Document:

EX-10.15

 Exhibit 10.15 
 CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. 
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AMENDED AND RESTATED LICENSE AGREEMENT 
 This Amended and Restated License Agreement (this “Agreement”) is effective as of January 7, 2013 (the “Effective Date”), and is restated as of June 10, 2013, by and
between BIND Biosciences, Inc., a Delaware corporation (“BIND”), and Amgen Inc., a Delaware corporation (“Amgen”). BIND and Amgen are sometimes hereinafter referred to each as a “Party” and collectively as the
“Parties.” 
 WHEREAS, BIND has been engaged in the development of AccurinsTM based on
BIND’s Medicinal Nanoengineering® technology, and owns and otherwise controls patent rights and know-how
with respect thereto; 
 WHEREAS, Amgen has specialized experience in, among other things, development and commercialization of
pharmaceutical products; 
 WHEREAS, Amgen desires to collaborate with BIND in the research of Product Candidates combining an
AccurinTM with its Amgen Drug Candidate as the basis to develop novel nanomedicines; 
 WHEREAS, Amgen desires to receive
from BIND an option to obtain an exclusive license under certain of BIND’s intellectual property rights in order to research, develop and commercialize Product Candidates and Licensed Products; 

WHEREAS, BIND and Amgen entered into a certain License Agreement, dated as of the Effective Date (the “Prior License
Agreement”), pursuant to which Amgen and BIND agreed to collaborate in the research of Product Candidates combining an AccurinTM with Amgen’s Amgen Drug Candidate as the basis to develop novel nanomedicines and BIND granted to Amgen an
option to obtain an exclusive license under certain of BIND’s intellectual property rights in order to research, develop and commercialize Product Candidates and Licensed Products; and 

WHEREAS, Amgen and BIND desire to amend the Prior License Agreement to make certain changes thereto. 

NOW, THEREFORE, in consideration of the mutual covenants and obligations set forth herein, the Parties hereby agree that the Prior
License Agreement is amended and restated in its entirety to read as follows: 
 Section 1. Definitions. 

For the purpose of this Agreement, the following words and phrases (and their correlatives) will have the meanings set forth below:

 1.1 “AccurinTM” means a targeted nanoparticle incorporating or otherwise based on BIND Background Technology
with one or more active ingredients, including, for example, the Amgen Drug Candidate. 
 1.2 “Affiliate” of an entity
or person means any other entity or person which (directly or indirectly) is controlled by, controls or is under common control with such entity or person. For the purposes of this definition, the term “control” (including, with
correlative meanings, the terms “controlled by” and “under common control with”) as used with respect to an entity means (i) in the case of a corporate entity, direct or indirect ownership of voting securities
entitled to cast at least fifty percent (50%) of the votes in the election of directors or (ii) in the case of a non-corporate entity, direct or indirect ownership of at least fifty percent (50%) of the equity interests with the power
to direct the management and policies of such entity. 
 1.3 “Amgen Background Know-How” means Know-How Controlled by
Amgen or any of its Affiliates during the Design/Preclinical Collaboration Term that (i) is necessary [***] for research related to Product Candidates, (ii) Amgen chooses to make available under this Agreement, or (iii) is required
for BIND to perform its obligations under the Design/Preclinical Collaboration. 
  

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 1.4 “Amgen Background Technology” means the Amgen
Background Know-How and the Amgen Background Patents. 
 1.5 “Amgen Background Patents” means Patents Controlled by
Amgen or any of its Affiliates during the Design/Preclinical Collaboration Term that (i) are necessary [***] for research related to Product Candidates, (ii) Amgen chooses to make available under this Agreement, or (iii) are required
for BIND to perform its obligations under the Design/Preclinical Collaboration, but excluding Amgen Program IP. As of the Effective Date, the Amgen Background Patents include those listed on Exhibit 1.5. 

1.6 “Amgen Drug Candidate” means [***]. 
 1.7 “Amgen Regulatory Data” means (i) Clinical Data for Licensed Candidates and Licensed Products, and (ii) other data submitted by Amgen and its Affiliates and Sublicensees for
Licensed Candidates and Licensed Products to a Regulatory Authority. 
 1.8 “BIND Background Know-How” means Know-How
Controlled by BIND or any of its Affiliates during the Design/Preclinical Collaboration Term that is necessary [***] (i) to research and Develop Product Candidates during the Design/Preclinical Collaboration Term, or (ii) to Develop,
Manufacture or Commercialize Licensed Candidates or Licensed Products in the Field during the Term, but excluding BIND Program IP. 
 1.9 “BIND Background Patents” means Patents Controlled by BIND or any of its Affiliates during the Design/Preclinical Collaboration Term that (i) are necessary [***] for research related to
Product Candidates, or (ii) are necessary or reasonably useful to Develop, Manufacture or Commercialize Licensed Candidates or Licensed Products in the Field during the Term, but excluding BIND Program IP. 

1.10 “BIND Background Technology” means the BIND Background Know-How and the BIND Background Patents. 

1.11 “BIND Regulatory Data” means (i) Clinical Data for AccurinsTM (and pharmaceutical compositions and preparations
thereof), other than Licensed Candidates and Licensed Products, and (ii) other data submitted by BIND and its Affiliates and Third Party licensees for AccurinTM-containing molecules (and pharmaceutical compositions and preparations thereof)
to a Regulatory Authority, other than Licensed Candidates or Licensed Products. 
 1.12 “BIND Third Party License
Agreements” means each of (i) the MIT License Agreement, (ii) the JHU License Agreement and (iii) the Selecta Cross-License Agreement. 
 1.13 “Brigham” means the Brigham and Women’s Hospital. 
 1.14
“Bundle” means any Licensed Product sold together with another pharmaceutical product for a single price. For clarity, combination products (i.e., two active pharmaceutical compounds combined into one compound) shall not be considered a
Bundle. 
 1.15 “Change of Control” means for BIND that (i) BIND will have become an Affiliate of an entity that
is a Drug Company, (ii) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of BIND will have occurred to a Drug Company, or (iii) any Drug Company
(whether individually or as part of a group) will have become the owner, directly or indirectly, of voting securities entitled to cast more than fifty percent (50%) of the votes in the election of directors of BIND. For purposes of this
definition, “Drug Company” means any entity that conducts any research, development or commercialization activities, or that manufactures, supplies, promotes, markets, distributes, sells or resells any products, in the biotechnology or
pharmaceutical industry. 
  

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 1.16 “Clinical Data” means all information made, collected or otherwise
generated under or in connection with clinical studies, including any clinical study reports, toxicology reports, development plans, clinical study plans, data and results with respect to any of the foregoing, or data from other human use that is
submitted to Regulatory Authorities. 
 1.17 “Commercially Reasonable Efforts” means that the level of efforts to be
expended by a Party under this Agreement with respect to the research, design, Development, Manufacture or Commercialization of Product Candidates and Licensed Products will be consistent with the level of reasonable, diligent, good faith efforts
and resources that would normally be used by such Party (whether acting alone or through its Affiliates) for a pharmaceutical product owned by such Party (or to which such Party otherwise has rights) of similar commercial potential at a similar
stage in its lifecycle, and taking into account issues of safety and efficacy, product profile, the patent and other proprietary position of the product, the then current competitive environment for such product, the likelihood of receipt of
Regulatory Approval, the likely timing of such product’s entry into the market, the regulatory environment, and other relevant scientific, technical and commercial factors. 

1.18 “Commercialization” means activities directed to obtaining pricing and reimbursement approvals, carrying out post-approval
clinical studies, marketing, promoting, distributing, importing, exporting, offering for sale or selling a Licensed Product. 

1.19 “Confidentiality Agreement” means that certain confidential disclosure agreement between the Parties dated July 24,
2012. 
 1.20 “Controlled” or “Controls” means, with respect to any Know-How, Materials, Patents or other
intellectual property or other rights, the possession (whether by ownership or (sub)license or other right, other than by a (sub)license or other right granted pursuant to this Agreement) by a Party of the ability to grant (or to ensure that its
Affiliates grant) to the other Party the licenses, sublicensees or rights to access and use such Know-How, Materials, Patents or other intellectual property or other rights, without requiring the payment of any royalties or other consideration
(other than pursuant to the BIND Third Party License Agreements) or violating the terms of any agreement or other arrangement with any Third Party in existence as of the time such Party or its Affiliates would be required hereunder to grant such
license, sublicense, or rights of access and use. For avoidance of doubt, to the extent that a Party Controls intellectual property rights on a non-exclusive basis, and grants exclusive rights to such intellectual property rights to the other Party
in this Agreement, such grant shall be exclusive as between the Parties, and the fact that rights are retained by a Third Party outside of this Agreement, or that additional rights under such intellectual property may be granted by such Third Party
to other Third Parties outside of this Agreement, shall not constitute a breach of such exclusive grant by the relevant Party in this Agreement. 
 1.21 “Design/Preclinical Collaboration” means (i) research and preclinical Development activities of Product Candidates to be conducted by or on behalf of the Parties during the
Design/Preclinical Collaboration Term in accordance with the Design/Preclinical Collaboration Plan, and (ii) other activities that may be undertaken by or on behalf of a Party with respect to the research or Development of Product Candidates
during the Design/Preclinical Collaboration Term. 
 1.22 “Development” means non-clinical and clinical drug
development activities reasonably related to the development and submission of information to a Regulatory Authority in the Field for Licensed Candidates and Licensed Products, including toxicology, pharmacology and other discovery and pre-clinical
efforts, statistical analysis, and clinical studies (other than post-approval clinical studies). 
 1.23
“Development & Commercialization Program” means the program of Development and Commercialization activities to be undertaken by and on behalf of Amgen for Licensed Candidates and

  

					
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Licensed Products. For clarity, the Development & Commercialization Program will not include activities conducted under the Design/Preclinical Collaboration or relating to Manufacturing,
and all Development and Commercialization activities related to Licensed Candidates and Licensed Products undertaken by or on behalf of Amgen or any of its Affiliates or Sublicensees will be considered as part of the Development &
Commercialization Program. 
 1.24 “FDA” means the U.S. Food and Drug Administration and any successor agency thereto.

 1.25 “FFDCA” means the U.S. Food, Drug, and Cosmetic Act, as amended or replaced. 

1.26 “Field” means (a) with respect to Product Candidates and Licensed Products that are covered by a claim within the
Selecta Patents, all uses within the “BIND Field” as that term is defined in the Selecta Cross-License Agreement, and (b) with respect to all other Product Candidates and Licensed Products, all uses. 

1.27 “First Commercial Sale” means, with respect to a Licensed Product on a country-by-country basis, the first sale for use by
the general public of such Licensed Product in such country after marketing, pricing and reimbursement approvals of such Licensed Product has been granted or permitted by the applicable Regulatory Authority of such country. 

1.28 “FTE” means 1880 hours of work time over a period of twelve (12) consecutive calendar months. The portion of an FTE
year devoted by a full-time employee will be determined by dividing (i) the number of hours that such individual devoted to performance of such activities during any given twelve (12) month period by (ii) 1880. 

1.29 “FTE Rate” means an amount equal to [***] U.S. dollars [***] for one (1) full FTE, which represents the fully
burdened rate for each such FTE and includes related salary, benefits, administration, facilities costs and overhead. 
 1.30
“GAAP” means the then-current generally accepted accounting principles in the United States as established by the Financial Accounting Standards Board or any successor entity or other entity generally recognized as having the right to
establish such principles in the United States, in each case consistently applied. 
 1.31 “Generic Product” means a
product that is materially the same as a Licensed Product, including that it comprises a targeted nanoparticle incorporating or otherwise based upon the BIND Background Technology and the Amgen Drug Candidate, and that it is sold under regulatory
approval, license, registration or authorization of any Regulatory Authority necessary in order to commercially distribute, sell or market such generic product in such country, and such regulatory approval, license, registration or authorization was
obtained in a manner that materially relied on, referenced or incorporated human clinical data submitted by Amgen or its Affiliates in connection with obtaining Regulatory Approval for a Licensed Product in such country. 

1.32 “GIST” means the Gwangju Institute of Science & Technology. 

1.33 “GLP Toxicology Studies” means toxicology studies, conducted on a Licensed Candidate in accordance with GLP, that are
intended to assess the onset, severity, and duration of toxic effects of the Licensed Candidate, their dose dependency and degree of reversibility (or irreversibility). 
 1.34 “Good Laboratory Practice” or “GLPs” means the applicable then-current standards for laboratory activities for pharmaceuticals or biological, as applicable, as set forth in the
FFDCA, 21 U.S.C. §§ 301 et seq., and any regulations or guidance documents promulgated thereunder (as amended), together with any similar standards of good laboratory practice as are required by any Regulatory Authority in the Territory,
as applicable. 
  

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 1.35 “IND” means an Investigational New Drug application or similar
application or submission for approval to conduct human clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirements of such Regulatory Authority. 

1.36 “Indication” means any disease or condition. For clarity, a distinct form of cancer (eg, breast cancer) shall be
considered a separate Indication from other distinct forms of cancer (eg, ovarian cancer), provided that, distinct patient populations within a disease or condition shall not be considered separate Indications. 

1.37 “JHU” means The Johns Hopkins University. 
 1.38 “JHU License Agreement” means the Exclusive License Agreement between JHU and BIND, effective as of February 17, 2009, as such agreement may be amended or restated in a manner not
materially inconsistent with the rights thereunder granted to Amgen hereunder. 
 1.39 “JHU Patents” means those
Patents in-licensed by BIND pursuant to the JHU License Agreement necessary or useful (i) to research and Develop Product Candidates during the Design/Preclinical Collaboration Term, and (ii) to Develop, Manufacture or Commercialize
Licensed Candidates or Licensed Products in the Field during the Term. 
 1.40 “Know-How” means commercial, technical,
scientific and other know-how and information, inventions, discoveries, improvements, trade secrets, knowledge, technology, methods, processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical
assistance, designs, drawings, assembly procedures, computer programs, specifications, data and results (including biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety,
manufacturing and quality control data and know-how, including study designs and protocols); in all cases, whether or not confidential, proprietary, patented or patentable, in written, electronic or any other form, now known or hereafter developed.

 1.41 “Licensed Candidate” means a Product Candidate for which Amgen has exercised the option pursuant
to Section 4.1. 
 1.42 “Licensed Product” means any pharmaceutical product containing a Licensed Candidate
(alone or with other active ingredients), in all forms, presentations, formulations and dosage forms. 
 1.43 “Major Market
Country” means each of the United States, Canada, United Kingdom, Germany, France, Italy, Spain, Brazil, China and India. 

1.44 “Manufacture” means activities related to the production, manufacture, processing, filling, finishing, packaging,
labeling, shipping, warehousing, and holding of Licensed Candidates and Licensed Products for Development and Commercialization, including process development, process qualification and validation, test method development, delivery system
development, scale-up, pre-clinical, clinical and commercial manufacture and analytic development, product characterization, stability testing, formulation, quality assurance and quality control. 

1.45 “Materials” means any tangible chemical or biological research materials that are provided or otherwise made available by
one Party to the other Party under the terms of Section 2.2(c) for use in performance of the Design/Preclinical Collaboration (including samples of nanoparticles, cells, proteins, tissue samples, animals, together with any components,
derivatives or progeny thereof); provided, however, that Materials will not include any Product Candidates or Licensed Products. 
 1.46 “MIT” means the Massachusetts Institute of Technology. 
 1.47
“MIT License Agreement” means the Exclusive Patent License Agreement, by and between MIT and BIND, effective as of June 30, 2007, as such agreement may be amended or restated in a manner not materially inconsistent with the rights
thereunder granted to Amgen hereunder. 

  

					
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 1.48 “MIT Patents” means those Patents in-licensed by BIND pursuant to the
MIT License Agreement necessary or useful (i) to research and Develop Product Candidates during the Design/Preclinical Collaboration Term, and (ii) to Develop, Manufacture or Commercialize Licensed Candidates or Licensed Products in the
Field during the Term. 
 1.49 “NDA” means a New Drug Application filed with the FDA (including amendments and
supplements thereto) to obtain Regulatory Approval in the U.S., or any corresponding applications or submissions filed with the relevant Regulatory Authorities to obtain Regulatory Approvals in any other country or region in the Territory.

 1.50 “Net Sales” means the gross amount invoiced in arms-length transactions by Amgen and its Affiliates and
Sublicensees for the sale or distribution of Licensed Products to Third Parties, less: [***]. 
 No deduction will be made for any item of cost
incurred by Amgen or any of its Affiliates or Sublicensees in Developing or Commercializing any Licensed Products except as permitted pursuant to clauses (a) to (e) of the foregoing sentence, but nothing herein will prevent or be deemed to
prevent Amgen or its Affiliates or Sublicensees from distributing or invoicing Licensed Product at a discounted price for shipments to Third Parties in connection with clinical studies, compassionate sales or an indigent program in which Amgen or
its Affiliate or Sublicensee agrees to forego a normal profit margin for good faith business reasons not related to the marketing, promotion or sale of products other than the Licensed Product. 

Where a Licensed Product is sold in a Bundle, then for the purposes of calculating Net Sales under this Agreement, such Licensed Product will be deemed
to be sold for an amount equal to [X ÷ (X + Y)] × Z, where: X is the average sales price during the applicable reporting period generally achieved for such dosage form of such Licensed Product; Y is the sum of the average sales price
during the applicable reporting period generally achieved, when sold alone, by each pharmaceutical product in the relevant dosage form included in the Bundle (excluding such Licensed Product); and Z equals the price at which the Bundle was actually
sold. In the event that such Licensed Product or one or more of the other pharmaceutical products in the Bundle are not sold separately in the relevant dosage form, Net Sales from the sale of such Bundle will be reasonably allocated between such
Licensed Product and the other product(s) in such Bundle based upon their relative values and the Parties will determine the equitable fair market prices to apply to such Bundle; provided, that in the event of a disagreement with respect to such
relative values, the Parties will engage a mutually agreed upon independent expert to make the final determination with respect thereto. Notwithstanding the foregoing, no Licensed Product will be sold in a Bundle if such sale would violate
applicable law. 
 Licensed Product will be considered “sold” hereunder as determined in accordance with GAAP. Such amounts will be
determined from the books and records of the person or entity that invoiced the Third Party, maintained in accordance with GAAP. Amgen’s or any of its Affiliates’ or Sublicensees’ transfer of Licensed Product between each other will
not result in any Net Sales, unless such Licensed Product is consumed in the course of Commercialization. Non-monetary consideration shall not be accepted by Amgen, any Affiliate, or any Sublicensee for any Licensed Products without the prior
written consent of BIND. 
 1.51 “Patent” means patents and patent applications in the Territory (which for purposes
of this Agreement will include certificates of invention and applications for such certificates), including any divisionals, continuations, continuations-in-part, substitutions, reissues, re-examinations, revalidations, patent term extensions,
pediatric exclusivity extensions, registrations, supplementary protection certificates and renewals of any such patents or patent applications, together with foreign equivalents of any of the foregoing, that claim or cover any Materials, Product
Candidates, or Licensed Products, or Development, Manufacture, Commercialization or use thereof. 
  

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 1.52 “Patent Costs” means the out-of-pocket costs and expenses paid to legal
counsel and other Third Parties (including Third Party licensors of any Patents, such as MIT), and filing and maintenance expenses, incurred in Prosecuting and Maintaining Patents and enforcing and defending them. 

1.53 “Phase 1 Study” means a clinical trial of a Licensed Candidate or Licensed Product, the principal purpose of which is a
determination of safety, as described in 21 C.F.R. 312.21(a) (as amended or replaced), including any exploratory IND studies, or a similar clinical study prescribed by a Regulatory Authority in a foreign country or region. 

1.54 “Phase 2 Study” means a clinical trial of a Licensed Candidate or Licensed Product, the principal purpose of which is a
determination of safety and an assessment of its efficacy in the target patient population, as described in 21 C.F.R. 312.21(b) (as amended or replaced), or a similar clinical study prescribed by a Regulatory Authority in a foreign country or
region. 
 1.55 “Phase 2(a) Study” means a Phase 2 Study that is not a Phase 2(b) Study. 

1.56 “Phase 2(b) Study” means a Phase 2 Study that is a randomized study. 

1.57 “Phase 3 Study” means a clinical trial of a Licensed Candidate or Licensed Product on a sufficient number of subjects that
is designed to establish that a pharmaceutical product is safe and efficacious for its intended use, as described in 21 C.F.R. 312.211 (as amended or replaced), or a similar clinical study prescribed by a Regulatory Authority in a foreign country or
region. 
 1.58 “Product Candidate” means a drug candidate evaluated as part of the Design/Preclinical Collaboration
that comprises an AccurinTM having the Amgen Drug Candidate and optionally a targeting ligand and other components. For clarity, (i) the term “Product Candidate” includes Licensed Candidates; and (ii) any molecular changes to
a Product Candidate, including a change to the Amgen Drug Candidate or the targeting ligand, will constitute a separate Product Candidate. 
 1.59 “Program IP” means Know-How and Materials, plus all Patents arising therefrom, created or conceived in connection with the activities performed pursuant to the Design/Preclinical
Collaboration Plan (whether solely by one Party or jointly by the Parties, in each case optionally with their Affiliates or any (sub)licensees, subcontractors or any other Third Parties or any employees, consultants or agents of any of the
foregoing). 
 1.60 “Prosecution and Maintenance” means in relation to any Patents, (i) to prepare and file
Patent applications, including re-examinations or re-issues thereof, and represent applicants or assignees before relevant patent offices or other relevant governmental authorities during examination, re-examination and re-issue thereof, in appeal
processes and interferences, or any equivalent proceedings, (ii) to defend all such applications against Third Party oppositions, (iii) to secure the grant of any Patents arising from such Patent application, (iv) to maintain in force
any issued Patent (including through payment of any relevant maintenance fees), and (v) to make all decisions with regard to any of the foregoing activities. 
 1.61 “Regulatory Authority” means any national (e.g., the FDA), supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity,
in any jurisdiction in the world, regulating or otherwise exercising authority with respect to the development or commercialization of a Product Candidate or Licensed Product in the applicable jurisdiction, including the granting of Regulatory
Approval with respect thereto. 
 1.62 “Regulatory Approval” means, with respect to a country or region in the
Territory, approvals, licenses, registrations or authorizations from the relevant Regulatory Authority necessary in order to import, distribute, market and sell a pharmaceutical product in such country or region, but not including any pricing or
reimbursement approvals. 
 1.63 “Regulatory Documentation” means all applications for clinical studies and Regulatory
Approvals, all registrations, licenses, authorizations and approvals (including all Regulatory Approvals), 

  

					
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all correspondence submitted to or received from Regulatory Authorities (including minutes and official contact reports relating to any communications with any Regulatory Authority), and all
Clinical Data and other data submitted to Regulatory Authorities, in each case for a particular product, including all Drug Application Approvals, regulatory drug lists, advertising and promotion documents, drug master files, adverse event files and
complaint files for such product. 
 1.64 “Selecta Cross-License Agreement” means the Patent Cross-License Agreement
between Selecta Biosciences, Inc. and BIND, effective as of December 18, 2008, as such agreement may be amended or restated in a manner not materially inconsistent with the rights thereunder granted to Amgen hereunder. 

1.65 “Selecta Patents” means the Selecta Licensed Patents (as defined in the Selecta Cross-License Agreement) in-licensed by
BIND pursuant to the Selecta Cross-License Agreement necessary or useful (i) to research and Develop Product Candidates during the Design/Preclinical Collaboration Term, and (ii) to Develop, Manufacture or Commercialize Licensed Candidates
or Licensed Products in the Field during the Term. 
 1.66 “Sublicensee” means an Affiliate of Amgen or a Third Party
that is granted a sublicense by Amgen in accordance with Section 8.4(b). 
 1.67 “Territory” means worldwide.

 1.68 “Third Party” means any person or entity other than Amgen, BIND or their respective Affiliates. 

1.69 “Valid Claim” means (i) any claim of an issued and unexpired Patent that (a) has not been held permanently
revoked, unenforceable or invalid by a decision of a court or governmental agency of competent jurisdiction, which decision is unappealable or unappealed within the time allowed for appeal and (b) has not been abandoned, disclaimed, denied or
admitted to be invalid or unenforceable through reissue or disclaimer or otherwise, or (ii) a claim of a Patent application that has been filed within eighteen months of the expiration of the Design/Preclinical Collaboration Term and which has
been pending for no longer than ten years, which claim has not been abandoned or finally disallowed without the possibility of appeal or re-filing on the application. 
 Definitions for each of the following terms are found in the body of this Agreement as indicated below: 
  

			
	 Defined Term
	  	 Location

	 AccurinTM Class Specific Data
	  	 Section 8.3(a)

	 Affected Party
	  	 Section 15.2(d)

	 Alliance Manager
	  	 Section 3.2(f)

	 Amgen
	  	 Preamble

	 Amgen Core IP
	  	 Section 10.2(a)

	 Amgen Indemnitees
	  	 Section 14.6(c)

	 Amgen Option Period
	  	 Section 4.1

	 Amgen Option Notice
	  	 Section 4.1

	 Amgen Program IP
	  	 Section 10.2(b)

	 Associates or Associate
	  	 Section 8.7(c)

	 Bankruptcy Event
	  	 Section 15.2(d)

	 BIND
	  	 Preamble

	 BIND Core IP
	  	 Section 10.2(a)

	 BIND Indemnitees
	  	 Section 14.6(a)

	 BIND License Option Notice
	  	 Section 4.2

	 BIND Program IP
	  	 Section 10.2(c)(i)

  

					
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	 Defined Term
	  	 Location

	 Claim
	  	 Section 14.6(d)

	 Competitive Infringement
	  	 Section 12.1

	 Confidential Information
	  	 Section 13.1(a)

	 Design/Preclinical Collaboration Plan
	  	 Section 2.1

	 Design/Preclinical Collaboration Term
	  	 Section 2.1

	 Disclosing Party
	  	 Section 13.1(a)

	 Effective Date
	  	 Preamble

	 Exclusivity Lapse Period
	  	 Section 9.6(b)

	 Extended Exclusivity Notice
	  	 Section 7.2

	 Extended Exclusivity Period
	  	 Section 7.2

	 First Product Candidate or Licensed Product
	  	 Section 9.3

	 Indemnitee
	  	 Section 14.6(d)

	 Indemnitor
	  	 Section 14.6(d)

	 Initial Exclusivity Period
	  	 Section 7.1

	 Issuing Party
	  	 Section 13.2(b)

	 JRC
	  	 Section 3.2

	 Joint Program IP
	  	 Section 10.2(c)(i)

	 Losses
	  	 Section 14.6(a)

	 Milestone Bearing Product Candidate or Licensed Product
	  	 Section 9.3

	 Option Fee
	  	 Section 9.2

	 Party or Parties
	  	 Preamble

	 Product Candidate Claim
	  	 Section 10.2(a)

	 Product Specific Patent
	  	 Section 11.1(c)

	 Program Lead
	  	 Section 3.1

	 Receiving Party
	  	 Section 13.1(a)

	 Release
	  	 Section 13.2(b)

	 Reviewing Party
	  	 Section 13.2(b)

	 Second Product Candidate or Licensed Product
	  	 Section 9.3

	 Skipped Milestone Event
	  	 Section 9.3

	 Sole Program IP
	  	 Section 10.2(c)

	 Term
	  	 Section 15.1

 Section 2. Design/Preclinical Collaboration Phase. 

2.1 Conduct of the Design/Preclinical Collaboration. 
 (a) The Parties will conduct the Design/Preclinical Collaboration on the terms and conditions set forth in this Agreement to research and preclinically Develop Product Candidates. The Design/Preclinical
Collaboration will be undertaken and performed during the period beginning on the Effective Date and ending on the earlier of (i) [***] after completion of the last experiment in Design/Preclinical Collaboration Plan or (ii) [***] after
Effective Date, unless earlier terminated as provided in this Agreement (the “Design/Preclinical Collaboration Term”). The Design/Preclinical Collaboration Term may be extended only by mutual written agreement of the Parties.

  

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 (b) The research and preclinical Development activities to be undertaken and performed
by the Parties in connection with the Design/Preclinical Collaboration are set forth in a detailed plan agreed in writing by the Parties (the “Design/Preclinical Collaboration Plan”). Any modifications or amendments to the
Design/Preclinical Collaboration Plan that are proposed by either Party will be subject to review and prior written approval by the JRC pursuant to and in accordance with the terms of Section 3.2(e). 

(c) Amgen will use Commercially Reasonable Efforts to undertake and perform its obligations as set forth in the Design/Preclinical
Collaboration Plan using appropriate personnel and resources. BIND will use Commercially Reasonable Efforts to undertake and perform its obligations as set forth in the Design/Preclinical Collaboration Plan as well as any other activities that it
has agreed to undertake under this Agreement using appropriate personnel and resources. The Parties will work together to coordinate their efforts in performing their respective responsibilities under the Agreement. Except as expressly set forth in
Section 9.7 (or as may otherwise be agreed by the Parties in writing), each of BIND and Amgen is and will remain solely responsible for all of the out-of-pocket and internal costs and expenses that are incurred by or on its behalf in connection
with the performance of the Design/Preclinical Collaboration Plan. 
 2.2 Design/Preclinical Collaboration Records, Reports
and Materials. 
 (a) Each Party will maintain, or cause to be maintained, records of its activities and results achieved
under the Design/Preclinical Collaboration Plan in sufficient detail and in good scientific manner appropriate for scientific, patent and regulatory purposes, which will properly reflect all work included in the Design/Preclinical Collaboration. All
such records will be maintained in manner consistent with (i) applicable law relating to similar documentation used to obtain and maintain Regulatory Approvals in the United States, and (ii) such Party’s applicable internal policies
and procedures. 
 (b) During the Design/Preclinical Collaboration Term and for the next calendar quarter thereafter, each Party
will furnish to the JRC a summary written report, within thirty (30) days after the end of each calendar quarter, describing the status and progress of its performance under the Design/Preclinical Collaboration Plan and any other work conducted
by or on its behalf as part of the Design/Preclinical Collaboration. 
 (c) If samples of Materials are provided during the
Design/Preclinical Collaboration Term, the Party receiving such Materials will only use the Materials in accordance with the Design/Preclinical Collaboration Plan (or as may otherwise be permitted under the terms and conditions of this Agreement).
The Party receiving such Materials will not distribute or otherwise allow the release of Materials to any Third Party without the prior written consent of the supplying Party (which consent will not be unreasonably withheld). Materials made
available to the receiving Party (and any derivatives or progeny thereof) are and will remain the sole property of the supplying Party and will be used in compliance with all applicable law. The Party supplying such Materials will provide the other
Party together with the Materials any available information related to the safe and proper storage and handling of the Materials. The Party supplying such Materials hereby represents and warrants that it has the right and authority to provide and
make available such Materials to the other Party for use as contemplated hereunder. 
 2.3 Subcontractors. Either Party
may subcontract any of its activities for the Design/Preclinical Collaboration to a Third Party, provided that any such Third Party must have entered into a written agreement with such Party that includes terms and conditions protecting and limiting
use and disclosure of Confidential Information and Know-How at least to the same extent as under this Agreement, and requiring the Third Party and its personnel to assign to such Party all right, title and interest in and to any intellectual
property (and intellectual property rights) created or conceived in connection with performance of subcontracted activities. Each Party is responsible for compliance by such Third Party with the applicable terms and conditions of this Agreement.

  

					
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 Section 3. Relationship Management. 

3.1 Program Leads. On or as soon as practicable after the Effective Date (but in all cases prior to the first meeting of the JRC),
each of BIND and Amgen will designate one of its individual employees to serve as that Party’s lead and primary point of contact for matters related to the coordination of Design/Preclinical Collaboration activities and such other activities
that require coordination between the Parties (such as manufacturing related activities) (each, a “Program Lead”). The Program Leads will also serve as co-chairpersons of the JRC with responsibility for generating JRC meeting
schedules and agendas and other administrative matters related to the conduct of JRC meetings, but will not have any decision-making authority. A Party will have the right to change its Program Lead and designate a different one of its individual
employees to serve as that Party’s Program Lead by providing written notice thereof the other Party. 
 3.2 Joint
Research Committee. 
 (a) On or as soon as practicable after the Effective Date, the Parties will establish a Joint
Research Committee, comprised of the two (2) Program Leads, two (2) additional representatives of BIND from its CMC and preclinical development groups, and two (2) additional representatives of Amgen from its CMC and preclinical
development groups (the “JRC”). Each Party may replace any of its representatives on the JRC at any time upon written notice to the other Party. 
 (b) A Party may invite others of its or its Affiliates’ employees to attend and participate in relevant portions of meetings of the JRC as necessary to facilitate the sharing of information and
discussion of any issues related to the Design/Preclinical Collaboration Plan, performance of the Design/Preclinical Collaboration and performance of the Development & Commercialization Program. A Party will notify the other Party’s
Program Lead in writing if it wishes to invite a Third Party consultant or subcontractor to attend a JRC meeting. Any such notice will be provided at least five (5) business days prior to the relevant JRC meeting, will identify the Third Party
consultant or subcontractor, and will briefly describe the reasons the requesting Party wishes to include such individual at the meeting. The attendance and participation of any such Third Party consultant or subcontractor will be subject to the
prior written consent of the other Party (which consent will not be unreasonably withheld). Any such consent will be conditioned upon the following: (i) the Third Party consultant or subcontractor is bound by written obligations of
confidentiality and non-use to the requesting Party that are consistent with the provisions of this Agreement; and (ii) the Third Party consultant or subcontractor enters into a suitable confidentiality and non-use agreement with the consenting
Party. 
 (c) The JRC will meet during the Term at least quarterly, or as otherwise agreed, at such times as are agreed to by
the JRC members. Such meetings may be in-person, via videoconference, or via teleconference; provided that such meetings will be conducted in person at least once during the Design/Preclinical Collaboration Term unless otherwise agreed to by the
Parties. Meetings of the JRC will be effective only if at least one (1) representative of each Party is present or participating. Each Party will be responsible for all of its own costs and expenses of participating in the JRC meetings.
BIND’s Program Lead will be responsible for chairing the JRC’s first meetings, and such responsibility will thereafter alternate between Amgen’s Program Lead and BIND’s Program Lead during the remainder of the Design/Preclinical
Collaboration Term. The Parties may elect to maintain minutes of JRC meetings, in which case the Program Leads will also be responsible for generating, circulating and obtaining approval of such minutes. The JRC will cease to exist upon the
expiration of the Design/Preclinical Collaboration Term or such earlier time as the Parties may mutually agree. 
 (d) The JRC
will be responsible for monitoring and coordinating the performance of the Design/Preclinical Collaboration in accordance with the Design/Preclinical Collaboration Plan. Specific JRC responsibilities will include the following: 

(i) Periodic review of the Parties’ efforts and progress under the Design/Preclinical Collaboration Plan; 

  

					
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 (ii) Review and approval of any proposed
modifications or amendments to the Design/Preclinical Collaboration Plan; 
 (iii) Prioritization and oversight
of execution of specific activities to be performed under the Design/Preclinical Collaboration Plan; 
 (iv)
Review and evaluation of Product Candidates for which pre-clinical Development work should be performed as part of the Design/Preclinical Collaboration; 
 (v) Recommendation of possible Licensed Candidates pursuant to Section 4; and 
 (vi) Serving as a forum for the Parties to discuss any issues arising with respect to the conduct or results of the Design/Preclinical Collaboration. 

(e) Any decisions by the JRC will be made by consensus of all JRC members in attendance at the applicable JRC meeting, with each of Amgen
and BIND having one (1) vote. If the JRC cannot reach consensus on a matter, then, after due consideration of the input from BIND, Amgen will have final decision-making authority; provided, however, that Amgen will not have the right to
unilaterally modify or amend the Design/Preclinical Collaboration Plan to the extent that it would impose upon BIND significant changes in the hours, spending, resources or commitment of BIND. The Parties acknowledge and agree that the JRC will not
have the power or authority to amend or modify any of the terms of this Agreement or to waive any Party’s rights or obligations hereunder. 
 (f) Promptly after the Effective Date, each Party will appoint a person who will oversee interactions between the Parties between meetings of the JRC (each, an “Alliance Manager”). The Alliance
Managers will have the right to attend all meetings of the JRC, as non-voting participants at such meetings. Each Party may in its sole discretion replace its Alliance Manager at any time by notice in writing to the other Party. 

Section 4. Options. 

4.1 Amgen Option for Licensed Candidates. For the period commencing at the Effective Date and ending [***] (the “Amgen
Option Period”), Amgen will have the exclusive option to obtain the (sub)licenses described in Section 8.1 and Section 8.2 for the Product Candidates tested by the Parties during the Design/Preclinical Collaboration. During the Amgen
Option Period, Amgen may notify BIND in writing (the “Amgen Option Notice”) in the event that a Product Candidate is selected by Amgen to be a Licensed Candidate hereunder. For clarity, upon receipt of an Amgen Option Notice, all
Product Candidates will become Licensed Candidates hereunder (effective upon payment to BIND of the Option Fee for Licensed Candidates as set forth in Section 9.2). 
 4.2 BIND Option for Licensed Candidates. In the event Amgen does not exercise its option with respect to at least one Product Candidate during the Amgen Option Period pursuant to Section 4.1,
BIND will have the exclusive option to take (sub)licenses to all Amgen Background Technology and Amgen Program IP Controlled by Amgen as may be necessary for BIND to Develop, Manufacture and Commercialize (including to research, develop, make, have
made, use, sell, offer for sale, import and otherwise exploit) any AccurinTM with the Amgen Drug Candidate independently or under a sublicense to a Third Party in the Territory in the Field. BIND may notify Amgen in writing (the “BIND
License Option Notice”) in the event that BIND exercises its option under this Section 4.2. Upon receipt of the BIND License Option Notice, the Parties will negotiate in good faith to enter into a license agreement on terms to be mutually
agreed upon by the Parties; provided that the Parties agree that (i) the milestone payments to be paid by BIND to Amgen under such license agreement shall be equal to the payment set 
  
  

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forth in Section 9.3; (ii) the royalty rates to be paid by BIND to Amgen under such license agreement shall be equal to the royalty rates set forth in Section 9.4; and
(iii) the restrictions on sublicensing are the same as set forth in Section 8.4(b). 
 Section 5. Development and
Commercialization of Licensed Candidates and Licensed Products. 
 5.1 Development & Commercialization
Program. 
 (a) Following the (sub)license of one or more Licensed Candidates by Amgen in accordance with Section 4.1,
Amgen will be solely responsible for designing and performing all aspects of the Development & Commercialization Program, and Amgen will have sole responsibility for all costs and expenses arising therefrom. Amgen will have final
decision-making authority with respect to the design and conduct of the Development & Commercialization Program. 
 (b)
To the extent that BIND has, during the Design/Preclinical Collaboration Term provided or otherwise made available to Amgen any Materials for use in performance of the Design/Preclinical Collaboration Plan, Amgen will have the right to continue to
use such Materials as necessary in connection with the Development & Commercialization Program, to the same extent as the (sub)license by BIND in Section 8.1 and subject to Amgen’s compliance with Section 2.2(c). 

5.2 Diligence. 
 (a) During the remainder of the Term after the end of the Design/Preclinical Collaboration Term, Amgen will use, or will cause its Affiliates and Sublicensees to use, Commercially Reasonable Efforts to
Develop, seek Regulatory Approval for, and following Regulatory Approval to Commercialize at least one Licensed Product in the Field and Territory. Notwithstanding anything contained in the foregoing to the contrary, Amgen’s obligations under
this Section 5.2 shall expire on a country-by-country basis upon expiration of the last to expire Valid Claim of any Patent issued in such country that has been licensed to Amgen by BIND under Sections 8.1 and 8.2. 

(b) During the remainder of the Term after the end of the Design/Preclinical Collaboration Term, Amgen will provide BIND with a
semi-annual report with a reasonably detailed summary of events related to the Development & Commercialization Program, including a listing of any Regulatory Approvals achieved for Licensed Candidates or Licensed Products. Any and all such
reports (and all data and information set forth therein) will be considered Amgen’s Confidential Information and will be subject to the confidentiality and use restrictions under this Agreement. Amgen will also consider in good faith any
reasonable requests by BIND for additional information (to the extent available) related thereto. 
 Section 6. Manufacturing.

 6.1 Preclinical Supplies. 
 (a) From the Effective Date until the exercise of the option pursuant to Section 4.1, BIND will have the sole right and obligation to Manufacture or have Manufactured, at its sole expense, Product
Candidates, subject to the terms of the Design/Preclinical Collaboration Plan. 
 (b) After exercise of the option pursuant to
Section 4.1, BIND will have the sole right and obligation to Manufacture or have Manufactured Licensed Candidates, at its sole expense, for GLP Toxicology Studies. 
 (c) At BIND’s request, Amgen will, at its sole expense, provide adequate supplies of Amgen Drug Candidate in a form suitable for Manufacture of Licensed Candidates for GLP Toxicology Studies.

  

					
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 (d) Amgen will provide to BIND a [***] forecast of its
anticipated requirements for supply of Licensed Candidates needed for GLP Toxicology Studies. 
 (e) To the extent required to
satisfy 35 USC § 204, Amgen agrees that any Licensed Products used or sold in the United States will be manufactured substantially in the United States. 
 6.2 Clinical and Commercial Supplies. After the completion of GLP Toxicology Studies, BIND and Amgen shall cooperate to transition the Manufacturing of Licensed Candidates and Licensed Products to
a mutually acceptable Third Party manufacturer; provided that, if the Parties are unable to so agree, Amgen may select either Patheon or Vetter as the Third Party manufacturer. Amgen shall contract directly with the Third Party manufacturer and
shall be responsible for the further Manufacturing of Licensed Candidates and Licensed Products. BIND shall cooperate to provide to such Third Party manufacturer, under obligations of confidentiality satisfactory to BIND, all existing manufacturing
information then in BIND’s possession and control and reasonably required for such Third Party to perform such Manufacturing of Licensed Candidates and Licensed Products for Amgen. BIND shall also, in connection therewith, grant to such Third
Party manufacturer a non-exclusive license to use such manufacturing technology solely for the purposes of performing the Manufacturing of Licensed Candidates and Licensed Products for Amgen. Amgen shall be solely responsible for all costs
associated with the purchase of Licensed Candidates and Licensed Products from such Third Party manufacturer. BIND shall have no responsibility to Amgen for Amgen’s further supply of Licensed Candidates and Licensed Products to be provided by a
Third Party manufacturer pursuant to this Section 6.2. The Parties shall use their commercially reasonable efforts to complete the transition of the Manufacturing of Licensed Candidates and Licensed Products as soon as practicable. Upon the
request of Amgen, BIND shall provide up to [***] of consulting support at Amgen’s expense for the transition of manufacturing as reasonably necessary to facilitate the transition of the Manufacturing, but in no event shall BIND have any
obligation to provide consulting support in excess of such number of hours with respect to the transition of the Manufacturing. The transfer of Manufacturing of Licensed Candidates and Licensed Products shall be conducted in accordance with a
transition plan which shall be mutually approved by the Parties and which sets forth responsibilities and schedules for transferring such Manufacturing as expeditiously as practicable (provided that such transition plan shall be consistent with the
guidelines set forth in the Design/Preclinical Collaboration Plan). Except as expressly set forth in the Design/Preclinical Collaboration Plan, BIND will have no obligation to perform any additional process development with respect to the
Manufacturing of Licensed Candidates and Licensed Products. If mutually agreed by the Parties, any Manufacturing of Licensed Candidates and Licensed Products may be transitioned to Amgen instead of a contract manufacturer. In the event of any delay
in transitioning Manufacturing, Amgen shall have the right to meet with BIND on a regular basis to discuss any such delays and may assist in conducting Manufacturing transition activities. 
 Section 7. Exclusivity. 
 7.1 Exclusive Relationship. During the
period commencing on the Effective Date and ending on the expiration of the Amgen Option Period, BIND shall not, directly or indirectly, Develop any nanotherapeutic, the intended therapeutic effect of which is [***], except to carry out its
obligations under the Design/Preclinical Collaboration and to perform counter-screens (the “Initial Exclusivity Period”). 
 7.2 Extended Exclusivity Period. Amgen may, by written notice to BIND of Amgen’s desire to extend the exclusivity provided under Section 7.1 (the “Extended Exclusivity Notice”),
extend the exclusivity provided to Amgen under Section 7.1 for an additional period(s), subject to receipt of payment from Amgen of the amounts set forth in Section 9.6 (such period if the “Extended Exclusivity Period”). Amgen
may initiate the Extended Exclusivity Period at any time during the Term; provided that, if 
  

 

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Amgen initiates the Extended Exclusivity Period at any time after the expiration of the Initial Exclusivity Period, then such Extended Exclusivity Period shall only become effective with
BIND’s consent if either (i) BIND has undergone a Change of Control after the expiration of the Initial Exclusivity Period and prior to the receipt of such Extended Exclusivity Notice, or (ii) BIND has entered into any contractual
obligations that it agreed to during such interim period, and performance thereunder would constitute a breach of this Section 7.2. If BIND does not so consent, Amgen may retract the Extended Exclusivity Notice and no amounts shall become
payable under Section 9.6 in connection therewith. Any Extended Exclusivity Period that becomes effective hereunder shall commence on the effective date of the Extended Exclusivity Notice and shall terminate on the earliest of: (i) the
date upon which Amgen fails to make a payment as and when due under Section 9.6, or (ii) the expiration or termination of the Term. 

  

					
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 Section 8. (Sub)licenses and Other Rights. 

8.1 (Sub)licenses to Amgen. Subject to the terms and conditions of this Agreement, BIND will grant to Amgen a non-exclusive,
worldwide and royalty-free (sub)license to BIND Background Technology and BIND Program IP for the Design/Preclinical Collaboration Term as may be necessary for Amgen to conduct its obligations and responsibilities allocated to it under the
Design/Preclinical Collaboration during the Design/Preclinical Collaboration Term only. Such (sub)license may be sublicensed or other rights granted thereunder by Amgen only to permitted subcontractors under Section 2.3. 

8.2 Licensed Candidates and Licensed Products (Sub)licenses. Subject to the terms and conditions of this Agreement, for each
Licensed Candidate, BIND will grant to Amgen an exclusive, royalty-bearing (sub)license, with the right to grant sublicenses or other rights thereunder only to the extent permitted under Section 8.4, under BIND Background Technology and BIND
Program IP, for the Term only, solely to Develop, Manufacture and Commercialize (including to use, sell, offer for sale and import) such Licensed Candidate alone and in Licensed Products, in the Field and Territory only. Notwithstanding anything
herein to the contrary, BIND will retain the right to perform the Design/Preclinical Collaboration. 
 8.3 Regulatory License
Grants. 
 (a) General. The Parties will generate Amgen Regulatory Data for Licensed Candidates and Licensed Products
under this Agreement, and BIND intends to generate BIND Regulatory Data itself and with its Third Party licensees. To the extent that any such Amgen Regulatory Data or BIND Regulatory Data includes data concerning AccurinsTM as a drug class
generally (collectively, “AccurinTM Class Specific Data”), then the following licenses shall apply; provided, however only to the extent the underlying clinical study target or therapeutic is not revealed by the inclusion of any such
data in such license unless such data is Confidential Information created pursuant to this Agreement: 
 (i)
Grant by BIND. Subject to the terms and conditions of this Agreement, BIND will grant to Amgen, for Licensed Candidates and Licensed Products, a non-exclusive, royalty-bearing license, with the right to sublicense only as provided in
Section 8.4, under AccurinTM Class Specific Data Controlled by BIND, in the Field in the Territory, and only for those activities for which Amgen has a then-effective license under Sections 8.1 and 8.2. The foregoing license grant will
not include any right to reference any Regulatory Documentation filed with a Regulatory Authority. 
 (ii)
Grant by Amgen. Amgen will grant to BIND and its Affiliates, a perpetual and irrevocable, non-exclusive, royalty-free and fully paid-up license, with the right to grant sublicenses through multiple tiers, under AccurinTM Class Specific
Data owned or controlled by Amgen and its Affiliates or Sublicensees, to research, develop and commercialize AccurinsTM (excluding Licensed Candidates and Licensed Products). The foregoing license grant will not include any right to reference
any Regulatory Documentation filed with a Regulatory Authority. 
 (b) Disclosure of AccurinTM Class Specific Data.
To the extent that any AccurinTM Class Specific Data is not already subject to disclosure by one Party to the other Party hereunder, copies of any AccurinTM Class Specific Data subject to a license grant in this Section 8.3 will be
provided by the granting Party to the licensee Party, when and as any such AccurinTM Class Specific Data becomes available to the granting Party. 
 8.4 Transfer and Sublicensing. 
 (a) The (sub)licenses granted in
Sections 8.2 and 8.3 are transferable only upon a permitted assignment of this Agreement in accordance with Section 16.1. 

  

					
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 (b) The (sub)licenses granted in Sections 8.2 and 8.3 may be sublicensed and
other rights granted thereunder by Amgen to Third Parties, but without the right to grant further sublicenses or other rights thereunder, only in compliance with the following: 

(i) Amgen may grant a sublicense to an Affiliate of Amgen as a Sublicensee hereunder, provided such sublicense only
remains in effect for as long as such Sublicensee remains an Affiliate of Amgen; 
 (ii) Amgen may grant a
sublicense to non-Affiliated Third Parties that are clinical research organizations, contract manufacturers, contract laboratory organizations, distributors (provided that such distributors are not granted exclusive rights to Commercialize a
Licensed Product in any territory or to any customer segment) and other similar organizations that support the Development and Commercialization of Product Candidates and Licensed Products on a fee-for-service basis as Sublicensees hereunder;

 (iii) Amgen may grant a sublicense to other non-Affiliated Third Parties as a Sublicensee hereunder, provided
that if Amgen proposes entering into an agreement by which Amgen would grant an exclusive right to Develop or Commercialize a Licensed Product in a Major Market Country, then Amgen shall be required to obtain BIND’s prior written consent (which
consent will not be unreasonably withheld); 
 (iv) Amgen will provide BIND with a copy of each Sublicensee
agreement within thirty (30) days of execution thereof (other than with respect to Sublicenses under clause (i) and (ii) above); and 
 (v) Amgen will be responsible for any and all obligations of any such Sublicensee as if such Sublicensee were “Amgen” hereunder. 

8.5 Licenses by Amgen. Amgen hereby grants to BIND a royalty-free, fully paid-up, non-exclusive, nontransferable (except in
connection with a permitted assignment of this Agreement in accordance with Section 16.1) license in the Territory during the Design/Preclinical Collaboration Term under the Amgen Background Technology and Amgen Program IP for the sole and
limited purpose of permitting BIND to perform its obligations under the Design/Preclinical Collaboration. BIND will have the limited right to grant sublicenses of such license to BIND’s Affiliates or to Third Party subcontractors only if and to
the extent necessary for such Affiliates or Third Party subcontractors to perform activities under the Design/Preclinical Collaboration Plan for and on behalf of BIND in accordance with the terms of Section 2.3. 

8.6 No Other Licenses or Rights. Nothing herein will be construed as creating, granting or otherwise conveying to either Party any
license or other right (whether by implication, estoppel or otherwise) other than those licenses and other rights that are expressly provided for in this Agreement. 
 8.7 MIT License Agreement Restrictions. 
 (a) Amgen, for itself and on
behalf of its Affiliates and Sublicensees covenant that MIT Patents will not be asserted against not-for-profit institutions for use on research funded by the institutions themselves, by non-for-profit foundations, by the Howard Hughes Medical
Institute, by any state government, or by the United States federal government. 
 (b) Amgen and its Affiliates and Sublicensees
shall comply with all United States laws and regulations controlling the export of certain commodities and technical data, including all Export Administration Regulations of the United States Department of Commerce. Among other things, these laws
and regulations prohibit or require a license for the export of certain types of commodities and technical data to specified countries. Amgen hereby gives written assurance that it will comply with, and will cause its Affiliates and Sublicensees to
comply with, all United States export control laws and regulations, that it bears sole responsibility for any violation of such laws and regulations by itself or its Affiliates or Sublicensees, and that it will indemnify, defend, and hold MIT,
Brigham, Harvard and GIST harmless (in accordance with Section 14.6(a)) for the consequences of any such violation. 

  

					
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 (c) Amgen and its Affiliates and Sublicensees will not use the names “Massachusetts
Institute of Technology,” “Lincoln Laboratory,” “Brigham and Women’s Hospital,” “Gwangju Institute of Science & Technology” or any variation, adaptation or abbreviation thereof, or of any of its
trustees, officers, faculty, students, employees, or agents (collectively, “Associates,” or an individual related to a particular institution, an “Associate”), or any trademark owned by MIT, Brigham or GIST, or any terms of the
MIT License Agreement in any promotional material or other public announcement or disclosure without the prior written consent of the applicable party, or in the case of the name of a Brigham or GIST Associate, the written consent of such Brigham or
GIST Associate. 
 (d) Amgen acknowledges the following retained rights under the MIT License Agreement: 

(i) MIT, Brigham and GIST retain the right to practice the MIT Patents for research, teaching and educational purposes.

 (ii) The United States federal government retains a royalty-free, non-exclusive, non-transferable license to
practice any government-funded invention claimed in any MIT Patents as set forth in 35 U.S.C. §§ 201-211, and the regulations promulgated thereunder, as amended, or any successor statutes or regulations. 

(iii) University of Santiago De Compostela retains a perpetual non-exclusive right to practice the MIT Patents for MIT
Case No. 6271 for the purpose of conducting work in connection with its grant “Surface modified nanostructures as delivery vehicles for transmucosal vaccination” (principal investigator Maria Alonso). 

(iv) DuPont retains a perpetual non-exclusive right to practice the intellectual property associated with MIT Case
No. 11257, “Bioadhesive Polymers-Coated Controlled Release Polymer Particles as Efficient Oral Delivery Vehicles for Biopharmaceuticals,” by Jianjun Cheng, Omid C. Farokhzad, Sangyong Jon and Robert S. Langer. MIT interprets its
agreement with DuPont to provide that DuPont may not sublicense such right or assign such right without MIT’s consent, and MIT has agreed not provide any such consent without the prior approval of BIND. 

8.8 JHU License Agreement Restrictions. 
 (a) Amgen and its Affiliates and Sublicensees shall not use the name of The Johns Hopkins University or The Johns Hopkins Health System or any of its constituent parts, such as the Johns Hopkins Hospital
or any contraction thereof or the name of Inventors (as defined in the JHU License Agreement) in any advertising, promotional, sales literature or fundraising documents without prior written consent from an authorized representative of JHU. In the
event that Amgen wishes to do any of the foregoing, Amgen shall allow at least seven (7) business days’ notice of any such proposed public disclosure for JHU’s review and comment or to provide written consent. 

(b) Amgen acknowledges the following retained rights under the JHU License Agreement: 

(i) JHU retains the right to make, have made, provide and use for its and The Johns Hopkins Health Systems’
non-commercial, nonprofit academic research purposes LICENSED PRODUCTS (as such capitalized term is defined the JHU License Agreement), including the ability to distribute any biological material disclosed and/or claimed in the JHU Patents for
non-commercial, nonprofit academic research use to non-commercial entities as is customary in the scientific community. 
 (ii) The United States federal government may have acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced for or on behalf of the United States the inventions
described in the JHU Patents throughout the world. The rights granted in the JHU License Agreement are additionally subject to: (i) the right of the United States government to require JHU, or its licensees, including Amgen or BIND, to grant
sublicenses to responsible applicants on reasonable terms when necessary to fulfill health or safety needs, and, (ii) other rights acquired by the United States federal government under the laws and regulations applicable to the grant/contract
award under which the inventions were made. 

  

					
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 Section 9. Amgen Payments to BIND. 

9.1 Initial License Fee. Amgen will pay to BIND [***] US dollars [***] within ten (10) days after the Effective Date, of which
[***] US dollars [***] will be allocated by BIND towards the funding of BIND’s activities under the Design/Preclinical Collaboration. Such payment will be non-refundable and non-creditable. 

9.2 Option Fee. Amgen will pay to BIND [***] US dollars [***] (the “Option Fee”) within ten (10) days after
the date of an Option Notice for the first Licensed Candidate. 
 9.3 Milestone Payments. As set forth in the following
table, Amgen will make Milestone Payments to BIND upon achievement of each of the Milestones Events by Amgen, an Affiliate of Amgen or a Sublicensee. Each Milestone Payment will be payable by Amgen to BIND within [***] after becoming due hereunder
and will be non-refundable and non-creditable (upon the request of Amgen, BIND will issue an invoice for any Milestone Payment due hereunder). 
  

					
	 Milestone Event
	  	Milestone Payment	 
	 1. [***]
	  	 	[***	] 
	 2. [***]
	  	 	[***	] 
	 3. [***]
	  	 	[***	] 
	 4. [***]
	  	 	[***	] 
	 5. [***]
	  	 	[***	] 
	 6. [***]
	  	 	[***	] 
	 7. [***]
	  	 	[***	] 
	 8. [***]
	  	 	[***	] 
	 9. [***]
	  	 	[***	] 
	 10. [***]
	  	 	[***	] 

 (a) Each Product Candidate or Licensed Product which is the first to be used by Amgen (directly or with
or through an Amgen Affiliate or Sublicensee) to achieve a particular Milestone Event hereunder shall trigger the payment of the relevant Milestone Payment and shall be a “Milestone Bearing Product Candidate or Licensed Product.”

 (b) If a Milestone Event described above for any of a [***] is not achieved with a particular Milestone Bearing Product
Candidate or Licensed Product (each a “Skipped Milestone Event”), but a Milestone Event described above that is subsequent to the Skipped Milestone Event(s) is achieved with such Milestone Bearing Product Candidate or Licensed Product
(e.g., approval is sought for example on a [***]), then the Milestone Payments for such Skipped Milestone Event(s) will then be due and payable with and in addition to the Milestone Payment for the achieved Milestone Event. 

 

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 (c) If Amgen (directly or with or through an Amgen Affiliate or Sublicensee) achieves
one or more Milestone Events with a particular Milestone Bearing Product Candidate or Licensed Product and then abandons Development and Commercialization of such Milestone Bearing Product Candidate or Licensed Product, then the next Product
Candidate or Licensed Product that is in Development for the same Indication as the abandoned Milestone Bearing Product Candidate or Licensed Product shall itself be a Milestone Bearing Product Candidate or Licensed Product with respect to all
Milestone Events that were not previously achieved with the abandoned Milestone Bearing Product Candidate or Licensed Product. 

(d) If Amgen (directly or with or through an Amgen Affiliate or Sublicensee) pursues the Development and Commercialization of a Product
Candidate or Licensed Product for an Indication that is different than the Indication for the first Product Candidate or Licensed Product (including, for these purposes, all back-ups or other Product Candidates or Licensed Products that are in
Development for the same Indication as the first such Product Candidate or Licensed Product, collectively the “First Product Candidate or Licensed Product”), then such second Product Candidate or Licensed Product shall itself be a
Milestone Bearing Product Candidate or Licensed Product for purposes of this Agreement (for avoidance of doubt, such deemed Milestone Bearing Product Candidate or Licensed Product may be the same Product Candidate or Licensed Product as the First
Product Candidate or Licensed Product in which case the First Product Candidate or Licensed Product shall be deemed to be a Milestone Bearing Product Candidate or Licensed Product for each of its two Indications)(such second Product Candidate or
Licensed Product, whether or not it is a different Product Candidate or Licensed Product than the First Licensed Candidate or Licensed Product, is the “Second Product Candidate or Licensed Product”). The Second Product Candidate or
Licensed Product shall be deemed to be a Milestone Bearing Product Candidate or Licensed Product, and shall trigger the payment of Milestone Payments upon the achievement of Milestone Events (other than with respect to Milestone Event 10), in the
same manner, and subject to the same limitations, as the First Product Candidate or Licensed Product, only if the First Product Candidate or Licensed Product achieves Regulatory Approval (provided that, if at the time such First Product Candidate or
Licensed Product achieves Regulatory Approval Amgen is not then currently in active Development of such Second Product Candidate or Licensed Product (i.e., Amgen is not conducting GLP Toxicology Studies or clinical trials) then the Milestone
Payments with respect to such Second Product Candidate or Licensed Product shall not be payable until the achievement of the next Milestone Event by such Second Product Candidate or Licensed Product). If Amgen, its Affiliates and Sublicensees
abandon Development and Commercialization of the First Product Candidate or Licensed Product, then the most advanced Product Candidate or Licensed Product then in Development (together with its back-ups and other Product Candidates or Licensed
Products that are in Development for the same Indication) shall be deemed from that time forward to be the First Product Candidate or Licensed Product and, if any Product Candidate or Licensed Product then or later so qualifies, it shall be
designated the Second Product Candidate or Licensed Product. 
 (e) Anything herein to the contrary notwithstanding:
(i) subject to the satisfaction of the conditions set forth in this Section 9.3, each Milestone Payment may become due and payable a maximum of two times, (ii) no Milestone Payment shall become due and payable in connection with the
achievement of a Milestone Event that was previously achieved, and for which a Milestone Payment was made, with a Product Candidate or Licensed Product that has the same Indication as the Product Candidate or Licensed Product that was used to so
previously achieve such Milestone Event and (iii) no Milestone Payments will become due and payable hereunder in connection with the Second Product Candidate or Licensed Product unless and until the First Product Candidate or Licensed Product
achieves Regulatory Approval. 
  

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 9.4 Royalties. 

(a) Royalties. Subject to the terms and conditions of this Agreement, Amgen will pay to BIND royalties, for the period of time
specified in Section 9.4(b), at the graduated royalty rates specified in the following table with respect to the aggregate annual worldwide Net Sales of all Licensed Products in the Territory in a calendar year: 

 

					
	 Aggregate Annual Worldwide Net Sales

of All Licensed Products in a Calendar Year
	  	Royalty Rate	 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 

 The applicable royalty rate will be determined by reference to all Net Sales on which royalties are paid
in a given calendar year. By way of example, in a given calendar year, if the aggregate annual worldwide Net Sales for all Licensed Products for which royalties are due under this Section 9.4(a) were [***], the following royalty payment would
be payable under this Section 9.4(a) (subject to all reductions set forth in this Agreement): [***]. 
 (b) Royalty
Term. The royalties due under Section 9.4(a) will be payable on Net Sales of a particular Licensed Product until the [***] of, on a Licensed Product-by-Licensed Product and country-by-country basis, (i) when the manufacture, use,
import, offer for sale or sale of such Licensed Product in such country no longer infringes one or more Valid Claims of a Patent (sub)licensed by BIND hereunder, or (ii) the launch of a Generic Product in such country. If a Licensed Product
sold in or into the United States is royalty-bearing only on account of Section 9.4(b)(ii) (and Section 9.4(b)(i) does not apply to the sale of such Licensed Product because the manufacture, use, import, offer for sale or sale of such
Licensed Product in the United States no longer infringes one or more Valid Claims of a Patent (sub)licensed by BIND to Amgen hereunder), then the royalties set forth in Section 9.4(a) with respect to the sale of such Licensed Product in or
into the United States will be reduced by [***]. 
 (c) Additional Royalty Provisions. 

(i) Only one royalty will be due with respect to the sale of the same unit of Licensed Product. 

(ii) Royalties when owed or paid hereunder will be non-refundable and non-creditable and not subject to set-off, except as
expressly set forth herein. 
 (iii) Only one royalty will be due hereunder on the sale of a Licensed Product
even if the manufacture, use, sale, offer for sale or importation of such Licensed Product infringes more than one (1) Patent. 
 9.5 Third Party Licenses. In the event that Amgen has to obtain one or more licenses from one or more Third Parties (not including any Sublicensees) for Patent(s) claiming nanoparticle technology
in order to enable Amgen or its Sublicensees to avoid infringing such Patent(s) by making, having made, 
  

 

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using, offering to sell, selling or importing a Licensed Product, Amgen will inform BIND, and [***] of any amounts actually paid under such licenses by Amgen or any of its Sublicensees for sale
of such Licensed Product will be creditable against the royalty payments that are otherwise payable to BIND by Amgen with respect to the sale of such Licensed Products; provided that, in no case will royalties otherwise payable to BIND for any
calendar quarter be reduced by more than [***]. For purposes of clarity (i) BIND will be solely responsible for paying royalties and milestones owed to its existing licensors in connection with the BIND Background Technology licensed to Amgen
under this Agreement, and (ii) Amgen will be solely responsible for paying royalties and milestones owed to its existing licensors in connection with other product components of Licensed Products, and such amounts will not be taken into account
for purposes of reducing any of the royalties payable by Amgen to BIND under this Agreement. For clarity, Amgen shall be entitled to carry forward any amounts eligible to be offset against royalty payments to BIND that have not been offset
previously due to the [***] cap on royalty reductions provided in this Section 9.5. 
 9.6 Exclusivity Payments.

 (a) In consideration of the exclusivity obligations set forth in Section 7, Amgen will have the option but not the
obligation to pay to BIND the following Exclusivity Payments on the corresponding Due Date: 
  

					
	 Due Date
	  	Exclusivity Payment	 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 
	 [***]
	  	 	[***	] 

 (b) Amgen may initiate the Extended Exclusivity Period at any time during the Term; provided that, if
Amgen initiates the Extended Exclusivity Period at any time after the expiration of the Initial Exclusivity Period (such interim period is the “Exclusivity Lapse Period”), then Amgen shall be obligated to pay an amount equal to [***] of
each of the Exclusivity Payments listed above for the Exclusivity Lapse Period. Any early payment of an Exclusivity Payment will not extend the Exclusivity Period. Amgen may inquire of BIND if the exclusivity specified in Section 7.1 is still
available during any such deferral. 
 (c) For clarity, (i) Amgen will not be obligated to make any Exclusivity Payments,
but absent payment of any or all Exclusivity Payments when due (subject to deferral as provided in Section 9.6(b)), the Exclusivity Period will end as provided in the definition thereof, and (ii) no previously paid Exclusivity Payments
will be reimbursed even if the Exclusivity Period ends. 
 9.7 Expenses and FTE Rate. 

(a) After exercise of the option by Amgen pursuant to Section 4.1 and for the remainder of the Term, Amgen will reimburse BIND for
all external expenses incurred by BIND without mark-up related to BIND’s activities under this Agreement, including any external expenses associated with a manufacturing technology transfer. BIND will not be required to incur any external
expenses for which Amgen will not reimburse BIND. 
  

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 (b) BIND is responsible for its internal costs associated
with activities included in the Design/Preclinical Collaboration Plan. Amgen may request that BIND perform activities outside the scope of the Design/Preclinical Collaboration Plan and, if BIND so agrees, Amgen will pay BIND the FTE Rate for the
number of FTEs agreed to by the Parties to perform such activities. Subject to the quarterly true-up set forth in Section 9.8(b), such payments by Amgen will be payable to BIND on the first day of each calendar quarter period, in an amount
equal to [***] of the product of the FTE Rate times the number of FTEs for the relevant year (such payment to be prorated for the first and last calendar quarter period of the Term). 

9.8 Payment Terms. 
 (a) Manner of Payment. All payments to be made by Amgen hereunder will be made in US dollars by wire transfer in accordance with the following instructions or such other instructions as BIND may
designate during the term: 
 Beneficiary Bank Information: 

[***] 
 [***]

 (b) Payment of Expenses. Amgen will reimburse BIND within forty-five (45) days of receiving any invoice from BIND
for those expenses incurred by BIND in accordance with Sections 9.7(a) and 9.7(b). The Parties will conduct a quarterly true-up of any FTE reimbursement within sixty (60) days after the end of each calendar quarter. 

(c) Reports and Royalty Payments. For as long as royalties are due under Section 9.4(a), Amgen will furnish to BIND a written
report on a Licensed Product-by-Licensed Product and country-by-country basis, within forty-five (45) days after the end of each calendar quarter, showing the amount of Net Sales of Licensed Products and royalty due for such calendar quarter.
Royalty payments for each calendar quarter will be due at the same time as such written report for the calendar quarter. The report will include, at a minimum, the following information for the applicable calendar quarter, each listed by Licensed
Product and by country of sale: (i) the number of units of Licensed Products sold or distributed by Amgen and its Affiliates and Sublicensees, and that number of such units on which royalties are due hereunder; (ii) the gross amount
received for such sales; (iii) deductions taken from Net Sales as specified in the definition thereof; (iv) Net Sales; (v) the royalties owed; and (vi) the computations for any applicable currency conversions pursuant to
Section 9.8(e). All such reports will be treated as Confidential Information of Amgen. Amgen will also report the date of First Commercial Sale of each Licensed Product in each country within thirty days after occurrence thereof. 

(d) Records and Audits. Each Party will keep, and will cause each of its Affiliates and Sublicensees to maintain, complete and
accurate books and records relating to the rights and obligations under this Agreement and any amounts payable to BIND in relation to this Agreement or payable by Amgen in relation to FTE reimbursement, which records shall contain sufficient
information to permit the relevant Party to confirm the accuracy of any reports or invoices delivered to the other Party and compliance in other respects of this Agreement. For the five (5) years next following the end of the calendar year to
which each will pertain, such books and records will be kept at each of their principal place of business and will be open for inspection at reasonable times by an independent certified accountant selected by the relevant Party to verify any reports
and payments made or compliance in other respects under this Agreement. Such accountant must have executed and delivered to audited Party a 
  

 

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confidentiality agreement as reasonably requested by such audited Party. The results of such inspection, if any, will be binding on both Parties. Any underpayments will be paid by Amgen within
forty-five (45) days of notification of the results of such inspection. Any overpayments by Amgen will be creditable against amounts payable in subsequent payment periods and if there are no such payments payable, then BIND shall pay to Amgen
the amount of the discrepancy within forty-five (45) days of notification of the results of such inspection. The auditing Party will pay for such inspections, except that (i) in the event there is any upward adjustment in aggregate amount
of royalties payable by Amgen for any calendar year shown by such inspection of more than [***] of the amount paid, Amgen will reimburse BIND for any reasonable costs and expenses of such accountant, and (ii) in the event there is any downward
adjustment in aggregate amount of FTE reimbursement payable by Amgen for any calendar year shown by such inspection of more than [***] of the amount paid, BIND will reimburse Amgen for any reasonable costs and expenses of such accountant.

 (e) Currency Exchange. With respect to Net Sales invoiced in US dollars, the Net Sales and the amounts due to BIND
hereunder will be expressed in US dollars. With respect to Net Sales invoiced in a currency other than US dollars, the Net Sales will be expressed in the domestic currency of the entity making the sale for the relevant calendar quarter, together
with the US dollar equivalent, calculated using a rate of exchange which corresponds to the rate used for conversion between the relative currencies by Amgen for such calendar quarter in its books and records that are maintained in accordance with
GAAP. If Amgen is not required to perform such a currency conversion for its GAAP reporting for such calendar quarter, then for such calendar quarter Amgen will make such conversion using the rate of exchange which corresponds to the noon buying
rate as published in the Wall Street Journal, Eastern U.S. Edition on the second to last business day of the calendar quarter (or such other publication as agreed-upon by the Parties) in which such Net Sales were received. 

(f) Tax Withholding. Amgen may withhold from any payments due to BIND amounts for payment of any withholding tax that is required
by law to be paid to any taxing authority with respect to such payments. Amgen will provide BIND all necessary documents and correspondence, and will also provide to BIND any other cooperation or assistance on a reasonable basis as may be necessary
to enable BIND to claim exemption from such withholding taxes and to receive a refund of such withholding tax or claim a foreign tax credit. Amgen will give proper evidence from time to time as to the payment of any such tax. No deduction will be
made or a reduced amount will be paid if BIND furnishes a document from all required tax authorities to Amgen sufficiently before the due date of the payments, certifying that the payments are exempt from tax or subject to a reduced tax rate
according to the applicable convention for the avoidance of double taxation. Apart from any such permitted withholding under this Section 9.8(f) and those deductions expressly included in the definition of Net Sales, the amounts payable by
Amgen to BIND hereunder will not be reduced on account of any taxes, charges, duties or other levies. 
 (g) Interest
Due. Amgen will pay BIND interest on any payments that are not paid on or before the date such payments are due under this Agreement (before and after any judgment) at an annual rate (but with interest accruing on a daily basis) of the lesser of
two percent (2%) above the prime rate as reported in The Wall Street Journal, Eastern Edition, and the maximum rate permitted by applicable law, such interest to run from the date upon which payment of such sum became due until payment thereof
in full together with such interest. 
 (h) Blocked Payments. In the event that, by reason of applicable law in any
country, it becomes impossible or illegal for Amgen to transfer, or have transferred on its behalf, royalty payments owed BIND hereunder, Amgen will promptly notify BIND of the conditions preventing such transfer and such payments will be deposited
in local currency in the relevant country to the credit of BIND in a recognized banking institution designated by BIND or, if none is designated by BIND within a period of thirty (30) days, in a recognized banking institution selected by Amgen
and identified in a written notice given to BIND. 
  

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 9.9 Mutual Convenience of the Parties. The royalty and other payment obligations
set forth hereunder have been agreed to by the Parties for the purpose of reflecting and advancing their mutual convenience, including the ease of calculating and paying royalties and other amounts to BIND. 

Section 10. Intellectual Property. 
 10.1 Background Technology. As between the Parties, (a) BIND will own all right, title and interest in and to the BIND Background Technology, and (b) Amgen will own all right, title and
interest in and to the Amgen Background Technology. 
 10.2 Ownership and Inventorship. 

(a) New BIND Core IP. As between the Parties, BIND will solely own all right, title and interest in and to any Program IP that
constitutes improvements, modifications or enhancements to (i) BIND Background Technology, (ii) AccurinsTM (including compositions of matter, methods of use and methods of manufacturing (including such claims that specifically claim a
Product Candidate, a “Product Candidate Claim”) (for clarity Product Candidate Claims include Product Specific Patents (as defined below)) and (iii) Product Specific Patents, and all right, title and interest thereto will
automatically vest solely in BIND (collectively referred to herein as “BIND Core IP”). Amgen, for itself and on behalf of its Affiliates and subcontractors, and employees, subcontractors, consultants and agents of any of the foregoing,
hereby assigns (and to the extent such assignment can only be made in the future hereby agrees to assign), to BIND all right, title and interest in and to such BIND Core IP (unless already owned by BIND). Amgen will cooperate, and will cause the
foregoing persons and entities to cooperate, with BIND to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 

(b) New Amgen Core IP. As between the Parties, Amgen will solely own all right, title and interest in and to any Program IP that
constitutes improvements, modifications or enhancements to (i) Amgen Background Technology, or (ii) the Amgen Drug Candidate (other than Product Candidate Claims), and all right, title and interest thereto will automatically vest solely in
Amgen (collectively referred to herein as “Amgen Core IP”). BIND, for itself and on behalf of its Affiliates and subcontractors, and employees, subcontractors, consultants and agents of any of the foregoing, hereby assigns (and to the
extent such assignment can only be made in the future hereby agrees to assign), to Amgen all right, title and interest in and to such Amgen Core IP (unless already owned by Amgen). BIND will cooperate, and will cause the foregoing persons and
entities to cooperate, with Amgen to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 

(c) Program IP. 
 (i) Except as otherwise provided in Sections 10.2(a) or 10.2(b), ownership of any Program IP created or conceived solely by or on behalf of a Party will be solely owned by such Party (together with
rights owned by such Party pursuant to Section 10.2(a) or 10.2(b), rights described in this Section 10.2(c) are referred to herein as “Sole Program IP” for each Party), and if created or conceived jointly by or on behalf
of the Parties will be jointly owned by the Parties (referred to herein as “Joint Program IP”). Accordingly, any BIND Core IP, Sole Program IP or Joint Program IP in which BIND has an ownership interest will be “BIND Program
IP”, and any Amgen Core IP, Sole Program IP or Joint Program IP in which Amgen has an ownership interest will be “Amgen Program IP”. 
 (ii) Each Party will have an undivided one-half interest in and to Joint Program IP. Each Party will exercise its ownership rights in and to such Joint Program IP, including the

  

					
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right to license and sublicense or otherwise to exploit, transfer or encumber its ownership interest, without an accounting or obligation to, or consent required from, the other Party, but
subject to the licenses hereunder and the other terms and conditions of this Agreement. At the reasonable written request of a Party, the other Party will in writing grant such consents and confirm that no such accounting is required to effect the
foregoing regarding Joint Program IP. Each Party, for itself and on behalf of its Affiliates, licensees and sublicensees, and employees, subcontractors, consultants and agents of any of the foregoing, hereby assigns (and to the extent such
assignment can only be made in the future hereby agrees to assign), to the other Party a joint and undivided interest in and to all Joint Program IP. 
 (iii) Subject to the terms and conditions of this Agreement (including Section 11 and Section 12): 
 (A) Each Party will be solely responsible for the Prosecution and Maintenance, and the enforcement and defense, of any Patents within its Sole Program IP, and the other Party will have no rights with
respect thereto; and 
 (B) The Prosecution and Maintenance, and the enforcement and defense, of any Patents within Joint
Program IP will be jointly managed by the Parties on mutually agreeable terms to be entered into by the Parties at the time any such Patents are first filed, and all recoveries and out-of-pocket costs and expenses arising from those activities,
absent further agreement, will be shared equally by the Parties (provided that sufficient advance written notice of any such costs or expenses is given to the Party not incurring same), provided that if either Party elects not to pay any such costs
or expenses for any such Patent, the Parties will meet and agree upon an equitable way to treat such Patent. 
 (d)
Inventorship. Inventorship determination for all Patents worldwide arising from any Program IP and thus the ownership thereof will be made in accordance with applicable United States patent laws. 

10.3 Disclosure of Program IP. During the Term, BIND will promptly (and at least on a calendar quarterly basis) disclose to Amgen
any Program IP created or conceived by or on behalf of BIND, and will provide such documentation regarding same as Amgen may reasonably request, to the extent licensed to Amgen under Section 8.2. During the Term, Amgen will promptly (and at
least on a calendar quarterly basis) disclose to BIND any Program IP created or conceived by or on behalf of Amgen, and will provide such documentation regarding same as BIND may reasonably request. 

10.4 Joint Research Agreement. This Agreement will be understood to be a joint research agreement in accordance with 35 USC
§ 103(c)(3) to Develop and Commercialize Licensed Products in the Field and Territory, provided that neither Party will be required by this reference to have any Patent take advantage of or become subject to such § 103(c)(3)
except in accordance with the provisions of this Agreement regarding Prosecution of such Patent. 
 Section 11. Patent Prosecution and
Maintenance 
 11.1 BIND Prosecution and Maintenance. 

(a) BIND will have the sole right to Prosecute and Maintain the BIND Background Patents, and Amgen will have no rights with respect
thereto. 
 (b) Other than with respect to Product Specific Patents and BIND Program IP that constitutes Joint Program IP, BIND
will have the first right, at its sole expense, to Prosecute and Maintain BIND Program IP. BIND will regularly provide Amgen with copies of all Patent applications within the BIND Program IP, and all other material submissions and correspondence
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regarding the foregoing, in sufficient time to allow for review and comment by Amgen. In addition, BIND will provide Amgen and its counsel with an opportunity to consult with BIND and its counsel
regarding Prosecution and Maintenance of any of the foregoing and BIND will use reasonable efforts to address concerns raised by Amgen with respect to the Prosecution and Maintenance of Patents that include Product Candidate Claims. Subject to the
foregoing, in the event of any disagreement between BIND and Amgen, BIND will have the final decision-making authority with respect to the matter involved as long as BIND acts in good faith. 

(c) For any Patent within BIND Program IP having a specification that could reasonably support and enable a composition-of-matter claim,
a method of manufacturing claim or a method-of-use claim in each case covering only a particular Product Candidate or a particular Licensed Product, the following will apply: to the extent consistent with reasonable practices in the Prosecution and
Maintenance of Patents generally, upon Amgen’s reasonable written request and provided that BIND reasonably agrees with Amgen that the following Prosecution and Maintenance activities would not materially harm any Patents within the BIND
Program IP or BIND Background IP, BIND will file a U.S. continuation, continuation-in-part or divisional of such Patent seeking issuance of such composition-of-matter, method of manufacture or method-of-use claim scope (and no other claim scope)
(each a “Product Specific Patent”). Each such Product Specific Patent will be and remain part of the “BIND Program IP” hereunder. If and at such time as Amgen no longer has an exclusive license to all of the claim scope of any
such Product Specific Patent, then such Product Specific Patent will no longer be treated as such hereunder (although it may remain part of the BIND Program IP). Amgen acknowledges and agrees that BIND may grant substantially similar rights to other
exclusive Third Party licensees under any BIND Background Technology and BIND Program IP. 
 11.2 Amgen Prosecution and
Maintenance. 
 (a) Amgen will have the sole right to Prosecute and Maintain the Amgen Background Patents, and BIND will
have no rights with respect thereto. 
 (b) Other than with respect to Amgen Program IP that constitutes Joint Program IP, Amgen
will have the first right, at its sole expense, to Prosecute and Maintain Amgen Program IP and Product Specific Patents. Amgen will regularly provide BIND with copies of all Patent applications within the Product Specific Patents, and all other
material submissions and correspondence with any Patent authorities regarding the foregoing, in sufficient time to allow for review and comment by BIND. In addition, Amgen will provide BIND and its counsel with an opportunity to consult with Amgen
and its counsel regarding Prosecution and Maintenance of Product Specific Patents and Amgen will use reasonable efforts to address concerns raised by BIND. Subject to the foregoing, in the event of any disagreement between BIND and Amgen, Amgen will
have the final decision-making authority with respect to the matter involved as long as Amgen acts in good faith. 
 11.3
Cooperation. Each Party will reasonably cooperate with the other Party in the Prosecution and Maintenance of the Patents for which it is responsible. Such cooperation will include promptly executing all documents, or requiring inventors,
employees and consultants and agents of such Party and its Affiliates and Sublicensees to execute all documents, as reasonable and appropriate so as to enable the Prosecution and Maintenance of any such Patents in any country. 

11.4 Patent Marking. Amgen will mark, and will cause its Affiliates and Sublicensees to mark, Licensed Product with all BIND
Background Patents in accordance with the patent laws of the jurisdictions in which Licensed Product is manufactured, used or sold. Amgen’s marking obligations under this Section 11.4 will continue for as long as Amgen is licensed to such
Patent. 
 11.5 Patent Extensions. If any election for Patent term restoration or extension, supplemental protection
certificate or any of their equivalents may be made with respect to any BIND Program IP or any BIND Background Patents (other than any Product Specific Patents) based on any Licensed Product, 

  

					
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after consultation with Amgen, BIND will have the sole right to decide whether or not to take such action. Amgen will not seek to restore or extend any Patents within the BIND Program IP or any
BIND Background Patents, except that, after consultation with BIND, Amgen will have the right to decide whether or not to take such action with respect to any Product Specific Patent. 

11.6 Orange Book Patent Listings. With respect to any Patent listings required for any regulatory exclusivity periods for Licensed
Products anywhere in the Territory, the Parties will agree on which (if any) BIND Program IP or any BIND Background Patents to list. Amgen will not seek to list any Patents within the BIND Program IP or any BIND Background Patents, without the prior
written consent of BIND, except that, after consultation with BIND, Amgen will have the right to decide whether or not to so list any Product Specific Patent. 
 Section 12. Patent Enforcement and Defense. 
 12.1 Notice. Each
Party will notify the other Party in writing of any actual or suspected Competitive Infringement of any Product Candidate Claims by a Third Party, or of any claim of invalidity, unenforceability, or non-infringement of any Product Candidate Claims,
and will, along with such notice, supply the other Party with any evidence in its Control pertaining thereto. For purposes of this Agreement, “Competitive Infringement” means any allegedly infringing activity with respect to a Product
Candidate Claim that falls within the scope of the exclusive license granted by BIND to Amgen as set forth in Section 8.2. 

12.2 Enforcement and Defense. 
 (a) Competitive Infringement. As between the Parties, Amgen will have the first right, but not the obligation, to seek to abate any actual or suspected Competitive Infringement of any Product
Candidate Claims by a Third Party, or to file suit against any such Third Party for such Competitive Infringement. If Amgen does not take steps to abate the any such Competitive Infringement, or file suit to enforce the Product Candidate Claims
against such Third Party with respect to such Competitive Infringement, within a commercially reasonably time, BIND will have the right (but not the obligation) to take action to enforce the Product Candidate Claims against such Third Party for such
Competitive Infringement. The controlling Party will pay all its Patent Costs incurred for such enforcement. Neither Party will exercise any of its enforcement rights under this Section 12.2(a) without first consulting with the other Party,
provided that this consultation requirement will not limit each Party’s rights under this Section 12.2(a). 

  

					
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 (b) Defense. As between the Parties, Amgen will have the first right, but not the
obligation, to defend against a declaratory judgment action or other action challenging any Product Specific Patents, other than with respect to any counter-claims in any enforcement action, or any action by a Third Party in response to an
enforcement action brought by BIND pursuant to Section 12.2(a), which defense will be controlled by BIND. If Amgen does not take steps to defend within a commercially reasonably time, BIND will have the right (but not the obligation) to so
defend. The controlling Party will pay all its Patent Costs incurred for such defense. 
 (c) Withdrawal, Cooperation and
Participation. With respect to any infringement or defensive action identified above in this Section 12.2: 
 (i) If the controlling Party ceases to pursue or withdraws from such action, it will notify the other Party and such other Party may substitute itself for the withdrawing Party and proceed under the terms
and conditions of this Section 12.2. 
 (ii) The non-controlling Party will cooperate with the Party
controlling any such action (as may be reasonably requested by the controlling Party), including (a) providing access to relevant documents and other evidence, (b) making its and its Affiliates and licensees (including Sublicensees) and
all of their respective employees, consultants and agents available at reasonable business hours and for reasonable periods of time, but only to the extent relevant to such action, and (c) if necessary, by being joined as a party, subject for
this clause (c) to the controlling Party agreeing to indemnify such non-controlling Party for its involvement as a named party in such action and paying those Patent Costs incurred by such Party in connection with such joinder. The Party
controlling any such action will keep the other Party updated with respect to any such action, including providing copies of all documents received or filed in connection with any such action. 

(iii) Each Party will have the right to participate or otherwise be involved in any such action controlled by the other
Party, in each case at the participating Party’s sole cost and expense. If a Party elects to so participate or be involved, the controlling Party will provide the participating Party and its counsel with an opportunity to consult with the
controlling Party and its counsel regarding the prosecution of such action (including reviewing the contents of any correspondence, legal papers or other documents related thereto), and the controlling Party will take into account reasonable
requests of the participating Party. 
 (d) Settlement. Amgen shall not enter into any settlement of any claim described
in this Section 12.2 that admits to the invalidity, narrowing of scope or unenforceability of the Patents that are the subject of the license grants under Sections 8.1 and 8.2 or this Agreement, incurs any financial liability on the part of
BIND or requires an admission of liability, wrongdoing or fault on the part of BIND without BIND’s prior written consent. BIND shall not enter into any settlement of any claim described in this Section 12.2 that admits to the invalidity,
narrowing of scope or unenforceability of the Patents that are the subject of the license grants under Sections 8.1 and 8.2 or this Agreement in a manner or to an extent that limits the scope of rights granted to Amgen under Section 8.1 or
Section 8.2, incurs any financial liability on the part of Amgen or requires an admission of liability, wrongdoing or fault on the part of Amgen without Amgen’s prior written consent. If a Party has joined the legal action, it shall
consent to such settlement proposed by the other Party and execute any documents or take such actions necessary to effect a settlement that comports with the requirements of this Section 12.2(d). 

(e) Damages. Unless otherwise agreed by the Parties, all monies recovered upon the final judgment or settlement of any action
described in Section 12.2(a), or any action described in Section 12.2(b), will be used: (i) first, to reimburse each of the Parties on a pro rata basis for each of their out-of-pocket costs and expenses relating to the action;
and (ii) second, [***] to the controlling Party and [***] to the other Party. 
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
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 12.3 Other Patents. Other than as provided under Section 10.2(c) and
Sections 12.2(a) and 12.2(b), BIND will have the sole right to enforce and defend (i) the Patents within the BIND Program IP and (ii) the BIND Background Patents, and Amgen will have no rights with respect thereto. Amgen will have the sole
right to enforce and defend (i) the Patents within the Amgen Program IP other than the Amgen Program IP that constitutes Joint Program IP and (ii) the Amgen Background Patents, and BIND will have no rights with respect thereto. 

Section 13. Confidential Information and Publicity. 
 13.1 Confidentiality. 
 (a) Confidential Information. Except as
expressly provided herein, each of the Parties agrees that, for itself and its Affiliates, and until the later to occur of (i) the fifteenth anniversary of the Effective Date and (ii) the fifth anniversary of the termination or expiration
of this Agreement, a Party and its Affiliates (the “Receiving Party”) receiving Confidential Information of the other Party or its Affiliates (the “Disclosing Party”) will (i) not disclose such Confidential
Information to any Third Party without the prior written consent of the Disclosing Party, except for disclosures expressly permitted below, and (ii) not use such Confidential Information for any purpose except those (sub)licensed or otherwise
authorized or permitted by this Agreement. For purposes of this Agreement, “Confidential Information” means (1) all Materials and (2) all ideas and information of any kind, whether in written, oral, graphical, machine-readable or
other form, whether or not marked as confidential or proprietary, which are transferred, disclosed or made available by Disclosing Party or at the request of Receiving Party, including any of the foregoing of Third Parties. Without limiting the
foregoing, BIND Background Technology, BIND Program IP, BIND Regulatory Data will be considered Confidential Information of BIND, and Amgen Program IP and Amgen Regulatory Data will be considered Confidential Information of Amgen. Joint Program IP
will be considered the Confidential Information of both Parties, provided that each Party will have the right to freely disclose Joint Program IP. 
 (b) Exceptions. The obligations in Section 13.1(a) will not apply with respect to any portion of the Confidential Information that the Receiving Party can show by competent proof: 

(i) is publicly disclosed by the Disclosing Party, either before or after it is disclosed to the Receiving Party
hereunder; 
 (ii) was known to the Receiving Party or its Affiliates, without any obligation to keep it
confidential or any restriction on its use, prior to disclosure by the Disclosing Party; 
 (iii) is subsequently
disclosed to the Receiving Party or its Affiliates by a Third Party lawfully in possession thereof and without any obligation to keep it confidential or any restriction on its use; 

(iv) is published by a Third Party or otherwise becomes publicly available or enters the public domain, either before or
after it is disclosed to the Receiving Party; or 
 (v) has been independently developed by employees or
contractors of the Receiving Party or its Affiliates without the aid, application or use of Confidential Information of the Disclosing Party. 
 (c) Authorized Disclosures. The Receiving Party may disclose Confidential Information belonging to the Disclosing Party to the extent (and only to the extent) such disclosure is reasonably
necessary in the following instances: 
 (i) subject to Section 13.2, by either Party in order to comply
with applicable non-patent law (including any securities law or regulation or the rules of a securities exchange) and with judicial process, if in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such
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 (ii) by either Party, in connection with prosecuting or defending
litigation, making regulatory filings, and filing, prosecuting, maintain, defending and enforcing Patents; 

(iii) by Amgen, (A) with respect to all BIND Confidential Information, to its Affiliates, potential or actual
permitted Sublicensees, potential or actual permitted acquirers or assignees under Section 16.1, permitted subcontractors, and each of Amgen and its Affiliates’ respective directors, employees, contractors and agents; and (B) with
respect to the terms of this Agreement, to its investment bankers, investors, and lenders; and 
 (iv) by BIND,
(A) with respect to all Amgen Confidential Information, to its Affiliates, potential or actual permitted acquirers or assignees under Section 16.1, permitted subcontractors, and each of BIND and its Affiliates’ respective directors,
employees, contractors and agents; (B) with respect to the terms of this Agreement, to its investment bankers, investors, and lenders; and (C) with respect to AccurinTM Class Specific Data, to its collaborators and other
(sub)licensees, 
 provided that (1) with respect to Section 13.1(c)(i) or 13.1(c)(ii), where reasonably possible, the Receiving Party
will notify the Disclosing Party of the Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure so as to allow the Disclosing Party adequate time to take whatever action it may deem
appropriate to protect the confidentiality of the information to be disclosed, and (2) with respect to Sections 13.1(c)(iii) and 13.1(c)(iv), each of those named people and entities must be bound prior to disclosure by confidentiality
and non-use restrictions at least as restrictive as those contained in this Section 10 (other than investment bankers, investors and lenders, who must be bound prior to disclosure by commercially reasonable obligations of confidentiality).

 13.2 Terms of this Agreement; Publicity. 
 (a) The Parties agree that the terms of this Agreement will be treated as Confidential Information of both Parties, and thus may be disclosed only as permitted by Section 13.1(c). Each Party agrees
not to issue any press release or public statement disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof without the prior written consent of the other Party (or as such consent may be obtained
in accordance with Section 13.2(b)), which consent will not be unreasonably withheld, or as permitted by Section 13.1(c). 
 (b) In the event either Party (the “Issuing Party”) desires to issue a press release or other public statement disclosing information relating to this Agreement or the transactions
contemplated hereby or the terms hereof, the Issuing Party will provide the other Party (the “Reviewing Party”) with a copy of the proposed press release or public statement (the “Release”). The Reviewing
Party will have three (3) business days to provide any comments on such Release, and if the Receiving Party fails to provide any comments during such three-day period, the Reviewing Party will be deemed to have consented to the issuance of such
Release. If the Receiving Party provides any comments, the Parties will consult on such Release and work in good faith to prepare a mutually acceptable Release. Either Party may subsequently publicly disclose any information previously contained in
any Release so consented to (so long as such information remains accurate). 
 (c) The Parties agree to issue the joint press
release set forth on Exhibit 13.2(c) promptly following the Effective Date. 
 13.3 Publication. Notwithstanding
anything herein to the contrary, either Party may propose publication of the results of the Design/Preclinical Collaboration under this Agreement upon three (3) 

  

					
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months’ notice prior to submission. Additionally, Amgen shall have the sole right to make publications with respect to the further Development or Commercialization of Product Candidates and
Licensed Products. Both Parties understand that a reasonable commercial strategy may require delay of publication of information or filing of Patent applications, therefore the Parties agree to review and consider delay of publication and filing of
patent applications under certain circumstances. Once publications have been reviewed by each Party and have been approved for publication, the same publications do not have to be provided again to the other Party for review for a later submission
for publication. Expedited reviews for abstracts or poster presentations may be arranged if mutually agreeable to the Parties. Each Party also will have the right to require that its Confidential Information that would be disclosed in any such
proposed publication be deleted prior to such publication. Each Party will acknowledge the other Party’s contributions in any such publication unless otherwise instructed. Notwithstanding anything herein to the contrary, BIND shall be entitled
to present or publish data and results relating to Product Candidates without the prior approval of Amgen; provided that such disclosure does not reveal the use of AMG-208 or that such results were obtained as part of a collaboration with Amgen.

 13.4 Relationship to the Confidentiality Agreement. This Agreement supersedes the Confidentiality Agreement, provided
that all “Confidential Information” disclosed or received by the Parties thereunder will be deemed “Confidential Information” hereunder and will be subject to the terms and conditions of this Agreement. 

Section 14. Warranties; Limitations of Liability; Indemnification. 
 14.1 BIND Representations and Warranties. BIND represents and warrants to Amgen that as of the Effective Date: 
 (a) BIND is a corporation duly organized, validly existing and in good standing under the laws of state or jurisdiction in which it is incorporated, and it has full right and authority to enter into this
Agreement and to grant the (sub)licenses and other rights to Amgen as herein described. 
 (b) This Agreement has been duly
authorized by all requisite corporate action, and when executed and delivered will become a valid and binding contract of BIND enforceable against BIND in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and
other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 
 (c)
The execution, delivery and performance of this Agreement does not conflict with any other agreement, contract, instrument or understanding, oral or written, to which BIND is a party, or by which it is bound, nor will it violate any law applicable
to BIND. 
 (d) All necessary consents and approvals of all regulatory and governmental authorities and other persons or
entities required to be obtained by BIND in connection with the execution and delivery of this Agreement and the performance of its obligations hereunder have been obtained. 
 (e) The BIND Third Party License Agreements remain in full force and effect and BIND is in compliance in all material respects with the terms of each of the BIND Third Party License Agreements, and all
necessary consents, approvals, and authorizations under the BIND Third Party License Agreements required to be obtained by the other party thereto in order to enter into this Agreement have been obtained. 

(f) Other than under the BIND Third Party License Agreements, none of the BIND Background Patents are in-licensed from a Third Party.

 (g) BIND or its Affiliates have full legal or beneficial title, or license or similar rights, to the BIND Background
Technology as is necessary to grant the licenses to Amgen to such the BIND Background Technology that BIND purports to grant pursuant to this Agreement. 
 (h) The Patents included in the BIND Background Patents are not subject to any liens or encumbrances and BIND has not granted to any Third Party any rights or licenses under such BIND Background Patents
or BIND Background Know-How that would conflict with the licenses granted to Amgen hereunder. 

  

					
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 (i) No Third Party has made any claim or allegation to BIND or its Affiliates in writing
that a Third Party has any right or interest in or to the BIND Background Technology. 
 (j) BIND has no knowledge of any claim
or litigation that has been brought or threatened in writing by any Third Party alleging that the BIND Background Patents are invalid or unenforceable. 
 (k) BIND has not, and shall not during the Term, grant any right to any Third Party which would conflict in any material respect with the rights granted to Amgen hereunder. For avoidance of doubt, the
grant by BIND of rights to a Third Party to Develop and Commercialize a nanotherapeutic product, the intended therapeutic effect of which is reasonably anticipated to derive primarily from modulation of the activity of a receptor other than Cmet,
shall not constitute a breach by BIND of this Section 14.1(k). Additionally, BIND shall not during the Term amend or otherwise modify the definition of either BIND Field or Selecta Field (as such terms are defined in the Selecta Cross-License
Agreement) in a manner that would reasonably be likely to cause a Product Candidate, Licensed Candidate or Licensed Product to be excluded from the BIND Field (as such term is currently defined). 

(l) To BIND’s knowledge, the Development and Commercialization of Product Candidates or Licensed Products (excluding the Amgen Drug
Candidate) using BIND Background Technology as contemplated by this Agreement would not violate, infringe or misappropriate any intellectual property or proprietary right of any Third Party based solely on such use of BIND Background Technology.

 14.2 Amgen Representations and Warranties. Amgen represents and warrants to BIND that as of the Effective Date:

 (a) Amgen is a corporation duly organized, validly existing and in good standing under the laws of state in which it is
incorporated, and it has full right and authority to enter into this Agreement and to accept the rights and (sub)licenses granted as herein described. 
 (b) This Agreement has been duly authorized by all requisite corporate action, and when executed and delivered will become a valid and binding contract of Amgen enforceable against Amgen in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization and other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 

(c) The execution, delivery and performance of this Agreement do not conflict with any other agreement, contract, instrument or
understanding, oral or written, to which Amgen is a party, or by which it is bound, nor will it violate any law applicable to Amgen. 
 (d) All necessary consents and approvals of all regulatory and governmental authorities and other persons or entities required to be obtained by Amgen in connection with the execution and delivery of this
Agreement and the performance of its obligations hereunder have been obtained. 
 14.3 Disclaimer. 

(a) EXCEPT AS EXPRESSLY SET FORTH HEREIN, NEITHER BIND NOR AMGEN MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING
WARRANTIES OF VALIDITY OR ENFORCEABILITY OF ANY PATENT RIGHTS, TITLE, QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, PERFORMANCE, AND NONINFRINGEMENT OF ANY THIRD PARTY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS. 

(b) Amgen acknowledges that JHU has not warranted to BIND under the JHU Licensed Agreement as to the validity of any patents or that
practice under such patents shall be free of infringement. AMGEN, ITS AFFILIATES AND ITS SUBLICENSEE(S) AGREE THAT THE JHU 

  

					
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PATENTS WERE PROVIDED TO BIND “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE JHU PATENTS OR ANY OTHER INTELLECTUAL PROPERTY RIGHTS OR THE PERFORMANCE OF
LICENSED PRODUCT(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. JHU DISCLAIMED ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICE(S) LICENSED UNDER THE JHU LICENSE AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES,
EXPRESSED OR IMPLIED, OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. JHU ADDITIONALLY DISCLAIMED ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS FOR DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL, AND
CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S) AND
SERVICE(S) LICENSED UNDER THE JHU LICENSE AGREEMENT, EXCEPT TO THE EXTENT THAT SUCH OBLIGATIONS, LIABILITIES AND DAMAGES ARISE OUT OF JHU’S EXERCISE OF ITS RETAINED RIGHTS UNDER SECTION 8.8(b) OF THIS AGREEMENT. AMGEN, ITS AFFILIATES AND ITS
SUBLICENSEE(S) ACKNOWLEDGE THAT JHU WILL HAVE NO RESPONSIBILITY OR LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT AND/OR SERVICE MANUFACTURED, USED, OR SOLD BY AMGEN, ITS AFFILIATES AND ITS SUBLICENSEE(S) WHICH IS A LICENSED PRODUCT. Nothing
contained in the foregoing shall in any way limit BIND’s obligations or liabilities to Amgen under this Agreement, and JHU’s disclaimer of warranty does not limit the representations or warranties made by BIND under this Agreement.

 14.4 Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER PARTY WILL BE LIABLE TO
THE OTHER OR ANY THIRD PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN INFORMED OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED,
HOWEVER, THAT THIS SECTION 14.4 WILL NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER SECTIONS 14.6(a), 14.6(b) AND 14.6(c). 
 14.5 Performance by Others. The Parties recognize that each Party may perform some or all of its obligations or exercise some or all of its rights under this Agreement through Affiliates and
permitted subcontractors; provided, however, that each Party will remain responsible and liable for the performance by its Affiliates and permitted subcontractors and will cause its Affiliates and permitted subcontractors to comply with the
provisions of this Agreement in connection therewith. 
 14.6 Indemnification. 

(a) Amgen Indemnity. Amgen hereby agrees to indemnify, defend and hold harmless BIND and its Affiliates, MIT, Brigham, GIST and
their respective trustees, officers, faculty, students, employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“BIND Indemnitees”) from and against any liability, damage, loss,
cost or expense (including reasonable attorney’s fees, costs and expenses) (collectively, “Losses”) incurred by or imposed upon any of the BIND Indemnitees in connection with any Third Party claims, suits, actions, demands or
judgments arising out of any theory of liability (including actions in the form of tort, warranty, or strict liability and regardless of whether such action has any factual basis) concerning (i) the research, Development or Commercialization of
any Product Candidates or Licensed Products by Amgen or any of its Affiliates or Sublicensees, or the exercise of any (sub)license or other right granted to Amgen under this Agreement (including any such Third Party claims relating to any alleged
infringement or misappropriation of Patents or other intellectual property rights based on any of the foregoing and any use of Material provided by BIND pursuant to Section 2.2); (ii) the material breach by Amgen of any term of

  

					
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this Agreement or the representations and warranties made hereunder by Amgen or any violation by Amgen or any of its Affiliates or Sublicensees of applicable law; (iii) any such Third Party
claims relating to any alleged infringement or misappropriation of Patents or other intellectual property rights as part of the Design/Preclinical Collaboration based on use of Amgen Drug Candidate or Patents, Know-How or Confidential Information
provided by Amgen; or (iv) any gross negligence or willful misconduct on the part of Amgen in performing its obligations under this Agreement, except to the extent that such Losses arise from clause (i) or (ii) of
Section 14.6(b). 
 (b) Amgen Indemnity to JHU. Amgen, its Affiliates and Sublicensees shall indemnify, defend with
counsel reasonably acceptable to JHU, and hold JHU, The Johns Hopkins Health Systems, their present and former trustees, officers, Inventors of JHU Patents, agents, faculty, employees and students harmless as against any judgments, fees, expenses,
or other costs arising from or incidental to any product liability or other lawsuit, claim, demand or other action brought by a third party as a consequence of the practice of Product Candidates or Licensed Products by any of the foregoing
indemnifying entities, whether or not JHU or said Inventors, either jointly or severally, is named as a party defendant in any such lawsuit and whether or not JHU or the Inventors are alleged to be negligent or otherwise responsible for any injuries
to persons or property. Amgen shall be responsible for the actions of any third party acting on behalf of or for the account of Amgen or by a third party who purchases Licensed Products from Amgen. The obligation of Amgen to defend and indemnify as
set out in this Section 14.6(b) shall survive the termination of this Agreement, shall continue even after assignment of rights and responsibilities to an Affiliate or Sublicensee, and shall not be limited by any other limitation of liability
elsewhere in this Agreement. 
 (c) BIND Indemnity. BIND hereby agrees to indemnify and hold Amgen, its Affiliates and
Sublicensees, and their respective officers, employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“Amgen Indemnitees”) harmless from and against all Losses arising from any
Third Party claim due to (i) the material breach by BIND of any term of this Agreement or the representations and warranties made hereunder by BIND or any violation by BIND or any of its Affiliates of applicable law; or (ii) any gross
negligence or willful misconduct on the part of BIND in performing its obligations under this Agreement, except to the extent that such Losses arise from clause (i), (ii), (iii) or (iv) of Section 14.6(a). 

(d) Indemnification Procedure. A claim to which indemnification applies under Section 14.6(a), Section 14.6(b) or
Section 14.6(c) will be referred to herein as a “Claim”. If any person or entity (each, an “Indemnitee”) intends to claim indemnification under this Section 14.6, the Indemnitee will notify the other Party
(the “Indemnitor”) in writing promptly upon becoming aware of any claim that may be a Claim (it being understood and agreed, however, that the failure by an Indemnitee to give such notice will not relieve the Indemnitor of its
indemnification obligation under this Agreement except and only to the extent that the Indemnitor is actually prejudiced as a result of such failure to give notice). The Indemnitor will have the right to assume and control the defense of such Claim
at its own cost and expense with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee; provided, however, that an Indemnitee will have the right to retain its own counsel, with the fees, costs and expenses to be paid by the
Indemnitee, if representation of such Indemnitee by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party represented by such counsel in such
proceedings. If the Indemnitor does not assume the defense of such Claim as aforesaid, the Indemnitee may defend such Claim but will have no obligation to do so. The Indemnitee will not settle or compromise any Claim without the prior written
consent of the Indemnitor. The Indemnitor shall not settle any such claim without the prior written consent of the Indemnitee if such settlement does not include a complete release from liability or if such settlement would involve undertaking an
obligation (including the payment of money by the Indemnitee), would bind or impair the Indemnitee, or includes any admission of wrongdoing or that any intellectual property or proprietary right of the Indemnitee or this Agreement is invalid,
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unenforceable. The Indemnitee will reasonably cooperate with the Indemnitor at the Indemnitor’s sole cost and expense and will make available to the Indemnitor all pertinent information
under the Indemnitee’s control, which information will be subject to Section 13.1. 

  

					
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 14.7 Insurance. 

(a) Before the first human use of a Licensed Product in the Field, Amgen will obtain and carry in full force and effect commercial
general liability insurance, including product liability and errors and omissions insurance which will protect Amgen and BIND lndemnitees with respect to events covered by Section 14.6(a). Such insurance (i) will be issued by an insurer
licensed to practice in the Commonwealth of Massachusetts or an insurer pre-approved by MIT, such approval not to be unreasonably withheld, (ii) will list BIND, MIT, Brigham and GIST as additional insureds thereunder, (iii) will be
endorsed to include product liability coverage, and (iv) will require thirty (30) days written notice to be given to BIND prior to any cancellation or material change thereof. The limits of such insurance will not be less than [***] per
occurrence with an aggregate of [***] for bodily injury including death; [***] per occurrence with an aggregate of [***] for property damage; and [***] per occurrence with an aggregate of [***] for errors and omissions. In the alternative, Amgen may
self-insure subject to prior approval of MIT and its Risk Management Foundation. Amgen will provide BIND with Certificates of Insurance evidencing compliance with this Section. Amgen will continue to maintain such insurance or self-insurance during
any period in which Amgen or any Affiliate or Sublicensee continues to make, use, or sell a product that is or was a Licensed Product under this Agreement, and thereafter for a period of five (5) years. If there is a cancellation or material
change in insurance, and Amgen does not obtain replacement insurance providing comparable coverage prior to the expiration of the thirty (30) day notice period described above, BIND will have the right to terminate this Agreement effective at
the end of such thirty (30) day period without notice or any additional waiting periods. For clarity, this termination clause applies to any material changes in the following terms: (i) Commercial general liability insurance in amounts not
less [***]; (ii) the naming of indemnitees as additional insureds; and (iii) product liability coverage and broad form contractual liability coverage for the company’s indemnification under Section 14.6(a). 

(b) Prior to initial human testing or first commercial sale of any Licensed Products as the case may be in any particular country, Amgen
shall establish and maintain for a reasonable time period thereafter, in each country in which Amgen, an Affiliate or Sublicensee shall test or sell Licensed Products product liability or other appropriate insurance coverage in the minimum amount of
[***] per claim and will annually present evidence to JHU that such coverage is being maintained. Upon JHU’s request, Amgen will furnish JHU with a Certificate of Insurance of each product liability insurance policy obtained. JHU shall be
listed as an additional insured in Amgen’s said insurance policies. If such Product Liability insurance is underwritten on a ‘claims made’ basis, Amgen agrees that any change in underwriters during the Term of this Agreement will
require the purchase of ‘prior acts’ coverage to ensure that coverage will be continuous throughout the Term of this Agreement. 
 (c) BIND hereby agrees to seek waivers from MIT and JHU to the insurance requirements under the MIT License Agreement and the JHU License Agreement, respectively, to permit Amgen to self-insure against
risks related to the Development and Commercialization of Licensed Candidates and Licensed Products in accordance with its usual practices relating to other pharmaceutical products. 
 Section 15. Term, Termination and Survival. 
 15.1 Term. This
Agreement will commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual written consent, will continue on a country-by-country and Licensed Product-by-Licensed Product basis until the end of
the period during which royalties are due hereunder on Net Sales of such Licensed Product in such country (the longest such period of time for any Licensed Products hereunder, the “Term”). Upon the end of such period for such

  
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
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Licensed Product in such country, the (sub)license grants contained in Section 8.2 will become perpetual, irrevocable and fully paid up with respect to such Licensed Product in such country.
Notwithstanding anything herein to the contrary, if Amgen fails to deliver to BIND an Option Notice before the end of the Amgen Option Period or fails to pay the Option Fee timely as required under Section 9.2, this Agreement will terminate
automatically, effective as of the end of the Amgen Option Period or the defaulted payment date, respectively. 
 15.2
Termination Rights. 
 (a) Material Breach. Either Party will have the right to terminate this Agreement in full
upon delivery of written notice to the other Party in the event of any breach in the performance by such other Party of any of such other Party’s material obligations under this Agreement (including for example, the Parties’ respective
obligations under Section 2.1(c) and Amgen’s obligations under Section 5.2(a)), provided that such breach has not been cured within ninety (90) days, or, in the event such breach results in a failure to make payment when due
hereunder, thirty (30) days, after written notice thereof is given by the non-breaching Party to the breaching Party specifying the nature of the alleged breach, provided the Parties will take all reasonable steps to resolve the matter during
the applicable cure period. 
 (b) Termination for Convenience by Amgen. Amgen may terminate this Agreement in full for
any reason effective upon one (1) year prior written notice to BIND. 
 (c) Termination by BIND for IP Challenge.
BIND will have the right to terminate this Agreement in full upon written notice to Amgen in the event that Amgen or any of its Affiliates or Sublicensees directly or indirectly challenges in a legal or administrative proceeding the patentability,
enforceability or validity of any BIND Background Patents or Patents within BIND Program IP; provided that BIND will not have the right to terminate this Agreement under this Section 15.2(c) for any such challenge by any Sublicensee if such
challenge is dismissed within thirty (30) days of BIND’s notice to Amgen under this Section 15.2(c) and not reinstituted or continued. 
 (d) Termination for Insolvency. To the extent permitted by law, upon the filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings, or upon an assignment of a
substantial portion of the assets for the benefit of creditors (a “Bankruptcy Event”) by either Party, BIND, in the case of a Bankruptcy Event by Amgen, or Amgen, in the case of a Bankruptcy Event by BIND, may terminate this
Agreement; provided, however, that, in the case of any involuntary bankruptcy proceeding, such right to terminate will only become effective if the subject Party consents to the involuntary bankruptcy or such proceeding is not dismissed within
ninety (90) days after the filing thereof. Each Party will retain and may fully exercise all of its rights and elections under the US Bankruptcy Code and foreign equivalents, including that upon commencement of a bankruptcy proceeding by
or against such Party undergoing a bankruptcy proceeding (the “Affected Party”) under the US Bankruptcy Code or foreign equivalents, the non-Affected Party will be entitled to complete duplicates of or complete access to, as such
non-Affected Party deems appropriate, any Know-How and Patent and other intellectual property rights and all embodiments hereof (sub)licensed or to be transferred to such non-Affected Party hereunder by the Affected Party. Such Know-How, rights and
embodiments will be promptly delivered to the non-Affected Party (i) upon any such commencement of a bankruptcy proceeding and upon written request thereof by the non-Affected Party, unless the Affected Party elects to continue to perform all
of its obligations under this Agreement, or (ii) if not delivered under the foregoing clause (i), upon the rejection of this Agreement by or on behalf of the Affected Party upon written request therefore by the non-Affected
Party. This Section 15.2(d) is without prejudice to any rights the non-Affected Party may have arising under the US Bankruptcy Code, foreign equivalents or other law. 

  

					
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 15.3 Effect of Termination. 

(a) Upon termination of this Agreement for any reason: 

(i) All (sub)licenses and other rights granted to Amgen under this Agreement will terminate. Amgen and its Affiliates and
Sublicensees will cease all use of BIND Background Technology and BIND Program IP, and all research, Development and Commercialization of any Product Candidates or Licensed Products. All manufacturing agreements between the Parties shall
automatically terminate; and 
 (ii) Should Amgen or any of its Affiliates or Sublicensees have any inventory of
any Licensed Product, each of them will have [***] thereafter in which to dispose of such inventory (subject to the payment to BIND of any royalties due hereunder thereon). 
 (b) Additionally, upon termination of this Agreement other than by Amgen pursuant to Section 15.2(a): 
 (i) All Amgen Regulatory Data, Clinical Data, Regulatory Documentation (including all Regulatory Approvals) and other documents relating to or necessary to further Develop, Manufacture and Commercialize
all Licensed Candidates and Licensed Products, and to advance all Product Candidates, as such data and documents exist as of the effective date of such termination (including all related completed and ongoing clinical studies), and all of
Amgen’s and its Affiliates’ and Sublicensees’ right, title and interest therein and thereto, will be assigned to BIND or its designee, and Amgen will provide to BIND or its designee one (1) copy of the foregoing data and
documentation and all documents and filings contained in or referenced in any such data and documentation, together with the raw and summarized data for any such clinical studies (and where reasonably available, electronic copies thereof). In the
event of failure to obtain assignment, Amgen hereby consents and grants to BIND and its Affiliates the right to access and reference (without any further action required on the part of Amgen, whose authorization to file this consent with any
Regulatory Authority is hereby granted) any and all such data and documentation for any regulatory or other use or purpose; 
 (ii) Amgen will grant (without any further action required on the part of Amgen) to BIND and its Affiliates a worldwide, royalty free, fully paid-up perpetual and irrevocable license, with the right to
grant sublicenses through multiple tiers, in the Field and Territory (A) on an exclusive (even as to Amgen) basis, under all Amgen Program IP, and (B) on a non-exclusive basis, under all Patents, Know-How and Materials owned or in-licensed
by Amgen or any of its Affiliates or Sublicensees, only to the extent necessary to Develop, Manufacture and Commercialize, in each case Licensed Candidates and Licensed Products, and within thirty (30) days of such termination Amgen will
provide to BIND a list (with chemical structures) of all such Patents and Know-How subject to the foregoing license). With respect to grants of a sublicense under any of the foregoing in-licensed by Amgen or any of its Affiliates or Sublicensees
under clause (B) above, BIND will be responsible for all amounts payable to the applicable licensor that are attributable to BIND as a sublicensee thereunder under this Agreement, and Amgen will pay same and BIND will reimburse Amgen for one
hundred percent (100%) of such payments within thirty (30) days of receipt of Amgen’s written invoice therefor. The Prosecution and Maintenance and enforcement and defense rights and obligations of the Parties with respect to any
Patents licensed or sublicensed to BIND pursuant to this Section 15.3(b)(ii) will be discussed and agreed to by the Parties, with the understanding that such Prosecution and Maintenance and enforcement and defense rights and obligations will be
substantially similar to those set forth in Section 11 and Section 12, with the roles of BIND and Amgen reversed (and such other changes as are appropriate from the context, and taking into account any rights retained by a Third Party
licensor of Amgen or any of its Affiliates or Sublicensees to Prosecute and Maintain or enforce and defend any Patent sublicensed to BIND under this Section 15.3(b)(ii)); and 

(iii) For any Licensed Product launched commercially before such termination, Amgen will grant (without any further action
required on the part of Amgen) to BIND and its Affiliates a worldwide, royalty free, fully paid-up perpetual and irrevocable license, with the right to grant sublicenses through multiple tiers, any registered or unregistered trademarks or internet
domain names that are specific to and solely used for the Licensed Product in the Territory (it being understood that the foregoing will not include any trademarks or internet domain names that contain the corporate or business name(s) of Amgen).

  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  

					
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 (c) Notwithstanding anything contained herein to the contrary, upon expiration of the
last to expire Valid Claim of any Patent issued in the Territory that has been licensed to Amgen by BIND under Sections 8.1 and 8.2, Amgen’s obligations under Section 15.3(b) shall expire in full. 

15.4 Survival. In addition to the termination consequences set forth in Section 15.3, the following provisions will
survive expiration or termination of this Agreement for any reason, as well as any other provision which by its terms or by the context thereof, is intended to survive such termination: Sections 1, 13, 14 and 16 and Sections 2.2(c), 4.2 (for a
period of ninety (90) days), 8.3(a)(ii), 9.8(d), 10.2(a) (with respect to Amgen’s obligation to cooperate as set forth in the last sentence of that section), 10.2(b) (with respect to BIND’s obligation to cooperate as set forth in the
last sentence of that section), 10.2(c)(ii), 10.2(c)(iii)(B), 11.3 and this 15.4. Expiration or termination of this Agreement for any reason will not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective
date of such termination or expiration, nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equityError! Reference source not found., with respect to any breach of this Agreement
nor prejudice either Party’s right to obtain performance of any obligation. All other rights and obligations will terminate upon expiration or termination of this Agreement. 
 Section 16. General Provisions. 
 16.1 Assignment. Neither Party
may assign this Agreement, delegate its obligations or otherwise transfer (sub)licenses or other rights created by this Agreement, except as expressly provided hereunder or otherwise without the prior written consent of the other Party (which
consent will not be unreasonably withheld); provided that (i) Amgen may assign this Agreement to an Affiliate or to its successor in connection with the merger, consolidation, or sale of all or substantially all of its assets, and
(ii) BIND may assign this Agreement to an Affiliate or to its successor in connection with the merger, consolidation, or sale of all or substantially all of its assets or that portion of its business pertaining to the subject matter of this
Agreement. Any assignment or transfer in violation of this Section 16.1 will be void. This Agreement will inure to the benefit of, and be binding upon, the legal representatives, successors and permitted assigns of the Parties. 

16.2 Force Majeure. Neither Party will be held liable or responsible to the other Party nor be deemed to have breached this
Agreement for failure or delay in fulfilling or performing any term of this Agreement (other than any obligation to pay monies) if, but only to the extent that, such failure or delay results from causes beyond the reasonable control of the affected
Party, potentially including fire, floods, embargoes, terrorism, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in
acting by any governmental authority or any other person or entity; provided that the Party affected will promptly notify the other of the force majeure condition and will exert reasonable efforts to eliminate, cure or overcome any such causes and
to resume performance of its obligations as soon as possible. 
 16.3 Severability. If any of the provisions contained in
this Agreement is held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby, unless the absence of the
invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties will in such an instance use their reasonable best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable
provision(s) which, insofar as practical, implement the purposes of this Agreement. 

  

					
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 16.4 Amendment; Waiver. This Agreement may not be modified, amended or rescinded,
in whole or part, except by a written instrument signed by the Parties; provided that any unilateral undertaking or waiver made by one Party in favor of the other will be enforceable if undertaken in a writing signed by the Party to be charged with
the undertaking or waiver. No delay or omission by either Party hereto in exercising any right or power occurring upon any breach by the other Party with respect to any of the terms of this Agreement will impair any such right or power or be
construed to be a waiver thereof. A waiver by either of the Parties of any of the covenants, conditions or agreements to be performed by the other will not be construed to be a waiver of any succeeding breach thereof or of any other covenant,
condition or agreement herein contained. 
 16.5 Notices. Except as otherwise provided herein, all notices under this
Agreement will be sent by certified mail or by overnight courier service, postage prepaid, to the following addresses of the respective Parties: 
  

			
	If to Amgen, to:	  	Amgen
		  	One Amgen Center Drive
		  	Thousand Oaks, California 91320
		  	Attention: Corporate Secretary
		
	If to BIND, to:	  	BIND Biosciences, Inc.
		  	325 Vassar Street
		  	Cambridge, Massachusetts 02139
		  	Attention: CEO
		
	With a required copy to:	  	Goodwin Procter LLP
		  	53 State Street
		  	Boston, MA 02109
		  	Attention: Kingsley L. Taft, Esq.

 or to such address as each Party may hereafter designate by notice to the other Party. A notice will be deemed to have
been given on the date it is received by all required recipients for the noticed Party. 
 16.6 Payments. All payments by
Amgen to BIND under this Agreement when owed or paid will be non-refundable and non-creditable and not subject to set-off, except for Section 9.8(d). 
 16.7 Applicable Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York, without regard to its conflicts of law provisions, except as to any issue
which depends upon the validity, scope or enforceability of any Patent, which issue shall be determined in accordance with the laws of the country in which such patent was issued. Each of the Parties hereby irrevocably and unconditionally consents
to submit to the exclusive jurisdiction of the courts of the State of New York for any matter arising out of or relating to this Agreement and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto except in
such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising out of this Agreement or the transactions contemplated hereby in the courts of the State of New York and hereby
further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter
shall be conclusive and may be enforced in other jurisdictions by suits on the judgment or in any other manner provided by law. Any proceeding brought by either Party under this Agreement shall be exclusively conducted in the English language.

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

  

					
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 16.9 Cumulative Remedies and Irreparable Harm. All rights and remedies of the
Parties hereunder will be cumulative and in addition to all other rights and remedies provided hereunder or available by agreement, at law or otherwise. Each Party acknowledges and agrees that breach of any of the terms or conditions of this
Agreement would cause irreparable harm and damage to the other and that such damage may not be ascertainable in money damages and that as a result thereof the non-breaching Party would be entitled to seek from a court equitable or injunctive relief
restraining any breach or future violation of the terms contained herein by the breaching Party without the necessity of proving actual damages or posting bond. Such right to equitable relief is in addition to whatever remedies either Party may be
entitled to as a matter of law or equity, including money damages. 
 16.10 Change of Control. Notwithstanding anything
to the contrary herein, (i) no Know-How, Materials, Patents or other intellectual property rights not owned or controlled by BIND or any of its Affiliates before a Change of Control will be Controlled for purposes of this Agreement after such
Change of Control, other than (1) Program IP no matter when Controlled, (2) any Patent that claims priority, directly or indirectly, to any other Patent first Controlled by BIND before such Change of Control will be Controlled thereafter
no matter when such Patent is filed or issued and (3) any Patent that is Controlled by BIND after a Change of Control that would be infringed by the practice by Amgen, in accordance with the terms of this Agreement, of the licenses granted in
Sections 8.1 and 8.2 and (ii) no assets of BIND or any of its Affiliates, excluding the items listed in clause (1), (2) and (3) above, not owned or in-licensed by BIND or any of its Affiliates before a Change of Control will be
subject to Section 4 or Section 7 and the provisions thereunder. 
 16.11 Relationship of the Parties. Each
Party is an independent contractor under this Agreement. Nothing contained herein is intended or is to be construed so as to constitute BIND and Amgen as partners, agents or joint venturers. Neither Party will have any express or implied right or
authority to assume or create any obligations on behalf of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. There are no express or implied third party beneficiaries
hereunder (except for Amgen Indemnitees other than Amgen and BIND Indemnitees other than BIND for purposes of Section 14.6). 
 16.12 Entire Agreement. This Agreement (along with the Exhibits) and the Design/Preclinical Collaboration Plan contain the entire understanding of the Parties with respect to the subject matter
hereof and supersede and replace any and all previous arrangements and understandings, including the Confidentiality Agreement and the Prior License Agreement, whether oral or written, between the Parties with respect to the subject matter hereof.

 16.13 Headings. The captions to the several Sections hereof are not a part of this Agreement, but are merely guides or
labels to assist in locating and reading the several Sections hereof. 
 16.14 Waiver of Rule of Construction. Each Party
has had the opportunity to consult with counsel in connection with the drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity will be construed against the drafting party will not apply. 

16.15 Interpretation. Whenever any provision of this Agreement uses the term “including” (or “includes”),
such term means “including without limitation” (or “includes without limitations”). “Herein,” “hereby,” “hereunder,” “hereof” and other equivalent words refer to this Agreement as an
entirety and not solely to the particular portion of this Agreement in which any such word is used. All definitions set forth herein will be deemed applicable whether the words defined are used herein in the singular or the plural. Unless otherwise
provided, all references to Sections and Exhibits in this Agreement are to Sections and Exhibits of this Agreement. 

  

					
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 16.16 Counterparts; Facsimiles. This Agreement may be executed in two or more
counterparts, each of which will be deemed an original and all of which together will constitute one and the same instrument. Facsimile execution and delivery of this Agreement by either Party will constitute a legal, valid and binding execution and
delivery of this Agreement by such Party. 
 [Remainder of this Page Intentionally Left Blank] 

  

					
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 IN WITNESS WHEREOF, the Parties have caused this License Agreement to be executed by
their respective duly authorized representatives as of the Effective Date. 
  

			
	BIND BIOSCIENCES, INC.
		
	By:	 	 /s/ Scott Minick

		
	Name:	 	Scott Minick
		
	Title:	 	Chief Executive Officer and President
	
	AMGEN INC.
		
	By:	 	 /s/ Iain Dukes

		
	Name:	 	Iain Dukes, M.D., D.Phil
		
	Title:	 	Vice President, External R&D

  

					
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 EXHIBIT 1.5 

AMGEN BACKGROUND PATENTS 

[***] 
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions.EX-10.16

 Exhibit 10.16 
 CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. 
 CONFIDENTIAL 
 EXECUTION COPY 
 AMENDED AND RESTATED RESEARCH, OPTION AND LICENSE
AGREEMENT 
 This Amended and Restated Research, Option and License Agreement (this “Agreement”), effective
as of March 25, 2013 (the “Effective Date”), and restated as of June 12, 2013, is made by and between BIND Biosciences, Inc., a Delaware corporation (“BIND”), and Pfizer Inc., a Delaware corporation
(“Pfizer”). BIND and Pfizer are sometimes hereinafter referred to each as a “Party” and collectively as the “Parties.” 
 WHEREAS, BIND has been engaged in the development of AccurinsTM based on BIND’s Medicinal Nanoengineering® technology, and owns and otherwise controls patent rights and know-how with respect
thereto; 
 WHEREAS, Pfizer has specialized experience in, among other things, development and commercialization of
pharmaceutical products; 
 WHEREAS, Pfizer desires to collaborate with BIND in the research of Agreement Compounds combining an
AccurinTM with Pfizer Compounds as the basis to develop novel nanomedicines; 
 WHEREAS, Pfizer desires to receive from BIND
an option to obtain an exclusive license under certain of BIND’s intellectual property rights in order to research, develop, manufacture and commercialize Agreement Compounds and Covered Products; 

WHEREAS, BIND and Pfizer entered into a certain Research, Option and License Agreement, dated as of the Effective Date (the
“Prior Agreement”), pursuant to which Pfizer and BIND agreed to collaborate in the research of Agreement Compounds combining an AccurinTM with Pfizer Compounds as the basis to develop novel nanomedicines and BIND granted to
Pfizer an option to obtain an exclusive license under certain of BIND’s intellectual property rights in order to research, develop, manufacture and commercialize Agreement Compounds and Covered Products; and 

WHEREAS, Pfizer and BIND desire to amend the Prior Agreement to make certain changes thereto. 

NOW, THEREFORE, in consideration of the mutual covenants and obligations set forth herein, the Parties hereby agree that the Prior
Agreement is amended and restated in its entirety to read as follows: 
  

	Section 1.	Definitions. 

 For the
purpose of this Agreement, the following words and phrases (and their correlatives) will have the meanings set forth below: 

1.1. “AccurinTM” means a Targeted Nanoparticle incorporating or otherwise based on BIND Technology or the Joint IP,
where a “Targeted Nanoparticle” means any nanoparticle incorporating or otherwise combined with one or more active ingredients, including, for example, an AccurinTM incorporating or combined with a Pfizer Compound. 

 1.2. “Affiliate” of an entity or person means any other entity or person
which (directly or indirectly) is controlled by, controls or is under common control with such entity or person. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”) as used with respect to an entity means (i) in the case of a corporate entity, direct or indirect ownership of voting securities entitled to cast at least fifty
percent (50%) of the votes in the election of directors or (ii) in the case of a non-corporate entity, direct or indirect ownership of at least fifty percent (50%) of the equity interests with the power to direct the management and
policies of such entity. 
 1.3. “Agreement Compound” means any Targeted Nanoparticle incorporating or combined
with a Candidate Compound. 
 1.4. “Agreement Compound Claim” means (i) any claim in any Patent,
(ii) any Know-How or (iii) any other intellectual property right, in each case, that is included in the BIND Sponsored Design/Preclinical Collaboration Technology or the Joint IP licensed to Pfizer under Section 7.1(b). 

1.5. “BIND Background Know-How” means Know-How that (a) is Controlled by BIND or any of its Affiliates as of the
Effective Date or at any time during the Term (other than through the grant of a license from Pfizer) and (b) relates to any Agreement Compound or Covered Product or to the Development, Manufacture or Commercialization or use of any of the
foregoing, but excluding BIND Sponsored Design/Preclinical Collaboration Technology and Joint IP. 
 1.6. “BIND
Background Patents” means Patents that (a) are Controlled by BIND or any of its Affiliates as of the Effective Date or at any time during the Term (other than through the grant of a license from Pfizer) and (b) claim or disclose
any BIND Background Know-How, but excluding BIND Sponsored Design/Preclinical Collaboration Technology or Joint IP. As of the Effective Date, BIND Background Patents include the existing Patents set forth on Exhibit 1.6. 

1.7. “BIND Background Technology” means the BIND Background Know-How and the BIND Background Patents. 

1.8. “BIND Manufacturing/Formulation Trade Secret” shall mean any BIND Know-How that (i) constitutes a material
trade secret regarding the manufacture or formulation of any Accurin, Agreement Compound or Covered Product, (ii) is disclosed by BIND to Pfizer in order to facilitate Pfizer’s Manufacture of any Accurin, Agreement Compound or Covered
Product pursuant to the provisions of Section 6.2(c) or 6.3(b), and (iii) is (a) identified by BIND as a BIND Manufacturing/Formulation Trade Secret at the time of such disclosure or (b) described in a written summary provided by
BIND to Pfizer within thirty (30) days of such disclosure. For avoidance of doubt, any BIND Know-How that meets the foregoing requirements of this Section shall be and constitute (for all times after satisfying such requirements) a “BIND
Manufacturing/Formulation Trade Secret” for all purposes under this Agreement even if such BIND Know-How was otherwise provided to Pfizer under this Agreement at a different time or in a manner that did not meet all of the foregoing
requirements of this Section. 

  
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 1.9. “BIND Patent” means any Patent that claims or discloses any BIND
Technology. 
 1.10. “BIND Regulatory Data” means (in each case, as of the Effective Date and at any time
during the term) (i) Clinical Data for AccurinsTM (and pharmaceutical compositions and preparations thereof), other than Agreement Compounds, Pfizer Compounds and Covered Products, and (ii) other data submitted by BIND and its
Affiliates and Third Party licensees for AccurinsTM (and pharmaceutical compositions and preparations thereof) to a Regulatory Authority, other than data for Agreement Compounds, Pfizer Compounds or Covered Products. 

1.11. “BIND Technology” means the BIND Background Technology and the BIND Sponsored Design/Preclinical Collaboration
Technology (which includes the Accurin Improvement Technology). 
 1.12. “BIND Third Party License Agreements”
means each of (i) the MIT License Agreement, (ii) the JHU License Agreement, (iii) the Selecta Cross-License Agreement and the Yale License Agreement. 
 1.13. “Brigham” means the Brigham and Women’s Hospital. 

1.14. “Bundle” means any Covered Product sold together with another pharmaceutical product for a single price. For
clarity, combination products (i.e., two active pharmaceutical compounds combined into one compound) shall not be considered a Bundle. 
 1.15. “Candidate Compound” means, at any point in time, any Pfizer Compound identified as a Candidate Compound at that time in the Design/Preclinical Collaboration Plan, as provided in
Section 2.2, and any salt, stereoisomer, enantiomer, diastereomer, tautomer, racemate, free acid form or free base form of any such compound, including any hydrate, solvate, polymorph or other physical form of such compound. 

1.16. “Change of Control” means for BIND that (i) BIND will have become an Affiliate of a Third Party,
(ii) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of BIND to a Third Party will have occurred, or (iii) any Third Party (whether individually
or as part of a group) will have become the owner, directly or indirectly, of voting securities entitled to cast more than fifty percent (50%) of the votes in the election of directors of BIND. 

1.17. “Clinical Data” means all information made, collected or otherwise generated under or in connection with clinical
studies, including any clinical study reports, toxicology reports, development plans, clinical study plans, data and results with respect to any of the foregoing, or data from other human use that is submitted to Regulatory Authorities. 

1.18. “CMCC” means Children’s Medical Center Corporation. 

1.19. “Commercially Reasonable Efforts” means, with respect to the efforts to be expended by a Party with respect to any
objective, that the level of efforts to be expended by a Party under this Agreement will be consistent with the level of reasonable, good faith efforts and resources that would normally be used by such Party (whether acting alone or through its
Affiliates) to accomplish a similar objective under similar circumstances. With respect to any 

  
 -3-

 
efforts relating to the Development, Regulatory Approval or Commercialization of an Agreement Compound or Covered Product by a Party, generally or with respect to any particular country in the
Territory, a Party will be deemed to have exercised Commercially Reasonable Efforts if such Party has exercised those efforts normally used by such Party, in the relevant country, with respect to a compound, product or product candidate of similar
modality Controlled by such Party and to which such Party has similar rights, (ii) which is of similar market potential in such country, and (iii) which is at a similar stage in its development or product life cycle, as the Agreement
Compound or Covered Product, in each case, taking into account all Relevant Factors in effect at the time such efforts are to be expended. Further, to the extent that the performance of a Party’s obligations hereunder is adversely affected by
the other Party’s failure to perform its obligations hereunder, the impact of such performance failure will be taken into account in determining whether such Party has used its Commercially Reasonable Efforts to perform any such affected
obligations. 
 1.20. “Commercialization” or to “Commercialize” means activities directed to
obtaining pricing and reimbursement approvals, carrying out post-approval clinical studies, marketing, promoting, distributing, importing, exporting, offering for sale, selling, having sold or otherwise commercializing a Covered Product. 

1.21. “Competitive [***] Compound” means any compound that is part of the [***] Compound Family. 

1.22. “Competitive [***] Compound” means any compound that is part of the Compound [***] Family. 

1.23. “Compound Family” means the [***] Compound Family or the [***] Compound Family. 

1.24. “Confidentiality Agreement” means that certain confidential disclosure agreement between the Parties dated
April 19, 2012. 
 1.25. “Controlled” or “Controls” means, with respect to any Know-How,
Materials, Patents or other intellectual property or other rights, the possession (whether by ownership or (sub)license or other right, other than by a (sub)license or other right granted pursuant to this Agreement) by a Party of the ability to
grant (or to ensure that its Affiliates grant) to the other Party the licenses, sublicensees or rights to access and use such Know-How, Materials, Patents or other intellectual property or other rights, without requiring the payment of any royalties
or other consideration (other than pursuant to the BIND Third Party License Agreements) or violating the terms of any agreement or other arrangement with any Third Party in existence as of the time such Party or its Affiliates would be required
hereunder to grant such license, sublicense, or rights of access and use. For avoidance of doubt, to the extent that a Party Controls intellectual property rights on a non-exclusive basis, and grants exclusive rights to such intellectual property
rights to the other Party in this Agreement, such grant shall be exclusive as 
  

 

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between the Parties, and the fact that rights are retained by a Third Party outside of this Agreement, or that additional rights under such intellectual property may be granted by such Third
Party to other Third Parties outside of this Agreement, shall not constitute a breach of such exclusive grant by the relevant Party in this Agreement. 
 1.26. “Covered Product” means any pharmaceutical product containing one or more Agreement Compounds (alone or with other active ingredients), in all forms, presentations, formulations and
dosage forms. 
 1.27. “Design/Preclinical Collaboration Project” means (i) research and preclinical
Development activities related to the Agreement Compounds to be conducted by or on behalf of the Parties during the Design/Preclinical Collaboration Term in accordance with the Design/Preclinical Collaboration Plan, and (ii) other activities
that may be undertaken by or on behalf of a Party with respect to the research or Development of Agreement Compounds pursuant to the Design/Preclinical Collaboration Plan during the Design/Preclinical Collaboration Term. 

1.28. “Development” means pre-clinical and clinical drug development activities reasonably related to the development
and submission of information to a Regulatory Authority in the Field for Agreement Compounds and Covered Products, including toxicology, pharmacology and other discovery and pre-clinical efforts, statistical analysis, and clinical studies (other
than post-approval clinical studies). 
 1.29. “Develop” means to conduct Development. 

1.30. “Development & Commercialization Program” means the program of Development and Commercialization
activities to be undertaken by and on behalf of Pfizer for Agreement Compounds and Covered Products. For clarity, the Development & Commercialization Program will not include activities conducted under the Design/Preclinical Collaboration
Project or relating to Manufacturing, and all Development and Commercialization activities related to Agreement Compounds and Covered Products undertaken by or on behalf of Pfizer or any of its Affiliates or Sublicensees will be considered as part
of the Development & Commercialization Program. 
 1.31. “FDA” means the U.S. Food and Drug
Administration and any successor agency thereto. 
 1.32. “FFDCA” means the U.S. Food, Drug, and Cosmetic Act,
as amended or replaced. 
 1.33. “Field” means the treatment, prevention and/or diagnosis of any and all
diseases and medical conditions in humans, provided, however, that, (i) with respect to any right granted by BIND under any Selecta Patent, Field means the “BIND Field” as that term is defined in the Selecta Cross-License
Agreement, (ii) with respect to any right granted under any MIT Patent, Field means diagnostic and therapeutic uses, but excluding therapeutic or prophylactic vaccines and (iii) with respect to any right granted under the Yale License
Agreement, Field means the “FIELD” as that term is defined in the Yale License Agreement. 

  
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 1.34. “First Commercial Sale” means, with respect to a Covered Product on a
country-by-country basis, the first sale for use by the general public of such Covered Product in such country after Regulatory Marketing Approval of such Covered Product has been granted or permitted by the applicable Regulatory Authority of such
country. 
 1.35. “FTE” means 1880 hours of work time over a period of twelve (12) consecutive calendar
months. The portion of an FTE year devoted by a full-time employee will be determined by dividing (i) the number of hours that such individual devoted to performance of such activities during any given twelve (12) month period by
(ii) 1880. 
 1.36. “FTE Rate” means an amount equal to [***] U.S. dollars [***] for one (1) year.

 1.37. “GAAP” means the then-current generally accepted accounting principles in the United States as
established by the Financial Accounting Standards Board or any successor entity or other entity generally recognized as having the right to establish such principles in the United States, in each case consistently applied. 

1.38. “Generic Product” means a pharmaceutical product that is sold by a Third Party and (a) is materially the same
as a Covered Product, including that it comprises a Targeted Nanoparticle and a Pfizer Compound, (b) is sold under regulatory approval, license, registration or authorization of any Regulatory Authority necessary in order to commercially
distribute, sell or market such generic product in such country, and (c) such regulatory approval, license, registration or authorization was obtained in a manner that relied on, referenced or incorporated human clinical data submitted by
Pfizer or its Affiliates in connection with obtaining Regulatory Marketing Approval for such Covered Product. For avoidance of doubt, any product sold by or on behalf of Pfizer, its Affiliates or Sublicensees, or under license, permit or other
authorization from any such entity, is hereby deemed not to be “Generic Product.” 
 1.39. “GIST”
means the Gwangju Institute of Science & Technology. 
 1.40. “GLP Toxicology Studies” means
toxicology studies, conducted on an Agreement Compound in accordance with GLP, that are intended to assess the onset, severity, and duration of toxic effects of such Agreement Compound, their dose dependency and degree of reversibility (or
irreversibility). 
 1.41. “Good Laboratory Practice” or “GLPs” means the applicable
then-current standards for laboratory activities for pharmaceuticals or biologicals, as applicable, as set forth in the FFDCA, 21 U.S.C. §§ 301 et seq., and any regulations or guidance documents promulgated thereunder (as amended),
together with any similar standards of good laboratory practice as are required by any Regulatory Authority in the Territory, as applicable. 

 

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 1.42. “IND” means an Investigational New Drug application or similar
application or submission for approval to conduct human clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirements of such Regulatory Authority. 

1.43. “Indication” means any disease or condition. For clarity, a distinct form of [***] shall be considered a separate
Indication from other distinct forms of [***], provided that, distinct patient populations within a disease or condition shall not be considered separate Indications. 
 1.44. “JHU” means The Johns Hopkins University. 
 1.45.
“JHU License Agreement” means the Exclusive License Agreement between JHU and BIND, effective as of February 17, 2009, as such agreement may be amended or restated in a manner that does not constitute a breach of this
Agreement. 
 1.46. “JHU Patents” means those Patents in-licensed by BIND pursuant to the JHU License Agreement
necessary or useful (i) to research and Develop Agreement Compounds during the Design/Preclinical Collaboration Term or (ii) to Develop, Manufacture or Commercialize Agreement Compounds or Covered Products in the Field during the Term.

 1.47. “Joint IP” means all Joint Developments, Joint Know-How and Joint Patents. 

1.48. “Joint Development” means any invention, development or discovery made, conceived or created jointly by BIND and
Pfizer or their respective Affiliates (in each case, optionally with any (sub)licensees, subcontractors or any other Third Parties or any employees, consultants or agents of any of the foregoing) during the term of this Agreement. 

1.49. “Joint Know-How” means Know-How included in or embodied by any Joint Development. 

1.50. “Joint Patent” means any Patent that claims or discloses any Joint Development or Joint Know-How. 

1.51. “Know-How” means commercial, technical, scientific and other know-how and information, inventions, discoveries,
improvements, trade secrets, knowledge, technology, methods, processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical assistance, designs, drawings, assembly procedures, computer programs,
specifications, data and results (including biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and know-how, including study designs
and protocols); in all cases, whether or not confidential, proprietary, patented or patentable, in written, electronic or any other form, now known or hereafter developed. 

 

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 1.52. “Major EU Market Country” means each of France, Germany, Italy, Spain
and the United Kingdom. 
 1.53. “Major Market Country” means each of the United States, the Major EU Market
Countries and Japan. 
 1.54. “Manufacture” means activities related to the making, production, and manufacture
of Agreement Compounds and Covered Products for Development and Commercialization, including process development, process qualification and validation, test method development, delivery system development and analytic development, product
characterization, formulation, quality assurance and quality control. 
 1.55. “Materials” means any tangible
chemical or biological materials that are provided or otherwise made available by one Party to the other Party under the terms of Section 2.3(c) for use in performance of the Design/Preclinical Collaboration Project (including samples of
nanoparticles, Pfizer Compounds, cells, proteins, tissue samples, animals, together with any components, derivatives or progeny thereof); provided, however, that Materials will not include any Agreement Compounds or Covered Products. 

1.56. “[***] Agreement Compound” means any Agreement Compound incorporating or combined with the Candidate Compound from
the [***] Compound Family. 
 1.57. “[***] Compound” means any compound covered by a composition of matter
claim included in the following PCT publication in the form in which such publication exists as to the date of this Agreement, without regard to any future change or modification to the content of such publication: [***]. For the avoidance of doubt,
determination of whether a compound is covered by such a claim shall be made without regard to the validity or enforceability of such claim, including whether such claim is or is not included in any issued, effective and unexpired patent, and
coverage by any such claim shall not be affected by the expiration, limitation, abandonment or invalidity of any patent or patent application in which such claim is included. 
 1.58. “[***] Compound Family” means all [***] Compounds. 
 1.59.
“[***] Covered Product” means any Covered Product containing one or more [***] Agreement Compounds. 
 1.60.
“MIT” means the Massachusetts Institute of Technology. 
 1.61. “MIT License Agreement” means
the Exclusive Patent License Agreement, by and between MIT and BIND, effective as of June 30, 2007 and amended as of November 24, 2008, as such agreement may be amended or restated in a manner that does not constitute a breach of this
Agreement. 
  

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 1.62. “MIT Patents” means those Patents in-licensed by BIND pursuant to the
MIT License Agreement necessary or useful (i) to research and Develop Agreement Compounds during the Design/Preclinical Collaboration Term or (ii) to Develop, Manufacture or Commercialize Agreement Compounds or Covered Products in the
Field during the Term. 
 1.63. “NDA” means a New Drug Application filed with the FDA (including amendments and
supplements thereto) to obtain Regulatory Marketing Approval in the United States, or any analagous applications or submissions filed with the relevant Regulatory Authorities to obtain Regulatory Marketing Approvals in any other country or region in
the Territory. 
 1.64. “Net Sales” means with respect to a Covered Product that is not a Bundle, the gross
amount invoiced by Pfizer, its Affiliates and its Sublicensees of such Covered Product to Third Parties, less (a) bad debts related to such Covered Product, (b) sales returns and allowances actually paid, granted or accrued, including,
trade, quantity and cash discounts, any other adjustments, including, those granted on account of price adjustments, billing errors, rejected goods, damaged or defective goods, recalls, returns, rebates, chargeback rebates, reimbursement, fees or
similar payments granted or given to wholesalers or other distributors, buying groups, health care insurance carriers, pharmacy benefit management companies, health maintenance organizations, Governmental Authorities, or other institutions or health
care organizations, (c) adjustments arising from consumer discount programs or other similar programs or arising in connection with any Pfizer discount or savings program, (d) customs or excise duties, sales tax, consumption tax, value
added tax, and other taxes (except income taxes) or duties relating to sales, any payment in respect of sales to the United States government, any state government or any foreign government, or to any other Governmental Authority, or with respect to
any government-subsidized program or managed care organization, and (e) charges for freight and insurance (to the extent that Pfizer bears the cost of freight and insurance for a Covered Product). Net Sales shall be determined from books and
records maintained in accordance with GAAP, as consistently applied by Pfizer with respect to sales of all its drug products. 

In the case of any sale or transfer of a Covered Product in an arms-length transaction by Pfizer and its Affiliates and Sublicensees from
the sale of Covered Products to Third Parties for consideration consisting in whole or in part of consideration other than the Net Sales amount shall be deemed to be the Net Sales at which substantially similar quantities of such Product are sold
for cash in an arm’s length transaction in the relevant country; provided however, that, in the case of any Covered Product transferred in connection with clinical studies, compassionate sales, or an indigent or government program or other
similar circumstances by Pfizer or its Affiliate or Sublicensee, no such deemed Net Sales value will apply and Net Sales will be determined on the basis of the value of any reduced cash or other non-cash consideration (if any) received. 

Covered Product will be considered “sold” hereunder as determined in accordance with GAAP as consistently applied by Pfizer.
Such amounts will be determined from the books and records of the person or entity that invoiced the Third Party, maintained in accordance with GAAP as consistently applied by Pfizer. Pfizer’s or any of its Affiliates’ or
Sublicensees’ transfer of Covered Product between each other will not result in any Net Sales, unless such Covered Product is consumed in the course of Commercialization. 

  
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 Where a Covered Product is sold in a Bundle, then for the purposes of calculating Net Sales
under this Agreement, such Covered Product will be deemed to be sold for an amount equal to [X ÷ (X + Y)] × Z, where: X is the wholesale acquisition cost during the applicable reporting period for such dosage form of such Covered
Product; Y is the sum of the average wholesale acquisition cost during the applicable reporting period, when sold alone, of each pharmaceutical product in the relevant dosage form included in the Bundle (excluding such Covered Product); and Z equals
the price at which the Bundle was actually sold. In the event that such Covered Product or one or more of the other pharmaceutical products in the Bundle are not sold separately in the relevant dosage form, Net Sales from the sale of such Bundle
will be reasonably allocated between such Covered Product and the other product(s) in such Bundle based upon their relative values and the Parties will determine the equitable value to apply to such Bundle; provided, that in the event of a
disagreement with respect to such relative values, the Parties will engage a mutually agreed upon independent expert to make the final determination with respect thereto. Notwithstanding the foregoing, no Covered Product will be sold in a Bundle if
such sale would violate applicable law. 
 1.65. “Patent” means issued patents and pending patent applications
in the Territory (which for purposes of this Agreement will include certificates of invention and applications for such certificates), including any provisional applications, divisionals, continuations, continuations-in-part, substitutions,
patents-of-addition, reissues, re-examinations, revalidations, patent term extensions or restorations by existing or future extension or restoration mechanisms, pediatric exclusivity extensions, registrations, supplementary protection certificates
and renewals of any such patents or patent applications, together with foreign equivalents of any of the foregoing, that claim or cover any Materials, Agreement Compounds, or Covered Products, or Development, Manufacture, Commercialization or use
thereof. 
 1.66. “Patent Costs” means the out-of-pocket costs and expenses paid to legal counsel and other
Third Parties (including Third Party licensors of any Patents, such as MIT), and filing and maintenance expenses, incurred in Prosecuting and Maintaining Patents and enforcing and defending them. 

1.67. “Pfizer Background Know-How” means Know-How Controlled by Pfizer or any of its Affiliates during the
Design/Preclinical Collaboration Term that (i) is necessary or reasonably useful for research related to Agreement Compounds, (ii) Pfizer chooses to make available under this Agreement, or (iii) is required for BIND to perform its
obligations under the Design/Preclinical Collaboration Project, but excluding any Pfizer Sponsored Design/Preclinical Collaboration Technology and any Joint IP. 
 1.68. “Pfizer Background Technology” means the Pfizer Background Know-How and the Pfizer Background Patents. 
 1.69. “Pfizer Background Patents” means Patents Controlled by Pfizer or any of its Affiliates during the Design/Preclinical Collaboration Term that (i) are necessary or reasonably
useful for research related to Agreement Compounds, (ii) Pfizer chooses to make available under this Agreement, or (iii) are required for BIND to perform its obligations under the Design/Preclinical Collaboration Project, but excluding any
Pfizer Sponsored Design/Preclinical Collaboration Technology and any Joint IP. 

  
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 1.70. “Pfizer Compound” means any [***] Compound or [***],
provided, however, that if Pfizer fails to exercise the [***] when and as required Pfizer Compound shall cease to include any [***] and if Pfizer fails to exercise the [***] when and as required Pfizer Compound shall
cease to include any [***]. 
 1.71. “Pfizer Manufacturing/Formulation Trade Secret” shall mean any Pfizer
Know-How that (i) constitutes a material trade secret regarding the manufacture or formulation of any Targeted Nanoparticle, Pfizer Compound, Agreement Compound or Covered Product, (ii) is disclosed by Pfizer to BIND in order to facilitate
BIND’s Manufacture of any Accurin, Agreement Compound or Covered Product pursuant to the provisions of Section 6 and (iii) is (a) identified by Pfizer as a Pfizer Manufacturing/Formulation Trade Secret at the time of disclosure
and (b) described in a written summary provided by Pfizer to BIND within thirty (30) days of such disclosure. For avoidance of doubt, any Pfizer Know-How that meets the foregoing requirements of this Section shall be and constitute (for
all times after satisfying such requirements) a “Pfizer Manufacturing/Formulation Trade Secret” for all purposes under this Agreement even if such Pfizer Know-How was otherwise provided to BIND under this Agreement at a different time or
in a manner that did not meet all of the foregoing requirements of this Section. 
 1.72. “Pfizer Patent” means
any Patent that claims or discloses any Pfizer Technology. 
 1.73. “Pfizer Quarter” means each of the four
(4) thirteen (13) week periods (a) with respect to the United States, commencing on January 1 of any Pfizer Year and (b) with respect to any country in the Territory other than the United States, commencing on
December 1 of any Pfizer Year. 
 1.74. “Pfizer Regulatory Data” means (i) Clinical Data for
Agreement Compounds and Covered Products, and (ii) other data submitted by Pfizer and its Affiliates and Sublicensees for Agreement Compounds and Covered Products to a Regulatory Authority. 

1.75. “Pfizer Technology” means the Pfizer Background Technology and the Pfizer Sponsored Design/Preclinical
Collaboration Technology (which includes the Pfizer Compound Improvement Technology). 
 1.76. “Pfizer Year”
means the twelve month fiscal periods observed by Pfizer (a) commencing on January 1 with respect to the United States and (b) commencing on December 1 with respect to any country in the Territory other than the United States.

 1.77. “Phase 1 Study” means a clinical trial of an Agreement Compound or Covered Product, the principal
purpose of which is a determination of safety, as described in 21 C.F.R. 312.21(a) (as amended or replaced), including any exploratory IND studies, or a similar clinical study prescribed by a Regulatory Authority in a foreign country or region,
provided, however, a Phase I Study does not include any study generally characterized by the FDA as an “exploratory 
  

 

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IND study” in CDER’s Guidance for Industry, Investigators, and Reviewers Exploratory IND Studies, January 2006, irrespective of whether or not such study is actually performed in the
United States or under an IND. 
 1.78. “Phase 2 Study” means a clinical trial of an Agreement Compound or
Covered Product, the principal purpose of which is a determination of safety and an assessment of its efficacy in the target patient population, as described in 21 C.F.R. 312.21(b) (as amended or replaced), or a similar clinical study prescribed by
a Regulatory Authority in a foreign country or region. 
 1.79. “Phase 3 Study” means a pivotal clinical trial
of an Agreement Compound or Covered Product with a defined dose or a set of defined doses of a pharmaceutical product on a sufficient number of subjects that is designed to establish that a pharmaceutical product is safe and efficacious for its
intended use, as described in 21 C.F.R. 312.21(c) (as amended or replaced), or a similar clinical study prescribed by a Regulatory Authority in a foreign country or region. 
 1.80. “[***] Agreement Compound” means any Agreement Compound incorporating or combined with the Candidate Compound from the [***] Compound Family. 

1.81. “[***] Compound” means any compound covered by a composition of matter claim included in the following PCT
publications in the form in which such publications exist as to the date of this Agreement, without regard to any future change or modification to the content of such publications: [***]. For the avoidance of doubt, determination of whether a
compound is covered by such a claim shall be made without regard to the validity or enforceability of such claim, including whether such claim is or is not included in any issued, effective and unexpired patent, and coverage by any such claim shall
not be affected by the expiration, limitation, abandonment or invalidity of any patent or patent application in which such claim is included. 
 1.82. “[***] Compound Family” means all [***] Compounds. 
 1.83.
“[***] Covered Product” means any Covered Product containing one or more [***] Agreement Compounds. 
 1.84.
“Post-Change of Control Affiliate” means, with respect to any Change of Control of BIND, any Affiliate of BIND other than an Affiliate of BIND immediately prior to such Change of Control. For the avoidance of doubt, no Post-Change
of Control Affiliate shall be deemed to Control any Know-How or Patent Controlled by BIND or its other Affiliates as a result of such Post-Change of Control Affiliate’s control of BIND or any of BIND’s other Affiliates. 

1.85. “Price Approval” means, in any country where a Governmental Authority or other Third Party authorizes
reimbursement for, or approves or determines pricing for, 
  

 

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pharmaceutical products, receipt (or, if required to make such authorization, approval or determination effective, publication) of such reimbursement authorization or pricing approval or
determination (as the case may be). 
 1.86. “Prosecution and Maintenance” means in relation to any Patents,
(i) to prepare and file Patent applications, including re-examinations or re-issues thereof, and represent applicants or assignees before relevant patent offices or other relevant governmental authorities during examination, re-examination and
re-issue thereof, in appeal processes and interferences, or any equivalent proceedings, (ii) to defend all such applications against Third Party oppositions, (iii) to secure the grant of any Patents arising from such Patent application,
(iv) to maintain in force any issued Patent (including through payment of any relevant maintenance fees), and (v) to make all decisions with regard to any of the foregoing activities. 

1.87. “Regulatory Approval” means any approval of any Regulatory Authority necessary in order to Develop, Manufacture or
Commercialize an Agreement Compound or Covered Product. 
 1.88. “Regulatory Authority” means any national
(e.g., the FDA), supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity, in any jurisdiction in the world, regulating or otherwise exercising authority with respect to the
Development, Manufacture or Commercialization of an Agreement Compound or Covered Product in the applicable jurisdiction. 

1.89. “Regulatory Documentation” means all applications for clinical studies and Regulatory Approvals, all
registrations, licenses, authorizations and approvals (including all Regulatory Approvals), all correspondence submitted to or received from Regulatory Authorities (including minutes and official contact reports relating to any communications with
any Regulatory Authority), and all Clinical Data and other data submitted to Regulatory Authorities, in each case for a particular product, including all Drug Application Approvals, regulatory drug lists, advertising and promotion documents, drug
master files, adverse event files and complaint files for such product. 
 1.90. “Regulatory Marketing
Approval” means, with respect to a country or region in the Territory, all technical approvals (including approvals of NDAs, supplements and amendments, pre- and post- approvals and labeling approvals), registrations or authorizations from
the relevant Regulatory Authority necessary in order to Commercialize a pharmaceutical product in such country or region. For the sake of clarity, Regulatory Marketing Approval shall not be achieved for a Covered Product in a country until all
applicable Price Approvals have also been obtained by Pfizer or its designee for such Covered Product in such country. 
 1.91.
“Relevant Factors” means all relevant factors that may affect the Development, Regulatory Approval or Commercialization of an Agreement Compound or Covered Product, including (as applicable): actual and potential issues of safety,
efficacy or stability; product profile (including product modality, category and mechanism of action); stage of development or life cycle status; actual and projected Development, Regulatory Approval, Manufacturing, and Commercialization costs; any
issues regarding the ability to Manufacture or have Manufactured any Agreement Compound or Covered Product; the likelihood of obtaining Regulatory 

  
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Marketing Approvals (including satisfactory Price Approvals); the timing of such approvals; the current guidance and requirements for Regulatory Approvals for the Covered Product and similar
products and the current and projected regulatory status; labeling or anticipated labeling; the then-current competitive environment and the likely competitive environment at the time of projected entry into the market; past performance of the
Covered Product or similar products; present and future market potential; existing or projected pricing, sales, reimbursement and profitability; pricing or reimbursement changes in relevant countries; proprietary position, strength and duration of
patent protection and anticipated exclusivity; and other relevant scientific, technical, operational and commercial factors. 

1.92. “Selecta Cross-License Agreement” means the Patent Cross-License Agreement between Selecta Biosciences, Inc. and
BIND, effective as of December 18, 2008, as such agreement may be amended or restated in a manner that does not constitute a breach of this Agreement. 
 1.93. “Selecta Patents” means the Selecta Licensed Patents (as defined in the Selecta Cross-License Agreement) in-licensed by BIND pursuant to the Selecta Cross-License Agreement
necessary or useful (i) to research and Develop Agreement Compounds during the Design/Preclinical Collaboration Term or (ii) to Develop, Manufacture or Commercialize Agreement Compounds or Covered Products in the Field during the Term.

 1.94. “Sponsored Design/Preclinical Collaboration Technology” means Sponsored Design/Preclinical
Collaboration Developments, Sponsored Design/Preclinical Collaboration Know-How and Sponsored Design/Preclinical Collaboration Patents. 
 1.95. “Sponsored Design/Preclinical Collaboration Developments” means any invention, development or discovery made, conceived or created by or on behalf of BIND or any of its Affiliates,
by or on behalf of Pfizer or any of its Affiliates or jointly by BIND and Pfizer or their respective Affiliates (in each case, optionally with any (sub)licensees, subcontractors or any other Third Parties or any employees, consultants or agents of
any of the foregoing) in connection with the activities performed pursuant to the Design/Preclinical Collaboration Plan. 

1.96. “Sponsored Design/Preclinical Collaboration Know-How” means Know-How included in or embodied in any Sponsored
Design/Preclinical Collaboration Development. 
 1.97. “Sponsored Design/Preclinical Collaboration Patent”
means any Patent that claims or discloses any Sponsored Design/Preclinical Collaboration Development or Sponsored Design/Preclinical Collaboration Know-How. 
 1.98. “Sublicensee” means an Affiliate of Pfizer or a Third Party that is granted a sublicense by Pfizer in accordance with Section 7.4(b). 

1.99. “Territory” means worldwide. 
 1.100. “Third Party” means any person or entity other than Pfizer, BIND or their respective Affiliates. 

  
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 1.101. “Valid Claim” means with respect to a particular country
(i) any claim of an issued and unexpired Bind Background Patent, Sponsored Design/Preclinical Collaboration Patent, or Joint Patent that (a) has not been held permanently revoked, unenforceable or invalid by a decision of a court or
governmental agency of competent jurisdiction, which decision is unappealable or unappealed within the time allowed for appeal and (b) has not been abandoned, cancelled, withdrawn, disclaimed, denied or admitted to be invalid or unenforceable
through reissue or disclaimer or otherwise, or (ii) a claim of a Patent application which has been pending for no longer than seven years in such country, or, for Patent applications filed in Japan, ten years, which claim has not been abandoned
or finally disallowed without the possibility of appeal or re-filing on the application. 
 1.102. “Yale License
Agreement” means the Exclusive License Agreement, by and between Yale University and BIND, effective as of January 31, 2013, as such agreement may be amended or restated in a manner that does not constitute a breach of this Agreement.

 1.103. “Yale Patents” means those Patents in-licensed by BIND pursuant to the Yale License Agreement
necessary or useful (i) to research and Develop Agreement Compounds during the Design/Preclinical Collaboration Term or (ii) to Develop, Manufacture or Commercialize Agreement Compounds or Covered Products in the Field during the Term.

 Definitions for each of the following terms are found in the body of this Agreement as indicated below: 

 

			
	 Defined Term
	  	 Location

	AccurinTM Class Specific Data	  	Section 7.3(a)
	Accurin Improvement Technology	  	Section 9.2(a)
	Affected Party	  	Section 14.2(c)
	Alliance Manager	  	Section 1.1(a)
	Associates or Associate	  	Section 7.7(c)
	Bankruptcy Event	  	Section 14.2(c)
	BIND Indemnitees	  	Section 13.5
	BIND Sponsored Design/Preclinical Collaboration Technology	  	Section 9.2(d)(i)
	Claim	  	Section 13.5(d)
	Confidential Information	  	Section 12.1(a)
	Competitive Infringement	  	Section 11.1
	Design/Preclinical Collaboration Plan	  	Section 2.1(b)
	Design/Preclinical Collaboration Term	  	Section 2.1(a)
	Disclosing Party	  	Section 12.1(a)
	Exercise	  	Section 4.1
	Indemnitee	  	Section 13.5(d)
	Indemnitor	  	Section 13.5(d)

  
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	 Defined Term
	  	 Location

	Issuing Party	  	Section 12.1(b)
	Joint Sponsored Design/Preclinical Collaboration Technology	  	Section 9.2(d)(iii)
	JRC	  	Section 3.2(a)
	Losses	  	Section 13.5(a)
	[***] License	  	Section 4.1
	[***]	  	Section 4.1
	Option Fee	  	Section 8.2
	Pfizer Compound Improvement	  	Section 9.2(c)
	Pfizer Indemnitees	  	Section 13.5(c)
	Pfizer Option Notice	  	Section 4.1
	Pfizer Option Period	  	Section 4.1
	Pfizer Sponsored Design/Preclinical Collaboration Technology	  	Section 9.2(c)(i)
	[***] License	  	Section 4.1
	[***]	  	Section 4.1
	Product Specific Patent	  	Section 10.1(c)
	Program Lead	  	Section 3.1
	Receiving Party	  	Section 12.1(a)
	Release	  	Section 12.1(b)
	Replacement Period	  	Section 2.2(c)
	Reviewing Party	  	Section 12.1(b)
	Royalty Term	  	Section 8.8(b)
	Sole Sponsored Design/Preclinical Collaboration Technology	  	Section 9.2(c)(i)
	Targeted Nanoparticle	  	Section 1.1
	Supply Agreement	  	Section 6.1
	Term	  	Section 14.1

  

	Section 2.	Design/Preclinical Collaboration Project Phase. 

 2.1. Conduct of the Design/Preclinical Collaboration Project. 
 (a) The
Parties will conduct the Design/Preclinical Collaboration Project on the terms and conditions set forth in this Agreement and the Design/Preclinical Collaboration 

 
  

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Plan to identify and Develop Agreement Compounds. The Design/Preclinical Collaboration Project will be undertaken and performed during the period beginning on the Effective Date and ending on
[***], unless earlier terminated as provided in this Agreement (the “Design/Preclinical Collaboration Term”). The Design/Preclinical Collaboration Term may be extended only by mutual written agreement of the Parties. 

(b) The research and preclinical Development activities to be undertaken and performed by the Parties in connection with the
Design/Preclinical Collaboration Project, the BIND FTEs to be reimbursed to BIND by Pfizer and the BIND out-of-pocket expenses to be reimbursed to BIND by Pfizer are set forth in a detailed plan agreed in writing by the Parties (the
“Design/Preclinical Collaboration Plan”). Any modifications or amendments to the Design/Preclinical Collaboration Plan that are proposed by either Party will be subject to review and prior written approval by the JRC pursuant to and
in accordance with the terms of Section 3.2(e). 
 (c) Pfizer will use Commercially Reasonable Efforts to undertake and
perform its obligations as set forth in the Design/Preclinical Collaboration Plan using appropriate personnel and resources. BIND will use Commercially Reasonable Efforts to undertake and perform its obligations as set forth in the
Design/Preclinical Collaboration Plan as well as any other activities that it has agreed to undertake under this Agreement using appropriate personnel and resources (but for work to be performed by BIND under the Design/Preclinical Collaboration
Plan, subject to the extent FTEs are funded pursuant to Section 8.11 and as set forth in the Design/Preclinical Collaboration Plan, it being understood that BIND is not required to perform work not so funded by Pfizer). The Parties will work
together to coordinate their efforts in performing their respective responsibilities under the Agreement. Except as expressly set forth in Section 8.11 and the Design/Preclinical Collaboration Plan (or as may otherwise be agreed by the Parties
in writing prior to being incurred), each of BIND and Pfizer is and will remain solely responsible for all of the out-of-pocket and internal costs and expenses that are incurred by or on its behalf in connection with the performance of the
Design/Preclinical Collaboration Plan during the Design/Preclinical Collaboration Term. 
 2.2. Amendment of the
Design/Preclinical Collaboration Plan; Candidate Compounds and Agreement Compounds. 
 (a) Pfizer may amend the
Design/Preclinical Collaboration Plan at any time, provided that to the extent that any change to the Design/Preclinical Collaboration Plan will materially increase BIND’s obligations under the Design/Preclinical Collaboration Plan, then the
Design/Preclinical Collaboration Plan shall be amended to include such change only by the written agreement of the Parties or as set forth in this Section 2.2. 
 (b) The initial Design/Preclinical Collaboration Plan identifies [***] for inclusion in the Design-Preclinical Collaboration Plan. These [***] compounds are the initial Candidate Compounds. BIND will use
Commercially Reasonable Effort to produce at 
  
  

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least [***] Accurins that incorporate or are combined with each Candidate Compound within [***] after delivery by Pfizer to BIND of sufficient quantities of each such Candidate Compound.

 (c) By written notice to BIND at any time within the Replacement Period, Pfizer may replace any Candidate Compound with
another Candidate Compound from the same Compound Family. Such right of replacement may be exercised by Pfizer up to two times with respect to each Compound Family. Upon receipt of each such notice, the Candidate Compound being replaced shall cease
to be a Candidate Compound and the replacement Candidate Compound shall be the Candidate Compound for the applicable Compound Family. Upon receipt of each such replacement notice, BIND will suspend Development activities directed to the Candidate
Compound being replaced and the related Accurin® and will amend the Design/Preclinical Collaboration Plan to provide for the initial Development of the replacement Candidate Compound and the production by BIND of Accurins® incorporating or
combined with such replacement Candidate Compound. BIND may delay commencement of the Development activities with respect to a replacement Candidate Compound for a period of up to [***] after delivery by Pfizer to BIND of sufficient quantities of
each such Candidate Compound. “Replacement Period” shall be determined on a Compound Family-by-Compound Family basis and shall initially be equal to the Design/Preclinical Collaboration Term; provided that, (A) the Replacement Period
for a given Compound Family shall be extended by the number of days in excess of [***] that elapsed between the delivery by Pfizer to BIND of sufficient quantities of each such replacement Candidate Compound for such Compound Family (if any) and the
date on which BIND produced the second Accurin that incorporates or is combined with such a replacement Candidate Compound (for avoidance of doubt, such number of days shall be calculated for each replacement Candidate Compound within in Compound
Family and, if there are more than one such replacement Candidate Compound, such numbers of days shall be added together), (B) the Replacement Period for a given Compound Family shall be reduced by the number of days that is equal to [***]
minus the number of days that elapsed between the delivery by Pfizer to BIND of sufficient quantities of the initial Candidate Compound and the date on which BIND produced the second Accurin that incorporates or is combined with such initial
Candidate Compound from the relevant Compound Family and (C), notwithstanding the foregoing, the Replacement Period shall not end sooner than the earlier of (1) the termination of this Agreement and (2) [***]. 

2.3. Design/Preclinical Collaboration Project Records, Reports and Materials. 

(a) Each Party will maintain, or cause to be maintained, records of its activities and results achieved under the Design/Preclinical
Collaboration Plan in sufficient detail and in good scientific manner appropriate for scientific, patent and regulatory purposes, which will properly reflect all work included in the Design/Preclinical Collaboration Project. All such records will be
maintained in manner consistent with (i) applicable law relating to similar documentation used to obtain and maintain Regulatory Approvals in the United States, and (ii) such Party’s applicable internal policies and procedures.

  
  

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 (b) During the Design/Preclinical Collaboration Term and for the next calendar quarter
thereafter, each Party will furnish to the JRC a summary written report, within thirty (30) days after the end of each calendar quarter, describing the status and progress of its performance under the Design/Preclinical Collaboration Plan and
any other work conducted by or on its behalf as part of the Design/Preclinical Collaboration Project. 
 (c) If samples of
Materials are provided during the Design/Preclinical Collaboration Term, the Party receiving such Materials (the “Materials Recipient”) will only use the Materials in accordance with the Design/Preclinical Collaboration Plan (or as
may otherwise be permitted under the terms and conditions of this Agreement). The Materials Recipient will not distribute or otherwise allow the release of Materials to any Third Party other than subcontractors pursuant to Section 2.3 below
without the prior written consent of the supplying Party (the “Materials Supplier”), which consent will not be unreasonably withheld. Materials made available to the Materials Recipient (and any derivatives or progeny thereof) are
and will remain the sole property of the Materials Supplier and will be used in compliance with all applicable law. The Materials Supplier will provide the Materials Supplier together with the Materials any available information related to the safe
and proper storage and handling of the Materials. The Materials Supplier hereby represents and warrants that it has the right authority to provide and make available such Materials to the Materials Recipient for use as contemplated hereunder.

 (d) At the end of the Design/Preclinical Collaboration Term (or such earlier time as the Materials Supplier may request in
writing), the Materials Recipient shall either destroy or return to the Materials Supplier, at the Materials Supplier’s sole discretion, all unused Materials provided by the Materials Supplier. 

2.4. Subcontractors. Either Party may subcontract any of its activities for the Design/Preclinical Collaboration Project to a
Third Party, provided that any such Third Party must have entered into a written agreement with such Party that includes terms and conditions protecting and limiting use and disclosure of Confidential Information and Know-How at least to the same
extent as under this Agreement, and requiring the Third Party and its personnel to assign to such Party all right, title and interest in and to any materials, technology and intellectual property (and intellectual property rights therein) created or
conceived in connection with performance of subcontracted activities. Each Party is responsible for compliance by such Third Party with the applicable terms and conditions of this Agreement. 

 

	Section 3.	Relationship Management. 

3.1. Program Leads. On or as soon as practicable after the Effective Date (but in all cases prior to the first meeting of the JRC),
each of BIND and Pfizer will designate one of its individual employees to serve as that Party’s lead and primary point of contact for matters related to the coordination of Design/Preclinical Collaboration Project activities and such other
activities that require coordination between the Parties (such as manufacturing related activities) (each, a “Program Lead”). The Program Leads will also serve as co-chairpersons of the JRC

  
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with responsibility for generating JRC meeting schedules and agendas and other administrative matters related to the conduct of JRC meetings, but will not have any decision-making authority. A
Party will have the right to change its Program Lead and designate a different one of its individual employees to serve as that Party’s Program Lead by providing written notice thereof to the other Party. 

3.2. Joint Design/Preclinical Collaboration Committee. 
 (a) On or as soon as practicable after the Effective Date, the Parties will establish a Joint Design/Preclinical Collaboration Committee, comprised of the two (2) Program Leads, two
(2) additional representatives of BIND from its CMC and preclinical development groups, and two (2) additional representatives of Pfizer (the “JRC”). Each Party may replace any of its representatives on the JRC at any time
upon written notice to the other Party. 
 (b) A Party may invite others of its or its Affiliates’ employees to attend and
participate in relevant portions of meetings of the JRC as necessary to facilitate the sharing of information and discussion of any issues related to the Design/Preclinical Collaboration Plan, performance of the Design/Preclinical Collaboration
Project and performance of the Development & Commercialization Program. A Party will notify the other Party’s Program Lead in writing if it wishes to invite a Third Party consultant or subcontractor to attend a JRC meeting. Any such
notice will be provided at least five (5) business days prior to the relevant JRC meeting, will identify the Third Party consultant or subcontractor, and will briefly describe the reasons the requesting Party wishes to include such individual
at the meeting. The attendance and participation of any such Third Party consultant or subcontractor will be subject to the prior written consent of the other Party (which consent will not be unreasonably withheld). Any such consent will be
conditioned upon the Third Party consultant or subcontractor entering into a suitable confidentiality and non-use agreement with the consenting Party. 
 (c) The JRC will meet during the Term at least quarterly, or as otherwise agreed, at such times as are agreed to by the JRC members. Such meetings may be in-person, via videoconference, or via
teleconference. Meetings of the JRC will be effective only if at least one (1) representative of each Party is present or participating. Each Party will be responsible for all of its own costs and expenses of participating in the JRC meetings.
BIND’s Program Lead will be responsible for chairing the JRC’s first meetings, and such responsibility will thereafter alternate between Pfizer’s Program Lead and BIND’s Program Lead during the remainder of the Design/Preclinical
Collaboration Term. The Parties may elect to maintain minutes of JRC meetings, in which case the Program Leads will also be responsible for generating, circulating and obtaining approval of such minutes. The JRC will cease to exist upon the
expiration of the Design/Preclinical Collaboration Term or such earlier time as the Parties may mutually agree. 
 (d) The JRC
will be responsible for monitoring and coordinating the performance of the Design/Preclinical Collaboration Project in accordance with the Design/Preclinical Collaboration Plan. Specific JRC responsibilities will include the following: 

(i) Periodic review of the Parties’ efforts and progress under the Design/Preclinical Collaboration Plan; 

  
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 (ii) Review and approval of any proposed modifications or amendments to the
Design/Preclinical Collaboration Plan; 
 (iii) Prioritization and oversight of execution of specific activities
to be performed under the Design/Preclinical Collaboration Plan; 
 (iv) Review and evaluation of Agreement
Compounds for which pre-clinical Development work should be performed as part of the Design/Preclinical Collaboration Project; and 
 (v) Serving as a forum for the Parties to discuss any issues arising with respect to the conduct or results of the Design/Preclinical Collaboration Project. 

(e) Any decisions by the JRC will be made by consensus of all JRC members in attendance at the applicable JRC meeting, with each of
Pfizer and BIND having one (1) vote. If the JRC cannot reach consensus on a matter, then, after due consideration of the input from BIND, Pfizer will have final decision-making authority; provided, however, that Pfizer will not have the right
to unilaterally modify or amend the Design/Preclinical Collaboration Plan to the extent that it would impose upon BIND significant changes in the hours, spending or resources of BIND. The Parties acknowledge and agree that the JRC will not have the
power or authority to amend or modify any of the terms of this Agreement or to waive any Party’s rights or obligations hereunder. 
  

	Section 4.	Option. 

 4.1. Pfizer
Options. For the period commencing at the Effective Date and ending [***] and (ii) [***]. 
 (a) [***]. 

(b) [***]. 

(c) A separate Option Notice and payment of the Option Fee (as defined in Section 8.2 below) will be required for the exercise of
[***]. Within five (5) business days of receipt by BIND of an Option Notice, BIND will 
  

 

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provide to Pfizer a Schedule of Exceptions as contemplated under Section 13.1. Within thirty (30) days of receipt of such Schedule of Exceptions, Pfizer has the right to notify BIND in
writing that it cancels the exercise of the option provided for in such Option Notice. Such cancellation will be without prejudice to Pfizer’s ability to provide an Option Notice again with respect to such cancelled Option within the relevant
Option Period. 
 (d) [***]. 
 (e) [***]. 
 (f) Upon receipt by BIND of any subsequent Option Notice, the Parties
shall again undertake the process outlined above. 
 (g) As used in this Agreement, Pfizer’s “Exercise” of
the [***], in each case, the exercise of such option without subsequent cancellation pursuant to and in accordance with this Section. 
  

	Section 5.	Development and Commercialization of Agreement Compounds and Covered Products. 

5.1. Development & Commercialization Program. 
 (a) Following the exercise of the option by Pfizer and the (sub)license by Pfizer in accordance with Section 4.1, Pfizer will be solely responsible for designing and performing all aspects of the
Development & Commercialization Program for the relevant Agreement Compounds, and Pfizer will have sole responsibility for all costs and expenses arising therefrom. Pfizer will have final decision-making authority, at its sole discretion,
with respect to the design and conduct of the Development & Commercialization Program. 
 (b) To the extent that BIND
has, during the Design/Preclinical Collaboration Term, provided or otherwise made available to Pfizer any Materials for use in performance of the Design/Preclinical Collaboration Plan, Pfizer will have the right to continue to use such Materials as
necessary in connection with the Development & Commercialization Program, to the same extent as the (sub)license by BIND in Section 7.1 and subject to Pfizer’s compliance with Section 2.3(c). 

5.2. Diligence. 
 (a) Beginning with the end of the Design/Preclinical Collaboration Term and continuing for the remainder of the Term, Pfizer will use, and will cause its Affiliates and Sublicensees to use, Commercially
Reasonable Efforts to Develop and seek Regulatory 
  

 

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Marketing Approval for at least one Covered Product in at least one Indication in at least one Major Market Country. Pfizer will have no other diligence obligations with respect to the
Development of Covered Products under this Agreement. 
 (b) Beginning with the end of the Design/Preclinical Collaboration Term
and continuing for the remainder of the Term, Pfizer will use, and will cause its Affiliates and Sublicensees to use, Commercially Reasonable Efforts to Commercialize each Covered Product in each Major Market Country where it receives Regulatory
Marketing Approval. Pfizer will have no other diligence obligations with respect to the Commercialization of Covered Products under this Agreement. 
 (c) Beginning with the end of the Design/Preclinical Collaboration Term and ending with the First Commercial Sale of a Covered Product, Pfizer will provide BIND with an annual report with a summary of
events related to the Development & Commercialization Program, including a listing of any Regulatory Approvals achieved for Agreement Compounds or Covered Products. Any and all such reports (and all data and information set forth therein)
will be considered Pfizer’s Confidential Information and will be subject to the confidentiality and use restrictions under this Agreement. Pfizer will also consider in good faith any reasonable requests by BIND for additional information (to
the extent available) related thereto. 
 5.3. Suspension of Development. In the event that (i) Pfizer determines in
its exercise of Commercially Reasonable Efforts that either Agreement Compound or Covered Product has or is reasonably expected to have an unacceptable risk-benefit profile or is otherwise not suitable for the initiation or continuation of
Development, (ii) Pfizer or BIND generates any safety, tolerability or other data indicating or signaling that either an Agreement Compound or a Covered Product has or is reasonably expected to have an unacceptable risk-benefit profile, Pfizer
may immediately take any and all actions that it deems necessary or appropriate with respect to any such Development activities or clinical studies to appropriately address such concerns, including instituting a clinical hold or otherwise suspending
Development, the termination of some or all Development activities and/or clinical studies with respect to a particular Agreement Compound or Covered Product, or the termination of this Agreement, in its entirety or with respect to such Agreement
Compound or Covered Product, pursuant to Section 14.2(b). For the avoidance of doubt, BIND acknowledges and agrees that such decisions, actions and changes made to Development activity and clinical studies shall not be in breach of this
Agreement. 
 5.4. Exceptions to Diligence Obligations. Notwithstanding any provision of this Agreement to the contrary,
Pfizer will be relieved of its failure to fulfill any diligence obligation set forth in Section 5.2 to the extent, but only to the extent, that Pfizer’s failure to fulfill such diligence obligation is caused by: 

(a) BIND failure to fulfill its Development or other obligations under the Design/Preclinical Collaboration Plan or this Agreement; or

 (b) BIND failure to fulfill its Manufacturing or other obligations under the Design/Preclinical Collaboration Plan or this
Agreement as set forth in Section 6. 

  
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 5.5. Assertion of Pfizer Diligence Obligation Claims. If either Party is or becomes
aware of facts that might form a reasonable basis to allege that Pfizer has failed to meet any of its obligations under Section 5.2, then such Party will promptly notify the other Party in writing of such potential alleged performance failure
(each such potential alleged performance failure, a “Diligence Issue”). Promptly upon receipt of any notice of a Diligence Issue pursuant to this Section 5.5, the Program Leads will meet to discuss the specific nature of such
Diligence Issue and seek to identify an appropriate corrective course of action. If, no later than thirty (30) days after receipt of such a notice, (a) the Parties have not reached consensus regarding whether Pfizer has failed to satisfy
its obligations pursuant to Section 5.2 and (b) the Parties’ respective Program Leads have not agreed upon an appropriate corrective course of action for such Diligence Issue, then the Parties shall be free to exercise their
respective rights and remedies hereunder. 
 5.6. Regulatory Approvals. Pfizer or its designated Affiliate(s) shall have
the sole authority to file applications for all Regulatory Approvals for Agreement Compounds and Covered Products, including communicating with any Regulatory Authority, both prior to and following any Regulatory Approval. 

5.7. Other Pfizer Programs. Each Party understands and acknowledges that the other Party may have present or future initiatives or
opportunities, including initiatives or opportunities with its Affiliates or Third Parties, involving products, programs, technologies or processes that are similar to, and in some instances may compete with, a Pfizer Compound, an Agreement
Compound, Covered Product(s), Accurins, nanoparticle technology, a program, technology or process covered by this Agreement. Except for the restrictions set forth in Section 5.8, each Party acknowledges and agrees that nothing in this Agreement
will be construed as a representation, warranty, covenant or inference that the other Party will not itself research, develop, manufacture or commercialize or enter into business relationships with one or more of its Affiliates or Third Parties to
research, develop, manufacture or commercialize products, programs, technologies or processes that are similar to or that may compete with any product, program, technology or process covered by this Agreement. 

5.8. Exclusivity. 
 (a) [***] Compound Exclusivity. Other than in performance of its obligations to Pfizer pursuant to this Agreement, as expressly provided herein, BIND shall not, directly or with or through an
Affiliate, employ the BIND Technology or Joint IP to Develop, Manufacture or Commercialize any Accurin or other Targeted Nanoparticle incorporating or otherwise combined with any Competitive [***] Compound, nor shall BIND grant rights to BIND
Technology or Joint IP to any Third Party to Develop, Manufacture or Commercialize any Accurin or other Targeted Nanoparticle incorporating or otherwise combined with any Competitive [***] Compound, during any part of the Term prior to expiration of
the Pfizer Option Period or following Pfizer’s Exercise of the [***]. 
  

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 (b) [***] Compound Exclusivity. Other than in performance of its obligations to
Pfizer pursuant to this Agreement, as expressly provided herein, BIND shall not, directly or with or through an Affiliate, employ the BIND Technology or Joint IP to Develop, Manufacture or Commercialize any Accurin or other Targeted Nanoparticle
incorporating or otherwise combined with any Competitive [***] Compound, nor shall BIND grant rights to BIND Technology or Joint IP to any Third Party to Develop, Manufacture or Commercialize any Accurin or other Targeted Nanoparticle incorporating
or otherwise combined with any Competitive [***] Compound, during any part of the Term prior to expiration of the Pfizer Option Period or following Pfizer’s Exercise of the [***]. 

 

	Section 6.	Manufacturing. 

 6.1.
Preclinical Supplies. From the Effective Date through the initiation of Phase 1 Studies, BIND will have the sole right and obligation to Manufacture or have Manufactured, Agreement Compounds for the payment agreed to by the Parties as set
forth in the Design/Preclinical Collaboration Plan. BIND shall supply to each Party the amounts of any such Agreement Compound necessary for each Party to the meet its obligations pursuant to the Design/Preclinical Collaboration Plan from the
Effective Date through the initiation of Phase I Studies. At BIND’s request, Pfizer will, at its sole expense, provide adequate supplies of any active pharmaceutical ingredient in the Pfizer Compounds in a form suitable for Manufacture of
Agreement Compounds for preclinical activities. As compensation for BIND’s performance of its right and obligation to Manufacture or have Manufactured Agreement Compounds as described in this Section 6.1, Pfizer shall pay BIND as set forth
in the Design/Preclinical Collaboration Plan and as more specifically provided in Section 8.11(a), which payment is comprised of: (i) reimbursement at the FTE Rate for all employees of BIND engaged in such Manufacturing efforts pursuant to
the Design/Preclinical Collaboration Plan and (ii) reimbursement of out-of-pocket expenses incurred by BIND in connection with such Manufacturing efforts, including actual amounts paid by BIND to any Third Parties supporting or engaged in such
Manufacturing efforts (including the advancement of reservation deposits payable to such Third Parties to the extent allocable to reserve capacity for such Manufacturing). For the avoidance of doubt, BIND will not be entitled to any payment other
than as provided in the foregoing provisions of this Section with respect to the Manufacture of any Agreement Compound without the prior written consent of Pfizer. 
 6.2. Phase 1 Supplies. Promptly following the Effective Date, the Parties will negotiate in good faith towards a supply agreement pursuant to which BIND will Manufacture or have Manufactured,
Agreement Compounds for use in Phase 1 Studies (the “Supply Agreement”). If BIND engages a contract manufacturer to perform such Manufacturing on behalf of BIND, such contract manufacturer shall be acceptable to Pfizer, provided
that Pfizer hereby acknowledges and agrees that [***] is, as of the Effective Date, acceptable to Pfizer. The Supply Agreement will contain the following terms and conditions and such other reasonable terms as are customarily included in similar
pre-commercial supply agreements. 
  

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 (a) From the initiation of Phase 1 Studies through the completion of Phase 1 Studies, BIND
will have the sole right and obligation to Manufacture or have Manufactured, Agreement Compounds. 
 (b) At BIND’s request,
Pfizer will, at its sole expense, provide adequate supplies of the Pfizer Compounds in a form suitable for Manufacture of such Agreement Compounds for use in any and all Phase 1 Studies as further specified in the Supply Agreement. 

(c) The compensation payable to BIND for such Manufacturing activities shall be comprised of: (i) the FTE Rate for all employees of
BIND engaged in such Manufacturing efforts, (ii) to the extent identified in the Supply Agreement or approved by Pfizer in advance in writing, out-of-pocket expenses incurred by BIND in connection with such Manufacturing efforts, provided that
such out-of-pocket expenses in connection with any equipment or other capital assets that are required to be acquired in order to perform the Manufacturing activities shall be limited to the reasonable amortized cost of such equipment over the
course of the period during which such assets are used for such Manufacturing and, to the extent such equipment is utilized by BIND during such period for other purposes in addition to such Manufacturing, to a reasonable allocated portion of such
cost, and (iii) actual amounts paid by BIND to any Third Parties supporting or engaged in such Manufacturing efforts (including the advancement of reservation deposits payable to such Third Parties solely to the extent applicable to, and in
proportion to, the Manufacture of materials for Pfizer). 
 (d) Such Manufacturing activities shall be conducted in accordance
with applicable laws and relations, including without limitation, current Good Manufacturing Practices as defined in regulations promulgated pursuant to the FFDCA and the requirements of Pfizer’s quality systems and procedures. 

(e) In the event that, at any time during the Term, BIND is, or anticipates it shall be, unable or unwilling at any time to supply any
Agreement Compounds or Covered Product ordered by Pfizer, BIND shall promptly notify Pfizer of such and in the event of either (i) or (ii) Pfizer may, in addition to any other rights or remedies hereunder and at its option, either purchase
from a Third Party or Manufacture and/or package for itself quantities of such Agreement Compounds or Covered Product sufficient to replace any quantities of Agreement Compounds or Covered Product which BIND is unable or unwilling to supply. Upon
the request of Pfizer, BIND shall provide reasonable assistance to Pfizer in arranging for such Manufacture by Pfizer, Pfizer’s Affiliates or by alternative suppliers, including providing technical personnel, at BIND’s expense, to Pfizer,
Pfizer’s Affiliates and the alternative supplier, and BIND will cooperate to provide to Pfizer, Pfizer’s Affiliates or such Third Party manufacturer, under obligations of confidentiality and non-use, that is equivalent to the protection
provided in Section 12 of this Agreement, to provide protection of BIND’s intellectual property , all BIND existing manufacturing information and Know-How reasonably required or useful for Pfizer, Pfizer’s Affiliates or such Third
Party to perform such Manufacturing of Agreement Compounds and Covered Products for Pfizer. 

  
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 6.3. Other Clinical Supplies and Commercial Supplies. 

(a) Upon commencement of the first Phase 1 Study, BIND and Pfizer will enter into good faith negotiations for a period of [***] to
discuss the Manufacture of Agreement Compounds by BIND for further Development and Commercialization by Pfizer. 
 (b) If (i),
following such good faith negotiations, Pfizer determines (in its sole discretion) that Pfizer, Pfizer’s Affiliates or a Third Party should assume a primary or second-source manufacturing role or (ii) at any time during the Term BIND is,
or anticipates it shall be, unable or unwilling at any time to supply any Agreement Compounds or Covered Product ordered by Pfizer, BIND shall promptly notify Pfizer of such and in the event of either (i) or (ii), then BIND shall provide
reasonable assistance to Pfizer in arranging for the transition, including providing technical personnel, of the Manufacturing of Agreement Compounds and Covered Products to Pfizer, Pfizer’s Affiliates or a Third Party manufacturer, and BIND
will cooperate to provide to Pfizer, Pfizer’s Affiliates or such Third Party manufacturer, under obligations of confidentiality and non-use, that is equivalent to the protection provided in Section 12 of this Agreement, to provide
protection of BIND’s intellectual property in form and substance satisfactory to BIND, all existing BIND manufacturing information and Know-How reasonably required or useful for Pfizer, Pfizer’s Affiliates or such Third Party to perform
such Manufacturing of Agreement Compounds and Covered Products for Pfizer. In such event, Pfizer shall be responsible for the further Manufacturing of Agreement Compounds and Covered Products and shall contract directly with any Third Party
manufacturer. Pfizer shall be solely responsible for all costs associated with the purchase of Agreement Compounds and Covered Products from any Third Party manufacturer. BIND will have no responsibility to Pfizer for Pfizer’s further supply of
Agreement Compounds and Covered Products to be provided by a Third Party manufacturer pursuant to this Section 6.3(b); provided that, Pfizer and BIND shall remain in communication throughout Development and Commercialization regarding
Pfizer’s manufacturing requirements and any technical or other issues in connection therewith and BIND’s expertise and resources that could be made available to Pfizer on terms to be negotiated by the Parties. To the extent required to
satisfy 35 USC § 204, Pfizer and BIND agree that any Covered Products used or sold in the United States will be manufactured substantially in the United States. 
  

	Section 7.	(Sub)licenses and Other Rights. 

 7.1. (Sub)licenses to Pfizer. 
 (a) Design/Preclinical Collaboration
Project License. Subject to the terms and conditions of this Agreement, BIND hereby grants to Pfizer a non-exclusive, worldwide, royalty-free (sub)license under the BIND Technology and BIND’s right, title and interest in and to the Joint
IP, solely to the extent necessary for Pfizer to conduct its obligations and responsibilities allocated to it under the Design/Preclinical Collaboration Project during the Design/Preclinical Collaboration Term only. Such (sub)license may be
sublicensed or other rights granted thereunder by Pfizer only to its Affiliates or to permitted subcontractors under Section 2.4. 

 

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 (b) Exclusive Licenses. Subject to the terms and conditions of this Agreement:

 (i) [***] License. On Exercise of the [***], BIND will and hereby does grant to Pfizer an exclusive,
royalty-bearing (sub)license, with the right to grant sublicenses or other rights thereunder only to the extent permitted under Section 7.4, under the BIND Technology and BIND’s right, title and interest in and to the Joint IP, for the
Term only (subject to the provisions of Section 14.1), solely to use, have used, Develop, have Developed, Commercialize, have Commercialized (including to use, sell, offer for sale and import) and, solely to the extent set forth in
Section 6, Manufacture and have Manufactured, [***] Agreement Compounds and [***] Covered Products, in the Field and Territory only. 
 (ii) [***] License. On Exercise of the [***], BIND will and hereby does grant to Pfizer an exclusive, royalty-bearing (sub)license, with the right to grant sublicenses or other rights thereunder
only to the extent permitted under Section 7.4, under the BIND Technology and BIND’s right, title and interest in and to the Joint IP, for the Term only (subject to the provisions of Section 14.1), solely to use, have used, Develop,
have Developed, Commercialize, have Commercialized (including to use, sell, offer for sale and import) and, solely to the extent set forth in Section 6, Manufacture and have Manufactured, [***] Agreement Compounds and [***] Covered Products, in
the Field and Territory only. 
 (iii) Notwithstanding anything herein to the contrary, BIND will retain the
right to perform the Design/Preclinical Collaboration Project and to Manufacture and supply Agreement Compounds as described in Section 6.1 and as the Parties may otherwise agree in writing. 

(c) Internal Research License for Disclosures. Subject to the terms and conditions of this Agreement, BIND hereby grants to Pfizer
a non-exclusive, irrevocable, perpetual, royalty-free, fully paid-up, worldwide (sub)license to use solely for internal research purposes BIND’s Know-How or Confidential Information (other than any BIND Manufacturing/Formulation Trade Secret)
disclosed to Pfizer during the Term in connection with this Agreement. Such (sub)license may be sublicensed or other rights granted thereunder by Pfizer only to its Affiliates. 

7.2. (Sub)licenses to BIND. 
 (a) Design/Preclinical Collaboration Project License. Subject to the terms and conditions of this Agreement, Pfizer hereby grants to BIND a non-exclusive, worldwide and 

 
  

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 -28-

 
royalty-free (sub)license under the Pfizer Technology and Pfizer’s right, title and interest in and to the Joint IP, for the Design/Preclinical Collaboration Term only, solely to the extent
necessary for BIND to conduct its obligations and responsibilities allocated to it under the Design/Preclinical Collaboration Project during the Design/Preclinical Collaboration Term only. Such (sub)license may be sublicensed or other rights granted
thereunder by BIND only to its Affiliates or to permitted subcontractors under Section 2.4. 
 (b) Internal Research
License for Disclosures. Subject to the terms and conditions of this Agreement, Pfizer hereby grants to BIND a non-exclusive, irrevocable, perpetual, royalty-free, fully paid-up, worldwide (sub)license to use solely for internal research
purposes Pfizer’s Know-How or Confidential Information (other than any Pfizer Manufacturing/Formulation Trade Secret) disclosed to BIND during the Term in connection with this Agreement. Such (sub)license may be sublicensed or other rights
granted thereunder by BIND only to its Affiliates. 
 7.3. Regulatory License Grants. 

(a) General. The Parties will generate Pfizer Regulatory Data for Agreement Compounds and Covered Products under this Agreement,
and BIND intends to generate BIND Regulatory Data itself and with its Third Party licensees. To the extent that any such Pfizer Regulatory Data or BIND Regulatory Data includes data concerning AccurinsTM as a drug class generally (collectively,
“AccurinTM Class Specific Data”), then the following licenses shall apply; provided, however only to the extent the underlying clinical study target, therapeutic or Pfizer Compound is not revealed by the inclusion of any such
data in such license: 
 (i) Grant by BIND. Subject to the terms and conditions of this Agreement, BIND
will grant to Pfizer and its Affiliates, for Agreement Compounds and Covered Products, a non-exclusive, royalty-free, fully paid-up, worldwide license, with the right to sublicense only as provided in Section 7.4, under AccurinTM Class
Specific Data Controlled by BIND and its Affiliates, in the Field in the Territory, and only for those activities for which Pfizer has a then-effective license under Section 7.1. The foregoing license grant will not include any right to
reference any Regulatory Documentation filed with a Regulatory Authority. 
 (ii) Grant by Pfizer. Pfizer
will grant to BIND and its Affiliates, a perpetual, irrevocable, non-exclusive, royalty-free and fully paid-up, worldwide license, with the right to grant sublicenses, under AccurinTM Class Specific Data owned or controlled by Pfizer and its
Affiliates or Sublicensees, to research, develop and commercialize AccurinsTM (excluding Agreement Compounds, Covered Products and Pfizer Compounds). The foregoing license grant will not include any right to reference any Regulatory
Documentation filed with a Regulatory Authority. The foregoing license may be sublicensed by BIND and its Affiliates solely to any sublicensees of BIND that license to BIND similar rights to data concerning AccurinsTM as a drug class generally
that are generated by or for BIND or such sublicensee so that BIND Controls rights in such data and that such rights are made available to Pfizer under Section 7.3(a)(i) above. 

(b) Disclosure of AccurinTM Class Specific Data. To the extent that any AccurinTM Class Specific Data is not
already subject to disclosure by one Party to the other Party hereunder, copies of any AccurinTM Class Specific Data subject to a license grant in this Section 7.3(b) will be provided by the granting Party to the licensee Party, when and as
any such AccurinTM Class Specific Data becomes available to the granting Party. 

  
 -29-

 7.4. Transfer and Sublicensing. 

(a) The (sub)licenses granted in Sections 7.1(b) and 7.2 are transferable only upon a permitted assignment of this Agreement in accordance
with Section 15.1. 
 (b) The (sub)licenses granted in Sections 7.1(b) and 7.2 may be sublicensed and other rights granted
thereunder by Pfizer to Third Parties, but only in compliance with the following: 
 (i) Pfizer may grant a
sublicense to an Affiliate of Pfizer as a Sublicensee hereunder, provided such sublicense only remains in effect for as long as such Sublicensee remains an Affiliate of Pfizer; 

(ii) Pfizer may grant a sublicense to non-Affiliated Third Parties that are clinical research organizations, contract
manufacturers, contract laboratory organizations, distributors (provided that such distributors are not granted exclusive rights to Commercialize a Covered Product in any territory or to any customer segment) and other similar organizations that
support the Development and Commercialization of Agreement Compounds and Covered Products on a fee-for-service basis as Sublicensees hereunder, provided that such sublicenses include obligations of confidentiality and non-use to provide robust
protection of BIND’s intellectual property in form and substance satisfactory to BIND; 
 (iii) Pfizer may
grant a sublicense to other non-Affiliated Third Parties as a Sublicensee hereunder, provided that such sublicenses include terms and obligations that are substantially similar to the terms and obligations in this Agreement that are expressly
applicable to Pfizer’s sublicensees, including regarding indemnification, assignment of intellectual property rights as provided in Section 9, confidentiality and non-use, to provide protection of BIND’s intellectual property and
other rights that is equivalent to the protection provided by Pfizer to BIND under this Agreement, such protection to be provided in form and substance satisfactory to BIND, provided that BIND’s consent to such form and substance will not be
unreasonably withheld; 
 (iv) Pfizer will be responsible for any and all obligations of any such Sublicensee as
if such Sublicensee were “Pfizer” hereunder; and 
 (v) Pfizer will provide prompt written notice to
BIND after the grant of each such Sublicense; to the extent required by any BIND Third Party License Agreement, (a) BIND may provide a copy of any such notice to the licensor under such BIND Third Party License Agreement and (b) on
BIND’s written request, Pfizer shall supply to such licensor directly a copy of such Sublicense, under appropriate conditions of confidentiality. 

  
 -30-

 For avoidance of doubt, (i) Pfizer acknowledges that the grant of one or more Sublicenses hereunder
does not limit or alter the obligations imposed hereunder on Pfizer, including the obligations under Section 5.2 and (ii) BIND acknowledges that the activities of any Sublicensee pursuant to any such Sublicense shall apply in determining
whether Pfizer has satisfied such obligations. 
 7.5. Direct Licenses to Affiliates. Pfizer may, from time to time,
request that BIND grant (sub)licenses directly to Affiliates of Pfizer by giving written notice, upon receipt of which BIND agrees to enter into and sign a separate direct license agreement with such designated Affiliate of Pfizer. All such direct
license agreements shall be consistent with the terms and conditions of this Agreement, except for such modifications as may be required by applicable laws in the country in which the direct license will be exercised. The Parties further agree to
make any amendments to this Agreement that are necessary to conform the combined terms of such direct licenses and this Agreement to the terms of this Agreement as set forth on the Effective Date. Notwithstanding the foregoing, BIND shall not be
required by this Section 7.5, or otherwise, to grant any such (sub)licenses to Affiliates of Pfizer, or to agree to any such amendments to this Agreement, if BIND reasonably determines that such grant or such agreement would materially
prejudice or impair BIND’s rights or benefits hereunder, or would impose any material additional obligation on BIND. All costs of making such direct license agreement(s), including BIND’s reasonable attorneys’ fees, under this
Section 7.5 shall be borne by Pfizer. 
 7.6. No Other Licenses or Rights. Nothing herein will be construed as
creating, granting or otherwise conveying to either Party any license or other right (whether by implication, estoppel or otherwise) other than those licenses and other rights that are expressly provided for in this Agreement. 

7.7. MIT License Agreement Restrictions. 
 (a) Pfizer, for itself and on behalf of its Affiliates and Sublicensees covenant that MIT Patents will not be asserted against not-for-profit institutions for use on research funded by the institutions
themselves, by non-for-profit foundations, by the Howard Hughes Medical Institute, by any state government, or by the United States federal government. 
 (b) Pfizer and its Affiliates and Sublicensees shall comply with all United States laws and regulations controlling the export of certain commodities and technical data, including all Export
Administration Regulations of the United States Department of Commerce. Among other things, these laws and regulations prohibit or require a license for the export of certain types of commodities and technical data to specified countries. Pfizer
hereby gives written assurance that it will comply with, and will cause its Affiliates and Sublicensees to comply with, all United States export control laws and regulations, that it bears sole responsibility for any violation of such laws and
regulations by itself or its Affiliates or Sublicensees, and that it will indemnify, defend, and hold MIT, Brigham, Harvard, CMCC and GIST harmless (in accordance with Section 13.7(a) for the consequences of any such violation. 

(c) Pfizer and its Affiliates and Sublicensees will not use the names “Massachusetts Institute of Technology,”
“Lincoln Laboratory,” “Brigham and Women’s 

  
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Hospital,” “Gwangju Institute of Science & Technology” or any variation, adaptation or abbreviation thereof, or of any of its trustees, officers, faculty,
students, employees, or agents (collectively, “Associates,” or an individual related to a particular institution, an “Associate”), or any trademark owned by MIT, Brigham, CMCC or GIST, or any terms of the MIT
License Agreement in any promotional material or other public announcement or disclosure without the prior written consent of the applicable party, or in the case of the name of a Brigham, CMCC or GIST Associate, the written consent of such Brigham,
CMCC or GIST Associate. 
 (d) Pfizer acknowledges the following retained rights under the MIT License Agreement: 

(i) MIT, Brigham, CMCC and GIST retain the right to practice the MIT Patents for research, teaching and educational
purposes. 
 (ii) The United States federal government retains a royalty-free, non-exclusive, non-transferable
license to practice any government-funded invention claimed in any MIT Patents as set forth in 35 U.S.C. §§ 201-211, and the regulations promulgated thereunder, as amended, or any successor statutes or regulations. 

(iii) University of Santiago De Compostela retains a perpetual non-exclusive right to practice the MIT Patents for MIT
Case No. 6271 for the purpose of conducting work in connection with its grant “Surface modified nanostructures as delivery vehicles for transmucosal vaccination” (principal investigator Maria Alonso). 

(iv) DuPont retains a perpetual non-exclusive right to practice the intellectual property associated with MIT Case
No. 11257, “Bioadhesive Polymers-Coated Controlled Release Polymer Particles as Efficient Oral Delivery Vehicles for Biopharmaceuticals,” by Jianjun Cheng, Omid C. Farokhzad, Sangyong Jon and Robert S. Langer. MIT interprets
its agreement with DuPont to provide that DuPont may not sublicense such right or assign such right without MIT’s consent, and MIT has agreed not provide any such consent without the prior approval of BIND. 

(v) For avoidance of doubt, all rights granted hereunder to MIT Patents and MIT Know-How are subject to the terms and
conditions set forth in the MIT License. 
 7.8. JHU License Agreement Restrictions. 

(a) Pfizer and its Affiliates and Sublicensees shall not use the name of The Johns Hopkins University or The Johns Hopkins Health System
or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction thereof or the name of Inventors (as defined in the JHU License Agreement) in any advertising, promotional, sales literature or fundraising documents without
prior written consent from an authorized representative of JHU. In the event that Pfizer wishes to do any of the foregoing, Pfizer shall allow at least seven (7) business days’ notice of any such proposed public disclosure for JHU’s
review and comment or to provide written consent. 

  
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 (b) Pfizer acknowledges the following retained rights under the JHU License Agreement:

 (i) JHU retains the right to make, have made, provide and use for its and The Johns Hopkins Health
Systems’ non-commercial, nonprofit academic research purposes COVERED PRODUCTS (as such capitalized term is defined the JHU License Agreement), including the ability to distribute any biological material disclosed and/or claimed in the JHU
Patents for non-commercial, nonprofit academic research use to non-commercial entities as is customary in the scientific community. 
 (ii) The United States federal government may have acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced for or on behalf of the United States the inventions
described in the JHU Patents throughout the world. The rights granted in the JHU License Agreement are additionally subject to: (i) the right of the United States government to require JHU, or its licensees, including Pfizer or BIND, to grant
sublicenses to responsible applicants on reasonable terms when necessary to fulfill health or safety needs, and, (ii) other rights acquired by the United States federal government under the laws and regulations applicable to the grant/contract
award under which the inventions were made. 
 7.9. Yale License Restrictions. 

(a) Pfizer acknowledges that the rights granted hereunder are subject to the retained right of Yale, for itself and all other non-profit
academic research institutions, to make, use and practice the LICENSED PATENTS and the LICENSED METHODS for research, clinical, teaching or other non-commercial purposes, and not for purposes of commercial development, use, manufacture or
distribution and that nothing under this Agreement shall be construed to grant by implication, estoppel or otherwise any licenses under patents of Yale other than the LICENSED PATENTS. 

(b) Pfizer agrees that if Pfizer, an Affiliate or Sublicensee of Pfizer brings a PATENT CHALLENGE against Yale (except as required under
a court order or subpoena), then this Agreement shall terminate with respect to the rights granted under the LICENSED PATENTS and the LICENSED METHODS. 
 (c) For avoidance of doubt, all terms shown in all capital letters in this Section 7.9 shall have the definition provided under the Yale License Agreement. 

 

	Section 8.	Pfizer Payments to BIND. 

 8.1. Initial License Fee. In consideration of the execution and delivery of this Agreement, Pfizer will pay to BIND [***] US dollars [***], comprised of [***] US dollars [***] per Compound Family,
such amount to be paid by Pfizer within ten (10) days after the Effective Date. Such payment will be non-refundable and non-creditable. 

 

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 8.2. Option Fee. 

(a) [***]. 
 (b) [***]. 
 (c) The maximum total amount payable pursuant to this
Agreement in Option Fees is [***] US dollars [***]. Such payments will be non-refundable and non-creditable. For clarity, if Pfizer Exercises only the [***], then Pfizer will only be obligated to pay BIND [***] US dollars [***], regardless of the
number of Agreement Compounds or Covered Products which are Developed or Commercialized pursuant to, respectively, the [***] and will not be obligated to pay any other Option Fee. By way of further example, if Pfizer Exercises, Pfizer will only be
obliged to pay BIND [***] US dollars [***] regardless of the number of Agreement Compounds or Covered Products which are Developed or Commercialized under the [***]. 
 8.3. Development Milestone Payments. 
 (a) Pfizer will make Development
Milestone Payments to BIND, as set forth in the following table, upon the first achievement of each of the Development Milestones Events by the first [***] Agreement Compound or [***] Covered Product to achieve such Event, whether such achievement
is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 
 (b) Pfizer will make Development Milestone Payments to BIND, as
set forth in the following table, upon the first achievement of each of the Development Milestones Events by the first [***] Agreement Compound or [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate
of Pfizer or a Sublicensee. 
 (c) Each Development Milestone Payment will be payable by Pfizer to BIND within [***] after
becoming due hereunder and will be non-refundable and non-creditable (upon the request of Pfizer, BIND will issue an invoice for any Development Milestone Payment due hereunder). 

 

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 (d) Each Development Milestone Payment will be due and payable a maximum of two
(2) times (i.e., once with respect to a [***] Agreement Compound or [***] Covered Product and once with respect to a [***] Agreement Compound or [***] Covered Product). 

 

					
	 Development Milestone Event
	  	Development Milestone Payment	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

 If one or more Development Milestone Event(s) is not achieved with respect to a [***] Covered Product or
[***] Covered Product, but a subsequent Development Milestone Event is achieved for such Covered Product, then the Development Milestone Payment(s) for such earlier skipped Milestone Event(s) will be due and payable with and in addition to the
Development Milestone Payment for the subsequently achieved Development Milestone Event. 
 8.4. Supplemental NDA Milestone
Payments. 
 (a) If Pfizer Exercises the [***], Pfizer will make Supplemental NDA Milestone Payments to BIND, as set forth
in the following table, upon the first achievement of each of the Supplemental NDA Milestones Events by the first [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee.

 (b) If Pfizer Exercises the [***], Pfizer will make Supplemental NDA Milestone Payments to BIND, as set forth in the
following table, upon the first achievement of each of the Supplemental NDA Milestones Events by the first [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 

(c) Each Supplemental NDA Milestone Payment will be payable by Pfizer to BIND within [***] after becoming due hereunder and will be
non-refundable and non-creditable (upon the request of Pfizer, BIND will issue an invoice for any Supplemental NDA Milestone Payment due hereunder). 
 (d) Each Supplemental NDA Milestone Payment will be due and payable a maximum of [***]. 
  

					
	 Supplemental NDA Milestone Event
	  	Supplemental NDA
Milestone 
Payment	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

  

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 8.5. Regulatory Approval Milestone Payments. 

(a) If Pfizer Exercises the [***], Pfizer will make Regulatory Approval Milestone Payments to BIND, as set forth in the following table,
upon the first achievement of each of the Regulatory Approval Milestones Events by the first [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 

(b) If Pfizer Exercises the [***], Pfizer will make Regulatory Approval Milestone Payments to BIND, as set forth in the following table,
upon the first achievement of each of the Regulatory Approval Milestones Events by the first [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 

(c) Each Regulatory Approval Milestone Payment will be payable by Pfizer to BIND within [***] after becoming due hereunder and will be
non-refundable and non-creditable (upon the request of Pfizer, BIND will issue an invoice for any Regulatory Approval Milestone Payment due hereunder). 
 (d) Each Regulatory Approval Milestone Payment will be due and payable a maximum of [***]. 
  

					
	 Regulatory Approval Milestone Event
	  	Regulatory Approval
Milestone 
Payment	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

 8.6. First Commercial Sale Milestone Payments. 

(a) If Pfizer Exercises the [***], Pfizer will make First Commercial Sale Milestone Payments to BIND, as set forth in the following
table, upon the first achievement of each of the First Commercial Sale Milestones Events by the first [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 

(b) If Pfizer Exercises the [***], Pfizer will make First Commercial Sale Milestone Payments to BIND, as set forth in the following
table, upon the first achievement of each of the First Commercial Sale Milestones Events by the first [***] Covered Product to achieve such Event, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 

 

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 (c) Each First Commercial Sale Milestone Payment will be payable by Pfizer to BIND within
[***] after becoming due hereunder and will be non-refundable and non-creditable (upon the request of Pfizer, BIND will issue an invoice for any First Commercial Sale Milestone Payment due hereunder). 

(d) Each First Commercial Sale Milestone Payment will be due and payable a maximum of [***]. 

 

					
	 First Commercial Sale Milestone Event
	  	First Commercial 
Sale
Milestone Payment	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

 8.7. Sales Milestones. 
 (a) If Pfizer Exercises the [***], Pfizer will make Sales Milestone Payments to BIND, as set forth in the following table, upon the first achievement of each of the Sales Milestones Events, by the first
[***] Covered Product to achieve such Event, within the first ten (10) years following the First Commercial Sale of such [***] Covered Product, whether such achievement is made by Pfizer, an Affiliate of Pfizer or a Sublicensee. 

(b) If Pfizer Exercises the [***], Pfizer will make Sales Milestone Payments to BIND, as set forth in the following table, upon the first
achievement of each of the Sales Milestones Events by the first [***] Covered Product to achieve such Event, within the first ten (10) years following the First Commercial Sale of such [***] Covered Product, whether such achievement is made by
Pfizer, an Affiliate of Pfizer or a Sublicensee. 
 (c) Each Sales Milestone Payment will be payable by Pfizer to BIND within
[***] after becoming due hereunder and will be non-refundable and non-creditable (upon the request of Pfizer, BIND will issue an invoice for any Sales Milestone Payment due hereunder). 

(d) Each Sales Milestone Payment will be due and payable a maximum of [***]. 

 

					
	 Annual Net Sales Milestone Event
	  	Annual Net Sales Milestone Payment	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

  

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 8.8. Royalties. 

(a) Royalties. Subject to the terms and conditions of this Agreement, including Sections 8.9 and 8.10 below: 

(i) if Pfizer Exercises the [***], Pfizer will pay to BIND royalties, during the Royalty Term as set forth in
Section 8.8(b) below, at the marginal royalty rates specified in the following table with respect to the aggregate annual Net Sales resulting from the sale of [***] Covered Products, on a Covered Product-by-Covered Product basis, in the
Territory during each Pfizer Year for each Covered Product, and 
 (ii) if Pfizer Exercises the [***], Pfizer
will pay to BIND royalties, during the Royalty Term as set forth in Section 8.8(b) below, at the marginal royalty rates specified in the following table with respect to the aggregate annual Net Sales resulting from the sale of [***] Covered
Products, on a Covered Product-by-Covered Product basis, in the Territory during each Pfizer Year for each Covered Product: 
  

					
	 Aggregate Annual Net Sales Per Covered Product in a Calendar Year
	  	Marginal Royalty Rate	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

 The applicable royalty rate will be determined by reference to all Net Sales on which royalties are payable in a given
Pfizer Year for a given Covered Product. Each Marginal Royalty Rate set forth in the table above shall apply only to that portion of the Net Sales of a given Covered Product in the Territory during a given Pfizer Year that falls within the indicated
range. By way of example, in a given Pfizer Year, if the aggregate annual worldwide Net Sales of a Covered Product for which royalties are due under this Section 8.8(a) were [***], the following royalty payment would be payable under this
Section 8.8(a) (subject to all reductions set forth in this Agreement): [***]. 
 (b) Royalty Term. The royalties
due under Section 8.8(a) will be payable on Net Sales of a particular Covered Product, on a Covered Product-by-Covered Product and country-by-country basis, commencing on the First Commercial Sale of such Covered Product in 

 
  

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such country and continuing until the last to occur of: (i) the expiration or termination of the last to expire of any Valid Claim included in any BIND Patent or Joint Patent that covers the
manufacture, use, sale, or importation of such Covered Product in or into such country, or (ii) twelve (12) years following the First Commercial Sale of such Covered Product in such country (the “Royalty Term”). If a
Covered Product sold in or into a country is royalty-bearing only on account of Section 8.8(b)(ii) (and Section 8.8(b)(i) does not apply to the sale of such Covered Product because the manufacture, use, sale, or importation of such Covered
Product in or into such country no longer infringes one or more Valid Claims included in any BIND Background Patent, Sponsored Design/Preclinical Collaboration Patent, or Joint Patent), then the royalties set forth in Section 8.8(a) with
respect to the sale of such Covered Product in or into such country will be reduced by [***]. 
 (c) Additional Royalty
Provisions. 
 (i) Only one royalty will be due with respect to the sale of the same unit of Covered Product.

 (ii) Royalties when owed or paid hereunder will be non-refundable and non-creditable and not subject to
set-off, except as expressly set forth herein. 
 (iii) Only one royalty will be due hereunder on the sale of a
Covered Product even if the manufacture, use, sale, offer for sale or importation of such Covered Product infringes more than one (1) Patent. 
 8.9. Third Party Licenses. 
 (a) Pfizer will reimburse BIND for all Third
Party royalty payments owed by BIND under any BIND Third Party License Agreements; provided that, such reimbursement shall not exceed [***] of Net Sales of each Covered Product. 

(b) In the event that it is necessary or desirable for Pfizer to obtain one or more licenses from one or more Third Parties (not
including any Sublicensees) for intellectual property that Pfizer deems necessary or desirable in order to develop, manufacture, commercialize or use any Covered Product, whether directly or through any Pfizer Affiliate or Sublicensee, Pfizer will
inform BIND, and any royalty payments that are otherwise payable to BIND by Pfizer with respect to the sale of such Covered Products will be reduced by [***] of any amounts payable under such licenses by Pfizer for sale of such Covered Product;
provided that, in no case (other than in the case of BIND’s breach of a representation set forth in clauses (n), (l), (o) or (p) of Section 13.1 or a covenant set forth in Section 13.2) will royalties otherwise payable to
BIND for any Pfizer Year be reduced by more than [***]. For purposes of clarity, (i) this provision will not apply to the reimbursement of BIND pursuant to Section 8.9(a), and (ii) Pfizer will be solely responsible for paying
royalties and milestones owed to its existing licensors in connection with other product components of Covered Products, and such amounts will not be 
  

 

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taken into account for purposes of reducing any of the royalties payable by Pfizer to BIND under this Agreement. For further clarity, Pfizer shall be entitled to carry forward any amounts
eligible to be offset against royalty payments to BIND that have not been offset previously due to the [***] cap on royalty reductions provided in this Section 8.9(b). 
 8.10. Generic Entry. Any royalty otherwise payable to BIND under this Agreement with respect to Net Sales of a given Covered Product in a given country in the Territory will be reduced by [***] for
the remainder of the applicable Royalty Term if at any time during such Royalty Term a Generic Product becomes available in such country. For purposes of clarity, this provision will not apply to the reimbursement of BIND pursuant to
Section 8.9(a). 
 8.11. Expenses and FTE Rate. 

(a) FTE; External Expenses. The payment of funding for BIND FTEs and external expenses will be due and payable as further provided
in this Section 8.11. 
 (i) Quarterly FTE and External Expense Payments. Pfizer will reimburse BIND
at the FTE Rate per FTE per calendar year for the number of FTEs of BIND specified in the Design/Preclinical Collaboration Plan during the Design/Preclinical Collaboration Term within [***] after receipt of an invoice issued by BIND within [***]
after the end of each calendar quarter. During the Design/Preclinical Collaboration Term, Pfizer shall reimburse BIND’s out-of-pocket costs incurred by BIND and paid to Third Parties in connection with executing the Design/Preclinical
Collaboration Plan, but only to the extent contemplated in the Design/Preclinical Collaboration Plan or otherwise approved by Pfizer in advance in writing. 
 (ii) Other Expenses. If Pfizer requests BIND to perform additional work under this Agreement (that is, in addition to the work to be performed under Section 2.1(c), the manufacture and supply
services to be performed under Section 6.1 and the manufacturing technology transfer described in Section 6.2), Pfizer and BIND will agree in advance in writing to a work plan and compensation to be paid to BIND in accordance with its
performance thereunder. 
 8.12. Payment Terms. 
 (a) Manner of Payment. All payments to be made by Pfizer hereunder will be made in US dollars by wire transfer in accordance with the following instructions or such other instructions as BIND may
designate during the term: 
 Beneficiary Bank Information: 

[***] 

 

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portions. 

  
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 (b) Payment of Expenses. Pfizer shall pay BIND within [***] of receiving any invoice
from BIND for those expenses incurred by BIND in accordance with Section 8.9(a) and Section 8.11. 
 (c) Reports and
Royalty Payments. For as long as royalties are due under Section 8.8(a), Pfizer will furnish to BIND a written report on a Covered Product-by-Covered Product and country-by-country basis, within [***] after the end of each calendar quarter,
showing the amount of Net Sales of Covered Products and royalty due for the most recent Pfizer Quarter ending during for such calendar quarter. Royalty payments for each Pfizer Quarter will be due at the same time as such written report for the
calendar quarter. The report will include, at a minimum, the following information for the applicable calendar quarter, each listed by Covered Product and by country of sale: (i) Net Sales of each Covered Product; (ii) the basis for any
adjustments to the royalty payable for the sale of any such Covered Product and (ii) the royalties owed hereunder for the sale of each such Covered Product. No such reports shall be due for any such Covered Product (i) before the First
Commercial Sale of such Covered Product or (ii) after the Royalty Term for such Covered Product has expired in all countries in the Territory. All such reports will be treated as Confidential Information of Pfizer. 

(d) Records and Audits. Each Party will keep, and will cause each of its Affiliates and Sublicensees to maintain, complete and
accurate books and records relating to the rights and obligations under this Agreement and any amounts payable to BIND in relation to this Agreement or payable by Pfizer in relation to FTE reimbursement, which records shall contain sufficient
information to permit the relevant Party to confirm the accuracy of any reports or invoices delivered to the other Party and compliance in other respects of this Agreement. For the three (3) years next following the end of the calendar quarter
to which each will pertain, such books and records will be kept at each of their principal place of business and will be open for inspection upon thirty (30) days prior notice by an independent certified accounting firm of nationally recognized
standing selected by the relevant Party and reasonably acceptable to the other Party to examine, at the relevant Party’s sole expense, the relevant books and records of the other Party and its Affiliates as may be reasonably necessary to verify
any reports and payments made under this Agreement. An examination by a Party under this Section 8.12(e) shall occur not more than once in any calendar year and shall be limited to the pertinent books and records for any calendar year ending
not more than three (3) years before the date of the request. The accounting firm shall be provided access to such books and records at a Party’s or its Affiliates’ facility(ies) where such books and records are normally kept and such
examination shall be conducted during such Party’s normal business hours. Such accountant must have executed and delivered to the audited Party a confidentiality agreement as reasonably requested by such audited Party. Upon completion of the
audit, the accounting firm shall provide both Pfizer and BIND a written report disclosing any discrepancies in the reports submitted by Pfizer or BIND, as applicable, or the payments and reimbursements made by Pfizer to BIND, and, in each case, the
specific details concerning any discrepancies. No other information shall be provided to the auditing Party. The results of such inspection, if any, will be binding on both Parties. Any 
  
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
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underpayments will be paid by Pfizer within sixty (60) days of notification of the results of such inspection. Any overpayments by Pfizer will be creditable against amounts payable in
subsequent payment periods and if there are no such payments payable, then BIND shall pay to Pfizer the amount of the discrepancy within sixty (60) days of notification of the results of such inspection. The auditing Party will pay for such
inspections, except that (i) in the event there is any upward adjustment in aggregate amount of royalties payable by Pfizer for any calendar year shown by such inspection of more than [***] of the amount paid, Pfizer will reimburse BIND for any
reasonable costs and expenses of such accountant, and (ii) in the event there is any downward adjustment in aggregate amount of FTE reimbursement payable by Pfizer for any calendar year shown by such inspection of more than [***] of the amount
paid, BIND will reimburse Pfizer for any reasonable costs and expenses of such accountant. 
 (e) Currency Exchange. With
respect to Net Sales invoiced in US dollars, the Net Sales and the amounts due to BIND hereunder will be expressed in US dollars. With respect to Net Sales invoiced in a currency other than US dollars, the Net Sales will be expressed in the domestic
currency of the entity making the sale for the relevant calendar quarter, together with the US dollar equivalent, calculated using a rate of exchange which corresponds to the rate used for conversion between the relative currencies by Pfizer for
public financial accounting purposes. If, due to restrictions or prohibitions imposed by national or international authority, a given payment cannot be made as provided in this Section 8.12(e), the Parties shall consult with a view to finding a
prompt and acceptable solution. If the Parties are unable to identify a mutually acceptable solution regarding such payment, then Pfizer may elect, in its sole discretion, to deliver such payment in the relevant jurisdiction and in the local
currency of the relevant jurisdiction. 
 (f) Tax Withholding. It is understood and agreed between the parties that any
payments made this Agreement are inclusive of any value added or similar tax imposed upon such payments. In addition, in the event any of the payments made by Pfizer pursuant to this Agreement become subject to withholding taxes under the Laws
of any jurisdiction, Pfizer shall deduct and withhold the amount of such taxes for the account of BIND, to the extent required by Law, such amounts payable to BIND shall be reduced by the amount of taxes deducted and withheld, and Pfizer shall pay
the amounts of such taxes to the proper Governmental Authority in a timely manner and promptly transmit to BIND an official tax certificate or other evidence of such tax obligations together with proof of payment from the relevant Governmental
Authority of all amounts deducted and withheld sufficient to enable BIND to claim such payment of taxes. Any such withholding taxes required under applicable Law to be paid or withheld shall be an expense of, and borne solely by, BIND. Pfizer
will provide BIND with reasonable assistance to enable BIND to recover such taxes as permitted by Law. 
 8.13. Mutual
Convenience of the Parties. The royalty and other payment obligations set forth hereunder have been agreed to by the Parties for the purpose of reflecting and advancing their mutual convenience, including the ease of calculating and paying
royalties and other amounts to BIND. 
  

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portions. 

  
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 8.14. No Guarantee of Success. Pfizer and BIND acknowledge and agree that payments to
BIND pursuant to Section 8.2, Section 8.3, Section 8.4, Section 8.5, Section 8.6, Section 8.7, and Section 8.8: (a) have been included in this Agreement on the basis that they are only payable or otherwise
relevant if a Covered Product is successfully Developed or Commercialized, as applicable; (b) are solely intended to allocate amounts that may be achieved upon successful Development or Commercialization of a Covered Product between Pfizer (who
will receive all Covered Product sales revenues) and BIND; (c) are not intended to be used and will not be used as a measure of damages if this Agreement is terminated for any reason, including pursuant to Pfizer’s right to terminate at
for convenience, before any such success is achieved and such amounts become due; and (d) will only be triggered, and will only be relevant as provided, in accordance with the terms and conditions of such provisions. Pfizer and BIND further
acknowledge and agree that nothing in this Agreement will be construed as representing any estimate or projection of (i) the successful Development or Commercialization of any Agreement Compound or Covered Product under this Agreement,
(ii) the number of Agreement Compounds or Covered Products that will or may be successfully Developed or Commercialized under this Agreement, (iii) anticipated sales or the actual value of any Agreement Compounds or Covered Products that
may be successfully Developed or Commercialized under this Agreement or (iv) the damages, if any, that may be payable if this Agreement is terminated for any reason. Pfizer makes no representation, warranty or covenant, either express or
implied, that (A) it will be successful in its efforts to Develop, Manufacture, Commercialize or in its efforts to continue to Develop, Manufacture or Commercialize any Agreement Compound or Covered Product in any country, (B) if
Commercialized, that any Covered Product will achieve any particular sales level, whether in any individual country or cumulatively throughout the Territory or (C) Pfizer will devote, or cause to be devoted, any level of diligence or resources
to Developing or Commercializing any Product in any country, or in the Territory in general, other than is expressly required under Section 5.2. 
  

	Section 9.	Intellectual Property. 

 9.1. Background Technology. As between the Parties, (a) BIND will own all right, title and interest in and to the BIND Background Technology, and (b) Pfizer will own all right, title and
interest in and to the Pfizer Background Technology. 
 9.2. Ownership and Inventorship. 

(a) Certain Definitions. 
 (i) “BIND Accurin Know-How” means any BIND Background Know-How that relates to the composition of or any method of using or method of making a nanoparticle for use as part of a drug
product. 
 (ii) “BIND Accurin Patent” means any BIND Background Patent that claims or discloses
any BIND Background Know-How. As of the Effective Date, BIND Accurin Patent Rights include the Patents set forth on Exhibit 9.2(a)(ii). 

  
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 (iii) “BIND Accurin Technology” means the BIND Accurin
Know-How and the BIND Accurin Patents. 
 (iv) “Pfizer Compound Know-How” means Pfizer
Background Know-How that relates to the composition of or any method of using or method of making any Pfizer Compound. 
 (v) “Pfizer Compound Patent” means any Patent that is (a) Controlled by Pfizer or any of its Affiliates at any time during the Design/Preclinical Collaboration Term and
(b) claims or discloses the composition of or any method of using or method of making any Pfizer Compound, but excluding Sponsored Design/Preclinical Collaboration Technology and Joint IP. 

(vi) “Pfizer Compound Technology” means the Pfizer Compound Know-How and the Pfizer Compound Patents.

 (b) Ownership of Accurin Improvement Technology. As between the Parties, and subject to the rights granted to Pfizer
under this Agreement, BIND will solely own all right, title and interest in and to any and all Sponsored Design/Preclinical Collaboration Technology that constitutes an improvement, modification, enhancement or addition to BIND Accurin Technology
(“Accurin Improvement Technology”), whether such technology is created solely or jointly by either Party. Pfizer, for itself and on behalf of its Affiliates and subcontractors, and employees, subcontractors, consultants and agents
of any of the foregoing, hereby assigns (and to the extent such assignment can only be made in the future hereby agrees to assign), to BIND all right, title and interest in and to such Accurin Improvement Technology (unless already owned by BIND).
Pfizer will cooperate, and will cause the foregoing persons and entities to cooperate, with BIND to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such
ownership. For the avoidance of doubt, Accurin Improvement Technology constitutes part of BIND Technology and any Patents covering Accurin Improvement Technology are included in the BIND Patents. Any Sponsored Design/Preclinical Collaboration
Technology that constitutes both Pfizer Compound Improvement Technology and Accurin Improvement Technology shall be deemed to be Joint Sponsored Design/Preclinical Collaboration Technology. 

(c) Ownership of Pfizer Compound Improvement Technology. As between the Parties, and subject to the rights granted to BIND under
this Agreement, Pfizer will solely own all right, title and interest in and to any Sponsored Design/Preclinical Collaboration Technology that constitutes an improvement, modification, enhancement or addition to any Pfizer Compound Technology
(“Pfizer Compound Improvement Technology”), whether such technology is created solely or jointly by either Party. BIND, for itself and on behalf of its Affiliates and subcontractors, and employees, subcontractors, consultants and
agents of any of the foregoing, hereby assigns (and to the extent such assignment can only be made in the future hereby agrees to assign), to Pfizer all right, title and interest in and to such Pfizer Compound Improvement Technology (unless already
owned by Pfizer). BIND will cooperate, and will cause the foregoing persons and entities to cooperate, with Pfizer to effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents
consistent with such ownership. For the avoidance of doubt, Pfizer Compound Improvement Technology constitutes part of Pfizer Technology and any Patents covering Pfizer Compound Improvement Technology are included in the Pfizer Patents. 

  
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 (d) Ownership of Sponsored Design/Preclinical Collaboration Technology Other Than Accurin
Improvement Technology and Pfizer Compound Improvement Technology. Except as otherwise provided in Section 9.2(b), with respect to Accurin Improvement Technology, and Section 9.2(c), with respect to Pfizer Compound Improvement Technology,
ownership of any Sponsored Design/Preclinical Collaboration Technology shall be determined in accordance with this Section 9.2(d). 
 (i) BIND shall be the sole owner of Sponsored Design/Preclinical Collaboration Technology that is created or conceived solely by or on behalf of BIND (referred to herein, collectively with the Accurin
Improvement Technology, as the “BIND Sponsored Design/Preclinical Collaboration Technology”). For the avoidance of doubt, BIND Sponsored Design/Preclinical Collaboration Technology constitutes part of BIND Technology and any Patents
covering BIND Sponsored Design/Preclinical Collaboration Technology are included in the BIND Patents. 
 (ii)
Pfizer shall be the sole owner of Sponsored Design/Preclinical Collaboration Technology that is created or conceived solely by or on behalf of Pfizer (referred to herein, collectively with the Pfizer Compound Improvement Technology, as the
“Pfizer Sponsored Design/Preclinical Collaboration Technology”). For the avoidance of doubt, Pfizer Sponsored Design/Preclinical Collaboration Technology constitutes part of Pfizer Technology and any Patents covering Pfizer
Sponsored Design/Preclinical Collaboration Technology are included in the Pfizer Patents. 
 (iii) Except as
otherwise provided in Section 9.2(b), with respect to Accurin Improvement Technology, and Section 9.2(c), with respect to Pfizer Compound Improvement Technology, ownership of any Sponsored Design/Preclinical Collaboration Technology
created or conceived jointly by or on behalf of the Parties will be jointly owned by the Parties (“Joint Sponsored Design/Preclinical Collaboration Technology”). For the avoidance of doubt, Joint Sponsored Design/Preclinical
Collaboration Technology constitutes part of Joint IP and any Patents covering Joint Sponsored Design/Preclinical Collaboration Technology are included in the Joint Patents. 
 (e) Joint Ownership Generally. Each Party will have an undivided one-half interest in and to Joint Sponsored Design/Preclinical Collaboration Technology and in any other Joint IP. Each Party will
exercise its ownership rights in and to Joint IP, including the right to license and sublicense or otherwise to exploit, transfer or encumber its ownership interest, without an accounting or obligation to, or consent required from, the other Party,
but subject to the licenses hereunder and the other terms and conditions of this Agreement. At the reasonable written request of a Party, the other Party will in writing grant such consents and confirm that no such accounting is required to effect
the foregoing regarding any Joint IP. Each Party, for itself and on behalf of its Affiliates, licensees and sublicensees, and employees, subcontractors, consultants and agents of any of the foregoing, hereby assigns (and to the extent such
assignment can only be made in the future hereby agrees to assign), to the other Party a joint and undivided interest in and to all Joint IP. 

  
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 (f) Inventorship. Inventorship determination for all Patents worldwide arising from
any Sponsored Design/Preclinical Collaboration Technology and thus the ownership thereof will be made in accordance with applicable United States patent laws. 
 9.3. Disclosure of Sponsored Design/Preclinical Collaboration Technology. During the Term, BIND will promptly (and at least on a quarterly basis) disclose to Pfizer any Sponsored Design/Preclinical
Collaboration Technology created or conceived by or on behalf of BIND, and will provide such documentation regarding same as Pfizer may reasonably request, if and to the extent such Sponsored Design/Preclinical Collaboration Technology is licensed
to Pfizer under Section 7.1(b), is assigned to Pfizer under Section 9.2(c) or is jointly owned pursuant to the joint ownership provisions of Section 9.2(d)(iii). During the Term, Pfizer will promptly (and at least on a quarterly
basis) disclose to BIND any Sponsored Design/Preclinical Collaboration Technology created or conceived by or on behalf of Pfizer, and will provide such documentation regarding same as BIND may reasonably request, if and to the extent such Sponsored
Design/Preclinical Collaboration Technology is licensed to BIND under Section 7.2, is assigned to BIND under Section 9.2(b) or is jointly owned pursuant to the joint ownership provisions of Section 9.2(d)(iii). 

 

	Section 10.	Patent Prosecution and Maintenance. 

 10.1. BIND Prosecution and Maintenance. 
 (a) BIND Background Patents,
BIND Third Party License Agreements. BIND will have the sole right to Prosecute and Maintain the BIND Background Patents (including without limitation, any such Patents Controlled by BIND pursuant to the MIT License), and Pfizer will have no
rights with respect thereto. For avoidance of doubt, and anything herein to the contrary notwithstanding, the right of either Party to prosecute Patents Controlled by BIND pursuant to a BIND Third Party License Agreement is subject to the terms and
conditions set forth in the applicable BIND Third Party License Agreement. 
 (b) Patents Covering BIND Sponsored
Design/Preclinical Collaboration Technology Other than Product Specific Patents. Except as provided in Sections 10.1(c) and 10.2(b) with respect to Product Specific Patents, BIND will have the first right, at its sole expense, to Prosecute and
Maintain any Patent (a “BIND Sponsored Design/Preclinical Collaboration Patent”) covering any BIND Sponsored Design/Preclinical Collaboration Technology. BIND shall prepare, file, prosecute and maintain any BIND Sponsored
Design/Preclinical Collaboration Patent in all Major Market Countries and in such other countries requested by Pfizer (the “Designated Countries”). BIND shall keep Pfizer advised on the status of the preparation, filing,
prosecution, and maintenance of all patent applications included within the BIND Sponsored Design/Preclinical Collaboration Patents and the maintenance of any issued patents included within the BIND Sponsored Design/Preclinical Collaboration
Patents. Further, BIND shall consult and reasonably cooperate with Pfizer with respect to the preparation, filing, prosecution and maintenance of all BIND Sponsored Design/Preclinical Collaboration Patents, including: (i) allowing Pfizer a
reasonable opportunity and reasonable time to review and comment regarding relevant communications to BIND and drafts of any responses or other proposed filings by BIND before any applicable filings are submitted to any relevant patent office or
Governmental Authority and (ii) making reasonable 

  
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efforts to address any concerns identified by Pfizer in any final filings submitted by BIND to any relevant patent office or Governmental Authority. Subject to the foregoing, in the event of any
disagreement between BIND and Pfizer, BIND will have the final decision-making authority with respect to the matter involved as long as BIND acts in good faith. 
 (c) Product Specific Patents. The provisions of this Section 10.1(c) define certain Patents covering BIND Sponsored Design/Preclinical Collaboration Technology that, notwithstanding the
general provisions of Section 10.1(b), Pfizer will have the first right to Prosecute and Maintain, as provided in Section 10.2(b). For any Patent within BIND Sponsored Design/Preclinical Collaboration Technology having a specification that
could reasonably support and enable a composition-of-matter claim, a method of manufacturing claim or a method-of-use claim in each case covering only a particular Agreement Compound or a particular Covered Product, the following will apply: to the
extent consistent with reasonable practices in the Prosecution and Maintenance of Patents generally, upon Pfizer’s reasonable written request and provided that BIND reasonably agrees with Pfizer that the following Prosecution and Maintenance
activities would not materially harm any Patents within the BIND Sponsored Design/Preclinical Collaboration Technology or BIND Background IP, BIND will file (within 45 days of such request by Pfizer) a U.S. continuation, continuation-in-part or
divisional of such Patent (and a comparable filing in any other country so requested by Pfizer) seeking issuance of such composition-of-matter, method of manufacture or method-of-use claim scope (and no other claim scope) (each a “Product
Specific Patent”). Each such Product Specific Patent will be and remain part of the “BIND Sponsored Design/Preclinical Collaboration Technology” hereunder. If and at such time as Pfizer no longer has an exclusive license to
all of the claim scope of any such Product Specific Patent, then such Product Specific Patent will no longer be treated as such hereunder (although it may remain part of the BIND Sponsored Design/Preclinical Collaboration Technology). Pfizer
acknowledges and agrees that BIND may grant substantially similar rights to other exclusive Third Party licensees under any BIND Background Technology and BIND Sponsored Design/Preclinical Collaboration Technology. 

10.2. Pfizer Prosecution and Maintenance. 
 (a) Pfizer Patents. Pfizer will have the sole right to Prosecute and Maintain the Pfizer Patents, and BIND will have no rights with respect thereto. 

(b) Product Specific Patents. Pfizer will have the first right, at its sole expense, to Prosecute and Maintain Product Specific
Patents. Pfizer will regularly provide BIND with copies of all Patent applications within the Product Specific Patents, and all other material submissions and correspondence with any Patent authorities regarding the Product Specific Patents, in
sufficient time to allow for review and comment by BIND. In addition, Pfizer will provide BIND and its counsel with an opportunity to consult with Pfizer and its counsel regarding Prosecution and Maintenance of Product Specific Patents and Pfizer
will reasonably consider any concerns or comments raised by BIND. Subject to the foregoing, in the event of any disagreement between BIND and Pfizer, Pfizer will have the final decision-making authority with respect to the matter involved as long as
Pfizer acts in good faith. Furthermore, with respect to Product Specific Patents, Pfizer shall use patent counsel (internal or outside counsel) and annuity services selected by Pfizer which are reasonably acceptable to BIND. 

  
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 (c) Joint Patents. Pfizer will have the first right, at its sole expense, to
Prosecute and Maintain Joint Patents which claim Joint Sponsored Design/Preclinical Collaboration Technology. Pfizer will regularly provide BIND with copies of all Patent applications within the Joint Patents, and, for countries where BIND so
requests, all other material submissions and correspondence with any Patent authorities regarding the Joint Patents, in sufficient time to allow for review and comment by BIND. In addition, for countries where BIND so requests, Pfizer will provide
BIND and its counsel with an opportunity to consult with Pfizer and its counsel regarding Prosecution and Maintenance of Joint Patents and Pfizer will reasonably consider any concerns or comments raised by BIND. Subject to the foregoing, in the
event of any disagreement between BIND and Pfizer, Pfizer will have the final decision-making authority with respect to the matter involved as long as Pfizer acts in good faith. Furthermore, with respect to Joint Patents, Pfizer shall use patent
counsel (internal or outside counsel) and annuity services selected by Pfizer which are reasonably acceptable to BIND. If Pfizer elects not to file a patent application included in the Joint Patents in any country or elects to cease the prosecution
or maintenance of any Joint Patent in any country, Pfizer shall provide BIND with written notice immediately, but not less than thirty (30) days before any action is required, upon the decision to not file or continue the prosecution of such
patent application or maintenance of such patent. In such event, Pfizer shall permit BIND, in BIND’s sole discretion, to file or continue prosecution or maintenance of any such Joint Patents in such country at BIND’s expense. If BIND
elects to continue such prosecution or maintenance, (A) such Patent shall no longer be a Joint Patent and (B) Pfizer shall execute such documents and perform such acts, at BIND’s expense, as may be reasonably necessary to assign to
BIND all right, title and interest in and to such Joint Patent. 
 (d) In regard to Pfizer’s Prosecution and Maintenance of
the Product Specific Patents and the Joint Patents, it is understood and agreed as follows. The patent counsel and annuity services selected by Pfizer pursuant to Section 10.2(b) or 10.2(c) may utilize any appropriate cost-saving measures in
handling filing, prosecution and maintenance of any Patent. Subject to the approval requirements of Section 10.2(b) and 10.2(c), Pfizer may use internal patent counsel, filing clerks, and paralegals employed by Pfizer for such activities,
including for coordinating worldwide filings of such Patent Rights, for prosecution before the European Patent Office, and for directly instructing U.S. outside counsel and ex-U.S. patent agents, including by providing draft applications and
responses. Subject to the approval requirements of Section 10.2(b) and 10.2(c), Pfizer may employ its preferred patent agents and/or members of the “Pfizer Legal Alliance” to conduct such activities as required for U.S. and ex-U.S.
prosecution. Pfizer shall not have any liability to BIND for any act, omission, or default or neglect of internal or outside patent counsel selected by Pfizer with respect to Prosecution and Maintenance of any Patent as long as said patent counsel
was acting in good faith in such Prosecution and Maintenance. 
 10.3. Cooperation. Each Party will reasonably cooperate
with the other Party in the Prosecution and Maintenance of the Patents for which it is responsible. Such cooperation will include promptly executing all documents, or requiring inventors, employees and consultants and agents of such Party and its
Affiliates and Sublicensees to execute all documents, as reasonable and appropriate so as to enable the Prosecution and Maintenance of any such Patents in any country. 

  
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 (a) Patent Extensions. If, with respect to any Covered Product, any election for
patent term restoration or extension, supplemental protection certificate or any of their equivalents may be made with respect to any Product Specific Patent, after consultation with BIND, Pfizer will have the sole right to decide whether or not to
take such action. If, with respect to any Covered Product, any election for patent term restoration or extension, supplemental protection certificate or any of their equivalents may be made with respect to any BIND Sponsored Design/Preclinicl
Collaboration Technology and Pfizer reasonably determines that any such action is of material importance to the Commercialization of such Covered Product, Pfizer will have the right to take such action, but only with the consent of BIND, such
consent not to be unreasonably withheld or delayed. 
 (b) Orange Book Patent Listings. With respect to any Patent
listings required for any regulatory exclusivity periods for Covered Products anywhere in the Territory, the Parties will agree on which (if any) BIND Sponsored Design/Preclinical Collaboration Technology or any BIND Background Patents to list.
Pfizer will not seek to list any Patents within the BIND Sponsored Design/Preclinical Collaboration Technology or any BIND Background Patents, without the prior written consent of BIND, except that, after consultation with BIND, Pfizer will have the
right to decide whether or not to so list any Product Specific Patent. 
  

	Section 11.	Patent Enforcement and Defense. 

 11.1. Notice. Each Party will notify the other Party in writing of any actual or suspected Competitive Infringement of any Agreement Compound Claim by a Third Party, or of any claim of invalidity,
unenforceability, or non-infringement of any Agreement Compound Claim, and will, along with such notice, supply the other Party with any evidence in its Control pertaining thereto. For purposes of this Agreement, “Competitive
Infringement” means any Development, Manufacture or Commercialization of any Targeted Nanoparticle incorporating or combined with any Pfizer Compound. 
 11.2. Enforcement and Defense. 
 (a) Competitive Infringement. As
between the Parties, Pfizer will have the sole right, but not the obligation, to seek to abate any actual or suspected Competitive Infringement of any Agreement Compound Claim by a Third Party, or to file suit against any such Third Party for such
Competitive Infringement. Pfizer will pay all of its Patent Costs incurred for such enforcement. 
 (b) Defense of Product
Specific Patents. As between the Parties, Pfizer will have the first right, but not the obligation, to defend against a declaratory judgment action or other action challenging any Product Specific Patents. If Pfizer does not take steps to defend
within a commercially reasonably time, BIND will have the right (but not the obligation) to so defend. The controlling Party will pay all its Patent Costs incurred for such defense. 

(c) Withdrawal, Cooperation and Participation. With respect to any action identified above in this Section 11.2(b):

 (i) If the controlling Party ceases to pursue or withdraws from such action, it will notify the other Party
and such other Party may substitute itself for the withdrawing Party and proceed under the terms and conditions of this Section 11.2(c). 

  
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 (ii) The non-controlling Party will cooperate with the Party controlling any
such action (as may be reasonably requested by the controlling Party), including (a) providing access to relevant documents and other evidence, (b) making its and its Affiliates and licensees (including Sublicensees) and all of their
respective employees, consultants and agents available at reasonable business hours and for reasonable periods of time, but only to the extent relevant to such action, and (c) if necessary, by being joined as a party, subject for this clause
(c) to the controlling Party agreeing to indemnify such non-controlling Party for its involvement as a named party in such action and paying those Patent Costs incurred by such Party in connection with such joinder. The Party controlling any
such action will keep the other Party updated with respect to any such action, including providing copies of all documents received or filed in connection with any such action. 

(iii) Each Party will have the right to participate or otherwise be involved in any such action controlled by the other
Party, in each case at the participating Party’s sole cost and expense. If a Party elects to so participate or be involved, the controlling Party will provide the participating Party and its counsel with an opportunity to consult with the
controlling Party and its counsel regarding the prosecution of such action (including reviewing the contents of any correspondence, legal papers or other documents related thereto), and the controlling Party will take into account reasonable
requests of the participating Party. 
 (d) Settlement. Pfizer shall not enter into any settlement of any claim described
in this Section 11.2 that admits to the invalidity, narrowing of scope or unenforceability of the Patents that are the subject of the license grants under Sections 7.1 and 7.2 or this Agreement, incurs any financial liability on the part of
BIND or requires an admission of liability, wrongdoing or fault on the part of BIND without BIND’s prior written consent. BIND shall not enter into any settlement of any claim described in this Section 11.2 that admits to the invalidity,
narrowing of scope or unenforceability of the Patents that are the subject of the license grants under Sections 7.1 and 7.2 or this Agreement in a manner or to an extent that limits the scope of rights granted to Pfizer under Section 7.1 or
Section 7.2, incurs any financial liability on the part of Pfizer or requires an admission of liability, wrongdoing or fault on the part of Pfizer without Pfizer’s prior written consent. If a Party has joined the legal action, it shall
consent to such settlement proposed by the other Party and execute any documents or take such actions necessary to effect a settlement that comports with the requirements of this Section 11.2(d). 

(e) Damages. Unless otherwise agreed by the Parties, all monies recovered upon the final judgment or settlement of any action
described in Section 11.2(c) or 11.2(a), will be used: (i) first, to reimburse each of the Parties on a pro rata basis for each of their out-of-pocket costs and expenses relating to the action; and (ii) second, [***] to the
controlling Party and [***] to the other Party. 
 (f) Liability. So long as a Party acts within the authority and
consistent with the applicable limitations (if any) imposed by this Section 11, such Party shall not incur any liability to the other Party as a consequent of any litigation or other action or inaction taken or not taken pursuant to this
Section 11, including any liability for any unfavorable decision resulting therefrom, including any decision holding any Patent invalid or unenforceable. 

  
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 11.3. Other Enforcement and Defense. Other than as provided under Sections 11.2(a),
11.2(b) and (c), BIND will have the sole right to enforce and defend the BIND Patents (including any such Patents Controlled by BIND pursuant to the MIT License), and Pfizer will have no rights with respect thereto. Pfizer will have the sole right
to enforce and defend the Pfizer Patents, and BIND will have no rights with respect thereto. For avoidance of doubt, and anything herein to the contrary notwithstanding, the right of either Party to enforce and defend Patents Controlled by BIND
pursuant to a BIND Third Party License Agreement is subject to the terms and conditions set forth in the applicable BIND Third Party License Agreement. 
  

	Section 12.	Confidential Information and Publicity. 

 12.1. Confidentiality. 
 (a) Confidential Information. Except as
expressly provided herein, each of the Parties agrees that, for itself and its Affiliates, and until the later to occur of (i) the tenth anniversary of the Effective Date and (ii) the fifth anniversary of the termination or expiration of
this Agreement, a Party and its Affiliates (the “Receiving Party”) receiving Confidential Information of the other Party or its Affiliates (the “Disclosing Party”) will (i) not disclose such Confidential
Information to any Third Party without the prior written consent of the Disclosing Party, except for disclosures expressly permitted below, and (ii) not use such Confidential Information for any purpose except those (sub)licensed or otherwise
authorized or permitted by this Agreement; provided that such restrictions on disclosure and use will remain in full force and effect for any Confidential Information of the Parties that consists of a trade secret (as such term is defined under 18
U.S.C. §1839) until such time as such Confidential Information either no longer constitutes a trade secret (as defined under 18 U.S.C. §1839) or one of the exceptions described in Section 12.1(b) applies to such Confidential
Information. For purposes of this Agreement, “Confidential Information” means (1) all Materials and (2) all Know-How and information of any kind, whether in written, oral, graphical, machine-readable or other form, whether
or not marked as confidential or proprietary, which are transferred or disclosed by Disclosing Party to the Receiving Party, including any of the foregoing of Third Parties. Without limiting the foregoing, BIND Background Technology, Accurin
Improvement Technology, BIND Regulatory Data will be considered Confidential Information of BIND, and Pfizer Compounds, Pfizer Background Technology, Pfizer Sponsored Design/Preclinical Collaboration Technology, Pfizer Compound Improvement
Technology and Pfizer Regulatory 
  
  

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portions. 

  
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Data will be considered Confidential Information of Pfizer. Jointly Owned IP will be considered the Confidential Information of both Parties, provided that each Party will have the right to
freely disclose Jointly Owned IP. 
 (b) Exceptions. The obligations in Section 12.1(a) will not apply with respect
to any portion of the Confidential Information that the Receiving Party can show by competent proof: 
 (i) is
publicly disclosed by the Disclosing Party, either before or after it is disclosed to the Receiving Party hereunder; 
 (ii) was known to the Receiving Party or its Affiliates, without any obligation to keep it confidential or any restriction on its use, prior to disclosure by the Disclosing Party; 

(iii) is subsequently disclosed to the Receiving Party or its Affiliates by a Third Party lawfully in possession thereof
and without any obligation to keep it confidential or any restriction on its use; 
 (iv) is published by a Third
Party or otherwise becomes publicly available or enters the public domain, either before or after it is disclosed to the Receiving Party; or 
 (v) has been independently discovered or developed by employees or contractors of the Receiving Party or its Affiliates without the aid, application or use of Confidential Information of the Disclosing
Party. 
 (c) Authorized Disclosures. The Receiving Party may disclose Confidential Information belonging to the
Disclosing Party to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 
 (i) subject to Section 12.2, by either Party in order to comply with applicable non-patent law (including any securities law or regulation or the rules of a securities exchange) and with judicial
process, if in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance; 
 (ii) by either Party, in connection with prosecuting or defending litigation as permitted by this Agreement, making regulatory filings, and filing, prosecuting, maintain, defending and enforcing Patents
as permitted by this Agreement; 
 (iii) by Pfizer, with respect to all BIND Confidential Information, to its
Affiliates, potential or actual permitted Sublicensees, potential or actual permitted acquirers or assignees under Section 15.1, permitted subcontractors, and each of Pfizer and its Affiliates’ respective directors, employees, contractors
and agents; and 
 (iv) by BIND, (A) with respect to all Pfizer Confidential Information, to its Affiliates,
potential or actual permitted acquirers or assignees under Section 15.1, permitted subcontractors, and each of BIND and its Affiliates’ respective directors, 

  
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employees, contractors and agents; (B) with respect to the terms of this Agreement, to its investment bankers, investors, and lenders; and (C) with respect to AccurinTM Class
Specific Data, to its collaborators and other (sub)licensees, 
 provided that (1) with respect to Section 12.1(c)(i) or (ii), where
reasonably possible, the Receiving Party will notify the Disclosing Party of the Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure so as to allow the Disclosing Party adequate time to
take whatever action it may deem appropriate to protect the confidentiality of the information to be disclosed, and (2) with respect to Sections 12.1(c)(iii) and (iii), each of those named people and entities must be bound prior to disclosure
by confidentiality and non-use restrictions at least as restrictive as those contained in this Section (other than investment bankers, investors and lenders, who must be bound prior to disclosure by commercially reasonable obligations of
confidentiality). 
 12.2. Terms of this Agreement; Publicity. 

(a) The Parties agree that the terms of this Agreement will be treated as Confidential Information of both Parties, and thus may be
disclosed only as permitted by Section 12.1(c). Each Party agrees not to issue any press release or public statement disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof without the prior
written consent of the other Party (or as such consent may be obtained in accordance with Section 12.2(b)), which consent will not be unreasonably withheld, or as permitted by Section 12.1(c). 

(b) In the event either Party (the “Issuing Party”) desires to issue a press release or other public statement
disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof, the Issuing Party will provide the other Party (the “Reviewing Party”) with a copy of the proposed press release or
public statement (the “Release”). The Reviewing Party will have ten (10) business days to provide any comments on such Release, and if the Receiving Party fails to provide any comments during such ten-day period, the Reviewing
Party will be deemed to have consented to the issuance of such Release. If the Receiving Party provides any comments, the Parties will consult on such Release and work in good faith to prepare a mutually acceptable Release. Either Party may
subsequently publicly disclose any information previously contained in any Release so consented to (so long as such information remains accurate). 
 (c) The Parties agree that BIND will issue the press release set forth on Exhibit 12.2(c) promptly following the Effective Date. 
 12.3. Publication. Notwithstanding anything herein to the contrary, either Party may propose publication of the results of the Design/Preclinical Collaboration Project under this Agreement upon
three (3) months’ notice prior to submission. Additionally, Pfizer shall have the sole right to make publications with respect to the further Development or Commercialization of Agreement Compounds and Covered Products. Both Parties
understand that a reasonable commercial strategy may require delay of publication of information or filing of Patent applications, therefore the Parties agree to review and consider delay of publication and filing of patent applications under
certain circumstances. Once publications have been reviewed by each 

  
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Party and have been approved for publication, the same publications do not have to be provided again to the other Party for review for a later submission for publication. Expedited reviews for
abstracts or poster presentations may be arranged if mutually agreeable to the Parties. Each Party also will have the right to require that its Confidential Information that would be disclosed in any such proposed publication be deleted prior to
such publication. Each Party will acknowledge the other Party’s contributions in any such publication unless otherwise instructed. 
 12.4. Relationship to the Confidentiality Agreement. This Agreement supersedes the Confidentiality Agreement, provided that all “Confidential Information” disclosed or received by
the Parties thereunder will be deemed “Confidential Information” hereunder and will be subject to the terms and conditions of this Agreement. 
 12.5. Disclosure of Certain Data. Notwithstanding anything herein to the contrary, BIND shall be entitled to present or publish data and results relating to Candidate Compounds without the prior
approval of Pfizer; provided that such disclosure (i) does not reveal the identity or structure of the specific Candidate Compound, (ii) does not disclose any of Pfizer’s Confidential Information in any such presentation or
publication without obtaining Pfizer’s prior written consent to do so, (iii) does not impair Pfizer’s ability to seek patent protection for such Candidate Compound or an Agreement Compound and (iv) does not disclose that such
results were obtained as part of a collaboration with Pfizer. 
  

	Section 13.	Warranties; Limitations of Liability; Indemnification. 

 13.1. BIND Representations and Warranties. BIND represents and warrants to Pfizer that as of the Effective Date and as of the date(s) that Pfizer exercises its option pursuant to Section 4.1:

 (a) BIND is a corporation duly organized, validly existing and in good standing under the laws of the state or jurisdiction
in which it is incorporated, and it has full right and authority to enter into this Agreement and to grant the (sub)licenses and other rights to Pfizer and perform its obligations as herein described. 

(b) The execution, delivery and performance of this Agreement has been duly authorized by all requisite corporate action, and when
executed and delivered will become a legal, valid and binding contract of BIND enforceable against BIND in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and other laws affecting creditors’ rights
generally from time to time if effect, and to general principles of equity. 
 (c) The execution, delivery and performance of
this Agreement and BIND’s compliance with the terms and provisions hereof does not and will not conflict with or result in a breach of or default under any other agreement, contract, instrument or understanding, oral or written, to which BIND
is a party, or by which it is bound, as of the Effective Date nor will it violate any law applicable to BIND. 
 (d) All
necessary consents and approvals of all regulatory and governmental authorities and other persons or entities required to be obtained by BIND in connection with the execution and delivery of this Agreement and the performance of its obligations
hereunder have been obtained. 

  
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 (e) The BIND Third Party License Agreements remain in full force and effect and BIND is in
compliance in all material respects with the terms of each of the BIND Third Party License Agreements, and all necessary consents, approvals, and authorizations under the BIND Third Party License Agreements required to be obtained by the other party
thereto in order to enter into this Agreement have been obtained. 
 (f) With the exception of the BIND Third Party License
Agreements, neither BIND nor its Affiliates are party to or otherwise subject to any agreement or arrangement which limits the ownership or licensed rights of Pfizer or its Affiliates with respect to, or limits the ability of Pfizer or its
Affiliates to grant a license, sublicense or access, or provide or provide access or other rights in, to or under, any intellectual property right or material (including any BIND Background Technology or other data or information), in each case,
that would, but for such agreement or arrangement, be included in the rights licensed or assigned to Pfizer or its Affiliates pursuant to this Agreement. 
 (g) Exhibit 1.6 sets forth a true and complete list of the BIND Background Patents. Each BIND Background Patent, to the extent that it is an issued Patent, remains in full force and effect, and BIND or
its Affiliates have timely paid all filing and renewal fees payable with respect to such Patent Rights. 
 (h) Other than under
the BIND Third Party License Agreements, none of the BIND Background Patents are in-licensed from a Third Party and BIND has obtained from all inventors of BIND Background Technology existing as of the Effective Date valid and enforceable agreements
assigning to BIND each such inventor’s entire right, title and interest in and to all such BIND Background Technology. 

(i) Other than under the BIND Third Party License Agreements, BIND has independently developed all BIND Background Know-How or otherwise
has a valid right to use, and to permit Pfizer’s Affiliates and Pfizer’s Sublicensees to use, the BIND Background Know-How for all permitted purposes under this Agreement. 

(j) BIND or its Affiliates have and will have the full legal or beneficial title, or license or similar rights, to the BIND Background
Technology as is necessary to grant the licenses to Pfizer, Pfizer’s Affiliates or Pfizer’s Sublicensees to such the BIND Background Technology that BIND purports to grant pursuant to this Agreement. 

(k) The Patents included in the BIND Background Patents are not subject to any claims, liens, charges or encumbrances (except as may be
the case pursuant to the Hercules Agreement, as defined below), and BIND has not granted to any Third Party any rights or licenses under such BIND Background Patents or BIND Background Know-How that would conflict with the licenses and other rights
granted to Pfizer hereunder. BIND is party to a Loan and Security Agreement with Hercules Technology III, L.P. dated as of January 10, 2011 (as in effect as of the Effective Date, the “Hercules Agreement”) pursuant to which BIND
granted Hercules a security interest in certain assets of BIND as set forth in the Hercules Agreement. BIND has provided to Pfizer a true and complete copy of both (x) the Hercules Agreement and (y) a Second Consent To License Agreement of
even date herewith (the “Hercules Consent”) executed by Hercules pursuant to which Hercules consented to the execution and delivery of this Agreement. As a result of the Consent, none of the rights granted to Hercules conflict with the
licenses and other rights granted to Pfizer hereunder. 

  
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 (l) To BIND’s Knowledge, the BIND Background Patents are, or upon issuance will be,
valid and enforceable patents, and, as of the Effective Date, no Third Party (i) is infringing any BIND Background Patent, or (ii) has challenged or threatened to challenge the scope, validity or enforceability of any BIND Background
Patent (including, by way of example, through the institution or written threat of institution of interference, nullity or similar invalidity proceedings before the United States Patent and Trademark Office or any analogous foreign Governmental
Authority). 
 (m) BIND has complied with all applicable laws, including any disclosure requirements, in connection with the
filing, prosecution and maintenance of the BIND Background Patents. 
 (n) No Third Party has made any claim or allegation to
BIND or its Affiliates in writing that a Third Party has any right or interest in or to the BIND Background Technology. 
 (o)
BIND has no knowledge of any claim or litigation that has been brought or threatened in writing by any Third Party alleging that the BIND Background Patents are invalid or unenforceable. 

(p) To BIND’s Knowledge, the use, Development, Manufacture and Commercialization of Agreement Compounds or Covered Products
(excluding Pfizer Compounds) using BIND Background Technology as contemplated by this Agreement does not and will not violate, infringe or misappropriate any intellectual property or proprietary right of any Third Party, based solely on such use of
BIND Background Technology. 
 (q) There is no (i) claim, demand, suit, proceeding, arbitration, inquiry, investigation or
other legal action of any nature, civil, criminal, regulatory or otherwise, pending or, to the best knowledge of BIND, threatened against BIND or any of its Affiliates or (ii) judgment or settlement against or owed by BIND or any of its
Affiliates, in each case in connection with the BIND Background Technology relating to the transactions contemplated by this Agreement. 
 (r) BIND has not provided any Third Party with any right, or any ability to obtain any right, with respect to any BIND Background Patent that would in any way limit BIND’s ability to enforce such
BIND Background Patent against any Competitive Infringement of such BIND Background Patent or to defend such BIND Background Patent against any action seeking to limit BIND’s ability to enforce any such BIND Background Patent against any
Competitive Infringement, except as and to the extent provided under the BIND Third Party License Agreements with respect to the Patents that are subject to such agreements. 

  
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 For purposes of this Section 13.1, “BIND’s Knowledge” means the actual knowledge
of [***], or any of their respective successors, without the need for investigation or inquiry. 
 13.2. BIND Covenants.
BIND hereby covenants to Pfizer that, from the Effective Date until expiration or termination of this Agreement: 
 (a) BIND
will perform its obligations under this Agreement in compliance with applicable laws. 
 (b) BIND will not, and will cause its
Affiliates not to (i) license, sell, assign or otherwise transfer to any person (other than Pfizer or its Affiliates or Sublicensees pursuant to the terms of this Agreement) any Bind Background Technology, Sponsored Design/Preclinical
Technology or Joint IP(or agree to do any of the foregoing) or (ii) incur or permit to exist, with respect to any Bind Background Technology, Sponsored Design/Preclinical Technology or Joint IP, any lien, encumbrance, charge, security interest,
mortgage, liability, assignment, grant of license or other Binding Obligation that, in the case of (i) or (ii) is or would be inconsistent with the licenses and other rights granted to Pfizer or its Affiliates under this Agreement.

 (c) BIND will not (a) take any action that diminishes the rights under the Bind Background Technology, Sponsored
Design/Preclinical Technology or Joint IP granted to Pfizer or Pfizer’s Affiliates under this Agreement or (b) fail to take any action that is reasonably necessary to avoid diminishing the rights under the Bind Background Technology,
Sponsored Design/Preclinical Technology or Joint IP granted to Pfizer or Pfizer’s Affiliates under this Agreement. 
 (d)
BIND will (i) not enter into any Third Party agreement that adversely affects (A) the rights granted to Pfizer, Pfizer’s Affiliates or Sublicensees hereunder or (B) BIND’s ability to fully perform its obligations hereunder;
(ii) not amend or otherwise modify any BIND Third Party License Agreement or consent or waive rights with respect thereto in any manner that (A) adversely affects any rights granted to Pfizer or Pfizer’s Affiliates or Sublicensees
hereunder, (B) affects BIND’s ability to fully perform its obligations hereunder or (C) increase any obligation of Pfizer or Pfizer’s Affiliates or Sublicensees hereunder; (iii) promptly furnish Pfizer with true and complete
copies of all amendments to the BIND Third Party License Agreements; (iv) remain, and cause its Affiliates to remain, in compliance in all material respects with all BIND Third Party License Agreements; and (v) furnish Pfizer with copies
of all notices received by BIND or its Affiliates relating to any alleged breach or default by BIND or its Affiliates under any BIND Third Party License Agreement within five (5) business days after receipt thereof. 

(e) BIND will not enter into or otherwise allow itself or its Affiliates to be subject to any agreement or arrangement which limits the
ownership or licensed rights of Pfizer or its Affiliates with respect to, or limits the ability of Pfizer or its Affiliates to grant a license, sublicense or access, or provide or provide access or other rights in, to or under, any intellectual

  
  

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portions. 

  
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property right or material (including any Patent Right, Know-How or other data or information), in each case, that are included in the BIND Background Technology as of the Effective Date or that
would, but for such agreement or arrangement, be included in the Sponsored Design/Preclinical Collaboration Technology pursuant to this Agreement. 
 (f) BIND will maintain valid and enforceable agreements with all persons acting by or on behalf of BIND or its Affiliates under this Agreement which require such persons to assign to BIND their entire
right, title and interest in and to all Bind Background Technology, Sponsored Design/Preclinical Technology or Joint IP. 
 (g)
BIND shall retain the right: (i) to enforce all BIND Background Patents other than Third Party Collaboration Patents against any Competitive Infringement of such BIND Background Patent (such right is an “Enforcement Right”) and
(ii) to defend such BIND Background Patent against any action seeking to limit BIND’s ability to enforce any such BIND Background Patent against any Competitive Infringement (such right is a “Defense Right”), as and to the same
extent BIND possesses such Enforcement Right and Defense Right: (a) as of the Effective Date, as such rights pertain to BIND Background Patents that are Controlled by BIND as of the Effective Date and (b) as of the date BIND first Controls
any Patents that are first included in the BIND Background Patents after the Effective Date; provided, that, anything herein to the contrary notwithstanding: (1) if BIND has the first Enforcement Right or first Defense Right with respect to any
BIND Background Patent, BIND may agree to modify such Enforcement Right or Defense Right with respect to such BIND Background Patent provided that BIND retains an exercisable back-up Enforcement Right or Defense Right with respect to such BIND
Background Patent and such agreement shall not constitute a breach of this Section 13.2(g), (2) this Section 13.2(g) shall not apply to any BIND Background Patent that does not claim a Covered Product upon the expiration of the Option
Period and (3) this Section 13.2(g) shall expire, and shall be of no force or effect if and when Patent(s) claiming the composition of matter of each Covered Product issue in any Major Market Country or after a Change of Control of BIND.
For avoidance of doubt, nothing herein shall require BIND to exercise its Enforcement Right or Defense Right other than as it may determine in its sole discretion. “Third Party Collaboration Patent” means any Patent covering any invention,
development or discovery made, conceived or created pursuant to a collaboration or similar arrangement between BIND and any Third Party (whether such invention, development or discovery is made, conceived or created by or on behalf of BIND or any of
its Affiliates, by or on behalf of such Third Party or any of its Affiliates or jointly by BIND and such Third Party or their respective Affiliates (in each case, optionally with any (sub)licensees, subcontractors or any other Third Parties or any
employees, consultants or agents of any of the foregoing)). 
 13.3. Pfizer Representations and Warranties. Pfizer
represents and warrants to BIND that as of the Effective Date: 
 (a) Pfizer is a corporation duly organized, validly existing
and in good standing under the laws of the state in which it is incorporated, and it has full right and authority to enter into this Agreement and to accept the rights and (sub)licenses granted herein and to perform its obligations hereunder.

  
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 (b) The execution, delivery and performance of this Agreement has been duly authorized by
all requisite corporate action, and when executed and delivered will become a legal, valid and binding contract of Pfizer enforceable against Pfizer in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization and other
laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 
 (c) The
execution, delivery and performance of this Agreement and Pfizer’s compliance with the terms and provisions hereof does not and will not conflict with or result in a breach of or default under any other agreement, contract, instrument or
understanding, oral or written, to which Pfizer is a party, or by which it is bound, as of the Effective Date nor will it violate any law applicable to Pfizer. 
 (d) All necessary consents and approvals of all regulatory and governmental authorities and other persons or entities required to be obtained by Pfizer in connection with the execution and delivery of
this Agreement and the performance of its obligations hereunder have been obtained. 
 (e) Pfizer or its Affiliates have full
legal or beneficial title, or license or similar rights, to the Pfizer Background Technology as is necessary to grant the licenses to BIND to such the Pfizer Background Technology that Pfizer purports to grant pursuant to this Agreement. 

13.4. Disclaimers. 
 (a) EXCEPT AS EXPRESSLY SET FORTH HEREIN, NEITHER BIND NOR PFIZER MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF VALIDITY OR ENFORCEABILITY OF ANY PATENT RIGHTS, TITLE,
QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, PERFORMANCE, AND NONINFRINGEMENT OF ANY THIRD PARTY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS. 
 (b) Pfizer acknowledges that JHU has not warranted to BIND under the JHU Licensed Agreement as to the validity of any patents or that practice under such patents shall be free of infringement. PFIZER, ITS
AFFILIATES AND ITS SUBLICENSEE(S) AGREE THAT THE JHU PATENTS WERE PROVIDED TO BIND “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE JHU PATENTS OR ANY OTHER INTELLECTUAL PROPERTY RIGHTS OR THE
PERFORMANCE OF COVERED PRODUCT(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY. JHU DISCLAIMED ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICE(S) LICENSED UNDER THE JHU LICENSE AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL
WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. JHU ADDITIONALLY DISCLAIMED ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS FOR DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT,
SPECIAL, AND CONSEQUENTIAL DAMAGES, ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN

  
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CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S) AND SERVICE(S) LICENSED UNDER THE JHU LICENSE AGREEMENT, EXCEPT TO THE EXTENT THAT SUCH OBLIGATIONS, LIABILITIES AND DAMAGES ARISE
OUT OF JHU’S EXERCISE OF ITS RETAINED RIGHTS UNDER SECTION 7.8(b) OF THIS AGREEMENT. PFIZER, ITS AFFILIATES AND ITS SUBLICENSEE(S) ACKNOWLEDGE THAT JHU WILL HAVE NO RESPONSIBILITY OR LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT AND/OR
SERVICE MANUFACTURED, USED, OR SOLD BY PFIZER, ITS AFFILIATES AND ITS SUBLICENSEE(S) WHICH IS A COVERED PRODUCT. Nothing contained in the foregoing shall in any way limit BIND’s obligations or liabilities to Pfizer under this Agreement, and
JHU’s disclaimer of warranty does not limit the representations or warranties made by BIND under this Agreement. 
 (c)
M.I.T., BRIGHAM, CMCC AND GIST MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND CONCERNING THE MIT PATENTS, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, VALIDITY
OF PATENT RIGHTS CLAIMS, WHETHER ISSUED OR PENDING, AND THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE. Specifically, and not to limit the foregoing, M.I.T., BRIGHAM, CMCC and GIST make no warranty or representation
(i) regarding the validity or scope of the MIT PATENTS, and (ii) that the exploitation of the MIT PATENTS or any product or process will not infringe any patents or other intellectual property rights of M.I.T., BRIGHAM, CMCC or GIST or of
a third party. 
 13.5. Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER PARTY
NOR ITS REPRESENTATIVES WILL BE LIABLE TO THE OTHER OR ANY THIRD PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, INCIDENTAL, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN INFORMED OR SHOULD HAVE
KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED, HOWEVER, THAT THIS SECTION 13.5 WILL NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER SECTIONS 13.7(a), 13.7(b) and 13.7(c). Without limiting the generality of the
foregoing, “consequential damages” will be deemed to include, and neither Party will be liable to the other Party or any of such other Party’s representatives or stockholders for any damages based on or measured by loss of
projected or speculative future sales of the Products, any Development Payment due upon any unachieved Development Milestone Event under Section 8.3, any unachieved Supplemental NDA Milestone Event under Section 8.4, any unachieved
Regulatory Approval Milestone Event under Section 8.5, any unachieved First Commercial Sale Milestone Event under Section 8.6, any Sales Milestone Payment due upon any unachieved Annual Net Sales level under Section 8.7, any unearned
royalties under Section 8.8 or any other unearned, speculative or otherwise contingent payments provided for in this Agreement. 
 13.6. Performance by Others. The Parties recognize that each Party may perform some or all of its obligations or exercise some or all of its rights under this Agreement through Affiliates and
permitted subcontractors; provided, however, that each Party will remain responsible and liable for the performance by its Affiliates and permitted subcontractors and will cause its Affiliates and permitted subcontractors to comply with the
provisions of this Agreement in connection therewith. 

  
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 13.7. Indemnification; Insurance. 

(a) Pfizer Indemnity. Pfizer hereby agrees to indemnify, defend and hold harmless BIND and its Affiliates, MIT, Brigham, CMCC,
GIST and all of their respective trustees, officers, faculty, students, employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“BIND Indemnitees”) from and against any
liability, damage, loss, cost or expense (including reasonable attorney’s fees and expenses) (collectively, “Losses”) incurred by or imposed upon any of the BIND Indemnitees arising from any Third Party claims, suits, actions,
demands or judgments arising out of any theory of liability (including actions in the form of tort, warranty, or strict liability and regardless of whether such action has any factual basis) that the BIND Indemnitee may be required to pay to one or
more Third Parties resulting from or arising out of: 
 (i) the research, Development, Manufacture, or
Commercialization or use of any Agreement Compounds or Covered Products by Pfizer or any of its Affiliates or Sublicensees, or the exercise of any (sub)license or other right granted to Pfizer under this Agreement, other than (A) claims by
Third Parties relating to patent infringement arising out of the exercise of rights under the BIND Background Patents, (B) claims by Third Parties relating to misappropriation of trade secrets arising out of the exercise of rights under the
BIND Background Know-How, or (C) claims for which BIND is required to indemnify Pfizer pursuant to Section 13.7(d); or 
 (ii) the material breach by Pfizer of any material term of this Agreement or the representations, warranties or covenants made hereunder by Pfizer; 

except, in each case (that is, in the case of the foregoing clauses (i) and (ii), to the extent caused by the negligence, gross negligence or
willful misconduct of BIND or any BIND Indemnitee. 
 (b) Pfizer Indemnity to JHU. Pfizer, its Affiliates and
Sublicensees shall indemnify, defend with counsel reasonably acceptable to JHU, and hold JHU, The Johns Hopkins Health Systems, their present and former trustees, officers, Inventors of JHU Patents, agents, faculty, employees and students harmless
as against any judgments, fees, expenses, or other costs arising from or incidental to any product liability or other lawsuit, claim, demand or other action brought by a third party as a consequence of the practice of Agreement Compounds or Covered
Products by any of the foregoing indemnifying entities, whether or not JHU or said Inventors, either jointly or severally, is named as a party defendant in any such lawsuit and whether or not JHU or the Inventors are alleged to be negligent or
otherwise responsible for any injuries to persons or property. Pfizer shall be responsible for the actions of any third party acting on behalf of or for the account of Pfizer or by a third party who purchases Covered Products from Pfizer. The
obligation of Pfizer to defend and indemnify as set out in this Section 13.7(b) shall survive the termination of this Agreement, shall continue even after assignment of rights and responsibilities to an Affiliate or Sublicensee, and shall not
be limited by any other limitation of liability elsewhere in this Agreement. 

  
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 (c) MIT Indemnity. Pfizer shall indemnify, defend, and hold harmless M.I.T., BRIGHAM,
CMCC and GIST and their respective trustees, officers, faculty, students, employees, and agents and their respective successors, heirs and assigns (the “MIT Indemnitees”), against any liability, damage, loss, or expense (including
reasonable attorney’s fees and expenses) (for purposes of this Section 13.7(c) only, collectively, “Losses”) incurred by or imposed upon any of the MIT Indemnitees in connection with any claims, suits, actions, demands or
judgments arising out of any theory of liability (including without limitation actions in the form of tort, warranty, or strict liability and regardless of whether such action has any factual basis) concerning any product, process, or service that
is made, used, sold, imported, or performed pursuant to any right or license granted under this Agreement; provided, however, that Pfizer shall have no obligation pursuant to the foregoing with respect to any Losses to the extent that they directly
result from the gross negligence or willful misconduct of any MIT Indemnitee. Pfizer agrees, at its own expense, to provide attorneys reasonably acceptable to M.I.T. to defend against any such claim. The MIT Indemnitees shall cooperate fully with
Pfizer in such defense and will permit Pfizer to conduct and control such defense and the disposition of such claim, suit, or action (including all decisions relative to litigation, appeal, and settlement); provided, however, that any MIT Indemnitee
shall have the right to retain its own counsel, at the expense of Pfizer, if representation of such MIT Indemnitee by the counsel retained by Pfizer would be inappropriate because of actual or potential differences in the interests of such MIT
Indemnitee and any other party represented by such counsel. 
 (d) BIND Indemnity. BIND hereby agrees to indemnify and
hold Pfizer, its Affiliates and Sublicensees, and their respective officers, employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“Pfizer Indemnitees”) harmless from
and against all Losses incurred by or imposed upon any of the Pfizer Indemnitees arising from any Third Party claims, suits, actions, demands or judgments arising out of any theory of liability (including actions in the form of tort, warranty, or
strict liability and regardless of whether such action has any factual basis) due to (i) the research, Development or Manufacture of any Agreement Compounds or Covered Products by BIND or any of its Affiliates or sublicensees, (ii) the
material breach by BIND of any material term of this Agreement or the representations, warranties or covenants made hereunder by BIND, except, in each case (that is, in the case of the foregoing clauses (i) and (ii)), to the extent caused by
the negligence, gross negligence or willful misconduct of Pfizer or any Pfizer Indemnitee. 
 (e) Indemnification
Procedure. 
 (i) Notice. A claim to which indemnification applies under Section 13.7(a),
Section 13.7(b) or Section 13.7(c) will be referred to herein as a “Claim”. If any person or entity (each, an “Indemnitee”) intends to claim indemnification under this Section 13.7, the Indemnitee
will notify the other Party (the “Indemnitor”) in writing promptly upon becoming aware of any claim that may be a Claim (it being understood and agreed, however, that the failure by an Indemnitee to give such notice will not relieve
the Indemnitor of its indemnification obligation under this Agreement except and only to the extent that the Indemnitor is actually prejudiced as a result of such failure to give notice). The Indemnitor will have the right to assume and control the
defense of such Claim at its own cost and expense with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee; provided, however, that an Indemnitee will have 

  
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the right to retain its own counsel, with the fees, costs and expenses to be paid by the Indemnitee, if representation of such Indemnitee by the counsel retained by the Indemnitor would be
inappropriate due to actual or potential differing interests between such Indemnitee and any other party represented by such counsel in such proceedings. If the Indemnitor does not assume the defense of such Claim as aforesaid, the Indemnitee may
defend such Claim but will have no obligation to do so. 
 (ii) Control. The Indemnitor will have the
right, exercisable by notice to the Indemnitee within ten business days after receipt of notice from the Indemnitee of the commencement or assertion of any Third Party Claim, to assume direction and control the defense, litigation, settlement,
appeal or other disposition of such Claim (including the right to settle the claim for monetary consideration) at its own cost and expense with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee; provided that
(A) the Indemnitor has sufficient financial resources to satisfy the amount of any adverse monetary judgment that is sought, (B) the Third Party Claim seeks solely monetary damages and, (C) the Indemnitor expressly agrees in writing
that as between the Indemnitor and the Indemnitee, the Indemnitor shall be solely obligated to satisfy and discharge the Third Party Claim in full (the conditions set forth in clauses (A), (B) and (C) above are collectively referred to as
the “Litigation Conditions”). Within ten business days after the Indemnitor has given notice to the Indemnitee of its exercise of its right to defend a Third Party Claim, the Indemnitee shall give notice to the Indemnitor of any objection
thereto based upon the Litigation Conditions. If the Indemnitee reasonably so objects, the Indemnitee shall continue to defend the Third Party Claim, at the expense of the Indemnitor, until such time as such objection is withdrawn. If no such notice
is given, or if any such objection is withdrawn, the Indemnitor shall be entitled, at its sole cost and expense, to assume direction and control of such defense, with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee.
During such time as the Indemnitor is controlling the defense of such Third Party Claim, the Indemnitee shall cooperate, and shall cause its Affiliates and agents to cooperate upon request of the Indemnitor, in the defense or prosecution of the
Third Party Claim, including by furnishing such records, information and testimony and attending such conferences, discovery proceedings, hearings, trials or appeals as may reasonably be requested by the Indemnitor. If the Indemnitor does not
satisfy the Litigation Conditions or does not notify the Indemnitee of its intent to assume the defense of such Claim within ten business days after notice thereof, the Indemnitee may, but will have no obligation to, defend such Claim with counsel
of its choice and at the Indemnitor’s expense (including reasonable, out-of-pocket attorneys’ fees and costs and expenses of enforcement or defense). The Indemnitor or Indemnitee, as the case may be, shall have the right to join in
(including the right to conduct discovery, interview and examine witnesses and participate in all settlement conferences), but not control, at its own expense, the defense of any Third Party Claim that the other party is defending as provided in
this Agreement. 
 (iii) Settlement. The Indemnitee will not settle or compromise any Claim without the
prior written consent of the Indemnitor. The Indemnitor shall not settle any such claim without the prior written consent of the Indemnitee if such settlement does not include a complete release from liability or if such settlement would involve
undertaking an obligation (including the payment of money by the Indemnitee), 

  
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would bind or impair the Indemnitee, or includes any admission of wrongdoing or that any intellectual property or proprietary right of the Indemnitee or this Agreement is invalid, narrowed in
scope or unenforceable. The Indemnitee will reasonably cooperate with the Indemnitor at the Indemnitor’s sole cost and expense and will make available to the Indemnitor all pertinent information under the Indemnitee’s control, which
information will be subject to Section 12.1. 
 (f) Insurance. The Parties agree to request a waiver from MIT or
JHU, as applicable, of the following insurance requirements and to delete or amend this Section 13.7(e) as permitted by such waiver when and if such waiver is obtained. 

(i) Before the first human use of a Covered Product in the Field, Pfizer will obtain and carry in full force and effect
commercial general liability insurance, including product liability and errors and omissions insurance which will protect Pfizer and BIND lndemnitees with respect to events covered by Section 13.7(a). Such insurance (i) will be issued by
an insurer licensed to practice in the Commonwealth of Massachusetts or an insurer pre-approved by MIT, such approval not to be unreasonably withheld, (ii) will list BIND, MIT, Brigham, CMCC and GIST as additional insureds thereunder,
(iii) will be endorsed to include product liability coverage, and (iv) will require thirty (30) days written notice to be given to BIND prior to any cancellation or material change thereof. The limits of such insurance will not be
less than [***] per occurrence with an aggregate of [***] for bodily injury including death; [***] per occurrence with an aggregate of [***] for property damage; and [***] per occurrence with an aggregate of [***] for errors and omissions. In the
alternative, Pfizer may self-insure subject to prior approval of MIT and its Risk Management Foundation. Pfizer will provide BIND with Certificates of Insurance evidencing compliance with this Section. Pfizer will continue to maintain such insurance
or self-insurance during any period in which Pfizer or any Affiliate or Sublicensee continues to make, use, or sell a product that is or was a Covered Product under this Agreement, and thereafter for a period of five (5) years. If there is a
cancellation or material change in insurance, and Pfizer does not obtain replacement insurance providing comparable coverage prior to the expiration of the thirty (30) day notice period described above, BIND will have the right to terminate
this Agreement effective at the end of such thirty (30) day period without notice or any additional waiting periods. For clarity, this termination clause applies to any material changes in the following terms: (i) Commercial general
liability insurance in amounts not less than [***] per incident and [***] annual aggregate; (ii) the naming of indemnitees as additional insureds; and (iii) product liability coverage and broad form contractual liability coverage for the
company’s indemnification under Section 13.7(a). 
 (ii) Prior to initial human testing or first
commercial sale of any Covered Products as the case may be in any particular country, Pfizer shall establish and maintain for a reasonable time period thereafter, in each country in which Pfizer, an 

 
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
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Affiliate or Sublicensee shall test or sell Covered Products product liability or other appropriate insurance coverage in the minimum amount of [***] per claim and will annually present evidence
to JHU that such coverage is being maintained. Upon JHU’s request, Pfizer will furnish JHU with a Certificate of Insurance of each product liability insurance policy obtained. JHU shall be listed as an additional insured in Pfizer’s said
insurance policies. If such Product Liability insurance is underwritten on a ‘claims made’ basis, Pfizer agrees that any change in underwriters during the Term of this Agreement will require the purchase of ‘prior acts’ coverage
to ensure that coverage will be continuous throughout the Term of this Agreement. 
  

	Section 14.	Term, Termination and Survival. 

 14.1. Term. This Agreement will commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual written consent, will continue on a
country-by-country and Covered Product-by-Covered Product basis until the end of the period during which royalties are due hereunder on Net Sales of such Covered Product in such country (the longest such period of time for any Covered Products
hereunder, the “Term”). Upon the expiration (but not earlier termination) of the Term for a Covered Product in a country, the (sub)license grants contained in Section 7.1(b) will become perpetual, irrevocable and fully paid up
with respect to such Covered Product in such country. Notwithstanding anything herein to the contrary, if Pfizer fails to deliver to BIND an Option Notice before the end of the Pfizer Option Period or fails to pay the Option Fee timely as required
under Section 8.2, this Agreement will terminate automatically, effective as of the end of the Pfizer Option Period or the defaulted payment date, respectively. 
 14.2. Termination Rights. 
 (a) Material Breach. Either Party will
have the right to terminate this Agreement in full or on a Covered Product-by-Covered Product basis in one or more countries in the Territory upon delivery of written notice to the other Party in the event of any material breach in the performance
by such other Party of any of such other Party’s material obligations under this Agreement (including for example, the Parties’ respective obligations under Section 2.1(c) and Pfizer’s obligations under Section 5.2(a)),
provided that such breach has not been cured within ninety (90) days after written notice thereof is given by the non-breaching Party to the breaching Party specifying the nature of the alleged breach, provided the Parties will take all
reasonable steps to resolve the matter during the applicable cure period and that if any breach is not reasonably curable within ninety (90) days and if the breaching Party is making a bona fide effort to cure such breach, such termination
shall be delayed for a time period to be agreed by both Parties in order to permit the breaching Party a reasonable period of time to cure such breach. If the alleged material breach relates to non-payment of any amount due under this Agreement, the
cure period shall be tolled pending resolution of any bona fide dispute between the Parties as to whether such payment is due. 

 

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
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 (b) Termination for Convenience by Pfizer. Pfizer may terminate this Agreement in
full or on a Covered Product-by-Covered Product and country-by-country basis without cause for any or no reason effective upon sixty (60) days prior written notice to BIND. 

(c) Termination for Insolvency. 
 (i) Generally. To the extent permitted by law, upon the filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion
of the assets for the benefit of creditors (a “Bankruptcy Event”) by either Party, BIND, in the case of a Bankruptcy Event by Pfizer, or Pfizer, in the case of a Bankruptcy Event by BIND, may terminate this Agreement; provided,
however, that, in the case of any involuntary bankruptcy proceeding, such right to terminate will only become effective if the subject Party consents to the involuntary bankruptcy or such proceeding is not dismissed within ninety (90) days
after the filing thereof. Each Party will retain and may fully exercise all of its rights and elections under the US Bankruptcy Code and foreign equivalents, including that upon commencement of a bankruptcy proceeding by or against such Party
undergoing a bankruptcy proceeding (the “Affected Party”) under the US Bankruptcy Code or foreign equivalents, the non-Affected Party will be entitled to complete duplicates of or complete access to, as such non-Affected Party deems
appropriate, any Know-How and Patent and other intellectual property rights and all embodiments hereof (sub)licensed or to be transferred to such non-Affected Party hereunder by the Affected Party. Such Know-How, rights and embodiments will be
promptly delivered to the non-Affected Party (i) upon any such commencement of a bankruptcy proceeding and upon written request thereof by the non-Affected Party, unless the Affected Party elects to continue to perform all of its obligations
under this Agreement, or (ii) if not delivered under the foregoing clause (i), upon the rejection of this Agreement by or on behalf of the Affected Party upon written request therefore by the non-Affected Party. This Section 14.2(c) is
without prejudice to any rights the non-Affected Party may have arising under the US Bankruptcy Code, foreign equivalents or other law. 
 (ii) Rights to Intellectual Property. All rights and licenses now or hereafter granted by BIND to Pfizer under or pursuant to any Section of this Agreement, including Sections 7.1 and 7.5 hereof,
are rights to “intellectual property” (as defined in the Bankruptcy Code). The Parties hereto acknowledge and agree that the payments provided for under Sections 8.3, 8.4, 8.5, 8.6 and 8.7 and all other payments by Pfizer to BIND
hereunder, other than royalty payments pursuant to Section 8.9, do not constitute royalties within the meaning of Section 365(n) of the Bankruptcy Code or relate to licenses of intellectual property hereunder. If (a) a case under the
Bankruptcy Code is commenced by or against BIND, (b) this Agreement is rejected as provided in the Bankruptcy Code and (c) Pfizer elects to retain its rights hereunder as provided in Section 365(n) of the Bankruptcy Code, then BIND
(in any capacity, including debtor-in-possession) and its successors and assigns (including any trustee) shall provide to Pfizer all intellectual property licensed hereunder, and agrees to grant and hereby grants to Pfizer and its Affiliates a right
to access and to obtain possession of and to benefit from and, in the case of any chemical or biological material or other tangible item of which there is a fixed or limited quantity, to obtain a pro rata portion of, each of the following to

  
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the extent related to any Agreement Compound or Covered Product, or otherwise related to any right or license granted under or pursuant to this Agreement: (i) copies of pre-clinical and
clinical research data and results; (ii) all of the following (to the extent that any of the following are so related): assays, reagents and other materials; (iii) Agreement Compound or Covered Product samples; (iv) BIND Background
Technology, (v) laboratory notes and notebooks; (vi) Agreement Compound and Covered Product data or filings, and (vii) Rights of Reference in respect of regulatory filings and approvals, all of which constitute “embodiments”
of intellectual property pursuant to Section 365(n) of the Bankruptcy Code, and (viii) all other embodiments of such intellectual property, whether any of the foregoing are in BIND’s possession or control or in the possession and
control of any Third Party but which BIND has the right to access or benefit from and to make available to Pfizer. BIND shall not interfere with the exercise by Pfizer or its Affiliates of rights and licenses to intellectual property licensed
hereunder and embodiments thereof in accordance with this Agreement and agrees to use Commercially Reasonable Efforts to assist Pfizer and its Affiliates to obtain such intellectual property and embodiments thereof in the possession or control of
Third Parties as reasonably necessary or desirable for Pfizer or its Affiliates or Sublicensees to exercise such rights and licenses in accordance with this Agreement. 

(iii) No Limitation of Rights. All rights, powers and remedies of Pfizer provided in this Section 14.2(c) are
in addition to and not in substitution for any and all other rights, powers and remedies now or hereafter existing at Law or in equity (including the Bankruptcy Code) in the event of the commencement of a case under the Bankruptcy Code involving
BIND. 
 (d) Effect of Termination. Upon termination of this Agreement: 

(i) (a) Subject to Section 14.3, all rights and obligations of each Party (including (sub)licenses and other rights
granted to by either Party to the other Party under this Agreement will terminate. All manufacturing agreements (if any) between the Parties shall automatically terminate; and 

(ii) Should Pfizer or any of its Affiliates or Sublicensees have any inventory of any Covered Product, each of them will
have six (6) months thereafter in which to dispose of such inventory (subject to the payment to BIND of any royalties due hereunder thereon). 
 14.3. Survival. In addition to the termination consequences set forth in Section 14.2(d), the following provisions will survive expiration or termination of this Agreement for any reason, as
well as any other provision which by its terms or by the context thereof, is intended to survive such termination: Sections 1 (in its entirety), 2.3(c), 7.3(a)(ii), 7.4(b)(iv), 8.12, 9.1, 9.2, 10.2(c), 10.2(d), 11.2(e), 12 (in its entirety), 13.4
– 13.7 (inclusive), 14.1, 14.2(d), 14.3, 15.4 – 15.9 (inclusive), 15.12 and this Section 14.3. Expiration or termination of this Agreement for any reason will not relieve the Parties of any liability or obligation which accrued
hereunder prior to the effective date of such termination or expiration, nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity, with respect to any breach of this Agreement nor prejudice either
Party’s right to obtain performance of any obligation. All other rights and obligations will terminate upon expiration or termination of this Agreement. 

  
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	Section 15.	General Provisions. 

15.1. Assignment. Neither Party may assign this Agreement, delegate its obligations or otherwise transfer (sub)licenses or other
rights created by this Agreement, except as expressly provided hereunder or otherwise without the prior written consent of the other Party (which consent will not be unreasonably withheld); provided that (i) Pfizer may assign this Agreement to
an Affiliate or to its successor in connection with the merger, consolidation, or sale of all or substantially all of its assets, and (ii) BIND may assign this Agreement to an Affiliate or to its successor in connection with the merger,
consolidation, or sale of all or substantially all of its assets or that portion of its business pertaining to the subject matter of this Agreement. Any assignment or transfer in violation of this Section 15.1 will be void. This Agreement will
inure to the benefit of, and be binding upon, the legal representatives, successors and permitted assigns of the Parties. 

15.2. Force Majeure. Neither Party will be held liable or responsible to the other Party nor be deemed to have breached this
Agreement for failure or delay in fulfilling or performing any term of this Agreement (other than any obligation to pay monies) if, but only to the extent that, such failure or delay results from causes beyond the reasonable control of the affected
Party, potentially including fire, floods, embargoes, terrorism, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in
acting by any governmental authority or any other person or entity; provided that the Party affected will promptly notify the other of the force majeure condition and will exert diligent efforts to eliminate, cure or overcome any such causes and to
resume performance of its obligations as soon as possible. 
 15.3. Severability. If any of the provisions contained in
this Agreement is held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby, unless the absence of the
invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties will in such an instance use their reasonable best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable
provision(s) which, insofar as practical, implement the purposes of this Agreement. 
 15.4. Amendment; Waiver. This
Agreement may not be modified, amended or rescinded, in whole or part, except by a written instrument signed by the Parties; provided that any unilateral undertaking or waiver made by one Party in favor of the other will be enforceable if undertaken
in a writing signed by the Party to be charged with the undertaking or waiver. No delay or omission by either Party hereto in exercising any right or power occurring upon any breach by the other Party with respect to any of the terms of this
Agreement will impair any such right or power or be construed to be a waiver thereof. A waiver by either of the Parties of any of the covenants, conditions or agreements to be performed by the other will not be construed to be a waiver of any
succeeding breach thereof or of any other covenant, condition or agreement herein contained. 

  
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 15.5. Notices. Except as otherwise provided herein, all notices under this Agreement
will be sent by certified mail or by overnight courier service, postage prepaid, to the following addresses of the respective Parties: 
  

			
	If to Pfizer, to:	  	Pfizer Inc.
		  	Notices: R&D Business Development
		  	235 East 42nd Street
		  	New York, NY 10017
		  	Attn.: R&DBD Contract Notice
		
	With a required copy to:	  	Pfizer Inc.
		  	Notices: Pfizer Legal Division
		  	235 East 42nd Street
		  	New York, NY 10017
		  	Attn.: Chief Counsel, R&D
		
	If to BIND, to:	  	BIND Biosciences, Inc.
		  	325 Vassar Street
		  	Cambridge, Massachusetts 02139
		  	Attention: CEO
		
	With a required copy to:	  	Goodwin Procter LLP
		  	53 State Street
		  	Boston, MA 02109
		  	Attention: Christopher Denn
		
	and	  	
		
		  	Latham & Watkins LLP
		  	John Hancock Tower, 20th Floor
		  	200 Clarendon Street
		  	Boston, MA 02116
		  	Attention: Peter N. Handrinos

 or to such address as each Party may hereafter designate by notice to the other Party. A notice will be deemed to
have been given on the date it is received by all required recipients for the noticed Party. 
 15.6. Payments. All
payments by Pfizer to BIND under this Agreement when owed or paid will be non-refundable and non-creditable and not subject to set-off, except for Section 8.12(d). 
 15.7. Applicable Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York, without regard to its conflicts of law provisions, except as to any
issue which depends upon the validity, scope or enforceability of any Patent, which issue shall be determined in accordance with the laws of the country in which such patent was issued. Each of the Parties hereby irrevocably and unconditionally
consents to submit to the exclusive jurisdiction of the courts of the State of New York for any matter arising out of or relating to this Agreement and the transactions contemplated hereby, and agrees not to commence any litigation relating thereto
except in such courts. Each of the Parties hereby irrevocably and unconditionally waives any objection to the laying of venue of any matter arising 

  
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out of this Agreement or the transactions contemplated hereby in the courts of the State of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in
any such court that any such matter brought in any such court has been brought in an inconvenient forum. The Parties agree that a final judgment in any such matter shall be conclusive and may be enforced in other jurisdictions by suits on the
judgment or in any other manner provided by law. Any proceeding brought by either Party under this Agreement shall be exclusively conducted in the English language. 
 15.8. Further Assurances. Each Party agrees to do and perform all such further acts and things and will execute and deliver such other agreements, certificates, instruments and documents necessary
or that the other Party may deem advisable in order to carry out the intent and accomplish the purposes of this Agreement and to evidence, perfect or otherwise confirm its rights hereunder. 

15.9. Cumulative Remedies and Irreparable Harm. All rights and remedies of the Parties hereunder will be cumulative and in
addition to all other rights and remedies provided hereunder or available by agreement, at law or otherwise. Each Party acknowledges and agrees that, under certain circumstances, a breach of the terms or conditions of this Agreement could cause
irreparable harm and damage to the other Party and that legal remedies for such a breach may be inadequate. Nothing in this Agreement shall be construed as preventing the non-breaching Party from seeking, in appropriate circumstances, equitable or
injunctive relief restraining a breach or future violation of the terms contained herein by the breaching Party. Such right to equitable relief is in addition to whatever remedies either Party may be entitled to as a matter of law or equity,
including money damages. 
 15.10. Change of Control. Notwithstanding any provision of this Agreement to the contrary:

 (a) For all purposes of this Agreement, BIND Technology shall not include any Know-How or Patent Controlled by any
Post-Change of Control Affiliate of BIND that covers the manufacture, use or sale of any Agreement Compound as an independent compound (rather than solely as incorporated in or otherwise combined with a Targeted Nanoparticle). 

(b) For the purposes of Section 7.1(b) exclusive license grant to Pfizer, at all times following a Change of Control, BIND
Technology shall not include any Know-How or Patent Controlled by any Post-Change of Control Affiliate of BIND that BIND can demonstrate by appropriate written evidence was Developed independently of and is unrelated to and not derived, directly or
indirectly, from any BIND Technology Controlled by BIND or any of its Affiliates other than any Post-Change of Control Affiliate. 
 15.11. Relationship of the Parties. Each Party is an independent contractor under this Agreement. Nothing contained herein is intended or is to be construed so as to constitute BIND and Pfizer as
partners, agents or joint venturers. Neither Party will have any express or implied right or authority to assume or create any obligations on behalf of or in the name of the other 

  
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Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. There are no express or implied third party beneficiaries hereunder (except for Pfizer Indemnitees
other than Pfizer and BIND Indemnitees other than BIND for purposes of Section 13.7.). 
 15.12. Entire Agreement.
This Agreement (along with the Exhibits) and the Design/Preclinical Collaboration Plan contain the entire understanding of the Parties with respect to the subject matter hereof and supersede and replace any and all previous negotiations,
correspondence, arrangements and understandings, whether oral or written, between the Parties with respect to the subject matter hereof, including the Prior Agreement and that certain Confidential Disclosure Agreement between the Parties dated
April 19, 2012 which is hereby terminated effective as of the Effective Date, provided that such Confidential Disclosure Agreement will continue to govern the treatment of Confidential Information disclosed by the Parties prior to the Effective
Date in accordance with its terms. 
 15.13. Headings. The captions to the several Sections hereof are not a part of this
Agreement, but are merely guides or labels to assist in locating and reading the several Sections hereof and shall be of no force or effect in construing or interpreting any of the provisions of this Agreement. 

15.14. Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with the drafting
and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity will be construed against the drafting party will not apply. 
 15.15. Interpretation. Whenever any provision of this Agreement uses the term “including” (or “includes”), such term means “including without
limitation” (or “includes without limitations”). “Herein,” “hereby,” “hereunder,” “hereof” and other equivalent words refer to this Agreement as an
entirety and not solely to the particular portion of this Agreement in which any such word is used. All definitions set forth herein will be deemed applicable whether the words defined are used herein in the singular or the plural. Unless otherwise
provided, all references to Sections and Exhibits in this Agreement are to Sections and Exhibits of this Agreement. 
 15.16.
Counterparts; Facsimiles. This Agreement may be executed in two or more counterparts, each of which will be deemed an original and all of which together will constitute one and the same instrument. Facsimile or PDF execution and delivery of
this Agreement by either Party will constitute a legal, valid and binding execution and delivery of this Agreement by such Party. 
 [Remainder of this Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the Parties have caused this License Agreement to be executed by their
respective duly authorized representatives as of the Effective Date. 
  

			
	BIND BIOSCIENCES, INC.
		
	By:	 	 /s/ Scott Minick

		
	Name:	 	 Scott Minick

		
	Title:	 	 Chief Executive Officer and President

	
	PFIZER INC.
		
	By:	 	 /s/ Robert J. Smith

		
	Name:	 	 Robert J. Smith

		
	Title:	 	 Senior Vice President

 [Signature Page to Research, Option and License Agreement - Execution Copy] 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 Section 1.
	 	 Definitions
	  	 	1	  
	 Section 2.
	 	 Design/Preclinical Collaboration Project Phase
	  	 	16	  
	 2.1.
	 	 Conduct of the Design/Preclinical Collaboration Project
	  	 	16	  
	 2.2.
	 	 Amendment of the Design/Preclinical Collaboration Plan; Candidate Compounds and Agreement Compounds
	  	 	18	  
	 2.3.
	 	 Design/Preclinical Collaboration Project Records, Reports and Materials
	  	 	19	  
	 2.4.
	 	 Subcontractors
	  	 	18	  
	 Section 3.
	 	 Relationship Management
	  	 	19	  
	 3.1.
	 	 Program Leads
	  	 	19	  
	 3.2.
	 	 Joint Design/Preclinical Collaboration Committee
	  	 	20	  
	 Section 4.
	 	 Option
	  	 	21	  
	 4.1.
	 	 Pfizer Options
	  	 	21	  
	 Section 5.
	 	 Development and Commercialization of Agreement Compounds and Covered Products
	  	 	22	  
	 5.1.
	 	 Development & Commercialization Program
	  	 	22	  
	 5.2.
	 	 Diligence
	  	 	22	  
	 5.3.
	 	 Suspension of Development
	  	 	23	  
	 5.4.
	 	 Exceptions to Diligence Obligations
	  	 	23	  
	 5.5.
	 	 Assertion of Pfizer Diligence Obligation Claims
	  	 	24	  
	 5.6.
	 	 Regulatory Approvals
	  	 	24	  
	 5.7.
	 	 Other Pfizer Programs
	  	 	24	  
	 5.8.
	 	 Exclusivity
	  	 	24	  
	 Section 6.
	 	 Manufacturing
	  	 	25	  
	 6.1.
	 	 Preclinical Supplies
	  	 	25	  
	 6.2.
	 	 Phase 1 Supplies
	  	 	25	  
	 6.3.
	 	 Other Clinical Supplies and Commercial Supplies
	  	 	27	  
	 Section 7.
	 	 (Sub)licenses and Other Rights
	  	 	27	  
	 7.1.
	 	 (Sub)licenses to Pfizer
	  	 	27	  
	 7.2.
	 	 (Sub)licenses to BIND
	  	 	28	  
	 7.3.
	 	 Regulatory License Grants
	  	 	29	  
	 7.4.
	 	 Transfer and Sublicensing
	  	 	30	  

  
 -i-

							
	 7.5.
	 	 Direct Licenses to Affiliates
	  	 	31	  
	 7.6.
	 	 No Other Licenses or Rights
	  	 	31	  
	 7.7.
	 	 MIT License Agreement Restrictions
	  	 	31	  
	 7.8.
	 	 JHU License Agreement Restrictions
	  	 	32	  
	 7.9.
	 	 Yale License Restrictions
	  	 	33	  
	 Section 8.
	 	 Pfizer Payments to BIND
	  	 	33	  
	 8.1.
	 	 Initial License Fee
	  	 	33	  
	 8.2.
	 	 Option Fee
	  	 	34	  
	 8.3.
	 	 Development Milestone Payments
	  	 	34	  
	 8.4.
	 	 Supplemental NDA Milestone Payments
	  	 	35	  
	 8.5.
	 	 Regulatory Approval Milestone Payments
	  	 	36	  
	 8.6.
	 	 First Commercial Sale Milestone Payments
	  	 	36	  
	 8.7.
	 	 Sales Milestones
	  	 	37	  
	 8.8.
	 	 Royalties
	  	 	38	  
	 8.9.
	 	 Third Party Licenses
	  	 	39	  
	 8.10.
	 	 Generic Entry
	  	 	40	  
	 8.11.
	 	 Expenses and FTE Rate
	  	 	40	  
	 8.12.
	 	 Payment Terms
	  	 	40	  
	 8.13.
	 	 Mutual Convenience of the Parties
	  	 	42	  
	 8.14.
	 	 No Guarantee of Success
	  	 	43	  
	 Section 9.
	 	 Intellectual Property
	  	 	43	  
	 9.1.
	 	 Background Technology
	  	 	43	  
	 9.2.
	 	 Ownership and Inventorship
	  	 	43	  
	 9.3.
	 	 Disclosure of Sponsored Design/Preclinical Collaboration Technology
	  	 	46	  
	 Section 10.
	 	 Patent Prosecution and Maintenance
	  	 	46	  
	 10.1.
	 	 BIND Prosecution and Maintenance
	  	 	46	  
	 10.2.
	 	 Pfizer Prosecution and Maintenance
	  	 	47	  
	 10.3.
	 	 Cooperation
	  	 	48	  
	 Section 11.
	 	 Patent Enforcement and Defense
	  	 	49	  
	 11.1.
	 	 Notice
	  	 	49	  
	 11.2.
	 	 Enforcement and Defense
	  	 	49	  
	 11.3.
	 	 Other Enforcement and Defense
	  	 	51	  

  
 ii 

							
	 Section 12.
	 	 Confidential Information and Publicity
	  	 	51	  
	 12.1.
	 	 Confidentiality
	  	 	51	  
	 12.2.
	 	 Terms of this Agreement; Publicity
	  	 	53	  
	 12.3.
	 	 Publication
	  	 	53	  
	 12.4.
	 	 Relationship to the Confidentiality Agreement
	  	 	54	  
	 12.5.
	 	 Disclosure of Certain Data
	  	 	54	  
	 Section 13.
	 	 Warranties; Limitations of Liability; Indemnification
	  	 	54	  
	 13.1.
	 	 BIND Representations and Warranties
	  	 	54	  
	 13.2.
	 	 BIND Covenants
	  	 	57	  
	 13.3.
	 	 Pfizer Representations and Warranties
	  	 	58	  
	 13.4.
	 	 Disclaimers
	  	 	59	  
	 13.5.
	 	 Limitation of Liability
	  	 	60	  
	 13.6.
	 	 Performance by Others
	  	 	60	  
	 13.7.
	 	 Indemnification; Insurance
	  	 	61	  
	 Section 14.
	 	 Term, Termination and Survival
	  	 	65	  
	 14.1.
	 	 Term
	  	 	65	  
	 14.2.
	 	 Termination Rights
	  	 	65	  
	 14.3.
	 	 Survival
	  	 	67	  
	 Section 15.
	 	 General Provisions
	  	 	68	  
	 15.1.
	 	 Assignment
	  	 	68	  
	 15.2.
	 	 Force Majeure
	  	 	68	  
	 15.3.
	 	 Severability
	  	 	68	  
	 15.4.
	 	 Amendment; Waiver
	  	 	68	  
	 15.5.
	 	 Notices
	  	 	69	  
	 15.6.
	 	 Payments
	  	 	69	  
	 15.7.
	 	 Applicable Law
	  	 	69	  
	 15.8.
	 	 Further Assurances
	  	 	70	  
	 15.9.
	 	 Cumulative Remedies and Irreparable Harm
	  	 	70	  
	 15.10.
	 	 Change of Control
	  	 	70	  
	 15.11.
	 	 Relationship of the Parties
	  	 	70	  
	 15.12.
	 	 Entire Agreement
	  	 	71	  
	 15.13.
	 	 Headings
	  	 	71	  
	 15.14.
	 	 Waiver of Rule of Construction
	  	 	71	  
	 15.15.
	 	 Interpretation
	  	 	71	  
	 15.16.
	 	 Counterparts; Facsimiles
	  	 	71	  

  
 iii

			
	Exhibits	  	
		
	Exhibit 1.6	  	BIND Background Patents
	Exhibit 9.2(a)(ii)	  	BIND Accurin Patents
	Exhibit 12.2(c)	  	BIND Press Release

  
 iv 

 Exhibit 1.6 BIND Background Patents 

[***] 
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 Exhibit 9.2(a)(ii) BIND Accurin Patents 

[***] 
  

	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 Exhibit 12.2(c) BIND Press Release 

BIND Biosciences Announces Global Collaboration with Pfizer to Develop and 

Commercialize Multiple Accurins 
 BIND Eligible to Receive Approximately $50 Million in Upfront and Development Milestone 
 Payments Plus Additional Regulatory and Sales Milestones and Royalties for Each Accurin 
 Cambridge, MA – March xx, 2013 – BIND Biosciences, a clinical-stage biopharmaceutical company developing a new class of highly selective targeted and programmable therapeutics called
AccurinsTM, announced today that it has entered into a global collaboration agreement with Pfizer Inc. to develop and commercialize Accurins utilizing select small molecule targeted therapies. The collaboration aims to employ BIND’s
Medicinal Nanoengineering® platform to impart tissue and cellular targeting capabilities to molecularly targeted
drugs. 
 Under the terms of the agreement, Pfizer will have the exclusive option to pursue development and commercialization of the Accurins
selected by its team. Both companies will work together on preclinical research, and if Pfizer exercises its option, Pfizer will have responsibility for development and commercialization of the selected Accurins. BIND could receive up-front and
development milestone payments totaling approximately $50 million and approximately $160 million in regulatory and sales milestone payments for each Accurin commercialized as well as tiered royalties on potential future sales. 

“Pfizer, a global leader in the development of innovative, molecularly targeted therapies is an outstanding partner and this agreement demonstrates
the potential of our platform to create targeted Accurins with optimized therapeutic properties,” said Scott Minick, President and CEO of BIND. “This is our second collaboration focused on developing novel Accurins based on BIND’s
platform for targeted and programmable therapeutics and further validates the importance of targeted nanomedicines as a strategic technology for the pharmaceutical industry.” 
 “Pfizer has a strong legacy in targeted small molecule drug discovery and development and continues to be on the cutting edge of innovation in this area,” said Rod MacKenzie, Senior Vice
President and Head of PharmaTherapeutics R&D at Pfizer. ‘We look forward to working with the team at BIND Biosciences to create targeted Accurins with the aim of optimizing the therapeutic potential of future small molecules.”

 About AccurinsTM 
 BIND Biosciences is discovering and developing Accurins, proprietary new best-in-class therapeutics with superior target selectivity and the potential to improve patient outcomes in the areas of oncology,
inflammatory diseases and cardiovascular disorders. Leveraging its proprietary Medicinal Nanoengineering® platform, BIND develops Accurins that outperform conventional drugs by selectively accumulating in diseased tissues and cells. The result
is higher drug concentrations at the site of action with minimal off-target exposure, leading to markedly better efficacy and safety. 

About BIND Biosciences 
 BIND Biosciences
is a clinical-stage biopharmaceutical company developing a new class of highly selective targeted and programmable therapeutics called Accurins. BIND’s Medicinal Nanoengineering® platform enables the design, engineering and manufacturing of
Accurins with unprecedented control over drug properties to maximize trafficking to disease sites, dramatically enhancing efficacy while minimizing toxicities. 
 BIND is developing a pipeline of novel Accurins that hold extraordinary potential to become best-in-class drugs and improve patient outcomes in the areas of oncology, inflammatory diseases and
cardiovascular disorders. BIND’s lead product candidate, BIND-014, is currently in Phase 1 clinical testing in cancer patients and is designed to selectively target a surface protein upregulated in a broad range of solid tumors. BIND also
develops Accurins in collaboration with pharmaceutical and biotechnology partners to enable promising pipeline candidates to achieve their full potential and to utilize selective targeting to transform the performance of important existing drug
products. 
 BIND is backed by leading investors Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, NanoDimension, DHK
Investments, EndeavourVision and Rusnano. BIND was founded on proprietary technology from the laboratories of two leaders in the field of nanomedicine, Professors Robert Langer, David H. Koch Institute Professor of the Massachusetts Institute of
Technology (MIT) and Omid Farokhzad, Associate Professor of Harvard Medical School. For more information, please visit the company’s web site at www.bindbio.com. 
 Media Contact: 
 Kathryn Morris 
 The Yates Network 
 845-635-9828 
 Kathryn@theyatesnetwork.com

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