Document:

EX-10.46

 Exhibit 10.46 

***CERTAIN MATERIAL (INDICATED BY THREE ASTERISKS IN BRACKETS) HAS BEEN OMITTED FROM THIS DOCUMENT BECAUSE IT IS BOTH (1) NOT MATERIAL AND (2)
WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  
 

 
 AND 

ROAR Therapeutics 

Commercial License Agreement 

Date: May 19, 2014 

 This Commercial License Agreement (this “Agreement”) is made effective on
May 19, 2014 (the “Effective Date”) 
 by and between 

Selexis SA, a company incorporated under the laws of Switzerland, with its registered office at 18 chemin des Aulx, 1228 Plan-les-Ouates, Geneva, Switzerland 
 (“SELEXIS”) 

and 
 ROAR Therapeutics, a
company incorporated under the laws of [state], with its office at [***], San Diego, CA 92130 (“COMPANY”) 
 (SELEXIS and COMPANY,
collectively the “PARTIES” and, individually, a “PARTY”) 
 Preamble 

 

	A.	 WHEREAS, COMPANY is a biopharmaceutical company engaged in the research, development,
manufacturing and sale of biopharmaceutical products; 

  

	B.	 WHEREAS, SELEXIS is a biotechnology company engaged in the development and sale of recombinant
cell lines based on the SELEXIS Technology; 

  

	C.	 WHEREAS, SELEXIS is the owner of certain Confidential Information, the SELEXIS Know-How and the SELEXIS Patent Rights; 

  

	D.	 WHEREAS, pursuant to a services agreement between SELEXIS and PacificGMP dated May 21, 2012
(the “Services Agreement”) SELEXIS has developed certain recombinant cell line(s) and/or SELEXIS Material using the SELEXIS Technology and COMPANY and PacificGMP have evaluated such cell line(s); 

 

	E.	 WHEREAS, PacificGMP has agreed to assign to COMPANY all rights obtained by PacificGMP under the Services
Agreement, including the rights to obtain a license to commercialize products manufactured using the cell line(s) developed under the Services Agreement; and 

  

	F.	 WHEREAS, SELEXIS is willing to grant COMPANY, and COMPANY is willing to receive from SELEXIS, a
license under the SELEXIS Know-How and the SELEXIS Patent Rights with respect to the SELEXIS Technology to use the cell line(s) developed under the Services Agreement, on the terms and conditions set forth in
this Agreement. 

 Now, THEREFORE, the PARTIES agree as follows: 

	1.	 Definitions 

In addition to the terms defined above, the following terms, whether used in the singular or plural, shall have the following meanings as used in this
Agreement, unless otherwise specifically indicated: 
  

	1.1.	 “Affiliate” shall mean any Person that, as of the Effective Date, directly or
indirectly, controls, is controlled by, or is under common control with the relevant Person. For the purposes of this definition only, “control” shall mean the possession, directly or indirectly, of the power to cause
the direction of the management and policies of a Person, whether through ownership of voting securities of such Person, by contract or otherwise. A Person shall only be considered an Affiliate for so long as such Control exists.

  

	1.2.	 “BLA” shall mean a Biologic License Application for the Final Product filed with
the FDA or any comparable filing made with a Regulatory Authority in another country. 

  

	1.3.	 “Calendar Quarter” shall mean, for each Calendar Year, each of the three month
periods ending March 31, June 30, September 30 and December 31 respectively. 

  

	1.4.	 “Calendar Year” shall mean the period commencing on January 1 and ending
twelve (12) consecutive calendar months later on December 31. 

  

	1.5.	 “Cell Line” shall mean a mammalian cell line that is developed using the SELEXIS
Technology. Cell Line shall include, without limitation, any COMPANY Cell Line(s). 

  

	1.6.	 “Clinical Trials” shall mean human studies designed to measure the safety and/or
efficacy of the Product. Clinical Studies include Phase I Clinical Trials, Phase II Clinical Trials, and Phase III Clinical Trials. 

  

	1.7.	 “Collaboration Partner” shall mean a Third Party with which COMPANY collaborates
on the development of the production process and/or commercialization of a Product or to which COMPANY has granted a license for the development of the production process and/or commercialization of a Product. 

 

	1.8.	 “Combination Product Adjustment” shall mean the adjustment of: Net Sales for any
combination product done by multiplying actual Net Sales of such combination product by the fraction A/(A + B) where A is the weighted (by sales volume) average invoice price of the Product, if sold separately, and B is the weighted (by sales
volume) average invoice price of any other active ingredient, device or component in the combination, if sold separately. If, on a country-by-country basis, the other
active ingredient, device or component in the combination is not sold separately, Net Sales shall be calculated by multiplying actual Net Sales of the combination product in such country by the fraction A/C where A is the invoice price of the
Product, if sold separately, in such country and C is the invoice price of the combination product in such country. 

  

	1.9.	 “Commercial License” shall have the meaning set out in Article 2.1.

  
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	1.10.	 “Commercial License Option” shall mean the option granted to Company in the
Services Agreement to obtain a non-exclusive commercial license. 

  

	1.11.	 “COMPANY Technology” shall mean any Technology owned or controlled by COMPANY,
including, without limitation, any such Technology related to License or Final Product, but excluding any SELEXIS Technology related thereto. 

  

	1.12.	 “COMPANY Cell Line” shall mean the mammalian cell line developed by SELEXIS and
provided to PacificGMP and/or COMPANY pursuant to the Services Agreement and any progeny or derivatives thereof. 

  

	1.13.	 “Confidential Information” shall mean any technical and business information
pertaining to materials and production techniques, products, processes and services, including without limitation physical working models and samples of the products, research, development, patentable and unpatentable inventions, manufacturing,
purchasing and product development plans, forecasts, strategies and information, engineering, marketing, merchandising, selling, customer lists, customer prospects, software codes, algorithms, names and expertise of employees and consultants,
blueprints, technical information, trade secrets or know-how or other related proprietary business information and data, in any case whether such information is provided in tangible or intangible form,
written, oral, graphic, pictorial or recorded form or stored on computer discs, hard drives, magnetic tape or digital or any other electronic medium. Confidential Information disclosed in any tangible format will be labeled
“Confidential” or words to similar effect, and all non-tangible disclosures will be declared to be “Confidential” or words to similar effect at the time of disclosure.
Confidential Information shall include any and all material and data created by the receiving party based on, containing or otherwise reflecting Confidential Information. Confidential Information shall also include any such information or documents
which may be disclosed hereunder which the disclosing party received in confidence from a Third Party. 

  

	1.14.	 “Contract Manufacturing Organization” shall mean an entity of which at
least fifty percent (50%) of the business is directed toward the provision of services or products for non-affiliate third parties. 

 

	1.15.	 “Contractor” shall mean a Third Party contractor who: (i) develops the
production process for Products by or on behalf of COMPANY or (ii) manufactures and supplies Products by using such production process by or on behalf of Company. 

 

	1.16.	 “Default” shall have the meaning set out in Article 9.2. 

 

	1.17.	 “Defaulting Party” shall have the meaning set out in Article 9.2.

  

	1.18.	 “FDA” shall mean the United States Food and Drug Administration, or any
successor agency. 

  

	1.19.	 “Final Product” shall mean any pharmaceutical preparation in final form
containing any Licensed Products for sale by prescription, over-the-counter or any other method, in any dosage form, formulation, presentation, line extension or package
configurations, including without limitation such Product in development where the context so requires in this Agreement. 

  
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	1.20.	 “First Commercial Sale” shall mean, with respect to any Final Product in any
country, the first sale of such Final Product for use or consumption by the general public in such country after Regulatory Approval as well as Pricing and Reimbursement Approval for such Final Product has been obtained in such country. For the
avoidance of doubt, sales prior to receipt of all Regulatory Approvals and Pricing and Reimbursement Approvals necessary to commence regular commercial sales, such as so-called “treatment IND sales”,
“named patient sales” and “compassionate use sales”, shall not be construed as a First Commercial Sale. 

  

	1.21.	 “Force Majeure” shall mean conditions beyond the control of a PARTY, including
without limitation, an act of God, war, civil commotion, terrorist act, labor strike or lock-out, epidemic, failure or default of public utilities or common carriers, destruction of facilities or materials by
fire, earthquake, storm or the like catastrophe, and failure of plant or machinery (provided that such failure could not have been prevented by the exercise of skill, diligence and prudence that would be reasonably and ordinarily expected from a
skilled and experienced person engaged in the same type of undertaking under the same or similar circumstances). 

  

	1.22.	 “IND” shall mean an Investigational New Drug Application for the Product filed
with the FDA or any comparable filing made with a Regulatory Authority in another country. 

  

	1.23.	 “Insolvent Party” shall have the meaning set out in Article 9.3.

  

	1.24.	 “Invention” shall mean any invention, idea, innovation, enhancement, improvement
or feature, whether or not patentable or registrable, together with any intellectual property rights relating thereto (including without limitation the Patent Rights and rights to confidentiality and proprietary information). 

 

	1.25.	 “Know-How” shall mean information in
whatever form, tangible or intangible and on whatever medium, including without limitation, information and materials relating to Inventions and other know-how, trade secrets, data (including without
limitation all data from pre-clinical and clinical studies and other studies intended for regulatory submission), results, formulae, DNA and amino acid sequence information and developments.

  

	1.26.	 “Licensed Field of Use” shall mean the development, manufacture and sale of
Final Products for any field of use. 

  

	1.27.	 “Licensed Product” shall mean the recombinant protein listed in Exhibit 2.

  

	1.28.	 “Losses” shall mean all and any liability, damage, loss or expense.

  

	1.29.	 “Net Sales” shall mean the amount collected by COMPANY, its Affiliates and/or
its sublicensees on account of sales of Final Product to Third Parties in the Territory, less the following deductions: 

  
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	 	(i)	 sales and excise taxes and duties paid or allowed by the selling PARTY and any other governmental charges
imposed upon the production, importation, use or sale of the Final Products; 

  

	 	(ii)	 customary trade, quantity and cash discounts allowed on Final Products; 

 

	 	(iii)	 compulsory government rebates; 

 

	 	(iv)	 allowances or credits to customers on account of rejection or return of Final Product or on account of
retroactive price reductions affecting the Final Product; 

  

	 	(v)	 freight and insurance costs, if they are included in the selling price for the Final Product invoiced to Third
Parties, provided always that such deduction shall not be greater than the balance between the selling price actually invoiced to the Third Party and the standard selling price which would have been charged to such Third Party for such Final Product
exclusive of freight and insurance in the respective country or in a comparable country; and 

  

	 	(vi)	 in the event that a Final Product is sold in any country in the form of a combination product containing one or
more other therapeutically active ingredients, the Net Sales for any such Final Product shall be computed using the Combination Product Adjustment for such country. 

 

	1.30.	 “Non-Defaulting Party” shall have the
meaning set out in Article 9.2. 

  

	1.31.	 “Notice of Default” shall have the meaning set out in Article 9.2.

  

	1.32.	 “Patent Rights” shall mean any and all of the following: (i) patent
applications (including without limitation provisional patent applications) and patents (including without limitation the inventor’s certificates); (ii) any substitution, extension (including without limitation patent term extensions and
supplementary protection certificates), registration, confirmation, reissue, continuation, divisional, continuation-in-part,
re-examination, renewal, patent of addition or the like thereof or thereto; (iii) any foreign counterparts of any of the foregoing; and (iv) any utility model applications and utility models (whether
or not corresponding to any of the foregoing). 

  

	1.33.	 “PacificGMP” shall mean PacificGMP, a company incorporated under the laws of
State of California, with its registered office at 8810 Rehco Road, Suite E, San Diego, CA 92121 USA. 

  

	1.34.	 “Person” shall mean an individual, a partnership, a joint venture, a
corporation, a limited liability company, a trust, an estate, an unincorporated organization, or any other entity, or a government or any department or agency thereof, whether acting in an individual, fiduciary or other capacity.

  

	1.35.	 “Phase I Clinical Trial” shall mean a Clinical Trial conducted in humans which
is principally intended to obtain data on the safety, tolerability, pharmacokinetic or pharmacodynamic properties of a product. Phase I shall be deemed to have been initiated 

  
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when the first patient in the study has been treated. Phase I shall be deemed to have completed when the last patient has completed his or her treatment being investigated by that Clinical Trial
as described in its protocol, the database is locked, and data from all patients, according to protocol, has been analyzed for the primary endpoint. 

  

	1.36.	 “Phase II Clinical Trial” shall mean a Clinical Trial conducted in humans in
which a primary objective is a preliminary determination of therapeutic efficiency and/or to find an optimal dose range in patients with the disease target being studied. Phase II shall be deemed to have been initiated when the first patient in the
study has been treated. Phase II shall be deemed to have completed when the last patient has completed his or her treatment being investigated by that Clinical Trial as described in its protocol, the database is locked, and data from all patients,
according to protocol, has been analyzed for the primary endpoint. 

  

	1.37.	 “Phase III Clinical Trial” shall mean a Clinical Trial conducted in humans in
which a primary objective is a determination of therapeutic efficiency in patients with the disease target being studied. Phase III shall be deemed to have been initiated when the first patient in the study has been treated. Phase III shall be
deemed to have completed when the last patient has completed his or her treatment being investigated by that Clinical Trial as described in its protocol, the database is locked, and data from all patients, according to protocol, has been analyzed
for the primary endpoint. 

  

	1.38.	 “Price and Reimbursement Approval” shall mean any approvals, licenses,
registrations or authorizations of any supranational, national, regional, state or local Regulatory Authority or other regulatory agency, department, bureau or governmental entity, necessary to determine or set the pricing of a Product, and/or its
reimbursement level by the relevant health authorities, providers or other funding institutions, at supranational, national, regional, state or local level. 

  

	1.39.	 “Regulatory Approval” shall mean any approvals, licenses, registrations or
authorizations of any supranational, national, regional, state or local Regulatory Authority or other regulatory agency, department, bureau or governmental entity, necessary for the manufacture, marketing or sale of a Product or conduct of Clinical
Trials in a regulatory jurisdiction, excluding Price and Reimbursement Approval. 

  

	1.40.	 “Regulatory Authority” shall mean (i) the FDA or (ii) any and all
governmental or supranational agencies, ministries, authorities or other bodies with similar regulatory authority with respect to approval or registration of pharmaceutical or biologic products in any other jurisdiction anywhere in the world.

  

	1.41.	 “Royalty Term” shall mean with respect to each Final Product sold in a
particular country, the period beginning on the date of the First Commercial Sale in such country and terminating on [***]. 

  

	1.42.	 “SELEXIS Know-How” shall mean
SELEXIS’ Confidential Information and Know-How owned, controlled by SELEXIS, or to which SELEXIS has received a license which includes a right to grant sublicenses consistent with the Commercial License
relating to, 

  
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without limitation, the construction and development of recombinant cell lines for the manufacture of biopharmaceutical products and existing as of the Effective Date or obtained thereafter
during the Term. 

  

	1.43.	 “SELEXIS Materials” shall mean the materials provided by SELEXIS to COMPANY
under this Agreement and all modifications and improvements thereof made by SELEXIS during the Term. 

  

	1.44.	 “SELEXIS Patent Rights” shall mean Patent Rights which: (i) are owned or
controlled by SELEXIS, or to which SELEXIS has received a license which includes a right to grant sublicenses consistent with the Commercial License (ii) are necessary or useful for the use of SELEXIS Materials or the construction, development
and use of Cell Lines and (iii) are existing as of the Effective Date or obtained thereafter during the Term. Without limiting the generality this Article, the SELEXIS Patent Rights as of the Effective Date are listed in Exhibit 1 hereto.

  

	1.45.	 “SELEXIS Technology” shall mean the SELEXIS Patent Rights, the SELEXIS Know-How and the SELEXIS Materials. 

  

	1.46.	 “Tax Authority” shall mean the relevant governing tax authority as defined in
Article 4.2. 

  

	1.47.	 “Taxes” shall mean all excises, taxes and duties with the exception of VAT.

  

	1.48.	 “Technology” shall mean all inventions (whether or not patentable or patented)
and intellectual property rights therein, including without limitation, patents, patent applications, know-how, trade secrets, copyrights, trademarks, designs, concepts, registered and unregistered design
rights, data, work product, results, reports, improvements, business and research plans, analytic methods and results, experimental methods and results, manufacturing processes, developments, technologies, technical information, composites of genes
and gene constructs, cell lines, manuals, standard operating procedures, instructions and specifications. 

  

	1.49.	 “Term” shall have the meaning set out in Article 9.1. 

 

	1.50.	 “Territory” shall mean the entire world. 

 

	1.51.	 “Third Party” shall mean a Person other than SELEXIS, COMPANY or an Affiliate of
SELEXIS or COMPANY. 

  

	1.52.	 “Transferee” shall have the meaning set out in Article 2.3.

  

	1.53.	 “Valid Claim” shall mean any issued or granted claim of the SELEXIS Patent
Rights that has not been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, that is unappealable or remains unappealed at the end of the time allowed for appeal, or that has not
been disclaimed, denied or admitted to be invalid or unenforceable through reissue, re-examination, disclaimer or otherwise. 

  
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	1.54.	 “VAT” shall mean value added tax and any other similar turnover, sales or
purchase, tax or duty levied by any other jurisdiction whether central, regional or local. 

  

	2.	 Commercial Licenses 

 

	2.1.	 Commercial Licenses. Subject to payment by COMPANY of the amounts provided for below and COMPANY’S
compliance with the other terms and conditions of this Agreement, SELEXIS hereby grants to COMPANY a non-exclusive license under the SELEXIS Patent Rights and SELEXIS
Know-How, in the Territory, with the limited right to sublicense in accordance with Article 2.2, to use Cell Lines and SELEXIS Materials for the manufacture of Licensed and/or Final Products in the Licensed
Field of Use and to make, have made, use, offer for sale, sell, import and otherwise exploit Final Products, including, without limitation, the use of Licensed and Final Products in Clinical Trials (the “Commercial License”).

  

	2.2.	 Sublicenses. COMPANY may, with prior written consent from SELEXIS, which consent will not be
unreasonably withheld, grant sublicenses under the Commercial License to a Contractor or to a Collaboration Partner (the “Sublicensees”) and only with respect to (i) the establishment of a production process for a
Licensed or Final Product for or on behalf of COMPANY or (ii) the manufacture, distribution or sale of a Licensed or Final Product for or on behalf of COMPANY. Notwithstanding the foregoing, for any such Sublicensee which will be only
distributing and/or selling Licensed or Final Product and which will not be receiving any Cell Line or any SELEXIS Materials or SELEXIS Know-How (or given access to any of the foregoing), COMPANY may grant
such sublicense on prior written notice to SELEXIS. Any sublicense granted under this Agreement shall require that the Sublicensees adhere to all relevant provisions of this Agreement. Notwithstanding the above, COMPANY is and remains fully liable
and responsible for any breach of this Agreement committed or any Losses caused by any Sublicensee, or any other Third Party or Affiliate to whom the Cell Lines, SELEXIS Materials and the SELEXIS Know-How or
parts thereof are made available under any such sublicense. 

  

	2.3.	 Transfer of SELEXIS Materials. COMPANY shall not transfer the Cell Lines, SELEXIS Materials or SELEXIS Know-How to any Third Party, except that during and for the Term only, COMPANY may transfer SELEXIS Know-How to Contractors or Collaboration Partners (the
“Transferees”) solely for their use in connection with their performance of the manufacturing of Products in the Licensed Field of Use with, or on behalf of, COMPANY. If COMPANY makes any such transfer, it shall notify
SELEXIS within 30 days of any such transfer and report the name and address of any Transferee together with confirmation that the Transferee has agreed in writing to adhere to the confidentiality obligations and use restrictions set out in this
Agreement. 

  

	3.	 Consideration 

 

	3.1.	 Payments. Subject to Article 3.6, COMPANY shall pay to SELEXIS the amounts as set forth below.

  
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	3.1.1.	 Commercial License Execution Payment. As partial consideration for the rights and licenses granted by
SELEXIS to COMPANY under this Agreement, COMPANY shall pay SELEXIS a one-time fee of [***], due upon execution of this Agreement. 

 

	3.1.2.	 Commercial License Milestone Payments. As partial consideration for the rights and licenses granted by
SELEXIS to COMPANY under this Agreement, COMPANY shall make the following milestone payments to SELEXIS with respect to the first occurrence of each such milestone event for each Licensed Product: 

 

	 	(i)	 upon initiation of the first Phase II Clinical Trial for the first Final Product containing Licensed Product:
[***]; 

  

	 	(ii)	 upon completion of the first Phase II Clinical Trial for the first Final Product containing the Licensed
Product: [***]; 

  

	 	(iii)	 upon filing of BLA for the first final Product containing the Licensed Product: [***]; and

  

	 	(iv)	 upon First Commercial Sale of the first Final Product containing Licensed Product: [***].

  

	3.1.3.	 Commercial License Royalty Payments: In addition to the milestone payments under Article 3.1.2, during
the Royalty Term COMPANY shall pay SELEXIS on a Product-by-Product and country-by-country
basis a royalty of [***]percent ([***]%) of Net Sales of all Final Products sold worldwide. Where royalties are due for the sale of Final Products directly by COMPANY such royalties shall be paid for each Calendar Quarter within thirty
(30) days of the end of that Calendar Quarter. Where royalties are due for the sales of Final Product by a Sublicensee, payment shall be made within forty-five (45) days of the end of that Calendar Quarter. For the avoidance of doubt, no
royalty payments shall be due for a Final Product in a specific country after the Royalty Term has expired for such Final Product in such country. Where royalties are no longer due in accordance with the foregoing, the Commercial License granted to
COMPANY under this Agreement shall become perpetual, irrevocable, fully paid up and royalty free with respect to such Final Product in such country. 

  

	3.2.	 Mechanism of Payment. The payments due to SELEXIS under this Agreement shall be made by wire transfer or
electronic fund transfer to the credit and account of SELEXIS as follows: 

 Bank Name:     [***] 

Account:          [***] 

To:                   Selexis S.A. 18, 

                       
  chemin des Aulx 

                       
  1228 Plan-les-Ouates 

                       
  Geneva, Switzerland 

  
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	3.3.	 Payment Terms. Except with respect to royalties due pursuant to Article 3.1.3, COMPANY shall make
payments due to SELEXIS under this Agreement at the latest [***] business days after receipt of invoice. All fees and payments, including without limitation under Article 3.1.3, do not include any applicable VAT or Taxes. 

 

	3.4.	 Records. COMPANY and its Affiliates and Sublicensees shall keep true accounts of Net Sales of Licensed
Products and COMPANY shall deliver to SELEXIS at the same time as the payments due under Article 3.1.3. a written account, including quantities of Net Sales of each such Licensed Product, broken down on a country-by-country basis with respect to those payments. SELEXIS is entitled to have such accounts audited by an independent expert of its choice. Such independent expert shall be bound by confidentiality
terms at least as restrictive as the terms of Article 8 and shall be authorized to disclose to SELEXIS only the results of its audit. COMPANY shall provide access to all information reasonably requested by such expert. The cost of any audit shall be
borne by SELEXIS unless the audit shows that COMPANY underpaid SELEXIS by more than 2% of the amounts due in which case the cost of the audit shall be borne by COMPANY. 

 

	3.5.	 Single Royalty and Milestone. For Final Products covered by more than one SELEXIS Patent Rights, COMPANY
will make one payment to SELEXIS for royalties on any unit of Final Product sold by COMPANY or Sublicensees, irrespective of how many SELEXIS Patent Rights may cover such Final Product. Each milestone described in Article 3 shall be payable only
once in relation to each Licensed Product, irrespective of the number of Final Products which incorporate that Licensed Product and undergo the events triggering the payment. All fees and payments, including without limitation under Article 3.1, do
not include any applicable VAT or Taxes. 

  

	3.6.	 Buy-Out Option. COMPANY may choose to replace certain of the
milestone payments and royalty payments as set forth in Article 3.1 in its discretion. If COMPANY so chooses, it will notify SELEXIS in writing of its decision at any time prior to the first filing of BLA for the first final Product containing the
Licensed Product. Thereafter, prior to or immediately upon filing of the first BLA for the first Final Product containing the Licensed Product, COMPANY will make a one time, non-refundable payment to SELEXIS
of [***]. Subject to the receipt of the notice set forth above in this Article, and the receipt by SELEXIS of the foregoing payment, COMPANY shall be relieved of its obligations to pay the milestone payments set forth in Articles 3.1.2(iii) and
3.1.2(iv), and the royalties as set forth in Article 3.1.3. For purposes of clarification, the foregoing will not relieve COMPANY from its obligation to pay any amounts when due as set forth in Articles 3.1, 3.1.2(i), and 3.1.2(ii), nor will it
entitle COMPANY to any refund of such amounts. If COMPANY fails to so notify SELEXIS in writing, then the original terms as set forth in Article 3.1 will apply. 

 

	4.	 Taxes 

  

	4.1.	 General. All Taxes levied on account of any payment made by COMPANY to SELEXIS pursuant to this
Agreement (other than Taxes on income, gains or profits levied against SELEXIS by any competent Swiss tax authority) will be the responsibility of, and shall be paid by, COMPANY pursuant to Article. 

  
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	4.2.	 Character of Payments. The PARTIES agree that, for purposes of determining the applicability of any
Taxes, the payments to be made under this Agreement constitute payments for tangible property and license of intellectual property. However, in the event that the governing tax authority (the “Tax Authority”) qualifies
differently such payment, any additional taxes that may be applied (including without limitation any interests and penalties that may be unpaid) shall be paid by COMPANY. 

 

	4.3.	 Withholding by COMPANY. 

 

	 	(i)	 All payments by COMPANY hereunder shall be made in full without any deduction or withholding whatsoever and
free and clear of and without any deduction or withholding for or on account of any Taxes, except to the extent that any such deduction or withholding is required by law in effect at the time of payment. Subject to paragraph (ii) of this
Article, if any Taxes or amounts with respect to Taxes must be deducted or withheld, or any other deductions or withholdings must be made, from any amounts payable or paid by COMPANY, COMPANY shall pay such additional amounts as may be necessary to
ensure that SELEXIS receives and retains (after any deduction or withholding with respect to such additional amount) a net amount equal to the full amount which it would have received had payment not been made subject to Taxes or any other deduction
or withholding. 

  

	 	(ii)	 COMPANY is not required to pay any additional amounts pursuant to paragraph (i) of this Article with
respect to any deduction or withholding which would not have been required if SELEXIS had completed a declaration, claim, exemption or other form, subject to reasonable commercial efforts. 

 

	5.	 Intellectual Property 

 

	5.1.	 Ownership. Each PARTY shall retain all right, title and interest in and to its Inventions and Know-How which exist on the Effective Date or which are thereafter developed independently of the performance of this Agreement. 

 

	5.2.	 COMPANY and SELEXIS Inventions. Any Invention developed hereunder by or for either Party, solely or
jointly with the other PARTY or any Affiliate or agent thereof, shall belong exclusively (i) to COMPANY, to the extent it relates specifically to any COMPANY Technology, including, without limitation, any improvement or modification thereto
(“COMPANY Invention”); or (ii) to SELEXIS, to the extent it relates specifically to any SELEXIS Technology, including, without limitation, any improvements or modifications thereto (“SELEXIS
Invention”). Any SELEXIS Inventions shall be included within the scope of the SELEXIS Technology licensed to COMPANY under this Agreement as provided for in Article 5.5. Notwithstanding the foregoing, such ownership shall not be
construed to transfer to either PARTY ownership of or any license or other rights in or to any of such PARTY’S underlying Technology which may be included or embodied therein, or useful or necessary to use in connection with exploiting such
Invention. 

  

	5.3.	 Other Inventions. Except as set forth in Article 5.2, any other Invention developed hereunder solely by
COMPANY shall be COMPANY’S sole property and any other 

  
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Invention developed hereunder solely by SELEXIS shall be SELEXIS’ sole property. The PARTIES do not anticipate that there will be any jointly developed Inventions hereunder, but if there are
any other such jointly developed Inventions which do not relate to either the SELEXIS Technology or the COMPANY Technology, such Inventions shall be owned jointly by COMPANY and SELEXIS (“Joint Inventions”). In the event any
such Joint Inventions arise, the PARTIES will use commercially reasonable efforts to cooperate to protect and/or exploit such Joint Inventions, including, without limitation, by sharing in costs incurred with protection of such Joint Inventions and
sharing in revenues generated by the use or sublicense of the Joint Inventions. 

  

	5.4.	 Notification. Each PARTY shall promptly notify the other PARTY of any Invention arising in connection
with this Agreement provided that COMPANY has no obligation to notify SELEXIS with respect to any COMPANY Inventions developed solely by COMPANY. 

  

	5.5.	 Improvements. In the event SELEXIS possesses, acquires, creates or is licensed (with the right to grant
a sublicense consistent with the terms of the Commercial License) any improvements to the SELEXIS Technology which are necessary or useful for COMPANY to use in connection with the use of the Cell Lines as licensed hereunder, such improvements shall
automatically be included in the SELEXIS Patent Rights and/or the SELEXIS Know-How and thereby disclosed and licensed at no extra cost to COMPANY in accordance with this Agreement; provided, however, that any
rights granted by the foregoing will be subject to COMPANY’S compliance with any bona fide obligations owed to Third Parties (with respect to which SELEXIS has notified COMPANY), including, without limitation, and royalty obligations owed to
Third Parties. 

  

	5.6.	 Third Party Patent Rights. SELEXIS covenants that if SELEXIS becomes aware that COMPANY’S use of
the SELEXIS Technology in accordance with the terms hereunder would or would likely infringe any Third Party proprietary rights, SELEXIS shall use its reasonable commercial efforts to resolve such potential infringement at SELEXIS’ cost to
ensure COMPANY’S freedom to continue to exercise the licenses granted under this Agreement, including without limitation by using its reasonable commercial efforts to obtain a license from the Third Party owner of the proprietary rights which
entitles SELEXIS to continue to grant the rights to COMPANY as provided for herein. Should such efforts not be successful, SELEXIS shall inform COMPANY in writing and thereafter either PARTY may terminate this Agreement with immediate effect, save
that SELEXIS shall not have such right if COMPANY agrees to waive any liability SELEXIS would otherwise have to COMPANY hereunder with respect to the infringement of such Third Party proprietary rights. The obligations set forth in this Article
relate solely to Third Party rights related specifically and solely to the SELEXIS Technology or SELEXIS Materials licensed hereunder, and do not apply with respect to any other technology or materials used by COMPANY at its discretion in connection
with its exercise of the license rights granted hereunder, and specifically exclude any such Third Party rights to the extent relating to the Licensed Product(s) produced by any Cell Lines hereunder. 

 

	5.7.	 Enforcement of SELEXIS Patent Rights. If, during the Term, either PARTY becomes aware of any
infringement or potential infringement of the SELEXIS Technology it shall promptly notify the other PARTY in writing and the PARTIES shall consult with each other to decide the best way to respond to such infringement or misuse, provided that
SELEXIS shall remain free to take any action as it deems fit in its sole discretion. 

  
 13 

	5.8.	 COMPANY Publications. COMPANY shall have the unrestricted right to publish or otherwise disclose the
results and data obtained by the practice of the SELEXIS Technology in accordance with the terms hereof, provided such publication or disclosure does not include any Confidential Information of SELEXIS. The name of SELEXIS shall be given proper
recognition in such publication(s) as scientifically appropriate. 

  

	5.9.	 Further Assurance. Each PARTY agrees to execute and do all things at the cost of the other PARTY (if not
specifically agreed otherwise) as the other PARTY may reasonably require to give that other PARTY the full benefit of the provisions of this Article 5. 

  

	6.	 Representations, Warranties, and Covenants 

 

	6.1.	 General. Except for the representations, warranties and covenants contained in this Article 6, the
PARTIES do not make any other representations, nor give any other warranties, express or implied, nor undertake to any other covenants. The PARTIES expressly exclude any and all other representations, warranties and covenants. 

 

	6.2.	 Representations and Warranties by the PARTIES. Each PARTY hereby represents and warrants to the other
PARTY that: 

  

	6.2.1.	 Corporate Power. It is duly organized and validly existing under the laws of the state (or country or
other jurisdiction, as the case may be) of its incorporation and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof. 

 

	6.2.2.	 Due Authorization. It is duly authorized to execute and deliver this Agreement and to perform its
obligations hereunder and the persons executing this Agreement on its behalf have been duly authorized to do so by all requisite corporate actions. 

  

	6.2.3.	 Binding Agreement. This Agreement is a legal and valid obligation binding upon it and is enforceable in
accordance with its terms, except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium and other laws relating to or affecting creditors’ rights generally and by general equitable
principles and public policy. 

  

	6.2.4.	 No Conflicts. The execution, delivery and performance of this Agreement by it does not conflict with any
agreement, instrument or understanding, oral or written, to which it is a PARTY or by which it may be bound. 

  

	6.2.5.	 Intellectual Property Rights. Each PARTY represents that it has valid and sufficient arrangements and
agreements with its directors, officers and employees (which term shall include agents, consultants and subcontractors) such that ownership of intellectual property rights in and to any Inventions made by its directors, officers and employees vests
in such PARTY. 

  
 14 

	6.3.	 Additional Representations and Warranties by SELEXIS. SELEXIS hereby represents and warrants that, to
the best of its knowledge, as of the Effective Date: 

  

	6.3.1.	 There is no pending litigation asserting that the use of the SELEXIS Technology or the SELEXIS Know-How constitutes an infringement or misappropriation of any intellectual property rights of a Third Party; and 

  

	6.3.2.	 SELEXIS has the right in and to the SELEXIS Technology, SELEXIS
Know-How and the SELEXIS Patents to grant COMPANY the rights which are granted to COMPANY under this Agreement. 

  

	6.4.	 Additional Warranties by COMPANY. COMPANY hereby represents and warrants to SELEXIS that:

  

	6.4.1.	 There are no Third Party intellectual property rights or any other rights that may be asserted against SELEXIS
claiming that SELEXIS was or is directly infringing or is helping or assisting COMPANY in infringing such Third Party’s rights in connection with COMPANY’S exercise of the Commercial License granted by SELEXIS hereunder (except to the
extent that any such Third Party rights relate solely and specifically to the SELEXIS Technology and/or SELEXIS Materials), including, without limitation, the development, manufacture and commercialization of Licensed Products and/or Final Products
as permitted hereunder; and 

  

	6.4.2.	 As of the Effective Date, to the best of its knowledge, there is no litigation pending against COMPANY in
connection with the use or ownership of the Licensed Product, including, without limitation, the infringement or misappropriation of any intellectual property rights of a Third Party relating to the Licensed Product, and COMPANY has not received any
written claim that the use thereof infringes on any intellectual property rights of a Third Party or a request or demand from any Third Party for the licensing of any intellectual property rights to such Third Party in connection with the use of the
Licensed Product. 

  

	6.4.3.	 COMPANY will not knowingly misappropriate or infringe the intellectual property or other rights of any Third
Party in connection with its exercise of its licensed rights hereunder, including, without limitation, use of any SELEXIS Technology, Cell Line, or development, manufacture or sale of Licensed and/or Final Product hereunder, and understands and
agrees that SELEXIS will have no liability whatsoever for any such misappropriation or infringement to the extent they do not relate solely and specifically to the use of the SELEXIS Technology and/or SELEXIS Materials hereunder.

  

	6.5.	 Disclaimer of Warranties by SELEXIS. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT AND WITHOUT
LIMITING THE GENERALITY OF ARTICLE 6.1, SELEXIS DOES NOT MAKE NOR GIVE ANY REPRESENTATION OR WARRANTY TO COMPANY OF ANY NATURE, EXPRESS OR IMPLIED, THAT THE SELEXIS TECHNOLOGY WILL BE USEFUL FOR, OR ACHIEVE ANY PARTICULAR RESULTS AS A RESULT OF ANY
USE THEREOF BY SELEXIS OR BY COMPANY PURSUANT TO ANY LICENSE GRANTED TO COMPANY UNDER THIS AGREEMENT. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, 

  
 15 

	 	
SELEXIS SPECIFICALLY DISCLAIMS ANY WARRANTY OF NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

 

	7.	 Liability and Indemnification 

 

	7.1.	 Indemnification by SELEXIS. During the Term of this Agreement and thereafter, SELEXIS hereby agrees to
save, defend and hold COMPANY, its Affiliates, and their respective officers, directors, employees, consultants and agents harmless from and against any and all Losses resulting directly from (i) any Third Party claim alleging that
Customer’s use of the SELEXIS technology and/or the SELEXIS Materials in strict accordance with the terms of this Agreement infringes or misappropriates such Third Party’s intellectual property or other property right (except to the extent
such claim relates to the use of the SELEXIS Technology and/or SELEXIS Materials in combination with any technologies or materials not supplied by SELEXIS or any modifications made by anyone other than SELEXIS to the SELEXIS Technology or SELEXIS
Materials); or (ii) any material breach of SELEXIS’ representations, warranties and covenants set forth in Article 6; except in each case to the extent that such Losses were caused by willful misconduct or gross negligence of COMPANY or
any of its Affiliates, Collaborators or Sublicensees. In the event COMPANY seeks indemnification under this Article 7.1. COMPANY shall notify SELEXIS of any claim as soon as reasonably practicable after it receives notice of the claim. COMPANY shall
allow SELEXIS to conduct and control the defense against the claim (including without limitation to settle the claim solely for monetary consideration), shall (at SELEXIS’ expense) execute and deliver such documents and other papers and take
such further actions as may be reasonably required to defend against the claim (including without limitation to settle the claim solely for monetary consideration) and shall (at SELEXIS’ expense) cooperate as requested by SELEXIS in the defense
of the claim, provided always that SELEXIS may not settle any such claim or otherwise consent to an adverse judgment or order in any relevant action or other proceeding which includes any admission as to liability or fault without the prior express
written consent of COMPANY, which consent will not be unreasonably withheld. 

  
 16 

	7.2.	 Indemnification by COMPANY. During the Term of this Agreement and thereafter, COMPANY hereby agrees to
save, defend and hold SELEXIS and its officers, directors, employees. consultants and agents harmless from and against any and all Losses resulting from (i) Third Party claims in connection with personal injury or damages to property caused by
the Licensed Products and/or Final Products, including, without limitation, any product liability claims however stated; (ii) Third Party claims relating to any use of the Cell Lines. SELEXIS Technology and/or SELEXIS Materials outside the
scope of the license granted herein or otherwise not in strict compliance with the terms hereof, or any use of the Cell Lines, SELEXIS Technology and/or SELEXIS Materials in conjunction with technology or materials not provided by SELEXIS, or any
modifications to the SELEXIS Technology and/or SELEXIS Materials (except in each of the foregoing cases to the extent SELEXIS is obligated to indemnify COMPANY pursuant to Article 8.1 above); or (iii) any material breach of COMPANY’S
representations, warranties and covenants set forth in Article 6; in each case, except to the extent that such Losses result from the willful misconduct or gross negligence of SELEXIS. In the event SELEXIS seeks indemnification under this Article,
SELEXIS shall notify COMPANY of any claim as soon as reasonably practicable after it receives notice of the claim. SELEXIS shall allow COMPANY to assume direction and control of the defense of the claim (including without limitation the right to
settle the claim solely for monetary consideration), and shall (at COMPANY’S expense) execute and deliver such documents and other papers and take such further actions as may be reasonably required to defend against the claim (including without
limitation to settle the claim solely for monetary consideration). SELEXIS shall (at COMPANY’S expense) cooperate as requested by COMPANY in the defense of the claim, provided always that COMPANY may not settle any such claim or otherwise
consent to an adverse judgment or order in any relevant action or other proceeding which includes any admission as to liability or fault without the prior express written consent of SELEXIS, which consent will not be unreasonably withheld.

  

	7.3.	 No Incidental or Consequential Damages. In no event shall either PARTY be responsible for any incidental
or consequential damages, including without limitation, lost profits or opportunities; provided that the foregoing shall in no event limit a PARTY’S indemnification obligation under Article 7.1 or Article 7.2. 

 

	7.4.	 Limitation of Liability. SELEXIS’ cumulative liability under this Agreement, whether in contract,
in tort, or otherwise, shall in no event exceed the aggregate consideration paid by COMPANY to SELEXIS under this Agreement. 

  

	8.	 Confidentiality 

 

	8.1.	 Non-disclosure. During the Term of this Agreement and for five
(5) years thereafter, each PARTY shall keep Confidential Information of the other PARTY confidential and shall not (i) use the other PARTY’S Confidential Information for any purpose not expressly permitted under this Agreement, nor
(ii) disclose the other PARTY’S Confidential information to any Person other than those of its agents, employees, and consultants (collectively, “Representatives”) who need to know such Confidential Information for a use
or purpose expressly permitted under this Agreement. Any such Representative who receives Confidential Information pursuant to this Article 8.1 shall be bound by written obligations of confidentiality and
non-use with respect to the Confidential Information that are no less stringent than the obligations set forth in this Agreement. 

  
 17 

	8.2.	 Exceptions. The confidentiality obligations set forth in Article 8.1 shall not apply to Confidential
Information that (i) is, or becomes, public information other than as the result of the violation of this Agreement or other act or omission by the receiving PARTY or its Representatives; (ii) was lawfully known to the receiving PARTY or
its Representatives without restriction on use or disclosure at the time of disclosure hereunder; (iii) is hereafter lawfully received by the receiving PARTY or its Representatives from a Third Party authorized to make such disclosure and
without restriction on use or disclosure; or (iv) is approved for release by prior written consent from the disclosing Party. 

  

	8.3.	 Authorized Disclosures. Notwithstanding any provision of this Agreement to the contrary,-each PARTY may
disclose Confidential Information of the other PARTY to the extent such disclosure is required by law, provided however that the receiving PARTY gives the disclosing PARTY reasonable prior written notice to enable the disclosing PARTY to take
appropriate measures to protect its Confidential Information and fully cooperates, subject to commercially reasonable efforts, with the disclosing PARTY to prevent or limit to the greatest extent possible the disclosure of Confidential Information.

  

	8.4.	 Use of Name. No right, express or implied, is granted to either PARTY by this Agreement to use in any
manner any trademark or trade name of the other PARTY including the names “ROAR Therapeutics” and “SELEXIS” without the prior written consent of the PARTY entitled to such trademark or trade name.

  

	9.	 Term and Termination 

 

	9.1.	 Term. This Agreement is effective as of the Effective Date. Unless earlier terminated pursuant to
Articles 9.2, 9.3 or 9.4 of this Agreement shall remain in full force and effect until expiration of the last-to-expire of the SELEXIS Patent Rights (the
“Term”). 

  

	9.2.	 Termination for Default. In addition to any other remedies which may be available at law or equity. in
the event of any material breach of this Agreement (the “Default”) by a PARTY (the “Defaulting Party”), the PARTY not in default (the “Non-Defaulting
Party”) shall have the right to give the Defaulting Party a written notice thereof (the “Notice of Default”), which must state the nature of the Default in reasonable details and request that the Defaulting
Party cure such Default within sixty (60) days. If such Default is not cured within sixty (60) days after receipt of a Notice of Default by the Defaulting Party or if such Default cannot be cured, the
Non-Defaulting Party may, at its sole discretion, terminate this Agreement by written notice effective upon receipt. 

  

	9.3.	 Termination for Bankruptcy. In the event that a PARTY shall become insolvent or make any arrangement
with its creditors or has a receiver or administrator appointed to the whole or any part of its assets or if an order shall be made or a resolution passed for its winding up unless such order or resolution is part of a scheme for its amalgamation or
reconstruction (the “Insolvent Party”), the other PARTY shall have the right, at its sole discretion, to serve immediate notice of termination of this Agreement, effective upon receipt. 

  
 18 

	9.4.	 Termination by COMPANY. COMPANY may terminate this Agreement at any time by giving sixty (60) days
written notice to SELEXIS. 

  

	9.5.	 Consequences of Expiration or Termination. 

 

	9.5.1.	 Termination of Licenses. In the event of a termination of this Agreement by COMPANY pursuant to Article
9.2 or 9.4 or by SELEXIS pursuant to Article 9.2 or 9.3, all and any rights and licenses granted under this Agreement shall terminate upon termination of this Agreement except for the licenses which have become perpetual pursuant to Article 3.1.3.

  

	9.5.2.	 SELEXIS Technology and Confidential Information. Upon termination of this Agreement under Article 9.2 or
Article 9.3 where COMPANY is the Insolvent Party, or Article 9.4, COMPANY shall dispose of all tangible embodiments of the SELEXIS Technology and SELEXIS Confidential Information, including without limitation the SELEXIS Materials and Cell Lines,
and render inaccessible or useless all electronic embodiments, of SELEXIS Confidential Information provided to COMPANY by SELEXIS hereunder, except that COMPANY may retain one copy of the SELEXIS Confidential Information delivered hereunder in its
secured legal files only for ensuring compliance with the terms of this Agreement. 

  

	9.5.3.	 COMPANY Confidential Information. Upon any expiration or termination of this Agreement, SELEXIS shall
dispose of all tangible embodiments, and render inaccessible or useless all electronic embodiments, of COMPANY Confidential Information provided to SELEXIS by COMPANY hereunder, except that SELEXIS may retain one copy of the COMPANY Confidential
Information delivered hereunder in its secured legal files only for ensuring compliance with the terms of this Agreement. 

  

	9.5.4.	 Accrued Obligations. Expiration or termination of this Agreement shall not relieve the PARTIES of any
obligation or liability accruing prior to such expiration or termination. 

  

	10.	 Miscellaneous 

 

	10.1.	 Assignment. Neither this Agreement nor any interest hereunder shall be assignable by either PARTY
without the prior written consent of the other PARTY; provided, that either PARTY may assign this Agreement and all of its rights and obligations hereunder, without such prior written consent, to an entity which acquires all or substantially all of
the business or assets of such PARTY (or the business or assets to which this Agreement pertains) whether by merger, consolidation, reorganization, acquisition, sale or otherwise; and COMPANY may assign this Agreement and all of its rights and
obligations hereunder, without such consent, to an Affiliate if COMPANY remains liable and responsible for the performance and observance of all of the Affiliate’s duties and obligations hereunder, and provided that such Affiliate is not a
Contract Manufacturing Organization. This Agreement shall be binding upon the successors and permitted assigns of the PARTIES and the name of a PARTY appearing herein shall be deemed to include the names of such PARTY’S successors and permitted
assigns to the extent necessary to carry out the intent of this Agreement. Any assignment not in accordance with this Article 10.1 shall be null and void. 

  
 19 

	10.2.	 Compliance with Governmental Obligations. Each PARTY shall comply, upon reasonable notice from the other
PARTY, with all governmental requests directed to either PARTY relating to this Agreement and provide all information and assistance necessary to comply with the governmental requests. 

 

	10.3.	 Counterparts. This Agreement may be executed in any number of counterparts, each of which need not
contain the signature of more than one PARTY but all such counterparts taken together shall constitute one and the same agreement, and may be executed through the use of facsimiles. 

 

	10.4.	 Dispute Resolution. The PARTIES agree that in the event of a dispute between them arising from,
concerning or in any way relating to this Agreement, the PARTIES shall undertake good faith efforts to resolve any such dispute, with the matter being referred at the request of either PARTY to the General Counsel (or chief legal officer) of each
PARTY and, if remaining unresolved after 30 days, then to the Chief Executive Officers of each PARTY (or their designees). If after 90 days of the matter first being referred to the General Counsel the PARTIES are unable to resolve such dispute,
either PARTY may seek any remedy available pursuant to Article 10.16. 

  

	10.5.	 Entire Agreement. This Agreement sets forth all of the covenants, promises, agreements, representations,
warranties, conditions and understandings between the PARTIES with respect to the subject matter hereof, and constitutes and contains the complete, final, and exclusive understanding and agreement of the PARTIES with respect to the subject matter
hereof, and cancels, supersedes and terminates all prior agreements and understanding between the PARTIES with respect to the subject matter hereof. There are no covenants, promises, agreements, representations, warranties, conditions or
understandings, whether oral or written, between the PARTIES other than as set forth herein. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the PARTIES hereto unless reduced to writing and signed by
the respective authorized officers of the PARTIES. For the avoidance of doubt, to the extent of any inconsistency between this Agreement and the Services Agreement. the terms of this Agreement shall govern and prevail. 

 

	10.6.	 Force Majeure. Neither PARTY shall be liable to the other for loss, damages, default or delay due to
Force Majeure, provided that the PARTY affected by a case of Force Majeure gives prompt notice of such case to the other PARTY. The PARTY giving such notice shall thereupon be excused from its obligations hereunder as it is thereby disabled from
performing for so long as it is so disabled, provided, however, that such affected PARTY commences and continues to take reasonable and diligent actions to cure such cause: and provided further that if any Force Majeure delays or prevents the
performance of the obligations of either PARTY for a continuous period in excess of 30 days, the PARTY not affected shall then be entitled to terminate this Agreement, which termination shall be effective upon 10 days written notice to the affected
PARTY. Such a termination shall be irrevocable, except otherwise provided by the PARTIES and upon termination the provisions of Article 9.5 shall apply. 

  
 20 

	10.7.	 Further Actions. Each PARTY agrees to execute, acknowledge and deliver such further instruments, and to
do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of the Agreement. 

  

	10.8.	 Independent Contractors. The relationship between SELEXIS and COMPANY created by this Agreement is one
of independent contractors and neither PARTY shall have the power or authority to bind or obligate the other PARTY except as expressly set forth in this Agreement. 

 

	10.9.	 Interpretation of Agreement. Articles and other descriptive headings used in this Agreement are for
reference purposes only and shall not constitute a part hereof or affect the meaning or interpretation of this Agreement. Whenever the context so requires, the use of the singular shall be deemed to include the plural and vice versa.

  

	10.10.	 License Obligations. Nothing in this Agreement imposes any obligation upon a PARTY to enter into any
other license or agreement with the other PARTY. 

  

	10.11.	 Notices. All notices and other communications required by this Agreement shall be in writing in the
English language and shall be deemed given if delivered personally or by facsimile transmission (receipt verified), mailed by registered or certified mail (return receipt requested), postage prepaid, or sent by express courier service, to the
PARTIES at the following addresses (or at such other addresses that a PARTY specifies by like notice, provided, however, that notices of a change of address shall be effective only upon written receipt thereof): 

If to COMPANY, addressed to: 

ROAR Therapeutics 
 [***] 

San Diego, CA 92130 
 Attention:
                   Charles Prussak, Ph.D. 

Facsimile:                    [number] 

If to SELEXIS, addressed to: 

Selexis S.A. 
 18 Chemin des
Aulx 
 1228 Plan-les-Ouates 

Geneva, Switzerland 
 Attention:
                   Ms Sophie Vock (General Assistant) 

With a copy to:           CEO, Igor Fisch, Ph.D. 

Facsimile:                    +41 22 308-9361 

  
 21 

	10.12.	 Binding Effect. This Agreement shall be binding upon and inure solely to the benefit of COMPANY and
SELEXIS (and their permitted successors and assigns) and nothing in this Agreement (express or implied) is intended to or shall confer upon any Third Party any rights, benefits or remedies of any nature whatsoever under or by reason of this
Agreement. 

  

	10.13.	 Severability. If any term, covenant or condition of this Agreement or the application thereof to any
PARTY or circumstance shall, to any extent, be held to be invalid or unenforceable, then the remainder of this Agreement, or the application of such term, covenant or condition to PARTIES or circumstances other than those as to which it is held
invalid or unenforceable, shall not be affected thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent permitted by applicable law. 

 

	10.14.	 Waiver. The failure on the part of a PARTY to exercise or enforce any rights conferred upon it hereunder
shall not be deemed to be a waiver of any such rights nor operate to bar the exercise or enforcement thereof at any time or times hereafter. 

  

	10.15.	 Survival. Articles 1, 3.4, 4, 5, 6, 7, 8, 9.5 and 10 shall survive any termination or expiration of this
Agreement in accordance with their terms. 

  

	10.16.	 Governing Law and Jurisdiction. This Agreement shall be governed by and construed in accordance with the
substantive laws of Switzerland, without regard to principles of conflict of laws. Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of Geneva, Switzerland.

 IN WITNESS WHEREOF, the PARTIES, having read the terms of this Agreement and intending to
be legally bound hereby, do hereby execute this agreement: 

  
 22 

							
	SELEXIS SA	    	ROAR Therapeutics
				
	Signature:	 	 /s/ Igor Fisch
	    	Signature:	  	 /s/Charles Prussak

				
	Place, Date:  	 	 6/6/14
	    	Place, Date:  	  	 5/28/14

				
	Name:	 	Igor Fisch	    	Name:	  	Charles Prussak, Ph.D.
				
	Title:	 	Chief Executive Officer	    	Title:	  	

  
 23 

 EXHIBIT 1 

SELEXIS PATENT RIGHTS 
 [***] 

  
 24 

 EXHIBIT 2 

LICENSED PRODUCT(S): 
 ROR-1 MAb aka UC-961 

  
 25EX-10.47

 Exhibit 10.47 

***CERTAIN MATERIAL (INDICATED BY THREE ASTERISKS IN BRACKETS) HAS BEEN OMITTED FROM THIS DOCUMENT BECAUSE IT IS BOTH (1) NOT MATERIAL AND
(2) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  
 

 
 EXCLUSIVE LICENSE AGREEMENT 

BETWEEN 
 GEORGETOWN
UNIVERSITY 
 AND 

TOKALAS, INC. 

CONFIDENTIAL 
  

 
  

	
	 
	
GU Ref. No.
  

	 
	2006-041
	 
	2012-019
	 
	2014-012

 LICENSE AGREEMENT 

TABLE OF CONTENTS 
  

					
		
	 Article 1. PREAMBLE
	  	 	1	 
		
	 Article 2. DEFINITIONS
	  	 	1	 
		
	 Article 3. GRANT OF LICENSE
	  	 	6	 
		
	 Article 4. SUBLICENSES
	  	 	7	 
		
	 Article 5. DILIGENCE REQUIREMENTS
	  	 	9	 
		
	 Article 6. FINANCIAL PROVISIONS
	  	 	9	 
		
	 Article 7. PATENT PROSECUTION
	  	 	13	 
		
	 Article 8. CONFIDENTIALITY
	  	 	15	 
		
	 Article 9. REPORTING
	  	 	16	 
		
	 Article 10. RECORD KEEPING
	  	 	18	 
		
	 Article 11. PATENT INFRINGEMENT
	  	 	18	 
		
	 Article 12. TERM AND TERMINATION
	  	 	21	 
		
	 Article 13. REPRESENTATIONS & DISCLAIMER OF WARRANTIES
	  	 	25	 
		
	 Article 14. GENERAL
	  	 	27	 

 Schedules 
  

	 	A	 PATENT RIGHTS 

  

	 	B	 COMPANY’S DEVELOPMENT PLAN 

 

	 	C	 MILESTONES 

  

	 	D	 MILESTONE PAYMENTS 

  

	 	E	 LOW AND MIDDLE INCOME COUNTRIES 

 

  
 i 

 EXCLUSIVE LICENSE AGREEMENT 

This Exclusive License Agreement (“Agreement”), effective as of March 28, 2014 (“Effective Date”), is by and
between Georgetown University, a nonprofit institution of higher education organized as a non-stock corporation under federal charter”, having its principal office at 37th & O Streets, NW, Washington, DC 20057 (“Georgetown”) and Tokalas, Inc., a for-profit company having
its principal office at 1737 Grand Avenue, Del Mar, CA 92014 (“Company”). 
 ARTICLE 1. PREAMBLE 

 

	1.1	 A valuable invention generally known as Targeting of EWS-FLI1 as
Anti-Tumor Therapy (“Invention”), has been made by Georgetown faculty Jeffrey Toretsky, Milton Brown, Yali Kong and Aykut Uren (“Inventors”). 

 

	1.2	 Subject to certain rights retained by the U.S. Government in inventions resulting from federally supported
work, under Georgetown’s policy, Georgetown is owner by assignment of certain Patent Rights (as later defined herein) and has the right to grant licenses to the extent of its interest in such Patent Rights. 

 

	1.3	 Georgetown is committed to the policy that ideas or creative works produced at Georgetown should be used for
the greatest possible public benefit and believes that reasonable incentives should be provided for the prompt introduction of such ideas into public use, all in a manner consistent with the public interest. 

 

	1.4	 Georgetown desires to have the Patent Rights developed and commercialized to benefit the public and is
willing to grant a license hereunder. 

  

	1.5	 Georgetown adheres whenever possible to socially responsible licensing practices, which address unmet and
underserved needs, such as those of neglected patient populations or specific geographic areas, giving particular attention to improved therapeutics, diagnostics and agricultural technologies for the developing world. 

 

	1.6	 Company has represented to Georgetown to induce Georgetown to enter into this Agreement, that Company shall
commit itself to a thorough, vigorous, and diligent program of exploiting the Patent Rights so that public utilization shall result therefrom. 

  

	1.7	 Company desires to obtain and Georgetown desires to grant Company an exclusive license under the Patent
Rights upon the terms and conditions hereinafter set forth. 

 ARTICLE 2. DEFINITIONS 

As used in this Agreement, the following terms shall have the following meanings; defined terms may be used in the singular or in plural, as
sense requires: 
  

	2.1	 “Affiliate”: Any corporation or other business entity that controls Company, is
controlled by Company, or is under common control with Company. “Controls,” “control” or “controlled” as used in this paragraph means direct or indirect ownership of at least fifty percent (50%) or more of the
outstanding voting stock or other voting ownership interests 

  

	 	 
of such corporation or other business entity, or the ability to direct (either directly or indirectly, through ownership of voting securities, by contract or otherwise) the decision-making authority of such corporation or other business entity. 

  

	2.2	 “Business Day”: A day other than a Saturday, Sunday, federal holiday, holiday
observed by Georgetown, or any day on which the Georgetown campus is closed. 

  

	2.3	 “Back Patent Expenses” shall have the meaning set forth in
Section 7.9.1. 

  

	2.4	 “Claim Expiration Date”: the expiration of the last to expire of the claims of the
Patent Rights covering the manufacture, use or sale of a Licensed Product in that country. 

  

	2.5	 “Clinical Trial”: A human clinical trial of a Licensed Product that satisfies the
requirement of 21 C.F.R § 312.21, or its foreign equivalent. A Clinical Trial shall be considered commenced at the time the Licensed Product is administered to the first subject. 

 

	2.6	 “Combination Product”: Any product containing both a component that constitutes a
Licensed Product and one or more other components that do not constitute Licensed Product and that is/are reasonably necessary for the function of such product and are sold together as a single product. 

 

	2.7	 “Commercially Reasonable Efforts”: With respect to the commercialization of a
product, efforts that are consistent with those utilized by companies of size and type similar to Company (or, if applicable, a Sublicensee), assuming such comparable company(ies) is a going concern, for products with similar commercial potential at
a similar stage of development, taking into consideration their safety and efficacy, their cost to develop, the competitiveness of alternative products, the nature and extent of their market exclusivity, the likelihood of regulatory approval, their
profitability, and all other relevant factors. 

  

	2.8	 “Company”: Company shall be construed to mean “Tokalas”.

  

	2.9	 “Confidential Information”: Information (including without limitation documents,
notes, drawings, models, designs, data, results, memoranda, tapes, records, software, formulae and algorithms, marketing data, business planning or financial information, in hard copy form or in electronic form) which is not generally available to
the public and which is disclosed by a Party to the other Party in connection with this Agreement, including without limitation information that: (a) is related to and results from or arises out of use of the Invention, or the Patent Rights, or
(b) is reasonably necessary for the practice of the Patent Rights or for the development or commercialization of Licensed Products, or (c) is related to and results from or arises out of this Agreement, the terms and conditions of this
Agreement, and any reports associated with this Agreement, including Progress Reports and Royalty Reports. 

  

	2.10	 “Cover”, “Covering”, or “Covered”:
“Cover”, “Covering” or “Covered” means, with respect to Patent Rights, that, but for a license granted to a party under a claim included in such Patent Rights, the practice by such party of an Invention claimed in
such Patent Rights would infringe such claim (or in the case of a patent application, would infringe a claim in such patent application if it were to issue as a patent). 

  
 2 

	2.11	 “Development Plan”: means a written description of the current plan prepared and
undertaken or to be undertaken by Company (as it may be updated from time to time in accordance with Section 5.1) to commercialize the Licensed Products, which is attached hereto as Schedule B . 

 

	2.12	 “Developing Territory”: Countries within the Licensed Territory that are designated
by The World Bank (www.worldbank.org) as Low-Income or Middle-Income Economies, attached hereto as Schedule E, as such list may change from time to time, or any subsequent list that may be mutually agreed to
by Georgetown and Company. 

  

	2.13	 “Diagnostic Field”: means, and is limited to, the practice of the Patent Rights for
diagnostics, including without limitation, companion diagnostics. 

  

	2.14	 “Effective Date”: The date of the last signature on the signature page.

  

	2.15	 “FDA”: The U.S. Food and Drug Administration, or any successor agency thereto.

  

	2.16	 “First Commercial Sale”: The initial Sale of a Licensed Product to a Third Party end user,
following receipt of all applicable regulatory approvals. 

  

	2.17	 “Infringe”, “Infringement” or any correlative term: Any infringement
(whether direct, indirect, contributory or otherwise) of any claim (including without limitation under the doctrines of claim construction or differentiation, literal overlap or equivalents); or any misuse, misappropriation, or theft related to the
Patent Rights. 

  

	2.18	 “Initial Public Offering” means the effectiveness of a registration statement for
first sale of Company’s common stock in a firm commitment underwritten public offering registered under the Securities Act of 1933, as amended. 

  

	2.19	 “Invention”: As defined in Section 1.1

  

	2.20	 “Licensed Fields”: Collectively, the Therapeutic Field, the Diagnostic Field, and
the Research Tool Field. 

  

	2.21	 “Licensed Product”: means (a) Any and all products or processes in the Licensed
Fields, the making, use, offer for sale, sale, importation, or rendering of which, but for the license granted in this Agreement, would Infringe one or more claims of the Patent Rights in the country in which it is made, used, sold, offered for
sale, imported, or rendered; or (b) any and all products in the Licensed Fields, the make, use, sale, or manufacture of which relies on a process(es) which, but for the license granted in this Agreement would Infringe one or more claims of the
Patent Rights in the country in which it is made, used, sold, offered for sale, imported, or rendered. For the purposes hereof, a claim set forth in an application within the Patent Rights that has not been abandoned or finally rejected in a
decision that is unappealable or unappealed within the time allowed for appeal shall be deemed a claim for the purposes of determining a Licensed Product. The invalidity of a particular claim in one or more countries shall not invalidate such claim
in the remaining countries of the Licensed Territory. 

  
 3 

	2.22	 “Licensed Territory”: Worldwide. 

 

	2.23	 “Net Revenues”: The gross revenues received from combined Sales of Licensed
Products, less the following: (a) commercially reasonable trade, quantity and cash discounts, chargebacks, credits and allowances actually allowed and taken; (b) sales or use taxes, excise taxes, customs duties, and other governmental
charges; (c) amounts invoiced to the customer for outbound transportation, shipping, handling, and insurance; and (d) amounts actually allowed or credited on returns or rejections of Licensed Products or billing errors. In computing Net
Revenues, no deductions from gross invoiced amounts and fees shall be made for commissions payable to individuals (whether they are with independent sales agencies or employed by Company) or for cost of collections. “Net Revenues” shall
also include any recovery of compensatory or actual damages awarded to Company in an Infringement action, as set forth in Section 11.4.1. “Net Revenues” shall not include any consideration paid to cover the costs and expenses
of research, including without limitation under a sponsored research agreement. Notwithstanding the above, the parties agree that the meaning of “Net Revenues” shall be modified in good faith as necessary to be consistent with the meaning
of “Net Revenues” set forth in a contract between Company and a Sublicensee. Such a modification to the definition of Net Revenues will require Georgetown consent, which shall not be withheld unreasonably. 

 

	2.24	 “Non-Commercial Use”: Use of Patent Rights
for academic research and development, education, or other not-for-profit scholarly purposes which are undertaken at Georgetown or at a nonprofit or governmental
institution that does not use the Patent Rights in the production or manufacture of products for sale. For the sake of added clarity, research sponsored by a non-profit organization or commercial entity at
Georgetown, performed by Georgetown personnel, Clinical Trials and/or translational research studies performed by Georgetown personnel shall be considered Non-Commercial Use. 

 

	2.25	 “Party”: Georgetown or Company; “Parties” means collectively Georgetown
and Company. 

  

	2.26	 “Patent Expenses”: All fees, charges, expenses, and costs incurred before and after
the Effective Date in connection with the preparation, filing, prosecution, issuance, reissuance, reexamination, interference, enforcement, and/or maintenance of patents or patent applications relating to the Patent Rights, including without
limitation all fees and charges of outside patent counsel. Patent Expenses shall be considered to be incurred when the fee, charge, expense, or cost is actually incurred (rather than when it is invoiced). For example, charges of outside patent
counsel are considered to be incurred as of the date on which the professional services are rendered. 

  

	2.27	 “Patent Rights”: a) U.S. and foreign patents and patent applications listed in
Schedule A, as it may be amended from time to time by mutual agreement of the Parties; (b) all patents and patent applications related to clause (a), whether filed before or after the Effective Date, which claim priority under 35
U.S.C. § 119 or the benefit of the filing date under 35 U.S.C. § 120 or § 371 (but only to the extent of subject matter in a patent or patent application for which priority or benefit is claimed); (c) any substitution, divisional,
continuation, and continuation-in-part (but only to the extent a claim in the 

  
 4 

	 	 
continuation-in-part is directed to subject matter contained in a patent or patent application described in clause
(a) or (b)); (d) any patent issuing from any patent or patent application described in clause (a), (b), or (c); (e) any reissue, renewal, reexamination, or extension of any patent or patent application described in clause (a), (b), (c), or (d);
and (f) any foreign counterpart or equivalent of any patent or patent application described in clause (a), (b), (c), (d), or (e). 

  

	2.28	 “Patent Validity Challenge”: Any action which challenges the validity or
enforceability of, or otherwise opposes, any of the claims of the Patent Rights (including without limitation filing an action under the Declaratory Judgment Act, 28 U.S.C. § 2201(a)). 

 

	2.29	 “Person”: means an individual, sole proprietorship, partnership, limited
partnership, limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, incorporated association, joint venture or similar entity or organization, including a government or political
subdivision, department or agency of a government. 

  

	2.30	 “Phase 1 Clinical Trial”: A Clinical Trial, regardless of the terminology used to
identify it, that is intended to initially evaluate the safety and/or pharmacological effect of an investigational new drug in subjects, or that would otherwise satisfy the requirements of 21 C.F.R. § 312.21(a), or its foreign equivalent, and
is accepted as such by regulatory agencies. 

  

	2.31	 “Phase 2 Clinical Trial”: A Clinical Trial, regardless of the terminology used to
identify it, for which a primary endpoint is a preliminary determination of efficacy of an investigational new drug for a particular indication in patients with the disease and to determine the common short-term side effects and risks associated
with the drug, or that would otherwise satisfy the requirements of 21 C.F.R. § 312.21(b), or its foreign equivalent, and is accepted as such by regulatory agencies. 

 

	2.32	 “Phase 3 Clinical Trial”: A Clinical Trial, regardless of the terminology used to
identify it, that is performed after preliminary evidence suggesting effectiveness of the drug has been obtained and that is intended to gather confirmatory data supporting effectiveness and safety needed to evaluate the overall benefit-risk
relationship of the drug, to provide an adequate basis for physician labeling, or that would otherwise satisfy the requirements of 21 C.F.R. § 312.21(c), or its foreign equivalent, and is accepted as such by regulatory agencies.

  

	2.33	 “Research Tool”: Any product that is used for research purposes only and is not to
be used in clinical trials for any treatment or diagnostic purposes involving human subjects or animals. 

  

	2.34	 “Research Tool Field”: The use of Patent Rights for the development and
commercialization of Research Tools in the Licensed Fields. 

  

	2.35	 “Sale,” “Sell,” “Resell,” or any
correlative term: The sale, transfer, or other disposition of a Licensed Product in return for any type of consideration. Licensed Products shall be considered sold when shipped. 

  
 5 

	2.36	 “Sublicense”: Present, future, or contingent transfer of any license, right, option,
first right to negotiate or other right granted under the Patent Rights licensed under this Agreement. Sublicense includes, without limitation, strategic partnerships, marketing collaborations, and distribution agreements. 

 

	2.37	 “Sublicensee”: A Person (other than an Affiliate of a Company) which receives a
Sublicense under Article 4. 

  

	2.38	 “Sublicense Income”: As defined in Section 6.7.

  

	2.39	 “Term”: As defined in Section 12.1. 

 

	2.40	 “Therapeutic Field”: means, and is limited to, the practice of the Patent Rights for
any and all human therapeutic indications. 

  

	2.41	 “Third Party”: Any Person other than Georgetown, or Company. 

ARTICLE 3. GRANT OF LICENSE 
  

	3.1	 Subject to the provisions of this Agreement, Georgetown hereby grants to Company, and Company hereby
accepts: 

  

	 	3.1.1	 An exclusive, royalty bearing, transferrable license, with the right to Sublicense under the Patent Rights
to make, have made, use, Sell, offer to Sell, import, and export Licensed Products and otherwise practice those Patent Rights in any manner in the Licensed Territory within the Therapeutic Field and the Diagnostic Field during the Term; and

  

	 	3.1.2	 A non-exclusive, royalty bearing, sublicensable, license under the
Patent Rights, to make, have made, use, Sell, offer to Sell, and import Licensed Products and otherwise practice those Patent Rights in any manner in the Licensed Territory, within the Research Tool Field during the Term. 

 

	3.2	 The granting and exercise of the license set forth in this Agreement is subject to the following conditions:

  

	 	3.2.1	 The granting and exercise of the license set forth in this Agreement is subject to the terms and
requirements of Georgetown’s “Georgetown University Intellectual Property Policy”, Public Law 96-517, Public Law 98-620, and Georgetown’s obligations
under agreements with sponsors of research. Any right granted in this Agreement greater than that permitted under Public Law 96-517 or Public Law 98-620 shall be subject
to modification as may be required to conform to the provisions of those statutes. The terms “Public Law 96-517” and “Public Law 98-620” include all
amendments to those statutes. 

  

	 	3.2.2	 Georgetown reserves for itself and for other non-profit research
institutions and universities, the right for Non-Commercial Use to make, and use the subject matter described and claimed in Patent Rights, and to grant to others
non-exclusive 

  
 6 

	 	 
licenses to make and use, for Non-Commercial Use the subject matter described and claimed in Patent Rights. 

 

	 	3.2.3	 The Parties acknowledge that Georgetown has granted non-exclusive
licenses for the Research Tool Field to Third Parties before the Effective Date. 

  

	3.3	 No additional rights: Nothing in this Agreement shall be construed to confer upon Company any rights by
implication, estoppel, or otherwise, to any technology or patent rights of Georgetown or any other entity other than the Patent Rights, regardless of whether such technology or patent rights shall be dominant or subordinate to any Patent Rights.

  

	3.4	 Validity Challenges to the Patent Rights. 

In no less than ten (10) Business Days, prior to taking or causing any Patent Validity Challenge, Company, Affiliate or
Sublicensee shall notify in writing of such intent to Georgetown and may at its sole discretion first file a Request for Reexamination of the Patent Rights in the USPTO, and await a final determination of said Request for Reexamination by the
tribunal of last resort having jurisdiction. In the event that (i) Company or any of its Affiliates brings a Patent Validity Challenge, or (ii) Company or any of its Affiliates assists another party in bringing a Patent Validity Challenge
(except as required under a court order or subpoena), and (iii) Georgetown does not choose to exercise its rights to terminate this Agreement pursuant to Section 12.2.5, then the running royalties due hereunder with respect to Patent
Rights being challenged shall be doubled (“Excess Royalty Payment”) for the remainder of the term of the Agreement. 
 ARTICLE
4. SUBLICENSES 
  

	4.1	 Company may grant Sublicenses, which may be further sublicensed one time by the Sublicensee, to some or all
of its rights under this Agreement, provided that there is no uncured material default or breach of this Agreement by the Company at the time of the grant, and the grant complies with the terms and conditions of this Article. Company shall be and
remain responsible for the performance by each Sublicensee of the Company’s obligations under this Agreement. Any purported Sublicense entered into by Company in violation of the requirements of this Article 4 or another provision of
this Agreement shall constitute a material breach of this Agreement, and shall be null and void and without effect. 

  

	4.2	 Company shall provide Georgetown written notice as to the identity of any proposed Sublicensee and to
Company’s knowledge whether the Sublicensee is involved in a legal proceeding against Georgetown. If the proposed Sublicensee is involved in a legal proceeding against Georgetown, Company shall not enter into any Sublicense without the prior
written approval of Georgetown. Georgetown shall respond to Company’s notice regarding identity and legal proceeding against proposed Sublicensee within fifteen (15) business days. Company shall promptly provide to Georgetown a true and
complete copy of each executed Sublicense and amendments thereto within thirty (30) days of the date of execution of such Sublicense and amendment. Any documents provided under this Section shall be subject to Article 8
(Confidentiality). 

  
 7 

	4.3	 Georgetown and Company mutually agree on the importance of ensuring that Licensed Products are made
available to people in all economic strata around the world. On a country-by country and case-by-case basis in countries in which
there is at least one valid claim and where the Company has already made its First Commercial Sale of a Licensed Product in a Licensed Territory, Company shall take commercially reasonable measures to Sell and/or offer for Sale Licensed Product to
public sector entities in Developing Territories, provided that in each case, such public sector entity has put into place adequate measures to ensure that the Licensed Product will only be used in the country in the Developing Territory which such
public sector entity is located and will not be used to diagnose, test, analyze, review, or produce data, or be distributed outside to, directly or indirectly, any person or entity outside of the such country in the Developing Territory. Company or
Sublicensee agrees that if it directly sells or distributes such Licensed Products into the Developing Territory then such Licensed Products will be sold at a price the profit margin for which shall be in accordance with the generally accepted
accounting principles, commonly abbreviated as GAAP. Company or Sublicensee shall not be required to distribute to any Developing Territory if such distribution would violate any law, rule, regulation, treaty or order or to the extent that such
Developing Territory materially restricts or prohibits the termination of any Sublicensee or distributor in such Developing Territory. 

  

	4.4	 Company shall be responsible to ascertain, compute, audit, and collect all consideration that is payable by
the Sublicensee and to enforce the performance by the Sublicensee of its obligations under the Sublicense. Each Sublicense granted by Company pursuant to this Agreement shall include an audit right by Georgetown of Sublicensee of the same scope as
provided in Article 10. 

  

	4.5	 Any Sublicense granted by Company shall provide for the termination of the Sublicense, or the conversion to
a license directly between the Sublicensee and Georgetown, at the option of the Sublicensee, upon the termination of this Agreement under Article 12. This conversion is subject to Georgetown approval and contingent upon acceptance by the
Sublicensee of the remaining provisions of this Agreement. 

  

	4.6	 Company agrees to contractually obligate each Sublicensee to comply with all applicable terms of this
Agreement and to include a requirement that the Sublicensee use its commercially reasonable efforts to bring the subject matter of the Sublicense into commercial use as quickly as is reasonably possible. 

 

	4.7	 Each Sublicense granted by Company shall: (i) not contain any provision which would result in any loss,
damage to, or diminution in the value or integrity of the Patent Rights or other rights licensed under this Agreement; and (ii) prohibit further sublicensing by Sublicensee without the prior written consent of Georgetown (which consent shall
not be unreasonably withheld). 

  
 8 

 ARTICLE 5. DILIGENCE REQUIREMENTS 

 

	5.1	 A true and complete copy of the initial Development Plan is attached hereto as Schedule B. The Company shall
provide Georgetown a more detailed version of the Development Plan within six (6) months of Effective Date of this Agreement. From time to time, as research and development results from work under the Development Plan and/or the business
environment dictates, the Company may modify the Development Plan. If and when the Company makes a change to the Development Plan that would materially affect the Milestones set forth in Schedule C, it will so notify Georgetown no less than thirty
(30) days before any Milestone due date would be missed, and the Parties will amend this Agreement to the extent reasonably necessary to conform to any approved modifications of the Development Plan, including without limitation the Milestones
set forth on Schedule C and the Milestone payments set forth on Schedule D. Such amendments shall be negotiated reasonably and in good faith by the Parties. 

  

	5.2	 Upon request by Georgetown during the first two years following the Effective Date, Company’s
representatives shall meet with representatives of Georgetown’s Office of Technology Commercialization either in person or via telephone calls or videoconferencing no less often than quarterly to advise on progress of the Development Plan.

  

	5.3	 Company shall use Commercially Reasonable Efforts to bring one or more Licensed Products into the commercial
market as soon as practicable in accordance with the Development Plan, as it may be duly amended pursuant to Section 5.4, but in any case, the first Licensed Product for Therapeutic Field shall be commercially available by
March 1, 2026 in accordance with the milestone set forth on Schedule C. For purpose of the foregoing sentence, the efforts of a Sublicensee (or of Sublicensee’s Affiliates) shall be considered the efforts of Company. After the First
Commercial Sale, Company shall use commercially reasonable efforts to keep Licensed Products available to the public. 

  

	5.4	 Subject to the cure period in Article 12.2.2, and Georgetown’s willingness to amend this Agreement,
Company’s or Sublicensee’s failure to perform in accordance with Section 5.3 or to fulfill on a timely basis any one of the Milestones set forth on Schedule C hereof shall be grounds for Georgetown to terminate
this Agreement and upon termination all rights and interest to Patent Rights shall revert to Georgetown. 

 ARTICLE 6.
FINANCIAL PROVISIONS 
 The Parties acknowledge and agree that payment obligations set forth in this Article 6 were established
for the convenience of the Parties after due consideration was given to alternative payment structures. These payment obligations have been agreed by the Parties to be the most appropriate and convenient means of valuing Company’s right to
practice the Patent Rights under this Agreement and to receive the benefit of Georgetown entering into this Agreement. In consideration of the license and rights granted hereunder: 

  
 9 

	6.1	 License Maintenance Fee. Company shall pay non-refundable
license maintenance fees to Georgetown of $10,000 annually beginning on the anniversary of the Effective Date following the year in which the Back Patent Expenses are paid in full and $10,000 on every subsequent anniversary of the Effective Date
during the Term, through and including the calendar year in which the First Commercial Sale occurs. The license maintenance fees are not creditable against any other fee, royalty, or payment. Notwithstanding the foregoing, in the event that a
Sublicense is granted before the Back Patent Expenses are paid in full, Company shall pay any remainder of the Back Patent Expenses within thirty (30) days of the Sublicense and begin payments of said
non-refundable annual License Maintenance Fees to Georgetown from the year such Sublicense occurs on the anniversary of the Effective Date of this Agreement. 

 

	6.2	 Milestone Payments. Company shall pay to Georgetown the milestone payments as set forth on Schedule D
within thirty (30) days from the date such Milestone was achieved (or within thirty (30) days of receipt of notice from a Sublicensee of achieving the Milestone). The milestone payments are not creditable against any other fee, royalty, or
payment, except as provided for in Section 6.7.3. In the event that Company or Sublicensee Development Plan changes such that Company or a Sublicensee decides intentionally not to perform any milestone set forth on Schedule
C, Company shall remain responsible for the Milestone Payment associated with such milestone as set forth on Schedule D and shall pay Georgetown the milestone payment at the time such milestone should have been achieved. Notwithstanding the above,
if an investigational new drug fails for a therapeutic indication at any phase of development including any phase of Clinical Trial, Company shall not be responsible for any additional Milestone Payment with respect to such therapeutic indication.
In addition, if no patent is finally granted in any jurisdiction in the Patent Rights such that the decision for such non-allowance of Patent Rights is unappealable or unappealed with the time allowed for
appeal, Company shall not be responsible for any outstanding Milestone Payments under Schedule D. 

  

	6.3	 Minimum Annual Royalty. Company shall pay Georgetown guaranteed minimum annual royalties of $15,000
per year, beginning with the calendar year following the First Commercial Sale. Company shall pay the minimum annual royalty due with respect to a calendar year by the next February 1 following that year. Minimum annual royalties for any year
shall be creditable against Earned Royalty payable under Section 6.4 for that year. 

  

	6.4	 Earned Royalties. 

 

	 	6.4.1	 Sales of Licensed Products. Company shall pay to Georgetown the following royalties on Net Revenues
(the “Earned Royalty) as follows: 

  

	 	a.	 With respect to combined Sales of all Therapeutic, Diagnostic or Research Tool Licensed Product, the higher
of either: [***] of Net Revenues received by Company for its Sales of Licensed Products or [***] of royalties received by Company from Sublicensee annually, if Sublicensee Sells Licensed Products. 

  
 10 

	 	b.	 For the purpose of calculating royalties due hereunder, in the event that a Licensed Product is sold as a
Combination Product during a particular calendar quarter, Net Revenues from Sales of such Combination Product shall be calculated by multiplying the net revenues of the Combination Product by the fraction ‘A/(A+B)’, where ‘A’ is
the average per unit sales price for such calendar quarter of the Licensed Product sold separately in the country of sale, and ‘B’ is the average per unit sales price for such calendar quarter of the other product(s) sold separately in the
country of sale. If no separate sales are made of the Licensed Product and/or the other product(s) in the country of sale, separate sale prices in commensurate countries may be used instead. In the event that no separate sales are made of the
Licensed Product and/or the other product(s), for the purpose of determining royalty payments under this Agreement, Net Revenues from Sales of a Combination Product shall be calculated using a method agreed upon in good faith by the parties. In no
event, shall the royalties payable to Georgetown on Licensed Product sold as Combination Product be less than royalties payable to Georgetown on Licensed Product sold as stand-alone. 

 

	6.5	 Expiration of Royalties. Royalties under Section 6.4.1 shall be payable on
a country-by-country and Licensed Product-by-Licensed Product basis commencing with the
First Commercial Sale until the later of: (i) the expiration of the last to expire of the claims of the Patent Rights covering the manufacture, use or sale of a Licensed Product in that country (the “Claim Expiration Date”), or
(ii) the date of expiration of any regulatory or marketing exclusivity of a Licensed Product. 

  

	 	6.5.1	 Royalty if no patent: If a patent is not issued or all issued patents are finally determined by a
court of competent jurisdiction to be invalid or unenforceable, and the Company and/or Sublicensee desire nevertheless to continue to commercialize the Licensed Products that incorporates or uses know-how
covered in Invention and/or the Patent Rights, Company and/or Sublicensee shall pay to Georgetown a reduced royalty of [***] on annual Net Revenues for five (5) years after First Commercial Sale of Licensed Products or ten (10) years if
such failure is due to interference unless the Parties agree otherwise. However, such royalty obligation shall terminate for every country once a competitor with a product that would have been protected by Patent Rights or incorporates or uses know-how covered in Invention and/or Patent Rights enters the market in the same therapeutic indication of such country. 

  

	6.6	 Sales to Company Affiliates or Sublicensee. Company shall not be required to pay royalties on Sales
of Licensed Products to a Company’s Affiliate or Sublicensee, if those Sales are for purposes of resale. However, if the Company Affiliate or Sublicensee is an end user of a Licensed Product, such Sales from Company to the Company Affiliate or
Sublicensee shall be included in Net Revenues of the Licensed Product for the purpose of calculating royalties, at the weighted average selling price charged by Company or Company Affiliates to Third Parties for the Licensed Product during that same
period and in the relevant country. 

  
 11 

	6.7	 Sublicense Income. 

 

	 	6.7.1	 “Sublicense Income” means consideration in any form receivable from a Sublicensee for use of
Patent Rights or otherwise in consideration of its rights as a Sublicensee, including without limitation up-front fees, license signing fees, license maintenance fees, milestone payments, success fees, and any
other consideration paid by or on behalf of the Sublicensee. “Sublicense Income” shall not include any payment or consideration received by Company from a Sublicensee in consideration for anything other than a Sublicense, including without
limitation: any royalties based on Sales of Licensed Product by any Sublicensee; amounts paid for equity of Company by a Sublicensee (up to fair market value); loans or extensions of credit by a Sublicensee to Company; consideration for a license
granted under technology other than the Patent Rights; or consideration designated to defray, reimburse, or fund expenses of research and development rendered by or to be performed in connection with the development of a Licensed Product.

  

	 	6.7.2	 As to each Sublicense granted by Company, Company shall pay Georgetown a [***] of Sublicense Income.

  

	 	6.7.3	 The amount of any Milestone Payment paid to Georgetown by Company pursuant to
Section 6.2 may be credited to any Sublicense Income due to Georgetown if it is for the same milestone event. 

  

	 	6.7.4	 Miscellaneous 

  

	 	a.	 Any cash payment due to Georgetown under this Section 6.7 shall be paid within
sixty (60) days of the end of each calendar quarter during which Sublicense Income is received. 

  

	 	b.	 Georgetown shall have the option, in its sole discretion, to have any
non-cash Sublicense Income (including, without limitation, securities) either: (1) paid in kind by Company transferring and delivering to Georgetown the required percentage of Sublicense Income within
sixty (60) days of Company receiving the Sublicense Income; or (2) paid by the Company, if Company agrees, in the cash equivalent of the fair market value of the Sublicense Income. Sublicense Income shall be valued at the greatest of the
fair market value determined as of: (1) the effective date of the Sublicense; or (2) the date of transfer of the securities to the Company. 

  

	 	c.	 Notwithstanding Section 6.7.4 (b), if Company cannot transfer and deliver the Sublicense Income without
violating an applicable law, regulation, or other legal requirement, or the terms of any agreement or other arrangement with a Third Party (including the Sublicensee), then Company shall transfer and deliver the share of the Sublicense Income to
Georgetown as soon as the transfer is permitted. In that event, Sublicense Income shall be valued at the fair market value determined as of the date of payment by Company to Georgetown. 

  
 12 

	 	d.	 As to any other form of Sublicense Income that cannot be valued as contemplated by this
Section 6.7.4, the Parties shall negotiate in good faith to arrive at a mutually agreeable solution under which Georgetown shall receive its required share. 

ARTICLE 7. PATENT PROSECUTION 
  

	7.1	 As of the Effective Date, Georgetown has filed patent applications as set forth in Schedule A (Patent
Rights). 

  

	7.2	 Within thirty (30) days following the Effective Date (“Transfer Date”), Georgetown shall
transfer to Company, and Company shall take, the responsibility for preparing, filing, prosecuting (including, without limitation, defense of the applications in an interference proceeding, reexamination, or litigation), and maintaining the Patent
Rights in Georgetown’s name. Company will keep Georgetown fully informed, at Company’s expense, of all developments with respect to Patent Rights and shall provide to Georgetown copies of all official patent office actions within a week of
Company’s receipt of same. With regard to the filing of any official patent-related documents, such as without limitation, office action responses, Company shall provide copies of such documents no fewer than three (3) weeks before the
filing by Company of any such official papers. Company shall consider Georgetown’s comments and advice on all actions. Company shall not seek to narrow the scope of or irrevocably abandon a pending application or an issued patent without
obtaining Georgetown’s consent. Company shall confer with Georgetown to develop a strategy for the filing, prosecution and maintenance of Patent Rights and shall consider all advice and guidance provided by Georgetown. If Georgetown disagrees
with Company’s strategy, Georgetown may request the opinion of an independent patent counsel, and Company will permit said counsel to confer with Company’s patent counsel and shall take into consideration advice and comments of said
counsel. Company and Georgetown shall equally split the legal cost of such independent opinion. 

  

	7.3	 Prior to the Transfer Date: a) Georgetown shall provide the name and contact information of its designated
patent prosecution representative to Company; and b) Company and Georgetown shall execute necessary documents for transfer of patent prosecution from Georgetown to Company. 

 

	7.4	 Georgetown and Company have mutually identified patent counsel to be Ned Israelsen at Knobbe, Martens,
Olson, and Bear, LLP. Company shall not subsequently change patent counsel without prior identification of a new patent counsel that is mutually agreeable to Georgetown and Company. 

 

	7.5	 If Company determines not to file, prosecute, or maintain, or to abandon or donate to the public, any patent
application or patent included in the Patent Rights in the Licensed Territory, or not to pursue any available patent extension with respect to any such patent, Company shall provide Georgetown forty-five (45) days written notice of such
determination and provide Georgetown any necessary assistance to take over the applicable filing, prosecution, maintenance, or pursuit of extension with respect to the relevant patent application or patent in the name of Georgetown. Company will
cooperate fully with 

  
 13 

	 	 
Georgetown to effect the transfer of responsibility for said patents or patent applications prosecution or maintenance to Georgetown’s patent counsel. Company will remain responsible for
patent expenses during the forty-five (45) day period. With respect to any such patents or patent applications, once the transfer is effected, Company will no longer have any rights to said patents or patent applications. 

 

	7.6	 Company shall comply with the requirement to include within the specification of any new patent application
and any patent issuing thereon within the scope of Patent Rights, a statement specifying that the invention was made with Government support and that the Government has certain rights in the invention. 

 

	7.7	 Company shall be liable for any loss, as a whole or in part, of the Patent Rights, including, without
limitation, if the loss results from acts or omissions of outside patent counsel. In such event, Georgetown shall be free to pursue and all legal remedies. 

  

	7.8	 If Company fails to comply with the obligations under this Article, or is grossly negligent in its
prosecution or maintenance of the protection of the Patent Rights in the United States and in foreign countries, Georgetown shall be free to take over the rights granted to the Company in this Article 7.2 and to file or continue prosecution or
maintain any applications, and to maintain any protection issuing thereon in the United States and in any foreign country. Company shall be responsible for all the patent expenses incurred by Georgetown thereon for the Term of the Agreement.

  

	7.9	 Patent Expenses. 

 

	 	7.9.1	 Patent Expenses Incurred Prior to the Effective Date. Company shall pay Georgetown all documented
patent expenses incurred prior to the Effective date (“Back Patent Expenses”) except those incurred with regard to the issuance of the European patent for the peptides and currently abandoned, under the following schedule:
(i) Ten thousand dollars ($10,000) on the first anniversary of the Effective Date; and(ii) Ten thousand dollars ($10,000) on every anniversary of the Effective Date thereafter until Back Patent Expenses are reimbursed in full to Georgetown.

  

	 	 	 Notwithstanding the foregoing, if a Sublicense is executed before the Company has reimbursed Georgetown Back
Patent Expenses, 100% of the unreimbursed Back Patent Expenses shall become payable to Georgetown by Company within thirty (30) days of the effective date of a Sublicense agreement. 

 

	 	7.9.2	 Patent Expenses Incurred from the Effective Date Forward (“Future Patent
Expenses”). For all Future Patent Expenses, Company shall instruct its patent counsel to send invoices directly to Company with copies to Georgetown and Company shall pay each undisputed invoice in full to the patent counsel.
Georgetown is not responsible for any patent costs incurred by Company. Subject to Section 7.8, Georgetown may takeover Patent Expenses and prosecution of the Patent Rights. In such case, if undisputed outstanding expenses are not paid within
sixty (60) days from notification by Georgetown that Company is out of compliance with Patent Expense payments, Georgetown may terminate this Agreement. For the 

  
 14 

	 	 
sake of clarity, it should be noted that this is an exception to the Failure to Pay Section 12.2.1. 

 

	 	7.9.3	 The amount of Back Patent Expenses on the day before the Effective Date is $97,091.80.

 ARTICLE 8. CONFIDENTIALITY 
  

	8.1	 Confidential Information: All Confidential Information disclosed by one Party to the other Party
hereunder including this Agreement, the terms and conditions of the Agreement, Progress Reports, and Royalty Reports, shall be maintained in confidence by the receiving Party and shall not be disclosed to any Third Party or used for any purpose
without the prior written consent of the disclosing Party for a period of two (2) years from the termination or expiration of this Agreement or five (5) years from the date of disclosure of such Confidential Information,
whichever is longer, except to the extent that such Confidential Information is: 

  

	 	8.1.1	 now in the public domain or subsequently enters into the public domain through no fault of the receiving
Party; 

  

	 	8.1.2	 known by the receiving Party at the time of its receipt and not through a prior disclosure by the disclosing
Party as documented by the receiving Party’s written records; 

  

	 	8.1.3	 developed by or for the receiving Party independently of Confidential Information received from the
disclosing Party as documented by the receiving Party’s written records; 

  

	 	8.1.4	 subsequently disclosed to the receiving Party by a Third Party who may lawfully do so and is not under an
obligation of confidentiality to the disclosing Party; 

  

	 	8.1.5	 disclosed to governmental or other regulatory agencies in order to obtain patents or to gain or maintain
approval to conduct clinical trials or to market Licensed Products, but such disclosure may be only to the extent reasonably necessary to obtain patents or authorizations; and/or deemed necessary by Company to be disclosed to Sublicensees, agents,
consultants, and/or other third parties for the development and/or commercialization of Licensed Products and/or in connection with a licensing transaction and/or a permitted assignment under this Agreement, and/or loan, financing, or investment
and/or acquisition, merger, consolidation, or similar transaction (or for such entities to determine their interest in performing such activities) in each case on the condition that any third parties to whom such disclosures are made agree to be
bound by written confidentiality and non-use obligations contained in this Agreement. 

  

	8.2	 If a Party is required by judicial or administrative process to disclose Confidential Information that is
subject to the non-disclosure provisions of this Article 8 (Confidentiality), such Party shall promptly inform the other Party of the disclosure that is being sought in order to provide the other Party an
opportunity to challenge or limit the 

  
 15 

	 	 
disclosure obligations. Confidential Information that is disclosed by judicial or administrative process shall remain otherwise subject to the confidentiality and
non-use provisions hereof, and the disclosing Party, pursuant to law or court order, shall take all steps reasonably necessary, including without limitation obtaining an order of confidentiality, to ensure the
continued confidential treatment of such Confidential Information. 

  

	8.3	 Legal and Business Disclosures Either Party may disclose the terms of this Agreement to the extent
required, in the reasonable opinion of such Party’s legal counsel, to comply with applicable laws, including without limitation the rules and regulations promulgated by the SEC. Notwithstanding the foregoing, before disclosing this Agreement or
any of the terms hereof pursuant to this Section 8.3, the Parties will consult with one another on the terms of this Agreement to be redacted in making any such disclosure. The Company may disclose the financial and
business terms of this Agreement to current or potential investors or acquirers of all or substantially all assets covered by this Agreement so long as the information is marked “Confidential” or “Proprietary” upon disclosure.
The Company agrees not to disclose Confidential Information related to Patent Rights unless recipient is under confidentiality such that the recipient may not disclose such Confidential Information. If a Party discloses this Agreement or any of the
terms hereof in accordance with this Section 8.3, such Party agrees, at its own expense, to seek confidential treatment of portions of this Agreement or such terms as may be reasonably requested by the other Party. Each
Party shall follow the notification requirements as stated in Section 8.2. 

 ARTICLE 9. REPORTING 

 

	9.1	 Progress Report. Company shall provide true and accurate semi-annual written reports for the first
three (3) years after the Effective Date, and annual written reports thereafter, to Georgetown on progress of Development Plan. The reports shall describe progress on research and development, regulatory approvals, manufacturing, Sublicensing,
marketing, and Sales, if applicable, during the most recent six (6) or twelve (12)-month period ending June 30 and December 31 and plans for the forthcoming year (“Progress Report”). The reports shall be due within thirty
(30) days following the expiration of each reporting period. Any information or reports provided under this Section shall be Company’s Confidential Information subject to Article 8 (Confidentiality). 

 

	9.2	 Company shall report to Georgetown the date of First Commercial Sale of Licensed Product in the United
States of America, Japan, and Europe within thirty (30) days of occurrence (or within thirty (30) days of receipt of notice from a Sublicensee of First Commercial Sale). 

 

	9.3	 Royalty Report. 

 

	 	9.3.1	 No later than sixty (60) days after each calendar half year ending June 30 and no later than
ninety (90) days after each calendar half year ending December 31, Company shall provide Georgetown with a written report, certified as correct by an officer of Company, setting forth for such half year at least the following information
(“Royalty Report”): 

  
 16 

	 	a.	 the number of Licensed Products sold by Company, and Sublicensees; 

 

	 	b.	 invoiced amounts for such Licensed Products; 

 

	 	c.	 deductions applied to determine the Net Revenues thereof; 

 

	 	d.	 the amount of Sublicense Income received by Company; 

 

	 	e.	 a detailed listing of all deductions from royalties; and 

 

	 	f.	 the amount of royalty due thereon, or, if no royalties are due to Georgetown for such reporting period, the
statement that no royalties are due. 

  

	 	9.3.2	 Upon reasonable request by Georgetown, Company shall provide to Georgetown within thirty (30) days of
such request, Royalty Report that will have aforesaid information on a country by country basis. 

  

	 	9.3.3	 Company shall pay Georgetown with each such Royalty Report the amount of royalty due for such half
year. 

  

	 	9.3.4	 All payments due hereunder shall be deemed received when funds are wired and credited to Georgetown’s
bank account and when received by Georgetown. Conversion of foreign currency to U.S. dollars shall be made at the conversion rate existing in the United States on the last working day of each royalty period (as reported in The New York Times or The
Wall Street Journal). No transfer, exchange, collection, or other charges shall be deducted from such payments. 

  

	 	9.3.5	 All Royalty Reports shall be maintained in confidence by Georgetown except as required by law;
however, Georgetown may include in its internal reports annual amounts of royalties paid. 

  

	 	9.3.6	 Late payments shall be subject to a charge of one-and-one-half percent (1.5%) per month, or
two-hundred-and-fifty dollars ($250) per month, whichever is greater. 

 

	 	9.3.7	 In the event of a Liquidation Event or change of corporate name, Company shall notify Georgetown in writing
within thirty (30) days of such event and the Parties shall duly amend this Agreement. 

  

	 	9.3.8	 In the event Company cannot, after good faith negotiation with Sublicensee, enter into a Sublicense that
provides for semi-annual royalty payment and royalty reporting requirement pursuant to Sections 9.3.1 and 9.3.2 (but in any event Company will not agree to a Sublicense that provides for royalty payments and reporting requirements on a
less frequently than annual basis), Company shall notify Georgetown in writing and the Parties will amend the Agreement to require Royalty reports and make royalty payments annually from the date of such notification. 

  
 17 

 ARTICLE 10. RECORD KEEPING 

 

	10.1	 Company shall maintain and shall require its Affiliates and Sublicensees to maintain accurate records
(together with supporting documentation) of Licensed Products made, used, or sold under this Agreement, appropriate to determine the amount of royalties due to Georgetown hereunder (“Accounting Records”). 

 

	10.2	 Upon written notification of at least thirty (30) days but not more than once per twelve month period,
Accounting Records shall be made available during normal business hours for examination by an auditor selected by Georgetown (“Auditor”), who has entered into a confidentiality agreement with Company or a Sublicensee,
for the sole purpose of verifying reports and payments due hereunder. In conducting examinations pursuant to this Article 10 (Record Keeping), Auditor shall have access to all records that Georgetown reasonably believes relevant to the
calculation of royalties due under Article 6 (Financial Provisions). 

  

	10.3	 During the term of this Agreement and for five (5) years after its expiration or termination, Company
and Sublicensee shall keep complete, true, and accurate records containing all the particulars that may be necessary to determine royalties payable to Georgetown under this Agreement. The records shall be subject to inspection during regular
business hours upon reasonable advance written notice to Company by an independent auditor appointed by Georgetown for this purpose and reasonably acceptable to Company. Auditor shall report to Georgetown only the amount of royalties, fees,
or other payable under this Agreement. 

  

	10.4	 Auditor shall not disclose to Georgetown any information other than information relating to the
accuracy of Accounting Records and payments made hereunder. 

  

	10.5	 Such examination by Auditor shall be at Georgetown’s expense, provided, however, that if such
examination shows an underreporting or underpayment in excess of five percent (5%) for any twelve (12)-month period, then Company or the Sublicensee shall pay the cost of such examination as well as any additional sum that would have been payable to
Georgetown had the Company or Sublicensee reported correctly, plus interest on said sum at the rate of one-and-one-half per cent
(1.5%) per month. Georgetown will use reasonable efforts to conduct the audit and notify the Company of any underpayment within ninety days from the start of the audit. In the event Georgetown takes longer than 90 days to notify Company of any
underpayment, any interest owed for the time period between ninety days and date of notification will be forfeited by Georgetown. 

ARTICLE 11. PATENT INFRINGEMENT 
  

	11.1	 Notification. Each Party shall promptly notify the other if it has knowledge of or reasonable grounds
to suspect any Infringement, and shall promptly provide any available evidence of that Infringement to the other Party. 

  
 18 

	11.2	 Right to Sue Infringers. So long as Company remains the exclusive licensee of the Patent Rights in
the Licensed Field in the Licensed Territory and is not in default hereunder, to the extent permitted by law, Company shall have the first right, but not the obligation, to bring suit for any Infringement in its own name, at its own expense, and on
its own behalf. 

  

	 	11.2.1	 If a declaratory judgment action alleging invalidity or
non-infringement of any of the Patent Rights is brought against Company or raised by way of counterclaim or affirmative defense in an Infringement suit brought by Company under Section 11.2.1, Georgetown
shall have the first right, but not the obligation, to defend the suit in its own name, at its own expense, and on its own behalf. 

  

	11.3	 Expenses. In any action under Section 11.2.1, Company shall be responsible
for all expenses related thereto, including without limitation costs, fees, expert witness fees, attorney fees, and disbursements, including without limitation all expenses incurred by Georgetown. 

 

	11.4	 Recoveries. 

 

	 	11.4.1	 Any recovery by Company of compensatory or actual damages (including, without limitation, damages awarded to
compensate for lost profits or lost sales due to Infringing sales, price erosion due to Infringing sales, diminution of value of Licensed Products, or lost sales of unpatented related products) shall be applied as follows: (i) each Party shall
first be reimbursed for any expenses incurred in the action (including attorney’s fees and the amount of any royalty or other payments withheld from Georgetown as described in Section 11.3) (“Litigation
Expenses”); (ii) any remaining compensatory or actual damages following the deduction of Litigation Expenses, shall be awarded to the Company subject to payment of royalties thereon to GEORGETOWN pursuant to Sections 2.23 and
6.4. 

  

	 	11.4.2	 Any recovery by Company of punitive, special, incidental, consequential, indirect, or other non-compensatory damages (including without limitation treble damages for willful infringement under §284 of the Patent Act, or attorney’s fees under §285 thereof) shall be deemed to reflect non-earned royalty income, and shall be distributed as follows: 

  

	 	a.	 First, in shares to Company and Georgetown in an amount necessary: (1) to reimburse Company for
Litigation Expenses which were not credited against royalties under Section 11.3; and (2) to reimburse Georgetown for Litigation Expenses which were credited against royalties under
Section 11.3; and 

  

	 	b.	 Second, Company shall pay Georgetown fifteen percent (15%) of the net recovery after payment of expenses in
11.4.2. a. 

  

	 	11.4.3	 In the event, the Parties agree to settle the Infringement suit, the settlement amount shall be distributed
pursuant to Section 11.4.2. 

  
 19 

	11.5	 Georgetown’s Rights to Sue or Intervene. 

 

	 	11.5.1	 If Company fails to bring suit under Section 11.2 by twenty (20) days prior
to any required filing deadline (but not later than two (2) months after receiving notice or otherwise having knowledge of Infringement), Georgetown shall have the right, but not the obligation, to take any action it deems appropriate,
including without limitation, initiating a suit or granting a license to the alleged infringer. If Company fails to timely notify Georgetown of its intent to respond in opposition to a legal action under Section 11.2 within
ten (10) days after Company’s receipt of notice of the filing of the action, or if Company notifies Georgetown that it does not intend to oppose the action, Georgetown shall have the right, but not the obligation, to respond to the action
at its own expense. In addition, Georgetown shall have a continuing right to intervene in any action described in Section 11.2.1. 

  

	 	11.5.2	 Declaratory Judgment Actions. In the event that a Patent Validity Challenge is brought against
Georgetown or Company by a Third Party, the Company, at its option, shall have the right within twenty (20) days after commencement of such action to take over the sole defense of the action at its own expense. If Company does not exercise this
right after ten (10) days from receipt of any filing or complaint, Georgetown may take over the sole defense of the action at Georgetown’s sole expense. If Company assumes such defense, it shall diligently oppose such Patent Validity
Challenge and cooperate with Georgetown in such defense. 

  

	 	11.5.3	 Notwithstanding anything in this Agreement to the contrary, if Georgetown files suit, responds to a legal
action, or otherwise intervenes pursuant to Section 11.5.1, Georgetown shall be responsible for its own expenses, including litigation expenses, and shall be entitled to all recoveries which it obtains for itself in
connection therewith. 

  

	 	11.5.4	 Notwithstanding anything in this Agreement to the contrary, if Georgetown files suit, responds to a legal
action, or otherwise intervenes pursuant to Section 11.5.1, Georgetown shall be entitled to settle any action on terms to be established by Georgetown in its sole discretion. Georgetown may settle the action by, among other
things, granting a license to the alleged infringer in the event that such license is deemed necessary in the opinion of Georgetown to settle and obtain a release from or covenant to not to sue or bring an action with respect to any claim related to
the invalidity or interference of the Patent Rights. In that event, Georgetown shall be entitled to convert the license granted to Company hereunder from an exclusive license to either a non-exclusive or co-exclusive license. 

  

	11.6	 Conduct of Suit. 

 

	 	11.6.1	 Company shall diligently pursue any suit or action under Section 11.2 that was
undertaken by Company. Company shall keep Georgetown reasonably apprised of all developments, and shall seek Georgetown’s input and approval on any 

  
 20 

	 	 
substantive submissions or positions taken regarding the scope, validity, and enforceability of the Patent Rights. 

 

	 	11.6.2	 Company shall not prosecute, defend, or otherwise compromise any suit in a manner that materially adversely
affects Georgetown’s interests. Company shall not enter into any settlement, consent judgment, agreement (including without limitation any grant of a Sublicense to the alleged infringer), or other voluntary final disposition of any suit without
Georgetown’s prior written consent, which consent shall not be unreasonably withheld. 

  

	 	11.6.3	 Each Party shall provide prompt access to all necessary documents and shall render reasonable assistance in
response to requests by the other Party related to any suit under this Article 11. 

  

	 	11.6.4	 Any Party which commences a suit and then wants to abandon it shall give at least thirty (30) days
notice to the other Party. The other Party may continue prosecution of the suit, in which event the Parties shall negotiate in good faith regarding the sharing of expenses and any recovery in the suit. 

 

	 	11.6.5	 Neither Party shall be liable for any losses incurred as a result of an action for Infringement brought
against the other Party as a result of the other Party’s actions or omissions, including without limitation its exercise of any right granted under this Agreement. 

 

	 	11.6.6	 No settlement, consent judgment or other voluntary final disposition of the suit may be entered into without
the prior consent of Georgetown, which consent shall not be unreasonably withheld. 

 ARTICLE 12. TERM AND TERMINATION

  

	12.1	 Term and Expiration. This Agreement shall commence as of the Effective Date. Unless earlier
terminated in accordance with this Article, this Agreement shall expire on a country-by-country basis until the later of: (a) Claim Expiration Date including Patent
Extensions; or (b) the date of expiration of any regulatory or market exclusivity of a Licensed Product; or (c) in the absence of issued claims, five (5) years after the First Commercial Sale of a Licensed Product for each Licensed
Field in that country or ten (10) years if absence of issued claims is due to an interference and the Licensed Product continues to be sold (the “Term”). 

 

	12.2	 Termination by Georgetown. 

 

	 	12.2.1	 Failure to Pay. In the event of a failure by Company to pay Georgetown any material sum, (which is
any amount over five thousand dollars ($5,000)) due and payable under this Agreement and such sum is not in dispute, Georgetown may terminate this Agreement and the license(s) granted under this Agreement, if the failure is not cured within thirty
(30) days of receiving written notice thereof from Georgetown, except as provided in 7.9.2. 

  
 21 

	 	12.2.2	 Other Failure to Perform. In the event of any undisputed material breach or default of this Agreement
(other than those covered by another subsection of this Article 12.2) and subject to Article 5.4 with regard to the Development Plan, Georgetown may terminate this Agreement and the license(s) granted under this Agreement, if the failure is
not cured within sixty (60) days of written notice thereof. However, if that failure cannot be cured by the exercise of due diligence within sixty (60) days, then the time for cure shall be extended for additional thirty (30) day
periods upon written requests by Company as reasonably necessary to effect the cure (such total extension not to exceed ninety (90) days), provided that Company promptly commences to cure within said period and at all times thereafter proceeds
diligently to cure the failure. 

  

	 	12.2.3	 Bankruptcy. Georgetown may terminate this Agreement and the license granted under this Agreement upon
Company’s making of an assignment for the benefit of creditors or being adjudicated bankrupt; or the placing of all or substantially all of Company’s assets in the control of a receiver or trustee for the benefit of creditors and the
receivership or trusteeship continues for a period of ninety (90) days; or Company’s instituting proceedings under the federal bankruptcy laws relating to insolvency of debtors, wherein Company seeks to be adjudicated bankrupt or to be
discharged of its debts, or to affect a plan of liquidation or reorganization; or the instituting by others of those proceedings against Company, and Company consents thereto or acquiesces therein by pleading or default, or those proceedings are not
contested and discharged within ninety (90) days. (The foregoing events are collectively referred to as “Bankruptcy”). 

  

	 	12.2.4	 Underreporting or Underpayment. Georgetown may terminate this Agreement if an examination by
Accountant pursuant to Article 10 (Record Keeping) shows an underreporting or underpayment by Company in excess of ten percent (10%) for any twelve (12)-month period and the Company fails to make the payment stated in Section 10.5 within
thirty (30) days of notification from Georgetown to Company of such underreporting or underpayment provided no such amount is in dispute. Should the company dispute such amount, the Parties shall try to settle such conflict pursuant to
Section 14.10 on Dispute Resolution. 

  

	 	12.2.5	 Termination for Patent Validity Challenge. Georgetown shall have the right to terminate this
Agreement by written notice to Company in the event of a Patent Validity Challenge by Company or Sublicensee. 

  

	12.3	 Termination by Company. Company may terminate this Agreement as to one or more countries, upon ninety
(90) days advance written notice of termination specifying the country(ies), and shall pay to Georgetown all payments due through the effective date of the termination with respect to those country(ies), including without limitation royalties,
fees, and Patent Expenses. If the ninety (90) days encompasses a patent prosecution or maintenance deadline, Georgetown shall be relieved of its obligations under Article 7 with respect to meeting that deadline. In the event Company
terminates this Agreement as to all Licensed Territories, for the reason other than non-performance of Patent Rights and/or 

  
 22 

	 	 
Licensed Technology, Company shall pay to Georgetown a termination fee of thirty thousand dollars ($30,000). 

 

	12.4	 Mutual Termination. Georgetown and Company can mutually agree in writing to terminate the Agreement.
Such mutual termination shall not inaffect the surviving responsibilities of the Party except as may be specified in such mutual termination agreement. 

  

	12.5	 Survival. Expiration or termination of this Agreement does not relieve either Party of any obligation
which arises before expiration or termination, including without limitation obligations for payment and reporting. Any provision of this Agreement which contemplates performance or observance subsequent to any termination or expiration of this
Agreement shall survive any termination or expiration of this Agreement and continue in full force and effect, including without any limitations the following: Article 6 (Financial Provisions), Article 10 (Record Keeping);
Section 12.7.4 (Disposition of Licensed Products on Hand), Article 8 (Confidentiality); Article 13 (Representations & Disclaimer of Warranties); and Article 14 (General). 

 

	12.6	 Upon expiration or termination of this Agreement in whole or in part for any reason: 

 

	 	12.6.1	 Upon the expiration, or termination by Company for Georgetown’s breach, of this Agreement, the licenses
granted to Company in Section 3.1 shall survive to the extent required for the Parties to fulfill their obligations and realize their rights under this Agreement; 

 

	 	12.6.2	 Upon termination by Georgetown for Company’s breach, the licenses granted to Company in
Section 3.1 shall terminate, and Company shall not thereafter have any license or other rights to the Patent Rights subject to other provisions of this Section 12; 

 

	 	12.6.3	 Ninety (90) days after the effective date of expiration or termination, Company shall submit a final
Royalty Report and pay to Georgetown all amounts due under this Agreement, including without limitation royalties, fees, and Patent Expenses; 

  

	 	12.6.4	 Subject to Article 7. Patent Prosecution, Company shall be obligated to pay Patent Expenses incurred during
the period following the effective date of termination or expiration: (a) sixty (60) days in the event of expiration or termination by Georgetown pursuant to Section 12.2; or (b) ninety (90) days in the event of a
termination by the Company pursuant to Section 12.3; provided, however, that Georgetown shall use reasonable efforts to minimize the Patent Expenses incurred during the applicable period; 

 

	 	12.6.5	 Company shall not thereafter grant to any Third Party any rights in the Patent Rights;

  

	 	12.6.6	 Subject to Sections 12.7.4 and 12.7.5, Company shall immediately either deliver to Georgetown, or destroy
and certify to Georgetown in writing the destruction of all products included within the Patent Rights. Notwithstanding the foregoing, should any such materials be the information that Company cannot destroy due to any

  
 23 

	 	 regulatory requirements, Company shall maintain and treat such information confidential pursuant to Article 8
(Confidentiality) and shall provide Georgetown a copy of the same for its record. 

  

	12.7	 Upon Termination: 

 

	 	12.7.1	 In the event of termination of this Agreement, as opposed to expiration, and except in the instance
termination is due to Georgetown’s breach of this Agreement, Georgetown shall have a worldwide, royalty-free, sublicensable, perpetual license to use (1) the results of any product or process development, clinical trial and manufacturing
development conducted or sponsored by Company used in or necessary for the use of or manufacture of any Licensed Product, and related documents and materials associated with such results, and (ii) the information contained in any regulatory
filings and related documents and materials associated with submissions for regulatory approvals relevant to any Licensed Product as of the date of termination, in each case to the extent Company has the right to grant such a license. Company shall
provide Georgetown with full access to the foregoing. In the event such termination occurs due to Non-Performance of Invention or Patent Rights, Georgetown may negotiate a royalty-bearing license with the
Company to use the foregoing. The royalties paid by Georgetown to Company under such a license shall not exceed $250,000 for the term of such license. Non-Performance of Invention or Patent Rights shall mean
failure to meet primary or secondary clinical end points established in any Clinical Trial. 

  

	 	12.7.2	 In the event of termination of this Agreement, as opposed to expiration, Georgetown shall have the right to
negotiate a royalty-bearing exclusive or non-exclusive sublicensable worldwide, license to make, have made, use, sell, offer for dale, have sold, import, export, commercialize and market intellectual property
in the Licensed Field owned solely by Company or owned jointly by Company and Georgetown. The financial terms of said license shall be commercially reasonable and negotiated in good faith between the Parties. If the Parties are unable to arrive at
mutually satisfactory terms and conditions within one year of the date of the disclosure notice, either Party may elect to submit the agreement to a binding determination by a Third Party, mutually acceptable, expert in licensing and royalty rate in
the pharmaceutical/biotech industry within sixty (60) days thereafter. In making its decision, the Third Party expert shall determine the financial terms and conditions that would be contained in a commercially reasonable license agreement
between two independent arm’s length parties. 

  

	 	12.7.3	 Georgetown shall have the right to negotiate a royalty-free exclusive or
non-exclusive, sublicensable, worldwide, perpetual license to use any and all trademarks, service marks, and trade names owned solely by Company associated solely with License Products, unless the Licensed
Product is approved by a regulatory agency and the Licensed Product is being sold, in which case Georgetown will negotiate a royalty-bearing license. The financial terms of said license shall be commercially reasonable and negotiated in good faith
between the Parties. If the Parties are unable to arrive at mutually satisfactory terms and 

  
 24 

	 	 
conditions within one year of the date of the disclosure notice, either Party may elect to submit the agreement to a binding determination by a Third Party mutually acceptable expert in licensing
and royalty rate in the pharmaceutical/biotech industry within sixty (60) days thereafter. In making its decision, the Third Party expert shall determine the financial terms and conditions that would be contained in a commercially reasonable
license agreement between two independent arm’s length parties. 

  

	 	12.7.4	 Notwithstanding any provision of this Article 12 to the contrary, Company and Sublicensee may Sell
Licensed Product in inventory at the time of the termination of this Agreement for any reason, and may complete Licensed Product in the process of manufacture at such time and sell the same, provided that the sale of such Licensed Product by Company
or Sublicensee shall be subject to the terms of this Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreements; 

 

	 	12.7.5	 If Company chooses not to sell Products in its inventory at the time of termination, Company shall
immediately either deliver to Georgetown, or destroy and certify to Georgetown in writing the destruction of all products or other materials included within the Patent Rights; 

 

	 	12.7.6	 Upon expiration or termination, each Party shall execute and deliver any agreements, instruments, and
documents as are reasonably necessary or appropriate to carry out the terms and conditions of this Agreement, including without limitation in connection with prosecuting any patent application(s) or otherwise obtaining Patent Rights.

 ARTICLE 13. REPRESENTATIONS & DISCLAIMER OF WARRANTIES 

 

	13.1	 Representations by Company. 

 

	 	13.1.1	 Company is validly existing and in good standing under the laws of its jurisdiction of incorporation, with
full corporate power and authority to conduct its business, to own or use the assets that it purports to own or use and to perform all of its obligations under this Agreement. 

 

	 	13.1.2	 To Company’s actual knowledge, all information provided by Company to Georgetown in connection with
this Agreement or the discussions or subject matter relating to this Agreement, including information relating to Company and its officers, directors (or equivalent), employees, donors, supporters, stockholders (as applicable) and other
stakeholders, affiliates, representatives and agents (the “Company Information”), is true, complete and correct. No Company Information contains an untrue statement or omits to state a material fact necessary to make
the statements therein or in this Agreement, in light of the circumstances in which they were made, misleading. 

  
 25 

	 	13.1.3	 This Agreement constitutes or will constitute the legal, valid and binding obligation of Company,
enforceable against Company in accordance with its terms. Company and the signatories to this Agreement are fully authorized and have the absolute and unrestricted right, power, authority and capacity to execute and deliver this Agreement, and to
perform Company’s obligations under this Agreement. 

  

	 	13.1.4	 Neither the execution and delivery of this Agreement nor the performance of Company’s obligations under
this Agreement will contravene, conflict with or result in a violation of (i) any provision of the organizational or governing documents of Company, (ii) to the Company’s actual knowledge, any applicable law or (iii) any material
agreement or obligation of Company in a manner that might adversely impact Company’s right, power, authority, capacity or ability to perform Company’s obligations under this Agreement. 

 

	13.2	 Representations by Georgetown. 

 

	 	13.2.1	 Georgetown has the authority to enter into this Agreement. Georgetown does not warrant the validity of the
Patent Rights licensed hereunder and makes no representations whatsoever with regard to the scope of the licensed Patent Rights or that such Patent Rights may be exploited by Company or Sublicensee without infringing other patents.

  

	 	13.2.2	 GEORGETOWN EXPRESSLY DISCLAIMS ANY AND ALL IMPLIED OR EXPRESS WARRANTIES AND MAKES NO EXPRESS OR IMPLIED
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE PATENT RIGHTS, OR INFORMATION SUPPLIED BY GEORGETOWN OR LICENSED PRODUCTS CONTEMPLATED BY THIS AGREEMENT. 

 

	 	13.2.3	 Georgetown is validly existing and in good standing under the laws of its jurisdiction of incorporation,
with full corporate power and authority to conduct its business, to own or use the assets that it purports to own or use and to perform all of its obligations under this Agreement. 

 

	 	13.2.4	 This Agreement constitutes or will constitute the legal, valid and binding obligation of Georgetown,
enforceable against Georgetown in accordance with its terms except where enforceability is limited by (A) bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar statutes, rules, regulations or other laws
affecting the enforcement of creditors’ rights and remedies generally, (B) the unavailability of, or limitation on the availability of, a particular right or remedy (whether in a proceeding in equity or at law) because of an equitable
principle or a requirement as to commercial reasonableness, conscionability or good faith and (C) the discretion of courts of competent jurisdiction in granting equitable remedies including the remedies of specific performance and injunction.
Georgetown and the signatories to this Agreement are fully authorized and have the absolute and unrestricted right, power, authority and capacity to execute and deliver this Agreement, and to perform Georgetown’s obligations under this
Agreement. 

  
 26 

 ARTICLE 14. GENERAL 

 

	14.1	 Indemnification. 

 

	 	14.1.1	 Company shall indemnify, defend, and hold harmless Georgetown and its current or former directors, governing
board members, trustees, officers, faculty, medical and professional staff, employees, students, and agents and their respective successors, heirs, and assigns (collectively, the “Indemnitees”), from and against any claim,
liability, cost, expense, damage, deficiency, loss, or obligation of any kind or nature (including, without limitation, reasonable attorney fees and other costs and expenses of litigation) (collectively, “Claims”), based
upon, arising out of, or otherwise relating to this Agreement, including without limitation any cause of action relating to product liability or other liability concerning any product, process, or service, made, used, or sold pursuant to any right
or license granted under this Agreement. For the avoidance of doubt, Company’s indemnification obligations set forth in this Section 14.1.1 shall not include any indemnification for any Claims arising out of Georgetown’s non-exclusive licensees’ use of Patent Rights or Licensed Products pursuant to Section 3.2. 

  

	 	14.1.2	 Company shall, at its own expense, provide attorneys reasonably acceptable to Georgetown to defend against
any actions brought or filed against any Indemnitee hereunder with respect to the subject of indemnity contained herein, whether or not such actions are rightfully brought. 

 

	 	14.1.3	 Georgetown will indemnify, defend and hold Company, its directors, staff, officers, employees, contractors,
subcontractors and agents harmless against any and all third party claims for loss, damage, or injuries in connection with or arising out of Georgetown’s negligent acts or omissions with respect to Georgetown’s use of the Patent Rights or
Licensed Products pursuant to Section 3.2, except in the case of research at Georgetown sponsored by the Company. Such indemnity shall include all costs and expenses, including attorney’s fees and any costs of settlement. The rights and
obligations of this section shall survive termination or expiration of this Agreement. 

  

	14.2	 Insurance. 

 

	 	14.2.1	 Beginning at the time Licensed Product is first commercially distributed or Sold (other than for the purpose
of obtaining regulatory approvals) by Company, a Sublicensee, or agent of Company, Company, its Affiliates or Sublicensees shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than
five-million dollars ($5 million) per occurence and five-million dollars ($5 million) in the aggregate. During clinical trials of any such Licensed Product, Company, its Affiliates or Sublicensees shall, at its sole cost and expense, procure and
maintain commercial general liability insurance in such equal or lesser amount as Georgetown shall require which shall be not less than five-million dollar ($5 million) per occurence and five-million dollars ($5 million) in the aggregate, naming the
Indemnitees as additional insureds. The 

  
 27 

	 	 Company shall provide evidence of professional liability insurance covering the principal investigator.

  

	 	14.2.2	 Company (or its Affiliates or Sublicensees) shall provide Georgetown with written evidence of such insurance
meeting the requirements of Section 14.2.1 upon request of Georgetown. Company shall provide Georgetown with written notice at least fifteen (15) days prior to the cancellation, renewal, or material change in such insurance.

  

	 	14.2.3	 Company, its Affiliates or Sublicensees shall maintain such commercial general liability insurance beyond
the expiration or termination of this Agreement during: 

  

	 	a.	 the period that any Licensed Product is being commercially distributed or sold by Company, Sublicensee, or
agent of Company; and 

  

	 	b.	 a reasonable period after the period referred to in Section 14.2.3 (a), with reasonableness defined as
the term necessary to exhaust all applicable statute of limitation. 

 Georgetown may periodically review the adequacy of
the minimum limits of liability insurance specified in section 14.2.1 and Georgetown reserves the right to request Company, its Affiliates or Sublicensees to adjust the liability insurance coverages. The specified minimum insurance amounts do not
constitute a limitation on Company’s, its Affiliates or Sublicensees’ obligation to indemnify Georgetown under this agreement. 
  

	 	14.2.4	 Company’s insurance shall be primary coverage; any insurance Georgetown may purchase shall be excess
and non-contributory. Company’s insurance shall be written to cover claims incurred, discovered, manifested, or made during or after the expiration of the Agreement. 

 

	14.3	 Other agreements. In the event Parties wish to transfer any material or data from one Party to the
other Party related to Invention and/or Patent Rights, such transfer shall occur upon mutual consent of the Parties and upon execution of a separate agreement such as Data Transfer Agreement, Material Transfer Agreement or Sponsored Research
Agreement, as the case may be. Any such agreement shall not conflict with the terms and conditions of this Agreement. Georgetown shall amend the Agreement to include such agreement as a Schedule to this Agreement. 

 

	14.4	 Use of Name. Neither Party shall use the other Party’s name or insignia (or any adaptation of
them), trademarks, or the name of any inventors in any advertising, promotional, or sales literature, press release or public communications without the prior written approval of the other Party. In the event that Company, Affiliate or an assignee
terminates this Agreement, the Parties shall mutually agree on the rationale for such termination in the press release that Georgetown shall make on such termination. 

 

	14.5	 Assignment. Except as otherwise provided in this Agreement, without the prior written approval of
Georgetown, approval not to be unreasonably withheld, in each instance, neither this Agreement nor the rights granted hereunder shall be transferred nor assigned 

  
 28 

	 	 
in whole or in part by Company to any Third Party whether voluntarily or involuntarily. Notwithstanding the foregoing, Company may assign this Agreement without the prior written consent of
Georgetown in the event of a merger with a Third Party, in the event of an acquisition of Company by a Third Party, or in connection with the sale of substantially all of Company’s assets relating to this Agreement to a Third Party, provided
such Third Party in each incident 1) has the financial ability to acquire or partner with Company and to operate Company following such acquisition; 2) assumes all obligations owed to Georgetown in this Agreement; 3) agrees to comply in all respects
with the terms, conditions, and provisions of this Agreement, and provides prompt notice thereof including plans for continued development of and/or sales of Licensed Product, in any event not less than ten (10) business days prior to closing
of an acquisition or sale transaction; and 4) is not involved in a legal proceeding and has not threatened any legal proceeding or made another against Georgetown. This Agreement shall be binding upon the respective successors, legal
representatives, and assignees of Georgetown and Company. Any attempted assignment, transfer or delegation in breach of this provision will be deemed to be void and no effect. 

 

	14.6	 Governing Law. All questions regarding patents and inventorship will be determined in accordance with
U.S. Patent laws. In all other respects, the interpretation and application of the provisions of this Agreement shall be governed by the laws of Delaware without regard to its conflict of laws provisions. 

 

	14.7	 Compliance with Laws. Company shall comply with all applicable United States and foreign laws and
regulations with respect to the performance of its obligations under this Agreement and the development, marketing, and Sale of Licensed Products. In particular, it is understood and acknowledged that the transfer of certain commodities and
technical data is subject to United States laws and regulations controlling the export of such commodities and technical data, including without limitation all Export Administration Regulations of the United States Department of Commerce and the
International Traffic in Arms Regulations. These laws and regulations, among other things, prohibit or require a license for the export of certain types of technical data to certain specified countries. Georgetown represents neither that a license
will not be required nor that, if required, such a license will be issued. Company hereby agrees and gives written assurance that it will comply with all United States laws and regulations controlling the export of commodities and technical data,
that it will be solely responsible for any violation of such by Company or Sublicensee, and that Company will defend and hold Georgetown harmless in the event of any legal action of any nature occasioned by such violation. Any costs associated with
obtaining and/or maintaining export licenses will be borne by Company. 

  

	14.8	 Notices. Any notices to be given hereunder shall be sufficient if signed by the Party (or
Party’s attorney) giving same and either (a) delivered in person, or (b) mailed certified mail return receipt requested, or sent by overnight courier, such as Federal Express, or
(c) e-mailed or faxed to other Party if the sender has evidence of successful transmission and if the sender promptly sends the original by ordinary mail, in any event, to the addresses below. Notices
delivered in person shall be deemed given on the date delivered; notices sent by fax shall be deemed given on the date faxed; notices mailed shall be deemed to be 

  
 29 

	 	 
received on the third business day following the date postmarked on the envelope. Notices sent by overnight courier shall be deemed received the following Business Day. 

If to Company: 
 Scott
Glenn, President and CEO 
 Tokalas, Inc. 

1737 Grand Avenue 

Del Mar, CA 92014 

If to Georgetown: 
 By
courier: 
 Vice President 
 Office of
Technology Commercialization 
 Georgetown University 

Harris Building, Suite 1500 
 3300 Whitehaven St, NW 

Washington, DC 20007 
 Fax: 202-687-3111 
 By United States Postal Service: 

Vice President 
 Office of
Technology Commercialization 
 Georgetown University 

Box 571408 
 Washington, DC
20057-1408 
 By such notice either Party may change their address for future notices. 

 

	14.9	 Severability. Should a court of competent jurisdiction later hold any provision of this Agreement to
be invalid, illegal, or unenforceable, and such holding is not reversed on appeal, such provision shall be considered severed from this Agreement. All other provisions, rights, and obligations shall continue without regard to the severed provision,
provided that the remaining provisions of this Agreement are in accordance with the intention of the parties. 

  

	14.10	 Dispute Resolution. In the event of any controversy or claim arising out of or relating to any
provision of this Agreement or the breach thereof, the Parties shall try to settle such conflict amicably between themselves. Subject to the limitation stated in the final sentence of this section, any such conflict which the Parties are unable to
resolve promptly shall be settled through arbitration conducted in accordance with the rules of the American Arbitration Association. The demand for arbitration shall be filed within a reasonable time after the controversy or claim has arisen, and
in no event after the date upon which 

  
 30 

	 	 
institution of legal proceedings based on such controversy or claim would be barred by the applicable statute of limitation. Such arbitration shall be held in the state of Maryland. The award
through arbitration shall be final and binding. Either Party may enter any such award in a court having jurisdiction or may make application to such court for judicial acceptance of the award and an order of enforcement, as the case may be.
Notwithstanding the foregoing, either Party may, without recourse to arbitration, assert against the other Party a Third-Party claim or cross-claim in any action brought by a Third Party, to which the subject matter of this Agreement may be
relevant. 

  

	14.11	 Independent Contractors. It is expressly agreed that Georgetown and Company shall be independent
contractors and that the relationship between the two parties shall not constitute a partnership, joint venture, or agency. Neither Georgetown nor Company shall have the authority to make any statements, representations, or commitments of any kind,
or to take any action, which shall be binding on the other Party, without the prior written consent of the other Party. 

  

	14.12	 Waiver. No provision of the Agreement shall be waived by any act, omission, or knowledge of a Party
or its agents or employees except by an instrument in writing expressly waiving such provision and signed by a duly authorized officer of the waiving Party. Such waiver shall not be deemed a waiver of any other right hereunder or of any other breach
or failure by a Party whether of similar nature or otherwise. 

  

	14.13	 Entire Agreement. This Agreement, the Confidential Disclosure Agreement between Georgetown and
Windamere Venture Partners, LLC effective as of November 13, 2013, and the Confidential Disclosure Agreement between Georgetown and Company effective as of January 25, 2014 constitute the entire agreement between the Parties and neither
Party shall be obligated by any condition or representation other than those expressly stated herein or as may be subsequently agreed to by the Parties hereto in writing. All Confidential Information shared before the Effective Date shall be
governed by the terms and conditions of the respective Confidentiality Disclosure Agreement. Any Confidential Information shared after the Effective Date of this Agreement shall be governed by the terms of Article 8 under this Agreement.

  

	14.14	 Force Majeure. No liability hereunder will result to a Party by reason of delay in performance caused
by force majeure that is circumstances beyond the reasonable control of the Party, including, without limitation, acts of God, fire, flood, earthquake, war, terrorism, civil unrest, labor unrest, or shortage of or inability to obtain material or
equipment. 

  

	14.15	 No Endorsement. By entering into this Agreement, Georgetown neither directly nor indirectly endorses
any product or service provided, or to be provided by Company, whether directly or indirectly related to this Agreement. Company will not state or imply that this Agreement is an endorsement by Company or its employees. 

 

	14.16	 Proprietary Rights. Company will not, by performance under this Agreement, obtain any ownership
interest in Patent Rights or any other proprietary rights or information of Georgetown, its officers, inventors, employees, students, or agents. 

  
 31 

	14.17	 Headings. The headings of the sections of this Agreement are inserted for convenience and reference
only, and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

  

	14.18	 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to
have the same legal effect as delivery of an original signed copy of this Agreement. 

 [SIGNATURE PAGE FOLLOWS] 

  
 32 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
duly authorized representatives. 
  

					
		  	GEORGETOWN UNIVERSITY	  	
			
		  	 /s/ Claudia C. Stewart, Ph.D.
	  	
		  	Claudia C. Stewart, Ph.D.	  	
		  	Vice President	  	
		  	Office of Technology Commercialization	  	
		  		  	
		  	    03/26/2014    	  	
		  	Date	  	
			
		  	TOKALAS, INC.	  	
			
		  	 /s/ Scott L. Glenn
	  	
		  	Scott L. Glenn	  	
		  	President, CEO	  	
			
		  	        3/26/14        	  	
		  	Date	  	

 SCHEDULE A: PATENT RIGHTS 

[***] 

  
 34 

 SCHEDULE B: COMPANY’S DEVELOPMENT PLAN 

TOKALAS DEVELOPMENT PLAN 

FEBRUARY 2014 
 [***] 

  
 35 

 SCHEDULE C: MILESTONES 

[***] 

  
 36 

 SCHEDULE D: MILESTONE PAYMENTS 

Company shall make the following payments to Georgetown upon Company or Sublicensee achieving the milestones as set forth below. 

[***] 

  
 37 

 SCHEDULE E: LOW AND MIDDLE INCOME ECONOMIES 

 

			
		
	 Afghanistan
	  	 Libya

		
	 Albania
	  	 Macedonia, FYR

		
	 Algeria
	  	 Madagascar

		
	 American Samoa
	  	 Malawi

		
	 Angola
	  	 Malaysia

		
	 Argentina
	  	 Maldives

		
	 Armenia
	  	 Mali

		
	 Azerbaijan
	  	 Marshall Islands

		
	 Bangladesh
	  	 Mauritania

		
	 Belarus
	  	 Mauritius

		
	 Belize
	  	 Mexico

		
	 Benin
	  	 Micronesia, Fed. Sts.

		
	 Bhutan
	  	 Moldova

		
	 Bolivia
	  	 Mongolia

		
	 Bosnia and Herzegovina
	  	 Montenegro

		
	 Botswana
	  	 Morocco

		
	 Brazil
	  	 Mozambique

		
	 Bulgaria
	  	 Myanmar

		
	 Burkina Faso
	  	 Namibia

		
	 Burundi
	  	 Nepal

		
	 Cambodia
	  	 Nicaragua

		
	 Cameroon
	  	 Niger

		
	 Cape Verde
	  	 Nigeria

		
	 Central African Republic
	  	 Pakistan

  
 38 

			
		
	 Chad
	  	 Palau

		
	 China
	  	 Panama

		
	 Colombia
	  	 Papua New Guinea

		
	 Comoros
	  	 Paraguay

		
	 Congo, Dem. Rep.
	  	 Peru

		
	 Congo, Rep.
	  	 Philippines

		
	 Costa Rica
	  	 Romania

		
	 Cote d’Ivoire
	  	 Rwanda

		
	 Cuba
	  	 Samoa

		
	 Djibouti
	  	 Sao Tome and Principe

		
	 Dominica
	  	 Senegal

		
	 Dominican Republic
	  	 Serbia

		
	 Ecuador
	  	 Seychelles

		
	 Egypt, Arab Rep.
	  	 Sierra Leone

		
	 El Salvador
	  	 Solomon Islands

		
	 Eritrea
	  	 Somalia

		
	 Ethiopia
	  	 South Africa

		
	 Fiji
	  	 South Sudan

		
	 Gabon
	  	 Sri Lanka

		
	 Gambia, The
	  	 St. Lucia

		
	 Georgia
	  	 St. Vincent and the Grenadines

		
	 Ghana
	  	 Sudan

		
	 Grenada
	  	 Suriname

		
	 Guatemala
	  	 Swaziland

		
	 Guinea
	  	 Syrian Arab Republic

  
 39 

			
		
	 Guinea-Bissau
	  	 Tajikistan

		
	 Guyana
	  	 Tanzania

		
	 Haiti
	  	 Thailand

		
	 Honduras
	  	 Timor-Leste

		
	 Hungary
	  	 Togo

		
	 India
	  	 Tonga

		
	 Indonesia
	  	 Tunisia

		
	 Iran, Islamic Rep.
	  	 Turkey

		
	 Iraq
	  	 Turkmenistan

		
	 Jamaica
	  	 Tuvalu

		
	 Jordan
	  	 Uganda

		
	 Kazakhstan
	  	 Ukraine

		
	 Kenya
	  	 Uzbekistan

		
	 Kiribati
	  	 Vanuatu

		
	 Korea, Dem. Rep.
	  	 Venezuela, RB

		
	 Kosovo
	  	 Vietnam

		
	 Kyrgyz Republic
	  	 West Bank and Gaza

		
	 Lao PDR
	  	 Yemen, Rep.

		
	 Lebanon
	  	 Zambia

		
	 Lesotho
	  	 Zimbabwe

		
	 Liberia
	  	

  
 40

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]