Document:

EX-10.21

 Exhibit 10.21 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], 

HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE 

COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 

EXCLUSIVE LICENSE AND 

RESEARCH COLLABORATION AGREEMENT 

by and between 
 Artiva
Biotherapeutics, Inc. 
 and 

Merck Sharp & Dohme Corp. 

 EXCLUSIVE LICENSE AND RESEARCH COLLABORATION AGREEMENT 

This Exclusive License and Research Collaboration Agreement (this “Agreement”) is effective as of January 26, 2021 (the
“Effective Date”) and is entered into by and between Artiva Biotherapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Company”) and Merck Sharp & Dohme Corp., a corporation
organized and existing under the laws of New Jersey (“Merck”). 
 RECITALS: 

WHEREAS, Company owns or has rights to certain intellectual property relating to its proprietary chimeric antigen receptor natural killer
(“NK”) cell technology and NK cell therapy manufacturing platform; 
 WHEREAS, Merck has expertise in the research, development and
commercialization of pharmaceutical products and is interested in working with Company to discover, develop and manufacture CAR-NK Cells (as hereinafter defined) that target certain solid tumor targets; 

WHEREAS, Merck and Company desire to collaborate in the Research Programs (as hereinafter defined) upon the terms and conditions set forth herein; 

WHEREAS, Merck desires to obtain licenses under the Company’s rights to certain intellectual property (including those resulting from the Research
Programs) in order to develop and commercialize Licensed Products (as hereinafter defined) upon the terms and conditions set forth herein, and Company desires to grant such licenses; 

WHEREAS, Company and GCLC (as hereinafter defined) have entered into certain agreements (including the Partnered Program Agreement) under which Company
has obtained exclusive, worldwide rights to GCLC’s CAR-NK technology with respect to Licensed Products in the Field and engaged GCLC to perform services in support of the Research Program; 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants contained herein, the receipt and sufficiency of which are hereby
acknowledged, Company and Merck hereby agree as follows: 
 ARTICLE 1    DEFINITIONS. 

Unless specifically set forth to the contrary herein, the following terms, whether used in the singular or plural, shall have the respective meanings set forth
below. 
  

	1.1	 “AAALAC” shall mean the Association for Assessment and Accreditation of Laboratory Animal Care
International. 

  

	1.2	 “Act” shall mean, as applicable, the United States Federal Food, Drug and Cosmetic Act, 21
U.S.C. §§ 301 et seq., and/or the Public Health Service Act, 42 U.S.C. §§ 262 et seq., as amended from time to time. 

  
 1 

	1.3	 “Affiliate” shall mean, with respect to a Person, (i) any corporation or business entity
of which fifty percent (50%) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership interest are owned, controlled or held, directly or indirectly, by such Person; or (ii) any
corporation or business entity which, directly or indirectly, owns, controls or holds fifty percent (50%) (or the maximum ownership interest permitted by law) or more of the securities or other ownership interests representing the equity, the voting
stock or, if applicable, the general partnership interest, of such Person; or (iii) any corporation or business entity of which, now or hereafter, fifty percent (50%) or more of the securities or other ownership interests representing the
equity, the voting stock or general partnership interest are owned, controlled or held, directly or indirectly, by a corporation or business entity described in (i) or (ii), in each case, for so long as such corporation or business entity meets
the requirements in (i), (ii), or (iii) above. 

  

	1.4	 “Agreement” shall have the meaning given to such term in the preamble to this document.

  

	1.5	 “Antibody Binder(s)” shall mean the [***] of any and all [***] from an
antibody directed to a Collaboration Target, that, in each case (i) are Controlled by a Party [***] or (ii) are generated by or on behalf of a [***]. For clarity, the [***] as used in the foregoing sentence shall include [***].

  

	1.6	 “Antibody Binder IP” shall mean all (i) Collaboration Information and Inventions that are
[***], but are not [***], and (ii) Patent Rights reciting, claiming, or covering such Collaboration Information and Inventions described in clause (i) [***]. 

 

	1.7	 “Calendar Quarter” shall mean the respective periods of three
(3) consecutive calendar months ending on March 31, June 30, September 30 and December 31. 

  

	1.8	 “Calendar Year” shall mean each successive period of twelve (12) months commencing on
January 1 and ending on December 31. 

  

	1.9	 “CAR-NK Cell” shall mean a NK cell expressing a
Chimeric Antigen Receptor. 

  

	1.10	 “Chimeric Antigen Receptor” or “CAR” shall mean an [***] antigen receptor
composed of [***]: (i) an antigen recognition domain (ii) an extracellular hinge region, (iii) a transmembrane domain, and (iv) an intracellular signaling domain, [***]. 

  
 2 

	1.11	 “Clinical Trial” shall mean a Phase I Clinical Trial, Phase II Clinical Trial, Phase III
Clinical Trial, or Post-approval Clinical Trial. 

  

	1.12	 “CMC” shall mean chemistry, manufacture and controls. 

 

	1.13	 “CMO” shall mean a contract manufacturing organization. 

 

	1.14	 “Collaboration Candidate” shall mean, with respect to a Collaboration Target, any CAR-NK Cell that (i) is generated by or on behalf of Company and/or Merck [***], (ii) targets the Collaboration Target, and (iii) is designated by the JRCC as [***] in accordance with the criteria
described in each Research Plan for such designations. 

  

	1.15	 “Collaboration Candidate IP” shall mean all: (i) Collaboration Information and Inventions
that are [***], and (ii) Patent Rights reciting, claiming, or covering such Collaboration Information and Inventions described in clause (i); [***]. 

  

	1.16	 “Collaboration Information and Inventions” shall mean, with respect to a given Collaboration
Target and its Research Program, all (i) Research Information and (ii) Inventions. 

  

	1.17	 “Collaboration Target” shall mean a solid tumor associated antigen, which
is the subject of a Research Program pursuant to Section 2.1. For the first Research Program, the Collaboration Target shall be [***]. The Collaboration Targets for the additional Programs shall be identified pursuant to Sections 2.1.2 and
2.1.3. 

  

	1.18	 “Combination Product” shall mean a Licensed Product that includes one or more active
ingredients other than a Collaboration Candidate in combination with the Collaboration Candidate and sold at a single price. In no event shall Company grant rights to Merck hereunder with respect to any active ingredient of a Combination Product
other than a Collaboration Candidate. 

  

	1.19	 “Commercially Reasonable Efforts” shall mean, with respect to the efforts to be
expended by a Party with respect to any objective, [***]. It is understood and agreed that with respect to the research, development, manufacture, commercialization, and sale of Licensed Product by a Party, such efforts shall be [***].

  
 3 

 [***]. 
  

	1.20	 “Company” shall have the meaning given to such term in the preamble to this Agreement.

  

	1.21	 “Company Background IP” shall mean (a) all
Know-How and Patent Rights Controlled by Company [***] that are necessary or reasonably useful to [***] develop, make, have made, use, import, offer to sell and sell Licensed Products [***], including the
Patent Rights in Schedule 8.2.11, and (b) all Know-How and Patent Rights Controlled by Company [***]. 

  

	1.22	 “Conflict” shall mean with respect to any solid tumor associated antigen that is proposed as a
Collaboration Target by Merck for the second Research Program or third Research Program under Section 2.1.2 or Section 2.1.3, as applicable, that as of the date of such proposal by Merck, such solid tumor associated antigen is: [***].

  

	1.23	 “Control” or “Controlled” shall mean, with respect to any compound, material,
Information or intellectual property right, that the Party has the legal authority or right (whether by ownership, license or otherwise but without taking into account any rights granted by one Party to the other Party pursuant to this Agreement) to
grant to the other Party access, a license or a sublicense (as applicable) to such compound, material, Information or intellectual property right as provided for herein without violating the terms of any agreement or other arrangements with any
other entity existing at the time such Party would be first required hereunder to grant the other Party such access, license or sublicense. 

  

	1.24	 “Engineered Feeder Cells” shall mean the [***] used to manufacture Collaboration Candidates
([***]) and transferred to Merck during Technology Transfer as described in 5.2.2. 

  

	1.25	 “European Major Market” shall mean any each of the following countries: [***].

  

	1.26	 “FDA” shall mean the United States Food and Drug Administration or any successor governmental
authority having substantially the same function. 

  

	1.27	 “Field” shall mean any and all uses. 

 

	1.28	 “First Commercial Sale” shall mean, with respect to any Licensed Product, the first sale by
Merck or any of its Related Parties to a Third Party that is not a Related Party for end use or consumption 

  
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of such Licensed Product in a country, excluding, however, any sale or other distribution at cost or free of charge for use in a Clinical Trial. 

 

	1.29	 “Full Time Equivalent” or “FTE” shall mean the equivalent of a full-time
scientist’s work time over a twelve-month period (including normal vacations, sick days and holidays). The portion of an FTE year devoted by a scientist to the Research Program shall be determined by dividing the number of full days during any
twelve-month period devoted by such employee to the Research Program by the total number of working days during such twelve-month period. 

  

	1.30	 “GCC” shall mean Green Cross Cell Corporation. 

 

	1.31	 “GCLC” shall mean Green Cross LabCell Corporation. 

 

	1.32	 “Good Clinical Practices” shall mean applicable then-current Good Clinical Practices as such
term or its equivalent is defined from time to time by the FDA or other relevant Regulatory Authority having jurisdiction over the development, manufacture or sale of Licensed Products in the Territory pursuant to its regulations, guidelines or
otherwise, as applicable. 

  

	1.33	 “GLP” or “Good Laboratory Practice” shall mean the applicable then-current
standards for laboratory activities for pharmaceuticals or biologicals, as set forth in the Act and any regulations or guidance documents promulgated thereunder, as amended from time to time, together with any similar standards of good laboratory
practice as are required by any Regulatory Authority in the Territory. 

  

	1.34	 “GMP” or “Good Manufacturing Practices” shall mean applicable then-current
Good Manufacturing Practices as such term or its equivalent is defined from time to time by the FDA or other relevant Regulatory Authority having jurisdiction over the development, manufacture or sale of Licensed Products in the Territory pursuant
to its regulations, guidelines or otherwise, as applicable. 

  

	1.35	 “Handoff CAR-NK Success Criteria” shall have the
meaning given to such term in the Research Plan for the applicable Research Program. 

  

	1.36	 “IND” shall mean an Investigational New Drug application, Clinical Study Application, Clinical
Trial Exemption, or similar application or submission for approval to conduct human clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirements of such Regulatory Authority. 

 

	1.37	 “IND Enabling Studies” shall mean such studies as are specified in the Research Plan that
satisfy applicable regulatory requirements, using applicable GLPs, and meeting the standard necessary for submissions as part of an IND filing with the applicable Regulatory Authority (which standard shall include the requirements as may be set
forth by such Regulatory Authority in applicable pre-IND meeting(s)). 

  

	1.38	 “Indication” shall mean a separate and distinct disease or medical condition in humans [***],
which a Licensed Product is intended to treat, prevent or diagnose or for which a separate NDA or a supplement to an existing NDA is required for the purpose of obtaining Marketing Authorization in a country. 

  
 5 

 [***]. 
  

	1.39	 “Information” shall mean any and all information and data and all other scientific, pre-clinical, clinical, regulatory, manufacturing, marketing, financial and commercial information or data, whether communicated in writing or orally or by any other method, which is provided by one Party to the
other Party in connection with this Agreement. 

  

	1.40	 “Initiates”, “Initiated” or “Initiation” shall mean, with
respect to a Clinical Trial, the administration of the first dose to the first patient in such Clinical Trial. 

  

	1.41	 “Invention” shall mean, on a Research Program-by-Research Program basis, any process, method, composition of matter, article of manufacture, discovery, finding, or other invention, patentable or otherwise, that is conceived or reduced to practice
in the course of, or as a result of, the Research Program [***]. 

  

	1.42	 “Joint Collaboration Information and Inventions” shall have the meaning given to such term in
Section 2.12.1. 

  

	1.43	 “Joint Patent Rights” shall mean any and all Patent Rights that claim or cover Joint
Collaboration Information and Inventions. 

  

	1.44	 “JRCC” shall mean the Joint Research and CMC Committee established to facilitate
the Research Program(s) as more fully described in Section 2.8. 

  

	1.45	 “Know-How” shall mean any
proprietary scientific or technical information, results and data of any type whatsoever, in any tangible or intangible form whatsoever, including databases, safety information, practices, methods, techniques, specifications, formulations, formulae,
knowledge, know-how, skill, experience, test data including pharmacological, medicinal chemistry, biological, chemical, biochemical, toxicological and clinical test data, analytical and quality control data,
stability data, studies and procedures, and manufacturing process and development information, results and data. 

  

	1.46	 “Licensed Product(s)” shall mean any pharmaceutical or biological product or therapy[***]
which contains or comprises a Collaboration Candidate, (i) [***] (ii) for sale by prescription, over the counter or any other method; or (iii) for administration to human patients in a Clinical Trial, for any and all uses in the Field,
including any Combination Product. 

  

	1.47	 “Major Market” shall mean each of the following countries: [***]. 

 

	1.48	 “Marketing Authorization” shall mean all approvals from the relevant Regulatory Authority
necessary to market and sell a Licensed Product in any country (including all pricing and governmental reimbursement approvals legally required or otherwise commercially beneficial to sell Licensed Product in a country). 

  
 6 

	1.49	 “Marketing Authorization in Europe” shall mean Marketing Authorization in [***] European Major
Markets. 

  

	1.50	 “Merck” shall have the meaning given such term in the preamble to this Agreement.

  

	1.51	 “Merck Background IP” shall mean all intellectual property Controlled by Merck or any
of its Affiliates that Merck, its Affiliates, or persons working on their behalf makes available to Company, its Affiliates, or persons working on their behalf for the performance of their obligations under a Research Program[***]. For clarity,
Merck Background IP includes any [***] and are provided by Merck to the Research Program(s). 

  

	1.52	 “[***]” shall mean (i) all protocols, formulas, data,
know-how and trade secrets, or (ii) any process, method, composition of matter, article of manufacture, discovery, finding, or other invention, patentable or otherwise, in each case of (i) and (ii)
that are conceived or reduced to practice by or on behalf of Merck in the course of [***] or [***]involving [***] as contemplated under this Agreement [***].  

 

	1.53	 “Modifications” shall mean, with respect to a Licensed Product, [***].

  

	1.54	 “NDA” shall mean a New Drug Application, Biologics License Application, Marketing
Authorization Application, filing pursuant to Section 510(k) of the Act, or equivalent application or submission filed with a Regulatory Authority to obtain marketing approval for a biological, pharmaceutical or diagnostic product in a country
or in a group of countries. 

  

	1.55	 “Net Sales” shall mean the gross invoice price (not including value added
taxes, sales taxes, or similar taxes) of Licensed Product sold by Merck or its Related Parties to the first Third Party that is not a Related Party after deducting, if not previously deducted, from the amount invoiced or received:

  

	1.55.1	 [***]; 

  
 7 

	155.2	 [***]; 

  

	155.3	 [***]; 

  

	155.4	 [***]; 

  

	155.5	 [***]; 

  

	155.6	 [***]; and 

  

	155.7	 [***]. 

With respect to sales of Combination Products, Net Sales shall be calculated on the basis of the gross invoice price of Licensed Product(s)
containing the same Collaboration Candidate sold without other active ingredients. In the event that Combination Product is sold only as a Combination Product, [***]. 
  

	1.56	 “NK” shall have the meaning given to such term in the recitals to this document.

  

	1.57	 “Other Collaboration IP” shall mean: (i) all Collaboration Information and Inventions
that are [***], and (ii) Patent Rights claiming, or covering such Collaboration Information and Inventions described in clause (i). 

  

	1.58	 “Partnered Program Agreement” shall mean that certain Merck Partnered Product Research
Services and License Agreement, dated as of January 27, 2021, between Company and GCLC. 

  

	1.59	 “Party” shall mean Merck or Company, individually, and “Parties” shall
mean Merck and Company, collectively. 

  

	1.60	 “Patent Rights” shall mean any and all patents and patent applications
(which for the purpose of this Agreement shall be deemed to include certificates of invention and applications for certificates of invention), including divisionals, continuations,
continuations-in-part, reissues, renewals, substitutions, registrations, re-examinations, revalidations, extensions,
supplementary protection certificates, and the like of any such patents and patent applications, and foreign equivalents of any of the foregoing. 

  

	1.61	 “Person” means any individual, partnership, joint venture, limited
liability company, corporation, firm, trust, association, unincorporated organization, governmental authority or agency, or any other entity not specifically listed herein. 

 

	1.62	 “Phase I Clinical Trial” shall mean a human clinical trial of an investigational product that
would satisfy the requirements of 21 CFR 312.21(a) in the United States or the requirements of the relevant Regulatory Authority in a country other than the United States, as applicable. 

  
 8 

	1.63	 “Phase II Clinical Trial” shall mean a human clinical trial of an investigational product that
would satisfy the requirements of 21 CFR 312.21(b) in the United States or the requirements of the relevant Regulatory Authority in a country other than the United States, as applicable. 

 

	1.64	 “Phase III Clinical Trial” shall mean a human clinical trial of an investigational product
that would satisfy the requirements of 21 CFR 312.21(c) in the United States or the requirements of the relevant Regulatory Authority in a country other than the United States, as applicable. 

 

	1.65	 “Platform IP” shall mean all: (i) Collaboration Information
and Inventions that are [***], and (ii) Patent Rights reciting, claiming, or covering such Collaboration Information and Inventions described in clause (i) that [***]. 

 

	1.66	 “Research” shall mean any research activities performed by or on behalf of Merck [***].

  

	1.67	 “Research Information” shall mean, on a Research Program-by-Research Program basis, all protocols, formulas, data, know-how and trade secrets that are conceived or reduced to practice in the course of, or as a result
of, the Research Program [***]. 

  

	1.68	 “Regulatory Authority” shall mean any applicable government regulatory authority involved in
granting approvals for the manufacturing, marketing, reimbursement and/or pricing of pharmaceutical products (including a Licensed Product) in a given jurisdiction in the Territory, including, in the United States, the FDA. 

 

	1.69	 “Related Party” shall mean each of Merck, its Affiliates, and their
respective sublicensees (which term does not include Third Parties acting solely as distributors), as applicable. 

  
 9 

	1.70	 “Research Plan” shall mean the research, preclinical development and CMC plan (including the
associated budget) for each Research Program, as may be amended. The Research Plan for the first Research Program is attached hereto as Schedule 2.1.1. 

 

	1.71	 “Research Program” shall mean the research and CMC activities to be undertaken by the Parties
to develop CAR-NK Cells directed to a given Collaboration Target pursuant to Article 2 and the Research Plan. 

  

	1.72	 “Research Program Term” shall mean the duration of the Research Program, as described more
fully in Section 2.4. 

  

	1.73	 “Royalty Term” shall mean, on a Licensed Product-by-Licensed Product and country-by-country basis, the period commencing upon the First Commercial Sale of a Licensed
Product in a country by Merck or its Related Parties and ending upon the later of (i) the expiration of the last to expire Valid Patent Claim, or (ii) ten (10) years after the First Commercial Sale of such Licensed Product in such country.

  

	1.74	 “Technology Transfer” shall have the meaning given to such term in Section 5.2.2.

  

	1.75	 “Terminated Target” shall have the meaning given to such term in Section 11.2.2(c).

  

	1.76	 “Territory” shall mean all of the countries in the world, and their territories and
possessions. 

  

	1.77	 “Third Party” shall mean an entity other than Merck and its
Affiliates, and Company and its Affiliates. For the avoidance of doubt, any Green Cross affiliated companies, including GCLC, GCC and Green Cross Pharma, shall be Third Parties for the purposes of this Agreement (unless otherwise specified).

  

	1.78	 “Valid Patent Claim” shall mean a claim of an issued, unexpired, and in-force patent included within the [***] that claims [***] as a composition of matter, which claim has not been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of
competent jurisdiction (which decision is not appealable or has not been appealed within the time allowed for appeal), and which claim has not been disclaimed, denied or admitted to be invalid or unenforceable through reissue, re-examination, supplemental examination, or disclaimer or otherwise. 

  

	1.79	 “Violation” shall mean that a Party, or any of its respective officers or directors has been:
(a) convicted of any of the felonies identified among the exclusion authorities listed on the U.S. Department of Health and Human Services, Office of Inspector General (OIG) website, including 42 U.S.C.
1320a-7(a) (https://oig.hhs.gov/exclusions/index.asp); and/or (b) identified in the OIG List of Excluded Individuals/Entities (LEIE) database
(https://oig.hhs.gov/exclusions/exclusions_list.asp) or the U.S. General Services Administration’s list of Parties Excluded from Federal Programs (https://www.sam.gov/portal/public/SAM/) (each of (a) and (b), singly and
collectively, the “Exclusions Lists”). 

  
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 ARTICLE 2     RESEARCH PROGRAMS 

 

	2.1	 Research Programs. Company and Merck shall engage in up to three (3) Research Programs upon
the terms and conditions set forth in this Agreement. The activities to be undertaken by or on behalf each Party in the course of each Research Program will be set forth in a corresponding Research Plan, which may be amended from time to time upon
mutual written agreement by authorized representative(s) of the Parties. Each Research Program will have the objective of developing a Collaboration Candidate directed to each Collaboration Target and advancing such Collaboration Candidate through
IND Enabling Studies.  

  

	 	2.1.1	 First Research Program. The Collaboration Target of the first Research Program shall be [***].
The Research Plan (including the budget) for the first Research Program is attached hereto as Schedule 2.1.1 which may be revised from time to time by JRCC. 

 

	 	2.1.2	 Second Research Program. Within [***] after the Effective Date, Merck may propose a solid tumor
associated antigen as a Collaboration Target for the second Research Program by providing written notice of such proposed Collaboration Target to Company. If such solid tumor associated antigen is a Reserved Target, then Company shall confirm within
[***] business days after the receipt of Merck’s proposal its acceptance that such solid tumor associated antigen is the Collaboration Target for the second Research Program. If such solid tumor associated antigen is not a Reserved Target, then
Company shall notify Merck within [***] business days from receipt of such notice if, in its reasonable determination, there is a Conflict with respect to the proposed Collaboration Target. 

 

	 	(a)	 If Company notifies Merck that there is a Conflict within the [***] business day period, the proposed
Collaboration Target shall not become the Collaboration Target of the second Research Program. Merck may continue to propose other solid tumor associated antigens as Collaboration Targets to Company for the second Research Program during the [***]
period after the Effective Date until Company does not have a Conflict for the proposed Collaboration Target; provided that if [***] or more solid tumor associated antigens proposed by Merck as the Collaboration Target are not chosen as the
Collaboration Target due to a Conflict, then the period for Merck to nominate the second Collaboration Target shall be automatically extended for up to a period of [***] and Merck shall have the right to propose additional solid tumor associated
antigens as the Collaboration Target for the second Research Program until the Parties can mutually determine the Collaboration Target for the second Research Program. 

 

	 	(b)	 If Company does not notify Merck that there is a Conflict within [***] business days after the written proposal
by Merck, the proposed Collaboration Target shall be deemed accepted by Company, and such Collaboration Target shall become a Collaboration Target for any and all purposes under this Agreement and the Collaboration Target for the second Research
Program. 

  

	 	(c)	 Promptly after the determination of the Collaboration Target for the second Research Program, the Parties shall
discuss and finalize a Research Plan (including the budget) for the second Research Program, and the final, approved Research Plan for the second Research Program shall be included in this Agreement by way of an amendment to this Agreement entered
into between the Parties incorporating 

  
 11 

	 	
such Research Plan as part thereof, by no later than [***] days of such determination of the second Collaboration Target; provided, that unless otherwise agreed between the Parties, the
Research Plan for the second Research Program shall be substantially similar to the Research Plan for the first Research Program as set forth on Schedule 2.1.1 (except with respect to the adjustments made for the second Collaboration Target
and the Antibody Binders targeting such Collaboration Target). 

  

	 	2.1.3	 Third Research Program. Within [***] after the Effective Date, Merck may propose a solid tumor
associated antigen as a Collaboration Target for the third Research Program by providing written notice of such proposed Collaboration Target to Company. If such solid tumor associated antigen is a Reserved Target, then Company shall confirm within
[***] business days after the receipt of Merck’s proposal its acceptance that such solid tumor associated antigen is the Collaboration Target for the third Research Program. If such solid tumor associated antigen is not a Reserved Target, then
Company shall notify Merck within [***] business days from receipt of such notice if, in its reasonable determination, there is a Conflict with respect to the proposed Collaboration Target. If Company does not notify Merck that there is a Conflict
within [***] business days after receipt of such notice, the proposed Collaboration Target shall be deemed accepted by Company, and such Collaboration Target shall become a Collaboration Target for any and all purposes under this Agreement and the
Collaboration Target for the third Research Program. Any Conflicts reasonably determined by Company with respect to the third Collaboration Target proposed by Merck under this Section 2.1.3 shall be treated, mutatis mutandis, in
accordance with Section 2.1.2. Upon the Parties’ final determination of the Collaboration Target for the third Research Program pursuant to this Section 2.1.3: the Parties shall discuss and finalize a Research Plan for the third
Research Program, and the final, approved Research Plan (including the budget) for the third Research Program shall be included in this Agreement by way of an amendment to this Agreement entered into between the Parties incorporating such Research
Plan as part thereof, by no later than [***] days of such determination of the third Collaboration Target; provided, that unless otherwise agreed between the Parties, the Research Plan for the third Research Program shall be substantially
similar to the Research Plan for the first Research Program as set forth on Schedule 2.1.1 (except with respect to the adjustments made for the third Collaboration Target and the Antibody Binders targeting such Collaboration Target).

  

	2.2	 Pre-Disclosed Targets. Company acknowledges that as of
the Effective Date Merck has disclosed to Company the targets listed on Schedule 2.2 (each, a “Reserved Target”) as potential Collaboration Targets. [***]. For clarity, once the Collaboration Targets have been agreed
upon for all three Research Programs, any remaining Reserved Targets shall cease to be a Reserved Target. In the event Company or GCLC wishes to initiate any internal research program or engage in any discussions with a Third Party regarding the
research, development or commercialization of CAR-NK cells or products containing CAR-NK cells directed to a Reserved Target (such target, “Company Proposed
Target”), Company shall notify Merck in writing that Company has designated a Reserved Target as a Company Proposed Target. Merck shall have [***] days from the date of such notification to notify Company that such Reserved Target become
the second Collaboration Target or third 

  
 12 

	 	
Collaboration Target, as applicable, and effective as of said notice by Merck, the Company Proposed Target shall become the second Collaboration Target or third Collaboration Target, as the case
may be. If Merck does not deliver such notice to Company within such [***] day period, such target shall cease to be a Reserved Target and Company or GCLC shall be free to initiate such internal research program or engage in such discussions
with Third Parties, and the Company Proposed Target shall be deemed to have a Conflict and become unavailable for Merck’s election as the second Collaboration Target or third Collaboration Target. 

 

	2.3	 Substitution. For [***], Merck shall have a one-time
right during the [***] period following the commencement date of the applicable Research Program Term to substitute another solid tumor target for the applicable Collaboration Target by written notice to Company, subject to the clearance of such
substitute Collaboration Target (“Substitute Target”) for any Conflict through the process set forth above in Section 2.1.2. Upon determination of the Substitute Target as the new Collaboration Target for [***], the Parties
shall draft and finalize a new Research Plan reflecting the new Collaboration Target for each applicable Research Program, and the new Research Plan will be incorporated into this Agreement by an amendment thereto entered into between the Parties by
no later than [***] days of the determination of the new Collaboration Target. The new Research Plan with the Substitute Target shall provide for a new budget in support thereof, and upon adoption of the new Research Plan, Merck shall reimburse
Company for its costs actually incurred in accordance with the new Research Plan and associated budget pursuant to Section 2.7; provided, that the new budget shall be subject to [***]. Upon any substitution of a Collaboration Target in
accordance with this Section 2.3, the Collaboration Target that was replaced shall no longer be a Collaboration Target under this Agreement, and as such shall not be included within the exclusivity obligations set forth in Section 2.13,
and the terms of Section 11.2.2(c) shall apply with respect to the replaced target as if such target were the Terminated Target. 

  

	2.4	 Research Program Term. Except as otherwise provided herein, the term of the Research Program for
the first Collaboration Target shall commence on the Effective Date and continue for a period of [***] thereafter, and the term of the Research Program for the second Collaboration Target and third Collaboration Target respectively shall commence on
the date that this Agreement is amended to include the applicable Research Plan for such second or third Collaboration Target and continue for [***] thereafter. The Research Program Term for each Research Program may be extended by mutual written
agreement of the Parties, and the corresponding Research Plan and associated budget therewith shall be amended to reflect the extension. Further, the Research Program Term of the first Research Program or second Research Program, as the case may be,
will reset upon substitution of the Collaboration Target therefor under Section 2.3 and will continue for a period of [***] (or whichever time period is designated in the new Research Plan for the Substitute Target) following the date of the
amendment to this Agreement incorporating the new Research Plan for the Substitute Target. 

  

	2.5	 Conduct of Research Program. Each of Company and Merck and their respective Affiliates or Third Parties
performing services on behalf of such Party shall in good faith conduct the work to be performed by or on behalf of Company or Merck, as applicable, as set out in the applicable Research Plan during the Research Program Term by using their
respective Commercially Reasonable Efforts to accomplish the objectives of the Research Program in accordance with the terms of this Agreement and the applicable Research Plan. 

  
 13 

	2.6	 Use of Affiliates and Third Parties. Merck shall be entitled to utilize the services of its
Affiliates and Third Parties to conduct each Research Program to be performed by or on behalf of Merck as set out in the applicable Research Plan, provided that, prior to the earlier of the expiration of the Research Program Term or the Technology
Transfer, [***] Company shall be entitled to utilize the service of Third Parties to conduct each Research Program [***] as specifically set forth in the applicable Research Plan. Notwithstanding the foregoing, each Party shall remain at all times
fully liable for its respective responsibilities under the Research Program. 

  

	2.7	 Research Program Funding. During the Research Program Term for each Research Program, Merck will
provide Company with research funding consistent with the agreed budget for such Research Program and as specifically set forth in Section 7.1. The budget for the first Research Program is set forth Schedule 2.1.1 attached hereto.
Company shall apply the research funding it receives from Merck under this Agreement solely to carry out its activities in the Research Program in accordance with the Research Plan and the terms and conditions of this Agreement. For clarity, Merck
shall not be required to fund any additional FTEs after the end of the Research Program Term and Company shall not be required to conduct further activities after the end of the Research Program Term if Merck declines to fund such further
activities. 

  

	2.8	 Governance. The Parties hereby establish a committee, and shall establish as soon as possible
working groups after commencement of the Research Program Term for each Research Program, to facilitate the Research Programs as follows (and as further detailed in the Research Plans): 

 

	 	2.8.1	 JRCC. 

  

	 	(a)	 Composition of the Joint Research Committee; Decision-Making. The Research Programs shall be conducted
under the direction of a joint research and CMC committee (the “JRCC”) comprised of an equal number of representatives from Merck (or its Affiliates, as applicable) and from Company. The Merck representatives on the JRCC shall
initially be [***] representatives. Each Party may change its representatives to the JRCC from time to time in its sole discretion, effective upon notice to the other Party of such change; [***] The JRCC representatives from each Party shall have
appropriate technical credentials, experience and knowledge, and ongoing familiarity with the Research Programs. Additional representative(s) or consultant(s) may from time to time, by mutual consent of the Parties, be invited to attend JRCC
meetings, subject to such representative’s or consultant’s written agreement to comply with the requirements of Section 6.1. The JRCC shall be chaired by a representative of [***]. Decisions of the JRCC shall be made unanimously by
the representatives, whereby the representatives of Merck shall have one vote collectively, and the representatives of Company shall have one vote collectively; provided, however, that in the event that the JRCC cannot or does not,
after reasonable efforts, reach agreement on an issue [***] after such matter has been referred to the JRCC, then the matter shall be escalated to [***] (or their respective designees) (collectively, the “Executives”),
who shall endeavor to facilitate a resolution of such matter. In the event that the Executives are unable to resolve the issue [***] after 

  
 14 

	 	
it has been escalated to the Executives, then the resolution or course of conduct shall be determined by [***]. 

 

	 	(b)	 Scope of JRCC Oversight. The JRCC would provide a forum for the Parties to discuss progress, address
issues and share information relating to the Research Plan during the Research Program Term of a given Research Program which may be extended upon mutual written agreement of the Parties. The JRCC shall be responsible for overseeing the Research
Program, including to (i) review and amend the Research Plan from time to time, (ii) review and coordinate the Parties’ activities under the Research Program, (iii) confer regarding the status of the Research Program and the
progress under the Research Program and to make determinations and decisions in connection with the activities under the Research Program (including issues of priority), (iv) review relevant data under the Research Program, (v) consider and
advise on any technical issues that arise under the Research Program, (vi) review and approve the budget for each subsequent twelve-month period of a Research Program by [***] days prior to the beginning of such subsequent twelve month period,
(vii) determine whether a particular Collaboration Candidate has met the Handoff CAR-NK Success Criteria; and (viii) to determine such other matters as allocated to the JRCC hereunder. The JRCC shall
not have the authority to: (w) modify or amend the terms and conditions of this Agreement; (x) waive either Party’s compliance with the terms and conditions of this Agreement; (y) determine any issue in a manner that would
conflict with the express terms and conditions of this Agreement; or (z) amend the Research Plan or take any other action that would (A) allocate the responsibility between the Parties under the Research Program in a manner that would
[***]; or (B) increase the financial or other resource (i.e., FTEs) obligations imposed on the Company beyond the scope of those in the then-current budget included in the Research Plan, which shall in each case be subject to the mutual
agreement of the Parties in writing (including mutual agreement on the number of additional FTEs of Company needed to perform such work and to be funded by Merck in accordance with Section 7.1). 

 

	 	2.8.2	 Working Groups. For each Research Program, the Parties shall form (i) a joint research working
group (“Joint Research Working Group”) [***]; and (ii) a joint CMC working group (“Joint CMC Working Group”, and together with Joint Research Working Group, “Joint Working Groups”) [***] to [***].

  
 15 

 The Joint Research Working Group will be co-led by
[***] program leaders: [***]. The Joint CMC Working Group will be co-led by [***] program leaders (together with the program leaders for the Joint Research Working Group, “Program Leaders”):
[***]. The Program Leaders shall be the primary contacts with respect to the Research Programs. The Joint Working Groups shall have no decision-making authority and shall only make recommendations to the JRCC for approval. Other preferred
consultants with area-specific expertise, by mutual consent of the Parties, may be invited to the Joint Working Group(s). At the discretion of the JRCC, the Program Leaders may attend the meetings of the JRCC in a
non-voting capacity. 
  

	 	2.8.3	 Meetings. 

  

	 	(a)	 During the Research Program Term of each Research Program, the JRCC shall meet in accordance with a
schedule established by mutual written agreement of the Parties, but no less frequently than once per Calendar Quarter, with the location for such meetings alternating between Company and Merck facilities (or such other location may be determined by
the JRCC). Alternatively, the JRCC may meet by means of teleconference, videoconference or other similar communications equipment. The JRCC shall confer regarding the status of the Research Program, review relevant data, consider and advise on any
technical issues that arise, consider issues of priority, and review and advise on any budgetary and economic matters relating to the Research Program which may be referred to the JRCC. Each Party shall bear its own expenses related to the
attendance of such meetings by its representatives.  

  

	 	(b)	 During the Research Program Term of each Research Program, the Joint Working Groups shall meet at least
monthly, or more frequently as mutually agreed by the Parties. 

  

	 	2.8.4	 Disbandment of JRCC and Joint Working Groups. Except as otherwise agreed in writing by the Parties,
following the expiration or termination of the last to expire Research Program Term, the JRCC and the Joint Working Groups shall be disbanded and shall have no further authority with respect to the activities hereunder. 

 

	2.9	 Alliance Managers. 

 

	 	2.9.1	 Appointment. Each Party shall appoint an employee who shall oversee interactions between the Parties for
all matters related to this Agreement (each an “Alliance Manager”); provided that, if Company wishes to appoint a non-employee consultant as its Alliance Manager, such appointment shall be
subject to Merck’s prior written consent (which consent not to be unreasonably withheld or delayed) and the consultant shall be under confidentiality, non-use and other similar obligations commensurate to
those Company employees are subject. Such persons shall endeavor to ensure clear and responsive communication between the Parties and the effective exchange of information, 

  
 16 

	 	
and may serve as a single point of contact for any matters arising under this Agreement (except in the instance of Research Programs matters which will be handled by the Program Leaders). The
Alliance Managers shall have the right to attend all JRCC and Joint Working Group meetings as non-voting participants and may bring to the attention of the JRCC any matters or issues either of them reasonably
believes should be discussed, and shall have such other responsibilities as the Parties may mutually agree in writing. Each Party may designate different Alliance Managers by notice in writing to the other Party. 

 

	 	2.9.2	 Responsibilities of the Alliance Managers. The Alliance Managers, if appointed, shall have the
responsibility of creating and maintaining a constructive work environment between the Parties. Without limiting the generality of the foregoing, each Alliance Manager shall: 

 

	 	(a)	 identify and bring disputes and issues that may result in disputes (including any asserted occurrence of a
material breach by a Party) to the attention of the JRCC in a timely manner, and function as the point of first referral in all matters of conflict resolution; 

 

	 	(b)	 provide a single point of communication for seeking consensus both internally within the Parties’
respective organizations and between the Parties; 

  

	 	(c)	 plan and coordinate cooperative efforts, internal communications and external communications between the
Parties with respect to this Agreement; and 

  

	 	(d)	 take responsibility for ensuring that meetings and the production of meeting agendas and minutes occur as set
forth in this Agreement, and that relevant action items resulting from such meetings are appropriately carried out or otherwise addressed. 

  

	2.10	 Exchange of Information. As promptly as possible upon execution of this Agreement, and on
an ongoing basis during the term of a given Research Program and thereafter until the later of (i) the end of the Research Program Term or (ii) [***], each Party shall disclose to the other Party all Collaboration Information and Inventions
generated by or on behalf of such Party in a format agreed to between the Parties (e.g., an electronic data room). Further, with respect to Antibody Binder IP generated by or on behalf of Company, Company shall disclose [***] to Merck upon request
via the Joint Working Group or JRCC. 

  

	2.11	 Records and Reports. 

 

	 	2.11.1	 Records. Each Party shall maintain records, in sufficient detail and in good scientific manner
appropriate for patent and regulatory purposes, which shall fully and properly reflect all of its work done and results achieved in the performance of the Research Programs, including the work done and results achieved by any Affiliate or Third
Party on behalf of such Party. 

  

	 	2.11.2	 Copies and Inspection of Records. Merck shall have the right, during normal business hours and upon
reasonable notice, to inspect and copy all such records of Company or GCLC referred to in Section 2.11.1. Merck shall maintain such records and the information 

  
 17 

	 	
disclosed therein in confidence in accordance with Section 6.1. Merck shall have the right to arrange for its employee(s) and/or consultant(s) involved in the activities contemplated
hereunder to visit the offices and laboratories of Company and GCLC and any of their respective Third Party contractors as permitted under Section 2.6 during normal business hours and upon reasonable notice, and to discuss work under the
Research Program and their results in detail with the technical personnel and consultant(s) of Company. Upon Merck’s request, Company shall provide copies of the records described in Section 2.11.1, including obtaining copies of such
records from GCLC. 

  

	 	2.11.3	 [***] Reports. For each Research Program, within [***] days following the end of each [***] of
the Research Program Term and [***], Company shall provide to Merck a written progress report in English which shall describe the work performed to date on the Research Program by or on behalf of Company (including by GCLC or GCC), evaluate such
work performed in relation to the goals of the Research Program and provide such other information as may be necessary for the conduct of the Research Program or reasonably requested by Merck relating to the progress of the goals or performance of
the Research Program. [***] 

  

	2.12	 Collaboration Information and Inventions. 

 

	 	2.12.1	 A Party shall own (or in the case of Company, shall own or Control) any Collaboration Information and
Inventions developed or invented solely by employee(s) of such Party or its Affiliates or a Third Party acting on behalf of such Party or its Affiliates. Any Collaboration Information and Inventions developed or invented jointly by employee(s) of
Merck or its Affiliates or a Third Party acting on behalf of Merck or its Affiliates, and by employee(s) of Company or its Affiliates or a Third Party acting on behalf of Company or its Affiliates, shall be jointly owned by Merck and Company (such
Collaboration Information and Inventions, “Joint Collaboration Information and Inventions”); [***]. For the purposes of determining ownership under this Section 2.12, inventorship shall be determined in accordance with
United States patent laws (regardless of where the applicable activities occurred). Any Background IP of a given Party shall remain the property of such Party and not be affected by the Agreement. 

 

	 	2.12.2	 The Parties shall promptly disclose to each other the development, making, conception or reduction to
practice of Collaboration Information and Inventions. 

  

	 	2.12.3	 Subject to the licenses granted by Company under Sections 3.1.1, 3.1.2 and 3.1.3 and the other terms and
conditions of this Agreement, each Party shall have the non-exclusive right to exploit its interest in Joint Collaboration Information and Inventions and Joint Patent Rights, [***]; provided,
however, that for clarity, the foregoing joint ownership rights shall not be construed as granting, conveying or creating any license or other rights to the other Party’s intellectual property, unless otherwise expressly set forth in
this Agreement. 

  
 18 

	2.13	 Exclusive Efforts. During [***], Company shall work (even as to Company itself) exclusively with
Merck in [***], and shall not (and shall cause its Affiliates not to), directly or indirectly and alone or with Affiliates or Third Parties, research, develop, make, have made, use, sell, have sold or import any [***], except pursuant to, and
subject to the terms and conditions of, this Agreement. 

  

	2.14	 Materials. A Party shall provide the other Party with sufficient quantities of the materials
(including [***] that would be provided by or on behalf of Company), as described in the Research Plan (“Materials”) solely for the purpose of enabling the other Party to perform its activities under the Research Plan
in accordance with the terms of this Agreement. The Materials are not to be used in humans, nor shall any of the Materials, or any derivatives, analogs, modifications or components thereof be transferred, delivered or disclosed to any Third
Party without the prior written approval of the other Party. All Materials shall remain the sole property of the supplying Party. Except as expressly set forth in this Agreement, THE MATERIALS ARE PROVIDED “AS IS” AND WITHOUT ANY
REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE OR ANY WARRANTY THAT THE USE OF THE MATERIALS WILL NOT INFRINGE OR VIOLATE ANY PATENT OR OTHER PROPRIETARY
RIGHTS OF ANY THIRD PARTY. 

  

	2.15	 Compliance with Law and Ethical Business Practices. 

 

	 	2.15.1	 Each Party and its Affiliates shall conduct the Research Program in accordance with all applicable laws,
rules and regulations including all current governmental regulatory requirements concerning Good Laboratory Practices and Good Manufacturing Practices, as applicable. Each Party shall notify the other Party in writing of any deviations from
applicable regulatory or legal requirements. Each Party and its Affiliates hereby certify that it has not and will not knowingly employ or otherwise use in any capacity the services of any person or entity debarred under Section 21 USC 335a in
performing any activities with respect to the Research Program, Collaboration Candidates or Licensed Products hereunder. Each Party shall notify the other Party in writing immediately if any such debarment occurs or comes to its attention, and shall
promptly remove any person or entity so disbarred from performing any activities under the Research Programs, or function or capacity related to the Research Programs. Each Party shall have the right, in its sole discretion, to terminate this
Agreement immediately in the event of any such debarment with respect to the other Party. 

  

	 	2.15.2	 Artiva acknowledges that Merck’s corporate policy requires that Merck’s business must be
conducted within the letter and spirit of the law. By signing this Agreement, each Party agrees that it and its Affiliates will conduct the activities contemplated herein in a manner which is consistent with both applicable law and good business
ethics consistent with industry standards. 

  

	 	2.15.3	 Specifically, each Party warrants that none of its or its Affiliates’ employees, agents, officers
or other members of its management are officials, officers, agents, representatives of any government or international public organization. –NOTE: FOR A LIST OF “American institutions of research, public international
organizations and designations under the International Immunities Act” SEE Section 316.20 at http://www.ecfr.gov/cgi-

  
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bin/retrieveECFR?gp=&SID=d2739abeb6ca1764c5defa8607248f64&n=8y1.0.1.3.68&r=PART&ty=HTML#8:1.0.1.3.68.0.1.14. Neither Party nor its Affiliates shall make any payment, either
directly or indirectly, of money or other assets, including the compensation such Party derives from this Agreement (hereinafter collectively referred as a “Payment”), to government or political party officials, officials of
international public organizations, candidates for public office, or representatives of other businesses or persons acting on behalf of any of the foregoing (hereinafter collectively referred as “Officials”) where such Payment would
constitute violation of any law. In addition regardless of legality, neither Party or its Affiliates shall make any Payment either directly or indirectly to Officials if such Payment is for the purpose of influencing decisions or actions with
respect to the subject matter of this Agreement or any other aspect of the other Party’s business. 

  

	 	2.15.4	 Each Party acknowledges that no employee of the other Party or its Affiliates shall have authority to
give any direction, either written or oral, relating to the making of any commitment by such Party, its Affiliates or their respective agents to any Third Party in violation of terms of this or any other provisions of this Agreement.

  

	 	2.15.5	 Each Party certifies to the other Party that as of the date of this Agreement that such Party has
screened itself, and its officers, directors and employees against the Exclusions Lists and that it has informed the other Party whether such Party, or any of its officers or directors has been in Violation. After the execution of this Agreement,
each Party shall notify the other Party in writing immediately if any such Violation occurs or comes to its attention. 

  

	 	2.15.6	 The failure of a Party, its Affiliates and or any Third Parties acting on such Party’s behalf under
this Agreement to abide by the provisions of this Section 2.15 shall be deemed a material breach of this Agreement. The other Party may in such case and with immediate effect terminate this Agreement at its sole discretion upon written notice
to the breaching Party and without prejudice to any other remedies that may be available to the terminating Party. 

  

	 	2.15.7	 Each Party shall indemnify and hold the other Party and any of its Affiliates harmless from and against
any and all liabilities (including all costs and reasonable attorneys’ fees associated with defending against such claims) that may arise by reason of the acts or omissions of the indemnifying Party or its agents or other Third Parties acting
on the indemnifying Party’s behalf which would constitute a violation of this Section 2.15, except to the extent such claims result from the indemnified Party’s violation of this Section 2.15. 

 

	2.16	 Use of Human Materials. With respect to any NK cells to be used in the
CAR-NK Cell process and any human cell lines, tissue, human clinical isolates or similar human-derived materials (collectively, “Human Materials”) that have been or are to be collected or used
in the Research Programs, Company represents and warrants (i) that it has complied, or shall comply, with all applicable laws, guidelines and regulations relating to the collection or use of the Human Materials and (ii) that it has
obtained, or shall obtain, all necessary approvals and appropriate informed consents, in writing, for the collection or use of such Human Materials. Company shall provide documentation of such approvals and consents upon Merck’s request.
Company further represents and warrants that such Human Materials may be used as contemplated in this Agreement without any obligations to the individuals or entities who contributed the Human Materials (“Providers”), including any
obligations of compensation to such Providers for the intellectual property associated with, or commercial use of, the Human Materials for any purpose. 

  
 20 

	2.17	 Animal Research. If animals are used in research hereunder, each Party will comply with the Animal
Welfare Act or any other applicable local, state, national and international laws and regulations relating to the care and use of laboratory animals and shall use the highest standards, such as those set forth in the Guide for the Care and Use of
Laboratory Animals (NRC, 1996), for the humane handling, care and treatment of such research animals. Each Party hereby certifies that it has and shall maintain current and valid accreditation from AAALAC during the Term. Any animals which are used
in the course of the Research Programs, or products derived from those animals, such as eggs or milk, will not be used for food purposes, nor will these animals be used for commercial breeding purposes. 

ARTICLE 3    LICENSE GRANT. 
  

	3.1	 Company License Grant. 

 

	 	3.1.1	 Subject to the terms and conditions of this Agreement, Company hereby grants to Merck an exclusive
license (even as to Company) under Company’s interest in Antibody Binder IP, with the right to grant and authorize sublicenses as provided in Section 3.5, for any and all uses in the Field in the Territory. 

 

	 	3.1.2	 Subject to the terms and conditions of this Agreement, Company hereby grants to Merck an exclusive
license (even as to Company) under Company’s interest in Collaboration Candidate IP, with the right to grant and authorize sublicenses as provided in Section 3.5, for any and all uses in the Field in the Territory. 

 

	 	3.1.3	 Subject to the terms and conditions of this Agreement, Company hereby grants to Merck an exclusive
license (even as to Company) in the Field in the Territory under Company Background IP and Company’s interest in Platform IP to Research and develop, make, have made, use, import, offer to sell and sell Licensed Products, including the
Collaboration Candidates contained in Licensed Products. 

  

	 	3.1.4	 Subject to the terms and conditions of this Agreement, Company hereby grants to Merck a non-exclusive, fully-paid, royalty-free, irrevocable license under Company’s interest in Other Collaboration IP, with the right to grant and authorize sublicenses, for any and all uses in the Field in the
Territory. 

  

	 	3.1.5	 [***] 

  
 21 

	 	3.1.6	 Notwithstanding the scope of the exclusive license granted to Merck under Sections 3.1.1, 3.1.2 and
3.1.3, Company shall retain the rights under Company Background IP or Company’s interest in Collaboration Candidate IP, Antibody Binder IP and Platform IP to perform, itself or with or through GCLC, GCC and all other approved Third Party CROs
and service providers, Company’s obligations under the Research Programs in accordance with this Agreement and Research Plans and for any and all purposes outside the scope of the licenses granted by Company to Merck under Section 3.1.3.

  

	3.2	 Merck License Grant. 

 

	 	3.2.1	 Subject to the terms and conditions of this Agreement, Merck hereby grants to Company a non-exclusive, non-transferable (except in connection with Section 12.3), non-sublicensable (except to the approved Third Party subcontractors or other vendors conducting
activities on behalf of the Company under this Agreement) license under Merck Background IP solely to perform, itself or with or through its Affiliates, GCLC, GCC and all other approved Third Party CROs and service providers, the Research Program
during the applicable Research Program Term in accordance with the Research Plan. 

  

	 	3.2.2	 Subject to the terms and conditions of this Agreement, Merck hereby grants to Company an exclusive
license (even as to Merck) in the Territory under Merck’s interest in Platform IP, with the right to grant and authorize sublicenses, for any and all uses in the Field other than to Research, develop, make, have made, use, import, offer to sell
and sell Licensed Products, including the Collaboration Candidates contained in Licensed Products. 

  

	 	3.2.3	 Subject to the terms and conditions of this Agreement, Merck hereby grants to Company a non-exclusive, fully-paid, royalty-free, irrevocable license under Merck’s interest in Other Collaboration IP, with the right to grant and authorize sublicenses, for any and all uses in the Field in the
Territory. 

  

	 	3.2.4	 [***] 

  
 22 

	3.3	 No Implied Licenses. Except as specifically set forth in this Agreement, neither Party shall
acquire any license or other intellectual property interest, by implication or otherwise, in any Information disclosed to it under this Agreement or under any Patent Rights or other intellectual property rights owned or controlled by the other Party
or its Affiliates. 

  

	3.4	 No Grant of Inconsistent Rights by Company. Company shall not assign, transfer, convey or
otherwise grant to any Person or otherwise encumber (including through lien, charge, security interest, mortgage, encumbrance or otherwise) any rights to Patent Rights or other intellectual property rights owned or controlled by Company and licensed
to Merck hereunder that is inconsistent with or would interfere with the grant of the rights or licenses under the same granted to Merck hereunder. 

  

	3.5	 Sublicenses. Merck shall have the right to sublicense (through multiple tiers of sublicenses) any
or all of the licenses granted to Merck hereunder; provided that [***]. Merck shall remain liable to Company and be responsible for ensuring that the performance by any of its sublicensees hereunder that are exercising rights under a
sublicense hereunder is in accordance with the applicable terms of this Agreement, and the grant of any such sublicense shall not relieve Merck of its obligations under this Agreement (except to the extent they are performed by any such
sublicensee(s) in accordance with this Agreement). Each such sublicense agreement shall be consistent with the terms and conditions of this Agreement, [***]. 

ARTICLE 4    DEVELOPMENT AND COMMERCIALIZATION. 
  

	4.1	 Development and Commercialization. 

 

	 	4.1.1	 Following the end of each Research Program, Merck shall have the sole and exclusive right and
responsibility, at its sole expense and except for those activities specified in the Research Plan that may continue after the end of each Research Program (e.g., IND Enabling Studies or manufacturing of GMP batches of Collaboration
Candidate), for the conduct of all development and commercialization activities for Licensed Products (including making Modifications to Licensed Products) in the Field in the Territory. Merck

  
 23 

	 	
shall use Commercially Reasonable Efforts, at its own expense, to develop, seek regulatory approval for and commercialize at least one (1) Licensed Product targeting the Collaboration Target
of each Research Program [***] 

  

	 	4.1.2	 In addition to the provisions of Article 8, the obligations of Merck with respect to any Licensed
Product under Section 4.1.1 are expressly conditioned upon [***]. 

  

	 	4.1.3	 At least [***] prior to submission of an IND for any Licensed Product, the Parties shall form a joint
advisory committee (“Joint Advisory Committee”) with representatives from Merck and Company to discuss progress, address issues and share information relating to IND enabling activities and the first-in-human studies. The Joint Advisory Committee shall have no decision-making authority and shall only make recommendations to Merck to facilitate the preparation and submission of an IND for Licensed
Products. 

  

	 	4.1.4	 On a Licensed
Product-by-Licensed Product basis, [***] following the end of each Research Program, Merck shall provide to Company a written summary regarding its significant
development, regulatory, and commercialization activities with respect to each Licensed Product in the Field in the Territory, [***]. 

  

	4.2	 Regulatory Matters. 

 

	 	4.2.1	 Merck may request Company’s assistance in planning and preparation for [***]. At Merck’s
request, Company shall attend such meeting(s) and the Parties will prepare and submit the request for the [***] days prior to the meeting date and the briefing document [***] days prior the meeting date. 

 

	 	4.2.2	 In the event that Merck determines any regulatory filings for any Licensed Products are required for any
activities hereunder (including any activities under the Research Programs), including INDs, NDAs and other Marketing Authorizations (as applicable), then as between the Parties, Merck (or its Affiliate or Related Party) shall have the sole right,
in its discretion, to be the Party responsible for obtaining such regulatory filings (in its (or its Affiliate’s or its Related Party’s) name) and as between the Parties, Merck (or its Affiliate or its Related Party) shall be the owner of
all such regulatory filings. As between the Parties, Merck (or its Affiliate or Related Party) shall have the sole right to communicate and otherwise interact with Regulatory Authorities with respect to Licensed Products (including during the
Research Program Terms). For clarity, Company shall have 

  
 24 

	 	
no right to, and shall not, make any regulatory filings related to any Licensed Products or otherwise interact with any Regulatory Authorities with respect to the Licensed Products, unless such
interaction is at the request of Merck consistent with this Section 4.2. 

  

	 	4.2.3	 Company shall provide reasonable regulatory support and assistance to Merck in connection with the
document preparation and filing of the IND and Phase I Clinical Trial for each Licensed Product, including the Phase I study protocol, the preclinical eCTD Module 2 summaries documents, the Investigator Brochure, the Module 3 documents, and
following RTQs, and any other manufacturing, technical or other relevant documentation as requested by any Regulatory Authority. Company’s reasonable out-of-pocket
costs, including pass-through costs from GCLC, for such regulatory support and assistance shall be covered by the amount set forth in the budget for the applicable Research Program pursuant to Section 7.1. [***] 

ARTICLE 5 MANUFACTURE AND SUPPLY; FACILITY AUDITS. 
  

	5.1	 Audits. 

  

	 	5.1.1	 From time to time as requested by Merck (but not more than [***] except in the case of emergency or for-cause in which case such [***] limit shall not apply), Company shall ensure that Merck has the right to audit [***]. Each audit performed by Merck shall be limited to [***] auditors for a maximum of [***] days
in duration, and shall be scheduled at least [***] in advance. Company (including its representatives) shall have the right to be present at such audits. If such audits cannot be performed in person at the GCLC or GCC facilities or the facilities of
any of the subcontractors that will be involved in manufacturing Collaboration Candidates or manufacturing materials used to manufacture Collaboration Candidates, Company shall [***] to coordinate with GCLC and GCC as applicable, to allow and
arrange for Merck to perform remote audits of such facilities. Company shall [***] to coordinate any requested audits of Company’s Third Party subcontractors involved in manufacturing Collaboration Candidates or manufacturing materials used to
manufacture Collaboration Candidates. 

  

	 	(a)	 As part of Merck’s audit of any facilities of GCLC, GCC or other Third Party subcontractors of Company
manufacturing Collaboration Candidates or manufacturing materials used to manufacture Collaboration Candidates, Merck’s audit may include an audit of such subcontractor’s supplier qualification procedures, risk assessments, audit reports
or supplier questionnaires and associated corrective actions and Environmental Health and Safety assessments. 

  

	 	(b)	 Company shall cause GCLC, GCC and any other subcontractors manufacturing the Collaboration Candidates or other
materials (including, e.g., LentiViral Vector) used to manufacture Collaboration Candidates to comply with the applicable terms 

  
 25 

	 	
and conditions of this Section 5.1.1 and any applicable supply agreement or quality agreement (including any applicable terms and conditions with respect to audit and inspection rights and
compliance, operation and maintenance of the facilities and equipment), provided that [***] 

  

	 	5.1.2	 Merck shall provide to Company an audit report from any audits performed under this Section 5.1
describing the observations identified by Merck in good faith and based on regulations, phase appropriate regulatory guidance documentation and reasonable experience and trends related to such observations. [***] Within [***] days after receipt of
such audit report from Merck, Company shall deliver to Merck a corrective remediation plan (“Remediation Plan”) [***]. Upon acceptance of the Remediation Plan by Merck (which acceptance shall not be unreasonably withheld or
delayed), Company shall work with GCLC, GCC and any subcontractors to conduct the activities set forth in the Remediation Plan to address and correct the audit observations identified by Merck [***]. The activities conducted in the performance of
the Remediation Plan shall be subject to the oversight of the Joint CMC Working Group and JRCC. 

  

	5.2	 Manufacturing; Technology Transfer. 

 

	 	5.2.1	 Upon completion of the remediation activities (including under the Remediation Plan) to Merck’s
reasonable satisfaction, Company shall arrange for the manufacture and supply by GCC of [***] GMP production batches of the Collaboration Candidates for Merck. Merck will pay Company for the costs of such GMP production batches in accordance with
the budget for each Research Program. The Parties acknowledge and agree that [***] of GMP Collaboration Candidates shall be manufactured at GCC’s facility located at [***]. The GMP Collaboration Candidates manufactured by GCC hereunder shall be
manufactured pursuant to a supply agreement to be entered into between Merck and Artiva. 

  

	 	5.2.2	 Upon completion of the manufacture of the GMP Collaboration Candidates by GCC under Section 5.2.1
or such earlier date as mutually agreed by the Parties pursuant to Section 2.8.1(b), Merck shall have the right to have Company perform (or have Company cause GCC or GCLC to perform) a technology transfer to Merck and/or Merck’s identified
CMO(s) for the enablement of the manufacturing of Collaboration Candidates; provided, however, that if [***]. 

  
 26 

 To complete a technology transfer, Company shall provide to Merck within [***] days after
Merck’s request a facility fit documentation package (which outlines the manufacturing process and includes all relevant requirements, including any facility, equipment and process parameters) sufficient for Merck to determine that it will
manufacture the Collaboration Candidates or to select a Third Party manufacturer to manufacture the Collaboration Candidates. In addition, to enable a smooth and successful Technology Transfer, the Joint CMC Working Group shall discuss and propose a
technology transfer plan which plan shall be reviewed and approved by the JRCC. Once Merck determines where the Collaboration Candidates will be manufactured, Company shall transfer, or cause GCC and/or GCLC to transfer, to Merck and/or Merck’s
identified CMO(s) the Know-How within the Company Background IP necessary for manufacturing of [***] as outlined in Schedule 2.1.1 and as agreed by the Joint CMC Working Group such that Merck (or its
identified CMO(s)) is able to manufacture the Collaboration Candidates at scale [***] the “Technology Transfer”). For the avoidance of doubt, the FTE and external costs incurred by or on behalf of Company for the Technology Transfer
under this Section 5.2.2 to Merck or its designated CMO(s) shall be included in (and shall not be in addition to) the payment of milestone (2) to be made by Merck to Company pursuant to Section 7.4.1. 

 

	 	5.2.3	 Following the Technology Transfer, Merck shall be solely responsible for the manufacture and supply of
Collaboration Candidates and Licensed Products. 

 ARTICLE 6     CONFIDENTIALITY AND PUBLICATION. 

 

	6.1	 Nondisclosure Obligation. All Information disclosed by one Party to the other Party
hereunder shall be maintained in confidence by the receiving Party and shall not be disclosed to any Third Party or used for any purpose except as set forth herein or any other written agreement entered into between the Parties in support of the
transactions or activities contemplated hereunder without the prior written consent of the disclosing Party, except to the extent that such Information, as documented by the receiving Party’s business records: 

 

	 	6.1.1	 is known by the receiving Party at the time of its receipt, and not through a prior disclosure by the
disclosing Party; 

  

	 	6.1.2	 is in the public domain by use or publication before its receipt from the disclosing Party, or
thereafter enters the public domain through no fault of the receiving Party; 

  

	 	6.1.3	 is 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; or 

  

	 	6.1.4	 is developed by the receiving Party independently of Information received from the disclosing Party.

 Any combination of features or disclosures shall not be deemed to fall within the foregoing exclusions merely because
individual features are published or available to the general public or in 

  
 27 

 
the rightful possession of the receiving Party unless the combination itself and principle of operation are published or available to the general public or in the rightful possession of the
receiving Party. 
  

	6.2	 Permitted Disclosures. A receiving Party may disclose Information of the disclosing Party to the
extent such disclosure is reasonably necessary in the following instances: 

  

	 	6.2.1	 filing or prosecuting Patent Rights as contemplated by this Agreement; 

 

	 	6.2.2	 obtaining or maintaining approval to conduct Clinical Trials or to market Licensed Products;

  

	 	6.2.3	 complying with applicable court orders or administrative process (including a request for discovery
received in an arbitration or litigation proceeding) and governmental laws and regulations, including regulations promulgated by securities exchanges; 

  

	 	6.2.4	 to its and its Affiliates’ employees, consultants, contractors, advisors and agents, in each case
on a need-to-know basis in connection with the performance of such Party’s obligations under this Agreement and under written obligations of confidentiality and non-use that are substantially no less stringent than those confidentiality and non-use provisions contained in this Agreement; and 

 

	 	6.2.5	 to any bona fide potential or actual investor, acquiror or merger partner or other financial
partner for the sole purpose of evaluating an actual or potential investment or acquisition with such Party, in each case under appropriate written obligations of confidentiality and non-use that are
substantially no less stringent than those confidentiality and non-use provisions contained in this Agreement; provided, that the disclosing Party redacts the financial terms and other provisions of this
Agreement that are not reasonably required to be disclosed in connection with such potential investment or acquisition. 

If a Party is required to disclose Information of the other Party pursuant to Section 6.2.3, 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 disclosure obligations. Information that is disclosed by judicial or administrative process shall remain otherwise subject to
the confidentiality and non-use provisions of Section 6.1, and the Party disclosing Information pursuant to law or court order shall take all steps reasonably necessary, including obtaining an order of
confidentiality, to ensure the continued confidential treatment of such Information. Any Information disclosed pursuant to this Section 6.2 shall remain otherwise subject to the foregoing confidentiality provisions of
Section 6.1. 
  

	6.3	 Publication. Merck shall have the sole right to publish, in its sole discretion, the results of the
Research Programs. If Merck wishes to make a publication relating to the Research Program(s), Merck shall deliver to Company a copy of the proposed written publication (or an outline of an oral disclosure in the case of a presentation) at least
[***] days prior to submission for publication. Company shall have the right to (a) propose modifications to the publication or presentation for the reasons of patent protection or confidentiality or (b) request a reasonable delay in
publication or presentation in order to protect patentable information. If Company proposes modifications to the publication or presentation, Merck shall edit such publication to prevent disclosure of proprietary business information prior to
submission of the publication or presentation. If Company requests a delay, Merck shall delay submission or presentation for a period of up to [***] days as necessary to enable patent applications protecting Company’s rights in such information
to be filed 

  
 28 

	 	
in accordance with Article 9. Upon expiration of such [***] day period, Merck shall be free to proceed with the publication or presentation. The contribution of each Party shall be noted in all
publications or presentations by acknowledgment or co-authorship, whichever is appropriate, consistent with industry standards. 

 

	6.4	 Publicity/Use of Names. 

 

	 	6.4.1	 A public announcement may be made by Company on or following the date hereof substantially in the form
attached hereto as Schedule 6.4. 

  

	 	6.4.2	 If either Party desires to make a public announcement concerning this Agreement, such Party shall give
reasonable prior advance notice to the other Party and provide the proposed text of such announcement to the other Party no later than [***] business days prior to the anticipated date of disclosure for its prior review and comment and approval
(such approval not to be unreasonably withheld); provided, that in the case of a press release or governmental filing required by applicable laws, rules or regulations (including regulations promulgated by securities exchanges), the disclosing Party
shall not be required to obtain approval therefore, but shall provide the other Party with such advance notice as it reasonably can and provide the proposed text of such press release or government filing to the other Party no later than [***]
business days prior to the anticipated date of disclosure (or such shorter period as may be required by the applicable laws, rules or regulations) for an opportunity to review and comment on the proposed disclosure, such comments to be considered in
good faith. Neither Party shall be required to seek the permission of the other Party to repeat any information regarding the terms of this Agreement or any amendment thereto that has already been publicly disclosed by such Party, or by the other
Party, in accordance with this Section 6.4, provided such information remains accurate as of such time. 

  

	 	6.4.3	 The Parties acknowledge that either or both Parties may be obligated to file under applicable laws,
rules or regulations a copy of this Agreement with the U.S. Securities and Exchange Commission or other governmental authorities. Each Party shall be entitled to make such a required filing without being required to obtain approval therefore from
the other Party, provided that it requests confidential treatment of the commercial terms and sensitive technical terms hereof to the extent such confidential treatment is available to such Party and permitted by such governmental authority. In the
event of any such filing, the filing Party will consult with the other Party, and consider the other Party’s comments in good faith, on the provisions of this Agreement to be redacted in any filing made with the U.S. Securities and Exchange
Commission or as otherwise required by applicable laws, rules or regulations. 

  

	 	6.4.4	 Except as expressly provided herein, neither Party shall use the name, trademark, trade name or logo of
the other Party or any of its Affiliates (or any abbreviation or adaptation thereof) or the names of their respective employees in any publication, news release, promotion or other form of publicity without the prior written approval of the other
Party. 

  

	6.5	 Equitable Relief. [***] By reasons thereof, each Party agrees that the other Party shall be entitled, in
addition to any other remedies it may have under this Agreement or otherwise, to seek preliminary and permanent injunctive and other equitable relief to prevent or curtail any actual or threatened breach of the obligations relating to Information
set forth in this Article 6 by the other Party. 

  
 29 

 ARTICLE 7     PAYMENTS; ROYALTIES AND REPORTS 

 

	7.1	 Research Program Funding. In consideration for the performance of the Research Program by
Company, upon the terms and conditions contained herein, Merck shall pay Company an amount not to exceed $14,000,000 per Research Program (“Funding Cap”). Merck shall reimburse Company for Research Program activities performed by or
on behalf of Company in the prior Calendar Quarter pursuant to the respective Research Plan, within [***] days, after receipt by Merck of an invoice and supporting documentation. Such supporting documentation shall: (a) describe the Research
Program activities performed by or on behalf of Company during such prior Calendar Quarter; and (b) set forth a detailed accounting of all costs, including any and all pass through
out-of-pocket costs and FTE costs (including the number of FTEs and FTE rate for such FTEs, if applicable) paid by Company to Third Parties as evidenced by a work order
or similar document pursuant to the Partnered Program Agreement or other agreement between Company and the applicable Third Party. [***] 

  

	7.2	 Upfront Payment for First Collaboration Target and Second Collaboration Target. In consideration for the
licenses and other rights granted by Company to Merck with respect to the first Collaboration Target and second Collaboration Target upon the terms and conditions contained herein, Merck shall pay to Company a
one-time, non-refundable, non-creditable payment of Thirty Million USD ($30,000,000) within [***] days after the Effective Date.

  

	7.3	 Upfront Payment for Third Collaboration Target. In consideration for the licenses and
other rights granted by Company to Merck with respect to the third Collaboration Target upon the terms and conditions contained herein, Merck shall pay to Company a one-time,
non-refundable, non-creditable payment of Fifteen Million USD ($15,000,000) within [***] days following the date such third Collaboration Target is accepted, or deemed
accepted, by Company pursuant to Section 2.1.3. 

  

	7.4	 Milestone Payments. Subject to the terms and conditions of this Agreement, Merck shall pay
to Company the following non-refundable, non-creditable milestone payments, for which Merck achieves the following milestone events hereunder during the Term.

  

	 	7.4.1	 Development Milestones on a Per Collaboration Target Basis. On a Collaboration Target-by-Collaboration Target basis, Merck will pay Company one-time milestone payments for the first Licensed Product directed to
such Collaboration Target to achieve the following milestone events: 

  

					
	 Milestone Event
	  	Payment (USD)	 
	 (1) [***]
	  	 	[***	] 
	 (2) [***]
	  	 	[***	] 

  
 30 

					
	 (3) [***]
	  	 	[***	] 
	 (4) [***]
	  	 	[***	] 
	 (5) [***]
	  	 	[***	] 
	 (6) [***]
	  	 	[***	] 
	 (7) [***]
	  	 	[***	] 
	 (8) [***]
	  	 	[***	] 
	 (9) [***]
	  	 	[***	] 
	 (10) [***]
	  	 	[***	] 

 With respect to a particular Collaboration Target: (a) Milestone #1 shall be deemed achieved and payable,
if not already achieved, upon the first achievement of Milestone #3 by a Licensed Product directed to the same Collaboration Target, and (b) Milestone #3 shall be deemed achieved and payable, if not already achieved, upon the achievement of the
first of any of Milestone #4, #5, #6, and #7 by a Licensed Product directed to the same Collaboration Target, and (c) Milestone #4 shall be deemed achieved and payable, if not already achieved, upon the achievement of the first of any of
Milestone #5, #6, and #7 by a Licensed Product directed to the same Collaboration Target. 
  

	7.4.2	 Sales Milestones on a Per Collaboration Target Basis. On a Collaboration Target-by-Collaboration Target basis, Merck will pay Company the following one-time sales milestones for the first Licensed Product
directed at such Collaboration Target to achieve the following milestone events:  

  

					
	 Milestone Event
	  	Payment (USD)	 
	 (1) The first Calendar Year in which aggregate annual Net Sales equal or
	  	 	[***	] 

			
	exceed [***]	  	
	 (2) The first Calendar Year in which aggregate annual Net Sales equal or exceed [***]
	  	[***]
	 (3) The first Calendar Year in which aggregate annual Net Sales equal or exceed [***]
	  	[***]
	 (4) The first Calendar Year in which aggregate annual Net Sales equal or exceed [***]
	  	[***]

  

	 	7.4.3	 Notice of Achievement of Milestone Events and Payment of Milestone Payments. Merck shall notify Company
in writing within [***] days following the achievement of each milestone set forth in Section 7.4.1 and within [***] days after the close of the Calendar Quarter in which each milestone set forth in Section 7.4.2 was achieved. With respect
to the achievement of a milestone under Section 7.4.1, Merck shall make the appropriate milestone payment within [***] days after the achievement of such milestone. With respect to the achievement of a milestone under Section 7.4.2, Merck
shall make the appropriate milestone payment within [***] days after the close of the Calendar Quarter in which such milestone was achieved. The milestone payments under this Section 7.4 shall be payable only once per Collaboration Target upon
the initial achievement of such milestone and no amounts shall be due hereunder for subsequent or repeated achievement of such milestone by the same or a different Licensed Product directed to the same Collaboration Target. 

 

	7.5	 Royalties. 

  

	 	7.5.1	 Royalties Payable By Merck. Subject to the terms and conditions of this Agreement,
for the applicable Royalty Term, Merck shall pay Company royalties, calculated on a Licensed Product-by-Licensed Product and country-by-country basis, as set forth in this Section 7.5. 

  

	 	(a)	 Subject to the provisions of Section 7.5.1(b), Merck shall pay Company royalties in an amount equal to the
following percentage of Net Sales of Licensed Product by Merck or its Related Parties: 

  

	 	(1)	 [***] of Net Sales in the Territory in each Calendar Year for the portion of Net Sales less than [***];

  

	 	(2)	 [***] of Net Sales in the Territory in each Calendar Year for the portion of Net Sales equal to or greater than
[***] 

  
 32 

	 	
up to but not including [***]; 

  

	 	(3)	 [***] of Net Sales in the Territory in each Calendar Year for the portion of Net Sales equal to or greater than
[***] up to but not including [***]; and 

  

	 	(4)	 [***] of Net Sales in the Territory in each Calendar Year for the portion of Net Sales equal to or greater than
[***]. 

  

	 	(b)	 Notwithstanding the provisions of Section 7.5.1(a), in countries where the sale of Licensed Product by
Merck or its Related Parties is not covered by a Valid Patent Claim and the Royalty Term has not expired, Merck shall pay royalty rates that shall be set at [***] of the applicable royalty rate determined according to Section 7.5.1(a). Such
royalties shall be calculated after first calculating royalties under Section 7.5.1(a). 

  

	 	(c)	 Royalty tiers pursuant to Section 7.5.1(a) and Section 7.5.1(b) shall be calculated based on Net
Sales of each Licensed Product in the Territory, provided that the determination of whether the royalty shall be calculated under Section 7.5.1(a) or 7.5.1(b) shall be determined on a country-by-country basis. Royalties on each Licensed Product at the rates set forth above shall continue on a country-by-country
basis until the expiration of the Royalty Term for such Licensed Product in such country. 

  

	 	(d)	 All royalties are subject to the following conditions: 

 

	 	(i)	 that only one royalty shall be due with respect to the same unit of Licensed Product; 

 

	 	(ii)	 that no royalties shall be due upon the sale or other transfer among Merck or its Related Parties, but in such
cases the royalty shall be due and calculated upon Merck’s or its Related Party’s Net Sales to the first independent Third Party (i.e., Third Party that is not a Related Party); 

 

	 	(iii)	 no royalties shall accrue on the sale or other disposition of Licensed Product by Merck or its Related Parties
for use in a Clinical Trial; and 

  

	 	(iv)	 no royalties shall accrue on the disposition of Licensed Product in reasonable quantities by Merck or its
Related Parties as samples (promotion or otherwise) or as donations (for example, to non-profit institutions or government agencies for a non-commercial purpose).

  

	 	7.5.2	 Change in Sales Practices. The Parties acknowledge that during the Term, Merck’s sales practices
for the marketing and distribution of Licensed Product may change to the extent to which the calculation of the payment for royalties on Net Sales may become impractical or even impossible. In such event the Parties agree to meet and reasonably
discuss in good 

  
 33 

	 	
faith new ways of compensating Company to the extent currently contemplated under Section 7.5.1. 

  

	 	7.5.3	 Royalties for Bulk Product. In those cases in which Merck sells Collaboration Candidate in bulk or other
form, rather than Licensed Product in final form, to an independent Third Party, the royalty obligations of this Section 7.5 shall be applicable to the bulk or other form of such Collaboration Candidate. 

 

	 	7.5.4	 Compulsory Licenses. If a compulsory license is granted to a Third Party with respect to a Collaboration
Candidate or Licensed Product in any country in the Territory with a royalty rate lower than the royalty rate provided by Section 7.5.1, then the royalty rate to be paid by Merck to Company on Net Sales in that country under Section 7.5.1
shall be reduced to [***]. 

  

	 	7.5.5	 Third Party Licenses. In the event that Merck obtains after the Effective Date a license
under, or other rights to, Patent Right s from any Third Party(ies) that are [***] (hereinafter “Third Party Licenses”), [***] of any and all payments (including upfront payments, milestones and payments based on sales, such
as royalties and profit or revenue share) any sales milestones actually paid under such Third Party Licenses by Merck or its Related Parties in connection with the manufacture, use, sale or import, as applicable, of Licensed Product(s) or the
Collaboration Candidate(s) contained in such Licensed Product(s) for a Calendar Quarter shall be creditable against the royalty payments due Company by Merck with respect to the sale of such Licensed Product in such Calendar Quarter. For clarity, in
the event that Licensed Product is a Combination Product, any Third Party licenses Merck obtains to the extent solely necessary with respect to any active ingredients other than the Collaboration Candidate comprised in such Combination Product shall
not be considered Third Party Licenses hereunder and the foregoing right of off-set shall not apply for any payments made by Merck or its Related Parties under such Third Party licenses. [***]. At the
reasonable request of Merck, Company shall provide assistance to Merck (or its Related Parties) in obtaining any such Third Party Licenses with respect to Patent Rights or Know-How or other intellectual
property of any Third Party(ies) that may be necessary or useful in order to develop, make, have made, use, import, offer to sell or sell Licensed Product(s) or Collaboration Candidate(s) contained in such Licensed Product(s). 

 

	 	7.5.6	 [***] 

  
 34 

	7.6	 Reports; Payment of Royalty.    During the Term following the First
Commercial Sale of a Licensed Product, Merck shall furnish to Company a quarterly written report for the Calendar Quarter showing the [***]. Such reports shall be due on the [***] day following the close of each Calendar Quarter. Royalties shown to
have accrued by each royalty report shall be due and payable on the date such royalty report is due. Merck shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.

  

	7.7	 Audits. 

  

	 	7.7.1	 Upon the written request of Company and not more than [***], Merck shall permit an independent certified
public accounting firm of nationally recognized standing selected by Company and reasonably acceptable to Merck, at Company’s expense, to have access during normal business hours to such of the records of Merck as may be reasonably necessary to
verify the accuracy of the royalty reports hereunder for any Calendar Year ending not more than [***] prior to the date of such request. The accounting firm shall disclose to Company only whether the royalty reports are correct or incorrect and the
specific details and amount of any discrepancy. No other information shall be provided to Company without the prior consent of the Merck unless disclosure is required by applicable laws, rules or regulations or by judicial or administrative process.

  

	 	7.7.2	 If such accounting firm correctly identifies a discrepancy made during such period, the appropriate
Party shall pay the other Party the amount of the discrepancy within [***] days of the date Company delivers to Merck such accounting firm’s written report so correctly concluding, or as otherwise agreed upon by the Parties. The fees charged by
such accounting firm shall be paid by Company, unless the inspection discloses an underpayment by Merck of the greater of $[***] or [***] of the amount due for any period covered by the inspection, whereupon all costs relating to the inspection for
such period shall be paid promptly by Merck. If such accounting firm identifies an overpayment by Merck during such period, then such overpayment shall be withheld from a next payment due from Merck to Company. 

 

	 	7.7.3	 Merck shall include in each sublicense granted by it pursuant to this Agreement a provision requiring
the sublicensee to make reports to Merck, to keep and maintain records of sales made pursuant to such sublicense and to grant access to such records by Company’s independent accountant to the same extent required of Merck under this Agreement.

  

	 	7.7.4	 Upon the expiration of [***] following the end of any Calendar Year, the calculation of royalties
payable with respect to such Calendar Year shall be binding and conclusive upon Company, and Merck and its Related Parties shall be released from any liability or accountability with respect to royalties for such Calendar Year.

  

	 	7.7.5	 Company shall treat all financial information subject to review under this Section 7.7 or under any
sublicense agreement in accordance with the confidentiality and non-use provisions of this Agreement, and shall cause its accounting firm to enter into an acceptable

  
 35 

	 	
confidentiality agreement with Merck and/or its Related Parties obligating it to retain all such information in confidence pursuant to such confidentiality agreement. 

 

	7.8	 Payment Exchange Rate. All payments to be made by Merck to Company under this Agreement
shall be made in United States dollars and may be paid by check made to the order of Company or bank wire transfer in immediately available funds to such bank account in the United States as may be designated in writing by Company from time to time.
In the case of sales outside the United States, the rate of exchange to be used in computing the monthly amount of currency equivalent in United States dollars due Company shall be made at the monthly rate of exchange utilized by Merck in its
worldwide accounting system as applied to its external reporting. 

  

	7.9	 Withholding. Except as otherwise provided in this Section 7.9, each Party shall be
responsible for all income and other taxes imposed upon any payments made to it pursuant to this Agreement (“Agreement Payments”). Prior to making any Agreement Payments, Merck will request from Company any documents reasonably
required to reduce or eliminate any obligation to withhold or deduct amounts for taxes from the Agreement Payments due to Company. If applicable laws, rules or regulations require withholding of taxes, Merck shall remit such withholding taxes to the
appropriate governmental authority, shall subtract the amount thereof from the Agreement Payments, and shall promptly submit to Company appropriate proof of payment of the withheld Taxes as well as the official receipts. Merck shall provide Company
reasonable assistance in order to allow Company to obtain the benefit of any present or future treaty against double taxation which may apply to the Agreement Payments. [***] 

 

	7.10	 [***] 

ARTICLE 8     REPRESENTATIONS AND WARRANTIES 
  

	8.1	 Representations and Warranties of Each Party. Each Party represents and warrants to the other
Party that as of the Effective Date: 

  
 36 

	 	8.1.1	 such Party is duly organized and validly existing under the laws of the state or jurisdiction of its
organization and has full corporate right, power and authority to enter into this Agreement and to perform its obligations hereunder; 

  

	 	8.1.2	 the execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby have been duly authorized by the necessary corporate actions of such Party. This Agreement has been duly executed by such Party. This Agreement and any other documents contemplated hereby constitute valid and legally binding obligations of
such Party enforceable against it in accordance with their respective terms, except to the extent that enforcement of the rights and remedies created thereby is subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws of
general application affecting the rights and remedies of creditors; and 

  

	 	8.1.3	 the execution, delivery and performance by such Party of this Agreement and any other agreements and
instruments contemplated hereunder will not (i) in any respect violate any statute, regulation, judgment, order, decree or other restriction of any governmental authority to which such Party is subject, (ii) violate any provision of the
corporate charter, by-laws or other organizational documents of such Party, or (iii) constitute a material violation or breach by such Party of any provision of any material contract, agreement or
instrument to which such Party is a party or to which such Party may be subject although not a party. 

  

	8.2	 Company Representations and Warranties. Company represents and warrants to Merck that as of the
Effective Date: 

  

	 	8.2.1	 all issued patents within the Company Background IP are in full force and effect, and, to the best of
Company’s knowledge, exist and are not invalid or unenforceable, in whole or in part; 

  

	 	8.2.2	 it has the full right, power and authority to enter into this Agreement, to perform the activities
contemplated as of the Effective Date to be performed by or on behalf of Company hereunder, including the Research Programs, and to grant the licenses granted by Company hereunder (including under Article 3); 

 

	 	8.2.3	 it (and its Affiliates) has not prior to the Effective Date (i) assigned, transferred, conveyed or
otherwise encumbered its right, title and interest in the Patent Rights within the Company Background IP or (ii) otherwise granted any rights under the Company Background IP to any Third Parties, in each case ((i) and (ii)) that would conflict
with the rights granted to Merck hereunder; 

  

	 	8.2.4	 it is the sole and exclusive owner of, or has a sublicensable exclusive license to, the Company
Background IP, all of which are free and clear of any liens, charges and encumbrances (other than the terms of any agreement pursuant to which such Company Background IP is licensed to Company); 

 

	 	8.2.5	 to the best of Company’s knowledge, the exercise of the licenses granted by Company to Merck under
this Agreement under the Company Background IP do not infringe any intellectual property rights owned or possessed by any Third Party; 

  
 37 

	 	8.2.6	 there are no claims, judgments or settlements against or owed by Company (or any of its Affiliates) and,
to the best of Company’s knowledge, no pending or threatened claims or litigation relating to Company Background IP; 

  

	 	8.2.7	 to the best of Company’s knowledge, Company has disclosed to Merck all reasonably relevant
information controlled by Company regarding (i) CAR-NK Cells and Licensed Products or (ii) Company Background IP, including (a) any license agreements related to such Company Background IP, CAR-NK Cells and Licensed Products and (b) safety or efficacy information related to the CAR-NK Cells and Licensed Products; 

 

	 	8.2.8	 Company has disclosed to Merck the existence of any patent opinions related to the Patent Rights within
Company Background IP; 

  

	 	8.2.9	 neither Company nor any of its Affiliates has received any written notification from a Third Party that
the Company’s research, development, manufacture, use, sale or import of Collaboration Candidates or Licensed Products prior to the Effective Date infringes or misappropriates the Patent Rights or
know-how owned or controlled by such Third Party, and Company has no knowledge that a Third Party has any basis for any such claim; 

 

	 	8.2.10	 to the best of Company’s knowledge, Company has complied with all existing country-specific laws
and regulations involving inventor remuneration associated with the Patent Rights within Company Background IP; 

  

	 	8.2.11	 Schedule 8.2.11 sets forth a true, correct and complete list of the Patent Rights within Company
Background IP existing as of the Effective Date and such schedule contains all application numbers and filing dates, registration numbers and dates, jurisdictions and owners; 

 

	 	8.2.12	 Company has disclosed to Merck all material information and data and all material correspondences
to/from any Regulatory Authority, in each case related to the Research Programs and/or any CAR-NK Cells or Licensed Products, regardless of whether such data and information would have a positive, negative or
neutral impact on the potential commercial, scientific or strategic value or attractiveness of the Research Programs, any CAR-NK Cells or Licensed Products; 

 

	 	8.2.13	 Company has obtained all necessary consents, approvals and authorizations of all governmental
authorities and other Persons required to be obtained by it as of the Effective Date, as applicable, in connection with the execution, delivery and performance of this Agreement; 

 

	 	8.2.14	 Company (and its Affiliates) has not employed or otherwise used in any capacity, and will not employ or
otherwise use in any capacity, the services of any Person debarred under United States law, including under Section 21 USC 335a or any foreign equivalent thereof, with respect to the CAR-NK Cells or
Licensed Products or otherwise in performing any portion of the Research Programs; 

  

	 	8.2.15	 all research and development (including non-clinical studies and
Clinical Trials) of the CAR-NK Cells (including CAR-NK Cells directed to other targets in Company’s other pipeline programs) conducted by or on behalf of Company
prior to the Effective Date has been conducted in material compliance with all Applicable Laws; 

  
 38 

	 	8.2.16	 except for the Company Third Party License Agreements, there are no agreements (including any licenses),
written or oral, granting any licenses or other rights to (or from) Company (or any of its Affiliates) relating to the CAR-NK Cells or Licensed Products; 

 

	 	8.2.17	 with respect to each Company Third Party License Agreement, (i) it is in full force and effect;
(ii) neither Company nor any of its Affiliates is in breach thereof; (iii) neither Company nor any of its Affiliates has received any notice of breach or notice of threatened breach thereof; and (iv) neither Company nor any of its
Affiliates has received any notice from the counterparty to such Company Third Party License Agreement of intent to reduce the scope of the field thereof or render any of the licenses thereunder non-exclusive,
and no event, act or omission has occurred which could give rise to the right of the counterparty to such Company Third Party License to reduce the scope of the field thereof or render any of the licenses thereunder
non-exclusive; and 

  

	 	8.2.18	 to the best of Company’s knowledge, all information and data provided by or on behalf of Company to
Merck on or before the Effective Date in contemplation of this Agreement was and is true and accurate and complete in all material respects, and Company has not disclosed, failed to disclose, or cause to be disclosed, any information or data that
would reasonably be expected to cause the information and data that has been disclosed by Company to Merck to be misleading in any material respect. 

  

	8.3	 Company Third Party License Agreements Representations, Warranties and Covenants. Company
represents and warrants to Merck that it has provided to Merck as of the Effective Date a true, correct and complete copy of each of the Company’s executed license agreements (or any other agreements alike) with Third Parties that are relevant
to the Research Programs as set forth on Schedule 8.3 (each, a “Company Third Party License Agreement”), and each such copy includes any and all amendments, restatements, side letters, and other modifications thereto, as each
such Company Third Party License Agreement is in effect as of the Effective Date. Company further covenants and agrees that during the Term: (a) it shall satisfy all of its obligations under (including making all payments), and take all steps
to maintain in full force and effect, each of the Company Third Party License Agreements; (b) it will not assign (except an assignment to a party to which this Agreement has been assigned as permitted under Section 12.3), amend, restate,
amend and restate, terminate in whole or in part, or otherwise modify any of the Company Third Party License Agreements in a manner that would reduce, limit, or otherwise adversely impact the rights granted to Merck under this Agreement without the
prior written consent of Merck; (c) it will provide Merck with prompt notice of any claim of a breach under any of the Company Third Party License Agreements or notice of termination of any of the Company Third Party License Agreements, made by
either Company or the counterparty to such Company Third Party License Agreement (or any party acting on behalf of such counterparty); and (d) it will promptly send to Merck copies of all other material correspondence to or from the
counterparty to such Company Third Party License Agreement related to such Company Third Party License Agreement that may reasonably be expected to have an adverse or other material impact on the rights granted to Merck under this Agreement. For the
purposes of clarity, Company (and not Merck) shall be responsible for all of the financial and other obligations of Company (and/or any of its Affiliates) under any of the Company Third Party License Agreements, including any and all financial
obligations thereunder with respect to Net Sales of Merck and its Related Parties. Merck shall have the right, in its sole discretion, to terminate this Agreement immediately upon written notice to Company pursuant to Section 11.3, in the event
that Company is in breach of this Section 8.3. 

  
 39 

 ARTICLE 9 PATENT PROVISIONS. 

 

	9.1	 Filing, Prosecution and Maintenance of Patents. 

 

	 	9.1.1	 Collaboration Candidate IP and Antibody Binder IP. Merck shall have (a) the sole right to file,
prosecute, and maintain patent applications claiming Antibody Binder IP [***] and (b) the first right to file patent applications claiming Collaboration Candidate IP. Company shall promptly disclose to Merck in writing the conception, creation
or discovery of such Collaboration Candidate IP and Antibody Binder IP to which one or more patent applications may be filed. Merck shall give Company an opportunity to review the text of any patent application claiming Collaboration Candidate IP
before filing, shall consult with Company with respect thereto, and shall supply Company with a copy of the application as filed, together with notice of its filing date and serial number. Merck has the first right to prosecute and maintain in the
Territory, upon appropriate consultation with Company, Patent Rights within Collaboration Candidate IP. Merck shall keep Company advised of the status of such Collaboration Candidate IP patent matters, including, without limitation[***] by providing
Company copies of any documents received by Merck from such patent offices. Merck shall promptly give notice to Company of the grant, lapse, revocation, surrender, invalidation or abandonment of any Patent Rights within Collaboration Candidate IP.
Merck shall give notice to Company of any desire to cease prosecution and/or maintenance of Patent Rights within Collaboration Candidate IP on a country-by-country basis
in the Territory and, in such case, shall permit Company [***], in its sole discretion, to continue prosecution or maintenance of such Patent Rights at its own expense[***]. 

 

	 	9.1.2	 Platform IP. Company shall have the (a) sole right to file patent applications claiming
Platform IP owned solely by Company or GCLC and (b) first right to file patent applications claiming Platform IP owned [***] jointly by Parties [***] Company shall give Merck an opportunity to review the text of any patent application described
in subsection (b) before filing, shall consult with Merck with respect thereto, and shall supply Merck with a copy of the application as filed, together with notice of its filing date and serial number. Company has the first right to prosecute
and maintain in the Territory, upon appropriate consultation with Merck, Patent Rights within Platform IP described in subsection (b). Company shall keep Merck advised of the status of such Patent Rights, including, without limitation, by providing
Merck the opportunity to review [***] any documents that will be filed in any patent office, and by providing Merck copies of any documents received by Company [***] from such patent offices. Company shall promptly give notice to Merck of the grant,
lapse, revocation, surrender, invalidation or abandonment of any Patent Rights within such Platform IP. Company shall give notice to Merck of any desire to not file applications claiming Platform IP or to cease prosecution or maintenance of any
Patent Rights within such Platform IP on a country-by-country basis 

  
 40 

	 	
in the Territory and, in such case, shall permit Merck, in its sole discretion, to continue prosecution or maintenance of such Patent Rights at its own expense[***]. 

 

	 	9.1.3	 Other Collaboration IP. Merck shall have the first right to file patent applications claiming Other
Collaboration IP. Company shall promptly disclose to Merck in writing the conception, creation or discovery of such Other Collaboration IP to which one or more patent applications may be filed. Merck shall give Company an opportunity to review the
text of any patent application claiming Other Collaboration IP before filing, shall consult with Company with respect thereto, and shall supply Company with a copy of the application as filed, together with notice of its filing date and serial
number. Merck has the first right to prosecute and maintain in the Territory, upon appropriate consultation with Company, Patent Rights within Other Collaboration IP. Merck shall keep Company advised of the status of such Other Collaboration IP
patent matters, including, without limitation, [***] by providing Company copies of any documents received by Merck from such patent offices. Merck shall promptly give notice to Company of the grant, lapse, revocation, surrender, invalidation or
abandonment of any Patent Rights within Other Collaboration IP. Merck shall give notice to Company of any desire to cease prosecution and/or maintenance of Patent Rights within Other Collaboration IP on a country-by-country basis in the Territory and, in such case, shall permit Company [***] in its sole discretion, to continue prosecution or maintenance of such Patent Rights at its own expense[***].

  

	 	9.1.4	 Patent Term Extension. The Parties shall cooperate fully with each other to provide necessary
information and assistance, as the other Party may reasonably request, in obtaining patent term extension or supplemental protection certificates or their equivalents in any country in the Territory where applicable to Patent Rights claiming or
covering Collaboration Information and Inventions. In the event that elections with respect to obtaining such patent term extension are to be made, Merck shall have the right to make the election [***], and Company agrees to abide by such
election[***]. 

  

	 	9.1.5	 Other Cooperation. The Parties agree to cooperate fully and provide any information and assistance that
either may reasonably request for the filing, prosecution and maintenance of Patent Rights claiming or covering Collaboration Information and Inventions. The Parties further agree to take reasonable actions to maximize the protections available
under the safe harbor provisions of 35 U.S.C. 102(c) for U.S. patents and patent applications. 

  
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	 	9.1.6	 Filing, Prosecution and Maintenance Expenses. With respect to all filing, prosecution and
maintenance activities under this Section 9.1, the filing and/or prosecuting Party shall be responsible for payment of all costs and expenses related to such activities. 

 

	 	9.1.7	 Inventor Remuneration. [***] shall comply with all applicable country-specific inventor remuneration
laws and regulations when such inventor remuneration obligations are triggered by an employee of the [***], or a Third Party acting on behalf of the [***]. 

  

	9.2	 Interference, Derivation, Opposition, Reexamination, Reissue, Supplemental Examination, Inter
Partes Review and Post-Grant Review Proceedings. 

  

	 	9.2.1	 Third Party Initiated Proceedings. Each Party shall, within [***] days of learning of such event,
inform the other Party of any request for, or filing or declaration of, any interference, derivation proceeding, opposition, reexamination requested by a Third Party, inter partes review, post-grant review or similar contested
administrative proceeding involving a Third Party relating to Patent Rights claiming or reciting Collaboration Information and Inventions. Merck and Company shall thereafter consult and cooperate fully to determine a course of action with respect to
any such proceeding. Merck shall have the first right to control such proceedings with respect to Collaboration Candidate IP, Antibody Binder IP and Other Collaboration IP, and Company shall have the right to review [***] any submission to be made
[***]. Company shall have the first right to control such proceedings with respect to Platform IP, and Merck shall have the right to review [***] any submission to be made [***]. 

 

	 	9.2.2	 Party Initiated Proceedings. 

 

	 	(a)	 Merck shall have the (i) sole right to initiate a reexamination, supplemental examination, reissue or
similar administrative proceeding concerning Patent Rights within Antibody Binder IP and (ii) first right to initiate a reexamination, supplemental examination, reissue or similar administrative proceeding concerning Patent Rights within
Collaboration Candidate IP and Other Collaboration IP. Merck and Company shall thereafter consult and cooperate fully to determine a course of action with respect to any such proceeding concerning Patent Rights within Collaboration Candidate IP or
Other Collaboration IP. Merck shall have the first right to control such proceedings concerning Patent Rights within Collaboration Candidate IP or Other Collaboration IP, and Company shall have the right to review [***] any submission to be made
[***]. If there is disagreement regarding whether a proceeding under this Section 9.2.2(a) should be initiated, such disagreement shall be referred to the senior intellectual property officers of the Parties. In the event that these two
executives do not, after reasonable efforts, reach agreement, the resolution and/or course of conduct shall be determined by Merck. In the event that Merck chooses not to initiate a proceeding concerning Patent Rights within Collaboration Candidate
IP or Other Collaboration IP under this Section 9.2.2(a), and upon Merck’s written consent, Company [***] shall have the right to initiate and control such 

  
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proceedings. [***] 

  

	 	(b)	 Company shall have the (i) sole right to initiate a reexamination, supplemental examination, reissue or
similar administrative proceeding concerning Patent Rights within Platform IP owned solely by Company or GCLC and (ii) first right to initiate a reexamination, supplemental examination, reissue or similar administrative proceeding concerning
Patent Rights within Platform IP owned jointly by the Parties [***]. Company and Merck shall thereafter consult and cooperate fully to determine a course of action with respect to any such proceeding described in subsection (ii). Company shall have
the first right to control such proceedings, and Merck shall have the right to review [***] any submission [***]. If there is disagreement regarding whether a proceeding under this Section 9.2.2(b) should be initiated, such disagreement shall
be referred to the senior intellectual property officers of the Parties. In the event that these two executives do not, after reasonable efforts, reach agreement, the resolution and/or course of conduct shall be determined by Company. In the event
that Company chooses not to initiate a proceeding concerning Patent Rights within Platform IP owned jointly by the Parties [***] under this Section 9.2.2(b), and upon Company’s written consent, Merck shall have the right to initiate and
control such proceedings. In such cases, Company shall have the right to review [***]. If Merck initiates and controls such proceedings, but decides to cease such proceedings, Merck shall give notice to Company [***]. 

 

	 	9.2.3	 Cooperation. In connection with any administrative proceeding under Section 9.2.1 or 9.2.2, Merck
and Company shall cooperate fully and provide each other with any information or assistance that either may reasonably request. The Parties shall keep each other informed of developments in any such action or proceeding, including the status of any
settlement negotiations and the terms of any offer related thereto.    For any proceeding [***] not controlled by Merck, Company shall obtain prior approval from Merck of any settlement offer or settlement agreement.

  

	 	9.2.4	 Expenses. The Party controlling any administrative proceeding pursuant to Section 9.2.1 and 9.2.2
shall bear all expenses related thereto. 

  

	9.3	 Enforcement and Defense. 

 

	 	9.3.1	 The Parties shall give notice to each other of (i) any infringement of Patent Rights covering
Collaboration Information and Inventions or (ii) any infringement, misappropriation or misuse of Collaboration Information and Inventions, or Company Background IP, that may come to its attention. Merck and Company shall thereafter consult and
cooperate fully to determine a course of action, including the commencement of legal action by either or both Merck and Company, to terminate any such infringement, misappropriation or misuse. 

  
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	 	(a)	 Merck, upon notice to Company, shall have (i) the sole right to initiate and prosecute such legal action
at its own expense and in the name of Merck and/or Company, or to control the defense of any declaratory judgment action, in each case to the extent concerning Patent Rights within Antibody Binder IP and (ii) the first right to initiate and
prosecute such legal action at its own expense and in the name of Merck and/or Company, or to control the defense of any declaratory judgment action, in each case to the extent concerning Patent Rights within Collaboration Candidate IP and Other
Collaboration IP. 

  

	 	(b)	 Company, upon notice to Merck, shall have the (i) sole right to initiate and prosecute such legal action
at its own expense and in the name of Company, or to control the defense of any declaratory judgment action, in each case concerning Patent Rights within Company Background IP and Platform IP owned solely by Company, and (ii) first right to
initiate and prosecute such legal action at its own expense and in the name of Company, and if necessary, Merck, or to control the defense of any declaratory judgment action, in each case concerning Patent Rights within Platform IP owned jointly by
the Parties [***]. 

  

	 	(c)	 Each Party shall have the right to be represented by counsel of its own choice. 

 

	 	9.3.2	 Merck shall promptly inform Company if it elects not to exercise its first right under
Section 9.3.1(a) to initiate and prosecute legal action concerning Patent Rights within Collaboration Candidate IP, Other Collaboration IP [***] and Company shall thereafter have the right to either initiate and prosecute such action or to
control the defense of such declaratory judgment action in the name of Company and, if necessary, Merck. Company shall promptly inform Merck if it elects not to exercise its first right under Section 9.3.1(b) to initiate and prosecute legal
action concerning Patent Rights within Platform IP owned jointly by the [***] and Merck shall thereafter have the right to either initiate and prosecute such action or to control the defense of such declaratory judgment action in the name of Merck
and/or Company. The costs of any agreed-upon course of action to terminate such infringement, misappropriation or misuse, including the costs of any legal action commenced or the defense of any declaratory judgment, shall be paid by the initiating
Party. Each Party shall have the right to be represented by counsel of its own choice. 

  

	 	9.3.3	 For any action under Section 9.3.1 or 9.3.2, in the event that a Party is unable to initiate or
prosecute such action solely in its own name, the other Party will join such action voluntarily and will execute and cause its Affiliates to execute all documents necessary for the Party to initiate litigation to prosecute and maintain such action
under this Section 9.3. In connection with any action or potential action, Merck and Company will cooperate fully and will provide each other with any information or assistance that either may reasonably request, including cooperating with
regard to any pre-litigation review. Each Party shall keep the other informed of developments in any action or proceeding. For any proceeding [***] not controlled by Merck, Company shall obtain prior approval
from Merck of any settlement offer or settlement agreement. [***] 

  
 44 

	 	9.3.4	 Any recovery obtained by either or both Merck and Company in connection with or as a result of any
action contemplated by this Section, whether by settlement or otherwise, shall be shared in order as follows: 

  

	 	(a)	 [***]. 

  

	 	9.3.5	 Company shall inform Merck of any certification regarding any Patent Rights within Collaboration
Candidate IP or Antibody Binder IP it has received pursuant to either 21 U.S.C. §§355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV), or its successor provisions or any similar provisions in a country in the Territory other than the United States, and
shall provide a copy of such certification within five (5) days of receipt. Merck has the first right to initiate and prosecute any legal action as a result of such certification; provided, however, that Merck shall inform Company
of such decision to initiate such action within [***] days of receipt of the certification, after which time Company shall have the right to initiate and prosecute such action. Regardless of which Party has the right to initiate and prosecute such
action, both Parties shall, as soon as practicable after receiving notice of such certification, convene and consult with each other regarding the appropriate course of conduct for such action. The
non-initiating Party shall have the right to be kept fully informed and participate in decisions regarding the appropriate course of conduct for such action, and the right to join and participate in such
action. Company’s and Merck’s rights and obligations with respect to the prosecution of any legal action as a result of such certification and any recovery obtained as a result of such legal action shall be as defined in Sections 9.3.3 and
9.3.4. 

  

	 	9.3.6	 Company shall promptly inform Merck of any matter of which it becomes aware concerning the submission of
an application to the United States Food and Drug Administration under Section 351(k) of the U.S. Public Health Services Act (42 U.S.C. §262(k)), or to a similar agency under any similar provisions in a country in the Territory, seeking
approval of a biosimilar or interchangeable biological product with regard to which Merck is a reference product sponsor involving the Marketing Authorization for a Licensed Product held by Merck or its Related Party (“Biosimilar
Application”). Company shall provide Merck with the unopened Biosimilar Application within [***] Business Days of receipt. Company shall review the Biosimilar Application to the extent necessary to determine to whose attention at Merck it
needs to be directed. Company shall use reasonable efforts to not open any sealed contents, if any, within the envelope containing the Biosimilar Application. If Company does open the sealed contents of any Biosimilar Application, or if the
Biosimilar Application is not contained within a sealed envelope inside the delivery packaging, Company shall (a) not substantively review the Biosimilar Application, (b) so notify Merck, and (c) cooperate with Merck to obtain the
relevant applicant’s consent to forward the Biosimilar Application to Merck. Merck shall choose the recipients of information under 42 U.S.C. §262 (l)(1)(B)(ii). 

  
 45 

 ARTICLE 10     INDEMNIFICATION 

 

	10.1	 Indemnification by Merck. Merck hereby agrees to defend, indemnify, and hold harmless Company and
its Affiliates and their respective directors, officers, employees, and agents (each, a “Company Indemnitee”) from and against any and all liabilities, expenses, and losses, including reasonable legal expenses and attorneys’
fees (collectively, “Losses”) incurred by any Company Indemnitee as a result of any claim, demand, action, or other proceeding (each, a “Claim”) by any Third Party to the extent such Losses arise out of:

  

	 	10.1.1	 the Research and development, use, manufacture, commercialization, or other disposition of any
Collaboration Candidate or Licensed Product by or on behalf of Merck or any Related Party (excluding by Company under this Agreement); 

  

	 	10.1.2	 the negligence or willful misconduct of any Merck Indemnitee or Related Party; or 

 

	 	10.1.3	 the breach by Merck of any warranty, representation, covenant, or agreement made by Merck in this
Agreement; 

 except, in each case (Section 10.1.1-10.1.3) to the extent such
Losses arise out of any activities set forth in Sections 10.2.1-10.2.2 for which Company is obligated to indemnify any Merck Indemnitee under Section 10.2. 

 

	10.2	 Indemnification by Company. Company hereby agrees to defend, indemnify, and hold harmless Merck
and its Affiliates and their respective directors, officers, employees, and agents (each, a “Merck Indemnitee”) from and against any and all Losses incurred by Merck Indemnitee as a result of any Claim by any Third Party to the
extent such Losses arise out of: 

  

	 	10.2.1	 the negligence or willful misconduct of any Company Indemnitee or any sublicensee of Company or any of
its Affiliates of any intellectual property licensed by Merck to Company hereunder; or 

  

	 	10.2.2	 the breach by Company of any warranty, representation, covenant, or agreement made by Company in this
Agreement; 

 except, in each case (Section 10.2.1-10.2.2) to the extent such
Losses arise out of any activities set forth in Sections 10.1.1-10.1.3 for which Merck is obligated to indemnify any Company Indemnitee under Section 10.1. 

 

	10.3	 Procedure. 

 

	 	10.3.1	 The Party claiming indemnity under this Article 10 (the “Indemnified Party”) shall give
written notice to the Party from whom indemnity is being sought (the “Indemnifying Party”) promptly after learning of such Claim, provided, that the failure or delay by an Indemnified Party to give such notice of a Claim shall not
affect the indemnification provided hereunder except to the extent the Indemnifying Party has been prejudiced as a result of such failure or delay to give such notice. 

 

	 	10.3.2	 The Indemnified Party shall provide the Indemnifying Party with reasonable assistance, at the
Indemnifying Party’s expense, in connection with the defense of the Claim for which indemnity is being sought. The Indemnified Party may participate in and monitor such 

  
 46 

	 	
defense with counsel of its own choice at its own expense; provided, however, that the Indemnifying Party shall have the right to assume and conduct the defense of the Claim with counsel of its
choice. 

  

	 	10.3.3	 The Indemnifying Party shall not settle any Claim without the prior written consent of the Indemnified
Party, not to be unreasonably withheld, conditioned, or delayed, unless the settlement involves only the payment of money, no admission of wrong-doing or fault by the Indemnified Party, and no restriction on the future actions or activities of the
Indemnified Party. The Indemnified Party shall not settle such Claim without the prior written consent of the Indemnifying Party, not to be unreasonably withheld, conditioned, or delayed. 

 

	 	10.3.4	 If the Indemnifying Party does not assume and conduct the defense of the Claim as provided above,
(i) the Indemnified Party may defend against and consent to the entry of any judgment, or enter into any settlement with respect to, the Claim in any manner the Indemnified Party may deem reasonably appropriate so long as the settlement
involves only the payment of money, no admission of wrong-doing or fault by the Indemnifying Party, and no restriction on the future actions or activities of the Indemnifying Party, and (ii) the Indemnifying Party will remain responsible to
indemnify the Indemnified Party as provided in this Article 10. 

 ARTICLE 11    TERM AND TERMINATION 

 

	11.1	 Term and Expiration. This Agreement shall be effective as of the Effective Date and unless
terminated earlier pursuant to Sections 11.2 or 11.3, shall continue in full force and effect until all payment obligations under Article 7 have been made by Merck or otherwise expired for all Licensed Products in the Territory (the
“Term”). Upon expiration (but not early termination) of this Agreement and provided that all payments hereunder have been made, Merck’s licenses pursuant to Section 3.1 shall become fully paid-up, perpetual licenses. 

  

	11.2	 Termination by Merck other than for Cause. 

 

	 	11.2.1	 Termination by Merck. Notwithstanding anything contained herein to the contrary, Merck shall have the
right to terminate this Agreement (i) in its entirety or (ii) for a given Collaboration Target, at any time in its sole discretion by giving [***] days’ advance written notice to Company. For the avoidance of doubt, termination by
Merck under this Section can be effected only through a written notice specifically referring to this Section 11.2. 

  

	 	11.2.2	 Effect of Termination by Merck. 

 

	 	(a)	 No later than [***] days after the effective date of such termination, each Party shall return or cause to be
returned to the other Party, or destroy, as determined by the other Party, all Information in tangible form received from the other Party and all copies thereof; provided, however, that each Party may retain any Information reasonably
necessary for such Party’s continued practice under any license(s) which do not terminate pursuant to this Section 11.2, and may keep one copy of Information received from the other Party in its confidential files for record purposes or to
demonstrate compliance with its obligations, or assert its rights, under this Agreement; and further, provided, that a Party shall not be 

  
 47 

	 	
required to erase electronic files created in the ordinary course of business during automatic system back-up procedures pursuant to its electronic record
retention and destruction practices that apply to its own general electronic files and information so long as such electronic files are (i) maintained only on centralized storage servers (and not on personal computers or devices), (ii) not
accessible by any of its personnel (other than its information technology specialists), and (iii) are not otherwise accessed subsequently except with the written consent of the other Party or as required by law or legal process. Such retained
copies of Information shall remain subject to the confidentiality and non-use obligations herein. 

  

	 	(b)	 In the event of termination of this Agreement under this Section 11.2: (i) each Party shall pay all
amounts then due and owing as of the termination date; (ii) except for the surviving provisions set forth in Section 11.4 and otherwise set forth in this Section 11.2.2, the rights and obligations of the Parties hereunder shall
terminate as of the date of such termination; (iii) the license granted by Company to Merck under Section 3.1.1 shall become a perpetual, exclusive license and further, [***]; and (iv) subject to the license grant in forgoing clause
(iii), Section 2.12.3 will survive such termination. 

  

	 	(c)	 In the event of termination of this Agreement with respect to a given Collaboration Target, the provisions of
Section 11.2.2(b) shall apply solely with respect to such terminated Collaboration Target. Upon the effective date of termination, such terminated Collaboration Target (a “Terminated Target”) shall
automatically cease to be a Collaboration Target for all purposes of this Agreement and Merck shall cease, and cause its Related Parties to cease, all Research, development, manufacture, and commercialization activities with respect to Collaboration
Candidates and Licensed Products directed to such Terminated Target. For the avoidance of doubt, all provisions of this Agreement shall remain in effect with respect to any Collaboration Target(s) that is not a Terminated Target (and Collaboration
Candidates and Licensed Products directed to such Collaboration Target(s)). 

  

	11.3	 Termination for Cause. 

 

	 	11.3.1	 Cause for Termination. This Agreement may be terminated at any time during the Term:

  

	 	(a)	 upon written notice by either Party if the other Party is in breach of its material obligations hereunder and
has not cured such breach within [***] days ([***] days in the case of a breach of any payment obligations hereunder) after notice requesting cure of the breach; provided, however, in the event of a good faith dispute with respect to
the existence of a material breach, the aforementioned cure period shall be tolled until such time as the dispute is resolved pursuant to Section 12.8; or 

 

	 	(b)	 by either Party upon the filing or institution of bankruptcy, reorganization, liquidation or receivership
proceedings, or upon an assignment of a substantial 

  
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portion of the assets for the benefit of creditors by the other Party; provided, however, that in the case of any involuntary bankruptcy proceeding such right to terminate shall
only become effective if the Party consents to the involuntary bankruptcy or such proceeding is not dismissed within [***] days after the filing thereof. 

  

	 	11.3.2	 Effect of Termination for Cause. 

 

	 	(a)	 Except for the surviving provisions set forth in Section 11.4 and otherwise set forth in this
Section 11.3, the rights and obligations of the Parties hereunder (including the licenses granted to a Party by the other Party hereunder) shall terminate as of the date of a termination under Section 11.3. 

 

	 	(b)	 No later than [***] days after the effective date of termination under this Section 11.3, each Party shall
return or cause to be returned to the other Party (or destroy, as determined by the other Party) all Information in tangible form received from the other Party and all copies thereof; provided, however, that each Party may keep one
copy of Information received from the other Party in its confidential files for record purposes or to demonstrate compliance with its obligations, or assert its rights, under this Agreement; and further, provided, that a Party shall
not be required to erase electronic files created in the ordinary course of business during automatic system back-up procedures pursuant to its electronic record retention and destruction practices that apply
to its own general electronic files and information so long as such electronic files are (i) maintained only on centralized storage servers (and not on personal computers or devices), (ii) not accessible by any of its personnel (other than its
information technology specialists), and (iii) are not otherwise accessed subsequently except with the written consent of the other Party or as required by law or legal process. Such retained copies of Information shall remain subject to the
confidentiality and non-use obligations herein. 

  

	 	(c)	 If Merck terminates this Agreement under Section 11.3.1(a) [***]: (A) where Merck wishes to continue the
development and/or commercialization of a Licensed Product, then (i) Merck’s licenses pursuant to Sections 3.1.1 through 3.1.5 shall survive, (ii) Merck shall remain responsible for the payment obligations under Sections 7.4 and
7.5.1; wherein any remaining amounts payable by Merck under each such Section following termination shall be reduced by [***] for the purposes of this paragraph, and (iii) in addition to the provisions of this Agreement that survive in
accordance with Section 11.4, Sections 3.1.6, 3.5, 7.6, 7.7, 7.8, 7.9, 7.10,11.1, 11.2, 11.3 and 11.4 shall survive such termination. [***] or (B) where Merck elects not to continue the development or commercialization of a Licensed
Product, Merck’s licenses under Sections 3.1.1 and 3.1.4 shall survive such termination and Merck shall be entitled to any other remedies it may have under this Agreement or otherwise. 

  
 49 

	 	(d)	 If Company terminates this Agreement under Section 11.3.1(a) [***]: (i) the license granted by Company to
Merck under Section 3.1.1 shall become a perpetual, exclusive license; (ii) Merck’s licenses pursuant to Section 3.1.2 through 3.1.5 shall terminate; and (iii) [***]. 

 

	 	(e)	 If Company terminates this Agreement under Section 11.3.1(a) [***], Merck and its Affiliates, sublicensees
and distributors shall be entitled, during the [***] after the effective date of such termination, to finish any work-in-progress and to sell any Collaboration
Candidates or Licensed Products remaining in inventory. For any Collaboration Candidates or Licensed Products sold by Merck and its Affiliates, sublicensees and distributors after the effective date of a termination, Merck shall continue to pay any
payments due pursuant to Sections 7.4 and 7.5. 

  

	 	(f)	 If Merck has the right to terminate this Agreement pursuant to Section 11.3.1(b) due to the rejection of
this Agreement by or on behalf of Company under Section 365 of the United States Bankruptcy Code (the “Code”), but elects to maintain this Agreement in effect and not to terminate it, all licenses and rights to licenses granted
under or pursuant to this Agreement by Company to Merck are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the Code, licenses of rights to “intellectual property” as defined under Section 101(35A) of the
Code. The Parties agree that Merck, as a licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the Code, and that upon commencement of a bankruptcy proceeding by or against Company
under the Code, Merck shall be entitled to a complete duplicate of or complete access to, any such intellectual property and all embodiments of such intellectual property. Such intellectual property and all embodiments thereof shall be promptly
delivered to Merck (i) upon any such commencement of a bankruptcy proceeding upon written request therefore by Merck, unless Company elects to continue to perform all of its obligations under this Agreement or (ii) if not delivered under
(i) above, upon the rejection of this Agreement by or on behalf of Company upon written request therefore by Merck. The foregoing provisions of Section 11.3.2(e) are without prejudice to any rights Merck may have arising under the Code or
other applicable law. 

  

	11.4	 Effect of Expiration or Termination; Survival. Expiration or termination of this Agreement
shall not relieve the Parties of any obligation accruing prior to such expiration or termination. Any expiration or termination of this Agreement shall be without prejudice to the rights of either Party against the other accrued or accruing under
this Agreement prior to expiration or termination, including without limitation the obligation to pay royalties for Licensed Product(s) sold prior to such expiration or termination. The provisions of Article 6 shall survive the expiration or
termination of this Agreement and shall continue in effect for [***] years. In addition, the provisions of Article 1, Article 8, Article 9, Article 10 and Article 12, and Sections 2.12.1, 2.12.3, 3.3, 11.1 (second sentence only), 11.2.2, 11.3.2, and
11.4 shall survive any expiration or termination of this Agreement. 

  
 50 

 ARTICLE 12     MISCELLANEOUS 

 

	12.1	 Compliance with Partnered Program Agreement. The Parties agree that Merck is an intended
third-party beneficiary of the Partnered Program Agreement. [***] 

  

	12.2	 Force Majeure. Neither Party shall be held liable to the other Party nor be deemed to have defaulted
under or breached this Agreement for failure or delay in performing any obligation under this Agreement to the extent such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, potentially
including embargoes, war, acts of war (whether war be declared or not), acts of terrorism, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, fire, floods, epidemics, or other acts of God, or acts, omissions or
delays in acting by any governmental authority. The affected Party shall notify the other Party of such force majeure circumstances as soon as reasonably practical, and shall promptly undertake all reasonable efforts necessary to cure such force
majeure circumstances. 

  

	12.3	 Assignment. Except as provided in this Section 12.3, this Agreement may not be
assigned or otherwise transferred, nor may any right or obligation hereunder be assigned or transferred, by either Party without the consent of the other Party; provided, however, that either Party may, without such consent, assign, in
whole or in part, this Agreement and its rights and obligations hereunder (a) to an Affiliate or (b) in connection with the transfer or sale of all or substantially all of its assets related to the subject matter of this Agreement, or in
the event of its merger or consolidation or change in control or similar transaction; provided further that in the event of any such transaction described in the foregoing (b) (whether this Agreement is actually assigned or is assumed by the
acquiring party by operation of law (e.g., in the context of a reverse triangular merger)), the Patent Rights, Know-How, and other intellectual property rights of the acquiring party to such transaction (if
other than one of the Parties to this Agreement) shall not be included in the technology for which rights have been granted under this Agreement. Any attempted assignment not in accordance with this Section 12.3 shall be void. Any permitted
assignee shall assume all assigned obligations of its assignor under this Agreement. 

  

	12.4	 Use of Affiliates. 

 

	 	12.4.1	 Each of Company and Merck shall have the right to exercise its rights and perform its obligations under
this Agreement either itself or through any of its Affiliates. Each Party hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement and shall cause its Affiliates to comply with the provisions of this
Agreement in connection with such performance. Any breach by a Party’s Affiliate of any of such Party’s obligations under this Agreement shall be deemed a breach by such Party, and the other Party may proceed directly against such Party
without any obligation to first proceed against such Party’s Affiliate. For the purposes of this Section 12.4, each of GCLC and GCC shall be deemed an “Affiliate” of Company. 

  
 51 

	 	12.4.2	 For purposes of this Section 12.4, a “Competing Pharma Change of
Control” means a change of control in which a company or group of companies acting in concert to acquire the Company as of immediately prior to such change of control of the Company [***]. 

 

	 	12.4.3	 In the event there is a change of control of Company that is a Competing Pharma Change of Control, then
Company shall provide written notice to Merck within [***] business days of the consummation of such Competing Pharma Change of Control, and Merck shall have the right, at Merck’s election, to implement some or all of the following revisions to
this Agreement: 

  

	 	12.4.4	 Merck may limit its obligations to provide Company royalty reports pursuant to Section 7.6 to
[***]; and 

  

	 	12.4.5	 Merck may require Company to adopt reasonable procedures [***] to prevent the disclosure of all
confidential, unpublished intellectual property rights licensed by Merck to Company under this Agreement and other Information relating to a Collaboration Target, Information of Merck, and other information with respect to the development and
commercialization of Collaboration Candidate and Licensed Product (collectively, “Sensitive Information”) beyond Company personnel having a need to know in order for Company to perform its obligations under this Agreement and to
control the dissemination of Sensitive Information disclosed after the Competing Pharma Change of Control. The purposes of such procedures shall be to strictly limit such disclosures to only those personnel having a need to know Sensitive
Information in order for Company to perform its obligations under this Agreement and to prohibit the use of Sensitive Information for competitive reasons against Merck and its Related Parties and Collaboration Candidates or Licensed Products,
including the use of Sensitive Information for the development or commercialization of competing products. 

  

	12.5	 Severability. If any one or more of the provisions contained in this Agreement is held invalid, illegal
or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the
substantive rights of the Parties. The Parties shall in such an instance use reasonable efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the
purposes of this Agreement. 

  

	12.6	 Notices. All notices which are required or permitted hereunder shall be in writing and
sufficient if delivered personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by nationally-recognized overnight courier or sent by registered or certified mail, postage
prepaid, return receipt requested, addressed as follows: 

  

			
	if to Company, to:	  	 Artiva Biotherapeutics, Inc.

4747 Executive Drive, Suite 1150

  
 52 

			
		  	 San Diego, CA 92121

Attention: [***]
 Email: [***]

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

[***]

		
	if to Merck, to:	  	 Merck Sharp & Dohme Corp.
 [***]

Attention: [***]
 Email: [***]

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

		
		  	 Merck Sharp & Dohme Corp.
 [***]

Attention: [***]
  

and
  

Merck Sharp & Dohme Corp.
 [***]

Attention: [***]

 or to such other address(es) as the Party to whom notice is to be given may have furnished to the other Party
in writing in accordance herewith. Any such notice shall be deemed to have been given: (a) when delivered if personally delivered or sent by facsimile on a business day (or if delivered or sent on a
non-business day, then on the next business day); (b) on the business day after dispatch if sent by nationally-recognized overnight courier; or (c) on the fifth (5th) business day following the date of mailing, if sent by mail. The Parties hereby agree that, to the extent permitted by law, any notice provided in accordance with this Section shall constitute due
service of process with respect to any legal proceeding between the Parties arising hereunder and that compliance with the Hague Convention for the Service of Process, if otherwise applicable, shall not be required. 

 

	12.7	 Applicable Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of New York without reference to any rules of conflict of laws or renvoi. 

  

	12.8	 Dispute Resolution. 

 

	 	12.8.1	 The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy
or claim arising from or related to this Agreement or the breach thereof (a 

  
 53 

	 	
“Dispute”). Any Party shall give the other Party written notice of any Dispute not resolved in the normal course of business. Within [***] days from the date of delivery of such
notice, the receiving Party shall submit to the other Party a written response. The notice and response shall include (A) a statement of that Party’s position and a summary of arguments supporting that position, and (B) the name and
title of the executive who will represent that Party and of any other person who will accompany the executive. Within [***] days from the date of delivery of the initial notice, the executives of both Parties shall meet at a mutually acceptable time
and place, and thereafter as often as they reasonably deem necessary, to attempt to resolve the Dispute. These executives shall have the authority to settle the Dispute and shall be at a higher level of management than the persons with direct
responsibility for administration of this Agreement. All negotiations pursuant to this paragraph are confidential and shall be treated as compromise and settlement negotiations for purposes of applicable rules of evidence. 

 

	 	12.8.2	 If the Parties do not fully settle following the procedure in Section 12.8.1, and a Party wishes to pursue
the matter, each dispute, controversy or claim arising from or related to this Agreement or the breach thereof that is not an “Excluded Claim” shall be brought in the federal court for the Southern District of New York, if federal
jurisdiction is available, or, alternatively, in the state courts in New York County, New York. Each of the Parties hereby submits to the exclusive jurisdiction of such courts for the purpose of any such litigation; provided, that a final
judgment in any such litigation shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each party irrevocably and unconditionally agrees not to assert (a) any objection
which it may ever have to the laying of venue of any such litigation in such courts, (b) any claim that any such litigation brought in any such court has been brought in an inconvenient forum, and (c) any claim that such court does not
have jurisdiction with respect to such litigation. EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO A TRIAL BY JURY AND AGREES THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING,
VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE ITS RIGHT TO TRIAL BY JURY IN ANY LITIGATION. 

 

	 	12.8.3	 The Parties agree that, in the event of a good faith dispute over the nature or quality of performance
under this Agreement, neither Party may terminate this Agreement until final resolution of the dispute through judicial determination. The Parties further agree that any payments made pursuant to this Agreement pending resolution of the dispute
shall be refunded if a court determines that such payments are not due. 

  

	 	12.8.4	 As used in this Section, the term “Excluded Claim” shall mean a dispute, controversy or
claim that concerns (a) a decision by the JRCC or Merck within the proper scope of the JRCC’s or Merck’s authority pursuant to Section 2.8.1, or an issue concerning the integrity of data submitted to a regulatory agency, neither
of which shall be arbitrable or justiciable in any forum; (b) the validity or infringement of a patent, trademark or copyright; or (c) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. Any action
concerning Excluded Claims identified in clauses (b) and (c) of this Paragraph may be brought in any court having jurisdiction.  

  

	12.9	 Limitation of Liability. EXCEPT FOR DAMAGES THAT (A) ARISE IN CONNECTION WITH A PARTY’S
(I) WILLFUL MISCONDUCT OR FRAUD OR (II) [***], 

  
 54 

	 	
NEITHER PARTY SHALL BE LIABLE IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY, OR OTHERWISE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OR FOR LOSS OF
PROFITS OR LOST SALE DAMAGES SUFFERED BY THE OTHER PARTY (OR ITS AFFILIATES), REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. 

  

	12.10	 Entire Agreement; Amendments. This Agreement, together with the Schedules and Exhibits hereto, contains
the entire understanding of the Parties with respect to the subject matter hereof. Any other express or implied agreements and understandings, negotiations, writings and commitments, either oral or written, with respect to the subject
matter hereof are superseded by the terms of this Agreement (including that certain confidentiality agreement between the Parties dated as of [***]; provided that all “Confidential Information” disclosed or received under such
confidentiality agreement shall be deemed “Confidential Information” under this Agreement and subject to the terms and conditions of this Agreement). The Schedules and Exhibits to this Agreement are incorporated herein by reference and
shall be deemed a part of this Agreement. This Agreement may be amended, or any term hereof modified, only by a written instrument duly executed by authorized representative(s) of both Parties hereto. 

[***] 
  

	12.11	 Headings. The captions to the several Articles, Sections and subsections hereof are not a
part of this Agreement, but are merely for convenience to assist in locating and reading the several Articles and Sections hereof. 

  

	12.12	 Independent Contractors. It is expressly agreed that Company and Merck shall be independent
contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture or agency. Neither Company nor Merck 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. The Parties (and any successor, assignee, transferee, or Affiliate of a Party) shall not treat or report the relationship between the
Parties arising under this Agreement as a partnership for United States tax purposes, without the prior written consent of the other Party. 

  

	12.13	 Waiver. The waiver by either Party hereto of any right hereunder, or of any failure of the
other Party to perform, or of any breach by the other Party, shall not be deemed a waiver of any other right hereunder or of any other breach by or failure of such other Party whether of a similar nature or otherwise. No waiver shall be valid unless
in writing and signed by the waiving Party. 

  

	12.14	 Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in
connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply. 

 

	12.15	 Certain Conventions. Any reference in this Agreement to an Article, Section, subsection, paragraph,
clause, Schedule or Exhibit shall be deemed to be a reference to an Article, Section, subsection, paragraph, clause, Schedule or Exhibit, of or to, as the case may be, this Agreement,

  
 55 

	 	
unless otherwise indicated. Whenever this Agreement refers to a number of days, unless otherwise specified, such number refers to calendar days. Unless the context of this Agreement otherwise
requires, (a) words of any gender include each other gender, (b) words such as “herein”, “hereof”, and “hereunder” refer to this Agreement as a whole and not merely to the particular provision in which such
words appear, (c) the word “including” means “including, without limitation,” (d) the word “or” means “and/or” unless the context dictates otherwise because the subject of the conjunction are
mutually exclusive, and (e) words using the singular shall include the plural, and vice versa. References to either Party include the successors and permitted assigns of that Party. This Agreement has been prepared in the English language and
English shall control its interpretation. 

  

	12.16	 Business Day Requirements. In the event that any notice or other action or omission is required to be
taken by a Party under this Agreement on a day that is not a business day, then such notice or other action or omission shall be deemed to be required to be taken on the next occurring business day. 

 

	12.17	 Counterparts. This Agreement may be signed in any number of counterparts (including by
facsimile or electronic transmission), each of which shall be deemed an original, but all of which shall constitute one and the same instrument. After facsimile or electronic transmission, the Parties agree to execute and exchange documents with
original signatures. 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. 

 

					
	Merck Sharp & Dohme Corp.	 		 	Artiva Biotherapeutics, Inc.
			
	BY: /s/ Benjamin Thorner	 		 	BY: /s/ Fred Aslan
			
	 NAME: Benjamin Thorner
  

TITLE: SVP & Head of BD&L, MRL
	 	         

	 	 NAME: Fred Aslan
  

TITLE: CEO

  
 56 

 SCHEDULE 2.1.1 

[***] 

 SCHEDULE 2.2 

[***] 

 SCHEDULE 6.4 

 
 

 
 PRESS RELEASE 

Artiva Biotherapeutics Announces Exclusive Worldwide Collaboration and License Agreement with Merck to Develop Candidate
CAR-NK Cell Therapies 
  

	 	•	 	 Collaboration utilizes Artiva’s proprietary off-the-shelf allogeneic NK cell and CAR technology platforms to develop up to three CAR-NK cell therapies targeting solid tumor-associated antigens 

  

	 	•	 	 Artiva to receive $30 million upfront payment for first two targets, R&D funding, up to
$1.9 billion in potential future development and commercial milestones, and royalties on any future worldwide product sales 

  

	 	•	 	 Artiva to develop novel CAR-NK cell therapy candidates and transfer to
Merck for clinical development and commercialization 

 SAN DIEGO, January 28, 2020 — Artiva
Biotherapeutics, Inc., an oncology company focused on developing and commercializing primary allogeneic natural killer (NK) cell therapies to treat cancer, announced today that it has entered into an exclusive worldwide collaboration and license
agreement with Merck, known as MSD outside the United States and Canada, to develop novel chimeric antigen receptor (CAR)-NK cell therapies targeting solid tumor-associated antigens. The collaboration will
leverage Artiva’s off-the-shelf allogeneic NK cell manufacturing platform, along with its proprietary CAR-NK technology. The
collaboration initially includes two CAR-NK programs with an option for a third, none of which are in Artiva’s current or planned pipeline. The agreement provides that Artiva will develop the CAR-NK programs through the first GMP manufacturing campaign and IND preparation, followed by transfer to Merck for clinical and commercial development. 

Under the terms of the agreement, Artiva will receive a $30 million upfront payment for the first two programs and an additional $15 million payment
if Merck exercises its option for a third program. Artiva is also eligible to receive future development and commercial milestones of up to $612 million per program and royalties are payable by Merck on worldwide sales of any product derived
from the collaboration. Merck agreed to provide research funding to Artiva for each of the three programs under the collaboration. 
 “Our NK platform
has been developed to be truly off-the-shelf and we believe it will be further validated by this exclusive collaboration with Merck, as we work together to bring cell
therapies to all patients who may benefit,” said Dr. Peter Flynn, COO of Artiva. “This collaboration will combine Merck’s leading immuno-oncology expertise and capabilities with our highly scaled and optimized CAR-NK platform,” added Dr. Fred Aslan, CEO of Artiva. 
 “At Merck, we continue to explore new ways to
transform the most innovative science into better therapies for patients who need them most,” said Dr. Nick Haining, Vice President, Head of Discovery Oncology and Immunology, Merck Research Laboratories. “We look forward to working
with the team at Artiva with the hope of developing new NK cell-based treatments for cancer.” 
 Artiva’s targeted NK cell therapies leverage the
innate anti-tumor biology and safety features of NK cells. The therapies are optimized for enhanced efficacy through CARs, therapeutic antibody combination therapy, and genetic engineering. The Merck CAR-NK
collaboration programs will leverage Artiva’s novel NK-specific CAR costimulatory structures and highly scaled, proprietary NK cell manufacturing platform. Artiva’s manufacturing platform supports
large-scale production and cryopreservation of off-the-shelf allogeneic NK cell therapies and proprietary CAR-NK and NK-specific gene-editing technologies to augment therapeutic activity. 
 About Artiva Biotherapeutics: Scaling NK Cell
Therapy for Cancer 
 Artiva’s mission is to deliver to cancer patients highly effective cellular immunotherapies that are safe and immediately
accessible. Artiva’s internal CAR-NK programs include AB-201, a novel HER2-specific CAR-NK cell therapy for the treatment of
HER2+ solid tumors, and AB-202, a CD19-specific CAR-NK cell therapy for the treatment of B-cell malignancies, which is being
developed under Artiva’s master license and option agreement with GC LabCell Corporation, with plans to enter clinical trials in 2021 and 2022, respectively. Artiva’s pipeline also includes AB-101, a
universal NK cell therapy for use in combination with monoclonal antibodies or innate-cell engagers. The company is currently advancing AB-101 into clinical trials in combination with anti-CD20 monoclonal
antibody therapy for the treatment of relapsed refractory B-cell lymphoma. Artiva’s NK cell platform incorporates cell expansion, activation, and engineering technology developed by the company’s
corporate partner, GC LabCell, a member of the GC family of companies, one of the Republic of Korea’s leading biopharmaceutical groups. Artiva is headquartered in San Diego. For more info, please visit www.artivabio.com. 

Media Contact: Jessica Yingling, Ph.D., Little Dog Communications, jessica@litldog.com, +1.858.344.8091 

 SCHEDULE 8.2.11 

[***] 

 SCHEDULE 8.3 

[***]EX-10.22

 Exhibit 10.22 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 MERCK PARTNERED PRODUCT RESEARCH SERVICES AND LICENSE AGREEMENT 

THIS MERCK PARTNERED PRODUCT RESEARCH SERVICES
AND LICENSE AGREEMENT (the “Agreement”) is made as of January 27, 2021 (the “Effective Date”), by and between
ARTIVA BIOTHERAPEUTICS, INC., a Delaware corporation (“Artiva”), having an address of 4747 Executive Drive, Suite 1150, San Diego, CA 92121, and GREEN
CROSS LABCELL CORPORATION, a Korean corporation (“GCLC”), with its principal place of business at 107,
Ihyeon-ro 30 beon-gil, Giheung-gu, Yongin-si,
Gyeonggi-do, 446-850, 16924, Republic of Korea. 

RECITALS 

WHEREAS, Artiva and GCLC are parties to that certain Option and License Agreement dated September 4, 2019, as
amended on June 23, 2020 (as may be amended in accordance with its terms, the “Master Agreement”); 

WHEREAS, Artiva and Merck Sharp & Dohme Corp. (“Merck”) are entering into
that certain Collaboration and License Agreement (attached hereto as Exhibit C, as may be amended in accordance with its terms, the “Collaboration Agreement”), for the development and commercialization of
Merck Products targeting up to three Collaboration Targets (as defined below); 
 WHEREAS, in order to facilitate the
Collaboration Agreement, with respect to the Merck Products only, Artiva and GCLC desire to provide for certain modifications to the terms of the license granted by GCLC to Artiva under the Master Agreement and to modify the payments to be made by
Artiva to GCLC solely with respect to the Merck Products as set forth in this Agreement during the term of this Agreement; 

WHEREAS, GCLC has personnel, expertise and facilities suitable for performing preclinical research and development
services on behalf of third parties; 
 WHEREAS, Artiva desires to engage GCLC to provide mutually agreed research
services in support of the research and development of the Merck Products, to be overseen by the JRCC (as defined in the Collaboration Agreement), in accordance with the responsibilities and authority of the JRCC set forth in the Collaboration
Agreement; 
 WHEREAS, Artiva and GCLC desire to enter into this Agreement to govern the relationship between the
parties with respect to the Merck Products and the terms and conditions that would apply to the services, license and other matters described above. 
  

 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and premises contained in this
Agreement, the receipt and sufficiency of which are hereby expressly acknowledged, the parties hereto agree as follows: 
  

	1.	 DEFINITIONS. 

Capitalized terms used in this Agreement (other than the headings of the Sections or Articles) have the following meanings set forth in this Article 1, or, if
not listed in this Article 1, the meanings as designated in the text of this Agreement. Capitalized terms used in this Agreement but not otherwise defined herein shall have such meanings ascribed to them in the Master Agreement. 

1.1 “Affiliate” means, with respect to a particular party, a person, corporation,
partnership, or other entity that controls, is controlled by or is under common control with such party. For the purposes of the definition in this Section 1.1, the word “control” (including, with correlative meaning, the terms
“controlled by” or “under the common control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such
entity, whether by the ownership of at least fifty percent (50%) of the voting stock of such entity, or by contract or otherwise. 

1.2 “Antibody Binder” shall mean the antigen recognition domains of any and all proteins, protein fragments,
or peptides that contain a heavy chain complementarity determining region 3 (CDR3) from an antibody directed to a Collaboration Target. For clarity, the proteins, protein fragments, or peptides as used in the foregoing sentence shall include full
length antibodies, nanobodies, antigen-binding fragments (Fabs), and single-chain variable domain fragments (scFvs). 

1.3 “Arbitrators” shall have the meaning set forth in Section 11.5. 

1.4 “Arising GCLC Core IP” shall mean any Arising Intellectual Property relating to methods and tools for
culturing or engineering NK Cells, NK Cells produced and/or reduced to practice by such methods (including NK Cells containing CARs and NK Cells with other receptor or marker modifications) to the extent they do not include an antigen recognition
domain that targets a Collaboration Target, or the use or manufacture thereof, NK Cell manufacturing and production methods or cryoformulation technologies. For clarity, Patents within Arising GCLC Core IP shall not recite (a) a Collaboration
Candidate or (b) a CAR-NK Cell expressing a CAR containing an Antibody Binder directed to a Collaboration Target or a CAR structure containing an Antibody Binder directed to a Collaboration Target; any
such Patents shall be Arising Merck Product IP.      

  
 2. 

 1.5 “Arising Intellectual Property” shall mean any
invention conceived or reduced to practice in performance of the Services under this Agreement, or in the Work Product generated under this Agreement by GCLC’s employees, agents, consultants, subcontractors or other representatives, either
solely or jointly with employees, agents, consultants or other representatives of Artiva and/or Merck, including all patent and other intellectual property rights therein. 

1.6 “Arising Merck Product IP” shall mean such Arising Intellectual Property that (a) is conceived and/or
reduced to practice in the course of, or as a result of, performance of the Research and CMC Plan and associated Work Orders; and (b) relates specifically to any of the following: 

(i) a Collaboration Candidate, CAR-NK Cell expressing a CAR containing an Antibody Binder directed to a
Collaboration Target, or a CAR structure containing an Antibody Binder directed to a Collaboration Target, including compositions, methods of use or processes of manufacture that are specific to the manufacture or use of any such Collaboration
Candidate, CAR-NK Cell, or CAR structure, as applicable; 
 (ii) Antibody Binders (including
compositions, methods of use, or processes of manufacture of an Antibody Binder); or 
 (iii) any other Arising Intellectual Property that is
not Arising GCLC Core IP. 
 For clarity, any Patents within Arising Intellectual Property that recite a Collaboration Candidate, a CAR-NK Cell expressing a CAR containing an Antibody Binder directed to a Collaboration Target, a CAR structure containing an Antibody Binder directed to a Collaboration Target, or an Antibody Binder directed to a
Collaboration Target shall be considered Arising Merck Product IP. 
 1.7
“CAR-NK Cell” shall mean a NK cell expressing a Chimeric Antigen Receptor. 

1.8 “C.F.R.” shall mean the Code of Federal Regulations, as amended. 

1.9 “Chimeric Antigen Receptor” or “CAR” shall mean an engineered single-chain antigen receptor composed of four distinct modules comprising: (i) an antigen recognition domain (ii) an extracellular hinge region, (iii) a transmembrane domain, and (iv) an
intracellular signaling domain, including one or more chimeric domains from co-stimulatory proteins. 

1.10 “Claim” shall have the meaning set forth in Section 11.5. 

1.11 “Collaboration Candidate” shall mean any CAR-NK Cell that
(i) is generated by or on behalf of Artiva and/or Merck under the Collaboration Agreement, (ii) targets a Collaboration Target, and (iii) has been designated as a lead or backup candidate under the Research and CMC Plan. 

  
 3. 

 1.12 “Collaboration Targets” shall mean any target
designated as a Collaboration Target (as such term is defined in the Collaboration Agreement) in the Collaboration Agreement and approved by GCLC, including the potential Collaboration Targets set forth in Exhibit A. Such approval may only be
withheld in the event of a Conflict, which shall mean with respect to any solid tumor associated antigen that is proposed as a Collaboration Target by Merck, that as of the date of such proposal by Merck, such solid tumor associated antigen is: (i)
[***], (ii) [***] or (iii) [***]. 
 1.13 “Confidential Information” shall have the meaning set forth in
Section 7.1. 
 1.14 “GCLC Background IP” shall mean any intellectual property owned or controlled by
GCLC as of the Effective Date of this Agreement relating to methods and tools for culturing or engineering NK Cells, NK Cells produced and/or reduced to practice by such methods (including NK Cells containing CARs and NK Cells with other receptor or
marker modifications), or the use or manufacture thereof, NK Cell manufacturing and production methods or cryoformulation technologies; or any such intellectual property invented or acquired by GCLC during the Term independent of this Agreement,
which GCLC makes available to Artiva for purposes of performing the Services under this Agreement. For clarity, such GCLC Background IP shall include all patents and patent applications listed in Exhibit E and any and all divisionals,
continuations, continuations-in-part, reissues, renewals, substitutions, registrations, re-examinations, revalidations,
extensions, supplementary protection certificates, and the like of any such patents and patent applications, and foreign equivalents of any of the foregoing. 

1.15 “GCLC Territory” shall mean Asia, Australia, and New Zealand. For clarity, Asia includes China
(including Hong Kong and Macau), Japan, Mongolia, North Korea, South Korea, Taiwan, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste, Vietnam, Afghanistan, Bangladesh, Bhutan, India,
Maldives, Nepal, Pakistan and Sri Lanka. 
 1.16 “ICDR” shall have the meaning set forth in
Section 11.5. 
 1.17 “Materials” shall have the meaning set forth in Section 3.6. 

1.18 “Merck Field” shall mean any and all uses. 

1.19 “Merck Product” shall mean any pharmaceutical or biological product or therapy, in any form, formulation
or delivery mode and including any permitted modifications thereof, which contains or comprises a Collaboration Candidate or a CAR-NK Cell or CAR structure generated under this Agreement that is directed to
the same Collaboration Target as the Collaboration Candidate, (i) for sale by prescription, over the counter or any other method; or (ii) for administration to human patients in a clinical trial; and in the case of either (i) or (ii),
for any and all uses in the Merck Field, including any combination product. 

  
 4. 

 1.20 “Merck Product License” shall have the meaning set
forth in Section 2.2(a). 
 1.21 “Merck Product Revenues” shall have the meaning set forth in
Section 2.3(a). 
 1.22 “Merck Product Term” shall mean the term of the Collaboration Agreement. 

1.23 “Merck Territory” shall mean all the countries in the world. 

1.24 “Project” shall mean a set of specific research or development activities with respect to a Merck Product
to be performed, or other services to be provided, by GCLC under one or more Work Orders under this Agreement. 
 1.25
“Protocol” shall mean a written protocol, proposed by Artiva and approved in writing by GCLC, detailing the instructions for conducting a particular Project (or portion thereof). Each Protocol shall be attached to the applicable Work
Order and incorporated therein. A Protocol may only be amended upon mutual agreement of the parties, which such amendment shall be attached to the original Protocol and incorporated therein. 

1.26 “Regulatory Authority” shall mean any U.S. or foreign regulatory or governmental authority, such as the
U.S. Food and Drug Administration, the European Medicines Agency, or any successor agency thereto. 
 1.27 “Research
and CMC Plan” shall mean the research, preclinical development and CMC plan agreed to for each Merck Product under the Collaboration Agreement, and attached as an exhibit to this Agreement. 

1.28 “Results” shall have the meaning set forth in Section 3.5. 

1.29 “Rules” shall have the meaning set forth in Section 11.5. 

1.30 “Services” shall mean the particular tasks to be performed by GCLC for a given Project pursuant to this
Agreement, as more fully set forth in the applicable Work Order. 
 1.31 “U.S.C.” shall mean the United
States Code, as amended. 
 1.32 “Work Order” shall mean that document for a given Project under which GCLC
agrees to perform Services for such Project pursuant to this Agreement. 

  
 5. 

 1.33 “Work Product” shall mean any and all results
(including Results) and products (interim and/or final) of the Services performed by GCLC, whether tangible or intangible, including, without limitation, each and every invention, discovery, design, drawing, protocol, process, technique, formula,
trade secret, device, compound, substance, material, pharmaceutical, method, software program (including, without limitation, object code, source code, flow charts, algorithms and related documentation), listing, routine, manual and specification,
whether or not patentable or copyrightable, that are made, developed, perfected, designed, conceived or first reduced to practice by GCLC, either solely or jointly with others, in the course and as a result of performing the Services; but excluding
GCLC Background Technology. 
  

	2.	 LICENSE TERMS FOR MERCK PRODUCTS.

 2.1 Overview. Notwithstanding anything to the contrary contained in this Agreement,
all Arising Merck Product IP shall be governed exclusively by the terms of this Agreement. The Master Agreement sets forth a license by GCLC to Artiva with respect to Licensed Products under the GCLC Core Technology in the Territory and the economic
and other terms of such license. Artiva and GCLC agree that, during the Merck Product Term with respect to the GCLC Background IP and Arising GCLC Core IP only, the terms of this Agreement shall modify the licenses and rights granted by GCLC
to Artiva solely with respect to the Merck Products under the Master Agreement and the economic and other terms of such licenses and rights as expressly set forth herein. Immediately at the end of the Merck Product Term, all rights, licenses,
obligations, terms and conditions applicable to any Licensed Product that was a Merck Product under this Agreement shall automatically, without further action by any party, again be subject to all rights, licenses, obligations, terms and conditions
applicable to such Licensed Product under the Master Agreement and the terms of this Agreement shall no longer apply to such Licensed Product; provided that, for the avoidance of doubt, any Merck Product for which the Royalty Term (as such term is
defined in the Collaboration Agreement) in a given country has expired pursuant to the terms of the Collaboration Agreement shall not be subject to any further royalties in respect of sales of such Licensed Product in such country, including Core IP
Royalties, and the Merck Product License in such country shall be fully paid-up, perpetual and royalty-free and shall survive any expiration or termination of this Agreement or the Master Agreement. 

2.2 License Grant. 

(a) Subject to the terms and conditions of this Agreement, GCLC hereby grants to Artiva, the following licenses during the Merck Product
Term (the “Merck Product License”): 
 (i) an exclusive license (even as to GCLC)
in the Merck Field and the Merck Territory under GCLC’s interest in Arising Merck Product IP, with the right to grant and authorize sublicenses, including without limitation: (x) to research, develop, to make, have made, use, import, offer
to sell and sell Merck Products and (y) to research, develop, make, have made, use, import, offer to sell and sell any invention claimed in or covered by Arising Merck Product IP; 

  
 6. 

 (ii) an exclusive license (even as to GCLC) in the Merck Territory and in the Merck Field
under (i) GCLC Background IP and (ii) GCLC’s interest in Arising GCLC Core IP, with the right to grant and authorize sublicenses, to research, develop, make, have made, use, import, offer to sell and sell Merck Products; and 

(iii) Notwithstanding the scope of the licenses granted to Artiva under Sections 2.2(a)(i) and 2.2(a)(ii), GCLC shall retain the rights under
GCLC Background IP and Arising GCLC Core IP in the GCLC Territory for all other purposes except for the license granted in 2.2(a)(ii). 

(b) As a Licensed Product, all terms and conditions of the Master Agreement shall apply to the Merck Products, except that, solely as
applied to the Merck Products and no other Licensed Products: 
 (i) references to the defined term “Territory” in the Master
Agreement shall be deemed to refer to the Merck Territory, and references to the defined term “Field” in the Master Agreement shall be deemed to refer to the Merck Field; 

(ii) references to the defined term “Core License” in the Master Agreement shall be deemed to refer to the Merck Product License;

 (iii) the Core IP Royalties shall not be payable with respect to the Merck Products; and 

(iv) for the avoidance of doubt, the Merck Products are not a Selected Product nor an Exercised Selected Product under the Master Agreement.

 (c) For clarity, any of the modifications in clauses (b)(i)-(iv) do not apply to any other Licensed Product that is not a Merck
Product. 
 2.3 Merck Product Revenues 

(a) During the Merck Product Term with respect to the Merck Products only, in lieu of the Core IP Royalties, Artiva shall pay GCLC a
percentage of Merck Product Revenues received by Artiva from Merck as follows (such payments, “Merck Product Payments”): (i) [***] percent ([***]%) of Merck Product Revenues that are milestone payments or
royalties solely relating to Merck Products in [***], and (ii) [***] percent ([***]%) of all other Merck Product Revenues. “Merck Product Revenues” means royalties, upfront payments, license fees,
regulatory or sales milestone payments and any other payments received by Artiva from Merck, including, without limitation to, the potential Merck Product Revenues described in Exhibit D, [***]. 

(b) Within [***] ([***]) days following Artiva’s receipt of Merck Product Revenues, Artiva shall provide GCLC with a report
containing the following information for the applicable payment: (i) the amount of Merck Product Revenues received, and (ii) a calculation of the Merck Product Payment due to GCLC. Concurrent with the delivery of the applicable report,
Artiva shall pay the payment due to GCLC pursuant to Section 2.3(a). 

  
 7. 

 2.4 Exclusive Efforts. During [***], each of GCLC and Artiva shall work exclusively
with the other party and with Merck with respect to [***], and shall not (and shall cause its Affiliates not to), directly or indirectly and alone or with Affiliates or Third Parties, research, develop, make, have made, use, sell, have sold or
import any [***], except pursuant to, and subject to the terms and conditions of, this Agreement. 
  

	3.	 RESEARCH SERVICES. 

3.1 Scope of Agreement. Under this Agreement, GCLC will perform certain activities and provide specific Services
relating to Merck Products directed against up to three Collaboration Targets, as set forth in the applicable Research and CMC Plan for each Merck Product. The Research and CMC Plan for the initial Merck Product is attached as Exhibit B-1. The parties agree that this Agreement shall be amended to add Exhibits B-2 and B-3 to reflect such Research and CMC
Plans as may be agreed to for two additional Merck Products under the Collaboration Agreement. In partial consideration for its receipt of the Merck Product Payments under Section 2.3, GCLC acknowledges its responsibility to perform the
activities assigned to GCLC under the Research and CMC Plans, and agrees that its failure to perform such activities under a Research and CMC Plan or associated Projects and Work Orders under this Agreement, would constitute a material breach of
this Agreement. Provided that, GCLC shall not be held liable for any delays or failure to perform if such delay or failure is caused by Artiva, its Affiliates and/or any third party appointed by Artiva participating in any part of the Research and
CMC Plan, associated Projects or Work Orders under this Agreement. 
 3.2 Performance of Services. As a master
form of contract, this Agreement allows the parties to contract, with respect to each Research and CMC Plan, for multiple Projects through the issuance of multiple Work Orders, without having to re-negotiate
the basic terms and conditions contained herein. Each Work Order shall become effective only upon signature by both parties. Each Work Order shall set forth, upon terms mutually agreeable to the parties, the specific Services to be performed by
GCLC, the timeline and schedule for the performance of such Services, and the compensation to be paid by Artiva to GCLC for the provision of such Services, as well as any other relevant terms and conditions. Any Protocol applicable to a particular
Project shall be attached to, and is thereby incorporated by reference in, the corresponding Work Order. If a Project includes the development of specific Work Product, the specifications of such Work Product shall be set forth in the relevant Work
Order. If a Project involves any study the results of which are expected or intended to be submitted to any Regulatory Authority, the relevant Work Order shall specify: (a) any particular laws, rules, regulations, guidelines and standards
(e.g., current good laboratory practices) of any Regulatory Authority or other body that GCLC agrees to comply with in performing such Project; and (b) any obligations of Artiva or Merck, as sponsor of an IND application and otherwise,
pursuant to 21 C.F.R. § 312.50 or other applicable laws, rules and regulations in connection with such Project that GCLC agrees to assume from Artiva. There shall be no minimum or maximum 

  
 8. 

 
number of Work Orders to be entered into under this Agreement or in connection with a specific Project. Each Work Order shall be subject to acceptance by GCLC and all of the terms and conditions
of this Agreement, in addition to the specific details set forth in the Work Order. To the extent any terms or provisions of a Work Order conflict with the terms and provisions of this Agreement, the terms and provisions of this Agreement shall
control, except to the extent such Work Order specifically states the parties’ intent that such Work Order control with respect to a particular matter. Any changes to a Work Order shall be in writing, executed by each party, attached to the
original Work Order and incorporated therein. 
 3.3 Compliance with Work Orders and Law. GCLC agrees to perform the
Services set forth in each Work Order in a competent and professional manner and in strict accordance with the terms and conditions contained in this Agreement, the applicable Protocol(s) and such Work Order. Both parties hereto shall perform the
obligations set forth herein in conformance with all applicable laws, rules and regulations, including, if applicable, current good laboratory practices. If government regulatory requirements applicable to any Work Order are changed, then Artiva
shall notify GCLC of all such changed requirements, and GCLC shall comply with the new requirements. If compliance with new regulatory requirements necessitates a change in a Work Order, Artiva shall amend the Work Order and obtain GCLC’s
written consent to such change prior to implementation. During the Merck Product Term, all employees and subcontractors of a party or its Affiliates performing research, development, commercialization or other activities contemplated hereunder on
behalf of such party or its Affiliates shall be obligated to undertake in writing obligations of ownership of Information, discoveries and inventions which are the same as those undertaken by the parties pursuant to Section 6. 

3.4 Subcontractors. Save for subcontracting to its Affiliates, GCLC may not subcontract any of the Services under a Work
Order without Artiva’s prior written consent, except to the extent expressly permitted by such Work Order. GCLC shall at all times be responsible for the compliance of its permitted subcontractors with the terms and conditions of this
Agreement. 
 3.5 Results. GCLC shall record, or cause to be recorded, all data generated by GCLC or its
employees, agents, consultants, Artiva-approved subcontractors or other representatives in the course of conducting a Project, whether in written, graphic or electronic form or contained in any computer database or in any computer readable form
(collectively, the “Results”), in a timely, accurate and complete manner. GCLC and any approved subcontractors shall utilize such electronic notebook system as may be provided by Artiva. To the
extent not contained in the electronic notebooks, copies of all Results collected shall be scanned to electronic files and delivered to Artiva by GCLC in a timely manner throughout the performance of the Project and in accordance with the applicable
Work Order and in compliance with any applicable Protocols provided by Artiva. For purposes of clarification, this section shall apply to each Project individually. 

  
 9. 

 3.6 Materials. Artiva shall either reimburse for, or provide
at no cost to GCLC, the applicable materials necessary for performance of a Project as specified in the applicable Work Order, which may include, without limitation, Merck Products (collectively,
“Materials”), in amounts sufficient for the conduct of the Project. All such Materials shall remain the sole property of Artiva. GCLC shall use the Materials solely in furtherance of the Services
in accordance with this Agreement and Work Orders, shall not deliver the Materials to, or use the Materials for the benefit of, any third party without the prior written consent of Artiva, and shall use the Materials in compliance with all
applicable laws, rules and regulations. The Materials supplied under this Agreement must be used with prudence and appropriate caution in any experimental work because not all of their characteristics may be known. Except as expressly set forth
herein, THE MATERIALS ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE OR ANY WARRANTY THAT
THE USE OF THE MATERIALS WILL NOT INFRINGE OR VIOLATE ANY PATENT OR OTHER PROPRIETARY RIGHTS OF ANY THIRD PARTY. 
  

	4.	 PAYMENT AND BUDGET. 

4.1 Estimated Budget; Accounting. Except to the extent a Work Order provides for GCLC to perform Services on a fixed-fee basis, each Work Order shall contain an estimated budget for the performance of the Work Order, as well as additional terms and conditions relating to such estimated budget, and GCLC shall provide to
Artiva, at intervals stated in each Work Order, an accounting of costs incurred and accrued to date for Services under the applicable Project. 

4.2 Invoices; Payment. Unless otherwise agreed by the parties in writing, GCLC shall provide to Artiva for each Work
Order one or more separate invoices (to be delivered at intervals specified in such Work Order), such invoice summarizing the Services performed during that period of time under that Work Order and the costs therefor. Artiva shall pay each invoice
within [***] days of receipt thereof, in accordance with the applicable schedule of payments specified in such Work Order. Artiva shall not be obligated to pay any amounts in excess of the budget or other payments specified in a Work Order that
have not been approved in writing by Artiva in advance. 

  
 10. 

 4.3 Income Tax Withholding. Except as otherwise provided
herein, GCLC will pay any and all taxes levied on GCLC on account of any payments made to it under this Agreement. GCLC shall be responsible for any transfer, documentary, sales use, stamp, registration, value added or other similar tax
(“Transfer Tax”) that is imposed with respect to the payments or the related transfer of rights or other property pursuant to the terms of this Agreement. If any taxes are required to be withheld by Artiva from any payment made to
GCLC under this Agreement (“Withholding Taxes”), Artiva shall (a) deduct such Withholding Taxes from the payment made to GCLC, (b) timely pay the Withholding Taxes to the proper taxing authority, and (c) send proof of
payment to GCLC and certify its receipt by the taxing authority within [***] ([***]) days following such payment and all such Withholding Taxes shall be treated for all purposes under this Agreement as having been paid to GCLC. To extent Artiva
fails to withhold Withholding Taxes from, or apply and pay Transfer Taxes with respect to, any payment to GCLC and it is determined that Artiva should have withheld Withholding Taxes or applied and paid Transfer Taxes, GCLC agrees to indemnify
and/or reimburse Artiva for any Withholding Taxes or Transfer Taxes. 
 4.4 Tax Documentation. GCLC has provided a
properly completed and duly executed IRS Form W-8BEN-E to Artiva. Prior to the receipt of any payment under this Agreement, GCLC (and any other recipient of payments by
Artiva under this Agreement) shall, to the extent it is legally permitted to, provide to Artiva, at the time or times reasonably requested by Artiva or as required by applicable Law, such properly completed and duly executed IRS Forms W-8 or W-9 claiming the benefits of an applicable tax treaty in the case of IRS Form W-8BEN-E.
Such tax forms will, if applicable and legally permissible, claim the benefits of an applicable tax treaty to permit payments made under this Agreement to be made without, or at a reduced rate of, withholding for taxes. 

4.5 Records Audit. Except to the extent a Work Order provides for GCLC to perform Services on a fixed-fee basis, Artiva and/or an independent accounting firm appointed by Artiva, at Artiva’s sole expense, shall have the right to audit GCLC’s financial records relating exclusively to expenses incurred
by GCLC for a Project during the time such Project is ongoing under this Agreement and for [***] ([***]) years thereafter; provided, that any such audit(s) shall be conducted upon reasonable advance notice to GCLC and during GCLC’s
normal business hours. 
  

	5.	 REGULATORY. 

5.1 Regulatory Inspections. If any Regulatory Authority conducts, or gives notice to GCLC of its intent to
conduct, an inspection at GCLC’s facilities where any Project or Services are being performed or to take any other regulatory action with respect to any Project or Services, then except to the extent prohibited by law or otherwise
impracticable, GCLC shall use best efforts to notify Artiva in writing prior to complying with such demand or request, and Artiva shall have the right to be present at any such inspections and shall have the opportunity to provide, review, and
comment on any responses that may be required. GCLC shall promptly provide Artiva with a copy of the results from any regulatory inspection. Artiva shall bear any costs, fees, penalties and other imposts levied by any Regulatory Authority, if any,
as a result of [***], in each case other than [***]. 

  
 11. 

 5.2 Site Visits and Audits. Artiva or any of its respective
representatives may visit and/or meet with GCLC at reasonable times and with reasonable frequency during normal business hours to observe the progress of the Project and review relevant records. GCLC shall assist Artiva in scheduling such visits.
From time to time as requested by Merck (but not more than once per year except in the case of emergency or for-cause in which case such once per year limit shall not apply), Artiva and Merck shall have
the right to audit GCLC’s facilities located at 107, Ihyeon-ro, 30 beon-gil, Giheung-gu,
Yongin-si, Gyeonggi-do 16924, Republic of Korea. The first audit of the facilities of GCLC will occur within [***] ([***]) months after the Effective Date (or such
longer period of time as agreed to by Artiva, such agreement not to be unreasonably withheld, conditioned, or delayed). Each audit performed by Artiva and/or Merck shall be limited to [***] ([***]) auditors for a maximum of [***] ([***]) days in
duration, and shall be scheduled at least [***] ([***]) weeks in advance. Artiva (including its representatives) shall have the right to be present at such audits. 

5.3 As part of the audit of any facilities of GCLC, the audit may include an audit of GCLC’s supplier qualification
procedures, risk assessments, audit reports or supplier questionnaires and associated corrective actions and Environmental Health and Safety assessments. 

5.4 GCLC shall comply with the applicable terms and conditions of this Section 5.2 and any applicable supply
agreement or quality agreement (including any applicable terms and conditions with respect to audit and inspection rights and compliance, operation and maintenance of the facilities and equipment), and shall make commercially reasonable efforts to
include all such terms and conditions in its agreement with its subcontractors who are manufacturing Merck Products or manufacturing materials used to manufacture Merck Products. In the event that GCLC is unable to include such terms in its
subcontractor agreements, GCLC shall notify Artiva of same and the parties shall discuss and mutually agree upon an appropriate course of action. 

5.5 Artiva shall provide to GCLC an audit report from any audits performed under this Section 5.2 based on
regulations, phase appropriate regulatory guidance documentation and reasonable experience and trends related to such observations. Within [***] ([***]) days after receipt of such audit report from Artiva, GCLC shall deliver to Artiva a corrective
remediation plan addressing any deficiencies observed in the audit. GCLC shall work with Artiva and any permitted subcontractors to conduct the activities set forth in the remediation plan to address and correct the audit observations identified in
good faith. 
 5.6 Record-Keeping. GCLC shall maintain, separated on a Project by Project basis, records of
documents, information, data and materials used or generated in performance of the Services (including, without limitation, Work Product, Arising Intellectual Property, and any related laboratory notebooks, data files and reports) in a professional
manner so as to permit Artiva and Merck to 

  
 12. 

 
review such records pertinent to the Project in accordance with this Section 5.3 without disclosing to Artiva or Merck any third party confidential or proprietary information or other
information of GCLC unrelated to the Project. Artiva shall own all data sets generated by GCLC under this Agreement, which shall be certified by appropriate GCLC personnel that supervised the creation of such data set, and any formal reports shall
require approval by appropriate GCLC and Artiva senior-level personnel. GCLC shall retain the rights to use all data related to GCLC Background IP or Arising GCLC Core IP for purposes other than the research, development, or commercialization of the
Merck Products. The parties shall establish a central repository (e.g., an online data room) for the sharing of such records. Designated representatives of Artiva or Merck shall, upon reasonable notice by Artiva to GCLC, have access to and
shall be permitted to review all such records during the term of this Agreement and during the applicable retention period specified in Section 5.4. Upon Artiva’s reasonable request, GCLC shall provide to Artiva a copy of any or all such
records. 
 5.7 Retention of Records. GCLC shall retain in its possession copies of any and all data, documents
or information related to the performance of this Agreement, in addition to as required for regulatory, legal or insurance purposes. Except as expressly set forth in any Work Order(s), GCLC shall maintain records relating to the Services under any
Work Order until the later of: (i) the [***] ([***]) anniversary of completion of such Services; and (ii) expiration of the minimum retention period required by applicable laws, rules and regulations. 

 

	6.	 OWNERSHIP OF INTELLECTUAL PROPERTY.

 6.1 Rights under Master Agreement. Except as provided in Section 2, each party
understands and agrees that this Agreement does not modify the ownership or rights of GCLC, nor the rights granted to Artiva, with respect to the GCLC Core Technology as established pursuant to the Master Agreement. 

6.2 Ownership of Arising Intellectual Property. 

Inventorship of Arising Intellectual Property will be determined in accordance with principles of U.S. patent law. GCLC shall
own all Arising Intellectual Property invented solely by GCLC employees, and any Arising Intellectual Property invented jointly with employees of Artiva and/or Merck shall be jointly owned between GCLC and Artiva and/or Merck. 

6.3 Patent Prosecution and Enforcement. GCLC shall promptly disclose to Artiva in writing the conception,
creation or discovery of any Arising Intellectual Property to which one or more patent applications may be filed. Artiva may grant to Merck under the Collaboration Agreement any right that Artiva has under the Master Agreement or this Agreement,
including any right to prepare, file, prosecute (including conduct any interferences, reissue proceedings and reexaminations), maintain, enforce, and bring and control any infringement action with respect to any GCLC Core Patents, Joint Patents, or
Patents within the 

  
 13. 

 
Arising Intellectual Property in accordance with the Master Agreement and this Agreement. Filing of patent applications shall indicate GCLC as the owner of the applicable patents, where
appropriate, in accordance with the provision of this Section 6, and Artiva shall promptly disclose to GCLC copies of any and all such patents applications as filed, together with notice of their respective filing dates and serial numbers. 

 

	 	(a)	 Arising GCLC Core IP. Filing, prosecution, and enforcement of patent applications covering Arising GCLC
Core IP shall be governed by Sections 8.2-8.4 of the Master Agreement. Any such patent applications shall not include any reference to or disclosures regarding the Antibody Binders, Collaboration Candidates,
Merck Products, or Arising Merck Product IP. GCLC shall not include any Results in any patent applications within the Arising GCLC Core IP without Artiva’s prior written consent; 

 

	 	(b)	 Arising Merck Product IP. Artiva and/or Merck shall have the right to file, prosecute (including during
administrative proceedings such as interference, derivation, opposition, reexamination, reissue, supplemental examination, Inter Partes Review and Post-Grant Review proceedings), enforce, and defend Arising Merck Product IP, regardless of
ownership or inventorship. GCLC agrees to cooperate fully with Artiva and/or Merck and provide any information and assistance that either may reasonably request for the filing, prosecution and maintenance of the Arising Merck Product IP, including
the execution of any applicable powers of attorney or similar documents. In the event that Artiva and/or Merck is unable to initiate or prosecute an action to enforce or defend Arising Merck Product IP without GCLC, GCLC will join such action
voluntarily and will execute and cause its Affiliates to execute all documents necessary for Artiva and/or Merck to initiate litigation to prosecute and maintain such action. 

 

	7.	 CONFIDENTIALITY. 

7.1 Confidential Information. For purpose of this Agreement, “Confidential
Information” shall mean any and all information disclosed or made available by or on behalf of a party (the “Disclosing Party”) to the other party (the “Receiving Party”), whether in
oral, written, graphic, electronic or other form. However, notwithstanding the foregoing, all Arising GCLC Core IP that is solely owned by GCLC shall be deemed Confidential Information of GCLC, and all Arising GCLC Core IP that is jointly owned
shall be deemed the Confidential Information of both Parties. All Arising Merck Product IP shall be deemed Confidential Information of Artiva, in each case hereunder and under the Master Agreement. 

  
 14. 

 7.2 Exceptions. Confidential Information of a Disclosing Party shall
not include any information that the Receiving Party can demonstrate by competent evidence: (a) is or becomes publicly known other than as a result of any breach of this Agreement by the Receiving Party; (b) is disclosed to the Receiving
Party on a non-confidential basis by a third party who rightfully possesses the information; (c) was known to the Receiving Party prior to its first receipt from the Disclosing Party (provided that the
exception set forth in this clause (c) shall not apply to Results, other Work Product or Arising Intellectual Property); or (d) was independently developed by the Receiving Party outside the scope of this Agreement and without use of or
reference to the Confidential Information of the Disclosing Party. 
 7.3 Confidentiality Obligation. During
the term of this Agreement and thereafter, the Receiving Party shall maintain all Confidential Information of the Disclosing Party as confidential and shall not disclose any such Confidential Information or use any such Confidential Information for
any purpose, except (a) as expressly authorized by this Agreement, (b) as permitted by Section 7.4, or (c) to its employees, agents, consultants, Artiva-approved subcontractors and other representatives who require access to such
information to accomplish the purposes of this Agreement so long as such persons are under obligations regarding the confidentiality of the Confidential Information and the ownership of Work Product and Arising Intellectual Property (including,
without limitation, Arising GCLC Core IP and Arising Merck Product IP) that are consistent with, and no less protective to GCLC than, the terms of this Agreement. The Receiving Party may use the Confidential Information of the Disclosing Party only
to the extent required to accomplish the purposes of this Agreement. The Receiving Party shall use at least the same standard of care as it uses to protect its own confidential information to ensure that its employees, agents, consultants,
sublicensees (including Merck and any of its Affiliates, employees, agents, consultants, sublicensees and subcontractors) GCLC-approved subcontractors and other representatives do not disclose or make any unauthorized use of the Confidential
Information. The Receiving Party shall promptly notify the Disclosing Party upon discovery of any unauthorized use or disclosure of the Confidential Information. 

7.4 Authorized Disclosure. Notwithstanding the provisions of Section 7.3, the Receiving Party may disclose
Confidential Information of the Disclosing Party, without violating its obligations under this Agreement, to the extent the disclosure is required by applicable law or by a valid order of a court or other governmental body having jurisdiction,
provided that the Receiving Party gives reasonable prior written notice to the Disclosing Party of such required disclosure and, at the Disclosing Party’s request and expense, cooperates with the Disclosing Party’s efforts to contest such
requirement, to obtain a protective order requiring that the Confidential Information so disclosed be used only for the purposes for which the order was issued or the law or regulation required, and/or to obtain other confidential treatment of the
Confidential Information so disclosed. 

  
 15. 

 7.5 GCLC Press Release. A public announcement may be made by GCLC on
or following the date hereof substantially in the form attached hereto as Exhibit F. 
 7.6 Third Party
Confidential Information. The Disclosing Party shall not disclose to the Receiving Party any confidential or proprietary information that belongs to any third party. 
  

	8.	 REPRESENTATIONS AND WARRANTIES. 

8.1 Mutual Representations and Warranties. Each party represents and warrants that (a) it has full power and
authority to enter into this Agreement, (b) this Agreement has been duly authorized, (c) this Agreement is binding upon it, (d) the terms of this Agreement are not inconsistent with its other contractual arrangements (including the
Collaboration Agreement, as represented and warranted by Artiva), and (e) it is not constrained by any existing agreement in providing complete disclosures to the other party concerning obligations to be performed under this Agreement. 

8.2 GCLC Representations and Warranties. GCLC represents and warrants that: (a) GCLC will render the Services in
accordance with high professional standards customary to its industry and in compliance with the terms of this Agreement, the terms of the Work Orders, and all applicable laws, rules and regulations; and (b) the personnel assigned to perform
Services rendered under this Agreement shall be qualified and professionally capable of performing the Services. GCLC further represents and warrants that, as of the Effective Date, there are no pending warnings (i.e., warnings to which GCLC
has not responded) issued to GCLC by any Regulatory Authority relating to services it has provided to third parties relating to any clinical trial. 

8.3 Artiva Representations and Warranties. Artiva represents and warrants that: (a) as of the effective
date, except for a Supply Agreement and/or Quality Agreement (to be negotiated), the Collaboration Agreement attached hereto in Exhibit C hereto is the entire agreement between Artiva and Merck with respect to the subject matter hereof, and
there is no separate agreement, consideration or undertaking between Artiva and/or Merck with respect to Merck Products; (b) the Collaboration Agreement as executed will be consistent with the licenses and rights granted to Artiva hereunder;
and (c) Artiva will render its activities under this Agreement, if any, in accordance with high professional standards customary to its industry and in compliance with the terms of this Agreement, the terms of the Work Orders, and all
applicable laws, rules and regulations. 

  
 16. 

 8.4 No Debarment. The mutual covenant in Section 11.3(a) of the
Master Agreement is incorporated by reference herein and deemed to also apply with respect to the performance of the Services by GCLC and the use of the Work Product and Arising Intellectual Property by Artiva, in each case with respect to the Merck
Products. 
 8.5 Anti-Bribery. Each party represents, warrants and covenants that it and its officers, employees,
directors, consultants, contracts and agents, in connection with the performance of its respective obligations under this Agreement, shall not cause the other party to be in violation of any applicable anti-bribery legislations anywhere in the
world. 
 8.6 Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES
ANY REPRESENTATION OR WARRANTY TO THE OTHER PARTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE.

 8.7 Limitation of Liability. EXCEPT FOR BREACH OF ARTICLE 7, IN NO EVENT SHALL EITHER PARTY BE LIABLE
TO THE OTHER FOR ANY LOST PROFITS, LOST SAVINGS, OR ANY OTHER INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT;
provided, however, that this Section 8.7 shall not be construed to limit either party’s indemnification obligations under Article 10. 
  

	9.	 TERM AND TERMINATION. 

9.1 Term. The term of this Agreement shall commence on the Effective Date and, unless earlier terminated in
accordance with this Article 9, shall expire upon the termination of the Collaboration Agreement. 
 9.2
Termination for Material Breach. Each party shall have the right to terminate this Agreement in its entirety or any Work Order immediately upon written notice to the other party if the other party materially breaches its obligations under
this Agreement or any Work Order and, after receiving written notice identifying such material breach in reasonable detail, fails to cure such material breach within 60 days from the date of such notice (or within 30 days from the date of such
notice in the event such material breach is solely based on the breaching party’s failure to pay any amounts due hereunder); provided, however, in the case of a breach or violation that cannot be cured within such 60 day period, the non-breaching party may terminate this Agreement or the applicable Work Order following such 60 day period only if the breaching party shall have failed to commence substantial remedial actions within such 60 day
period and to use reasonable efforts to pursue the same. Any right to terminate under this Section 9.2 shall be stayed and the cure period tolled in the event that, during any cure period, the breaching party shall have initiated dispute
resolution 

  
 17. 

 
in accordance with Section 11.5 with respect to the alleged breach, which stay and tolling shall last so long as the breaching party diligently and in good faith cooperates in the prompt
resolution of such dispute resolution proceedings. Either party may terminate any Work Order immediately upon written notice to the other party if the other party is in breach of Section 8.4. Each party shall be entitled to offset, against
amounts payable to the other party under this Agreement, any amounts of damages determined, in a final decision by the applicable court action or other legal proceeding, to be owed to such party by the other party based on the other party’s
material breach of this Agreement. If such notice of breach is for breach of a Work Order, such notice shall note the specific Work Order under which such breach is claimed. 

9.3 Termination at Will. Artiva may terminate any Work Order without cause upon 90 days’ prior written
notice to GCLC. 
 9.4 Consequences of Termination. In the event of early termination of any individual Work
Order for a Project, or in the event of termination of all Work Orders for all Projects by Artiva for reasons stated above, Artiva shall pay to GCLC all sums owing to GCLC for Services completed up to the effective termination date of such Work
Order(s) and all non-cancelable obligations reasonably incurred before the effective date of termination pursuant to such Work Order(s) within 30 days after the effective date of termination. Subject to
the preceding sentence, GCLC shall refund to Artiva any prepaid amounts not earned by GCLC prior to the date of such termination, in which event, the parties shall mutually discuss in good faith any compensation and costs payable to GCLC for its
preparatory work to conduct any Work Order, including non-cancelable costs and compensations for its subcontractors. In the event that this Agreement is terminated under Section 9.2 due to Artiva’s
material breach of this Agreement (other than a material breach by Artiva arising due to Merck’s material breach of its obligations under the Collaboration Agreement), GCLC agrees to allow Merck to step in and cure the breach (to the extent the
breach is curable) and assume Artiva’s rights and obligations under this Agreement within a reasonable period to be agreed upon between GCLC and Merck. In this case, the licenses and exclusivity provided for in Sections 2.2 and 2.4 shall
continue through the Merck Product Term subject to Merck’s cure of such material breach (to the extent the breach is curable) and assumption of Artiva’s payment obligations owed to GCLC under this Agreement. In the event that this
Agreement is terminated by Artiva under Section 9.2 due to GCLC’s breach, the licenses and exclusivity provided for in Sections 2.2 and 2.4 shall continue through the Merck Product Term, and with respect to any Merck Product at the time of
termination under Section 9.2, if the criteria have been met under the Collaboration Agreement for Artiva to receive any applicable milestone payments attributable to (i) [***] and (ii) [***], then Artiva shall be obligated to continue to pay
Merck Product Payments to GCLC with respect to such Merck Product during the Merck Product Term. For clarity, in the event of termination, the requirements of Section 10.5(c) in the Master Agreement shall not apply. 

  
 18. 

 9.5 Survival. Expiration or termination of this Agreement
shall not relieve the parties of any obligation accruing prior to such expiration or termination. Sections 2.1 (last sentence only), 2.2, 2.4, 3.5, 3.6, 4.3, 5.1, 5.3, 5.4, 8.6, 8.7,and 9.4 and 9.5, and Articles 6, 7 and 10 shall survive
expiration or termination of this Agreement. 
  

	10.	 INDEMNIFICATION. 

10.1 Artiva Indemnification. Artiva hereby agrees to save, defend, indemnify and hold harmless GCLC and its
officers, directors, employees, consultants and agents (“GCLC Indemnitees”) from and against any and all losses, damages, liabilities, expenses and costs, including reasonable legal expense and
attorneys’ fees (“Losses”), to which any such GCLC Indemnitee may become subject as a result of any suit, claim, demand, action or other proceeding by any third party (in each case, a
“Third Party Claim”), to the extent such Losses arise out of: (a) the material breach by Artiva of any representation, warranty, covenant or agreement made by it under this Agreement;
(b) the gross negligence or willful misconduct of any Artiva Indemnitee (as defined below); (c) the development, manufacture, use, handling, storage, sale or other disposition of any Merck Product or the exploitation of Work Product by or
on behalf of Artiva or (d) the use of Materials by GCLC in connection with the Services in accordance with the Protocol and Artiva’s instructions, or with respect to any deficiency or defect in Materials; except, in each case, to the
extent such Losses result from the material breach by GCLC of any representation, warranty, covenant or agreement made by it under this Agreement or the negligence or willful misconduct of any GCLC Indemnitee. 

10.2 GCLC Indemnification. GCLC hereby agrees to save, defend, indemnify and hold harmless Artiva and its
officers, directors, employees, consultants, contractors and agents (“Artiva Indemnitees”) from and against any and all Losses to which any such Artiva Indemnitee may become subject as a result of
any Third Party Claim to the extent such Losses arise out of the material breach by GCLC of any representation, warranty, covenant or agreement made by it under this Agreement or the gross negligence or willful misconduct of any GCLC Indemnitee;
except, in each case, to the extent such Losses result from the material breach by Artiva of any representation, warranty, covenant or agreement made by it under this Agreement or the gross negligence or willful misconduct of any Artiva Indemnitee.

 10.3 Indemnification Procedures. A party claiming indemnification under this Article 10 (the
“Indemnitee”) shall promptly notify the other party (the “Indemnitor”) in writing of any action, claim or other matter in respect of which the
Indemnitee or any of its directors, officers, employees and agents intend to claim such indemnification; provided, however, the failure to provide such notice within a reasonable period of time shall not relieve the Indemnitor of any
of its obligations hereunder except to the extent the Indemnitor is materially prejudiced by such failure. The Indemnitor shall not enter into any settlement that would 

  
 19. 

 
adversely affect the Indemnitee’s rights hereunder or impose any obligations on the Indemnitee in addition to those set forth herein without the Indemnitee’s prior written consent. The
Indemnitee may not settle any Third Party Claim without the prior written consent of the Indemnitor, which shall not be unreasonably withheld, conditioned, or delayed. The Indemnitee and its directors, officers, employees and agents shall cooperate
fully with the Indemnitor and its legal representatives in the investigation and defense of any action, claim or other matter covered by the indemnification obligations of this Section 10.3. The Indemnitee may participate in such defense by
counsel of its own selection and at its own expense. 
 10.4 Conflict of Interest. Notwithstanding anything to
the contrary contained in this Agreement, if a conflict of interest exists between the parties with respect to a Third Party Claim for which indemnification is sought by one or both parties, or if the assumption and conduct of the defense by the
Indemnitor would adversely affect the Indemnitee in any manner or prejudice its ability to conduct a successful defense, then the Indemnitee may be separately represented with respect to such Third Party Claim by legal counsel reasonably acceptable
to the Indemnitor and at the Indemnitor’s expense. 
 10.5 Insurance. GCLC, at its own expense, shall
secure and maintain in full force and effect throughout the term of this Agreement insurance coverage for general, professional and contractual liability (including errors and omissions coverage) in commercially reasonable amounts in light of
GCLC’s obligations hereunder with a reputable A-rated insurance company. In addition, GCLC shall secure and maintain in full force and effect throughout the term of this Agreement workers’
compensation insurance in the amount required by the laws of any country in which any of GCLC’s employees performing Services hereunder are located. GCLC shall provide a certificate of insurance evidencing the required coverage under this
Section 10.5 to Artiva upon request. Notwithstanding, it is understood that such insurance shall not be construed to create a limit of Artiva’s liability with respect to its indemnification obligation under this Article 10 or any other
liability to compensate GCLC under this Agreement. 
  

	11.	 GENERAL PROVISIONS. 

11.1 No Implied Licenses. No right or license is granted under this Agreement by either party to the other, either
expressly or by implication, except those specifically set forth herein. 
 11.2 Independent Contractor Relationship.
GCLC’s relationship with Artiva is that of an independent contractor, and nothing in this Agreement should be construed to create a partnership, joint venture, or employer-employee relationship. Each party is not an agent of the other party and
is not authorized to make any representation, contract, or commitment on behalf of such other party. Each party shall be responsible for all of its tax returns and payments required to be filed with or made to any national, state or local tax
authority with respect to transaction contemplated under this Agreement. 

  
 20. 

 11.3 Use of Names. Neither party shall use the other
party’s name or the names of the other party’s employees in any advertising or sales promotional material or in any publication without prior written permission of the other party, except in the case of required regulatory submissions
(with prior written notice to the other party),    However, in its use of the Arising GCLC Core IP with or towards any third party, Artiva shall clearly indicate that the ownership of any and all intellectual property rights
thereof belongs to GCLC if and as required by the Master Agreement. 
 11.4 Successors and Assigns. Neither
party may assign this Agreement without the prior written consent of the other party; provided, however, that Artiva may assign this Agreement without GCLC’s consent in connection with the transfer or sale of all or substantially all of
the business of Artiva to which this Agreement relates, whether by merger, sale of stock, sale of assets or otherwise. Any attempted assignment of this Agreement not in compliance with this Section 11.4 shall be null and void. No assignment
shall relieve either party of the performance of any accrued obligation that such party may then have under this Agreement. This Agreement shall inure to the benefit of and be binding upon each party signatory hereto, its successors and permitted
assigns. 
 11.5 Dispute Resolution. The parties agree that any controversy or claim arising out of, relating
to or in connection with any provision of this Agreement, if and when a dispute arises under this Agreement, that is not resolved by mutual written agreement of the parties (a “Claim”), shall, upon the written request of
either party to the other party, be resolved by final and binding arbitration administered by the International Centre for Dispute Resolution (“ICDR”) in accordance with the then-effective provisions of its International
Arbitration Rules (the “Rules”), except to the extent any such Rule conflicts with the express provisions of this Section 11.5. Capitalized terms used but not otherwise defined in this Section 11.5 shall have the
meanings provided in the Rules. The parties agree that: 
 (a) The arbitration shall be conducted by three (3) arbitrators (the
“Arbitrators”), none of whom shall be a current or former employee or director, or a current stockholder, of either party or any of their respective Affiliates. Each party shall appoint one Arbitrator within [***] ([***])
days after submission of the Answer to the Notice of Arbitration, and the two-party appointed shall appoint a third Arbitrator, who shall serve as chair of the tribunal, within [***] ([***]) days after the
appointment of the later-appointed Arbitrator. If any of the Arbitrators are not appointed within the time prescribed above, then the ICDR shall appoint the Arbitrator(s) in accordance with its International Arbitration Rules. 

(b) The arbitration and all associated discovery proceedings and communications shall be conducted in English. The seat of the
arbitration shall be Singapore. The Award rendered by the Arbitrators shall be final, binding and non appealable, and judgment may be entered upon it in any court of competent jurisdiction. The Arbitrators shall have no authority to award punitive
or any other type of damages not measured by a party’s compensatory damage. The Arbitrators will, in rendering their decision, apply the substantive law of the laws of the State of New York, U.S., excluding its conflicts of laws principles.
Each party shall bear its own attorney’s fees, costs, and disbursements arising out of the arbitration, and shall pay an equal share of the fees and costs of the Arbitrators. 

  
 21. 

 (c) Notwithstanding the foregoing, nothing contained in this Agreement shall deny
either party the right to seek injunctive or other equitable relief from a court of competent jurisdiction in the context of a bona fide emergency or prospective irreparable harm, and such an action may be filed and maintained notwithstanding any
ongoing discussions between the parties or any ongoing arbitration proceeding. In addition, either party may apply to the Arbitrators for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved.
Except to the extent necessary to confirm an award or as may be required by applicable laws, neither party nor any Arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of both parties. In no
event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable statute of limitations. 

11.6 Governing Law. Resolution of all disputes, controversies or claims arising out of, relating to or in connection
with this Agreement or the performance, enforcement, breach or termination of this Agreement and any remedies relating thereto, shall be governed by and construed under the substantive laws of the State of New York, U.S., without regard to conflicts
of law rules. 
 11.7 Entire Agreement; Amendment. This Agreement, including its Exhibits (if any) and Work Orders,
constitutes the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes all prior understandings and agreements relating to its subject matter, except, for the avoidance of doubt, the Master
Agreement. This Agreement may not be changed, modified, amended or supplemented except by a written instrument signed by both parties. 

11.8 Non-Waiver. No failure or delay of one of the parties to insist upon
strict performance of any of its rights or powers under this Agreement shall operate as a waiver thereof, nor shall any other single or partial exercise of such right or power preclude any other further exercise of any rights or remedies provided by
law. Any waiver by a party of a particular provision or right shall be in writing, shall be as to a particular matter and, if applicable, for a particular period of time and shall be executed by an authorized officer of the waiving party. 

11.9 Severability. If any provision of this Agreement is found by a court of competent jurisdiction to be unenforceable,
then such provision shall be construed, to the extent feasible, so as to render the provision enforceable, and if no feasible interpretation would save such provision, it shall be severed from the remainder of this Agreement. The remainder of this
Agreement shall remain in full force and effect, unless the severed provision is essential and material to the rights or benefits received by either party. In such event, the parties shall negotiate, in good faith, and substitute a valid and
enforceable provision or agreement that most nearly implements the parties’ intent in entering into this Agreement. 

  
 22. 

 11.10 Notices. Any notice required or permitted to be given under
this Agreement must be in writing and delivered either in person, by any method of mail (postage prepaid) requiring return receipt, by overnight courier or by electronic mail, to the party to be notified at its address given below, or at any address
such party has previously designated by prior written notice to the other. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (a) the date of actual receipt; (b) if mailed by international courier, seven
(7) days after the date of postmark; (c) if delivered by international express courier, three (3) days after the date of pick up; or (d) if delivered by electronic mail, upon confirmation of transmission. 

 

			
	If to Artiva:	 	Artiva Biotherapeutics, Inc.
		 	4747 Executive Drive, Suite 1150
		 	San Diego, CA 92121
		 	USA
		 	Attention: Chief Executive Officer
		 	Email: [***]
		
	If to GCLC:	 	Green Cross LabCell Corporation
		 	107, Ihyeon-ro 30 beon-gil, Giheung-gu, Yongin-si,
		 	Gyeonggi-do, 446-850, 16924, Republic of South Korea.
		 	Attention: Chief Executive Officer
		 	Email: [***]

 11.11 Force Majeure. In the event of a delay caused by inclement weather, fire, flood,
epidemic, quarantine, strike or other labor dispute, act of God, act of governmental officials or agencies, or any other cause beyond the control of the parties, the party or parties so affected shall be excused from performance hereunder for the
period of time attributable to such delay, which may extend beyond the time lost due to one or more of the causes mentioned above. In the event of any such delay, the parties may, in their sole discretion, amend this Agreement or any Work Order, as
appropriate, by mutual written agreement. 
 11.12 Interpretation. The headings of clauses contained in this Agreement
preceding the text of the sections, subsections and paragraphs hereof are inserted solely for convenience and ease of reference only and shall not constitute any part of this Agreement, or have any effect on its interpretation or construction. All
references in this Agreement to the singular shall include the plural where applicable. Unless otherwise specified, references in this Agreement to any section shall include all subsections and paragraphs in such Section and references in this
Agreement to any subsection shall include all paragraphs in such subsection. All references to days in this Agreement shall mean calendar days, unless otherwise specified. Ambiguities and uncertainties in this Agreement, if any, shall not be
interpreted against either party, irrespective of which party may 

  
 23. 

 
be deemed to have caused the ambiguity or uncertainty to exist. This Agreement has been prepared in the English language, and the English language shall control its interpretation. In addition,
all notices required or permitted to be given hereunder, and all written, electronic, oral or other communications between the parties regarding this Agreement, shall be in the English language. 

11.13 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of
which together shall constitute one and the same instrument. This Agreement may be executed via electronic signature or via the exchange of signed portable document format (“PDF”) versions of this Agreement. Such electronic
signatures, and signatures on PDF versions of this Agreement, will be considered the legally binding equivalent of wet-ink, original, hand-written signatures. 

[Signature Page Follows] 

  
 24. 

 IN WITNESS WHEREOF,
the parties have by duly authorized persons executed this Agreement as of the Effective Date. 
  

									
	ARTIVA BIOTHERAPEUTICS, INC.	 		 	GREEN CROSS LABCELL CORPORATION
					
	 By:
  

Name:
  

Title:
  

Date:
	 	 /s/ Fred Aslan, MD
  

Fred Aslan, MD
  

Chief Executive Officer
  

January 28, 2021
	 	             

 
 
  

  

	 	 By:
  

Name:
  

Title:
  

Date:
	 	 /s/ Dae-Woo Park

 
 Dae-Woo Park

 
 Chief Executive Officer

 
 January 27, 2021

  

  
 25. 

 Exhibit A 

[***] 

 Exhibit B 

[***] 

  
 27. 

 Exhibit C 

[***] 

  
 28. 

 Exhibit D 

[***] 

  
 29. 

 Exhibit E 

[***] 

  
 30. 

 Exhibit F 

Press Release 
  
 

 
  
 

 

  
 31. 

 

 

  
 32.

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