty, specifying all deductions taken and the dollar amount of each
such deduction; 

  

	 	12.6.7	 the exchange rates used, if applicable; 

 

	 	12.6.8	 the amount of the cash equivalent of any non-cash consideration
including the method used to calculate the non-cash consideration; and 

  

	 	12.6.9	 for each Licensed Product and each Licensed Service, the specific Patent Rights identified by UC Case Number
exercised by the Licensee or any Affiliate, Joint Venture or Sublicensee in the course of making, using, selling, offering for Sale or importing such Licensed Product and/or using, selling or offering for Sale such Licensed Service.

 12.7 If no Sales of Licensed Products and Licensed Services have been made and no Licensed Products and Licensed
Services have been otherwise exploited and no Attributed Income is due to the Licensee during any reporting period, then a statement to this effect must be provided by the Licensee in the immediately subsequent Earned Royalty and Sublicense Fee
report. 
  

	13.	 BOOKS AND RECORDS 

13.1 The Licensee will keep, and will use reasonable commercial efforts to cause Affiliates, Joint Ventures and Sublicensees to keep, accurate
books and records showing all Licensed Product under development, manufactured, used, offered for Sale, imported, Sold and or otherwise exploited; all Licensed Service Sold or otherwise provided; all Net Sales, all Attributed Income, all Service
Income and other amounts to be paid to The Regents hereunder; and all sublicenses granted under the terms of this Agreement. Such books and records will be preserved for at least [*] after the date of the payment to which they pertain and will be
open to examination by representatives or agents of The Regents during regular office hours after not less than [*] prior written notice, and not more frequently than once during any calendar year, to determine their accuracy and assess the
Licensee’s compliance with the terms of this Agreement. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

23 

 13.2 The Regents shall pay the fees and expenses of such examination. If, however, an error of
more than [*] of the Earned Royalties due for any year is discovered in any examination, then the Licensee shall bear the fees and expenses of such examination and shall remit such underpayment to The Regents within [*] of the examination results.

  

	14.	 LIFE OF THE AGREEMENT 

14.1 Unless otherwise terminated by operation of law, Paragraph 14.2 or by acts of the Parties in accordance with the terms of this Agreement,
this Agreement will remain in effect from the Effective Date until the expiration or abandonment of the last of the Patent Rights licensed hereunder. 

14.2 This Agreement will automatically terminate as permitted under applicable law without the obligation to provide [*] notice as set forth in
Article 15 (Termination By The Regents) if a petition for relief under the United States Bankruptcy Code is filed by or against the Licensee as a debtor or alleged debtor and is not dismissed within [*] days after filing. 

14.3 Any termination or expiration of this Agreement will not affect the rights and obligations set forth in the following Articles: 

 

			
	Article 1	 	Definitions
	Paragraph 3.5	 	Survival of Sublicenses
	Paragraph 4.8	 	Late Payments
	Article 7	 	Indexed Milestone Payment
	Article 8	 	Payments on Sublicenses
	Article 9	 	Earned Royalties
	Article 13	 	Books and Records
	Article 14	 	Life of the Agreement
	Article 17	 	Disposition of Licensed Products and Licensed Services on Hand Upon Termination or Expiration
	Article 18	 	Use of Names and Trademarks
	Article 19	 	Limited Warranty
	Article 20	 	Limitation of Liability
	Paragraphs 21.4 and 21.6	 	Patent Prosecution and Maintenance
	Article 24	 	Indemnification
	Article 25	 	Notices
	Article 24	 	Assignability
	Article 29	 	Governing Laws; Venue
	Article 32	 	Confidentiality
	Paragraph 33.7	 	HHMI Third Party Beneficiary Status

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

24 

 14.4 The termination or expiration of this Agreement will not relieve the Licensee of its
obligation to pay any payments owed to The Regents at the time of such termination or expiration and will not impair any accrued right of The Regents, including the right to receive Earned Royalties in accordance with Articles 8 (Payments on
Sublicenses), 9 (Earned Royalties) and 17 (Disposition of Licensed Products and Licensed Services Upon Termination or Expiration). 
  

	15.	 TERMINATION BY THE REGENTS 

If the Licensee fails to perform or violates any material term of this Agreement, then The Regents may give written notice of such default
(“Notice of Default”) to the Licensee. If the Licensee fails to repair such default within [*] after the effective date of such notice, then The Regents will have the right to immediately terminate this Agreement and its licenses by
providing a written notice of termination (“Notice of Termination”) to the Licensee. For purposes hereof, Licensee shall be deemed to have failed to perform a material term if it, among other things, fails to (i) make any payment due
to The Regents in accordance with this Agreement; (ii) perform the diligence obligations in accordance with and as described in Article 9; or (iii) submit progress and royalty reports in accordance with and as provided in Article 10. 

 

	16.	 TERMINATION BY LICENSEE 

The Licensee has the right at any time to terminate this Agreement by providing a Notice of Termination to The Regents. Moreover, the Licensee
will be entitled to terminate the rights under Patent Rights on a country-by-country basis by giving notice in writing to The Regents. Termination of this Agreement (but
not termination of Licensee’s obligation with respect to any patents or patent applications under Patent Rights, which termination is subject to Paragraph 21.6) will be effective [*] from the effective date of such notice. 

 

	17.	 DISPOSITION OF LICENSED PRODUCT AND LICENSED SERVICES UPON TERMINATION OR EXPIRATION 

17.1 Upon termination (but not expiration) of this Agreement, within a period of [*] after the date of termination, the Licensee is entitled to
(i) Sell all previously made or partially made Licensed Product, but no more and (ii) provide previously contracted-for Licensed Services, provided that the Sale or use of such Licensed Product and
the provision of such Licensed Services are subject to the terms of this Agreement, including, but not limited to, the rendering of reports and payment of Earned Royalties and Sublicense Fees and any other payments therefor required under this
Agreement. The Licensee will not otherwise make, use, Sell, offer for Sale or import Licensed Products or Licensed Services, or practice the Licensed Method after the date of termination. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

25 

 17.2 If applicable Patent Rights exist at the time of any making, Sale, offer for Sale, or import
of a Licensed Product or the time of any Sale, offer for Sale, or rendering of a Licensed Service, then Earned Royalties shall be paid at the times provided herein and Earned Royalty reports shall be rendered in connection therewith, notwithstanding
the absence of applicable Patent Rights with respect to such Licensed Product or Licensed Service at any later time. Otherwise, no Earned Royalties shall be paid on the Sales of such product or service. Any fees or other payments owed to The Regents
under the terms of this Agreement at the time of expiration not based on the Sale of a Licensed Product or Licensed Service will be paid to The Regents at the time such fee or other payment would have been due had this Agreement not expired. 

 

	18.	 USE OF NAMES AND TRADEMARKS 

Except as provided in this Article 18 below, nothing contained in this Agreement will be construed as conferring any right to either party to
use in advertising, publicity or other promotional activities any name, trade name, trademark or other designation of the other party (including a contraction, abbreviation or simulation of any of the foregoing). Without the Licensee’s consent case-by-case, The Regents may list Licensee’s name as a licensee of technology from The Regents without further identifying the technology. Unless required by law or
unless consented to in writing by Executive Director, Office of Technology Transfer of The Regents, the use by the Licensee of the name “The Regents of the University of California” or the name of any campus of the University of California
in advertising, publicity or other promotional activities is expressly prohibited. Licensee may not use the name of HHMI or of any HHMI employee (including Dr. Jack Taunton) in a manner that reasonably could constitute an endorsement of a
commercial product or service; but that use for other purposes, even if commercially motivated, is permitted provided that (i) the use is limited to accurately reporting factual events or occurrences, and (ii) any reference to the name of
HHMI or any HHMI employees in press releases or similar materials intended for public release is approved by HHMI in writing in advance 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

26 

	19.	 LIMITED WARRANTY 

19.1 The Regents warrants to the Licensee that it has the lawful right to grant this license. 

19.2 Except as expressly set forth in this Agreement, this license and the associated Invention, Patent Rights, Licensed Products, Licensed
Services, and Licensed Methods are provided by The Regents WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. THE REGENTS MAKES NO EXPRESS OR IMPLIED REPRESENTATION OR
WARRANTY THAT THE INVENTION, PATENT RIGHTS, LICENSED PRODUCTS, LICENSED SERVICES, OR LICENSED METHODS WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK OR OTHER RIGHTS. 

19.3 This Agreement does not: 
  

	 	19.3.1	 express or imply a warranty or representation as to the validity, enforceability, or scope of any Patent
Rights; or 

  

	 	19.3.2	 express or imply a warranty or representation that anything made, used, Sold, offered for Sale or imported or
otherwise exploited under any license granted in this Agreement is or will be free from infringement of patents, copyrights, or other rights of third parties; or 

 

	 	19.3.3	 obligate The Regents to bring or prosecute actions or suits against third parties for patent infringement
except as provided in Article 23 (Patent Infringement); or 

  

	 	19.3.4	 confer by implication, estoppel or otherwise any license or rights under any patents or other rights of The
Regents other than Patent Rights, regardless of whether such patents are dominant or subordinate to Patent Rights; or 

  

	 	19.3.5	 obligate The Regents to furnish any New Developments, know-how,
technology or information not provided in Patent Rights. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

27 

	20.	 LIMITATION OF LIABILITY 

20.1 THE REGENTS WILL NOT BE LIABLE FOR ANY LOST PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR
INTELLECTUAL PROPERTY INFRINGEMENT OR 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 REGENTS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

20.2 EXCEPT AS SET FORTH IN ARTICLE 22 (INDEMNIFICATION), THE LICENSEE WILL NOT BE LIABLE FOR ANY LOST PROFITS, LOST BUSINESS, ENHANCED DAMAGES
OR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR OTHER SPECIAL DAMAGES SUFFERED BY THE REGENTS 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 LICENSEE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 
  

	21.	 PATENT PROSECUTION AND MAINTENANCE 

21.1 As long as the Licensee has paid Patent Prosecution Costs as provided for in this Article 21 (Patent Prosecution and Maintenance), The
Regents will diligently prosecute and maintain the United States and foreign patents comprising the Patent Rights using counsel of its choice. The Regents’ counsel will take instructions only from The Regents. The Regents will provide the
Licensee with copies of all relevant documentation reasonably in advance of any deadline for filing a response so that the Licensee will be informed of the continuing prosecution and would have an opportunity to comment upon such documentation,
provided, however, that if the Licensee has not commented upon such documentation in a reasonable time for The Regents to sufficiently consider the Licensee’s comments prior to a deadline with the relevant government patent office, or The
Regents must act to preserve the Patent Rights, The Regents will be free to respond without consideration of the Licensee’s comments, if any. The Licensee agrees to keep this documentation confidential as provided for in Article 32
(Confidentiality). Neither Party shall change the inventorship of ASF-045-1PCT application or any national application therefrom without prior written approval of the
other Party, such approval not to be unreasonably withheld. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

28 

 21.2 The Regents shall consider comments provided by the Licensee pursuant to Paragraph 21.1 and
shall use reasonable efforts to amend any patent application to include claims reasonably requested by the Licensee to protect the products and services contemplated to be Sold, or the Licensed Method to be practiced, under this Agreement. 

21.3 The Licensee will apply for an extension of the term of any patent included within the Patent Rights if appropriate under the Drug Price
Competition and Patent Term Restoration Act of 1984 and/or European, Japanese and other foreign counterparts of this Law. The Licensee shall prepare all documents and The Regents agrees to execute the documents and to take additional action as the
Licensee reasonably requests in connection therewith. Licensee shall bear the costs relating to such application. 
 21.4 The Licensee will
bear the costs of preparing, filing, prosecuting and maintaining all United States and foreign patent applications contemplated by this Agreement (“Patent Prosecution Costs”). Patent Prosecution Costs billed by The Regents’ counsel
will be rebilled to the Licensee and are due within [*] of rebilling by The Regents. The Regents will provide a copy of such invoices upon request to Licensee. These Patent Prosecution Costs will include, without limitation, patent prosecution costs
for the Invention incurred by The Regents prior to the execution of this Agreement and any patent prosecution costs that may be incurred for patentability opinions, re-examination, re-issue, interferences, oppositions or inventorship determinations. 
 21.5 The Licensee may request that
The Regents obtain patent protection on the Invention in foreign countries, if available and if the Licensee so desires. The Regents will inform the Licensee of the deadlines for payment, filing or action to be taken to obtain patent protection on
the Invention in foreign countries and Licensee will notify The Regents of its decision to obtain or maintain foreign patents, such notification to be provided not less than [*] prior to the deadline for any payment, filing or action to be taken in
connection therewith or, if The Regents informs the Licensee of a deadline less than [*] prior to such deadline, as soon as reasonably practicable. This notice concerning foreign filing must be in writing, must identify the countries desired and
must reaffirm the Licensee’s obligation to pay the Patent Prosecution Costs thereof. The absence of such a notice from the Licensee to The Regents will be considered an election not to obtain or maintain foreign Patent Rights. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

29 

 21.6 The Licensee will be obligated to pay any Patent Prosecution Costs incurred during the [*]
period after receipt by either party of a Notice of Termination when such costs are either incurred before the Notice of Termination was received or otherwise related to the termination, even if the invoices for such Patent Prosecution Costs are
received by the Licensee after the end of the [*] period following receipt of a Notice of Termination. The Licensee may terminate its obligation to pay Patent Prosecution Costs with respect to any given patent application or patent under Patent
Rights in any or all designated countries upon [*] written notice to The Regents. The Regents may continue prosecution and/or maintenance of such application(s) or patent(s) at its sole discretion and expense, provided, however, that the Licensee
will have no further right or licenses thereunder. Non-payment of Patent Prosecution Costs may be deemed by The Regents as an election by the Licensee not to maintain such application(s) or patent(s). 

21.7 The Regents may file, prosecute or maintain patent applications or patents at its own expense in any country in which the Licensee has not
elected to file, prosecute or maintain patent applications or patents in accordance with this Article 21 (Patent Prosecution and Maintenance) and those applications, resultant patents and patents will not be subject to this Agreement. 

 

	22.	 PATENT MARKING 

The Licensee will mark all Licensed Products made, used or Sold under the terms of this Agreement or their containers in accordance with
applicable patent marking laws. 
  

	23.	 PATENT INFRINGEMENT 

23.1 In the event that The Regents (to the extent of the actual knowledge of the licensing professional responsible for the administration of
this Agreement) or the 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”). Neither The Regents nor the Licensee will notify a possible infringer of infringement or put such infringer on notice of the existence of any
Patent Rights without first obtaining consent of the other, such consent not to be unreasonably withheld or delayed. Both The Regents and the Licensee will use their diligent efforts to cooperate with each other to terminate such infringement
without litigation. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

30 

 23.2 If infringing activity of potential commercial significance by the infringer has not been
abated within [*] following the date of an Infringement Notice, then the Licensee may institute suit for patent infringement against the infringer. The Regents may voluntarily join such suit at its own expense, but may not otherwise commence suit
against the infringer for the acts of infringement that are the subject of the Licensee’s suit or any judgment rendered in that suit. The Licensee may not join The Regents as a party in a suit initiated by the Licensee without The Regents’
prior written consent, such written consent subject to the approval of the Board of the Regents of the University of California. If, in a suit initiated by the Licensee, The Regents is involuntarily joined other than by the Licensee, then the
Licensee will pay any costs incurred by The Regents arising out of such suit, including but not limited to, any legal fees of counsel that The Regents selects and retains to represent it in the suit. 

23.3 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 the Drug Price Competition and Patent Term Restoration Act of 1984 (and/or foreign counterparts of this Law), then the party in receipt of such notice under the Act
(in the case of The Regents 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 set forth above will be shortened to permit Licensee to maintain its
rights under the requirements under the Act. 
 23.4 Any recovery or settlement received in connection with any suit will first be shared by
The Regents and the Licensee equally to cover any litigation costs each incurred and next shall be paid to The Regents or the Licensee to cover any litigation costs it incurred in excess of the litigation costs of the other. In any suit [*], any
recovery in excess of litigation costs will be shared between Licensee and The Regents as follows: (a) for any recovery [*]: (i) The Regents will receive [*] of the recovery if [*], (ii) The Regents will receive [*] of the recovery if [*], but
[*], and (iii) The Regents will receive [*] of the recovery if [*]; and (b) for any recovery [*], The Regents will receive [*] of the recovery. In any suit [*], any recovery in excess of litigation costs will [*]. The Regents and the
Licensee agree to be bound by all determinations of patent infringement, validity and enforceability (but no other issue) resolved by any adjudicated judgment in a suit brought in compliance with this Article 23 (Patent Infringement). 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

31 

 23.5 Any agreement made by the Licensee for purposes of settling litigation or other dispute
shall comply with the requirements of Article 3 (Sublicenses) of this Agreement. 
 23.6 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). 

23.7 Any litigation proceedings will be controlled by the party bringing the suit. The Regents may be represented by counsel of its choice in
any suit brought by the Licensee. 
  

	24.	 INDEMNIFICATION 

24.1 The Licensee will, and will require its Sublicensees to, indemnify, hold harmless and defend The Regents, the sponsors of the research
that led to the Invention , and any invention claimed in patents or patent applications under Patent Rights (including the Licensed Products, Licensed Services and Licensed Methods contemplated thereunder) and their employers, and the officers,
employees and agents of any of the foregoing, against any and all claims, suits, losses, damage, costs, fees and expenses resulting from, or arising out of, the exercise of this license by Licensee, an Affiliate and/or a Joint Venture or of any
sublicense by a Sublicensee. This indemnification will include, but not be limited to, any product liability. If The Regents, in its sole discretion, believes that there will be a conflict of interest or it will not otherwise be adequately
represented by counsel chosen by the Licensee to defend The Regents in accordance with this Paragraph 24.1, then The Regents may retain counsel of its choice to represent it and the Licensee will pay all expenses for such representation. HHMI and
its trustees, officers, employees, and agents (collectively, “HHMI Indemnitees”) will be indemnified, defended by counsel acceptable to HHMI, and held harmless by the Licensee and its Sublicensees from and against any claim, liability,
cost, expense, damage, deficiency, loss, or obligation of any kind or nature (including, without limitations, reasonable attorney’s fees and other costs and expenses of defense) based on, resulting from, arising out of, or
otherwise relating to this Agreement or the exercise of this license by Licensee, an Affiliate, a Joint Venture and/or any Sublicensee, including without any limitation cause of action relating to 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

32 

 
product liability (collectively, “Claims”). The previous sentence will not apply to any Claim that is determined with finality by a court of competent jurisdiction to result solely from
the gross negligence or willful misconduct of an HHMI Indemnitee. If HHMI, in its sole discretion, believes that there will be a conflict of interest or it will not otherwise be adequately represented by counsel chosen by the Licensee to defend the
HHMI Indemnitees in accordance with this Paragraph 24.1, then HHMI may retain counsel of its choice to represent the HHMI Indemnitees, and the Licensee will pay all expenses for such representation. 

24.2 The Licensee, at its sole cost and expense, will insure its activities in connection with any work performed hereunder by Licensee, an
Affiliate, a Joint Venture, and/or a Sublicensee, and will obtain, keep in force, and maintain the following insurance: 
  

	 	24.2.1	 Commercial Form General Liability Insurance (contractual liability included) with limits as follows prior to
first dosing in humans: 

  

			
	 Each Occurrence
	  	[*]
	 Products/Completed Operations Aggregate
	  	[*]
	 Personal and Advertising Injury
	  	[*]
	 General Aggregate (commercial form only)
	  	[*]

 As of the time of administration of first dosing in humans, the insurance limits shall be as follows: 

 

			
	 Each Occurrence
	  	[*]
	 Products/Completed Operations Aggregate
	  	[*]
	 Personal and Advertising Injury
	  	[*]
	 General Aggregate (commercial form only)
	  	[*]

 If the above insurance is written on a claims-made form, it shall continue for [*] following termination or
expiration of this Agreement. The insurance shall have a date of placement prior to or coinciding with the Effective Date of this Agreement; and 
  

	 	24.2.2	 Worker’s Compensation as legally required in the jurisdiction in which the Licensee is doing business.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

33 

 The insurance obligations in this Article 24 may be satisfied by Licensee’s insurance coverage under
the Initial Agreement, provided that such insurance coverage satisfies the Licensee’s obligations under this Article 24 with respect to Licensed Products and Licensed Services. 

24.3 The coverage and limits referred to in Paragraph 24.2.1 and 24.2.2 above will not in any way limit the liability of the Licensee under the
terms of this Article 24 (Indemnification). Upon the execution of this Agreement, the Licensee will furnish The Regents with certificates of insurance evidencing compliance with all requirements. Such certificates will: 

 

	 	•	 	 Provide for thirty (30) days’ (ten (10) days for
non-payment of premium) advance written notice to The Regents of any cancellation of insurance coverage; the Licensee will promptly notify The Regents of any material modification of the insurance coverage;

  

	 	•	 	 Indicate that The Regents and HHMI has been endorsed as an additional insured(s) under the coverage described
above in Paragraph 24.2.1; and 

  

	 	•	 	 Include a provision that the coverage will be primary and will not participate with, nor will be excess over, any
valid and collectable insurance or program of self-insurance maintained by The Regents and HHMI. 

 24.4 The Regents will
promptly notify the Licensee in writing of any claim or suit brought against The Regents for which The Regents intends to invoke the provisions of this Article 24 (Indemnification). The Licensee will keep The Regents informed of its defense of any
claims pursuant to this Article 24 (Indemnification). In the case of an HHMI Indemnitee, notice shall be given reasonably promptly following actual receipt of written notice thereof by an officer or attorney of HHMI. Notwithstanding the foregoing,
the delay or failure of an HHMI Indemnitee to give prompt notice to Licensee of any Claim shall not affect the rights of such HHMI Indemnitee unless, and then only to the extent that, such delay or failure is prejudicial to or otherwise adversely
affects Licensee. The Licensee will keep HHMI informed of its defense of any Claims pursuant to this Article 24. 
  

	25.	 NOTICES 

25.1 Any notice or payment required to be given to either party under this Agreement will be in writing and will be deemed to have been
properly given and to be effective as of the date specified below if delivered to the respective address given below or to another address as designated by written notice given to the other party: 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

34 

	 	25.1.1	 on the date of delivery if delivered in person; or 

 

	 	25.1.2	 on the date of mailing if mailed by first-class certified mail, postage paid; or 

 

	 	25.1.3	 on the date of mailing if mailed by any global express carrier service that requires the recipient to sign the
documents demonstrating the delivery of such notice or payment. 

  

			
	In the case of Licensee:	 	Principia Biopharma Inc.
		 	400 East Jamie Court
		 	Suite 302
		 	South San Francisco, California 94080
		 	Attention: President and Chief Executive Officer
		
	In the case of The Regents:	 	THE REGENTS OF THE UNIVERSITY
		 	OF CALIFORNIA
		 	Office of Innovation, Technology, and Alliances
		 	3333 California St. Suite S-11
		 	San Francisco, California 94143 innovation@ucsf.edu
		 	Attention: Director, Technology Management
		 	RE: UC Case No. SF2011-045
		
	Payments to The Regents should be directed to:	 	
		
		 	 Innovation Alliances and Services
 Attn.:
Accounts Receivable
 University of California
 Office of the
President
 1111 Franklin Street, 5th Floor

Oakland, California 94607-5200
 RE: UC Case No. SF2011-045

  

	26.	 ASSIGNABILITY 

This Agreement is personal to the Licensee. The Licensee may assign or transfer this Agreement, without The Regents’ prior written
consent, only in the case of assignment or transfer to a party that succeeds to all or substantially all of Licensee’s business or assets relating to this Agreement, whether by sale, merger, operation of law or otherwise, provided that such
assignee or transferee promptly agrees to be bound by the terms and conditions of this Agreement and signs The Regents’ standard substitution of party letter (the form of which is attached hereto as Appendix A). Any attempted assignment by
Licensee other than in accordance with this Paragraph 26 will be null and void. This Agreement is binding upon and will inure to the benefit of The Regents, its successors and assigns. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

35 

	27.	 WAIVER 

No waiver by either Party of any breach or default of any of the agreements contained herein will be deemed a waiver as to any subsequent
and/or similar breach or default. No waiver will be valid or binding upon the parties unless made in writing and signed by a duly authorized officer of each Party. 
  

	28.	 FORCE MAJEURE 

28.1 Except for the Licensee’s obligation to make any payments to The Regents hereunder, each of the Parties shall not be responsible for
any failure to perform due to the occurrence of any events beyond their reasonable control which render such Party’s performance impossible or onerous, including, but not limited to: accidents (environmental, toxic spill, etc.); acts of God;
biological or nuclear incidents; casualties; earthquakes; fires; floods; governmental acts; orders or restrictions; inability to obtain suitable and sufficient labor, transportation, fuel and materials; local, national or state emergency; power
failure and power outages; acts of terrorism; strike; and war. 
 28.2 Either Party to this Agreement, however, will have the right to
terminate this Agreement upon [*] prior written notice if either Party is unable to fulfill its obligations under this Agreement due to any of the causes specified in Paragraph 28.1 for a period of [*]. 

 

	29.	 GOVERNING LAWS; VENUE 

29.1 THIS AGREEMENT WILL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, excluding any choice of law rules
that would direct the application of the laws of another jurisdiction and without regard to which party drafted particular provisions of this Agreement, but the scope and validity of any patent or patent application will be governed by the
applicable laws of the country of such patent or patent application. 
 29.2 Any legal action brought by the parties hereto relating to this
Agreement will be conducted in San Francisco, California. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

36 

	30.	 GOVERNMENT 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, the Licensee will assume all legal obligations to do so. The Licensee will notify The Regents if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. The Licensee will
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. 

 

	31.	 COMPLIANCE WITH LAWS 

The Licensee shall comply with all applicable international, national, state, regional and local laws and regulations in performing its
obligations hereunder and in its use, manufacture, Sale or import of the Licensed Products, Licensed Services or practice of the Licensed Method. The Licensee will observe all applicable United States and foreign laws with respect to the transfer of
Licensed Products and related technical data and the provision of Licensed Services to foreign countries, including, without limitation, the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. The Licensee
shall manufacture Licensed Products and practice the Licensed Method in compliance with applicable government importation laws and regulations of a particular country for Licensed Products made outside the particular country in which such Licensed
Products are used, Sold or otherwise exploited. 
  

	32.	 CONFIDENTIALITY 

32.1 The Licensee and The Regents will treat and maintain the other party’s proprietary business, patent prosecution, software,
engineering drawings, process and technical information and other proprietary information, including the negotiated terms of this Agreement and any progress reports and royalty reports and any sublicense agreement issued pursuant to this Agreement
(“Proprietary Information” of the disclosing Party) in confidence using at least the same degree of care as the receiving party uses to protect its own proprietary information of a like nature from the date of disclosure until [*] after
the termination or expiration of this Agreement. This confidentiality obligation will apply to the information defined as “Data” under the Mutual Nondisclosure Agreement and such Data will be treated as Proprietary Information
hereunder. 
 32.2 The Licensee and The Regents each may use and disclose the other Party’s Proprietary Information to their employees,
agents, consultants, contractors and, in the case of the Licensee and its Sublicensees, provided that such parties are bound by a like duty of confidentiality as that found in this Article 32 (Confidentiality). In addition, the Licensee may

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

37 

 
disclose the terms of this Agreement to any bona fide potential or actual investor, investment banker, acquirer, merger partner, or other potential or actual financial partner, provided that such
parties are bound by a like duty of confidentiality as that found in this Article 32. Notwithstanding anything to the contrary contained in this Agreement, The Regents may release this Agreement or any sublicense, including any terms thereof, and
information regarding royalty payments or other income received in connection with this Agreement to the inventors, senior administrative officials employed by The Regents and individual Regents and to the senior administrative officials employed by
HHMI and individual trustees of HHMI upon their request. If such release is made, The Regents will request that such terms be kept in confidence in accordance with the provisions of this Article 32 (Confidentiality). In addition, notwithstanding
anything to the contrary in this Agreement, if a third party inquires whether a license to Patent Rights is available, then The Regents may disclose the existence of this Agreement and the extent of the grant in Articles 2 (Grant) and 3
(Sublicenses) and related definitions to such third party, but will not disclose the name of the Licensee unless Licensee has already made such disclosure publicly. 

32.3 All written Proprietary Information will be labeled or marked confidential or proprietary. If the Proprietary Information is orally
disclosed, it will be reduced to writing or some other physically tangible form, marked and labeled as confidential or proprietary by the disclosing party and delivered to the receiving party within [*] after the oral disclosure. 

32.4 Nothing contained herein will restrict or impair, in any way, the right of the Licensee or The Regents to use or disclose any Proprietary
Information of the other Party: 
  

	 	32.4.1	 that recipient can demonstrate by written records was previously known to it prior to its disclosure by the
disclosing Party; 

  

	 	32.4.2	 that recipient can demonstrate by written records is now, or becomes in the future, public knowledge other than
through acts or omissions of recipient; 

  

	 	32.4.3	 that recipient can demonstrate by written records was obtained lawfully and without restrictions on the
recipient from sources independent of the disclosing party; 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

38 

	 	32.4.4	 that recipient can demonstrate from written records was developed by or for the receiving Party without
reference to confidential information disclosed by the disclosing Party; and 

  

	 	32.4.5	 that The Regents is required to disclose pursuant to the California Public Records Act or other applicable law.

 The Licensee or The Regents also may disclose Proprietary Information of the other Party that is required to be disclosed (i) to a
governmental entity or agency in connection with seeking any governmental or regulatory approval, governmental audit, or other governmental contractual requirement or (ii) by law or court order, provided that the recipient uses reasonable
efforts to give the Party owning the Proprietary Information sufficient notice of such required disclosure to allow the Party owning the Proprietary Information reasonable opportunity to object to, and to take legal action to prevent, such
disclosure. 
 32.5 Upon termination of this Agreement, the Licensee and The Regents will destroy or return any of the disclosing
Party’s Proprietary Information in its possession within [*] following the termination of this Agreement. The Licensee and The Regents will provide each other, within [*] following termination, with written notice that such Proprietary
Information has been returned or destroyed. Each Party may, however, retain one copy of such Proprietary Information for archival purposes in non-working files. 

 

	33.	 MISCELLANEOUS 

33.1 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. 
 33.2 This Agreement is not binding on the parties until it has been signed below on behalf of
each party. It is then effective as of the Effective Date. 
 33.3 No amendment or modification of this Agreement is valid or binding on the
parties unless made in writing and signed on behalf of each party. 
 33.4 This Agreement 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. The Mutual Nondisclosure Agreement dated March 6, 2009 is hereby superseded. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

39 

 33.5 In case any of the provisions contained in this Agreement is held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provisions of this Agreement and this Agreement will be construed as if such invalid, illegal or unenforceable provisions had never been
contained in it. 
 33.6 This Agreement includes the attached Appendices A and B. 

33.7 No provisions of this Agreement are intended or shall be construed to confer upon or give to any person or entity other than The Regents
and the Licensee any rights, remedies or other benefits under, or by reason of, this Agreement. HHMI is not a party to this Agreement and has no liability to Licensee, any sublicensee, or user of anything covered by this Agreement, but HHMI is an
intended third-party beneficiary of this Agreement and certain of its provisions are for the benefit of HHMI and are enforceable by HHMI in its own name. 

33.8 In performing their respective duties under this Agreement, each of the Parties will be operating as an independent contractor. Nothing
contained herein will in any way constitute any association, partnership, or joint venture between the parties hereto, or be construed to evidence the intention of the Parties to establish any such relationship. Neither Party will have the power to
bind the other Party or incur obligations on the other Party’s behalf without the other Party’s prior written consent. 
 33.9
Effective as of the Amendment Effective Date, this Agreement supersedes and replaces the Original Agreement. 
 33.10 This Agreement may be
executed in counterparts, each of which shall be deemed an original, but both of which together shall constitute one and the same instrument. For purposes of executing this Agreement, a facsimile (including a PDF image delivered via email) copy of
this Agreement, including the signature pages, will be deemed an original. The parties agree that neither party will have any rights to challenge the use or authenticity of a counterpart of this Agreement based solely on that its signature, or
the signature of the other party, on such counterpart is not an original signature. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
  

40 

 IN WITNESS WHEREOF, both The Regents and the Licensee have executed this Agreement by their
respective and duly authorized officers on the day and year written. 
  

									
	PRINCIPIA BIOPHARMA INC. 	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 
					
	By:	 	 /s/ Martin Babler
	 		 	By:	 	 /s/ Sunita Rajden

		 	(Signature)	 		 		 	(Signature)
					
	Name:	 	 Martin Babler
	 		 	Name:	 	 Sunita Rajden

		 	(Please Print)	 		 		 	(Please Print)
					
	Title:	 	CEO	 		 	Title:	 	Associate Director, Technology Management
					
	Date:	 	Dec 5, 2013	 		 	Date:	 	Dec 6, 2013

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 APPENDIX A 

OTM CASE NO. SF2011-045 CONSENT TO SUBSTITUTION OF PARTY 

This substitution of parties (“Agreement”) is effective this         day of
        , 20    , among The Regents of the University of California (“The Regents”), a California corporation, having its statewide administrative offices at 1111 Franklin Street,
12th Floor, Oakland, California 94607-5200 and acting through its Office of Technology Management, University of California San Francisco (“UCSF”), 185 Berry Street, Suite 4603, San Francisco, California 94107; PRINCIPIA BIOPHARMA INC.
(“Principia”), a                      corporation, having a principal place of business at 400 East Jamie Court, Suite 302, South San
Francisco, California 94080; and [new licensee name] [(“YYY”)] a                          corporation, having a
principal place of business at                             . 

BACKGROUND 
 A. The Regents
and Principia entered into a License Agreement effective                      (OTM Case No.
        -        -            ), entitled
                         (“License Agreement”), wherein Principia was granted certain rights. 

B. Principia desires that [YYY] be substituted as Licensee (defined in the License Agreement) in place of Principia, and The Regents is
agreeable to such substitution. 
 C. [YYY] has read the License Agreement and agrees to abide by its terms and conditions. 

The parties agree as follows: 
 1.
[YYY] assumes all liability and obligations under the License Agreement and is bound by all its terms in all respects as if it were the original Licensee of the License Agreement in place of Principia. 

2. [YYY] is substituted for Principia, provided that [YYY] assumes all liability and obligations under the License Agreement as if [YYY] were
the original party named as Licensee as of the effective date of the License Agreement. 
 3. The Regents releases Principia from all
liability and obligations under the License Agreement arising before or after the effective date of this Agreement. 
 The parties have
executed this Agreement in triplicate originals by their respective authorized officers on the following day and year. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

1 

									
	PRINCIPIA BIOPHARMA INC. 	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 
					
	By:	 	  
	 		 	By:	 	  

		 	(Signature)	 		 		 	(Signature)
					
	Name:	 	  
	 		 	Name:	 	  

		 	(Please Print)	 		 		 	(Please Print)
					
	Title:	 	  
	 		 	Title:	 	Director,
		 		 		 		 	Office of Technology Management
					
	Date:	 	  
	 		 	Date:	 	  

  

			
	[YYY] COMPANY
		
	By:	 	  

		 	(Signature)
		
	Name:	 	  

		 	(Please Print)
		
	Title:	 	  

		
	Date:	 	  

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

2 

 APPENDIX B 

MATERIAL TRANSFER AGREEMENT 

Re:     UCSF Docket SF2011-045, [“Inverted Inhibitors”] 

The Regents of the University of California, acting on behalf of the University of California, San Francisco (“UCSF”), agrees to provide
                     having a business address at
                     (“RECIPIENT”) with certain research material requested by RECIPIENT for use by its scientist,
                         (“Scientist”), subject to the terms and conditions set forth in this Material Transfer
Agreement (the “Agreement”). 
 1. The Agreement applies to the transfer of the
                     compounds and to any progeny, unmodified derivatives, or portions thereof (collectively, the “Material”) for use only
in scientific research relating to the study of                          (the “Research”). The Material is being made
available by Dr. Jack Taunton (“Investigator”) a Howard Hughes Medical Institute (“HHMI”) investigator and resulted from research conducted by Investigator at UCSF. 

2. Legal title to the Material shall be unaffected by this Agreement or the transfer made hereunder, and nothing in the Agreement grants RECIPIENT any rights
under any patents nor any rights to use the Material or any product(s) or process(es) derived from or with the Material for profit-making or commercial purposes. Nothing in this Agreement shall alter any rights the U.S. Government may have with
respect to the Material. Except as otherwise provided in paragraph 10 of this Agreement, RECIPIENT and Scientist shall maintain the confidentiality of UCSF’s proprietary information relating to the Material. RECIPIENT will hold the Material in
trust solely for the purposes set forth in this Agreement. 
 3. UCSF has filed patent applications covering inventions relating to the Material. The
Material is the subject of U.S. Patent Application Number [*] and assigned to The Regents of the University of California and Principia Biopharma and are the subjects of an exclusive license agreement with Principia Biopharma. 

4. The transfer of the Material constitutes a non-exclusive license to use the Material solely for the internal
scientific research of RECIPIENT. This Agreement does not restrict UCSF’s rights to distribute the Material to other commercial or non-commercial entities. RECIPIENT agrees to negotiate in good faith a
license with UCSF or UCSF’s exclusive licensee prior to making any profit-making or commercial use of the Material or any product(s) or process(es) derived from or incorporating the Material, including the screening of drug candidates. UCSF
shall have no obligation to grant such a license to RECIPIENT. 
 5. The Material is provided to RECIPIENT for use in animals or in vitro. The Material will
not be used in humans, including for purposes of diagnostic testing. 
 6. Any party may terminate this Agreement at any time in which case RECIPIENT will
discontinue within thirty days its use of the Material until such time as a new agreement between and among the parties is established. If no new agreement is established within sixty days, RECIPIENT agrees, upon direction of UCSF, to return or
destroy the Material. The provisions of 

  
 [  ] = Certain confidential
information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
paragraphs 2 and 4, above, (except for the non-exclusive license) shall survive any termination of this Agreement. For the avoidance of doubt, surviving
any termination or expiration of this Agreement (unless provided otherwise by UCSF and RECIPIENT), is the agreement by RECIPIENT that RECIPIENT shall not use the Material or any product(s) or process(es) derived from or with the Material if for
profit-making or commercial purposes. 
 7. Neither Scientist nor RECIPIENT nor any other person authorized to use the Material under the Agreement shall
make available the Material or any portion of the Material to any person or entity other than laboratory personnel under the Scientist’s immediate and direct control. No person authorized to use the Material shall be allowed to take or send the
Material to any location other than the Scientist’s laboratory without UCSF’s prior written consent. 
 8. The Material is experimental in nature
and shall be used with prudence and appropriate caution, since not all of its characteristics are known. THE MATERIAL IS PROVIDED WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. UCSF
AND HHMI MAKE NO REPRESENTATION OR WARRANTY THAT THE USE OF THE MATERIAL WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 
 9. If the Scientist and
RECIPIENT wish to publish results of the Research, Scientist or RECIPIENT will furnish UCSF with a copy of the manuscript or abstract disclosing such results prior to submission thereof to any publisher not less than thirty (30) days prior to
publication to allow UCSF opportunity to protect proprietary or intellectual property relating to the Material that might be contained in such disclosure. The RECIPIENT shall notify UCSF promptly after filing any patent applications claiming
inventions made in the course of using the Material, and UCSF shall have the right to notify Principia Biopharma of such filings. 
 10. Scientist and
RECIPIENT shall acknowledge UCSF as the source of the Material in any publication of Research results. 
 11. The RECIPIENT shall, at the request of the
UCSF, return or destroy all unused Material. 
 12. In no event shall UCSF or HHMI be liable for any use by Scientist or RECIPIENT of the Material or for any
loss, claim, damage, or liability, of any kind or nature, that may arise from or in connection with this Agreement or the use, handling, or storage of the Material. The RECIPIENT hereby agrees to defend, indemnify and hold harmless HHMI, UCSF and
UCSF’s trustees, regents, officers, agents, and employees from any liability, claim, loss, or damage of whatsoever kind or nature that they may suffer as a result of claims, demands, costs, or judgments against them arising out of the use or
disposition of the Material by the Scientist or the RECIPIENT. 
 13. Scientist and RECIPIENT will use the Material in compliance with all laws, governmental
regulations and guidelines, including without limitation current NIH guidelines and any regulations or guidelines pertaining to research with recombinant DNA, that may be applicable to the Material. 

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

4 

 14. This Agreement is not assignable. 

15. This Agreement shall be governed by California State law. The parties hereby submit to the exclusive jurisdiction of the courts of the State of California
in all matters concerning this Agreement. 
  

	
	AGREED AND ACCEPTED:
	
	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
	
	Signature:
	
	Name:
	
	Title:
	
	Date:
	
	RECIPIENT:
	[Note: must be signed by authorized officer]
	
	By:
	
	Name:
	
	Title:
	
	Date:
	
	RECIPIENT SCIENTIST
	
	By:
	
	Name:
	
	Date:

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

5EX-10.16

 Exhibit 10.16 

LEASE AGREEMENT 
 THIS
LEASE AGREEMENT (this “Lease”) is made this 1st day of May, 2011, between ARE-EAST JAMIE COURT, LLC, a Delaware limited
liability company (“Landlord”), and PRINCIPIA BIOPHARMA INC., a Delaware corporation (“Tenant”). 
  

			
	 Address:
	  	400 East Jamie Court, South San Francisco, California
		
	 Premises:
	  	That portion of the third floor of the Project, containing approximately 16,751 rentable square feet, as determined by Landlord, as shown on Exhibit A.
		
	Project:	  	The real property on which the building (the “Building”) in which the Premises are located, together with all improvements thereon and appurtenances thereto as described on Exhibit B.

  

					
	 Base Rent:
	  	Months 1 – 12:	  	$[•] per rentable square foot of the Premises per month
		  	 Months 13 – 24:
	  	$[•] per rentable square foot of the Premises per month
		  	Months 25 – 36:	  	$[•] per rentable square foot of the Premises per month

 Rentable Area of Premises: 16,751 sq. ft. 

Rentable Area of Building: 88,519 sq. ft. 

Building’s Share of Project: 54.20% 
 Rentable
Area of Project: 163,307 sq. ft. 
 Tenant’s Share of Operating Expenses for the Building: 18.92% 

Tenant’s Share of Operating Expenses for the Project: 10.26% 

Security Deposit: $[•] 
  

 

			
	Target Commencement Date:	  	October 1, 2011; provided, however, that the Target Commencement Date shall be extended 1 day for each day after May 2, 2011, that this Lease is not executed and delivered by Tenant to Landlord for execution.
		
	Base Term:	  	Beginning on the Commencement Date and ending 36 months from the first day of the first full month of the Term (as defined in Section 2) hereof.
		
	Permitted Use:	  	Research and development laboratory, related office and other related uses consistent with the character of the Project and otherwise in compliance with the provisions of Section 7 hereof.

  

					
	Address for Rent Payment:
P.O. Box 975383
Dallas, TX 75397-5383	  	Landlord’s Notice Address:
385 E. Colorado Boulevard, Suite 299
Pasadena, CA 91101
Attention: Corporate Secretary	  	

  

	
	Tenant’s Notice Address:
400 E. Jamie Court, Third Floor
South San Francisco, California 94080
Attention: Lease Administrator

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Net Multi-Tenant Laboratory	  	400 E. Jamie Court/Principia - Page 
 2

  

 The following Exhibits and Addenda are attached hereto and incorporated herein by this reference: 

 

			
	 [X] EXHIBIT A - PREMISES DESCRIPTION
	  	 [X] EXHIBIT B - DESCRIPTION OF PROJECT

	 [X] EXHIBIT C - WORK LETTER
	  	 [X] EXHIBIT D - COMMENCEMENT DATE

	[X] EXHIBIT E - RULES AND REGULATIONS	  	[X] EXHIBIT F - TENANT’S PERSONAL PROPERTY
	[X] EXHIBIT G – SPACE PLAN	  	

 1. Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord hereby leases
the Premises to Tenant and Tenant hereby leases the Premises from Landlord. The portions of the Project which are for the non-exclusive use of tenants of the Project are collectively referred to herein as the
“Common Areas.” Landlord reserves the right to modify Common Areas, provided that such modifications do not materially adversely affect Tenant’s use of the Premises for the Permitted Use. 

2. Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or
before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss
or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant
Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions
of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used
herein, the terms “Landlord’s Work,” “Tenants’ Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If
Tenant does not elect to void this Lease within 5 business days of the lapse of such 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. 

The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the
date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Landlord shall endeavor to deliver to Tenant a construction schedule which provides
Tenant at least 90 days advance notice of the date that Landlord expects Landlord’s Work to be Substantially Completed. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the
expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such
acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to
Section 40 hereof. 
 Except as set forth in the Work Letter and this Lease: (i) Tenant shall accept the
Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and
(iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. 

Subject to the provisions of Section 6 of the Work Letter, Landlord shall permit Tenant access to the Premises
commencing on the date that is 30 days prior to the Commencement Date, for Tenant’s installation and set up of its furniture, fixtures and equipment (“FF&E Installation”), provided that such FF&E Installation is
coordinated with Landlord, and Tenant complies with the Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours. Any occupancy of the Premises by Tenant before the
Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Net Multi-Tenant Laboratory	  	400 E. Jamie Court/Principia - Page 
 3

  

 For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its
sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was
responsible for the cause of such repair, in which case Tenant shall pay the cost. 
 Except as otherwise set forth in this Lease, Tenant
agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project
for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject
matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s
representations, warranties, acknowledgments and agreements contained herein. 
 3. Rent. 

(a) Base Rent. The first month’s Base Rent and the Security Deposit shall be due and payable on delivery of an executed copy of
this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month during the
Term hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent
for any fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abate,
reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. 

Notwithstanding anything to the contrary contained herein, Tenant shall be required to pay Base Rent with respect to only (i) 10,000 rentable
square feet of the Premises commencing on the Commencement Date through the expiration of the 12th month of the Base Term, and (ii) 14,000 rentable square feet of the Premises commencing on the
first day of the 13th month of the Base Term through the expiration of the 24th month of the Base Term. Tenant shall commence paying Base Rent
with respect to the entire Premises on the first day of the 25th month of the Base Term. 

(b) Additional Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”):
(i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation,
any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period. 

4. Base Rent Adjustments. Base Rent shall be increased during the Base Term as provided for in the schedule set forth on page 1 of this
Lease. Base Rent adjustments for any fractional calendar month shall be prorated. 
 5. Operating Expense Payments. Landlord shall
deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time (but not more than twice) during such calendar year.
During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated. 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Net Multi-Tenant Laboratory	  	400 E. Jamie Court/Principia - Page 
 4

  

 Notwithstanding anything to the contrary contained herein, Tenant shall be required to pay
Operating Expenses with respect to only 10,000 rentable square feet of the Premises commencing on the Commencement Date through the expiration of the 6th month of the Base Term. During such
period, Tenant’s Share of Operating Expenses for the Building shall be 11.3%. Tenant shall commence paying Operating Expenses with respect to the entire Premises on the first day of the 7th
month of the Base Term. 
 The term “Operating Expenses” means all costs and expenses of any kind or description whatsoever
incurred or accrued each calendar year by Landlord with respect to the Building (including the Building’s Share of all costs and expenses of any kind or description incurred or accrued by Landlord with respect to the Project which are not
specific to the Building or any other building located in the Project) (including, without duplication, Taxes (as defined in Section 9), reasonable reserves consistent with good business practice for future repairs and
replacements, capital repairs and improvements amortized over the lesser of 10 years and the useful life of such capital items, and the costs of Landlord’s third party property manager or, if there is no third party property manager,
administration rent in the amount of [•]% of Base Rent), excluding only: 
 (a) the original design and/or construction costs of the
Project and renovation prior to the date of the Lease and costs of correcting defects in such original construction or renovation; 
 (b)
capital expenditures for expansion of the Project; 
 (c) interest, principal payments of Mortgage (as defined in
Section 27) debts of Landlord, financing costs and amortization of funds borrowed by Landlord, whether secured or unsecured, and all payments of base rent (but not taxes or operating expenses) under any ground lease or
other underlying lease of all or any portion of the Project); 
 (d) depreciation of the Project (except for capital improvements, the cost
of which are includable in Operating Expenses and amortized as provided above); 
 (e) advertising, legal and space planning expenses and
leasing commissions and other costs and expenses incurred in procuring and leasing space to tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances for tenants and signage costs incurred
with respect to other tenants of the Project; 
 (f) legal and other expenses incurred in the negotiation or enforcement of leases; 

(g) completing, fixturing, improving, renovating, painting, redecorating or other work, which Landlord pays for or performs for other tenants
within their premises, and costs of correcting defects in such work; 
 (h) costs to be reimbursed by other tenants of the Project or Taxes
to be paid directly by Tenant or other tenants of the Project, whether or not actually paid; 
 (i) salaries, wages, benefits and other
compensation paid to officers and employees of Landlord who are not assigned in whole or in part to the operation, management, maintenance or repair of the Project; 

(j) general organizational, administrative and overhead costs relating to maintaining Landlord’s existence, either as a corporation,
partnership, or other entity, including general corporate, legal and accounting expenses; 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Net Multi-Tenant Laboratory	  	400 E. Jamie Court/Principia - Page 
 5

  

 (k) costs (including attorneys’ fees and costs of settlement, judgments and payments in
lieu thereof) incurred in connection with disputes with tenants, other occupants, or prospective tenants, and costs and expenses, including legal fees, incurred in connection with negotiations or disputes with employees, consultants, management
agents, leasing agents, purchasers or mortgagees of the Building; 
 (l) costs (including attorneys’ fees and costs of settlement,
judgments and payments in lieu thereof) incurred by Landlord due to the violation by Landlord, its employees, agents or contractors or any tenant of the terms and conditions of any lease of space in the Project or any Legal Requirement (as defined
in Section 7); 
 (m) penalties, fines or interest incurred as a result of Landlord’s inability or failure to
make payment of Taxes and/or to file any tax or informational returns when due, or from Landlord’s failure to make any payment of Taxes required to be made by Landlord hereunder before delinquency; 

(n) costs of goods and/or services in, for or to the Project paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or
services in, for or to the Project to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis; 

(o) costs of Landlord’s charitable or political contributions, or of fine art maintained at the Project; 

(p) costs in connection with services (including electricity), items or other benefits of a type which are not standard for the Project and
which are not available to Tenant without specific charges therefor, but which are provided to another tenant or occupant of the Project, whether or not such other tenant or occupant is specifically charged therefor by Landlord; 

(q) costs incurred in the sale or refinancing of the Project; 

(r) net income taxes of Landlord or the owner of any interest in the Project, franchise, capital stock, gift, estate or inheritance taxes or
any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein; 
 (s) any costs
incurred to remove, study, test, remediate or otherwise related to the presence of Hazardous Materials in or about the Building or the Project, which Hazardous Materials Tenant proves (i) existed prior to the Commencement Date,
(ii) originated from any separately demised tenant space within the Project other than the Premises or (iii) were not brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Project by Tenant
or any Tenant Party (as herein defined); 
 (t) costs of repairs and other work occasioned by fire, windstorm, or other casualty for which
Landlord is reimbursed by insurance or for which Landlord would have been reimbursed by insurance if Landlord failed to maintain the insurance which Landlord is required to maintain under this Lease; 

(u) any expenses otherwise includable within Operating Expenses to the extent actually reimbursed by persons other than tenants of the Project
under leases for space in the Project. 
 Within 90 days after the end of each calendar year (or such longer period as may be reasonably
required), Landlord shall furnish to Tenant a statement (an “Annual Statement”) showing in reasonable detail: (a) the total and Tenant’s Share of actual Operating Expenses for the previous calendar year, and (b) the
total of Tenant’s payments in respect of Operating Expenses for such year. If Tenant’s Share of actual Operating Expenses for such year exceeds Tenant’s payments of Operating Expenses for such year, the excess shall be due and payable
by Tenant as Rent within 30 days after delivery of such Annual Statement to Tenant. If Tenant’s payments of Operating Expenses for such year exceed Tenant’s Share of actual Operating Expenses for such year Landlord shall pay the excess to
Tenant within 30 days after delivery of such Annual Statement, except that after the expiration, or earlier termination of the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all
other amounts due Landlord. 

  

					
		  	

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 The Annual Statement shall be final and binding upon Tenant unless Tenant, within 90 days
after Tenant’s receipt thereof, shall contest any item therein by giving written notice to Landlord, specifying each item contested and the reason therefor. If, during such 90 day period, Tenant reasonably and in good faith questions or
contests the accuracy of Landlord’s statement of Tenant’s Share of Operating Expenses, Landlord will provide Tenant with access to Landlord’s books and records relating to the operation of the Project and such information as Landlord
reasonably determines to be responsive to Tenant’s questions (the “Expense Information”). If after Tenant’s review of such Expense Information, Landlord and Tenant cannot agree upon the amount of Tenant’s Share of Operating
Expenses, then Tenant shall have the right to have an independent regionally recognized public accounting firm selected by Tenant, working pursuant to a fee arrangement other than a contingent fee (at Tenant’s sole cost and expense) and
approved by Landlord (which approval shall not be unreasonably withheld or delayed), audit and/or review the Expense Information for the year in question (the “Independent Review”). The results of any such Independent Review shall be
binding on Landlord and Tenant. If the Independent Review shows that the payments actually made by Tenant with respect to Operating Expenses for the calendar year in question exceeded Tenant’s Share of Operating Expenses for such calendar year,
Landlord shall at Landlord’s option either (i) credit the excess amount to the next succeeding installments of estimated Operating Expenses or (ii) pay the excess to Tenant within 30 days after delivery of such statement, except that
after the expiration or earlier termination of this Lease or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review shows that
Tenant’s payments with respect to Operating Expenses for such calendar year were less than Tenant’s Share of Operating Expenses for the calendar year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such
statement. If the Independent Review shows that Tenant has overpaid with respect to Operating Expenses by more than [•]% then Landlord shall reimburse Tenant for all costs incurred by Tenant for the Independent Review. Operating Expenses for
the calendar years in which Tenant’s obligation to share therein begins and ends shall be prorated. Notwithstanding anything set forth herein to the contrary, if the Building is not at least [•]% occupied on average during any year of the
Term, Tenant’s Share of Operating Expenses for such year with respect to Variable Operating Expenses shall be computed as though the Building had been[•]% occupied on average during such year. “Variable Operating Expenses”
shall mean those Operating Expenses which vary by occupancy including, without limitation, electricity, trash removal and other Utilities (as defined in Section 11). 

“Tenant’s Share” shall be the percentage set forth on the first page of this Lease as Tenant’s Share as reasonably
adjusted by Landlord for changes in the physical size of the Premises or the Project occurring thereafter. Landlord may equitably increase Tenant’s Share for any item of expense or cost reimbursable by Tenant that relates to a repair,
replacement, or service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with Tenant’s occupancy or use. Base Rent, Tenant’s Share of Operating Expenses and all other amounts
payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.” 
 6. Security Deposit. Tenant
shall deposit with Landlord, upon delivery of an executed copy of this Lease to Landlord, a security deposit (the “Security Deposit”) for the performance of all of Tenant’s obligations hereunder in the amount set forth on page
1 of this Lease, which Security Deposit shall be in the form of an unconditional and irrevocable letter of credit (the “Letter of Credit”): (i) in form and substance reasonably satisfactory to Landlord, (ii) naming Landlord as
beneficiary, (iii) expressly allowing Landlord upon each occurrence of a Default (as defined in Section 20) to draw upon it at anytime from time to time by delivering to the issuer notice that Landlord is entitled to draw thereunder,
(iv) issued by an FDIC-insured financial institution reasonably satisfactory to Landlord, and (v) redeemable by presentation of a sight draft in the state of Landlord’s choice. If Tenant does not provide Landlord with a substitute
Letter of Credit complying with all of the requirements hereof at least 10 days before the stated expiration date of any then current Letter of Credit, Landlord shall have the right to draw the full amount of the current Letter of Credit and hold
the funds drawn in cash without obligation for interest thereon as the Security Deposit. The Security Deposit shall be held by Landlord as security for the performance of Tenant’s obligations under this Lease. The Security Deposit is not an
advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon each occurrence of a Default (as defined in Section 20), Landlord may use all or any part of the Security Deposit to pay
delinquent 

  

					
		  	

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payments due under this Lease, future rent damages under California Civil Code Section 1951.2, and the cost of any damage, injury, expense or liability caused by such Default, without
prejudice to any other remedy provided herein or provided by law. Landlord’s right to use the Security Deposit under thisSection 6 includes the right to use the Security Deposit to pay future rent damages following the
termination of this Lease pursuant to Section 21(c) below. Upon any use of all or any portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security Deposit to the amount set
forth on Page 1 of this Lease. Tenant hereby waives the provisions of any law, now or hereafter in force, including, without limitation, California Civil Code Section 1950.7, which provide that Landlord may claim from a security deposit only
those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for
any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. Upon bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be
deemed to be applied first to the payment of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Upon any such use of all or any portion of the Security Deposit, Tenant shall, within 5 days after demand from
Landlord, restore the Security Deposit to its original amount. If Tenant shall fully perform every provision of this Lease to be performed by Tenant, the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which
Landlord is entitled under the provisions of this Lease), shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within 90 days after the expiration or earlier termination of this Lease.

 If Landlord transfers its interest in the Project or this Lease, Landlord shall either (a) transfer any Security Deposit then held
by Landlord to a person or entity assuming Landlord’s obligations under this Section 6, or (b) return to Tenant any Security Deposit then held by Landlord and remaining after the deductions permitted herein. Upon
such transfer to and assumption by such transferee or the return of the Security Deposit to Tenant, Landlord shall have no further obligation with respect to the Security Deposit, and Tenant’s right to the return of the Security Deposit shall
apply solely against Landlord’s transferee. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Landlord’s obligation respecting the Security Deposit is that of a
debtor, not a trustee, and no interest shall accrue thereon. 
 7. Use. The Premises shall be used solely for the Permitted Use set
forth in the basic lease provisions on page 1 of this Lease, and in compliance with all laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants and restrictions now or hereafter applicable to the Premises,
and to the use and occupancy thereof, including, without limitation, the Americans With Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant thereto, “ADA”) (collectively,
“Legal Requirements” and each, a “Legal Requirement”). Tenant shall, upon 5 days’ written notice from Landlord, discontinue any use of the Premises which is declared by any Governmental Authority (as defined in
Section 9) having jurisdiction to be a violation of a Legal Requirement. Tenant will not use or permit the Premises to be used for any purpose or in any manner that would void Tenant’s or Landlord’s insurance,
increase the insurance risk, or cause the disallowance of any sprinkler or other credits. Tenant shall not permit any part of the Premises to be used as a “place of public accommodation”, as defined in the ADA or any similar legal
requirement. Tenant shall reimburse Landlord promptly upon demand for any additional premium charged for any such insurance policy by reason of Tenant’s failure to comply with the provisions of this Section or otherwise caused by Tenant’s
use and/or occupancy of the Premises. Tenant will use the Premises in a careful, safe and proper manner and will not commit or permit waste, overload the floor or structure of the Premises, subject the Premises to use that would damage the Premises
or obstruct or interfere with the rights of Landlord or other tenants or occupants of the Project, including conducting or giving notice of any auction, liquidation, or going out of business sale on the Premises, or using or allowing the Premises to
be used for any unlawful purpose. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably prevent sounds or vibrations from the Premises from extending into Common Areas, or other space in the Project.
Tenant shall not place any machinery or equipment weighing 500 pounds or more in or upon the Premises or transport or move such items through the Common Areas of the Project or in the Project elevators without the prior written consent of Landlord.
Except as may be 

  

					
		  	

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provided under the Work Letter, Tenant shall not, without the prior written consent of Landlord, use the Premises in any manner which will require ventilation, air exchange, heating, gas, steam,
electricity or water beyond the existing capacity of the Project as proportionately allocated to the Premises based upon Tenant’s Share as usually furnished for the Permitted Use. 

Landlord shall, at Landlord’s sole cost and expense, be responsible for the compliance of the Premises with Legal Requirements, including
the ADA, as of the Commencement Date. Following the Commencement Date, (i) Landlord shall, as an Operating Expense (to the extent such Legal Requirement is generally applicable to similar buildings in the area in which the Project is located)
or at Tenant’s expense (to the extent such Legal Requirement is applicable by reason of Tenant’s, as compared to other tenants of the Project, specific use of the Premises or Tenant’s alterations) make any alterations or modifications
to the Common Areas or the exterior of the Building that are required by Legal Requirements. Tenant, at its sole expense, shall make any alterations or modifications to the interior or the exterior of the Premises or the Project that are required by
Legal Requirements (including, without limitation, compliance of the Premises with the ADA) related to Tenant’s use or occupancy of the Premises. Notwithstanding any other provision herein to the contrary, Tenant shall be responsible for any
and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses incurred in investigating or resisting the same (including, without limitation, reasonable attorneys’
fees, charges and disbursements and costs of suit) (collectively,“Claims”) arising out of or in connection with Legal Requirements, and Tenant shall indemnify, defend, hold and save Landlord harmless from and against any and all
Claims arising out of or in connection with any failure of the Premises to comply with any Legal Requirement. 
 8. Holding Over. If,
with Landlord’s express written consent, Tenant retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by
Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion
or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as
Landlord may indicate, in Landlord’s sole and absolute discretion, in such written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or
earlier termination of the Term without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to [•]% of Rent in effect during the
last 30 days of the Term, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages. No holding over by Tenant, whether with or without
consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of
Rent after the expiration of the Term or earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease. 

9. Taxes. Landlord shall pay, as part of Operating Expenses, all taxes, levies, fees, assessments and governmental charges of any kind,
existing as of the Commencement Date or there after enacted (collectively referred to as “Taxes”), imposed by any federal, state, regional, municipal, local or other governmental authority or agency, including, without limitation,
quasi-public agencies (collectively, “Governmental Authority”) during the Term, including, without limitation, all Taxes: (i) imposed on or measured by or based, in whole or in part, on rent payable to (or gross receipts
received by) Landlord under this Lease and/or from the rental by Landlord of the Project or any portion thereof, or (ii) based on the square footage, assessed value or other measure or evaluation of any kind of the Premises or the Project, or
(iii) assessed or imposed by or on the operation or maintenance of any portion of the Premises or the Project, including parking, or (iv) assessed or imposed by, or at the direction of, or resulting from Legal Requirements, or
interpretations thereof, promulgated by any Governmental Authority, or (v) imposed as a license or other fee, charge, tax, or assessment on Landlord’s business or occupation of leasing space in the Project. Landlord may contest by
appropriate legal proceedings the amount, validity, or application of any Taxes or liens securing Taxes. Taxes shall not include any net 

  

					
		  	

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income taxes imposed on Landlord except to the extent such net income taxes are in substitution for any Taxes payable hereunder. Notwithstanding anything to the contrary contained herein, Taxes
shall not include any excess profit taxes, franchise taxes, transfer taxes, capital stock taxes, gift taxes, or estate, inheritance or succession taxes imposed on or payable by Landlord. If any such Tax is levied or assessed directly against Tenant,
then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing authority shall require. Tenant shall pay, prior to delinquency, any and all Taxes levied or assessed against any personal property or trade
fixtures placed by Tenant in the Premises, whether levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s personal property or trade fixtures are levied against Landlord or Landlord’s property, or if the assessed valuation
of the Project is increased by a value attributable to improvements in or alterations to the Premises, whether owned by Landlord or Tenant and whether or not affixed to the real property so as to become a part thereof, higher than the base valuation
on which Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation, to pay such Taxes.
Landlord’s reasonable determination of any excess assessed valuation shall be binding and conclusive, absent manifest error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant to Landlord immediately
upon demand. 
 10. Parking. Subject to all matters of record, Force Majeure, a Taking (as defined in Section 19 below) and the
exercise by Landlord of its rights hereunder, Tenant shall have the right, in common with other tenants of the Project pro rata in accordance with the rentable area of the Premises and the rentable areas of the Project occupied by such other
tenants, to park in those areas designated for non-reserved parking, subject in each case to Landlord’s reasonable rules and regulations, at no additional cost to Tenant. As of the date of this Lease,
Tenant’s pro rata share of parking equates to 2.8 parking stalls per 1,000 rentable square feet of the Premises. Landlord may allocate parking spaces among Tenant and other tenants in the Project pro rata as described above if Landlord
determines that such parking facilities are becoming crowded. Landlord shall not be responsible for enforcing Tenant’s parking rights against any third parties, including other tenants of the Project. 

Tenant acknowledge that there is a Preliminary Transportation Demand Management Plan, as may be amended (“TDM”) setting forth
certain requirements relating to parking and transportation demand management which are binding on tenants in the Project and agrees to comply with the requirements of the TDM. Tenant acknowledges that Operating Expenses shall include expenses and
assessments related to the TDM. 
 11. Utilities, Services. Landlord shall provide, subject to the terms of this
Section 11, water, electricity, heat, ventilation and air-conditioning (“HVAC”), light, power, sewer, and other utilities (including gas and fire sprinklers to the
extent the Project is plumbed for such services), refuse and trash collection and janitorial services (collectively, “Utilities”). Landlord shall pay, as Operating Expenses or subject to Tenant’s reimbursement obligation, for
all Utilities used on the Premises, all maintenance charges for Utilities, and any storm sewer charges or other similar charges for Utilities imposed by any Governmental Authority or Utility provider, and any taxes, penalties, surcharges or similar
charges thereon. Landlord may cause, at Landlord’s expense, any Utilities to be separately metered or charged directly to Tenant by the provider. Tenant shall pay directly to the Utility provider, prior to delinquency, any separately metered
Utilities and services which may be furnished to Tenant or the Premises during the Term. Tenant shall pay, as part of Operating Expenses, its share of all charges for jointly metered Utilities based upon consumption, as reasonably determined by
Landlord. Tenant shall not be responsible for any late fees or penalties incurred by Landlord provided that Tenant timely made its reimbursement to Landlord pursuant to this Section 11. No interruption or failure of Utilities, from any cause
whatsoever other than Landlord’s willful misconduct, shall result in eviction or constructive eviction of Tenant, termination of this Lease or the abatement of Rent. Tenant agrees to limit use of water and sewer with respect to Common Areas to
normal restroom use. Tenant shall have access to the Premises and Utilities shall be available to the Premises 24 hours per day, 7 days per week, except in the case of emergencies, as the result of Legal Requirements, the failure of any Utility
provider to provide such Utilities, the performance by Landlord or any Utility provider of any installation, maintenance or repairs, or any other temporary interruptions. Notwithstanding anything to the contrary contained herein, Tenant shall not be
required to pay Utilities associated with (i) unoccupied leasable space on the first or second floor of the Building other than Tenant’s Share of the first floor lobby, or (ii) any portion of the parking lot serving the Project in
excess of Tenant’s Share of the parking lot. 

  

					
		  	

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 Landlord’s sole obligation for either providing emergency generators or providing
emergency back-up power to Tenant shall be: (i) to provide emergency generators with not less than the capacity of the emergency generators located in the Building as of the Commencement Date, and
(ii) to contract with a third party to maintain the emergency generators as per the manufacturer’s standard maintenance guidelines. Landlord shall have no obligation to provide Tenant with operational emergency generators or back-up power or to supervise, oversee or confirm that the third party maintaining the emergency generators is maintaining the generators as per the manufacturer’s standard guidelines or otherwise. During any
period of replacement, repair or maintenance of the emergency generators when the emergency generators are not operational, including any delays thereto due to the inability to obtain parts or replacement equipment, Landlord shall have no obligation
to provide Tenant with an alternative back-up generator or generators or alternative sources of back-up power. Tenant expressly acknowledges and agrees that Landlord does not guaranty that such emergency
generators will be operational at all times or that emergency power will be available to the Premises when needed. 
 12. Alterations and
Tenant’s Property. Any alterations, additions, or improvements made to the Premises by or on behalf of Tenant, including additional locks or bolts of any kind or nature upon any doors or windows in the Premises, but excluding installation,
removal or realignment of furniture systems (other than removal of furniture systems owned or paid for by Landlord) not involving any modifications to the structure or connections (other then by ordinary plugs or jacks) to Building Systems( as
defined in Section 13) (“Alterations”) shall be subject to Landlord’s prior written consent, which may be given or withheld in Landlord’s sole discretion if any such Alteration affects the
structure or Building Systems and shall not be otherwise unreasonably withheld. Tenant may construct nonstructural Alterations in the Premises without Landlord’s prior approval if the aggregate cost of all such work in any 12 month period does
not exceed $[•] (a “Notice-Only Alteration”), provided Tenant notifies Landlord in writing of such intended Notice-Only Alteration, and such notice shall be accompanied by plans, specifications, work contracts and such other
information concerning the nature and cost of the Notice-Only Alteration as may be reasonably requested by Landlord, which notice and accompanying materials shall be delivered to Landlord not less than 15 business days in advance of any proposed
construction. If Landlord approves any Alterations, Landlord may impose such conditions on Tenant in connection with the commencement, performance and completion of such Alterations as Landlord may deem appropriate in Landlord’s reasonable
discretion. Any request for approval shall be in writing, delivered not less than 15 business days in advance of any proposed construction, and accompanied by plans, specifications, bid proposals, work contracts and such other information concerning
the nature and cost of the alterations as may be reasonably requested by Landlord, including the identities and mailing addresses of all persons performing work or supplying materials. Landlord’s right to review plans and specifications and to
monitor construction shall be solely for its own benefit, and Landlord shall have no duty to ensure that such plans and specifications or construction comply with applicable Legal Requirements. Tenant shall cause, at its sole cost and expense, all
Alterations to comply with insurance requirements and with Legal Requirements and shall implement at its sole cost and expense any alteration or modification required by Legal Requirements as a result of any Alterations. Tenant shall pay to
Landlord, as Additional Rent, on demand an amount equal to [•]% of all charges incurred by Tenant or its contractors or agents in connection with any Alteration to cover Landlord’s overhead and expenses for plan review, coordination,
scheduling and supervision; provided, however, that no fee shall be charged by Landlord if Landlord’s involvement is limited to the review and approval of Tenant’s plans. Before Tenant begins any Alteration, Landlord may post on and about
the Premises notices of non-responsibility pursuant to applicable law. Tenant shall reimburse Landlord for, and indemnify and hold Landlord harmless from, any expense incurred by Landlord by reason of faulty
work done by Tenant or its contractors, delays caused by such work, or inadequate cleanup. 
 Tenant shall furnish security or make other
arrangements reasonably satisfactory to Landlord to assure payment for the completion of all Alterations work free and clear of liens, and shall provide (and cause each contractor or subcontractor to provide) certificates of insurance for
workers’ compensation and other coverage in amounts and from an insurance company satisfactory to Landlord protecting 

  

					
		  	

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Landlord against liability for personal injury or property damage during construction. Upon completion of any Alterations, Tenant shall deliver to Landlord: (i) sworn statements setting
forth the names of all contractors and subcontractors who did the work and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans for any such Alteration, if the nature of such Alteration required such
plans. 
 Except for Removable Installations (as hereinafter defined), all Installations (as hereinafter defined) shall be and shall remain
the property of Landlord during the Term and following the expiration or earlier termination of the Term, shall not be removed by Tenant at any time during the Term, and shall remain upon and be surrendered with the Premises as a part thereof.
Notwithstanding the foregoing, Landlord shall, at the time its approval of any such Installation is requested, or at the time it receives notice of a Notice Only Alteration, notify Tenant that Landlord requires that Tenant remove such Installation
upon the expiration or earlier termination of the Term, in which event Tenant shall remove such Installation in accordance with the immediately succeeding sentence. Upon the expiration or earlier termination of the Term, Tenant shall remove
(i) all wires, cables or similar equipment which Tenant has installed in the Premises or in the risers or plenums of the Building, (ii) any Installations for which Landlord has given Tenant notice of removal in accordance with the
immediately preceding sentence, and (iii) all of Tenant’s Property (as hereinafter defined), and Tenant shall restore and repair any damage caused by or occasioned as a result of such removal, including, without limitation, capping off all
such connections behind the walls of the Premises and repairing any holes. During any restoration period beyond the expiration or earlier termination of the Term, Tenant shall pay Rent to Landlord as provided herein as if said space were otherwise
occupied by Tenant. 
 For purposes of this Lease, (x) “Removable Installations” means any items listed on Exhibit F
attached hereto and any items agreed by Landlord in writing to be included on Exhibit F in the future, (y) “Tenant’s Property” means Removable Installations and, other than Installations, any personal property or equipment
of Tenant that may be removed without material damage to the Premises, and (z) “Installations” means all property of any kind paid for by Landlord, all Alterations, all fixtures, and all partitions, hardware, built-in machinery, built-in casework and cabinets and other similar additions, equipment, property and improvements built into the Premises so as to become an integral part
of the Premises, including, without limitation, fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water systems, glass washing equipment, autoclaves, chillers, built-in plumbing,
electrical and mechanical equipment and systems, and any power generator and transfer switch. Notwithstanding anything to the contrary contained herein, Exhibit F (as may be amended) shall control in the event of a conflict regarding what
property may be removed by Tenant from the Premises. 
 13. Landlord’s Repairs. Landlord, as an Operating Expense (except to the
extent expressly excluded from Operating Expenses pursuant to Section 5), shall maintain all of the structural, exterior, parking and other Common Areas of the Project, including HVAC, plumbing, fire sprinklers, elevators and all other building
systems serving the Premises and other portions of the Project (“Building Systems”), in good repair, reasonable wear and tear and uninsured losses and damages caused by Tenant, or by any of Tenant’s agents, servants, employees,
invitees and contractors (collectively, “Tenant Parties”)excluded. Losses and damages caused by Tenant or any Tenant Party shall be repaired by Landlord, to the extent not covered by insurance, at Tenant’s sole cost and
expense. Landlord reserves the right to stop Building Systems services when necessary (i) by reason of accident or emergency, or (ii) for planned repairs, alterations or improvements, which are, in the reasonable judgment of Landlord,
desirable or necessary to be made, until said repairs, alterations or improvements shall have been completed. Landlord shall have no responsibility or liability for failure to supply Building Systems services during any such period of interruption;
provided, however, that Landlord shall, except in case of emergency, make a commercially reasonable effort to give Tenant 24 hours advance notice of any planned stoppage of Building Systems services for routine maintenance, repairs,
alterations or improvements. Tenant shall promptly give Landlord written notice of any repair of which Tenant becomes aware required by Landlord pursuant to this Section, after which Landlord shall make a commercially reasonable effort to effect
such repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after Tenant’s written notice of the need for

  

					
		  	

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such repairs or maintenance. Tenant waives its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and agrees that the parties’
respective rights with respect to such matters shall be solely as set forth herein. Repairs required as the result of fire, earthquake, flood, vandalism, war, or similar cause of damage or destruction shall be controlled by
Section 18. 
 14. Tenant’s Repairs. Subject to Section 13 hereof, Tenant, at
its expense, shall repair, replace and maintain in good condition all interior portions of the Premises, including, without limitation, entries, doors, ceilings, interior windows, interior walls, and the interior side of demising walls. Should
Tenant fail to make any such repair or replacement or fail to maintain the interior of the Premises, Landlord shall give Tenant notice of such failure. If Tenant fails to commence cure of such failure within 10 days of Landlord’s notice, and
thereafter diligently prosecute such cure to completion, Landlord may perform such work and shall be reimbursed by Tenant within 10 days after demand therefor; provided, however, that if such failure by Tenant creates or could create an emergency,
Landlord may immediately commence cure of such failure and shall thereafter be entitled to recover the costs of such cure from Tenant. Subject to Sections 17 and 18, Tenant shall bear the full uninsured cost of any repair or
replacement to any part of the Project that results from damage caused by Tenant or any Tenant Party and any repair that benefits only the Premises. 

15. Mechanic’s Liens. Tenant shall discharge, by bond or otherwise, any mechanic’s lien filed against the Premises or against
the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 10 days after Tenant receives written notice of the filing thereof, at Tenant’s sole cost and shall otherwise keep the Premises
and the Project free from any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to discharge any lien described herein, Landlord shall have the right, but not the obligation, to pay such
claim or post a bond or otherwise provide security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately due from Tenant as Additional Rent. If Tenant shall lease or finance the acquisition of office
equipment, furnishings, or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform Commercial Code Financing Statement filed as a matter of public record by any
lessor or creditor of Tenant will upon its face or by exhibit thereto indicate that such Financing Statement is applicable only to removable personal property of Tenant located within the Premises. In no event shall the address of the Project be
furnished on the statement without qualifying language as to applicability of the lien only to removable personal property, located in an identified suite held by Tenant. 

16. Indemnification. Tenant hereby indemnifies and agrees to defend, save and hold Landlord harmless from and against any and all Claims
for injury or death to persons or damage to property occurring within or about the Premises, arising directly or indirectly out of use or occupancy of the Premises or a breach or default by Tenant in the performance of any of its obligations
hereunder, except to the extent caused by the willful misconduct or gross negligence of Landlord. Landlord shall not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property (including, without limitation, loss of records
kept within the Premises). Tenant further waives any and all Claims for injury to Tenant’s business or loss of income relating to any such damage or destruction of personal property (including, without limitation, any loss of records). Landlord
shall not be liable for any damages arising from any act, omission or neglect of any tenant in the Project or of any other third party. 

17. Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering the full replacement
cost of the Project. Landlord shall further procure and maintain commercial general liability insurance with a single loss limit of not less than $[•] for bodily injury and property damage with respect to the Project. Landlord may, but is not
obligated to, maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to, flood, environmental hazard and earthquake, loss or failure of building equipment, errors and omissions, rental loss during
the period of repair or rebuilding, workers’ compensation insurance and fidelity bonds for employees employed to perform services and insurance for any improvements installed by Tenant or which are in addition to the standard improvements
customarily furnished by Landlord without regard to whether or not such are made a part of the Project. All such insurance shall be included as part of the Operating Expenses. The Project may be included in a blanket policy (in which case the cost
of such insurance allocable to the Project will be determined by Landlord based upon the insurer’s cost calculations). Tenant shall also reimburse Landlord for any increased premiums or additional insurance which Landlord reasonably deems
necessary as a result of Tenant’s use of the Premises. 

  

					
		  	

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 Tenant, at its sole cost and expense, shall maintain during the Term: all risk or special
form property insurance with business interruption and extra expense coverage, covering the full replacement cost of all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense; workers’ compensation
insurance with no less than the minimum limits required by law; employer’s liability insurance with such limits as required by law; and commercial general liability insurance, with a minimum limit of not less than $[•] per occurrence for
bodily injury and property damage with respect to the Premises. The commercial general liability insurance policy shall name Alexandria Real Estate Equities, Inc., and Landlord, its officers, directors, employees, managers, agents, invitees and
contractors (collectively, “Landlord Parties”), as additional insureds; insure on an occurrence and not a claims-made basis; be issued by insurance companies which have a rating of not less than policyholder rating of A and
financial category rating of at least Class VII in “Best’s Insurance Guide”; include hostile fire and contractual liability coverage; and provide primary coverage to Landlord (any policy issued to Landlord providing duplicate or
similar coverage shall be deemed excess over Tenant’s policies). Tenant shall (i) provide Landlord with advance written notice of cancellation of such commercial general liability policy, and (ii) require Tenant’s insurer to
endeavor to provide 10 days advance written notice of cancellation of such commercial general liability policy. Certificates of insurance showing the limits of coverage required hereunder and showing Landlord as an additional insured, along with
reasonable evidence of the payment of premiums for the applicable period, shall be delivered to Landlord by Tenant upon commencement of the Term and upon each renewal of said insurance. Tenant’s policy may be a “blanket policy” with
an aggregate per location endorsement which specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the policy. Tenant shall, at least 5 days prior to the expiration of such policies, furnish Landlord
with renewal certificates. 
 In each instance where insurance is to name Landlord as an additional insured, Tenant shall upon written
request of Landlord also designate and furnish certificates so evidencing Landlord as additional insured to: (i) any lender of Landlord holding a security interest in the Project or any portion thereof, (ii) the landlord under any lease
wherein Landlord is tenant of the real property on which the Project is located, if the interest of Landlord is or shall become that of a tenant under a ground or other underlying lease rather than that of a fee owner, and/or (iii) any
management company retained by Landlord to manage the Project. 
 The property insurance obtained by Landlord and Tenant shall include a
waiver of subrogation by the insurers and all rights based upon an assignment from its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers, agents, invitees and contractors (“Related
Parties”), in connection with any loss or damage thereby insured against. Neither party nor its respective Related Parties shall be liable to the other for loss or damage caused by any risk insured against under property insurance required
to be maintained hereunder, and each party waives any claims against the other party, and its respective Related Parties, for such loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord and its respective
Related Parties shall not be liable for, and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting from any accident or
occurrence in or upon the Premises or the Project from any cause whatsoever. If the foregoing waivers shall contravene any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed not released but shall be
secondary to the other’s insurer. 
 Landlord may require insurance policy limits to be raised to conform with requirements of
Landlord’s lender and/or to bring coverage limits to levels then being generally required of new tenants within the Project; provided, however, that the increased amount of coverage is consistent with coverage amounts then being required by
institutional owners of similar projects with tenants occupying similar size premises in the geographical area in which the Project is located. 

  

					
		  	

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 18. Restoration. If, at any time during the Term, the Project or the Premises are
damaged or destroyed by a fire or other insured casualty, Landlord shall notify Tenant within 60 days after discovery of such damage as to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as
applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 9 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is
75 days after the date of discovery of such damage or destruction. Unless Landlord so elects to terminate this Lease, Landlord shall, subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating
Expense), promptly restore the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant), subject to delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any
license, clearance or other authorization of any kind required to enter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or
remediation of Hazardous Materials (as defined in Section 30) in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided, however, that if
repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and
restoration, or Tenant may by written notice to Landlord delivered within 5 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall be
relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the later of: (i) discovery of such damage or destruction, or (ii) the date all required Hazardous Materials
Clearances are obtained, but Landlord shall retain any Rent paid and the right to any Rent payable by Tenant prior to such election by Landlord or Tenant. 

Tenant, at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure (as
defined in Section 34) events or to obtain Hazardous Material Clearances, all repairs or restoration not required to be done by Landlord. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease,
upon written notice to the non-terminating party, if the Premises are damaged during the last 1 year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage;
provided, however, that such notice is delivered 15 business days after the date that Landlord provides Tenant with written notice of the estimated Restoration Period. Landlord shall also have the right to terminate this Lease if insurance proceeds
are not available for such restoration. Rent shall be abated from the date all required Hazardous Material Clearances are obtained until the Premises are repaired and restored, in the proportion which the area of the Premises, if any, which is not
usable by Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that is suitable in Tenant’s commercially reasonable judgment for the temporary conduct of Tenant’s
business. Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives any right to terminate the Lease by reason of damage or casualty loss. 

The provisions of this Lease, including this Section 18, constitute an express agreement between Landlord and Tenant
with respect to any and all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or regulation which is now or may hereafter be in effect shall have no application to this Lease or any
damage or destruction to all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this Section 18sets forth their entire understanding and agreement with respect to
such matters. 
 19. Condemnation. If the whole or any material part of the Premises or the Project is taken for any public or
quasi-public use under governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking” or “Taken”), and the Taking would in Landlord’s reasonable
judgment, either prevent or materially interfere with Tenant’s use of the Premises or materially interfere with or impair Landlord’s ownership or operation of the Project, then upon written notice by Landlord this Lease shall terminate and
Rent shall be apportioned as of said date. If part of the Premises shall be Taken, and this Lease is not terminated as provided above, Landlord shall promptly restore the Premises and the Project as nearly as is commercially reasonable under the
circumstances to their 

  

					
		  	

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condition prior to such partial Taking and the rentable square footage of the Building, the rentable square footage of the Premises, Tenant’s Share of Operating Expenses and the Rent payable
hereunder during the unexpired Term shall be reduced to such extent as may be fair and reasonable under the circumstances. Upon any such Taking, Landlord shall be entitled to receive the entire price or award from any such Taking without any payment
to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award. Tenant shall have the right, to the extent that same shall not diminish Landlord’s award, to make a separate claim against the condemning authority
(but not Landlord) for such compensation as may be separately awarded or recoverable by Tenant for moving expenses and damage to Tenant’s trade fixtures, if a separate award for such items is made to Tenant. Tenant hereby waives any and all
rights it might otherwise have pursuant to any provision of state law to terminate this Lease upon a partial Taking of the Premises or the Project. 

20. Events of Default. Each of the following events shall be a default (“Default”) by Tenant under this Lease: 

(a) Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that
Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of such notice not more than once in any 12 months period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be
deemed to be, any notice required by law. 
 (b) Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease
shall be canceled or terminated or shall expire or shall be reduced or materially changed, or Landlord shall receive a notice of non renewal of any such insurance and Tenant shall fail to obtain replacement insurance at least 20 days before the
expiration of the current coverage. 
 (c) Abandonment. Tenant shall abandon the Premises for a period in excess of 10 consecutive
business days. Tenant shall not be deemed to have abandoned the Premises if (i) Tenant provides Landlord with reasonable advance notice prior to vacating and, at the time of vacating the Premises, Tenant completes Tenant’s obligations with
respect to the Surrender Plan in compliance with Section 28, (ii) Tenant has made reasonable arrangements with Landlord for the security of the Premises for the balance of the Term, and (Hi) Tenant continues during the balance of the Term to
satisfy all of its obligations under the Lease as they come due. 
 (d) Improper Transfer. Tenant shall assign, sublease or otherwise
transfer or attempt to transfer all or any portion of Tenant’s interest in this Lease or the Premises except as expressly permitted herein, or Tenant’s interest in this Lease shall be attached, executed upon, or otherwise judicially seized
and such action is not released within 90 days of the action. 
 (e) Liens. Tenant shall fail to discharge or otherwise obtain the
release of any lien placed upon the Premises in violation of this Lease within 10 days after any such lien is filed against the Premises. 

(f) Insolvency Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder shall: (A) make a general
assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property (collectively a
“Proceeding for Relief”); (C) become the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry; or (D) die or suffer a legal disability (if Tenant, guarantor, or surety is an
individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity). 

  

					
		  	

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 (g) Estoppel Certificate or Subordination Agreement. Tenant fails to execute any
document required from Tenant under Sections 23 or 27 within 5 days after a second notice requesting such document. 
 (h)
Other Defaults. Tenant shall fail to comply with any provision of this Lease other than those specifically referred to in this Section 20, and, except as otherwise expressly provided herein, such failure shall
continue for a period of 30 days after written notice thereof from Landlord to Tenant; provided that if the nature of Tenant’s default pursuant to this Section 20(h) is such that it cannot be cured by the payment of money and reasonably
requires more than 30 days to cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said 30 day period and thereafter diligently prosecutes the same to completion; provided, however, that such cure shall be
completed no later than 45 days from the date of Landlord’s notice. 
 Any notice given under Section 20(h) hereof shall:
(i) specify the alleged default, (ii) demand that Tenant cure such default, (iii) be in lieu of, and not in addition to, or shall be deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed
a forfeiture or a termination of this Lease unless Landlord elects otherwise in such notice; provided that if the nature of Tenant’s default pursuant to Section 20(h) is such that it cannot be cured by the
payment of money and reasonably requires more than 30 days to cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said 30 day period and thereafter diligently prosecutes the same to completion;
provided, however, that such cure shall be completed no later than 60 days from the date of Landlord’s notice. 
 21.
Landlord’s Remedies. 
 (a) Payment By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without
waiving or releasing any obligation of Tenant hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to
[•]% per annum or the highest rate permitted by law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to
mitigate any damages resulting from Tenant’s Default hereunder. 
 (b) Late Payment Rent. Late payment by Tenant to Landlord of
Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting
charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay
to Landlord an additional sum equal to [•]% of the overdue Rent as a late charge. Notwithstanding the foregoing, before assessing a late charge the first time in any calendar year, Landlord shall provide Tenant written notice of the delinquency
and will waive the right if Tenant pays such delinquency within 5 days thereafter. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to
the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. 
 (c)
Remedies. Upon the occurrence of a Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one
or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever. 

(i) Terminate this Lease, or at Landlord’s option, Tenant’s right to possession only, in which event Tenant shall
immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Premises and expel or
remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim or damages therefor; 

  

					
		  	

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 (ii) Upon any termination of this Lease, whether pursuant to the foregoing
Section 21(c)(i) or otherwise, Landlord may recover from Tenant the following: 
 (A) The worth at
the time of award of any unpaid rent which has been earned at the time of such termination; plus 
 (B) The worth at the time
of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(C) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award
exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 
 (D) Any other amount
necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically including, but
not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion thereof for anew tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant;
and 
 (E) At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted
from time to time by applicable law. 
 The term “rent” as used in this Section 21 shall be deemed to be and to
mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall
be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal
Reserve Bank of San Francisco at the time of award plus [•]%. 
 (iii) Landlord may continue this Lease in effect after
Tenant’s Default and recover rent as it becomes due (Landlord and Tenant hereby agreeing that Tenant has the right to sublet or assign hereunder, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this
Lease following a Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due. 

(iv) Whether or not Landlord elects to terminate this Lease following a Default by Tenant, Landlord shall have the right to
terminate any and all subleases, licenses, concessions or other consensual arrangements for possession entered into by Tenant and affecting the Premises or may, in Landlord’s sole discretion, succeed to Tenant’s interest in such subleases,
licenses, concessions or arrangements. Upon Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions or arrangements, Tenant shall, as of the date of notice by Landlord of such election, have no
further right to or interest in the rent or other consideration receivable thereunder. 
 (v) Independent of the exercise of
any other remedy of Landlord hereunder or under applicable law, Landlord may conduct an environmental test of the Premises as generally described in Section 30(d) hereof, at Tenant’s expense. 

  

					
		  	

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 (d) Effect of Exercise. Exercise by Landlord of any remedies hereunder or otherwise
available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, it being understood that such surrender and/or termination can be effected only by the express written agreement of
Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to
enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same and
shall not be deemed a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of Rent or other payment with knowledge of the breach of any covenant hereof shall not be
deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of
notice of Landlord’s intention to re-enter, re-take or otherwise obtain possession of the Premises as provided in any statute, or to institute legal proceedings to
that end, and also waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge. Any reletting of the Premises or any portion thereof shall be on such terms and conditions as Landlord in its
sole discretion may determine. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of such reletting or otherwise to
mitigate any damages arising by reason of Tenant’s Default. 
 22. Assignment and Subletting. 

(a) General Prohibition. Without Landlord’s prior written consent subject to and on the conditions described in this
Section 22, Tenant shall not, directly or indirectly, voluntarily or by operation of law, assign this Lease or sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or grant
any concession or license within the Premises, and any attempt to do any of the foregoing shall be void and of no effect. If Tenant is a corporation, partnership or limited liability company, the shares or other ownership interests thereof which are
not actively traded upon a stock exchange or in the over-the-counter market, a transfer or series of transfers whereby 50% or more of the issued and outstanding shares
or other ownership interests of such corporation are, or voting control is, transferred (but excepting transfers upon deaths of individual owners) from a person or persons or entity or entities which were owners thereof at time of execution of this
Lease to persons or entities who were not owners of shares or other ownership interests of the corporation, partnership or limited liability company at time of execution of this Lease, shall be deemed an assignment of this Lease requiring the
consent of Landlord as provided in this Section 22. Notwithstanding the foregoing, Tenant shall have the right to obtain financing from institutional investors (including venture capital funding and corporate partners)
which regularly invest in private biotechnology companies or undergo a public offering which results in a change in control of Tenant without such change of control constituting an assignment under this Section 22 requiring Landlord consent,
provided that (i) Tenant notifies Landlord in writing of the financing at least 5 business days prior to the closing of the financing, and (ii) provided that in no event shall such financing result in a change in use of the Premises from
the use contemplated by Tenant at the commencement of the Term. 
 (b) Permitted Transfers. If Tenant desires to assign, sublease,
hypothecate or otherwise transfer this Lease or sublet the Premises, other than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 45 business days, before the date Tenant desires the assignment
or sublease to be effective (the “Assignment Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the proposed assignee or sublessee, including the proposed use of
the Premises and any Hazardous Materials proposed to be used, stored handled, treated, generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the proposed assignee or sublessee, and all
material terms and conditions of the proposed assignment or sublease, including a copy of any proposed assignment or sublease in its final form, and such other information as Landlord may deem reasonably necessary or appropriate to its consideration
whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business days after receipt of the Assignment Notice: (i) grant such consent, 

  

					
		  	

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(ii) refuse such consent, in its reasonable discretion; or (iii) if the sublease or assignment affects all or substantially all of the Premises for the remainder of the Term, terminate this
Lease with respect to the space described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”). Among other reasons, it shall be reasonable for Landlord to withhold its consent in any of these instances:
(1) the proposed assignee or subtenant is a governmental agency; (2) in Landlord’s reasonable judgment, the use of the Premises by the proposed assignee or subtenant would entail any alterations that would lessen the value of the
leasehold improvements in the Premises, or would require increased services by Landlord; (3) in Landlord’s good faith reasonable judgment, the proposed assignee or subtenant is engaged in areas of scientific research or other business
concerns that are controversial such that they may (i) attract or cause negative publicity for or about the Building or the Project, (ii) negatively affect the reputation of the Building, the Project or Landlord, (iii) attract protestors
to the Building or the Project, or (iv) lessen the attractiveness of the Building or the Project to any tenants or prospective tenants, purchasers or lenders; (4) the proposed assignee or subtenant lacks the creditworthiness to support the
financial obligations it will incur under the proposed assignment or sublease; (5) in Landlord’s reasonable judgment, the character, reputation, or business of the proposed assignee or subtenant is inconsistent with the desired tenant-mix or the quality of other tenancies in the Project or is inconsistent with the type and quality of the nature of the Building; (6) Landlord has received from any prior landlord to the proposed assignee
or subtenant a negative report concerning such prior landlord’s experience with the proposed assignee or subtenant; (7) Landlord has experienced previous defaults by or is in litigation with the proposed assignee or subtenant; (8) the
use of the Premises by the proposed assignee or subtenant will violate any applicable Legal Requirement; (9) the proposed assignee or subtenant, or any entity that, directly or indirectly, controls, is controlled by, or is under common control
with the proposed assignee or subtenant, is then an occupant of the Project; (10) the proposed assignee or subtenant is an entity with whom Landlord has executed a letter of intent to lease space in the Project; or (11) the assignment or
sublease is prohibited by Landlord’s lender. If Landlord delivers notice of its election to exercise an Assignment Termination, Tenant shall have the right to withdraw such Assignment Notice by written notice to Landlord of such election within
5 business days after Landlord’s notice electing to exercise the Assignment Termination. If Tenant withdraws such Assignment Notice, this Lease shall continue in full force and effect. If Tenant does not withdraw such Assignment Notice, this
Lease, and the term and estate herein granted, shall terminate as of the Assignment Date with respect to the space described in such Assignment Notice. No failure of Landlord to exercise any such option to terminate this Lease, or to deliver a
timely notice in response to the Assignment Notice, shall be deemed to be Landlord’s consent to the proposed assignment, sublease or other transfer. Tenant shall pay to Landlord a fee equal to [•] Dollars ($[•]) in connection with its
consideration of any Assignment Notice and/or its preparation or review of any consent documents. Notwithstanding the foregoing, Landlord’s consent to an assignment of this Lease or a subletting of any portion of the Premises to any entity
controlling, controlled by or under common control with Tenant (a “Control Permitted Assignment”) shall not be required, provided that Landlord shall have the right to approve the form of any such sublease or assignment. In
addition, Tenant shall have the right to assign this Lease, upon 30 days prior written notice to Landlord (unless Tenant is prohibited from providing such notice by confidentiality or Legal Requirements in which case Tenant shall notify Landlord
promptly thereafter) but without obtaining Landlord’s prior written consent, to a corporation or other entity which is a successor-in-interest to Tenant, by way of merger, consolidation or corporate
reorganization, or by the purchase of allor substantially all of the assets or the ownership interests of Tenant provided that (i) such merger or consolidation, or such acquisition or assumption, as the case may be, is for a good business
purpose and not principally for the purpose of transferring the Lease, and (ii) the net worth (as determined in accordance with generally accepted accounting principles (“GAAP”)) of the assignee is not less than the greater of
the net worth (as determined in accordance with GAAP) of Tenant as of (A) the Commencement Date, or (B) as of the date of Tenant’s most current quarterly or annual financial statements, and (iii) such assignee shall agree in
writing to assume all of the terms, covenants and conditions of this Lease arising after the effective date of the assignment (a “Corporate Permitted Assignment”). Control Permitted Assignments and Corporate Permitted Assignments
are hereinafter referred to as “Permitted Assignments.” 
 (c) Additional Conditions. As a condition to any such
assignment or subletting, whether or not Landlord’s consent is required, Landlord may require: 

  

					
		  	

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 (i) that any assignee or subtenant agree, in writing at the time of such
assignment or subletting, that if Landlord gives such party notice that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments will be received by Landlord
without any liability except to credit such payment against those due under the Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason; provided,
however, in no event shall Landlord or its successors or assigns be obligated to accept such attornment; and 
 (ii) A
list of Hazardous Materials, certified by the proposed assignee or sublessee to be true and correct, which the proposed assignee or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with
copies of all documents relating to such use, storage, handling, treatment, generation, release or disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or
subletting, including, without limitation: permits; approvals; reports and correspondence; storage and management plans; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of
tanks shall only be permitted after Landlord has given its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); and all closure plans or any other documents required by any and all federal, state
and local Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee or subtenant is required, however, to provide Landlord with anyportion(s)
of the such documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities. The provisions of this clause (ii) shall not apply if the proposed
use of the proposed assignee or sublicense is purely an office use at the time of the proposed assignment or sublease. 
 (d) No Release
of Tenant, Sharing of Excess Rents. Notwithstanding any assignment or subletting, Tenant and any guarantor or surety of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the
payment of Rent and for compliance with all of Tenant’s other obligations under this Lease. If the Rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other
consideration therefor or incident thereto in any form) exceeds the sum of rental payable under this Lease, (excluding however, any Rent payable under this Section) and actual and reasonable brokerage fees and costs related to and required pursuant
to any such sublease (“Excess Rent”), then Tenant shall be bound and obligated to pay Landlord as Additional Rent hereunder [•]% of such Excess Rent within 10 days following receipt thereof by Tenant. If Tenant shall sublet the
Premises or any part thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such subletting, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and apply it toward Tenant’s obligations under this
Lease; except that, until the occurrence of a Default, Tenant shall have the right to collect such rent. 
 (e) No Waiver. The consent
by Landlord to an assignment or subletting shall not relieve Tenant or any assignees of this Lease or any sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it release Tenant or any
assignee or sublessee of Tenant from full and primary liability under the Lease. The acceptance of Rent hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity shall not be
deemed to be a waiver of any of the provisions of this Lease or a consent to any subletting, assignment or other transfer of the Premises. 

(f) Prior Conduct of Proposed Transferee. Notwithstanding any other provision of this Section 22, if (i) the proposed assignee
or sublessee of Tenant has been required by any prior landlord, lender or Governmental Authority to take remedial action in connection with Hazardous Materials contaminating a property, where the contamination resulted from such party’s action
or use of the property in question, (ii) the proposed assignee or sublessee is subject to an enforcement order issued by any Governmental Authority in connection with the use, storage, handling, treatment, generation, release

  

					
		  	

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or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make a required reporting to any Governmental Authority), or (iii) because of the
existence of a pre-existing environmental condition in the vicinity of or underlying the Project, the risk that Landlord would be targeted as a responsible party in connection with the remediation of such pre-existing environmental condition would be materially increased or exacerbated by the proposed use of Hazardous Materials by such proposed assignee or sublessee, Landlord shall have the absolute right to refuse
to consent to any assignment or subletting to any such party. 
 23. Estoppel Certificate. Tenant shall, within 10 business days of
written notice from Landlord, execute, acknowledge and deliver a statement in writing in any form reasonably requested by a proposed lender or purchaser, (i) certifying that this Lease is unmodified and in full force and effect (or, if
modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any, (ii) acknowledging that, to
Tenant’s knowledge, there are not any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and (iii) setting forth such further information with respect to the status of this Lease or the
Premises as may be requested thereon. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement
within such time shall, at the option of Landlord, constitute a Default under this Lease, and, in any event, shall be conclusive upon Tenant that the Lease is in full force and effect and without modification except as maybe represented by Landlord
in any certificate prepared by Landlord and delivered to Tenant for execution. 
 24. Quiet Enjoyment. So long as Tenant is not in
Default under this Lease, Tenant shall, subject to the terms of this Lease, at all times during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord. 

25. Prorations. All prorations required or permitted to be made hereunder shall be made on the basis of a 360 day year and 30 day
months. 
 26. Rules and Regulations. Tenant shall, at all times during the Term and any extension thereof, comply with all reasonable
rules and regulations at any time or from time to time established by Landlord covering use of the Premises and the Project. The current rules and regulations are attached hereto as Exhibit E. If there is any conflict between said rules and
regulations and other provisions of this Lease, the terms and provisions of this Lease shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the Project and shall not
enforce such rules and regulations in a discriminatory manner. 
 27. Subordination. This Lease and Tenant’s interest and rights
hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications,
consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to
possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees, within 10 business days of written notice from
Landlord, to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time
subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and
in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term
“Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the
beneficiary under a deed of trust. 

  

					
		  	

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 28. Surrender. Upon the expiration of the Term or earlier termination of Tenant’s
right of possession, Tenant shall surrender the Premises to Landlord in the same condition as received, reasonable wear and tear excepted, subject to any Alterations or Installations permitted by Landlord to remain in the Premises, free of Hazardous
Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any person other than a Landlord Party (collectively, “Tenant HazMat Operations”) and released of all
Hazardous Materials Clearances, broom clean, ordinary wear and tear and casualty loss and condemnation covered by Sections 18 and 19 excepted. At least 3 months prior to the surrender of the Premises, Tenant shall deliver to Landlord a
narrative description of the actions proposed (or required by any Governmental Authority) to be taken by Tenant in order to surrender the Premises (including any Installations permitted by Landlord to remain in the Premises) at the expiration or
earlier termination of the Term, free from any residual impact from the Tenant HazMat Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a current
listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the
Premises, and shall be subject to the review and approval of Landlord’s environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant
such additional non-proprietary information concerning Tenant HazMat Operations as Landlord shall reasonably request. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved
Surrender Plan shall have been satisfactorily completed and Landlord shall have the right, subject to reimbursement at Tenant’s expense as set forth below, to cause Landlord’s environmental consultant to inspect the Premises and perform
such additional procedures as may be deemed reasonably necessary to confirm that the Premises are, as of the effective date of such surrender or early termination of the Lease, free from any residual impact from Tenant HazMat Operations. Tenant
shall reimburse Landlord, as Additional Rent, for the actual out-of pocket expense incurred by Landlord for Landlord’s environmental consultant to review and approve the Surrender Plan and to visit the
Premises and verify satisfactory completion of the same, which cost shall not exceed $[•]. Landlord shall have the unrestricted right to deliver such Surrender Plan and any report by Landlord’s environmental consultant with respect to the
surrender of the Premises to third parties; provided, however, that Landlord instructs such parties to treat the same as confidential. 
 If
Tenant shall fail to prepare or submit a Surrender Plan approved by Landlord, or if Tenant shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not approved by Landlord, shall fail to adequately address any
residual effect of Tenant HazMat Operations in, on or about the Premises, Landlord shall have the right to take such actions as Landlord may deem reasonable or appropriate to assure that the Premises and the Project are surrendered free from any
residual impact from Tenant HazMat Operations, the cost of which actions shall be reimbursed by Tenant as Additional Rent, without regard to the limitation set forth in the first paragraph of this Section 28. 

Tenant shall immediately return to Landlord all keys and/or access cards to parking, the Project, restrooms or all or any portion of the
Premises furnished to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s election, either the reasonable cost of replacing such lost access card or key or the reasonable cost of
reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property, Alterations and property not so removed by Tenant as permitted or required herein shall be
deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and/or disposition of such property. All
obligations of Tenant hereunder not fully performed as of the termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the expiration or earlier termination of the Term, including,
without limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning the condition and repair of the Premises. 

  

					
		  	

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 29. Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE
ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. 
 30. Environmental Requirements. 

(a) Prohibition/Compliance/Indemnity. Tenant shall not cause or permit any Hazardous Materials (as hereinafter defined) to be brought
upon, kept, used, stored, handled, treated, generated in or about, or released or disposed of from, the Premises or the Project in violation of applicable Environmental Requirements (as hereinafter defined) by Tenant or any Tenant Party. If Tenant
breaches the obligation stated in the preceding sentence, or if the presence of Hazardous Materials in the Premises during the Term or any holding over results in contamination of the Premises, the Project or any adjacent property or if
contamination of the Premises, the Project or any adjacent property by Hazardous Materials brought into, kept, used, stored, handled, treated, generated in or about, or released or disposed of from, the Premises by anyone other than Landlord and
Landlord’s employees, agents and contractors otherwise occurs during the Term or any holding over, Tenant hereby indemnifies and shall defend and hold Landlord, its officers, directors, employees, agents and contractors harmless from any and
all actions (including, without limitation, remedial or enforcement actions of any kind, administrative or judicial proceedings, and orders or judgments arising out of or resulting therefrom), costs, claims, damages (including, without limitation,
punitive damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction on, use of the Premises or any portion of the Project), expenses (including, without limitation, attorneys’,
consultants’ and experts’ fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil, administrative or criminal penalties, injunctive or other relief (whether or not based upon personal
injury, property damage, or contamination of, or adverse effects upon, the environment, water tables or natural resources), liabilities or losses (collectively, “Environmental Claims”) which arise during or after the Term as a
result of such contamination. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site conditions or any cleanup, treatment, remedial, removal, or restoration work required
by any federal, state or local Governmental Authority because of Hazardous Materials present in the air, soil or ground water above, on, or under the Premises. Without limiting the foregoing, if the presence of any Hazardous Materials on the
Premises, the Building, the Project or any adjacent property caused or permitted by Tenant or any Tenant Party results in any contamination of the Premises, the Building, the Project or any adjacent property, Tenant shall promptly take all actions
at its sole expense and in accordance with applicable Environmental Requirements as are necessary to return the Premises, the Building, the Project or any adjacent property to the condition existing prior to the time of such contamination, provided
that Landlord’s approval of such action shall first be obtained, which approval shall not unreasonably be withheld so long as such actions would not potentially have any material adverse long-term or short-term effect on the Premises, the
Building or the Project. Notwithstanding anything to the contrary contained in this Section 30, Tenant shall not be responsible for, and the indemnification and hold harmless obligation set forth in this paragraph shall not apply to
(i) contamination in the Premises which Tenant can prove to Landlord’s reasonable satisfaction existed in the Premises immediately prior to the Commencement Date, or (ii) the presence of any Hazardous Materials in the Premises which
Tenant can prove to Landlord’s reasonable satisfaction migrated from outside of the Premises into the Premises, or (iii) contamination caused by Landlord or any Landlord’s employees, agents and contractors unless in each case, the
presence of such Hazardous Materials (x) is the result of a breach by Tenant of any of its obligations under this Lease, or (y) was caused, contributed to or exacerbated by Tenant or any Tenant Party. 

(b) Business. Landlord acknowledges that it is not the intent of this Section 30 to prohibit Tenant from using
the Premises for the Permitted Use. Tenant may operate its business according to prudent industry practices so long as the use or presence of Hazardous Materials is strictly and properly monitored according to all then applicable Environmental
Requirements. As a material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to 

  

					
		  	

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deliver to Landlord prior to the Commencement Date a list identifying each type of Hazardous Materials to be brought upon, kept, used, stored, handled, treated, generated on, or released or
disposed of from, the Premises and setting forth any and all governmental approvals or permits required in connection with the presence, use, storage, handling, treatment, generation, release or disposal of such Hazardous Materials on or from the
Premises (“Hazardous Materials List”). Tenant shall deliver to Landlord an updated Hazardous Materials List at least once a year and shall also deliver an updated list before any new Hazardous Material is brought onto, kept, used,
stored, handled, treated, generated on, or released or disposed of from, the Premises. Tenant shall deliver to Landlord true and correct copies of the following documents (the “Haz Mat Documents”) relating to the use, storage,
handling, treatment, generation, release or disposal of Hazardous Materials prior to the Commencement Date, or if unavailable at that time, concurrent with the receipt from or submission to a Governmental Authority: permits; approvals; reports and
correspondence; storage and management plans, notice of violations of any Legal Requirements; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be
permitted after Landlord has given Tenant its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); all closure plans or any other documents required by any and all federal, state and local
Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks; and a Surrender Plan (to the extent surrender in accordance with Section 28 cannot be accomplished in 3
months). Tenant is not required, however, to provide Landlord with any portion(s) of the Haz Mat Documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous
activities. It is not the intent of this Section to provide Landlord with information which could be detrimental to Tenant’s business should such information become possessed by Tenant’s competitors. 

(c) Tenant Representation and Warranty. Tenant hereby represents and warrants to Landlord that (i) neither Tenant nor, to the best
of Tenant’s knowledge, any of its legal predecessors has been required by any prior landlord, lender or Governmental Authority at any time to take remedial action in connection with Hazardous Materials contaminating a property which
contamination was permitted by Tenant of such predecessor or resulted from Tenant’s or such predecessor’s action or use of the property in question, and (ii) Tenant is not subject to any enforcement order issued by any Governmental
Authority in connection with the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make a required reporting to any Governmental Authority).
If Landlord determines that this representation and warranty was not true as of the date of this lease, Landlord shall have the right to terminate this Lease in Landlord’s sole and absolute discretion. 

(d) Testing. Landlord shall have the right to conduct annual tests of the Premises to determine whether any contamination of the
Premises or the Project has occurred as a result of Tenant’s use. Tenant shall be required to pay the cost of such annual test of the Premises if there is a violation of this Section 30 or if contamination for which Tenant is responsible
under this Section 30 is identified; provided, however, that if Tenant conducts its own tests of the Premises using third party contractors and test procedures acceptable to Landlord which tests are certified to Landlord, Landlord shall accept
such tests in lieu of the annual tests to be paid for by Tenant. In addition, at any time, and from time to time, prior to the expiration or earlier termination of the Term, Landlord shall have the right to conduct appropriate tests of the Premises
and the Project to determine if contamination has occurred as a result of Tenant’s use of the Premises. In connection with such testing, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such non-proprietary information concerning the use of Hazardous Materials in or about the Premises by Tenant or any Tenant Party. If contamination has occurred for which Tenant is liable under this
Section 30 Tenant shall pay all costs to conduct such tests. If no such contamination is found, Landlord shall pay the costs of such tests (which shall not constitute an Operating Expense). Landlord shall provide Tenant
with a copy of all third party, non-confidential reports and tests of the Premises made by or on behalf of Landlord during the Term without representation or warranty and subject to a confidentiality
agreement. Tenant shall, at its sole cost and expense, promptly and satisfactorily remediate any environmental conditions identified by such testing for which Tenant is responsible under this Section 30 in accordance with all Environmental
Requirements. Landlord’s receipt of or satisfaction with any environmental assessment in no way waives any rights which Landlord may have against Tenant. 

  

					
		  	

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 (e) Control Areas. Tenant shall be allowed to utilize up to its pro rata share of
hazardous Materials inventory within any control area or zone (located within the Premises), as designated by the applicable building code, for chemical use or storage. As used in the preceding sentence, Tenant’s pro rata share of any control
areas or zones located within the Premises shall be determined based on the rentable square footage that Tenant leases within the applicable control area or zone. For purposes of example only, if a control area or zone contains 10,000 rentable
square feet and 2,000 rentable square feet of a tenant’s premises are located within such control area or zone (while such premises as a whole contains 5,000 rentable square feet), the applicable tenant’s pro rata share of such control
area would be 20%. 
 (f) Underground Tanks. If underground or other storage tanks storing Hazardous Materials located on the Premises
or the Project are used by Tenant or are hereafter placed on the Premises or the Project by Tenant, Tenant shall install, use, monitor, operate, maintain, upgrade and manage such storage tanks, maintain appropriate records, obtain and maintain
appropriate insurance, implement reporting procedures, properly close any underground storage tanks, and take or cause to be taken all other actions necessary or required under applicable state and federal Legal Requirements, as such now exists or
may hereafter be adopted or amended in connection with the installation, use, maintenance, management, operation, upgrading and closure of such storage tanks. 

(g) Tenant’s Obligations. Tenant’s obligations under this Section 30 shall survive the expiration or
earlier termination of the Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or Landlord to complete the removal from the Premises of any Hazardous Materials for which Tenant is responsible
under this Lease (including, without limitation, the release and termination of any licenses or permits restricting the use of the Premises and the completion of the approved Surrender Plan), Tenant shall continue to pay the full Rent in accordance
with this Lease for any portion of the Premises that cannot be relet by Landlord due to Tenant’s failure to complete such removal of Hazardous Materials, which Rent shall be prorated daily. 

(h) Definitions. As used herein, the term “Environmental Requirements” means all applicable present and future
statutes, regulations, ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental Authority regulating or relating to health, safety, or environmental conditions on, under, or about the Premises or the Project, or
the environment, including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and Recovery Act; and all state and local counterparts thereto, and any regulations or
policies promulgated or issued thereunder. As used herein, the term “Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant listed or defined as hazardous or toxic, or regulated by reason
of its impact or potential impact on humans, animals and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof, natural gas liquids, liquefied natural gas, or synthetic gas
usable for fuel (or mixtures of natural gas and such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of Tenant’s “facility” and the
“owner” of all Hazardous Materials brought on the Premises by Tenant or any Tenant Party, and the wastes, by-products, or residues generated, resulting, or produced therefrom. 

31. Tenant’s Remedies/Limitation of Liability. Landlord shall not be in default hereunder unless Landlord fails to perform any of
its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature of the obligation, require a period of time in excess of 30 days, then after such period of time as is
reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of a Mortgage covering the Premises and to any landlord of any lease of property in or on which the Premises are located and
Tenant shall offer such Holder and/or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Project by power of sale or a judicial action if such should prove

  

					
		  	

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necessary to effect a cure; provided Landlord shall have furnished to Tenant in writing the names and addresses of all such persons who are to receive such notices. All obligations of Landlord
hereunder shall be construed as covenants, not conditions; and, except as may be otherwise expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. 

All obligations of Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the Premises and not
thereafter. The term “Landlord” in this Lease shall mean only the owner for the time being of the Premises. Upon the transfer by such owner of its interest in the Premises, and the assumption of the successor owner of all the
liabilities and obligations of such owner thereafter accruing, such owner shall thereupon be released and discharged from all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term upon each new owner for
the duration of such owner’s ownership. 
 32. Inspection and Access. Landlord and its agents, representatives, and contractors
may enter the Premises at any reasonable time to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other business purpose. Landlord and Landlord’s representatives may enter the
Premises during business hours on not less than 48 hours advance written notice (except in the case of emergencies in which case no such notice shall be required and such entry may be at any time) for the purpose of effecting any such repairs,
inspecting the Premises, showing the Premises to prospective purchasers and, during the last year of the Term, to prospective tenants or for any other business purpose. Landlord may erect a suitable sign on the Premises stating the Premises are
available to let or that the Project is available for sale. Landlord may grant easements, make public dedications, designate Common Areas and create restrictions on or about the Premises, provided that no such easement, dedication,
designation or restriction materially, adversely affects Tenant’s use or occupancy of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such instruments as may be necessary for such easements, dedications or
restrictions, provided that such items do not impose any financial or other material burden on Tenant. Tenant shall at all times, except in the case of emergencies, have the right to escort Landlord or its agents, representatives, contractors or
guests while the same are in the Premises, provided such escort does not materially and adversely affect Landlord’s access rights hereunder. 

33. Security. Tenant acknowledges and agrees that security devices and services, if any, while intended to deter crime may not in given
instances prevent theft or other criminal acts and that Landlord is not providing any security services with respect to the Premises. Tenant agrees that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with
respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any other breach of security with respect to the Premises. Tenant shall be solely responsible for the
personal safety of Tenant’s officers, employees, agents, contractors, guests and invitees while any such person is in, on or about the Premises and/or the Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent
Tenant desires protection against such criminal acts. 
 34. Force Majeure. Landlord shall not be responsible or liable for delays in
the performance of its obligations hereunder when caused by, related to, or arising out of acts of God, sinkholes or subsidence, strikes, lockouts, or other labor disputes, embargoes, quarantines, unusual weather, national, regional, or local
disasters, calamities, or catastrophes, inability to obtain labor or materials (or reasonable substitutes therefor) at reasonable costs or failure of, or inability to obtain, utilities necessary for performance, governmental restrictions, orders,
limitations, regulations, or controls, national emergencies, delay in issuance or revocation of permits, enemy or hostile governmental action, terrorism, insurrection, riots, civil disturbance or commotion, fire or other casualty, and other causes
or events beyond the reasonable control of Landlord (“Force Majeure”). 

  

					
		  	

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 35. Brokers. Landlord and Tenant each represents and warrants that it has not dealt
with any broker, agent or other person (collectively, “Broker”) in connection with this transaction and that no Broker brought about this transaction, other than CresaPartners, Jones Lang LaSalle and CTBT Commercial. Landlord and
Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker, other than the broker, if any named in this Section 35, claiming a commission or other form of compensation by
virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. Landlord shall pay any commissions due to CresaPartners, Jones Lang LaSalle and CTBT Commercial arising out of the execution of this Lease in
accordance with the terms of separate written agreements between Landlord and such Brokers. 
 36. Limitation on Landlord’s
Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER PERSON ASSUME ALL
RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS,
LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION KEPT AT THE PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL
RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER
SHALL BE STRICTLY LIMITED SOLELY TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE PROCEEDS PAYABLE IN RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH
LOSS; AND (C) IN NO EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR ASSETS OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS,
EMPLOYEES, AGENTS OR CONTRACTORS. UNDER NO CIRCUMSTANCES SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM.

 37. Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws, then
and in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby. It is also the intention of the parties to this Lease that in lieu of each clause or provision of this Lease that is
illegal, invalid or unenforceable, there be added, as a part of this Lease, a clause or provision as similar in effect to such illegal, invalid or unenforceable clause or provision as shall be legal, valid and enforceable. 

38. Signs; Exterior Appearance. Tenant shall not, without the prior written consent of Landlord, which may be granted or withheld in
Landlord’s reasonable discretion: (i) attach any awnings, exterior lights, decorations, balloons, flags, pennants, banners, painting or other projection to any outside wall of the Project, (ii) use any curtains, blinds, shades or
screens other than Landlord’s standard window coverings, (iii) coat or otherwise sunscreen the interior or exterior of any windows, (iv) place any bottles, parcels, or other articles on the window sills, (v) place any equipment,
furniture or other items of personal property on any exterior balcony, or (vi) paint, affix or exhibit on any part of the Premises or the Project any signs, notices, window or door lettering, placards, decorations, or advertising media of any
type which can be viewed from the exterior of the Premises. Interior signs on doors and the directory tablet shall be inscribed, painted or affixed for Tenant by Landlord at the sole cost and expense of Tenant, and shall be of a size, color and type
acceptable to Landlord. Nothing may be placed on the exterior of corridor walls or corridor doors other than Landlord’s standard lettering. The directory tablet shall be provided exclusively for the display of the name and location of tenants.

  

					
		  	

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 39. Right to Expand. 

(a) Right of First Refusal. At any time after the date of this Lease through the date that is 18 months after the Commencement Date
(“Expansion Right Expiration Date”) that Landlord intends to accept a written proposal (the “Pending Deal”) to lease the Expansion Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant
written notice (the “Pending Deal Notice”) of the existence of such Pending Deal, which Pending Deal Notice shall include the material business terms of such Pending Deal which Landlord intends to accept (“Pending Deal
Terms”). For purposes of this Section 39(a), “Expansion Space” shall mean that certain approximately 8,399 rentable square feet on the third floor of the Building leased as of the date of this
Lease to Sequenta, Inc., and/or that certain approximately 5,063 rentable square feet of the third floor of the Building leased as of the date of this Lease to Patheon Pharmaceuticals Inc., but only if either or both Sequenta, Inc. or Patheon
Pharmaceuticals Inc. terminates its lease for its respective premises prior to the Expansion Right Expiration Date. Tenant shall be entitled to exercise its right under this Section 39(a) only with respect to the entire
Expansion Space described in such Pending Deal Notice. Within 7 days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Space Acceptance Notice”) if Tenant elects to lease
the Expansion Space. Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the Expansion Space pursuant to this Section 39(a) is hereinafter referred to as the “Right of First
Refusal.” If Tenant elects to lease the Expansion Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 7 day period, Tenant shall be deemed to agree to lease the Expansion Space on the
same general terms and conditions as this Lease except that the terms of this Lease shall be modified to reflect the Pending Deal Terms for the rental of the Expansion Space. The term of the Lease with respect to the Expansion Space shall be the
term set forth in the Pending Deal Terms, and Tenant agrees that if the term of the Lease with respect to the Expansion Space is scheduled to expire after the expiration of the Base Term of the Lease with respect to the original Premises, the Base
Term of the Lease with respect to the original Premises shall be extended so as to be co-terminous with the Base Term of the Lease with respect to the Expansion Space. Notwithstanding anything to the contrary
contained herein, in no event shall the Work Letter apply to the Expansion Space. If Tenant fails to deliver a Space Acceptance Notice to Landlord within the required 7 day period, Tenant shall be deemed to have waived its rights under this
Section39(a) with respect to the Expansion Space identified in the Pending Deal Notice and the provisions of this Section 39(a) shall no longer apply to the Expansion Space identified in the Pending Deal Notice. 

(b) Amended Lease. If: (i) Tenant fails to timely deliver a Space Acceptance Notice, or (ii) after the expiration of a period
of 10 days after Landlord’s delivery to Tenant of a lease amendment or lease agreement for Tenant’s lease of the Expansion Space on substantially the same terms and conditions of this Lease other than business terms and other than as
modified by the Pending Deal Notice, no lease amendment or lease agreement for the Expansion Space acceptable to both parties each in their sole and absolute discretion, has been executed, Tenant shall be deemed to have waived its right to lease
such Expansion Space. 
 (c) Exceptions. Notwithstanding the above, the Right of First Refusal shall, at Landlord’s option, not
be in effect and may not be exercised by Tenant: 
 (i) during any period of time that Tenant is in Default under any
provision of the Lease; or 
 (ii) if Tenant has been in Default under any provision of the Lease 3 or more times, whether or
not the Defaults are cured, during the 12 month period prior to the date on which Tenant seeks to exercise the Right of First Refusal. 
 (d)
Termination. The Right of First Refusal shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the
commencement date of the lease of such Expansion Space (i) Tenant fails to timely cure any default by Tenant under the Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Right of
First Refusal to the date of the commencement of the lease of the Expansion Space whether or not such Defaults are cured. 

  

					
		  	

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 (e) Subordinate. Tenant’s rights in connection with the Expansion Right are and
shall be subject to and subordinate to any expansion or extension rights granted in the Project to Sequenta, Inc. and Patheon Pharmaceuticals Inc. 

(f) Rights Personal. The Right of First Refusal is personal to Tenant and is not assignable without Landlord’s consent, which may
be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment of this
Lease. 
 (g) No Extensions. The period of time within which the Right of First Refusal may be exercised shall not be extended or
enlarged by reason of Tenant’s inability to exercise the Right of First Refusal. 
 40. Right to Extend Term. Tenant shall have
the right to extend the Term of the Lease upon the following terms and conditions: 
 (a) Extension Rights. Tenant shall have 1 right
(an “Extension Right”) to extend the term of this Lease for 2 years (an “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent and the Work Letter) by giving
Landlord written notice of its election to exercise such Extension Right at least 9 months prior, and no earlier than 12 months prior, to the expiration of the Base Term of the Lease. 

Upon the commencement of the Extension Term, Base Rent shall be payable at the Market Rate (as defined below). Base Rent shall thereafter be
adjusted on each annual anniversary of the commencement of such Extension Term by a percentage as determined by Landlord and agreed to by Tenant at the time the Market Rate is determined. As used herein, “Market Rate” shall mean the
then market rental rate as determined by Landlord and agreed to by Tenant. 
 If, on or before the date which is 180 days prior to the
expiration of the Base Term of this Lease, Tenant has not agreed with Landlord’s determination of the Market Rate and the rent escalations during the Extension Term after negotiating in good faith, Tenant shall be deemed to have elected
arbitration as described in Section 40(b). Tenant acknowledges and agrees that, if Tenant has elected to exercise the Extension Right by delivering notice to Landlord as required in this
Section 40(a). Tenant shall have no right thereafter to rescind or elect not to extend the term of the Lease for the Extension Term. 

(b) Arbitration. 

(i) Within 10 days of Tenant’s notice to Landlord of its election (or deemed election) to arbitrate Market Rate and
escalations, each party shall deliver to the other a proposal containing the Market Rate and escalations that the submitting party believes to be correct (“Extension Proposal”). If either party fails to timely submit an Extension
Proposal, the other party’s submitted proposal shall determine the Base Rent and escalations for the Extension Term. If both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days after delivery of the last
Extension Proposal and make a good faith attempt to mutually appoint a single Arbitrator (and defined below) to determine the Market Rate and escalations. If Landlord and Tenant are unable to agree upon a single Arbitrator, then each shall, by
written notice delivered to the other within 10 days after the meeting, select an Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator, the other party’s submitted proposal shall determine the Base Rent for
the Extension Term. The 2 Arbitrators so appointed shall, within 5 business days after their appointment, appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on the selection of the third Arbitrator within the time above
specified, then either party, on behalf of both parties, may request such appointment of such third Arbitrator by application to any state court of general jurisdiction in the jurisdiction in which the Premises are located, upon 10 days prior
written notice to the other party of such intent. 

  

					
		  	

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 (ii) The decision of the Arbitrator(s) shall be made within 30 days after the
appointment of a single Arbitrator or the third Arbitrator, as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest Arbitrators in a three Arbitrator panel shall be final and
binding upon the parties. Each party shall pay the fees and expenses of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally by both parties. If the Market Rate and
escalations are not determined by the first day of the Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by the Rent Adjustment Percentage
until such determination is made. After the determination of the Market Rate and escalations, the parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing the
Market Rate and escalations for the Extension Term. 
 (iii) An “Arbitrator” shall be any person appointed
by or on behalf of either party or appointed pursuant to the provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years of experience in the appraisal of improved office
and high tech or life science industrial real estate in the greater South San Francisco area, or (B) a licensed commercial real estate broker with not less than 15 years experience representing landlords and/or tenants in the leasing of high
tech or life sciences space in the greater South San Francisco area, (ii) devoting substantially all of their time to professional appraisal or brokerage work, as applicable, at the time of appointment and (Hi) be in all respects impartial and
disinterested. 
 (c) Rights Personal. The Extension Right is personal to Tenant and is not assignable without Landlord’s
consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted
Assignment of this Lease. 
 (d) Exceptions. Notwithstanding anything set forth above to the contrary, the Extension Right shall, at
Landlord’s option, not be in effect and Tenant may not exercise the Extension Right: 
 (i) during any period of time
that Tenant is in Default under any provision of this Lease; or 
 (ii) if Tenant has been in Default under any provision of
this Lease 3 or more times, whether or not the Defaults are cured, during the 12 month period immediately prior to the date that Tenant intends to exercise the Extension Right, whether or not the Defaults are cured. 

(e) No Extensions. The period of time within which the Extension Right may be exercised shall not be extended or enlarged by reason of
Tenant’s inability to exercise the Extension Right. 
 (f) Termination. The Extension Right shall, at Landlord’s option,
terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Extension Right, if, after such exercise, but prior to the commencement date of the Extension Term, (i) Tenant fails to timely cure any
default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the Extension Term, whether or not such Defaults are
cured. 
 41. Intentionally Deleted. 

  

					
		  	

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 42. Miscellaneous. 

(a) Notices. All notices or other communications between the parties shall be in writing and shall be deemed duly given upon delivery or
refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth above. Landlord and Tenant may
from time to time by written notice to the other designate another address for receipt of future notices. 
 (b) Joint and Several
Liability. If and when included within the term “Tenant,” as used in this instrument, there is more than one person or entity, each shall be jointly and severally liable for the obligations of Tenant. 

(c) Financial Information. Tenant shall furnish Landlord with true and complete copies of (i) Tenant’s most recent unaudited or, if
available, audited annual financial statements within 90 days of the end of each of Tenant’s fiscal years during the Term, (H) Tenant’s most recent unaudited quarterly financial statements within 45 days of the end of each of
Tenant’s first three fiscal quarters of each of Tenant’s fiscal years during the Term, (iii) at Landlord’s request from time to time, updated business plans, including cash flow projections and/or pro forma balance sheets and
income statements, all of which shall be treated by Landlord as confidential information belonging to Tenant, (iv) corporate brochures and/or profiles prepared by Tenant for prospective investors, and (v) any other financial information or
summaries that Tenant typically provides to its lenders or shareholders. Notwithstanding the foregoing, in no event shall Tenant be required to provide any financial information to Landlord which Tenant does not otherwise prepare (or cause to be
prepared) for its own purposes. 
 (d) Recordation. Neither this Lease nor a memorandum of lease shall be filed by or on behalf of
Tenant in any public record. Landlord may prepare and file, and upon request by Landlord Tenant will execute, a memorandum of lease. 
 (e)
Interpretation. The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any
gender used in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, unless the context otherwise requires. The captions inserted in this Lease are for convenience
only and in no way define, limit or otherwise describe the scope or intent of this Lease, or any provision hereof, or in any way affect the interpretation of this Lease. 

(f) Not Binding Until Executed. The submission by Landlord to Tenant of this Lease shall have no binding force or effect, shall not
constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution of this Lease by both parties. 

(g) Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law governing the
maximum rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so as to render usurious any interest called for under this Lease, or contracted for, charged, taken, reserved, or
received with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord be credited on the applicable obligation (or, if the obligation has been or would thereby be
paid in full, refunded to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced, without the necessity of the execution of any new document, so as to comply with the
applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder. 
 (h) Choice of Law.
Construction and interpretation of this Lease shall be governed by the internal laws of the state in which the Premises are located, excluding any principles of conflicts of laws. 

  

					
		  	

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 (i) Time. Time is of the essence as to the performance of Landlord’s and
Tenant’s obligations under this Lease. 
 (j) OFAC. Tenant, and all beneficial owners of Tenant, are currently (a) in
compliance with and shall at all times during the Term of this Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or
regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of this Lease be listed on, the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any
other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the
OFAC Rules. 
 (k) Incorporation by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease and
made a part hereof. If there is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control. 

(I) Entire Agreement. This Lease, including the exhibits attached hereto, constitutes the entire agreement between Landlord and Tenant
pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, letters of intent, negotiations and discussions, whether oral or written, of the parties, and there are no warranties, representations
or other agreements, express or implied, made to either party by the other party in connection with the subject matter hereof except as specifically set forth herein. 

(m) No Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment of Base Rent
or any Additional Rent will be other than on account of the earliest stipulated Base Rent and Additional Rent, nor will any endorsement or statement on any check or letter accompanying a check for payment of any Base Rent or Additional Rent be an
accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or to pursue any other remedy provided in this Lease. 

(n) Hazardous Activities. Notwithstanding any other provision of this Lease, Landlord, for itself and its employees, agents and
contractors, reserves the right to refuse to perform any repairs or services in any portion of the Premises which, pursuant to Tenant’s routine safety guidelines, practices or custom or prudent industry practices, require any form of protective
clothing or equipment other than safety glasses. In any such case, Tenant shall contract with parties who are acceptable to Landlord, in Landlord’s reasonable discretion, for all such repairs and services, and Landlord shall, to the extent
required, equitably adjust Tenant’s Share of Operating Expenses in respect of such repairs or services to reflect that Landlord is not providing such repairs or services to Tenant. 

[ Signatures on next page ] 

  

					
		  	

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Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Net Multi-Tenant Laboratory	  	400 E. Jamie Court/Principia - Page 
 33

  

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year first
above written. 
  

									
	TENANT:
	
	PRINCIPIA BIOPHARMA INC.,
	a Delaware corporation
		
		 	/s/ Eliot Charles
	By:	 	 Eliot Charles

	Its:	 	Interim COO
	
	LANDLORD:
	
	ARE-EAST JAMIE COURT, LLC,
	a Delaware limited liability company
		
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P., a Delaware limited partnership, managing member
			
		 	By:	 	ARE-QRS CORP.,
		 		 	 a Maryland corporation,
 general
partner

				
		 		 	By:	 	 /s/ Eric S. Johnson

				
		 		 	Its:	 	  

		 		 		 	Eric S. Johnson
		 		 		 	Vice President
		 		 		 	Real Estate Legal Affairs

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Net Multi-Tenant Laboratory	  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT A TO LEASE 

DESCRIPTION OF PREMISES 
  

 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
		  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT B TO LEASE 

DESCRIPTION OF PROJECT 

All that certain real property in the City of South San Francisco, County of San Mateo, State of California, more particularly described as
follows: 
 LEGAL DESCRIPTION 
 PARCEL 2, AS DESIGNATED
ON THE MAP ENTITLED “PARCEL MAP, BEING A RESUBDIVISION OF PARCEL 5, AS SAID PARCEL IS DELINEATED AND SO DESIGNATED UPON THAT CERTAIN PARCEL MAP RECORDED IN BOOK 47 OF PARCEL MAPS AT PAGES 4 & 5, SAN MATEO CO. RECORDS, SOUTH SAN FRANCISCO,
SAN MATEO CO., CALIFORNIA”, WHICH MAP WAS FILED IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SAN MATEO, STATE OF CALIFORNIA, ON OCTOBER 23, 1981, IN BOOK 51 OF MAPS AT PAGES 96 AND 97. 

EXCEPTING THEREFROM, WATER RIGHTS AS LIE BENEATH THE SURFACE OF THE EARTH, WITH NO RIGHT OF SURFACE ENTRY, AS CONTAINED IN THAT QUITCLAIM DEED FROM ARTHUR S.
HASKINS, JR., TO CALIFORNIA WATER SERVICE COMPANY, A CALIFORNIA CORPORATION, DATED OCTOBER 2, 1981, AND RECORDED OCTOBER 30, 1981, UNDER INSTRUMENT NO. 2299-AT, RECORDS OF SAN MATE() COUNTY. 

 

			
	ASSESSOR’S PARCEL NO. 015-102-120	  	JOINT PLANT NO. 015-010-102-25A

 METES AND BOUNDS DESCRIPTION 

PARCEL 2, AS DESIGNATED ON THE MAP ENTITLED “PARCEL MAP, BEING A RESUBDIVISION OF PARCEL 5, AS SAID PARCEL IS DELINEATED AND SO DESIGNATED UPON THAT
CERTAIN PARCEL MAP RECORDED IN BOOK 47 OF PARCEL MAPS AT PAGES 4 & 5, SAN MATEO CO. RECORDS, SOUTH SAN FRANCISCO, SAN MATEO CO., CALIFORNIA”, WHICH MAP WAS FILED IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SAN MATEO, STATE OF CALIFORNIA,
ON OCTOBER 23, 1981, IN BOOK 51 OF MAPS AT PAGES 96 AND 97. 
 BEGINNING AT THE SOUTHWEST CORNER OF PARCEL 2, THENCE ALONG THE WESTERLY LINE OF SAID
PARCEL 2, NORTH, 115.08 FEET; THENCE WEST, 20.78 FEET; THENCE NORTH, 201.65 FEET; THENCE EASTERLY ALONGTHE ARC OF A NON-TANGENT CURVE TO THE RIGHT, THE RADIUS POINT OF WHICH BEARS SOUTH 43°50’30”
EAST, 30.00 FEET THROUGH A CENTRAL ANGLE OF 47°00’48”, AN ARC DISTANCE OF 24.62 FEET; THENCE SOUTH 86°49’42” EAST, 874.36 FEET; THENCE SOUTH 275.50 FEET; THENCE SOUTH 89°55’25” WEST, 874.68 FEET; TO THE
POINT OF BEGINNING, CONTAINING 6.13 ACRES, MORE OR LESS. 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Work Letter - Tenant Build	  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT C TO LEASE 

WORK LETTER 
 THIS
WORK LETTER dated     May 1    , 2011 (this “Work Letter”) is made and entered into by and between ARE-EAST JAMIE COURT LLC, a
Delaware limited liability company (“Landlord”), and PRINCIPIA BIOPHARMA INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease Agreement dated
    May 1    , 2011 (the “Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in
the Lease. 
 1. General Requirements. 

(a) Tenant’s Authorized Representative. Tenant designates Eliot Charles and Hans van Houte (either such individual acting alone,
“Tenant’s Representative”) as the only persons authorized to act for Tenant pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication
(“Communication”) from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing (including e-mail) from Tenant’s Representative. Tenant may
change either Tenant’s Representative at any time upon not less than 5 business days advance written notice to Landlord. Neither Tenant nor Tenant’s Representative shall be authorized to direct Landlord’s contractors in the
performance of Landlord’s Work (as hereinafter defined). 
 (b) Landlord’s Authorized Representative. Landlord designates
Rob Kain and Todd Miller (either such individual acting alone, “Landlord’s Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be obligated to respond to or act
upon any request, approval, inquiry or other Communication from or on behalf of Landlord in connection with this Work Letter unless such Communication is in writing (including e-mail) from Landlord’s
Representative. Landlord may change either Landlord’s Representative at any time upon not less than 5 business days advance written notice to Tenant. Landlord’s Representative shall be the sole persons authorized to direct Landlord’s
contractors in the performance of Landlord’s Work. 
 (c) Architects, Consultants and Contractors. Landlord and Tenant hereby
acknowledge and agree that: (i) the general contractor and any subcontractors for the Tenant Improvements shall be selected by Landlord, subject to Tenant’s approval, which approval shall not be unreasonably withheld, conditioned or
delayed, and (ii) Dowler Gruman Associates shall be the architect (the “TI Architect”) for the Tenant Improvements. 

2. Tenant Improvements. 

(a) Tenant Improvements Defined. As used herein, “Tenant Improvements” shall mean all improvements to the Project of a
fixed and permanent nature as shown on the TI Construction Drawings, as defined in Section 2(c) below. Other than Landlord’s Work (as defined in Section 3(a)below, Landlord shall not have any
obligation whatsoever with respect to the finishing of the Premises for Tenant’s use and occupancy. 
 (b) Tenant’s Space
Plans. Landlord and Tenant acknowledge and agree that the plan attached to the Lease as Exhibit G (the “Space Plan”) has been approved by both Landlord and Tenant. Landlord and Tenant further acknowledge and agree that
any changes to the Space Plan constitute a Change Request the cost of which changes shall be paid for by Tenant. Tenant shall be solely responsible for all costs incurred by Landlord to alter the Building (or Landlord’s plans for the Building)
as a result of Tenant’s requested changes. 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
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	Work Letter - Tenant Build	  	400 E. Jamie Court/Principia - Page 2

  

 (c) Working Drawings. Landlord shall cause the TI Architect to prepare and deliver to
Tenant for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction Drawings”), which TI Construction Drawings shall be prepared substantially in accordance with the Space
Plan. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements. Tenant shall deliver its written comments on the TI Construction Drawings to Landlord not later
than 10 business days after Tenant’s receipt of the same; provided, however, that Tenant may not disapprove any matter that is consistent with the Space Plan which disapproval causes a delay in the Substantial Completion of Landlord’s Work
or an increase in TI Costs without submitting a Change Request. Landlord and the TI Architect shall consider all such comments in good faith and shall, within 10 business days after receipt, notify Tenant how Landlord proposes to respond to such
comments, but Tenant’s review rights pursuant to the foregoing sentence shall not delay the design or construction schedule for the Tenant Improvements. Any disputes in connection with such comments shall be resolved in accordance with
Section 2(d) hereof. Provided that the design reflected in the TI Construction Drawings is consistent with the Space Plan, Tenant shall approve the TI Construction Drawings submitted by Landlord, unless Tenant submits a
Change Request. Once approved by Tenant, subject to the provisions of Section 4below, Landlord shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance of
the TI Permit (as defined in Section 3(b) below). 
 (d) Approval and Completion. It is hereby acknowledged
by Landlord and Tenant that the TI Construction Drawings must be completed and approved no later than May 19, 2011, in order for the Landlord’s Work to be Substantially Complete by the Target Commencement Date (as defined in the Lease).
Upon any dispute regarding the design of the Tenant Improvements, which is not settled within 10 business days after notice of such dispute is delivered by one party to the other, Tenant may make the final decision regarding the design of the Tenant
Improvements, provided (i) Tenant acts reasonably and such final decision is either consistent with or a compromise between Landlord’s and Tenant’s positions with respect to such dispute, (ii) that all costs and expenses
resulting from any such decision (arising from such dispute) by Tenant shall be payable by Tenant, and (iii) Tenant’s decision will not affect the base Building, structural components of the Building or any Building systems. Any changes to
the TI Construction Drawings following Landlord’s and Tenant’s approval of same requested by Tenant shall be processed as provided in Section 4 hereof. 

3. Performance of Landlord’s Work. 

(a) Definition of Landlord’s Work. As used herein, “Landlord’s Work” shall mean the work of constructing (or
causing to be constructed) the Tenant Improvements. 
 (b) Commencement and Permitting. Landlord shall commence construction of the
Tenant Improvements upon obtaining a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction Drawings approved by Tenant. The cost of obtaining the TI Permit
shall be payable by Landlord. Tenant shall (at no additional cost to Tenant) cooperate with Landlord’s efforts to obtain the TI Permit. If any Governmental Authority having jurisdiction over the construction of Landlord’s Work or any
portion thereof shall impose terms or conditions upon the construction thereof that: (i) are inconsistent with Landlord’s obligations hereunder, (ii) increase the cost of constructing Landlord’s Work, or (iii) will materially
delay the construction of Landlord’s Work, Landlord and Tenant shall reasonably and in good faith seek means by which to mitigate or eliminate any such adverse terms and conditions. 

(c) Completion of Landlord’s Work. Landlord shall substantially complete or cause to be substantially completed Landlord’s
Work in a good and workmanlike manner, in accordance with the TI Permit subject, in each case, to Minor Variations and normal “punch list” items of a non-material nature that do not interfere
with the use of the Premises (“Substantial Completion” or “SubstantiallyComplete”). Upon Substantial Completion of Landlord’s Work, Landlord shall require the TI Architect and the general contractor to execute
and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects (“AIA”) document G704. For purposes of this Work Letter, “Minor
Variations” shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply with any required permit (including the TI Permit); (ii) to comply with any request by
Tenant for modifications to Landlord’s Work; (iii) to comport with good design, engineering, and construction practices that are not material; or (iv) to make reasonable adjustments for field deviations or conditions encountered during the
construction of Landlord’s Work. 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Work Letter - Tenant Build	  	400 E. Jamie Court/Principia - Page 3

  

 (d) Selection of Materials. Where more than one type of material or structure is
indicated on the TI Construction Drawings approved by Landlord and Tenant, the option will be within Landlord’s reasonable discretion if the matter concerns the Tenant Improvements (provided that Landlord shall use reasonable efforts to see
Tenant’s comments on such choice), and within Landlord sole and absolute discretion if the matter concerns the structural components of the Building or any Building System. The quality for such materials and structure reflected in the TI
Construction Drawings indicates the minimum quality for such materials and structure approved by the parties with respect to the Tenant Improvements. If Landlord, in its sole discretion, desires to increase the quality of such materials and/or
structure, Landlord shall be responsible for the additional costs incurred in connection with such increase in quality. As to all building materials and equipment that Landlord is obligated to supply under this Work Letter, Landlord shall select the
manufacturer thereof in its reasonable discretion. 
 (e) Delivery of the Premises. When Landlord’s Work is Substantially
Complete, subject to the remaining terms and provisions of this Section 3(e) Tenant shall accept the Premises. Tenant’s taking possession and acceptance of the Premises shall not constitute a waiver of: (i) any
warranty with respect to workmanship (including installation of equipment) or material (exclusive of equipment provided directly by manufacturers), (ii) any non-compliance of Landlord’s Work with
applicable Legal Requirements, or (iii) any claim that Landlord’s Work was not completed substantially in accordance with the TI Construction Drawings (subject to Minor Variations and such other changes as are permitted hereunder)
(collectively, a “Construction Defect”). Tenant shall have one year after Substantial Completion within which to notify Landlord of any such Construction Defect discovered by Tenant, and Landlord shall use reasonable efforts to
remedy or cause the responsible contractor to remedy any such Construction Defect within 30 days thereafter. Notwithstanding the foregoing, Landlord shall not be in default under the Lease if the applicable contractor, despite Landlord’s
reasonable efforts, fails to remedy such Construction Defect within such 30-day period, in which case Landlord shall have no further obligation with respect to such Construction Defect other than to cooperate,
at no cost to Landlord, with Tenant should Tenant elect to pursue a claim against such contractor. 
 (f) Tenant shall be entitled to receive
the benefit of all construction warranties and manufacturer’s equipment warranties relating to equipment installed in the Premises. If requested by Tenant, Landlord shall attempt to obtain extended warranties from manufacturers and suppliers of
such equipment, but the cost of any such extended warranties shall be borne solely by Tenant. Landlord shall promptly undertake and endeavor to complete, or endeavor to cause to be completed, all punch list items within 30 days of Substantial
Completion. 
 (g) Commencement Date Delay. Except as otherwise provided in the Lease, Delivery of the Premises shall occur when
Landlord’s Work has been Substantially Completed, except to the extent that completion of Landlord’s Work shall have been actually delayed by any one or more of the following causes (“Tenant Delay”): 

(i) Tenant’s Representative was not available within 1 business day to give or receive any Communication or to take any
other action required to be taken by Tenant hereunder; 
 (ii) Tenant’s request for Change Requests (as defined in
Section 4(a) below) whether or not any such Change Requests are actually performed; 
 (iii)
Construction of any Change Requests; 
 (iv) Tenant’s request for materials, finishes or installations requiring
unusually long lead times, provided that promptly after Landlord learns of such long lead time items, Landlord informs Tenant that the requested items will require unusually long lead times; 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
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	Work Letter - Tenant Build	  	400 E. Jamie Court/Principia - Page 4

  

 (v) Tenant’s delay in reviewing, revising or approving plans and
specifications beyond the periods set forth herein; 
 (vi) Tenant’s delay in providing information critical to the
normal progression of the Project. Tenant shall provide such information as soon as reasonably possible, but in no event longer than one week after receipt of any request for such information from Landlord; 

(vii) Tenant’s delay in making payments to Landlord for Excess TI Costs (as defined in Section 5(b) below); or 

(viii) Any other act at the Premises by Tenant or any Tenant Party (as defined in the Lease), or persons employed by any of
such persons that continues for more than one (1) day after Landlord’s notice thereof to Tenant. 
 If Delivery is delayed for any of the
foregoing reasons, then Landlord shall cause the TI Architect to certify the date on which the Tenant Improvements would have been completed but for such Tenant Delay and such certified date shall be the date of Delivery. 

4. Changes. Any changes requested by Tenant to the Tenant Improvements after the delivery and approval by Landlord of the Space Plan
shall be requested and instituted in accordance with the provisions of this Section 4 and shall be subject to the written approval of Landlord and the TI Architect, such approval not to be unreasonably withheld, conditioned
or delayed. 
 (a) Tenant’s Request For Changes. If Tenant shall request changes to the Tenant Improvements
(“Changes”), Tenant shall request such Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature
and extent of any such Change. Such Change Request must be signed by Tenant’s Representative. Landlord shall, before proceeding with any Change, use commercially reasonable efforts to respond to Tenant as soon as is reasonably possible with an
estimate of: (i) the time it will take, and (ii) the architectural and engineering fees and costs that will be incurred, to analyze such Change Request (which costs shall be paid by Tenant to the extent actually incurred, whether or not
such change is implemented). Landlord shall thereafter submit to Tenant in writing, within 5 business days of receipt of the Change Request (or such longer period of time as is reasonably required depending on the extent of the Change Request), an
analysis of the additional cost or savings involved, including, without limitation, architectural and engineering costs and the period of time, if any, that the Change will extend the date on which Landlord’s Work will be Substantially
Complete. Any such delay in the completion of Landlord’s Work caused by a Change, including any suspension of Landlord’s Work while any such Change is being evaluated and/or designed, shall be Tenant Delay. 

(b) Implementation of Changes. If Tenant: (i) approves in writing the cost or savings and the estimated extension in the time for
completion of Landlord’s Work, if any, resulting from a Change, and (ii) deposits with Landlord any Excess TI Costs required in connection with such Change, Landlord shall cause the approved Change to be instituted. Notwithstanding any
approval or disapproval by Tenant of any estimate of the delay caused by such proposed Change, the TI Architect’s determination of the amount of Tenant Delay in connection with such Change shall be final and binding on Landlord and Tenant. 

5. Costs. 
 (a) TI
Costs. Landlord shall be responsible for the payment of design, permits and construction costs in connection with the construction of the Tenant Improvements, including, without limitation, the cost of preparing the TI Construction Drawings and
the Space Plans and Landlord’s out-of-pocket expenses (collectively, “TI Costs”). Notwithstanding anything to the contrary contained herein (except
as otherwise set forth in this paragraph), in no event shall Landlord be required to pay for any furniture, personal property or other non-Building system materials or equipment, including, but not limited

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	Work Letter - Tenant Build	  	400 E. Jamie Court/Principia - Page 5

  

 
to, Tenant’s voice or data cabling, phones, server racks, and video conferencing equipment, and Tenant shall be responsible for the cost of such items; provided, however, that Landlord shall
provide to Tenant a furniture allowance of up to $[•] (“Furniture Allowance”) for office furniture only for the Premises selected by Tenant and reasonably acceptable to Landlord. 

(b) Excess TI Costs. Landlord shall cause the Tenant Improvements to be constructed pursuant to this Work Letter on a turn-key basis such that on the Commencement Date the same shall be delivered to Tenant Substantially Completed; provided, however, that Tenant acknowledges and agrees that Landlord shall have no responsibility for
(i) any increase in the TI Costs arising from Tenant’s changes to the Space Plans or TI Construction Drawings, Tenant Delays, or the cost of Changes, or (ii) the cost of office furniture in excess of the Furniture Allowance (collectively,
“Excess TI Costs”). Upon Landlord’s request from time to time, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to complete the Tenant Improvements, 100% of the Excess TI Costs. If
Tenant fails to deposit the Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to
assess a late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. Funds deposited by Tenant shall be disbursed to pay Excess TI Costs. 

6. Tenant Access. 
 (a)
Tenant’s Access Rights. Landlord hereby agrees to permit Tenant access, at Tenant’s sole risk and expense, to the Building (i) 30 days prior to the Commencement Date to perform any work (“Tenant’s Work”)
required by Tenant other than Landlord’s Work, provided that such Tenant’s Work is coordinated with the TI Architect and the general contractor, and complies with the Lease and all other reasonable restrictions and conditions Landlord may
impose, and (ii) prior to the completion of Landlord’s Work, to inspect and observe work in process; all such access shall be during normal business hours or at such other times as are reasonably designated by Landlord. Notwithstanding the
foregoing, Tenant shall have no right to enter onto the Premises or the Project unless and until Tenant shall deliver to Landlord evidence reasonably satisfactory to Landlord demonstrating that any insurance reasonably required by Landlord in
connection with such pre-commencement access (including, but not limited to, any insurance that Landlord may require pursuant to the Lease) is in full force and effect. Any entry by Tenant shall comply with
all established safety practices of Landlord’s contractor and Landlord until completion of Landlord’s Work and acceptance thereof by Tenant. 

(b) No Interference. Neither Tenant nor any Tenant Party (as defined in the Lease) shall interfere with the performance of
Landlord’s Work, nor with any inspections or issuance of final approvals by applicable Governmental Authorities, and upon any such interference, Landlord shall have the right to exclude Tenant and any Tenant Party from the Premises and the
Project until Substantial Completion of Landlord’s Work. 
 (c) No Acceptance of Premises. The fact that Tenant may, with
Landlord’s consent, enter into the Project prior to the date Landlord’s Work is Substantially Complete for the purpose of performing Tenant’s Work shall not be deemed an acceptance by Tenant of possession of the Premises, but in such
event Tenant shall defend with counsel reasonably acceptable by Landlord, indemnify and hold Landlord harmless from and against any loss of or damage to Tenant’s property, completed work, fixtures, equipment, materials or merchandise, and from
liability for death of, or injury to, any person, caused by the act or omission of Tenant or any Tenant Party. 
 7. Miscellaneous.

 (a) Consents. Whenever consent or approval of either party is required under this Work Letter, that party shall not unreasonably
withhold, condition or delay such consent or approval, unless expressly set forth herein to the contrary. 
 (b) Modification. No
modification, waiver or amendment of this Work Letter or of any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing signed by Landlord and Tenant. 

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
		  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT D TO LEASE 

ACKNOWLEDGMENT OF COMMENCEMENT DATE 

This ACKNOWLEDGMENT OF COMMENCEMENT DATE is made this 1st day of
    October    , 2011 , between ARE-EAST JAMIE COURT, LLC, a Delaware limited liability company (“Landlord”),
and PRINCIPIA BIOPHARMA INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated
                May
1                , 2011 (the “Lease”), by and between Landlord and Tenant. Any initially
capitalized terms used but not defined herein shall have the meanings given them in the Lease. 
 Landlord and Tenant hereby acknowledge and
agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is     October 1st    ,
    2011     and the termination date of the Base Term of the Lease shall be midnight on     September 30    ,
2014 . In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement Date, this Acknowledgment of Commencement Date shall control for all purposes. 

IN WITNESS WHEREOF, Landlord and Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first above
written. 
  

									
	TENANT:
	
	PRINCIPIA BIOPHARMA INC.,
	a Delaware corporation
		
		 	 /s/ Eliot Charles

	By:	 	Eliot Charles
	Its:	 	Interim COO
	
	LANDLORD:
	
	ARE-EAST JAMIE COURT, LLC,
	a Delaware limited liability company
		
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P., a Delaware limited partnership,
		 	managing member
			
		 	By:	 	 ARE-QRS CORP.,

		 		 	a Maryland corporation,
		 		 	general partner
				
		 		 	By:	 	 /s/ Eric S. Johnson

		 		 	Its:	 	Eric S. Johnson
		 		 		 	Vice President
		 		 		 	Real Estate Legal Affairs

  

					
		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

			
	 Rules and Regulations
	  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT E TO LEASE 

Rules and Regulations 

1. The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or any Tenant Party, or used by them for any purpose
other than ingress and egress to and from the Premises. 
 2. Tenant shall not place any objects, including antennas, outdoor furniture,
etc., in the parking areas, landscaped areas or other areas outside of its Premises, or on the roof of the Project. 
 3. Except for animals
assisting the disabled, no animals shall be allowed in the offices, halls, or corridors in the Project. 
 4. Tenant shall not disturb the
occupants of the Project or adjoining buildings by the use of any radio or musical instrument or by the making of loud or improper noises. 

5. If Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will direct the electrician
as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be permitted. Any such installation or connection shall be made at Tenant’s expense. 

6. Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except as specifically
approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives or other articles deemed extra hazardous shall not be brought into the Project. This paragraph shall not
apply to those materials expressly permitted under the Lease. 
 7. Parking any type of recreational vehicles is specifically prohibited on
or about the Project. Except for the overnight parking of operative vehicles, no vehicle of any type shall be stored in the parking areas at any time. In the event that a vehicle is disabled, it shall be removed within 48 hours. There shall be no
“For Sale” or other advertising signs on or about any parked vehicle. All vehicles shall be parked in the designated parking areas in conformity with all signs and other markings. All parking will be open parking, and no reserved parking,
numbering or lettering of individual spaces will be permitted except as specified by Landlord. 
 8. Tenant shall maintain the Premises free
from rodents, insects and other pests. 
 9. Landlord reserves the right to exclude or expel from the Project any person who, in the judgment
of Landlord, is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the Project. 

10. Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of good order and
cleanliness. Landlord shall not be responsible to Tenant for any loss of property on the Premises, however occurring, or for any damage done to the effects of Tenant by the janitors or any other employee or person. 

11. Tenant shall give Landlord prompt notice of any defects of which Tenant becomes aware in the water, lawn sprinkler, sewage, gas pipes,
electrical lights and fixtures, heating apparatus, or any other service equipment affecting the Premises. 
 12. Tenant shall not permit
storage outside the Premises, including without limitation, outside storage of trucks and other vehicles, or dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about the Premises.

  

					
		  	

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	 Rules and Regulations 
	  	400 E. Jamie Court/Principia - Page 2

  

 13. All moveable trash receptacles provided by the trash disposal firm for the Premises must
be kept in the trash enclosure areas, if any, provided for that purpose. 
 14. No auction, public or private, will be permitted on the
Premises or the Project. 
 15. No awnings shall be placed over the windows in the Premises except with the prior written consent of
Landlord. 
 16. The Premises shall not be used for lodging, sleeping or cooking or for any immoral or illegal purposes or for any purpose
other than that specified in the Lease; provided, however that cooking shall be permitted in a kitchen or employee break room. No gaming devices shall be operated in the Premises. 

17. Tenant shall ascertain from Landlord the maximum amount of electrical current which can safely be used in the Premises, taking into account
the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not use more than such safe capacity. Landlord’s consent to the installation of electric equipment shall not relieve Tenant from the
obligation not to use more electricity than such safe capacity. 
 18. Tenant assumes full responsibility for protecting the Premises from
theft, robbery and pilferage. 
 19. Tenant shall not install or operate on the Premises any machinery or mechanical devices of a nature not
directly related to Tenant’s Permitted Use of the Premises and shall keep all such machinery free of vibration, noise and air waves which may be transmitted beyond the Premises. 

  

					
		  	

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		  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT F TO LEASE 

TENANT’S PERSONAL PROPERTY 

None. 

  

					
		  	

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		  	400 E. Jamie Court/Principia - Page 1

  

 EXHIBIT G TO LEASE 

SPACE PLAN 
  

 

  

					
		  	

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		  	400 E. Jamie Court/Principia - Page 2

  

 400 East Jamie Court — 3rd floor 

Principia Construction Scope of Work 
 Misc. Metal 

 

	 	•	 	 Cylinder Rack 

Doors and Hardware 
  

	 	•	 	 Frames, Doors and Hardware 

 

	 	•	 	 Glass and Glazing 

Ceiling 
  

	 	•	 	 Acoustical Ceiling Grid and Tile 

 

	 	•	 	 Drywall Ceiling 

Flooring 
  

	 	•	 	 Carpet 

  

	 	•	 	 VCT 

  

	 	•	 	 Sheet Vinyl at Tissue Culture 

 

	 	•	 	 Epoxy at Vivarium 

Hazmat Room Construction 
  

	 	•	 	 Rated Wall 

  

	 	•	 	 Epoxy Flooring & Painting 

 

	 	•	 	 Chemical Storage Cabinets 

Misc. Specialties 
  

	 	•	 	 Glass Marker Board in Conference Room 

Lab Casework 
  

	 	•	 	 Lab Benches — Epoxy Resin Work Surfaces with Drop-in Sinks

  

	 	•	 	 Reagent Shelving 

  

	 	•	 	 Wall Shelving 

  

	 	•	 	 Fume Hoods 

  

	 	•	 	 1 block of 4-8’ fume hoods (4 total) will be new fume hoods at
42” overall depth. 

  

	 	•	 	 2 blocks of 4-8’ fume hoods (8 total) will be re-used hoods at 35” overall depth (21  1⁄2” 

 

	 	•	 	 clear, sash to baffle dimension, with monkey bars set in 2/3rds of the hood). 

 

	 	•	 	 Remaining fume hoods will be re-used hoods. 

 

	 	•	 	 Lab Hot and Cold Water Mixing Faucets 

 

	 	•	 	 Deck Mounted Eyewashes 

 

	 	•	 	 Turrets 

  

	 	•	 	 Cup Sinks-All 

Plumbing 
  

	 	•	 	 Building Plumbing and Process Piping 

 

	 	•	 	 Emergency Shower/Eyewash Stations 

 

	 	•	 	 Special Systems 

  

	 	•	 	 Vacuum System 

  

	 	•	 	 RO/DI System — One faucet per laboratory 

 

	 	•	 	 CDA System 

  

	 	•	 	 Point of Use — Unistrut and Strapping for CO2 per ARE Standard. 

 

	 	•	 	 Argon (1) manifold and piping. 

 

	 	•	 	 Nitrogen piping. 

  

	 	•	 	 VAC and High VAC connections. 

Fire Protection 
  

	 	•	 	 Fire Sprinkler System 

Mechanical 
  

	 	•	 	 HVAC 

  

	 	•	 	 Controls 

  

	 	•	 	 Magnahelic Gauges Monitoring (no interlocking door devices) 

  

					
		  	

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		  	400 E. Jamie Court/Principia - Page 3

  

	 	•	 	 Test and Balance 

  

	 	•	 	 Commissioning 

  

	 	•	 	 HEPA for vivarium 

  

	 	•	 	 Snorkels for Chemistry Lab and Mass Spec 

 

	 	•	 	 Oxygen Sensor 

  

	 	•	 	 Magnahelic Gauge at Tissue Culture 

Electrical 
  

	 	•	 	 Power 

  

	 	•	 	 Lighting 

  

	 	•	 	 Telephone and Data 

  

	 	•	 	 Fire Alarm 

  

	 	•	 	 Car Readers 

By Tenant 
  

					
	Audio and Visual Provisions	  		  	$[●]

  

	 	•	 	 Dark Window Shades 

  

	 	•	 	 Upgrade Motorized Projector Screen 

 

	 	•	 	 Electrical/Cable Conduit Provisions 

 

	 	•	 	 Ceiling Mount for Overhead Projector 

					
		  		  	Total Cost            $[●]

  

					
		  	

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 FIRST AMENDMENT TO LEASE 

THIS FIRST AMENDMENT TO LEASE (this “First Amendment”) is made as of December 1 , 2011, by and
between ARE-EAST JAMIE COURT, LLC, a Delaware limited liability company(“Landlord”), and PRINCIPIA BIOPHARMA INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A.
Landlord and Tenant are parties to that certain Lease Agreement dated as of May 1,2011 (the “Lease”). Pursuant to the Lease, Tenant leases certain premises consisting of approximately 16,751 rentable square feet
(“Premises”) in a building located at 400 East Jamie Court, South San Francisco, California (“Building”). The Premises are more particularly described in the Lease.Capitalized terms used herein without definition
shall have the meanings defined for such terms in the Lease. 
 B. Landlord and Tenant desire, subject to the terms and conditions set
forth below, toamend the Premises, the Rentable Area of the Premises, the Rentable Area of the Building, Building’s Share of Project, Rentable Area of Project, Tenant’s Share of Operating Expenses for the Building and Tenant’s Share
of Operating Expenses for the Project, as set forth in the Lease, to account for changes in the overall square footage of the Premises, Building and Project resulting from the conversion of certain portions of the Common Areas to tenant usable space
and the correction of certain BOMA calculationswith respect to the Premises, Building and Project. 
 NOW, THEREFORE, in
consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Landlord and Tenant hereby agree as follows: 
  

	1.	 Premises and Rentable Area of Premises. Commencing on January 1, 2012, the defined terms
“Premises” and “Rentable Area of Premises” on page 1 of the Lease are deleted in their entirety and replaced with the following: 

“Premises: That portion of the third floor of the Project, containing approximately 16,255 rentable square feet, as determined by
Landlord, as shown on Exhibit A. 
 Rentable Area of Premises: 16,255 sq. ft.” 

 

	2.	 Rentable Area of Building and Project. Commencing on January 1, 2012, the defined terms
“Rentable Area of Building” and “Rentable Area of Project” on page 1 of the Lease aredeleted in their entirety and replaced with the following: 

“Rentable Area of Building: 88,284 sq. ft. 

Rentable Area of Project: 163,072 sq. ft.” 
  

	3.	 Building’s Share of Project. Commencing on January 1, 2012, the defined term
“BuildingShare of Project” on page 1 of the Lease is deleted and replaced in its entirety with the following: 

“Building’s Share of Project: 54.14%” 

  

							
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	4.	 Tenant’s Share of Operating Expenses. Commencing on January 1, 2012, the defined terms
“Tenant’s Share of Operating Expenses for the Building” and “Tenant’s Share of OperatingExpenses for the Project” on page 1 of the Lease are deleted in their entirety and replaced with the following:

 “Tenant’s Share of Operating Expenses for the Building: 18.41% 

Tenant’s Share of Operating Expenses for the Project: 9.97%” 

 

	5.	 Miscellaneous. 

a. This First Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and
contemporaneous oral and writtenagreements and discussions. This First Amendment may be amended only by an agreement in writing, signed by the parties hereto. 

b. Landlord and Tenant each represents and warrants that it has not dealt with anybroker, agent or other person (collectively,
“Broker”) in connection with the transactionreflected in this First Amendment and that no Broker brought about this transaction. Landlordand Tenant each hereby agree to indemnify and hold the other harmless from and against any
claims by any Broker, other than the broker, if any, named in this First Amendment, claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. 

c. This First Amendment is binding upon and shall inure to the benefit of the partieshereto, their respective agents, employees,
representatives, officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and shareholders. 
 d.
This First Amendment may be executed in any number of counterparts, each of whichshall be deemed an original, but all of which when taken together shall constitute one and thesame instrument. The signature page of any counterpart may be detached
therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attachedto any other counterpart identical thereto except having additional signature pages executed by other parties to this First Amendment
attached thereto. 
 e. Except as amended and/or modified by this First Amendment, the Lease is herebyratified and confirmed and all other
terms of the Lease shall remain in full force and effect,unaltered and unchanged by this First Amendment. In the event of any conflict between the provisions of this First Amendment and the provisions of the Lease, the provisions of this First
Amendment shall prevail. Whether or not specifically amended by this First Amendment, all ofthe terms and provisions of the Lease are hereby amended to the extent necessary to giveeffect to the purpose and intent of this First Amendment. 

[Signatures are on the next page.] 

  

							
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 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day
and year first above written. 
  

							
	LANDLORD:	 	 ARE-EAST JAMIE COURT, LLC,

a Delaware limited liability company

			
		 	By:	 	 ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

a Delaware limited partnership,
 managing member

				
		 		 	By:	 	 ARE-QRS CORP.,

a Maryland corporation,
 general partner

				
		 		 		 	 By:         /s/ Eric S.
Johnson                                        
          
 Its:         Eric S.
Johnson                                        
                

             Vice President

Real Estate Legal Affairs

		
	TENANT:	 	 PRINCIPIA BIOPHARMA INC.,
 a
Delaware corporation

			
		 		 	/s/ Eliot Charles
		 	By:	 	 Eliot Charles

		 	Its:	 	Interim COO

  

							
		  		  	

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 SECOND AMENDMENT TO LEASE 

THIS SECOND AMENDMENT TO LEASE (this “Second Amendment”) is made as of July 28 , 2014, by and
between ARE-EAST JAMIE COURT, LLC, a Delaware limited liability company(“Landlord”), and PRINCIPIA BIOPHARMA INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A.
Landlord and Tenant are parties to that certain Lease Agreement dated as of May 1,2011, as amended by that certain First Amendment to Lease dated as of December 1, 2011 (asamended, the “Lease”). Pursuant to the Lease,
Tenant leases certain premises consisting ofapproximately 16,255 rentable square feet (“Original Premises”) in a building located at 400 East Jamie Court, South San Francisco, California (“Building”). The Original
Premises are more particularlydescribed in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease. 

B. The Base Term of the Lease is currently scheduled to expire on September 30, 2014 (“Expiration Date”). 

C. As of the date of this Second Amendment, Tenant occupies space in the Building in addition to the Existing Premises, consisting of
approximately 5,003 rentable square feet, which Tenant currently subleases from Patheon Pharmaceuticals, Inc., a Delaware corporation (“Patheon”), pursuant to that certain Sublease between Tenant and Patheon dated August 20,
2013 (“Patheon Sublease”). 
 D. Landlord and Tenant desire to, among other things, amend the Lease to
(i) provide for Tenant to lease that certain approximately 5,003 rentable square feet of space currently subject to the Patheon Sublease, as shown on Exhibit A attached hereto (“Expansion Premises”) following the
expiration of the Patheon Sublease, and (ii) extend the Term of the Lease through January 31, 2017. 
 NOW,
THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Landlord and Tenanthereby agree as follows: 
  

	1.	 Expansion Premises. In addition to the Original Premises, commencing on the Expansion Premises
Commencement Date (as defined below), Landlord leases to Tenant, and Tenantleases from Landlord, the Expansion Premises. 

  

	2.	 Delivery; Acceptable of the Expansion Premises. The “Expansion Premises Commencement
Date” shall occur on September 1, 2014. The “Expansion Premises Rent Commencement Date” shall occur on January 1, 2015. 

Tenant acknowledges that Landlord shall require access to portions of the Premises after the Expansion Premises Commencement Date in order to
complete certain Landlord’s Work (defined below). Landlord and its contractors and agents shall have the right to enter the Premises afterthe Expansion Premises Commencement Date in order to complete such Landlord’s Work and Tenant shall
cooperate with Landlord in connection with the same. Tenant acknowledges that Landlord’s completion of Landlord’s Work may adversely affect Tenant’s use and occupancy ofthe Premises. Landlord shall use reasonable efforts to minimize
interruption to Tenant’s business during the performance of Landlord’s Work. Landlord shall cause Landlord’s Work to becompleted pursuant to a schedule reasonably acceptable to Landlord and Tenant. Tenant waives all claims against
Landlord in connection with Landlord’s Work, including, without limitation,claims for rent abatement. For the purposes of this paragraph, “Landlord’s Work” shall meanthe installation of 3 card readers in the Premises, at
Landlord’s cost and expense, using Building standard materials (i.e., equipment, materials and finishes of the same quality as those currentlyin the Original Premises) and in a manner reasonably acceptable to Landlord and Tenant, and in
locations within the Premises identified by Tenant and reasonably acceptable to Landlord. 

  

							
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 Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be required to
remove or restore at the expiration or earlier termination of the Term, Landlord’s Work or any improvements existing in the Expansion Premises as of the date of this Second Amendment, nor shall Tenant have the right to remove such
Landlord’s Work or existing improvements at any time during the Term. 
 For the period of 30 consecutive days after the Expansion
Premises Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems serving the Expansion Premises, unless
Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. 
 Except as otherwise
expressly set forth in this Second Amendment: (i) Landlord shall have no obligation for any defects in the Expansion Premises; and (ii) the occupancy by Tenant of the Expansion Premises pursuant to the terms of the Patheon Sublease shall
be conclusive evidence that Tenant accepts the Expansion Premises as of the Expansion Premises CommencementDate. 
 Tenant agrees and
acknowledges that, except as otherwise expressly set forth in this Second Amendment, neither Landlord nor any agent of Landlord has made any representation orwarranty with respect to the condition of all or any portion of the Expansion Premises
and/or the suitability of the Expansion Premises for the conduct of Tenant’s business, and Tenant waivesany implied warranty that the Expansion Premises are suitable for the Permitted Use. 

 

	3.	 Definition of Premises and Rentable Area of Premises. Commencing on the Expansion Premises
Commencement Date, the defined terms “Premises” and “Rentable Area ofPremises” on Page 1 of the Lease shall be deleted in their entirety and replaced with thefollowing: 

“Premises: That portion the Project containing approximately 21,258 rentable squarefeet, consisting of
(i) approximately 16,255 rentable square feet (the “Original Premises”), and(ii) approximately 5,003 rentable square feet (“Expansion Premises”), all as determined by Landlord, as shown on Exhibit A.” 

“Rentable Area of Premises: Approximately 21,258 sq. ft.” 

As of the Expansion Premises Commencement Date, Exhibit A to the Lease shall be amended to include the Expansion Premises as shown on
Exhibit A attached to this Second Amendment. 
  

	4.	 Base Rent. 

a. Original Premises. Tenant shall continue paying Base Rent with respect to theOriginal Premises as provided for in the Lease through
September 30, 2014. Commencing on October 1, 2014, Tenant shall commence paying Base Rent for the Original Premises in theamount of $[•] per rentable square foot of the Original Premises per month through January 31, 2017. 

Notwithstanding anything to the contrary contained in this Second Amendment, so long as no Default (beyond any applicable notice and cure
periods) has occurred under the Lease, Tenant shall not be required to pay Base Rent with respect to the Original Premises for the period commencing October 1, 2014, through December 31, 2014. Tenant shall resume paying Base Rent (in the
amount provided for in the immediately preceding paragraph) with respect to the Original Premises on January 1, 2015. 

  

							
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 b. Expansion Premises. Commencing on the Expansion Premises Rent Commencement Date, Tenant
shall pay Base Rent with respect to the Expansion Premises in the amount of $[•] per rentable square foot of the Expansion Premises per month through January 31, 2017. 

 

	5.	 Definition of Tenant’s Share of Operating Expenses. Commencing on the Expansion
Premises Commencement Date, the defined terms “Tenant’s Share of Operating Expenses for the Building” and “Tenant’s Share of Operating Expenses for the Project” on page 1 of the Lease are deleted in their
entirety and replaced with the following: 

 “Tenant’s Share of Operating Expenses for the
Building: 24.08%” 
 “Tenant’s Share of Operating Expenses for the Project: 13.04%” 

 

	6.	 Base Term. Commencing on the Expansion Premises Commencement Date, the defined term
“Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following: 

“Base Term: Commencing (i) with respect to the Original Premises on October 1, 2011, and
(ii) commencing with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on January 31, 2017.” 

 

	7.	 Right to Expand. Section 39 of the Lease is hereby deleted in
its entirety and replaced with the following: 

 “39. Right to Expand. 

(a) Right of First Refusal. At any time during the period commencing on the date that the Second Amendment is mutually
executed and delivered by the parties, through February 28, 2016 (“Expansion Right Expiration Date”) that Landlord intends to accept a written proposal (the “Pending Deal”) to lease the Expansion Space (as
hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal, which Pending Deal Notice shall include the material business terms of such
Pending Deal which Landlord intends to accept (“Pending Deal Terms”). For purposes of this Section 39(a), “Expansion Space” shall mean that certain approximately 8,797 rentable square feet
on the third floor of the Building currently leased to Sequenta, Inc., as shown on Exhibit B attached to the Second Amendment, but only if the rights of Sequenta, Inc. with respect to such space have expired or been otherwise extinguished.
Tenant shall be entitled to exercise its right under this Section 39(a) only with respect to the entire Expansion Space described in such Pending Deal Notice. Within 7 business days after Tenant’s receipt of the Pending Deal Notice, Tenant
shall deliver to Landlord written notice (the “Space Acceptance Notice”) if Tenant elects to lease the Expansion Space. Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the Expansion Space
pursuant to this Section 39(a) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the Expansion Space described in the Pending Deal Notice by delivering the Space
Acceptance Notice within the required 7 business day period, Tenant shall be deemed to agree to lease the Expansion Space on the same general terms and conditions as this Lease except that the terms of this Lease shall be modified to reflect the
Pending Deal Terms for the rental of the Expansion Space. The term of the Lease with respect to the Expansion Space shall be the term set forth in the Pending Deal Terms, and the term of the Lease with respect to the Expansion Premises may not be co-terminous with the Term of the Lease with respect to the original Premises; provided, however, that if the term of the 

  

							
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Lease with respect to the Expansion Space is scheduled to expire after the expiration of the current Term of the Lease with respect to the original Premises, Tenant may elect in its Space
Acceptance Notice to extend the current Term of the Lease with respect to the original Premises to be co-terminous with the Base Term of the Lease with respect to the Expansion Space. Notwithstanding anything
to the contrary contained herein, in no event shall the Work Letter attached to the Lease apply to the Expansion Space. If Tenant fails to deliver a Space Acceptance Notice to Landlord within the required 7 business day period, Tenant shall be
deemed to have waived its rights under this Section 39(a) with respect to the Expansion Space identified in the Pending Deal Notice, and Landlord shall have the right to lease such Expansion Space to the third party subject to the Pending Deal
(or an affiliate of such third party) (“Pending Deal Party”). Tenant’s Right of First Refusal with respect to the Expansion Space identified in the Pending Deal Notice shall be restored if Landlord fails to enter into an
agreement to lease such Expansion Space to the Pending Deal Party within 3 months after Landlord’s delivery of the Pending Deal Notice to Tenant; provided, however, that in no event shall Tenant’s Right of First Refusal extend beyond the
Expansion Right Expiration Date. 
 (b) Amended Lease. If: (i) Tenant fails to timely deliver a Space Acceptance
Notice, or (ii) after the expiration of a period of 10 business days after Landlord’s delivery to Tenant of a lease amendment or lease agreement for Tenant’s lease of the Expansion Space on substantially the same terms and conditions
of this Lease other than business terms and other than as modified by the Pending Deal Notice, no lease amendment or lease agreement for the Expansion Space acceptable to both parties each in their sole and absolute discretion, has been executed,
Tenant shall be deemed to have forever waived its right to lease such Expansion Space. 
 (c) Exceptions.
Notwithstanding the above, the Right of First Refusal shall, at Landlord’s option, not be in effect and may not be exercised by Tenant: 

(i) during any period of time that Tenant is in Default under any provision of the Lease; or 

(ii) if Tenant has been in Default under any provision of the Lease 3 or more times, whether or not the Defaults are cured,
during the 12 month period prior to the date on which Tenant seeks to exercise the Right of First Refusal. 
 (d)
Termination. The Right of First Refusal shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the
commencement date of the lease of such Expansion Space (i) Tenant fails to timely cure any default by Tenant under the Lease; or (ii)Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Right of First
Refusal to the date of the commencement of the lease of the Expansion Space whether or not such Defaults are cured. 
 (e)
Subordinate. Tenant’s rights in connection with the Expansion Right are and shall be subject to and subordinate to any expansion or extension rights granted in the Project to Sequenta, Inc. 

(f) Rights Personal. The Right of First Refusal is personal to Tenant and is not assignable without Landlord’s
consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted
Assignment of this Lease. 

  

							
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Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 (g) No Extensions. The period of time within which the Right of First
Refusal may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Right of First Refusal.” 
  

	8.	 Right to Extend Term. Section 40 of the Lease is hereby deleted in its
entirety and replaced with the following: 

 “40. Right to Extend Term. Tenant shall have the right to extend
the Term of the Lease upon the following terms and conditions: 
 (a) Extension Rights. Tenant shall have 1 right (an
“Extension Right”) to extend the term of this Lease for 2 years (an “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent and the Work Letter) by giving Landlord
written notice of its election to exercise such Extension Right at least 6 months prior, and no earlier than9 months prior, to the expiration of the Base Term of the Lease. 

Base Rent shall be adjusted on the commencement date of such Extension Term and on each annual anniversary of the commencement
of such Extension Term by multiplying the Base Rent payable immediately before such adjustment by 3% and adding the resulting amount to the Base Rent payable immediately before such adjustment. 

(b) Rights Personal. The Extension Right is personal to Tenant and is not assignable without Landlord’s consent,
which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment
of this Lease. 
 (c) Exceptions. Notwithstanding anything set forth above to the contrary, the Extension Right shall,
at Landlord’s option, not be in effect and Tenant may not exercise the Extension Right: 
 (i) during any period of time
that Tenant is in Default under any provision of this Lease; or 
 (ii) if Tenant has been in Default under any provision of
this Lease 3 or more times, whether or not the Defaults are cured, during the 12 month period immediately prior to the date that Tenant intends to exercise the Extension Right, whether or not the Defaults are cured. 

(d) No Extensions. The period of time within which the Extension Right may be exercised shall not be extended or
enlarged by reason of Tenant’s inability to exercise the Extension Right. 
 (e) Termination. The Extension Right
shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Extension Right, if, after such exercise, but prior to the commencement date of the Extension Term,
(i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the Extension
Term, whether or not such Defaults are cured.” 
  

	9.	 Disclosure. For purposes of Section 1938 of the California Civil Code, as of the date
of this Second Amendment, Tenant acknowledges having been advised by Landlord that the Project has not been inspected by a certified access specialist. 

  

							
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	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	10.	 Miscellaneous. 

a. This Second Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and
contemporaneous oral and written agreements and discussions. This Second Amendment may be amended only by an agreement in writing, signed by the parties hereto. 

b. Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively,
“Broker”) in connection with the transaction reflected in this Second Amendment and that no Broker brought about this transaction, other than CBRE. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from
and against any claims by any Broker, other than CBRE, claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. Landlord shall be responsible for
all fees of CBRE arising out of the execution of this Second Amendment in accordance with the terms of separate written agreement between Landlord and CBRE. 

c. This Second Amendment is binding upon and shall inure to the benefit of the parties hereto, and their respective successors and assigns.

 d. This Second Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when
taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached there from without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other
counterpart identical thereto except having additional signature pages executed by other parties to this Second Amendment attached thereto. 

e. Except as amended and/or modified by this Second Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease
shall remain in full force and effect, unaltered and unchanged by this Second Amendment. In the event of any conflict between the provisions of this Second Amendment and the provisions of the Lease, the provisions of this Second Amendment shall
prevail. Whether or not specifically amended by this Second Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this Second Amendment. 

[Signatures are on the next page.] 

  

							
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Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment as of the day
and year first above written. 
  

							
	 TENANT:
  

PRINCIPIA BIOPHARMA INC.,
 a Delaware
corporation

		
		 	/s/ Eliot Charles
	By:	 	 Eliot Charles

	Its:	 	Interim CEO
	
	 LANDLORD:
  

ARE-EAST JAMIE COURT, LLC,

a Delaware limited liability company

		
	 By:
	 	 ALEXANDRIA REAL ESTATE EQUITIES, L.P., a Delaware limited partnership,

managing member

			
		 	By:	 	 ARE-QRS CORP.,

a Maryland corporation,
 general partner

				
		 		 	By:	 	 /s/ Eric S. Johnson

		 		 	Its:	 	Eric S. Johnson
		 		 		 	Vice President
		 		 		 	Real Estate Legal Affairs

  

							
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	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 EXHIBIT A 

Expansion Premises 
  

 

  

							
		  		  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 EXHIBIT B 

Expansion Space 
  

 

  

							
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Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 FOURTH AMENDMENT TO LEASE 

THIS FOURTH AMENDMENT TO LEASE (this “Fourth Amendment”) is made as of December 29, 2016, by and between ARE-EAST JAMIE COURT, LLC, a Delaware limited liability company (“Landlord”), and PRINCIPIA BIOPHARMA INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A.
Landlord and Tenant are now parties to that certain Lease Agreement dated as of February 17, 2011, as amended by that certain Amended and Restated First Amendment to Lease Agreement dated as of January 12, 2012, as further amended by that
certain Second Amendment to Lease Agreement dated as of February 25, 2013, and as further amended by that certain Third Amendment to Lease Agreement dated as of November 14, 2014 (the “Third Amendment”) (as amended, the
“Lease”). Pursuant to the Lease, Tenant leases certain premises consisting of approximately 12,574 rentable square feet (“Premises”) in a building located at 400 East Jamie Court, South San Francisco, California.
The Premises are more particularly described in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease. 

B. The Term of the Lease is scheduled to expire on August 31, 2018. 

C. Landlord and Tenant desire, subject to the terms and conditions set forth below, to amend the Lease to, among other things,
(i) reflect the surrender of a portion of the Premises consisting of approximately 3,777 rentable square feet, as shown on Exhibit A attached hereto (the “Surrender Premises”) as of January 14, 2017 (the
“Surrender Date”), and (ii) extend the Term of the Lease with respect to the remaining Premises through January 31, 2019. 

NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and
conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 

 

	1.	 Surrender of Surrender Premises. The Lease with respect to the Surrender Premises shall
terminate as provided for in the Lease on the Surrender Date. Tenant shall voluntarily surrender the Surrender Premises on such date in accordance with all surrender requirements contained in the Lease and in the condition in which Tenant is
required to surrender the Premises as of the expiration of the Lease; provided, however, that SutroVax, Inc., a Delaware corporation (“SutroVax”), the subtenant that currently occupies the Surrender Premises pursuant to that certain
Sublease Agreement between Tenant and SutroVax dated July 10, 2015 (the “Sublease”), shall be entitled to remain in the Surrender Premises so long as SutroVax agrees in writing to attorn to Landlord under the Sublease.
From and after the Surrender Date, Tenant shall have no further rights of any kind with respect to the Surrender Premises nor shall Tenant have any obligations arising out of or resulting from the use or occupancy of, or any event occurring at the
Surrender Premises after the Surrender Date. Without limiting the generality of the foregoing, Tenant shall reasonably cooperate with SutroVax before the Surrender Date to provide a Surrender Plan to Landlord as required under the Lease with respect
to the Surrender Premises, but Tenant shall have no further obligation with respect to the preparation or delivery of the Surrender Plan for the Surrender Premises after the Surrender Date. Notwithstanding the foregoing, those provisions of the
Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the Surrender Premises and termination of the Lease with respect to the Surrender Premises as provided for herein. Nothing herein shall excuse Tenant
from its obligations under the Lease with respect to the Surrender Premises prior to the Surrender Date. 

  

							
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Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 The failure by SutroVax to surrender the Surrender Premises on or before the Surrender Date shall
not constitute a holdover by Tenant in the Surrender Premises nor shall it constitute a Default by Tenant under the Lease. 
  

	2.	 Definition of Premises and Rentable Area of Premises. Commencing on January 15, 2017,
the defined terms “Premises” and “Rentable Area of Premises” on Page 1 of the Lease shall be deleted in their entirety and replaced with the following: 

“Premises: That portion of the Building containing approximately 8,797 rentable square feet, consisting of the (i)
“Original Premises” containing approximately 8,399 rentable square feet, and (ii) “Second Expansion Premises” containing approximately 398 rentable square feet, all as determined by Landlord, as shown on Exhibit
A.” 
 “Rentable Area of Premises: 8,797 sq. ft.” 

As of January 15, 2017, Exhibit A to the Lease shall be amended to exclude the Surrender Premises. 

 

	3.	 Base Term. The expiration date of the Term of the Lease with respect to the remaining
Premises (not including the Surrender Premises) is hereby extended through January 31, 2019. 

  

	4.	 Base Rent. Tenant shall continue to pay Base Rent for the entire Premises (including the
Surrender Premises) as provided under the Lease through the Surrender Date. Commencing on January 15, 2017, Tenant shall no longer be required to pay Base Rent with respect to the Surrender Premises. Tenant shall continue to pay Base Rent for
the remaining Premises as provided in Section 2 of the Third Amendment (and as adjusted pursuant to Section 2 of the Third Amendment) through August 31, 2018. Commencing on September 1,
2018, Tenant shall continue paying Base Rent for the remaining Premises at the same per square foot rate per month paid for the month of August 2018, through January 31, 2019. 

 

	5.	 Definition of Tenant’s Share of Operating Expenses. Commencing on January 15,
2017, the defined terms “Tenant’s Share of Operating Expenses for the Building” and “Tenant’s Share of Operating Expenses for the Project” on page 1 of the Lease are deleted in their entirety and replaced
with the following: 

 “Tenant’s Share of Operating Expenses for the Building: 9.96%”

 “Tenant’s Share of Operating Expenses for the Project: 5.39%” 

Notwithstanding anything to the contrary contained in the Lease, there shall be no reconciliation of Tenant’s Share of Operating Expenses
payable with respect to the Surrender Premises for the 2016 calendar year. 
  

	6.	 Termination Payment. Landlord shall, within 10 business days following the Surrender Date,
deliver to Tenant funds in the amount of $[•] as consideration for Tenant’s agreement to enter into this Fourth Amendment and surrendering the Surrender Premises on or before the Surrender Date. 

 

	7.	 Condition Precedent. Notwithstanding anything to the contrary contained in this Fourth
Amendment, Tenant and Landlord acknowledge and agree that the effectiveness of this Fourth Amendment shall be subject to the following condition precedent (“Conditions Precedent”) having been satisfied: (i) Landlord shall have
entered into a lease agreement with a third party (“New Tenant”) pursuant to which New Tenant agrees to lease the Surrender Premises, which lease agreement shall be on terms and conditions acceptable to Landlord, in Landlord’s

  

							
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Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

	 	
reasonable discretion, and (ii) SutroVax shall have attorned to Landlord under the Sublease effective as of January 15, 2017. In the event that the Condition Precedents are not
satisfied, Landlord shall have the right to terminate this Fourth Amendment upon delivery of written notice to Tenant, in which case this Fourth Amendment shall be null and void and of no further force or effect. Landlord shall have no liability
whatsoever to Tenant relating to or arising from Landlord’s inability or failure to cause the Conditions Precedent to be satisfied. 

  

	8.	 Disclosure. For purposes of Section 1938 of the California Civil Code, as of the date
of this Fourth Amendment, Tenant acknowledges having been advised by Landlord that the Project has not been inspected by a certified access specialist. 

  

	9.	 OFAC. Tenant and all beneficial owners of Tenant are currently (a) in compliance with
and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation
relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List, Foreign Sanctions Evaders List or the
Sectoral Sanctions Identifications List, which are all maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a
person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules. 

  

	10.	 Legal Fees. Landlord agrees to reimburse Tenant for the actual reasonable legal fees
incurred by Tenant in connection with this Fourth Amendment and related documents being negotiated concurrently herewith with respect to the termination of the SutroVax Sublease, up to $[•], within 30 days following Tenant’s delivery to
Landlord of evidence reasonably satisfactory to Landlord of such costs incurred by Tenant. 

  

	11.	 Miscellaneous. 

a. This Fourth Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and
contemporaneous oral and written agreements and discussions. This Fourth Amendment may be amended only by an agreement in writing, signed by the parties hereto. 

b. Landlord and Tenant each represents and warrants that it has not dealt with anybroker, agent or other person (collectively,
“Broker”) in connection with the transaction reflected in this Fourth Amendment and that no Broker brought about this transaction. Landlord andTenant each hereby agree to indemnify and hold the other harmless from and against any
claims by any Broker claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. 

c. This Fourth Amendment is binding upon and shall inure to the benefit of the parties hereto, and their respective successors and assigns.

 d. This Fourth Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when
taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other
counterpart identical thereto except having additional signature pages executed by other parties to this Fourth Amendment attached thereto. 

  

							
		  	3	  	

	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 e. Except as amended and/or modified by this Fourth Amendment, the Lease is hereby ratified and
confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this Fourth Amendment. In the event of any conflict between the provisions of this Fourth Amendment and the provisions of the Lease, the
provisions of thisFourth Amendment shall prevail. Whether or not specifically amended by this Fourth Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this
Fourth Amendment. 
 [Signatures are on the next page.] 

  

							
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	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment as of the day
and year first above written. 
  

							
	LANDLORD:	 	ARE-EAST JAMIE COURT, LLC,
		 	a Delaware limited liability company
			
		 	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
		 		 	a Delaware limited partnership,
		 		 	managing member
				
		 		 	By:	 	ARE-QRS CORP.,
		 		 		 	a Maryland corporation,
		 		 		 	general partner
				
		 		 		 	By: /s/ Eric S.
Johnson                                        
                    
		 		 		 	Its: Senior Vice President, RE Legal Affairs                          
		
	TENANT:	 	PRINCIPIA BIOPHARMA INC.,
		 	a Delaware corporation
			
		 	By:	 	 /s/ Christopher Y. Chai

		 	Its:	 	CFO

  

							
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	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 Exhibit A 

Surrender Premises 
 

 

  

							
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	  	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL RIGHT RESERVED. Confidential and Proprietary – Do Not Copy or Distribute. Alexandria and the Alexandria Logo are registered trademarks of Alexandria Real Estate
Equities, Inc.

  
 [*] = Certain confidential information
contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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