Document:

EQUITY RIGHTS LETTER TO HERCULES TECHNOLOGY

 Exhibit 10.22 
 ELIXIR PHARMACEUTICALS, INC. 
 One Kendall Square 
 Building 1000, 5th Floor 
 Cambridge, MA 02139 
 November 21, 2006 
 Hercules
Technology Growth Capital, Inc. 
 Hercules Technology II, L.P. 
 525 University Avenue 
 Suite 700 
 Palo Alto, CA 94301

 Attention: Mr. Manuel A. Henriquez 
 Ladies and
Gentlemen: 
 For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Elixir Pharmaceuticals,
Inc., a Delaware corporation (the “Company”), the Company hereby grants to Hercules Technology Growth Capital, Inc., Hercules Technology II, L.P. and/or any one or more of their respective designated affiliates, assignees and/or nominees
(collectively, “Hercules”) the right to participate in one Qualified Financing (as defined below) of the Company hereafter, as determined by Hercules in its sole discretion, by permitting Hercules to purchase up to $1,500,000 of Qualified
Financing Securities (as defined below) in such Qualified Financing. Hercules shall have no obligation to purchase Qualified Financing Securities in any Qualified Financing. Any Hercules purchaser of Qualified Financing Securities shall be an
“accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933, as amended (the “Act”). 
 As used herein: 
 “Qualified Financing” means the sale and issuance by the Company, in a single transactions or series of
related transactions, of shares of its convertible preferred stock or other equity securities (or instruments or securities convertible into or exercisable for such convertible preferred stock or other equity securities) to one or more institutional
investors for financing purposes, other than a sale effected pursuant to an effective registration statement under the Act. 
 “Qualified Financing Securities” means, with respect to any Qualified Financing, the class and series of convertible preferred stock or other equity security of the Company (or instrument or security convertible into or
exercisable for such convertible preferred stock or other equity security) sold and issued by the Company to the purchasers in such Qualified Financing. 

 The purchase, if any, by Hercules of Qualified Financing Securities in any Qualified Financing shall be
made, subject to the provisions of this letter, upon the same terms and conditions (including, without limitation, price) as purchases by the other purchasers of Qualified Financing Securities in such Qualified Financing, and Hercules shall execute
the definitive stock purchase agreement, investor rights agreement and other agreements (collectively, “Operative Documents”) executed by such other purchasers in connection with such Qualified Financing. 
 Until such time, if any, as Hercules participates in a Qualified Financing pursuant to the exercise of its rights hereunder, the Company shall give
Hercules not less than ten (10) days written notice prior to the closing of each Qualified Financing, and shall provide such drafts and definitive copies of the Operative Documents and other documents and information in connection with such
Qualified Financing as Hercules may reasonably request. Hercules may exercise its purchase rights hereunder by delivering written notice thereof to the Company no less than five (5) days prior to such closing. 
 The rights of Hercules to purchase Qualified Financing Securities in a Qualified Financing as set forth above shall survive the repayment by the Company
of its indebtedness to Hercules and otherwise shall survive the expiration or other termination of that certain Loan and Security Agreement of even date herewith between the Company and Hercules, and shall terminate upon the earliest to occur of
(i) consummation of the purchase by Hercules of Qualified Financing Securities in a Qualified Financing, (ii) the seventh anniversary of the date hereof, (iii) the date that is three (3) years following the effective date of the
Company’s registration statement filed under the Act in connection with its initial public offering, and (iv) the consummation of a sale by the Company of all or substantially all of its assets or the merger or consolidation of the Company
into or with another person or entity (other than a merger effected for the sole purpose of reincorporation in another jurisdiction or the creation of a holding company where the stockholders of the Company as of immediately prior to such merger
continue to hold at least a majority of the issued and outstanding capital stock entitled to vote of such new holding company). 
 This
Agreement shall be governed by, and interpreted and enforced in accordance with, the laws of the State of California, excluding its conflict of laws provisions. 
  

			
	Very truly yours,
	
	ELIXIR PHARMACEUTICALS, INC.
		
	By:	 	/s/ Karen L. Roberts
	Name:	 	Karen L. Roberts
	Title:	 	VP Finance & Admin.

  

 2WARRANT AGREEMENT BETWEEN CENTAGENETIX & GATX

 Exhibit 10.25 
 THIS WARRANT AND THE SHARES OF CAPITAL STOCK ISSUABLE UPON ANY EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR ANY STATE SECURITIES LAWS. NO SALE OR OTHER TRANSFER OF THIS
WARRANT OR ANY SUCH SHARES OF CAPITAL STOCK MAY BE EFFECTED WITHOUT (i) A REGISTRATION STATEMENT RELATED THERETO SHALL BE EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE “BLUE SKY” LAWS, (ii) AN OPINION OF COUNSEL OR OTHER
EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 7 OF
THIS WARRANT. 
 CENTAGENETIX, INC. 
 WARRANT TO PURCHASE 35,207 SHARES OF SERIES A CONVERTIBLE PREFERRED STOCK OF CENTAGENETIX, INC. 
 THIS
CERTIFIES THAT, in consideration of the covenants set forth in the Equipment Loan and Security Agreement between GATX Ventures, Inc. and Centagenetix, Inc., of even date herewith, and other valuable consideration received, GATX VENTURES, INC. and
its assignees are entitled to subscribe for and purchase thirty-five thousand two hundred seven (35,207) shares of the fully paid and nonassessable Series A Convertible Preferred Stock, $0.001 par value per share (as adjusted pursuant to
Section 4 hereof, the “Shares”) of CENTAGENETIX, INC., a Delaware corporation (the “Company”), at the price of $1.00 per share (such price and such other prices as shall result, from time to time, from
the adjustments specified in Section 4 hereof is herein referred to as the “Warrant Price”), subject to the provisions and upon the terms and conditions hereinafter set forth. As used herein, (a) the term
“Series Preferred” shall mean the Company’s presently authorized Series A Convertible Preferred Stock, and any stock into or for which such Series A Convertible Preferred Stock may hereafter be converted or exchanged, and after
the automatic conversion of the Series A Convertible Preferred Stock to common stock shall mean the Company’s common stock, $0.001 par value per share (the “Common Stock”), and (b) the term “Date of Grant”
shall mean February 28, 2002. The term “Warrant” as used herein shall be deemed include this Warrant and any warrant issued upon transfer or partial exercise of or in lieu of this Warrant unless the context clearly requires
otherwise. 
 1. Term. The purchase right represented by this Warrant is exercisable by the holder hereof, in whole or in part, at any
time and from time to time from the Date of Grant through 5:00 Eastern Standard Time on the date that is the later of (i) ten (10) years after the Date of Grant or (ii) five (5) years after the closing of the Company’s
initial public offering of its Common Stock (“IPO”) effected pursuant to a registration statement filed under the Securities Act of 1933, as amended (the “Act”). 

 2. Method of Exercise; Payment; Issuance of New Warrant. Subject to Section 1 hereof,
the purchase right represented by this Warrant may be exercised by the holder hereof, in whole or in part and from time to time, at the election of the holder hereof, by (a) the surrender of this Warrant (with the notice of exercise
substantially in the form attached hereto as Exhibit A-l duly completed and executed) at the principal office of the Company accompanied by the payment to the Company, by certified or official bank check, or by wire transfer to an account
designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the
Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 duly completed and executed) at the principal office of the Company together with notice of arrangements reasonably
satisfactory to the Company for payment to the Company either by certified or bank check or by Wire Transfer from the proceeds of the sale of shares to be sold by the holder in such public offering of an amount equal to the then applicable Warrant
Price per share multiplied by the number of Shares then being purchased; or (c) exercise of the “net issuance” right provided for in Section 10.2 hereof. The person or persons in whose name(s) any certificate(s)
representing Shares shall be issuable upon exercise of this Warrant shall be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the Shares represented thereby (and such Shares shall be
deemed to have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, (x) certificates for the shares of stock
so purchased plus, in lieu of any fractional share, cash in an amount determined in accordance with Section 6, shall be delivered to the holder hereof as soon as possible and in any event within thirty (30) days after such exercise
and, (y) unless this Warrant has been fully exercised or has expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant has not then been exercised shall also be issued to the holder hereof as soon
as possible and in any event within such thirty-day period; provided that at such time as the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, if requested by the holder of this Warrant, the
Company shall cause its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the holder exercising this Warrant) within the reasonable time period required to
settle any trade made by the holder after exercise of this Warrant. 
 3. Stock Fully Paid; Reservation of Shares. All Shares that may
be issued upon the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes, liens and charges with respect to
the issue thereof (other than taxes, liens and charges incurred by the holder of this Warrant). During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for
issuance upon exercise of the purchase right and conversion right evidenced by this Warrant, a sufficient number of shares of its Series Preferred to provide for the exercise of the rights represented by this Warrant and a sufficient number of
shares of its Common Stock to provide for the conversion of the Series Preferred into Common Stock. 
  

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 4. Adjustment of Warrant Price and Number of Shares. The number and kind of securities purchasable
upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (a) Reclassification or Merger. In case of any reclassification or change of securities of the class issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value,
or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or into another corporation (other than a merger with another corporation in which the Company is the acquiror and the
surviving corporation and which does not result in any reclassification of, or change in, outstanding securities issuable upon exercise of this Warrant), or in case of any sale of all or substantially all of the assets of the Company, the Company,
or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the holder of this Warrant a new Warrant (in form and substance substantially similar to this Warrant as reasonably determined by the holder of this
Warrant), or the Company shall make appropriate provision without the issuance of a new Warrant, so that the holder of this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable
upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Series Preferred theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property which such
holder would have been entitled to receive, if, immediately prior to any such reclassification, change, merger or sale, as the case may be, such holder had held the number of shares of Series Preferred which were then purchasable upon exercise of
this Warrant. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 4. The provisions of this Section 4(a) shall similarly apply
to successive reclassification, changes, mergers and sales. 
 (b) Subdivision or Combination of Shares. If the Company
at any time while this Warrant remains outstanding and unexpired shall subdivide or combine its outstanding shares of Series Preferred, the Warrant Price shall be proportionately decreased and the number of Shares issuable hereunder shall be
proportionately increased in the case of a subdivision and the Warrant Price shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in the case of a combination. 
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall
(i) pay a dividend with respect to Series Preferred payable in Series Preferred, then the Warrant Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price
determined by multiplying the Warrant Price in effect immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Series Preferred outstanding immediately prior to such
dividend or distribution, and (B) the denominator of which shall be the total number of shares of Series Preferred outstanding immediately after such dividend or distribution; or (ii) make any other distribution with respect to Series
Preferred (except any distribution specifically provided for in Sections 4(a) and 4(b)), then, in each such case, provision shall be made by the Company such that the holder of this Warrant shall receive upon exercise of this Warrant a
proportionate share of any such dividend or distribution as though it were the holder of the Series Preferred (or Common Stock issuable upon conversion thereof) as of the record date fixed for the determination of the shareholders of the Company
entitled to receive such dividend or distribution. 
  

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 (d) Adjustment of Number of Shares. Upon each adjustment in the Warrant Price, the
number of Shares of Series Preferred purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant Price by a
fraction, the numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 
 (e) Antidilution Rights. The other antidilution rights applicable to the Shares of Series Preferred purchasable hereunder are set
forth in the Company’s Certificate of Incorporation, as amended through the Date of Grant, a true and complete copy of which is attached hereto as Exhibit B (the “Charter”). Such antidilution rights shall not be
restated, amended, modified or waived in any manner that is adverse to the holder hereof without such holder’s prior written consent if the effect of such restatement, amendment, modification or waiver on the holder hereof would be more adverse
to the holder hereof than its effect on the other holders of the Company’s Series Preferred. The Company shall promptly provide the holder hereof with any restatement, amendment, modification or waiver of the Charter promptly after the same has
been made to the extent that such restatement, amendment, modification or waiver modifies or waives the rights of the Preferred Stock. 
 5.
Notice of Adjustments. Whenever the Warrant Price or the number of Shares purchasable hereunder shall be adjusted pursuant to Section 4 hereof, the Company shall make a certificate signed by its chief financial officer setting
forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the Warrant Price and the number of Shares purchasable hereunder after giving effect to such
adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class mail, postage prepaid) to the holder of this Warrant. In addition, whenever the conversion price or conversion ratio
of the Series Preferred shall be adjusted, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such
adjustment was calculated, and the conversion price or ratio of the Series Preferred after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class
mail, postage prepaid) to the holder of this Warrant. 
 6. Fractional Shares. No fractional shares of Series Preferred will be issued
in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Series Preferred on the date of exercise as reasonably determined in good faith by
the Company’s Board of Directors or, in the case of a conversion of this Warrant, in accordance with Section 10.2. 
  

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 7. Compliance with Act; Disposition of Warrant or Shares. 
 (a) Compliance with Act. The holder of this Warrant, by acceptance hereof, represents, warrants and agrees that this Warrant, and
the Shares to be issued upon exercise hereof and any Common Stock issued upon conversion thereof are being acquired for investment and that such holder will not offer, sell or otherwise dispose of this Warrant, or any Shares to be issued upon
exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Act or any applicable state securities laws. Upon exercise of this Warrant, unless the Shares being acquired
are registered under the Act and any applicable state securities laws or an exemption from such registration is available, the holder hereof shall confirm in writing that the Shares so purchased (and any shares of Common Stock issued upon conversion
thereof) are being acquired for investment and not with a view toward distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably requested by the Company. This Warrant and all Shares
issued upon exercise of this Warrant and all shares of Common Stock issued upon conversion thereof (unless registered under the Act and any applicable state securities laws) shall be stamped or imprinted with a legend in substantially the following
form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED BY ANY PERSON, INCLUDING A PLEDGEE, UNLESS (1) EITHER (A) A REGISTRATION WITH RESPECT THERETO SHALL BE EFFECTIVE UNDER THE
SECURITIES ACT, OR (B) THE CORPORATION SHALL HAVE RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT IS AVAILABLE AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH ALL
APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS.” 
 Said legend shall be removed by the Company, upon the
request of a holder, at such time as the restrictions on the transfer of the applicable security shall have terminated. In addition, in connection with the issuance of this Warrant, the holder specifically represents and warrants to the Company by
acceptance of this Warrant as follows: 
 (1) The holder is aware of the Company’s business affairs and financial
condition, and has acquired information about the Company sufficient to reach an informed and knowledgeable decision to acquire this Warrant. The holder is acquiring this Warrant for its own account for investment purposes only and not with a view
to, or for the resale in connection with, any “distribution” thereof in violation of the Act. 
 (2) The holder
understands that this Warrant has not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the holder’s investment intent as expressed herein.

 (3) The holder further understands that this Warrant must be held indefinitely unless subsequently registered under the Act
and qualified under any applicable state securities laws, or unless exemptions from registration and qualification are otherwise available. The holder is aware of the provisions of Rule 144, promulgated under the Act. 
  

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 (4) The holder is an “accredited investor” as such term is defined in Rule 501
of Regulation D promulgated under the Act. 
 (b) Disposition of Warrant or Shares. With respect to any offer, sale or
other disposition of this Warrant, any shares of Series Preferred acquired pursuant to the exercise of this Warrant, or any shares of Common Stock acquired upon conversion of the Shares, prior to registration of such Warrant or such shares, the
holder hereof agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with (x) a written opinion of such holder’s counsel, or other evidence, if reasonably satisfactory to the Company and
the Company’s counsel, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or state securities law then in effect) of this Warrant or
such shares of Series Preferred or Common Stock and indicating whether or not under the Act certificates for this Warrant or such shares of Series Preferred to be sold or otherwise disposed of require any restrictive legend as to applicable
restrictions on transferability in order to ensure compliance with such law, and (y) copies of any documentation necessary to effect any such transfer or disposition. Upon receiving such written notice, documentation and reasonably satisfactory
opinion or other evidence, the Company, as promptly as practicable but no later than thirty (30) days after receipt of the written notice, shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such shares of
Series Preferred or Common Stock, all in accordance with the terms of the notice delivered to the Company. If a determination has been made pursuant to this Section 7(b) that the opinion of counsel for the holder or other evidence is not
reasonably satisfactory to the Company, the Company shall so notify the holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, this Warrant or such shares of Series Preferred or Common Stock may,
as to such federal laws, be offered, sold or otherwise disposed of in accordance with Rule 144 or 144A under the Act, provided that the Company shall have been furnished with such information as the Company may reasonably request to provide a
reasonable assurance that the provisions of Rule 144 or 144A under the Act have been satisfied. Each certificate representing this Warrant or the shares of Series Preferred thus transferred (except a transfer pursuant to Rule 144 or 144A under the
Act) shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws, unless in the aforesaid opinion of counsel for the holder, such legend is not required in order to ensure compliance with
such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions. 
 (c)
Applicability of Restrictions. Neither any restrictions of any legend described in this Warrant nor the requirements of Section 7(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the
Series Preferred or Common Stock obtainable upon exercise thereof) or any part hereof (i) to a partner of the holder if the holder is a partnership or to a member of the holder if the holder is a limited liability company, (ii) to a
partnership of which the holder is a partner or to a limited liability company of which the holder is a member, or (iii) to any affiliate of the holder if the holder is a corporation; provided that in any such transfer, if
applicable, the transferee shall on the Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 
  

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 8. Rights as Shareholders; Information. No holder of this Warrant, as such, shall be entitled to
vote or receive dividends or be deemed the holder of Series Preferred or any other securities of the Company which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon
the holder of this Warrant, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive notice of meetings, or to
receive dividends or subscription rights or otherwise until this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. Notwithstanding the foregoing, the Company will
transmit to the holder of this Warrant such information, documents and reports as are generally distributed to the holders of any class or series of the securities of the Company concurrently with the distribution thereof to the shareholders.

 9. Registration Rights. The Company grants registration rights to the holder of this Warrant for any Common Stock of the Company
obtained upon conversion of the Series Preferred, comparable to the registration rights granted to the investors in that certain Registration Rights Agreement dated as of October 29, 2001 (the “Rights Agreement”), with the
following exceptions and clarifications: 
 (1) Notwithstanding any provisions to the contrary in the Rights Agreement, the
holder will not have the right to demand registration, but can otherwise participate in any registration demanded by others. 
 (2) The holder will be subject to the same provisions regarding indemnification as contained in the Rights Agreement. 
 (3) The registration rights are freely assignable by the holder of this Warrant in connection with a permitted transfer of this Warrant or the Shares. 
 10. Additional Rights. 
 10.1 Acquisition Transactions. The Company shall provide the holder
of this Warrant with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of any of the following transactions (to the extent the Company has notice thereof): (i) the sale, lease, exchange,
conveyance or other disposition of all or substantially all of the Company’s property or business, or (ii) its merger into or consolidation with any other corporation (other than a wholly-owned subsidiary of the Company), or any
transaction (including a merger or other reorganization) or series of related transactions, in which more than fifty percent (50%) of the voting power of the Company is disposed of. The holder of the Warrant agrees not to divulge, communicate
or disclose the information provided in any notice provided hereunder to any third party, except to any third-party consultant assisting in the holder’s evaluation of the proposed transaction who is apprised of the confidential nature of the
information contained in such notice and is subject to confidentially obligations substantially the same as those provided for in this Section 10.1, and as may be required by law or as is necessary to enforce its rights under this
Warrant. 
  

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 10.2 Right to Convert Warrant into Stock; Net Issuance. 
 (a) Right to Convert. In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder
shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Series Preferred as provided in this Section 10.2 at any time or from time to time during the term of this
Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder (without payment by the holder of any
exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Series Preferred as is determined according to the following formula: 
 X = B - A 
  Y 

 

					
	Where:	 	X =	  	the number of shares of Series Preferred that shall be issued to holder
			
		 	Y =	  	the fair market value of one share of Series Preferred
			
		 	A =	  	the aggregate Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right (i.e., the number of Converted Warrant Shares
multiplied by the Warrant Price)
			
		 	B =	  	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market value of one
Converted Warrant Share)

 No fractional shares shall be issuable upon exercise of the Conversion Right, and, if the number
of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date
(as hereinafter defined). For purposes of Section 10 of this Warrant, shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of this Warrant. 
 (b) Method of Exercise. The Conversion Right may be exercised by the holder by the surrender of this Warrant at the principal
office of the Company together with a written statement (which may be in the form of Exhibit A-l or Exhibit A-2 hereto) specifying that the holder thereby intends to exercise the Conversion Right and indicating the number of shares
subject to this Warrant which are being surrendered (referred to in Section 10.2(a) hereof as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective upon receipt by the Company of this
Warrant together with the aforesaid written statement, or on such later date as is specified therein (the “Conversion Date”), and, at the election of the holder hereof, may be made contingent upon the closing of the sale of the
Company’s Common Stock to the public in a public 

  

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offering pursuant to a Registration Statement under the Act (a “Public Offering”). Certificates for the shares issuable upon exercise of the
Conversion Right and, if applicable a new warrant evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the holder within thirty (30) days following the
Conversion Date. 
 (c) Determination of Fair Market Value. For purposes of this Section 102 “fair
market value” of a share of Series Preferred (or Common Stock if the Series Preferred has been automatically converted into Common Stock) as of a particular date (the “Determination Date”) shall means: 
 (i) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s Registration
Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect
to such offering. 
 (ii) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering,
then as follows: 
 (A) If traded on a securities exchange, the fair market value of the Common Stock shall be deemed to be
the average of the closing prices of the Common Stock on such exchange over the twenty (20) trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair market value
of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; 
 (B) If traded on the Nasdaq Stock Market or other over-the-counter system, the fair market value of the Common Stock shall be deemed to be the average of the closing bid prices of the Common Stock over the twenty
(20) trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each
share of Series Preferred is then convertible; and 
 (C) If there is no Public market for the Common Stock, then fair market
value shall be determined in good faith by the Company’s Board of Directors. 
 In making a determination under clauses (A) or (B) above, if
on the Determination Date, twenty (20) trading days had not passed since the IPO, then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the shorter period beginning on and
including the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading day). If closing prices or closing
bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on the
applicable trading day. 
  

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 10.3 Exercise Prior to Expiration. To the extent this Warrant is not previously exercised as to
all of the Shares subject hereto, and if the fair market value of one share of the Series Preferred is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 10.2 above
immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Series Preferred upon such expiration shall be determined pursuant to Section 10.2(c). To the extent this Warrant or
any portion thereof is deemed automatically exercised pursuant to this Section 10.3, the Company agrees to notify the holder hereof of the number of Shares, if any, the holder hereof is to receive by reason of such automatic exercise;
provided that in the event that the holder of this Warrant fails to surrender this Warrant within thirty (30) days of receiving such notice provided hereunder, the rights of such holder under this Section 10.3,
including the right to receive shares, shall terminate. 
 11. Representations and Warranties. The Company represents and warrants to
the holder of this Warrant as follows: 
 (a) This Warrant has been duly authorized and executed by the Company and is a valid
and binding obligation of the Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific
performance, injunctive relief and other equitable remedies. 
 (b) The Shares have been duly authorized and reserved for
issuance by the Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable and free from preemptive rights. 
 (c) The rights, preferences, privileges and restrictions granted to or imposed upon the Series Preferred and the holders thereof are as
set forth in the Charter, and on the Date of Grant, each share of the Series Preferred represented by this Warrant is convertible into one share of Common Stock in accordance with the terms of the Series Preferred. 
 (d) The shares of Common Stock issuable upon conversion of the Shares have been duly authorized and reserved for issuance by the Company
and, when issued in accordance with the terms of the Charter will be validly issued, fully paid and nonassessable. 
 (e) The
execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with the terms hereof will not: (i) conflict with the Company’s Charter or Bylaws; (ii), assuming the accuracy of
the holder’s representations set forth in Section 7, contravene any law, governmental rule or regulation, judgment or order applicable to the Company: or (iii) conflict with or contravene any provision of, or constitute a
default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice to, the registration or filing with or the taking of any action
in respect of or by, any Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which filings will be effected by the time required thereby. 

 

 -10- 

 (f) There are no actions, suits, audits, investigations or proceedings pending or, to the
knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, could have a material adverse effect on the ability of the Company to perform its
obligations under this Warrant. 
 (g) The number of shares of Common Stock of the Company outstanding on the date hereof, on
a fully diluted basis (assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants other than this Warrant), does not exceed 11,700,000 shares. 
 12. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an instrument in
writing signed by the party against which enforcement of the same is sought. 
 13. Notices. Any notice, request, communication or
other document required or permitted to be given or delivered to the holder hereof or the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, to each such holder at its address as shown on the books of the
Company or to the Company at the address indicated therefor on the signature page of this Warrant, or such other address as is provided in writing by the Company to the holder. 
 14. Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation or
acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Series Preferred issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and
termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the holder hereof. 
 15. Lost Warrants or Stock Certificates. The Company covenants to the holder hereof that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this
Warrant or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or
stock certificate, the Company will make and deliver a new Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 
 16. Descriptive Headings. The descriptive headings of the various Sections of this Warrant are inserted for convenience only and do not constitute
a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 
  

 -11- 

 17. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights
of the parties shall be governed by, the laws of the State of Delaware without giving effect to its conflict of law principles. 
 18.
Survival of Representations, Warranties and Agreements. All representations and warranties of the Company and the holder hereof contained herein shall survive the Date of Grant, the exercise or conversion of this Warrant (or any part hereof)
or the termination or expiration of rights hereunder. All agreements of the Company and the holder hereof contained herein shall survive indefinitely until, by their respective terms, they are no longer operative. 
 19. Remedies. In case any one or more of the covenants and agreements contained in this Warrant shall have been breached, the holders hereof (in
the case of a breach by the Company), or the Company (in the case of a breach by a holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action at law, including, but not limited to, an action for damages
as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 
 20.
No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the
carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder of this Warrant against impairment. 
 21. Severability. The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall not affect the validity or
enforceability of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 22. Recovery of Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or because of an alleged dispute, breach, default, or misrepresentation in connection
with any of the provisions of this Warrant, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it
or they may be entitled. 
 23. Entire Agreement; Modification. This Warrant constitutes the entire agreement between the parties
pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 
 [Remainder of page intentionally left blank.] 
  

 -12- 

 The Company has caused this Warrant to be duly executed and delivered as of the Date of Grant specified
above. 
  

			
	CENTAGENETIX, INC.
		
	By	 	/s/ Carl Weissman
	Title	 	COO
	Address:	 	 12 Emily Street
 Cambridge, MA
02139

  

			
	Acknowledged and Agreed to:
	
	GATX VENTURES, INC.
		
	By	 	/s/ Robert D. Pomeroy, Jr.
	Title	 	Robert D. Pomeroy, Jr.
		 	Senior Vice President

  

 -13- 

 EXHIBIT A-1 
 NOTICE OF EXERCISE 
  

	To:	CENTAGENETIX, INC. (the “Company”) 

 1.
The undersigned hereby: 
  

	 	 ̈	elects to purchase              shares of [Series A Convertible Preferred Stock] [Common Stock] of the Company
pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full, or 

  

	 	 ̈	elects to exercise its net issuance rights pursuant to Section 10.2 of the attached Warrant with respect to
             Shares of [Series A Convertible Preferred Stock] [Common Stock]. 

 2. Please issue a certificate or certificates representing              shares in the name of the undersigned or in such other name or names as are
specified below: 
  

					
		  	 	  	
		  	(Name)	  	
			
		  	 	  	
			
		  	 	  	
		  	(Address)	  	

 3. The shares of Company stock for which the Warrant may be exercised shall be known herein as the
“Warrant Stock.” 
 4. The undersigned is aware that the Warrant Stock has not been and will not be registered under the
Securities Act of 1933, as amended (the “Act”) or any state securities laws. The undersigned understands that reliance by the Company on exemptions under the Act is predicated in part upon the truth and accuracy of the statements of
the undersigned in this Notice of Exercise. 
 5. The undersigned represents and warrants that (1) it has been furnished with all
information which it deems necessary to evaluate the merits and risks of the purchase of the Warrant Stock. (2) it has had the opportunity to ask questions concerning the Warrant Stock and the Company and all questions posed have been answered
to its satisfaction, (3) it has been given the opportunity 

 
to obtain any additional information it deems necessary to verify the accuracy of any information obtained concerning the Warrant Stock and the Company and
(4) it has such knowledge and experience in financial and business matters that it is able to evaluate the merits and risks of purchasing the Warrant Stock and to make an informed investment decision relating thereto. 
 6. The undersigned hereby represents and warrant that it is purchasing the Warrant Stock for its own account for investment and not with a view to the
sale or distribution of all or any part of the Warrant Stock. 
 7. The undersigned understands that because the Warrant Stock has not been
registered under the Act, it must continue to bear the economic risk of the investment for an indefinite period of time and the Warrant Stock cannot be sold unless it is subsequently registered under applicable federal and state securities laws or
an exemption from such registration is available. 
 8. The undersigned agrees and acknowledges that the Warrant Stock is subject to the
restrictions on distribution and disposition set forth in Section 7 of the attached Warrant and further agrees that it will in no event sell or distribute or otherwise dispose of all or any part of the Warrant Stock, except in accordance
with Section 7 of the attached Warrant. 
  

	
	  
	(Signature)

	
	  
	(Date)

 EXHIBIT A-2 
 NOTICE OF EXERCISE 
  

	To:	CENTAGENETIX, INC. (the “Company”) 

 1.
Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated by the Registration Statement on Form
S            , filed             ,             ,
the undersigned hereby: 
  ̈ elects
to purchase              shares of [Series A Convertible Preferred Stock] [Common Stock] of the Company (or such lesser number of shares as may be sold on behalf of the undersigned
at the Closing) pursuant to the terms of the attached Warrant, or 
  ̈ elects to exercise its net issuance rights pursuant to Section 10.2 of the attached Warrant with respect to
             Shares of [Series A Convertible Preferred Stock] [Common Stock]. 
 2. Please deliver to the custodian for the selling shareholders a stock certificate representing such              shares. 
 3. The undersigned has instructed the custodian for the selling shareholders to deliver to the Company
$             or, if less, the net proceeds due the undersigned from the sale of shares in the aforesaid public offering. If such net proceeds are less than the purchase price for
such shares, the undersigned agrees to deliver the difference to the Company prior to the Closing. 
  

	
	  
	(Signature)

	
	  
	(Date)

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