Document:

EX-4.3

 Exhibit 4.3 

Warrant 
 THIS WARRANT AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF APPLICABLE STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON
TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR
THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN
COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 WARRANT TO PURCHASE COMMON STOCK OF 

ADAPTIVE BIOTECHNOLOGIES CORPORATION 

This certifies that for good and valuable consideration, Imdaptive, Inc. is entitled, subject to the terms and conditions of this Warrant, to
purchase from Adaptive Biotechnologies Corporation, a Washington Corporation (the “Company”), at any time or from time to time prior to the earlier to occur of (i) the effective date of a Change of Control, (ii) the
effective date of an Initial Public Offering, or (iii) 5:00 p.m. Pacific time on July 1, 2023 (the “Expiration Date”), up to 20,000 shares of Warrant Stock (as defined below) at a price per share equal to the Warrant
Price (as defined below), upon surrender of this Warrant at the principal offices of the Company, together with a duly executed subscription form in the form attached hereto as Exhibit 1 and simultaneous payment of the full Warrant Price
for the shares of Warrant Stock so purchased in accordance with the terms hereof. The Warrant Price and the number and character of shares of Warrant Stock purchasable under this Warrant are subject to adjustment as provided herein. 

1.    DEFINITIONS. The following definitions shall apply for purposes of this Warrant: 

1.1    “Holder” means any person who shall at the time be the registered holder of
this Warrant. 
 1.2    “Initial Public Offering” means the initial firm
commitment underwritten public offering of the Company pursuant to an effective registration statement filed under the Securities Act of 1933, as amended (the “1933 Act”), covering the offer and sale of the Company’s
Common Stock for the account of the Company. 
 1.3    “Change of Control” shall
mean each of: (a) any sale or exchange of the capital stock by the stockholders of the Company in one transaction or series of related transactions where more than 50% of the outstanding voting power of the Company is acquired by a person or
entity or group of related persons or entities; (b) a consolidation, merger or other reorganization of 

  
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the Company with or into any other corporation or corporations in which the holders of the Company’s outstanding shares immediately before such consolidation, merger or other reorganization
do not, immediately after such consolidation, merger or reorganization, retain stock representing a majority of the voting power of the surviving corporation of such consolidation, merger or reorganization as a result of their shareholdings in the
Company immediately prior to the consolidation or merger; or (c) a sale of all or substantially all of the assets of the Company and its subsidiaries, on a consolidated basis; provided, however, that a Change in Control shall not
include an equity or debt financing the primary purpose of which is to raise working capital for the Company. 

1.4    “Warrant Price” means $0.45 per share. The Warrant Price is subject to further adjustment
as provided herein. 
 1.5    “Warrant Stock” means 20,000 shares of the Company’s Common
Stock subject to this Warrant. The number and character of shares of Warrant Stock are subject to adjustment as provided herein and the term “Warrant Stock” shall include stock and other securities and property at any
time receivable or issuable upon exercise of this Warrant in accordance with its terms. 
 2.    EXERCISE.

 2.1    Exercisability. Holder may exercise this Warrant in whole or in part, at any time or from time to
time, on any business day before the Expiration Date, by surrendering this Warrant at the principal offices of the Company, with the subscription form attached hereto duly executed by the Holder, and payment of an amount equal to the product
obtained by multiplying (i) the number of shares of Warrant Stock to be purchased by the Holder by (ii) the Warrant Price or adjusted Warrant Price therefor, if applicable, as determined in accordance with the terms hereof. 

2.2    Form of Payment. Payment may be made by (i) a check payable to the Company’s order,
(ii) wire transfer of funds to the Company, (iii) cancellation of indebtedness of the Company to the Holder, (iv) net exercise as provided for in Section 2.6, or (v) any combination of the foregoing. 

2.3    Partial Exercise. Upon a partial exercise of this Warrant the number of shares of Warrant Stock
issuable upon exercise of this Warrant immediately prior to such exercise shall be reduced by (i) the aggregate number of shares of Warrant Stock issued upon such exercise of this Warrant and (ii) if applicable, the number of Warrants
deemed surrendered in connection with a net exercise as provided for in Section 2.6. 
 2.4    No Fractional
Shares. No fractional shares may be issued upon any exercise of this Warrant, and any fractions shall be rounded down to the nearest whole number of shares. If upon any exercise of this Warrant a fraction of a share results, the Company will
pay the cash value of any such fractional share. 
 2.5    Restrictions on Exercise. This Warrant may not
be exercised if the issuance of the Warrant Stock upon such exercise would constitute a violation of any applicable federal or state securities laws or other laws or regulations. As a condition to the exercise of this

  
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Warrant, the Holder shall execute the subscription form attached hereto as Exhibit 1, confirming and acknowledging that the representations and warranties of the Holder set forth in
Section 6 of this Warrant are true and correct as of the date of exercise. 
 2.6    Net Exercise
Election. The Holder may elect to convert this Warrant, without the payment by the Holder of any additional consideration, by the surrender of this Warrant to the Company, with the net exercise election selected in the subscription form
attached hereto duly executed by the Holder, into the number of shares of Warrant Stock that is obtained under the following formula: 
  

	
	 Y = Y (A – B)

	A

  

					
	    where	 		  	X = the number of shares of Warrant Stock to be issued to the Holder pursuant to this Section 2.6.
			
		 		  	Y = the number of shares of Warrant Stock as to which this Warrant is then being net exercised
			
		 		  	A = the fair market value of one share of Warrant Stock, as determined in good faith by the Company’s Board of Directors, as at the time the net exercise election is made pursuant to this Section 2.6.
			
		 	B =	  	the Warrant Price.

 The Company will promptly respond in writing to an inquiry by the Holder as to the then current fair market value of one share
of Warrant Stock. 
 3.    ISSUANCE OF STOCK. This Warrant shall be deemed to have been exercised
immediately prior to the close of business on the date that a duly completed and executed Form of Subscription in the form attached hereto as Exhibit 1 and payment of the full Warrant Price in accordance with this Warrant have been delivered to the
Company, whereupon the person entitled to receive the shares of Warrant Stock issuable upon such exercise shall be treated for all purposes as the holder of record of such shares as of the close of business on such date. As soon as practicable on or
after such date, but conditioned upon the receipt of this Warrant by the Company, the Company shall issue and deliver to the person or persons entitled to receive the same a certificate or certificates for the number of whole shares of Warrant Stock
issuable upon such exercise. 
 4.    EARLY EXPIRATION. This Warrant shall automatically expire and be of
no further force and effect without any action by the Company or the Holder immediately prior to the effective date of a Change of Control or Initial Public Offering. If the Company proposes at any time to effect a Change of Control or Initial
Public Offering, then at least thirty (30) days prior to such event the Company shall mail to the Holder a notice specifying the date on which the Change of Control or Initial Public Offering is anticipated to become effective. 

5.    ADJUSTMENT PROVISIONS. The number and character of shares of Warrant Stock issuable upon exercise of
this Warrant (or any shares of stock or other securities or property at the time receivable or issuable upon exercise of this Warrant) and the Warrant Price therefor, 

  
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are subject to adjustment upon the occurrence of the following events between the date this Warrant is issued and the date it is exercised: 

5.1    Adjustment for Stock Splits, Stock Dividends, Recapitalizations, etc. The Warrant Price of
this Warrant and the number of shares of Warrant Stock issuable upon exercise of this Warrant (or any shares of stock or other securities at the time issuable upon exercise of this Warrant) shall each be proportionally adjusted to reflect any stock
dividend, stock split, reverse stock split, reclassification, recapitalization or other similar event affecting the number of outstanding shares of Warrant Stock (or such other stock or securities). 

5.2    Adjustment for Other Dividends and Distributions. In case the Company shall make or issue, or shall
fix a record date for the determination of eligible holders entitled to receive, a dividend or other distribution payable respect to the Warrant Stock that is payable in (a) securities of the Company (other than issuances with respect to which
adjustment is made under Section 5.1), or (b) assets (other than cash dividends paid or payable solely out of retained earnings), then, and in each such case, the Holder, upon exercise of this Warrant at any time after the consummation,
effective date or record date of such event, shall receive, in addition to the shares of Warrant Stock issuable upon such exercise prior to such date, the securities or such other assets of the Company to which the Holder would have been entitled
upon such date if the Holder had exercised this Warrant immediately prior thereto (all subject to further adjustment as provided in this Warrant). 

5.3    Adjustment for Reorganization, Consolidation, Merger. Other than any reorganization, consolidation or
merger that constitutes a Change of Control, in case of any reorganization of the Company (or of any other corporation, the stock or other securities of which are at the time receivable on the exercise of this Warrant), after the date of this
Warrant, or in case, after such date, the Company (or any such corporation) shall consolidate with or merge into another corporation or convey all or substantially all of its assets to another corporation and then distribute the proceeds to its
shareholders, then, and in each such case, the Holder, upon the exercise of this Warrant (as provided in Section 2), at any time after the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to receive,
in lieu of the stock or other securities and property receivable upon the exercise of this Warrant prior to such consummation, the stock or other securities or property to which the Holder would have been entitled upon the consummation of such
reorganization, consolidation, merger or conveyance if the Holder had exercised this Warrant immediately prior thereto, all subject to further adjustment as provided in this Warrant, and the successor or purchasing corporation in such
reorganization, consolidation, merger or conveyance (if other than the Company) shall duly execute and deliver to the Holder a supplement hereto acknowledging such corporation’s obligations under this Warrant; and in each such case, the terms
of this Warrant shall be applicable to the shares of stock or other securities or property receivable upon the exercise of this Warrant after the consummation of such reorganization, consolidation, merger or conveyance. 

5.4    Notice of Adjustments. The Company shall promptly give written notice of each adjustment or
readjustment of the Warrant Price or the number of shares of Warrant Stock or other securities issuable upon exercise of this Warrant. The notice shall describe the adjustment or readjustment and show in reasonable detail the facts on which the
adjustment or readjustment is based. 

  
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 5.5    No Change Necessary. The form of this Warrant need
not be changed because of any adjustment in the Warrant Price or in the number of shares of Warrant Stock issuable upon its exercise. 

5.6    Reservation of Stock. If at any time the number of shares of Warrant Stock or other securities
issuable upon exercise of this Warrant shall not be sufficient to effect the exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of
Warrant Stock or other securities issuable upon exercise of this Warrant as shall be sufficient for such purpose. 

6.    REPRESENTATIONS AND WARRANTIES OF HOLDER. Holder hereby represents and warrants to, and agrees with,
the Company, that: 
 6.1    Purchase for Own Account. The Warrant and the Warrant Stock (collectively,
the “Securities”) will be acquired for investment for Holder’s own account, not as a nominee or agent, and not with a view to the public resale or distribution thereof within the meaning of the 1933 Act, and such Holder has no
present intention of selling, granting any participation in, or otherwise distributing the same. 

6.2    Disclosure of Information. Holder has received or has had full access to all the information it
considers necessary or appropriate to make an informed investment decision with respect to the Securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering
of the Securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder had
access. 
 6.3    Investment Experience. Holder understands that the purchase of the Securities involves
substantial risk. Holder (i) has experience as an investor in securities of companies in the development stage and acknowledges that Holder is able to fend for itself, can bear the economic risk of Holder’s investment in the Securities and
has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of this investment in the Securities and protecting its own interests in connection with this investment and/or
(ii) has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables such Holder to be aware of the character, business acumen and
financial circumstances of such persons. 
 6.4    Restricted Securities. Holder understands that the
Securities are characterized as “restricted securities” under the 1933 Act and Rule 144 promulgated thereunder inasmuch as they are being acquired from the Company in a transaction not involving a public offering, and that under the 1933
Act and applicable regulations thereunder such securities may be resold without registration under the 1933 Act only in certain limited circumstances. In this connection, Holder is familiar with Rule 144, as presently in effect, and understands the
resale limitations imposed thereby and by the 1933 Act. Holder understands that the Company is under no obligation to register any of the securities sold hereunder. Holder understands that no public market now exists for any of the Securities and
that it is uncertain whether a public market will ever exist for the Securities. 

  
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 6.5    No Solicitation. At no time was the Holder
presented with or solicited by any publicly issued or circulated newspaper, mail, radio, television or other form of general advertising or solicitation in connection with the offer, sale and purchase of the Securities. 

6.6    Further Limitations on Disposition. Without in any way limiting the representations set forth above,
Holder further agrees not to make any disposition of all or any portion of the Securities unless and until: (a) there is then in effect a registration statement under the 1933 Act covering such proposed disposition and such disposition is made
in accordance with such registration statement; or (b) Holder shall have notified the Company of the proposed disposition, and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition, and,
upon request of the Company, with an opinion of counsel, at the expense of Holder or its transferee, reasonably satisfactory to the Company, that such disposition will not require registration of such securities under the 1933 Act. Notwithstanding
the provisions of paragraphs (a) and (b) above, no such registration statement or opinion of counsel shall be required: (i) for any transfer of the Securities in compliance with Rule 144 or Rule 144A; or (ii) for any transfer of the
Securities by Holder that is a partnership or a corporation to (A) a partner of such partnership or shareholder of such corporation, (B) a controlled affiliate of such partnership or corporation, (C) a retired partner of such
partnership who retires after the date hereof, (D) the estate of any such partner or shareholder; or (iii) for the transfer by gift, will or intestate succession by Holder to his or her spouse or lineal descendants or ancestors or any
trust for any of the foregoing; provided that in each of the foregoing cases the transferee agrees in writing to be subject to the restrictions on transfer set forth in this Section 6 to the same extent as if the transferee were an original
Holder hereunder. 
 6.7    Legends. Such Holder understands and agrees that the certificates evidencing
the Securities will bear legends substantially similar to those set forth below in addition to any other legend that may be required by applicable law, by the Company’s Certificate of Incorporation or Bylaws, or by any agreement between the
Company and such Holder: 
 (a)    THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF APPLICABLE STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND
THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE
SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT. 

(b)    Any legend required by the laws of the State of Washington, including any legend required by the Washington
Department of Corporations and Sections 417 and 418 of the Washington Corporations Code or any other state securities laws. 
 The legend
set forth in (a) above shall be removed by the Company from any certificate evidencing the Securities upon delivery to the Company of an opinion of counsel, reasonably satisfactory to the Company, that a registration statement under the 1933
Act is at that time in 

  
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effect with respect to the legended security or that such security can be freely transferred in a public sale (other than pursuant to Rule 144 or Rule 145 under the 1933 Act) without such a
registration statement being in effect and that such transfer will not jeopardize the exemption or exemptions from registration pursuant to which the Company issued the Securities. No opinion shall be required for routine transactions under Rule
144. 
 6.8    Market Stand-Off Agreement. Holder hereby agrees
that it shall not, to the extent requested by the Company or an underwriter of securities of the Company, sell or otherwise transfer or dispose of any Securities or other shares of stock of the Company then owned by such Holder (other than to donees
or partners of Holder who agree to be similarly bound) for up to one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the 1933 Act. For purposes of this Section 6.8, the term
“Company” shall include any wholly-owned subsidiary of the Company into which the Company merges or consolidates. In order to enforce the foregoing covenant, the Company shall have the right to place the
following restrictive legend on the certificates representing the shares subject to this Section and to impose stop transfer instructions with respect to the Securities and such other Company securities of Holder (and the shares or securities of
every other person subject to the foregoing restriction) until the end of such period. Holder further agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing within any reasonable timeframe so requested.

 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A 180 DAY MARKET STAND-OFF RESTRICTION AS SET FORTH
IN A CERTAIN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER
THE EFFECTIVE DATE OF THE PUBLIC OFFERING OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES. 

7.    NO RIGHTS OR LIABILITIES AS SHAREHOLDER. This Warrant does not by itself entitle the Holder to any
voting rights or other rights as a shareholder of the Company. In the absence of affirmative action by the Holder to purchase Warrant Stock by exercise of this Warrant, no provisions of this Warrant, and no enumeration herein of the rights or
privileges of the Holder, shall cause the Holder to be a shareholder of the Company for any purpose. 

8.    ATTORNEYS’ FEES. In the event any party is required to engage the services of any attorneys for
the purpose of enforcing this Warrant, or any provision thereof, the prevailing party shall be entitled to recover its reasonable expenses and costs in enforcing this Warrant, including attorneys’ fees. 

9.    TRANSFER. Except as expressly provided hereunder, neither this Warrant nor any rights hereunder may be
assigned, conveyed or transferred by Holder, in whole or in part, without the Company’s prior written consent, which the Company may withhold in its sole discretion. The rights and obligations of the Company and the Holder under this Warrant
shall be binding upon and benefit their respective permitted successors, assigns, heirs, administrators and transferees. 

  
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 10.    GOVERNING LAW. This Warrant shall be governed by
and construed under the internal laws of the State of Washington as applied to agreements among Washington residents entered into and to be performed entirely within Washington, without reference to principles of conflict of laws or choice of laws.

 11.    NOTICES. Unless otherwise provided, any notice required or permitted under this Agreement shall
be given in writing and shall be deemed effectively given (i) at the time of personal delivery, if delivery is in person; (ii) one (1) business day after deposit with an express overnight courier for United States deliveries, or two
(2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (iii) three (3) business days after deposit in the United States mail by certified mail (return receipt
requested) for United States deliveries when addressed to the party to be notified at the address indicated for such party on the signature page hereto, or at such other address as any party or the Company may designate by giving ten
(10) days’ advance written notice to all other parties. 
 12.    AMENDMENT; WAIVER. Any term of
this Warrant may be amended, and the observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the Holder. Any
amendment or waiver effected in accordance with this Section shall be binding upon the Holder. 

13.    SEVERABILITY. If one or more provisions of this Warrant are held to be unenforceable under applicable
law, such provision(s) shall be excluded from this Warrant and the balance of the Warrant shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms. 

14.    TERMS BINDING. By acceptance of this Warrant, the Holder accepts and agrees to be bound by all the
terms and conditions of this Warrant. 
 15.    ENTIRE AGREEMENT. This Warrant constitutes the entire
agreement and understanding of the parties with respect to the subject matter hereof and supersedes any and all prior negotiations, correspondence, warrants, agreements, understandings duties or obligations between the parties with respect to the
subject matter hereof. 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Warrant as of the date
first above written. 
  

			
	THE COMPANY:
	
	ADAPTIVE BIOTECHNOLOGIES CORPORATION
		
	By:	 	 /s/ Chad Robins

	Name:	 	 Chad Robins

	Title:	 	 CEO & President

 

					
		 		 	Address:
			
		 	                                      
                                         
                                         
	 	1551 Eastlake Avenue East, Suite 200
		 		 	Seattle, WA 98102

  

			
	AGREED AND ACKNOWLEDGED
	
	THE HOLDER
	
	IMDAPTIVE, INC.
		
	By:	 	 /s/ Steven R. Wiley

	Name:	 	 Steven R. Wiley

	Title:	 	 President

	Address:	 	 3010 NW 56th St.

  
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 EXHIBIT 1 

FORM OF SUBSCRIPTION 

(To be signed only upon exercise of Warrant) 

To: Adaptive Biotechnologies Corporation 
  

	 	(1)	 The undersigned Holder hereby elects to purchase
                     shares of Common Stock of Adaptive Biotechnologies Corporation (the “Warrant Stock”),
pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price for such shares in full. 

  

	 	(2)	 Net Exercise Election. The undersigned Holder elects to convert the Warrant into shares of Warrant Stock
by net exercise election pursuant to Section 2.6 of the Warrant. This conversion is exercised with respect to                      shares
of Warrant Stock. 

  

	 	(3)	 In exercising the Warrant, the undersigned Holder hereby confirms and acknowledges that the representations and
warranties set forth in Section 6 of the Warrant as they apply to the undersigned Holder continue to be true and correct as of this date. 

  

	 	(4)	 Please issue a certificate or certificates representing such shares of Warrant Stock in the name or names
specified below: 

					
			
	  
	 		 	  

	(Name)	 		 	(Name)
	  
	 		 	  

	(Address)	 		 	(Address)
	  
	 	                    	 	  

	(City, State, Zip Code)	 		 	(City, State, Zip Code)
	  
	 		 	  

	(Federal Tax Identification Number)	 		 	(Federal Tax Identification Number)
	  
	 		 	  

	(Date)	 		 	(Date)EX-4.4

 Exhibit 4.4 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE
SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY,
SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 
 WARRANT TO PURCHASE STOCK 

Company: ADAPTIVE BIOTECHNOLOGIES CORPORATION 
 Number
of Shares: 56,875 
 Type/Series of Stock: Series C Preferred Stock 

Warrant Price: $2.6374 per share 
 Issue Date:
April 21, 2014 
 Expiration Date: April 21, 2021 See also Section 5.1(b). 

	Credit Facility:	 This Warrant to Purchase Stock (“Warrant”) is issued in connection with that
certain Loan and Security Agreement of even date herewith between Alexandria Equities, LLC and the Company (the “Loan Agreement”). 

THIS WARRANT CERTIFIES THAT, for good and valuable consideration, Alexandria Equities, LLC (together with any successor or permitted assignee
or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable shares (the
“Shares”) of the above-stated Type/Series of Stock (the “Class”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as
adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 

SECTION 1. EXERCISE.  

1.1    Method of Exercise. Holder may at any time and from time to time exercise this Warrant, in whole or in part,
by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set
forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares
being purchased. 
 1.2    Cashless Exercise. On any exercise of this Warrant, in lieu of payment of the
aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of this Warrant, or portion hereof as to which
this Warrant is being exercised. Thereupon, 

  
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the Company shall issue to the Holder such number of fully paid and non-assessable Shares as are computed using the following formula: 

 

					
		 	X = Y(A-B)/A
			
	 where:
	 		  	
			
		 	X =	  	the number of Shares to be issued to the Holder;
			
		 	Y	  	the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the aggregate Warrant Price);
			
		 	A =	  	the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and
			
		 	B =	  	the Warrant Price.

 1.3    Fair Market Value. If the Company’s common stock is then traded or
quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”) and the
Class is common stock, the fair market value of a Share shall be the closing price or last sale price of a share of common stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its
Notice of Exercise to the Company. If the Company’s common stock is not traded in a Trading Market or the Class is not common stock, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable
good faith judgment. 
 1.4    Delivery of Certificate and New Warrant. Within a reasonable time after Holder
exercises this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has
not expired, a new warrant of like tenor representing the Shares not so acquired. 
 1.5    Replacement of
Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in
form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant
of like tenor and amount. 
 1.6    Treatment of Warrant Upon Acquisition of Company. 

(a)    Acquisition. For the purpose of this Warrant, “Acquisition” means any transaction or series
of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another person or entity
(other than a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in which the shareholders of the Company in their capacity as such immediately prior to such merger,
consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other
transfer by the shareholders of the Company of shares representing at least a majority of the Company’s then-total outstanding combined voting power. 

(b)    Treatment of Warrant at Acquisition. In the event of an Acquisition in which the consideration to be
received by the Company’s shareholders consists solely of cash, 

  
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solely of Marketable Securities or a combination of cash and Marketable Securities (a “Cash/Public Acquisition”), either (i) Holder shall exercise this Warrant
pursuant to Section 1.1 and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition or (ii) if Holder elects not to exercise the Warrant, this Warrant will expire
immediately prior to the consummation of such Acquisition. 
 (c)    The Company shall provide Holder with written
notice of its request relating to the Cash/Public Acquisition (together with such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such contemplated Cash/Public Acquisition giving
rise to such notice), which is to be delivered to Holder not less than seven (7) Business Days prior to the closing of the proposed Cash/Public Acquisition. In the event the Company does not provide such notice, then if, immediately prior to
the Cash/Public Acquisition, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date, then this
Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall promptly notify
the Holder of the number of Shares (or such other securities) issued upon such exercise to the Holder and Holder shall be deemed to have restated each of the representations and warranties in Section 4 of the Warrant as the date thereof. 

(d)    Upon the closing of any Acquisition other than a Cash/Public Acquisition defined above, the acquiring, surviving or
successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise of the unexercised portion of
this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this Warrant. 

(e)    As used in this Warrant, “Marketable Securities” means securities meeting all of the
following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then
current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were
Holder to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) Holder would be able to publicly re-sell, within six (6) months following the closing of
such Acquisition, all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of such Acquisition. 

SECTION 2. ADJUSTMENTS TO THE SHARES AND WARRANT PRICE. 

2.1    Stock Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding
shares of the Class payable in common stock or other securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of
securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding shares of the

  
 3 

 
Class by reclassification or otherwise into a greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be
proportionately decreased. If the outstanding shares of the Class are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares
shall be proportionately decreased. 
 2.2    Reclassification, Exchange, Combinations or Substitution. Upon any
event whereby all of the outstanding shares of the Class are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such
event, this Warrant will be exercisable for the number, class and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter
from time to time in accordance with the provisions of this Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events. 

2.3    No Fractional Share. No fractional Share shall be issuable upon exercise of this Warrant and the number of
Shares to be issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by
multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price. 

2.4    Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price, Class and/or number of
Shares, the Company, at the Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, Class and/or number of Shares and facts upon which such adjustment is based. The
Company shall, upon written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price, Class and number of Shares in effect upon the date of such
adjustment. 
 SECTION 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1    Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as
follows: 
 (a)    The initial Warrant Price referenced on the first page of this Warrant is not greater than the price
per share at which shares of the Class were sold pursuant to the Company’s Series C Preferred Stock Purchase Agreement, dated as of July 1, 2013. 

(b)    All Shares which may be issued upon the exercise of this Warrant shall, upon issuance pursuant to the terms
hereof, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein, under applicable federal and state
securities laws or created by the Holder. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued capital stock such number of shares of the Class, common stock and other securities
as will be sufficient to permit the exercise in full of this Warrant and the conversion of the Shares into common stock or such other securities. 

  
 4 

 (c)    Upon exercise of this Warrant pursuant to the terms hereof, the
Holder shall be entitled to receive, with respect to the Shares, the registration rights set forth in that certain Third Amended and Restated Investors’ Rights Agreement, dated as of April 3, 2014, by and among the Company and certain
holders of the Company’s capital stock (the “IRA”). 
 3.2    Notice of Certain
Events. If the Company proposes at any time to: 
 (a)    declare any dividend or distribution upon the outstanding
shares of the Class or common stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; 

(b)    effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the
outstanding shares of the Class; 
 (c)    effect an Acquisition or to liquidate, dissolve or wind up; or 

(d)    effect an IPO; 

then, in connection with each such event, the Company shall give Holder: 

(1)    in the case of the matters referred to in (a) above at least seven (7) Business Days prior
written notice of the date on which a record will be taken for such dividend or distribution (and specifying the date on which the holders of outstanding shares of the Class will be entitled thereto) or for determining rights to vote, if any,
in respect of the matters referred to in (a) above; 
 (2)    in the case of the matters referred to
in (b) and (c) above at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Class will be entitled to exchange their
shares for the securities or other property deliverable upon the occurrence of such event); and 

(3)    with respect to the IPO, at least seven (7) Business Days prior written notice of the date on
which the Company proposes to file its registration statement in connection therewith. 
 Reference is made to Section 1.6(c) whereby this Warrant will
be deemed to be exercised pursuant to Section 1.2 hereof if the Company does not give written notice to Holder of a Cash/Public Acquisition as required by the terms hereof. Company will also provide information requested by Holder that is
reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements. 

  
 5 

 SECTION 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER.  

The Holder represents and warrants to the Company as follows: 

4.1    Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by
Holder are being acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the
specific purpose of acquiring this Warrant or the Shares. 
 4.2    Disclosure of Information. Holder is aware of
the Company’s business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant
and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional
information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 

4.3    Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities
involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying
securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business
relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4    Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D
promulgated under the Act. 
 4.5    The Act. Holder understands that this Warrant and the Shares issuable upon
exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder
understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and
qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act. 

4.6    Market Stand-off Agreement. The Holder agrees that the Shares shall
be subject to the Market Standoff provisions in Section 2.12 of the IRA. 
 4.7    No Voting Rights. Holder,
as a Holder of this Warrant, will not have any voting rights until the exercise of this Warrant. 

  
 6 

 SECTION 5. MISCELLANEOUS. 

5.1    Term and Automatic Conversion Upon Expiration. 

(a)    Term. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part
at any time and from time to time on or before 6:00 PM, Pacific time, on the Expiration Date and shall be void thereafter. 

(b)    Automatic Cashless Exercise upon Expiration. In the event that, upon the Expiration Date, the fair market
value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of
such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time, deliver a certificate representing the
Shares (or such other securities) issued upon such exercise to Holder. 
 5.2    Legends. The Shares (and the
securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE ISSUER TO ALEXANDRIA EQUITIES, LLC DATED APRIL 21, 2014, MAY NOT BE OFFERED, SOLD, PLEDGED OR
OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 

5.3    Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this
Warrant may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation
letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to an affiliate of Holder, provided that any such
transferee is an “accredited investor” as defined in Regulation D promulgated under ,the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144
promulgated under the Act. 
 5.4    Transfer Procedure. Subject to the provisions of Section 5.3 and upon
providing the Company with written notice, the Holder and any subsequent Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant to any transferee, provided, however, in connection with any such transfer,
the Holder or any subsequent Holder will 

  
 7 

 
give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the
Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any subsequent transferee shall agree in writing with the Company to be bound by all of the terms and conditions of this Warrant. Notwithstanding any
contrary provision herein, at all times prior to the IPO, Holder may not, without the Company’s prior written consent, transfer this Warrant or any portion hereof, or any Shares issued upon any exercise hereof, to any person or entity who
directly competes with the Company, except in connection with an Acquisition of the Company by such a direct competitor. 

5.5    Notices. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall
be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by facsimile or
electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished
to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.5. All notices to Holder shall be addressed as follows until the Company receives
notice of a change of address in connection with a transfer or otherwise: 
 Alexandria Equities, LLC 

385 E. Colorado Blvd. Suite 299 

Pasadena, CA 91101 
 Email.:

 With a copy to: 

Alexandria Equities, LLC 
 385
E. Colorado Blvd. Suite 299 
 Pasadena, CA 91101 

Attn.: 
 Email: 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: 

Adaptive Biotechnologies Corporation 

Attn: Chad Robins 
 1551
Eastlake Avenue East, Suite 200 
 Seattle, WA 98102 

Telephone: 
 Facsimile: 

Email: 

  
 8 

 5.6    Waiver. This Warrant and any term hereof may be changed,
waived, discharged or terminated (either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination
is sought. 
 5.7    Attorney’s Fees. In the event of any dispute between the parties concerning the terms
and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8    Counterparts; Facsimile/Electronic Signatures. This Warrant may be executed in counterparts, all of which
together shall constitute one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any
amendment thereto. 
 5.9    Governing Law. This Warrant shall be governed by and construed in accordance with
the laws of the State of California, without giving effect to its principles regarding conflicts of law. 

5.10    Headings. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise
affect the meaning of any provision of this Warrant. 
 5.11    Business Days. “Business
Day” is any day that is not a Saturday, Sunday or a day on which banks are closed. 
 [Remainder of page left blank
intentionally] 
 [Signature page follows] 

  
 9 

 IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Stock to be executed by
their duly authorized representatives effective as of the Issue Date written above. 
  

			
	“COMPANY”
	
	ADAPTIVE BIOTECHNOLOGIES CORPORATION
		
	By:	 	     /s/ Chad Robins

	Name:	 	 Chad Robins

		 	(Print)
	Title:	 	CEO & President

 “HOLDER”

 ALEXANDRIA EQUITIES, LLC, 
 a Delaware limited liability
company 
  

					
	By;	 	 Alexandria Real Estate Equities, Inc.,

a Maryland corporation, managing member

			
		 	By:	 	     /s/ Jennifer Banks

		 	Name:	 	Jennifer Banks
		 	Title:	 	EVP, General Counsel

 APPENDIX 1 

NOTICE OF EXERCISE 

1.    The undersigned Holder hereby exercises its right purchase
                     shares of the Series C Preferred Stock of ADAPTIVE BIOTECHNOLOGIES CORPORATION (the “Company”) in
accordance with the attached Warrant To Purchase Stock, and tenders payment of the aggregate Warrant Price for such shares as follows: 
  

	 	☐	 check in the amount of $         payable to order of the Company
enclosed herewith 

  

	 	☐	 Wire transfer of immediately available funds to the Company’s account 

 

	 	☐	 Cashless Exercise pursuant to Section 1.2 of the Warrant 

 

	 	☐	 Other [Describe]
                                         
                                         
                                   

2.    Please issue a certificate or certificates representing the Shares in the name specified below: 

 

					
		  	  
 Holder’s Name
	  	
			
		  	  
	  	
			
		  	  
	  	
		  	(Address)	  	

 3.    By its execution below and for the benefit of the Company, Holder hereby restates
each of the representations and warranties in Section 4 of the Warrant to Purchase Stock as of the date hereof 
  

			
	HOLDER:
	
	  

		
	By:	 	
                     
                                         
      

	Name:	 	  

	Title:	 	  

	(Date):	 	  

  
 Appendix 1

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