Document:

exv10w12

EXHIBIT
10.12

SUBLEASE

Mount Eden Business Park

 

Hayward, California

     THIS SUBLEASE (this “Sublease”), dated for reference purposes only, August 1, 2008, is made by
and between Guava Technologies, (“Sublandlord”), a Delaware Corporation and Anthera
Pharmaceuticals, a Delaware corporation (“Subtenant”).

RECITALS

     A. Newtower Trust Company Multi-Employer Property Trust, as Landlord, and Sublandlord, as
Lessee, entered into a Lease dated July 2006 (the “Master Lease”), a copy of which is attached
hereto as Exhibit “A” and incorporated by reference herein, with respect to certain real property
located in Mount Eden Business Park, including all improvements thereon, commonly known as 25801
Industrial Parkway, California (the “Sublease Property”). The Sublease Property includes a
building thereon containing approximately 42,885 rentable square feet (the “Building”).

     B. Sublandlord wishes to sublease a portion of the Building to Subtenant and Subtenant wishes
to sublease a portion of the Building from Sublandlord upon the terms and conditions contained
herein.

AGREEMENT

     In consideration of the covenants and promises contained herein, the parties agree as follows:

     1. Definitions. Capitalized terms used herein and not otherwise defined herein shall have the
meanings ascribed to them in the Master Lease.

     2. Sublease Premises. The premises shall comprise of approximately (7,794) rentable square
feet being a portion of a single story building located at 25801 Industrial Boulevard, Hayward, CA,
as more particularly depicted on Exhibit “A” attached hereto (the “Sublease Premises”). Sublandlord
hereby leases to Subtenant and Subtenant hereby leases from Sublandlord the Sublease Premises
subject to and on the terms and conditions set forth herein. During the Term, Tenant shall have
use of the Common Area.

 

 

     3. Common Area. Subtenant shall have access and use of the common area of the Sublease
Property, including, without limitation, the common area lobby, restrooms, server room, cafeteria
room and kitchen/cafeteria, and the two (2) lobby conference
rooms.

     4. Sublandlord Improvements. On or before the Commencement Date, Sublandlord at Sublandlord’s
sole cost and expense shall demise the Sublease Premises, and build an additional four (4)
private offices and one conference room in accordance with the space plan attached hereto as
Exhibit “C”. Subtenant will not be required to restore Sublease Premises to its original
condition.

     5. FF&E. Subtenant shall have use of all existing Furnishings, Fixtures & Equipment in the
Sublease Premises throughout Sublease term at no cost to Subtenant. Subtenant requires Sublandlord
to provide twenty (20) office workstations in the Sublease Premises, and Sublandlord shall provide
such workstations on or before the Commencement Date at Sublandlord’s sole cost.

     6. Term. The term of this Sublease shall be for twenty-four (24) months commencing on
October 1, 2008 (the “Commencement Date”) and expiring at 5:00 p.m. local time on September 30,
2010 unless sooner terminated pursuant to any provision hereof.

     7. Option To Renew. Subtenant shall have one (1) option to renew for ten (10) Months (the
“Option Term”), but in no event shall the sublease term be
extended beyond the Master Lease
termination date of July 31, 2011.

     8. Rent.

          (a) Subtenant shall pay to Sublandlord as Sublease Monthly Base Rent (“Sublease Monthly Base
Rent”) for the first month of the Term the sum of Seven Thousand Seven Hundred Ninety Four Dollars
($7,794.00) upon the execution and delivery of this Sublease by Sublandlord and Subtenant, and upon
Sublandlord obtaining written consent of the Master landlord under the Master Lease to this
Sublease. Subtenant shall pay to Sublandlord Sublease Monthly Base Rent for the remainder of the
term in monthly installments in advance on the first day of each calendar month, as follows:

     Months 01 — 24 (and Months 01 — 10 of the Option Term, if applicable): $7,794.00

 

 

          Sublease Monthly Base Rent for any period during the term which is less than one calendar
month shall be a pro rata portion of the monthly installment based on a 30-day month.

          (b) In addition to the Sublease Monthly Base Rent, except for those items of Operating Costs
that Subtenant is paying directly to the provider, Subtenant shall pay to Sublandlord as additional
rent its pro rata share of Operating Cost Reimbursements (as defined in the Master Lease) pursuant
to Paragraph 3 and Rider 1 of the Master Lease, plus sublessee’s pro rata share of all utilities,
maintenance, and janitorial services. Subtenant’s pro rata share of Operating Cost Reimbursements
is based on the following: Subtenant’s pro rata share of the Building Costs is 18.19%, and
Subtenants’ pro rata share of the Project Costs is 2.1%.

          (c) Computation of Operating Costs Reimbursement — The determination and computation of the
Operating Costs Reimbursements shall be made by the Sublandlord. After the close of each calendar
year, Sublandlord shall deliver to Subtenant a written statement
setting forth the Operating Costs
Reimbursements payable for the preceding calendar year. If the Operating Costs Reimbursements
exceed the Operating Costs Reimbursements Estimate paid by Subtenant, Subtenant shall pay the
amount of such excess to Sublandlord with twenty (20) days after delivery of such statement to
Subtenant. If such statement shows the Operating Costs Reimbursements to be less than the
Operating Costs Reimbursements Estimate paid by Subtenant, then the amount of such overpayment
shall be paid by Sublandlord to Subtenant within twenty (20) days following the date of such
statement or, at Sublandlord’s option, shall be credited toward future installment(s) of Operating
Costs Reimbursements Estimate.

          (d) Sublease Monthly Base Rent, additional rent, and all other sums which Subtenant is
obligated to pay under the terms of this Sublease shall constitute “Rent.” Rent shall be payable
in monthly installments in advance on the first day of each calendar month in lawful money of the
United States to Sublandlord at the address stated herein without deduction or offset and without
prior demand or notice, unless otherwise specified herein.

          (e) Operating Costs Audit — Sublandlord shall maintain records concerning estimated and
actual Operating Costs Reimbursements for no less than twelve (12) months following the period
covered by the statement or statements furnished to Subtenant, after which time Sublandlord may
dispose of such records. Reimbursements or other payments required to be made by it under this
sublease and provided that Subtenant is not otherwise in default under this sublease,

 

 

Subtenant, may, at Subtenant’s sole cost and expense,
inspect Sublandlord’s records. Such
inspection shall be conducted no more than once each year, during Sublandlord’s normal business
hours, within ninety (90) calendar days after receipt of Sublandlord’s written statement of
Operating Costs Reimbursements for the previous year, upon first furnishing Sublandlord at least
twenty (20) calendar days prior written notice. Any error disclosed by the review shall be
promptly corrected by Sublandlord; provided, however, that if Sublandlord disagrees with
any such claimed errors, Sublandlord shall have the right to cause another review to be made by an
auditor of Sublandlord’s choice. In the event the results of the review of records (taking into
account, if applicable, the results of any additional review caused by Sublandlord) reveal that
Subtenant has overpaid obligations for a preceding period, the amount of such overpayment shall be
credited against Subtenant’s subsequent installment of Operating Costs Reimbursements. In the
event that such results show that Subtenant has underpaid its obligations for a preceding period,
the amount of such underpayment shall be paid by Subtenant to Sublandlord with the next
succeeding installment of Operating Costs Reimbursements. If the Operating Costs Reimbursements
for any given year were improperly computed and are overstated by more than 5%, Sublandlord shall
reimburse Subtenant for the cost of its audit.

          (f) If any installment of Sublease Monthly Base Rent, additional rent, or any other sum due
from Subtenant is not received by Sublandlord within five (5) days after the same is due, Subtenant
shall pay to Sublandlord an additional sum equal to Five percent (5%) of the amount overdue as a
late charge, but Sublandlord will waive the late charge for the first such failure occurring during
any calendar year during the Term. The parties agree that this late charge represents a fair and
reasonable estimate of the costs that Sublandlord will incur by reason of the late payment by
Subtenant. Acceptance of any late charge shall not constitute a waiver of Subtenant’s default with
respect to the overdue amount. Any amount not paid within ten (10) days after Subtenant’s receipt
of written notice that such amount is due shall bear interest from the date due until paid at the
lesser rate of (1) the prime rate of interest as published in the “Wall Street Journal,” plus two
percent (2%) or (2) the maximum rate allowed by law, in addition to the late payment charge.

          Initials: Sublandlord                    Subtenant

     9. Security Deposit. Subtenant shall deposit with Sublandlord upon the execution and delivery
of this Sublease the sum of Seven Thousand Seven Hundred Ninety Four Dollars ($7,794), which shall
be held by Sublandlord as a security deposit for Subtenant’s performance of all of the terms,
covenants and

 

 

conditions of this Sublease (the “Security Deposit”). If Subtenant defaults under any provision of
this Sublease, Sublandlord may (but shall not be required to) use, apply or retain all or any part
of the Security Deposit for the payment of any amount Sublandlord may spend by reason of
Subtenant’s default or to compensate Sublandlord for any loss or damage Sublandlord may suffer
because of Subtenant’s default. If any portion of the Security Deposit is so used or applied,
Subtenant shall, within ten (10) days after written demand, deposit cash with Sublandlord in an
amount sufficient to restore the Security Deposit to its original amount. Sublandlord is not
required to keep the Security Deposit separate from its general funds, and Subtenant is not
entitled to interest on the Security Deposit. If Subtenant performs each of its obligations under
this Sublease, the Security Deposit, or any balance thereof, shall be returned to Subtenant within
thirty (30) days after the later of the expiration of the Sublease term or the date Subtenant
vacates the Sublease Premises.

     10. Use. Subtenant shall use and occupy the Sublease Premises for the purpose of general
office and any other related lawful purpose in conformity to the Master Lease.

     11. Condition of Sublease Premises. Sublandlord warrants that the existing sidewalks,
driveways, parking lot, truck doors, mechanical (including HVAC), electrical, plumbing, roof and
roofing systems of the Building will be in good operating condition on the Commencement Date and
Sublandlord shall deliver the Sublease Premises to Subtenant on the Commencement Date with all of
the foregoing in good operating condition. Sublandlord warrants to Subtenant that upon Lease
Commencement, the Sublease Premises will be watertight, the carpets in the Sublease Premises will
be in good condition and repair, the walls of the Sublease Premises will be freshly painted or
touched up to look clean and uniform, the Sublease Premises professionally cleaned and all
operating systems servicing the Sublease Premises will be in good operating condition and repair,
and Sublandlord shall deliver the Sublease Premises to Subtenant on the Commencement Date in
accordance with the foregoing. Sublandlord shall provide Subtenant with use of Sublandlord’s phone
and security systems (including security codes); provided, however, that Subtenant shall pay the
carrier’s charge for all phone calls made by Subtenant based on the carrier’s invoice (which
Sublandlord shall supply to Subtenant) and Subtenant shall pay for the third party costs to extend
said security system to the Sublease Premises and Sublandlord shall cooperate with Subtenant in
connection therewith.

     12. Master landlord’s Services. Master Landlord is obligated by the Master Lease to provide
Sublandlord with certain operating services, maintenance

 

 

and repairs (collectively, “Master landlord’s Services”). Sublandlord has no obligation to
furnish any of Master landlord’s Services to Subtenant and Sublandlord shall not be liable for any
disruption or failure of such services. Upon receipt by Sublandlord of a written complaint from
Subtenant, Sublandlord shall, to the extent of Sublandlord’s rights under the Master Lease, Master
landlord’s obligation to take all appropriate action to correct any defect, inadequacy or
insufficiency in the provision of Master landlord’s Services.

     13. Maintenance and Repairs. Other than with respect to those matters which are the Master
landlord’s obligations under the Master Lease and subject to Sublandlord’s warranty in Section 11
above, Subtenant shall, at Subtenant’s expense, maintain the Sublease Premises, including, without
limitation, all improvements to the Sublease Premises, in the condition delivered to Subtenant,
excepting only reasonable wear and tear and casualty.

     14. Hazardous Substances. Subtenant shall comply with this Paragraph 14, Paragraph 5.10 of
the Master Lease, and applicable law with respect to Hazardous Substances, with respect to
Subtenant’s use and occupancy of the Sublease Premises. Further:

          (a) Neither Subtenant nor any of Subtenant’s officers, directors, agents, contractors,
employees or invitees shall use, generate, manufacture, produce, store, release, discharge or
dispose of on, under or about the Sublease Premises, or off-site the Sublease Premises affecting
the Building, or transport to or from the Sublease Premises, any Hazardous Substance except in
compliance with Environmental Laws. The term “Hazardous Substance” means any hazardous or toxic
substance, material or waste, pollutants or contaminants, as defined, listed or regulated now or in
the future by any federal, state or local law, ordinance, code, regulation, rule, order or decree
regulating, relating to or imposing liability or standards of conduct concerning, any environmental
conditions, health or industrial hygiene, including without limitation, (i) chlorinated solvents,
(ii) petroleum products or by-products, (iii) asbestos and (iv) polychlorinated biphenyls. The
term “Environmental Law” means any federal, state or local law, statute, ordinance, regulation or
order pertaining to health, industrial hygiene, environmental conditions or hazardous substances or
materials including those defined in this Paragraph as “Hazardous Substances.”

          (b) Upon receipt of written notice of the same, Subtenant shall give prompt written notice to
Sublandlord of any proceeding or inquiry by any governmental authority with respect to the presence
of any Hazardous Substance on the Sublease Premises, any claims made or threatened by any third
party against

 

 

Subtenant or the Sublease Premises relating to any loss or injury resulting from any Hazardous
Substance, and the discovery of any occurrence or condition on the Sublease Premises that could
cause the Sublease Premises or any part thereof to be subject to any restrictions on occupancy or
use under any Environmental Law.

          (c) Subtenant shall protect, indemnify, defend and hold harmless Sublandlord and Master
Landlord, and their respective directors, officers, employees, agents, affiliates, successors and
assigns from any loss, damage, cost, expense or liability (including reasonable attorneys’ fees and
costs) directly or indirectly arising out of or attributable to the use, generation, manufacture,
production, storage, release, discharge, disposal or presence of a Hazardous Substance on the
Sublease Premises or off-site of the Sublease Premises affecting the Property to the extent caused
by Subtenant or by any of its directors, officers, employees, agents, contractors or invitees,
including, without limitation, the costs of any required or necessary remediation, repairs, cleanup
or detoxification of the Sublease Premises and the Property and the preparation and implementation
of any closure, remedial or other required plans and not resulting from the acts or omissions of
Sublandlord or Master Landlord.

     15. Default. Any of the following shall constitute a default by Subtenant:

          (a) Failure by Subtenant to pay any rent, Security Deposit, or other sum which Subtenant is
required to pay hereunder within five (5) days after receipt by Subtenant of written demand for
payment from Sublandlord; or

          (b) Failure by Subtenant to observe or perform any other provision of this Sublease for a
period of seven (7) days after receipt by Subtenant of written notice from Sublandlord specifying
such default, unless Subtenant has commenced and is implementing the cure in due course. The
seven-day grace period shall not apply to Subtenant’s breach of its obligations to maintain
insurance coverages hereunder or with respect to any specified default under the Master Lease that
provides a lesser grace period (in which case the grace period so specified shall apply to such
default).

     16. Remedies. In the event of a default by Subtenant, Sublandlord shall have all the remedies
provided pursuant to Section 8, Default and Remedies,of the Master Lease and by applicable law.
Sublandlord may resort to its remedies cumulatively or in the alternative.

     17. Insurance. Subtenant shall obtain and keep in full force and effect with respect to the
Sublease Premises, at Subtenant’s sole cost and expense, during

 

 

the term of this Sublease all insurance required to be maintained by the “Lessee” under the
Master Lease to the extent applicable to the Sublease Premises, excluding the insurance described
in Section 6.2.1.(b) with respect to the initial Tenant Improvements and the improvements to be
constructed by Sublandlord pursuant to this Sublease; provided that Sublandlord and Master landlord
shall be named as an additional insured under Subtenant’s commercial general liability and property
policies.

     Within five (5) days after the execution of this Sublease, and prior to the commencement of
the term of this Sublease, Subtenant shall deliver to Sublandlord and Master landlord copies of
policies or certificates complying with this Sublease, in form required by Section 6.2.2 of the
Master Lease. If Subtenant fails to obtain, maintain and/or provide evidence of insurance required
hereunder, Sublandlord may obtain the same and Subtenant shall, upon demand, reimburse Sublandlord
for the cost thereof. No such action by Sublandlord or reimbursement by Subtenant shall be a
waiver of default or other remedies. In no event shall the limits of such policies be considered
as limiting liability of Subtenant under this Sublease.

     18. Waiver of Subrogation. Sublandlord and Subtenant each hereby release and relieve the
other, and waive their entire rights of recovery for loss or damage to property located within or
constituting a part or all of the Sublease Premises or the Building to the extent that the loss or
damage is covered by (a) the injured party’s insurance, or (b) the insurance which the injured
party is required to carry under Paragraph 14, whichever is greater. This waiver applies whether
or not the loss is due to the negligent acts or omissions of Sublandlord or Subtenant, or their
respective officers, directors, employees, agents, contractors, or invitees. Sublandlord and
Subtenant shall each have their respective property insurers endorse the applicable insurance
policies to reflect the foregoing waiver; provided, however, that the endorsement shall not be
required if the applicable policy of insurance permits the named insured to waive rights of
subrogation on a blanket basis, in which case the blanket waiver shall be acceptable.

     Subtenant hereby releases Master landlord and Sublandlord, and Subtenant waives any claim
which Subtenant may at any time have against Master landlord or Sublandlord, for loss or damage to
property located within or constituting part or all of the Sublease Premises or the Property to the
extent that the loss or damage suffered by Subtenant is covered by: (a) the insurance of Master
landlord or Sublandlord, or (b) the insurance which Master landlord and Sublandlord are required to
carry under the Master Lease, whichever is greater. The foregoing release and waiver applies
whether or not the loss is due to the negligent acts or omissions of Master landlord or
Sublandlord, or their respective officers, directors,

 

 

employees, agents, contractors, or invitees. Subtenant shall have its property insurers
endorse the applicable insurance policies to reflect the foregoing waiver of claims; provided,
however, that the endorsement shall not be required if the applicable policy of insurance permits
the named insured to waive rights of subrogation on a blanket basis, in which case the blanket
waiver shall be acceptable.

     Subtenant shall be entitled to request to Master landlord and Sublandlord that they provide a
similar waiver to Subtenant upon such terms and conditions as the Master landlord and Sublandlord
may require.

     19. Liability of Sublandlord. Neither Master landlord nor Sublandlord shall have any personal
liability under this Sublease. Subtenant shall look solely to rents, issues and profits from the
Sublease Premises for the satisfaction of any judgment or decree against Master landlord or
Sublandlord based upon any default by Sublandlord under this Sublease, or based upon any default by
Master landlord under the Master Lease, and no other property or assets of Master landlord or
Sublandlord shall be subject to levy, execution or other enforcement procedures for satisfaction of
any such judgment or decree.

     20. Indemnification. Subject to Sections 4, 11 and 18 above and Section 6.4 of the Master
Lease

     Subtenant shall defend, indemnify and hold harmless Master landlord and Sublandlord from all
claims, costs, losses, liabilities, judgments and damages, including actual attorney’s fees, on
behalf of any party for any bodily injury or property damage to the extent caused by or arising in
connection with: (i) the use, or occupancy of the Sublease Premises by Subtenant; (ii) the
negligence or willful misconduct of Subtenant or its employees, contractors, agents or invitees; or
(iii) the breach by Subtenant in the performance of any of Subtenant’s obligations under this
Sublease or under the provisions of the Master Lease assumed hereunder; provided that Subtenant
shall not indemnify and hold harmless Master landlord or Sublandlord
for their gross negligence or
willful misconduct or breach of this Sublease or the Master Lease. The foregoing indemnification
shall survive the expiration or sooner termination of this Sublease.

     21. Master Lease.

          (a) This Sublease is subject and subordinate to the Master Lease and to all mortgages and
deeds of trust which may now or hereafter affect the Property, and to any and all renewals,
modifications, consolidations, replacements

 

 

and extensions thereof; provided, however that Sublandlord shall not modify the Master Lease
in any manner which would diminish Subtenant’s rights or increase Subtenant’s obligations under
this Sublease. If for any reason the Master Lease terminates before the expiration of the term of
this Sublease, this Sublease shall also terminate automatically.

          (b) Except to the extent that this Sublease conflicts with the terms of the Master Lease and
subject to and without limitation on Sublandlord’s warranties and covenants contained in this
Sublease, Subtenant agrees, to the extent applicable to the Sublease Premises only, to assume,
perform, and be bound by all obligations and responsibilities of Sublandlord as “Lessee” under the
Master Lease as set forth in the Master Lease, except with respect to payment of rent, Security
Deposit, and any other sums provided for herein which shall be governed by this Sublease; and,
provided, that Sections 1: Basic Terms (except for Operating Cost Reimbursements),
2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 3.2, 3.3, 3.5, 3.6, 9.1, and Exhibits
D, E, F, and Rider 2 of the Master Lease
shall not apply to this Sublease. Tenant shall not be responsible for failure of the Sublease
Premises to comply with Access Laws, Sublandlord shall perform all of its covenants under the
Master Lease and shall, for the benefit of Subtenant, perform all of the Master landlord’s
covenants under the Master Lease with respect to the Sublease Premises and/or enforce the Master
landlord’s warranties and representations under the Master Lease and Master landlord’s obligation
to perform all of its covenants under the Master Lease. To the extent that Subtenant desires to
exercise a right which is subject to Master landlord’s consent, Sublandlord shall submit to Master
landlord and prosecute such request for consent, at Subtenant’s cost.

     Neither Sublandlord nor Subtenant shall neither do nor permit (to the extent affirmatively
obligated elsewhere in the Master lease or this Sublease to take action to prevent) anything to be
done that would cause the Master Lease to be terminated or forfeited by reason of any right of
termination or forfeiture reserved or vested in Master landlord under the Master Lease.

     22. Parking. Subtenant shall have the right to 3.2 parking spaces in the parking facilities
at the Sublease Property for each 1,000 square feet in the Sublease Premises throughout Sublease
term at no cost to Subtenant.

     23. Assignment/Subletting. As per Section 7 (Assignment and Subletting by the Tenant), of the
Master Lease, however Subtenant may sublease / assign all of the Sublease Premises.

 

 

     24. Notices. Any notice regarding a breach of this Sublease or termination thereof shall be
in writing and be sent by certified mail or personally delivered to:

	 	 	 
	     In the case of Sublandlord:

	 	Guava Technologies
	 

	 	25801 Industrial Blvd.
	 

	 	Hayward, CA
	 
	 

	 	Attention: CFO
	 
	 	 
	     With a copy to:

	 	CFO
	 
	 	 
	     Or, in the case of Subtenant:

	 	Anthera Pharmaceuticals, Inc.
	 

	 	25801 Industrial Blvd.
	 

	 	Hayward, CA
	 
	 

	 	Attention: Chris Lowe

     Notice shall be deemed given when so delivered to Sublandlord or Subtenant, or three (3) days
after it is placed, properly addressed with postage prepaid, in a depository for United States
certified mail or when delivered in person or on the next business day after deposited with a
recognized overnight delivery service (with delivery for the next business day). Either party may
provide for a different address by notifying the other party of said change as provided for herein.

     25. Surrender of Sublease Premises. Prior to expiration of this Sublease and subject to any
agreement with Master landlord to the contrary (provided such agreement releases Sublandlord and
Subtenant of their respective obligations pursuant to the Master Lease), Subtenant shall remove all
its trade fixtures or other personal property and (provided, however, that notwithstanding anything
to the contrary contained herein or in the Master Lease, Tenant shall have the right to remove its
trade fixtures and personal property), upon the expiration of the term of this Sublease or sooner
termination hereof, surrender the Sublease-Premises in the condition-received reasonable wear and
tear and casualty excepted, time being of the essence. If the
Sublease-Premises are not so
surrendered, then Subtenant shall be liable to Sublandlord for all costs incurred by Sublandlord as
a result thereof, including Sublandlord’s reasonable attorneys’ fees, plus interest thereon at the
interest rate provided for in the Master Lease.

     26. Holding Over. Subtenant acknowledges that the expiration date of the Sublease is
September 30, 2010 and that Subtenant shall surrender the Sublease

 

 

Premises no later than that date in accordance with the terms of this Sublease. If Subtenant
holds over after expiration or termination of this Sublease without written consent of Sublandlord,
Subtenant shall indemnify and hold harmless Sublandlord from all claims, costs, expenses (including
reasonable attorneys’ fees) resulting from Subtenant’s delay in surrendering the Premises, and
shall pay Sublandlord holdover rent of 150% of the Sublease Monthly Base Rent.

     27. Signage. Subtenant, at Subtenant’s sole cost and expense, may install signage upon
obtaining the prior written approval of Sublandlord and Master landlord.

     28. Real Estate Broker. The parties acknowledge that CresaPartners is acting as the sole real
estate representative for the Subtenant. Sublandlord shall pay CresaPartners six percent (6%) of
the Base Rent in connection with this Sublease. Said fee shall be due and payable to CresaPartners
immediately upon Sublease commencement date by and between the Parties hereto.

     29. Consent by Sublandlord. Whenever Sublandlord’s consent or approval is required under this
Sublease, such consent or approval may be withheld at Sublandlord’s sole discretion unless
otherwise indicated except to the extent that the Master Lease provides that the Master landlord
act reasonably under similar circumstances.

     30. Successors and Assigns. Subject to the restriction contained herein against assignment of
this Sublease by Subtenant, the covenants and conditions contained in this Sublease shall bind the
heirs, successors, executors, administrators and assigns of the parties.

     31. Attorneys’ Fees. In the event legal proceedings are initiated to enforce any provision of
this Sublease, to recover any rent due under this Sublease, for the breach of any covenant or
condition of this Sublease, or for the restitution of the Premises to Sublandlord and/or eviction
of Subtenant, the prevailing party shall be entitled to recover, as an element of its costs of suit
and not as damages, reasonable attorneys’ fees and costs to be fixed by the court.

     32. Entire Agreement, Merger and Waiver. This Sublease supersedes and cancels all previous
negotiations, arrangements, offers, agreements or understandings, if any, between the parties.
This Sublease expresses and contains the entire agreement of the parties and there are no express
or implied representations, warranties or agreements between them, except as contained in this
Sublease. This Sublease may not be modified, amended or supplemented

 

 

except by a writing signed by Sublandlord, Subtenant, and approved by Master landlord. No
consent given or waiver made by either party hereunder of any breach by the other party of any
provision of this Sublease shall operate or be construed in any manner as a waiver of any
subsequent breach of the same or of any other provision.

     33. Captions. The captions of this Sublease are provided for convenience only and shall not
be used in construing its meaning.

     34. Severability. If any provision of this Sublease is found to be unenforceable, the
remainder of this Sublease shall not be affected thereby.

     35. Authority. If Subtenant is a corporation or partnership, Subtenant represents and
warrants that—the individual executing this Sublease is duly authorized to execute and deliver this
Sublease on behalf of Subtenant and that this Sublease is binding upon Subtenant according to its
terms. If Subtenant is a corporation, the authorization of the individual executing and delivering
this Sublease is in accordance with a duly adopted resolution of Subtenant’s Board of Directors and
Subtenant’s Bylaws. Concurrently with execution of this Sublease, Subtenant shall deliver to
Sublandlord such evidence of authorization as Sublandlord may reasonably require.

     36. Sublandlord and Subtenant Relationship Only. Nothing contained in this Sublease shall be
construed to create the relationship of principal and agent, partnership, joint venture or any
association between Sublandlord and Subtenant.

     37. No Recording. This Sublease shall not be recorded.

     38. Consent to Sublease by Master landlord. This Sublease is subject to the consent of Master
landlord. Accordingly, it shall be a condition precedent of this Sublease that Sublandlord has
obtained the prior written consent of Master landlord to this Sublease in form approved by Master
landlord.

     39. Waiver of Trial by Jury. Sublandlord and Subtenant each agree to and they hereby do waive
trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto
against the other on any matters whatsoever arising out of or in any way connected with this
Sublease, the relationship of Sublandlord and Subtenant, Subtenant’s use or occupancy of the
Premises and/or any claim of injury or damage, and any statutory remedy.

     40. Counterparts. This Sublease and the Master landlord’s Consent to Sublease may be executed
in one or more counterparts.

 

 

     41. No Default. Sublandlord represents to Subtenant that there have been and there are no
defaults under the Master Lease.

     IN WITNESS WHEREOF, the parties have executed this Sublease on the dates shown opposite their
signatures below.

SUBLANDLORD:

Guava Technologies

a Delaware Corporation

	 	 	 	 	 	 	 
	Dated: August 25, 2008

	 	By:
	 	/s/ Lawrence Bruder
	 	 
	

	 	
Its
	 	Lawrence Bruder
	 	 
	 

	 	 	 	CEO	 	 
	 
	 	 	 	 	 	 
	Dated:                     , 2008

	 	By:	 	 	 	 
	 

	 	 	 	 

Its
	 	 
	 
	 	 	 	 	 	 
	 	 	SUBTENANT:
	 
	 	 	 	 	 	 
	 	 	Anthera Pharmaceuticals, Inc.
	 	 	a Delaware Corporation
	 
	 	 	 	 	 	 
	Dated: August 25, 2008

	 	By:
	 	/s/ Chris Lowe 

	 
	 
	 

	 	Its
	 	Chris Lowe	 	 
	 

	 	 	 	CFO	 	 
	 
	 	 	 	 	 	 
	Dated:                     , 2008

	 	By:exv10w13

EXHIBIT
10.13

ANTHERA PHARMACEUTICALS, INC.

NOTE AND WARRANT PURCHASE AGREEMENT

JULY 17, 2009

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	 	 	 	 	 	 	 
	1.	 	Definitions	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	2.	 	Amount and Terms of the Notes	 	 	2	 
	 
	 	2.1	 	Issuance of Notes	 	 	2	 
	 
	 	2.2	 	Note Conversion	 	 	3	 
	 
	 	2.3	 	Grant of Security	 	 	4	 
	 
	 	2.4	 	Corporate Transaction Repayment	 	 	4	 
	 
	 	2.5	 	No Prepayment	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	3.	 	Warrants	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	4.	 	Closing Mechanics	 	 	5	 
	 
	 	4.1	 	Closing	 	 	5	 
	 
	 	4.2	 	Subsequent Closings	 	 	5	 
	 
	 	 	 	 	 	 	 	 
	5.	 	Representations and Warranties of the Company	 	 	5	 
	 
	 	5.1	 	Organization, Good Standing and Qualification	 	 	5	 
	 
	 	5.2	 	Subsidiaries	 	 	6	 
	 
	 	5.3	 	Capitalization; Voting Rights	 	 	6	 
	 
	 	5.4	 	Authorization; Binding Authority	 	 	7	 
	 
	 	5.5	 	Financial Statements	 	 	8	 
	 
	 	5.6	 	Liabilities	 	 	8	 
	 
	 	5.7	 	Agreements; Action	 	 	8	 
	 
	 	5.8	 	Obligations to Related Parties	 	 	9	 
	 
	 	5.9	 	Intellectual Property	 	 	9	 
	 
	 	5.10	 	Compliance with Other Instruments	 	 	10	 
	 
	 	5.11	 	Indebtedness	 	 	11	 
	 
	 	5.12	 	Litigation	 	 	11	 
	 
	 	5.13	 	Employees	 	 	11	 
	 
	 	5.14	 	Registration Rights and Voting Rights	 	 	12	 
	 
	 	5.15	 	Compliance with Laws; Permits	 	 	12	 
	 
	 	5.16	 	Environmental and Safety Laws	 	 	12	 
	 
	 	5.17	 	Material Changes	 	 	12	 
	 
	 	5.18	 	Offering Valid	 	 	13	 
	 
	 	5.19	 	Title to Properties and Assets; Liens, Etc.	 	 	13	 
	 
	 	5.20	 	Full Disclosure	 	 	14	 
	 
	 	 	 	 	 	 	 	 
	6.	 	Representations and Warranties of the Purchasers	 	 	14	 
	 
	 	6.1	 	Requisite Power and Authority	 	 	14	 
	 
	 	6.2	 	Investment Representations	 	 	14	 
	 
	 	6.3	 	Further Limitations on Disposition	 	 	16	 
	 
	 	6.4	 	Legends	 	 	16	 

i

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	 	 	 	 	 	 	 
	7.	 	State Commissioners of Corporations	 	 	16	 
	 
	 	7.1	 	California Corporate Securities Law	 	 	16	 
	 
	 	 	 	 	 	 	 	 
	8.	 	Defaults and Remedies	 	 	16	 
	 
	 	8.1	 	Events of Default	 	 	16	 
	 
	 	8.2	 	Remedies	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	9.	 	Covenants of the Company	 	 	17	 
	 
	 	9.1	 	Indebtedness	 	 	17	 
	 
	 	9.2	 	Use of Proceeds	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	10.	 	Conditions to Closing	 	 	18	 
	 
	 	10.1	 	Conditions to Purchasers’ Obligations at the Closing	 	 	18	 
	 
	 	10.2	 	Conditions to Obligations of the Company at the Closing	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	11.	 	Miscellaneous	 	 	19	 
	 
	 	11.1	 	Successors and Assigns	 	 	19	 
	 
	 	11.2	 	Governing Law	 	 	19	 
	 
	 	11.3	 	Facsimile; Counterparts	 	 	19	 
	 
	 	11.4	 	Titles and Subtitles	 	 	19	 
	 
	 	11.5	 	Notices	 	 	20	 
	 
	 	11.6	 	Finder’s Fee	 	 	20	 
	 
	 	11.7	 	Expenses	 	 	20	 
	 
	 	11.8	 	Entire Agreement; Amendments and Waivers	 	 	20	 
	 
	 	11.9	 	Effect of Amendment or Waiver	 	 	21	 
	 
	 	11.10	 	Severability	 	 	21	 
	 
	 	11.11	 	Stock Purchase Agreement	 	 	21	 
	 
	 	11.12	 	Exculpation Among Purchasers	 	 	21	 
	 
	 	11.13	 	Acknowledgement	 	 	21	 
	 
	 	11.14	 	Further Assurance	 	 	21	 
	 
	 	11.15	 	Waiver of Jury Trial	 	 	21	 
	 
	 	11.16	 	Dispute Resolution	 	 	22	 

ii

 

NOTE AND WARRANT PURCHASE AGREEMENT

     THIS NOTE AND WARRANT PURCHASE AGREEMENT (“Agreement”) is made as of July 17, 2009, by and
among ANTHERA PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), and the persons and
entities (each individually a “Purchaser,” and collectively the “Purchasers”) named on the Schedule
of Purchasers attached hereto (the “Schedule of Purchasers”). Capitalized terms not otherwise
defined in this Agreement shall have the meanings ascribed to them in Section 1 below.

     THE PARTIES HEREBY AGREE AS FOLLOWS:

     1. Definitions.

          (a) “Common Stock” shall mean the common stock of the Company, par value $0.001 per
share.

          (b) “Consideration” shall mean the amount of money paid by each Purchaser pursuant to
this Agreement as shown on the Schedule of Purchasers.

          (c) “Conversion Shares” shall mean, if the Notes are converted to equity pursuant to
Section 2.2(a) below, the Equity Securities issued in the Next Equity Financing.

          (d) “Conversion Price” shall mean with respect to a conversion pursuant to Section
2.2(a) below, the product of (A) the price paid per share for Equity Securities by the investors in
the Next Equity Financing and (B) seventy-five percent (75%).

          (e) “Corporate Transaction” shall mean (A) the consummation of an Acquisition, as such
is defined in the Company’s Fourth Amended and Restated Certificate of Incorporation of the Company
in the form attached hereto as Exhibit A (as amended from time to time, the “Restated
Certificate”), (B) the closing of an Asset Transfer, as such is defined in the Restated Certificate
or (C) the occurrence of a Liquidation Event, as such is defined in the Restated Certificate.

          (f) “Equity Securities” shall mean the Company’s Common Stock or Preferred Stock or
any securities conferring the right to purchase the Company’s Common Stock or Preferred Stock or
securities convertible into, or exchangeable for (with or without additional consideration), the
Company’s Common Stock or Preferred Stock, except any security granted, issued and/or sold by the
Company to any director, officer, employee or consultant of the Company in such capacity for the
primary purpose of soliciting or retaining their services.

          (g) “Initial Public Offering” or “IPO” shall mean the closing of the issuance
and sale of shares of Equity Securities of the Company in the Company’s first underwritten public
offering pursuant to an effective registration statement under the Securities Act of 1933, as
amended (the “Act”).

          (h) “Maturity Date” shall mean July 17, 2010.

 

 

          (i) “Next Equity Financing” shall mean the next sale (or series of related sales) by
the Company of its Equity Securities following the date of this Agreement from which the Company
receives gross proceeds of not less than Ten Million Dollars ($10,000,000) (excluding the aggregate
amount of debt securities converted into Equity Securities upon conversion of the Notes pursuant to
Section 2.2 below);

          (j) “Notes” shall mean the one or more senior secured convertible promissory notes
issued to each Purchaser pursuant to Section 2.1 below, substantially in the form attached hereto
as Exhibit B.

          (k) “Required Note Holders” shall mean the holders of a majority in interest of the
aggregate principal amount of Notes then outstanding.

          (l) “Securities” shall mean the Notes, the Warrants and the Equity Securities issuable
upon conversion of the Notes and/or exercise of the Warrants (including, with and as part of such
Equity Securities, the shares of Common Stock into which such Equity Securities are convertible).

          (m) “Series B-2 Preferred” shall mean the Series B-2 Preferred Stock of the Company,
par value $0.001 per share.

          (n) “Series B-2 Price” shall mean the Original Issue Price of the Series B-2 Preferred
as such is set forth in the Restated Certificate and as such may be adjusted for any subdivision or
combination of the Company’s capital stock occurring after the Closing Date.

          (o) “Voting Agreement” shall mean that certain Amended and Restated Voting Agreement
by and among the Company and the persons and entities identified therein, dated as of August 12,
2008.

          (p) “Warrants” shall mean one or more warrants issued pursuant to Section 3 below.

          (q) “Warrant Coverage Amount” shall mean, with respect to any particular Warrant
issued to a Purchaser, twenty-five percent (25%) of the principal amount of the Note issued to such
Purchaser in conjunction with such Warrant, provided, however, if, before April 1,
2010, such Note has not converted pursuant to Section 2.2 below, then the Warrant Coverage Amount
shall be fifty percent (50%) of the principal amount of such Note issued to such Purchaser in
conjunction with such Warrant.

          (r) “Warrant Price” shall mean the price paid per share for Equity Securities by the
investors in the Next Equity Financing.

     2. Amount and Terms of the Notes.

          2.1 Issuance of Notes. In return for the Consideration paid by each Purchaser, the Company shall sell and issue to
such Purchaser one or more Notes. Each Note shall have a principal balance equal to that
Consideration paid by such Purchaser for the Note, as set forth in the Schedule of Purchasers.
Each Note shall be convertible pursuant to Section 2.2 below into

2

 

either Conversion Shares or shares of Series B-2 Preferred and shall be secured by the assets
of the Company as described in Section 2.3 below. Interest on the Notes shall accrue as described
in the Notes.

          2.2 Note Conversion.

          (a) Next Equity Financing. The principal and unpaid accrued interest of each Note
shall be automatically converted into Conversion Shares upon the closing of the Next Equity
Financing. The number of Conversion Shares to be issued upon such conversion shall be equal to the
quotient obtained by dividing the outstanding principal and unpaid accrued interest on a Note to be
converted, or portion thereof, on the date of conversion, by the Conversion Price. At least five
(5) days prior to the closing of the Next Equity Financing, the Company shall notify the holder of
each Note in writing of the terms under which the Equity Securities of the Company will be sold in
such financing. The issuance of Conversion Shares pursuant to the conversion of each Note shall be
upon and subject to the same terms and conditions applicable to the Equity Securities sold in the
Next Equity Financing. For the avoidance of doubt, for example, if the Next Equity Financing is
the sale of Equity Securities including both preferred stock and warrants exercisable for Equity
Securities, the Conversion Shares shall include both preferred stock and warrants exercisable for
Equity Securities.

          (b) Conversion at the Election of Purchaser. By providing written notice to the
Company, each Purchaser may elect, in the event that a Corporate Transaction occurs prior to the
Next Equity Financing, that the principal and unpaid accrued interest of each Note held by such
Purchaser shall be converted into shares of the Series B-2 Preferred immediately prior to the
closing of such Corporate Transaction. The number of shares of Series B-2 Preferred to be issued
upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal
and unpaid accrued interest on a Note to be converted, or portion thereof, on the date of
conversion, by the Series B-2 Price.

          (c) No Fractional Shares. Upon the conversion of a Note into Conversion Shares or
shares of Series B-2 Preferred, in lieu of any fractional shares to which the holder of the Note
would otherwise be entitled, the Company shall pay the Note holder cash equal to such fraction
multiplied by the Conversion Price or the Series B-2 Price (whichever is then-applicable) .

          (d) Mechanics of Conversion. The Company shall not be required to issue or deliver
the Conversion Shares or shares of Series B-2 Preferred until the Note holder has surrendered the
Note to the Company. Such conversion may be made contingent upon the closing of the Next Equity
Financing or Corporate Transaction, provided, such conversion shall be deemed to occur
immediately prior to the closing of such Next Equity Financing or Corporate Transaction.

          (e) Reservation of Shares. If, at the time of conversion, there are insufficient
authorized Conversion Shares or shares of Series B-2 Preferred (whichever is then-applicable) to
permit conversion of the Notes in full, the Company shall take all corporate action and shall use
best efforts to cause the board of directors of the Company (the “Board”) and the Company’s
stockholders to recommend and approve such actions as are necessary to authorize a sufficient

3

 

number of shares of Conversion Shares or Series B-2 Preferred to permit such conversion in
full, and each Purchaser agrees to cooperate with the Company and to vote any of its voting
securities of the Company in favor of any action requiring stockholder consent to authorize or
issue such Conversion Shares or shares of Series B-2 Preferred to permit such conversion in full.

          (f) Termination of Conversion Rights. The conversion rights set forth in this Section
2.2 shall be exercisable from and after the date hereof until, and shall terminate and expire to
the extent not previously exercised, on the earliest of (i) the date upon which all Notes are fully
paid and no longer outstanding (ii) the closing date of the Company’s Initial Public Offering or
(iii) upon the consummation by the Company of any Corporate Transaction (each of (ii) and (iii), a
“Terminating Significant Transaction”). The Company shall provide each Purchaser with at least ten
(10) days’ prior written notice of any Terminating Significant Transaction.

          2.3 Grant of Security. As collateral security for the prompt and complete payment and performance when due
(whether at the stated maturity, by acceleration or otherwise) of the obligations evidenced by the
Notes, the Company hereby grants to the Purchasers a first priority security interest in all of the
assets of the Company (the “Collateral”). The Company hereby irrevocably appoints each Purchaser
as attorney-in-fact, with full authority in the place and stead of the Company and in the name of
the Company or otherwise, from time to time in any such Purchaser’s discretion, upon the Company’s
failure or inability to do so, to take any action and to execute any instrument which the Purchaser
may deem necessary or advisable to accomplish the purposes of the security interest granted
hereunder, including to file, in its sole discretion, one or more financing or continuation
statements and amendments thereto, relative to any of the Collateral without the signature of the
Company where permitted by law. Each Purchaser shall pay all costs and expenses that it incurs
with respect to the accomplishment and perfection of the security interest granted hereunder.

          2.4 Corporate Transaction Repayment. In the event that the Company consummates a Corporate Transaction prior to the Next
Equity Financing and any Note has not been converted pursuant to Section 2.2 of this Agreement,
then immediately prior to or simultaneous with the consummation of such Corporate Transaction, the
Company shall pay to the Purchaser holding such Note an amount equal to the sum of (A) the
outstanding interest accrued on such Note and (B) two (2) times the outstanding principal amount of
such Note.

          2.5 No Prepayment. The Company may not prepay any principal amount or interest on the Notes, in whole or
in part.

     3. Warrants. Upon the Closing (as defined in Section 4.1 below), and in return for the Company’s receipt
of each Purchaser’s Consideration, each Purchaser shall receive a warrant to purchase Conversion
Shares or shares of Series B-2 Preferred in the form attached hereto as Exhibit C (the
“Warrant”). Each Warrant shall be exercisable for that number of Conversion Shares determined by
dividing the Warrant Coverage Amount by the Warrant Price, provided, however, if
the Note issued to a Purchaser in conjunction with such Warrant is converted into shares of Series
B-2 Preferred pursuant to Section 2.2(b) hereof, such Warrant shall instead be exercisable for that
number of shares of Series B-2 Preferred determined by dividing the Warrant Coverage Amount by the
Series B-2 Price (thereby becoming a “Series B-2 Warrant”). The

4

 

exercise price for the Conversion Shares purchasable upon exercise of the Warrants shall be
the Warrant Price applicable to such shares, and the exercise price for the shares of Series B-2
Preferred purchasable upon exercise of the Series B-2 Warrants shall be the Series B-2 Price.

     4. Closing Mechanics.

          4.1 Closing. The initial closing (the “Initial Closing”, and also a “Closing”) of the purchase of the
Notes and issuance of the Warrants in return for the Consideration paid by each Purchaser shall
take place at 1:00 pm on the date hereof (the “Closing Date”), at the offices the Company, or at
such other time and place as the Company and Required Note Holders agree upon orally or in writing.
At the Closing, each Purchaser shall deliver the Consideration to the Company and the Company
shall deliver to each Purchaser one or more executed Notes and Warrants in return for the
respective Consideration provided to the Company.

          4.2 Subsequent Closings. In any subsequent closing (each a “Subsequent Closing”, and each also a “Closing”), the
Company may sell additional Notes and Warrants subject to the terms of this Agreement and in
accordance with the amounts allocated in the Schedule of Purchasers at the Subsequent
Closing(s) attached hereto (such amounts, the “Additional Consideration”), to any Purchaser
that participated in the Initial Closing and/or any additional Purchaser approved by the Required
Note Holders. Any subsequent purchasers of Notes and Warrants shall become a party to, and shall
be entitled to receive Notes and Warrants in accordance with this Agreement. Each Subsequent
Closing shall take place, after the Company’s Board of Directors has requested and the Required
Note Holders have approved such Additional Consideration, at such locations and at such times (each
also a “Closing Date”) as shall be mutually agreed upon orally or in writing by the Company and
Purchasers purchasing a majority in interest of the aggregate principal amount of the Notes to be
sold at such Subsequent Closing.

     5. Representations and Warranties of the Company. Except as set forth on a Schedule of Exceptions, the Company hereby represents and warrants
to each Purchaser as of the date of this Agreement as set forth below.

          5.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under
the laws of the State of Delaware. The Company has all requisite corporate power and authority to
own and operate its properties and assets, to execute and deliver this Agreement, the Second
Amended and Restated Investor Rights Agreement substantially in the form attached hereto as
Exhibit D (the “Investor Rights Agreement”) and the Amended and Restated Right of First
Refusal and Co-Sale Agreement substantially in the form attached hereto as Exhibit E (the
“Co-Sale Agreement” and, together with the Investor Rights Agreement, the “Ancillary
Agreements”), to issue and sell the Securities, and to carry out the provisions of the this
Agreement, the Ancillary Agreements and the Restated Certificate and to carry on its business as
presently conducted, provided, however, that the Company has not obtained the
necessary corporate approval for the authorization of the Equity Securities to be sold at the
closing of the Next Equity Financing. The Company is duly qualified to do business and is in good
standing as a foreign corporation in all jurisdictions in which the nature of its activities and of
its properties (both owned and leased) makes such

5

 

qualification necessary, except for those jurisdictions in which failure to do so would not
have a material adverse effect on the Company or its business.

          5.2 Subsidiaries. The Company does not own or control any equity security or other interest of any other
corporation, limited partnership or other business entity. The Company is not a participant in any
joint venture, partnership or similar arrangement. Since its inception, the Company has not
consolidated or merged with, acquired all or substantially all of the assets of, or acquired the
stock of or any interest in any corporation, partnership, association, or other business entity.

          5.3 Capitalization; Voting Rights.

          (a) The authorized capital stock of the Company, immediately prior to the Closing, consists of
(i) thirty million (30,000,000) shares of Common Stock, par value $0.001 per share, two million
seven hundred sixty-seven thousand five hundred thirty-five (2,767,535) of which are issued and
outstanding, (ii) eighteen million eight hundred eighty thousand nine hundred thirty-nine
(18,880,939) shares of Preferred Stock, par value $0.001 per share, of which (A) nine hundred
forty-five thousand nine hundred thirty-nine (945,939) shares have been designated Series A-1
Preferred Stock, par value $0.001 per share, nine hundred forty-five thousand nine hundred
thirty-nine (945,939) of which are issued and outstanding, (B) two million eight hundred thousand
(2,800,000) shares have been designated Series A-2 Preferred Stock, par value $0.001 per share, two
million seven hundred seventy-four thousand five hundred ninety-four (2,774,594) of which are
issued and outstanding, (C) four million seven hundred ten thousand (4,710,000) shares have been
designated Series B-1 Preferred Stock, par value $0.001 per share, four million seven hundred two
thousand six hundred forty (4,702,640) of which are issued and outstanding and (D) ten million four
hundred twenty-five thousand (10,425,000) shares have been designated Series B-2 Preferred Stock,
par value $0.001 per share, five million five hundred twenty-three thousand three hundred
thirty-seven (5,523,337) of which are issued and outstanding. The Series A-1 Preferred Stock,
Series A-2 Preferred Stock, Series B-1 Preferred Stock and the Series B-2 Preferred Stock are
referred to collectively as the “Preferred Stock.” A detailed schedule of the Company’s holders of
Common Stock and Preferred Stock is set forth in Schedule 5.3(a) of the Schedule of Exceptions.

          (b) Under the Company’s 2005 Equity Incentive Plan (the “Plan”), (i) one million four hundred
twenty five thousand thirty five (1,425,035) shares have been issued pursuant to restricted stock
purchase agreements and/or the exercise of outstanding options, (ii) options to purchase two
million two hundred eighty one thousand thirty nine (2,281,039) shares are currently outstanding,
and (iii) fifty one thousand one hundred fifty six (51,156) shares of Common Stock remain available
under the Plan for future issuance to officers, directors, employees and consultants of the
Company. A detailed schedule of the Company’s optionholders holding options issued under the Plan
is set forth in Schedule 5.3(b) of the Schedule of Exceptions.

          (c) Other than the shares reserved for issuance under the Plan and except as may be granted
pursuant to this Agreement and the Ancillary Agreements, there are no outstanding options,
warrants, rights (including conversion or preemptive rights and rights of

6

 

first refusal), proxy or stockholder agreements, or agreements of any kind for the purchase or
acquisition from the Company of any of its securities. A detailed schedule of the Company’s
optionholders (except as described in Schedule 5.3(b)) or warrantholders is set forth in Schedule
5.3(c) of the Schedule of Exceptions.

          (d) All issued and outstanding shares of the Company’s Common Stock (i) have been duly
authorized and validly issued and are fully paid and nonassessable, (ii) were issued in compliance
with all applicable state and federal laws concerning the issuance of securities; and (iii) are
subject to a right of first refusal in favor of the Company upon transfer.

          (e) All options granted and Common Stock issued vest as follows: twenty-five percent (25%) of
the shares vest one (1) year following the vesting commencement date, with the remaining
seventy-five percent (75%) vesting in equal monthly installments over the next three (3) years. No
stock plan, stock purchase, stock option or other agreement or understanding between the Company
and any holder of any equity securities or rights to purchase equity securities provides for
acceleration or other changes in the vesting provisions or other terms of such agreement or
understanding as the result of (i) termination of employment or consulting services (whether actual
or constructive); (ii) any merger, consolidated sale of stock or assets, change in control or any
other transaction(s) by the Company; or (iii) the occurrence of any other event or combination of
events.

          (f) The rights, preferences, privileges and restrictions of the shares of the Preferred Stock
are as stated in the Restated Certificate. Each outstanding share of Preferred Stock is
convertible into the Company’s Common Stock on a one-for-one basis as of the date hereof. A
sufficient number of shares of Series B-2 Preferred has been duly and validly reserved for issuance
pursuant to Section 2.2(b) hereof. The issuance of the shares of Series B-2 Preferred upon
conversion of the Notes or exercise of the Warrants, in either case, into shares of Series B-2
Preferred, will not alter the conversion ratio set forth under the Restated Certificate or cause an
anti-dilution adjustment to any existing series of the Company’s Preferred Stock. When issued in
compliance with Section 2.2(b) of this Agreement and the Restated Certificate, the shares of Series
B-2 Preferred will be validly issued, fully paid and nonassessable, and will be free of any liens
or encumbrances; provided, that the shares of Series B-2 Preferred may be subject to restrictions
on transfer under state and/or federal securities laws as set forth herein or as otherwise required
by such laws at the time a transfer is proposed.

          (g) All outstanding shares of Common Stock and Preferred Stock, and all
shares of Common Stock and Preferred Stock issuable upon the exercise or conversion of outstanding
options, warrants or other exercisable or convertible securities are subject to a market standoff
or “lockup” agreement of not less than 180 days following the Company’s initial public offering.

          5.4 Authorization; Binding Authority. Except for the authorization and issuance of the Equity Securities issuable in connection
with the Next Equity Financing, all corporate action on the part of the Company, its officers,
directors and stockholders necessary for the authorization of this Agreement and Ancillary
Agreements, the performance of all obligations of the Company hereunder and thereunder at the
Closing, and the authorization, sale,
issuance and delivery of the Securities pursuant hereto has been taken. This Agreement, the
Notes, the Warrants and the Ancillary Agreements, when executed and delivered, will be valid and
binding obligations of the Company enforceable in accordance with their terms, except (a) as

7

 

limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general
application affecting enforcement of creditors’ rights, (b) general principles of equity that
restrict the availability of equitable remedies and (c) to the extent that the enforceability of
the indemnification provisions in the Investor Rights Agreement may be limited by applicable laws.
The sale of the Notes and the subsequent conversion of the Notes into Conversion Shares or shares
of Series B-2 Preferred (and the Common Stock into which such securities are convertible), and the
issuance of the Warrants and the subsequent exercise of the Warrants into Conversion Shares or
shares of Series B-2 Preferred (and the Common Stock into which such securities are convertible)
are not subject to any preemptive rights or rights of first refusal that have not been properly
waived or complied with.

          5.5 Financial Statements. The Company has delivered to Purchasers its unaudited income statement, balance sheet and
statement of cash flows for the year ended December 31, 2008 and for the five months ended May 31,
2009 (the “Financial Statements”). The Financial Statements are complete and correct in all
material respects, have been prepared in accordance with generally accepted accounting principles
and present fairly the financial condition and operating results of the Company as of the dates
indicated, subject to normal year-end audit adjustments. Except as disclosed in the Financial
Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person or
entity. The Company maintains and will continue to maintain a standard system of accounting
established and administered in accordance with generally accepted accounting principles.

          5.6 Liabilities. The Company has no material liabilities and, to the best of its knowledge, has no material
contingent liabilities, except current liabilities incurred in the ordinary course of business
which have not been, either in any individual case or in the aggregate, materially adverse.

          5.7 Agreements; Action.

          (a) Except for agreements explicitly contemplated hereby and agreements between the Company
and its employees with respect to the sale of the Company’s Preferred Stock, there are no
agreements, understandings or proposed transactions between the Company and any of its officers,
directors, employees, affiliates or any affiliate thereof.

          (b) There are no agreements, understandings, instruments, contracts, proposed transactions,
judgments, orders, writs or decrees to which the Company is a party or to its knowledge by which it
is bound which may involve (i) future obligations (contingent or otherwise) of, or payments to, the
Company in excess of $50,000, or (ii) the transfer or license of any patent, copyright, trade
secret or other proprietary right to or from the Company (other than licenses by the Company of
“off the shelf” or other standard products), or (iii) provisions restricting the development,
manufacture or distribution of the Company’s products or services, or (iv) indemnification by the
Company with respect to infringements of proprietary rights (other
than indemnification obligations arising from purchase, sale or license agreements entered
into in the ordinary course of business).

          (c) The Company has not (i) declared or paid any dividends, or authorized or made any
distribution upon or with respect to any class or series of its capital stock, (ii) incurred or
guaranteed any indebtedness for money borrowed or any other liabilities (other than with

8

 

respect to
dividend obligations, distributions, indebtedness and other obligations incurred in the ordinary
course of business) individually in excess of $50,000 or, in the case of indebtedness and/or
liabilities individually less than $50,000, in excess of $250,000 in the aggregate, (iii) made any
loans or advances to any person, other than ordinary advances for travel expenses, or (iv) sold,
exchanged or otherwise disposed of any of its assets or rights, other than the sale of its
inventory in the ordinary course of business.

          (d) For the purposes of subsections (b) and (c) above, all indebtedness, liabilities,
agreements, understandings, instruments, contracts and proposed transactions involving the same
person or entity (including persons or entities the Company has reason to believe are affiliated
therewith) shall be aggregated for the purpose of meeting the individual minimum dollar amounts of
such subsections.

          (e) Other than as disclosed in Section 5.7(e) of the Schedule of Exceptions, the Company has
not engaged in the past three (3) months in any discussion (i) with any representative of any other
business or businesses regarding the consolidation or merger of the Company with or into any such
other business or businesses, (ii) with any corporation, partnership, limited liability company, or
other business entity or any individual regarding the sale, conveyance or disposition of all or
substantially all of the assets of the Company, or a transaction or series of related transactions
in which more than fifty percent (50%) of the voting power of the Company is disposed of, or (iii)
regarding any other form of acquisition, liquidation, dissolution or winding up, of the Company.

          5.8 Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, or employees of
the Company other than (a) for payment of salary for services rendered, (b) reimbursement for
reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits
made generally available to all employees (including stock option agreements outstanding under any
stock option plan approved by the Board). No officer, director or stockholder, or any member of
their immediate families, is, directly or indirectly, interested in any material contract with the
Company (other than such contracts as relate to any such person’s ownership of capital stock or
other securities of the Company).

          5.9 Intellectual Property.

          (a) The Company owns or possesses sufficient legal rights to all patents, trademarks, service
marks, trade names, copyrights, trade secrets, licenses, information and other proprietary rights
and processes necessary for its business as now conducted and as presently proposed to be
conducted, without any known infringement of the rights of others. There are no
outstanding options, licenses or agreements of any kind relating to the foregoing proprietary
rights, nor is the Company bound by or a party to any options, licenses or agreements of any kind
with respect to the patents, trademarks, service marks, trade names, copyrights, trade secrets,
licenses, information and other proprietary rights and processes of any other person or entity
other than such licenses or agreements arising from the purchase of “off the shelf” or standard
products.

9

 

          (b) The Company has not received any communications alleging that the Company has violated or,
by conducting its business as presently proposed, would violate any of the patents, trademarks,
service marks, trade names, copyrights or trade secrets or other proprietary rights of any other
person or entity.

          (c) The Company is not aware that any of its employees is obligated under any contract
(including licenses, covenants or commitments of any nature) or other agreement, or subject to any
judgment, decree or order of any court or administrative agency, that would interfere with their
duties to the Company or that would conflict with the Company’s business as proposed to be
conducted. Each employee, officer and consultant of the Company has executed a proprietary
information and inventions agreement in substantially the form previously provided to Purchasers.
No employee, officer or consultant of the Company has excluded works or inventions made prior to
his or her employment with the Company from his or her assignment of inventions pursuant to such
employee, officer or consultant’s proprietary information and inventions agreement. The Company
does not believe it is or will be necessary to utilize any inventions, trade secrets or proprietary
information of any of its employees made prior to their employment with the Company, except for
inventions, trade secrets or proprietary information that have been assigned to the Company and
which are disclosed in the Schedule of Exceptions.

          (d) The Company is not aware of any prior art that would invalidate any of the issued patent
claims. The Company is also not aware of any prior art that would invalidate claims in the pending
patent applications directed to 1) the pharmaceutical composition comprising one or more statins
and one or more sPLA2 inhibitors; or 2) methods of treating dyslipidemia, methods of decreasing
cholesterol levels, LDL levels, or triglyceride levels using one or more sPLA2 inhibitors.
Further, the Company is not aware of any prior art by a party other than Eli Lilly and Company
(“Lilly”), Shionogi & Co. Ltd. (“Shionogi”), or the Company that would invalidate any of the
pending patent application claims directed to the treatment of cardiovascular diseases or a
condition associated with cardiovascular disease using one or more sPLA2 inhibitors. The patents
and patent applications referred to in the prior three sentences include those currently licensed
or owned by the Company.

          5.10 Compliance with Other Instruments. The Company is not in violation or default of any term of its charter documents, each as
amended, or of any provision of any mortgage, indenture, contract, agreement, instrument or
contract to which it is party or by which it is bound or of any judgment, decree, order or writ
other than any such violation that would not have a material adverse effect on the Company. The
execution, delivery, and performance of and compliance with this Agreement, the Notes, the Warrants
and the Ancillary Agreements, and the issuance and sale of the Securities, will not, with or
without the passage of time or giving of notice, result in any such material violation, or be in
conflict with or constitute a material default
under any such term, or result in the creation of any mortgage, pledge, lien, encumbrance or
charge upon any of the properties or assets of the Company or the suspension, revocation,
impairment, forfeiture or nonrenewal of any permit, license, authorization or approval applicable
to the Company, its business or operations or any of its assets or properties. To its knowledge,
the Company has avoided every condition and has not performed any act, the occurrence of which
would result in the Company’s loss of any material right granted under any license, distribution
agreement or other agreement required to be disclosed on the Schedule of Exceptions.

10

 

          5.11 Indebtedness. Neither the Company nor its subsidiaries has any outstanding Indebtedness. “Indebtedness”
means, without duplication all (a) indebtedness for borrowed money, (b) notes payable, whether or
not representing obligations for borrowed money, (c) obligations representing the deferred purchase
price for property or services, (d) obligations secured by any mortgage or lien on property owned
or acquired subject to such mortgage or lien, whether or not the liability secured thereby shall
have been assumed, (e) all guaranties, endorsements and other contingent obligations, in respect of
Indebtedness of others, whether or not the same are or should be so reflected in the Company’s
balance sheet, except guaranties by endorsement of negotiable instruments for deposit or collection
or similar transactions in the ordinary course of business and (f) that portion of any lease
payments due under leases required to be capitalized in accordance with generally accepted
accounting principles consistently applied, provided however, that Indebtedness shall not include
trade payables and trade debt.

          5.12 Litigation. There is no action, suit, proceeding or investigation pending or, to the Company’s
knowledge, currently threatened in writing against the Company that questions the validity of this
Agreement, the Notes, the Warrants and the Ancillary Agreements, or the right of the Company to
enter into any of such agreements, or to consummate the transactions contemplated hereby or
thereby, or which would reasonably be expected to result, either individually or in the aggregate,
in any material adverse change in the assets, condition, affairs or prospects of the Company,
financially or otherwise, or any change in the current equity ownership of the Company, nor is the
Company aware that there is any basis for any of the foregoing (a “Material Adverse Change”). The
foregoing includes, without limitation, actions pending or, to the Company’s knowledge, threatened
in writing involving the prior employment of any of the Company’s employees, their use in
connection with the Company’s business of any information or techniques allegedly proprietary to
any of their former employers, or their obligations under any agreements with prior employers. The
Company is not a party or to its knowledge subject to the provisions of any order, writ,
injunction, judgment or decree of any court or government agency or instrumentality. There is no
action, suit, proceeding or investigation by the Company currently pending or which the Company
intends to initiate.

          5.13 Employees. The Company has no collective bargaining agreements with any of its employees. There is no
labor union organizing activity pending or, to the Company’s knowledge, threatened with respect to
the Company. The Company is not a party to or bound by any currently effective employment
contract, deferred compensation arrangement, bonus plan, incentive plan, profit sharing plan,
retirement agreement or other employee compensation plan or agreement, nor has the Company ever
maintained or contributed to any employee benefit plan
subject to the Employee Retirement Income Security Act of 1974 (“ERISA”). The Company has
never contributed to any “multi-employer plan” as such term is defined in ERISA. To the Company’s
knowledge, no employee of the Company, nor any consultant with whom the Company has contracted, is
in violation of any term of any employment contract, proprietary information agreement or any other
agreement relating to the right of any such individual to be employed by, or to contract with, the
Company; and to the Company’s knowledge the continued employment by the Company of its present
employees, and the performance of the Company’s contracts with its independent contractors, will
not result in any such violation. The Company

11

 

has not received any notice alleging that any such
violation has occurred. No employee of the Company has been granted the right to continued
employment by the Company or to any material compensation following termination of employment with
the Company. The Company is not aware that any officer, key employee or group of employees intends
to terminate his, her or their employment with the Company, nor does the Company have a present
intention to terminate the employment of any officer, key employee or group of employees. There
are no actions pending, or to the Company’s knowledge, threatened, by any former or current
employee concerning such person’s employment by the Company.

          5.14 Registration Rights and Voting Rights. Except as required pursuant to the Investor Rights Agreement, the Company is presently not
under any obligation, and has not granted any rights, to register (as defined in Section 1.1 of the
Investor Rights Agreement) any of the Company’s presently outstanding securities or any of its
securities that may hereafter be issued. To the Company’s knowledge, except as contemplated in the
Voting Agreement and the Co-Sale Agreement, no stockholder of the Company has entered into any
agreement with respect to the voting of equity securities of the Company.

          5.15 Compliance with Laws; Permits. To its knowledge, the Company is not in violation of any applicable statute, rule,
regulation, order or restriction of any domestic or foreign government or any instrumentality or
agency thereof in respect of the conduct of its business or the ownership of its properties which
violation would cause a Material Adverse Change. No United States domestic governmental orders,
permissions, consents, approvals or authorizations are required to be obtained and no registrations
or declarations are required to be filed in connection with the execution and delivery of this
Agreement or the issuance of the Securities, except such as have been duly and validly obtained or
filed, or with respect to any filings that must be made after the Closing, as will be filed in a
timely manner. The Company has all franchises, permits, licenses and any similar authority
necessary for the conduct of its business as now being conducted by it, the lack of which would
cause a Material Adverse Change and the Company believes it can obtain, without undue burden or
expense, any similar authority for the conduct of its business as planned to be conducted.

          5.16 Environmental and Safety Laws. To its knowledge, the Company is not in violation of any applicable statute, law or
regulation relating to the environment or occupational health and safety, and to its knowledge, no
material expenditures are or will be required in order to comply with any such existing statute,
law or regulation. No Hazardous Materials (as defined below) are used or have been used, stored,
or disposed of by the Company or, to the Company’s knowledge, by any other person or entity on any
property owned, leased or used by the Company. For the purposes of the preceding sentence,
“Hazardous Materials” shall mean (a) materials which are listed or otherwise defined as “hazardous” or “toxic” under any applicable
local, state, federal and/or foreign laws and regulations that govern the existence and/or remedy
of contamination on property, the protection of the environment from contamination, the control of
hazardous wastes, or other activities involving hazardous substances, including building materials,
or (b) any petroleum products or nuclear materials.

          5.17 Material Changes Since May 30, 2009, there has not been:

12

 

          (a) any change in the assets, liabilities, financial condition, or operating results of the
Company from that reflected in the Financial Statements, except changes in the ordinary course of
business that have not been and are not expected to be, individually or in the aggregate,
materially adverse;

          (b) any damage, destruction, or loss, whether or not covered by insurance, that would cause a
Material Adverse Change;

          (c) any waiver or compromise by the Company of a valuable right or of a material debt owed to
it;

          (d) any satisfaction or discharge of any lien, claim, or encumbrance or payment of any
obligation by the Company, except in the ordinary course of business and that would not cause a
Material Adverse Change;

          (e) any material change or amendment to a material contract or arrangement by which the
Company or any of its assets or properties is bound or subject;

          (f) any material change in any compensation arrangement or agreement with any employee,
officer, director, or stockholder;

          (g) any sale, assignment, or transfer of any proprietary assets;

          (h) any resignation or termination of employment of any officer, key employee, or key
consultant, or any group of key employees or consultants, of the Company;

          (i) any mortgage, pledge, transfer of a security interest in, or lien created by the Company,
with respect to any of its material properties or assets, except liens for taxes not yet due or
payable;

          (j) any material change in the contingent obligations of the Company by way of guaranty,
endorsement, indemnity, warranty, or otherwise;

          (k) any declaration, setting aside of payment, or other distribution in respect of any of the
Company’s capital stock, or any direct or indirect redemption, purchase, or other acquisition of
any of such stock by the Company; or

          (l) any agreement or commitment by the Company to do any of the things described in this
Section 5.17.

          5.18 Offering Valid. Assuming the accuracy of the representations and warranties of Purchasers contained in
Section 6.2 hereof, the offer, sale and issuance of the Securities will be exempt from the
registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), and
will have been registered or qualified (or are exempt from registration and qualification) under
the registration, permit or qualification requirements of all applicable state securities laws.
Neither the Company nor any agent on its behalf has solicited or will solicit any offers to sell or
has offered to sell or will offer to sell all or any part of the Securities to any person or
persons so as to bring the sale of such Securities by the Company within the registration
provisions of the Securities Act or any state securities laws.

          5.19 Title to Properties and Assets; Liens, Etc.. The Company has good and marketable title to its properties and assets, including the
properties and assets reflected in the most recent balance sheet included in the Financial
Statements, and good title to its leasehold estates, in each case subject to no mortgage, pledge,
lien, lease, encumbrance or charge, other

13

 

than (a) those resulting from taxes which have not yet
become delinquent, (b) minor liens and encumbrances which do not materially detract from the value
of the property subject thereto or materially impair the operations of the Company, and (c) those
that have otherwise arisen in the ordinary course of business.

          5.20 Full Disclosure. The Company has provided Purchasers with all information requested by Purchasers in
connection with their decision to purchase the Notes and Warrants. Neither this Agreement, the
exhibits hereto, the Ancillary Agreements nor any other document delivered by the Company to
Purchasers or their attorneys or agents in connection herewith or therewith at the Closing or with
the transactions contemplated hereby or thereby, contain any untrue statement of a material fact
nor, to the Company’s knowledge, omit to state a material fact necessary in order to make the
statements contained herein or therein not misleading.

     6. Representations and Warranties of the Purchasers. Each Purchaser hereby represents and warrants to the Company, severally and not jointly, as
follows (provided that such representations and warranties do not lessen or obviate the
representations and warranties of the Company set forth in this Agreement):

          6.1 Requisite Power and Authority. Purchaser has all necessary power and authority to execute and deliver this Agreement and
the Ancillary Agreements and to carry out their provisions. All action on Purchaser’s part
required for the lawful execution and delivery of this Agreement and the Ancillary Agreements has
been taken. Upon their execution and delivery, this Agreement and the Ancillary Agreements will be
valid and binding obligations of Purchaser, enforceable in accordance with their terms, except (a)
as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of
general application affecting enforcement of creditors’ rights, (b) as limited by general
principles of equity that restrict the availability of equitable remedies, and (c) to the extent
that the enforceability of the indemnification provisions of the Investor Rights Agreement may be
limited by applicable laws.

          6.2 Investment Representations.

          (a) Purchaser Bears Economic Risk. Purchaser has substantial experience in evaluating
and investing in securities of companies similar to the Company so that it is capable of evaluating
the merits and risks of its investment in the Company and has the capacity to protect its own
interests. Purchaser must bear the economic risk of this investment indefinitely unless the
Securities are registered pursuant to the Securities Act, or an exemption from registration is
available. Purchaser understands that the Company has no present intention of registering the
Securities or any shares of its Common Stock. Purchaser also understands that there is no
assurance that any exemption from registration under the Securities Act will be available and that,
even if available, such exemption may not allow Purchaser to transfer all or any portion of the
Securities under the circumstances, in the amounts or at the times Purchaser might propose.

          (b) Acquisition for Own Account. Purchaser is acquiring the Securities for
Purchaser’s own account for investment only, and not with a view towards their distribution. If

14

 

other than an individual, each Purchaser also represents it has not been organized solely for the
purpose of acquiring the Securities.

          (c) Purchaser Can Protect Its Interest. Purchaser represents that by reason of its,
or of its management’s, business or financial experience, Purchaser has the capacity to protect its
own interests in connection with the transactions contemplated in this Agreement and the Ancillary
Agreements. Further, Purchaser is aware of no publication of any advertisement in connection with
the transactions contemplated in the Agreement.

          (d) Accredited Investor. Each Purchaser is an “accredited investor” within the
meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the “SEC”), as
presently in effect.

          (e) Company Information. Purchaser has had an opportunity to discuss the Company’s
business, management and financial affairs with directors, officers and management of the Company
and has had the opportunity to review the Company’s operations and facilities. Purchaser has also
had the opportunity to ask questions of and receive answers from, the Company and its management
regarding the terms and conditions of this investment.

          (f) Rule 144. Purchaser acknowledges and agrees that the Securities are “restricted
securities” as defined in Rule 144 promulgated under the Securities Act as in effect from time to
time and must be held indefinitely unless they are subsequently registered under the Securities Act
or an exemption from such registration is available. Purchaser has been advised or is aware of the
provisions of Rule 144, which permits limited resale of securities purchased in a private placement
subject to the satisfaction of certain conditions, including, among other things: the availability
of certain current public information about the Company, the resale occurring following the
required holding period under Rule 144 and the number of securities being sold during any
three-month period not exceeding specified limitations.

          (g) Residence. If Purchaser is an individual, then Purchaser resides in the
state or province identified in the address of Purchaser set forth on the Schedule of Purchasers,
as applicable; if Purchaser is a partnership, corporation, limited liability company or other
entity, then the office or offices of Purchaser in which its investment decision was made is
located at the address or addresses of Purchaser set forth on the Schedule of Purchasers, as
applicable.

          (h) Foreign Purchasers. If Purchaser is not a United States person (as defined
by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), Purchaser hereby
represents that it has satisfied itself as to the full observance of the laws of its jurisdiction
in connection with any invitation to subscribe for the Securities or any use of this Agreement,
including (i) the legal requirements within its jurisdiction for the purchase of the Securities,
(ii) any foreign exchange restrictions applicable to such purchase, (iii) any government or other
consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any,
that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The
Company’s offer and sale and Purchaser’s subscription and payment for and continued beneficial
ownership of the Securities will not violate any applicable securities or other laws of Purchaser’s
jurisdiction.

15

 

          6.3 Further Limitations on Disposition. Without in any way limiting the representations and warranties set forth above, each
Purchaser further agrees not to make any disposition of all or any portion of the Securities unless
and until the transferee has agreed in writing for the benefit of the Company to be bound by and to
deliver the representations contained in this Section 6 and all restrictions on transfer as set
forth in the Investor Rights Agreement.

          6.4 Legends. It is understood that the Securities may bear the following legend:

“THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR
OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO
RULE 144 UNDER SUCH ACT.”

     7. State Commissioners of Corporations.

          7.1 California Corporate Securities Law. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED
WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH
SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO
SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY
SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO
THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

     8. Defaults and Remedies.

          8.1 Events of Default. The following events shall be considered Events of Default with respect to each Note:

          (a) The Company shall default in the payment of any part of the principal or unpaid accrued
interest on the Note after the Maturity Date or at a date fixed by acceleration or otherwise;

          (b) The Company shall make an assignment for the benefit of creditors or shall file a
voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any
reorganization, arrangement, composition, readjustment, dissolution or similar relief under any
present or future statute, law or regulation, or shall file any answer admitting the material
allegations of a petition filed against the Company in any such proceeding, or shall seek or

16

 

consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company,
or of all or any substantial part of the properties of the Company, or the Company or its
respective directors or majority stockholders shall take any action looking to the dissolution or
liquidation of the Company;

          (c) Within thirty (30) days after the commencement of any proceeding against the Company
seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any present or future statute, law or regulation, such
proceeding shall not have been dismissed, or within thirty (30) days after the appointment without
the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or
of all or any substantial part of the properties of the Company, such appointment shall not have
been vacated;

          (d) The Company shall fail to observe or perform any other obligation to be observed or
performed by it under this Agreement, the Notes or the Warrants within ten (10) days after written
notice from the Required Note Holders to perform or observe the obligation; or

          (e) Any representation or warranty under Section 5 of this Agreement shall be false,
incorrect, incomplete or misleading in any material respect when made.

          8.2 Remedies. Upon the occurrence of an Event of Default under Section 8.1 hereof, at the option and upon
the declaration of the Required Note Holders and upon written notice to the Company (which election
and notice shall not be required in the case of an Event of Default under Section 8.1(b) or 8.1(c)
hereof), the entire unpaid principal and accrued and unpaid interest on each Note shall be
forthwith due and payable, and the holder of each such Note may, immediately and without expiration
of any period of grace, enforce payment of all amounts due and owing under such Note and exercise
any and all other remedies granted to it at law, in equity or otherwise.

     9. Covenants of the Company.

          9.1 Indebtedness. Except to the extent the provisions of this Section are waived in any instance by the
Required Note Holders, the Company covenants and agrees that so long as any Note is outstanding, it
shall not: create, incur, assume or suffer to exist any liability with respect to Indebtedness
except for: (i) the Notes, including any additional Notes which may be issued from time to time
pursuant to this Agreement of up to the applicable amount of Additional Consideration, and (ii)
current liabilities and trade payables, other than for borrowed money, which are incurred in the
ordinary course of business.

          9.2 Use of Proceeds. Proceeds raised through the sale of the Notes shall be used for general working capital
needs consistent with financial budgets approved from time to time by the Company’s Board of
Directors, including the majority of the directors elected by the holders of the Series A-1
Preferred Stock, Series A-2 Preferred Stock, Series B-1 Preferred Stock and the Series B-2
Preferred Stock.

17

 

     10. Conditions to Closing.

          10.1 Conditions to Purchasers’ Obligations at the Closing. Purchasers’ obligations to purchase the Notes and Warrants at each Closing are subject to
the satisfaction, at or prior to such Closing, of the following conditions:

          (a) Representations and Warranties True; Performance of Obligations. The
representations and warranties made by the Company in Section 5 hereof shall be true and correct as
of each Closing Date with the same force and effect as if they had been made as of each such
Closing Date, and the Company shall have performed all obligations and conditions herein required
to be performed or observed by it on or prior to each Closing.

          (b) Consents, Permits, and Waivers. The Company shall have obtained any and all
consents, permits and waivers necessary or appropriate for consummation of the transactions
contemplated by the Agreement and the Ancillary Agreements (except for such as may be properly
obtained subsequent to the Closing).

          (c) Filing of Restated Certificate. The Restated Certificate shall have been filed
with the Secretary of State of the State of Delaware and shall continue to be in full force and
effect as of the Closing Date.

          (d) Corporate Documents. The Company shall have delivered to Purchasers or their
counsel, copies of all corporate documents of the Company as Purchasers shall reasonably request.

          (e) Reservation of Shares of Series B-2 Preferred. The shares of Series B-2 Preferred
issuable pursuant to Section 2.2(b) hereof shall have been duly authorized and reserved for
issuance upon such election.

          (f) Compliance Certificate. The Company shall have delivered to Purchasers a
Compliance Certificate, executed by the President of the Company, dated the Closing Date, to the
effect that the conditions specified in subsections (a) and (b) of this Section 10.1 have been
satisfied.

          (g) Ancillary Agreements. The Ancillary Agreements substantially in the forms attached
hereto shall have been executed and delivered by the parties thereto.

          (h) Secretary’s Certificate. Purchasers shall have received from the Company’s
Secretary, a certificate having attached thereto (i) the Company’s Restated Certificate as in
effect at the time of the Closing, (ii) the Company’s Bylaws as in effect at the time of the
Closing, (iii) resolutions approved by the Board authorizing the transactions contemplated hereby,
(iv) resolutions approved by the Company’s stockholders authorizing the filing of the Restated
Certificate and (v) good standing certificates (including tax good standing) with respect to the
Company from the applicable authority(ies) in Delaware and any other jurisdiction in which the
Company is qualified to do business, dated a recent date before the Closing.

          (i) Proceedings and Documents. All corporate and other proceedings in connection with
the transactions contemplated at the Closing hereby and all documents and

18

 

instruments incident to
such transactions shall be reasonably satisfactory in substance and form to Purchasers and their
special counsel, and Purchasers and their special counsel shall have received all such counterpart
originals or certified or other copies of such documents as they may reasonably request.

          10.2 Conditions to Obligations of the Company at the Closing. The Company’s obligation to issue and sell the Notes and Warrants at the Closing is subject to
the satisfaction or waiver, on or prior to such Closing, of the following conditions.

          (a) Representations and Warranties True; Performance of Obligations. The
representations and warranties made by those Purchasers acquiring Notes and Warrants hereby in
Section 6 hereof shall be true and correct as of the Closing Date with the same force and effect as
if they had been made as of the Closing Date, and the Purchasers shall have performed all
obligations and conditions herein required to be performed or observed by them on or prior to the
Closing.

          (b) Filing of Restated Certificate. The Restated Certificate shall have been filed
with the Secretary of State of the State of Delaware.

          (c) Ancillary Agreements. The Ancillary Agreements substantially in the forms attached
hereto shall have been executed and delivered by the parties thereto.

     11. Miscellaneous.

          11.1
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure
to the benefit of and be binding upon the respective successors and assigns of the parties,
provided, however, that the Company may not assign its
obligations under this Agreement without the written consent of the Required Note Holders.
Nothing in this Agreement, express or implied, is intended to confer upon any party other than the
parties hereto or their respective successors and assigns any rights, remedies, obligations or
liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

          11.2 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California
in all respects as such laws are applied to agreements among California residents entered into and
performed entirely within California, without giving effect to conflict of law principles thereof.
The parties agree that any action brought by either party under or in relation to this Agreement,
including without limitation to interpret or enforce any provision of this Agreement, shall be
brought in, and each party agrees to and does hereby submit to the jurisdiction and venue of, any
state or federal court located in the County of Alameda, California.

          11.3 Facsimile; Counterparts. This Agreement may be executed by facsimile and in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same
instrument.

          11.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not
to be considered in construing or interpreting this Agreement.

19

 

          11.5 Notices. All notices required or permitted hereunder shall be in writing and shall be deemed
effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by
confirmed electronic mail, telex or facsimile if sent during normal business hours of the
recipient, if not, then on the next business day, (c) five (5) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after
deposit with a nationally recognized overnight courier, specifying next day delivery, with written
verification of receipt. All communications shall be sent to the Company at the address as set
forth on the signature page hereof and to Purchaser at the address set forth on the Schedule of
Purchasers attached hereto or at such other address or electronic mail address as the Company or
Purchaser may designate by ten (10) days advance written notice to the other parties hereto. If
notice is given to the Company, a copy shall also be sent to Bradley A. Bugdanowitz, Goodwin
Procter, LLP, Three Embarcadero Center, 24th Floor, San Francisco, CA 94111 (which copy shall not
constitute notice to the Company).

          11.6 Finder’s Fee. Each party represents that it neither is nor will be obligated for any finder’s fee or
commission in connection with this transaction. Purchaser agrees to indemnify and to hold harmless
the Company from any liability for any commission or compensation in the nature of a finder’s fee
(and the costs and expenses of defending against such liability or asserted liability) for which
Purchaser or any of its officers, partners, employees or representatives is responsible. The
Company agrees to indemnify and hold harmless Purchaser from any liability for any commission or
compensation in the nature of a finder’s fee (and the costs and expenses of defending against such
liability or asserted liability) for which the Company or any of its officers, employees or
representatives is responsible.

          11.7 Expenses. Each party shall pay all costs and expenses that it incurs with respect to the negotiation,
execution, delivery and performance of the Agreement, provided that the Company shall pay the
Purchasers’ reasonable and actual out-of-pocket legal, accounting and due diligence fees and
expenses incurred in connection with the transactions contemplated by this Agreement up to a
maximum of $50,000.

          11.8 Entire Agreement; Amendments and Waivers. This Agreement, the Notes and the Warrants and the other documents delivered pursuant
hereto constitute the full and entire understanding and agreement between the parties with regard
to the subjects hereof and thereof. The Company’s agreements with each of the Purchasers are
separate agreements, and the sales of the Notes and Warrants to each of the Purchasers are separate
sales. Nonetheless, any term of this Agreement (other than Section 2.5 of this Agreement), the
Notes or the Warrants may be amended and the observance of any term of this Agreement (other than
Section 2.5 of this Agreement), the Notes or the Warrants may be waived (either generally or in a
particular instance and either retroactively or prospectively), only with the written consent of
the Company and the Required Note Holders, provided, however, that any amendment of
any term of this Agreement, the Notes or the Warrants that increases Purchaser’s obligations or
that disproportionately affects such Purchaser or disadvantages such Purchaser in a way that such
amendment does not disadvantage all other Purchasers, shall require the written consent of that
Purchaser. Any waiver or amendment effected in accordance with this Section shall be binding upon
each party to this Agreement and any holder of any Note or Warrant purchased under this Agreement
at the time outstanding and each future holder of all such Notes or Warrants.

20

 

          11.9 Effect of Amendment or Waiver. Each Purchaser acknowledges that by the operation of Section 11.8 hereof, the Required Note
Holders will have the right and power to diminish or eliminate all rights of such Purchaser under
this Agreement and each Note and Warrant issued to such Purchaser (including, without limitation,
such Purchaser’s right to receive principal and interest as due under each Note).

          11.10 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable
law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be
interpreted as if such provision were so excluded and shall be enforceable in accordance with its
terms.

          11.11 Stock Purchase Agreement. Each Purchaser understands and agrees that the conversion of the Notes into and exercise of
the Warrants for Conversion Shares or for shares of Series B-2 Preferred issuable pursuant to
Section 2.2(b) hereof may require such Purchaser’s execution of certain agreements (in form
reasonably agreeable to the Purchaser) relating to the purchase and sale of such securities as well
as registration, co-sale, rights of first refusal, rights of first offer and voting rights, if any,
relating to such securities.

          11.12 Exculpation Among Purchasers. Each Purchaser acknowledges that it is not relying upon any person, firm, corporation or
stockholder, other than the Company and its officers and directors in their capacities as such, in
making its investment or decision to invest in the Company. Each Purchaser agrees that no other
Purchaser nor the respective controlling persons, officers, directors, partners, agents,
stockholders or employees of any other Purchaser shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of
them in connection with the purchase and sale of the Securities.

          11.13 Acknowledgement. In order to avoid doubt, it is acknowledged that each Purchaser shall be entitled to the
benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon
conversion of the Preferred Stock of the Company or as a result of any splits, recapitalizations,
combinations or other similar transaction affecting the Common Stock or Preferred Stock underlying
the Conversion Shares or the shares of Series B-2 Preferred issuable pursuant to Section 2.2(b)
hereof that occur prior to the conversion of the Notes or exercise of the Warrants.

          11.14 Further Assurance. From time to time, the Company shall execute and deliver to the Purchasers such additional
documents and shall provide such additional information to the Purchasers as any Purchaser may
reasonably require to carry out the terms of this Agreement and the Notes and any agreements
executed in connection herewith or therewith, or to be informed of the financial and business
conditions and prospects of the Company.

          11.15 Waiver of Jury Trial. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT
TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH
RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE
DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO,
IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER

21

 

ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN
CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY
AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT
A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT
WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS
RIGHT TO TRIAL BY JURY.

          11.16 Dispute Resolution. Any dispute arising out of or in connection with the transactions contemplated by this Agreement
will be resolved solely by confidential binding arbitration in San Francisco, California according
to the then current commercial arbitration rules of JAMS. Each party shall bear its own attorneys’
fees, expert witness fees, and costs connected to such arbitration.

[Remainder of Page Intentionally Left Blank]

22

 

     IN WITNESS WHEREOF, the parties hereto have executed this Note and Warrant Purchase Agreement
as of the date set forth in the first paragraph hereof.

COMPANY:

ANTHERA PHARMACEUTICALS, INC.

	 	 	 
	By:

	 	/s/ Paul F. Truex
	 

	 	 
	 

	 	Paul F. Truex
	 

	 	President and Chief Executive Officer

			
	Address:	 	25801 Industrial Blvd.

Suite B

Hayward, CA 94545

INVESTOR:

VANTAGEPOINT VENTURE PARTNERS

     IV (Q), L.P.

VANTAGEPOINT VENTURE PARTNERS

     IV, L.P.

VANTAGEPOINT VENTURE PARTNERS

     IV PRINCIPALS FUND, L.P.

	 	 	 
	By:

	 	VantagePoint Venture Associates IV,
	 

	 	L.L.C., its General Partner
	 
	 	 
	By:

	 	/s/ Alan E. Salzman
	 

	 	 

Name: Alan E. Salzman

Title: Managing Member

INVESTOR:

SOFINNOVA VENTURE PARTNERS VI,

L.P.,

as nominee for

SOFINNOVA VENTURE PARTNERS VI,

L.P.

SOFINNOVA VENTURE PARTNERS VI

GMBH CO. K.G.

SOFINNOVA VENTURE AFFILIATES VI,

L.P.

By: Sofinnova Management VI, LLC

its General Partner

	 	 	 
	By:

	 	/s/ James Healy
	 

	 	 
	Name: James Healy
	Title: Managing Member

SIGNATURE PAGE TO

NOTE AND WARRANT PURCHASE AGREEMENT OF

ANTHERA PHARMACEUTICALS, INC.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Note and Warrant Purchase Agreement
as of the date set forth in the first paragraph hereof.

	 	 	 	 	 
	 	 	INVESTOR:
	 
	 	 	 	 
	 	 	A. M. PAPPAS LIFE SCIENCE

VENTURES III, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Ford S. Worthy
	 

	 	 	 	 
	 

	 	Name:
	 	Ford S. Worthy
	 

	 	 	 	 
	 

	 	Title:
	 	Partner & CFO
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	INVESTOR:
	 
	 	 	 	 
	 	 	PV III CEO FUND, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Ford S. Worthy
	 

	 	 	 	 
	 

	 	Name:
	 	Ford S. Worthy
	 

	 	 	 	 
	 

	 	Title:
	 	Partner & CFO
	 

	 	 	 	 

SIGNATURE PAGE TO

NOTE AND WARRANT PURCHASE AGREEMENT OF

ANTHERA PHARMACEUTICALS, INC.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Note and Warrant Purchase Agreement
as of the date set forth in the first paragraph hereof.

	 	 	 	 	 
	 	 	INVESTOR:
	 
	 	 	 	 
	 	 	CAXTON ADVANTAGE LIFE SCIENCES

FUND, L.P.
	 
	 	 	 	 
	 	 	By: Caxton Advantage Venture Partners, L.P.,

Its General Partner
	 
	 	 	 	 
	 	 	By: Advantage Life Science Partners, LLC,

its Managing Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Rachel Leheny
	 

	 	 	 	 
	 	 	Name: Rachel Leheny
	 	 	Title: Member
	 
	 	 	 	 
	 	 	INVESTOR:
	 
	 	 	 	 
	 	 	HBM BIOCAPITAL
	 
	 	 	 	 
	 	 	HBM BioCapital (EUR) L.P.
	 	 	By: HBM BioCapital Ltd.
	 	 	Its: General Partner
	 
	 	 	 	 
	 	 	/s/
John Arnold
	 	 	By: John Arnold
	 	 	Its: Chairman & Managing Director
	 
	 	 	 	 
	 	 	HBM BioCapital (USD) L.P.
	 	 	By: HBM BioCapital Ltd.
	 	 	Its: General Partner
	 
	 	 	 	 
	 	 	/s/
John Arnold
	 	 	By: John Arnold
	 	 	Its: Chairman & Managing Director

SIGNATURE PAGE TO

NOTE AND WARRANT PURCHASE AGREEMENT OF

ANTHERA PHARMACEUTICALS, INC.

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