Document:

EX-10.1

 Exhibit 10.1 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
 AMENDED AND RESTATED INTELLECTUAL PROPERTY 

LICENSE AND ASSIGNMENT AGREEMENT 

This Amended and Restated Intellectual Property License and Assignment Agreement (this “ Restated Agreement”) dated as of
November 23, 2009 (the “Amendment Date”) is entered into by and between Relypsa, Inc., a Delaware corporation, having a place of business at 5301 Patrick Henry Drive, Santa Clara, CA 95054 (“Relypsa”) and
Ilypsa, Inc., a Delaware corporation and a wholly-owned subsidiary of Amgen Inc., having a place of business at One Amgen Center Drive, Thousand Oaks, CA 91320 (“Ilypsa”). 

RECITALS 
 WHEREAS, Ilypsa was
acquired by Amgen Inc. (“Amgen”) on July 18, 2007, and each of Amgen, as sole stockholder of Ilypsa, and the board of directors of Ilypsa, approved the transfer to Relypsa of certain tangible and intangible assets relating to
Ilypsa’s polymer therapeutics programs designated ILY102, ILY103, ILY105 and ILY105A in exchange for certain equity securities of Relypsa as set forth in the Exchange Agreement and certain rights in such programs, as further provided herein;
and 
 WHEREAS, Ilypsa assigned to Relypsa certain patents and patent applications relating to such research programs (the “Assigned
Patent Rights” as defined below) and licensed to Relypsa certain intellectual property, pursuant to that certain Intellectual Property License and Assignment Agreement (the “Original Agreement”) dated as of October 26,
2007 (the “Effective Date”), as amended by that Amendment No.1 effective as of August 21, 2008; and 
 WHEREAS,
Relypsa and Ilypsa now desire to amend and restate the Original Agreement in the manner provided in this Restated Agreement and, in connection therewith and as a condition precedent thereto, to enter into: (i) that certain Series A Convertible
Preferred Stock Issuance Agreement, (ii) an Amended and Restated Voting Agreement, and (iii) Amendment No. 4 to Ilypsa’s Investor Rights Agreement (which, together with certain other ancillary documents executed in connection
with such transaction, collectively constitute the “Related Agreements”). 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows: 

  
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	1.	DEFINITIONS 

  

	 	1.1	“Affiliate” means with respect to any specified Person, a Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified
Person; provided, however, that for purposes of this Restated Agreement, no member of either Group shall be deemed to be an Affiliate of any member of the other Group. 

 

	 	1.2	“Amgen” means Amgen Inc., a Delaware corporation. 

  

	 	1.3	“Assigned Patent Rights” means, collectively: (a) the patent applications listed on Exhibits A(i) through A(iii) hereto; (b) all patent applications filed on an invention described in an invention
disclosure listed on Exhibit B hereto; (c) all divisions, continuations (other than continuations-in-part), substitutions and patents of addition of any of the preceding; and (d) all patents and/or registrations that issue from any of the
foregoing patent applications including any reissues, re-examination certificates, confirmations, extensions, substitutions, renewals and supplementary protection certificates. 

 

	 	1.4	“Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions located in the County of Los Angeles are authorized or obligated by law or executive order to close.

  

	 	1.5	“Change of Control” means the occurrence of any of the following events: 

  

	 	(a)	Any Person becomes the beneficial owner (as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of securities or ownership interests of a Party representing fifty percent
(50%) or more of the combined voting power of all outstanding securities or ownership interests of such Party which ordinarily (and apart from rights accruing under special circumstances) have the right to vote in the election of directors
(calculated as provided in paragraph (d) of such Rule 13d-3 in the case of rights to acquire such Party’s securities); 

  

	 	(b)	as a result of a tender offer, merger, sale of assets or other major transaction, Persons who are directors of a Party immediately prior to such transaction cease to constitute a majority of the Board of Directors of
such Party (or any successors to such Party) immediately after such transaction; 

  

	 	(c)	a Party is merged or consolidated with any other Person and, as a result, the holders of securities or ownership interests of such Party, as determined immediately before such transaction, own less than fifty-one
percent (51%) of the outstanding securities or ownership interests of the surviving or resulting entity immediately after such transaction; or 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	(d)	a Party conveys, transfers or leases all or substantially all of its assets to another Person. 

In no event shall “Change of Control” include any transaction in which Relypsa or its successor(s) issue securities to investors
solely for capital raising purposes. 
  

	 	1.6	“Commercially Reasonable Efforts” means the level of effort required to develop, obtain regulatory approvals, manufacture and commercialize (as applicable) Products (for so long as they are Products) in a
sustained manner consistent with the efforts a pharmaceutical or biotechnology company of similar size and resources would typically devote to a product for a similar indication(s) with similar market potential, profit potential and strategic value
(without regard to its own internal research programs), and includes the discretion to terminate the further development of any given Product, where warranted, in Relypsa’s good faith determination, for technical or safety reasons.

  

	 	1.7	“Confidential Information” means all information belonging to any Party and furnished to another Party, other than information that the recipient Party can show was (a) available to the recipient Party
from Third Party sources other than employees or former employees of any Party, on a nonconfidential basis prior to its disclosure to the recipient Party by the furnishing Party, (b) in the public domain through no fault of the recipient Party,
(c) lawfully acquired by the recipient Party from Third Party sources other than employees or former employees of any Party prior to the time that it was furnished to the recipient Party or (d) is independently discovered or developed by
employees of the recipient Party. 

  

	 	1.8	“Contractor” means any Third Party under a written contract to perform discrete research, development, manufacturing or commercialization activities and the like on behalf and for the benefit of one of the
Parties on a fee-for-service basis such as collaborators, contract research organizations, contract laboratory organizations, contract manufacturers, suppliers, distributors and the like. 

 

	 	1.9	 “Controlled” means, with respect to specific intellectual property, that the applicable Party owns or has a license under such intellectual
property and has the ability to grant to the other Party a license or sublicense thereto as contemplated under this Restated Agreement without violating the terms of any agreement or other arrangement with, or the rights of, any Third Party existing
as of the date on which such license, sublicense or other 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
access to such rights is granted hereunder, and where the Party granting such license, sublicense or other access to such rights is required to pay to any Third Party any amounts in consideration
for the grant of such license, sublicense or other access to such rights to such other Party, such license, sublicense or other access to such rights is not in effect until the Parties have agreed upon reimbursement to the granting Party of such
amounts paid (or to be paid) to such Third Party. 

  

	 	1.10	“Effective Date” means October 26, 2007, the date on which each of the conditions specified in Article V of the Exchange Agreement was satisfied (or waived). 

 

	 	1.11	“Exchange Agreement” means that certain Exchange Agreement dated as of the Effective Date between Ilypsa, Amgen and Relypsa. 

 

	 	1.12	“FDA” means the U.S. Food and Drug Administration, and any successor agency thereto. 

  

	 	1.13	“Field” means treatment and/or prophylaxis of disease, excluding the Ilypsa Reserved Field and the Relypsa Reserved Field. 

 

	 	1.14	“Future Products” means any product, including a product which is a non-absorbed drug, which is other than (i) a Product, or (ii) any product comprising or developed from the Retained Assets or any
Retained Field Product. 

  

	 	1.15	“Governmental Authority” means any federal, state, local, foreign or international court, government, department, commission, board, bureau or agency, or any other regulatory, administrative or governmental
authority, including the Nasdaq Global Market. 

  

	 	1.16	“Group” means the Ilypsa Group or the Relypsa Group, as the context requires. 

  

	 	1.17	“ILY101 Program” means Ilypsa’s [***] program that was, as of the Effective Date, in [***] for the [***]. 

  

	 	1.18	“ILY102 Program” means Ilypsa’s [***] research program including all polymer compounds covered by the Assigned Patent Rights relating thereto. 

 

	 	1.19	“ILY103 Program” means Ilypsa’s [***] research program including all polymer compounds covered by the Assigned Patent Rights relating thereto. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	1.20	“ILY104 Program” means Ilypsa’s [***] research program including all compounds covered by the Patent Rights set forth in Exhibit F. 

 

	 	1.21	“ILY105 Product” means any product which comprises, or is conceived or reduced to practice or otherwise derived from, or is developed, manufactured or commercialized using, any compound arising out of the
ILY105 Program. 

  

	 	1.22	“ILY105 Program” means Ilypsa’s potassium binder research program, including the ILY105A back-up program and any other ILY105 Back-Up Product, and further including all polymer compounds covered by the
Assigned Patent Rights relating thereto. 

  

	 	1.23	“Ilypsa Background Know-How” means any Know-How that is Controlled by Ilypsa as of the Effective Date (but excluding Relypsa Background Know-How) that (a) is reasonably necessary or useful to develop,
commercialize, make, use or sell any Products or any Future Products, or (b) is reasonably necessary or useful for the practice of the Assigned Patent Rights in the Field. 

 

	 	1.24	“Ilypsa Background Patent Rights” means any Patent Rights (but excluding the Assigned Patent Rights and Symyx Agreement Patent Rights) that is Controlled by Ilypsa as of the Effective Date and that claims
Ilypsa Background Know-How. 

  

	 	1.25	“Ilypsa Background Technology” means the Ilypsa Background Know-How and Ilypsa Background Patent Rights. 

  

	 	1.26	“Ilypsa Group” means Amgen and all of the Subsidiaries of Amgen, including Ilypsa. 

  

	 	1.27	“Ilypsa Reserved Field” means (a) the binding of [***] or (b) the [***] of [***], or the [***] of the absorption or activity of products of [***] of [***], including [***]. 

 

	 	1.28	“Improvements” means any improvement of or to any invention disclosed in the Assigned Patent Rights or Symyx Agreement Patent Rights that is conceived or reduced to practice or otherwise developed at any time
from the Effective Date or thereafter by Relypsa or any of its Affiliates and Sublicensees or conceived or reduced to practice or otherwise developed in the course of the Shared Equipment and Software Sublicense Agreement by Ilypsa or any of its
Affiliates. 

  

	 	1.29	“Know-How” means all Materials and information, tangible and intangible techniques, technology, processes, practices, trade secrets, improvements, inventions (whether patentable or not), methods, knowledge,
know-how, conclusions, data and results. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	1.30	“Losses” means, with respect to any Person, all losses, liabilities, damages, claims, demands, judgments or settlements of any nature or kind, known or unknown, fixed, accrued, absolute or contingent,
liquidated or unliquidated, including all costs and expenses (legal, accounting or otherwise as such costs are incurred) relating thereto, including punitive damages and criminal fines and penalties, but excluding damages in respect of actual or
alleged lost profits, suffered by such Person, regardless of whether any such losses, liabilities, damages, claims, demands, judgments, settlements, costs, expenses, fines and penalties relate to or arise out of such Person’s own alleged or
actual negligent, grossly negligent, reckless or intentional misconduct. 

  

	 	1.31	“Materials” means the biological or chemical materials that relate exclusively to the ILY102 Program, ILY103 Program and/or ILY105 Program, including any existing quantities of compounds, reagents and assays,
but specifically excluding any biological or chemical materials relating to the Retained Assets. 

  

	 	1.32	“Net Sales” means, with respect to a certain time period, the gross invoiced sales prices charged for all Royalty Products sold by or for Relypsa, its Affiliates and Sublicensees in arms length transactions to
Third Parties during such time period, less the total of the following charges or expenses as determined in accordance with GAAP: 

  

	 	(a)	Trade, cash, prompt payment and/or quantity discounts; 

  

	 	(b)	Returns, allowances, rebates, chargebacks, other allowances, or payments to government agencies; 

  

	 	(c)	Retroactive price reductions applicable to sales of such product; 

  

	 	(d)	Reasonable fees paid to distributors, selling agents (excluding any sales representatives of a Party or any of its Affiliates), group purchasing organizations and managed care entities; 

 

	 	(e)	Credits or allowances for product replacement, whether cash or trade; and 

  

	 	(f)	Bad debt, freight or other transportation charges, insurance charges, additional special packaging, non-recoverable taxes and tariffs, and other governmental charges, provided that the total of all of these items in
this subsection (f) do not exceed 1% of gross sales. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Any disposal of Royalty Products for, or use of Royalty Products in, clinical or pre-clinical
trials, given as free samples, or distributed for indigent programs shall not be included in Net Sales. 
 Upon any sale or other disposal of
any Royalty Product that should be included within Net Sales for any consideration other than an exclusively monetary consideration on bona fide arm’s length terms, then for purposes of calculating the Net Sales under this Restated Agreement,
such Royalty Product shall be deemed to be sold exclusively for money at the average sales price during the applicable reporting period generally achieved for such Royalty Product in the country in which such sale or other disposal occurred when
such Royalty Product is sold alone and not with other products. 
 Where a Royalty Product is sold together with other pharmaceutical
products (excluding devices used for using or administering the Royalty Product excluded for Net Sales above) for a single price (regardless of their packaging) then for the purposes of calculating the Net Sales for the Royalty Products under this
Restated Agreement, the Royalty Product shall be deemed to be sold for an amount equal to the following: 
 (X divided by Y) multiplied by Z

 where X is the average sales price during the applicable reporting period generally achieved for the Royalty Product in the country in
which such sale or other disposal occurred when such Royalty Product is sold alone and not with other pharmaceutical products; Y is the sum of the average sales price during the applicable reporting period generally achieved in that country when
sold alone by each product (including the Royalty Product) included in the combination of pharmaceutical products that is sold for the single price; and Z equals the single price at which the combination of pharmaceutical products represented in Y
was actually sold. In the event one or more of the products in the product combination are not sold separately, the parties shall confer in good faith to determine a fair market price that shall be equitable for the value of the Royalty Product
within the combination product. 
  

	 	1.33	“Notices” has the meaning set forth in Section 16.5. 

  

	 	1.34	 “Patent Right” means any of the following, whether existing now or in the future anywhere in the Territory: (i) any issued patent,
including inventor’s certificates, utility model, substitutions, extensions, 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
confirmations, reissues, re-examination, renewal or any like governmental grant for protection of inventions; and (ii) any pending application for any of the foregoing, including any
continuation, divisional, substitution, additions, continuations-in-part, provisional and converted provisional applications. 

  

	 	1.35	“Person” means an individual, a partnership, a joint venture, a corporation, a trust, a limited liability company, an unincorporated organization, or a government or any department or agency thereof.

  

	 	1.36	“Pivotal Trial” means a human clinical trial that, if the defined endpoints are met, is intended to be a pivotal trial for purposes of obtaining regulatory approval or to otherwise establish safety and
efficacy in patients with the indication being studied for the purposes of obtaining regulatory approval and that satisfies the requirements of 21 C.F.R. 312.21(c) (or its successor regulation), or its equivalent in any other jurisdiction.

  

	 	1.37	“Product” means any product which comprises, or is conceived or reduced to practice or otherwise derived from, or is developed, manufactured or commercialized using, any compound arising out of the Transferred
Assets. 

  

	 	1.38	“Relypsa Background Know-How” means (a) any Know-How that is Controlled by Relypsa as of the Effective Date or any time thereafter that is reasonably necessary or useful to develop, commercialize, make,
use or sell products derived from any Retained Assets or Retained Field Products but excluding Ilypsa Background Know-How, or (b) any Improvements. 

  

	 	1.39	“Relypsa Background Patent Rights” means any Patent Rights that is owned or controlled by Relypsa as of the Effective Date or any time thereafter that claims Relypsa Background Know-How but excluding Assigned
Patent Rights. 

  

	 	1.40	“Relypsa Background Technology” means the Relypsa Background Know-How and Relypsa Background Patent Rights. 

  

	 	1.41	“Relypsa Group” means, collectively, Relypsa and each of its Affiliates. 

  

	 	1.42	“Relypsa Reserved Field” means the use of [***] for the development of pharmaceutical products as [***].

  

	 	1.43	“Representatives” means, with respect to any Person, any of such Person’s directors, officers, employees, agents, consultants, advisors, accountants, attorneys and representatives. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	1.44	“Retained Assets” means, collectively, the ILY101 Program and the ILY104 Program. 

  

	 	1.45	“Retained Field Products” means the development, manufacture, use and/or commercialization of products developed, licensed or acquired by Ilypsa or its Affiliates which bind [***] or [***], or the absorption
or activity of products of [***] of [***], including [***]. 

  

	 	1.46	“Royalty Product” means any Product other than an ILY105 Product. 

  

	 	1.47	“Security Interest” means any mortgage, security interest, pledge, lien, charge, claim, option, right to acquire, voting or other restriction, right-of-way, covenant, condition, easement, encroachment,
restriction on transfer, or other encumbrance of any nature whatsoever. 

  

	 	1.48	“Shared Equipment and Software Sublicense Agreement” means the written agreement attached to the Original Agreement as Exhibit J. 

 

	 	1.49	“Sublicensee” means any Third Party that Relypsa granted a license to any of the Assigned Patent Rights or a sublicense to any of the licensed Patent Rights under the Original Agreement or grants a license to
any of the Assigned Patent Rights or a sublicense to any of the licensed Patent Rights under this Restated Agreement. 

  

	 	1.50	“Subsidiary” means, with respect to any specified Person, any corporation or other legal entity of which such Person or any of its Subsidiaries controls or owns, directly or indirectly, more than 50% of the
stock or other equity interest entitled to vote on the election of members to the board of directors or similar governing body; provided, however, that for purposes of this Restated Agreement, no member of the Relypsa Group shall be deemed to be a
Subsidiary of any member of the Ilypsa Group. 

  

	 	1.51	“Symyx” means Symyx Technologies, Inc. 

  

	 	1.52	“Symyx Agreement” means that certain License Agreement by and between Symyx Technologies, Inc. and Ilypsa (formerly known as Symyx Therapeutics, Inc.) effective as of February 21, 2003, as subsequently
amended on June 27, 2006. 

  

	 	1.53	“Symyx Agreement Patent Rights” means those certain Patent Rights and associated know-how licensed to Ilypsa in accordance with the terms of the Symyx Agreement, including those patents and patent applications
set forth in Exhibit C. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	1.54	“Territory” means worldwide. 

  

	 	1.55	“Third Party” means any person or entity other than the Relypsa Group and the Ilypsa Group. 

  

	 	1.56	“Transferred Assets” means, collectively, the ILY102 Program, ILY103 Program, and ILY105 Program. 

  

	 	1.57	“Valid Claim” means an unexpired claim of an issued Patent Right that has not been disclaimed, revoked or held to be invalid or unenforceable by a court or other authority of competent jurisdiction, from which
decision no appeal can be further taken. 

  

	2.	LICENSE TO RELYPSA 

  

	 	2.1	License Grant. The following licenses in this Section 2.1 granted from Ilypsa to Relypsa under the Original Agreement shall continue in effect as of the Amendment Date under this Restated Agreement, subject
to the terms and conditions of this Restated Agreement: 

  

	 	(a)	an exclusive (even as to Ilypsa), royalty-bearing sublicense under the Symyx Agreement Patent Rights and license under Improvements in the Territory to develop, commercialize, make, have made, use, sell, offer to sell
and import Products in the Field and in the Relypsa Reserved Field; 

  

	 	(b)	a co-exclusive (with Ilypsa), fully paid sublicense in the Territory under the Symyx Agreement Patent Rights to identify, create, develop, commercialize, make, have made, use, sell, offer to sell and import any Future
Products in the Field and in the Relypsa Reserved Field; and 

  

	 	(c)	a non-exclusive, royalty-free license, with the right to sublicense pursuant to Section 2.3, in the Territory under the Ilypsa Background Technology to use or practice the Ilypsa Background Technology to identify,
create, develop, commercialize, make, use, sell and import any Products and Future Products in the Field and in the Relypsa Reserved Field. 

  

	 	2.2	Symyx Agreement Patent Rights. Relypsa agrees to exercise the rights granted to Relypsa under Sections 2.1(a) and 2.1(b) consistent with the terms of the Symyx Agreement, including Section 2.2 of the Symyx
Agreement. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	2.3	Sublicenses. Subject to the terms and conditions of the Symyx Agreement, as amended, and this Restated Agreement, Relypsa shall have the right to grant sublicenses under the rights granted under Section 2.1
to any Third Party, including Contractors. 

  

	 	2.4	Ilypsa Restrictions. Neither Ilypsa nor any of its Affiliates [***]: (a) any [***] with respect to the [***]; (b) any [***] for use in the [***]; or (c) any [***] with respect to the [***] with
Ilypsa or any of its Affiliates with respect to such [***]. For the avoidance of doubt, Ilypsa shall have the [***] with respect to the [***] identified or created through the use of the [***], in all cases [***]. In addition, in the event Ilypsa
assigns or otherwise transfers the Symyx Agreement to any Third Party, it shall notify Relypsa in writing after such assignment or other transfer has been completed. 

 

	 	2.5	[***] On a product-by-product basis, for the earlier of (a) a period of [***], and (b) [***], neither Relypsa nor any of its Affiliates, directly or indirectly, whether alone or with a Third Party, shall
[***]. 

  

	3.	LICENSE TO ILYPSA 

  

	 	3.1	License Grant. The following license in this Section 3.1 granted from Relypsa to Ilypsa under the Original Agreement shall continue in effect as of the Amendment Date under this Restated Agreement, subject
to the terms and conditions of this Restated Agreement: a non-exclusive, royalty-free license in the Territory under the Assigned Patent Rights, Improvements and Relypsa Background Technology to identify, create, develop, commercialize, make, have
made, use, sell, offer to sell and import products derived from any Retained Assets and Retained Field Products, for any use outside the Relypsa Reserved Field. 

  

	 	3.2	Sublicense. Ilypsa shall have the right to grant sublicenses under the license granted under Section 3.1 without the prior written consent of Relypsa, including to Contractors. 

 

	 	3.3	Relypsa [***]. Relypsa (including its successors, designees or transferees), its Affiliates and Sublicensees [***] of any product comprising or derived from the [***] under any and all [***] as of the Effective
Date or is subsequently during the term of this Restated Agreement (a) [***]; or (b) [***], with respect to [***] and [***] or [***] from any [***] and [***] 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	3.4	Ilypsa Covenant Not to Sue. Ilypsa (including its successors, designees or transferees), and its Affiliates hereby covenant not to sue Relypsa, its Affiliates and/or end users of any Product used outside the
Ilypsa Reserved Field under any and all intellectual property, including Patent Rights, that was Controlled by Ilypsa as of the Effective Date. 

  

	4.	TECHNOLOGY TRANSFER 

  

	 	4.1	Assignment of Patent Rights. As of the Effective Date, Ilypsa hereby assigns to Relypsa (to the extent not already actually assigned to Relypsa in accordance with the Original Agreement prior to the Amendment
Date) all right, title and interest in and to (a) the patent applications and patents set forth in Exhibit A, and (b) the inventions described in the invention disclosures set forth in Exhibit B and all future Patent Rights claiming such
inventions. The form of assignment is attached hereto as Exhibit I. Ilypsa agrees to cooperate with Relypsa to provide all necessary executed assignments and other documents as required to perfect the assignment set forth in this Section 4.1.
Notwithstanding the above, Ilypsa shall have no obligation to assign to Relypsa any inventions independently discovered or developed by the Ilypsa Group without reference to or the use of such inventions described in the invention disclosures set
forth in Exhibit B. 

  

	 	4.2	Laboratory Notebooks. Originals of all laboratory notebooks shall be kept by Ilypsa with copies of any laboratory notebooks which contain information related to the Transferred Assets that were provided to
Relypsa pursuant to Section 4.3 of the Original Agreement. Relypsa shall promptly return copies of any lab notebooks mistakenly provided by Ilypsa identified as containing information, data or other Know-How relating only to the Retained
Assets. Notwithstanding the foregoing, Ilypsa agrees to provide Relypsa access to the originals of such laboratory notebooks which contain information related to the Transferred Assets, for purposes of obtaining, maintaining or enforcing its Patent
Rights. Relypsa shall not use for any purpose, shall not disclose to any Affiliate or Affiliate’s Representative and shall promptly delete and/or destroy any information, data or other Know-How relating only to the Retained Assets and contained
in any transferred computer applications, programs and other software and databases provided to Relypsa pursuant to Section 4.3 of the Original Agreement and provide written certification thereof by an officer of Relypsa. For the avoidance of
doubt, Relypsa shall have no right to use any information, data or other Know-How contained in any of the documentation of Ilypsa Background Know-How provided by Ilypsa to Relypsa pursuant to Section 4.3 of the Original Agreement except in a
manner consistent with the licenses set forth in Article 2. 

  
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 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	4.3	Improvements. Upon reasonable request from Ilypsa, Relypsa shall provide to Ilypsa a copy of any patent applications filed or patents issued by or on behalf of Relypsa claiming any Improvements.

  

	 	4.4	Materials. 

  

	 	(a)	Use. Relypsa acknowledges that the Materials are experimental in nature and may have unknown characteristics and properties. Relypsa agrees to use prudence and all reasonable care in the use, handling, storage,
transportation, disposition and containment of any and all Materials, and to maintain and use the Materials under suitable containment conditions in compliance with all applicable national, state and local laws, regulations, rules, ordinances, codes
of practice and current good laboratory practices. 

  

	 	(b)	Assumption of Risk. RELYPSA EXPRESSLY ACKNOWLEDGES THAT IT HEREBY ASSUMES ANY AND ALL RISKS ASSOCIATED WITH THE USE OF MATERIALS, AND THAT THE ILYPSA GROUP SHALL HAVE NO LIABILITY TO RELYPSA OR ANY THIRD PARTY
FOR ANY LIABILITY, PROBLEM, LOSS OR DAMAGE RESULTING FROM RELYPSA’S OR ITS AFFILIATES AND SUBLICENSEES USE OF THE MATERIALS. 

  

	 	4.5	Shared Equipment and Software Sublicense Agreement. The Shared Equipment and Software Sublicense Agreement is terminated by agreement of the parties, and each party will continue to own those licenses, rights and
equipment under that agreement in its possession as of the Amendment Date. Relypsa will pay to Ilypsa, [***] in consideration for retaining, and upon such payment shall, as between the parties (including Ilypsa’s Affiliates as of the Amendment
Date), have all ownership rights in and to, the equipment in Relypsa’s possession under the immediately preceding sentence. 

  

	5.	DILIGENCE 

  

	 	5.1	Diligence Standard. Relypsa, itself or through one or more Sublicensees, shall at all times use Commercially Reasonable Efforts to develop, obtain regulatory approvals for, manufacture and commercialize
(a) Royalty Products and (b) ILY105 Products, provided that the obligations under this Section 5.1 shall terminate with respect to ILY105 Products at such time as Relypsa has satisfied in full all payment obligations under
Section 6.3 of this Restated Agreement. 

  
 13 

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	5.2	Reports. Relypsa shall provide to Ilypsa, within forty-five (45) days after the end of the preceding calendar year, a written report summarizing the status of the program for such Product in development and
the activities performed by or on behalf of Relypsa with respect thereto, including the anticipated timelines for any regulatory approvals with respect to the Products; provided, however, that the obligations under this Section 5.2 shall
terminate with respect to ILY105 Products at such time as Relypsa has satisfied in full all payment obligations under Section 6.3 of this Restated Agreement. 

 

	6.	ROYALTIES AND MILESTONE PAYMENTS 

  

	 	6.1	Royalty Payments. Relypsa shall pay to Ilypsa royalties, on a Royalty Product-by-Royalty Product basis, at a rate equal to the following percentages of aggregate Net Sales of each such Royalty Product sold in the
Territory per year as follows: 

  

					
	 less than

or equal to $[***]
	  	 	[	***]% 
	 greater than $[***]
	  	 	[	***]% 

  

	 	6.2	Royalty Term. Royalties shall be due and owing on each Royalty Product on a country-by-country basis in the Territory for the longer of (a) [***] years from first commercial sale of such Royalty Product in
such country or (b) expiration of the last to expire Valid Claim in the Assigned Patent Rights. 

  

	 	6.3	Milestone Payments. Relypsa shall pay to Ilypsa milestone payment(s) according to one of the following approaches (clause (i) or (ii), below). The election of approach shall be in Relypsa’s discretion.
The applicable payment(s) will be made upon the achievement of the applicable event(s) with respect to the ILY105 Program. 

(i) A cash payment of (a) Six Million Two Hundred Fifty Thousand Dollars ($6,250,000) within thirty (30) days of the first occurrence
of the first dosing of a patient in a Pivotal Trial for the ILY105 Program; and (b) Eighteen Million Seven Hundred Fifty Thousand Dollars ($18,750,000) within thirty (30) days of FDA’s acceptance for filing of a new drug application
for the first indication; or alternatively  
 (ii) a cash payment of Twelve Million Five Hundred Thousand Dollars ($12,500,000)
within thirty (30) days of the first occurrence of the first dosing of a patient in a Pivotal Trial for the ILY105 Program. 

  
 14 

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	6.4	[***]. In the event (a) a Change of Control of Relypsa occurs between (1) the first occurrence of the first dosing of a patient in a Pivotal Trial for an ILY105 Product and (2) the completion of such
Pivotal Trial (i.e., the first date on which unblinded data from the trial is available to Relypsa (or its successor) following the lock of the database for such Pivotal Trial), and (b) as of the date of such Change of Control, [***] pursuant
to [***] of this Restated Agreement (regardless of [***]), then Relypsa (or its successor) will have the right to pay to Ilypsa an amount equal to [***] pursuant to [***] of this Restated Agreement as of such date, in full satisfaction of
Relypsa’s [***] of this Restated Agreement. The foregoing right will be exercisable only within thirty (30) days of the occurrence of such Change of Control and [***] with respect to its milestone payment obligations under [***] of this
Restated Agreement. 

 In the event (x) a Change of Control of Relypsa occurs between (1) the completion of the first
Pivotal Trial (i.e., the first date on which unblinded data from the trial is available to Relypsa (or its successor) following lock of the database for such Pivotal Trial) with respect to the ILY105 Program and (2) the date of the first filing
of a new drug application (NDA) with the FDA with respect to an ILY105 Product, and (y) as of the date of such Change of Control, [***] pursuant to [***] of this Restated Agreement, then Relypsa (or its successor) will have the right to pay to
Ilypsa an amount equal to [***] pursuant to [***] of this Restated Agreement prior to such date, in full satisfaction of Relypsa’s [***] of this Restated Agreement. The foregoing right will be exercisable only within thirty (30) days of
the occurrence of the Change of Control and [***] with respect to its milestone payment obligations under [***] of this Restated Agreement. For clarity, any payment under this Section 6.4 does not replace or otherwise impact any payment(s)
under Article 14 of this Restated Agreement. 
  

	7.	PAYMENTS; RECORDS; AUDITS 

  

	 	7.1	Royalty Payments; Reports. Beginning with the calendar quarter in which the first commercial sale of the first Royalty Product in the Territory has taken place, royalty payments and reports of the sale of the
applicable product(s) for each calendar quarter will be calculated and delivered to Ilypsa under this Restated Agreement within forty-five (45) days of the end of such calendar quarter. Each royalty payment shall be accompanied by a report of
Net Sales setting forth (a) Net Sales on a Royalty Product-by-Royalty Product and country-by-country basis during the applicable calendar quarter; and (b) a calculation of the royalty payment due hereunder for such calendar quarter for
each Royalty Product. 

  
 15 

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	7.2	Financial Reporting. In the event that Ilypsa elects in the future to shift its accounting and public financial reporting practices from calendar quarters and years to fiscal calendar quarters and years, Ilypsa
will provide at least 30 days prior written notice of such election to Relypsa and thereafter the payment and reporting obligations under this Restated Agreement shall be deemed to comport with the fiscal reporting periods instead of the calendar
periods. 

  

	 	7.3	Foreign Currency Exchange. With respect to Net Sales invoiced in U.S. dollars, the Net Sales hereunder shall be expressed in U.S. dollars. With respect to Net Sales invoiced in a currency other than U.S. dollars,
the Net Sales invoiced shall be converted into the US dollar equivalent using a rate of exchange which corresponds to the rate used by Relypsa, for the respective reporting period, related to recording such Net Sales in its books and records that
are maintained in accordance with U.S. GAAP. All payments shall be made in U.S. dollars. 

  

	 	7.4	Audit Rights. Relypsa shall keep complete and accurate records of the underlying revenue and expense data relating to the calculations of Net Sales and payments required under this Restated Agreement. Ilypsa (or
its Affiliates) shall have the right, at its own expense, to have an independent, certified public accountant, selected by Ilypsa (or its Affiliates), review the records of Relypsa upon reasonable notice (which shall be no less than thirty
(30) days prior written notice) and during regular business hours. The audit rights of Ilypsa (or its Affiliates) with respect to any calendar year shall expire three (3) years after the end of such year; provided, however, that the books
and records for any particular calendar year shall only be subject to one audit. Should the inspection lead to the discovery of a discrepancy to Ilypsa’s detriment, Relypsa shall pay the amount of the discrepancy plus interest accrued at the
prime rate, which shall be the interest rate as published from time to time in the “Money Rates” section of the Wall Street Journal. Interest will be compounded at the end of each calendar quarter, at which time the prime rate used to
further compound interest will be the prime rate published on the first Business Day of the new calendar quarter. Interest shall accrue from the payment due date to the actual payment date. Ilypsa shall pay the full cost of the inspection unless the
discrepancy is to Ilypsa’s detriment and is greater than five percent (5%), in which case Relypsa shall pay the cost charged by such accountant for such inspection. 

 

	 	7.5	 Withholding Taxes. In the event that laws, rules or regulations require Relypsa to withhold taxes with respect to any payment to be made by
Relypsa pursuant to this Restated Agreement, Relypsa will notify Ilypsa of such withholding requirement prior to making the payment to Ilypsa and 

  
 16 

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provide such assistance to Ilypsa, including the provision of such documentation as may be required by a tax authority, as may be reasonably necessary in the efforts of Ilypsa (or its Affiliates)
to claim an exemption from or reduction of such taxes. Relypsa will, in accordance with such laws, rules or regulations, withhold taxes from the amount due, remit such taxes to the appropriate tax authority, and furnish Ilypsa with proof of payment
of such taxes within fifteen (15) Business Days following the payment. If taxes are paid to a tax authority, Relypsa shall provide reasonable assistance to Ilypsa (or its Affiliates) to obtain a refund of taxes withheld, or obtain a credit with
respect to taxes paid. 

  

	8.	PATENT PROSECUTION AND ENFORCEMENT 

  

	 	8.1	 Assigned Patent Rights. Relypsa shall have the first right, but not the obligation, to file, prosecute, defend, maintain and enforce the
Assigned Patent Rights before all patent authorities in the Territory and shall be responsible for all costs and expenses, and shall be entitled to retain all recoveries, related thereto. If Relypsa determines in its sole discretion to not file,
prosecute, defend, maintain or enforce any patent application or patent within the Assigned Patent Rights that covers or claims any invention within the (a) ILY105 Program in any country and as of such time Relypsa has not satisfied all
milestone payment obligations under Section 6.3 of this Restated Agreement, or (b) ILY102 Program or ILY103 Program in any country, then in each such case Relypsa shall provide Ilypsa with at least thirty (30) days prior written
notice to any required submission or payment, as applicable, to the patent authority of such country and shall provide Ilypsa with the right and opportunity to assume responsibility and control over the filing, prosecution, defense, maintenance and
enforcement of any such patent application or patent. If Ilypsa assumes responsibility and control over such patent application or patent within such program (each such patent or application an “Assumed Patent”), it shall so notify
Relypsa in writing within such thirty (30) days, and thereafter be responsible for all costs and expenses, and shall be entitled to retain all recoveries, related thereto. For the sake of clarity, for purposes of this Section 8.1,
assumption of responsibility and control over the filing, prosecution, defense, maintenance and enforcement of a patent application or patent means assumption of handling and decision-making with respect to filing, prosecution, defense, maintenance
and enforcement of such patent application or patent, but not an assignment of ownership of that patent application or patent from Relypsa to Ilypsa; however, Relypsa will reasonably cooperate with Ilypsa and take such actions as are necessary to
permit Ilypsa to effectuate and exercise such responsibility and control. In addition, following Relypsa’s satisfaction of all milestone payment obligations under Section 6.3 of this Restated Agreement, upon

  
 17 

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
the written request of Relypsa, Ilypsa shall revert back to Relypsa all responsibility and control over the filing, prosecution, defense, maintenance and enforcement of any Assumed Patent within
the ILY105 Program, and Ilypsa shall have no further rights with respect to such Assumed Patent, subject to Relypsa’s reimbursement of Ilypsa’s out of pocket costs incurred in the filing, prosecution, defense, and maintenance of any such
Assumed Patent. Notwithstanding the foregoing, if Relypsa is pursuing a reasonable patent strategy to obtain and maintain broad, meaningful patent protection for the ILY105 Program, ILY102 Program or ILY103 Program hereunder, as the case may be, and
Relypsa determines to not file, prosecute, defend, maintain or enforce a patent application or patent within the Assigned Patent Rights for such program because it reasonably believes that the filing, prosecuting, defending, maintaining or enforcing
of such patent application or patent would adversely affect such patent strategy, then Relypsa shall provide Ilypsa written notice of such determination and belief at least thirty (30) days prior to any required submission or payment, as
applicable, to the patent authority of the applicable country as specified above but Ilypsa will not have the right to assume responsibility and control over such patent application or patent in such country. Upon request of Ilypsa, Relypsa will
reasonably discuss any such determination and belief with Ilypsa. 

  

	 	8.2	Ilypsa Background Patent Rights. Ilypsa shall have the sole right, but not the obligation, to file, prosecute, defend, maintain and enforce the Ilypsa Background Patent Rights before all patent authorities in the
Territory and shall be responsible for all costs and expenses, and shall be entitled to retain all recoveries, related thereto. 

  

	 	8.3	Symyx Agreement Patent Rights. In the event Relypsa becomes aware of any Third Party infringement of any of the Symyx Agreement Patent Rights outside the Ilypsa Reserved Field, upon its request, Ilypsa and
Relypsa shall meet and discuss whether and under what terms and conditions Relypsa may obtain the right to enforce such Symyx Agreement Patent Rights against such Third Party. 

 

	 	8.4	[***]. Relypsa has provided written notice to Ilypsa dated [***] regarding the [***] patents and/or patent applications with respect to the [***], and Ilypsa acknowledges that Relypsa is [***] patents and patent
applications and that Relypsa is [***]. 

  
 18 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	9.	CONFIDENTIALITY 

  

	 	9.1	Obligations. Each of Ilypsa and Relypsa shall hold, and shall use its commercially reasonable efforts to cause its employees, Affiliates and Representatives to hold, in strict confidence all Confidential
Information furnished to it by such other party pursuant to this Restated Agreement and shall not release or disclose such information to any other Person, except its Representatives, who shall be bound by the provisions of this Section 9.1.
Notwithstanding the foregoing, each of Ilypsa and Relypsa and their respective Representatives and Affiliates shall be deemed to have satisfied its obligations under this Section 9.1 with respect to any Confidential Information if it exercises
the same care with regard to such information as it takes to preserve confidentiality for its own similar information. 

  

	 	9.2	Authorized Disclosures. Ilypsa and Relypsa and their respective employees, Affiliates and Representatives may disclose such information to the extent (and only to the extent) that such disclosure is reasonably
necessary in the following instances: (a) filing or prosecuting (including defending before patent agencies) Patent Rights as contemplated under this Restated Agreement; (b) disclosure to Regulatory Authorities in connection with
Regulatory Filings contemplated under this Restated Agreement; (c) prosecuting or defending litigation or otherwise establishing or enforcing rights or obligations pursuant to this Restated Agreement; (d) complying with applicable
governmental laws and regulations (including the rules and regulations of the Securities and Exchange Commission or any national securities exchange) or any order of a court or governmental agency of competent jurisdiction, if in the reasonable
opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance; and (e) to advisors to and investors in such Party and to bona fide potential investors, lending institutions, acquirors and merger candidates,
provided such Receiving Party has executed with such Third Party a binding confidentiality agreement on terms which are no less favorable than those provided in this Article 9. 

 

	 	9.3	Process. The Party required or intending to disclose the other Party’s Confidential Information under Section 9.2 (a) through (d) shall first have given prompt written notice to such other
Party to enable it to discuss with the first Party the need to disclose such information and to seek any available exemptions from or limitations on such disclosure requirement and shall reasonably cooperate in such efforts by the other Party. If
and whenever any Confidential Information is disclosed under Section 9.2, such disclosure shall not cause any such information to cease to be Confidential Information except to the extent that such disclosure results in a public disclosure of
such information (otherwise than by breach of this Restated Agreement). 

  
 19 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	10.	REPRESENTATIONS AND WARRANTIES 

  

	 	10.1	Representations and Warranties of Relypsa. Relypsa represents and warrants to Ilypsa that, as of the Amendment Date: 

  

	 	(a)	Organization, Standing and Power. Relypsa is a corporation duly organized, validly existing and in good standing under the laws of Delaware and has all requisite corporate power and authority to own, lease and
operate its assets, and to carry on its business as currently conducted. Relypsa is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction where the ownership or operation of the Transferred Assets or the
conduct of its business requires such qualification. 

  

	 	(b)	Corporate Authorization. Relypsa has full corporate power and authority to execute and deliver this Restated Agreement and to perform its obligations hereunder. The execution, delivery and performance by Relypsa
of this Restated Agreement has been duly and validly authorized and no additional corporate or shareholder authorization or consent is required in connection with the execution, delivery and performance by Relypsa of this Restated Agreement.

  

	 	(c)	Consents and Approvals. No consent, approval, waiver, authorization, notice or filing is required to be obtained by Relypsa from, or to be given by Relypsa to, or made by Relypsa with, any Governmental Authority
or other Person in connection with the execution, delivery and performance by Relypsa of this Restated Agreement other than those the failure of which to obtain, give or make would not, individually or in the aggregate, materially impair or delay
the ability of Relypsa to perform its obligations under this Restated Agreement. 

  

	 	(d)	Non-Contravention. The execution, delivery and performance by Relypsa of this Restated Agreement, and the consummation of the transactions contemplated hereby, do not and will not (i) violate any provision
of the Certificate of Incorporation, Bylaws or other organizational documents of Relypsa, or (ii) conflict with, or result in the breach of, or constitute a default under, or result in the termination, cancellation, modification or acceleration
(whether after the filing of notice or the lapse of time or both) of any right or obligation of Relypsa under, or a loss of any benefit to which Relypsa is entitled under, any contract, agreement or arrangement to which it is a party or result in
the creation of any Security Interest upon any of its assets, other than, in the case of clause (ii), conflicts, breaches, terminations, defaults, cancellations, accelerations, losses, violations or Security Interests that would not, individually or
in the aggregate, impair or delay Relypsa’s ability to perform its obligations hereunder. 

  
 20 

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	(e)	Binding Effect. This Restated Agreement, when executed and delivered by Ilypsa, will constitute a valid and legally binding obligation of Relypsa enforceable against it in accordance with its terms.

  

	 	10.2	Representations and Warranties of Ilypsa. Ilypsa represents and warrants to Relypsa that, as of the Amendment Date: 

  

	 	(a)	Organization, Standing and Power. Ilypsa is a corporation duly organized, validly existing and in good standing under the laws of Delaware and has all requisite corporate power and authority to own, lease and
operate its assets, and to carry on its business as currently conducted. Ilypsa is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction where the ownership or operation of its assets or the conduct of
its business requires such qualification. 

  

	 	(b)	Corporate Authorization. Ilypsa has full corporate power and authority to execute and deliver this Restated Agreement and to perform its obligations hereunder. The execution, delivery and performance by Ilypsa of
this Restated Agreement has been duly and validly authorized and no additional corporate or shareholder authorization or consent is required in connection with the execution, delivery and performance by Ilypsa of this Restated Agreement.

  

	 	(c)	Consents and Approvals. No consent, approval, waiver, authorization, notice or filing is required to be obtained by Ilypsa from, or to be given by Ilypsa to, or made by Ilypsa with, any Governmental Authority or
other Person in connection with the execution, delivery and performance by Ilypsa of this Restated Agreement other than those the failure of which to obtain, give or make would not, individually or in the aggregate, materially impair or delay the
ability of Ilypsa to perform its obligations under this Restated Agreement. 

  

	 	(d)	 Non-Contravention. The execution, delivery and performance by Ilypsa of this Restated Agreement, and the consummation of the transactions
contemplated hereby and thereby, do not and will not (i) violate any provision of the Certificate of Incorporation, Bylaws or other organizational documents of Ilypsa, or (ii) conflict with, or

  
 21 

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result in the breach of, or constitute a default under, or result in the termination, cancellation, modification or acceleration (whether after the filing of notice or the lapse of time or both)
of any right or obligation of Ilypsa under, or a loss of any benefit to which Ilypsa is entitled under, any contract, agreement or arrangement to which it is a party or result in the creation of any Security Interest upon any of its assets, other
than, in the case of clause (ii), conflicts, breaches, terminations, defaults, cancellations, accelerations, losses, violations or Security Interests that would not, individually or in the aggregate, impair or delay Ilypsa’s ability to perform
its obligations hereunder. 

  

	 	(e)	Binding Effect. This Restated Agreement, when executed and delivered by Relypsa, will constitute a valid and legally binding obligation of Ilypsa enforceable against it in accordance with its terms.

  

	11.	NO REPRESENTATIONS AND WARRANTIES; EXCEPTIONS 

  

	 	11.1	Except for the representations and warranties provided in Section 10.2, Relypsa understands and agrees that no member of the Ilypsa Group is, in this Restated Agreement, representing or warranting to the Relypsa
Group in any way as to the Transferred Assets or the Assigned Patent Rights, or as to whether the Transferred Assets and Assigned Patent Rights are sufficient, individually or collectively, to enable Relypsa to conduct any business, or as to any
consents or approvals required in connection with the consummation of the transactions contemplated by this Restated Agreement, or as to any licenses or permits from any Governmental Authority that may be necessary or desirable for the conduct of
any business by Relypsa, it being agreed and understood as between the Groups, the members of the Relypsa Group shall take all of the Transferred Assets “as is, where is” and that, except as provided in this Section 12.1, the members
of the Relypsa Group shall bear the economic and legal risk that conveyances of the Transferred Assets and Assigned Patent Rights shall prove to be insufficient or that the title of any member of the Relypsa Group to any Transferred Assets or
Assigned Patent Rights shall be other than good and marketable and free from encumbrances. 

  

	12.	[***] 

  

	 	12.1	Ilypsa hereby [***] that Ilypsa [***] or [***] of the [***] as set forth in [***] to the Original Agreement in connection with services being provided by such Third Party on behalf of Relypsa relating to the development
or manufacture of any Product other than Retained Field Products. 

  
 22 

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	13.	INDEMNIFICATION 

  

	 	13.1	Indemnification by Relypsa. Relypsa agrees to indemnify, defend and hold harmless each member of the Ilypsa Group and each of their Representatives and Affiliates from and against all Losses resulting from any
Third Party claim (other than product liability claims which are covered by the Exchange Agreement) arising out of or otherwise relating to (i) Relypsa’s performance of its obligations under this Restated Agreement, (ii) the research,
development, manufacture, use, offer for sale, sale or other disposition of any Product or any Future Product by or on behalf of Relypsa, its Affiliates or Sublicensees, or (iii) breach of this Agreement, or the representations and warranties
of Relypsa hereunder, by Relypsa. 

  

	 	13.2	Indemnification by Ilypsa. Ilypsa agrees to indemnify, defend and hold harmless each member of the Relypsa Group and each of their Representatives and Affiliates from and against all Losses resulting from any
Third Party claim (other than product liability claims which are covered by the Exchange Agreement) arising out of or otherwise relating to (i) Ilypsa’s performance of its obligations under this Restated Agreement, (ii) the research,
development, manufacture, use, offer for sale, sale or other disposition, in each case only with respect to any such activities taking place after the Effective Date, of any product derived from any Retained Assets, any Retained Field Products or
any Future Product by or on behalf of Ilypsa, its Affiliates or sublicensees, or (iii) breach of this Restated Agreement, or the representations and warranties of Ilypsa hereunder, by Ilypsa. 

 

	 	13.3	Procedure. 

  

	 	(a)	 If any Person who may seek indemnification under this Restated Agreement (the “Indemnitee”) receives notice of the assertion of any
Third Party claim with respect to any matter or Losses against which, under this Article 13, a Person who is obligated under this Restated Agreement to provide indemnification (the “Indemnifying Party”) has agreed to indemnify
such Indemnitee or such Indemnifying Party has agreed to assume, such Indemnitee shall give such Indemnifying Party written notice thereof within 15 days after becoming aware of such Third Party claim; provided, however, that the
failure of any Indemnitee to give notice as provided in this Section 13.3 shall not relieve any Indemnifying 

  
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Party of its obligations under this Article 13, except to the extent that such Indemnifying Party is actually prejudiced by such failure to give notice. Such notice shall describe such Third
Party claim in reasonable detail and, if practicable, shall indicate the estimated amount of the Losses that has been or may be sustained by such Indemnitee. 

  

	 	(b)	An Indemnifying Party, at such Indemnifying Party’s own expense and through counsel chosen by such Indemnifying Party (which counsel shall be reasonably satisfactory to the Indemnitee), may elect to defend any
Third Party claim. If an Indemnifying Party elects to defend a Third Party claim, then, within 10 Business Days after receiving notice of such Third Party claim or sooner if the nature of such Third Party claim so requires, such Indemnifying Party
shall notify the Indemnitee of its intent to do so. Such Indemnitee shall thereupon use commercially reasonable efforts to make available to such Indemnifying Party, at such Indemnifying Party’s expense, such assistance in support of the
prosecution or defense of such litigation as the Indemnifying Party may reasonably request, including without limitation, the right to assert in the name of the Indemnitee such rights, claims, counterclaims or defenses that such Indemnitee would be
or would have been permitted to assert in such litigation or in the prosecution of a claim or counterclaim against a Third Party or in defense against such Third Party claim had the Closing (as defined in the Exchange Agreement) not occurred. Such
Indemnifying Party shall pay such Indemnitee’s reasonable out-of-pocket expenses incurred in connection with such cooperation, promptly as and when incurred. If an Indemnifying Party elects not to defend against a Third Party claim, or fails to
notify an Indemnitee of its election as provided in this Section 13.3 within the period of 10 Business Days described above, such Indemnitee may through counsel chosen by such Indemnitee, defend, compromise and settle such Third Party claim,
and all expenses related to the defense, compromise and settlement of such Third Party claim shall be borne and paid exclusively by the Indemnifying Party; provided, however, that no such Indemnitee may compromise or settle any such
Third Party claim without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed. 

  

	 	(c)	 Notwithstanding the foregoing, the Indemnifying Party shall not, without the prior written consent of the Indemnitee, settle or compromise any Third
Party claim or consent to the entry of any judgment which does not include as an unconditional term thereof 

  
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the delivery by the claimant or plaintiff to the Indemnitee of a written release of the Indemnitee from all liability in respect of such Third Party claim. 

 

	 	(d)	If an Indemnifying Party chooses to defend or to seek to compromise any Third Party claim, the related Indemnitee shall make available to such Indemnifying Party any personnel or any books, records or other documents
within its control or which it otherwise has the ability to make available that are necessary or appropriate for such defense. 

  

	 	13.4	Insurance. Relypsa shall at its own expense procure and maintain during the term of this Restated Agreement, insurance policy/policies, including product liability insurance, adequate to cover its obligations
hereunder and which are consistent with normal business practices of prudent companies similarly situated. Any insurance shall not be construed to create a limit of Relypsa’s liability with respect to its indemnification obligations under this
Article 13. Relypsa’s insurance hereunder shall be primary with respect to the obligations for which Relypsa is liable hereunder. 

  

	14.	CHANGE OF CONTROL 

  

	 	14.1	Until such time as the occurrence of a Qualified Public Offering (as defined in Relypsa’s Amended and Restated Certificate of Incorporation), as far in advance as practicable, but in no event less than three
(3) Business Days, prior to Relypsa entering into a legally binding agreement to effect a Change of Control of Relypsa to occur at a future date, Relypsa shall notify Ilypsa thereof, without any obligation to specify the name(s) of the
acquiring Third Party(ies) nor any of the terms of such contemplated Change of Control transaction. Promptly following the consummation of such Change of Control, Relypsa (or its successor) shall advise Ilypsa whether or not [***]. For the purposes
of this Article 14, [***] means a [***] comprising any [***] comprising or developed from the [***] at the time of the occurrence of a Change of Control, so long as Ilypsa or its Affiliates is either [***]. 

 

	 	14.2	Payment to Ilypsa. 

  

	 	(a)	Upon the occurrence of a Change of Control of Relypsa, Relypsa shall pay to Ilypsa an amount equal to the applicable Payment Value (as defined below) corresponding to the applicable Aggregate Purchase Price (as defined
below) in such Change of Control transaction as set forth in the following table: 

  
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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

					
	 Aggregate Purchase Price
	  	Payment Value	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

  

	 	(b)	Where the Aggregate Purchase Price is paid in whole or in part with stock of the acquirer (“Acquirer Stock”), the value per share of Acquirer Stock issued to Relypsa or its stockholders in any
such Change of Control transaction (the “Acquirer Stock Value”) shall be used to (i) determine (together with the other forms of consideration payable in the Change of Control transaction, if any) the Aggregate Purchase Price
and so to determine which Payment Value is owed to Ilypsa under the chart set forth in Section 14.2(a) and (ii) determine the number of shares to be issued to Ilypsa pursuant to Section 14.2(a) as payment for such Payment Value so
determined for purposes of satisfying the applicable Payment Value then owed as set forth in the chart in Section 14.2(a) (the “Dual Purpose”). Where the relevant purchase agreement and/or other transaction documents relating
to such Change of Control transaction (the “Transaction Documents”) state the Acquirer Stock Value, either in dollar amount or by reference to a formula by which a dollar amount can be derived upon the closing of the Change of
Control transaction (or, in the case of a contingent payment paid in Acquirer Stock, at the time such contingent payment is due) (such stated dollar value or formula-based value, the “Stated Acquirer Stock Value”), then the value of
each share of Acquirer Stock for the Dual Purpose shall, in each case, be equal to the Stated Acquirer Stock Value, subject to Section 14.2(e). 

  

	 	(c)	 If, however, the Transaction Documents do not contain the Stated Acquirer Stock Value, then the following shall apply: (i) if the Acquirer
Stock is publicly traded, then the value of each share of Acquirer Stock for the Dual Purpose shall be equal to the average of the daily volume-weighted average prices for a share of such Acquirer Stock during the period beginning at 9:30 a.m., New
York City time, and ending at 4:00 p.m., New York City time, as reported by Bloomberg, over the ten (10) trading-day period commencing five (5) trading days prior to the public announcement of the signing of the Transaction Documents and

  
 26 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
ending on the fourth (4th) trading day following such announcement (the “Market-Based Formula”), and (ii) if the
Acquirer Stock is not publicly traded, then the value of each share of Acquirer Stock for the Dual Purpose shall be determined by the Board of Directors of Relypsa in good faith. 

 

	 	(d)	Notwithstanding the foregoing, in any Change of Control transaction that includes Acquirer Stock as consideration, the Acquirer Stock Value shall be approved by the Board of Directors of Relypsa (or a special committee
thereof) in good faith as reflecting fair value in the Change of Control transaction for the Dual Purpose. 

  

	 	(e)	Notwithstanding anything to the contrary in this Section 14.2, if the Acquirer Stock is privately traded, or publicly traded and the value of the Acquirer Stock is not calculated in the Transaction Documents with
the Market-Based Formula or any other reasonable market-based formula that determines the Acquirer Stock Value by reference to an average of the actual market trading prices of the Acquirer Stock over a multiple-day trading window of not less than
two (2) trading days and not more than thirty (30) trading days ending on or about the signing date for the Transaction Documents or prior to the closing of the Change of Control transaction, Relypsa shall be required to elect to do either
of the following: 

 (i) prior to entering into the Transaction Documents, Relypsa shall notify Ilypsa of the proposed
Acquirer Stock Value in writing (the “Proposed Value Notice”), and Ilypsa shall have a period of ten (10) business days after its receipt thereof to object to the proposed Acquirer Stock Value reflected in the Proposed Value
Notice by delivering a written notice of objection to Relypsa (the “Objection Notice”) and specifying therein two (2) independent third-party investment banking firms (each, a “Designated Firm”). Upon receipt
of the Objection Notice, Relypsa will select one (1) of the proposed Designated Firms by written notice to Amgen and shall engage the selected Designated Firm to determine the Acquirer Stock Value for the Dual Purpose; or 

(ii) Relypsa shall notify Ilypsa upon the later of (A) ten (10) days after the announcement of the execution of the Transaction
Documents for such Change of Control transaction and (B) the date upon which Ilypsa receives any stockholder consent, information statement or other document describing the Change of Control transaction, which such notice shall contain the
Stated 

  
 27 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
Acquirer Stock Value, or if none, the proposed Acquirer Stock Value and shall include with such notice a true and complete copy of the acquisition agreement comprising such Change of Control
transaction (the “Value Notice”). Ilypsa may object to the proposed Acquirer Stock Value reflected in the Value Notice by delivering an Objection Notice and specifying therein two (2) Designated Firms. Within five (5) days of the
receipt of the Objection Notice, Relypsa will select one (1) of the proposed Designated Firms by written notice to Amgen and shall engage the selected Designated Firm to determine the Acquirer Stock Value. 

In connection with proceeding under clause (i) or (ii) above, Relypsa shall enter into a customary engagement agreement with the
Designated Firm, shall cooperate fully with the Designated Firm in its review and shall use reasonable good faith efforts to cause the acquirer to cooperate fully with the Designated Firm in its review. The Designated Firm shall make its
determination of the Acquirer Stock Value promptly for the above stated purposes (and in any event within ten (10) business days after its engagement). The determination of the Designated Firm of the Acquirer Stock Value shall be binding on all
parties hereto absent manifest error and shall be provided to Ilypsa and Relypsa concurrently. Relypsa and Ilypsa shall each bear one-half of the cost of the engagement of the Designated Firm. 

 

	 	(f)	 Upon the occurrence of a Change of Control of Relypsa, Ilypsa shall receive the Payment Value based on the aggregate consideration actually paid to
Relypsa and the stockholders of Relypsa at the closing of such Change of Control, with the cash portion being paid at the closing and any stock portion being delivered to Ilypsa (or its designee) within ten (10) days of such closing. If the
Aggregate Purchase Price includes deferred or contingent payments, Ilypsa shall receive additional payments each time deferred or contingent consideration is actually paid to Relypsa or the stockholders of Relypsa in respect of such Change of
Control transaction (if any), in the applicable additional amount such that, following each such additional payment (and after taking into account all previous payments of the Payment Value to Ilypsa), Ilypsa will have received the aggregate Payment
Value corresponding to the total Aggregate Purchase Price actually paid through the date of the distribution of such deferred or contingent payment to Relypsa and the stockholders of Relypsa in respect of the Change of Control transaction. For
example, if the Aggregate Purchase Price is $450 Million, of which $175 Million is paid in cash at closing, and an earnout payment of an additional $125 

  
 28 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
Million is paid in cash on event X, and an additional earnout payment of an additional $150 Million is paid in cash on event Y; then Ilypsa would be paid $15 Million in cash at closing, and upon
achievement of event X, would be paid $10 Million in cash, and upon achievement of event Y, would be paid $5 Million in cash, for total payment to Ilypsa of $30 Million in cash. 

 

	 	(g)	As used herein the term “Aggregate Purchase Price” means all consideration payable to Relypsa or its stockholders in a Change of Control transaction (including any deferred or contingent payments),
prior to deductions therefrom (if any), but less payments paid to third party advisors in connection with the negotiation, execution and consummation of the Change of Control transaction (including consultants, legal advisors and financial advisors)
to the extent that such payments do not exceed 3% of all such consideration. In addition, to the extent the Transaction Documents provide for a portion of the Aggregate Purchase Price to be withheld in escrow, the amount net of such escrow actually
paid upon the occurrence of such Change of Control shall be used to determine the Aggregate Purchase Price for purposes of determining the Payment Value to be paid within ten (10) days of such occurrence; provided, however, that upon release,
if any, of such escrowed amount, Ilypsa shall be paid the applicable additional amount such that, following such additional payment (and after taking into account all previous payments of the Payment Value to Ilypsa), Ilypsa will have received the
aggregate Payment Value corresponding to the total Aggregate Purchase Price actually paid through the date of the distribution of such released amount to Relypsa and the stockholders of Relypsa in respect of the Change of Control transaction.

  

	 	14.3	Acquisition of [***]. If, during the time period referred to [***], Relypsa (or, for the avoidance of doubt, its successor) [***] through Change of Control, merger, acquisition or otherwise, to develop and/or
commercialize one or more [***], it will [***]. In no event shall [***]. 

  

	15.	TERM AND TERMINATION 

  

	 	15.1	Term. This Restated Agreement shall commence on the Amendment Date, and unless earlier terminated as provided in this Article 15, shall remain in full force and effect on a country-by-country basis until the
expiration of the later to occur of (a) the last to expire of the Patent Rights licensed hereunder in the applicable country; or (b) the last sale of any Royalty Product in the applicable country. 

  
 29 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	15.2	Termination for Cause. A Party shall have the right to terminate this Restated Agreement, on a program-by-program basis, upon the material breach by the other Party of such other Party’s material obligations
with respect to the ILY102 Program, ILY103 Program or ILY105 Program (with respect to the ILY105 Program only until such time as Relypsa has satisfied all milestone payment obligations under Section 6.3 of this Restated Agreement) (the
“Reverted Program”), as the case may be, if such breach is not cured within sixty (60) days (or such longer period as is reasonably requested by such breaching Party if such breach is incapable of being cured within the 60-day
period) after receipt of written notice from such Party thereof specifying the nature of the alleged breach. Notwithstanding the foregoing, in the event of a dispute as to whether the breaching Party committed or did not cure such material breach,
for so long as such dispute is pending, the non-breaching Party’s right to so terminate this Restated Agreement shall be tolled. 

  

	 	15.3	Effect of Termination for Breach. 

  

	 	(a)	In the event of such termination by Ilypsa due to material breach by Relypsa, the following shall apply: (i) all licenses granted by Ilypsa pursuant to Section 2.1 with respect to such Reverted Program shall
terminate; (ii) Relypsa shall assign to Ilypsa all Assigned Patent Rights relating to such Reverted Program, and where such Assigned Patent Rights cover or claim inventions related to programs in addition to the Reverted Program, Ilypsa shall
grant to Relypsa an exclusive license under such Assigned Patent Rights consistent with the terms and conditions of this Restated Agreement only to the extent necessary to continue development and commercialization of products under other
Transferred Assets or any Future Products; (iii) Relypsa shall assign to Ilypsa all regulatory filings and approvals held by it with respect to such Reverted Program, if any; (iv) Relypsa shall transfer to Ilypsa any product inventory
on-hand relating to such Reverted Program at a price equal to Relypsa’s cost of goods and (v) Relypsa shall grant to Ilypsa an exclusive license under Relypsa’s then-owned or controlled intellectual property to make, have made, use,
sell, offer for sale, or import products arising out of such Reverted Program, worldwide. 

  

	 	(b)	In the event of material breach by Ilypsa, all licenses granted to Relypsa set forth in this Restated Agreement with respect to such Reverted Program shall survive. In addition, Relypsa shall also have the right, in
addition to any other remedies, to offset against all royalties or other payments owed to Ilypsa hereunder any damages incurred by Relypsa as a result of such breach, as determined by a court of competent jurisdiction from which decision no appeal
can be further taken. 

  
 30 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	15.4	Termination for Insolvency. If voluntary or involuntary proceedings by or against a Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such Party, or
proceedings are instituted by or against such Party for corporate reorganization or the dissolution of such Party, which proceedings, if involuntary, shall not have been dismissed without prejudice within sixty (60) days after the date of
filing, or if such Party makes an assignment for the benefit of creditors, or substantially all of the assets of such Party are seized or attached and not released within sixty (60) days thereafter, the other Party may immediately terminate
this Restated Agreement effective upon notice of such termination. 

  

	 	15.5	Effects of Termination. 

  

	 	(a)	Accrued Rights and Obligations. Termination of this Restated Agreement for any reason shall not release any Party from any liability that, at the time of such termination, has already accrued to the other Party
or that is attributable to a period prior to such termination, nor preclude either Party from pursuing any rights and remedies it may have hereunder or at law or in equity that accrued or are based upon any event occurring prior to such termination.

  

	 	(b)	Survival. Sections 2.5, 3.3 and 3.4 (to the extent relating to activities prior to the effective date of termination), 8.2, and Articles 1, 6 (in the event of a material, uncured breach by Ilypsa and royalty
payments not extinguished by any damages claim of Relypsa), 7, 9, 13, 15 and 16 of this Restated Agreement shall survive expiration or early termination of this Restated Agreement for any reason. Sections 4.1 and 8.1 of this Restated Agreement shall
survive expiration or early termination of this Restated Agreement other than a termination due to material breach by Relypsa. 

  

	 	15.6	 Rights in Bankruptcy. All rights and licenses granted under or pursuant to this Restated Agreement by Relypsa or Ilypsa are, and shall
otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. The Parties agree that the Parties, as
licensees of such rights under this Restated Agreement, shall retain and may fully exercise all of their rights and elections under the U.S. Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding
by or against either Party 

  
 31 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	
under the U.S. Bankruptcy Code, the Party hereto that is not a party to such proceeding shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual
property and all embodiments of such intellectual property, and same, if not already in its possession, shall be promptly delivered to them (i) upon any such commencement of a bankruptcy proceeding upon its written request therefor, unless the
Party subject to such proceeding elects to continue to perform all of its obligations under this Restated Agreement, or (ii) if not delivered under (i) above, following the rejection of this Restated Agreement by or on behalf of the Party
subject to such proceeding upon written request therefor by the non-subject Party. 

  

	16.	MISCELLANEOUS 

  

	 	16.1	Complete Agreement. This Restated Agreement and the Related Agreements and the Exhibits hereto and thereto and the agreements and other documents referred to herein and therein shall constitute the entire
agreement between the parties hereto with respect to the subject matter hereof. This Restated Agreement shall apply as of the Amendment Date and the Original Agreement (as and when amended) shall have applied to matters under the Original Agreement
between the Effective Date and the Amendment Date. 

  

	 	16.2	Expenses. Except as otherwise specifically provided in this Restated Agreement, Relypsa and Ilypsa shall bear their respective expenses, costs and fees (including attorneys’, auditors’ and financing
fees, if any) in connection with the transactions contemplated hereby, including the preparation, execution and delivery of this Restated Agreement and compliance herewith, whether or not the transactions contemplated hereby are effected.

  

	 	16.3	Negotiation. Prior to resorting to litigation, the parties will first attempt to resolve any controversy or claim arising out of or relating to this Restated Agreement, or the breach hereof by direct discussions
and negotiation, including if either party so elects, negotiation among senior executives of Ilypsa and Relypsa. Any party asked to participate in such negotiations will use reasonable efforts to make a designated senior executive available promptly
to participate in negotiations, with authority to resolve the matter. The designated senior executives shall negotiate with each other in good faith and, recognizing their mutual interests, attempt to reach a just and equitable solution satisfactory
to both parties. If they do not reach a resolution, the parties shall be entitled to resort to such remedies as they may have in equity or at law. 

  
 32 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	16.4	Governing Law. This Restated Agreement shall be governed by and construed in accordance with the laws of the State of California (other than the laws regarding choice of laws and conflicts of laws) as to all
matters, including matters of validity, construction, effect, performance and remedies. 

  

	 	16.5	Notices. All notices, requests, claims, demands and other communications hereunder (collectively, “Notices”) shall be in writing and shall be given (and shall be deemed to have been duly given
upon receipt) by delivery in person, by facsimile, electronic mail or other standard form of telecommunications (provided confirmation is delivered to the recipient the next Business Day in the case of facsimile, electronic mail or other
standard form of telecommunications) or by delivery via a recognized overnight air courier, addressed as follows: 

 If to
Ilypsa: 
 One Amgen Center Drive 

Thousand Oaks, CA 91320 

Attention:  [***] 

                    [***] 

Facsimile:   [***] 

with a copy to: 
 Attention: David
J. Scott 
                   Senior Vice President
and Secretary 
 Facsimile: [***] 

If to Relypsa: 
 Relypsa, Inc.

 5301 Patrick Henry Drive 

Santa Clara, CA 95054 
 Attention:
General Counsel 
 Facsimile: [***] 

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

Cooley Godward Kronish, LLP 
 Five
Palo Alto Square 
 3000 El Camino Real 

Palo Alto, CA 94306-2155 

Attention: [***], Esq. 

Facsimile: [***] 

  
 33 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	    	or to such other address as any party hereto may have furnished to the other parties by a notice in writing in accordance with this section. 

 

	 	16.6	Amendment and Modification. This Restated Agreement may be amended, modified or supplemented only by a written agreement signed by both of the parties hereto. 

 

	 	16.7	Successors and Assigns; No Third Party Beneficiaries. This Restated Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their successors and
permitted assigns, but neither this Restated Agreement nor any of the rights, interests and obligations hereunder shall be assigned by any party hereto without the prior written consent of the other party (which consent shall not be unreasonably
withheld or delayed). Except as specifically provided under this Restated Agreement, no intellectual property owned or controlled by any Third Party successor to or assignee of a Party immediately prior to the event resulting in such assignment or
succession in interest shall be included in any of the intellectual property licensed to, or information to be provided by, the Party undergoing such succession or assignment. 

 

	 	16.8	Counterparts. This Restated Agreement may be executed 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.

  

	 	16.9	Interpretation. The headings contained in this Restated Agreement are solely for the purpose of reference, are not part of the agreement of the parties hereto and shall not in any way affect the meaning or
interpretation of this Restated Agreement. 

  

	 	16.10	Legal Enforceability. Any provision of this Restated Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Each party acknowledges that
money damages would be an inadequate remedy for any breach of the provisions of this Restated Agreement and agrees that the obligations of the parties hereunder shall be specifically enforceable. 

 

	 	16.11	References; Construction. References to any “Exhibit” or “Section,” without more, are to Exhibits and Sections to or of this Restated Agreement. Unless otherwise expressly stated, clauses
beginning with the term “including” set forth examples only and in no way limit the generality of the matters thus exemplified. 

  
 34 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	16.12	Further Assurances. Each Party agrees to do and perform all such further acts and things and shall execute and deliver such other agreements, certificates, instruments and documents necessary or that the other
party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and to evidence, perfect or otherwise confirm its rights hereunder. 

  
 35 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 IN WITNESS WHEREOF, the parties hereto have caused this Restated Agreement to be duly executed as of the date
first above written. 
  

			
	ILYPSA
		
	By:	 	/s/ Robert A. Bradway
		 	 Name:  Robert A. Bradway

Title:    Executive Vice President and

     Chief Financial Officer

  

			
	RELYPSA
		
	By:	 	/s/ Gerrit Klaerner
		 	 Gerrit Klaerner, Ph.D.
 Senior Vice
President, Chief Operating
 Officer

  
  

  
 36 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A(i) 

ILY 102 PROGRAM 
  

	
	 [***]

	     [***]

  

  
 A-1 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A(ii) 

ILY 103 PROGRAM 
  

	
	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

  

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A(ii) (continued) 

 

	
	 [***]

	     [***]

  

  
 A-3 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A(iii) 

ILY 105 PROGRAM 
  

	
	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

  

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A(iii) (continued) 

 

	
	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

	 [***]

	     [***]

  
 A-5 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT B 

Invention Disclosures 
  

			
	 Ilypsa Ref.
No.
	  	 Title

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

  

  
 B-1 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT C 

Symyx Agreement Patent Rights 
  

			
	 Granted Patent or Published No.
	  	 Title

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

  

  
 F-1 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT F 

ILY 104 Program Patent Applications and Patents 
  

													
	 Ilypsa Ref. No.
	  	 Country
	  	 Application No.
	  	 Patent

No.
	  	 Title
	  	 Status
	  	 Primary
Program

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

  
 F-1 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT F (continued) 

 

													
	 Ilypsa Ref. No.
	  	 Country
	 	 Application No.
	 	 Patent

No.
	 	 Title
	  	 Status
	 	 Primary
Program

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

  
 F-2 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT F (continued) 

 

													
	 Ilypsa Ref. No.
	  	 Country
	 	 Application No.
	 	 Patent

No.
	 	 Title
	  	 Status
	 	 Primary
Program

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

  
 F-3 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT F (continued) 

 

													
	 Ilypsa Ref. No.
	  	 Country
	 	 Application No.
	 	 Patent

No.
	 	 Title
	  	 Status
	 	 Primary
Program

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

  
 F-4 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT I 

Assignment 
 WHEREAS
ILYPSA, INC., (hereinafter, “ASSIGNOR”), a corporation organized and existing under the laws of the State of Delaware, and having a place of business at One Amgen Center Drive, Thousand Oaks, CA 91320-1799, is the assignee of interest in
inventions set forth in U.S. and foreign patents and U.S. and foreign patent applications (collectively, “Patent Documents”), listed in Appendix A hereto; 

WHEREAS             , (hereinafter, “ASSIGNEE”), a corporation
organized and existing under the laws of the State of             , and having a place of business at             ,
is desirous of acquiring all interest in and to said inventions and to the Patent Documents listed in Appendix A; 
 NOW, THEREFORE, be it
known to all whom it may concern: 
 THAT for good and valuable consideration the receipt of which is hereby acknowledged, ASSIGNOR has and
does hereby sell, assign, transfer and set over unto ASSIGNEE, its successors and assigns, the full and exclusive right, title and interest, including all rights acquired in foreign countries, in and to said Patent Documents (listed in Appendix A,
attached hereto and incorporated herein by reference), including any divisions, renewals, continuations in whole or in part, substitutions, conversions, reissues, prolongations or extensions thereof, and in and to any and all letters patents to be
granted and issued therefor, not only for, to and in the United States of America, its territories and possessions, but for, to and in all other countries; and it has been and is hereby authorized and requested that the appropriate government
agencies issue said letters patents to ASSIGNEE, its successors and assigns, in accordance with this assignment. 
 ASSIGNOR HEREBY
covenants and agrees that it has the full right to convey the interest herein assigned, and ASSIGNOR has not executed, and will not execute, any agreement in conflict herewith. 

IN WITNESS AND IN TESTIMONY WHEREOF, I as a duly authorized representative of ASSIGNOR, hereunto set my hand on the date shown below. 

THIS             day of
            , 20    . 
  

			
	ILYPSA, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 J-1 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT F (continued) 

STATE OF CALIFORNIA             ) 

COUNTY OF VENTURA             ) 

On             , before me personally appeared
            , known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by
his signature on the instrument the entity upon behalf of which the person acted, executed the instrument. 
 WITNESS my hand and official
seal. 
  

			
		 	 
		 	Notary Public

  
 F-2 

 [***] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.EX-10.2

 Exhibit 10.2 
 EXECUTION VERSION 
 RELYPSA, INC. 

SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

THIS SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into as of the 26th day of July, 2012 (the “Effective Date”), by and among
RELYPSA, INC., a Delaware corporation (the “Company”) and the investors listed on EXHIBIT A hereto, referred to
hereinafter as the “Investors” and each individually as an “Investor.” 

RECITALS 
 WHEREAS, certain of the Investors are purchasing shares of the Company’s Series C-1 Preferred Stock (“Series C-1”) and Series C-2 Preferred Stock
(“Series C-2”) pursuant to that certain Series C Preferred Stock and Warrant Purchase Agreement (as may be amended from time to time, the “Purchase
Agreement”) of even date herewith (the “Financing”); 
 WHEREAS, in connection with the Financing, the Company shall amend and restate its Amended and Restated Certificate of Incorporation by filing a further Amended and Restated
Certificate of Incorporation of the Company (as may be amended from time to time, the “Restated Charter”), which shall be effective on the Effective Date, in the form attached to the Purchase
Agreement, immediately prior to the consummation of the Financing; 

WHEREAS, the obligations in the Purchase Agreement are conditioned upon the execution
and delivery of this Agreement; 
 WHEREAS, certain of the Investors (the “Prior
Investors”) are holders of the Company’s Series A-1 Preferred Stock (“Series A-1”), Series A Preferred Stock
(“Series A”), Series B-1 Preferred Stock (“Series B-1”) and Series B-2 Preferred Stock (“Series
B-2”); 
 WHEREAS, the Prior Investors and the
Company are parties to an Amended and Restated Investor Rights Agreement dated September 3, 2010 and as amended (the “Prior Agreement”); and 
 WHEREAS, certain of the parties to the Prior Agreement, including Prior Investors who are, of the Effective Date, holders of such requisite number of
shares necessary to amend the Prior Agreement pursuant to Section 5.5 of the Prior Agreement, desire to amend and restate the Prior Agreement and accept the rights and covenants hereof in lieu of their rights and covenants under the Prior
Agreement. 

 NOW, THEREFORE, in connection with the consummation of
the Financing, the Company and the Investors have agreed to the registration rights, information rights, and other rights as set forth below: 

SECTION 1. GENERAL. 

1.1 Amendment and Restatement of Prior Agreement. The Prior Agreement is hereby amended and restated in its entirety as set forth
herein. Such amendment and restatement is effective upon the execution of this Agreement on the date hereof by the Company and certain of the Prior Investors who are party hereto, pursuant to Section 5.5 of the Prior Agreement. Upon such
execution, all provisions of, rights granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety and shall have no further force or effect, including, without limitation, all rights of first refusal
and any notice period associated therewith otherwise applicable to the transactions contemplated by the Purchase Agreement. 
 1.2 Definitions. As used in this Agreement the following terms shall have the following respective meanings: 
 (a) “C-1 Closing” means the C-1 Closing, as defined in the Purchase Agreement. 
 (b) “C-2 Closing” means the C-2 Closing, as defined in the Purchase Agreement. 

(c) “Common Stock” means the Company’s Common Stock, par value of one
tenth of one cent ($0.001) per share. 
 (d) “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 (e) “Form S-3” means
such form under the Securities Act as in effect on the date hereof or any successor or similar registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by
reference to other documents filed by the Company with the SEC. 
 (f)
“Holder” means any person owning of record Registrable Securities that have not been sold to the public or any assignee of record of such Registrable Securities in accordance with Section 2.9
hereof. 
 (g) “Initial C-1 Closing” means the Initial C-1 Closing,
as defined in the Purchase Agreement. 
 (h) “Initial Offering” means
the Company’s first firm commitment underwritten public offering of its Common Stock registered under the Securities Act. 

(i) “Lender” shall mean TriplePoint Capital, LLC 

(j) “Lender Warrant” shall mean the warrant issued to the Lender to purchase
shares of Series A-1 pursuant to that certain Plain English Warrant Agreement, dated May 22, 2008, as amended from time to time. 
 (k) “Major Investor” means (a) any Investor who, together with any other Investors that such Investor controls, or is controlled by, or is
under common control with, in the aggregate owns at least five percent (5%) of the issued and outstanding shares of Registrable 

  
 2 

 
Securities (as adjusted for stock splits, dividends, recapitalizations and the like following each of the Initial C-1 Closing and the Subsequent C-1 Closing, (b) Mediphase Venture
Partners II Limited Partnership, for so long as it (together with its affiliates) continues to hold all of the shares of Series B-1 Preferred Stock held as of the Effective Date by such persons (as adjusted for stock splits, dividends,
recapitalizations and the like) and (c) Sibling Capital Fund I, LLC (“Sibling”), for so long as such Investor (together with its affiliates) holds (i) a number of shares of Series Preferred
representing not less than five percent (5%) of the total number of shares of Common Stock issued or issuable upon the conversion or exercise of all outstanding Series Preferred and Convertible Securities (as defined in the Restated Charter)
(as adjusted for stock splits, dividends, recapitalizations and the like), and (ii) all of the shares of Series C Preferred Stock held as of the Effective Date by such Investor. 

(l) “Preferred Stock” means the Company’s Preferred Stock, par value of
one tenth of one cent ($0.001) per share, including the Series A Preferred, Series B Preferred and Series C Preferred. 

(m) “Register,” “registered,” and
“registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such
registration statement or document. 
 (n) “Registrable Securities”
means (a) Common Stock of the Company issuable or issued upon conversion of the Shares; (b) for purposes of Section 2 (except Sections 2.1 and 2.4) and Section 5 hereof, shares of Common Stock issued or issuable upon conversion
of the Preferred Stock issued or issuable upon exercise of the Lender Warrant; (c) for purposes of Section 2 (except Sections 2.1) and Section 5 hereof, shares of Common Stock issued or issuable upon conversion of the Preferred Stock
issued or issuable upon exercise of the SVB Warrant; and (d) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution
with respect to, or in exchange for or in replacement of, such above-described securities. Notwithstanding the foregoing, Registrable Securities shall not include any securities (i) sold by a person to the public either pursuant to a
registration statement or Rule 144 or (ii) sold in a private transaction in which the transferor’s rights under Section 2 of this Agreement are not assigned. 
 (o) “Registrable Securities then outstanding” means the number of shares of the Company’s Common Stock that are Registrable Securities and
either (a) are then issued and outstanding or (b) are issuable pursuant to then exercisable or convertible securities. 
 (p) “Registration Expenses” means all expenses incurred by the Company in complying with Sections 2.2, 2.3 and 2.4 hereof, including, without
limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, and fees and disbursements of counsel for a single special counsel designated by the majority of the Holders requesting registration
(not to exceed seventy-five thousand dollars ($75,000)), blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company which
shall be paid in any event by the Company). 

  
 3 

 (q) “Requisite Holders” means the
holders of shares of Series Preferred representing at least fifty-five percent (55%) of the total number of shares of Common Stock into which the outstanding Series Preferred could be converted pursuant to Section 5(a) of Article IV(E) of
the Restated Charter, voting together as a single class. 
 (r) “SEC”
or “Commission” means the Securities and Exchange Commission. 
 (s)
“Securities Act” means the Securities Act of 1933, as amended. 
 (t)
“Selling Expenses” means all underwriting discounts and selling commissions applicable to the sale. 
 (u) “Series A Preferred” means the Series A Preferred Stock, the Series A-1 Preferred Stock of the Company, and any securities of the Company
issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such above-described securities.

 (v) “Series B Preferred” means the Company’s Series B-1
Preferred Stock or Series B-2 Preferred Stock and any securities of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or
in exchange for or in replacement of, such above-described securities. 
 (w) “Series C
Preferred” means the Company’s Series C Preferred Stock, Series C-1 Preferred Stock or Series C-2 Preferred Stock and any securities of the Company issued as (or issuable upon the conversion or exercise of any
warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such above-described securities. 

(x) “Series Preferred” means the Company’s Series A Preferred Stock,
Series A-1 Preferred Stock, Series B-1 Preferred Stock, Series B-2 Preferred Stock, Series C Preferred Stock, Series C-1 Preferred Stock and Series C-2 Preferred Stock. 
 (y) “Shares” means (i) shares of the Company’s Preferred Stock held from time to time by the Investors listed on
EXHIBIT A hereto and their permitted assigns and (ii) the Preferred Stock issuable upon exercise of the SVB Warrant, Lender Warrant, and warrants held by the Investors issued prior to the date hereof. 

(z) “Special Registration Statement” means (i) a registration statement
relating to any employee benefit plan or (ii) with respect to any corporate reorganization or transaction under Rule 145 of the Securities Act, any registration statements related to the issuance or resale of securities issued in such a
transaction or (iii) a registration related to stock issued upon conversion of debt securities. 
 (aa)
“Subsequent C-1 Closing” means the Subsequent C-1 Closing, as defined in the Purchase Agreement. 

  
 4 

 (bb) “SVB” means Silicon Valley
Bank. 
 (cc) “SVB Warrant” means the warrant issued to SVB to
purchase shares of Series A-1 pursuant to that certain Warrant To Purchase Stock, dated July 30, 2008, as amended from time to time. 

SECTION 2. REGISTRATION; RESTRICTIONS ON TRANSFER. 
 2.1 Restrictions on Transfer. 
 (a) Each Holder agrees not to make
any disposition of all or any portion of the Shares or Registrable Securities unless and until: 
 (i) there is then in
effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 
 (ii) (A) The transferee has agreed in writing to be bound by the terms of this Agreement and the Company’s Second Amended and Restated Voting Agreement dated as of even date herewith and as
amended from time to time (the “Voting Agreement”), (B) such Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement
of the circumstances surrounding the proposed disposition, and (C) if reasonably requested by the Company, such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition
will not require registration of such shares under the Securities Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144, except in unusual circumstances. After its Initial Offering, the
Company will not require any transferee pursuant to Rule 144 to be bound by the terms of this Agreement if the shares so transferred do not remain Registrable Securities hereunder following such transfer effective as of the date of transfer. Any
transfer in violation of this Section 2.1 shall be void. 
 (b) Notwithstanding the provisions of subsection
(a) above, no such restriction shall apply to a transfer by a Holder that is (A) a partnership transferring to its partners, former partners or affiliated funds in accordance with partnership interests, (B) a corporation transferring
to a wholly-owned subsidiary or a parent corporation that owns all of the capital stock of the Holder, (C) a limited liability company transferring to its members or former members in accordance with their interest in the limited liability
company, (D) an individual transferring to the Holder’s family member or trust for the benefit of an individual Holder or (E) an individual or entity transferring to a transferee satisfying the criteria to be a Major Investor;
provided, that, in each case, within ten (10) days after such transfer, the Company is given written notice thereof, and the transferee will agree in writing to be subject to the terms of this Agreement to the same extent as if he were
an original Holder hereunder. 

  
 5 

 (c) Each certificate representing Shares or Registrable Securities shall be stamped
or otherwise imprinted with legends substantially similar to the following (in addition to any legend required under applicable state securities laws): 
 “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR
HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR SOLD PURSUANT TO AN APPLICABLE EXEMPTION THEREFROM. 
 THE SALE,
PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS, PROHIBITIONS AND OTHER TERMS AND CONDITIONS OF A CERTAIN INVESTOR RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE
COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.” 
 (d) The
Company shall be obligated to reissue promptly unlegended certificates at the request of any Holder thereof if the Company has completed its Initial Offering and the Holder shall have obtained an opinion of counsel (which counsel may be counsel to
the Company) reasonably acceptable to the Company to the effect that the securities proposed to be disposed of may lawfully be so disposed of without registration, qualification and legend; provided that the second legend listed above shall
be removed only at such time as the Holder of such certificate is no longer subject to any restrictions hereunder. 
 (e)
Any legend endorsed on an instrument pursuant to applicable state securities laws and the stop-transfer instructions with respect to such securities shall be removed upon receipt by the Company of an order of the appropriate blue sky authority
authorizing such removal. 
 2.2 Demand Registration. 

(a) Subject to the conditions of this Section 2.2, if the Company shall receive a written request from the Requisite Holders
(the “Initiating Holders”) that the Company file a registration statement under the Securities Act covering the registration of the Registrable Securities then outstanding (a
“Qualified Public Offering”), then the Company shall, within thirty (30) days of the receipt thereof, give written notice of such request to all Holders, and subject to the limitations of this
Section 2.2 , effect, as expeditiously as reasonably possible (and no later than ninety (90) days from the receipt of the request), the registration under the Securities Act of all Registrable Securities that all Holders request to be
registered. 
 (b) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by
means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 2.2 or any request pursuant to Section 2.4 and the Company shall include such information in the written notice referred to
in Section 2.2(a) or Section 2.4(a), as applicable. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the
inclusion of such Holder’s Registrable Securities in the underwriting to the 

  
 6 

 
extent provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting by the Holders of a majority of the Registrable Securities held by all Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the Company). Notwithstanding any other
provision of this Section 2.2 or Section 2.4, if the underwriter advises the Company that marketing factors require a limitation of the number of securities to be underwritten (including Registrable Securities) then the Company shall so
advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares that may be included in the underwriting shall be first allocated to the Holders of Series C Preferred on a pro rata
basis based on the number of such securities held by all such Holders (including the Initiating Holders), then to the Holders of Series B Preferred on a pro rata basis based on the number of such securities held by all such Holders (including
the Initiating Holders), then to the Holders of Series A Preferred on a pro rata basis based on the number of such securities held by all such Holders (including the Initiating Holders). Any Registrable Securities excluded or withdrawn from
such underwriting shall be withdrawn from the registration. 
 (c) The Company shall not be required to effect a
registration pursuant to this Section 2.2: 
 (i) prior to the earlier of (A) the third anniversary of the
date of this Agreement or (B) of the expiration of the restrictions on transfer set forth in Section 2.11 following the Initial Offering; 
 (ii) after the Company has effected two (2) registrations pursuant to this Section 2.2, and such registrations have been declared or ordered effective; 

(iii) during the period starting with the date of filing of, and ending on the date one hundred eighty (180) days following
the effective date of the registration statement pertaining to the Initial Offering (or such longer period as may be determined pursuant to Section 2.11 hereof); provided that the Company makes reasonable good faith efforts to cause such
registration statement to become effective; 
 (iv) if the anticipated aggregate offering price, net of underwriting
discounts and commission, would be less than $10,000,000; 
 (v) if within thirty (30) days of receipt of a written
request from Initiating Holders pursuant to Section 2.2(a), the Company gives notice to the Holders of the Company’s intention to file a registration statement for its Initial Offering within ninety (90) days; 

(vi) if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 2.2 a certificate
signed by the Chairman of the Board of Directors of the Company (sometimes referred to herein as the “Board”) stating that in the good faith judgment of the Board of Directors of the Company, it
would be detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than

  
 7 

 
ninety (90) days after receipt of the request of the Initiating Holders; provided that such right to delay a request shall be exercised by the Company not more than once in any twelve
(12) month period; 
 (vii) if the Initiating Holders propose to dispose of shares of Registrable Securities that
may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.4 below; or 
 (viii) in
any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance. 

2.3 Piggyback Registrations. The Company shall notify all Holders of Registrable Securities in writing at least fifteen
(15) days prior to the filing of any registration statement under the Securities Act for purposes of a public offering of securities of the Company (including, but not limited to, registration statements relating to secondary offerings of
securities of the Company, but excluding Special Registration Statements) and will afford each such Holder an opportunity to include in such registration statement all or part of such Registrable Securities held by such Holder. Each Holder desiring
to include in any such registration statement all or any part of the Registrable Securities held by it shall, within ten (10) days after the above-described notice from the Company, so notify the Company in writing. Such notice shall state the
intended method of disposition of the Registrable Securities by such Holder. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue
to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth
herein. 
 (a) Underwriting. If the registration statement of which the Company gives notice under this Section 2.3
is for an underwritten offering, the Company shall so advise the Holders of Registrable Securities. In such event, the right of any such Holder to include Registrable Securities in a registration pursuant to this Section 2.3 shall be
conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable Securities
through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company. Notwithstanding any other provision of this Agreement, if the underwriter
determines in good faith that marketing factors require a limitation of the number of shares to be underwritten, the number of shares that may be included in the underwriting shall be allocated, first, to the Company; second, to the Holders of
Series C Preferred on a pro rata basis based on the number of such securities held by all such Holders on an as converted to Common Stock basis (including the Initiating Holders); third to the Holders of Series B Preferred on a pro
rata basis based on the number of such securities held by all such Holders on an as converted to Common Stock basis (including the Initiating Holders); fourth to the Holders of Series A Preferred on a pro rata basis based on the number of
such securities held by all such Holders on an as converted to Common Stock basis (including the Initiating Holders); and fifth to any stockholder of the Company (other than a Holder) on a pro rata basis; provided, however, that

  
 8 

 
no such reduction shall reduce the amount of securities of the selling Holders included in the registration below thirty percent (30%) of the total amount of securities included in such
registration, unless such offering is the Initial Offering and such registration does not include shares of any other selling stockholders, in which event any or all of the Registrable Securities of the Holders may be excluded in accordance with the
immediately preceding clause. In no event will shares of any other selling stockholder be included in such registration that would reduce the number of shares which may be included by Holders without the written consent of Holders of not less than a
majority of the Registrable Securities proposed to be sold in the offering. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered
at least ten (10) business days prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For any Holder which is a
partnership, limited liability company or corporation, the partners, retired partners, members, retired members and stockholders of such Holder, or the estates and family members of any such partners, retired partners, members and retired members
and any trusts for the benefit of any of the foregoing person shall be deemed to be a single “Holder,” and any pro rata reduction with respect to such “Holder” shall be based upon the aggregate amount of shares carrying
registration rights owned by all entities and individuals included in such “Holder,” as defined in this sentence. 

(b) Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it
under this Section 2.3 whether or not any Holder has elected to include securities in such registration. The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof.

 2.4 Form S-3 Registration. In case the Company shall receive from any Holder or Holders of Registrable Securities a
written request or requests that the Company effect a registration on Form S-3 (or any successor to Form S-3) or any similar short-form registration statement and any related qualification or compliance with respect to all or a part of the
Registrable Securities owned by such Holder or Holders, the Company will: 
 (a) promptly give written notice of the
proposed registration, and any related qualification or compliance, to all other Holders of Registrable Securities; and 

(b) as soon as practicable, effect such registration and all such qualifications and compliances as may be so requested and as
would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other
Holder or Holders joining in such request as are specified in a written request given within ten (10) days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect
any such registration, qualification or compliance pursuant to this Section 2.4: 
 (i) if Form S-3 is not available for
such offering by the Holders, or 
 (ii) if the Holders, together with the holders of any other securities of the
Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public of less than two million dollars ($2,000,000), or 

  
 9 

 (iii) if within thirty (30) days of receipt of a written request from any
Holder or Holders pursuant to this Section 2.4, the Company gives notice to such Holder or Holders of the Company’s intention to make a public offering within ninety (90) days, other than pursuant to a Special Registration Statement,
or 
 (iv) if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors of
the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be detrimental to the Company and its stockholders for such Form S-3 registration to be effected at such time, in which event the Company shall
have the right to defer the filing of the Form S-3 registration statement for a period of not more than ninety (90) days after receipt of the request of the Holder or Holders under this Section 2.4; provided, that such right to
delay a request shall be exercised by the Company not more than once in any twelve (12) month period, or 
 (v) in
any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance. 

(c) Subject to the foregoing, the Company shall file a Form S-3 registration statement covering the Registrable Securities and
other securities so requested to be registered as soon as practicable after receipt of the requests of the Holders. Registrations effected pursuant to this Section 2.4 shall not be counted as demands for registration or registrations effected
pursuant to Section 2.2. 
 2.5 Expenses of Registration. Except as specifically provided herein, all Registration
Expenses incurred in connection with any registration, qualification or compliance pursuant to Section 2.2, 2.3 or 2.4 herein shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder, shall be
borne by the holders of the securities so registered pro rata on the basis of the number of shares so registered. The Company shall not, however, be required to pay for expenses of any registration proceeding begun pursuant to
Section 2.2 or 2.4, the request of which has been subsequently withdrawn by the Initiating Holders unless (a) the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware
at the time of such request or (b) the Holders of a majority of Registrable Securities agree to deem such registration to have been effected as of the date of such withdrawal for purposes of determining whether the Company shall be obligated
pursuant to Section 2.2(c) to undertake any subsequent registration, in which event such right shall be forfeited by all Holders. If the Holders are required to pay the Registration Expenses, such expenses shall be borne by the holders of
securities (including Registrable Securities) requesting such registration in proportion to the number of shares for which registration was requested. If the Company is required to pay the Registration Expenses of a withdrawn offering pursuant to
clause (a) above, then such registration shall not be deemed to have been effected for purposes of determining whether the Company shall be obligated pursuant to Section 2.2(c) to undertake any subsequent registration. 

  
 10 

 2.6 Obligations of the Company. Whenever required to effect the registration of any
Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a) prepare and file with the SEC
a registration statement with respect to such Registrable Securities and use all reasonable efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered
thereunder, keep such registration statement effective for up to one hundred and twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided however, that (i) such
one hundred and twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains from selling any securities included in such registration at the request of an underwriter of such Registrable Securities;
and (ii) in the case of any registration of Registrable Shares on Form S-3 which are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred and twenty (120) day period
shall be extended for up to ninety (90) days, if necessary, to keep the registration statement effective until the earlier of when all such Registrable Shares are sold or when such Holders are eligible to sell such Registrable Securities
pursuant to Rule 144 (or any similar rule then in effect); and before filing a registration statement or prospectus or any amendment or supplements thereto, furnish to the Holders and the underwriter or underwriters, if any, copies of all such
documents proposed to be filed, including documents incorporated by reference in the prospectus, which are not yet publicly available and, if requested by the Holders, the exhibits incorporated by reference, which are not yet publicly available, and
the Holders shall have the opportunity to object to any information pertaining to the Holders that is contained therein and the Company will make the corrections reasonably requested by the Holders with respect to such information prior to filing
any registration statement or amendment thereto or any prospectus or any supplement thereto; provided, however, that at any time, upon written notice to the participating Holders and for a period not to exceed sixty (60) days thereafter
(the “Suspension Period”), the Company may delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any registration statement (and the Initiating Holders hereby agree not to
offer or sell any Registrable Securities pursuant to such registration statement during the Suspension Period) if the Company reasonably believes that there is or may be in existence material nonpublic information or events involving the Company,
the failure of which to be disclosed in the prospectus included in the registration statement could result in a Violation (as defined below). In the event that the Company shall exercise its right to delay or suspend the filing or effectiveness of a
registration hereunder, the applicable time period during which the registration statement is to remain effective shall be extended by a period of time equal to the duration of the Suspension Period. The Company may extend the Suspension Period for
an additional consecutive sixty (60) days with the consent of the holders of a majority of the Registrable Securities registered under the applicable registration statement, which consent shall not be unreasonably withheld. No more than two
(2) such Suspension Periods shall occur in any twelve (12) month period. If so directed by the Company, all Holders registering shares under such registration statement shall (i) not offer to sell any Registrable Securities pursuant
to the registration statement during the period in which the delay or suspension is in effect after receiving notice of such delay or suspension; and (ii) use their reasonable best efforts to deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies then in such Holders’ possession, of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. Notwithstanding the foregoing, the Company shall
not be required to file, cause to become 

  
 11 

 
effective or maintain the effectiveness of any registration statement other than a registration statement on Form S-3 that contemplates a distribution of securities on a delayed or continuous
basis pursuant to Rule 415 under the Securities Act; 
 (b) prepare and file with the SEC such amendments and supplements
to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such
registration statement for the period set forth in subsection (a) above; 
 (c) furnish to the Holders such number of
copies of a prospectus, including a preliminary prospectus, and all amendments and supplements thereto, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the
disposition of Registrable Securities owned by them; 
 (d) use its best efforts to register and qualify the securities
covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided that the Company shall not be required in connection therewith or as a
condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions; 
 (e) in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of such
offering and take all such other customary actions as the Holders or the managing underwriters of such offering reasonably request in order to expedite or facilitate the disposition of the securities covered by such registration statement
(including, without limitation, making members of senior management of the Company available to participate in “road-show” and other customary marketing activities (including one-on-one meetings with prospective purchasers of the
securities)). Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement; 
 (f) notify each Holder of Registrable Securities covered by such registration statement and each underwriter and (if requested by any such person) confirm such notice in writing (i) when a
prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to a registration statement or any post-effective amendment, when the same has become effective, (ii) of the issuance by any state securities
or other regulatory authority of any order suspending the qualification or exemption from qualification of any of the Registrable Securities under state securities or Blue Sky laws or the initiation, or threatened initiation, of any proceedings for
that purpose, or (iii) at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in
effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company will use
reasonable best efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then existing; 

  
 12 

 (g) use its reasonable best efforts to furnish, on the date that such Registrable
Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter, dated as of such date, from the independent certified public accountants of the Company, in form and
substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters and covering such matters of the type customarily covered by opinions or comfort letters,
as the case may be, as the selling Holders, lead underwriters or managing underwriters reasonably request; 
 (h) to the
extent not prohibited by applicable law or pre-existing applicable contractual restrictions, (i) make available, for inspection by the Holders, any underwriter participating in any disposition pursuant to such registration statement, and any
attorney retained by any such underwriter, all financial and other records, pertinent corporate documents and properties of the Company, (ii) cause the Company’s officers and employees to supply all information reasonably requested by the
Holders or such underwriter or attorney in connection with such registration statement, and (iii) make the Company’s independent accountants available for any such underwriter’s due diligence; 

(i) cause all Registrable Securities to be listed on each securities exchange on which securities of the same class issued by the
Company are then listed or, if no such similar securities are then listed, on Nasdaq or a national securities exchange selected by the Company; 
 (j) provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such registration statement; 

(k) make generally available to its stockholders a consolidated earnings statement (which need not be audited) for the 12 months
beginning after the effective date of such registration statement as soon as reasonably practicable after the end of such period, which earnings statement shall satisfy the requirements of an earning statement under Section 11(a) of the
Securities Act; 
 (l) promptly respond to any and all comments received from the SEC, with a view towards causing the
registration statement or any amendment thereto to be declared effective by the SEC as soon as reasonably practicable and shall file an acceleration request as soon as reasonably practicable following the resolution or clearance of all SEC comments
or, if applicable, following notification by the SEC that any such registration statement or any amendment thereto will not be subject to review; 
 (m) at all times after the Company has filed a registration statement with the SEC pursuant to the requirements of the Securities Act, the Company shall use its commercially reasonable efforts to
file all reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder, and use its commercially reasonable efforts to take such further action as the Holders may
reasonably request, all to the extent required to enable the Holders to be eligible to sell Registrable Securities pursuant to Rule 144 (or any similar rule then in effect); 

  
 13 

 (n) promptly notify the Holders and the underwriter or underwriters, if any:

 (i) when the registration statement, any pre-effective amendment, the prospectus or any prospectus supplement or
post-effective amendment to the registration statement has been filed and, with respect to the registration statement or any post-effective amendment, when the same has become effective; 

(ii) of the notification to the Company by the SEC of its initiation of any proceeding with respect to the issuance by the SEC of
any stop order suspending the effectiveness of the registration statement; and 
 (iii) of the receipt by the Company of
any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction; 

(o) make such representations and warranties to the selling Holders of Registrable Securities and the underwriters as are
customarily made by issuers to selling stockholders and underwriters, as the case may be, in primary underwritten public offerings; 
 (p) use reasonable best efforts to prevent the issuance of any stop order suspending the effectiveness of such registration statement or of any order preventing or suspending the use of any
preliminary prospectus and, if any such order is issued, to obtain the lifting thereof at the earliest reasonable time; and 

(q) otherwise use its best efforts to comply with all applicable rules and regulations of the SEC. 

2.7 Delay of Registration; Furnishing Information. 
 (a) It shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 2.2, 2.3 or 2.4 that the selling Holders shall furnish to the Company such
information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Securities. 

(b) The Company shall have no obligation with respect to any registration requested pursuant to Section 2.2 or
Section 2.4 if the number of shares or the anticipated aggregate offering price of the Registrable Securities to be included in the registration does not equal or exceed the number of shares or the anticipated aggregate offering price required
to originally trigger the Company’s obligation to initiate such registration as specified in Section 2.2 or Section 2.4, whichever is applicable. 
 2.8 Indemnification. In the event any Registrable Securities are included in a registration statement under Sections 2.2, 2.3 or 2.4: 

(a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members, employees,
officers, stockholders and directors of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person,

  
 14 

 
if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they
may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively a “Violation”) by the Company: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement or incorporated by reference therein,
including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the
statements therein not misleading, (iii) any breach of this Agreement, or (iv) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under
the Securities Act, the Exchange Act or any state securities law in connection with the offering covered by such registration statement; and the Company will reimburse each such Holder, partner, member, employee, officer, stockholder, director,
underwriter or controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided however, that the indemnity agreement
contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably
withheld, nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written
information furnished to the Company (such written information strictly limited to the name and address of such Holder and the number of Registrable Securities included in the registration statement by such Holder) expressly for use in connection
with such registration by such Holder, partner, member, employee, officer, stockholder, director, underwriter or controlling person of such Holder. 
 (b) To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which such registration qualifications or compliance is
being effected, severally and not jointly, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who controls the Company within the meaning of the Securities Act, any underwriter and any other Holder
selling securities under such registration statement or any of such other Holder’s partners, directors or officers or any person who controls such Holder, against any losses, claims, damages or liabilities (joint or several) to which the
Company or any such director, employee, officer, controlling person, underwriter or other such Holder, or partner, director, officer or controlling person of such other Holder may become subject under the Securities Act, the Exchange Act or other
federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any of the following statements: (i) any untrue statement or alleged untrue statement of a material fact
contained in such registration statement or incorporated by reference therein, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act (collectively, a “Holder
Violation”), in each case to the extent (and only to the extent) that such Holder Violation occurs in reliance upon and in conformity with written information furnished to 

  
 15 

 
the Company by such Holder (such written information strictly limited to the name and address of such Holder and the number of Registrable Securities included in the registration statement by
such Holder) under an instrument duly executed by such Holder and stated to be specifically for use in connection with such registration; and each such Holder will reimburse any legal or other expenses reasonably incurred by the Company or any such
director, employee, officer, controlling person, underwriter or other Holder, or partner, officer, director or controlling person of such other Holder in connection with investigating or defending any such loss, claim, damage, liability or action if
it is judicially determined that there was such a Holder Violation; provided, however, that the indemnity agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability
or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; provided further, that in no event shall any indemnity under this Section 2.8 exceed the net proceeds from the
offering received by such Holder. 
 (c) Promptly after receipt by an indemnified party under this Section 2.8 of
notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.8, deliver to the indemnifying party a
written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense
thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses thereof to be paid by the indemnified party if representation
of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding, by
the indemnifying party. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this
Section 2.8 to the extent, and only to the extent, prejudicial to its ability to defend such action, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any
indemnified party otherwise than under this Section 2.8. 
 (d) If the indemnification provided for in this
Section 2.8 is required by its terms but is for any reason held by a court of competent jurisdiction to be unavailable to or otherwise insufficient to an indemnified party with respect to any losses, claims, damages or liabilities referred to
herein, then each applicable indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to the amount paid or payable by such indemnified party as a result of such loss,
claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the Violation(s) or Holder Violation(s) that
resulted in such loss, claim, damage or liability, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission; provided, that in no event shall any contribution by a Holder hereunder exceed the net proceeds from the offering received by such
Holder. 

  
 16 

 (e) The obligations of the Company and Holders under this Section 2.8 shall
survive completion of any offering of Registrable Securities in a registration statement and, with respect to liability arising from an offering to which this Section 2.8 would apply that is covered by a registration filed before termination of
this Agreement, such termination. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. 
 2.9 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Section 2 may be assigned by a Holder to a transferee or assignee of
Registrable Securities (for so long as such shares remain Registrable Securities) that (a) is a subsidiary, parent, general partner, limited partner, retired partner, member or retired member, of a Holder that is a corporation, partnership or
limited liability company, (b) is a Holder’s family member or trust for the benefit of an individual Holder, (c) is a transferee satisfying the criteria to be a Major Investor, (d) is an entity affiliated by common control (or
other related entity) with such Holder, or (e) is an entity having direct investment authority over such Holder; provided, however, (i) the transferor shall, within ten (10) days after such transfer, furnish to the Company
written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned and (ii) such transferee shall agree to be subject to all restrictions set forth in this
Agreement. 
 2.10 Limitation on Subsequent Registration Rights. Other than as provided in Section 5.10, after the
date of this Agreement, the Company shall not enter into any agreement with any holder or prospective holder of any securities of the Company that would grant such holder rights to demand the registration of shares of the Company’s capital
stock, or to include such shares in a registration statement that would reduce the number of shares includable by the Holders. 

2.11 “Market Stand-Off” Agreement. Each Holder hereby agrees that such Holder shall not sell, transfer, make any short
sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Common Stock (or other securities) of the Company held by such Holder (other than those included in the
registration) (i) during the 180-day period following the effective date of the Initial Offering (or such longer period, not to exceed eighteen (18) days after the expiration of the 180-day period, as the underwriters or the Company shall
request in order to facilitate compliance with FINRA Rule 2711), and (ii) the 90-day period following the effective date of a registration statement of the Company filed under the Securities Act (or such longer period, not to exceed eighteen
(18)days after the expiration of the 90-day period, as the underwriters or the Company shall request in order to facilitate compliance with FINRA Rule 2711); provided, that, with respect to (i) and (ii) above, all officers and directors of
the Company and holders of at least one percent (1%) of the Company’s voting securities are bound by and have entered into similar agreements. The obligations described in this Section 2.11 shall not apply to a registration relating
solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4 or similar forms that may be promulgated in the future. 

  
 17 

 2.12 Agreement to Furnish Information. Each Holder agrees to execute and deliver such
other agreements as may be reasonably requested by the Company or the underwriter that are consistent with the Holder’s obligations under Section 2.11 or that are necessary to give further effect thereto. In addition, if requested by the
Company or the representative of the underwriters of Common Stock (or other securities) of the Company, each Holder shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative
in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in Section 2.11 and this Section 2.12 shall not apply
to a Special Registration Statement. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said day period. Each Holder agrees that
any transferee of any shares of Registrable Securities shall be bound by Sections 2.11 and 2.12. The underwriters of the Company’s stock are intended third party beneficiaries of Sections 2.11 and 2.12 and shall have the right, power and
authority to enforce the provisions hereof as though they were a party hereto. 
 2.13 Rule 144 Reporting. With a view to
making available to the Holders the benefits of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without registration, the Company agrees to use its best efforts to: 

(a) make and keep public information available, as those terms are understood and defined in SEC Rule 144 or any similar or
analogous rule promulgated under the Securities Act, at all times after the effective date of the Initial Offering; 

(b) file with the SEC, in a timely manner, all reports and other documents required of the Company under the Exchange Act (at any
time after it has become subject to such reporting requirements) and take such further action as the Holders may reasonably request, all to the extent required from time to time to enable the Holders to sell securities of the Company without
registration; and 
 (c) so long as a Holder owns any Registrable Securities, furnish to such Holder forthwith upon
request: a written statement by the Company as to its compliance with the reporting requirements of said Rule 144 of the Securities Act, and of the Exchange Act (at any time after it has become subject to such reporting requirements); a copy of the
most recent annual or quarterly report of the Company filed with the Commission; and such other reports and documents as a Holder may reasonably request in connection with availing itself of any rule or regulation of the SEC allowing it to sell any
such securities without registration. 
 2.14 Termination of Registration Rights. The right of any Holder to request
registration or inclusion of Registrable Securities in any registration pursuant to Section 2.2, Section 2.3, or Section 2.4 shall terminate upon the earlier of: (i) the date three (3) years following an initial public
offering that results in the conversion of all outstanding Shares; or (ii) such time as the Company has completed its Initial Offering and all Registrable Securities of the Company issuable or issued upon conversion of the Shares held by and
issuable to such Holder (and its affiliates) may be sold pursuant to Rule 144 during any ninety (90) day period. Upon such termination, such shares shall cease to be “Registrable Securities” hereunder for all purposes. 

  
 18 

 SECTION 3. COVENANTS. 
 3.1 Basic Financial Information and Reporting. 
 (a) The Company
will maintain true books and records of account in which full and correct entries will be made of all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting
principles consistently applied (except as noted therein or as disclosed to the recipients thereof), and will set aside on its books all such proper accruals and reserves as shall be required under generally accepted accounting principles
consistently applied. 
 (b) As soon as practicable after the end of each fiscal year of the Company, and in any event
within ninety (90) days thereafter, the Company will furnish each Major Investor (and Amgen Inc., for so long as Amgen continues to hold at least 600,000 shares (as adjusted for stock splits, dividends, recapitalizations and the like following
the C-1 Closing) of Series A Preferred) a balance sheet of the Company, as at the end of such fiscal year, and a statement of income and a statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted
accounting principles consistently applied (except as noted therein or as disclosed to the recipients thereof) and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail. Such financial
statements shall be accompanied by a report and opinion thereon by independent public accountants selected by the Company’s Board of Directors. 
 (c) The Company will furnish each Major Investor (and Amgen Inc. for so long as Amgen continues to hold at least 600,000 shares (as adjusted for stock splits, dividends, recapitalizations and the
like following the C-1 Closing) of Series A Preferred), as soon as practicable after the end of the first, second and third quarterly accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days
thereafter, a balance sheet of the Company as of the end of each such quarterly period, and a statement of income and a statement of cash flows of the Company for such period and for the current fiscal year to date, prepared in accordance with
generally accepted accounting principles consistently applied (except as noted therein or as disclosed to the recipients thereof), with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been
made. 
 (d) So long as any Investor qualifies as a Major Investor, the Company will furnish each such Major Investor (and Amgen
Inc. for so long as Amgen continues to hold at least 600,000 shares (as adjusted for stock splits, dividends, recapitalizations and the like following the C-1 Closing) of Series A Preferred): (i) at least thirty (30) days prior to the
beginning of each fiscal year an annual budget and operating plans for such fiscal year (and as soon as available, any subsequent written revisions thereto); and (ii) as soon as practicable after the end of each month, and in any event within
twenty (20) days thereafter, a balance sheet of the Company as of the end of each such month, and a statement of income and a statement of cash flows of the Company for such month and for the current fiscal year to date, including a comparison
to plan figures for such period, prepared in accordance with generally accepted 

  
 19 

 
accounting principles consistently applied (except as noted thereon), with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made.

 3.2 Inspection Rights. Each Major Investor shall have the right to visit and inspect any of the properties of the
Company or any of its subsidiaries, and to discuss the affairs, finances and accounts of the Company or any of its subsidiaries with its officers, and to review such information as is reasonably requested all at such reasonable times and as often as
may be reasonably requested; provided, however, that the Company shall not be obligated under this Section 3.2 with respect to a competitor of the Company or with respect to information which the Board of Directors determines in good
faith that provision of such information to such Major Investor would result in significant competitive harm to the Company and should not, therefore, be disclosed. For the avoidance of doubt, Amgen Inc. and its affiliates shall not be considered
competitors of the Company for the purposes of this Section. 
 3.3 Confidentiality of Records. Each Investor agrees to
use the same degree of care as such Investor uses to protect its own confidential information to keep confidential any information furnished to such Investor pursuant to Section 3.1 and Section 3.2 that the Company identifies as being
confidential or proprietary (so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential information (i) to any partner, subsidiary or parent of such Investor as long as such
partner, subsidiary or parent is advised of and agrees or has agreed to be bound by the confidentiality provisions of this Section 3.3 or comparable restrictions; (ii) at such time as it enters the public domain through no fault of such
Investor; (iii) that is communicated to it free of any obligation of confidentiality; (iv) that is developed by Investor or its agents independently of and without reference to any confidential information communicated by the Company; or
(v) as required by applicable law. 
 3.4 Reservation of Common Stock. The Company will at all times reserve and
keep available, solely for issuance and delivery upon the conversion of the Preferred Stock, all Common Stock issuable from time to time upon such conversion. 
 3.5 Amendment to Plan. Concurrently with or promptly following the C-2 Closing, the Company and each Investor shall take such actions as are necessary to increase the available option pool
under the Company’s Amended and Restated 2007 Equity Incentive Plan to equal approximately ten and one-quarter percent (10.25%) of the Company’s fully diluted capitalization after giving effect to the issuance and sale of Series C
Preferred and the warrants exercisable for Series C Preferred pursuant to the Purchase Agreement. 
 3.6 Other Covenants.

 (a) The Company and the Investors shall take all actions necessary to amend the Restated Charter following the
Subsequent C-1 Closing to reduce the authorized number of shares of: 
 (i) Series A to equal the number of shares of
Series A outstanding immediately following the Subsequent C-1 Closing; 

  
 20 

 (ii) Series A-1 to equal the number of shares of Series A-1 outstanding immediately
following the Subsequent C-1 Closing; 
 (iii) Series B-1 to equal the number of shares of Series B-1 outstanding
immediately following the Subsequent C-1 Closing; 
 (iv) Series B-2 to equal the number of shares of Series B-2
outstanding plus the number of shares of Series B-1 issuable in accordance with warrants outstanding immediately following the Subsequent C-1 Closing; and 
 (v) Common Stock to equal the number of shares of Common Stock outstanding plus the number of shares of Common Stock required to be reserved for issuance upon conversion or exercise, as applicable,
of all of the shares of Series Preferred, warrants therefore and options outstanding, issuable, or available for grant after giving effect to the C-2 Closing in accordance with the Purchase Agreement. 

(b) The Company and the Investors shall take all actions necessary to amend the Restated Charter following the C-2 Closing to
reduce the authorized number of shares of: 
 (i) Series A to equal the number of shares of Series A outstanding
immediately following the C-2 Closing; 
 (ii) Series A-1 to equal the number of shares of Series A-1 outstanding
immediately following the C-2 Closing; 
 (iii) Series B-1 to equal the number of shares of Series B-1 outstanding
immediately following the C-2 Closing; and 
 (iv) Series B-2 to equal the number of shares of Series B-2 outstanding
plus the number of shares of Series B-1 issuable in accordance with warrants outstanding immediately following the C-2 Closing; 
 (v) Series C-1 to equal the number of shares of Series C-1 outstanding plus the number of shares of Series C-1 issuable in accordance with warrants outstanding immediately following the C-2
Closing; 
 (vi) Series C-2 to equal the number of shares of Series C-2 outstanding plus the number of shares of Series
C-2 issuable in accordance with warrants outstanding immediately following the C-2 Closing; and 
 (vii) Series C to
equal the number of shares of Series C outstanding immediately following the C-2 Closing. 
 3.7 Termination of
Covenants. All covenants of the Company contained in Section 3 (other than the provisions of Section 3.4) shall expire and terminate as to each Investor upon the earlier of (i) the effective date of the registration statement
pertaining to an Initial Offering or (ii) upon the consummation of an “Acquisition” or an “Asset Transfer”, as each as defined in and approved in accordance with the terms of the Restated Charter. 

  
 21 

 SECTION 4. RIGHTS OF FIRST REFUSAL. 

4.1 Subsequent Offerings. Subject to applicable securities laws, each Major Investor shall have a right of first refusal to
purchase its pro rata share of all Equity Securities, as defined below, that the Company may, from time to time, propose to sell and issue after the date of this Agreement, other than the Equity Securities excluded by Section 4.7. Each
Investor’s pro rata share is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issuable or issued upon conversion of the Shares or upon the exercise of
outstanding warrants or options) of which such Investor is deemed to be a holder immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company’s outstanding Common Stock (including all shares
of Common Stock issued or issuable upon conversion of the Shares or upon the exercise of any outstanding warrants or options) immediately prior to the issuance of the Equity Securities. The term “Equity Securities” shall mean
(i) any Common Stock, Preferred Stock or other security of the Company, (ii) any security convertible into or exercisable or exchangeable for, with or without consideration, any Common Stock, Preferred Stock or other security (including
any option to purchase such a convertible security), (iii) any security carrying any warrant or right to subscribe to or purchase any Common Stock, Preferred Stock or other security or (iv) any such warrant or right. 

4.2 Exercise of Rights. If the Company proposes to issue any Equity Securities, it shall give each Major Investor written notice
of its intention, describing the Equity Securities, the price and the terms and conditions upon which the Company proposes to issue the same. Each Major Investor shall have fifteen (15) days from the giving of such notice to agree to purchase
its pro rata share of the Equity Securities for the price and upon the terms and conditions specified in the notice by giving written notice to the Company and stating therein the quantity of Equity Securities to be purchased. Notwithstanding
the foregoing, the Company shall not be required to offer or sell such Equity Securities to any Major Investor who would cause the Company to be in violation of applicable federal securities laws by virtue of such offer or sale. 

4.3 Issuance of Equity Securities to Other Persons. If not all of the Major Investors elect to purchase their pro
rata share of the Equity Securities, then the Company shall promptly notify in writing the Major Investors who do so elect and shall offer such Major Investors the right to acquire such unsubscribed shares on a pro rata basis. The Major
Investors shall have ten (10) days after receipt of such notice to notify the Company of its election to purchase all or a portion thereof of the unsubscribed shares. The Company shall have ninety (90) days thereafter to sell the Equity
Securities in respect of which the Major Investor’s rights were not exercised, at a price and upon general terms and conditions not materially more favorable to the purchasers thereof than specified in the Company’s notice to the Major
Investors pursuant to Section 4.2. If the Company has not sold such Equity Securities within ninety (90) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities,
without first offering such securities to the Major Investors in the manner provided above. 
 4.4 Sale Without Notice.
In lieu of giving notice to the Major Investors prior to the issuance of Equity Securities as provided in Section 4.2, the Company may elect to give notice to the Major Investors within thirty (30) days after the issuance of Equity
Securities. Such notice 

  
 22 

 
shall describe the type, price and terms of the Equity Securities. Each Major Investor shall have twenty (20) days from the date of receipt of such notice to elect to purchase up to the
number of shares that would, if purchased by such Major Investor, maintain such Major Investor’s pro rata share (as set forth in Section 4.1) of the Company’s equity securities after giving effect to all such purchases. The
closing of such sale shall occur within sixty (60) days of the date of notice to the Major Investors. 
 4.5 Termination
and Waiver of Rights of First Refusal. The rights of first refusal established by this Section 4 shall not apply to, and shall terminate upon the earlier of (i) the effective date of the registration statement pertaining to the
Company’s Initial Offering, (ii) an Asset Transfer approved in accordance with the terms of the Restated Charter or (iii) an Acquisition approved in accordance with the terms of the Restated Charter. Notwithstanding Section 5.5,
the rights of first refusal established by this Section 4 may be amended, or any provision waived with and only with the written consent of the Company and the Major Investors holding a majority of the Registrable Securities held by all Major
Investors, or as permitted by Section 5.5. 
 4.6 Assignment of Rights of First Refusal. The rights of first refusal of
each Major Investor under this Section 4 may be assigned to the same parties, subject to the same restrictions as any transfer of registration rights pursuant to Section 2.9. 

4.7 Excluded Securities. The rights of first refusal established by this Section 4 shall have no application to any Equity
Securities that are excluded from the definition of “Additional Shares of Common Stock” as defined in the Company’s Restated Charter. 
 SECTION 5. MISCELLANEOUS. 
 5.1 Governing Law. This Agreement
shall be governed by and construed under the laws of the State of Delaware, without reference to conflicts of laws or 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 Santa Clara,
California. 
 5.2 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall
inure to the benefit of, and be binding upon, the parties hereto and their respective successors, assigns, heirs, executors, and administrators and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable
Securities from time to time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem
and treat the person listed as the holder of such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price. 

5.3 Entire Agreement. This Agreement, the Exhibits and Schedules hereto, the Purchase Agreement and the other documents delivered
pursuant thereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no 

  
 23 

 
party shall be liable or bound to any other in any manner by any oral or written representations, warranties, covenants and agreements except as specifically set forth herein and therein. Each
party expressly represents and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement. 
 5.4 Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality,
or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 

5.5 Amendment and Waiver. 
 (a) Except as otherwise expressly provided, this Agreement may be amended or modified, and the obligations of the Company and the rights of the Holders under this Agreement may be waived, only upon
the written consent of the Company and the Requisite Holders. 
 (b) For the purposes of determining the number of
Holders or Investors entitled to vote or exercise any rights hereunder, the Company shall be entitled to rely solely on the list of record holders of its stock as maintained by or on behalf of the Company. 

(c) Notwithstanding anything in this Section 5.5 to the contrary, any written instrument effecting an amendment, waiver,
discharge or termination of this Agreement that would (i) affect the rights of an Investor hereunder adversely and in a manner different from the other Investors, or (ii) impose any obligation to provide additional financing to the
Company, shall be effective with respect to an Investor only if it is signed by such Investor. In addition, to the extent that any change to any ownership threshold specified in this Agreement relating to any rights of any Investor under this
Agreement, or any new threshold relating to any rights of any Investor under this Agreement is imposed, which causes an Investor to lose such rights, then such change shall not be effective with respect to such Investor unless the written instrument
effecting such change is signed by such Investor. 
 5.6 Delays or Omissions. It is agreed that no delay or omission to
exercise any right, power, or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach,
default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or character on any party’s part of
any breach, default or noncompliance under the Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing.
All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative. 
 5.7 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 (if such party accepts notice via electronic mail) or facsimile if sent 

  
 24 

 
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 party to be notified at the
address as set forth on the signature pages hereof or EXHIBIT A hereto or at such other address or electronic mail address (if such party accepts notice via electronic mail) as such party may designate by ten (10) days
advance written notice to the other parties hereto. 
 5.8 Expenses. Except as otherwise provided for herein or
otherwise agreed to in writing by the parties, all costs and expenses incurred in connection with the preparation of this Agreement shall be paid by the Company. 
 5.9 Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

5.10 Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company shall issue additional shares
of its Preferred Stock pursuant to the Purchase Agreement, the Company shall cause any purchaser of such shares of Preferred Stock to become a party to this Agreement by executing and delivering an additional counterpart signature page to this
Agreement and shall be deemed an “Investor,” a “Holder” and a party hereunder. Notwithstanding anything to the contrary contained herein, if the Company shall issue Equity Securities described in
subsections (D), (E) or (G) of Article IV, Section (E)(5)(h)(v) of the Restated Charter, any purchaser of such Equity Securities may become a party to this Agreement by executing and delivering an additional counterpart signature page to
this Agreement and shall be deemed an “Investor,” a “Holder” and a party hereunder. 
 5.11 Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY. 
 5.12 Equitable Relief. The parties hereto agree that legal remedies
may be inadequate to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. If any party hereto or his heirs, personal
representatives, or assigns institutes any action or proceeding to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the claim or defense therein that such party or such personal
representative has an adequate remedy at law, and such person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists. 
 5.13 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 

5.14 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities or persons or persons or
entities under common management or control shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 

  
 25 

 5.15 Pronouns. All pronouns contained herein, and any variations thereof, shall be
deemed to refer to the masculine, feminine or neutral, singular or plural, as to the identity of the parties hereto may require. 
 5.16 Termination. Except with respect to Section 3.4, this Agreement shall terminate and be of no further force or effect upon the earlier of (i) an Acquisition or Asset Transfer approved
in accordance with the Restated Charter; or (ii) the date three (3) years following the Closing of the Initial Offering. 
 [THIS SPACE INTENTIONALLY LEFT BLANK] 

  
 26 

 IN WITNESS
WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT as of the date set forth in the first paragraph hereof. 
  

			
	COMPANY:
	
	RELYPSA, INC.
		
	By:	 	 /s/ Gerrit Klaerner, Ph.D.

		 	Gerrit Klaerner, Ph.D.
		 	President and Chief Operating Officer

			
		
	Address:	 	5301 Patrick Henry Drive
		 	Santa Clara, CA 95054

 IN WITNESS
WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT as of the date set forth in the first paragraph hereof. 
  

			
	INVESTORS:
	
	ORBIMED PRIVATE INVESTMENTS IV, LP
		
	By:	 	OrbiMed Capital GP IV LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Jonathan Silverstein

		 	Jonathan Silverstein
		 	General Partner

 IN WITNESS
WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT as of the date set forth in the first paragraph hereof. 
  

			
	INVESTORS:
	
	NEW LEAF VENTURES I, L.P.
		
	By:	 	New Leaf Venture Management I, L.P.
	Its:	 	General Partner
		
	By:	 	New Leaf Venture Management I, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ Vijay Lathi

		 	Vijay Lathi
		 	Managing Director
	
	SPROUT CAPITAL IX, L.P.
		
	By:	 	DLJ Capital Corporation
	Its:	 	Managing General Partner
		
	By:	 	 /s/ Vijay Lathi

		 	Vijay Lathi
		 	Attorney in Fact
	
	SPROUT ENTREPRENEURS FUND, L.P.
		
	By:	 	DLJ Capital Corporation
	Its:	 	General Partner
		
	By:	 	 /s/ Vijay Lathi

		 	Vijay Lathi
		 	Attorney in Fact

 IN WITNESS
WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT as of the date set forth in the first paragraph hereof. 
  

			
	INVESTORS:
	
	5AM VENTURES II, LP by its General Partner
	5AM CO-INVESTORS II, LP, by its General Partner
	
	5AM Partners II LLC
		
	By:	 	 /s/ Scott Rocklage

		 	Scott Rocklage
		 	Managing Member
	
	5AM VENTURES III, LP by its General Partner
	5AM CO-INVESTORS III, LP, by its General Partner
	
	5AM Partners III LLC
		
	By:	 	 /s/ Scott Rocklage

		 	Scott Rocklage
		 	Managing Member

 IN WITNESS WHEREOF, the parties hereto
have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof.

  

			
	DELPHI VENTURES VII, L.P.
	By:	 	Delphi Management Partners VII, LLC
		 	General Partner
		
	By:	 	 /s/ James J. Bochnowski

		 	James J. Bochnowski
		 	Managing Member
	
	DELPHI BIOINVESTMENTS VII, L.P.
	By:	 	Delphi Management Partners VII, LLC
		 	General Partner
		
	By:	 	 /s/ James J. Bochnowski

		 	James J. Bochnowski
		 	Managing Member

 IN WITNESS WHEREOF, the parties hereto
have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof.

  

			
	INVESTORS:
	
	MEDIPHASE VENTURE PARTNERS II LIMITED PARTNERSHIP
		
	By:	 	Mediphase II LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Paul A Howard

		 	Paul A. Howard
		 	Manager
	
	MEDIPHASE VENTURE PARTNERS (DP & UP) LIMITED PARTNERSHIP
		
	By:	 	Mediphase (DP & UP) LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Paul A. Howard

		 	Paul A. Howard
		 	Manager
	
	MEDIPHASE VENTURE PARTNERS II (SELECT FUND) LIMITED PARTNERSHIP
		
	By:	 	Mediphase II (Select Fund) LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Paul A. Howard

		 	Paul A. Howard
		 	Manager

 IN WITNESS WHEREOF, the parties hereto
have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof.

  

			
	INVESTORS:
	
	SIBLING CAPITAL FUND I, LLC
		
	By:	 	Sibling Capital LLC
	Its:	 	Manager
		
	By:	 	 /s/ Sandra I. Coufal, M.D.

		 	Sandra I. Coufal, M.D.
		 	President

 IN WITNESS WHEREOF, the parties hereto
have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof.

  

			
	INVESTORS:
	
	TRIPLEPOINT VENTURES LLC
		
	By:	 	 /s/ Sajal Srivastava

		 	Sajal Srivastava, Chief Operating Officer
	
	TRIPLEPOINT CAPITAL LLC
		
	By:	 	 /s/ Sajal Srivastava

		 	Sajal Srivastava, Chief Operating Officer

 IN WITNESS WHEREOF, the parties hereto
have executed this SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof.

  

			
	INVESTORS:
	
	SILICON VALLEY BANK
		
	Signature:	 	  

		
	Print Name:	 	  

		
	Title:	 	  

 SCHEDULE OF INVESTORS 

 

			
	 NAME AND ADDRESS
	 	 NAME AND ADDRESS

		
	 OrbiMed Private Investments IV, LP
 c/o OrbiMed Advisors, LLC
 601 Lexington Avenue, 54th Floor

New York, NY 10022
 Attn : Jonathan Silverstein
and David Bonita
	 	 Delphi Ventures VII, L.P.

Delphi BioInvestments VII, L.P.
 3000 Sand
Hill Road
 Building 1, Suite 135
 Menlo
Park, CA 94025
 Attn: Deepa Pakianathan, Ph.D.

		
	 5AM Ventures II, LP

5AM Co-Investors II, LP
 5AM Ventures
III, LP
 5AM Co-Investors III, LP
 2200 Sand Hill Road
 Suite 110
 Menlo Park, CA 94025
 Attn: Scott M. Rocklage, Ph.D.
	 	 TriplePoint Ventures, LLC 
 2755 Sand Hill Road, Suite 150
 Menlo Park, CA 94025

Attn: Sajal Srivastava, COO

		
	 New Leaf Ventures I, L.P.

Sprout Capital IX, L.P.
 Sprout
Entrepreneurs Fund, L.P. 
 2500 Sand Hill Road, Suite 203
 Menlo Park, CA 94025
 Attn: Ron Hunt and Vijay Lathi
	 	 Mediphase Venture Partners II Limited Partnership
 Mediphase Venture Partners II (Select Fund) Limited Partnership
 Mediphase Venture
Partners (DP & UP) Limited Partnership
 3 Newton Executive Park
 2223 Washington Street, Suite 102
 Newton, MA 02462

Attn: Paul Howard

			
	 Amgen Inc.
 One Amgen
Center Drive
 Thousand Oaks, CA 91320-1799
 Attn: Janis Naeve and Michael Mayes
	 	 Silicon Valley Bank

2400 Hanover Street
 Palo Alto, California
94304
 Attn: Jason Hughes

		
	 Sibling Capital Fund I, LLC
 c/o Sibling Capital LLC
 BioInnovation Center

1441 Canal Street, Suite 422
 New Orleans, LA
70112
 Attn: Sandra I. Coufal, M.D.,

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