Document:

EX-10.7

 Exhibit 10.7 
 AGIOS PHARMACEUTICALS, INC. 
 2013 EMPLOYEE STOCK PURCHASE PLAN 

June 15, 2013 
 The purpose of this Plan is to provide eligible employees of Agios Pharmaceuticals, Inc. (the “Company”) and certain of its subsidiaries with opportunities to purchase shares of the
Company’s common stock, $0.001 par value (the “Common Stock”), commencing at such time as the Board of Directors of the Company (the “Board”) shall determine. Subject to adjustment under Section 15 hereof, the number of
shares of Common Stock that have been approved for this purpose is the sum of: 
 (a) nine-hundred thousand
(900,000) shares of Common Stock; plus 
 (b) an annual increase to be added on the first day of each fiscal
year, commencing on January 1, 2014 and ending on December 31, 2023, equal to the lesser of (i) 1,400,000 shares of Common Stock, (ii) 1% of the outstanding shares on such date or (iii) an amount determined by the Board.

 This Plan is intended to qualify as an “employee stock purchase plan” as defined in Section 423 of the Internal Revenue Code
of 1986, as amended (the “Code”), and the regulations issued thereunder, and shall be interpreted consistent therewith. 
 1. Administration. The Plan will be administered by the Board or by a Committee appointed by the Board (the “Committee”). The Board or the Committee has authority to make rules and
regulations for the administration of the Plan and its interpretation and decisions with regard thereto shall be final and conclusive. 
 2. Eligibility. All employees of the Company and all employees of any subsidiary of the Company (as defined in Section 424(f) of the Code) designated by the Board or the Committee from time to
time (a “Designated Subsidiary”), are eligible to participate in any one or more of the offerings of Options (as defined in Section 9) to purchase Common Stock under the Plan provided that: 

(a) they are customarily employed by the Company or a Designated Subsidiary for more than 20 hours a week and for more
than five months in a calendar year; 
 (b) they have been employed by the Company or a Designated Subsidiary for
at least six (6) months prior to enrolling in the Plan; and 
 (c) they are employees of the Company or a
Designated Subsidiary on the first day of the applicable Plan Period (as defined below). 
 No employee may be granted an
Option hereunder if such employee, immediately after the Option is granted, owns 5% or more of the total combined voting power or value of the stock of the Company or any subsidiary. For purposes of the preceding sentence, the attribution
rules 

 
of Section 424(d) of the Code shall apply in determining the stock ownership of an employee, and all stock that the employee has a contractual right to purchase shall be treated as stock
owned by the employee. 
 The Company retains the discretion to determine which eligible employees may participate in an
offering pursuant to and consistent with Treasury Regulation Sections 1.423-2(e) and (f). 
 3. Offerings. The
Company will make one or more offerings (“Offerings”) to employees to purchase stock under this Plan. Offerings will begin at such time as the Board shall determine. Each Offering will consist of a six-month period (a “Plan
Period”) during which payroll deductions will be made and held for the purchase of Common Stock at the end of the Plan Period. The Board or the Committee may, at its discretion, choose a different Plan Period of not more than twelve (12)
months for Offerings. 
 4. Participation. An employee eligible on the first day of a Plan Period of any Offering may
participate in such Offering by completing and forwarding either a written or electronic payroll deduction authorization form to the employee’s appropriate payroll office at least 15 days prior to the commencement of the applicable Plan Period.
The form will authorize a regular payroll deduction from the Compensation received by the employee during the Plan Period. Unless an employee files a new form or withdraws from the Plan, his deductions and purchases will continue at the same
rate for future Offerings under the Plan as long as the Plan remains in effect. The term “Compensation” means the employee’s base salary reportable on the employee’s Federal Income Tax Withholding Statement but including overtime
and shift premium, and, in the case of salespersons, sales commissions to the extent determined by the Board or the Committee. 

5. Deductions. The Company will maintain payroll deduction accounts for all participating employees. With respect to any Offering
made under this Plan, an employee may authorize a payroll deduction in any percentage amount (in whole percentages) up to a maximum of 10.0% of the Compensation he or she receives during the Plan Period or such shorter period during which deductions
from payroll are made. The Board or the Committee may, at its discretion, designate a lower maximum contribution rate. The minimum payroll deduction is such percentage of Compensation as may be established from time to time by the Board or the
Committee. 
 6. Deduction Changes. An employee may decrease or discontinue his payroll deduction once during any Plan
Period, by filing either a written or electronic new payroll deduction authorization form. However, an employee may not increase his payroll deduction during a Plan Period. If an employee elects to discontinue his payroll deductions during
a Plan Period, but does not elect to withdraw his funds pursuant to Section 8 hereof, funds deducted prior to his election to discontinue will be applied to the purchase of Common Stock on the Exercise Date (as defined below). 

7. Interest. Interest will not be paid on any employee accounts, except to the extent that the Board or the Committee, in its sole
discretion, elects to credit employee accounts with interest at such rate as it may from time to time determine. 

  
 - 2 -

 8. Withdrawal of Funds. An employee may at any time prior to the close of business on
the fifteenth business day prior to the end of a Plan Period and for any reason permanently draw out the balance accumulated in the employee’s account and thereby withdraw from participation in an Offering. Partial withdrawals are not
permitted. The employee may not begin participation again during the remainder of the Plan Period during which the employee withdrew his or her balance. The employee may participate in any subsequent Offering in accordance with terms and conditions
established by the Board or the Committee. 
 9. Purchase of Shares. 

(a) Number of Shares. On the first day of each Plan Period, the Company will grant to each eligible employee who is then a
participant in the Plan an option (an “Option”) to purchase on the last business day of such Plan Period (the “Exercise Date”) at the applicable purchase price (the “Option Price”) up to that number of shares of Common
Stock (which may include fractional shares) determined by multiplying $2,083 by the number of full months in the Plan Period and dividing the result by the closing price (as determined below) on the first day of such Plan Period; provided, however,
that no employee may be granted an Option which permits his rights to purchase Common Stock under this Plan and any other employee stock purchase plan (as defined in Section 423(b) of the Code) of the Company and its subsidiaries, to accrue at
a rate which exceeds $25,000 of the fair market value of such Common Stock (determined at the date such Option is granted) for each calendar year in which the Option is outstanding at any time; and, provided, further, however, that the Committee
may, in its discretion, set a fixed maximum number of shares of Common Stock that each eligible employee may purchase per Plan Period which number may not be greater than the number of shares of Common Stock determined by using the formula in the
first clause of this Section 9(a) and which number shall be subject to the second clause of this Section 9(b). 
 (b)
Option Price. The Board or the Committee shall determine the Option Price for each Plan Period, including whether such Option Price shall be determined based on the lesser of the closing price of the Common Stock on (i) the first
business day of the Plan Period or (ii) the Exercise Date, or shall be based solely on the closing price of the Common Stock on the Exercise Date; provided, however, that such Option Price shall be at least 85% of the applicable closing price.
In the absence of a determination by the Board or the Committee, the Option Price will be 85% of the lesser of the closing price of the Common Stock on (i) the first business day of the Plan Period or (ii) the Exercise Date. The closing
price shall be (a) the closing price (for the primary trading session) on any national securities exchange on which the Common Stock is listed or (b) the average of the closing bid and asked prices in the over-the-counter-market, whichever
is applicable, as reported on the applicable stock exchange or trading market. If no sales of Common Stock were made on such a day, the price of the Common Stock shall be the reported price for prior day on which sales were made. 

(c) Exercise of Option. Each employee who continues to be a participant in the Plan on the Exercise Date shall be deemed to have
exercised his Option at the Option Price on such date and shall be deemed to have purchased from the Company the number of whole shares of Common Stock reserved for the purpose of the Plan that his accumulated payroll deductions on such date will
pay for, but not in excess of the maximum numbers determined in the manner set forth above. 
 (d) Return of Unused Payroll
Deductions. Any balance remaining in an employee’s payroll deduction account at the end of a Plan Period will be automatically refunded to the employee, except that any balance that is less than the purchase price of one share of Common
Stock will be carried forward into the employee’s payroll deduction account for the following Offering, unless the employee elects not to participate in the following Offering under the Plan, in which case the balance in the employee’s
account shall be refunded. 

  
 - 3 -

 10. Issuance of Certificates. Certificates representing shares of Common Stock
purchased under the Plan may be issued only in the name of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or (in the Company’s sole discretion) in the name of a brokerage
firm, bank, or other nominee holder designated by the employee. The Company may, in its sole discretion and in compliance with applicable laws, authorize the use of book entry registration of shares in lieu of issuing stock certificates. 

11. Rights on Retirement, Death or Termination of Employment. If a participating employee’s employment ends before the last
business day of a Plan Period, no payroll deduction shall be taken from any pay then due and owing to the employee and the balance in the employee’s account shall be paid to the employee. In the event of the employee’s death before the
last business day of a Plan Period, the Company shall, upon notification of such death, pay the balance of the employee’s account (a) to the executor or administrator of the employee’s estate or (b) if no such executor or
administrator has been appointed to the knowledge of the Company, to such other person(s) as the Company may, in its discretion, designate. If, before the last business day of the Plan Period, the Designated Subsidiary by which an employee is
employed ceases to be a subsidiary of the Company, or if the employee is transferred to a subsidiary of the Company that is not a Designated Subsidiary, the employee shall be deemed to have terminated employment for the purposes of this
Plan. 
 12. Optionees Not Stockholders. Neither the granting of an Option to an employee nor the deductions from
his or her pay shall make such employee a stockholder of the shares of Common Stock covered by an Option under this Plan until he or she has purchased and received such shares. 

13. Options Not Transferable. Options under this Plan are not transferable by a participating employee other than by will or the
laws of descent and distribution, and are exercisable during the employee’s lifetime only by the employee. 
 14.
Application of Funds. All funds received or held by the Company under this Plan may be combined with other corporate funds and may be used for any corporate purpose. 
 15. Adjustment for Changes in Common Stock and Certain Other Events. 
 (a)
Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend
or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under this Plan, (ii) the share limitations set forth in Section 9, and (iii) the Option Price
shall be equitably adjusted to the extent determined by the Board or the Committee. 

  
 - 4 -

 (b) Reorganization Events. 

(1) Definition. A “Reorganization Event” shall mean: (a) any merger or consolidation of the Company with or into
another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled, (b) any transfer or disposition of all of the Common Stock of
the Company for cash, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company. 
 (2) Consequences of a Reorganization Event on Options. In connection with a Reorganization Event, the Board or the Committee may take any one or more of the following actions as to outstanding
Options on such terms as the Board or the Committee determines: (i) provide that Options shall be assumed, or substantially equivalent Options shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof),
(ii) upon written notice to employees, provide that all outstanding Options will be terminated immediately prior to the consummation of such Reorganization Event and that all such outstanding Options will become exercisable to the extent of
accumulated payroll deductions as of a date specified by the Board or the Committee in such notice, which date shall not be less than ten (10) days preceding the effective date of the Reorganization Event, (iii) upon written notice to
employees, provide that all outstanding Options will be cancelled as of a date prior to the effective date of the Reorganization Event and that all accumulated payroll deductions will be returned to participating employees on such date, (iv) in
the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), change the last
day of the Plan Period to be the date of the consummation of the Reorganization Event and make or provide for a cash payment to each employee equal to (A) (1) the Acquisition Price times (2) the number of shares of Common Stock that the
employee’s accumulated payroll deductions as of immediately prior to the Reorganization Event could purchase at the Option Price, where the Acquisition Price is treated as the fair market value of the Common Stock on the last day of the
applicable Plan Period for purposes of determining the Option Price under Section 9(b) hereof, and where the number of shares that could be purchased is subject to the limitations set forth in Section 9(a), minus (B) the result of
multiplying such number of shares by such Option Price, (v) provide that, in connection with a liquidation or dissolution of the Company, Options shall convert into the right to receive liquidation proceeds (net of the Option Price thereof) and
(vi) any combination of the foregoing. 
 For purposes of clause (i) above, an Option shall be considered assumed if,
following consummation of the Reorganization Event, the Option confers the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the Reorganization Event, the consideration (whether cash,
securities or other property) received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of
consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration received as a result of the Reorganization Event is not solely common stock of the

  
 - 5 -

 
acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the
exercise of Options to consist solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof) that the Board determines to be equivalent in value (as of the date of such determination or another
date specified by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event. 
 16. Amendment of the Plan. The Board may at any time, and from time to time, amend or suspend this Plan or any portion thereof, except that (a) if the approval of any such amendment by the
shareholders of the Company is required by Section 423 of the Code, such amendment shall not be effected without such approval, and (b) in no event may any amendment be made that would cause the Plan to fail to comply with Section 423
of the Code. 
 17. Insufficient Shares. If the total number of shares of Common Stock specified in elections to be
purchased under any Offering plus the number of shares purchased under previous Offerings under this Plan exceeds the maximum number of shares issuable under this Plan, the Board or the Committee will allot the shares then available on a pro-rata
basis. 
 18. Termination of the Plan. This Plan may be terminated at any time by the Board. Upon termination of this
Plan all amounts in the accounts of participating employees shall be promptly refunded. 
 19. Governmental Regulations.
The Company’s obligation to sell and deliver Common Stock under this Plan is subject to listing on a national stock exchange (to the extent the Common Stock is then so listed or quoted) and the approval of all governmental authorities
required in connection with the authorization, issuance or sale of such stock. 
 20. Governing Law. The Plan shall be
governed by Delaware law except to the extent that such law is preempted by federal law. 
 21. Issuance of Shares.
Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source. 
 22. Notification upon Sale of Shares. Each employee agrees, by entering the Plan, to promptly give the Company notice of any disposition of shares purchased under the Plan where such disposition
occurs within two years after the date of grant of the Option pursuant to which such shares were purchased. 
 23. Grants to
Employees in Foreign Jurisdictions. The Company may, to comply with the laws of a foreign jurisdiction, grant Options to employees of the Company or a Designated Subsidiary who are citizens or residents of such foreign jurisdiction (without
regard to whether they are also citizens of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) with terms that are less favorable (but not more favorable) than the terms of Options granted under the
Plan to employees of the Company or a Designated Subsidiary who are resident in the United States. Notwithstanding the preceding provisions of this Plan, employees of the Company or a Designated Subsidiary who are citizens or residents of

  
 - 6 -

 
a foreign jurisdiction (without regard to whether they are also citizens of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded
from eligibility under the Plan if (a) the grant of an Option under the Plan to a citizen or resident of the foreign jurisdiction is prohibited under the laws of such jurisdiction or (b) compliance with the laws of the foreign jurisdiction
would cause the Plan to violate the requirements of Section 423 of the Code. The Company may add one or more appendices to this Plan describing the operation of the Plan in those foreign jurisdictions in which employees are excluded from
participation or granted less favorable Options. 
 24. Authorization of Sub-Plans. The Board may from time to time
establish one or more sub-plans under the Plan with respect to one or more Designated Subsidiaries, provided that such sub-plan complies with Section 423 of the Code. 
 25. Withholding. If applicable tax laws impose a tax withholding obligation, each affected employee shall, no later than the date of the event creating the tax liability, make provision
satisfactory to the Board for payment of any taxes required by law to be withheld in connection with any transaction related to Options granted to or shares acquired by such employee pursuant to the Plan. The Company may, to the extent permitted by
law, deduct any such taxes from any payment of any kind otherwise due to an employee. 
 26. Effective Date and Approval of
Shareholders. The Plan shall take effect on June 15, 2013 subject to approval by the shareholders of the Company as required by Section 423 of the Code, which approval must occur within twelve months of the adoption of the Plan by the
Board. 
  

	
	 Adopted by the Board of Directors

	
	 on June 15, 2013

	
	 Approved by the stockholders on

	              , 2013

  
 - 7 -EX-10.1

 Exhibit 10.1 
 AMENDMENT NO. ONE TO LOAN AND SECURITY AGREEMENT 
 THIS AMENDMENT NO. ONE TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made as of this 19th day of June, 2013, by and among KALOBIOS PHARMACEUTICALS, INC., a Delaware corporation
(“Borrower”), and MIDCAP FINANCIAL SBIC, LP, a Delaware limited partnership (as Agent for Lenders, “Agent”, and individually, as a Lender), and the other financial institutions or other entities from time to
time parties to the Loan Agreement referenced below, each as a Lender. 
 RECITALS 

A. Pursuant to that certain Loan and Security Agreement dated as of September 5, 2012 by and among Borrower, Agent and Lenders (as
amended hereby and as it may be further amended, modified and restated from time to time, the “Loan Agreement”), Agent and Lenders agreed to make available to Borrower a secured term loan in the original principal amount of
$15,000,000 (as amended, modified, supplemented, extended and restated from time to time, the “Term Loan”). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings set forth in the Loan Agreement.

 B. Borrower has requested that Agent and the Lenders amend certain provisions of the Loan Agreement, and Agent and Lenders
have agreed to do so, in accordance with the terms and subject to the conditions set forth herein. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Amendment, and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders and Borrower hereby agree as follows: 
 1. Recitals. This Amendment shall constitute a Loan Document and the Recitals set forth above shall be construed as part of this Amendment as if set forth fully in the body of this
Agreement. 
 2. Amendment to Loan Agreement. 

(a) Section 2.2(a) – Availability. Section 2.2(a) of the Loan Agreement is hereby amended and restated in its
entirety as follows: 
 (a) Availability. Subject to the terms and conditions of this Agreement, during
the Draw Period, the Lenders agree, severally and not jointly, to make one or more term loans to Borrower in an aggregate amount up to Fifteen Million Dollars ($15,000,000) according to each Lender’s Term Loan Commitment as set forth on
Schedule 1 hereto (such term loans are hereinafter referred to singly as a “Term Loan”, and collectively as the “Term Loans”). After repayment, no Term Loan may be re-borrowed. The Term Loans shall be
available in three (3) tranches. The first tranche (“Tranche One”) shall be in an amount not less than Five Million Dollars ($5,000,000), but not to exceed Ten 

 
Million Dollars ($10,000,000), and shall be advanced on the Closing Date. The second tranche (“Tranche Two”) shall be in an amount equal to Ten Million Dollars ($10,000,000) less
the amount advanced under Tranche One, and shall be available to be advanced in a single advance during the Draw Period. The Third Tranche (“Tranche Three”) shall be in amount equal to Five Million Dollars ($5,000,000) and shall be
available in a single advance during the Draw Period. Notwithstanding anything set forth herein to the contrary, it is understood and agreed that Borrower is required to draw not less than Fifteen Million Dollars ($15,000,000) on or prior to the
Draw Period Termination Date. Subject to the terms and conditions set forth in Section 12.1, Borrower may not assign its right to request the Term Loans. 
 (b) Section 2.2(b) – Interest Payments and Repayment. Section 2.2(b) of the Loan Agreement is hereby amended and restated in its entirety as follows: 

(b) Interest Payments and Repayment. Commencing on the first (1st) Payment Date following the Funding Date of Tranche One, of
Tranche Two and Tranche Three, respectively, and continuing on the Payment Date of each successive month thereafter through and including the Maturity Date, Borrower shall make monthly payments of interest to Agent, for payment to each Lender in
accordance with its respective Pro Rata Share, in arrears, and calculated as set forth in Section 2.3. Commencing on the Amortization Date, and continuing on the Payment Date of each successive month thereafter through and including the
Maturity Date, Borrower shall make consecutive monthly payments of principal to Agent, for payment to each Lender in accordance with its respective Pro Rata Share, as calculated by Agent based upon: (i) the amount of such Lender’s Term
Loans and (ii) a straight-line amortization schedule for each Credit Extension (other than under Tranche Three) beginning on the Amortization Date and ending on the Maturity Date. Notwithstanding the preceding sentence, the payments of
principal for Tranche Three shall commence on the Tranche Three Amortization Date and shall be calculated based on a straight-line amortization schedule beginning on the Tranche Three Amortization Date and ending on the Maturity Date. All unpaid
principal and accrued interest with respect to the Term Loans is due and payable in full on the Maturity Date. The Term Loans may be prepaid only in accordance with Sections 2.2(c) and 2.2(d). 

(c) Section 14—Definitions. 
 (i) The definitions of “Draw Period Termination Date” and “Warrants” in Section 14 of the Loan Agreement are hereby amended and restated in their entirety as follows: 

“Draw Period Termination Date” means May 30, 2014. 

“Warrants” means those certain Warrants to Purchase Stock now or hereafter executed by Borrower in favor
of each Lender or such Lender’s Affiliates. 

  
 2 

 (ii) The following term and definition are hereby added in alphabetical order to
Section 14 of the Loan Agreement as follows: 
 “Tranche Three Amortization Date” means
that date which is the later of (i) first Payment Date following the Funding Date of Tranche Three or (ii) the Amortization Date. 
 (d) Exhibit E-1 – Warrants. Exhibit E-1 attached hereto is hereby added to the Loan Agreement as Exhibit E-1 thereto. 

3. Confirmation of Representations and Warranties; Reaffirmation of Security Interest. Borrower hereby (a) confirms
that all of the representations and warranties set forth in the Loan Agreement are true and correct with respect to Borrower as of the date hereof, and (b) covenants to perform its respective obligations under the Loan Agreement. Borrower
confirms and agrees that all security interests and Liens granted to Agent continue in full force and effect, and all Collateral remains free and clear of any Liens, other than those granted to Agent and Permitted Liens. Nothing herein is intended
to impair or limit the validity, priority or extent of Agent’s security interests in and Liens on the Collateral. 
 4.
Enforceability. This Amendment constitutes the legal, valid and binding obligation of Borrower, and is enforceable against Borrower in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy,
insolvency or other similar laws relating to the enforcement of creditors’ rights generally and by general equitable principles. 
 5. Costs and Fees. Borrower shall be responsible for the payment of all reasonable costs and fees of Agent’s counsel incurred in connection with the preparation of this Amendment and
any related documents. If Agent or any Lender uses in-house counsel for any of these purposes, Borrower further agrees that the Obligations include reasonable charges for such work commensurate with the fees that would otherwise be charged by
outside legal counsel selected by Agent or such Lender for the work performed. Borrower hereby authorizes Agent to deduct all of such fees set forth in this Section 5 from the proceeds of one or more Term Loans made under the Loan Agreement.

 6. Conditions to Effectiveness. This Amendment shall become effective as of the date on which each of the
following conditions has been satisfied (the “Effective Date”): 
 (a) Borrower shall have delivered to Agent
this Amendment, duly executed by an authorized officer of Borrower; 
 (b) Borrower has duly authorized and issued to Lenders
warrants, the form of which is attached hereto as Exhibit E-1 (collectively, the “2013 Warrants”), evidencing Lenders’ (or their respective affiliates or designees) right to acquire their respective Pro Rata Share of the
class of stock of Borrower, on the terms and conditions set forth in the 2013 Warrants, as necessary to comply with the requirements of the Loan Documents. 
 (c) all representations and warranties of Borrower contained herein shall be true and correct in all material respects as of the Effective Date (and such parties’ delivery of their respective
signatures hereto shall be deemed to be its certification thereof); 

  
 3 

 (d) the secretary of Borrower shall have delivered to Agent a duly executed secretary’s
and incumbency certificate identifying the current officers of Borrower who are duly authorized by Borrower’s board of directors to execute and deliver this Amendment and any related documents, together with resolutions of the governing board
or body of Borrower authorizing the transactions contemplated by this Amendment and the issuance of the Warrant; and 
 (e)
Agent shall have received from Borrower of all of the fees owing pursuant to this Amendment and Agent’s reasonable out-of-pocket legal fees and expenses. 
 7. No Waiver or Novation. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a waiver of any right, power or
remedy of Agent, nor constitute a waiver of any provision of the Loan Agreement, the Loan Documents or any other documents, instruments and agreements executed or delivered in connection with any of the foregoing. Nothing herein is intended or shall
be construed as a waiver of any existing Defaults or Events of Default under the Loan Agreement or other Loan Documents or any of Agent’s rights and remedies in respect of such Defaults or Events of Default. This Amendment (together with any
other document executed in connection herewith) is not intended to be, nor shall it be construed as, a novation of the Loan Agreement. 
 8. Affirmation. Except as specifically amended pursuant to the terms hereof, the Loan Agreement and all other Loan Documents (and all covenants, terms, conditions and agreements therein)
shall remain in full force and effect, and are hereby ratified and confirmed in all respects by Borrower. Borrower covenants and agrees to comply with all of the terms, covenants and conditions of the Loan Agreement (as amended hereby) and the Loan
Documents, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions on Agent’s or any Lender’s part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants
and conditions. 
 9. Confidentiality. Borrower will not disclose the contents of this Amendment, the Loan
Agreement or any of the other Loan Documents to any third party (including, without limitation, any financial institution or intermediary) without Agent’s prior written consent, other than to Borrower’s officers and advisors on a
need-to-know basis. Borrower agrees to inform all such persons who receive information concerning this Amendment, the Loan Agreement and the other Loan Documents that such information is confidential and may not be disclosed to any other Person.

 10. Miscellaneous. 
 (a) Reference to the Effect on the Loan Agreement. Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,”
“herein,” or words of similar import shall mean and be a reference to the Loan Agreement, as amended by this Amendment. Except as specifically amended above, the Loan Agreement, and all other Loan Documents (and all covenants, terms,
conditions and agreements therein), shall remain in full force and effect, and are hereby ratified and confirmed in all respects by Borrower. 

  
 4 

 (b) Incorporation of Loan Agreement Provisions. The provisions contained in
Section 12.2 (Indemnification), Section 11 (Choice of Law, Venue and Jury Trial Waiver) and Section 12.9 (Waiver of Jury Trial) of the Loan Agreement are incorporated herein by reference to the same extent as if reproduced herein in
their entirety. 
 (c) Headings. Section headings in this Amendment are included for convenience of reference only and
shall not constitute a part of this Amendment for any other purpose. 
 (d) Counterparts. This Amendment may be signed in
any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Signatures by facsimile or by electronic mail delivery of an electronic version (e.g., .pdf
or .tif file) of an executed signature page shall be treated as delivery of an original and shall bind the parties hereto. This Amendment constitutes the entire agreement and understanding among the parties hereto and supersede any and all prior
agreements and understandings, oral or written, relating to the subject matter hereof. 
 [SIGNATURES APPEAR ON FOLLOWING PAGES]

  
 5 

 IN WITNESS WHEREOF, intending to be legally bound, and intending that this document
constitute an agreement executed under seal, the undersigned have executed this Amendment under seal as of the day and year first hereinabove set forth. 
  

									
	BORROWER:	 		 	 KALOBIOS PHARMACEUTICALS, INC.

					
		 		 		 	By:	 	 /s/ David Pritchard

		 		 		 	 Name: David Pritchard

		 		 		 	 Title: CEO

					
	AGENT:	 		 		 		 	
			
		 		 	 MIDCAP FINANCIAL SBIC, LP,

		 		 	 as Agent for Lenders

				
		 		 	By:	 	 Midcap Financial SBIC GP, LLC

					
		 		 		 	By:	 	 /s/ Luis Viera

		 		 		 	 Name: Luis Viera

		 		 		 	Title: Managing Director
			
	LENDERS:	 		 	
			
		 		 	 MIDCAP FINANCIAL SBIC, LP 

				
		 		 	By:	 	 Midcap Financial SBIC GP, LLC

					
		 		 		 	By:	 	 /s/ Luis Viera

		 		 		 	 Name: Luis Viera

		 		 		 	 Title: Managing Director

		 		 		 		 	

 [Signature Page to Amendment No. 1 to Loan and Security Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]