Document:

EX-10.35

 Exhibit 10.35 

FOURTH AMENDMENT TO LEASE 

THIS FOURTH AMENDMENT TO LEASE (this “Amendment”) is entered into as of this 31st day of May, 2019, by and between BMR-134 COOLIDGE AVENUE LLC,    a Delaware limited liability company
(“Landlord”), and TARVEDA THERAPEUTICS, INC. (formerly known as Blend Therapeutics, Inc.), a Delaware corporation (“Tenant”). 

RECITALS 

A.        WHEREAS, Landlord and Tenant are parties to that certain Lease dated as of
December 12, 2011, as amended by that certain First Amendment to Lease dated as of February 23, 2012, that certain Second Amendment to Lease dated as of January 8, 2013, and that certain Third Amendment to Lease dated as of April 19, 2016
(collectively, and as the same may have been further amended, amended and restated, supplemented or modified from time to time, the “Existing Lease”), whereby Tenant leases certain premises (the “Premises”) from
Landlord in the building at 134 Coolidge Avenue in Watertown, Massachusetts (the “Building”); 
 B.
      WHEREAS, Landlord and Tenant desire to extend the Term of the Lease; 

C.        WHEREAS, Landlord desires to make available to Tenant a tenant improvement
allowance and Tenant desires to perform certain improvements to the Premises; and 

D.        WHEREAS, Landlord and Tenant desire to modify and amend the Existing Lease
only in the respects and on the conditions hereinafter stated. 
 AGREEMENT 

NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows: 

1.        Definitions. For purposes of this Amendment, capitalized terms
shall have the meanings ascribed to them in the Existing Lease unless otherwise defined herein. The Existing Lease, as amended by this Amendment, is referred to collectively herein as the “Lease.” From and after the date hereof, the term
“Lease,” as used in the Existing Lease, shall mean the Existing Lease, as amended by this Amendment. 

2.        Extension Term. The Term shall be extended by a period of thirty-six (36) months. Accordingly, the Term Expiration Date is hereby changed to January 31, 2023. The period from February 1, 2020 (the “Extension Term Commencement Date”) to
January 31, 2023 is referred to herein as the “Extension Term”. 

3.        Condition of Premises. Tenant acknowledges that (a) it is in
possession of and is fully familiar with the condition of the Premises and, notwithstanding anything contained in the Lease to the contrary, agrees to take the same in its condition “as is” as of the first day of the Extension Term, and
(b) Landlord shall have no obligation to alter, repair or otherwise prepare 
  

			
		  	BioMed Realty form dated 9/28/17

 the Premises for Tenant’s continued occupancy for the Initial Extension Term or to
pay for any improvements to the Premises, except for the Extension Term TI Allowance, as described below. 

4.        Extension Term Improvements. Commencing on the Extension Term
Commencement Date, Landlord shall make available to Tenant a tenant improvement allowance not to exceed One Hundred Sixty-Four Thousand Five Hundred Ninety and 00/100 ($164,590.00) (based upon Ten and 00/100 Dollars ($10.00) per square foot of
rentable area in the Premises) (the “Extension Term TI Allowance”) to cause appropriate improvements to be constructed in the Premises (the “Extension Term Improvements”). Tenant shall cause the Extension Term
Improvements to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit A (the “Work Letter”) at a cost to Landlord not to exceed the Extension Term TI Allowance. 

(a)        The Extension Term TI Allowance may be applied to the costs of
(a) construction, (b) project review by Landlord (which fee shall not exceed the lesser of (i) Landlord’s out-of-pocket third party expenses for review of
Tenant’s plans and (ii) three percent (3%) of the cost of the Extension Term Improvements, including the Extension Term TI Allowance), (c) to the extent applicable, commissioning of mechanical, electrical and plumbing systems by a
licensed, qualified commissioning agent hired by Tenant (it being understood that Landlord, at Landlord’s sole cost and expense, shall be responsible for any review of such party’s commissioning report by a licensed, qualified
commissioning agent hired by Landlord pursuant to Paragraph 3 of the Work Letter), (d) space planning, architect, engineering and other related services performed by third parties unaffiliated with Tenant, (e) building permits and other taxes,
fees, charges and levies by applicable governmental authorities for permits or for inspections of the Extension Term Improvements, (f) costs and expenses for labor, material, building system equipment and fixtures, and (g) the purchase of
furniture, personal property or other non-building system equipment and other soft costs not covered in the foregoing clauses (a} - (f) (collectively, “Soft Costs”); provided, however, in no
event shall more than twenty percent (20%) of the Extension Term TI Allowance be applied to Soft Costs. In no event shall the Extension Term TI Allowance be used for (v) the cost of work that is not approved in writing by Landlord (which
approval shall not be unreasonably withheld, delayed, or conditioned except as set forth in the Work Letter), (w} payments to Tenant or any affiliates of Tenant, (x) Soft Costs, except to the extent provided above, (y) costs resulting from
any default by Tenant of its obligations under this Lease or (z) costs that are recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors). · 

(b)        Commencing on the Extension Term Commencement Date, Tenant shall have
until July 31, 2021 (the “Extension Term TI Deadline”), to submit a Fund Request (as defined in Section 6.3 of the Work Letter) for the unused portion of the Extension Term TI Allowance, after which date
Landlord’s obligation to fund such costs shall expire. 
 (c)        In no
event shall any unused Extension Term TI Allowance entitle Tenant to a credit against Rent payable under this Lease. Tenant shall deliver to Landlord (a) if required by the scope of worked included as part of the Extension Term Improvements, a
certificate of occupancy for the Premises suitable for the Permitted Use and (b) a Certificate of Substantial Completion in the form of the American Institute of Architects document  G704,

 
executed by the project architect and the general contractor. The term “Substantially Complete” or “Substantial Completion” means that the Extension Term
Improvements are substantially complete in accordance with the Approved Plans (as defined in the Work Letter), except for minor punch list items. 

(d)        Prior to performing the Extension Term Improvements in the Premises,
Tenant shall furnish to Landlord evidence satisfactory to Landlord that insurance coverages required of Tenant under the provisions of Article 23 of the Existing Lease are in effect, and Tenant’s construction of the Extension Term
Improvements shall be subject to all the terms and conditions of the Lease. 

(e)        Tenant’s selection of the architect, engineer, general contractor
and major subcontractors shall be subject to Landlord’s reasonable approval, and Landlord and Tenant shall each participate in the review of the competitive bid process. Landlord may refuse to use any architects, consultants, contractors,
subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. 

5.        Base Rent. Notwithstanding anything to the contrary in the Lease,
from and after the Extension Term Commencement Date, Tenant shall pay to Landlord as Base Rent for the Premises the applicable amounts set forth in the chart below: 
  

									
	Dates	 	    Rentable Area    	 	
  Base Rent per    
  Square Foot of    

  Rentable Area    
  
	 	
Base Monthly    

Rent
	 	
  Annual Base  

Rent

	 February 1, 2020-

January 31, 2021
  
	 	16,459	 	$58.00	 	$79,551.83	 	$954,622.00
	 February 1, 2021-

January 31, 2022
  
	 	16,459	 	$59.60	 	$81,746.37	 	$980,956.40
	 February 1, 2022-

January 31, 2023
  
	 	16,459	 	$61.24	 	$83,995.76	 	$1,007,949.16

 During the Extension Term Tenant shall continue to pay Additional Rent (including without limitation
Tenant’s Share of Operating Expenses and the Property Management Fee) in accordance with the terms of the Lease. 

6.        Option to Extend Term. Article 41 of the Existing Lease is hereby deleted
in its entirety, and the provisions set forth in this Article 6 shall apply from and after the date hereof. Tenant shall have the option (“Option”) to extend the Term by one (1) period of three (3) years as to the entire
Premises (and no less than the entire Premises) upon the following terms and conditions. For clarity, if the Option is exercised hereunder, the Term would be extended to January 31, 2026. Any extension of the Term pursuant to the Option shall
be on all the same terms and conditions as this Lease, except as follows: 

  
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 6.1.    Base Rent at the commencement of the Option
term shall equal the then-current fair market value for comparable office and laboratory space in the Watertown and West Cambridge submarket of comparable age, quality, level of finish and proximity to amenities and public transit, and containing
the systems and improvements present in the Premises as of the date that Tenant gives Landlord written notice of Tenant’s election to exercise the Option (“FMV”), and shall be further increased on each annual anniversary of the
Option term commencement date by a fair market escalation determined as part of FMV. Tenant may, no more than fifteen (15) months prior to the date the Term is then scheduled to expire, request Landlord’s estimate of the FMV for the Option
term. Landlord shall, within fifteen (15) days after receipt of such request, give Tenant a written proposal of such FMV. If Tenant gives written notice to exercise the Option, such notice shall specify whether Tenant accepts Landlord’s
proposed estimate of FMV. If Tenant does not accept the FMV, then the parties shall endeavor to agree upon the FMV, taking into account all relevant factors, including·(a) the size of the Premises, (b) the length of the Option term,
(c) rent in comparable buildings in the relevant submarket, including concessions offered to new tenants, such as free rent, tenant improvement allowances and moving allowances, (d) Tenant’s creditworthiness and (e) the quality
and location of the Building and the Project. In the event that the parties are unable to agree upon the FMV within thirty (30) days after Tenant notifies Landlord that Tenant is exercising the Option, then either party may request that the
same be determined as follows: a senior officer of a nationally recognized leasing brokerage firm with local knowledge of the Watertown and West Cambridge laboratory/research and development leasing submarket (the “Baseball
Arbitrator”) shall be selected and paid for jointly by Landlord and Tenant. If Landlord and Tenant are unable to agree upon the Baseball Arbitrator, then the same shall be designated by the local chapter of the Judicial Arbitration and
Mediation Services or any successor organization thereto (the “JAMS”). The Baseball Arbitrator selected by the parties or designated by JAMS shall (y) have at least ten (10) years’ experience in the leasing of
laboratory/research and development space in the Watertown and West Cambridge submarket and (z) not have been employed or retained by either Landlord or Tenant or any affiliate of either for a period of at least ten (10) years prior to
appointment pursuant hereto. Each of Landlord and Tenant shall submit to the Baseball Arbitrator and to the other party its determination of the FMV. The Baseball Arbitrator shall grant to Landlord and Tenant a hearing and the right to submit
evidence. The Baseball Arbitrator shall determine which of the two (2) FMV determinations more closely represents the actual FMV. The arbitrator may not select any other FMV for the Premises other than one submitted by Landlord or Tenant. The
FMV selected by the Baseball Arbitrator shall be binding upon Landlord and Tenant and shall serve as the basis for determination of Base Rent payable for the Option term. If, as of the commencement date of the Option term, the amount of Base Rent
payable during the Option term shall not have been determined, then, pending such determination, Tenant shall pay Base Rent equal to the Base Rent payable with respect to the last year of the then-current Tenn. After the final determination of Base
Rent payable for the Option term, the parties shall promptly execute a written amendment to this Lease specifying the amount of Base Rent to be paid during the Option term. Any failure of the parties to execute such amendment shall not affect the
validity of the FMV determined pursuant to this Section. 
 6.2        The Option
is not assignable separate and apart from this Lease. 

  
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 6.3        The Option is
conditional upon Tenant giving Landlord written notice of its election to exercise the Option at least twelve (12) months prior to the end of the expiration of the then-current Term. Time shall be of the essence as to Tenant’s exercise of
the Option. Tenant assumes full responsibility for maintaining a record of the deadlines to exercise the Option. Tenant acknowledges that it would be inequitable to require Landlord to accept any exercise of the Option after the date provided for in
this Section. 
 6.4        Notwithstanding anything contained in this Article to
the contrary, Tenant shall not have the right to exercise the Option: 

  (a)      During the time commencing from the date Landlord delivers to Tenant a
written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default to Landlord’s reasonable satisfaction; or 

  (b)      At any time after any Default as described in Article 31 of the
Existing Lease (provided, however, that, for purposes of this Section 6.4(b), Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is
susceptible to being cured; or 
   (c)      In the event that Tenant has
defaulted in the performance of its obligations under this Lease two (2) or more times and a service or late charge has become payable under Section 31.1 of the Existing Lease for each of such defaults during the twelve (12)-month
period immediately prior to the date that Tenant intends to exercise the Option, whether or not Tenant has cured such defaults. 

6.5        The period of time within which Tenant may exercise the Option shall not
be extended or enlarged by reason of Tenant’s inability to exercise such Option because of the provisions of Section 6.4 above. 

6.6        All of Tenant’s rights under the provisions of the Option shall
terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Option if, after such exercise, but prior to the commencement date of the new term, (a) Tenant fails to pay to Landlord a monetary obligation
of Tenant for a period of twenty (20) days after written notice from Landlord to Tenant, (b) Tenant fails to commence to cure a default (other than a monetary default) within thirty (30) days after the date Landlord gives notice to
Tenant of such default or (c) Tenant has defaulted under this Lease two (2) or more times and a service or late charge under Section 31.1 of the Existing Lease has become payable for any such default, whether or not
Tenant has cured such defaults. 
 7.        Broker. Tenant represents and
warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment, other than CBRE (“Broker”), and agrees to reimburse, indemnify, save, defend (at Landlord’s option and with
counsel reasonably acceptable to Landlord, at Tenant’s sole cost and expense) and hold harmless the Landlord Indemnitees for, from and against any and all cost or liability for compensation claimed by any such broker or agent, other than
Broker, employed or engaged by it or claiming to have been employed or engaged by it. Landlord represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment, other than

  
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Broker, and agrees to reimburse, indemnify, save, defend (at Tenant’s option and with counsel reasonably acceptable to Tenant, at Landlord’s sole cost and expense) and hold harmless
Tenant for, from and against any and all cost or liability for compensation claimed by any such broker or agent employed or engaged by it or claiming to have been employed or engaged by it. Broker is entitled to a leasing commission in connection
with the making of this Amendment, and Landlord shall pay such commission to Broker pursuant to a separate agreement between Landlord and Broker. 

8.        No Default. Tenant represents, warrants and covenants that, to the
best of Tenant’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Existing Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a
default by either Landlord or Tenant thereunder. 
 9.        Notices.
Tenant confirms that, notwithstanding anything in the Lease to the contrary, notices delivered to Tenant pursuant to the Lease should be sent to: 

Tarveda Therapeutics, Inc. 

134 Coolidge Avenue 

Watertown, Massachusetts 02472; 

Attn: VP Product Development 

with a copy to: 

Cooley LLP 

55 Hudson Yards 

New York, New York 10001 

Attn: Daniel A. Goldberger, Esq. 

10.      Effect of Amendment. Except as modified by this Amendment, the Existing Lease
and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. In the event of any conflict between the terms contained in this Amendment and the Existing
Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties. 

11.      Successors and Assigns. Each of the covenants, conditions and agreements
contained in this Amendment shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs, legatees, devisees, executors, administrators and permitted successors and assigns and sublessees.
Nothing in this section shall in any way alter the provisions of the Lease restricting assignment or subletting. 

12.      Miscellaneous. This Amendment becomes effective only upon execution and
delivery hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof. All
exhibits hereto are incorporated herein by reference. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or
otherwise until execution by and delivery to both Landlord and Tenant. 

  
 6 

 13.        Authority. Each
of Landlord and Tenant guarantees, warrants and represents to the other that the individual or individuals signing this Amendment on its behalf have the power, authority and legal capacity to sign this Amendment on behalf of and to bind all
entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual or individuals have signed. 

14.        Counterparts: Facsimile and PDF Signatures. This Amendment may be
executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document. A facsimile or portable document format (PDF) signature on this Amendment shall be equivalent to, and have the same force and
effect as, an original signature. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as a
sealed Massachusetts instrument as of the date and year first above written. 
 LANDLORD: 

BMR-134 COOLIDGE AVENUE LLC, 

a Delaware limited liability company 
  

			
	By: 	 	/s/William Kane

			
	Name:	 	William Kane

			
	Title:	 	EVP, East Coast and UK Markets

 TENANT: 

TARVEDA THERAPEUTICS, INC., 
 a
Delaware corporation 
  

			
		
	By: 	 	/s/Brian Roberts

			
	Name:	 	Brian Roberts

			
	Title:	 	CFO

 EXHIBIT A 

WORK LETTER 

This Work Letter (this “Work Letter”) is made and entered into as of the 31 day of May, 2019, by and
between BMR-134 COOLIDGE AVENUE LLC, a Delaware limited liability company (“Landlord”), and TARVEDA THERAPEUTICS, INC. (formerly known as Blend Therapeutics, Inc.), a Delaware corporation
(“Tenant”), and is attached to and made a part of that certain Fourth Amendment to Lease dated as of the date hereof (the “Fourth Amendment”}, which amends that certain Lease dated as of December 12, 2011, as
amended by that certain First Amendment to Lease dated as of February 23, 2012, that certain Second Amendment to Lease dated as of January 8, 2013, and that certain Third Amendment to Lease dated as of April 19, 2016 (collectively,
and as the same may be amended, amended and restated,’ supplemented or otherwise modified from time to time, the “Lease”), by and between Landlord and Tenant for the Premises located at 134 Coolidge Avenue in Watertown,
Massachusetts. All capitalized terms used but not otherwise defined herein shall have the meanings given them in the Lease. 

1.      General Requirements. 

1.1.    Authorized Representatives. 

(a)        Landlord designates, as Landlord’s authorized representative
(“Landlord’s Authorized Representative”), (i) Edward McDonald as the person authorized to initial plans, drawings, approvals and to sign change orders pursuant to this Work Letter and (ii) an officer of Landlord as the
person authorized to sign any amendments to this Work Letter or the Lease. Tenant shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as applicable) by the appropriate Landlord’s
Authorized Representative. Landlord may change either Landlord’s Authorized Representative upon one (1) business day’s prior written notice to Tenant. 

(b)        Tenant designates Brian Roberts (“Tenant’s Authorized
Representative”) as the person authorized to initial and sign all plans, drawings, change orders and approvals pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any such item until such item has been
initialed or signed (as applicable) by Tenant’s Authorized Representative. Tenant may change Tenant’s Authorized Representative upon one (1) business day’s prior written notice to Landlord. 

1.2.    Schedule. The schedule for design and development of the Extension Term Improvements,
including the time periods for preparation and review of construction documents, approvals and performance, shall be in accordance with a schedule to be prepared by Tenant (the “Schedule”). Tenant shall prepare the Schedule so that
it is a reasonable schedule for the completion of the Extension Term Improvements. The Schedule shall clearly identify all activities requiring Landlord participation, including specific dates and time periods when Tenant’s contractor will
require access to areas of the Project outside of the Premises. As soon as the Schedule is completed, Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed.
Such Schedule shall be approved or disapproved by Landlord within ten (10) business days after delivery to 

 
Landlord. Landlord’s failure to respond within such ten (10) business day period shall be deemed approval by Landlord. If Landlord disapproves the Schedule, then Landlord shall notify
Tenant in writing of its objections to such Schedule, and the parties shall confer and negotiate in good faith to reach agreement on the Schedule. The Schedule shall be subject to adjustment as mutually agreed upon in writing by the parties, or as
provided in this Work Letter. 
 1.3.    Tenant’s Architects. Contractors and Consultants.
Toe architect, engineering consultants, design team, general contractor and subcontractors responsible for the construction of the Extension Term Improvements shall be selected by Tenant and approved by Landlord, which approval Landlord shall not
unreasonably withhold, condition or delay. Landlord may refuse to use any architects, consultants, contractors, subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. All Tenant contracts related to the
Extension Term Improvements shall provide that Tenant may assign such contracts and any warranties with respect to the Extension Term Improvements to Landlord at any time. 

2.        Extension Term Improvements. All Extension Term Improvements shall be performed by
Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Extension Term TI Allowance) and in accordance with the Approved Plans (as defined below), the Lease and this
Work Letter. To the extent that the total projected cost of the Extension Term Improvements (as reasonably projected by Landlord) exceeds the Extension Term TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the
costs of the Extension Term Improvements on a pari passu basis with Landlord as such costs become due, in the proportion of Excess TI Costs payable .by Tenant to the Extension Term TI Allowance payable by Landlord. If Tenant fails to pay, or is late
in paying, any sum due to Landlord under this Work Letter, then Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including the right to interest and the right to assess a late charge), and for
purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Extension Term Improvements shall be new or “like new;” the
Extension Term Improvements shall be performed in a first-class, workmanlike manner; and the quality of the Extension Term Improvements shall be of a nature and character not less than the Building Standard. Tenant shall take, and shall require its
contractors to take, commercially reasonable steps to protect the Premises during the performance of any Extension Term Improvements, including covering or temporarily removing any window coverings so as to guard against dust, debris or damage. All
Extension Term Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter
and Article 17 of the Lease, the terms of this Work Letter shall govern. 
 2.1.    Work
Plans. Tenant shall prepare and submit to Landlord or approval schematics covering the Extension Term Improvements prepared in conformity with the applicable provisions of this Work Letter (the “Draft Schematic Plans”). The
Draft Schematic Plans shall contain sufficient information and detail to accurately describe the proposed design to Landlord and such other information as Landlord may reasonably request. Landlord shall notify Tenant in writing within ten
(10) business days after receipt of the Draft Schematic Plans whether Landlord approves or objects to the Draft Schematic Plans and of the manner, if any, in 

 
which the Draft Schematic Plans are unacceptable. Landlord’s failure to respond within such ten (10) business day period shall be deemed approval by Landlord. If Landlord reasonably objects
to the Draft Schematic Plans, then Tenant shall revise the Draft Schematic Plans and cause Landlord’s objections to be remedied in the revised Draft Schematic Plans. Tenant shall then resubmit the revised Draft Schematic Plans to Landlord for
approval, such approval not to be unreasonably withheld, conditioned or delayed. Landlord’s approval of or objection to revised Draft Schematic Plans and Tenant’s correction of the same shall be in accordance with this Section until
Landlord has approved the Draft Schematic Plans in writing or been deemed to have approved them. The iteration of the Draft Schematic Plans that is approved or deemed approved by Landlord without objection shall be referred to herein as the
“Approved Schematic Plans.” 
 2.2.    Construction Plans. Tenant shall prepare
final plans and specifications for the Extension Term Improvements that (a) are consistent with and are logical evolutions of the Approved Schematic Plans and (b) incorporate any other Tenant-requested (and Landlord-approved) Changes (as
defined below). As soon as such final plans and specifications (“Construction Plans”) are completed, Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably withheld,
conditioned or delayed. All such Construction Plans shall be submitted by Tenant to Landlord in electronic .pdf, CADD and full-size hard copy formats, and shall be approved or disapproved by Landlord within ten (10) business days after delivery
to Landlord. Landlord’s failure to respond within such ten (10) business day period shall be deemed approval by Landlord. If the Construction Plans are disapproved by Landlord, then Landlord shall notify Tenant in writing of its objections
to such Construction Plans, and the parties shall confer and negotiate in good faith to reach agreement on the Construction Plans. Promptly after the Construction Plans are approved by Landlord and Tenant, two (2) copies of such Construction
Plans shall be initialed and dated by Landlord and Tenant, and Tenant shall promptly submit such Construction Plans to all appropriate Governmental Authorities for approval. The Construction Plans so approved, and all change orders specifically
permitted by this Work Letter, are referred to herein as the “Approved Plans.” 

2.3.    Changes to the Extension Term Improvements. Any changes to the Approved Plans (each, a
“Change”) shall be requested and instituted in accordance with the provisions of this Article 2 and shall be subject to the written approval of the non-requesting party in accordance
with this Work Letter. 
 (a)        Change Request. Either Landlord or
Tenant may request Changes after Landlord approves the Approved Plans by notifying the other party thereof in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request
shall detail the nature and extent of any requested Changes, including (a) the Change, (b) the party required to perform the Change and (c) any modification of the Approved Plans and the Schedule, as applicable, necessitated by the
Change. If the nature of a Change requires revisions to the Approved Plans, then the requesting party shall be solely responsible for the cost and expense of such revisions and any increases in the cost of the Extension Term Improvements as a result
of such Change. Change Requests shall be signed by the requesting party’s Authorized Representative. 

 (b)      Approval of Changes. All
Change Requests shall be subject to the other party’s prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed. The non-requesting party shall have five
(5) business days after receipt of a Change Request to notify the requesting party in writing of the non-requesting party’s decision either to approve or object to the Change Request. The non-requesting party’s failure to respond within such five (5) business day period shall be deemed approval by the non-requesting party. 

2.4.      Preparation of Estimates. Tenant shall, before proceeding with any Change,
using its best efforts, prepare as soon as is reasonably practicable (but in no event more than five (5) business days after delivering a Change Request to Landlord or receipt of a Change Request) an estimate of the increased costs or savings
that would result from such Change, as well as an estimate of such Change’s effects on the Schedule. Landlord shall have five (5) business days after receipt of such information from Tenant to (a) in the case of a Tenant-initiated
Change Request, approve or reject such Change Request in writing, or (b) in the case of a Landlord-initiated Change Request, notify Tenant in writing of Landlord’s decision either to proceed with or abandon the Landlord-initiated Change
Request. 
 2.5.      Quality Control Program; Coordination. Tenant shall provide
Landlord with information regarding the following (together, the “QCP”): (a) Tenant’s general contractor’s quality control program and (b) evidence of subsequent monitoring and action plans. The QCP shall be subject
to Landlord’s reasonable review and approval and shall specifically address the Extension Term Improvements. Tenant shall ensure that the QCP is regularly implemented on a scheduled basis and shall provide Landlord with reasonable prior notice
and access to attend all inspections and meetings between Tenant and its general contractor. At the conclusion of the Extension Term Improvements, Tenant shall deliver the quality control log to Landlord, which shall include all records of quality
control meetings and testing and of inspections held in the field, including inspections relating to concrete, steel roofing, piping pressure testing and system commissioning. 

3.        Completion of Extension Term Improvements. Tenant, at its sole cost and expense
(except for the Extension Term TI Allowance) shall perform and complete the Extension Term Improvements in all respects (a) in substantial conformance with the Approved Plans, (b) otherwise in compliance with provisions of the Lease and
this Work Letter and (c) in accordance with Applicable Laws, the requirements of Tenant’s insurance carriers, the requirements of Landlord’s insurance carriers (to the extent Landlord provides its insurance carriers’ requirements
to Tenant) and the board of fire underwriters having jurisdiction over the Premises. The Extension Term Improvements shall be deemed completed at such time as Tenant shall furnish to Landlord (t) evidence satisfactory to Landlord that
(i) all Extension Term Improvements have been completed and paid for in full (which shall be evidenced by the architect’s certificate of completion and the general contractor’s and each subcontractor’s and material
supplier’s final unconditional waivers and releases of liens, each in a form acceptable to Landlord and complying with Applicable Laws, and a Certificate of Substantial Completion in the form of the American Institute of Architects document
G704, executed by the project architect and the general contractor, together with a statutory notice of substantial completion from the general contractor), (ii) all Extension Term Improvements have been accepted by Landlord, (iii) any and all
liens related to the Extension Term Improvements have either been 

 
discharged of record (by payment, bond, order of a court of competent jurisdiction or otherwise) or waived by the party filing such lien and (iv) no security interests relating to the
Extension Term Improvements are outstanding, (u) all certifications and approvals with respect to the Extension Term Improvements that may be required from any Governmental Authority and any board of fire underwriters or similar body for the
use and occupancy of the Premises (including a certificate of occupancy for the Premises for the Permitted Use), (v) certificates of insurance required by the Lease to be purchased and maintained by Tenant, (w) an affidavit from Tenant’s
architect certifying that all work performed in, on or about the Premises is in accordance with the Approved Plans, (x) complete “as built” drawing print sets, project specifications and shop drawings and electronic CADD files on disc
(showing-the Extension Term Improvements as an overlay on the Building “as built” plans (provided that Landlord provides the Building “as-built” plans provided to Tenant) of all
contract documents for work performed by their architect and engineers in relation to the Extension Term Improvements, (y) a commissioning report prepared by a licensed, qualified commissioning agent hired by Tenant and reasonably approved by
Landlord for all new or affected mechanical, electrical and plumbing systems (which report Landlord may hire a licensed, qualified commissioning agent to peer review, at Landlord’s sole cost and expense, and whose reasonable recommendations
Tenant’s commissioning agent shall perform and incorporate into a revised report, provided that Landlord’s commissioning agent has provided such reasonable recommendations within ten (10) business days after Tenant’s
commissioning agent has issued such report) and (z) such other “close out” materials as Landlord reasonably requests consistent with Landlord’s own requirements for its contractors, such as copies of manufacturers’
warranties, operation and maintenance manuals and the like. 
 4.        Insurance. 

4.1.        Property Insurance. At all times during the period beginning with
commencement of construction of the Extension Term Improvements and ending with final completion of the Extension Term Improvements, Tenant shall maintain, or cause to be maintained (in addition to the insurance required of Tenant pursuant to the
Lease), property insurance insuring Landlord and the Landlord Parties, as their interests may appear. Such policy shall, on a completed values basis for the full insurable value at all times, insure against loss or damage by fire, vandalism and
malicious mischief and other such risks as are customarily covered by the so-called “broad form extended coverage endorsement” upon all Extension Term Improvements and the general contractor’s
and any·subcontractors’ machinery, tools and equipment, all while each forms a part of, or is contained in, the Extension Term Improvements or any temporary structures on the Premises, or is adjacent thereto; provided that, for
the avoidance of doubt, insurance coverage with respect to the general contractor’s and any subcontractors’ machinery, tools and equipment shall be carried on a primary basis by such general contractor or the applicable subcontractor(s).
Tenant agrees to pay any deductible, and Landlord is not responsible for any deductible, for a claim under such insurance. Such property insurance shall contain an express waiver of any right of subrogation by the insurer against Landlord and the
Landlord Parties, and shall name Landlord and its affiliates as loss payees as their interests may appear. 

4.2.        Workers’ Compensation Insurance. At all times during the
period of construction of the Extension Term Improvements, Tenant shall, or shall cause its contractors or 

 
subcontractors to, maintain statutory workers’ compensation insurance as required by Applicable Laws. 

5.        Liability. Tenant assumes sole responsibility and liability for any and all
injuries or the death of any persons, including Tenant’s contractors and subcontractors and their respective employees, agents and invitees, and for any and all damages to property caused by, resulting from or arising out of any act or omission
on the part of Tenant, Tenant’s contractors or subcontractors, or their respective employees, agents and invitees in the prosecution of the Extension Term Improvements. Tenant agrees to indemnify, save, defend (at Landlord’s option and
with counsel reasonably acceptable to Landlord} and hold the Landlord Indemnitees harmless from and against all Claims due to, because of or arising out of any and all such injuries, death or damage, whether real or alleged, and Tenant and
Tenant’s contractors and subcontractors shall assume and defend at their sole cost and expense all such Claims; provided, however, that nothing contained in this Work Letter shall be deemed to indemnify or otherwise hold Landlord
harmless from or against liability caused by Landlord’s negligence or willful misconduct. Any deficiency in design or construction of the Extension Term Improvements shall be solely the responsibility of Tenant, notwithstanding the fact that
Landlord may have approved of the same in writing. 
 6.        Extension Term TI
Allowance. 
 6.1.        Application of Extension Term TI
Allowance. Landlord shall contribute the Extension Term TI Allowance toward the costs and expenses incurred in connection with the performance of the Extension Term Improvements, in accordance with Article 4 of the Fourth Amendment to
Lease. If the entire Extension Term TI Allowance is not applied toward or reserved for the costs of the Extension Term Improvements, then Tenant shall not be entitled to a credit of such unused portion
of the Extension Term TI Allowance. If the entire Excess TI Costs advanced by Tenant to Landlord are not applied toward the
costs of the Extension Term Improvements, then Landlord shall promptly return such excess to Tenant following completion of the Extension Term Improvements. Tenant may apply the Extension Term TI Allowance for the payment of construction and other
costs in accordance with the terms and provisions of the Lease. 

6.2.        Approval of Budget for the Extension Term Improvements.
Notwithstanding anything to the contrary set forth elsewhere in this Work Letter or the Lease, Landlord shall not have any obligation to expend any portion of the Extension Term TI Allowance until Landlord and Tenant shall have approved in writing
the budget for the Extension Term Improvements (the “Approved Budget”). Prior to Landlord’s approval of the Approved Budget, Tenant shall pay all of the costs and expenses incurred in connection with the Extension Term
Improvements as they become due. Landlord shall not be obligated to reimburse Tenant for costs or expenses relating to the Extension Term Improvements that exceed the amount of the Extension Term TI Allowance. Landlord shall not unreasonably
withhold, condition or delay its approval of any budget for Extension Term Improvements that is proposed by Tenant. 

6.3.        Fund Requests. Upon submission by Tenant to Landlord of
(a) a statement (a “Fund Request”) setting forth the total amount of the Extension Term TI Allowance requested, 

 
(b) a summary of the Extension Term Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect, (c) invoices from
the general contractor, the architect, and any subcontractors, material suppliers and other parties requesting payment with respect to the amount of the Extension Term TI Allowance then being requested, and (d) except with respect to the final
Fund Request, conditional lien releases from the general contractor and each subcontractor and material supplier with respect to the Extension Term Improvements performed that correspond to the Fund Request each in a form acceptable to Landlord and
complying with Applicable Laws, then Landlord shall, within thirty (30) days following receipt by Landlord of a Fund Request and the accompanying materials required by this Section, pay to (as elected by Landlord) the applicable contractors,
subcontractors and material suppliers or Tenant (for reimbursement for payments made by Tenant to such contractors, .subcontractors or material suppliers either prior to Landlord’s approval of the Approved TI Budget or as a result of
Tenant’s decision to pay for the Extension Term Improvements itself and later seek reimbursement from Landlord in the form of one lump sum payment in accordance with the Lease and this Work Letter), the amount of Extension Improvement costs set
forth in such Fund Request or Landlord’s pari passu share thereof if Excess TI Costs exist based on the Approved Budget; provided, however, that Landlord shall not be obligated to make any payments under this Section until the budget for
the Extension Term Improvements is approved in accordance with Section 6.2, and any Fund Request under this Section shall be subject to the payment limits set forth in Section 6.2 above and Article 4 of
the Lease. Notwithstanding anything in this Section to the contrary, Tenant shall not submit a Fund Request more often than every thirty (30) days. Any additional Fund Requests submitted by Tenant shall be void and of no force or effect. 

6.4.        Accrual Information. In addition to the other requirements of
this Section 6, Tenant shall, no later than the second (2nd) business day of each month until the Extension Term
Improvements are complete, provide Landlord with an estimate of (a) the percentage of design and other soft cost work that has been completed, (b) design and other soft costs spent through the end of the previous month, both from
commencement of the Extension Term Improvements and solely for the previous month, (c) the percentage of construction and other hard cost work that has been completed, (d) construction and other hard costs spent through the end of the
previous month, both from commencement of the Extension Term Improvements and solely for the previous month, and (e) the date of Substantial Completion of the Extension Term Improvements. 

7.        Miscellaneous. 

7.1.        Incorporation of Lease Provisions. Sections 40.3 through
40.10 and 40.12 through 40.19 of the Lease are incorporated into this Work Letter by reference, and shall apply to this Work Letter in the same way that they apply to the Lease. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Work Letter as
a sealed Massachusetts instrument to be effective on the date first above written. 
  

			
	 LANDLORD:

	
	 BMR-134 COOLIDGE AVENUE LLC,

a Delaware limited liability company

			
		
	 By: 
	 	 /s/William Kane

			
	 Name:
	 	 William Kane

			
	 Title:
	 	 EVP, East Coast and UK
Markets

			
		
	 TENANT:
	 	
	
	 TARVEDA THERAPEUTICS, INC.,

a Delaware corporation

			
		
	 By: 
	 	 /s/Brian Roberts

			
	 Name:
	 	 Brian Roberts

			
	 Title:
	 	 CFOEX-10.36

 Exhibit 10.36 

BLEND BIOSCIENCES, INC. 

2011 Stock Incentive Plan 

1.        Purpose. 

The purpose of this plan (the “Plan”) is to secure for Blend Biosciences, Inc., a Delaware corporation (the “Company”) and
its shareholders the benefits arising from capital stock ownership by employees, officers and directors of, and consultants or advisors to, the Company and its parent and subsidiary corporations who are expected to contribute to the Company’s
future growth and success. Under the Plan recipients may be awarded both (i) Options (as defined in Section 2.1) to purchase the Company’s common stock, par value $0.0001 (“Common Stock”) and (ii) shares of Common Stock
(“Restricted Stock Awards”). Except where the context otherwise requires, the term “Company” shall include any parent and all present and future subsidiaries of the Company as defined in Sections 424(e) and 424(f) of the Internal
Revenue Code of 1986, as amended or replaced from time to time (the “Code”). Those provisions of the Plan which make express reference to Section 422 of the Code shall apply only to Incentive Stock Options (as that term is defined
below). Appendix A to this Plan shall apply only to participants in the Plan who are residents of the State of California. 

2.        Types of Awards and Administration. 

2.1        Options. Options granted pursuant to the Plan (“Options”) shall be
authorized by action of the Board of Directors of the Company (the “Board” or “Board of Directors”) and may be either incentive stock options (“Incentive Stock Options”) meeting the requirements of Section 422 of
the Code or non-statutory Options which are not intended to meet the requirements of Section 422. All Options when granted are intended to be non-statutory Options,
unless the applicable Option Agreement (as defined in Section 5.1) explicitly states that the Option is intended to be an Incentive Stock Option. The vesting of Options may be conditioned upon the completion of a specified period of employment
with the Company and/or such other conditions or events as the Board may determine. The Board may also provide that Options are immediately exercisable subject to certain repurchase rights in the Company dependent upon the continued employment of
the optionee and/or such other conditions or events as the Board may determine. 
 2.1.1    Incentive Stock Options.
Incentive Stock Options may only be granted to employees of the Company. For so long as the Code shall so provide, Options granted to any employee under the Plan (and any other incentive stock option plans of the Company) which are intended to
constitute Incentive Stock Options shall not constitute Incentive Stock Options to the extent that such Options, in the aggregate, become exercisable for the first time in any one calendar year for shares of Common Stock with an aggregate fair
market value (determined as of the respective date or dates of grant) of more than $100,000. If an Option is intended to be an Incentive Stock Option, and if for any reason such Option (or any portion thereof) shall not qualify as an Incentive Stock
Option, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a non-statutory Option appropriately granted under the Plan provided that such Option (or portion
thereof) otherwise meets the Plan’s requirements relating to non-statutory Options. 

 2.2        Restricted Stock Awards. The
Board in its discretion may grant Restricted Stock Awards, entitling the recipient to acquire, for a purchase price determined by the Board, shares of Common Stock subject to such restrictions and conditions as the Board may determine at the time of
grant (“Restricted Stock”), including continued employment and/or achievement of pre-established performance goals and objectives. 

2.3        Administration. The Plan shall be administered by the Board, whose construction and
interpretation of the terms and provisions of the Plan shall be final and conclusive. The Board may in its sole discretion authorize issuance of Restricted Stock, the grant of Options and the issuance of shares upon exercise of such Options as
provided in the Plan. The Board shall have authority, subject to the express provisions of the Plan, to construe Restricted Stock Agreements, Option Agreements and the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan,
to determine the terms and provisions of Restricted Stock Agreements and Option Agreements, and to make all other determinations in the judgment of the Board necessary or desirable for the administration of the Plan. The Board may correct any defect
or supply any omission or reconcile any inconsistency in the Plan or in any Restricted Stock Agreement or Option Agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge
of such expediency. No director or person acting pursuant to authority delegated by the Board shall be liable for any action or determination under the Plan made in good faith. The Board may, to the full extent permitted by or consistent with
applicable laws or regulations, delegate any or all of its powers under the Plan to a committee (the “Committee”) appointed by the Board, and if the Committee is so appointed, to the extent of such delegation, all references to the Board
in the Plan shall mean and relate to such Committee, other than references to the Board in this sentence and in Section 18 (as to amendment or termination of the Plan) and Section 22. 

3.        Eligibility. 

Options may be granted, and Restricted Stock may be issued, to persons who are, at the time of such grant or issuance, employees, officers or
directors of, or consultants or advisors to, the Company; provided, that the class of persons to whom Incentive Stock Options may be granted shall be limited to employees of the Company. 

3.1        10% Shareholder. If any employee to whom an Incentive Stock Option is to be granted
is, at the time of the grant of such Option, the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company (after taking into account the attribution of stock ownership rules of
Section 424(d) of the Code) (a “Greater Than 10% Shareholder”), any Incentive Stock Option granted to such individual must: (i) have an exercise price per share of not less than 110% of the fair market value of one share of
Common Stock at the time of grant; and (ii) expire by its terms not more than five years from the date of grant. 

4.        Stock Subject to Plan. 

Subject to adjustment as provided in Section 14.2 below, the maximum number of shares of Common Stock which may be issued under the Plan
is 400,000 shares. If an Option shall expire or terminate for any reason without having been exercised in full, the unpurchased shares 

  
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Subject to such Option shall again be available for subsequent Option grants or Restricted Stock Awards under the Plan. If shares of Restricted Stock shall be forfeited to, or otherwise
repurchased by, the Company pursuant to a Restricted Stock Agreement, such repurchased Shares shall again be available for subsequent Option grants or Restricted Stock Awards under the Plan. If shares issued upon exercise of an Option are tendered
to the Company in payment of the exercise price of an Option, such tendered shares shall again be available for subsequent Option grants or Restricted Stock Awards under the Plan. 

5.        Forms of Restricted Stock Agreements and Option Agreements. 

5.1        Option Agreement. Each recipient of an Option shall execute an option agreement
(“Option Agreement”) in such form not inconsistent with the Plan as may be    approved by the Board of Directors.    Such Option Agreements may differ among recipients 

5.2        Restricted Stock Agreement. Each recipient of a grant of Restricted Stock shall
execute an agreement (“Restricted Stock Agreement”) in such form not inconsistent with the Plan as may be approved by the Board of Directors. Such Restricted Stock Agreements may differ among recipients. 

5.3        “Lock-Up” Agreement. Unless the
Board specifies otherwise, each Restricted Stock Agreement and Option Agreement shall provide that upon the request of the Company or the managing underwriter(s) of any offering of securities of the Company that is the subject of a registration
statement filed under the United States Securities Act of 1933, as amended from time to time (the “Act”), the holder of any Option or the purchaser of any Restricted Stock shall, in connection therewith, agree in writing (in such form as
the Company or such managing underwriter(s) shall request) to the general effect that for a period of time (not to exceed 180 days, plus such additional number of days (not to exceed 35) as may reasonably be requested to enable the underwriter(s) of
such offering to comply with Rule 2711(f) of the Financial Industry Regulatory Authority or any amendment or successor thereto) from the effective date of the registration statement under the Act for such offering, the holder or purchaser will not
sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any shares of the common stock of the Company owned or controlled by him or her. 

6.        Purchase Price. 

6.1        General. The purchase price per share of Restricted Stock and per share of stock
deliverable upon the exercise of an Option shall be determined by the Board, provided, however, that in the case of any Option, the exercise price shall not be less than 100% of the fair market value of such stock, as determined by the Board, at the
time of grant of such Option, or less than 110% of such fair market value in the case of any Incentive Stock Option granted to a Greater Than 10% Shareholder. 

6.2        Payment of Purchase Price. Option Agreements may provide for the payment of the
exercise price by delivery of cash or a check to the order of the Company in an amount equal to the exercise price of such Options, or, to the extent provided in the applicable Option Agreement, by one of the following methods: 

  
 - 3 - 

 (i)  with the consent of the Board, by delivery to the Company of
shares of Common Stock; such surrendered shares shall have a fair market value equal in amount to the exercise price of the Options being exercised, 

(ii)  with the consent of the Board, a personal recourse note issued by the optionee to the Company in a principal
amount equal to such aggregate exercise price and with such other terms, including interest rate and maturity, as the Company may determine in its discretion; provided, however, that the interest rate borne by such note shall not be less than the
lowest applicable federal rate, as defined in Section I274(d) of the Code, 
 (iii)  with the consent of the
Board, if the class of Common Stock is registered under the Securities Exchange Act of 1934 at such time, subject to rules as may be established by the Board, by delivery to the Company of a properly executed exercise notice along with irrevocable
instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company for the purchase price, 

(iv)  with the consent of the Board, by reducing the number of Option shares otherwise issuable to the optionee
upon exercise of the Option by a number of shares of Common Stock having a fair market value equal to such aggregate exercise price, 

(v)  with the consent of the Board, by any combination of such methods of payment. 

The fair market value of any shares of Common Stock or other non-cash consideration which may be
delivered upon exercise of an Option shall be determined by the Board of Directors. Restricted Stock Agreements may provide for the payment of any purchase price in any manner approved by the Board of Directors at the time of authorizing the
issuance thereof. 
 7.        Option Period. 

Notwithstanding any other provision of the Plan or any Option Agreement, each Option and all rights thereunder shall expire on the date
specified in the applicable Option Agreement, provided that such date shall not be later than ten years after the date on which the Option is granted (or five years in the case of an Incentive Stock Option granted to a Greater Than 10% Shareholder),
and in either case, shall be subject to earlier termination as provided in the Plan or Option Agreement. 

8.        Exercise of Options. 

8.1        General. Each Option shall be exercisable either in full or in installments at such
time or times and during such period as shall be set forth in the Option Agreement evidencing such Option, subject to the provisions of the Plan. To the extent not exercised, installments shall accumulate and be exercisable, in whole or in part, at
any time after becoming exercisable, but not later than the date the Option expires. 

  
 - 4 - 

 8.2        Notice of Exercise. An Option may
be exercised by the optionee by delivering to the Company on any business day a written notice specifying the number of shares of Common Stock the optionee then desires to purchase and specifying the address to which the certificates for such shares
are to be mailed (the “Notice”), accompanied by payment for such shares. In addition, the Company may require any individual to whom an Option is granted, as a condition of exercising such Option, to give written assurances (the
“Investment Letter”) in a substance and form satisfactory to the Company to the effect that such individual is acquiring the Common Stock subject to the Option for his or her own account for investment and not with a view to the resale or
distribution thereof, and to such other effects as the Company deems necessary or advisable in order to comply with any securities law(s). 

8.3        Delivery. As promptly as practicable after receipt of the Notice, the Investment
Letter (if required) and payment, the Company shall deliver or cause to be delivered to the optionee certificates for the number of shares with respect to which such Option has been so exercised, issued in the optionee’s name; provided,
however, that such delivery shall be deemed effected for all purposes when the Company or a stock transfer agent shall have deposited such certificates in the United States mail, addressed to the optionee, at the address specified in the Notice.

 9.        Transferability of Options.    No Incentive Stock
Option shall be assignable or transferable by the person to whom it is granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and during the life of an optionee, an Incentive Stock Option shall be
exercisable only by the optionee. The Board may, in its discretion, determine the extent to which a non-statutory Option shall be transferable. 

10.      Termination of Employment; Disability; Death. Except as may be otherwise expressly
provided in the terms and conditions of the Option Agreement, Options shall terminate on the earliest to occur of: 
  

	 	(i)	 the date of expiration thereof; 

 

	 	(ii)	 90 days after termination of the optionee’s employment with, or provision of services to, the Company by
the Company for Cause (as hereinafter defined); 

  

	 	(iii)	 90 days after the date of voluntary termination of the optionee’s employment with, or provision of
services to, the Company by the optionee (other than for death or permanent disability as defined below); or 

  

	 	(iv)	 90 days after the date of termination of the optionee’s employment with, or provision of services to, the
Company by the Company without Cause (other than for death or permanent disability as defined below). 

 Until the date on which the
Option so expires, the optionee may exercise that portion of his or her Option which is exercisable at the time of termination of the employment or service relationship. 

  
 - 5 - 

 An employment or service relationship between the Company and the optionee shall be deemed
to exist during any period during which the optionee is employed by or providing services to the Company. Whether an authorized leave of absence or an absence due to military    or government service shall constitute termination
of the employment relationship between the Company and the optionee shall be determined by the Board at the time     thereof. 

For purposes of this Section 10, the term “Cause” shall mean (a) any material breach by the optionee of any agreement to
which the optionee and the Company are both parties, (b) any act (other than retirement) or omission to act by the optionee which may have a material and adverse effect on the Company’s business or on the optionee’s ability to perform
services for the Company, including, without limitation, the commission of any crime (other than minor traffic violations), or (c) any material misconduct or material neglect of duties by the optionee in connection with the business or affairs
of the Company. An optionee’s employment shall be deemed to have been terminated for Cause if the Company determines within thirty (30) days of the termination of employment (whether such termination was voluntary or involuntary) that
termination for Cause was warranted. 
 In the event of the permanent and total disability or death of an optionee while in an employment or
other relationship with the Company, any Option held by such optionee shall terminate on the earlier of the date of expiration of the Option or one (1) year following the date of such disability or death. After disability or death, the optionee
(or in the case of death, his or her executor, administrator or any person or persons to whom this option may be transferred by will or by laws of descent and distribution) shall have the right, at any time prior to such termination of an Option, to
exercise the Option to the extent the optionee was entitled to exercise such Option as of the date of his or her disability or death. An optionee is permanently and totally disabled if he or she is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than 12 months; permanent and total disability shall be determined in accordance with
Section 22(e)(3) of the Code and the regulations issued thereunder. 

11.        Rights as a Shareholder. The holder of an Option shall have no rights as a
shareholder with respect to any shares covered by the Option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares) until the date of issue of a
stock certificate to him or her for such shares. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 

12.        Additional Provisions. The Board of Directors may, in its sole discretion,
include additional provisions in Restricted Stock Agreements and Option Agreements, including, without limitation, restrictions on transfer, rights of the Company to repurchase shares of    Restricted Stock or shares of Common
Stock acquired upon exercise of Options, commitments to pay cash bonuses, to make, arrange for or guaranty loans or to transfer other property to    optionees upon exercise of Options, or such other provisions as shall be
determined by the Board of Directors; provided that such additional provisions shall not be inconsistent with any other    term or condition of the Plan and such additional provisions shall not be such as to cause any
Incentive Stock Option to fail to qualify as an Incentive Stock Option within the meaning of    Section 422 of the Code. 

  
 - 6 - 

 13.        Acceleration, Extension, Etc. The
Board of Directors may, in its sole discretion, (i) accelerate the date or dates on which all or any particular Option or Options may be exercised or (ii) extend the period or periods of time during which all, or any particular, Option or
Options may be exercised. 
 14.        Adjustment Upon Changes in Capitalization 

14.1        No Effect of Options upon Certain Corporate Transactions. The existence of
outstanding Options shall not affect in any way the right or power of the Company to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger
or consolidation, or any issue of Common Stock, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

14.2        Adjustment Provisions. If, through or as a result of any merger, consolidation,
sale of all or substantially all of the assets of the Company, reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, (i) the outstanding shares of Common Stock are
increased, decreased or exchanged for a different number or kind of shares or other securities of the Company, or (ii) additional shares or new or different shares or other securities of the Company or other
non-cash assets are distributed with respect to such shares of Common Stock or other securities, an appropriate and proportionate adjustment shall be made in (x) the maximum number and kind of shares
reserved for issuance under the Plan, (y) the number and kind of shares or other securities subject to any then outstanding Options, and (z) the price for each share or other security subject to any then outstanding Options, so that upon
exercise of such Options, in lieu of the shares of Common Stock for which such Options were then exercisable, the relevant optionee shall be entitled to receive, for the same aggregate consideration, the same total number and kind of shares or other
securities, cash or property that the owner of an equal number of outstanding shares of Common Stock immediately prior to the event requiring adjustment would own as a result of the event. If any such event. Shall occur, appropriate adjustment shall
also be made in the application of the provisions of this Section 14 and Section 15 with respect to Options and the rights of optionees after the event so that the provisions of such Sections shall be applicable after the event and be as
nearly equivalent as practicable in operation after the event as they were before the event. 

14.3        No Adjustment in Certain Cases. Except as hereinbefore expressly provided, .the
issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property or for labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe
therefor, or upon conversion of shares or obligations of the Company convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock
then subject to outstanding options. 
 14.4        Board Authority to Make Adjustments. Any
adjustments under this Section 14 will be made by the Board of Directors, whose determination as to what adjustments, 

  
 - 7 - 

 
if any, will be made and the extent thereof will be final, binding and conclusive. No fractional shares will be issued under the Plan on account of any such adjustments 

15.        Effect of Certain Transactions 

15.1        General. Except as provided in any Option Agreement or Restricted Stock Agreement
to the contrary, if the Company is merged with or into or consolidated with another corporation under circumstances where the stockholders of the Company immediately prior to such merger or consolidation do not own after such merger or consolidation
shares representing at least fifty percent (50%) of the voting power of the Company or the surviving or resulting corporation, as the case may be, or if shares representing fifty percent (50%) or more of the voting power of the Company are
transferred to an Unrelated Third Party, as hereinafter defined, or if the Company is liquidated, or sells or otherwise disposes of all or substantially all its assets (each such transaction is referred to herein as a “Change in Control
Transaction”), the Board, or the board of directors of any corporation assuming the obligations of the Company, may, in its discretion, take any one or more of the following action , as to some or all outstanding Options or Restricted Stock
Awards (and need not take the same action as to each such Option or Restricted Stock Award): (i) provide that such Options shall be assumed, or equivalent Options shall be substituted, by the acquiring or succeeding corporation (or an affiliate
thereof), provided that any such Options substituted for Incentive Stock Options shall meet the requirements of Section 424(a) of the Code, (ii) upon written notice to the optionees, provide that all .unexercised Options will
terminate immediately prior to the consummation of the Change in Control Transaction unless exercised by the optionee to the extent otherwise then exercisable within a specified period following the date of such notice, (iii) upon written
notice to the grantees, provide that all unvested shares of Restricted Stock shall be repurchased at cost, (iv) make or provide for a cash payment to the optionees equal to the difference between (A) the fair market value of the per share
consideration (whether cash, securities or other property or any combination of the above) the holder of a share of Common Stock will receive upon consummation of the Change in Control Transaction (the “Per Share Transaction Price”) times
the number of shares of Common Stock subject to outstanding vested Options (to the extent then exercisable at prices not equal to or in excess of the Per Share Transaction Price) and (B) the aggregate exercise price of such outstanding vested
Options, in exchange for the termination of such Options, or (v) provide that all or any outstanding Options shall become exercisable and all or any outstanding Restricted Stock Awards shall vest in part or in full immediately prior to such
event. To the extent that any Options are exercisable at a price equal to or in excess of the Per Share Transaction Price, the Board may provide that such Options shall terminate immediately upon the consummation of the Change in Control Transaction
without any payment being made to the holders of such Options. “Unrelated Third Party” shall mean any person who is not, on the date of adoption of this Plan by the Board, a holder of stock of any class or preference or any stock
option of the Company. 
 15.2        Substitute Options. The Company may grant Options in
substitution for options held by employees, officers or directors of, or consultants or advisors to, another corporation who become employees, officers or directors of, or consultants or advisors to, the Company, as the result of a merger or
consolidation of the employing corporation with the Company or as a result of the acquisition by the Company of property or stock of the employing 

  
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corporation. The Company may direct that substitute Options be granted on such terms and conditions as the Board considers appropriate in the circumstances. 

15.3        Restricted Stock. In the event of a business combination or other transaction of
the type detailed in Section 15.1, any securities, cash or other property received in exchange for shares of Restricted Stock shall continue to be governed by the provisions of any Restricted Stock Agreement pursuant to which they were issued,
including any provision regarding vesting, and such securities, cash, or other property may be held in escrow on such terms as the Board of Directors may direct, to insure compliance with the terms of any such Restricted Stock Agreement. 

16.        No Special Employment Rights. Nothing contained in the Plan or in any Option
Agreement or Restricted Stock Agreement shall confer upon any optionee or holder of Restricted Stock any right with respect to the continuation of his or her employment by the Company or interfere in any way with the right of the Company at any time
to terminate such employment or to increase or decrease his or her compensation. 

17.        Other Employee Benefits. The amount of any compensation deemed to be received
by an employee as a result of the issuance of shares of Restricted Stock or the grant or exercise of an Option or the sale of shares received upon issuance of a Restricted Stock Award or exercise of an Option will not constitute compensation with
respect to which any other employee benefits of such employee are determined, including, without limitation, benefits under any bonus, pension, profit-sharing, life insurance or salary continuation plan, except as otherwise specifically determined
by the Board of Directors. 
 18.        Amendment of the Plan. 

18.1        The Board may at any time, and from time to time, modify or amend in any respect or
terminate the Plan. If shareholder approval is not obtained within twelve months after any amendment increasing the number of shares authorized under the Plan or changing the class of persons eligible to receive Options under the Plan, no Options
granted pursuant to such amendments shall be deemed to be Incentive Stock Options and no Incentive Stock Options shall be issued pursuant to such amendments thereafter. 

18.2        The termination or any modification or amendment of the Plan shall not, without the
consent of an optionee or the holder of Restricted Stock, adversely affect his or her rights under an Option or Restricted Stock Award previously granted to him or her. With the consent of the recipient of Restricted Stock or optionee affected, the
Board may amend outstanding Restricted Stock Agreements or Option Agreements in a manner not inconsistent with the Plan. 

19.      Withholding. The Company shall have the right to deduct from payments of any kind
otherwise due to the optionee or recipient of Restricted Stock, any federal, state or local taxes of any kind required by law to be withheld with respect to issuance of any shares of Restricted Stock or shares issued upon exercise of Options. Prior
to delivery of any Common Stock pursuant to the terms of this Plan, the Board has the right to require that the optionee or recipient of Restricted Stock remit to the Company an amount sufficient to satisfy any minimum

  
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tax withholding obligation. Subject to the prior approval of the Company, which may be withheld by the Company in its sole discretion, the obligor may elect to satisfy any minimum withholding
obligations, in whole or in part, (i) by causing the Company to withhold shares of Common Stock otherwise issuable, or (ii) by delivering to the Company a sufficient number of shares of Common Stock. The shares so withheld shall have a
fair market value equal to such minimum withholding obligation. The fair market value of the shares used to satisfy such minimum withholding obligation shall be determined by the Company as of the date that the amount of tax to be withheld is to be
determined. A person who has made an election pursuant to this Section 19 may only satisfy his or her withholding obligation with shares of Common Stock which are not subject to any repurchase, forfeiture, unfulfilled vesting or other
similar restrictions. 
 20.        Effective Date and Duration of the Plan. 

20.1        Effective Date. The Plan shall become effective when adopted by the Board of
Directors. If shareholder approval is not obtained within twelve months after the date of the Board’s adoption of the Plan, no Options previously granted under the Plan shall be deemed to be Incentive Stock Options and no Incentive Stock
Options shall be granted thereafter. Amendments to the Plan not requiring shareholder approval shall become effective when adopted by the Board. Amendments requiring shareholder approval shall become effective when adopted by the Board, but if
shareholder approval is not obtained within twelve months of the Board’s adoption of such amendment, any Incentive Stock Options granted pursuant to such amendment shall be deemed to be non-statutory
Options provided that such Options are authorized by the Plan. Subject to this limitation, Options may be granted under the Plan at any time after the effective date and before the date fixed for termination of the Plan. 

20.2        Termination. Unless sooner terminated by action of the Board of Directors, the
Plan shall terminate upon the close of business on the day next preceding the tenth anniversary of the date of its adoption by the Board of Directors. 

21.        Provision for Foreign Participants. The Board of Directors may, without
amending the Plan, modify the terms of Option Agreements or Restricted Stock Agreements to differ from those specified in the Plan with respect to participants who are foreign nationals or employed outside the United States to recognize differences
in laws, rules, regulations or customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters. 

  
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 22.      Requirements of Law. The Company shall
not be required to sell or issue any shares under any Option or Restricted Stock Award if the issuance of such shares shall constitute a violation by the optionee, the Restricted Stock Award recipient, or by the Company of any provision of any law
or regulation of any governmental authority. In addition, in connection with the Act, the Company shall not be required to issue any shares upon exercise of any Option unless the Company has received evidence satisfactory to it to the effect that
the holder of such Option will not transfer such shares except pursuant to a registration statement in effect under the Act or unless an opinion of counsel satisfactory to the Company has been received by the Company to the effect that such
registration is not required in connection with any such transfer. Any determination in this connection by the Board shall be final, binding and conclusive. In the event the shares issuable on exercise of an Option are not registered under the Act
or under the securities laws of each relevant state or other jurisdiction, the Company may imprint on the certificate(s) appropriate legends that counsel for the Company considers necessary or advisable to comply with the Act or any such state or
other securities law. The Company may register, but in no event shall be obligated to register, any securities covered by the Plan pursuant to the Act; and in the event any shares are so registered the Company may remove any legend on certificates
representing such shares. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Option, the grant of any Restricted Stock Award or the issuance of shares pursuant thereto to comply with any law or
regulation of any governmental authority. 
 23.      Conversion of Incentive Stock Options into Non-Qualified Options; Termination. The Board of Directors, with the consent of any optionee, may in its discretion take such actions as may be necessary to convert such optionee’s Incentive Stock Options
(or any installments or portions of installments thereof) that have not been exercised on the date of conversion into non-statutory Options at any time prior to the expiration of such Incentive Stock Options,
regardless of whether the optionee is an employee of the Company or a parent or subsidiary of the Company at the time of such conversion. At the time of such conversion, the Board of Directors (with the consent of the optionee) may impose such
conditions on the exercise of the resulting non-statutory Options as the Board of Directors in its discretion may determine, provided that such conditions shall not be inconsistent with this Plan. Nothing in
this Plan shall be deemed to give any optionee the right to have such optionee’s Incentive Stock Options converted into non-statutory Options, and no such conversion shall occur until and unless the Board
of Directors takes appropriate action. The Board of Directors, with the consent of the optionee, may also terminate any portion of any Incentive Stock Option that has not been exercised at the time of such termination. 

24.      Non-Exclusivity of this Plan; Non-Uniform Determinations. Neither the adoption of this Plan by the Board of Directors nor the approval of this Plan by the stockholders of the Company shall be construed as creating any limitations on the
power of the Board of Directors to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under this Plan, and such arrangements may be either applicable
generally or only in specific cases. 
 The determinations of the Board of Directors under this Plan need not be uniform and may be made by
it selectively among persons who receive or are eligible to receive Options or Restricted Stock Awards under this Plan (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Board of Directors
shall be entitled, among 

  
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other things, to make non-uniform and selective determinations, and to enter into non-uniform and selective Option
Agreements and Restricted Stock Agreements, as to (a) the persons to receive Options or Restricted Stock Awards under this Plan, (b) the terms and provisions of Options or Restricted Stock Awards, (c) the exercise by the Board of
Directors of its discretion in respect of the exercise of Options pursuant to the terms of this Plan, and (d) the treatment of leaves of absence pursuant to Section 10 hereof. 

25.      Governing Law. This Plan and each Option or Restricted Stock Award shall be governed by
the laws of Massachusetts, without regard to its principles of conflicts of law. 

  
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 APPENDIX A 

TO BLEND BIOSCIENCES, INC. 2011 STOCK INCENTIVE PLAN 

FOR CALIFORNIA RESIDENTS ONLY 

This Appendix to the Blend Biosciences, Inc. 2011 Stock Incentive Plan (the “Plan”) shall have application only to participants in
the Plan who are residents of the State of California. Capitalized terms contained herein shall have the same meanings given to them in the Plan, unless otherwise provided in this Appendix. Notwithstanding any provision contained in the Plan to
the contrary and to the extent required by applicable law, the following terms and conditions shall apply to all Options and Restricted Stock Awards (collectively “Awards”) granted to residents of the State of California, until such
time as the Common Stock becomes subject to registration under the Securities Act of 1933: 

1.        Awards shall be nontransferable other than by will or the laws of descent and distribution.
Notwithstanding the foregoing, and to the extent permitted by Section 422 of the Code, the Board, in its discretion, may permit distribution of an Award to an inter vivos or testamentary trust in which the Award is to be passed to beneficiaries
upon the death of the trustor (settlor), or by gift to “immediate family” as that term is defined in Rule 16a-l(e) of the United States Exchange Act of 1934. 

2.        Unless employment is terminated for Cause, the right to exercise an Option in the event of
termination of employment, to the extent that the optionee is otherwise entitled to exercise an Option on the date employment terminates, shall be 

(a)        at least six months from the date of termination of employment if termination was caused
by death or permanent disability; and 
 (b)        at least 30 days from the date of termination
if termination of employment was caused by other than death or permanent disability; 

(c)        but in no event later than the remaining term of the Option. 

3.        Any Award exercised before shareholder approval is obtained shall be rescinded if
shareholder approval is not obtained within 12 months of the Board’s adoption of the Plan.

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