Document:

EX-4.4

 Exhibit 4.4 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDEIR HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES
LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

WARRANT TO PURCHASE STOCK 
  

			
	 Company:
	  	 Carbylan Biosurgery, Inc., a Delaware corporation

	 Number of Shares:
	  	 51,971 or such greater amount as set forth in Section 1.7 below

	 Class of Stock:
	  	 Series A Preferred

	 Warrant Price:
	  	 $1.2026 per share

	 Issue Date:
	  	 December 13, 2006

	 Expiration Date:
	  	 The 10th anniversary after the Issue Date

	 Credit Facility:
	  	 This Warrant is issued in connection with the Committed Term Loan Line referenced in the Loan and Security Agreement between Company and Silicon Valley Bank
dated December 13, 2006 (the “Loan Agreement”).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (Silicon
Valley Bank, together with any registered holder from time to time of this Warrant or any holder of the shares issuable or issued upon exercise of this Warrant, “Holder”) is entitled to purchase the number of fully paid and nonassessable
shares of the class of securities (the “Shares”) of the Company at the Warrant Price, all as set forth above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in
this Warrant. 
 ARTICLE 1. EXERCISE. 

1.1    Method of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice
of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Article 1.2, Holder shall also deliver to the Company a check, wire transfer (to an
account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2    Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder
may from time to time convert this Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the
aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 

 1.3    Fair Market Value. If the Company’s
common stock is traded in a public market and the Shares are common stock, the fair market value of each Share shall be the closing price of a Share reported for the business day immediately before Holder delivers its Notice of Exercise to the
Company (or in the instance where the Warrant is exercised immediately prior to the effectiveness of the Company’s initial public offering, the “price to public” per share price specified in the final prospectus relating to such
offering). If the Company’s common stock is traded in a public market and the Shares are preferred stock, the fair market value of a Share shall be the closing price of a share of the Company’s common stock reported for the business day
immediately before Holder delivers its Notice of Exercise to the Company (or, in the instance where the Warrant is exercised immediately prior to the effectiveness of the Company’s initial public offering, the initial “price to
public” per share price specified in the final prospectus relating to such offering), in both cases, multiplied by the number of shares of the Company’s common stock into which a Share is convertible. If the Company’s common stock is
not traded in a public market, the Board of Directors of the Company shall determine fair market value in its reasonable good faith judgment. 

1.4    Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts this
Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has not expired, a
new Warrant representing the Shares not so acquired. 
 1.5    Replacement of Warrants. On
receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount
to the Company or, in the case of mutilation on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.6    Treatment of Warrant Upon Acquisition of Company. 

1.6.1    “Acquisition”. For the purpose of this Warrant, “Acquisition” means
any sale, license, or other disposition of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company where the holders of the Company’s securities before the transaction beneficially
own less than 50% of the outstanding voting securities of the surviving entity after the transaction. 

1.6.2    Treatment of Warrant at Acquisition. 

A)    Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is not an asset
sale and in which the sole consideration is cash, either (a) Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or
(b) if Holder elects not to exercise the Warrant, this Warrant will expire upon the consummation of such Acquisition. The Company shall provide Holder with written notice of its request relating to the foregoing (together with such reasonable
information as Holder may request in connection with 

  
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such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

B)    Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is an “arms
length” sale of all or substantially all of the Company’s assets (and only its assets) to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), either (a) Holder shall exercise its
conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant will continue until the
Expiration Date if the Company continues as a going concern following the closing of any such True Asset Sale. The Company shall provide Holder with written notice of its request relating to the foregoing (together with such reasonable information
as Holder may request in connection with such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

C)    Upon the closing of any Acquisition other than those particularly described in subsections (A) and
(B) above, the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion
of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price and/or number of Shares shall be adjusted accordingly. 

As used herein “Affiliate” shall mean any person or entity that owns or controls directly or indirectly ten (10) percent
or more of the stock of Company, any person or entity that controls or is controlled by or is under common control with such persons or entities, and each of such person’s or entity’s officers, directors, joint venturers or partners, as
applicable. 
 1.7    Number of Shares. The initial aggregate number of shares of Series A
Preferred Stock issuable under this Warrant shall be 51,971; provided, however, at such time as Holder makes any Term Loan Advances to Silicon Valley Bank pursuant to the Loan Agreement, the additional number of shares of Series A Preferred Stock
issuable hereunder shall equal to two and one half percent (2.50%) of each Term Loan Advance divided by the $1.2026. 
 ARTICLE 2.
ADJUSTMENTS TO THE SHARES. 
 2.1    Stock Dividends. Splits. Etc. If the Company
declares or pays a dividend on the Shares payable in common stock, or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which
Holder would have been entitled had Holder owned the Shares of record as of the date the dividend occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number of shares or takes any other action which
increase the amount of stock into which the Shares are convertible, the number of shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares are combined or
consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

  
 -3- 

 2.2    Reclassification. Exchange. Combinations or
Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon
exercise or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other
event. Such an event shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Articles or Certificate (as
applicable) of Incorporation upon the closing of a registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new
securities or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon exercise or
conversion of this Warrant. The amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the
Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 

2.3    Adjustments for Diluting Issuances. The Warrant Price and the number of Shares issuable
upon exercise of this Warrant or, if the Shares are preferred stock, the number of shares of common stock issuable upon conversion of the Shares, shall be subject to adjustment, from time to time in the manner set forth in the Company’s
Articles or Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. The provisions set forth for the Shares in the Company’s Articles or Certificate (as applicable) of
Incorporation relating to the above in effect as of the Issue Date may not be amended, modified or waived, without the prior written consent of Holder unless such amendment, modification or waiver affects the rights associated with all other shares
of the same series and class as the Shares granted to Holder. 
 2.4    No Impairment. The
Company shall not, by amendment of its Articles or Certificate (as applicable) of Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such
action as may be necessary or appropriate to protect Holder’s rights under this Article against Impairment. 

2.5    Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of
this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by
paying Holder the amount computed by multiplying the fractional interest by the fair market value of a full Share. 

2.6    Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the Company shall
promptly notify Holder in writing, and, at the Company’s expense, promptly 

  
 -4- 

 
compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall,
upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 

ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1    Representations and Warranties. The Company represents and warrants to Holder as follows:

 (a)    The initial Warrant Price referenced on the first page of this Warrant is not greater than (i) the price
per share at which the Shares were last issued in an arms-length transaction in which at least $500,000 of the Shares were sold and (ii) the fair market value of the Shares as of the date of this Warrant. 

(b)    All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all
securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or
under applicable federal and state securities laws. 
 (c)    The Company’s capitalization table attached hereto
as Schedule 1 is true and complete as of the Issue Date. 
 3.2    Notice of Certain
Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for sale any
shares of the Company’s capital stock (or other securities convertible into such capital stock), other than (i) pursuant to the Company’s stock option or other compensatory plans, (ii) in connection with commercial credit
arrangements or equipment financings, or (iii) in connection with strategic transactions for purposes other than capital raising; (c) to effect any reclassification or recapitalization of any of its stock; (d) to merge or consolidate
with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten
public offering of the Company’s securities for cash, then, in connection with each such event, the Company shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend,
distribution, or subscription rights (and specifying the date on which the holders of common stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; (2) in
the case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which the holders of common stock will be entitled to exchange their
common stock for securities or other property deliverable upon the occurrence of such event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to the holders of such registration rights. Company will
also provide information requested by Holder reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements. 

  
 -5- 

 3.3    Registration Under Securities Act of 1933, as
amended. The Company agrees that the Shares or, if the Shares are convertible into common stock of the Company, such common stock, shall have certain “piggyback,” registration rights pursuant to and as set forth in the Company’s
Investor Rights Agreement or similar agreement. The provisions set forth in the Company’s Investors’ Right Agreement or similar agreement relating to the above in effect as of the Issue Date may not be amended, modified or waived without
the prior written consent of Holder unless such amendment, modification or waiver affects the rights associated with the Shares in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the
same series and class as the Shares granted to Holder. 
 3.4    No Shareholder Rights. Except
as provided in this Warrant, Holder will not have any rights as a shareholder of the Company until the exercise of this Warrant. 
 ARTICLE 4.
REPRESENTATIONS. WARRANTIES OF HOLDER. Holder represents and warrants to the company as follows: 

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

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

 4.4    Accredited Investor Status. Holder is an “accredited investor” within the
meaning of Regulation D promulgated under the Act. 
 4.5    The Act. Holder understands that
this Warrant and the Shares issuable upon exercise or conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide

  
 -6- 

 
nature of Holder’s investment intent as expressed herein. Holder understands that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless
subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available. 

ARTICLE 5. MISCELLANEOUS. 

5.1    Term. This Warrant is exercisable in whole or in part at any time and from time to time on
or before the Expiration Date. 
 5.2    Legends. This Warrant and the Shares (and the
securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT
AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

5.3    Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon
exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the
transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Silicon
Valley Bank (“Bank”) to provide an opinion of counsel if the transfer is to Bank’s parent company, SVB Financial Group (formerly Silicon Valley Bancshares), or any other affiliate of Bank. Additionally, the Company shall also not
require an opinion of counsel if there is no material question as to the availability of current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker
represents that it has complied with Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale. 

5.4    Transfer Procedure. After receipt by Bank of the executed Warrant, Bank will transfer all
of this Warrant to SVB Financial Group by execution of an Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent Holder
may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such
transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will

  
 -7- 

 
surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable). The Company may refuse to transfer this Warrant or the Shares to any person who directly
competes with the Company, unless, in either case, the stock of the Company is publicly traded. 

5.5    Notices. All notices and other communications from the Company to Holder, or vice versa,
shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may (or on the first business day
after transmission by facsimile) be, in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant and the initial transfer described in Article 5.4 above, all notices to Holder shall be addressed
as follows until the Company receives notice of a change of address in connection with a transfer or otherwise: 
 SVB
Financial Group 
 Attn: Treasury Department 

3003 Tasman Drive, HA 200 

Santa Clara, CA 95054 

Telephone: 408-654-7400 

Facsimile: 408-496-2405 

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

Carbylan Biosurgery, Inc. 

Attn: CFO 

3181 Porter Drive 

Palo Alto, CA 94306 

Telephone: 650 855 6777 

Facsimile: 650 855 9119 

5.6    Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7    Attorneys’ Fees. In the event of any dispute between the parties concerning the terms
and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8    Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair
market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and
as of such date to be converted pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted and the Company shall promptly deliver a

  
 -8- 

 
certificate representing the Shares or such other securities) issued upon such conversion to Holder. 

5.9    Counterparts. This Warrant may be executed in counterparts, all of which together shall
constitute one and the same agreement. 
 5.10    Governing Law. This Warrant shall be governed
by and construed in accordance with the laws of the State of California, without giving effect to principles regarding conflicts of law. 

[Signature page follows.] 

  
 -9- 

													
	 “COMPANY”
	  		  	 Date:
	  	       December 13, 2006

					
	 CARBYLAN BIOSURGERY, INC.
	  		  		  		  	
					
	 By:
	 	       /s/ George Daniloff
	  		  	 By:
	  	       /s/ Gordon M. Saul

					
	 Name:
	  	       George Daniloff
	  		  	 Name:
	  	       Gordon M. Saul, CFO

		 		  	 (Print)
	  		  		  		  	 (Print)

	 Title:
	  	 Chairman of the Board, President or
	  		  	 Title:
	  	 Chief Financial Officer, Secretary,

		 		  	 Vice President
	  		  		  		  	 Assistant Treasurer or Assistant

		 		  		  		  		  		  	 Secretary

  

					
	 “HOLDER”

	
	 SILICON VALLEY BANK

		
	 By:
	 	     /s/ Liam Fairbairn

		
	 Name:
	 	 Liam Fairbairn

		 		 	 (Print)

		
	 Title:
	 	   Relationship Manager

  
 -10- 

 SCHEDULE 1 

CAPITALIZATION TABLE 

Capitalization table intentionally omitted 

  
 -11- 

 APPENDIX 1 

NOTICE OF EXERCISE 

1.      Holder elects to purchase
                 shares of the Common/Series                  Preferred
[strike one] Stock of                  pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 

[or] 

1.      Holder elects to convert the attached Warrant into Shares/cash [strike one] in the
manner specified in the Warrant. This conversion is exercised for
                                        
of the Shares covered by the Warrant. 
 [Strike paragraph that does not apply.] 

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

					
		 	  
	  	
		 	Holders Name	  	
			
		 	  
	  	
			
		 	  
	  	
		 	(Address)	  	

  

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

					
	 HOLDER:

	
	  

		
	 By:
	 	  

		
	 Name:
	 	  

		 		 	
	 Title:
	 	  

		 		 	
	 (Date):
	 	  

		 		 	

  
 -12- 

 ASSIGNMENT 

For value received, Silicon Valley Bank hereby sells, assigns, and transfers unto 

 

					
		 	 Name:
	 	 SVB Financial Group

		 	 Address:
	 	 3003 Tasman Drive (HA-200)

		 		 	 Santa Clara, CA 95054

			
		 	 Tax ID:
	 	 91-1962278

 that certain Warrant to Purchase Stock issued by     Carbylan Biosurgery,
Inc.     (the “Company”), on     December 13, 2006 (the “Warrant”) together with all rights, title and interest therein. 

 

					
	 SILICON VALLEY BANK

		
	 By:
	 	     /s/ Liam Fairbairn

		
	 Name:
	 	 Liam Fairbairn

		
	 Title:
	 	     Relationship Manager

  

			
	 Date:
	 	   December 13, 2006

 By its execution below, and for the benefit of the Company, SVB Financial Group makes each of the representations and
warranties set forth in Article 4 of the Warrant and agrees to all other provisions of the Warrant as of the date hereof. 
  

					
	 SVB FINANCIAL GROUP

		
	 By:
	 	     /s/ Paulette M. Mehas

		
	 Name:
	 	 Paulette M. Mehas

		
	 Title:
	 	     Treasurer

  
 -13-EX-4.5.1

 Exhibit 4.5.1 

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

	Number of	 Shares: the cumulative, aggregate number of shares of the Company’s Series B Preferred Stock equal to (x) 4.0% of the original
principal amount of each Term Loan (as defined in the Loan Agreement) made to the Company by Silicon Valley Bank pursuant to the Loan Agreement (as defined below) divided by (y) the Warrant Price 

Type/Series of Stock: Series B Preferred Stock 
 Warrant
Price: $1.38 per share 
 Issue Date: October 26, 2011 

Expiration Date: October 26, 2021 See also Section 5.1(b). 

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

THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (together with any successor or
permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable shares (the “Shares”) of the
above-stated Type/Series of Stock (the “Class”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this
Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. Reference is made to Section 5.4 of this Warrant whereby Silicon Valley Bank shall transfer this Warrant to its parent company, SVB Financial Group.

 SECTION 1. EXERCISE. 

1.1     Method of Exercise. Holder may at any time and from time to time exercise this Warrant, in
whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless
exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2     Cashless Exercise. On any exercise of this Warrant, in lieu of payment of the aggregate
Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of this Warrant, or portion hereof as to which this
Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable Shares as are computed using the following formula: 

           X = Y(A-B)/A 

where: 
  

	 	  X =	 the number of Shares to be issued to the Holder; 

  

	 	  Y =	 the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the
aggregate Warrant Price); 

  

	 	  A =	 the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and 

 

	 	  B =	 the Warrant Price. 

1.3     Fair Market Value. If the Company’s common stock is then traded or quoted on a
nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”) and the Class is common stock, the fair market value of a Share shall be the closing price or last sale
price of a share of common stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company’s common stock is then traded in a Trading
Market and the Class is a series of the Company’s convertible preferred stock, the fair market value of a Share shall be the closing price or last sale price of a share of the Company’s common stock reported for the Business Day
immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company multiplied by the number of shares of the Company’s common stock into which a Share is then convertible. If the Company’s
common stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment. 

1.4     Delivery of Certificate and New Warrant. Within a reasonable time after Holder exercises
this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not
expired, a new warrant of like tenor representing the Shares not so acquired. 
 1.5     Replacement
of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory
in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new
warrant of like tenor and amount. 
 1.6     Treatment of Warrant Upon Acquisition of Company.

 (a)     Acquisition. For the purpose of this Warrant, “Acquisition”
means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into
or with another person or entity (other than a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in which the stockholders of the Company in their capacity as such immediately
prior to such merger, consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) 

  
 2 

 
outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other transfer by the stockholders of the Company of shares representing at
least a majority of the Company’s then-total outstanding combined voting power. 
 (b)    
Treatment of Warrant at Acquisition. In the event of an Acquisition in which the consideration to be received by the Company’s stockholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable
Securities (a “Cash/Public Acquisition”), either (i) Holder shall exercise this Warrant pursuant to Section 1.1 and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the
consummation of such Acquisition or (ii) if Holder elects not to exercise the Warrant, this Warrant will expire immediately prior to the consummation of such Acquisition. 

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

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

(e)     As used in this Warrant, “Marketable Securities” means securities meeting
all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and is then current in its filing of all required reports under the Exchange Act and in compliance with all other public information reporting requirements of the Securities and Exchange Commission or any other federal agency at the time
administering the Exchange Act which reporting requirements are conditions to the availability of Rule 144 for the sale of the issuer’s Common Stock; (ii) the class and series of shares or other security of the issuer that would be
received by Holder in connection with the Acquisition were Holder to exercise this Warrant on or prior to the closing thereof is then traded in a Trading Market, and (iii) Holder would be able to publicly re-sell, no later than six
(6) months following the closing of such Acquisition, all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of such
Acquisition. 
 SECTION 2. ADJUSTMENTS TO THE SHARES AND WARRANT PRICE. 

  
 3 

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

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

2.3     Conversion of Preferred Stock. If the Class is a class and series of the Company’s
convertible preferred stock, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into common stock pursuant to the provisions of the Company’s Certificate of Incorporation,
including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its common stock pursuant to an effective registration statement under the Act (the “IPO”), then from and
after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of shares of common stock into which the Shares would have been converted had the Shares been outstanding on the
date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of shares of common stock into which one Share would have been converted, all subject to further
adjustment thereafter from time to time in accordance with the provisions of this Warrant. 
 2.4    
Adjustments for Diluting Issuances. Without duplication of any adjustment otherwise provided for in this Section 2, the number of shares of common stock issuable upon conversion of the Shares shall be subject to anti-dilution adjustment
from time to time in the manner set forth in the Company’s Articles or Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. 

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

  
 4 

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

3.1     Representations and Warranties. The Company represents and warrants to, and agrees with,
the Holder as follows: 
   (a)     The initial Warrant Price referenced on the first page of
this Warrant is not greater than the price per share at which shares of the Class were last sold and issued prior to the Issue Date hereof in an arms-length transaction in which at least $500,000 of such shares were sold. 

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

  (c)     The Company’s capitalization table attached hereto as Schedule 1 is true and
complete, in all material respects, as of the Issue Date. 
 3.2     Notice of Certain Events.
If the Company proposes at any time to: 
   (a) declare any dividend or distribution upon the outstanding shares
of the Class or common stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; 

  (b) offer for subscription or sale pro rata to the holders of the outstanding shares of the Class any additional
shares of any class or series of the Company’s stock (other than pursuant to contractual pre-emptive rights); 

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

  (e) effect an IPO; 

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

  (1) at least seven (7) Business Days prior written notice of the date on which a record will
be taken for such dividend, distribution, or subscription rights (and specifying 

  
 5 

 
the date on which the holders of outstanding shares of the Class will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and
(b) above; 
   (2) in the case of the matters referred to in (c) and (d) above at
least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Class will be entitled to exchange their shares for the securities or other
property deliverable upon the occurrence of such event); and 
   (3) with respect to the IPO, at
the same time that notice of the IPO is provided to stockholders of the Company with registration rights. 
 Reference is made to
Section 1.6(c) whereby this Warrant will be deemed to be exercised pursuant to Section 1.2 hereof if the Company does not give written notice to Holder of a Cash/Public Acquisition as required by the terms hereof. Company will also provide
information requested by Holder that is reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements. 

3.3     Registration Under Securities Act of 1933, as amended. The Company agrees that the Shares
or, if the Shares are convertible into common stock of the Company, such common stock, shall have certain “piggyback” and “S-3” registration rights pursuant to and as set forth in the Company’s Amended and Restated
Registration Rights Agreement dated as of November 9, 2007, as amended from time to time (the “Rights Agreement”) upon Holder’s execution of an amendment to the Rights Agreement, in a form satisfactory to the Company and Holder.
The provisions set forth in the Company’s Investors’ Right Agreement or similar agreement relating to the above in effect as of the Issue Date may not be amended, modified or waived without the prior written consent of Holder unless such
amendment, modification or waiver affects the rights associated with the Shares in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the same series and class as the Shares granted to
Holder. 
 SECTION 4. REPRESENTATIONS. WARRANTIES OF THE HOLDER. 

The Holder represents and warrants to the Company as follows: 

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

  
 6 

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

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

4.6     Market Stand-off Agreement. The Holder agrees that the Shares shall be subject to the
Market Standoff provisions in Section 5 of the Rights Agreement. 
 4.7     No Voting
Rights. Holder, as a Holder of this Warrant, will not have any voting rights until the exercise of this Warrant. 
 SECTION 5.
MISCELLANEOUS. 
 5.1     Term and Automatic Conversion Upon Expiration. 

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

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

5.2     Legends. The Shares (and the securities issuable, directly or indirectly, upon conversion
of the Shares, if any) shall be imprinted with a legend in substantially the following form: 

  
 7 

 THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE ISSUER TO SILICON VALLEY BANK DATED
OCTOBER 26, 2011, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH
REGISTRATION. 
 5.3     Compliance with Securities Laws on Transfer. This Warrant and the
Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state
securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company
shall not require Holder to provide an opinion of counsel if the transfer is to SVB Financial Group (Silicon Valley Bank’s parent company) or any other affiliate of Holder, provided that any such transferee is an “accredited investor”
as defined in Regulation D promulgated under the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act. 

5.4     Transfer Procedure. After receipt by Silicon Valley Bank of the executed Warrant, Silicon
Valley Bank will transfer all of this Warrant to its parent company, SVB Financial Group. By its acceptance of this Warrant, SVB Financial Group hereby makes to the Company each of the representations and warranties set forth in Section 4
hereof and agrees to be bound by all of the terms and conditions of this Warrant as if the original Holder hereof. Subject to the provisions of Section 5.3 and upon providing the Company with written notice, SVB Financial Group and any
subsequent Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in
connection with any such transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will
surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any subsequent transferee other than SVB Financial Group shall agree in writing with the Company to be bound by all of
the terms and conditions of this Warrant. Notwithstanding any contrary provision herein, at all times prior to the IPO, Holder may not, without the Company’s prior written consent, transfer this Warrant or any portion hereof, or any Shares
issued upon any exercise hereof, or any shares or other securities issued upon any conversion of any Shares issued upon any exercise hereof, to any person or entity who directly competes with the Company, except in connection with an Acquisition of
the Company by such a direct competitor. 
 5.5     Notices. All notices and other
communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after
being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day
following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished to the Company or 

  
 8 

 Holder, as the case may be, in writing by the Company or such Holder from time to time in
accordance with the provisions of this Section 5.5. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise: 

  SVB Financial Group 

  Attn: Treasury Department 

  3003 Tasman Drive, HA 200 

  Santa Clara, CA 95054 

  Telephone: 408-654-7400 

  Facsimile: 408-496-2405 

  Email address: warradmi@svb.com 

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

  Carbylan Biosurgery, Inc. 

  Attn: Chief Business Officer 

  3181 Porter Drive 

  Palo Alto, CA 94304 

  Telephone: 650 855 6777 

  Facsimile: 650 855 9119 

  Email: gsaul@carbylan.com 

5.6     Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated
(either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7     Attorney’s Fees. In the event of any dispute between the parties concerning the terms
and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

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

5.10   Headings. The headings in this Warrant are for purposes of reference only and shall not limit or
otherwise affect the meaning of any provision of this Warrant. 
 5.11   Business Days.
“Business Day” is any day that is not a Saturday, Sunday or a day on which Silicon Valley Bank is closed. 

[Remainder of page left blank intentionally] 

[Signature page follows] 

  
 9 

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

			
	 “COMPANY”
  

CARBYLAN BIOSURGERY, INC.
  

	By:	 	      /s/ George
Daniloff

			
		
	Name:	 	 George Daniloff

		 	(Print)
	
	Title: President and CEO
	
	“HOLDER”
	
	SILICON VALLEY BANK

			
		
	By:	 	      /s/ Kevin
Longo

			
		
	Name:	 	 Kevin Longo

		 	(Print)

 Title: Relationship Manager 

  
 10 

 APPENDIX 1 

NOTICE OF EXERCISE 

1.       The undersigned Holder hereby exercises its right purchase
                 shares of the Common/Series              Preferred [circle one] Stock of
                                 (the “Company”) in
accordance with the attached Warrant To Purchase Stock, and tenders payment of the aggregate Warrant Price for such shares as follows: 
  

			
	 [     ]
	  	 check in the amount of $________ payable to order of the Company enclosed herewith

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

		
	 [    ]
	  	 Cashless Exercise pursuant to Section 1.2 of the Warrant

		
	 [    ]
	  	 Other [Describe]
                                         
                                         
                  

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

					
		
	  
	 	
		  	 Holder’s Name
  
	 	
		
	  
	 	
		  		 	
	  
	 	
		  	 (Address)
	 	

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

			
	 HOLDER:
  

	  

		 	
	  
 By:
	 	  

 
			
		
	 Name:
	 	  

 
			
		
	 Title:
	 	  

 
			
		
	 (Date):
	 	  

	

  
 Appendix 1 

 SCHEDULE 1 

Company Capitalization Table 

Capitalization table intentionally omitted

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