Document:

Exhibit 10.6

 

Confidential Information omitted and filed separately with the Securities and Exchange Commission. Five asterisks denote omissions.

 

AGREEMENT
FOR FEE-PER-SERVICE

 

This Agreement for fee-per-service
(this “Agreement’) is effective by and between Clementia Pharmaceuticals, Inc., a privately held biopharmaceutical
company with an address at 4150 Sainte-Catherine St. West, Suite 550, Montreal, Quebec, H3Z 2Y5, in the person of Clarissa Desjardins,
PhD, CEO (“Clementia”), and Istituto Ortopedico Rizzoli, a public institution with registered office in Bologna,
Via di Barbiano n. 1/10 (CAP. 40136), Tax ID and VAT n. 00302030374, in the person of the Chief of SC Amministrazione della Ricerca,
Dr. Pierpaola D’Alessandro, [*****], authorized to the signature of this Agreement on behalf
of Legal Representative, by IOR Resolution nr. 199 of 2016, Aug 1st (“Rizzoli”/“IOR”) hereafter referred
as “Party”/“Parties”.

 

WHEREAS, Clementia
is a biopharmaceutical company dedicated to developing treatments for ultra-rare diseases, including Multiple Osteochondromas.

 

WHEREAS, Rizzoli
is one of the leading Italian Institutes specialized in the field of orthopedics and traumatology, having in 1981 been awarded
by the status of “Scientific Institute of recovery and care” by the Italian Ministry of Health. At Rizzoli is held
the structure “Medical Genetics and Rare Orthopaedic Diseases Department” (hereinafter “MG”) aims
to diagnose and take care of patients affected by rare skeletal dysplasias and other orphan diseases. In addition, this Unit, whose
scientific interest area is the field· of genetic and genomic research, collects and stores clinical and genealogical information
of patients (Disease Registries) integrated with the molecular results to perform genotype-phenotype correlations. In particular,
MG has implemented proprietary registries and databases (i.e. “Multiple Osteochondromas Registry”, “Diagnosis
Data Registry” etc.), hereinafter jointly defined as “REM”.

 

WHEREAS, Clementia
intends to obtain Registry data processing and analyses from Rizzoli’s REM for use in Clementia’s Multiple Osteochondroma
(“MO”) research program (the “Project”), as defined below, and with the goal of advancing research and
patient care in MO, which pertains to the area of activity of both parties.

 

NOW, THEREFORE,
the parties hereby agree as follows:

 

Article 1

Definitions and exhibits

 

1.1For purposes
of this Agreement, the following terms shall have the meanings specified below:

 

“Effective date”
shall mean the date referred to in art. 9.1 where this present Agreement becomes legally binding.

 

“Registry Data
Analyses” shall mean aggregated demographic, clinical, genetic and other aggregate evaluation of anonymous data requested
by Clementia and extracted from REM, as more particularly described in Exhibit A (Technical Annex).

 

“Project”
shall mean an iterative exploration of data contained in the REM to design the development program with the aim to improve MO patients’
treatments and protocols.

    	 

    	

    

“Scientific
Report” shall mean a document, in paper or digital format, that describes the process, progress and results of a scientific
research. It might also include recommendations and conclusions of the research and implemented guidelines. This document usually
includes the Introduction, the Experimental section (where the materials and methods used are described), the Result section where
the achieved outcomes are described, the Discussion of results and a Reference section.

 

“Proprietary
Information” shall mean the confidential and proprietary information of a Party: (i) which is disclosed by such Party
(the “Disclosing Party”), to the other Party (the “Receiving Party”) hereunder; (ii) that
is disclosed during the execution of the Analyses, independent of its express classification as “Confidential “. Proprietary
Information shall not include information that (a) is in possession of the Receiving Party at the time of disclosure thereof as
demonstrated by written records; (b) is or later becomes part of the public domain through no fault of the Receiving Party; (c)
is received by the Receiving Party from a third party having no obligation of confidentiality to the Disclosing Party; (d) is developed
independently by the Receiving Party without use of Proprietary Information; (e) is required by law or regulation to be disclosed;
provided, however, that the Receiving Party has provided written notice to the Disclosing Party promptly to enable the Disclosing
Party to seek a protective order or otherwise prevent disclosure of such information; or (f) is disclosed by the Receiving Party
in accordance with the terms of the Disclosing Party’s prior written approval. All results of the Project shall be deemed
to be Proprietary Information of Clementia and the MO Registry shall be deemed the Proprietary Information of Rizzoli.

 

“Background”
shall mean all products, methods, new knowledge, technology and inventions, patentable/copyrightable or not, and other intellectual
property that already exists prior the Effective Date of this Agreement.

 

“Project Results”
shall mean all and any intellectual property rights in the Analyses and in the final Scientific Report

 

1.2Technical annex
(Exhibit A) shall be considered as an integral part of the Agreement.

 

Article 2

Object of the Agreement

 

2.1Clementia appoints
Rizzoli, that accepts, to perform research activities that consist of elaborations and analyses on data extracted from Rizzoli‘s REM. In particular, IOR involvement should include a complex selection of anonymized case studies with multiple data extrapolation
from REM IT platform, according to Clementia specifications and requirements (see Exhibit A) . Such research activities could include
revaluations of clinical charts, radiological images and surgical folders revaluations. Clementia will not receive any data extrapolated
form REM IT: the output that IOR should provide will exclusively be a Scientific Report (as foreseen at art 4), resulting from
this internal multistep process, that includes data cleaning, data processing and data analyses.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	2

    	

    

2.2Such Registry
Data Analyses shall be performed on anonymized information/data/records according to the modalities listed and described in the
Technical Annex (Exhibit A).

 

2.3The main purpose
of the Registry Data Analyses report is to increase the knowledge on MO disease in order to provide a chance to better understand
natural history, disease progression, allowing researchers to establish adequate management and specific follow-ups for these patients.
As a consequence, the required service of data analysis is intended to result in more adequate and personalized treatments, reducing
time and cost of specialists with a significant impact on Public Health.

 

Article 3

Scientific and Administrative contacts

 

3.1Rizzoli Chief
Scientific Investigator responsible for the Analyses is Dr. Luca Sangiorgi (Head of Rizzoli MD), responsible also for data security.
Contacts: email: luca.sangiorgi@ior.it; phone: +39 051 6366342

 

3.2The person in
charge on behalf of Clementia for all scientific matters pertaining to the execution of the Analyses (“Project manager”)
is Dr. Donna Grogan (Chief Medical Officer), responsible also for data security. Contacts: email: dgrogan@clementiapharma.com ,
phone: 857-226-5582.

 

3.3Rizzoli Administrative
contacts are: SC Amministrazione della Ricerca - Dr. Pierpaola D’Alessandro; address: Istituto Ortopedico Rizzoli , via di
Barbiano, 1/10, CAP 40136, Bologna (Italy); email: sars@ior.it; phone +39 0516366732; registered mail/PEC: ufficio.ricerca@pec.ior.it;
fax +39 0516366540.

 

3.4Clementia Administrative
contacts are: Jeff Packman, Chief Development Officer; jpackman@clementiapharma.com; 857-226-5581 .

 

Article 4

Implementation procedures

 

4.1Rizzoli will
perform services at MG Structure (via di Barbiano 1/10, 40136 Bologna) according to terms and conditions agreed for in Exhibit
A.

 

4.2As activities
of art. 2 are concerned, the Rizzoli Chief Scientific Investigator declares that the Authorizations to the implementation of the
EM has been obtained by Rizzoli’s Ethical Committee on 2008, July 12nd (prot gen nr. 18139), and subsequent documentation
updates and revisions.

 

4.3Legal Authority
Rizzoli hereby certifies that it has the legal authority and right to use the Registry Data to implement the Analyses, as contemplated
by this Agreement Parties agree that none report should be considered as a kind of validation or authentication released by Public
Authorities.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	3

    	

    

4.4Registry Data
Analyses: to the extent allowed by law, Rizzoli shall provide Clementia with the Registry Data Analyses report to be used by Clementia
solely in accordance with Article 6 of this Agreement The Parties agree that Rizzoli will perform Analyses on the Registry Data,
making all the data totally anonymous in accordance with applicable law, and that the identity of individuals whose data is incorporated
into the REM shall be maintained completely in confidence by Rizzoli, applying all the technical measures to avoid patient identification
and not provided to Clementia hereunder. In the event that Clementia, in connection with the Project, inadvertently learns the
identity of an individual or individuals from whom information was obtained for the REM, Clementia agrees to maintain such individuals’
identities in strict confidence.

 

4.5In the implementation
of the Data Analyses, Rizzoli - in person of the IOR Chief Scientific Investigator - must keep Clementia updated - through its
Project Manager - on the progress of the Analyses, including but not limited to relevant preliminary results.

 

4.6Should events
of any kind interrupt the aforementioned Analyses, Rizzoli - in person of the Chief Scientific investigator - must inform Clementia
- in person of Project Manager - in writing by registered mail with return receipt, and/or by e-mail within four (4) working days.

 

4.7After the conclusion
of activities agreed upon by the Fee-per-Service - it is intended that research activities will take at least 4 months from the
date of last signature of the Contract - , Rizzoli Chief Scientific Investigator shall send to Clementia Project Manager a final
Scientific Report by registered mail with return receipt/PEC.

 

4.8Rizzoli will
provide Clementia with a preliminary Scientific Report by email to be reviewed by Clementia, and within fifteen (15) days from
delivery of the preliminary report - Clementia Project Manager may ask to Rizzoli Chief Scientific investigator for elucidations
and/or further information, integrations, etc. Rizzoli Chief Scientific Investigator should answer to the request for elucidations
within thirty (30) days from arrival of the request. Should Clementia not require any amendments within fifteen (15) days form
arrival of the preliminary Report, Rizzoli will send to Clementia the final Report, and the activity shall be considered fulfilled.

 

4.9Rizzoli Chief
Scientific Investigator may assign qualified staff members and contract staff to jointly work on the project. The choice of Rizzoli
staff for the Analyses is the sole prerogative of Rizzoli. Appointed staff cannot lay claims for an employment contract with Clementia,
the latter being completely independent of the employment contract between the former and Rizzoli.

 

Article 5

Compensation and method of payment

 

5.1Clementia undersigns
to pay Rizzoli the sum of [******]+ VAT for the activity described in this Agreement,
according to the following method and terms of payment:

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	4

    	

    

		·	50% of the total cost, within thirty (30) days from receipt of invoice – such invoice to be
issued by Rizzoli to Clementia at the signature of this Agreement;

 

		·	50% of the total cost, within thirty (30) days from receipt of invoice – such invoice to be
issued Rizzoli to Clementia upon completion of the activities as foreseen at art. 4.

 

5.2Payments must
be settled within thirty (30) days from receipt of invoice, by bank draft to: UNICREDIT BANCA SPA - Agenzia Bologna Pupilli, Via
Pupilli, 1 - 40136 Bologna, [*****]. Should payment not be settled in due date, legal interest rates
will run from that date.

 

Article 6

Use of the Registry Data Analyses

 

6.1Use of Registry
Data Analyses by Clementia: Clementia agrees to use the Registry Data Analyses report for purposes of the Project only, as indicated
at art. 1.1 and in accordance with the terms of this Agreement. In particular, the Analyses is for Clementia internal purpose only,
is not intended to be published and is exclusive and sole proprietary of Clementia. Clementia shall use the Analyses and the data
for the rating and for regulatory purposes only. No commercial or advertising use has been done in the past and shouldn’t
be done for the future.

 

6.2Distribution
of Registry Data Analyses: Clementia shall not provide access to or distribute the Registry Data Analyses report to any third party
other than employees, agents, consultants, regulatory authorities and professional advisors of Clementia, any collaborator or any
third party contractor engaged by Clementia, in each case who are working on the Project and who are bound by obligations comparable
to those set forth in Article 8 or to regulatory authorities.

 

6.3Use of Registry
Data Analyses and of Registry Data by Rizzoli: the Registry Data Analyses report is provided by Rizzoli to Clementia on a non-exclusive
basis and Rizzoli shall be free to use and to supply to third parties such Analyses and the Registry Data from the REM as Rizzoli
may in its sole discretion decide, subject to Article 8.

 

Article 7

Intellectual Property Rights

 

7.1Ownership of
Project Results: Project results, shall vest in, be the property of, and shall be owned exclusively by, Clementia.

 

7.2Background Intellectual
Property: It is recognized and understood that the Background of each Party is the separate property of Clementia and Rizzoli and
that is not affected by this Agreement. Neither party shall have any claims or rights in such separate Background (inventions,
technology or other intellectual property) except as necessary to for the performance of this Agreement.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	5

    	

    

7.3Except as expressly
set forth herein no rights or licenses are granted by either party hereunder.

 

Article 8

Proprietary Information and confidentiality

 

8.1The Parties know
and agree that Rizzoli will analyse and elaborate data that are registered with the Rizzoli due to applicable national legislation.

 

8.2Confidentiality:
from time to time during the term of this Agreement, the Disclosing Party in connection with activities conducted hereunder, may
disclose Proprietary Information to the Receiving Party. The Receiving Party will use the Proprietary Information for purposes
of this Agreement only and will not further use or disclose the Proprietary Information without the prior, written consent of the
Disclosing Party.

 

8.3Return of Proprietary
Information: upon expiration or termination of this Agreement, the Receiving Party, if requested by the Disclosing Party, shall
return or at Disclosing Party’s option destroy, all copies of Proprietary Information disclosed, and all other materials
provided by the Disclosing Party to the Receiving Party under this Agreement; provided, that the Receiving Party may retain one
copy of such other Confidential Information and such materials on a confidential basis for archival purposes only.

 

8.4Use of Name:
No party to this Agreement shall use the name of any other party or of any staff member, employee or student of any other party
or any adaptation thereof in any advertising, promotional or sales literature or in any publicity without the prior written approval
of the party or individual whose name is to be used.

 

Article 9

Term and Termination

 

9.1Term: this Agreement,
unless earlier terminated as provided herein, shall be effective as of the Date of last signature and will terminate on 15.12.2018,
unless extended in writing by mutual agreement prior to the termination date.

 

9.2Termination at
will: either Party may, at any time, terminate this Agreement by giving not less than thirty (30) days’ prior written notice
(by registered mail with return receipt/PEC) to the other.

 

9.3Termination for
Breach: if either party materially breaches any representation, term or condition of this Agreement and fails to remedy such breach
within thirty (30) days after receipt of notice in writing of such material breach from the other Party, the non-breaching Party,
may, in addition to any other remedies that such party may have in law or in equity, terminate this Agreement by sending written
notice (by registered mail with return receipt/PEC) of termination to the other Party.

 

9.4Effect of Termination:
for purposes of clarity, the parties acknowledge that termination of this Agreement shall not prevent Clementia’s continued
use any Registry Data Analyses provided prior to termination.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	6

    	

    

Article 10

Representations and Warranties; Liability and Indemnification

 

10.1Representations
and Warranties of Rizzoli: Rizzo Ii represents and warrants that (a) there is no agreement in effect on the Effective Date between
Rizzoli and any party which prohibits Rizzoli from granting to Clementia the rights set forth hereunder; (b) Rizzoli has the legal
right, authority and power to enter into this Agreement and meet the obligations set forth herein; and (c) Rizzoli has obtained
informed consent from all patients and human subject volunteers in accordance with Article 4.3 of this Agreement and according
to all applicable law and regulations.

 

10.2No Other Representations:
OTHER THAN AS SET FORTH IN THIS AGREEMENT, RIZZOLI MAKES NO REPRESENTATIONS, AND EXTENDS NO WARRANTIES OF ANY KIND , EITHER EXPRESS
OR IMPLIED, WITH RESPECT TO THE REGISTRY DATA AND TO SUCH REGISTRY DATA ANALYSES. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

 

10.3Limitation of
Liability: neither Party shall be liable to the other in contract, tort, negligence, breach of statutory duty or otherwise for
any economic loss or other loss of turnover, profits, business or goodwill or any loss, damage, costs or expenses of any nature
whatsoever incurred or suffered by the other Party or its Affiliates of an indirect or consequential nature arising out of or in
connection with this Agreement.

 

10.4Indemnification
by Clementia: Clementia assumes all liability for damages that may arise from its use of the Registry Data Analyses Clementia agrees
to indemnify, defend, and hold harmless Rizzoli and its representatives, employees, and agents (the “Rizzoli Indemnitees”)
against all losses, expenses (including without limitation any legal expenses), claims, demands, suits, or other actions arising
from Clementia’s activities hereunder except to the extent any of the foregoing was directly caused by the negligence or
willful misconduct of the Rizzoli Indemnitees.

 

10.5Indemnification
by Rizzoli: Rizzoli agrees to indemnify, defend, and hold harmless Clementia and its representatives, employees, and agents (the
“Clementia Indemnitees”) against all losses, expenses (including without limitation any legal expenses), claims, demands,
suits, or other actions arising from any breach by Rizzoli of any of its representations or warranties made herein, except to the
extent the same was directly caused by the negligence or willful misconduct of the Clementia Indemnitees.

 

Article 11

Anticorruption rules

 

11.1The Parties
undertake to comply with all applicable anti-corruption and transparency law rules, according to Italian laws (DL 190/201 , D.Lgs
33/2013 and D.Lgs. 231/01) liability of corporate bodies and, in any case, to refrain from any behavior that is prohibited by the
Italian rules or other applicable regulations against corruption (collectively “Rules against Corruption”).

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	7

    	

    

11.2Parties acknowledge
that any breach of Rules against Corruption will authorize the non-breaching Party to immediately terminate the Agreement, as 1456
of Italian Civil Code.

 

Article 12

Force Majeure

 

12.1Rizzoli is not
responsible for losses, damages, delays or non-execution of tests, if these are caused by unpredictable accidents or force majeure.

 

Article 13

Processing of personal data

 

13.1Rizzoli will
handle processing, diffusion and communication of personal data concerning this Agreement within the scope of its institutional
objectives and in accordance with the current law and regulations.

 

13.2Clementia must
process all personal data coming from Rizzoli only for purposes set out in this Agreement in accordance with the applicable laws
and regulations.

 

Article 14

Governing laws and Jurisdiction

 

14.1The Parties
agree that English shall be the official language of this Agreement.

 

14.2Parties agree
that any issues related to any matter which is not provided for in this Agreement, shall be preliminary discussed truthfully and
in good faith for settlement purposes.

 

14.3In case of dispute
this agreement shall be governed by the Italian Law exclusively.

 

Article 15

Miscellaneous

 

15.1Amendments:
no amendments or changes to or waivers of this Agreement shall be effective unless made in writing and duly executed by an authorized
signatory on behalf of each Party.

 

15.2Entire Agreement:
this Agreement embodies the entire understanding and agreement between the Parties with respect to the subject matter hereof and
supersedes all prior agreements and understandings between the parties hereto, whether written or oral, relating to the subject
matter hereof.

 

15.3Assignment:
this Agreement shall not be assignable by either party without the prior written consent of the other Party, which consent shall
not be unreasonably withheld or delayed. Any attempted assignment in contravention of the foregoing shall be void and of no force
or effect.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	8

    	

    

15.4Notices: any
notices required to be given or which shall be given under this Agreement shall be in writing delivered by recognized overnight
courier service, personal delivery, telecopier (with evidence of receipt), first class mail or by certified or registered mail
(PEC) addressed to the parties as shown at article 3.3 and 3.4.

 

15.5Signatures:
this Agreement may be executed in counterparts. This Agreement may be executed by the signatories hereto and sent electronically,
the electronic copy of said signature being provisionally accepted: then the original hard copy should be sent by courier service.
This Agreement may also be executed by the signatories hereto by electronic signatures in accord with the standards and practices
established by the internal procedures of the Parties. E-signatures will have the same full force and effect as an original signature.

 

15.6Registration
expenses: this Agreement shall be registered for use and at a fixed rate in accordance with artt. 5 and 39 of DPR n. 131/86. Except
as set forth in Article 5, each Party will bear its own expenses under this Agreement.

 

IN WITNESS WHEREOF,
the undersigned have executed this Agreement.

 

	 	CLEMENTIA PHARMACEUTICALS, INC.
	 	 	 	 
	 	Date:                         April 27, 2017                           	 
	 	 	 	 
	 	By:	/Clarissa Desjardins/	 
	 	 	Name: Clarissa Desjardins, PhD	 
	 	 	Title:   Chief Executive Officer	 
	 	 	 	 
	 	ISTITUTO ORTOPEDICO RIZZOLI	 
	 	 	 	 
	 	Date:                         28 MAR 2017                           	 
	 	 	 	 
	 	By: 	/Pierpaola D’Alessandro/	 
	 	 	Name: Dr. Pierpaola D’Alessandro	 
	 	 	Title:   Chief of SC Amminstrazione della Ricerca	 

 

	Seen and Approved	 
	 	 	 	 
	CLEMENTIA PHARMACEUTICALS, INC.	 
	 	 	 	 
	By:	 	/ Donna Grogan/ 27 April 2017	 
	 	 	Dr. Donna Grogan	 
	 	 	 	 
	ISTITUTO ORTOPEDICO RIZZOLI	 
	 	 	 	 
	By:	 	/Luca Sangiorgi/ 28 MAR 2017	 
	 	 	Dr. Luca Sangiorgi	 

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	9

    	

    

The Parties acknowledge
to be bound by each contract clause and specifically approve the following:

 

Article 5 – Compensation and method of payment

Article 6 – Use of the Registry Data Analyses

Article 7 – Intellectual Property Rights

Article 8 – Proprietary Information and confidentiality

Article 9 – Term and termination

Article 11 – Anticorruption rules

Article 14 – Governing laws and Jurisdiction

Article 15.3 – Assignment

 

	 	CLEMENTIA PHARMACEUTICALS, INC.
	 	 	 	 
	 	Date:                         April 27, 2017                           	 
	 	 	 	 
	 	By:	/Clarissa Desjardins/	 
	 	 	Name: Clarissa Desjardins, PhD	 
	 	 	Title:   Chief Executive Officer	 
	 	 	 	 
	 	ISTITUTO ORTOPEDICO RIZZOLI	 
	 	 	 	 
	 	Date:                         28 MAR 2017                           	 
	 	 	 	 
	 	By: 	/Pierpaola D’Alessandro/	 
	 	 	Name: Dr. Pierpaola D’Alessandro	 
	 	 	Title:   Chief of SC Amminstrazione della Ricerca	 

 

	Seen and Approved	 
	 	 	 	 
	CLEMENTIA PHARMACEUTICALS, INC.	 
	 	 	 	 
	By:	 	/ Donna Grogan/ 27 April 2017	 
	 	 	Dr. Donna Grogan	 
	 	 	Chief Medical Officer	 
	 	 	 	 
	ISTITUTO ORTOPEDICO RIZZOLI	 
	 	 	 	 
	By:	 	/Luca Sangiorgi/ 28 MAR 2017	 
	 	 	Dr. Luca Sangiorgi	 

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	10

    	

    

Exhibit A

Technical Annex

 

The Structure that performs
the Research Activity is Rizzoli Medical Genetics and Rare Orthopaedic Diseases Department and CLIBI Laboratory (Responsible: Dr.
Luca Sangiorgi).

 

All the activities will
be conducted by Medical Genetics and Rare Orthopaedic Diseases Department and CLIBI Laboratory personnel (Head/Scientific Responsible:
dr. Luca Sangiorgi)

 

1)INTRODUCTION

 

The data that will processed
and analysed will be included in the Scirntifico Report, that will be sent to Clementia according to this agreement, collected
on REM registry.

 

Multiple Osteochondromas
(MO) is an autosomal dominant disease characterized by the formation of multiple cartilage-capped bone tumours (defined osteochondromas,
OCs) typically located in the long bones. OCs are rarely present at birth and grow in number and size during childhood, until completed
skeletal maturity. The great variability in size and number of lesions reflects the MO clinical heterogeneity which is characterized
by pain, abnormal skeletal growth, decreased range of motion, and deformities. The most serious complication is malignant transformation
of OCs into secondary peripheral chondrosarcomas (1-5%). Actually, surgery is the only available treatment with several operations
in patient lifespan (average 3) and multiple x-ray is the method of choice in patient monitoring.

 

MO is mostly caused
by heterozygous mutations in the heparan sulfate (HS)-synthesizing enzymes EXT1 or EXT2, implicated in the control of cartilage
growth during endochondral ossification; they catalyse polymerization of heparan sulfate glycosaminoglycans (HSGAGs) chains, which
are covalently linked to core proteins, thus forming proteoglycans. Even if some EXT mutations are reported to lead to active enzyme
isoforms, they are supposed to modify the activity of HS polymerases thus leading to the production of HS chains different from
wild-type status; unfortunately, these observations have never been demonstrated in MO patients and the biochemical effect of specific
EXT 1/2 mutations is currently unknown.

 

As known, MO is characterized
by a wide clinical intra- and inter-familial variability, currently unexplained at molecular level. Since various genotype-phenotype
correlation studies failed to identify specific associations between EXT mutations and clinical manifestations. it is likely that
secondary factors influence survival and growth of the lesions.

 

Since EXT mutations
cannot explain all MO genetic aetiology and OC growth is extremely variable in site, size and number, we decided to collect structured
data in a Registry in order to promote more productive genotype-phenotype correlation, to study MO epidemiology and natural history
and to provide our data analyses for researches and studies.

 

As a matter of fact.
a Disease Registry is a collection of personal, clinical, genetic data of patients.

 

Many definitions are
available for registry. The US Agency for Healthcare Research and Quality define a Registry as “an organized system that
uses observational study methods to

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	11

    	

    

collect uniform data
(clinical and other) to evaluate specified outcomes for a population defined by a particular disease, condition, or exposure, and
that serves one or more predetermined scientific, clinical or policy purposes” and WHO described in 1974 it as “a file
of documents containing uniform information about individual persons, collected in a systematic and comprehensive way, in order
to serve a pre-determined scientific, clinical or policy purpose”. Many other descriptions can be found internationally,
but them all share few main concepts: a) the realization of an organized system, b) denoted by uniformity of data, c) related to
a specific disease or precise group of patients d) and finalized to explicit purposes.

 

More in details a patient
registry is a powerful tool composed of interconnected elements that work jointly in order to create an organized collection of
information. The word “registry” is composed of two related connotations, the act of register and the entry in a repository
and effectively both meanings are involved in a patient registry. The items collected, like clinical data, laboratory test results,
anamnestic history and so on , are primary to the scope, but them all are connoted by consistent uniformity both in the nuance
of data type composition and in structuring of data themselves.

 

Starting from 2003 the
Medical Genetics and Rare Orthopedic Diseases Department started a collection of data from patients and families affected by Rare
Diseases (in particular skeletal dysplasia) and in the subsequent years stared to standardize this data collection and in collaboration
with CLIBI Laboratory established the REM (Registry for Mutliple Ostechondromas Disease).

 

2)DESCRIPTION OF THE RESEARCH ACTIVITIES (preliminary
and Analyses)

 

Research activities
(internal to IOR) are composed of multiple steps:

 

		1.	a complex selection of case studies includible in this study;

 

		2.	according to Clementia specifications and requirements, some multiple data extrapolations from REM to .xls file (or similar
format. such as .cvs file );

 

		3.	clinical chart, radiological images and surgical folders revaluations;

 

		4.	a multistep process of data elaboration, that includes data cleaning, data processing and data analyses.

 

All these steps will
be processed after a preliminary point by point evaluation of required data analyses (listed below)

 

After the internal research
activities, IOR will implement the Scientific Report, as output to be provided to Clementia. The scientific report will not include
any personal data that could allow to identify (directly or indirectly) any patient included in the REM.

 

2.1AIM

 

Research activities
of this agreement aim to increase the knowledge on MO disease, mainly by an epidemiologic point of view, taking into account underage
patients.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	12

    	

    

This will be a preliminary
evaluation, helpful to comprehend the disease evolution and pathological development of Osteochondromas.

 

2.2OBJECT OF THE ANALYSES

 

The data analyses imply
a complex selection of interesting cases, according to Clementia specifications and requirements (see 2.4 Data to analyse). Moreover,
REM extrapolated data will be checked, cleaned, processed and at least analysed, following the sequent steps:

 

		·	Evaluation of demographic data categorized by age groups

 

		·	Evaluation of clinical data categorized by age groups

 

		·	Evaluation of radiographical data categorized by age groups

 

		·	Disease Evolution studies by age groups

 

		·	Number, sites, localizations of OC analyzed by age groups

 

		·	Number and type of surgical interventions

 

		·	Patients age distribution according to surgical interventions (categorized by age groups)

 

		·	Evaluation of interrelations between OC dimension and functional outcomes (pain, deformities, limitations,
etc.)

 

All mentioned steps
are epidemiological issues composed of more questions.

 

2.3POPULATION UNDER STUDIES

 

All paediatric patients
(<18 age) affected by MO disease.

 

2.4DATA TO ANALYZE

 

In the following pages
there are listed the data that Clementia requires to be included in the Analyses.

 

MO Registry Questions

 

Demographics:

 

		·	Number of children according to the following age categories: 0-6 years, 7-12 years, 12-18 years.

 

		·	Number of males/females by the above age categories, and overall.

 

		·	Number of children per disease stage, by the above age categories and overall.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	13

    	

    

		·	The mean (median, range) patient stature by percentile of normal, by the above age categories and
overall.

 

Disease Characteristics - by age categories and overall:

 

		·	Mean, (median, range) age at diagnosis.

 

		·	What is the mutation type?

 

		·	Mean, (median, range) age at onset of first OC.

 

		·	What is the stage of disease upon entry into the registry?

 

		·	How are functional limitations assessed for the purposes of disease stage classification?

 

		·	How are deformities assessed for the purposes of disease stage classification?

 

		·	How are OCs assessed for categorization of disease stage:

 

		o	Physical examination?

 

		o	Ultrasound?

 

		o	MRI?

 

		o	CT scan?

 

		o	Other?

 

		·	What are the locations of OCs?

 

		o	Are OC typically bilateral or unilateral? Should the data requested below be provided by right/left
regions, or just by region?

 

		o	What are the locations of OCs by age and by age category?

 

		o	What are the locations of OCs by disease stage?

 

		·	What is the mean (median, range) follow-up time?

 

		·	What percent of subjects, by age category and overall, have progressed:

 

		o	From Stage 1 to Stage 2

 

		o	From Stage 1 to Stage 3

 

		o	From Stage 2 to Stage 3?

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	14

    	

    

		·	What is the mean (median, range) time to progression:

 

		o	From Stage 1 to Stage 2

 

		o	From Stage 1 to Stage 3

 

		o	From Stage 2 to Stage 3

 

		·	What medications are used for disease management?

 

		·	What is the percentage of subjects by age category and overall that underwent at least one surgical
excision of OC?

 

		o	Mean (median, range) age of the first surgery

 

		o	What were the reasons for surgery?

 

		·	What is the percentage of subjects by age category and overall that underwent at least one surgical
procedure to correct deformity?

 

		o	Mean (median, range) age of the first surgery

 

		·	What is the mean (median, range) number of surgical procedures performed overall, and by age category?

 

		·	Is there a relationship between number and/or size of OCs as noted by physical examination and/or
imaging and functional outcome (local pain, deformities, and/or decreased ROM)?

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	15

    	

    

	Table 1. ROI Disease Registry Investigation (Age Category)
	 	 	0-6 years	7-12 years	12-18 years	Overall
	Patients	N %	 	 	 	 
	Sex, n (%)	Males

Females	 	 	 	 
	Mutation type, n (%)	EXT 1

EXT 2	 	 	 	 
	Stature	Percentile normal	 	 	 	 
	Age at diagnosis, years	Mean

Median range	 	 	 	 
	Age at first OC, years	Mean

Median (range)	 	 	 	 
	Follow-up time, months	Mean

Median (range)	 	 	 	 
	Stage at entry into the registry, n (%)	Stage 1

Stage 2

Stage 3	 	 	 	 
	Current stage, n (%)	Stage 1

Stage 2

Stage 3	 	 	 	 
	Stage progression, n(%)	Stage 1 to Stage 2

Stage 1 to Stage 3

Stage 2 to Stage 3	 	 	 	 
	Time to Stage progression, years	Mean

Median (range)	 	 	 	 
	At least one surgical excision of OC, n (%)	 	 	 	 	 
	At least one surgery to correct deformity, n (%)	 	 	 	 	 
	Number of surgical procedures	Mean

Median (range)	 	 	 	 
	Age at first surgery	Mean

Median (range)	 	 	 	 

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	16

    	

    

	Table 1. ROI Disease Registry Investigation (Age Category)
	 	 	0-6 years	7-12 years	12-18 years	Overall
	OC location at entry into the registry, n (%)	Ribs

Femur

Radius

Ulna

Carpal bones

Metacarpal bones

Spine

Iliac crest

Proximal femur

Distal femur

Proximal tibia

Distal tibia

Proximal fibula

Distal fibula

Tarsal bones

Metatarsal bones	 	 	 	 
	Osteochondromas at entry into the registry, n (%)	 	 	 	 	 
	Osteochondromas at follow-up, n (%)	 	 	 	 	 
	Time to OC progression	Mean

Median (range)	 	 	 	 
	Deformities at entry into the registry, n (%)	 	 	 	 	 
	Deformities at follow-up, n (%)	 	 	 	 	 
	Time to deformity progression	Mean

Median (range)	 	 	 	 
	Functional limitations at entry into the registry, n (%)	 	 	 	 	 
	Functional limitations at follow-up, n (%)	 	 	 	 	 
	Time to functional limitations	Mean

Median (range)	 	 	 	 

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	17

    	

    

	Table 2. ROI Disease Registry Investigation (Disease Stage)
	 	 	Stage 1	Stage 2	Stage 3	Overall
	OC location at entry into the registry, n (%)	Ribs

Femur

Radius

Ulna

Carpal bones

Metacarpal bones

Spine

Iliac crest

Proximal femur

Distal femur

Proximal tibia

Distal tibia

Proximal fibula

Distal fibula

Tarsal bones

Metatarsal bones	 	 	 	 

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	18Exhibit 10.7

 

Confidential Information omitted and filed separately with the Securities and Exchange Commission. Five asterisks denote omissions.

 

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

COMMERCIAL
SPONSORED RESEARCH AGREEMENT

 

THIS AGREEMENT is entered
into this 21sr day of June, 2016 (the “Effective Date”) by Sanford Burnham Prebys Medical Discovery Institute,
a California not-for-profit public benefit corporation with an address at 10901 N. Torrey Pines Road, La Jolla, California 92037
(“Institute”) and Clementia Pharmaceuticals, Inc., a privately held biopharmaceutical company with an address
at 4150 Sainte-Catherine St West, Suite 550, Montreal, Quebec, H3Z 2Y5, Canada (hereinafter refe1Ted to as “Sponsor”).

 

WHEREAS, the research
program contemplated by this Agreement is of mutual interest and benefit to the Institute and Sponsor and may further the research
mission of the Institute in a manner consistent with its status as a non-profit, tax-exempt, research institution; and

 

WHEREAS, the research
program contemplated by this Agreement is to be funded by Sponsor, and carried out by Yu Yamaguchi, M.D., Ph.D., an employee
of Institute, as the Principal Investigator; and

 

WHEREAS, Sponsor desires
to provide funding to support said research program according to the terms and conditions of this Agreement; and

 

WHEREAS, the Institute
desires to accept such funding according to the terms and conditions of this Agreement.

 

NOW, THEREFORE, the
parties agree as follows:

 

1. Scope of Work/ Performance
Period

 

(a) Subject to the terms
and conditions of this Agreement, the Institute agrees to use reasonable efforts to cause the Principal Investigator to conduct
the research program entitled “Efficacy Testing of Palovarotene on a Mouse Model of MHE” (“Research Program”)
in accordance with Appendix A attached hereto and incorporated herein by reference. The parties acknowledge that
the Research Program will be conducted during the period commencing on the Effective Date above and end within twelve (12)
to eighteen (18) months therefrom (“Performance Period”), and may be extended thereafter by mutual written agreement
of the parties.

 

(b) The Research Program
shall be conducted at the Institute by the Principal Investigator and by such additional research staff working under the Principal
Investigator’s supervision as the Principal Investigator shall reasonably determine in consultation with the Institute. The
Research Program will be performed in strict accordance with applicable regulations and policies, including without limitation,
laws governing the care and use of laboratory animals for research, including the Institute of Laboratory Animal Resources Guide
for the Care and Use of Laboratory Animals, the Laboratory Animal Welfare Regulations (Code of Federal Regulations Title 9);
the Public Health Service Policy on Humane Care and Use of Laboratory Animals and/or any similar law; the requirements of the responsible
institutional animal care and use committee or similar, authorized committee, and other applicable federal state, and local laws,
regulations, and policies.

    	Page 1

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

(c) The Research Program
may include a training component where postdoctoral trainees would perform some aspects of the Research Program. A training component
would provide postdoctoral trainees in-depth opportunities to learn about the Research Program’s underlying science and
technology, and the design and interpretation of research results. The Principal Investigator would provide mentoring, but remain
ultimately responsible for, all aspects of the postdoctoral trainees’ work under the Research Program, which could involve,
among other things, providing training in research design and methods, data interpretation, verbal and written communication and
career advice.

 

(d) Any material alteration
in or significant amendment to the Research Program must be approved in writing by both the Institute and Sponsor prior to such
alteration or amendment becoming effective.

 

2. Principal Investigator

 

In the event that Principal
Investigator becomes unable to complete the Research Program for any reason, the Institute will, to the extent possible, propose
a substitute principal investigator with qualifications reasonably similar to Dr. Yamaguchi for Sponsor’s approval. In the
event Sponsor and the Institute agree upon a substitute Principal Investigator, this Agreement shall continue in full force and
effect.

 

3.

 

(a) Sponsor agrees,
subject to the terms and conditions of this Agreement, to provide to the Institute funds in an amount equal to the costs of conducting
the Research Program, which costs shall be allocated in accordance with the Research Program budget but which costs shall not exceed
[******] during the term of the Agreement. Sponsor
shall make such payments to the Institute in accordance with the following schedule:

 

(i) upon execution of
this Agreement: [******];

 

(ii) upon completion
of Aim 1 of the Research Program to Sponsor’s reasonable satisfaction: [******];

 

(iii) upon completion
of Aim 2 of the Research Program to Sponsor’s reasonable satisfaction: [******]; and

 

(iv) upon submission
of the Final Report in a form reasonably acceptable to Sponsor: [******];

 

(b) It is anticipated
that the parties may desire to extend the Research Program beyond the Performance Period. If both pai1ies desire to extend the
Research Program, they shall make good faith efforts to conclude negotiations of scope and budget three (3) months prior to the
scheduled termination of this Agreement.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 2

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

(c) Any additional payments
must be approved in advance by Sponsor in writing.

 

(d) Any equipment purchased
by Institute as part of the Research Program with Institute’s own funds for use at the Institute shall be owned by the Institute,
shall be physically located at the Institute and shall remain the property of the Institute following completion of the Research
Program. Any equipment or materials purchased by Sponsor for use by Institute as part of the Research Program will be owned by
Sponsor and will be used by Institute solely for purposes of the Research Program and will be returned to Sponsor at the end of
the Research Program.

 

(e) Payment of all sums
due hereunder shall be made by check payable as follows:

 

Sanford Burnham Prebys Medical
Discovery Institute

Attn: Vice President, Finance
& Controller

Finance Department

10901 N. Torrey Pines Road

La Jolla, CA 92037

 

Re: (YAMAGUCHI, Clementia Pharmaceuticals,
CSRA 16-10)

 

(f) Nothing contained
herein shall be construed as requiring the Institute or the Principal Investigator or any Institute research staff to work on any
project or process which is prohibited by law or by any international treaty to which the United States of America is a party,
or which may be harmful or detrimental to public health, safety or good laboratory practices or which may be considered to be immoral.

 

(g) Third Party Licenses.
Sponsor will be responsible for negotiating and entering into any third party license(s) that Sponsor determines may be necessary
for carrying out the Research Program under this Agreement. Sponsor will be solely responsible for obtaining any licenses and/or
other agreements necessary to pursue the Research Program under this Agreement and any costs for such licenses are not already
included in the funding and payment set forth in this Section 3.

 

4. Publications

 

Sponsor acknowledges
that the Institute is a nonprofit research center and that the Principal Investigator shall be free to publish the results of his
research without restraint. The Institute agrees to direct the Principal Investigator, and by acknowledging this Agreement the
Principal Investigator accepts his obligation, to (i) report in writing to Sponsor any manuscript or draft presentation regarding
the Research Program at least thirty (30) days prior to publication; and (ii) notify Sponsor of any conference at which the results
of the Research Program will be presented. Sponsor agrees to hold all such submissions and information in confidence. Sponsor agrees
to promptly notify the Institute and the Principal Investigator if any action is necessary to delete Sponsor Confidential Information
(as hereinafter defined). If Sponsor believes it prudent to secure patent protection for a patentable invention(s) disclosed in
any such material, then, upon Sponsor’s written request, Institute agrees to delay the publication for up to an additional
sixty (60) days to permit Sponsor to pursue such patent protection. If requested by Sponsor, the

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 3

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

Institute agrees to include
in any publication of the results of the Research Program acknowledgment of Sponsor’s financial support of the Research
Program. Sponsor also agrees that Principal Investigator may disclose such financial support if required by a publisher as a condition
of publication. If, after the initial thirty (30) days from the date that P1incipa1 Investigator provides Sponsor with the proposed
publication Sponsor does not respond, then Principal Investigator shall be free to proceed with the publication or presentation
of the results without further delay.

 

5. Sponsor Confidential
Information

 

(a) The parties acknowledge
that Sponsor may disclose to the Institute certain confidential and proprietary info1mation of Sponsor. Such information may take
the form of, among other things: data concerning scientific discoveries made by Sponsor; Sponsor’s marketing plans; Sponsor’s
strategy for or status of regulatory approval; or Sponsor’s forecasts of sales and sales data (hereafter referred to collectively
as “Sponsor Confidential Information”).

 

(b) Sponsor acknowledges
and agrees that none of the information described in subparagraph (a) above will be considered Sponsor Confidential Information
for purposes of this Agreement, unless said information is disclosed to the Institute by Sponsor in writing and is clearly marked
as confidential at the time of disclosure; is verbally disclosed to the Institute by Sponsor, and followed within thirty (30) days
of such verbal disclosure by a writing from Sponsor confirming such disclosure and indicating that such disclosure is confidential;
or is information of a character that Institute would reasonable know is confidential, due to the nature of the information and
the circumstances of its disclosure.

 

(c) Sponsor further
acknowledges and agrees that solely for purposes of Institute’s publication rights under Section 4., Sponsor Confidential
Info1mation shall not include data generated solely by the Institute, or the Principal Investigator or his associates, co-workers
or staff in connection with the Research Program. For the sake of clarification, the inclusion of Institute Confidential Information
or other pre-existing data of Institute’s in results or for generation of the Results does not change the nature of such
information to be that of Sponsor’s. In such an event, the parties will cooperate in good faith, including the execution
of additional agreements or other documents, to ensure that Sponsor has the right to use results notwithstanding the inclusion
of Institute confidential information. If Sponsor desires to use the data and results that are Institute Confidential Information
in any publication of Sponsor’s own, Sponsor agrees to first coordinate with Dr. Yamaguchi in order to preserve Dr. Yamaguchi’s ability to publish the data in peer-reviewed publications.

 

(d) Subject to the terms
and conditions of this Agreement, the Institute hereby agrees that during the term of this Agreement and for a period of five
(5) years thereafter, the Principal Investigator and Institute shall (i) use its best efforts to cause employees, associates, co-workers
and staff not to publicly divulge, disseminate, publish or otherwise disclose any Sponsor Confidential Information without Sponsor’s
prior written consent and to ensure that such employees, associates, co-workers and staff are bound by obligations of confidentiality
at least as stringent as this Agreement; (ii) limit access to Sponsor Confidential Information to those associates, co-workers
and staff who have a need to know such Sponsor Confidential Information in connection with the Research Program, and (iii) return
to Sponsor any

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 4

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

documents, drawings,
sketches, designs, products or samples containing Sponsor Confidential Information, together with any copies thereof, promptly
upon Sponsor’s request therefor.

 

(e) Sponsor and the
Institute acknowledge and agree that the obligations set out in this Paragraph 5 shall not apply to any portion of the Sponsor
Confidential Information which the Institute can demonstrate by competent evidence:

 

(i) was at the time
of disclosure to the Institute, or thereafter became (prior to its publication, divulgence or use) through no fault of the Institute,
a part of the public domain by publication or otherwise; or

 

(ii) the Institute can
demonstrate by written evidence was already properly and lawfully in its possession at the time it was received from Sponsor; or

 

(iii) was lawfully received
by the Institute from a third party who was under no obligation of confidentiality with respect thereto; or

 

(iv) is required by
law or judicial process (including patent applications) to be disclosed provided that Institute gives notice to Sponsor of such
requirement reasonably in advance of disclosure and cooperates with Sponsor’s lawful efforts to reduce or avoid disclosure;
or

 

(v) is independently
developed by the Institute without reference to Sponsor Confidential Information as demonstrated by contemporaneous written records.

 

(f) Sponsor agrees that
it shall not disclose to the Institute any information which is Sponsor Confidential Information except to the extent Sponsor reasonably
believes to be necessary to fulfill its obligations under this Agreement.

 

(g) Sponsor agrees to
treat information disclosed to it by the Institute in the same manner as the Institute agrees to treat Sponsor’s Confidential
Information hereunder.

 

6. Intellectual Property

 

(a) Inventorship shall
be determined according to United States patent law. Inventions made during the performance of the Research Program that constitute
a reduction to practice of Sponsor’s prior conception or that rely on, or incorporate Sponsor’s Confidential Information
as defined in Section 5 will be referred to as “Sponsor IP.” Inventions other than Sponsor IP made solely by inventors
or authors who are Institute employees, will be referred to as “Institute IP.” Inventions other than Sponsor IP made
during the performance of the Research Program jointly by inventors who are Institute employees and Sponsor’s employees will
be referred to as “Joint IP.”

 

(b) Institute will promptly
provide Sponsor with a copy of any invention disclosure submitted to it by the Principal Investigator or any Institute employee.

 

(c) Sponsor hereby grants
to Institute an irrevocable, royalty-free, worldwide exclusive license to use Sponsor IP, including Sponsor’s share of any
Joint IP, for its own

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 5

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

non-commercial, internal
research and educational purposes only. Institute will provide all documents and other support reasonably requested by Sponsor,
at Sponsor’s sole expense, to enable Sponsor to effectuate its rights in Sponsor IP or Joint IP as set forth herein. Sponsor
may request that Institute file a patent application covering Institute IP or Joint IP, provided Sponsor agrees to reimburse Institute
for all patent costs. Sponsor has the right to review all filings and office actions related to these patent applications for so
long as Sponsor is reimbursing Institute for all such patent costs.

 

(d) Institute acknowledges
and agrees that Sponsor IP, as defined in 6.(a), will be Controlled by Sponsor. The term “Control” as used herein,
means that Sponsor will be solely responsible for all decisions regarding patent or other protection, licensing and commercialization
and Institute will not, without Sponsor’s prior written consent, assign, license, transfer or otherwise encumber Sponsor
IP, subject to Institute’s right to use Sponsor IP as set forth in 6.(c).

 

(e) Institute hereby
grants to Sponsor an exclusive option to an exclusive license to any Sponsor IP, Institute IP or Institute’s right in Joint
IP. Sponsor must exercise the option in writing to Institute within three (3) months after the Institute discloses the invention
to Sponsor. The license for Institute IP and Institute’s rights in Joint IP shall require Sponsor to (1) use commercially
reasonable efforts to commercialize products utilizing the licensed technology; and (2) pay a reasonable royalty to Institute.
The license will contain other commercially standard terms and conditions. If, after good faith negotiations, a license has not
been negotiated, or if the Sponsor decides to forgo the option, Institute shall be free to offer commercial license rights to any
third party or to dispose of institute IP or Institute’s rights in Joint IP as it deems appropriate.

 

7. Indemnification

 

(a) Sponsor shall indemnify, defend and hold harmless the Institute, its board members, officers, agents and employees, including the Principal Investigator
(the “Institute Indemnitees”) from and against any and all liability, loss, damage, claims, costs, actions, and suits,
including costs, expenses, and attorneys’ fees, arising out of, resulting from, or directly or indirectly relating to, any
claims, suits, actions, demands or judgments arising out of Sponsor’s performance under this Agreement, to the extent such
liability, loss, damage or expense is not attributable to the negligent act or omission or reckless conduct or willful misconduct
of Sponsor Indemnitees.

 

(b) The Institute shall
indemnify, defend and hold ham1less Sponsor, its board members, officers, agents and employees (the “Sponsor Indemnitees”)
from and against any and all liability, loss, damage, claims, costs, actions and suits, including costs, expenses, and attorneys’
fees, arising out of, resulting from, or directly or indirectly relating to, any claims, suits, actions, demands or judgments arising
out of the Institute’s performance, respectively, under this Agreement, to the extent such liability, loss, damage or expense
is not attributable to the negligent act or omission or reckless conduct or willful misconduct of the Sponsor Indemnitees.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 6

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

8. Termination

 

This Agreement may be
terminated upon the occurrence of any of the following events:

 

(a) The Institute terminates
this Agreement immediately upon the bankruptcy, insolvency, liquidation, dissolution or cessation of operations of Sponsor; or
the filing of any voluntary petition for bankruptcy, dissolution, liquidation or winding-up of the affairs of Sponsor; or any assignment
by Sponsor for the benefit of creditors; or the filing of any involuntary petition for bankruptcy, dissolution, liquidation or
winding-up of the affairs of Sponsor which is not dismissed within ninety (90) days of the date on which it is filed or commenced.

 

(b) The Institute may
terminate this Agreement upon fifteen (15) business days prior written notice in the event Sponsor fails to make any payment required
of Sponsor hereunder in a timely manner; provided such breach is not cured within said fifteen (15) business day notice period.

 

(c) Except as otherwise
provided above in subparagraph (b), the Institute may terminate this Agreement upon sixty (60) days prior written notice in the
event of any material breach by Sponsor of any material term or condition hereof; provided such breach is not cured within said
sixty (60) day notice period.

 

(d) Sponsor may terminate
this Agreement upon sixty (60) days prior written notice with or without cause (“cause”, as used herein, means the
material breach by the Institute of any material term of this Agreement); provided such breach is not cured within said sixty (60)
day period and Sponsor pays the Institute all costs incurred or non-cancellable commitments made by Institute prior to the effective
date of termination. For purposes of clarity, non-cancellable commitments is limited to equipment, supplies, materials or vendor
services necessary for conducting the Research Program, and excludes personnel costs, such commitments to post-doctoral fellows
and other learners participating in the training component of the Research Program.

 

9. Effect of Termination

 

(a) Except as otherwise
provided herein, termination of this Agreement shall not be construed to release either party from any obligation hereunder which
has matured prior to the date of said termination. In the event Sponsor terminates this Agreement without cause or in the event
the Institute terminates this Agreement in accordance with any of subparagraphs (a), (b), or (c) of Paragraph 8 above, the Institute
shall be under no further obligation to grant to Sponsor any further options or licenses hereunder that have not arisen or been
exercised as of the date of termination. In the event of termination pursuant to subparagraph 8(a), any outstanding licenses or
options granted to Sponsor prior to the date of such termination shall concurrently terminate.

 

(b) Upon early termination
by Sponsor or the Institute, under Paragraph 8, the Institute will proceed in orderly fashion to terminate any outstanding commitments
and to phase down the Research Program. All reasonable costs to the Institute associated with early termination will be considered
reimbursable costs, including costs incurred prior to the notice of termination but which have not yet been reimbursed, and commitments
existing at the time the

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 7

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

notice of termination
is received. Any funds pre-paid, unexpended and uncommitted funds as described in 8(d), above, will returned to Sponsor within
forty-five (45) days following termination for any reason.

 

10. Communications and
Final Report.

 

(a) The Principal Investigator
agrees that Sponsor shall be advised of the progress of the Research Program by verbal reports as reasonably requested by Sponsor
and by written reports reviewing such progress prepared under the supervision of the Principal Investigator and submitted to Sponsor
following the written request of Sponsor, but no more frequently than semi-annually during the Performance Period.

 

(b) Upon expiration
of this Agreement, the Principal Investigator shall submit to Sponsor a final rep01t describing the progress made and the results
obtained in the Research Program (“Final Report”). The Final Report will be submitted to Sponsor within sixty (60)
days after the effective date of such expiration.

 

(c) All work under the
Agreement shall be deemed completed upon submission of the Final Report by Institute to Sponsor under this Paragraph 10.

 

(d) All communications,
reports and notices shall be delivered by hand, by confirmed email transmission or sent by first class mail postage prepaid and
addressed as follows (or at such other address as the party may have previously specified by like notice):

 

If to Sponsor:

 

Clementia Pharmaceuticals, Inc.

Attn: Michael Harvey, Ph.D.

4150 Sainte-Catherine St West,
Suite 550

Montreal, Quebec, H3Z 2Y5, Canada

 

Facsimile: 888-966-0135

Email: mharvey@clementiapharma.com

 

If to Institute:

 

Sanford Burnham Prebys Medical
Discove1y Institute

Office of Technology Management
and Commercialization

10901 North Torrey Pines Road

La Jolla, CA 92037

 

Email: legal@sbpdiscovery.org

 

(e) Subject to Paragraph
4 (Publications), all reports submitted to Sponsor under this Paragraph 10, whether verbal or in writing, shall be held in confidence
by the parties, in accordance with subparagraph 5(h) of this Agreement, except for that information which falls under the definition
of subparagraph 5(c) of this Agreement.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 8

    	

    

Sanford Burnham Prebys Medical Discovery
Institute – CONFIDENTIAL

 

11. Use of Names

 

Except as otherwise
required by law, each party agrees not to use or cite in any manner the name of the other, its employees, anything related to the
Research Program or the Principal Investigator in any commercial or non-commercial advertising, article, press release or in any
other forms of writing or publication medium without the prior written permission of the party or individual whose name or other
information is to be used.

 

12. Assignment

 

(a) Except as otherwise
provided herein, neither party may assign their rights hereunder to any third party without the prior written consent of the other
party. Any assignment in violation of this clause shall be null and void.

 

(b) In the event Sponsor
merges with another entity, is acquired by another entity, or sells all or substantially all of its assets relating to the subject
matter of this Agreement to another entity, Sponsor may assign its rights and obligations hereunder to, in the event of a merger
or acquisition, the surviving entity, and in the event of a sale, the acquiring entity, without the Institute’s consent so
long as: (i) Sponsor is not then in breach of this Agreement; (ii) the proposed assignee has available resources and sufficient
scientific, business and other expertise to satisfy Sponsor’s obligations hereunder; and (iii) Sponsor provides written notice
of the assignment to the Institute, at least thirty (30) days prior to the effective date of the proposed assignment.

 

13. General Provisions

 

(a) All rights and remedies
hereunder will be cumulative and not alternative, and this Agreement shall be construed and governed by the Jaws of the State of
California.

 

(b) This Agreement may
be amended only by written agreement signed by both parties.

 

(c) Sponsor and the
Institute agree to conduct the Research Program in accordance with all applicable Federal, State and local laws and regulations, as well as applicable regulations of the Institute.

 

(d) It is expressly
agreed by the parties hereto that the Institute and Sponsor are independent contractors and nothing in this Agreement is intended
to create an employer relationship, joint venture, or partnership between the parties. Neither party has the authority to bind
the other.

 

(e) This Agreement and
its appendices and/or attachments constitute the entire agreement between the parties with respect to the subject matter hereof
and supersedes all proposal, negotiations and other communications between the parties, whether written or oral, with respect to
the subject matter hereof.

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

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Sanford Burnham Prebys Medical Discovery
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(f) If any provisions
of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions of this Agreement shall not be impaired thereby.

 

(g) MATERIALS, RESEARCH,
DATA AND RESULTS PROVIDED BY INSTITUTE UNDER THIS AGREEMENT ARE PROVIDED “AS IS”. THE INSTITUTE MAKES NO WARRANTY,
EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY OF MERCHANTABILITY OR ANY IMPLIED WARRANTY OF FITNESS FOR
A PARTICULAR PURPOSE WITH RESPECT TO ANY PATENT, TRADEMARK, SOFTWARE, TRADE SECRET, TANGIBLE RESEARCH PROPERTY, INFORMATION OR
DATA’ LICENSED OR OTHERWISE PROVIDED TO SPONSOR HEREUNDER AND HEREBY DISCLAIMS THE SAME. THE INSTITUTE SHALL NOT BE LIABLE
FOR ANY INDIRECT, CONSEQUENTIAL OR OTHER DAMAGES SUFFERED BY ANY LICENSEE OR OTHERS RESULTING FROM USE OF THE RESEARCH OR ANY SUCH
INVENTION OR PRODUCT, EXCEPT TO THE EXTENT RESULTING FROM INSTITUTE’S NEGLIGENCE OR WILLFUL MISCONDUCT. TN NO EVENT SHALL
INSTITUTE’S TOTAL LIABILITY UNDER THIS AGREEMENT EXCEED THE AMOUNT PAID BY SPONSOR FOR THE RESEARCH PROGRAM.

 

(h) This Agreement may
be executed in any number of counterparts, each of which shall be deemed an original as against the party whose signature appears
thereon, but all of which taken together shall constitute but one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

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Sanford Burnham Prebys Medical Discovery
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IN WITNESS WHEREOF,
the parties have executed this Agreement as of the date first written above.

 

	
        SANFORD BURNHAM PREBYS MEDICAL DISCOVERY INSTITUTE

	
        CLEMENTIA PHARMACEUTICALS, INC.

	 	 

	By:	/s/ Kristiina Vuori	 	By:	/s/ Clarissa Desjardins
	Name: 	Kristiina Vuori, M.D., Ph.D.	 	Name: 	Clarissa Desjardins, Ph.D.
	Title: 	President	 	Title: 	President & CEO
	Date: 	6/22/2016	 	Date: 	June 23, 2016

 

PRINCIPAL INVESTIGATOR’s ACKNOWLEDGMENT:

 

I have read, understand, and agree to abide by the provisions
of this Agreement.

 

	By:	/s/ Yu Yamaguchi	 
	Name: 	Yu Yamaguchi, M.D., Ph.D.	 
	 	 	 
	Date: 	6/22/2016	 

 

APPENDIX
A

RESEARCH PROGRAM

 

Background

Sponsor is interested in pursuing ng a
preclinical study on multiple hereditary exostoses (MHE), a rare genetic bone disease characterized by the fom1ation of multiple
benign bone rumors (osteochondroma) and bone deformity. Sponsor is developing palovarotene as a potential therapy for Fibrodysplasia
Ossificans Progrcssiva (FOP) and has been interested in testing the potential therapeutic effect of palovarotene in another rare
bone disease, MHE. Dr. Yamaguchi has expertise and an appropriate mouse model for MHE testing.

 

Objective

Principal Investigator will use his expertise
and MHE mouse model to test Sponsor’s drug, palovarotene, to generate preliminary data on the potential therapeutic effect
of palovarotene in MHE.

 

Aims

	1)	Breeding of test animals: The first phase of the project is breeding to produce sufficient numbers of test animals (Fsp
1-Cre:Extlflox/flox). Two groups of mutant mice will be administered with two different doses of Palovarotene, one group of mutant
mice will be administered with vehicle only, and one group of phenotypically normal littermates will 

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

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Sanford Burnham Prebys Medical Discovery
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be untreated. The number
of mice per group will be 10, which is sufficient to have enough statistical power. To produce these numbers of test animals,
multiple rounds of breeding are
necessary, which encompasses more than 2,000 cage-days and 50 weeks. Genotyping of animals will be performed by PCR.

 

	2)	Administration of Palvarotene for experimentation. Once a sufficient number of test animals have been produced in Aim 1, above, drug administration experiments will be performed on these mice. Palovarotene will be administered by oral gavage daily
for 6 weeks, starting P 15.

 

	3)	Evaluation of osteochnodroma formation. At the end of drug treatment in Aim 2, above, all of the mice will be sacrificed
to prepare alcian blue/alizarin red-stained whole-mount skeletal preparations. In these skeletal preparations, the formation of
osteochondromas will be assessed in long bones in limbs, rib bones, and vertebrae.

 

Training Component

The studies described above will include
a training component wherein postdoctoral trainees will perform some of the experiments. This will provide postdoctoral trainees
in-depth opportunities to learn about the underlying science and technology, and the design and interpretation of research results.
The Principal Investigator will provide mentoring for all aspects of the postdoctoral trainees’ work under the Research Program, which could involve, among other things, providing training in research design and methods, data interpretation, verbal and written
communication and career advice.

 

Estimated Project Duration: within
12 to 18 months

Total Estimated Budget: [*****] USD

 

Confidential Information omitted and filed
separately with the Securities and Exchange Commission.

Five asterisks denote omissions.

 

    	Page 12

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