Document:

Exhibit 10.2

   
   

   
  Certain identified information has been excluded from this exhibit because it is both not material and is the
          type that the registrant treats as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”.

   
   

   
  Confidential

   
   

   
  License Agreement

   
   

   
  This Agreement is entered into with effect as of the Effective Date (as defined below)

   
   

   
  by and between

   
   

   
  F. Hoffmann-La Roche Ltd

    with an office and place of business at Grenzacherstrasse 124, 4070 Basel, Switzerland (“Roche Basel”)

   
   

   
  and

   
   

   
  Hoffmann-La Roche Inc.

    with an office and place of business at 150 Clove Road, Suite 8, Little Falls, New Jersey 07424, U.S.A. (“Roche US”; Roche Basel and Roche US together referred to as “Roche”), on the one hand

   
   

   
  and

   
   

   
  Disc Medicine, Inc.

    with an office and place of business at 150 Cambridge Park Drive, Suite 103, Cambridge, Massachusetts 02140, U.S.A. (and all of its Affiliates “Company”), on the other hand.

   
   

   
  
     

    
      
 

  

   

   
  Table of Contents

   
   

   
  	1.        Definitions	1
	1.1   Affiliate	1
	1.2   Agreement	1
	1.3   Agreement Term	1
	1.4   Applicable Law	1
	1.5   Calendar Quarter	1

        
	1.6   Calendar Year	2
	1.7   Change of Control	2
	1.8   Change of Control Group	2
	1.9   Combination Product	2
	1.10   Commercially Reasonable Efforts	2

        
	1.11   Company Know-How	3
	1.12   Company Patent Rights	3
	1.13   Completion	3
	1.14   Compound	3
	1.15   Confidential Information	3
	1.16   Continuation Election Notice	4
	1.17   Control	4
	1.18   Cover	4
	1.19   Data Room	4
	1.20   Development Plan	4
	1.21   Effective Date	4

        
	1.22   Exclusivity Agreement	4

        
	1.23   EU	4

        
	1.24   Expert	5
	1.25   FDA	5
	1.26   FDCA	5
	1.27   Field	5
	1.28   Filing	5
	1.29   First Commercial Sale	5
	1.30   GAAP	5
	1.31   Generic Product	5

        
	1.32   Handle	5

        
	1.33   IFRS	5

        
	1.34   IND	5

        
	1.35   Indication	6
	1.36   Initiation	6
	1.37   Insolvency Event	6

        
	1.38   Invention	6

        
	1.39   IPO	6

        
	1.40   Joint Know-How	6

        
	1.41   Joint Patent Rights	6

        
	1.42   Know-How	6

        
	1.43   Major EU Countries	7
	1.44   NDA	7
	1.45   Net Proceeds	7
	1.46   Net Sales	8

        
	1.47   Non-Disclosure Agreement	8

        
	1.48   Partner	8

        
	1.49   Partner Agreement	8

        

   
   

   
  
     

    
      
 

  

   

   
  	1.50   Party	9

        
	1.51   Patent Rights	9

        
	1.52   Phase III Study	9

        
	1.53   Product	9

        
	1.54   Regulatory Approval	9

        
	1.55   Regulatory Authority	9

        
	1.56   Regulatory Exclusivity	9

        
	1.57   Roche Know-How	10
	1.58   Roche Patent Rights	10
	1.59   Royalty Term	10
	1.60   Strategic Transaction	10
	1.61   Sublicensees	10
	1.62   Territory	10
	1.63   Third Party	10
	1.64   US	10
	1.65   US$	10
	1.66   Valid Claim	10
	1.67   Additional Definitions	11
	2.         Grant of License	12
	2.1   Exclusive License	12
	2.2   Non-exclusive License	12
	2.3   Right to Sublicense	12
	2.4   Right to enter into Partner Agreements	12
	2.5   Sub-Contractors	13
	2.6   Retained Rights	14
	3.        Right of First Negotiation	14
	3.1   Roche Exclusive Right of First Negotiation	14
	3.2   Due Diligence	14
	3.3   Negotiation Process	16
	4.        Alliance Managers and Technology Transfer	16
	4.1   Alliance Managers	16
	4.2   Roche Know-How Transfer	16
	4.3   Roche Material Transfer	16
	4.4   Regulatory Filings	17
	4.5   No Further Obligations	17
	5.        Diligence	17
	6.        Development	17

        
	6.1   Responsibility	17

        
	6.2   Development Plan	17

        
	6.3   Reporting	18

        
	7.        Supply	18

        
	7.1   Clinical and Non-Clinical Supply of Product	18

        
	7.2   Commercial Supply of Product	18

        
	8.       Regulatory	18

        
	8.1   Responsibility	18

        
	8.2   Informed Consent Forms	18

        
	8.3   Pharmacovigilance Agreement	18

        
	9.       Commercialization	18

        
	9.1   Responsibility	18

        
	9.2   Reporting and Updates	19

        
	10.      Payment	19

        

   
   

   
  
     

    
      
 

  

   

   
  	10.1   Upfront Payment	19

        
	10.2   Development Event Payments	19

        
	10.3   Sales Based Events	20

        
	10.4   Royalty Payments	20
	10.5   Combination Product	21
	10.6   Expert Committee	21
	10.7   No Valid Claim	21
	10.8   Generic Product	21
	10.9   Third Party Payments	21
	10.10   Strategic Transaction	22
	10.11   IPO	22
	11.      Accounting and Reporting	22
	11.1   Timing of Payments	22
	11.2   Late Payment	22
	11.3   Method of Payment	23
	11.4   Currency Conversion	23
	11.5   Reporting	23
	12.      Taxes	23
	13.      Auditing	24
	13.1   Roche Right to Audit	24
	13.2   Audit Reports	24
	13.3   Over-or Underpayment	24
	14.      Intellectual Property	24
	14.1   Ownership of Inventions and Know-How	24
	14.2   German Statute on Employee’s Inventions	25
	14.3   Prosecution of Roche Patent Rights	25
	14.4   Prosecution of Company Patent Rights and Joint Patent Rights	25

        
	14.5   CREATE Act	25

        
	14.6   Patent Coordination Team	25

        
	14.7   Unified Patent Court (Europe)	25

        
	14.8   Abandonment of Patent Rights	26

        
	14.9   Infringement	26

        
	14.10   Defense	27

        
	14.11   Common Interest Disclosures	28

        
	14.12   Hatch-Waxman	28

        
	14.13   Patent Term Extensions	28

        
	15.      Representations and Warranties (Garantien)	29

        
	15.1   Mutual representations and warranties	29

        
	15.2   Roche Representations and Warranties	29

        
	15.3   Limitations	30

        
	15.4   Disclaimer	30

        
	16.      Indemnification	30

        
	16.1   Roche indemnification	30

        
	16.2   Company indemnification	31
	16.3   Procedure	31
	17.      Liability	31
	17.1   Disclaimer	31
	17.2   Limitation of Liability	31
	18.      Obligation Not to Disclose Confidential Information	32
	18.1   Non-Use and Non-Disclosure	32
	18.2   Permitted Disclosure	32

   
   

   
  
     

    
      
 

  

   

   
  	18.3   Press Releases	33
	18.4   Publications	33
	18.5   Commercial Considerations	33
	19.       Term and Termination	34
	19.1   Commencement and Term	34
	19.2   Termination	34
	19.3   Consequences of Termination	35
	19.4   Obligations Related to Ongoing Activities	36

        
	19.5   Obligations Related to Manufacturing	37

        
	19.6   Direct License	37

        
	19.7   Royalty and Payment Obligations	37

        
	19.8   Survival	37

        
	20.      Bankruptcy	37

        
	21.      Miscellaneous	38

        
	21.1   Entire Agreement	38

        
	21.2   Written Form	38

        
	21.3   Governing Law	38

        
	21.4   Disputes	38

        
	21.5   Arbitration	38

        
	21.6   Arbitrators	39

        
	21.7   Decisions; Timing of Decisions	39

        
	21.8   Insurance	40
	21.9   Assignment	40
	21.10   Debarment	40
	21.11   Independent Contractor	40
	21.12   Unenforceable Provisions and Severability	40
	21.13   Waiver	41
	21.14   Appendices	41
	21.15   Interpretation	41
	21.16   Invoices	41
	21.17   Notice	42

   
  
     

    
      
 

  

   

   
  License Agreement

   
   

   
  WHEREAS, Roche has discovered and has conducted certain research and development related to, and possesses certain proprietary intellectual property with respect to
    a certain orally administered small molecule [***] that selectively inhibits the Glycine Transporter 1 (GlyT1) including [***] (each a “Compound” as further defined below); and

   
   

   
  WHEREAS, Company desires to obtain, and Roche is willing to grant to Company an exclusive, royalty-bearing license under Roche Know-How and Roche Patent Rights (each
    as defined below) to develop, manufacture, commercialize and otherwise exploit Compounds and Products in the Field in the Territory (terms as defined below), subject to the terms and conditions hereof; and

   
   

   
  NOW, THEREFORE, in consideration of the mutual covenants and promises contained in this Agreement and other good and valuable consideration, the receipt and
    sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows:

   
   

   
  	

        	1.	Definitions

   
  As used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings:

   
   

   
  	

        	1.1	Affiliate

   
  The term “Affiliate” shall mean any individual, corporation, association or other business entity that directly or indirectly controls, is controlled by, or is under
    common control with the Party in question. As used in this definition of “Affiliate,” the term “control” shall mean the direct or indirect ownership of more than fifty percent (>50%) of the stock having the right to vote for directors thereof or the
    ability to otherwise control the management of the corporation or other business entity whether through the ownership of voting securities, by contract, resolution, regulation or otherwise. [***]

   
   

   
  	

        	1.2	Agreement

   
  The term “Agreement” shall mean this document including any and all appendices and amendments to it, as may be added or amended from time to time in accordance with
    the provisions of this Agreement.

   
   

   
  	

        	1.3	Agreement Term

   
  The term “Agreement Term” shall mean the period of time commencing on the Effective Date and, unless this Agreement is terminated sooner as provided in Article 19,
    ending on the date of the expiry of the last to expire Royalty Term.

   
   

   
  	

        	1.4	Applicable Law

   
  The term “Applicable Law” shall mean any law, statute, ordinance, code, rule or regulation that has been enacted by a government authority (including any Regulatory
    Authority) and is in force as of the Effective Date or comes into force during the Agreement Term, in each case to the extent that the same are applicable to the performance by the Parties of their respective obligations under this Agreement. For
    clarity, the term Applicable Law shall include GLP, GCP, and GMP and their foreign equivalents.

   
   

   
  	

        	1.5	Calendar Quarter

   
  The term “Calendar Quarter” shall mean each period of three (3) consecutive calendar months, ending March 31, June 30, September 30, and December 31, except for the
    first Calendar Quarter of the Agreement Term which shall begin on the Effective Date and end on the first to occur of March 31, June 30, September 30, and December 31 after the Effective Date, and the last Calendar Quarter of the Agreement Term which
    shall end on the last day of the Agreement Term.

   
   

   
  
     

    
      
 

  

  
   

   
  	

        	1.6	Calendar Year

   
  The term “Calendar Year” shall mean the period of time beginning on January 1 and ending December 31, except for the first Calendar Year of the Agreement Term which
    shall begin on the Effective Date and end on December 31 of the year in which the Effective Date occurs, and the last Calendar Year of the Agreement Term which shall end on the last day of the Agreement Term.

   
   

   
  	

        	1.7	Change of Control

   
  The term “Change of Control” shall mean, with respect to a Party: (a) the acquisition by one or more Third Parties of beneficial ownership of fifty percent (50%) or
    more of the then outstanding capital stock or voting power of such Party, other than acquisitions by employee benefit plans sponsored or maintained by such Party; (b) the consummation of a business combination involving such Party, unless, following
    such business combination, the stockholders of such Party that owned directly or indirectly more than fifty percent (50%) of the then outstanding capital stock or voting power of the entity immediately prior to such business combination beneficially
    own directly or indirectly more than fifty percent (50%) of the then outstanding capital stock or voting power of the entity resulting from such business combination or the ultimate parent entity of such entity; or (c) the sale of all or substantially
    all of such Party’s assets or business relating to the subject matter of the Agreement. Notwithstanding the foregoing, the consummation of an IPO or any other bona fide financing by Company shall not be deemed a Change of Control of Company.

   
   

   
  	

        	1.8	Change of Control Group

   
  The term “Change of Control Group” shall mean with respect to a Party, the person or entity, or group of persons or entities, that is the acquirer of, or a successor
    to, such Party in connection with a Change of Control, together with Affiliates of such persons or entities that are not Affiliates of such Party immediately prior to the completion of such Change of Control of such Party.

   
   

   
  	

        	1.9	Combination Product

   
  The term “Combination Product” shall mean

   
   

   
  (i)            a single pharmaceutical formulation containing as its active pharmaceutical ingredients
    both a Compound and one or more other therapeutically or prophylactically active pharmaceutical ingredients (an “Other Component”), or

   
   

   
  (ii)           a combination therapy or prophylactic comprised of a Compound and one or more Other
    Components, priced and sold in a single package containing such multiple products or packaged separately but sold together for a single price,

   
   

   
  in each case, including all dosage forms, formulations, presentations, line extensions, and package configurations. All references to Product in this Agreement shall
    include Combination Product.

   
   

   
  	

        	1.10	Commercially Reasonable Efforts

   
  The term “Commercially Reasonable Efforts” shall mean [***].

   
   

   
  
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        	1.11	Company Know-How

   
  The term “Company Know-How” shall mean the Know-How (other than Joint Know-How) that Company Controls at the Effective Date and during the Agreement Term that is
    necessary for the development, manufacture, commercialization or other exploitation of the Compounds and Products.

   
   

   
  	

        	1.12	Company Patent Rights

   
  The term “Company Patent Rights” shall mean the Patent Rights (other than Joint Patent Rights) that Company Controls at the Effective Date and during the Agreement
    Term that Cover the development, manufacture, commercialization or other exploitation of the Compounds and Products.

   
   

   
  	

        	1.13	Completion

   
  The term “Completion” shall mean, with respect to a Phase III Study, the date of the last scheduled visit for the last study subject.

   
   

   
  	

        	1.14	Compound

   
  The term “Compound” shall mean small molecule [***] that selectively inhibits the Glycine Transporter 1 (GlyT1) including [***] covered by Roche Patent Rights or
    [***].

   
   

   
  	

        	1.15	Confidential Information

   
  The term “Confidential Information” shall mean the terms of this Agreement and any and all information, data or know-how (including Know-How), whether technical or
    non-technical, oral or written, that is disclosed by one Party or its Affiliates (“Disclosing Party”) to the other Party or its Affiliates (“Receiving Party”). Confidential Information shall not include any information, data or know-how
    that:

   
   

   
  (i)            was generally available to the public at the time of disclosure, or information that
    becomes available to the public after disclosure by the Disclosing Party other than through fault (whether by action or inaction) of the Receiving Party or its Affiliates,

   
   

   
  (ii)           can be evidenced by written records to have been already known to the Receiving Party or
    its Affiliates prior to its receipt from the Disclosing Party,

   
   

   
  (iii)          is obtained at any time lawfully from a Third Party under circumstances permitting its
    use or disclosure,

   
   

   
  (iv)          is developed independently by the Receiving Party or its Affiliates as evidenced by
    written records other than through knowledge of Confidential Information, or

   
   

   
  (v)           is approved in writing by the Disclosing Party for release by the Receiving Party.

   
   

   
  The terms of this Agreement shall be considered Confidential Information of both Parties with each Party being considered the Receiving Party with respect to such
    Confidential Information. During the Agreement Term, all Confidential Information regarding the Compounds and Products shall be considered Confidential Information of Company. Except as set forth in the preceding sentence, all information disclosed by
    a Party under the Non-Disclosure Agreement shall be the Confidential Information of the Party disclosing such information.

   
   

   
  
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        	1.16	Continuation Election Notice

   
  The term “Continuation Election Notice” shall mean the notice Roche provides to Company under Section 19.3.2.

   
   

   
  	

        	1.17	Control

   
  The term “Control” shall mean (as an adjective or as a verb including conjugations and variations such as “Controls” “Controlled” or “Controlling”) (a) with respect
    to Patent Rights or Know-How, the possession by a Party of the ability to grant a license or sublicense of such Patent Rights or Know-How without violating the terms of any agreement or arrangement between such Party and any other party and (b) with
    respect to proprietary materials, the possession by a Party of the ability to supply such proprietary materials to the other Party as provided herein without violating the terms of any agreement or arrangement between such Party and any other party; provided,
    however, that any intellectual property right that is owned or licensed by an acquirer of a Party or any Affiliate of such acquirer (excluding any Affiliate that was an Affiliate of the relevant Party prior to a Change of Control and became an
    Affiliate of such acquirer as a result of such Change of Control) will not be deemed to be Controlled by such Party for purposes of this Agreement unless and only to the extent such intellectual property right is used in connection with the
    development, manufacture, commercialization or other exploitation of a Compound or Product following such Change of Control.

   
   

   
  	

        	1.18	Cover

   
  The term “Cover” shall mean (as an adjective or as a verb including conjugations and variations such as “Covered,” “Coverage” or “Covering”) that the developing,
    making, using, offering for sale, promoting, selling, exporting or importing of a given compound, formulation or product would infringe a Valid Claim included in a particular Patent Right in the absence of a license under, or ownership of, such Patent
    Right. The determination of whether a compound, formulation, process or product is Covered by a particular Valid Claim shall be made on a country-by-country basis.

   
   

   
  	

        	1.19	Data Room

   
  The term “Data Room” shall mean the electronic due diligence data room containing all material data and information relevant to the Compounds and Products that are
    the subject of the applicable Major Market Agreement or Change of Control, including Company Patent Rights, Joint Patent Rights, clinical data, regulatory correspondence, and Chemistry, Manufacturing, and Controls (“CMC”) data.

   
   

   
  	

        	1.20	Development Plan

   
  The term “Development Plan” shall mean the plan for the development of the Products as set forth in Section 6.2, as may be amended in accordance with the terms of
    this Agreement.

   
   

   
  	

        	1.21	Effective Date

   
  The term “Effective Date” shall mean May 7, 2021.

   
   

   
  	

        	1.22	Exclusivity Agreement

   
  The term “Exclusivity Agreement” shall mean the exclusivity agreement between Roche and Company effective March 9, 2021.

   
   

   
  	

        	1.23	EU

   
  The term “EU” shall mean the organization of member states known as the European Union, as its membership may be altered from time to time, and any successor
    thereto, and all of its then current member countries. Notwithstanding the foregoing, the term EU shall in any event include the United Kingdom.

   
   

   
  
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        	1.24	Expert

   
  The term “Expert” shall mean a person with no less than [***] of pharmaceutical industry experience and expertise having occupied at least one senior position within
    a large pharmaceutical company relating to product commercialization or licensing, but excluding any current or former employee or consultant of either Party. Such person shall be fluent in the English language.

   
   

   
  	

        	1.25	FDA

   
  The term “FDA” shall mean the Food and Drug Administration of the US or any successor agency thereto, or its foreign equivalent, e.g., the European Medicines Agency
    in the EU, the Pharmaceuticals and Medical Devices Agency in Japan, and the National Medical Products Administration in China.

   
   

   
  	

        	1.26	FDCA

   
  The term “FDCA” shall mean the Food, Drug and Cosmetics Act, as amended, and the rules and regulations promulgated thereunder.

   
   

   
  	

        	1.27	Field

   
  The term “Field” shall mean all prophylactic and therapeutic uses in all Indications, excluding diagnostic uses.

   
   

   
  	

        	1.28	Filing

   
  The term “Filing” shall mean the filing of an NDA to the FDA.

   
   

   
  	

        	1.29	First Commercial Sale

   
  The term “First Commercial Sale” shall mean [***].

   
   

   
  	

        	1.30	GAAP

   
  The term “GAAP” shall mean Generally Accepted Accounting Principles.

   
   

   
  	

        	1.31	Generic Product

   
  The term “Generic Product” shall mean, with respect to a Product, a pharmaceutical composition, preparation, or other product that (i) in the US, is approved under
    21 U.S.C. 355(j) and has an “AB” rating with respect to such Product (or the equivalent of such statute if amended), or (ii) in countries of the EU, is authorized to be placed on the market in accordance with Article 10(1)(a)(iii) of Directive
    2001/83/EC (or the equivalent of such statute if amended), or (iii) in countries of the Territory other than countries of the EU or the US, (x) [***] and (y) [***].

   
   

   
  	

        	1.32	Handle

   
  The term “Handle” shall mean with respect to Patent Rights preparing, filing, prosecuting (including interference and opposition proceedings) and maintaining
    (including payment of maintenance fees and annuities and overseeing interferences, proceedings, reissue applications and proceedings, re-examination applications and proceedings, post-grant reviews, inter partes reviews, derivation proceedings and
    opposition proceedings).

   
   

   
  	

        	1.33	IFRS

   
  The term “IFRS” shall mean International Financial Reporting Standards.

   
   

   
  	

        	1.34	IND

   
  The term “IND” shall mean an Investigational New Drug application as defined in the FDCA and applicable regulations promulgated by the FDA, or the equivalent
    application to the equivalent agency in any other country or group of countries, the filing of which is necessary to commence clinical testing of a Product in humans.

   
   

   
  
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        	1.35	Indication

   
  The term “Indication” shall mean a disease (i) for which the Product is indicated for treatment, prevention, mitigation, cure or relief, and (ii) that is described
    in the Product label as required by the Regulatory Approval granted by the applicable Regulatory Authority. For the avoidance of doubt, erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLPP) shall together be deemed a single Indication.

   
   

   
  	

        	1.36	Initiation

   
  The term “Initiation” shall mean the date the [***] is dosed with the Product [***].

   
   

   
  	

        	1.37	Insolvency Event

   
  The term “Insolvency Event” shall mean circumstances under which a Party (i) has a receiver or similar officer appointed by a court of competent jurisdiction or
    governmental authority over all or a material part of its assets or undertaking; (ii) passes a resolution for winding-up (other than a winding-up for the purpose of, or in connection with, any solvent amalgamation or reconstruction) or a court makes an
    order to that effect or a court makes an order for administration (or any equivalent order in any jurisdiction); (iii) enters into any composition or arrangement with its creditors (other than relating to a solvent restructuring); (iv) ceases to carry
    on business; or (v) is unable to pay its debts as they become due in the ordinary course of business.

   
   

   
  	

        	1.38	Invention

   
  The term “Invention” shall mean an invention that is conceived or reduced to practice in connection with any activity carried out pursuant to this Agreement. Under
    this definition, an Invention may be made by employees of Company solely or jointly with a Third Party (a “Company Invention”), by employees of Roche solely or jointly with a Third Party (a “Roche Invention”), or jointly by employees of
    Company and Roche with or without a Third Party (a “Joint Invention”). Inventorship of any Invention will be determined in accordance with U.S. patent law.

   
   

   
  	

        	1.39	IPO

   
  The term “IPO” shall mean, with respect to Company, Company’s (i) first underwritten public offering of its common stock under the Securities Act of 1933, as
    amended, and the rules and regulations promulgated thereunder, or, with respect to any non-US public offering, under any foreign equivalent ,or (ii) a “reverse merger” of Company prior to its first underwritten public offering with a Third Party
    publicly traded company or a subsidiary of such Third Party publicly traded company or any merger with a special purpose acquisition company or a subsidiary of such special purpose acquisition company.

   
   

   
  	

        	1.40	Joint Know-How

   
  The term “Joint Know-How” shall mean Know-How that is made jointly by the Parties or their Affiliates in connection with any activity carried out pursuant to this
    Agreement, including all Joint Inventions.

   
   

   
  	

        	1.41	Joint Patent Rights

   
  The term “Joint Patent Rights” shall mean all Patent Rights Covering any Joint Know-How.

   
   

   
  	

        	1.42	Know-How

   
  The term “Know-How” shall mean data, knowledge and information, including materials, samples, chemical manufacturing data, toxicological data, pharmacological data,
    preclinical data, proprietary assays related to the Compound, platforms, formulations, specifications, quality control testing data, any of which are necessary for the research, manufacture, development or commercialization of Compounds or Products.

   
   

   
  
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        	1.43	Major EU Countries

   
  The term “Major EU Countries” shall mean France, Germany, Italy, Spain and the United Kingdom.

   
   

   
  	

        	1.44	NDA

   
  The term “NDA” shall mean a new drug application, including all necessary documents, data, and other information concerning a Product, required for Regulatory
    Approval of the Product as a pharmaceutical product by the FDA or an equivalent application to the equivalent agency in any other country or group of countries (e.g., the marketing authorization application (MAA) in the EU).

   
   

   
  	

        	1.45	Net Proceeds

   
  The term “Net Proceeds” shall mean:

   
   

   
  (i)         In the case of a Strategic Transaction that is a Partner Agreement, the aggregate proceeds
    as and when received by Company or its Affiliates in consideration for the transfer of rights to the Compound and Product to the Partner under such Partner Agreement, including any upfront payments, event based milestone payments, royalty payments
    (subject to the proviso below) and all other monetary and non-monetary consideration (with non-monetary consideration being valued at the fair market value thereof, but excluding the value of customary rights, obligations and grant-backs (including
    grant-back licenses to improvements to Company’s technology)), directly or indirectly from the Partner under such Partner Agreement, minus the transaction costs; provided however that excluded from any such proceeds are all of the following:
    [***]. To the extent any Partner Agreement involves the license or other transfer of rights to compounds or products in addition to the license or transfer of rights to the Compound or Product, “Net Proceeds” with respect to such Partner Agreement
    shall be the portion of the payments listed above that is attributable to the value of the Compound or Product and not such other compounds or products.

   
   

   
  (ii)        In the case of a Change of Control of Company that is a Strategic Transaction, the total
    consideration as and when received by Company, minus the transaction costs, as consideration for the Change of Control (prior to the calculation of the Strategic Transaction Revenues), to the extent attributable to the value of the Compounds and
    Products and not any Additional Assets, and shall include: (a) cash; (b) equity securities (which, if of the same class as securities that are publicly traded, will be valued in accordance with the valuation methodology set forth in the definitive
    agreement for the Change of Control transaction or, if not so specified, at the average of the last closing market price thereof [***] prior to the public announcement of the Change of Control, and, if not so publicly traded, as valued by the Board of
    Directors of Company in good faith); (c) the value of assumed, “cashed out” or substituted options, warrants or other rights to acquire equity securities (net of exercise prices); and (d) any interest-bearing indebtedness for borrowed money of Company
    that is (i) assumed by an acquiring party or remains outstanding at the time of closing of the Change of Control (less all cash and cash equivalents of Company at the time of closing of the Change of Control) or (ii) decreased, repaid or extinguished
    in connection with the Change of Control; provided, however that excluded from any such proceeds are all of the following: [***].

   
   

   
  
    -7-

    
      
 

  

   

   
  	

        	1.46	Net Sales

   
  The term “Net Sales” shall mean, for a Product in a particular period, the amount of gross sales of a Product in the Territory invoiced by Company or its Affiliates
    that are sublicensed under this Agreement or Sublicensee (excluding third party distributors) to Third Parties, as reduced by the following deductions taken by the applicable Company, Affiliate that is sublicensed under this Agreement, or Sublicensee
    in accordance with the then currently used IFRS or GAAP, as applicable, to the extent actually allowed or incurred with respect to such sales: [***].

   
   

   
  For purposes of determining Net Sales, a Product shall be deemed to be sold when invoiced, and a “sale” shall not include transfers or dispositions of such Product
    for pre-clinical or clinical purposes or as samples or to an Affiliate that is sublicensed under this Agreement or a Sublicensee unless such Affiliate or Sublicensee is the end-user of such Product.

   
   

   
  In the case of any Combination Product sold in a given country in the Territory, Net Sales of the Combination Product in such country will be
    calculated by multiplying actual Net Sales of such Combination Product in such country [***].

   
   

   
  If, on a country-by-country basis, the Compound is sold separately as a stand-alone Product in a country, but the Other Components in the
    Combination Product are not sold separately in such country, then Net Sales of the Combination Product for such country will be calculated [***].

   
   

   
  If, on a country-by-country basis, the Compound in the Combination Product is not sold separately as a stand-alone Product in such country, but
    the Other Components included in the Product are sold separately in such country, then Net Sales of the Combination Product for such country will be calculated [***].

   
   

   
  If neither the Compound nor the Other Components are sold separately in a given country, then the Relative Commercial Value of the Compound shall
    be determined in accordance with Section 10.5.

   
   

   
  Company’s or any of its Affiliates’ transfer of any Product to an Affiliate shall not result in any Net Sales, unless such Product is consumed by such Affiliate in
    the course of its commercial activities.

   
   

   
  	

        	1.47	Non-Disclosure Agreement

   
  The term “Non-Disclosure Agreement” shall mean the non-disclosure agreement between F. Hoffmann-La Roche Ltd and Company effective July 8, 2020.

   
   

   
  	

        	1.48	Partner

   
  The term “Partner” shall mean a Third Party with which Company will enter or has entered a Partner Agreement.

   
   

   
  	

        	1.49	Partner Agreement

   
  The term “Partner Agreement” shall mean any agreement between Company and a Third Party granting rights to develop and commercialize one or more Compounds or one or
    more Products in the Field in the Territory or any portion thereof (including a sub-license or option to sublicense agreement with a Third Party regarding the rights granted hereunder to Company (e.g., an agreement under which payments for
    future or preferential rights are granted) or an assignment of this Agreement to a Third Party in whole or in part, subject to the other terms and conditions of this Agreement), but in all cases excluding: (a) any sub-contract entered into pursuant to
    Section 2.5 and (b) any Change of Control transaction. The term Partner Agreement shall include all amendments to such Partner Agreement.

   
   

   
  
    -8-

    
      
 

  

   

   
  	

        	1.50	Party

   
  The term “Party” shall mean Roche or Company, as the case may be, and “Parties” shall mean Company and Roche, collectively.

   
   

   
  	

        	1.51	Patent Rights

   
  The term “Patent Rights” shall mean all rights under any patent or patent application, certificate of inventions, application for certificate of invention or
    priority patent filing in any country of the Territory or under any international convention or treaty, including any patents issuing on such patent application, and further including any substitution, extension or supplementary protection certificate,
    reissue, re-examination, renewal, division, continuation or continuation-in-part of any of the foregoing.

   
   

   
  	

        	1.52	Phase III Study

   
  The term “Phase III Study” shall mean a human clinical trial that is prospectively designed to demonstrate statistically whether a product is safe and effective for
    use in humans in a manner sufficient to obtain Regulatory Approval to market such product in patients having the disease or condition being studied as described in 21 C.F.R. § 312.21(c) (FDCA), as amended from time to time, and the foreign equivalent
    thereof. For clarity, a human clinical trial that at the time of Initiation (or any later expansion of patient enrollment, if applicable) is expected to be the basis for Regulatory Approval of a Product shall be considered a Phase III Study.

   
   

   
  	

        	1.53	Product

   
  The term “Product” shall mean any product, including any Combination Product, containing a Compound as pharmaceutically active agent, regardless of their finished
    forms, formulations, modes of administration, presentations or dosages.

   
   

   
  	

        	1.54	Regulatory Approval

   
  The term “Regulatory Approval” shall mean any approvals, licenses, registrations or authorizations by a Regulatory Authority, in each case, necessary for the
    promotion or sale of a Product in the Field in a regulatory jurisdiction in the Territory, including, where applicable in the EU, reimbursement or pricing approvals in at least one of the Major EU Countries subject to such Regulatory Authority.

   
   

   
  	

        	1.55	Regulatory Authority

   
  The term “Regulatory Authority” shall mean any national, supranational (e.g., the European Commission, the Council of the European Union, the European
    Medicines Agency), regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity including the FDA, in each country involved in the granting of Regulatory Approval.

   
   

   
  	

        	1.56	Regulatory Exclusivity

   
  The term “Regulatory Exclusivity” means any exclusive marketing rights or data exclusivity rights conferred by any governmental authority under Applicable Law with
    respect to a Product in a country or jurisdiction in the Territory that prevent Third Parties from selling such Product in such country or jurisdiction, other than a Patent Right, including orphan drug exclusivity, pediatric exclusivity, rights
    conferred in the US under the FD&C Act, in the EU under Directive 2001/83/EC, or rights similar thereto in other countries or regulatory jurisdictions in the Territory.

   
   

   
  
    -9-

    
      
 

  

   

   
  	

        	1.57	Roche Know-How

   
  The term “Roche Know-How” shall mean the Know-How contained in the documents listed in Appendix 1.57 of this Agreement, and any Know-How transferred to Company
    pursuant to Section 4.4 or 4.5.

   
   

   
  	

        	1.58	Roche Patent Rights

   
  The term “Roche Patent Rights” shall mean the Patent Rights listed in Appendix 1.58.

   
   

   
  	

        	1.59	Royalty Term

   
  The term “Royalty Term” shall mean, with respect to a Product and for a given country, the period of time commencing on the date of First Commercial Sale of such
    Product in such country and ending on the later of the date that is (a) twelve (12) years after the date of the First Commercial Sale of such Product in such country, (b) the expiration of the last to expire Valid Claim within the Roche Patent Rights
    or Joint Patent Rights in such country Covering the use, manufacture, import, offering for sale, or sale of the Product in the manufacturing or selling country, or (c) expiration of the last to expire Regulatory Exclusivity conferred by the applicable
    Regulatory Authority in such country for such Product.

   
   

   
  	

        	1.60	Strategic Transaction

   
  The term “Strategic Transaction” shall mean, with respect to Company, (i) any Change of Control of Company, or (ii) the execution of a Partner Agreement.

   
   

   
  	

        	1.61	Sublicensees

   
  The term “Sublicensees” shall mean any Third Party to which Company has sublicensed rights granted Company under this Agreement, but shall exclude any subcontractor
    described in Section 2.5.

   
   

   
  	

        	1.62	Territory

   
  The term “Territory” shall mean all countries of the world.

   
   

   
  	

        	1.63	Third Party

   
  The term “Third Party” shall mean a person or entity other than (i) Company or any of its Affiliates or (ii) Roche or any of its Affiliates.

   
   

   
  	

        	1.64	US

   
  The term “US” shall mean the United States of America and its territories and possessions.

   
   

   
  	

        	1.65	US$

   
  The term “US$” shall mean US dollars.

   
   

   
  	

        	1.66	Valid Claim

   
  The term “Valid Claim” shall mean a claim contained in any (i) unexpired, in force and issued Roche Patent Right or Joint Patent Right that has not been disclaimed,
    revoked or held invalid by a final non-appealable decision of a court of competent jurisdiction or government agency or (ii) pending application that is included in the Roche Patent Rights in any country of the Territory that has been pending for fewer
    than [***] from the earliest date to which such application claims priority.

   
   

   
  
    -10-

    
      
 

  

   

   
  	

        	1.67	Additional Definitions

   
  Each of the following definitions is set forth in the Section of this Agreement indicated below:

   
   

   
  	Definition	Section
	Accounting Period	11.1
	Additional Assets	10.10.3
	Alliance Manager	4.1
	Bankruptcy Code	20
	Breaching Party	19.2.1
	CMC	1.19
	Company Indemnitees	16.1
	Company Invention	1.38
	Company Notice	3.1
	Decision Period	14.7
	Definitive Agreement	3.3
	Disclosing Party	1.15
	Escalation Notice	21.4
	Exclusive Right of First Negotiation	3.1
	Expert Committee	10.6
	GMP Materials	4.3
	Governing Law	21.3
	H-W Suit Notice	14.12
	Indemnified Losses	16.1
	Indemnifying Party	16.3
	Initiating Party	14.7
	Joint Invention	1.38
	Major Market Agreement	3.1
	Negotiation Period	3.3
	Non-Breaching Party	19.2.1
	Other Component	1.9
	Patent Term Extensions	14.13
	Payment Currency	11.3
	Peremptory Notice Period	19.2.1
	Publishing Notice	18.4
	Receiving Party	1.15
	Register	14.7
	Relative Commercial Value	10.5
	Respective Major Market(s)	3.3
	Review Notice	3.2
	Review Period	3.2
	Roche Indemnitees	16.2
	Roche Invention	1.38
	ROFN Exercise Notice	3.2
	ROFN Window	3.1
	Settlement	14.7
	SPCs	14.13
	Strategic Transaction Revenues	10.10.1
	Suit Notice	14.9
	Term Sheet	3.3
	Transfer	4.4
	Transition Period	19.6

   
   

   
  
    -11-

    
      
 

  

   

   
  	

        	2.	Grant of License

   
   

   
  	

        	2.1	Exclusive License

   
  Roche hereby grants to Company an exclusive (subject to Section 2.6 below, even as to Roche), sublicensable (subject to Sections 2.4 and 2.5 and Article 3) worldwide
    right and license under Roche Patent Rights, Roche Know-How and Roche’s interest in Joint Patent Rights and Joint Know-How, to research, have researched, develop, have developed, register, have registered, use, have used, make, have made, import, have
    imported, export, have exported, market, have marketed, distribute, have distributed, offer for sale, have offered for sale, sell and have sold Compounds and Products in the Field in the Territory. No license is granted by Roche to Company for any
    other purpose; Company shall not use Roche Know-How other than for the licensed activities; and, Roche retains the right to use Roche Know-How, including data contained therein, for all other purposes.

   
   

   
  	

        	2.2	Non-exclusive License

   
  Company hereby grants to Roche a non-exclusive, perpetual, worldwide, royalty-free license under Company Patent Rights and Company Know-How, in each case, solely to
    the extent such Company Patent Rights or Company Know-How are necessary or useful to exploit Compounds and Products outside the Field in the Territory, to research, have researched, develop, have developed, register, have registered, use, have used,
    make, have made, import, have imported, export, have exported, market, have marketed, distribute, have distributed, offer for sale, have offered for sale, sell and have sold Compound and Products outside the Field in the Territory.

   
   

   
  	

        	2.3	Right to Sublicense

   
  Company shall have the right to grant written sublicenses under its rights granted under Section 2.1 (a) to its Affiliates or (b) to Third Parties with Roche’s prior
    written consent in accordance with Section 2.4. If Company grants such a sublicense, then Company shall ensure that all terms and conditions of this Agreement that are applicable to a sublicensee shall apply to all such Affiliates or Third Parties to
    the same extent as they apply to Company for all purposes. Company assumes full responsibility for the performance of all obligations and observance of all terms so imposed on such Affiliates or Third Parties and shall itself account to Roche for all
    payments due under this Agreement by reason of such sublicense. Subject to the rest of this Section 2.3, Company may fulfill any of its obligations or responsibilities under this Agreement through Affiliates that have been sublicensed under this
    Agreement or Sublicensees.

   
   

   
  	

        	2.4	Right to enter into Partner Agreements

   
  Subject to Roche’s rights under Article 3, Company shall have the right to enter into a Partner Agreement with one (1) or more Partners under its rights granted
    under Section 2.1. Company will be responsible for managing the entire process with the Partner including scientific due diligence and negotiations.

   
   

   
  If Company grants such rights to the Partner(s), then Company shall ensure that the Partner(s) comply with all of the applicable terms and conditions of this
    Agreement to the same extent as they apply to Company for all applicable purposes. Company shall remain liable to Roche for the performance of all obligations and observance of all terms so imposed on a Partner under such Partner Agreement(s) and shall
    itself account to Roche for all payments due under this Agreement.

   
   

   
  
    -12-

    
      
 

  

   

   
  Prior to entering into a Partner Agreement, Company shall provide Roche with notice of the identity of the proposed partner and the type of transaction contemplated
    (e.g., sale of Company, sale of the Compounds and Products or sublicense, including the territories that are to be sublicensed). Following execution of a Partner Agreement, Company will provide Roche with such Partner Agreement, which may be redacted
    with respect to any terms not necessary for Roche to ensure compliance with the terms of this Agreement. Any sublicense of the rights granted hereunder to be included in a Partner Agreement shall be subject to Roche’s prior written approval of the
    Partner, such approval not to be unreasonably withheld, conditioned or delayed; provided that Roche shall not withhold, condition or delay its approval unless Roche reasonably believes that the potential Partner (a) does not have substantially
    similar compliance standards as Company or (b) does not have, and is not reasonably likely to obtain, the financial means or the capabilities to perform the obligations under this Agreement to the same extent as Company. If Roche withholds, conditions
    or delays its approval, then Roche shall provide the reasoning of such withholding, conditioning or delay of approval to Company. If, after good faith negotiations [***], the Parties cannot settle any dispute as to whether Roche has unreasonably
    withheld, conditioned or delayed its approval of the Partner or the terms of the Partner Agreement, then the dispute shall be initially referred to the executive officers of the Parties in accordance with Section 21.4. Should the Parties’ executive
    officers fail to agree [***], then, notwithstanding Section 21.5, the dispute shall be settled by arbitration under the procedures of Sections 21.5-21.7.

   
   

   
  Any Partner Agreement shall include the right to disclose a redacted copy of the Partner Agreement and the Partner’s confidential information to Roche as necessary
    for Roche to ensure compliance with the terms of this Agreement.

   
   

   
  The Partners of Company shall have the right to further sub-license rights to their Affiliates as provided in Section 2.3, and to sub-license rights to develop and
    commercialize the Compounds or Products to a Third Party with Roche’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed, in accordance with the terms of and process described in this Section 2.4 (applied mutatis

      mutandis to such further sub-license in place of a Partner Agreement).

   
   

   
  As a general principle, a Partner Agreement shall not be structured with the intent to avoid payments to Roche otherwise due to Roche under this Agreement.

   
   

   
  For example: Company shall not enter into a Partner Agreement that allocates certain payments to a product other than a Product, where such payments are
    materially inconsistent with the relative values of the Product and such other product and the rights granted with respect to each such product, for the purpose of avoiding payments to Roche under this Agreement.

   
   

   
  	

        	2.5	Sub-Contractors

   
  Company, together with its Affiliates that have been sublicensed under this Agreement and Sublicensees, has the right, without the consent of Roche, to sub-contract
    work performed under this Agreement, which right shall include the right to grant a sublicense of the rights granted hereunder to the extent necessary for such subcontractor to fulfill its obligations in compliance with this Agreement. Any sub-contract
    agreement shall include the right to disclose (i) a copy of such sub-contract agreement and confidential information disclosed thereunder (which will be Company’s Confidential Information hereunder) to Roche and (ii) the right to assign the agreement
    to Roche upon Roche’s having obtained rights to the Compound and Product either as a result of the exercise of its Right of First Negotiation pursuant to Article 3 or upon termination of this Agreement, including the right to transfer of the ownership
    of data, information and results arising therefrom to Roche to the same extent as to Company.

   
   

   
  
    -13-

    
      
 

  

   

   
  	

        	2.6	Retained Rights

   
  Notwithstanding anything in this Agreement, Roche shall retain the right to use the Compounds and Roche Know-How for internal non-clinical research purposes (e.g.,
    as a reference model) alone or in collaboration with a Third Party for Compound data mining purposes; provided, however that Roche shall not disclose to any Third Party or publish or present any results of such research, in each case,
    pertaining specifically to any Compound except where a Compound is mentioned as part of a general discussion, without Company’s prior written consent (not to be unreasonably withheld, conditioned or delayed).

   
   

   
  	

        	3.	Right of First Negotiation

   
   

   
  	

        	3.1	Roche Exclusive Right of First Negotiation

   
  Roche shall have an exclusive right to negotiate a license or a purchase of all Compounds and Products as set forth in this Article 3 (“Exclusive Right of First
      Negotiation”). If Company (i)(a) within [***] from the Effective Date or (b) until the Completion of the first Phase III Study of a Product, whichever is later, intends to enter into a Partner Agreement granting rights in the US, China or one or
    more Major EU Countries (a “Major Market Agreement”), [***] shall promptly inform Roche in writing of such intention, in each situation prior to exchanging a term sheet (the “Company Notice”).

   
   

   
  	

        	3.2	Due Diligence

   
   

   
  [***]

   
   

   
  If Company intends to enter into a Major Market Agreement, then Roche shall have the right to exercise its rights hereunder for the respective country, region or
    entire Territory, as the case may be. Notwithstanding anything contrary herein, if Company intends to enter into a Partner Agreement granting rights in any of the Major EU Countries, then Roche shall have the right to exercise its rights hereunder for
    the entire EU. If the ROFN Exercise Notice indicates that Roche is not interested in exercising its rights or Roche does not provide an Exercise Notice before the end of the Review Period, then Roche shall be deemed to have waived its rights as to the
    countries or regions that are the subject of the Company Notice, and Company shall have, subject to the terms set forth herein, the right to enter into the Major Market Agreement with a Third Party.

   
   

   
  	

        	3.3	Negotiation Process

   
  This Section 3.3 will apply if Company notifies Roche in the Company Notice that it intends (a) to enter into a Major Market Agreement or (b) [***].

   
   

   
  If Company intends to enter into a Partner Agreement, then the Parties will negotiate in good faith the terms and conditions under which Company would grant to Roche
    the rights to Compounds and Products with regard to the respective countries, regions or in the entire Territory (as applicable, the “Respective Major Market(s)”), and the terms and conditions under which the following would occur:

   
   

   
  (i)            all rights and licenses granted by Roche to Company under this Agreement would terminate
    with regard to the Respective Major Market(s) and Company would return all such rights and licenses to Roche, except for the license to Company to use, have used, make, have made, import and export Compounds and Products in the Respective Major
    Market(s) solely for the purpose of seeking Regulatory Approval for and commercializing Compounds and Products outside of the Respective Major Market(s); and

   
   

   
  
    -14-

    
      
 

  

   

   
  (ii)           Company would grant to Roche an exclusive (even as to Company), sub-licensable license
    under the Company Patent Rights and Company Know-How in the Respective Major Market(s) to develop, have developed, make, have made, use, have used, manufacture, have manufactured, import, have imported, offer for sale and have offered for sale, sell
    and have sold Compounds and Products in the Field in the Respective Major Market(s), except that Company would retain the right under the Company Patent Rights and Company Know-How to use, have used, make, have made, import and export Compounds and
    Products in the Respective Major Market(s) solely for the purpose of seeking Regulatory Approval for and commercializing Compounds and Products outside of the Respective Major Market(s).

   
   

   
  [***].

   
   

   
  Together with the ROFN Exercise Notice, Roche shall provide Company a written offer for the terms and conditions upon which Company would revert back to Roche the
    rights to the Compounds and Products with regard to the Respective Major Market(s) or Roche would acquire Company, as applicable. Such offer shall have the form of a draft term sheet. After Company’s receipt of the first draft term sheet the Parties
    shall have up to [***] to exclusively and in good faith negotiate the terms and conditions of a final term sheet (the “Term Sheet”).

   
   

   
  Upon finalization of the Term Sheet, the Parties shall have a further period of up to [***] to exclusively and in good faith negotiate and finalize the respective
    definitive agreement(s) (the “Definitive Agreement”).

   
   

   
  The term “Negotiation Period” shall mean the period of time commencing on the date of Roche’s ROFN Exercise Notice and ending either (1) [***] after such ROFN
    Exercise Notice in the case where the Parties fail to execute an agreed upon Term Sheet during such period; or (2) [***] after execution of an agreed upon Term Sheet if the Parties fail to enter into the Definitive Agreement within such [***] period.

   
   

   
  If (A) Roche declines to access the Data Room during the Review Period, (B) Roche during the Negotiation Period confirms in writing to Company that it is not
    interested in having the rights to the Compounds and the Products revert back to it as described above in this Section 3.3 or to acquire Company or (C) the Parties, after good faith discussions during the relevant part of the Negotiation Period, cannot
    agree on the Term Sheet or fail to enter into the Definitive Agreement, then Company shall be free [***] or (y) enter into a Partner Agreement with a Third Party with regard to the Respective Major Market(s) (but subject to Roche’s prior consent as
    provided in Section 2.4), subject to the last sentence of this Section 3.3.

   
   

   
  Notwithstanding the foregoing, if the Parties have failed to agree on a Term Sheet or the Definitive Agreement during the applicable Negotiation Period, then Company
    shall be free to start negotiations and enter into a Partner Agreement with respect to the Respective Major Market(s) [***], provided that during the [***] period after the end of the applicable Negotiation Period with Roche, Company shall not
    enter into a Partner Agreement with regard to the Respective Major Market(s) [***].

   
   

   
  If Company does not enter into a Partner Agreement for the Respective Major Market(s) [***], in each case, during the [***] period after the end of the applicable
    Negotiation Period with Roche, but continues the development and commercialization of the Compounds and Products with regard to the Respective Major Market(s), then this Section 3.3 shall apply mutatis mutandis, if Company after such [***]
    period intends again to enter into a Major Market Agreement with regard to the same country(ies) [***].

   
   

   
  
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        	4.	Alliance Managers and Technology Transfer

   
   

   
  	

        	4.1	Alliance Managers

   
  Each Party shall designate an “Alliance Manager” [***] after the Effective Date. The Alliance Managers shall facilitate the transfer to Company of the Roche
    Know-How and GMP Materials and communication between the Parties and are the primary points of contact between the Parties with respect to all matters arising under this Agreement, including informational requests from Company to Roche during the
    Agreement Term. Each Party may change its Alliance Manager from time to time in its sole discretion upon written notice to the other Party.

   
   

   
  	

        	4.2	Roche Know-How Transfer

   
  Promptly, but not later [***] after the Effective Date, Roche shall transfer to Company the Roche Know-How at no additional cost to Company. Such Roche Know-How
    transfer shall occur electronically promptly after the Effective Date by granting Company download rights to the electronic database for a period of [***] from first date such access is made available to Company.

   
   

   
  Roche shall provide written or verbal answers to reasonable questions (e.g., after accessing and re-assessing the data provided by Roche in the data room,
    questions that cannot be answered, or open items that cannot be resolved) relating to the Compounds or Products. Such efforts are limited to a maximum of [***] of Roche personnel free of charge and provided that Roche still has access to
    personnel with relevant expertise. Subject to availability of such expertise, if Company desires any additional assistance beyond the [***], then Company may request such additional assistance from Roche, and Roche shall use reasonable efforts to
    provide any such additional assistance to Company. Such additional assistance shall be reimbursed to Roche at Roche’s standard commercial rate applicable at that time. Such obligation by Roche under this Section 4.2 shall not exceed [***] commencing on
    the Effective Date.

   
   

   
  	

        	4.3	Roche Material Transfer

   
  Promptly, but no later [***] after the Effective Date, Company will inform Roche of the shipping address to which the GMP Materials shall be transferred. Upon such
    confirmation of address and ability to receive the GMP Materials, Roche shall [***] transfer to the Company in [***] related to the Products that was manufactured under GMP conditions (“GMP Materials”), whether or not currently qualified, that
    is in its or its Affiliates’ possession at the Effective Date, together with all existing certificates of analyses and release documentation therefor. A listing of the GMP Materials to be transferred by Roche to Company and used solely for non-clinical
    or clinical development, is provided in Appendix 4.3. Roche shall have no obligation to retest or certify any GMP Materials and PROVIDES SUCH GMP MATERIALS WITHOUT ANY WARRANTY WHATSOEVER. Company shall pay to Roche [***] upon delivery of the GMP
    Materials. Company shall be solely responsible for and pay all transfer or shipment related costs, e.g., direct shipment cost, import or value-added tax, etc.

   
   

   
  	

        	4.4	Regulatory Filings

   
  Roche shall take such actions as reasonably necessary to transfer copies and ownership of (i) any IND related to the Product and (ii) all other filings and
    correspondence with or to and from any Regulatory Authority with respect to the Compounds or Products ((i) and (ii) collectively, the “Transfer”), and shall take such actions as may be necessary to inform Regulatory Authorities of this Transfer.
    For the avoidance of doubt, Company shall be obligated to accept the Transfer of any such IND immediately after receiving the respective written notice from a Regulatory Authority. Company and Roche shall determine the effective date of the Transfer
    and coordinate the notification of such Transfer to the Regulatory Authority. All of the activities contemplated by this Section 4.4 shall be conducted by Roche at no cost to Company.

   
   

   
  
    -16-

    
      
 

  

   

   
  Roche hereby grants to Company, its Affiliates that have been sublicensed under this Agreement and Sublicensees, at no additional cost to Company, a right of
    reference to all regulatory submissions filed by Roche or its Affiliates in the Territory related to the Compound or any Product, including the manufacture thereof, for the purpose of seeking, obtaining and maintaining Regulatory Approvals for, and the
    manufacture and commercialization of, Products in the Field in the Territory. Roche shall take all actions reasonably requested by Company to enable Company, its Affiliates that have been sublicensed under this Agreement and Sublicensees to exercise
    such right of reference.

   
   

   
  Roche shall transfer to Company all relevant historical clinical and non-clinical data (including safety information on serious adverse events, which shall be
    provided in CIOMS format and safety information on non-serious adverse events, which shall be provided in English Line Listing format unless both Parties agree to an alternative agreeable format) at no additional charge to Company [***] after Company
    confirms the location to where the data shall be transferred. Clinical and non-clinical data that are easily retrievable will be transferred no later [***] after both parties have mutually agreed upon the format and the location for the clinical data
    to be transferred.

   
   

   
  	

        	4.5	No Further Obligations

   
  Roche shall have no obligation to transfer any Know-How, materials, regulatory filings or to provide technical support other than expressly stated in this Article 4;
    provided, however, that if Roche discovers after the Effective Date that any Know-How, material or regulatory filing that is Controlled by Roche or its Affiliates, which is readily accessible and is material and necessary to the exercise
    of the rights granted to Company under this Agreement has not been transferred to Company, then Roche will use reasonable efforts to transfer such Know-How, material or regulatory filing to Company, subject to [***] limit on additional assistance as
    set forth in Section 4.2 or such additional assistance being reimbursed by Company to Roche at Roche’s standard commercial rate applicable at that time.

   
   

   
  	

        	5.	Diligence

   
  Company shall use [***] to develop, seek Regulatory Approval, and, on a country-by-country basis where Regulatory Approval has been obtained, commercialize at least
    [***] in the Field in each such country of the Territory.

   
   

   
  	

        	6.	Development

   
   

   
  	

        	6.1	Responsibility

   
  Company shall be solely and exclusively responsible at its own expense for the non-clinical and clinical development of the Product in the Field in the Territory.

   
   

   
  	

        	6.2	Development Plan

   
  Company will conduct the development of the Compounds and Products in the Field in the Territory in accordance with a written plan (“Development Plan”).
    Company shall send to Roche the Development Plan promptly after its finalization and within [***] after the Effective Date, and thereafter Company shall annually send to Roche a then-current version of the Development Plan at the end of December of
    each Calendar Year for so long as there is a Product in development by Company, or more often as Company may determine to amend the Development Plan.

   
   

   
  
    -17-

    
      
 

  

   

   
  	

        	6.3	Reporting

   
  Until the First Commercial Sale of a Product, Company shall submit to Roche together with the Development Plan, an annual report describing the development progress
    of the Products by Company, its Affiliates and Sublicensees, including an update of key regulatory activities for the Products in the US, Major EU Countries, Japan and China. Company shall send such annual report at the end of December of each Calendar
    Year until the First Commercial Sale of a Product.

   
   

   
  	

        	7.	Supply

   
   

   
  	

        	7.1	Clinical and Non-Clinical Supply of Product

   
  Company shall be solely and exclusively responsible at its own expense for the manufacture and supply of clinical and non-clinical supplies of the Product, either by
    itself, or through a Third Party.

   
   

   
  	

        	7.2	Commercial Supply of Product

   
  Company shall be solely and exclusively responsible at its own expense for the commercial manufacture and commercial supply of Product for sale in the Territory,
    either by itself, or through a Third Party.

   
   

   
  	

        	8.	Regulatory

   
   

   
  	

        	8.1	Responsibility

   
  Except as provided in Section 4.4, Company shall be solely and exclusively responsible at its own expense for all regulatory affairs related to Products in the Field
    in the Territory, including the preparation, filing and maintaining of applications for Regulatory Approval, as well as any or all Regulatory Approvals required to develop, have developed, make, have made, use, have used, import, have imported, sell
    and have sold Compounds and Products. Company shall be solely and exclusively responsible for pursuing, compiling and submitting all regulatory filing documentation, and for interacting with regulatory agencies, for Compounds and Products in all
    countries in the Territory. Company shall own and file in its own discretion all regulatory filings and Regulatory Approvals for the Compound and Product in all countries of the Territory.

   
   

   
  	

        	8.2	Informed Consent Forms

   
  Any Informed Consent forms with study subjects under any clinical study run by or on behalf of Company or any of its Partners containing the Product shall include
    the right to transfer samples, data and information from such study to Roche in the event the Agreement is terminated or rights otherwise revert to Roche.

   
   

   
  	

        	8.3	Pharmacovigilance Agreement

   
  The Parties do not as of the Effective Date believe that a Pharmacovigilance Agreement will be necessary, but if the Parties agree after the Effective Date of this
    Agreement that such agreement is applicable, Company and Roche shall negotiate in good faith and enter into a Pharmacovigilance Agreement in accordance with all Applicable Laws which sets forth, among other things, the responsibilities and obligations
    of the Parties with respect to the procedures and timeframes for compliance with all Applicable Laws (and each of the Party’s policies) pertaining to safety reporting and their related activities, with respect to the Products under this Agreement.

   
   

   
  	

        	9.	Commercialization

   
   

   
  	

        	9.1	Responsibility

   
  Company shall be solely and exclusively responsible at its own expense, for the marketing, promotion, sale and distribution of the Products in the Territory.

   
   

   
  
    -18-

    
      
 

  

   

   
  	

        	9.2	Reporting and Updates

   
  After the First Commercial Sale of a Product and until the expiry of the Agreement Term, Company shall inform Roche in an annual report summarizing the material
    commercialization activities undertaken for the Products in the Field in the Territory by Company, its Affiliates and Sublicensees in the preceding year. The first such annual report shall be provided on the first anniversary of the First Commercial
    Sale of the first Product. Each subsequent annual report shall be provided on subsequent anniversaries of the First Commercial Sale. In addition, upon the reasonable request of Roche not more than twice per Calendar Year, Company shall provide an
    update, in writing or through a meeting (face to face/ tele-presence/videoconference or telephone).

   
   

   
  	

        	10.	Payment

   
   

   
  	

        	10.1	Upfront Payment

   
  Within [***] after the Effective Date, Company shall pay to Roche four million US dollars (US$4,000,000). The upfront payment of four million five hundred thousand
    US dollars (US$4,500,000) comprises the sum of (a) the payment of four million US dollars (US$4,000,000) mandated in the first sentence of this Section 10.1 and (b) the credit of five hundred thousand US dollars (US$500,000) carried over from the
    Exclusivity Agreement. These payments shall be non- refundable.

   
   

   
  	

        	10.2	Development Event Payments

   
  Company shall pay to Roche up to a total of eighty-five million US dollars (US$85,000,000) in relation to the first achievement of each of the development events set
    forth below in this Section 10.2 with respect to the first Product that achieves such events. The development event payments under this Section 10.2 shall be paid by Company according to the following schedule of development events and shall be
    non-refundable.

   
   

   
  	Development Event	1st Indication	2nd
            Indication
	US Dollars (in millions)
	[***]	[***]	[***]

   
   

   
  Each development event payment shall be paid only once the first time a Product reaches the applicable triggering event, regardless of the number of times such
    events are reached by a Product.

   
   

   
  If a given Product does not undergo a Phase III Study but instead receives a Regulatory Approval, then the Initiation of Phase III Study event payment shall be paid
    when such Product first receives Regulatory Approval. Moreover, for clarity, if an Indication is pursued and then terminated, then the next Indication shall be considered the 1st
    Indication for development events subsequent to any development events that have already been achieved with respect to the 1st Indication such that Company shall not be
    required to repay any previously achieved development event payments with respect to such Indication.

   
   

   
  Moreover, for clarity, if an Indication is pursued and then terminated, then the next Indication shall be considered the 1st Indication for development events subsequent to any development events that have already been achieved with respect to the 1st
    Indication such that Company shall pay future development event payments at the 1st Indication rate regardless of whether the Initiation of the first Phase III Study
    development event payment was made at the 2nd Indication rate since the 2nd Indication
    would become the 1st Indication subsequent to the Initiation of the first Phase III Study development event. The next Indication thereafter would be the 2nd Indication and payment would begin with the Regulatory Approval in the US, Regulatory Approval in the EU or Regulatory Approval in the first of China or Japan development
    event payment, as applicable, since the Initiation of first Phase III Study development event payment for the 2nd Indication would have already been paid.

   
   

   
  
    -19-

    
      
 

  

   

   
  Upon reaching a development event, Company shall timely notify Roche and the applicable development event payment shall be paid by Company to Roche [***] from
    receipt of an invoice from Roche following occurrence of the applicable event.

   
   

   
  	

        	10.3	Sales Based Events

   
  Company shall pay to Roche up to a total of one hundred twenty million US dollars (US$120,000,000) based on the first achievement aggregate Calendar Year Net Sales
    of Product(s) in the Territory, as set forth below:

   
   

   
  	Net Sales Threshold	US Dollars (in millions)
	Total Calendar Year Net Sales in the Territory of

          Product(s) exceed [***]	[***]
	Total Calendar Year Net Sales in the Territory of

          Product(s) [***]	[***]
	Total Calendar Year Net Sales in the Territory of

          Product(s) [***]	[***]
	Total Calendar Year Net Sales in the Territory of

          Product(s) [***]	[***]
	TOTAL	[***]

   
   

   
  Each of the sales based event payments shall be paid no more than once during the Agreement Term, at first occurrence of the event for aggregate Net Sales of all
    Products in the Territory first reaching the respective Net Sales threshold, and shall be non-refundable and non-creditable. Upon reaching sales based events, Company shall notify Roche timely (but in no event longer than [***] after the event occurs)
    and sales based events payments shall be paid by Company to Roche within [***] after the end of the Calendar Year in which the applicable Net Sales threshold was achieved.

   
   

   
  	

        	10.4	Royalty Payments

   
   

   
  	

        	10.4.1	Royalty Term

   
  Royalties shall be payable by Company on Net Sales of Products on a Product-by-Product and country-by-country basis until the expiry of the Royalty Term for the
    applicable Product in the applicable country. Thereafter, the licenses with respect to such Product in such country shall be fully paid up and non-exclusive.

   
   

   
  	

        	10.4.2	Royalty Rates

   
  Subject to Section 10.11, the following royalty rates shall apply to the respective tiers of aggregate Calendar Year Net Sales of all Product(s) in the Territory, on
    an incremental basis, as follows:

   
   

   
  	Tier of Calendar Year Net Sales in million US$	Percent (%) of Net Sales
	[***]	[***]

   
   

   
  
    -20-

    
      
 

  

   

   
  For example, if Net Sales of Product(s) in the Territory, for a given Calendar Year, are [***], then royalties owed to Roche on such Net Sales of Product(s) for that
    Calendar Year shall equal [***] calculated as follows: [***]

   
   

   
  	

        	10.5	Combination Product

   
  If neither the Compound nor the Other Components in a particular Combination Product are sold separately in a given country, then the Parties will negotiate in good
    faith and agree to an appropriate adjustment to Net Sales in such country that takes into account the medical contribution to the Combination Product of, and all other factors reasonably relevant to the relative commercial value of, the Compound, on
    the one hand, and all of the Other Components collectively, on the other hand (the “Relative Commercial Value”). If, after such good faith negotiations not to exceed [***], the Parties cannot agree to an appropriate adjustment, then the dispute
    shall be initially referred to the executive officers of the Parties in accordance with Section Article 121.4. Should the Parties fail to agree within [***] of such referral, the Relative Commercial Value shall be determined by an Expert Committee
    under the procedures of Section 10.6.

   
   

   
  	

        	10.6	Expert Committee

   
  If the Parties are unable to agree on the Relative Commercial Value under Section 10.5, then Roche will select one (1) individual who would qualify as an Expert,
    Company will select (1) individual who would qualify as an Expert, and those two (2) individuals shall select one (1) individual who would qualify as an Expert and who shall be chairman of a committee of the three Experts (the “Expert Committee”),

    each with a single deciding vote. The Expert Committee will promptly hold a meeting to review the issue under review, at which it will consider memoranda submitted by each Party at least [***] before the meeting, as well as reasonable presentations
    that each Party may present at the meeting. The determination of the Expert Committee as to the issue under review will be binding on both Parties. The Parties will share equally in the costs of the Expert Committee. The Expert Committee may not decide
    on issues outside the scope mandated under terms of this Agreement.

   
   

   
  	

        	10.7	No Valid Claim

   
  If, for a given Product in a given country within the Territory, no Valid Claim Covers such Product in such country, then the royalty payments for such country shall
    be reduced by [***].

   
   

   
  	

        	10.8	Generic Product

   
  If, for a given Product, after the entry of one or more Generic Products in a country, (i) in any Calendar Quarter at any time after entry of such Generic Product(s)
    there has been a decline of the Net Sales of the applicable Product in such country greater [***] of the level of the Net Sales of such Product achieved on average of the four (4) Calendar Quarters immediately prior to such entry and (ii) at such time
    there is no Valid Claim that Covers such Product in such country, then the royalty payments due to Roche for such Product in such country shall be reduced by [***].

   
   

   
  	

        	10.9	Third Party Payments

   
  Company shall be solely responsible for and pay or have paid the entire consideration owed to any Third Party in relation to Third Party intellectual property rights
    necessary or useful to make, use or sell Compounds and Products with no right to offset.

   
   

   
  
    -21-

    
      
 

  

   

   
  	

        	10.10	Strategic Transaction

   
   

   
  [***]

   
   

   
  	

        	10.11	IPO

   
  Subject to the terms of this Section 10.11 and any approvals, notices or filings required under Applicable Law, if the Company completes an IPO during the Agreement
    Term, then Roche or its Affiliate(s) (“Roche Equityholder”) will be issued a number of shares of the Company’s capital stock (or the common stock of any successor to the Company in the IPO) equal to [***] of the outstanding shares of common
    stock of the Company (or such successor) as of immediately after the completion of the IPO (the “Roche Shares”). [***].

   
   

   
  In connection with Company’s issuance of Roche Shares to Roche Equityholder, Roche shall cause Roche Equityholder to enter into a customary stock subscription
    agreement in the form provided to Roche by Company.

   
   

   
  In addition, Roche will not, and will cause Roche Equityholder not to, without the prior written consent of the managing underwriter, during the period commencing on
    the date of the final prospectus relating to the registration by Company of shares of its equity for the IPO, and ending on the date specified by Company and the managing underwriter (such period not to [***] in the case of the IPO, or such other
    period as may be requested by Company or an underwriter to accommodate applicable regulatory restrictions, (a) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any
    option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of common stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for common stock held immediately
    before the effective date of the registration statement for such offering or issued pursuant to this Section 10.11 or (a) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
    ownership of such securities, in each case, whether any such transaction described in clause (i) or (ii) is to be settled by delivery of common stock or other securities, in cash, or otherwise. The foregoing provisions of this Section 10.11. The
    underwriters in connection with such registration are intended third-party beneficiaries of this Section 10.11 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Roche further agrees to
    cause Roche Equityholder to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 10.11 or that are necessary to give further effect thereto.

   
   

   
  	

        	11.	Accounting and Reporting

   
   

   
  	

        	11.1	Timing of Payments

   
  Company shall calculate royalties on Net Sales quarterly as of March 31, June 30, September 30 and December 31 (each being the last day of an “Accounting Period”)

    and shall pay royalties on Net Sales within [***] after the end of each Accounting Period in which such Net Sales occur.

   
   

   
  	

        	11.2	Late Payment

   
  Any payment under this Agreement that is not paid on or before the date such payment is due shall bear interest, to the extent permitted by Applicable Law, at [***]
    above the average one-month Euro Interbank Offered Rate (EURIBOR), as reported by Reuters from time to time, calculated on the number of days such payment is overdue.

   
   

   
  
    -22-

    
      
 

  

   

   
  	

        	11.3	Method of Payment

   
  Royalties on Net Sales and all other amounts payable by Company hereunder shall be paid by Company in US Dollars (the “Payment Currency”) to account(s)
    designated by Roche.

   
   

   
  	

        	11.4	Currency Conversion

   
  When calculating the Net Sales of any royalty-bearing Product that occur in currencies other than the Payment Currency, Company shall convert the amount of such
    sales in local currency (the “Reporting Currency”) into the Payment Currency using Company’s then-current internal foreign currency translation actually used on a consistent basis in preparing its audited financial statements.

   
   

   
  	

        	11.5	Reporting

   
  (1)          With each payment pursuant to Section 10.4, Company shall provide Roche in writing for the
    relevant Calendar Quarter on a Product-by-Product basis the following information:

   
   

   
  (i)           Invoice sales in Reporting Currency on a country-by-country basis; 

   
  (ii)          Net Sales in Reporting Currency on a country-by-country basis; 

   
  (iii)          adjustments made pursuant to Sections 10.5 and 10.6 on a country-by-country basis; 

   
  (iv)          Net Sales in Reporting Currency after adjustments made pursuant to Sections 10.5 and 10.6 in
    Reporting Currency; 

   
  (v)           royalty rate pursuant to Section 10.4.2 and adjustments made pursuant to Sections 10.7 - 10.9
    on a country-by-country basis; and (vi) total royalty payable in the Payment Currency. 

   
   

   
  (2)          With each payment pursuant to Section 10.10, Company shall provide Roche in writing for the
    relevant Calendar Quarter the amount of any transaction costs, if applicable, and the following information: 

   
   

   
  (i)           Net Proceeds in local currency and Payment Currency; 

   
  (ii)          previously received Net Proceeds in Payment Currency; 

   
  (iii)          aggregate Net Proceeds received in Payment Currency; 

   
  (iv)          total Strategic Transaction Revenues in Payment Currency; 

   
  (v)           Strategic Transaction Revenues that have been paid in Payment Currency; and 

   
  (vi)          Strategic Transaction Revenues payable in Payment Currency.

   
   

   
  	

        	12.	Taxes

   
  Roche shall pay all sales, turnover, income, revenue, value added, and other taxes levied on account of any payments accruing or made to Roche under this Agreement.
    If provision is made in law or regulation of any country for withholding of taxes of any type, levies or other charges with respect to any royalty or other amounts payable under this Agreement to Roche, then Company shall promptly pay such tax, levy or
    charge for and on behalf of Roche to the proper governmental authority, and shall promptly furnish Roche with receipt of payment. Company shall be entitled to deduct any such tax, levy or charge actually paid from royalty or other payment due to Roche
    or be promptly reimbursed by Roche if no further payments are due to Roche. Each Party agrees to reasonably assist the other Party in claiming exemption from such deductions or withholdings under double taxation or similar agreement or treaty from time
    to time in force and in minimizing the amount required to be so withheld or deducted.

   
   

   
  
    -23-

    
      
 

  

   

   
  	

        	13.	Auditing

   
   

   
  	

        	13.1	Roche Right to Audit

   
  Company shall keep, and shall require its Affiliates and Sublicensees to keep, full, true and accurate books of account containing all particulars that may be
    necessary for the purpose of calculating all Net Sales, royalties, Net Proceeds, and Strategic Transaction Revenues payable under this Agreement. Such books of accounts shall be kept at their principal place of business. At the expense of Roche, Roche
    has the right to appoint one of the major public accountant firms to perform, on behalf of Roche an audit of such books and records of Company and its Affiliates and Sublicensees, that are deemed necessary by the major public accountant firm to report
    on (i) Net Sales of Product, royalty calculations, Net Proceeds calculations, and Strategic Transaction Revenues calculations for the period(s) requested by Roche and the (ii) the correctness of any financial report or payments made under this
    Agreement.

   
   

   
  Upon timely request and at least [***] prior written notice from Roche, such audit shall be conducted in the countries specifically requested by Roche, during
    regular business hours in such a manner as to not unnecessarily interfere with Company’s or its Affiliates’ or Sublicensees’ normal business activities, and shall be limited to results in [***] prior to audit notification.

   
   

   
  Such audit shall not be performed more frequently than once per Calendar Year nor more frequently than once with respect to records covering any specific period of
    time. All information, data documents and abstracts herein referred to shall be used only for the purpose of calculating all Net Sales, royalties, Net Proceeds, and Strategic Transaction Revenues payable under this Agreement, shall be treated as
    Company’s Confidential Information subject to the obligations of this Agreement and need neither be retained more than [***] after completion of an audit hereof, if an audit has been requested; nor more than [***] from the end of the Calendar Year to
    which each shall pertain; nor more than [***] after the date of termination of this Agreement.

   
   

   
  	

        	13.2	Audit Reports

   
  The auditors shall only state factual findings in the audit reports and shall not interpret the agreement. The final audit report shall be shared with Company at the
    same time it is shared with Roche.

   
   

   
  	

        	13.3	Over-or Underpayment

   
  If the audit reveals an overpayment, then Roche shall reimburse Company for the amount of the overpayment within [***] after the date of the final audit report. If
    the audit reveals an underpayment, then Company shall make up such underpayment with the next royalty payment or other payment, if no further royalty payments or other payments are owed to Roche, then Company shall reimburse Roche for the amount of the
    underpayment within [***] after the date of the final audit report. Company shall pay for the audit costs if the underpayment of Company exceeds [***] of the aggregate amount of royalty payments or other payments owed with regard to the royalty
    statements or other payments subject of the audit. Section 11.2 (Late Payment) shall apply to this Section 13.3 and Roche shall otherwise pay for the audit costs.

   
   

   
  	

        	14.	Intellectual Property

   
   

   
  	

        	14.1	Ownership of Inventions and Know-How

   
  Company shall own all Company Inventions. Both Parties shall own jointly all Joint Inventions. Roche shall own all Roche Inventions. Company and Roche each shall
    require all of its employees to assign all inventions related to Products made by them to Roche and/or Company, as the case may be. The determination of inventorship for Inventions shall be in accordance with US inventorship laws.

   
   

   
  
    -24-

    
      
 

  

   

   
  Subject to the licenses granted under this Agreement, each Party shall be free to exploit Joint Inventions, Joint Patent Rights and Joint Know-How without the
    consent of, or any duty to account to, the other Party.

   
   

   
  Except as specifically set forth herein, this Agreement shall not be construed as (i) giving any of the Parties any license, right, title, interest in or ownership
    to the Confidential Information; (ii) granting any license or right under any intellectual property rights; or (iii) representing any commitment by either Party to enter into any additional agreement, by implication or otherwise.

   
   

   
  	

        	14.2	German Statute on Employee’s Inventions

   
  If the German Statute on Employees’ Inventions applies, e.g. if an Invention is made by an employee of a Party or its Affiliate which is organized under
    German Law, each Party agrees to claim the unlimited right in and to any Invention conceived, reduced to practice, developed, made or created in the performance of, or as a result of, any research by employees of said Party or its Affiliate. For the
    avoidance of doubt, said Party or its Affiliate is responsible, at its own expense and discretion, for fulfilling the obligations towards their employees under the German Statute on Employee’s Inventions.

   
   

   
  	

        	14.3	Prosecution of Roche Patent Rights

   
  Roche shall, at its own expense and discretion, Handle all Roche Patent Rights. Company shall have the right to, at its own expense and discretion, Handle all Patent
    Rights other than Roche Patent Rights. Roche shall consult with Company as to the Handling of Roche Patent Rights. Roche may assign the Handling of the Roche Patent Rights to Company to be Handled by Company at own expense and discretion, provided
    however that such Patent Rights shall still be deemed Roche Patent Rights for the purpose of calculating the royalties under this Agreement.

   
   

   
  Roche shall inform Company on a regular basis on the status of Roche Patent Rights.

   
   

   
  	

        	14.4	Prosecution of Company Patent Rights and Joint Patent Rights

   
  Company has the sole right, but not the obligation, to, at its own expense and discretion, Handle all Company Patent Rights and, at its own expense but in
    consultation with Roche, all Joint Patent Rights. Company shall inform Roche on a regular basis on the status of Company Patent Rights and Joint Patent Rights.

   
   

   
  	

        	14.5	CREATE Act

   
  It is the intention of the Parties that this Agreement is a “joint research agreement” as that phrase is defined in 35 USC §103(c)(3).

   
   

   
  	

        	14.6	Patent Coordination Team

   
  Where the Parties need to consult with each other on the Handling of Roche Patent Rights or Joint Patent Rights, the Parties shall establish a patent coordination
    team and shall adopt procedures for interacting on patent matters.

   
   

   
  	

        	14.7	Unified Patent Court (Europe)

   
  At any time prior to the end of the “transitional period” as such term is used in Article 83 of the Agreement on a Unified Patent Court between the participating
    Member States of the European Union, for a given relevant EU Roche Patent Right, Roche shall consult Company prior to requesting in writing that Company either (a) opt out from the exclusive competence of the Unified Patent Court or (b) if applicable,
    withdraw a previously-registered opt-out, and Company shall notify the Registry, and take such other action as may be necessary to effect the opt-out or opt-out withdrawal (“Register”). Company shall Register within [***] of receipt of Roche’s
    written request, or such other time parameters specified by Roche.

   
   

   
  
    -25-

    
      
 

  

   

   
  	

        	14.8	Abandonment of Patent Rights

   
  Unless dealt with under Section 14.3, should Roche decide that it does not desire to Handle any Roche Patent Right, then it shall promptly advise Company thereof and
    cease any payments relating to the Handling of such Roche Patent Right after [***] following such advice, but Roche will not otherwise cease or abandon the Handling of any Roche Patent Right. At the written request of Company, Roche shall, [***] assign
    such patent in such country or countries in the Territory to Company, and Company may thereafter Handle the same in Company’s name [***], to the extent that Company desires to do so. All Roche Patent Rights so assigned from Roche to Company shall
    continue to be treated as Roche Patent Rights for purposes of determining the Royalty Term.

   
   

   
  Should Company decide that it does not desire to Handle a Joint Patent Right, then it shall promptly advise Roche thereof. At the written request of Roche, Company
    shall then, at no cost to Company, assign such patent in such country or countries in the Territory to Roche, and Roche may thereafter Handle the same at Roche’s own cost, to the extent that Roche’s desires to do so.

   
   

   
  	

        	14.9	Infringement

   
  Each Party shall promptly provide written notice to the other Party during the Agreement Term of any (a) known infringement or suspected infringement by a Third
    Party of any Roche Patent Rights, Company Patent Rights or Joint Patent Rights, or (b) known or suspected unauthorized use or misappropriation by a Third Party of any Roche Know-How, Company Know-How or Joint Know-How, and shall provide the other Party
    with all evidence in its possession supporting such infringement or unauthorized use or misappropriation.

   
   

   
  Subject to Section 14.12, within [***] after Company provides or receives such written notice (“Decision Period”), Company, in its sole discretion, shall
    decide whether or not to initiate such suit or action in the Territory and shall notify Roche in writing of its decision in writing (“Suit Notice”).

   
   

   
  If Company decides to bring a suit or take action, once Company provides Suit Notice, Company may promptly commence such suit or take such action. In the event that
    Company (i) does not in writing advise Roche within the Decision Period that Company will commence suit or take action, or (ii) fails to commence suit or take action within [***] after providing Suit Notice, Roche shall thereafter have the right to
    commence suit or take action in the Territory and shall provide written notice to Company of any such suit commenced or action taken by Roche.

   
   

   
  Upon written request, the Party bringing suit or taking action (“Initiating Party”) shall keep the other Party informed of the status of any such suit or
    action and shall provide the other Party with copies, to the extent the Initiating Party is lawfully permitted to do so, of all substantive documents or communications filed in such suit or action. The Initiating Party shall have the sole and exclusive
    right to select counsel for any such suit or action.

   
   

   
  
    -26-

    
      
 

  

   

   
  The Initiating Party shall, except as provided below, pay all expenses of the suit or action, including the Initiating Party’s attorneys’ fees and court costs and
    damages owed to Third Parties. Any damages, settlement fees or other consideration received as a result of such suit or action shall be allocated as follows:

   
   

   
  	

        	(a)	First, to reimburse the Initiating Party for its costs and, if any remains, to the other Party for any advisory counsel fees and costs; and

   
   

   
  	

        	(b)	Second, the balance, if any, shall be allocated (i) if the Company is the Initiating Party, to Company and treated as Net Sales, and (ii) if Roche is the Initiating Party, [***] to Roche and [***] to the
          Company.

   
   

   
  If the Initiating Party believes it reasonably necessary, upon written request the other Party shall join as a party to the suit or action, but shall be under no
    obligation to participate, except to the extent that such participation is required as the result of its being a named party to the suit or action. Alternatively, at the Initiating Party’s request, the other Party will bring the suit or action in the
    other Party’s name, if the Initiating Party reasonably believes that the Initiating Party does not have standing to bring the suit or action, and in such event, the Initiating Party will still control the suit or action as provided above. The
    Initiating Party and the other Party shall then jointly agree in good faith on the strategy on how to bring suit or action. At the Initiating Party’s written request, the other Party shall offer reasonable assistance to the Initiating Party in
    connection therewith at no charge to the Initiating Party except for reimbursement of reasonable out-of-pocket expenses incurred by the other Party in rendering such assistance. The other Party shall have the right to participate and be represented in
    any such suit or action by its own counsel at its own expense.

   
   

   
  The Initiating Party may settle, enter into a consent judgment or otherwise voluntarily dispose of the suit or action (“Settlement”) without the written
    consent of the other Party (not to be unreasonably withheld, conditioned or delayed) but only if such Settlement would not require the other Party to admit liability, make any payments or agree to forego any rights or impair any Patent Rights
    Controlled by such Party or its Affiliates; provided that if Company is the Initiating Party, then no such consent from Roche will be required to grant a sublicense.

   
   

   
  For any Company Patent Rights or Company Know-How, Company, in its sole discretion, shall decide whether or not to initiate such suit or action in the Territory.
    Company shall have full discretion as to how it wishes to handle such suit and may reach Settlement and retain all damages, settlement fees or other consideration under any terms and conditions it desires and retain whatever. Only if a Settlement could
    adversely affect Roche shall the written consent of Roche be required, which consent shall not be unreasonably withheld.

   
   

   
  	

        	14.10	Defense

   
  Subject to Section 16, if a Third Party asserts that Patent Rights owned by or licensed to it are infringed by the development, manufacture, use, importation, offer
    for sale or sale of Products, or that its trade secrets were misappropriated in connection with such activity, then Company shall have the exclusive right and responsibility to resolve any such claim, whether by obtaining a license from such Third
    Party, by defending against such Third Party’s claims or otherwise, and shall be solely responsible for the defense of any such action, any and all costs incurred in connection with such action (including attorneys’ and expert fees) and all liabilities
    incurred in connection therewith. Notwithstanding the above, Company shall not enter into any settlement of any such claim without the prior written consent of Roche if such settlement would require Roche to be subject to an injunction or to make any
    monetary payment to Company or any Third Party, or admit any wrongful conduct by Roche or its Affiliates, or would limit or restrict the claims of or admit any invalidity or unenforceability of any of the Patent Rights Controlled by Roche, or have any
    impact on activities outside the Field.

   
   

   
  
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        	14.11	Common Interest Disclosures

   
  With regard to any information or opinions disclosed pursuant to this Agreement by one Party to each other regarding intellectual property or technology owned by
    Third Parties, the Parties agree that they have a common legal interest in determining whether, and to what extent, Third Party intellectual property rights may affect Compounds or Products, and have a further common legal interest in defending against
    any actual or prospective Third Party claims based on allegations of misuse or infringement of intellectual property rights relating to the Compounds or Products. Accordingly, the Parties agree that all such information and materials obtained by
    Company and Roche from each other will be used solely for purposes of the Parties’ common legal interests with respect to the conduct of the Agreement. All information and materials will be treated as protected by the attorney-client privilege, the
    work product privilege, and any other privilege or immunity that may otherwise be applicable. By sharing any such information and materials, neither Party intends to waive or limit any privilege or immunity that may apply to the shared information and
    materials. Neither Party shall have the authority to waive any privilege or immunity on behalf of the other Party without such other Party’s prior written consent, nor shall the waiver of privilege or immunity resulting from the conduct of one Party be
    deemed to apply against any other Party.

   
   

   
  Company is responsible to perform due diligence and to secure its own freedom to operate study or opinion in connection with the use, sale, offer for sale and
    importation of the Compounds and Products from outside counsel of Company’s choice.

   
   

   
  	

        	14.12	Hatch-Waxman

   
  Notwithstanding anything herein to the contrary, should a Party receive a certification for a Product pursuant to the Drug Price Competition and Patent Term
    Restoration Act of 1984 (Public Law 98-417, known as the Hatch-Waxman Act), as amended, or its equivalent in a country other than the US, then such Party shall immediately, but in no event later than [***] after such receipt, provide the other Party
    with a copy of such certification. Company shall have [***] from date on which it receives or provides a copy of such certification to provide written notice to Roche (“H-W Suit Notice”) whether Company will bring suit, at its expense, [***]
    period from the date of such certification. Should such [***] period expire without Company bringing suit or providing such H-W Suit Notice, then Roche shall be free to immediately bring suit in its name.

   
   

   
  	

        	14.13	Patent Term Extensions

   
  Company shall have the sole right to seek and obtain all available patent term extensions, adjustments or restorations, or supplementary protection certificates (“SPCs”,

    and together with patent term extensions, adjustments and restorations, “Patent Term Extensions”) for Compounds and Products. Roche shall execute such authorizations and other documents and take such other actions as may be reasonably requested
    by Company to obtain such Patent Term Extensions, including designating Company as its agent for such purpose as provided in 35 U.S.C. Section 156. All filings (if any) for such Patent Term Extensions for Patent Rights shall be made by Company after
    consultation with Roche; provided that in the event that Company elects not to file for a Patent Term Extension, Company shall (a) promptly inform Roche of its intention not to file and (b) grant to Roche the right to file for such Patent Term
    Extension. Each Party shall execute such authorizations and other documents and take such other actions as may be reasonably requested by the other Party to obtain such extensions. The Parties shall consult and cooperate with each other in gaining
    patent term restorations, extensions and/or SPCs wherever applicable to such Roche Patent Rights. Each Party shall bear its own expenses in connection with Patent Term Extensions and patent term restoration.

   
   

   
  
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        	15.	Representations and Warranties (Garantien)

   
   

   
  	

        	15.1	Mutual representations and warranties

   
  Each Party represents and warrants (garantiert) to the other within the meaning of section 311 para. (1) German Civil Code that, as of the Effective Date: (a)
    it is duly organized and validly existing under the laws of its jurisdiction of incorporation or formation, and has full corporate or other power and authority to enter into this Agreement and to carry out the provisions hereof; (b) it is duly
    authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person or persons executing this Agreement on its behalf has been duly authorized to do so by all requisite corporate or partnership action; and (c) this
    Agreement is legally binding upon it, enforceable in accordance with its terms, and does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any material law or
    regulation of any court, governmental body or administrative or other agency having jurisdiction over it.

   
   

   
  	

        	15.2	Roche Representations and Warranties

   
  Roche represents and warrants (garantiert) to Company within the meaning of section 311 para. (1) German Civil Code that, as of the Effective Date:

   
   

   
  (i)            Roche has the full right, power and authority to grant the licenses and other rights
    purported to be granted to Company under this Agreement, without the consent of, or requirement to make any payments to, any Third Party;

   
   

   
  (ii)           Roche is not a party to any legal action, suit or proceeding relating to any Compound or
    Product, and Roche is not aware of any investigations, inquiries, actions, or other proceedings pending before or threatened by any Regulatory Authority or other governmental authority in the Territory with respect to any Compound or Product, and
    neither Roche nor its Affiliates has received notice threatening any such investigation, inquiry, action, or other proceeding;

   
   

   
  (iii)          there are no pending or, to the best of Roche’s knowledge, threatened adverse actions,
    suits or proceedings against Roche involving the Compounds, Products or Roche Know-How or Roche Patent Rights;

   
   

   
  (iv)         Roche has not received written or oral notice from any Third Party claiming that the
    manufacture, use or sale of Compound or Product infringes any Patent Right of any Third Party;

   
   

   
  (v)          Roche is not aware of any issued Patent Right that would be infringed by the manufacture,
    use, or sale of the Compounds in the Field in the Territory;

   
   

   
  (vi)         Roche is not aware of any Third Party that is infringing, misappropriating, or otherwise
    violating any Roche Patent Rights or Roche Know-How in the Field in the Territory;

   
   

   
  (vii)        Roche has Control of all the Roche Patent Rights and Roche Know-How;

   
   

   
  (viii)       Roche and its Affiliates have taken commercially reasonable measures consistent with
    Roche’s typical practices to protect the secrecy, confidentiality, and value of all Roche Know-How (including requiring all employees, agents, and independent contractors to execute binding and enforceable agreements requiring all such employees,
    agents, and independent contractors to maintain the confidentiality of such Roche Know-How) and Roche is not aware of (a) any Roche Know-How being used, disclosed to, or discovered by any Third Party except pursuant to such confidentiality agreements
    and (b) any breach by any party to such confidentiality agreements;

   
   

   
  
    -29-

    
      
 

  

   

   
  (ix)         Roche and its Affiliates, employees, agents, and independent contractors have conducted all
    development of all Compounds and Products in accordance with Applicable Law, including conducting all clinical studies with respect to the Compounds and Products in accordance with Applicable Law;

   
   

   
  (x)          Roche is not aware of any facts or circumstances which are not publicly available and would
    (a) form a reasonable basis for rendering any of the Roche Patent Rights invalid or unenforceable or (b) prevent a pending application for a Roche Patent Right from issuing; and

   
   

   
  (xi)         Roche does not
      Control any Patent Rights or Know-How, other than those licensed under this Agreement, that are necessary for the making, having made, using, selling, offering for sale or importing of the compounds [***] as manufactured using the process set forth in the Roche Know-How.

   
   

   
  	

        	15.3	Limitations

   
  Except as provided in Section 15.2, Roche makes no representation or warranty that all intellectual property rights necessary for Company to make, have made, use,
    sell, offer for sale and import the Compound or the Product in the Territory have been granted to Company under Article 2. Roche did not perform an exhaustive and final search for Third Party Patent Rights or an evaluation thereof for Compound and
    technologies relevant under this Agreement. Roche will not keep Company updated about further searches or analyses of Third Party Patent Rights nor will it keep Company updated about any further developments of any Third Party rights or steps taken or
    intended to be taken by Company with regard to such Third Party rights.

   
   

   
  	

        	15.4	Disclaimer

   
  Except as expressly set forth herein and elsewhere in this Agreement, THE INTELLECTUAL PROPERTY RIGHTS PROVIDED BY EACH PARTY HEREUNDER ARE PROVIDED “AS IS” AND EACH
    PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR ARISING
    FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES.

   
   

   
  	

        	16.	Indemnification

   
   

   
  	

        	16.1	Roche indemnification

   
  Roche shall indemnify and defend Company and its Affiliates and third respective officers, directors, employees, consultants and agents (“Company Indemnitees”)

    from and against any and all losses, damages, liabilities, expenses and costs, including reasonable legal expense and attorneys’ fees (“Indemnified Losses”), to which any such Company Indemnitee may become subject as a result of any claim,
    demand, action or other proceeding by any Third Party to the extent such Indemnified Losses arise out of or relate to (a) the breach by Roche of any obligation, representation, warranty, covenant or agreement made by it under this Agreement, (b) the
    development, manufacture, use, handling, storage, sale or other disposition of the Compounds or any Products by Roche or any of its Affiliates or (c) the negligence or willful misconduct of any Roche Indemnitees, except in each case ((a) - (c)), to the
    extent such Indemnified Losses result from the negligence or willful misconduct of any Company Indemnitee or Company’s breach of this Agreement (including any item subject to indemnification by Company under Section 16.2).

   
   

   
  
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        	16.2	Company indemnification

   
  Company shall indemnify, and defend Roche and its Affiliates and its respective officers, directors, employees, consultants and agents (“Roche Indemnitees”)
    from and against any and all Indemnified Losses, to which any such Roche Indemnitee may become subject as a result of any claim, demand, action or other proceeding by any Third Party to the extent such Indemnified Losses arise out of (a) the breach by
    Company of any obligation, representation, warranty, covenant or agreement made by it under this Agreement, or (b) the development, manufacture, use, handling, storage, sale or other disposition of the Compounds or any Products by Company or any of its
    Affiliates or Partners, except in each case (a) and (b) to the extent such Indemnified Losses result from the negligence or willful misconduct of any Roche Indemnitee or Roche’s breach of this Agreement (including any item subject to indemnification by
    Roche under Section 16.1).

   
   

   
  	

        	16.3	Procedure

   
  In the event any Company Indemnitee or Roche Indemnitee (as the case may be) seeks indemnification under Section 16.1 or 16.2, it shall inform the other Party (the “Indemnifying

      Party”) of a claim as soon as reasonably practicable after it receives notice of the claim, shall permit the Indemnifying Party to assume direction and control of the defense of the claim (including the right to settle the claim solely for
    monetary consideration), and shall cooperate as requested (at the expense of the Indemnifying Party) in the defense of the claim, provided that the Indemnifying Party shall not settle any such claim without the prior written consent of any
    affected Roche Indemnitee or Company Indemnitee (as the case may be), if such settlement contains any admission of fault of such Company Indemnitee or Roche Indemnitee (as the case may be).

   
   

   
  	

        	17.	Liability

   
   

   
  	

        	17.1	Disclaimer

   
  THE FOREGOING REPRESENTATIONS AND WARRANTIES ARE IN LIEU OF ALL OTHER REPRESENTATIONS AND WARRANTIES NOT EXPRESSLY SET FORTH HEREIN. COMPANY AND ROCHE DISCLAIM ALL
    OTHER WARRANTIES, WHETHER EXPRESS OR IMPLIED, WITH RESPECT TO EACH OF THEIR RESEARCH, DEVELOPMENT AND COMMERCIALIZATION EFFORTS HEREUNDER, INCLUDING WHETHER THE PRODUCTS CAN BE SUCCESSFULLY DEVELOPED OR MARKETED, THE ACCURACY, PERFORMANCE, UTILITY,
    RELIABILITY, TECHNOLOGICAL OR COMMERCIAL VALUE, COMPREHENSIVENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WHATSOEVER OF THE PRODUCTS.

   
   

   
  	

        	17.2	Limitation of Liability

   
  Except for a Party’s breach of Section 18 or its obligations under Section 16, NEITHER PARTY SHALL BE LIABLE FOR INDIRECT DAMAGES (INDIREKTE SCHADEN) AND
    CONSEQUENTIAL DAMAGES (FOLGESCHADEN), NAMELY DAMAGES WHICH (A) DO NOT ARISE DIRECTLY THROUGH THE BREACH OF THE CONTRACTUAL DUTY BUT RATHER ONLY THROUGH THE OCCURRENCE OF A FURTHER INDIRECT CAUSAL EVENT, OR (B) ARE NOT FORESEEABLE FOR THE PARTIES AT THE
    DATE OF THE CONCLUSION OF THE AGREEMENT ACCORDING TO THE COURSE OF EVENTS WHICH IS TYPICALLY TO BE EXPECTED, INCLUDING LOST REVENUES OR PROFITS (ENTGANGENER GEWINN), IRRESPECTIVE OF THE LEGAL BASIS FOR SUCH CLAIMS. THIS LIMITATION OF LIABILITY SHALL
    NOT APPLY IN THE EVENT OF DAMAGES CAUSED BY GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE DAMAGING PARTY.

   
   

   
  
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        	18.	Obligation Not to Disclose Confidential Information

   
   

   
  	

        	18.1	Non-Use and Non-Disclosure

   
  During the Agreement Term and for [***] thereafter, a Party receiving Confidential Information (“Receiving Party”) shall (a) treat Confidential Information
    provided by Disclosing Party as it would treat its own information of a similar nature, (b) take all reasonable precautions not to disclose such Confidential Information to Third Parties, without the Disclosing Party’s prior written consent, and (c)
    not use such Confidential Information other than for fulfilling its obligations or exercising its rights under this Agreement.

   
   

   
  	

        	18.2	Permitted Disclosure

   
  Each Party may disclose Confidential Information of the other Party as expressly permitted by this Agreement or if and to the extent such disclosure is reasonably
    necessary in the following instances:

   
   

   
  (i)            filing or prosecuting Patent Rights as permitted by this Agreement;

   
   

   
  (ii)           prosecuting or defending litigation as permitted by this Agreement;

   
   

   
  (iii)          complying with applicable court orders or governmental regulations; and

   
   

   
  (iv)         disclosure to (a) Affiliates, (b) Company and potential or actual subcontractors, Partners,
    assignees and Change of Control counterparties, (c) Third Parties in connection with due diligence or similar investigations by such Third Parties and (d) disclosure to potential Third Party investors or financial institutions or advisors, provided
    that, in each case, that any such Third Party agrees to be bound by obligations of confidentiality and non-use, such obligations of confidentiality to contain a confidentiality period of at least [***] or another commercially reasonable period of time
    but not less than [***], except for disclosures of financial deal terms to Third Party investors or financial institutions in connection with due diligence or similar investigations, in which case, the confidentiality period pertaining to this
    information will be no less than [***].

   
   

   
  Notwithstanding the foregoing, in the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant to Sections 18.2(ii) or
    18.2(iii), then it will, except where impracticable, give reasonable advance notice to the other party of such disclosure and use efforts to secure confidential treatment of such information at least as diligently as such Party would use to protect its
    own confidential information, but in no event less than reasonable efforts. In any event, the Parties agree to take all reasonable action to avoid disclosure of Confidential Information hereunder. The Parties will consult with each other on the
    provisions of this Agreement to be redacted in any filings made by the parties with the Securities and Exchange Commission (or any other relevant agency or body related to a regulated stock exchange) or as otherwise required by Applicable Law.

   
   

   
  
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        	18.3	Press Releases

   
  Company may issue a press release announcing the existence and selected key non-financial terms of this Agreement that is mutually agreed by the Parties (the “Initial

      Press Release”) and is in a form substantially similar to the template attached as Appendix 18.3. Thereafter, both Parties may desire or be required to issue subsequent press releases relating to the Agreement or activities hereunder. The Parties
    agree to consult with each other reasonably and in good faith with respect to the text and timing of such subsequent press releases prior to the issuance thereof, provided that a Party may not unreasonably withhold or delay consent to such
    subsequent releases, and that either Party may issue such subsequent press releases as it determines, based on advice of counsel, are reasonably necessary to comply with laws or regulations or for appropriate market disclosure. In addition, following
    the Initial Press Release announcing this Agreement, either party shall be free to disclose, without the other party’s prior written consent, the existence of this Agreement, the fact that Company has taken a license from Roche to the Compounds and
    Products for development and commercialization in the Field, and those terms of the Agreement that have already been publicly disclosed in accordance herewith.

   
   

   
  	

        	18.4	Publications

   
  During the Agreement Term, the following restrictions shall apply with respect to disclosure by Company of Confidential Information relating to the Compounds and
    Products in any publication or presentation:

   
   

   
  Company shall provide Roche with a copy of any proposed publication or presentation at least [***] (or at least [***] in the case of oral presentations) prior to
    submission for publication so as to provide Roche with an opportunity to recommend any changes it reasonably believes are necessary to continue to maintain the confidentiality of Roche Confidential Information in accordance with the requirements of
    this Agreement. The incorporation of such recommended changes shall not be unreasonably refused; and if Roche notifies (“Publishing Notice”) Company in writing, within [***] after receipt of the copy of the proposed publication or presentation
    (or at least [***] in the case of oral presentations), that such publication or presentation in its reasonable judgment (a) contains an invention, solely or jointly conceived or reduced to practice by Roche, for which Roche reasonably desires to obtain
    patent protection or (b) could be expected to have a material adverse effect on the commercial value of any Confidential Information disclosed by Roche to Company, Company shall prevent such publication or delay such publication for a mutually
    agreeable period of time. In the case of inventions, a delay shall be for a period reasonably sufficient to permit the timely preparation and filing of a patent application(s) on such invention, and in no event less [***] from the date of the
    Publishing Notice.

   
   

   
  	

        	18.5	Commercial Considerations

   
  Nothing in this Agreement shall prevent Company or its Affiliates from disclosing Confidential Information of Roche to (i) Regulatory Authorities to the extent
    required or desirable to secure Regulatory Approval for the development, manufacture or sale of Products in the Territory, (ii) Third Parties acting on behalf of Company, to the extent necessary for the development, manufacture or sale of Products in
    the Territory, (iii) Third Parties to the extent necessary to market any Product in the Territory, (iv) Third Parties to the extent necessary in connection with a prospective or actual Partner Agreement, (v) Third Parties to the extent necessary to
    otherwise carry out its obligations or exercise its rights under this Agreement, (vi) with a prospective or actual financing, investment in or Change of Control of Company, provided that any such disclosures are subject to confidentiality
    obligations at least as onerous as those set forth in this Agreement or (vii) Third Parties in connection with any IPO of Company, to the extent Company deems such disclosure necessary.

   
   

   
  The Receiving Party may disclose Confidential Information of the Disclosing Party to the extent that such Confidential Information is required to be disclosed by the
    Receiving Party to comply with Applicable Law, to defend or prosecute litigation or to comply with governmental regulations or applicable regulations of a stock exchange, provided that the Receiving Party provides prior written notice of such
    disclosure to the Disclosing Party and, to the extent practicable, takes reasonable and lawful actions to minimize the degree of such disclosure and to ensure such disclosed Confidential Information is treated confidentially.

   
   

   
  
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        	19.	Term and Termination

   
   

   
  	

        	19.1	Commencement and Term

   
  This Agreement shall commence on the Effective Date and continue for the Agreement Term, unless terminated in accordance with Section 19.2.

   
   

   
  	

        	19.2	Termination

   
   

   
  Unless otherwise expressly set forth in this Section 19.2, neither Party is entitled to terminate this Agreement. The right of both Parties to terminate this
    Agreement for cause with immediate effect (außerordentliche Kündigung) in accordance with section 314 German Civil Code shall be unaffected.

   
   

   
  	

        	19.2.1	Termination for Breach

   
  A Party (“Non-Breaching Party”) shall have the right, without prejudice to any other remedies available to the Non-Breaching Party, to terminate this
    Agreement in its entirety in the event the other Party (“Breaching Party”) is in material breach of this Agreement which material breach is not cured as described in this Section 19.2.1. The Non-Breaching Party shall provide written notice to
    the Breaching Party, which notice shall identify the material breach. The Breaching Party shall have a period of [***] after such written notice is provided (“Peremptory Notice Period”) to cure such breach.

   
   

   
  If the Breaching Party has a bona fide dispute as to whether such material breach occurred or has been cured, then it will so notify the Non-Breaching Party
    together with an explanation for the basis of its dispute, and the expiration of the Peremptory Notice Period shall be tolled until such dispute is resolved pursuant to Section 21.4. Upon the senior executives’ determination of material breach or
    failure to cure, the Breaching Party may have the remainder of the Peremptory Notice Period to cure such material breach, unless the Peremptory Cure Period is extended pursuant to the senior executives’ determination, in which case the Breaching Party
    will have such extended period to cure such material breach.

   
   

   
  If a material breach is not cured within the Peremptory Notice Period (or such extended period), then the Non-Breaching Party may terminate this Agreement with
    immediate effect by sending a written notice of termination to the Breaching Party.

   
   

   
  	

        	19.2.2	Termination for Insolvency Event

   
  A Party shall have the right to terminate this Agreement in its entirety, if the other Party incurs an Insolvency Event; provided, however, in the
    case of any involuntary bankruptcy proceeding, such right to terminate shall only become effective if the Party that incurs the Insolvency Event consents to the involuntary bankruptcy or such proceeding is not dismissed within [***] after the filing
    thereof.

   
   

   
  	

        	19.2.3	Termination by Company without a Cause

   
  Company shall have the right to terminate this Agreement at any time in its entirety or on a Product-by-Product basis upon [***] prior written notice before First
    Commercial Sale of a Product or upon [***] prior written notice after the First Commercial Sale of a Product. The effective date of termination under this Section 19.2.3 shall be the date six (6) months (or [***] as the case may be) after Company
    provides such written notice to Roche.

   
   

   
  
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        	19.3	Consequences of Termination

   
   

   
  	

        	19.3.1	Termination by Company for Breach by Roche or Roche Insolvency

   
  Upon any termination by Company for breach by Roche or Roche Insolvency, in accordance with Section 19.2.1 or Section 19.2.2, as applicable, the rights and licenses
    granted by one Party to the other Party under this Agreement shall terminate in their entirety on the effective date of termination.

   
   

   
  	

        	19.3.2	Termination by Company without Cause, Termination by Roche for Breach by Company, Company Insolvency or Company Debarment

   
  Upon any termination by Company without Cause, Termination by Roche for Breach by Company, Company Insolvency or Company Debarment in accordance with Section 19.2.1,
    19.2.2, or 19.2.3, as applicable, the rights and licenses granted by Roche to Company under this Agreement shall terminate in their entirety, or on a Product-by-Product basis, as applicable, on the effective date of termination.

   
   

   
  If Roche desires to continue development or commercialization of Product(s), then Roche shall give a Continuation Election Notice to Company within [***] of receipt
    of Company’s notice of termination without cause. If Company receives such a timely Continuation Election Notice, and to the extent reasonably requested by Roche:

   
   

   
  (i)            After the date of notice of termination Company shall, to the extent Company has the right to do so, transfer to Roche all regulatory filings and approvals, all final pre-clinical, non-clinical and clinical
      study reports and clinical study protocols, trademarks, and all data, including clinical data, materials and information, in Company’s possession and Control, that are (a) solely related to Product(s) and (b) necessary or useful for Roche to continue
      to develop and commercialize the Product(s).

   
   

   
  (ii)           To the extent permitted thereunder, Company shall assign all clinical study agreements, pre-clinical and non-clinical study agreements and CMC study agreements, in each case, solely related to the Products,
      free of charge;

   
   

   
  (iii)          Roche shall, upon transfer, have the right to disclose such filings, approvals and data transferred by Company to Roche to (a) governmental agencies to the extent required or desirable to secure government
      approval for the development, manufacture or sale of Product(s); (b) Third Parties acting on behalf of Roche or its Affiliates for the development, manufacture, or sale of Product(s), or (c) Third Parties to the extent reasonably necessary to market
      Product(s).

   
   

   
  
    -35-

    
      
 

  

   

   
  (iv)         Roche shall have a worldwide, exclusive, sublicensable, transferable license under the Company Patent Rights, Company Know-How and Company’s interest in the Joint Patent Rights, in each case, in existence as of
      the effective date of termination, to research, develop, manufacture, have manufactured, use, offer to sell, sell, promote, export and import the applicable Compounds and Products in the Field in the Territory. In consideration of the license rights
      granted to Roche pursuant to this Section 19.3.2(iv), Roche shall (a) either (1) reimburse Company for all payments owed to Third Parties under agreements with such Third Parties pursuant to which Company acquired or licensed rights to intellectual
      property included in the Company Know-How or Company Patents that arise out of the exercise of the license granted to Roche pursuant to this Section 19.3.2(iv), provide to Company all reports required under any such agreements to be provided to such
      Third Parties and comply with all other terms under such agreements applicable to a licensee or sublicensee thereunder that have been disclosed to Roche or (2) (A) with respect to any such agreements between Company and a Third Party pursuant to
      which Company licensed rights solely related to Compounds and/or Products, instruct Company to terminate such agreements, or (B) with respect to any such agreements between Company and a Third Party pursuant to which Company licensed rights related
      to Compounds and/or Products and any other compound or product, elect not to receive a sublicense under any such agreement, in which case Roche shall not be obligated to reimburse Company for any amounts under any such agreement, and (b) pay to
      Company a royalty at the applicable rate set forth in the table below [***] after the First Commercial Sale of the Product on a country-by-country basis, and the provisions of Sections 1.46, 10.5, 10.6, 10.7, 10.8, and 11 shall apply mutatis mutandis
      with respect to such payments. For example, if the Product is transferred to Roche pursuant to this Section 19.3.2(iv) after [***] following the First Commercial Sale of the Product in the US, then Roche shall pay to Company a royalty in the US for
      [***].

   
   

   
  	Effective Date of Termination	Percent (%) of Net Sales
	[***]	[***]

   
   

   
  	

        	19.4	Obligations Related to Ongoing Activities

   
  If Roche does not provide timely Continuation Election Notice, then Company (i) shall have the right to cancel all cancellable ongoing obligations and (ii) shall
    complete all non-cancellable obligations at its own expense.

   
   

   
  If Roche provides such timely Continuation Election Notice, then from the date of notice of termination until the effective date of termination, Company shall
    continue activities ongoing as of the date of notice of termination at its own expense.

   
   

   
  After the effective date of termination, Company shall not have any obligation to perform or complete any activities or to make any payments for performing or
    completing any activities under this Agreement, except as expressly stated herein.

   
   

   
  Notwithstanding the foregoing, in case of termination by Roche under Sections 19.2.1, 19.2.2, or 21.10 or by Company under Section 19.2.3, upon the request of Roche,
    Company shall complete any studies related to the Product(s) that are being conducted under its IND for the Product(s) and are ongoing as of the effective date of termination; provided that

   
   

   
  (i)            both Company and Roche in their reasonable judgment have concluded that completing any
    such clinical studies does not present an unreasonable risk to patient safety;

   
   

   
  (ii)           Roche agrees to reimburse Company for all of its development costs that arise after the
    effective date of termination in completing such studies; and

   
   

   
  (iii)          Roche shall assume control over, and responsibility for, such studies as soon as
    reasonably practicable.

   
   

   
  
    -36-

    
      
 

  

   

   
  	

        	19.5	Obligations Related to Manufacturing

   
  If (i) Roche has provided Company a timely Continuation Election Notice, and (ii) Product is then being manufactured, then, upon the request of Roche, Company shall
    use reasonable efforts to manufacture and supply (or have manufactured or supplied, as the case may be) Product to Roche for a period that shall not exceed [***] from the effective date of the termination of this Agreement at a price to be agreed by
    the Parties in good faith. Roche shall use reasonable efforts to take over the manufacturing as soon as possible after the effective date of termination.

   
   

   
  	

        	19.6	Direct License

   
  Irrespective of anything to the contrary in this Agreement, any existing, permitted sublicense granted to a Sublicensee shall, upon the written request of any
    Sublicensee within [***] following the effective date of termination, remain in full force and effect [***] from the effective date of termination of this Agreement (“Transition Period”), provided that such Sublicensee is not then in
    breach of its sublicense agreement, and in the case of termination by Roche for material breach by Company, that such Sublicensee did not cause the material breach that gave rise to the termination by Roche. During such Transition Period, Roche shall
    cooperate with such Sublicensee to enter into a direct license agreement, whereby such Sublicensee agrees in writing to be bound to Roche under the same terms and conditions of this Agreement. Notwithstanding the foregoing, any sublicense granted by
    Company under Section 2.3 of this Agreement to its Affiliates shall terminate upon effective date of the termination of this Agreement.

   
   

   
  	

        	19.7	Royalty and Payment Obligations

   
  Expiration or termination of this Agreement (or any provision hereof) for any reason shall be without prejudice to any right that shall have accrued to the benefit
    of a Party prior to such expiration or termination, including damages arising from any breach under this Agreement. Termination of this Agreement by a Party, for any reason, shall not release Company from any obligation to pay royalties or make any
    other payments to Roche that are due and payable or accrued prior to the effective date of termination.

   
   

   
  	

        	19.8	Survival

   
  Article 1 (Definitions), Article 16 (Indemnification), Article 18 (Obligation Not to Disclose Confidential Information), Article 19 (Term and Termination), Article
    20 (Bankruptcy), Article 21 (Miscellaneous) and Sections 11.3 (Method of Payment), 11.4 (Currency Conversion), 14.1 (Ownership of Inventions and Know-How), 14.2 (German Statute on Employee’s Inventions) and 17.2 (Limitation of Liability) shall survive
    any expiration or termination of this Agreement for any reason.

   
   

   
  	

        	20.	Bankruptcy

   
  All licenses (and to the extent applicable rights) granted under or pursuant to this Agreement by Roche to Company are, and shall otherwise be deemed to be, for
    purposes of Section 365(n) of Title 11, US Code (the “Bankruptcy Code”) licenses of rights to “intellectual property” as defined under Section 101(60) of the Bankruptcy Code. Unless Company elects to terminate this Agreement, the Parties agree
    that following a Roche Insolvency Event, Company, as a licensee or sublicensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code, subject to the continued performance of
    its obligations under this Agreement. Each Party acknowledges and agrees that “embodiments” of intellectual property within the meaning of Section 365(n) include laboratory notebooks, cell lines, product samples and inventory, research studies and
    data, all Regulatory Approvals (and all applications for Regulatory Approval) and rights of reference therein, the Roche Patent Rights and Roche Know-How and all information related thereto. If (x) a case under the Bankruptcy Code is commenced by or
    against Roche, (y) this Agreement is rejected as provided in the Bankruptcy Code, and (z) Company elects to retain its rights hereunder as provided in Bankruptcy Code, Roche (in any capacity, including debtor-in-possession) and its successors and
    assigns (including a trustee) will:

   
   

   
  (i)            provide Company with all such intellectual property (including all embodiments thereof)
    held by Roche and such successors and assigns, or otherwise available to them, immediately upon Company’s written request. Whenever Roche or any of its successors or assigns provides to Company any of the intellectual property licensed hereunder (or
    any embodiment thereof) pursuant to this Section 20(i), Company will have the right to perform Roche’s obligations hereunder with respect to such intellectual property, but neither such provision nor such performance by Company will release Roche from
    liability resulting from rejection of the license or the failure to perform such obligations; and

   
   

   
  
    -37-

    
      
 

  

   

   
  (ii)           not interfere with Company’s rights under this Agreement, or any agreement supplemental
    hereto, to such intellectual property (including such embodiments), including any right to obtain such intellectual property (or such embodiments) from another entity, to the extent provided in Bankruptcy Code.

   
   

   
  	

        	21.	Miscellaneous

   
   

   
  	

        	21.1	Entire Agreement

   
  This Agreement is the entire agreement between the Parties with respect to the subject matter herein, and supersedes any and all prior agreements, understandings,
    negotiations or correspondence between the Parties respecting the subject matter hereof, whether written or verbal. The Parties agree that the Non-Disclosure Agreement and Exclusivity Agreement are hereby terminated in their entirety.

   
   

   
  	

        	21.2	Written Form

   
  Unless otherwise expressly set forth in this Agreement, any provision of this Agreement may be amended or waived only if such amendment or waiver is effected by
    written instrument executed by all Parties and explicitly refers to this Agreement. This requirement also applies to any amendment or waiver of this Section 21.2 itself.

   
   

   
  	

        	21.3	Governing Law

   
  This Agreement shall be governed by and construed in accordance with the laws of Germany, without reference to its conflict of laws principles, and shall not be
    governed by the United Nations Convention of International Contracts on the Sale of Goods (the Vienna Convention) (“Governing Law”).

   
   

   
  	

        	21.4	Disputes

   
  Unless otherwise set forth in this Agreement, in the event of any dispute in connection with this Agreement, such dispute shall be, by written notice (“Escalation
      Notice”) referred to the respective executive officers of the Parties designated below or their designees, for good faith negotiations attempting to resolve the dispute. The designated executive officers are as follows:

   
   

   
  For Company: CEO

    For Roche:       Head of Roche Partnering

   
   

   
  	

        	21.5	Arbitration

   
  Should the executive officers of the Parties fail to agree pursuant to Section 21.4 within [***] after such dispute has first been referred to them, then except for
    any dispute subject to Sections 10.5 or 10.6, it shall be finally settled by arbitration in accordance with the commercial arbitration rules of the International Chamber of Commerce (ICC) in force at the time when initiating the arbitration. The
    tribunal shall consist of three arbitrators, all of whom shall be neutral and independent of the Parties and their Affiliates (the “Arbitral Tribunal”) and selected in accordance with Section 21.6. The expedited procedure provisions set forth in
    Article 30 and Appendix VI of the ICC rules shall not apply. The place of arbitration shall be Frankfurt, Germany. The language of the arbitration shall be English. Documents submitted in the arbitration (the originals of which are not in English)
    shall be submitted together with an English translation.

   
   

   
  
    -38-

    
      
 

  

   

   
  	

        	21.6	Arbitrators

   
   

   
  Each Party shall nominate one arbitrator. Should the claimant fail to nominate an arbitrator in the request for arbitration within [***] of being requested to do so,
    or if the respondent should fail to nominate an arbitrator in its answer to the request for arbitration [***] of being requested to do so, the other Party shall request the ICC Court to make such nomination.

   
   

   
  The arbitrators nominated by the Parties shall, within [***] from the nomination of the arbitrator nominated in the answer to the request for arbitration, and after
    consultation with the Parties, agree and appoint a third arbitrator, who will act as a chairman of the Arbitral Tribunal. Should such procedure not result in an appointment within the [***] time limit, either Party shall be free to request the ICC
    Court to appoint the third arbitrator.

   
   

   
  Where there is more than one claimant or more than one respondent, the multiple claimants or respondents shall jointly nominate one arbitrator.

   
   

   
  If any Party-nominated arbitrator or the third arbitrator resigns or ceases to be able to act, a replacement shall be appointed in accordance with the arrangements
    provided for in this clause.

   
   

   
  	

        	21.7	Decisions; Timing of Decisions

   
  The Arbitral Tribunal shall render a written opinion setting forth findings of fact and conclusions of law with the reason therefor stated, and shall endeavor to
    render such opinion within no later than [***] from the date on which the Arbitral Tribunal was appointed to the dispute. A transcript of the evidence adduced at the arbitration hearing shall be made and, upon request, shall be made available to each
    Party.

   
   

   
  The time periods set forth in the ICC Arbitration Rules shall be followed; provided however that the arbitrators may modify such time periods as reasonably necessary
    to render a written opinion in accordance with this Section 21.7.

   
   

   
  The Arbitral Tribunal is empowered to award any remedy allowed by law, including money damages, prejudgment interest and attorneys’ fees, and to grant final,
    complete, interim, or interlocutory relief, including injunctive relief.

   
   

   
  The arbitration provisions of this Agreement do not preclude either Party seeking conservatory or interim measures from any court of competent jurisdiction including
    the courts having jurisdiction by reason of either Party’s domicile. Conservatory or interim measures sought by either Party in any one or more jurisdictions shall not preclude the Arbitral Tribunal granting conservatory or interim measures.
    Conservatory or interim measures sought by either Party before the Arbitral Tribunal shall not preclude any court of competent jurisdiction granting conservatory or interim measures.

   
   

   
  Any arbitration proceeding hereunder shall be confidential and the arbitrators shall issue appropriate protective orders to safeguard each Party’s Confidential
    Information. Except as required by Applicable Law, neither Party shall make (or instruct the arbitrators to make) any public announcement with respect to the proceedings or decision of the arbitrators without prior written consent of the other Party.
    The existence of any dispute submitted to arbitration, and the award, shall be kept in confidence by the Parties and the arbitrators, except as required in connection with the enforcement of such award or as otherwise required by Applicable Law.

   
   

   
  
    -39-

    
      
 

  

   

   
  Notwithstanding anything to the contrary in this Agreement, any and all issues regarding the scope, construction, validity or enforceability of any Patent Rights
    shall be determined in a court of competent jurisdiction under the local patent laws of the jurisdictions having issued the Patent Rights in question.

   
   

   
  Notwithstanding anything to the contrary in this Agreement, any and all issues regarding a breach or alleged breach of a Party’s obligations under Article 18
    (Obligation Not to Disclose Confidential Information) shall be determined in a court of competent jurisdiction under the Governing Law set forth in Section 21.3.

   
   

   
  	

        	21.8	Insurance

   
  Company shall purchase and maintain throughout the Agreement Term insurance or indemnity protection that is co-equal with its indemnity obligations. This shall
    include broad form commercial general liability insurance (including product liability). The limit of liability for such coverage shall be no less than [***] per claim/occurrence in the aggregate. Company shall also maintain workers’ compensation
    insurance if it has any US employees.

   
   

   
  	

        	21.9	Assignment

   
  Company shall not assign its rights or obligations under this Agreement absent the prior written consent of Roche, except that each Party may assign this Agreement
    without such consent to any of its Affiliates or, subject to the terms and conditions of this Agreement, in the context of a merger, acquisition, sale or other transaction involving all or substantially all of the assets of Company, in which case
    Company in its sole discretion may assign its rights and obligations under this Agreement. Any permitted assignment shall be binding on the successors of Company.

   
   

   
  	

        	21.10	Debarment

   
  Each Party represents and warrants to the other Party that it has never been debarred under 21 U.S.C. §335a, disqualified under 21 C.F.R. §312.70 or §812.119,
    sanctioned by a Federal Health Care Program (as defined in 42 U.S.C §1320 a-7b(f)), including the federal Medicare or a state Medicaid program, or debarred, suspended, excluded or otherwise declared ineligible from any other similar Federal or state
    agency or program. In the event that a Party receives notice of debarment, suspension, sanction, exclusion, ineligibility or disqualification under the above-referenced statutes, such Party shall immediately notify the other Party in writing.

   
   

   
  	

        	21.11	Independent Contractor

   
  No employee or representative of either Party shall have any authority to bind or obligate the other Party to this Agreement for any sum or in any manner whatsoever
    or to create or impose any contractual or other liability on the other Party without said Party’s prior written approval. For all purposes, and notwithstanding any other provision of this Agreement to the contrary, Company legal relationship to Roche
    under this Agreement shall be that of independent contractor.

   
   

   
  	

        	21.12	Unenforceable Provisions and Severability

   
  If any of the provisions of this Agreement are held to be void or unenforceable in whole or in part or if this Agreement contains an omission, then such omission
    shall be remedied or such void or unenforceable provisions shall be replaced, respectively, by valid and enforceable provisions that will achieve, within the framework of what is legally permissible, as far as possible the economic business intentions
    of the Parties according to the sense and purpose of this Agreement. However the remainder of this Agreement will remain in full force and effect, provided that the material interests of the Parties are not affected, i.e. the Parties would presumably
    have concluded this Agreement without the void or unenforceable provisions or omission, if they had considered the matter at the outset.

   
   

   
  
    -40-

    
      
 

  

   

   
  	

        	21.13	Waiver

   
  The failure by either Party to require strict performance or observance of any obligation, term, provision or condition under this Agreement will neither constitute
    a waiver thereof nor affect in any way the right of the respective Party to require such performance or observance. The waiver by either Party of a breach of any obligation, term, provision or condition hereunder shall not constitute a waiver of any
    subsequent breach thereof or of any other obligation, term, provision or condition.

   
   

   
  	

        	21.14	Appendices

   
  All Appendices to this Agreement shall form an integral part to this Agreement.

   
   

   
  	

        	21.15	Interpretation

   
  Except where the context expressly requires otherwise, (i) the use of any gender herein shall be deemed to encompass references to either or both genders, and the
    use of the singular shall be deemed to include the plural (and vice versa), (ii) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (iii) the word “will” shall be construed to have the
    same meaning and effect as the word “shall”, (iv) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended,
    supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (v) any reference herein to any Party or Third Party or person shall be construed to include the Party’s or Third
    Party’s or person’s successors and assigns, (vi) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (vii) all references
    herein to Articles, Sections or Appendices shall be construed to refer to Articles, Sections or Appendices of this Agreement, and references to this Agreement include all Appendices hereto, (viii) the word “notice” means notice in writing (whether or
    not specifically stated) and shall include notices, consents, approvals and other written communications contemplated under this Agreement, (ix) provisions that require that a Party, the Parties or any Committee hereunder “agree”, “consent” or
    “approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter, approved minutes or otherwise (but excluding instant messaging), (x) references to any specific law, rule or
    regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement or successor law, rule or regulation thereof, and (xi) the term “or” shall be interpreted in the inclusive
    sense commonly associated with the term “and/or.”

   
   

   
  	

        	21.16	Invoices

   
  All invoices that are required or permitted hereunder shall be in writing and sent by Roche to Company at the following address or other address as Company may later
    provide:

   
   

   
  John Quisel, CEO (jquisel@discmedicine.com) with a copy to AP@discmedicine.com

   
   

   
  
    -41-

    
      
 

  

   

   
  	

        	21.17	Notice

   
  All notices that are required or permitted hereunder shall be in writing and sufficient if delivered personally, 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:	Disc Medicine, Inc.

          150 Cambridge Park Drive, Suite 103

          Cambridge, Massachusetts 02140, U.S.A.

          Attention:  John Quisel, CEO

          Telephone:  [***]
	 	 
	With a copy to:	Ropes & Gray LLP

          Prudential Tower

          800 Boylston Street

          Boston, Massachusetts 02199, U.S.A.

          Attention:  Marc A. Rubenstein

          Telephone:  [***]
	 	 
	if to Roche, to:	F. Hoffmann-La Roche Ltd

          Grenzacherstrasse 124

          4070 Basel

          Switzerland

          Attn:  Legal Department

          Facsimile No.:  [***]
	 	 
	and:	Hoffmann-La Roche Inc.

          150 Clove Road, Suite 8

          Little Falls

          New Jersey 07424, U.S.A.

          Attn. Corporate Secretary

          Facsimile No.:  [***]

   
   

   
  or to such other address as the Party to whom notice is to be given may have furnished to the other Party in writing in accordance herewith.

   
   

   
  [Signature Page Follows]

   
   

   
  
    -42-

    
      
 

  

   

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

   
   

   
  	 	Disc Medicine, Inc.	 
	 	 	 
	 	/s/ John Quisel	 
	 	 	 
	 	Name: John Quisel	 
	 	 	 
	 	Title: President and Chief Executive Officer	 

   
   

   
  	 	F. Hoffmann-La Roche Ltd	 	 	 
	 	 	 	 	 
	 	/s/ Vikas Kabra	 	/s/ Barbara Shroeder	 
	 	 	 	 	 
	 	Name: Vikas Kabra	 	Name: Barbara Shroeder	 
	 	 	 	 	 
	 	Title: Global Head Transactions	 	Title: Authorized Signatory	 

   
    

   
  	 	Hoffmann-La Roche Inc.	 
	 	 	 
	 	/s/ John Parise	 
	 	 	 
	 	Name: John Parise	 
	 	 	 
	 	Title: Authorized Signatory	 

   
   

   
  
    -43-

    
      
 

  

   

   
  Appendix 1.57

   
   

   
  Roche Know-How

   
   

   
  All Know-How embodied in the documents referenced in the bitopertin data room index, the first and last pages of which are shown.

   
   

   
  
     

    
      
 

  

   

   
  Appendix 1.57 - Roche Know-How

   
   

   
  [***]

   
   

   
  
     

    
      
 

  

   

   
  Appendix 1.58

   
   

   
  Roche Patent Rights

   
   

   
  Status: March 2021

   
   

   
  [***]

   
   

   
  
     

    
      
 

  

   

   
  Appendix 4.3

   
   

   
  GMP Materials

   
   

   
  [***]

   
   

   
  
     

    
      
 

  

   

   
  Appendix 18.3

     Initial Press Release Template

   
   

   
  Disc Medicine Expands Hematology Pipeline with Worldwide Licensing Agreement for Bitopertin, a First-in-Class Modulator of Heme Synthesis

   
   

   
  Clinical-Stage Program is Positioned to Enter Phase 2 Study in Erythropoietic Protoporphyria (EPP)

   
   

   
  Cambridge, MA., [DATE] - Disc Medicine, Inc. announced today that it has entered into an exclusive worldwide licensing agreement with F. Hoffmann-La Roche Ltd for the
    development and commercialization of bitopertin, an orally administered GlyT1 inhibitor with demonstrated effects on the heme biosynthesis pathway. Disc Medicine intends to develop bitopertin as a treatment for hematologic diseases, initially for
    erythropoietic porphyrias (EP), a family of rare, debilitating and potentially life-threatening disorders caused by dysregulated heme biosynthesis in developing red blood cells.

   
   

   
  “This collaboration is a major milestone in establishing Disc Medicine as a leader in hematology and enables us to target heme synthesis, a fundamental biological pathway of
    red blood cells that is highly complementary to our existing programs in iron homeostasis,” said John Quisel, JD, PhD, President and Chief Executive Officer of Disc Medicine. “Importantly, the well-established clinical safety profile of bitopertin will
    allow us to move rapidly into patient studies of several serious, hematologic diseases.”

   
   

   
  Under the terms of the agreement, Disc Medicine will obtain exclusive, global rights to and be responsible for all development, manufacturing, and commercialization of
    bitopertin and related back up compounds. Roche will receive an upfront payment from Disc Medicine and potential development, regulatory, and commercial milestones totaling in excess of $200 million. Roche is also eligible to receive tiered royalties
    based on net revenues, at a rate ranging from the high single digits to high teens, and a proportion of proceeds from future transactions related to bitopertin. Disc will engage with regulatory authorities to initiate patient studies in early 2022.

   
   

   
  About Erythropoietic Porphyrias

   
   

   
  Erythropoietic porphyrias (EPs) are a family of ultra-rare, debilitating and potentially life-threatening diseases caused by mutations that affect the heme synthesis pathway.
    This results in the toxic accumulation of porphyrins that are activated when patients are exposed to sunlight and cause oxidative damage to surrounding tissues. EPs are characterized by severe cutaneous sensitivity that manifests as attacks of intense,
    burning pain, associated with blistering, edema and disfigurement that often persist. Patients also develop gastrointestinal complications from accumulation of porphyrins, including gallstones and liver failure in 5-20% of patients. There is no
    approved disease-modifying therapy and the only cure is hematopoietic stem cell transplant. The current approach to patient care involves taking extreme measures to avoid daylight, such as restricting outdoor activities to nighttime or using protective
    clothing and opaque shields, and management of pain. The first signs typically manifest in early childhood and are lifelong, having a major impact on the well-being, psychosocial development and daily lives of patients and their caregivers.
    Erythropoietic porphyrias comprise three subtypes: Erythropoietic protoporphyria (EPP), X-linked protoporphyria (XLPP), and Congenital Erythropoietic Porphyria (CEP).

   
   

   
  
     

    
      
 

  

   

   
  About Bitopertin

   
   

   
  Bitopertin is a clinical-stage, orally administered small molecule inhibitor of glycine transporter 1 (GlyT1). Glycine is an essential precursor for heme biosynthesis and
    GlyT1 is required to maintain adequate levels of intracellular glycine in developing erythrocytes. As a modulator of heme synthesis, bitopertin has the potential to provide benefit for a range of disorders caused by imbalances in the production of heme
    and its pathway intermediates. Bitopertin has been evaluated in over 4,000 healthy volunteers and patients in over 30 clinical trials across multiple indications, including several Phase 2 and 3 trials in psychiatric disorders and in a rare blood cell
    disorder and has a well-defined safety profile. Although CNS efficacy was not established in these studies, bitopertin demonstrated marked effects on heme synthesis. Moreover, in preclinical studies conducted by Disc Medicine, inhibition of GlyT1 by
    bitopertin was shown to decrease levels of the metabolites that are the underlying cause of EP. Bitopertin is an experimental agent and is not approved for use as a therapy in any jurisdiction worldwide.

   
   

   
  About Disc Medicine

   
   

   
  Disc Medicine is a biopharmaceutical company dedicated to transforming the lives of patients with hematologic disorders. We are building a unique portfolio of innovative,
    first-in-class therapeutic candidates that affect fundamental pathways of red blood cell biology. We are committed to developing treatments that empower and bring hope to the many patients who suffer from hematologic diseases. For more information,
    please visit www.discmedicine.com.Exhibit 10.3

   
   

   
  Certain identified information has been excluded from this exhibit because it is both not material and is the type
          that the registrant treats as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”.

   
   

   
  LICENSE AGREEMENT

   
   

   
  between

   
   

   
  ABBVIE DEUTSCHLAND GMBH & CO. KG

   
   

   
  and

   
   

   
  DISC MEDICINE, INC.

   
   

   
  Dated as of September 13, 2019

   
  
     

    
      
 

  

  
  TABLE OF CONTENTS

   
   

   
  	Article 1	DEFINITIONS	1

        
	Article 2	GRANT OF RIGHTS	8

        
	2.1	Grants to Licensee	8

        
	2.2	Sublicenses	9

        
	2.3	Third Party Agreements	9

        
	2.4	No Other Rights Granted	9

        
	Article 3	DEVELOPMENT, REGULATORY AND COMMERCIALIZATION ACTIVITIES	10

        
	3.1	Development	10

        
	3.2	Regulatory Matters	10
	3.3	Records; Reports; Alliance Manager	11
	3.4	Commercialization	11
	3.5	Supply of Licensed Compounds	12
	3.6	Subcontracting	12
	3.7	Know-How Transfer	13
	3.8	Non-Compete	13
	Article 4	PAYMENTS AND RECORDS	13
	4.1	Upfront Payment	13
	4.2	Development Milestones	13
	4.3	Commercialization Milestones	14
	4.4	Sales-Based Milestones	14
	4.5	Royalties	14
	4.6	Withholding Taxes	15
	4.7	Indirect Taxes	15
	4.8	Interest on Late Payments	15
	4.9	Financial Records	16
	4.10	Audit	16
	4.11	Audit Dispute	16
	4.12	Confidentiality	16

        
	4.13	No Other Compensation	16

        
	Article 5	INTELLECTUAL PROPERTY	17

        
	5.1	Ownership of Intellectual Property	17

        
	5.2	Maintenance and Prosecution of Patents	17

        
	5.3	Enforcement of Patents	19

        

   
  
    i 

    
      
 

  

   

   
  	5.4	Infringement Claims by Third Parties	20
	5.5	Invalidity or Unenforceability Defenses or Actions	20
	5.6	Inventor’s Remuneration	20
	5.7	AbbVie Technology	20
	Article 6	PHARMACOVIGILANCE	21
	6.1	Pharmacovigilance Activities	21
	Article 7	CONFIDENTIALITY AND NON-DISCLOSURE	21
	7.1	Confidentiality Obligations	21
	7.2	Permitted Disclosures	22
	7.3	Securities Filings and other Disclosures Required by Law	22
	7.4	Use of Name	23
	7.5	Public Announcements	23
	7.6	Publications	23
	7.7	Trade Secrets	24
	7.8	Return of Confidential Information	24
	7.9	Survival	24
	Article 8	REPRESENTATIONS AND WARRANTIES	24
	8.1	Mutual Representations and Warranties	24
	8.2	Additional Representations and Warranties of AbbVie	25
	8.3	Additional Representations and Warranties of Licensee	25
	8.4	DISCLAIMER	26

        
	Article 9	INDEMNITY	27

        
	9.1	Indemnification of AbbVie	27

        
	9.2	Indemnification of Licensee	27

        
	9.3	Notice of Claim	27

        
	9.4	Control of Defense	27

        
	9.5	Special, Indirect, and Other Losses	29

        
	9.6	Insurance	29

        
	Article 10	TERM AND TERMINATION	30
	10.1	Term	30
	10.2	Termination for Material Breach	30
	10.3	Additional Termination by AbbVie and Licensee	30
	10.4	Termination for Bankruptcy, Insolvency or Similar Event	31
	10.5	Termination in Entirety	31
	10.6	Transition Assistance	32

   
  
    ii 

    
      
 

  

   

   
  	10.7	Remedies	33
	10.8	Accrued Rights; Surviving Obligations	33
	Article 11	
          MISCELLANEOUS

        	33
	11.1	Force Majeure	33
	11.2	Export Control	33
	11.3	Assignment	34
	11.4	Severability	34
	11.5	Governing Law, Jurisdiction and Service	34
	11.6	Dispute Resolution	34
	11.7	Notices	35
	11.8	Entire Agreement; Amendments	36

        
	11.9	Waiver and Non-Exclusion of Remedies	36

        
	11.10	English Language	36

        
	11.11	No Benefit to Third Parties	36

        
	11.12	Further Assurance	36

        
	11.13	Relationship of the Parties	36

        
	11.14	Performance by Affiliates and Sublicensees	37

        
	11.15	Counterparts; Facsimile Execution	37

        
	11.16	References	37

        
	11.17	Construction	37

        

   
   

   
  SCHEDULES

   
   

   
  	Schedule 1.3	AbbVie Know-How
	Schedule 1.4	AbbVie Patents
	Schedule 1.54	Licensed Compounds
	Schedule 3.5.1	Assignment of Existing Inventory
	Schedule 7.5	Form of Press Release
	Schedule 11.6.2	ADR Procedures

   
  
    iii 

    
      
 

  

  LICENSE AGREEMENT

   
   

   
  This License Agreement (the “Agreement”) is made and entered into effective as of September 13, 2019 (the “Effective
        Date”) by and between AbbVie Deutschland GmbH & Co. KG (“AbbVie”), and Disc Medicine, Inc., a Delaware corporation (“Licensee”). AbbVie and Licensee are sometimes referred to herein individually as a “Party” and
      collectively as the “Parties.”

   
   

   
  RECITALS

   
   

   
  WHEREAS, AbbVie controls certain intellectual property rights with respect to the Licensed Compounds (as defined herein) and
      Licensed Products (as defined herein) in the Territory (as defined herein); and WHEREAS, AbbVie wishes to grant to Licensee, and Licensee wishes to take, a license under such intellectual property rights to develop and commercialize Licensed
      Compounds and Licensed Products in the Territory, in each case in accordance with the terms and conditions set forth below.

   
   

   
  NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good
      and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows:

   
   

   
  Article 1

      DEFINITIONS

   
   

   
  Unless otherwise specifically provided herein, the following terms shall have the following meanings:

   
   

   
  1.1.        “AbbVie” has the meaning set forth in the preamble hereto.

   
   

   
  1.2.        “AbbVie Indemnitees” has the meaning set forth in Section 9.1.

   
   

   
  1.3.        “AbbVie Know-How” means all Information Controlled by AbbVie or any of its Affiliates as of the Effective
      Date that is not generally known and is necessary for the Development, Manufacture, or Commercialization of a Licensed Compound or Licensed Product [***] as listed in Schedule 1.3.

   
   

   
  1.4.        “AbbVie Patents” means: (a) the Patents set forth in Schedule 1.4 that are Controlled by AbbVie or
      any of its Affiliates as of the Effective Date, as well as any Patents issuing therefrom; (b) all Patent applications filed after the Effective Date, as well as any Patents issuing therefrom, that directly claim priority to any of the Patents in the
      foregoing clause (a); and (c) all Patent term extensions, supplementary protection certificates, or equivalent rights relating to clauses (a) and (b), by or on behalf of the Parties under this Agreement.

   
   

   
  1.5.        [***]

   
   

   
  1.6.        “Accounting Standards” with respect to a Party means that such Party shall maintain records and books of
      accounts in accordance with United States Generally Accepted Accounting Principles.

   
   

   
  1.8.        “Affiliate” means, with respect to a Party, any Person that, directly or indirectly, through one or more
      intermediaries, controls, is controlled by or is under common control with such Party. For purposes of this definition, “control” and, with correlative meanings, the terms “controlled by” and “under common control with” means (a) the possession,
      directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by contract relating to voting rights or corporate governance, or otherwise; or (b) the ownership,
      directly or indirectly, of more than fifty percent (50%) of the voting securities or other ownership interest of a business entity (or, with respect to a limited partnership or other similar entity, its general partner or controlling entity). For
      purposes of this Agreement, Atlas Venture, its Affiliates and its and their respective portfolio companies shall not be deemed to be an Affiliate of Licensee or any of Licensee’s Affiliates.

   
  
     

    
      
 

  

  
   

   
  1.9.        “Agreement” has the meaning set forth in the preamble hereto.

   
   

   
  1.10.       “Alliance Manager” has the meaning set forth in Section 3.3.3.

   
   

   
  1.11.       “Applicable Law” means federal, state, local, national and supra-national laws, statutes, rules, and
      regulations, including any rules, regulations or other requirements of the Regulatory Authorities, major national securities exchanges or major securities listing organizations, that may be in effect from time to time during the Term and applicable
      to a particular activity or country or other jurisdiction hereunder.

   
   

   
  1.12.       “Audit Arbitrator” has the meaning set forth in Section 4.11.

   
   

   
  1.13.       “Authorized Sublicense” has the meaning set forth in Section 2.2.1.

   
   

   
  1.14.       “Breaching Party” has the meaning set forth in Section 10.2.1.

   
   

   
  1.15.       “Business Day” means a day other than a Saturday or Sunday on which banking institutions in New York, New
      York are open for business.

   
   

   
  1.16.       “Calendar Quarter” means each successive period of three (3) calendar months commencing on January 1, April
      1, July 1 and October 1.

   
   

   
  1.17.       “Calendar Year” means each successive period of twelve (12) calendar months commencing on January 1 and
      ending on December 31.

   
   

   
  1.18.       “Combination Product” means a Licensed Product that is: (a) sold in the form of a combination that contains
      or comprises one or more Other Active Ingredients (whether co-formulated or co-packaged or otherwise sold for a single price) other than a Licensed Compound in the Licensed Product; (b) sold for a single price together with any (i) delivery device or
      component therefor, (ii) diagnostic product, process, service, or therapy, or (iii) product, process, service, or therapy other than the Licensed Product; or (c) defined as a “combination product” by the FDA pursuant to 21 C.F.R. §3.2(e) or its
      foreign equivalent.

   
   

   
  1.19.       “Commercialization” means any and all activities directed to the preparation for sale of, offering for sale
      of, or sale of a Licensed Compound or Licensed Product, including activities related to marketing, promoting, distributing, and importing such Licensed Compound or Licensed Product, and interacting with Regulatory Authorities regarding any of the
      foregoing. For clarity, Commercialization does not include Manufacturing. When used as a verb, “to Commercialize” and “Commercializing” means to engage in Commercialization, and “Commercialized” has a corresponding meaning.

   
   

   
  1.20.       “Commercially Reasonable Efforts” means [***].

   
   

   
  1.21.       “Confidential Information” means any technical, business, or other information or data provided orally,
      visually, in writing or other form by or on behalf of one Party to the other Party in connection with this Agreement, whether prior to, on, or after the Effective Date, including information relating to the terms of this Agreement, a Licensed
      Compound or any Licensed Product, any Exploitation of a Licensed Compound or any Licensed Product, any Information with respect thereto developed by or on behalf of the disclosing Party or its Affiliates (including AbbVie Know-How and Reversion
      Technology, as applicable), or the scientific, regulatory or business affairs or other activities of either Party.

   
  
    2 

    
      
 

  

   

   
  1.22.       “Control” means, with respect to any item of Information, material, Patent, or other intellectual property
      right existing on or after the Effective Date or during the Term, possession of the right, whether directly or indirectly, and whether by ownership, (sub)license or otherwise (other than by operation of the license and other grants in Section 2.1
      (but not assignment)), to grant a license, sublicense or other right to or under such Information, material, Patent, or other intellectual property right as provided for herein without violating the terms of any agreement or other arrangement with
      any Third Party in existence as of the time such Party would be required hereunder to grant such (sub)license or rights or triggering any payment obligation to a Third Party. Notwithstanding the foregoing, no Information, material, Patents or other
      intellectual property rights will be “Controlled” by a Party hereunder if such Information, material, Patents or other intellectual property rights are owned or in-licensed by a Third Party that becomes an Affiliate of such Party after the Effective
      Date as a result of such Party (a) acquiring such Third Party or a portion of the business of such Third Party or (b) being acquired by such Third Party (in each case, whether by merger, stock purchase or purchase of assets).

   
   

   
  1.23.       “Convicted Individual” or “Convicted Entity” has the meaning set forth in Section 8.3.3(d).

   
   

   
  1.24.       “CREATE Act” has the meaning set forth in Section 5.2.6.

   
   

   
  1.25.       “Debarred Entity” has the meaning set forth in Section 8.3.3(b).

   
   

   
  1.26.       “Debarred Individual” has the meaning set forth in Section 8.3.3(a).

   
   

   
  1.27.       “Default Notice” has the meaning set forth in Section 10.2.1.

   
   

   
  1.28.       “Development” means all activities related to research, pre-clinical and other non- clinical testing, test
      method development and stability testing, toxicology, formulation, process development, manufacturing scale-up, qualification and validation, quality assurance/quality control, clinical studies, statistical analysis and report writing, the
      preparation and submission of Drug Approval Applications, regulatory affairs with respect to the foregoing and all other activities necessary or reasonably useful or otherwise requested or required by a Regulatory Authority as a condition or in
      support of obtaining or maintaining a Regulatory Approval. When used as a verb, “Develop” means to engage in Development.

   
   

   
  1.29.       “Dispute” has the meaning set forth in Section 11.6.

   
   

   
  1.30.       “Dollars” or “$” means United States Dollars.

   
   

   
  1.31.       “Drug Approval Application” means a New Drug Application or Biologics License Application as defined in the
      FFDCA, or any corresponding foreign application in the Territory.

   
   

   
  1.32.       “Effective Date” has the meaning set forth in the preamble hereto.

   
   

   
  1.33.       “EMA” means the European Medicines Agency and any successor agency or authority having substantially the
      same function.

   
  
    3 

    
      
 

  

   

   
  1.34.       “European Union” means the economic, scientific, and political organization of member states of the
      European Union as it is constituted as of the Effective Date or from time to time, and any successor thereto.

   
   

   
  1.35.       “Excluded Field” means [***].

   
   

   
  1.36.       “Excluded Individual” or “Excluded Entity” has the meaning set forth in Section 8.3.3(c).

   
   

   
  1.37.       “Exploit” or “Exploitation” means to make, have made, import, use, sell, or offer for sale,
      including to research, Develop, Commercialize, register, Manufacture, have Manufactured, hold, or keep (whether for disposal or otherwise), have used, export, transport, distribute, promote, market, or have sold or otherwise dispose of.

   
   

   
  1.38.       “FDA” means the United States Food and Drug Administration and any successor agency or authority having
      substantially the same function.

   
   

   
  1.39.       “FDA’s Disqualified/Restricted List” has the meaning set forth in Section 

   
   

   
  1.40.       “FFDCA” means the United States Federal Food, Drug, and Cosmetic Act, 21 U.S.C. §301 et seq., as
      amended from time to time, together with any rules, regulations and requirements promulgated thereunder (including all additions, supplements, extensions, and modifications thereto).

   
   

   
  1.41.       “Field” means all human and non-human diagnostic, prophylactic, and therapeutic uses, other than uses in
      the Excluded Field.

   
   

   
  1.42.       “First Commercial Sale” means [***].

   
   

   
  1.43.       “FTE” means the equivalent of the work of [***] (consisting of [***] per Calendar Year).

   
   

   
  1.44.       “Improvement” means improved antibodies containing derivatives or modifications of, or enhancements to, an
      antibody Controlled by AbbVie or its Affiliates and set forth on Schedule 1.54 which improved antibodies specifically target RGMc as their primary mode of action, including all fragments thereof that specifically bind the RGMc target.

   
   

   
  1.45.       “Improvement Patent” means any Patent claiming any Improvement to a Licensed Compound that is conceived,
      discovered, developed, or otherwise made by or on behalf of Licensee, its Affiliates or Sublicensees.

   
   

   
  1.46.       “IND” means an application filed with a Regulatory Authority for authorization to commence human clinical
      studies, including (a) an Investigational New Drug Application as defined in the FFDCA or any successor application or procedure filed with the FDA, (b) any clinical trial application or other equivalent of a United States IND in other countries or
      regulatory jurisdictions, and (c) all supplements, amendments, variations, extensions and renewals thereof that may be filed with respect to the foregoing.

   
   

   
  1.47.       “Indemnification Claim Notice” has the meaning set forth in Section 9.3.

   
   

   
  1.48.       “Indirect Taxes” has the meaning set forth in Section 4.7.

   
  
    4 

    
      
 

  

   

   
  1.49.       “Indemnified Party” has the meaning set forth in Section 9.3.

   
   

   
  1.50.       “Information” means all technical and scientific information, trade secrets, methods, processes, practices,
      formulae, specifications, data and results, including study designs and protocols; assays; and biological methodology; in each case to the extent confidential, proprietary, patented or patentable, in written or electronic form.

   
   

   
  1.51.       “Joint IP” has the meaning set forth in Section 5.1.

   
   

   
  1.52.       “Joint Patent” has the meaning set forth in Section 5.1.

   
   

   
  1.53.       “LIBOR” means the London Interbank Offered Rate for deposits in United States Dollars having a maturity of
      one month published by the British Bankers’ Association, as adjusted from time to time on the first London Business Day of each month.

   
   

   
  1.54.       “Licensed Compounds” means: (a) all of the antibodies Controlled by AbbVie or its Affiliates and set forth
      on Schedule 1.54 [***].

   
   

   
  1.55.       “Licensed Product” means any pharmaceutical product comprising or containing (a) any Licensed Compound or
      (b) an antibody or other compound that is covered by a claim of a Joint Patent [***] (a) and (b), alone or in combination with one or more other active ingredients (“Other Active Ingredients”), in any and all forms, in current and future
      delivery systems, dosage forms and strengths, and formulations, including any improvements thereto.

   
   

   
  1.56.       “Licensee” has the meaning set forth in the preamble hereto.

   
   

   
  1.57.       “Licensee Indemnitees” has the meaning set forth in Section 9.2.

   
   

   
  1.58.       “Licensee Prosecuted Infringement” has the meaning set forth in Section 5.3.1.

   
   

   
  1.59.       “Losses” has the meaning set forth in Section 9.1.

   
   

   
  1.60.       “Major Market” means [***].

   
   

   
  1.61.       “Manufacture” and “Manufacturing” means all activities related to the production, manufacture,
      processing, purifying, formulating, filling, finishing, packaging, labeling, shipping, and holding of a Licensed Compound, any Licensed Product, or any intermediate thereof, including process development, process qualification and validation,
      scale-up, pre-clinical, clinical and commercial manufacture and analytic development, product characterization, stability testing, quality assurance, and quality control. For clarity, Manufacturing does not include Commercialization.

   
   

   
  1.62.       “Net Sales” means [***].

   
   

   
  Net Sales shall not include [***] in similar quantities.

   
   

   
  Net Sales for any Combination Product will be calculated on a country-by-country basis by multiplying actual Net Sales of such
      Combination Product [***]. If such Licensed Product is [***].

   
   

   
  Subject to the above, Net Sales shall be calculated in accordance with the standard internal policies and procedures of Licensee, its
      Affiliates, or Sublicensees, which must be in accordance with Accounting Standards.

   
  
    5 

    
      
 

  

   

   
  1.63.       “Non-Breaching Party” has the meaning set forth in Section 10.2.1.

   
   

   
  1.64.       “Other Active Ingredients” has the meaning set forth in Section 1.55.

   
   

   
  1.65.       “Party” and “Parties” has the meaning set forth in the preamble hereto.

   
   

   
  1.66.       “Patent Challenge” has the meaning set forth in Section 10.3.1.

   
   

   
  1.67.       “Patents” means (a) all national, regional and international patents and patent applications, including
      provisional patent applications; (b) all patent applications filed either from such patents, patent applications or provisional applications or from an application claiming priority from either of these, including divisionals, continuations,
      continuations-in-part, provisionals, converted provisionals and continued prosecution applications; (c) any and all patents that have issued or in the future issue from the foregoing patent applications ((a) and (b)), including utility models, petty
      patents and design patents and certificates of invention; (d) any and all extensions or restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions (including any patent
      term adjustments, patent term extensions, supplementary protection certificates and the like) of the foregoing patents or patent applications ((a), (b), and (c)); and (e) any similar rights, including so-called pipeline protection or any importation,
      revalidation, confirmation or introduction patent or registration patent or patent of additions to any of such foregoing patent applications and patents.

   
   

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

   
   

   
  1.69.       “Phase II Trial” means a human clinical trial of a Licensed Product conducted in any country in the
      Territory (whether a standalone trial or a stage of a “Phase I/II” clinical trial described in the protocol as the “Phase II portion”, or a stage of a “Phase II/III” clinical trial described in the protocol as the “Phase II portion”) the principal
      purpose of which is to evaluate the clinical efficacy, safety, pharmacodynamics or biological activity of such product in patients with the disease or condition under study, as further described in 21 CFR § 312.21(b), as amended, or a similar
      clinical study in a country other than the United States, and is prospectively designed to generate sufficient data that may permit commencement of Phase III Trial, or that would otherwise satisfy the requirements of 21 C.F.R. § 312.21(b), as
      amended, or its foreign equivalent.

   
   

   
  1.70.       “Phase III Trial” means a human clinical trial of a Licensed Product (whether a standalone trial or a stage
      of a “Phase II/III” clinical trial described in the protocol as the “Phase III portion”) on a sufficient number of subjects in an indicated patient population that is designed to establish that a Licensed Product is safe and efficacious for its
      intended use and to determine the benefit/risk relationship, warnings, precautions, and adverse reactions that are associated with such product in the dosage range to be prescribed, which trial is intended to support Regulatory Approval of such
      Licensed Product, including the trials referred to in 21 C.F.R. § 312.21(c), as amended, or its foreign equivalent.

   
   

   
  1.71.       “Product Infringement” has the meaning set forth in Section 5.3.1.

   
   

   
  1.72.       “Product Trademarks” means the Trademarks to be used by Licensee or its Affiliates or its or their
      respective Sublicensees for the Commercialization of Licensed Products in the Territory and any registrations thereof or any pending applications relating thereto in the Territory (excluding, in any event, any trademarks, service marks, names or
      logos that include any corporate name or logo of the Parties or their Affiliates or Sublicensees).

   
  
    6 

    
      
 

  

   

   
  1.73.       “Regulatory Approval” means, with respect to a country or other jurisdiction in the Territory, any and all
      approvals (including Drug Approval Applications), licenses, registrations, or authorizations of any Regulatory Authority necessary to commercially distribute, sell, or market a Licensed Compound or Licensed Product in such country or other
      jurisdiction, including, where applicable, (a) pricing or reimbursement approval in such country or other jurisdiction, (b) pre- and post-approval marketing authorizations (including any prerequisite Manufacturing approval or authorization related
      thereto), and (c) labeling approval.

   
   

   
  1.74.       “Regulatory Authority” means any applicable supra-national, federal, national, regional, state, provincial,
      or local governmental or regulatory agencies, departments, bureaus, commissions, councils, or other government entities (e.g., the FDA and EMA) regulating or otherwise exercising authority with respect to activities contemplated in this Agreement,
      including the Exploitation of a Licensed Compound or Licensed Product in the Territory.

   
   

   
  1.75.       “Regulatory Documentation” means all (a) INDs and IND applications, Drug Approval Applications, Regulatory
      Approvals and (b) correspondence and reports submitted to or received from Regulatory Authorities (including minutes and official contact reports relating to any communications with any Regulatory Authority) and adverse event files, in each case ((a)
      and (b)) relating solely to any Reversion Product.

   
   

   
  1.76.       “Regulatory Exclusivity” means with respect to a Licensed Product in a country or other jurisdiction in the
      Territory, any additional market protection, other than Patent protection, granted by a Regulatory Authority for such Licensed Product in such country or other jurisdiction which confers an exclusive Commercialization period during which Licensee or
      its Affiliates or Sublicensees can exclusively market and sell such Licensed Product in such country or other jurisdiction through such regulatory exclusivity right.

   
   

   
  1.77.       “Reversion License” has the meaning set forth in Section 10.5.2.

   
   

   
  1.78.       “Reversion Product” means all Licensed Products in the form that each such Licensed Product exists as of
      the effective date of termination of this Agreement (but excluding any Other Active Ingredients or other components in any Combination Products).

   
   

   
  1.79.       “Reversion Technology” means any Patents or Know-How Controlled by Licensee or any of its Affiliates that
      (a) claim (with respect to Patents) or specifically relate to (with respect to Know-How) any Reversion Product or its composition of matter or method of use, (b) are incorporated into any such Reversion Product, or (c) are otherwise reasonably
      necessary or have been used to Exploit any Reversion Product, in each case, as such Patents or Know-How exist and are incorporated into any such Reversion Product, in each case, as such Patents or Know-How exist as of the effective date of such
      termination of this Agreement (but including, for clarity, any other Patents that directly claim priority to any such Patents).

   
   

   
  1.80.       “RGMa” means Repulsive Guidance Molecule A, and refers to a glycosylphosphatidylinositol-anchored
      glycoprotein that exists in both membrane-bound and soluble forms. [***].

   
   

   
  1.81.       “RGMc” means membrane-associated or soluble protein involved in iron overload known as Repulsive Guidance
      Molecule C [***].

   
   

   
  1.82.       “Royalty Term” means, with respect to each Licensed Product and each country or other jurisdiction in the
      Territory, the period beginning on the date of the First Commercial Sale of such Licensed Product in such country or other jurisdiction, and ending on the latest to occur of (a) the latest to occur of (i) the expiration of the last-to-expire [***]
      Patent that includes a Valid Claim that covers such Licensed Product or the Exploitation thereof in such country or other jurisdiction, or (ii) the expiration of the last-to-expire [***] Patent in such country or other jurisdiction; (b) the
      expiration of Regulatory Exclusivity in such country or other jurisdiction for such Licensed Product, and (c) [***] the First Commercial Sale of the first Licensed Product in such country or other jurisdiction.

   
  
    7 

    
      
 

  

   

   
  1.83.       “Sanctioned Party List” has the meaning set forth in Section 8.3.4.

   
   

   
  1.84.       “Senior Officer” means, with respect to AbbVie, its Vice President of Discovery or his or her designee, and
      with respect to Licensee, its Chief Executive Officer.

   
   

   
  1.85.       [***].

   
   

   
  1.86.       “Sublicensee” means an Affiliate or Third Party that is granted a sublicense by Licensee under the grants
      in Section 2.1 as provided in Section 2.2.

   
   

   
  1.87.       “Term” has the meaning set forth in Section 10.1.1.

   
   

   
  1.88.       “Territory” means the entire world.

   
   

   
  1.89.       “Third Party” means any Person other than AbbVie, Licensee and their respective Affiliates.

   
   

   
  1.90.       “Third Party Claims” has the meaning set forth in Section 9.1.

   
   

   
  1.91.       “Trademark” means any word, name, symbol, color, designation or device or any combination thereof that
      functions as a source identifier, including any trademark, trade dress, brand mark, service mark, trade name, brand name, logo or business symbol, whether or not registered.

   
   

   
  1.92.       “United States” or “U.S.” means the United States of America and its territories and possessions
      (including the District of Columbia and Puerto Rico).

   
   

   
  1.93.       “Valid Claim” means [***].

   
   

   
  Article 2

      GRANT OF RIGHTS

   
   

   
  2.1              Grants to Licensee. Subject to Section 2.4, Section 5.2.1, Section 5.2.2, and the other terms and conditions
      of this Agreement, AbbVie hereby grants to Licensee an exclusive (including with regard to AbbVie and its Affiliates) license, with the right to grant sublicenses in accordance with Section 2.2, under the AbbVie
      Know-How, AbbVie Patents and AbbVie’s interest in the Joint IP, to Exploit the Licensed Compounds and Licensed Products in the Field in the Territory.

   
  
    8 

    
      
 

  

   

   
  2.2         Sublicenses.

   
   

   
  2.2.1.      Right to Grant Sublicenses. Licensee shall have the right to grant sublicenses through multiple tiers, under the licenses granted in Section 2.1 to its Affiliates and other Third Parties; provided
      that any such sublicenses shall be subject to AbbVie’s prior written consent for other Third Parties only (and not Affiliates) if such Third Party is not an Authorized Sublicensee (for which no consent is required), which consent shall not be
      unreasonably withheld, delayed (subject to this Section 2.2.1) or conditioned, and such consent or election to not provide consent shall in no event be delayed beyond [***] after written notice of such request has
      been received by AbbVie; provided for clarity, in the event that AbbVie fails to provide either its consent or election to not provide consent prior to the expiration of such [***], AbbVie will be deemed to have given its consent to sublicensing by
      Licensee as required by this Section 2.2.1. Licensee shall cause each Sublicensee to comply with the applicable terms and conditions of this Agreement. Licensee hereby guarantees the performance of its Affiliates
      and permitted Sublicensees that are sublicensed as permitted herein, and the grant of any such sublicense shall not relieve Licensee of its obligations under this Agreement, except to the extent they are satisfactorily performed by such Sublicensee.
      Any such permitted sublicenses shall be consistent with and expressly made subject to the terms and conditions of this Agreement. A copy of any sublicense agreement executed by Licensee (which may be redacted for terms that are not relevant to show
      compliance with this Agreement) shall be provided to AbbVie within [***] after its execution. As used herein, an “Authorized Sublicense” shall mean a pharmaceutical or biopharmaceutical company that in the year prior to the date of the
      sublicense agreement (a) had revenues of at least [***] and (b) had a research and development budget during such year that was [***].

   
   

   
  2.2.2.      Termination of Sublicenses. In the event of termination of this Agreement, any sublicense granted by Licensee pursuant to this Section 2.2 shall automatically be deemed to terminate.

   
   

   
  2.3         Third Party Agreements.

   
   

   
  2.3.1.      Neither Licensee nor any of its Affiliates shall enter into any agreement with a Third Party Sublicensee that is relevant to the Licensed Compounds or Licensed Products without including in such agreement a perpetual license to
      Licensee and its Affiliates, with the right to sublicense, under any Improvement Patents or Reversion Technology arising under such agreement and that are owned or controlled by such Sublicensee.

   
   

   
  2.3.2.      Neither Licensee nor any of its Affiliates shall enter into any agreement with a Third Party subcontractor that is relevant to the Licensed Compounds or Licensed Products without including in such agreement an obligation to assign
      ownership of, or a perpetual, sublicenseable license to, Licensee and its Affiliates Information and Patents that are created, conceived or discovered by such Third Party subcontractor in the performance of such agreement and that relates to the
      Exploitation of Licensed Compounds or Licensed Products; provided, however, that (i) with respect to an academic institution, university or non-profit institution, Licensee or its Affiliate may enter into such agreement on customary terms (i.e., at a
      minimum such agreement shall have an option to negotiate or obtain a license), and (ii) such obligation shall not apply to any improvements to the proprietary core or platform technology owned or in-licensed by any such Third Party subcontractor
      unless such improvements are necessary for the Exploitation of Licensed Compounds or Licensed Products.

   
   

   
  2.4         No Other Rights Granted. Except as expressly provided herein, neither Party grants any other right or license, including any rights or licenses to any Patents (or any corresponding worldwide family member), any Information,
      any corporate names, Trademarks or logos owned or used by such Party or any of its Affiliates, or any other Patent or intellectual property rights not otherwise expressly granted herein, whether by estoppel, implication or otherwise. Notwithstanding
      anything to the contrary, AbbVie grants no right or license with respect to Other Active Ingredients owned or controlled by AbbVie or its Affiliates.

   
  
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  Article 3

      DEVELOPMENT, REGULATORY AND COMMERCIALIZATION ACTIVITIES

   
   

   
  3.1         Development.

   
   

   
  3.1.1.      Ongoing Development. The Parties acknowledge and agree that additional Development will be required to obtain Regulatory Approvals for the Licensed Compounds or Licensed Products in the Territory. After the Effective Date,
      Licensee shall be solely responsible, in its sole discretion, for Development of the Licensed Compounds and the Licensed Products in the Territory.

   
   

   
  3.1.2.      Diligence. Licensee (itself or through its Affiliates or Sublicensees) shall use Commercially Reasonable Efforts to Develop and seek Regulatory Approvals for at least [***] Licensed Compound or Licensed Product in each of
      the Major Markets.

   
   

   
  3.1.3.      Development Costs. Licensee shall be solely responsible for all costs and expenses in connection with the Development of, and seeking, obtaining and maintaining Regulatory Approvals for, the Licensed Compounds and Licensed
      Products.

   
   

   
  3.1.4.      Applicable Law. Licensee shall, and shall cause its Affiliates to, comply with all Applicable Law with respect to the Development of Licensed Compounds and Licensed Products.

   
   

   
  3.2         Regulatory Matters.

   
   

   
  3.2.1.      Regulatory Activities.

   
   

   
  (a)            As between the Parties, Licensee shall have the sole responsibility, at its expense, for preparing, obtaining, and maintaining Drug Approval Applications (including the setting of the overall regulatory strategy therefor), other
      Regulatory Approvals and other submissions, and for conducting communications with the Regulatory Authorities, for Licensed Compounds or Licensed Products in the Territory (which shall include filings of or with respect to INDs and other filings or
      communications with the Regulatory Authorities). All Regulatory Approvals relating to the Licensed Compounds or Licensed Products with respect to the Territory shall be owned by, and shall be the sole property and held in the name of, Licensee or its
      Affiliate or Sublicensee or their respective designees.

   
   

   
  (b)            Licensee shall notify the AbbVie Alliance Manager promptly (but in no event later than forty-eight (48) hours) following its determination that any event, incident, or circumstance has occurred that may result in the need for a
      recall, market suspension, or market withdrawal of a Licensed Compound or Licensed Product in the Territory, and shall include in such notice the reasoning behind such determination, and any supporting facts. Licensee (or its Affiliate or
      Sublicensee) shall have the right to make the final determination whether to voluntarily implement any such recall, market suspension, or market withdrawal in the Territory; provided that prior to any implementation of such a recall, market
      suspension, or market withdrawal, Licensee shall consult with AbbVie and shall consider AbbVie’s comments in good faith. If a recall, market suspension, or market withdrawal of a Licensed Compound or Licensed Product is mandated by a Regulatory
      Authority in the Territory, Licensee (or its Affiliate or Sublicensee or their respective designees) shall initiate such a recall, market suspension, or market withdrawal of in compliance with Applicable Law. For all recalls, market suspensions, or
      market withdrawals undertaken pursuant to this Section 3.2.1(b), Licensee (or its Affiliate or Sublicensee or their respective designees) shall be solely responsible for the execution and all costs thereof.

   
  
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  3.3         Records; Reports; Alliance Manager.

   
   

   
  3.3.1.      Records. Licensee shall maintain records in sufficient detail and in good scientific manner appropriate for Patent and regulatory purposes, and in compliance with Applicable Law, which shall be materially complete and
      accurate and shall properly reflect all work done and results achieved in the performance of its Development, Manufacture and Commercialization activities by or on behalf of Licensee with respect to the Licensed Compound or Licensed Product. Such
      records shall be retained by Licensee for at least [***] after the termination of this Agreement, or for such longer period as may be required by Applicable Law.

   
   

   
  3.3.2.      Development Reports. At least twice per [***], Licensee shall provide the AbbVie Alliance Manager with a written report summarizing (a) the results and progress of Development activities it has performed, or caused to be
      performed, since the preceding report, (b) its Development activities in process, (c) the future activities it expects to initiate during the then-current Calendar Year, including timelines related thereto, (d) updates regarding regulatory matters,
      including an update of all Drug Approval Applications filed, in each case on a country by country basis, (e) the then-current annual Development budget and (f) such other information as AbbVie may reasonably request relating to the Development in
      order to enable AbbVie to assess Licensee’s compliance with its Development obligations under this Agreement respect to the Licensed Compounds and Licensed Products.

   
   

   
  3.3.3.      Alliance Manager. Within [***] following the Effective Date, each Party will appoint (and notify the other Party of the identity of) an alliance manager (each an “Alliance Manager”). Each Party may replace its Alliance
      Manager at any time by written notice to the other Party. The Alliance Managers will serve as the primary contact point between the Parties for the purpose of providing each Party with information on the progress of the Development and
      Commercialization of each Licensed Compound and Licensed Product (including, with respect to the AbbVie Alliance Manager, the recipient of the various reports required to be delivered by Licensee pursuant to this ARTICLE
        3) and facilitating the flow of information and otherwise facilitating communication between the Parties.

   
   

   
  3.4         Commercialization.

   
   

   
  3.4.1.      In General. Licensee (itself or through its Affiliates or Sublicensees) shall be solely responsible for Commercialization of the Licensed Products throughout the Territory at Licensee’s own cost and expense.

   
   

   
  3.4.2.      Diligence. Licensee (itself or through its Affiliates or Sublicensees) shall use Commercially Reasonable Efforts to (a) Commercialize at least [***] Licensed Product in each of the Major Markets, and (b) maximize Net Sales in
      each of the Major Markets. If at any time AbbVie has a reasonable basis to believe that Licensee is in material breach of its obligations under this Section 3.4.2, then AbbVie may so notify Licensee in writing,
      specifying the basis for its belief, and, without limitation to any other right or remedy available to AbbVie hereunder, at AbbVie’s request, the Parties shall meet within [***] after such notice to discuss in good faith AbbVie’s concerns and
      Licensee’s Commercialization plans with respect to a Licensed Product.

   
   

   
  3.4.3.      Statements and Compliance with Applicable Law. Licensee shall, and shall cause its Affiliates to, comply with all Applicable Law with respect to the Commercialization and Manufacturing of Licensed Compounds and Licensed
      Products. Licensee shall avoid, and shall cause its Affiliates, employees, representatives, agents, Sublicensees and distributors to avoid, taking, or failing to take, any actions that Licensee knows or reasonably should know would jeopardize the
      goodwill or reputation of AbbVie or the Licensed Products or any Trademark associated therewith. Without limitation to the foregoing, Licensee shall in all material respects conform its practices and procedures relating to the Commercialization of
      the Licensed Products and educating the medical community in the Territory with respect to the Licensed Products to any applicable industry association regulations and policies, as the same may be amended from time to time, and Applicable Law.

   
  
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  3.4.4.      Booking of Sales; Distribution. Licensee shall invoice and book sales, establish all terms of sale (including pricing and discounts) and warehousing, and distribute the Licensed Products in the Territory and perform or cause
      to be performed all related services. Licensee shall handle all returns, recalls, or withdrawals, order processing, invoicing, collection, distribution, and inventory management with respect to the Licensed Products in the Territory.

   
   

   
  3.4.5.      Commercialization Reports. Commencing upon filing a Drug Approval Application for a Licensed Product, Licensee shall provide to the AbbVie Alliance Manager, at least [***] per [***], a report summarizing (a) the
      Commercialization activities it or its Affiliates or Sublicensees has performed, or caused to be performed, during the applicable reporting period and on a Calendar Year-to-date basis for Licensed Products in the Territory; (b) its Commercialization
      activities in process and the future activities it expects to initiate during the then-current Calendar Year, including timelines related thereto; (c) a non-binding twenty-four month sales forecast on a regional basis for Net Sales for Licensed
      Products in the Territory; and (d) such other information as AbbVie may reasonably requested relating to the Commercialization of the Licensed Products in order to enable AbbVie to assess Licensee’s compliance with its Commercialization obligations
      under this Agreement respect to the Licensed Compounds and Licensed Products.

   
   

   
  3.5         Supply of Licensed Compounds.

   
   

   
  3.5.1.      Assignment of Existing Inventory. AbbVie hereby assigns to Licensee all of its right, title, and interest in and to its current inventory of the research grade materials and supporting materials of the Licensed Compounds that
      are (a) in the possession and Control of AbbVie or any of its Affiliates, (b) existing as of the Effective Date and (c) listed on Schedule 3.5.1. Promptly following the Effective Date, AbbVie shall deliver
      or have delivered such inventory to Licensee, at Licensee’s sole cost and expense EXW AbbVie’s warehouse (Incoterms 2010) at a facility reasonably agreed by the Parties. Any reimbursement to AbbVie for the cost to transport the assigned inventory to
      Licensee shall be made within [***] after notice from AbbVie of the amount to be reimbursed. LICENSEE HEREBY ACKNOWLEDGES THAT ANY INVENTORY DELIVERED PURSUANT TO THIS AGREEMENT ARE UNDERSTOOD TO BE EXPERIMENTAL IN NATURE. ABBVIE MAKES NO
      REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, TO THE INVENTORY AND IS PROVIDING THE INVENTORY “AS-IS”. ABBVIE DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
      LICENSEE ACKNOWLEDGES AND AGREES THAT THE LICENSED COMPOUND HAS NOT RECEIVED REGULATORY APPROVAL AND LICENSEE SHALL NOT SELL OR OTHERWISE USE THE INVENTORY OF LICENSED COMPOUND EXCEPT AS PERMITTED BY APPLICABLE LAW.

   
   

   
  3.5.2.      Supply of Licensed Compounds and Licensed Product. Except for the existing inventory, Licensee shall have the sole responsibility for, at its expense, Manufacturing (or having Manufactured) and supplying Licensed Compounds
      and Licensed Products for research, Development and Commercialization purposes in the Territory.

   
   

   
  3.6         Subcontracting. Licensee (or its Affiliates or Sublicensees) may subcontract with a Third Party to perform any or all of its obligations hereunder, provided that (a) no such permitted subcontracting shall relieve
      Licensee of any liability or obligation hereunder except to the extent satisfactorily performed by such subcontractor, and (b) the agreement pursuant to which Licensee engages any Third Party subcontractor must (i) be consistent in all material
      respects with this Agreement, and (ii) contain terms obligating such subcontractor to comply with the confidentiality, intellectual property, and all other relevant provisions of this Agreement.

   
  
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  3.7         Know-How Transfer.

   
   

   
  3.7.1.      AbbVie shall reasonably assist in the transfer of the AbbVie Know-How to Licensee for a period of [***] following the Effective Date; provided that AbbVie shall not be required to utilize more than [***] for such transfer
      (unless mutually agreed in writing by the Parties). Following completion of such transfer (or reaching such hour threshold), AbbVie shall have no further obligations with respect to the Licensed Compounds or Licensed Products except as expressly set
      forth herein.

   
   

   
  3.7.2.      If, after the [***] period provided for in Section 3.7.1, Licensee requires consulting support in connection with the transfer of the AbbVie Know-How, then, upon Licensee’s reasonable request,
      AbbVie will make its personnel reasonably available to Licensee to provide such consulting support for an additional period of up to [***]. Licensee shall reimburse AbbVie for the cost of personnel providing such support at a rate of [***] (or
      portion thereof) within [***] of invoicing by AbbVie.

   
   

   
  3.7.3.      The assistance and consulting support under Sections 3.7.1 and 3.7.2 shall be rendered by AbbVie without the requirement that AbbVie personnel visit the site of
      Licensee’s facilities or any Third Party contractors, unless AbbVie and Licensee agree in writing otherwise, in which case Licensee shall reimburse AbbVie its reasonable direct and indirect expenses in making such visits. The Parties shall generally
      communicate by means of telephone, email and video conference, as they may deem appropriate under the circumstances, in the fulfilment of their responsibilities under this Section 3.7.

   
   

   
  3.7.4.      Licensee will use all documents and files relating to the AbbVie Know-How only for purposes of exercising its rights and licenses with respect to Licensed Compounds and Licensed Products in accordance with the terms and conditions
      of this Agreement and Applicable Law and for no other purpose.

   
   

   
  3.8         Non-Compete.

   
   

   
  3.8.1.      During the Term, AbbVie shall not, and shall cause its Affiliates not to (a) enter into any agreement or other arrangement with any Third Party pursuant to which it grants such Third Party any license or other rights to Exploit any
      Licensed Compounds or Licensed Products in the Excluded Field, or (b) directly or indirectly, Exploit any Licensed Compounds or Licensed Products in the Excluded Field.

   
   

   
  Article 4

      PAYMENTS AND RECORDS

   
   

   
  4.1         Upfront Payment. In partial consideration of the rights granted by AbbVie to Licensee hereunder:

   
   

   
  4.1.1.      Licensee shall pay AbbVie [***] within [***] after the Effective Date; and

   
   

   
  4.1.2.      [***]

   
   

   
  4.2         Development Milestones. In partial consideration of the rights granted by AbbVie to Licensee hereunder, on a Licensed Product-by-Licensed Product basis, Licensee shall pay to AbbVie milestone payments within [***] after the
      first achievement of each of the following milestones for each Licensed Product, calculated as follows: [***].

   
  
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  The milestone payments in this Section 4.2 are payable [***] upon the first achievement of the applicable milestone for each Licensed Product.

   
   

   
  4.3         Commercialization Milestones. In partial consideration of the rights granted by AbbVie to Licensee hereunder, on a Licensed Product-by-Licensed Product basis, Licensee shall pay to AbbVie milestone payments within [***] after
      the first achievement of each of the following milestones for each Licensed Product, calculated as follows: [***]

   
   

   
  The milestone payments in this Section 4.3 are payable [***] upon the first achievement of the applicable milestone for each Licensed Product.

   
   

   
  4.4         Sales-Based Milestones. In partial consideration of the rights granted by AbbVie to Licensee hereunder, Licensee shall pay to AbbVie milestone payments within [***] after the first achievement of each of the following
      milestones, calculated as follows: [***].

   
   

   
  If, in a given Calendar Year more than one of the above Net Sales thresholds is exceeded, Licensee shall pay to AbbVie a separate milestone with
      respect to each threshold that is exceeded in such Calendar Year.

   
   

   
  4.5         Royalties.

   
   

   
  4.5.1.      Royalty Rates.

   
   

   
  (a)            In further consideration of the rights granted by AbbVie to Licensee hereunder, subject to the terms of this Section 4.5, on a Licensed Product by Licensed Product basis, and on a country by
      country basis, commencing upon the First Commercial Sale of a Licensed Product in the Territory and continuing for the applicable Royalty Term for such Licensed Product, Licensee shall pay to AbbVie a royalty equal to [***].

   
   

   
  (b)            If during the Royalty Term for a given Licensed Product, such Licensed Product is Exploited in a country or other jurisdiction and there is no Valid Claim of an AbbVie Patent, Improvement Patent or Joint Patent that claims or covers
      such Licensed Product in such country or other jurisdiction, the royalty rate set forth in Section 4.5.1(a) with respect to such country or other jurisdiction, shall be reduced to [***] of the royalty rate set
      forth in Section 4.5.1(a) solely with respect to Net Sales of such Licensed Product in such country or other jurisdiction.

   
   

   
  4.5.2.      Royalty Term. Licensee shall have no obligation to pay any royalty with respect to Net Sales of any Licensed Product in any country or other jurisdiction on or after the date on which the Royalty Term for such Licensed
      Product in such country or other jurisdiction has expired. For purposes of clarity, [***].

   
   

   
  4.5.3.      Royalty Payments and Reports. Licensee shall calculate all amounts payable to AbbVie pursuant to this Section 4.5 at the end of each Calendar Quarter, which amounts shall be converted to
      Dollars, in accordance Section 4.5.3. Licensee shall pay to AbbVie the royalty amounts due with respect to a given Calendar Quarter within [***] after the end of such Calendar Quarter. Each payment of royalties due
      to AbbVie shall be accompanied by a statement, certified by an executive officer of Licensee as accurate to the best of its ability and in accordance with Accounting Standards, setting forth (a) the amount of gross sales and Net Sales of each
      Licensed Product in each country or other jurisdiction in the Territory during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars), (b) a calculation of the amount of royalty payment due on
      such Net Sales for such Calendar Quarter, and (c) the amount of aggregate worldwide Net Sales of each Licensed Product for the Calendar Year. Without limiting the generality of the foregoing, Licensee shall require its Affiliates and Sublicensees to
      account for its Net Sales and to provide such reports with respect thereto as if such sales were made by Licensee.

   
  
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  4.5.4.      Mode of Payment; Offsets. All undisputed payments to either Party under this Agreement shall be made by deposit of Dollars in the requisite amount to such bank account as the receiving Party may from time to time designate by
      notice in writing to the paying Party. For the purpose of calculating any sums due under, or otherwise reimbursable pursuant to, this Agreement (including the calculation of Net Sales expressed in currencies other than Dollars), a Party shall convert
      any amount expressed in a foreign currency into Dollar equivalents using its, its Affiliate’s or Sublicensee’s standard conversion methodology consistent with Accounting Standards. Licensee shall have no right to offset, set off or deduct any amounts
      from or against the amounts due to AbbVie hereunder. All payments to a Party (or such Party’s Affiliates or designees) under this Agreement will be irrevocable, non-refundable and non-creditable.

   
   

   
  4.6         Withholding Taxes. Where any sum due to be paid to either Party hereunder is subject to any withholding or similar tax, the Parties shall use their commercially reasonable efforts to do all such acts and things and to sign
      all such documents as will enable them to take advantage of any applicable double taxation agreement or treaty. If there is no applicable double taxation agreement or treaty, or if an applicable double taxation agreement or treaty reduces but does
      not eliminate such withholding or similar tax, the payor shall remit such withholding or similar tax to the appropriate government authority, deduct the amount paid from the amount due to payee and secure and send to payee the best available evidence
      of the payment of such withholding or similar tax. Any such amounts deducted by the payor in respect of such withholding or similar tax shall be treated as having been paid by the payor for purposes of this Agreement. If withholding or similar taxes
      are paid to a government authority, each Party will provide the other such assistance as is reasonably required to obtain a refund of the withheld or similar taxes or obtain a credit with respect to such taxes paid.

   
   

   
  4.7         Indirect Taxes. All payments are exclusive of value added taxes, sales taxes, consumption taxes and other similar taxes (the “Indirect Taxes”). If any Indirect Taxes are chargeable in respect of any payments, the
      paying Party shall pay such Indirect Taxes at the applicable rate in respect of such payments following receipt, where applicable, of an Indirect Taxes invoice in the appropriate form issued by the receiving Party in respect of those payments. The
      Parties shall issue invoices for all amounts payable under this Agreement consistent with Indirect Tax requirements and irrespective of whether the sums may be netted for settlement purposes. If the Indirect Taxes originally paid or otherwise borne
      by the paying Party are in whole or in part subsequently determined not to have been chargeable, all necessary steps will be taken by the receiving Party to receive a refund of these undue Indirect Taxes from the applicable governmental authority or
      other fiscal authority and any amount of undue Indirect Taxes repaid by such authority to the receiving Party will be transferred to the paying Party [***] of receipt. If a government authority retroactively determines that a payment made by the
      paying Party to the receiving Party pursuant to this Agreement should have been subject to Indirect Taxes, and the receiving Party is required to remit such Indirect Taxes to the government authority, including any interest and penalties imposed
      thereon the receiving Party will have the right (a) to invoice the paying Party for such amount (which shall be payable by the paying Party within [***] of its receipt of such invoice) or (b) to pursue reimbursement of the amount by any other
      available remedy.

   
   

   
  4.8         Interest on Late Payments. If any payment due to either Party under this Agreement is not paid when due, then, without limiting any rights or remedies of the receiving Party, such paying Party shall pay interest thereon
      (before and after any judgment) [***] (but with interest accruing on a daily basis) of [***] (or any successor rate), such interest to run from the date on which payment of such sum became due until payment thereof in full together with such
      interest.

   
  
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  4.9         Financial Records. Licensee shall, and shall cause its Affiliates to, keep complete and accurate books and records pertaining to Net Sales of Licensed Products, in sufficient detail to calculate all amounts payable hereunder
      and to verify compliance with its payment obligations under this Agreement. Such books and records shall be retained by Licensee and its Affiliates until the later of (a) [***] to which such books and records pertain, and (b) the expiration of the
      applicable tax statute of limitations (or any extensions thereof), or for such longer period as may be required by Applicable Law.

   
   

   
  4.10       Audit. Subject to the other terms of this Section 4.10, at the request of AbbVie, Licensee shall, and shall cause its Affiliates to, permit an independent, nationally-recognized certified
      public accountant designated by AbbVie and reasonably acceptable to Licensee, at reasonable times and upon reasonable notice, to audit the books and records maintained pursuant to Section 4.9 to ensure the accuracy
      of all reports and payments made hereunder; provided, that, such audit right shall not apply to records beyond [***] from the end of the Calendar Quarter to which they pertain and no record may be audited more than [***]. The
      accountant shall report to AbbVie only whether the particular amount being audited was accurate, and if not, the amount of any discrepancy. Except as provided below, the cost of this audit shall be borne by AbbVie, unless the audit reveals a variance
      of more than [***] from the reported amounts, in which case Licensee shall bear the reasonable, documented out-of-pocket cost of the audit. Unless disputed pursuant to Section 4.11 below, if such audit concludes
      that (a) additional amounts were owed by Licensee, Licensee shall pay the additional amounts, with interest from the date originally due as provided in Section 4.8, or (b) excess payments were made by Licensee,
      AbbVie shall reimburse such excess payments, in either case ((a) or (b)), within [***] after the date on which such audit is completed by AbbVie.

   
   

   
  4.11       Audit Dispute. In the event of a dispute with respect to any audit under Section 4.10, AbbVie and Licensee shall work in good faith to resolve the disagreement. If the Parties are unable to
      reach a mutually acceptable resolution of any such dispute within [***], the dispute shall be submitted for resolution to a certified public accounting firm jointly selected by each Party’s accountants or to such other Person as the Parties shall
      mutually agree (the “Audit Arbitrator”). The decision of the Audit Arbitrator shall be final and the costs of such arbitration as well as the initial audit shall be borne between the Parties in such manner as the Audit Arbitrator shall
      determine. Not later than [***] after such decision and in accordance with such decision, Licensee shall pay the additional amounts, with interest from the date originally due as provided in Section 4.9, or AbbVie
      shall reimburse the excess payments, as applicable.

   
   

   
  4.12       Confidentiality. AbbVie shall treat all information subject to review under this ARTICLE 4 in accordance with the confidentiality provisions of ARTICLE 7 and the Parties shall cause the
      Audit Arbitrator to enter into a reasonably acceptable confidentiality agreement with Licensee obligating such firm to retain all such financial information in confidence pursuant to such confidentiality agreement.

   
   

   
  4.13       No Other Compensation. [***] each Party hereby agrees that the terms of this Agreement fully define all consideration, compensation and benefits, monetary or otherwise, to be paid, granted or delivered by one Party to the
      other Party in connection with the transactions contemplated herein. Neither Party previously has paid or entered into any other commitment to pay, whether orally or in writing, any of the other Party’s employees, directly or indirectly, any
      consideration, compensation or benefits, monetary or otherwise, in connection with the transaction contemplated herein.

   
  
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  Article 5

      INTELLECTUAL PROPERTY

   
   

   
  5.1         Ownership of Intellectual Property.

   
   

   
  5.1.1.      Ownership of Technology. Each Party shall own and retain all right, title, and interest in and to any and all: (a) Information and inventions that are conceived, discovered, developed, or otherwise made by or on behalf of
      such Party (or its Affiliates or Sublicensees) under or in connection with this Agreement, whether or not patented or patentable, and any and all Patents and other intellectual property rights with respect thereto and (b) other Information,
      inventions, Patents, and other intellectual property rights that are owned or otherwise Controlled (other than pursuant to the license grant set forth in Section 2.1) by such Party, its Affiliates or its licensees
      or Sublicensees. Subject to Section 5.2.2, AbbVie and Licensee shall jointly own any Information and inventions that are conceived, discovered, developed, or otherwise made jointly by or on behalf of AbbVie or its
      Affiliates, on the one hand, and Licensee, or its Affiliates or Sublicensees on the other hand, under or in connection with this Agreement, whether or not patented or patentable (“Joint IP”). Subject to Section 5.2.2,

      AbbVie’s interest in any such Joint IP shall be included in the license granted under Section 2.1. For clarity, after the Effective Date, AbbVie shall remain the sole owner of the AbbVie Patents.

   
   

   
  5.1.2.      United States Law. The determination of whether Information and inventions are conceived, discovered, developed, or otherwise made by a Party for the purpose of allocating proprietary rights (including Patent, copyright or
      other intellectual property rights) therein, shall, for purposes of this Agreement, be made in accordance with Applicable Law in the United States irrespective of where such conception, discovery, development or making occurs.

   
   

   
  5.1.3.      Joint IP. Each Party will have an [***] interest in and to the Joint IP. Each Party will exercise its ownership rights in and to such Joint IP, including the right to license and sublicense or otherwise to exploit, transfer,
      or encumber its ownership interest, without an accounting or obligation to, or consent required from, the other Party, but subject to the licenses hereunder and the other terms and conditions of this Agreement. At the reasonable written request of a
      Party, the other Party will in writing grant such consents and confirm that no such accounting is required to effect the foregoing regarding Joint IP (but subject to the license granted under Section 2.1).

   
   

   
  5.1.4.      Ownership of Corporate Names. Each Party shall retain all right, title and interest in and to any corporate names, Trademarks and logos owned or otherwise used by such Party or any of its Affiliates.

   
   

   
  5.2         Maintenance and Prosecution of Patents.

   
   

   
  5.2.1.      Patent Prosecution and Maintenance of AbbVie Patents. Subject to the remainder of this Section 5.2.1, Licensee shall, at its sole cost and expense, prepare, file, prosecute, and maintain all
      of the AbbVie Patents in the Territory. Licensee shall have the right to use outside counsel of its choice in connection with such activities; provided that any such counsel shall be reasonably acceptable to AbbVie. Licensee shall keep AbbVie
      reasonably informed with regard to the preparation, filing, prosecution, and maintenance of all AbbVie Patents and shall provide AbbVie with copies of any proposed patent filings at least [***] prior to any proposed filing. AbbVie shall have an
      opportunity to review and comment upon patent prosecution and filing decisions prior to the submission of filing and correspondences to the patent authorities, and Licensee shall consider AbbVie’s comments in good faith. If Licensee decides not to
      prepare, file, prosecute, or maintain an AbbVie Patent in a country or other jurisdiction in the Territory, Licensee shall provide [***] prior written notice to AbbVie of such intention, and AbbVie shall thereupon have the option, in its sole
      discretion, to assume the control and direction of the preparation, filing, prosecution, and maintenance of such AbbVie Patent at its expense in such country or other jurisdiction. In such event, Licensee shall promptly provide AbbVie with the
      appropriate documents for transfer of responsibility for filing, prosecution and maintenance of such AbbVie Patent to AbbVie or its designee and shall reasonably cooperate with AbbVie or its designee as provided under Section 5.2.4.

   
  
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  5.2.2.      Patent Prosecution and Maintenance of Joint Patents. Subject to the remainder of this Section 5.2.2, Licensee shall, at its sole cost and expense, prepare, file, prosecute, and maintain all
      of the Patents within the Joint IP (“Joint Patents”) in the Territory. Licensee shall have the right to use outside counsel of its choice in connection with such activities; provided that any such counsel shall be reasonably acceptable to
      AbbVie. Licensee shall keep AbbVie reasonably informed with regard to the preparation, filing, prosecution, and maintenance of all Joint Patents and shall provide AbbVie with copies of any proposed patent filings at least [***] prior to any proposed
      filing. AbbVie shall have an opportunity to review and comment upon patent prosecution and filing decisions prior to the submission of filing and correspondences to the patent authorities, and Licensee shall consider AbbVie’s comments in good faith.
      If Licensee decides not to prepare, file, prosecute, or maintain a Joint Patent in a country or other jurisdiction in the Territory Licensee shall provide [***] prior written notice to AbbVie of such intention, and AbbVie shall thereupon have the
      option, in its sole discretion, to continue the preparation, filing, prosecution, and maintenance of such Joint Patent at its expense in such country or other jurisdiction. In such an event, Licensee shall promptly provide AbbVie with the appropriate
      documents for transfer of responsibility for filing, prosecution and maintenance of such Joint Patent to AbbVie or its designee and shall reasonably cooperate with AbbVie or its designee as provided under Section 5.2.4.

   
   

   
  5.2.3.      Patent Prosecution and Maintenance of Licensee Patents. Licensee shall prepare, file, prosecute, and maintain all of the Licensee Patents (including any Improvement Patents) at its own cost and expense, in its own discretion.
      At least [***] prior to Licensee filing any Licensee Patent (including any Improvement Patents), Licensee shall provide copies of any such proposed filings to AbbVie and consider in good faith any comments provided by AbbVie. In addition, upon filing
      such applications, Licensee shall promptly report the Licensee Patent ((including any Improvement Patents) filed to AbbVie. AbbVie shall maintain the Licensee Patents (including any Improvement Patents) provided to AbbVie as confidential until the
      Licensee Patent is published.

   
   

   
  5.2.4.      Cooperation. The Parties agree to reasonably cooperate in the preparation, filing, prosecution, and maintenance of the AbbVie Patents and Joint Patents in the Territory under this Agreement.

   
   

   
  5.2.5.      Patent Term Extension and Supplementary Protection Certificate. Licensee shall have the right to make decisions regarding patent term extensions, including supplementary protection certificates and any other extensions that
      are now or become available in the future, wherever applicable, for AbbVie Patents and Joint Patents that cover Licensed Compounds or Licensed Products in the Territory. Licensee shall consult with AbbVie prior to such decisions and shall consider
      AbbVie’s comments in good faith. Licensee shall have the primary responsibility of applying for any extension or supplementary protection certificate with respect to such Patents in the Territory at its cost and expense. AbbVie shall provide
      reasonable assistance, as requested by and at the sole cost of Licensee, including by taking such action as patent holder as is required under any Applicable Law to obtain such extension or supplementary protection certificate.

   
   

   
  5.2.6.      CREATE Act. Notwithstanding anything to the contrary in this ARTICLE 5, neither Party shall have the right to make an election under the Cooperative Research and Technology Enhancement Act
      of 2004, 35 U.S.C. 103(c)(2)-(c)(3) (the “CREATE Act”) when exercising its rights under this ARTICLE 5 without the prior written consent of the other Party. With respect to any such permitted election, the
      Parties shall coordinate their activities with respect to any submissions, filings, or other activities in support thereof. The Parties acknowledge and agree that this Agreement is a “joint research agreement” as defined in the CREATE Act.

   
  
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  5.2.7.      Patent Listings. Licensee shall have the sole right to make all filings with Regulatory Authorities in the Territory with respect to AbbVie Patents and Joint Patents that cover Licensed Compounds and Licensed Products as
      required or allowed in the Territory.

   
   

   
  5.3         Enforcement of Patents.

   
   

   
  5.3.1.      Enforcement of AbbVie Patents and Joint Patents. Each Party shall promptly notify the other Party in writing of any alleged or threatened infringement of the AbbVie Patents or Joint Patents by a Third Party in the Territory
      of which such Party becomes aware (including alleged or threatened infringement based on the Development, [***], or an application to market a generic product in the Territory) (the “Product Infringement”). Licensee shall have the first right,
      but not the obligation, to institute, prosecute and control any claim, suit or proceeding with respect to any Product Infringement of any AbbVie Patent or Joint Patent in the Territory (the “Licensee Prosecuted Infringements”) at its sole
      expense and [***] shall retain control of the prosecution of such claim, suit or proceeding. If [***] prosecutes any Licensee Prosecuted Infringement, [***] shall have the right to join as a party to such claim, suit, or proceeding in the Territory
      and participate with its own counsel at its own expense; provided that [***] shall retain control of the prosecution of such claim, suit, or proceeding. If [***] does not take commercially reasonable steps to prosecute a Licensee Prosecuted
      Infringement (a) within [***] following the first notice provided above with respect to the Licensee Prosecuted Infringement, or (b) [***] before the time limit, if any, set forth in appropriate laws and regulations for filing of such actions,
      whichever comes first, then [***] may then (but shall have no obligation to) prosecute the Product Infringement of an AbbVie Patent or Joint Patent in the Territory at its own expense and [***] shall retain control of such prosecution. [***] shall
      keep [***] updated as to the steps it intends to take to prosecute a Licensee Prosecuted Infringement and shall otherwise provide [***] with any information reasonably requested by [***]. For clarity, [***] shall have the exclusive right to enforce
      AbbVie Patents for any infringement that is not a Product Infringement.

   
   

   
  5.3.2.      Cooperation. The Parties agree to cooperate fully in any infringement action pursuant to this Section 5.3. If a Party brings such an action, then the other Party shall, if necessary, either
      furnish a power of attorney solely for such purpose, join in, or be named as a necessary party to, such action. Unless otherwise set forth herein, the Party entitled to bring any patent infringement litigation in accordance with this Section 5.3 shall have the right to settle such claim; provided that neither Party shall have the right to settle any patent infringement litigation under this Section 5.3 in a manner
      that has a material adverse effect or meaningfully diminishes the rights or interests of the other Party, or in a manner that imposes any costs or liability on, or involves any admission of fault by, the other Party, without the express written
      consent of such other Party, such consent not to be unreasonably withheld, conditioned or delayed. The Party commencing the litigation shall provide the other Party with copies of all pleadings and other documents filed with the court and shall
      consider reasonable input from the other Party during the course of the proceedings.

   
   

   
  5.3.3.      Recovery. Except as otherwise agreed by the Parties in connection with a cost sharing arrangement, any recovery realized as a result of such litigation described in Section 5.3.1 (whether
      by way of settlement or otherwise) shall be first allocated to reimburse the Parties for their costs and expenses in making such recovery (which amounts shall be allocated pro rata if insufficient to cover the totality of such expenses). Any
      remainder after such reimbursement is made shall be retained by the Party that has exercised its right to bring the enforcement action; provided, however, that any award or settlement (whether by judgment or otherwise) shall be deemed to be
      “Net Sales” hereunder.

   
  
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  5.4         Infringement Claims by Third Parties. If the Manufacture, Commercialization, or use of a Licensed Compound or Licensed Product in the Territory pursuant to this Agreement results in, or may result in, any claim, suit, or
      proceeding by a Third Party alleging patent infringement by Licensee (or its Affiliates or Sublicensees), Licensee shall promptly notify AbbVie thereof in writing. [***] (or its Affiliates or Sublicensees) shall defend any action which names [***]
      which claims the infringement, after the Effective Date, of any Third Party’s Patent through the making, using, selling, offer for sale or importing of a Licensed Compound or Licensed Product. If necessary and at Licensee’s expense, AbbVie will
      assist and cooperate with Licensee in any such defense. Licensee will bear all costs and expenses (including attorneys’ fees) and pay all damages and settlement amounts arising out of or in connection with any such action. Each Party shall keep the
      other Party reasonably informed of all material developments in connection with any such claim, suit, or proceeding. Each Party agrees to provide the other Party with copies of all pleadings filed in such action and to allow the other Party
      reasonable opportunity to participate in the defense of the claims. Neither Party may enter into any settlement that affects the other Party’s rights or interests without such Party’s written consent, which consent will not be unreasonably
      conditioned, withheld or delayed.

   
   

   
  5.5         Invalidity or Unenforceability Defenses or Actions.

   
   

   
  5.5.1.      Notice. Each Party shall promptly notify the other Party in writing of any alleged or threatened assertion of invalidity or unenforceability of any of the AbbVie Patents or Joint Patents (or any corresponding worldwide family
      members in the Territory) by a Third Party, in each case in the Territory and of which such Party becomes aware.

   
   

   
  5.5.2.      AbbVie Patents and Joint Patents. Licensee shall have the first right, but not the obligation, at its sole discretion, to defend and control the defense of the validity and enforceability of the AbbVie Patents and Joint
      Patents at its own expense in the Territory. AbbVie may participate in any such claim, suit, or proceeding in the Territory with counsel of its choice at its own expense; provided that Licensee shall retain control of the defense in such claim, suit,
      or proceeding. If Licensee elects not to defend or control the defense of any such AbbVie Patents or Joint Patent in a suit brought in the Territory, or otherwise fails to initiate and maintain the defense of any such claim, suit, or proceeding, then
      AbbVie may conduct and control the defense of any such claim, suit, or proceeding of such AbbVie Patents or Joint Patent at its own expense.

   
   

   
  5.5.3.      Cooperation. Each Party shall assist and cooperate with the other Party as such other Party may reasonably request from time to time in connection with its activities set forth in this Section 5.5,
      including by being joined as a party plaintiff in such action or proceeding, providing access to relevant documents and other evidence, and making its and its Affiliates’ employees, subcontractors, agents and consultants available at reasonable
      business hours and for reasonable periods of time. In connection with any such defense or claim or counterclaim, the controlling Party shall consider in good faith any comments from the other Party and shall keep the other Party reasonably informed
      of any steps taken, and shall provide copies of all documents filed, in connection with such defense, claim, or counterclaim. In connection with the activities set forth in this Section 5.5, each Party shall
      consult with the other as to the strategy for the defense of the AbbVie Patents or Joint Patents.

   
   

   
  5.6         Inventor’s Remuneration. Licensee shall be solely responsible for any remuneration that may be owed to Licensee’s inventors under any applicable inventor remuneration laws. AbbVie shall be solely responsible for any
      remuneration that may owed to AbbVie’s inventors under any applicable inventor remuneration laws.

   
   

   
  5.7         AbbVie Technology. Notwithstanding any provision in this Agreement to the contrary, AbbVie shall have the right to transfer or assign ownership of any AbbVie Know-How, AbbVie Patents or AbbVie’s interest in Joint IP as long
      as any such transfer or assignment is made expressly subject to the rights and licenses granted to Licensee under this Agreement.

   
  
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  Article 6

      PHARMACOVIGILANCE

   
   

   
  6.1         Pharmacovigilance Activities. AbbVie shall have no ongoing pharmacovigilance obligations with respect to Licensed Compounds or Licensed Products. Licensee shall assume all pharmacovigilance activities and obligations for the
      Licensed Compounds and Licensed Products as of the Effective Date.

   
   

   
  Article 7

      CONFIDENTIALITY AND NON-DISCLOSURE

   
   

   
  7.1         Confidentiality Obligations. At all times during the Term and for a period of [***] following termination or expiration of this Agreement, each Party shall, and shall cause its Affiliates, and such Party’s and its Affiliates’
      officers, directors, employees and agents to, keep confidential and not publish or otherwise disclose to a Third Party and not use, directly or indirectly, for any purpose, any Confidential Information furnished or otherwise made known to it,
      directly or indirectly, by the other Party under this Agreement [***], except to the extent such disclosure or use is expressly permitted by the terms of this Agreement or is necessary for the performance of, or the exercise of such Party’s rights
      under, this Agreement. [***]. Notwithstanding the foregoing, but to the extent the receiving Party can demonstrate by documentation or other competent proof, the confidentiality and non-use obligations under this Section 7.1

      with respect to any Confidential Information shall not include any information that:

   
   

   
  7.1.1.      has been published by a Third Party or is or hereafter becomes part of the public domain by public use, publication, general knowledge or the like through no wrongful act, fault or negligence on the part of the receiving Party;

   
   

   
  7.1.2.      has been in the receiving Party’s possession prior to disclosure by the disclosing Party (as can be shown by competent written evidence) without any obligation of confidentiality with respect to such information;

   
   

   
  7.1.3.      is subsequently received by the receiving Party from a Third Party without restriction and without breach of any agreement between such Third Party and the disclosing Party; or

   
   

   
  7.1.4.      has been independently developed by or for the receiving Party without reference to, or use or disclosure of the disclosing Party’s Confidential Information, as evidenced by such Party’s internal records documenting such independent
      development.

   
   

   
  Specific aspects or details of Confidential Information shall not be deemed to be within the public domain or in the possession of the receiving
      Party merely because the Confidential Information is embraced by more general information in the public domain or in the possession of the receiving Party. Further, any combination of Confidential Information shall not be considered in the public
      domain or in the possession of the receiving Party merely because individual elements of such Confidential Information are in the public domain or in the possession of the receiving Party unless the combination and its principles are in the public
      domain or in the possession of the receiving Party.

   
  
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  7.2         Permitted Disclosures. Each Party may disclose Confidential Information to the extent that such disclosure is:

   
   

   
  7.2.1.      in the reasonable opinion of the receiving Party’s legal counsel, required to be disclosed pursuant to law, regulation or made in response to a valid order of a court of competent jurisdiction or other supra-national, federal,
      national, regional, state, provincial and local governmental or regulatory body of competent jurisdiction, including by reason of filing with securities regulators; provided, however, that the receiving Party shall first have given prompt
      written notice (and to the extent possible, at least [***] notice) to the disclosing Party and given the disclosing Party a reasonable opportunity to take whatever action it deems necessary to protect its Confidential Information (for example, to
      quash such order or to obtain a protective order or confidential treatment requiring that the Confidential Information and documents that are the subject of such order be held in confidence by such court or regulatory body or, if disclosed, be used
      only for the purposes for which the order was issued). If no protective order or other remedy is obtained, or the disclosing Party waives compliance with the terms of this Agreement, receiving Party shall furnish only that portion of Confidential
      Information which receiving Party is advised by counsel is legally required to be disclosed;

   
   

   
  7.2.2.      made by or on behalf of the receiving Party to the Regulatory Authorities as required in connection with any filing, application or request for Regulatory Approval in accordance with the terms of this Agreement; provided,
        however, that reasonable measures shall be taken to assure confidential treatment of such information to the extent practicable and consistent with Applicable Law;

   
   

   
  7.2.3.      made by or on behalf of the receiving Party to a patent authority as may be reasonably necessary or useful for purposes of obtaining, defending or enforcing a Patent in accordance with the terms of this Agreement; provided,
        however, that reasonable measures shall be taken to assure confidential treatment of such information, to the extent such protection is available;

   
   

   
  7.2.4.      made to its or its Affiliates’ financial and legal advisors who have a need to know such disclosing Party’s Confidential Information and are either under professional codes of conduct giving rise to expectations of confidentiality
      and non-use or under written agreements of confidentiality and non-use, in each case, at least as restrictive as those set forth in this Agreement; provided that the receiving Party shall remain responsible for any failure by such financial
      and legal advisors, to treat such Confidential Information as required under this ARTICLE 7; or

   
   

   
  7.2.5.      made by the receiving Party or its Affiliates or Sublicensees to its or their (a) advisors, consultants, vendors, service providers, or contractors, (b) existing or prospective collaboration partners, licensees, sublicensees,
      lenders, investors, or acquirers, or (c) in connection with the performance of its obligations or exercise of its rights as contemplated by this Agreement, or to potential or actual investors or acquirers as may be necessary or useful in connection
      with their evaluation of such potential or actual investment or acquisition; provided, however, that such Persons shall be subject to obligations of confidentiality and non-use with respect to such Confidential Information substantially
      similar to the obligations of confidentiality and non-use of the receiving Party pursuant to this ARTICLE 7.

   
   

   
  7.3         Securities Filings and other Disclosures Required by Law. Each Party acknowledges and agrees that the other Party may submit this Agreement to the SEC or any national securities exchange in any jurisdiction (collectively, the
      “Securities Regulators”), or to other Persons as may be required by Applicable Law, and if a Party does submit this Agreement to any Securities Regulators, or other Persons as may be required by Applicable Law, such Party agrees to consult
      with the other Party with respect to the preparation and submission of a confidential treatment request for this Agreement. Notwithstanding the foregoing, if a Party or its counsel concludes it is required by Applicable Law or any Securities
      Regulator to make a disclosure of the terms of this Agreement in a filing or other submission as required by Applicable Law or any Securities Regulator, and (a) such Party has provided copies of the disclosure to the other Party reasonably in advance
      of such filing or other disclosure under the circumstances, (b) such Party has promptly notified the other Party in writing of such requirement and any respective timing constraints, and (c) such Party has given the other Party a reasonable time
      under the circumstances from the date of notice by such Party of the required disclosure to comment upon and request confidential treatment for such disclosure, then such Party will have the right to make such disclosure at the time and in the manner
      reasonably determined by its counsel to be required by Applicable Law or any Securities Regulator. Notwithstanding the foregoing, it is hereby understood and agreed that if a Party seeks to make a disclosure as required by Applicable Law or any
      Securities Regulator as set forth in this Section 7.3, and the other Party provides comments within the respective time periods or constraints specified herein or within the respective notice, the Party seeking to
      make such disclosure or its counsel, as the case may be, will in good faith consider incorporating such comments.

   
  
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  7.4         Use of Name. Except as expressly provided herein, neither Party nor its Affiliates shall mention or otherwise use the name, logo, or Trademark of the other Party or any of its Affiliates (or any abbreviation or adaptation
      thereof) in any publication, press release, marketing and promotional material, or other form of publicity without the prior written approval of such other Party in each instance. The restrictions imposed by this Section 7.3

      shall not prohibit either Party from making any disclosure identifying the other Party that, in the opinion of the disclosing Party’s counsel, is required by Applicable Law or any Securities Regulator; provided such Party shall submit the
      proposed disclosure identifying the other Party in writing to the other Party as far in advance as reasonably practicable so as to provide a reasonable opportunity to comment thereon.

   
   

   
  7.5         Public Announcements. Except for the form of public disclosure as set forth in Schedule 7.5, neither Party shall issue any public announcement, press release, or other public
      disclosure regarding this Agreement or its subject matter without the other Party’s prior written consent, except for any such disclosure that is, in the opinion of the disclosing Party’s counsel, required by Applicable Law or any Securities
      Regulator. The contents of any press release or other public statement that has been reviewed and approved by AbbVie may be re-released by Licensee without a requirement for re-approval; provided, however, that such re-release does not substantially
      change or expand the previously issued content.

   
   

   
  7.6         Publications. In the event that Licensee or its Affiliates desire to publish or present any information that contains the Confidential Information of AbbVie with respect to any Licensed Compound or Licensed Product or
      contains Information relating to the RGMa mechanism of action, Licensee will submit to AbbVie for review any proposed academic, scientific and medical publication or academic, scientific and medical public presentation related to any Licensed
      Compound or Licensed Product. AbbVie will review such publication or presentation for purposes of determining whether any portion of the proposed publication or presentation contains AbbVie’s Confidential Information. Licensee will submit written
      copies of such proposed publication or presentation to AbbVie no later than [***] before submission for publication or presentation (or [***] in advance in the case of an abstract). AbbVie will provide its comments with respect to such publications
      and presentations within [***] after its receipt of such written copy (or [***] in the case of an abstract). If requested by AbbVie, Licensee will redact AbbVie’s Confidential Information from any such proposed publication or presentation.
      Notwithstanding the foregoing, the contents of any publication or presentation that has been reviewed and approved by AbbVie may be re-released by Licensee without a requirement for re-approval; provided, however, that such re-release does not
      substantially change or expand the previously issued content. During the Term, AbbVie will not make any academic, scientific or medical publication or academic, scientific or medical public presentation related to any Licensed Compound or Licensed
      Product or any activities conducted pursuant to this Agreement. Any publication shall include recognition of the contributions of the other Party according to standard practice for assigning scientific credit, either through authorship or
      acknowledgement, as may be appropriate.

   
  
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  7.7         Trade Secrets. Licensee acknowledges that AbbVie may transfer trade secrets to Licensee in connection with this Agreement. Licensee shall take all steps necessary to maintain such information as a trade secret for an
      indefinite period, notwithstanding Section 7.1. No trade secret information of AbbVie may be transferred to a Third Party until Licensee has entered into a confidentiality agreement at least as restrictive as the
      confidentiality terms of this Agreement, and which shall contain provisions protecting the confidentiality of trade secrets indefinitely. In addition, Licensee shall take steps reasonably necessary to ensure that such Third Party maintains such
      information as a trade secret. Such trade secrets may only be used by Licensee or such Third Party as expressly set forth in this Agreement.

   
   

   
  7.8         Return of Confidential Information. Upon the effective date of the termination of this Agreement for any reason, either Party may request in writing, and the other Party shall either, with respect to Confidential Information
      to which such first Party does not retain rights under the surviving provisions of this Agreement: (a) promptly destroy all copies of such Confidential Information in the possession of the other Party and confirm such destruction in writing to the
      requesting Party; or (b) promptly deliver to the requesting Party, at the other Party’s expense, all copies of such Confidential Information in the possession of the other Party; provided, however, the other Party shall be permitted
      to retain one (1) copy of such Confidential Information for the sole purpose of performing any continuing obligations hereunder or for archival purposes. Notwithstanding the foregoing, such other Party also shall be permitted to retain such
      additional copies of or any computer records or files containing such Confidential Information that have been created solely by such Party’s automatic archiving and back-up procedures, to the extent created and retained in a manner consistent with
      such other Party’s standard archiving and back-up procedures, but not for any other use or purpose.

   
   

   
  7.9         Survival. All Confidential Information shall continue to be subject to the terms of this Agreement for the applicable periods set forth in this ARTICLE 7 regardless of the termination or
      expiration of this Agreement.

   
   

   
  Article 8

      REPRESENTATIONS AND WARRANTIES

   
   

   
  8.1         Mutual Representations and Warranties. AbbVie and Licensee each represents and warrants to the other, as of the Effective Date, and covenants, as follows:

   
   

   
  8.1.1.      Organization. It is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its organization, and has all requisite power and authority, corporate or otherwise, to execute, deliver, and
      perform this Agreement.

   
   

   
  8.1.2.      Authorization. The execution and delivery of this Agreement and the performance by it of the transactions contemplated hereby have been duly authorized by all necessary corporate action, and do not violate (a) such Party’s
      charter documents, bylaws, or other organizational documents, (b) in any material respect, any agreement, instrument, or contractual obligation to which such Party is bound, (c) any requirement of any Applicable Law, or (d) any order, writ, judgment,
      injunction, decree, determination, or award of any court or governmental agency presently in effect applicable to such Party.

   
   

   
  8.1.3.      Binding Agreement. This Agreement is a legal, valid, and binding obligation of such Party enforceable against it in accordance with its terms and conditions, subject to the effects of bankruptcy, insolvency, or other laws of
      general application affecting the enforcement of creditor rights, judicial principles affecting the availability of specific performance, and general principles of equity (whether enforceability is considered a proceeding at law or equity).

   
  
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  8.1.4.      No Inconsistent Obligation. It is not under any obligation, contractual or otherwise, to any Person that conflicts with or is inconsistent in any material respect with the terms of this Agreement, or that would impede the
      diligent and complete fulfillment of its obligations hereunder.

   
   

   
  8.2         Additional Representations and Warranties of AbbVie. AbbVie further represents and warrants to Licensee, as of the Effective Date, as follows:

   
   

   
  8.2.1.      AbbVie or one of its Affiliates Controls the AbbVie Know-How and AbbVie Patents and has the right to grant the licenses specified herein.

   
   

   
  8.2.2.      To AbbVie’s knowledge, there is no pending litigation or patent office proceeding, or litigation or patent office proceeding that has been threatened in writing, and AbbVie has not received any written claim or demand alleging, that
      the AbbVie Patents are invalid or unenforceable.

   
   

   
  8.2.3.      To AbbVie’s knowledge, there is no pending litigation, or litigation that has been threatened in writing, that the research, Development, manufacture or Commercialization of any of the Licensed Compounds or Licensed Products
      infringes or misappropriates the Patents, Information or other intellectual property rights of any Third Party.

   
   

   
  8.2.4.      To AbbVie’s knowledge, there is no lien or security interest on any of the AbbVie Know-How or AbbVie Patents.

   
   

   
  8.3         Additional Representations and Warranties of Licensee. Licensee further represents and warrants to AbbVie, as of the Effective Date, and covenants, as follows:

   
   

   
  8.3.1.      Licensee (a) has conducted its own investigation and analysis of (i) the Patents and other proprietary rights of Third Parties as such rights relate to the Exploitation of the Licensed Compounds and Licensed Products and (ii) the
      potential infringement thereof, (b) understands the complexity and uncertainties associated with possible claims of infringement of Patents or other proprietary rights of Third Parties, particularly those relating to pharmaceutical products, and (c)
      acknowledges and agrees that it is solely responsible for the risks of such claims. Licensee acknowledges and agrees that it has received access to the information relating to the AbbVie Patents, AbbVie Know-How, Licensed Compounds and Licensed
      Products that Licensee deemed necessary to conduct and complete its due diligence related to the transactions contemplated by this Agreement, and Licensee warrants that it has diligently reviewed all such information. Licensee has no knowledge of any
      breach of any representation or warranty of AbbVie made hereunder, including pursuant to Section 8.1 and Section 8.2.

   
   

   
  8.3.2.      Licensee and its Affiliates (a) are solvent, (b) have sufficient financial resources to conduct its business in the ordinary course, meet all of its debts and financial obligations, and have no reasonable basis on which to expect
      that its operations may be impaired by financial instability or insolvency, and (c) shall take no actions during the Term of this Agreement that would materially impair its financial ability to meet its obligations hereunder, including but not
      limited to payments to shareholders in the form of dividends, equity redemptions or otherwise if such payments would materially impair its financial ability to meet its obligations hereunder, or otherwise materially impairing its ability to meet its
      debts and financial obligations in the ordinary course.

   
   

   
  8.3.3.      Licensee and its Affiliates have not ever been, are not currently, nor are they the subject of a proceeding that could lead to it or its Affiliates becoming a Debarred Entity, Excluded Entity or Convicted Entity and it and its
      Affiliates will not use in any capacity, in connection with the obligations to be performed under this Agreement, any person who is a Debarred Individual, Excluded Individual or a Convicted Individual. Licensee further covenants that if, during the
      Term, it or its Affiliates become a Debarred Entity, Excluded Entity or Convicted Entity, or listed on the FDA’s Disqualified/Restricted List or if any employee or agent performing any of its obligations hereunder becomes a Debarred Individual,
      Excluded Individual or a Convicted Individual, or added to the FDA’s Disqualified/Restricted List, Licensee shall immediately notify AbbVie and AbbVie shall have the option, at its sole discretion, to prohibit such Person from performing work under
      this Agreement. This provision shall survive expiration of this Agreement. For purposes of this provision, the following definitions shall apply:

   
  
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  (a)            A “Debarred Individual” is an individual who has been debarred by the FDA pursuant to 21 U.S.C. §335a (a) or (b) from providing services in any capacity to a Person that has an approved or pending drug or biological product
      application.

   
   

   
  (b)            A “Debarred Entity” is a corporation, partnership or association that has been debarred by the FDA pursuant to 21 U.S.C. §335a (a) or (b) from submitting or assisting in the submission of any abbreviated drug application, or
      a subsidiary or affiliate of a Debarred Entity.

   
   

   
  (c)            An “Excluded Individual” or “Excluded Entity” is (A) an individual or entity, as applicable, who has been excluded, debarred, suspended or is otherwise ineligible to participate in federal health care programs such as
      Medicare or Medicaid by the Office of the Inspector General (OIG/HHS) of the U.S. Department of Health and Human Services, or (B) is an individual or entity, as applicable, who has been excluded, debarred, suspended or is otherwise ineligible to
      participate in federal procurement and non-procurement programs, including those produced by the U.S. General Services Administration (GSA).

   
   

   
  (d)            A “Convicted Individual” or “Convicted Entity” is an individual or entity, as applicable, who has been convicted of a criminal offense that falls within the ambit of 21 U.S.C. §335a (a) or 42 U.S.C. §1320a - 7(a), but
      has not yet been excluded, debarred, suspended or otherwise declared ineligible.

   
   

   
  (e)            “FDA’s Disqualified/Restricted List” is the list of clinical investigators restricted from receiving investigational drugs, biologics, or devices if the FDA has determined that the investigators have repeatedly or
      deliberately failed to comply with regulatory requirements for studies or have submitted false Information to the study sponsor or the FDA.

   
   

   
  8.3.4.      Sanctioned Party Prohibition. The Parties acknowledge and agree that governmental authorities, including the U.S. federal government prohibits trade with certain sanctioned or blocked parties and publishes and maintains lists
      of Persons with whom trade is prohibited (each such governmental authority’s list, a “Sanctioned Party List”). Licensee represents and warrants that it (a) is not on any Sanctioned Party List maintained by any governmental authority, (b) has
      no reason to believe it will be placed on any Sanctioned Party List, and (c) will not deal with, conduct any business with or otherwise transact in any manner related to the rights and obligations contained in this Agreement with any Person on any
      global Sanctioned Party List.

   
   

   
  8.4         DISCLAIMER. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATIONS OR GRANTS ANY WARRANTIES, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE,
      AND EACH PARTY SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF QUALITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR USE OR PURPOSE OR ANY WARRANTY AS TO THE VALIDITY OF ANY
      PATENTS OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE LICENSES GRANTED HEREIN ARE MADE “AS IS, WHERE IS” WITH ALL FAULTS. ANY INFORMATION PROVIDED BY ABBVIE OR ITS
      AFFILIATES TO LICENSEE IS OR HAS BEEN MADE AVAILABLE ON AN “AS IS” BASIS WITHOUT WARRANTY WITH RESPECT TO COMPLETENESS, COMPLIANCE WITH REGULATORY STANDARDS OR REGULATIONS OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER KIND OF WARRANTY WHETHER
      EXPRESS OR IMPLIED. IN NO EVENT SHALL ABBVIE BE LIABLE FOR ANY LOSSES IN EXCESS OF THE UPFRONT PAYMENT SET FORTH IN SECTION 4.1 FOR ANY BREACH OF ITS REPRESENTATIONS OR WARRANTIES HEREUNDER. EACH PARTY HEREBY
      DISCLAIMS ANY REPRESENTATION OR WARRANTY THAT THE RESEARCH, DEVELOPMENT, MANUFACTURE OR COMMERCIALIZATION OF ANY LICENSED COMPOUND OR LICENSED PRODUCT PURSUANT TO THIS AGREEMENT WILL BE SUCCESSFUL.

   
  
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  Article 9

      INDEMNITY

   
   

   
  9.1         Indemnification of AbbVie. Licensee shall indemnify AbbVie, its Affiliates and its and their respective directors, officers, employees, and agents (“AbbVie Indemnitees”), and defend and save each of them harmless, from
      and against any and all losses, damages, liabilities, fees, costs, and expenses (including reasonable attorneys’ fees and expenses) (collectively, “Losses”) in connection with [***] for those Losses for which AbbVie, in whole or in part, has
      an obligation to indemnify Licensee pursuant to Section 9.2 hereof, as to which Losses each Party shall indemnify the other to the extent of their respective liability.

   
   

   
  9.2         Indemnification of Licensee. AbbVie shall indemnify Licensee, its Affiliates and its and their respective directors, officers, employees, and agents (the “Licensee Indemnitees”), and defend and save each of them
      harmless, from and against any and all Losses in connection with any and all Third Party Claims incurred by or rendered against the Licensee Indemnitees arising from or occurring as a result of [***] for those Losses for which Licensee, in whole or
      in part, has an obligation to indemnify AbbVie pursuant to Section 9.1 hereof, as to which Losses each Party shall indemnify the other to the extent of their respective liability for the Losses.

   
   

   
  9.3         Notice of Claim. All indemnification claims in respect of a Party, its Affiliates, or their respective directors, officers, employees and agents shall be made solely by such Party to this Agreement (the “Indemnified Party”).

      The Indemnified Party shall give the indemnifying Party prompt written notice (an “Indemnification Claim Notice”) of any Losses or discovery of fact upon which such Indemnified Party intends to base a request for indemnification under this ARTICLE 9 [***]. Each Indemnification Claim Notice must contain a description of the claim and the nature and amount of such Loss (to the extent that the nature and amount of such Losses are known at such time). The
      Indemnified Party shall furnish promptly to the indemnifying Party copies of all papers and official documents received in respect of any Losses and Third Party Claims.

   
   

   
  9.4         Control of Defense.

   
   

   
  9.4.1.      In General. At its option and sole expense, the indemnifying Party may assume the control of the defense of any Third Party Claim by giving written notice to the Indemnified Party within [***] after the indemnifying Party’s
      receipt of an Indemnification Claim Notice provided that the indemnifying Party has agreed to be fully responsible for all Losses relating to such claims. Upon assuming the defense of a Third Party Claim, the indemnifying Party may appoint as lead
      counsel in the defense of the Third Party Claim any legal counsel selected by the indemnifying Party which shall be reasonably acceptable to the Indemnified Party (such acceptance not to be unreasonably withheld, conditioned or delayed). If the
      indemnifying Party assumes the defense of a Third Party Claim, the Indemnified Party shall immediately deliver to the indemnifying Party all original notices and documents (including court papers) received by the Indemnified Party in connection with
      the Third Party Claim. Should the indemnifying Party assume the defense of a Third Party Claim, except as provided in Section 9.4.2, the indemnifying Party shall not be liable to the Indemnified Party for any legal
      expenses subsequently incurred by such Indemnified Party in connection with the analysis, defense or settlement of the Third Party Claim unless the incurring of those expenses were specifically requested in writing by the indemnifying Party.

   
  
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  9.4.2.      Right to Participate in or Control Defense. Without limiting Section 9.4.1, any Indemnified Party shall be entitled to participate in, but, subject to Section 9.4.1,
      not control, the defense of such Third Party Claim and to employ counsel of its choice for such purpose; provided, however, that such participation shall be at the Indemnified Party’s own expense unless (a) the employment and control thereof
      has been specifically authorized by the indemnifying Party in writing, (b) the indemnifying Party has failed to assume the defense and employ counsel in accordance with Section 9.4.1 (in which case the Indemnified
      Party shall control the defense), or (c) the interests of the Indemnified Party and the indemnifying Party with respect to such Third Party Claim are sufficiently adverse to prohibit the representation by the same counsel of both Parties under
      Applicable Law, ethical rules or equitable principles.

   
   

   
  9.4.3.      Settlement. With respect to any Losses relating solely to the payment of money damages in connection with a Third Party Claim and that do not result in the Indemnified Party’s becoming subject to injunctive or other relief or
      otherwise adversely affecting the business of the Indemnified Party in any manner, and as to which the indemnifying Party shall have acknowledged in writing the obligation to indemnify the Indemnified Party hereunder, the indemnifying Party shall
      have the sole right to consent to the entry of any judgment, enter into any settlement or otherwise dispose of such Loss, on such terms as the indemnifying Party, in its sole discretion, shall deem appropriate. With respect to all other Losses in
      connection with Third Party Claims, where the indemnifying Party has assumed the defense of the Third Party Claim in accordance with Section 9.4.1, the indemnifying Party shall have authority to consent to the entry
      of any judgment, make any admissions that would adversely affect the Indemnified Party, enter into any settlement or otherwise dispose of such Loss; provided it obtains the prior written consent of the Indemnified Party (which consent shall
      not be unreasonably withheld, conditioned or delayed), unless such compromise or settlement involves (a) any admission of legal wrongdoing by the Indemnified Party, (b) any payment by the indemnified Party that is not indemnified under this
      Agreement, or (c) the imposition of any equitable relief against the Indemnified Party (in which case, (a) through (c), the Indemnified Party may withhold its consent to such settlement in its sole discretion). If the indemnifying Party does not
      assume and conduct the defense of a Third Party Claim as provided in Section 9.4.1, the Indemnified Party may defend against such Third Party Claim in accordance with Section 9.4.2; provided
      that the Indemnified Party shall not settle any Third Party Claim without the prior written consent of the indemnifying Party, not to be unreasonably withheld, conditioned or delayed.

   
   

   
  9.4.4.      Cooperation. Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, the Indemnified Party shall, and shall cause each indemnitee to, cooperate in the defense or prosecution thereof
      and shall furnish such records, information and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested in connection therewith. Such cooperation shall include
      access during normal business hours afforded to the indemnifying Party to, and reasonable retention by the Indemnified Party of, records and information that are reasonably relevant to such Third Party Claim, and making Indemnified Parties and other
      employees and agents available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder, and the indemnifying Party shall reimburse the Indemnified Party for all its reasonable out-of-pocket
      expenses in connection therewith.

   
  
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  9.4.5.      Expenses. Except as provided above, the costs and expenses, including fees and disbursements of counsel, incurred by the Indemnified Party in connection with any Third Party Claim shall be reimbursed on a Calendar Quarter
      basis by the indemnifying Party, without prejudice to the indemnifying Party’s right to contest the Indemnified Party’s right to indemnification and subject to refund if the indemnifying Party is ultimately held not to be obligated to indemnify the
      Indemnified Party.

   
   

   
  9.5         Special, Indirect, and Other Losses. EXCEPT FOR (A) WILLFUL MISCONDUCT AND (B) A PARTY’S BREACH OF ITS OBLIGATIONS UNDER ARTICLE 7, EXCEPT TO THE EXTENT ANY SUCH DAMAGES ARE REQUIRED TO BE
      PAID TO A THIRD PARTY AS PART OF A THIRD PARTY CLAIM FOR WHICH A PARTY PROVIDES INDEMNIFICATION UNDER THIS ARTICLE 9, NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL,
      EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS OR BUSINESS INTERRUPTION, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY OR OTHERWISE IN CONNECTION WITH OR
      ARISING IN ANY WAY OUT OF THE TERMS OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

   
   

   
  9.6         Insurance. Licensee shall obtain and carry in full force and effect the minimum insurance requirements set forth herein. Such insurance (a) shall be primary insurance with respect to Licensee’s own participation under this
      Agreement, (b) shall be issued by a recognized insurer rated by A.M. Best “A-VII” (or its equivalent) or better, or an insurer pre-approved in writing by AbbVie, (c) shall list AbbVie and its subsidiaries, Affiliates, directors, officers, employees
      and agents as an additional insured thereunder, and (d) shall require [***] written notice to be given to AbbVie prior to any cancellation, non-renewal or material change thereof.

   
   

   
  9.6.1.      Types and Minimum Limits. The types of insurance, and minimum limits shall be:

   
   

   
  (a)            Licensee shall at all times maintain in force any insurance policy that is required by any Federal, State, National or other such Law, Regulation or Ordinance which may govern or have jurisdiction over any provision of this
      Agreement and at all times remain fully compliant with any such Law, Regulation or Ordinance.

   
   

   
  (b)            Clinical Trials Insurance effective at least [***] prior to the launch of any human clinical trials with a minimum limit of [***] in the aggregate to be maintained in force throughout the life of any such clinical trials, such
      insurance to be effected, maintained and documented to AbbVie in compliance with this Agreement and in compliance with any and all local requirements in any territory in which such trials are conducted.

   
   

   
  (c)            Product Liability Insurance effective at least [***] prior to First Commercial Sale of a Licensed Compound or Licensed Product with a minimum limit of [***] in the aggregate.

   
   

   
  9.6.2.      Certificates of Insurance. Within [***] after the Effective Date, Licensee shall provide AbbVie with Certificates of Insurance evidencing compliance with this Section. The insurance policies shall be under an occurrence form,
      but if only a claims-made form is available to Licensee, then Licensee shall continue to maintain such insurance after the expiration or termination of this Agreement for the longer of: (a) a period of [***] following termination or expiration of
      this Agreement, or (b) last sale of a Licensed Product.

   
  
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  Article 10

      TERM AND TERMINATION

   
   

   
  10.1       Term.

   
   

   
  10.1.1.    Term. This Agreement shall commence on the Effective Date and, unless earlier terminated in accordance herewith, shall continue in force and effect until the date of expiration of the last Royalty Term for the last Licensed
      Product (such period, the “Term”).

   
   

   
  10.1.2.    Effect of Expiration of the Term. Following the expiration of the Term, the grants in Section 2.1 shall become perpetual, fully-paid, royalty-free, and irrevocable.

   
   

   
  10.2       Termination for Material Breach.

   
   

   
  10.2.1.    Material Breach. If either Party (the “Non-Breaching Party”) believes that the other Party (the “Breaching Party”) has materially breached one or more of its material obligations under this Agreement, then the
      Non-Breaching Party may deliver notice of such material breach to the Breaching Party (a “Default Notice”). If the Breaching Party fails to cure such breach [***] for breach of payment obligations) after receipt of the Default Notice, the
      Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party. Notwithstanding the foregoing, if such default cannot be cured within such first [***], such termination will not be effective if such breach has been cured
      within [***] after such notice if the Breaching Party commences actions to cure such default within such [***] period and thereafter diligently continues such actions. For the avoidance of doubt, the exception set forth in the foregoing sentence
      shall not apply with respect to any material breach of payment obligations.

   
   

   
  10.2.2.    Disputed Breach. If the alleged Breaching Party disputes in good faith the existence or materiality of a breach specified in a notice provided by the Non-Breaching Party in accordance with Section 10.2.1 and such alleged Breaching Party provides the Non-Breaching Party notice of such Dispute within the applicable period set forth in Section 10.2.1, then the cure periods set forth in Section 10.2.1 shall not be tolled during the pendency of the dispute resolution process as set forth in Section 11.6 and the non-Breaching Party will not have the right to terminate this
      Agreement under Section 10.2.1 unless and until such dispute resolution process has been completed (including any cure periods set forth therein).

   
   

   
  10.3       Additional Termination by AbbVie and Licensee.

   
   

   
  10.3.1.    If Licensee or any of its Affiliates or Sublicensees, anywhere in the Territory, challenges, or otherwise aides any Third Party to challenge, any claim in an AbbVie Patent (or any corresponding worldwide family member) as invalid,
      unenforceable or otherwise not patentable or as not being infringed by Licensee’s activities absent the rights and licenses granted hereunder (each, a “Patent Challenge”), AbbVie shall have the right to immediately terminate this Agreement in
      its entirety, including the rights of any Sublicensees, upon written notice to Licensee; provided that with respect to any Third Party Sublicensee, AbbVie will not have the right to terminate this Agreement under this Section 10.3.1 if Licensee (a) causes such Patent Challenge to be terminated or dismissed (or in the case of ex parte proceedings, multi-party proceedings, or other Patent Challenges in which the challenging party does not have
      the power to unilaterally cause the Patent Challenge to be withdrawn, causes such Sublicensee to withdraw as a party from such Patent Challenge and to cease actively assisting any other party to such Patent Challenge) or (b) terminates such
      Sublicensee’s sublicense to the Patents being challenged by the Sublicensee, in each case, within [***] of AbbVie’s notice to the other Party under this Section 10.3.1. If under Applicable Law AbbVie cannot
      terminate this Agreement as provided in Section 10.3.1, or AbbVie decides not to terminate this Agreement pursuant to Section 10.3.1, then Licensee shall continue to pay AbbVie
      according to ARTICLE 4 during and after such challenge, unless all claims in all AbbVie Patents are found invalid, unenforceable or otherwise not patentable; and if all claims in all AbbVie Patents are found
      invalid, unenforceable or otherwise not patentable, all payment obligations by Licensee under ARTICLE 4 shall be reduced by [***].

   
  
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  10.3.2.   AbbVie may terminate this Agreement in its entirety immediately if none of Licensee, its Affiliates or its Sublicensees conducts any material amount of Development or Commercialization of a Licensed Compound or Licensed
        Product for a consecutive period of [***] during the Term, effective immediately upon AbbVie providing written notice to Licensee; provided that if Licensee does not conduct such Development or Commercialization as required under this
        Section 10.3.2 as a result of a safety concern, regulatory issue, clinical hold, or injunction or other operation of law and Licensee is using Commercially Reasonable Efforts to diligently seek to remedy such
        issue, such [***] period will be extended for each day any of the foregoing listed in this clause (a) caused such failure to conduct such Development or Commercialization.

   
   

   
  10.3.3.    Licensee may terminate this Agreement in its entirety, for any or no reason, upon [***] prior written notice to AbbVie.

   
   

   
  10.4       Termination for Bankruptcy, Insolvency or Similar Event. If either Party (a) becomes the subject, whether voluntarily or involuntarily, of any bankruptcy, insolvency, receivership or similar proceeding, and, in the event of
      an involuntary case under the bankruptcy code, such case is not dismissed commencement thereof; (b) makes an assignment for the benefit of creditors; (c) appoints or suffers appointment of a receiver or trustee over substantially all of its property;
      (d) proposes a written agreement of composition, arrangement, readjustment or extension of its debts; (e) files for or is subject to the institution of bankruptcy, liquidation or receivership proceedings; (f) admits in writing its inability to meet
      its obligations as they fall due in the general course; or (g) becomes subject to a warrant of attachment, execution, or distraint or similar process against substantially all of its property, then the other Party may terminate this Agreement, in
      whole or in part and in its sole discretion, effective immediately upon written notice to the other Party.

   
   

   
  10.5       Termination in Entirety. In the event of a termination of this Agreement for any reason:

   
   

   
  10.5.1.    all rights and licenses granted by AbbVie hereunder shall immediately terminate;

   
   

   
  10.5.2.    Licensee shall, and hereby does, effective as of the effective date of termination, grant (without any further action required on the part of AbbVie) to AbbVie and its Affiliates, an exclusive, royalty-free, fully paid, worldwide,
      irrevocable, perpetual license, with the right to grant sublicenses through multiple tiers, under the Reversion Technology to Exploit in the Territory any Reversion Product in the Field in the Territory (the “Reversion License”).

   
   

   
  10.5.3.    at AbbVie’s request, Licensee shall, and hereby does, effective as of the effective date of termination, assign to AbbVie all of its right, title, and interest in and to all Regulatory Documentation (including any Regulatory
      Approvals and INDs) applicable to any Reversion Product then owned by Licensee or any of its Affiliates, and shall cause any and all Sublicensees to assign to AbbVie any such Regulatory Documentation then owned by such Sublicensees;

   
  
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  10.5.4.    Licensee shall, and hereby does, effective as of the effective date of termination, grant AbbVie an exclusive, royalty-free license and right of reference, with the right to grant multiple tiers of sublicenses and further rights of
      reference, under all Regulatory Documentation (including any Regulatory Approvals and INDs) then Controlled by Licensee or any of its Affiliates or Sublicensees that are not assigned to AbbVie pursuant to Section 10.5.3 above

      that are necessary for AbbVie or any of its Affiliates or Sublicensees to Develop or Commercialize any Reversion Product and any improvement to any of the foregoing, as such Regulatory Documentation exists as of the effective date of such termination
      of this Agreement; and

   
   

   
  10.5.5.   at AbbVie’s request, Licensee shall, and hereby does, effective as of the effective date of termination assign to AbbVie all right, title, and interest of Licensee in each Product Trademark.

   
   

   
  10.6       Transition Assistance. In the event of a termination of this Agreement for any reason, Licensee shall, at AbbVie’s written request, perform any or all of the following and agree upon a transition plan with AbbVie that shall
      address the timing and logistics of the following:

   
   

   
  10.6.1.    Licensee shall, where permitted by Applicable Law, transfer to AbbVie all of its right, title, and interest in all Regulatory Documentation assigned to AbbVie pursuant to Section 10.5.2;

   
   

   
  10.6.2.    Licensee shall notify the applicable Regulatory Authorities and take any other action reasonably necessary to effect the transfer set forth in Section 10.6.1 above;

   
   

   
  10.6.3.  Licensee shall, unless expressly prohibited by any Regulatory Authority, transfer control to AbbVie of all clinical studies being conducted by Licensee as of the effective date of termination and continue to conduct such clinical
      studies, at Licensee’s cost, for up to [***] to enable such transfer to be completed without interruption of any such clinical study; provided that (a) AbbVie shall not have any obligation to continue any clinical study unless required by
      Applicable Law, and (b) with respect to each clinical study for which such transfer is expressly prohibited by the applicable Regulatory Authority, if any, Licensee shall continue to conduct such clinical study to completion, at Licensee’s cost;

   
   

   
  10.6.4.    Licensee shall assign (or cause its Affiliates to assign) to AbbVie any or all agreements with any Third Party with respect to the conduct of pre-clinical development activities or clinical studies for the Reversion Products,
      including agreements with contract research organizations, clinical sites, and investigators, unless, with respect to any such agreement, such agreement expressly prohibits such assignment, in which case Licensee shall cooperate with AbbVie in
      reasonable respects to secure the consent of the applicable Third Party to such assignment;

   
   

   
  10.6.5.    Licensee shall supply to AbbVie all of AbbVie’s requirements of the Reversion Products until the later of (a) such time as AbbVie has established an alternate, validated source of supply for the Reversion Products, and AbbVie is
      receiving supply from such alternative source and (b) the date that is [***] following the effective date of the termination of this Agreement. The cost to AbbVie for such supply shall be at Licensee’s actual cost to Manufacture such Reversion
      Products plus [***];

   
   

   
  10.6.6.    at Licensee’s expense, to the extent applicable, Licensee shall within [***] of AbbVie’s written request, (a) diligently conduct a Know-How transfer to AbbVie, including all relevant Know-How and data, included in the license set
      forth in Section 10.5.2, and (b) provide other reasonable assistance necessary to permit AbbVie to Develop, Manufacture or Commercialize such Licensed Products;

   
  
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  10.6.7.    Licensee shall duly execute and deliver, or cause to be duly executed and delivered, such instruments and shall do and cause to be done such acts and things, including the filing of such assignments, agreements, documents, and
      instruments, as may be necessary under, or as AbbVie may reasonably request in connection with, or to carry out more effectively the purpose of, or to better assure and confirm unto AbbVie its rights under, Section 10.5 and

      this Section 10.6.

   
   

   
  10.7       Remedies. Except as otherwise expressly provided herein, termination of this Agreement in accordance with the provisions hereof shall not limit remedies that may otherwise be available in law or equity.

   
   

   
  10.8       Accrued Rights; Surviving Obligations. Termination or expiration of this Agreement for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a Party prior to such termination or
      expiration. Such termination or expiration shall not relieve a Party from obligations that are expressly indicated to survive the termination or expiration of this Agreement. Without limiting the foregoing, ARTICLE [***] of this Agreement shall
      survive the termination or expiration of this Agreement for any reason.

   
   

   
  Article 11

      MISCELLANEOUS

   
   

   
  11.1       Force Majeure. Neither Party shall be held liable or responsible to the other Party or be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement
      (other than an obligation to make payments) when such failure or delay is caused by or results from events beyond the reasonable control of the non-performing Party, including fires, floods, earthquakes, hurricanes, embargoes, shortages, epidemics,
      quarantines, war, acts of war (whether war be declared or not), terrorist acts, insurrections, riots, civil commotion, strikes, lockouts, or other labor disturbances (whether involving the workforce of the non-performing Party or of any other
      Person), acts of God or acts, omissions or delays in acting by any governmental authority (except to the extent such delay results from the breach by the non-performing Party or any of its Affiliates of any term or condition of this Agreement). The
      non-performing Party shall notify the other Party of such force majeure within [***] after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration, and any action being taken to avoid or
      minimize its effect. The suspension of performance shall be of no greater scope and no longer duration than is necessary and the non-performing Party shall use commercially reasonable efforts to remedy its inability to perform. Without limitation to
      the foregoing, if Licensee is the non-performing Party and the suspension of performance continues for [***] after the date of the occurrence, AbbVie shall have the right to terminate this Agreement pursuant to Section 10.2.1

      as if Licensee had committed a material breach, except that in such event no cure period shall apply and AbbVie shall have the right to effect such termination upon written notice to Licensee, in its sole discretion.

   
   

   
  11.2       Export Control. The Parties acknowledge that certain products, technology, technical data and software (including certain services and training) and certain transactions may be subject to export controls or sanctions under
      Applicable Law (including the Export Administration Regulations, 15 C.F.R. §§730-774, the International Traffic in Arms Regulations, 22 C.F.R. Parts 120-130, and sanctions programs implemented by the Office of Foreign Assets Control of the U.S.
      Department of the Treasury). Each Party agrees that it will not knowingly export, directly or indirectly, any technical information acquired from the other Party under this Agreement or any products using such technical information to a location or
      in a manner that at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so from the appropriate agency or other governmental entity in accordance with Applicable Law.

   
  
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  11.3       Assignment. No Party shall, without the prior written consent of the other Party, sell, transfer, assign, delegate, pledge, or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this
      Agreement or any of its rights or duties hereunder to any Third Party that is not an Affiliate of the assigning Party; provided, however, that no such consent shall be required in connection with (a) a sale of all or substantially all of the assets
      of such Party to which this Agreement relates, (b) any merger or other change of control of such Party, or (c) AbbVie’s sale, transfer, assignment, delegation, pledge, or disposal of its rights to receive royalty payments under this Agreement. With
      respect to an assignment to an Affiliate, the assigning Party shall remain responsible for the performance by such Affiliate of the rights and obligations hereunder. Any attempted assignment or delegation in violation of this Section 11.3 shall be void and of no effect. All validly assigned and delegated rights and obligations of the Parties hereunder shall be binding upon and inure to the benefit of and be enforceable by and against the successors
      and permitted assigns of AbbVie or Licensee, as the case may be. The permitted assignee or permitted transferee shall assume all obligations of its assignor or transferor under this Agreement. Without limiting the foregoing, the grant of rights set
      forth in this Agreement shall be binding upon any successor or permitted assignee of the assigning Party, and the obligations of such Party.

   
   

   
  11.4       Severability. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under any present or future law, and if the rights or obligations of either Party under this Agreement will not be materially
      and adversely affected thereby, (a) such provision shall be fully severable, (b) this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part hereof, (c) the remaining provisions of
      this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom, and (d) in lieu of such illegal, invalid, or unenforceable provision, there shall be
      added automatically as a part of this Agreement a legal, valid, and enforceable provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and reasonably acceptable to the Parties. To the fullest extent
      permitted by Applicable Law, each Party hereby waives any provision of law that would render any provision hereof illegal, invalid, or unenforceable in any respect.

   
   

   
  11.5       Governing Law, Jurisdiction and Service.

   
   

   
  11.5.1.    Governing Law. This Agreement or the performance, enforcement, breach or termination hereof shall be interpreted, governed by and construed in accordance with the laws of the State of New York, United States, excluding any
      conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction; provided, that all questions concerning the construction or effect of patent
      applications and patents shall be determined in accordance with the laws of the country or other jurisdiction in which the particular patent application or patent has been filed or granted, as the case may be. The Parties agree to exclude the
      application to this Agreement of the United Nations Convention on Contracts for the International Sale of Goods.

   
   

   
  11.5.2.    Service. Each Party further agrees that service of any process, summons, notice or document by registered mail to its address set forth in Section 11.7.2 shall be effective service of
      process for any action, suit, or proceeding brought against it under this Agreement in any such court.

   
   

   
  11.6       Dispute Resolution. Except as provided in Section 4.11, if a dispute arises between the Parties in connection with or relating to this Agreement or any document or instrument delivered in
      connection herewith (a “Dispute”), it shall be resolved pursuant to this Section 11.6.

   
   

   
  11.6.1.    General. Any Dispute shall first be referred to the Senior Officers of the Parties, who shall confer in good faith on the resolution of the issue. Any final decision mutually agreed to by the Senior Officers or their delegate
      and reduced to writing shall be conclusive and binding on the Parties. If the Senior Officers or their delegates are not able to agree on the resolution of any such issue within [***] after such issue was first referred to them, then either Party
      may, by written notice to the other Party, elect to initiate an alternative dispute resolution (“ADR”) proceeding pursuant to the procedures set forth in Section 11.6.2 for purposes of having the matter
      settled.

   
  
    34 

    
      
 

  

   

   
  11.6.2.    ADR. Any ADR proceeding under this Agreement shall take place pursuant to the procedures set forth in Schedule 11.6.2.

   
   

   
  11.6.3.    Adverse Ruling. Any determination pursuant to this Section 11.6 that a Party is in material breach of its material obligations hereunder shall specify a (nonexclusive) set of actions to be
      taken to cure such material breach, if feasible.

   
   

   
  11.6.4.    Interim Relief and Tolling. Notwithstanding anything herein to the contrary, nothing in this Section 11.6 shall preclude either Party from seeking interim or provisional relief, including
      a temporary restraining order, preliminary injunction or other interim equitable relief concerning a Dispute following the ADR procedures set forth in Section 11.6.2, if necessary to protect the interests of such
      Party. This Section shall be specifically enforceable.

   
   

   
  11.7       Notices.

   
   

   
  11.7.1.    Notice Requirements. Any notice, request, demand, waiver, consent, approval, or other communication permitted or required under this Agreement shall be in writing, shall refer specifically to this Agreement and shall be
      deemed given only if delivered (a) by hand, (b) by internationally recognized overnight delivery service that maintains records of delivery, addressed to the Parties at their respective addresses specified in Section 11.7.2,

      (c) by email, or (d) to such other address as the Party to whom notice is to be given may have provided to the other Party in accordance with this Section 11.7.1. Such notice shall be deemed to have been
      given as of the date delivered by hand, on the [***] (at the place of delivery) after deposit with an internationally recognized overnight delivery service, or as of the date of an email is sent. This Section 11.7.1 is

      not intended to govern the day-to-day business communications necessary between the Parties in performing their obligations under the terms of this Agreement.

   
   

   
  11.7.2.    Address for Notice.

   
   

   
  If to Licensee, to:

   
   

   
  Disc Medicine, Inc.

      400 Technology Square, 10th Floor

      Cambridge, MA 02139

      Attention: Brian MacDonald

   
   

   
  With a copy to (which will not constitute notice):

   
   

   
  Goodwin Procter LLP

      100 Northern Avenue

      Boston, Massachusetts 02210

      Attention: William Collins

      Email: wcollins@goodwinlaw.com

   
  
    35 

    
      
 

  

   

   
  If to AbbVie, to:

   
   

   
  AbbVie Inc.

      1 North Waukegan Road

      North Chicago, Illinois 60064 U.S.

      Attention: [***]

      Fax: [***]

   
   

   
  11.8       Entire Agreement; Amendments. This Agreement and Schedules attached hereto [***] sets forth and constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof and all prior
      agreements, understandings, promises, and representations, whether written or oral, with respect thereto are superseded hereby (including that certain Confidentiality Agreement between Licensee and AbbVie or their respective Affiliates effective as
      of December 10, 2018). Each Party confirms that it is not relying on any representations or warranties of the other Party except as specifically set forth in this Agreement. No amendment, modification, release, or discharge shall be binding upon the
      Parties unless in writing and duly executed by authorized representatives of both Parties.

   
   

   
  11.9       Waiver and Non-Exclusion of Remedies. Any term or condition of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written
      instrument duly executed by or on behalf of the Party waiving such term or condition. The waiver by either Party hereto of any right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other
      right hereunder or of any other breach or failure by such other Party whether of a similar nature or otherwise. The rights and remedies provided herein are cumulative and do not exclude any other right or remedy provided by Applicable Law or
      otherwise available except as expressly set forth herein.

   
   

   
  11.10     English Language. This Agreement shall be written and executed in, and all other communications under or in connection with this Agreement shall be in, the English language. Any translation into any other language shall not
      be an official version thereof, and in the event of any conflict in interpretation between the English version and such translation, the English version shall control.

   
   

   
  11.11     No Benefit to Third Parties. Except as provided in ARTICLE 9, covenants and agreements set forth in this Agreement are for the sole benefit of the Parties hereto and their successors and
      permitted assigns, and they shall not be construed as conferring any rights on any other Persons.

   
   

   
  11.12     Further Assurance. Each Party shall duly execute and deliver, or cause to be duly executed and delivered, such further instruments and do and cause to be done such further acts and things, including the filing of such
      assignments, agreements, documents, and instruments, as may be necessary or as the other Party may reasonably request in connection with this Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and
      confirm unto such other Party its rights and remedies under this Agreement.

   
   

   
  11.13     Relationship of the Parties. It is expressly agreed that AbbVie, on the one hand, and Licensee, on the other hand, shall be independent contractors and that the relationship between the two Parties shall not constitute a
      partnership, joint venture, or agency, including for all tax purposes. Neither AbbVie, on the one hand, nor Licensee, on the other hand, 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, without the prior written consent of the other Party to do so. All persons employed by a Party shall be employees of such Party and not of the other Party and all costs and obligations incurred by reason
      of any such employment shall be for the account and expense of such Party.

   
  
    36 

    
      
 

  

   

   
  11.14     Performance by Affiliates and Sublicensees. Each Party acknowledges and accepts that the other Party may exercise its rights and perform its obligations (including granting or continuing licenses and other rights) under this
      Agreement either directly or through one or more of its Affiliates. A Party’s Affiliates will have the benefit of all rights (including all licenses and other rights) of such Party under this Agreement. Accordingly, in this Agreement “Licensee” will
      be interpreted to mean “Licensee or its Affiliates” and “AbbVie” will be interpreted to mean “AbbVie or its Affiliates” where necessary to give each Party’s Affiliates the benefit of the rights provided to such Party in this Agreement and the ability
      to perform its obligations (including granting or continuing licenses and other rights) under this Agreement; provided, however, that in any event each Party will remain responsible for the acts and omissions, including financial liabilities, of its
      Affiliates. For clarity, where provisions of this Agreement provide that Licensee shall be “solely” responsible for performing its obligations or the like with respect to a matter, AbbVie acknowledges and accepts that such provisions shall be
      interpreted to mean that, Licensee may perform such obligations either directly or through one or more of its Affiliates, or by a Sublicensee or permitted Third Party subcontractor of Licensee or any of its Affiliates.

   
   

   
  11.15     Counterparts; Facsimile Execution. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This
      Agreement may be executed by facsimile or electronically transmitted signatures and such signatures shall be deemed to bind each Party hereto as if they were original signatures.

   
   

   
  11.16     References. Unless otherwise specified, (a) references in this Agreement to any Article, Section or Schedule shall mean references to such Article, Section or Schedule of this Agreement, (b) references in any Section to any
      clause are references to such clause of such Section, and (c) references to any agreement, instrument, or other document in this Agreement refer to such agreement, instrument, or other document as originally executed or, if subsequently amended,
      replaced, or supplemented from time to time, as so amended, replaced, or supplemented and in effect at the relevant time of reference thereto.

   
   

   
  11.17     Construction. Except where the context otherwise requires, wherever used, the singular shall include the plural, the plural the singular, the use of any gender shall be applicable to all genders and the word “or” is used in
      the inclusive sense (and/or). Whenever this Agreement refers to a number of days, unless otherwise specified, such number refers to calendar days. The captions of this Agreement are for convenience of reference only and in no way define, describe,
      extend, or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. The term “including,” “include,” or “includes” as used herein shall mean including, without limiting the generality of any description
      preceding such term. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction shall be applied against either Party hereto. Each Party represents that it has been represented
      by legal counsel in connection with this Agreement and acknowledges that it has participated in the drafting hereof. In interpreting and applying the terms and provisions of this Agreement, the Parties agree that no presumption will apply against the
      Party which drafted such terms and provisions.

   
   

   
  {SIGNATURE PAGE FOLLOWS}

   
   

   
  
    37 

    
      
 

  

  THIS AGREEMENT IS EXECUTED by the authorized representatives of the Parties as of the Effective Date.

   
   

   
  	ABBVIE DEUTSCHLAND GMBH & CO. KG	 	DISC MEDICINE, INC.	 
	 	 	 	 	 	 
	By:	/s/ Stefan Simianer	 	By:	/s/ Brian MacDonald	 
	 	 	 	 	 	 
	Name:	Stefan Simianer	 	Name:	Brian MacDonald	 
	 	 	 	 	 	 
	Title:	Managing Director of AbbVie Komplementär GmbH, General Partner of AbbVie Deutschland GmbH & Co. KG	 	Title	Chief Executive Officer	 
	 	 	 	 	 	 

   
   

   
  {SIGNATURE PAGE TO LICENSE AGREEMENT} 

   
   

   
  
     

    
      
 

  

  Schedule 1.3

   
   

   
  [***]

    

   
      Schedule 1.4

       

      AbbVie Patents

       

      [***]

      
         

        
          
 

      

      Schedule 1.54

       

      [***]

      
         

        
          
 

      

      Schedule 7.5

       

      Press Release

       

      Disc Medicine Expands Pipeline Focused on Hepcidin Pathway

       

      Enters into exclusive agreement with AbbVie for series of Hemojuvelin Antagonist Monoclonal Antibodies

       

      Cambridge, Mass. - [INSERT DATE] - Disc Medicine, a hematology company that is applying new insights in hepcidin biology to develop therapies addressing ineffective red blood cell production in rare hematological diseases,
        today announced that it has entered into an exclusive license agreement with AbbVie for the worldwide rights to a series of hemojuvelin antagonist monoclonal antibodies. Terms of the license agreement have not been disclosed.

       

      “The addition of these hemojuvelin antagonist antibodies to our pipeline is an excellent strategic fit for Disc Medicine,” said Brian MacDonald, CEO of Disc Medicine. “Our first program is a novel, orally administered
        therapy which increases hepcidin expression to treat iron loading anemias. In contrast, these antibodies target hemojuvelin to reduce hepcidin expression and provide us with the opportunity to develop new approaches to the treatment of anemia in a
        different spectrum of chronic inflammatory and hematological diseases.”

       

      Hepcidin, a small peptide hormone produced in the liver, is the key regulator of iron metabolism that when dysregulated is associated with either iron overload or iron deficiency. Both of these conditions can be associated
        with ineffective red blood cell production, often leading to severe anemia in a range of hematological and non-hematological diseases that can significantly impact lifespan as well as quality of life.

       

      About Disc Medicine

        [INSERT BOILERPLATE LANGUAGE]

      
         

        
          
 

      

      Schedule 11.6.2

       

      [***]

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