Document:

Equipment Loan and Security Agreement

 Exhibit 4.6 
 EQUIPMENT LOAN AND SECURITY AGREEMENT 
  

	 Agreement No.             
	 	Dated as of October 10, 2001

  
 by and between 

 
 GATX VENTURES, INC. 
 as Lender 
  
 and

  
 RENOVIS, INC. 
 270 Littlefield Avenue 
 South San Francisco, California
94080 
  
 as Borrower 
  
 CREDIT AMOUNT: $1,000,000 
  

		
	 Repayment Period:
	  	 36 months

		
	 Treasury Note Maturity:
	  	 36 months

		
	 Loan Margin:
	  	 390 basis points

		
	 Final Payment Percentage:
	  	 7%

  
 Commitment Termination Date: December 31, 2001,
subject to the terms and conditions of Section 2.1 (a) 
  
 The terms and
information set forth on this cover page are a part of the attached Loan and Security Agreement, dated as of the date first written above (this “Agreement”), entered into by and among GATX Ventures, Inc. (“Lender”)
and Renovis, Inc. (“Borrower”). The terms and conditions of this Agreement agreed to between the parties hereto are as follows: 

 AGREEMENT 
  
 1. Definitions and Construction. 
  
 1.1 Definitions. As used in this Agreement, the following terms shall have the following definitions: 
  
 “Affiliate” means any Person that owns or controls
directly or indirectly ten percent or more of the stock of another entity, any Person that controls or is controlled by or is under common control with such Persons or any Affiliate of such Persons or each of such Person’s officers, directors,
joint venturers or partners. 
  
 “Agreement” shall mean this Loan and Security Agreement, as the same may from time to time be amended or supplemented. 
  
 “All-in Rate”means the per annum rate of interest at which the Scheduled Payments and the Final Payment amortize the Loan.

  
 “Basic Rate” means, as of the relevant
Funding Date, the per annum rate of interest (based on a year of twelve 30-day months) equal to the sum of (a) the U.S. Treasury note yield to maturity for a term equal to the Treasury Note Maturity as quoted in the Western edition of The Wall
Street Journal on the date the Loan Agreement Supplement is prepared, plus (b) the Loan Margin. Notwithstanding the foregoing, the Basic Rate shall not exceed the highest rate permitted by applicable law to be charged on commercial loans.

  
 “Borrower” shall have the meaning set
forth on the cover page hereof. 
  
 “Borrower’s
Home State” shall mean California. 
  
 “Business Day” means any day that is not a Saturday, Sunday, or other day on which banking institutions are authorized or required to close in California or Borrower’s Home State. 
  
 “Closing Date” means the date that each of the
conditions precedent listed in Section 3.1 has been satisfied or waived in writing by Lender. 
  
 “Code” means the Uniform Commercial Code as adopted and in effect in the State of California, as amended from time to time.

  
 “Collateral” has the meaning given that
term in Section 4.1, including, without limitation, all Financed Equipment listed in any Loan Agreement Supplement executed from time to time pursuant to Section 4.2. 
  
 “Commitment Termination Date” means the date following such term on the cover page of this Agreement.

  
 “Credit Amount” means the amount set
forth following such term on the cover page of this Agreement. 
  

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 “Default” means any event which with the passing of time or the giving of notice
or both would become an Event of Default hereunder. 
  
 “Default Rate” means the per annum rate of interest equal to 5% over the All-in Rate, but such rate shall in no event be more than the highest rate permitted by applicable law to be charged on commercial loans. 

 
 “Disclosure Schedule” means Exhibit A attached
hereto. 
  
 “Eligible Equipment” shall
mean, to the extent reasonably acceptable to Lender, Equipment consisting of computer equipment, office equipment, lab equipment, test equipment and furnishings delivered to Borrower by the manufacturer or vendor not more than ninety (90) days prior
to the Funding Date of the Loan relating to such Equipment. 
  
 “Environmental Claims” means all claims, however asserted, by any Governmental Authority or other Person alleging potential liability or responsibility for violation of any Environmental Law or for release or injury to the
environment or threat to public health, personal injury (including sickness, disease or death), property damage, natural resources damage, or otherwise alleging liability or responsibility for damages (punitive or otherwise), cleanup, removal,
remedial or response costs, restitution, civil or criminal penalties, injunctive relief, or other type of relief, resulting from or based upon (a) the presence, placement, discharge, emission or release (including intentional and unintentional,
negligent and non-negligent, sudden or non-sudden, accidental or non-accidental placement, spills, leaks, discharges, emissions or releases) of any Hazardous Material at, in, or from Property, whether or not owned by Borrower, or (b) any other
circumstances forming the basis of any violation, or alleged violation, of any Environmental Law. 
  
 “Environmental Laws” means all foreign, federal, state or local laws, statutes, common law duties, rules, regulations, ordinances
and codes, together with all administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authorities, in each case relating to environmental, health, safety and land use matters,
including the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Clean Air Act, the Federal Water Pollution Control Act of 1972, the Solid Waste Disposal Act, the Federal Resource Conservation and Recovery Act, the
Toxic Substances Control Act and the Emergency Planning and Community Right-to-Know Act. 
  
 “Equipment” has the meaning given to such term in Section 4.1. 
  
 “Equity Securities” of any Person shall mean (a) all common stock, preferred stock, participations,
shares, partnership interests or other equity interests in and of such Person (regardless of how designated and whether or not voting or non-voting) and (b) all warrants, options and other rights to acquire any of the foregoing. 
  
 “Event of Default” has the meaning given to such term
in Section 8. 
  
 “Event of Loss”
has the meaning given to that term in Section 6.10. 
  

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 “Final Payment” means, with respect to each Loan, a payment (in addition to and
not in substitution for the regular monthly payments of principal and accrued interest) due on the Maturity Date for such Loan equal to the Loan Amount for such Loan at such time multiplied by the Final Payment Percentage. 
  
 “Final Payment Percentage” means the percentage set
forth following such terms on the cover page of this Agreement. 
  
 “Financed Equipment” has the meaning given to that term in Exhibit A to any Loan Agreement Supplement, as amended or supplemented from time to time. 
  
 “Funding Date” means any date on which a Loan is made to or on account of Borrower under this
Agreement. 
  
 “Governmental Authority”
means (a) any federal, state, county, municipal or foreign government, or political subdivision thereof, (b) any governmental or quasi-governmental agency, authority, board, bureau, commission, department, instrumentality or public body, (c) any
court or administrative tribunal or (d) with respect to any Person, any arbitration tribunal or other non-governmental authority to whose jurisdiction that Person has consented. 
  
 “Hazardous Materials” means all those substances which are regulated by, or which may form the basis
of liability under, any Environmental Law, including all substances identified under any Environmental Law as a pollutant, contaminant, hazardous waste, hazardous constituent, special waste, hazardous substance, hazardous material, or toxic
substance, or petroleum or petroleum derived substance or waste. 
  
 “Interim Payment” means, with respect to each Loan, an amount equal to the initial Loan Amount multiplied by the percentage equal to the product of (i) the quotient derived from dividing the initial Loan Factor with respect
to such Loan by 30, and (ii) the number of days from (and including) the Funding Date of such Loan to (but not including) the first Payment Date with respect to such Loan. 
  
 “Landlord Agreement” means an agreement substantially in the form of Exhibit E or such other
form as Lender may agree to accept. 
  
 “Lender” shall have the meaning set forth on the cover page hereof. 
  
 “Lender’s Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees and expenses) incurred
in connection with the preparation, negotiation, documentation, administration, funding, and enforcement of the Loan Documents; and Lender’s reasonable attorneys’ fees and expenses incurred in amending, modifying, enforcing or defending
the Loan Documents, including the exercise of any rights or remedies afforded hereunder or under applicable law, whether or not suit is brought. 
  
 “Lien” means any security interest, pledge, bailment, lease, mortgage, hypothecation, conditional sales and title retention
agreement, encumbrance or other lien with respect to the Property in favor of any Person. 
  

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 “Loan” means each advance of credit by Lender to Borrower under this Agreement.

  
 “Loan Agreement Supplement” means a
supplement to this Agreement in substantially the form of Exhibit C. 
  
 “Loan Amount” means, with respect to each Loan, as of any date, the original principal amount of such Loan less prepayments of such Loan paid pursuant to Section 6.10. 
  
 “Loan Documents” means, collectively, this Agreement,
each Loan Agreement Supplement, the Warrant, the Landlord Agreement, any Service Provider’s Consent and all other documents, instruments and agreements entered into in connection with this Agreement, all as amended or extended from time to
time. 
  
 “Loan Factor” means, with respect
to each Loan, the amount set forth as a percentage in the Loan Terms Schedule with respect to such Loan, which fully amortizes the Loan over the Repayment Period applicable to such Loan in equal periodic installments at the Basic Rate. 

 
 “Loan Margin” means the number of basis points set
forth following such terms on the cover page of this Agreement. 
  
 “Loan Terms Schedule” means, with respect to each Loan, Annex B to the Loan Agreement Supplement prepared by Lender in connection with such Loan. 
  
 “Maturity Date” means, with respect to each Loan, the last day of the Repayment Period for such Loan,
or if earlier, the date of acceleration of such Loan by Lender following an Event of Default. 
  
 “Merger Event” shall have the meaning given to such term in Section 7.6. 
  
 “Minimum Funding Amount” means $100,000. 

 
 “Obligations” means all debt, principal, interest,
fees, charges, expenses and attorneys’ fees and costs and other amounts, obligations, covenants, and duties owing by Borrower to Lender of any kind and description (whether pursuant to or evidenced by the Loan Documents, or by any other
agreement between Lender and Borrower, and whether or not for the payment of money), whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including the principal, interest and Final Payment due
with respect to the Loans, and further including all Lender’s Expenses that Borrower is required to pay or reimburse by the Loan Documents, by law, or otherwise. 
  
 “Other Equipment” means, to the extent reasonably acceptable to Lender, tenant improvements and
buildout costs, software, software licenses, tooling, equipment specially manufactured for Borrower, and freight, installation and sales taxes relating to Eligible Equipment and other soft costs. 
  
 “Payment Date” has the meaning given to that term in
Section 2.2(a). 
  

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 “Permitted Liens” shall mean (a) the Lien created by this Agreement, (b) Liens for
fees, taxes, levies, imposts, duties or other governmental charges of any kind which are not yet delinquent or which are being contested in good faith by appropriate proceedings which suspend the collection thereof (provided, however,
that such proceedings do not involve any substantial danger of the sale, forfeiture or loss of any item of Equipment financed with a Loan and that Borrower has adequately bonded such Lien or reserves sufficient to discharge such Lien have been
provided on the books of Borrower) and (c) mechanics’, repairmen’s or other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are being contested in good faith and
by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the property or asset subject to such Lien. 
  
 “Person” means and includes any individual, any partnership, any corporation, any business trust, any joint stock company, any
limited liability company, any unincorporated association or any other entity and any domestic or foreign national, state or local government, any political subdivision thereof, and any department, agency, authority or bureau of any of the
foregoing. 
  
 “Property” means any
interest in any kind of property or asset, whether real, personal or mixed, whether tangible or intangible. 
  
 “Repayment Period” means the period beginning on the first Payment Date and continuing for the Repayment Period set forth following
such term on the cover page of this Agreement. 
  
 “Scheduled Payments” has the meaning given to such term in Section 2.2(a). 
  
 “Service Provider’s Consent” means an agreement substantially in the form of Exhibit F or such other form as Lender may
agree to accept. 
  
 “Stated Cost” means
(i) with respect to Eligible Equipment, the original cost to Borrower of the item of Eligible Equipment excluding any and all freight, installation, taxes and other soft costs, and (ii) with respect to Other Equipment, the original cost to Borrower
of the item of Other Equipment including any and all freight, installation expenses and other soft costs; provided, however, if an item of Eligible Equipment (other than Eligible Equipment financed with the proceeds of the first Loan advanced under
this Agreement) or Other Equipment was purchased by Borrower more than 90 days prior to the Funding Date and Lender agrees to fund such item, the Stated Cost of such item shall be equal to Lender’s appraised value. 
  
 “Stipulated Loan Value” means, with respect to each
Loan, the Stipulated Loan Value Percentage set forth with respect to such Loan in the Loan Terms Schedule for such Loan, determined as of the Payment Date on which payment of such amount is to be made, or if such date is not a Payment Date, on the
Payment Date immediately succeeding such date, multiplied by the Loan Amount. 
  
 “Stipulated Loan Value Percentage” means, with respect to each Loan, the percentage set forth with respect to such Loan in the Loan Terms Schedule for such Loan, determined as of the Payment Date on which
payment of such amount is to be made, or if such date is not a Payment 

  

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Date, on the Payment Date immediately succeeding such date and shall be equal at any point in time to the present value of the remaining Scheduled Payments and the
Final Payment discounted at six percent per annum, expressed as a percentage of the Loan Amount. 
  
 “Subsidiary” means any corporation of which a majority of the outstanding capital stock entitled to vote for the election of
directors (otherwise than as the result of a default) is owned by Borrower directly or indirectly through Subsidiaries. 
  
 “Term” means the period from and after the date hereof until the payment in full of all amounts and liabilities payable under this
Agreement and the other Loan Documents, including principal and interest on the Loans and the Final Payment with respect to each Loan. 
  
 “Treasury Note Maturity” means the periods of months set forth following such terms on the cover page of this Agreement.

  
 “Warrant” means a warrant in favor of
Lender to purchase securities of Borrower substantially in the form of Exhibit B. 
  
 1.2 Other Interpretive Provisions. References in this Agreement to “Articles,” “Sections,” “Exhibits,
“Schedules” and “Annexes” are to recitals, articles, sections, exhibits, schedules and annexes herein and hereto unless otherwise indicated. References in this Agreement and each of the other Loan Documents to any document,
instrument or agreement shall include (a) all exhibits, schedules, annexes and other attachments thereto, (b) all documents, instruments or agreements issued or executed in replacement thereof, and (c) such document, instrument or agreement, or
replacement or predecessor thereto, as amended, modified and supplemented from time to time and in effect at any given time. The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Agreement or any other Loan Document shall refer to this Agreement or such other Loan Document, as the case may be, as a whole and not to any particular provision of this Agreement or such other Loan Document, as the case may be. The words
“include” and “including” and words or similar import when used in this Agreement or any other Loan Document shall not be construed to be limiting or exclusive. Unless otherwise indicated in this Agreement or any other Loan
Document, all accounting terms used in this Agreement or any other Loan Document shall be construed, and all accounting and financial computations hereunder or thereunder shall be computed, in accordance with generally accepted accounting principles
as in effect in the United States of America from time to time. 
  
 2.
Loans; Repayment. 
  
 2.1 Commitment.

  
 (a) The Credit Amount. Subject to the terms and
conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lender agrees to lend to Borrower from time to time prior to the Commitment Termination Date, the Loans in an
amount equal to (i) one hundred percent (100%) of the Stated Cost of Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit
Amount at such time; provided further that the aggregate original principal amount of 

  

 7 

 
all Loans advanced to Borrower relating to the financing of Other Equipment shall not as of the Commitment Termination Date exceed twenty percent (20%) of the
aggregate original principal amount of all of all Loans. If the aggregate principal amount of all Other Equipment Loans outstanding on the Commitment Termination Date exceeds twenty percent (20%) of the aggregate principal amount of all Loans
outstanding on such date (the “Other Equipment Differential”), then at Borrower’s election, Borrower shall immediately either (a) pay down the Loan (without penalty for such payment) in an amount equal to the Other Equipment
Differential, (b) deposit with Lender, as cash collateral to secure the Other Equipment Differential, an amount equal to the Other Equipment Differential (such deposit amount may be reduced from time to time (but not more frequently than
semi-annually) by an amount that corresponds to the principal reduction of the Other Equipment Differential over the same time period), or (c) cause to be issued for the benefit of Lender a letter of credit in an amount equal to the Other Equipment
Differential. If such a letter of credit is issued, then (i) it should be issued by an institution acceptable to Lender, (ii) its form and substance shall be acceptable to Lender, (iii) Lender shall have the right to draw on such letter of credit
upon the occurrence and during the continuance of any Event of Default under this Agreement, and (iv) its face value may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal
reduction of the Other Equipment Differential over the same time period. Loans may not be prepaid except in accordance with Section 2.5. 
  
 (b) Promissory Note. Each Loan Terms Schedule shall be considered a promissory note evidencing the amounts due hereunder for all purposes.

  
 (c) Use of Proceeds. The proceeds of the Loans
shall be used solely for the purchase of Eligible Equipment or Other Equipment or reimbursement to Borrower of the Stated Cost of Eligible Equipment or Other Equipment. 
  
 2.2 Scheduled Payments; Payment of Interest; Final Payment; Loan Fee. 
  
 (a) Scheduled Payments. Borrower shall make payments of
principal and accrued interest in advance for each Loan (collectively, “Scheduled Payments”) as set forth in the Loan Terms Schedule, commencing on the date set forth on the Loan Term Schedule applicable to such Loan and continuing
thereafter during the Repayment Period on the first Business Day of each calendar month (each a “Payment Date”), in an amount equal to the Loan Factor multiplied by the Loan Amount for such Loan as of such Payment Date. In any
event, all unpaid principal and accrued interest shall be due and payable in full on the last Payment Date with respect to such Loan. 
  
 (b) Interim Payment. Unless the Funding Date for a Loan is a Payment Date, Borrower shall pay the Interim Payment payable with respect to
such Loan on the Funding Date, as specified in the Loan Term Schedule applicable to such Loan. 
  
 (c) Final Payment. Unless a Loan is prepaid in full in accordance with the terms of this Agreement, on the Maturity Date with respect to
such Loan, Borrower shall pay, in addition to any unpaid Scheduled Payments, accrued and unpaid interest and all other amounts due on such date with respect to such Loan, an amount equal to the Final Payment with respect to such Loan. 
  

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 (d) Payment of Interest. Borrower shall pay interest on each Loan at a per annum rate of
interest equal to the All-in Rate. All computations of interest on Loans shall be based on a year of twelve 30-day months. Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum
amount permitted by the law applicable to interest charged on commercial loans. 
  
 (e) Termination of Commitment to Lend. Notwithstanding anything in the Loan Documents, Lender’s obligation to lend the undisbursed
portion of Lender’s Commitment to Borrower hereunder shall terminate on the earlier of (i) at Lender’s sole election, the occurrence and continuance of any Default or Event of Default hereunder, and (ii) the Commitment Termination Date.
Notwithstanding the foregoing, Lender’s obligation to lend the undisbursed portion of Lender’s Commitment to Borrower shall terminate if, in Lender’s sole judgment made in good faith, there has been a material adverse change in the
general affairs, management, results of operations, condition (financial or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by
Borrower from the business plan of Borrower presented to Lender on the date of this Agreement. 
  
 2.3 Other Payment Terms. 
  
 (a) Place and Manner. Borrower shall make all payments due to Lender in lawful money of the United States at the address for payments and in
the manner specified in Section 11. 
  
 (b) Date.
Whenever any payment due hereunder shall fall due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall be included in the computation of interest or fees, as the case
may be. 
  
 (c) Default Rate. If either (i) any
amounts required to be paid by Borrower under this Agreement or the other Loan Documents (including Scheduled Payments, the Final Payment payable with respect to any Loan, accrued and unpaid interest and any fees or other amounts) remain unpaid
after such amounts are due, or (ii) an Event of Default has occurred and is continuing, Borrower shall pay interest on the aggregate, outstanding balance hereunder from the date due or from the date of the Event of Default, as applicable, until such
past due amounts are paid in full or until all Events of Default are cured, as applicable, at a per annum rate equal to the Default Rate. All computations of such interest shall be based on a year of twelve 30-day months. 
  
 2.4 Procedure for Making Loans. 
  
 (a) Notice. Whenever Borrower desires Lender to make a Loan,
Borrower shall be responsible for providing Lender with a list of equipment proposed to be financed with such Loan together with such additional information with respect to the Loan and the Eligible Equipment and the Other Equipment as Lender shall
reasonably request. Following the receipt by Lender of such information in form and substance reasonably satisfactory to it, Lender shall notify Borrower that the conditions set forth in Sections 3.2(b) and 3.2(c) have been met and 

  

 9 

 
Borrower may then notify Lender in writing (or by telephone with prompt confirmation in writing) of the date on which it desires Lender to make such Loan. Such notice
shall (i) be made at least five (5) Business Days in advance of the desired Funding Date, (ii) be irrevocable and (iii) request that Lender prepare a Loan Terms Schedule for such Loan. Borrower’s execution and delivery to Lender of the Loan
Agreement Supplement with the attached Loan Terms Schedule shall be Borrower’s agreement to the terms and calculations thereunder. Borrower’s request for a Loan shall be deemed to be a representation and warranty by Borrower that no
Default or Event of Default has occurred and is continuing, and that the representations and warranties set forth in Section 5 are true and correct as of the time of such notice as if made at such time. Subject to the terms and conditions of this
Agreement, as soon as practicable on the Funding Date specified in the Loan Terms Schedule, Lender shall transfer the amount of the Loan to the account specified in Section 2.4(c) in immediately available funds. Lender’s obligation to make the
Loan shall be expressly subject to the satisfaction of the conditions set forth in Sections 3.1 and 3.2 
  
 (b) Loan Factor and Stipulated Loan Value Calculation. Prior to each Funding Date, Lender shall establish the Basic Rate, the Loan Factor,
the All-in Rate and the Stipulated Loan Value Percentage with respect to such Loan, which shall be set forth in the Loan Agreement Supplement to be executed by Borrower with respect to each Loan and shall be conclusive in the absence of a manifest
error. 
  
 (c) Disbursement. Lender shall disburse
its Loan by wire transfer to Borrower unless otherwise directed in writing by Borrower. 
  
 2.5 Prepayments. 
  
 (a) Prepayment Upon an Event of Loss. If any Financed Equipment is subject to an Event of Loss and Borrower is required to or elects to
prepay the Loan with respect to such Financed Equipment, then such Loan shall be prepaid to the extent and in the manner provided in Section 6.10. 
  
 (b) Mandatory Prepayment Upon an Acceleration. If the Loans are accelerated following the occurrence of an Event of Default or otherwise
(other than following an Event of Loss), then Borrower shall immediately pay to Lender (i) all accrued and unpaid Scheduled Payments with respect to each Loan due prior to the date of prepayment, (ii) any accrued and unpaid interest, (iii) the
Stipulated Loan Value with respect to each Loan, and (iv) all other sums, if any, that shall have become due and payable hereunder. 
  
 (c) Optional Prepayment. Upon ten (10) Business Days’ prior written notice to Lender, Borrower may, at its option, prepay all, and not
less than all, of the Loans in full by paying to Lender an amount equal to (i) all accrued and unpaid Scheduled Payments with respect to each Loan due on or prior to the date of prepayment; (ii) the sum of all remaining unpaid Scheduled Payments
discounted to present value to the date of prepayment at six percent (6%) per annum; (iii) the sum of all Final Payments discounted to present value to the date of prepayment at six percent (6%) per annum; and (v) all other sums, if any, that shall
have become due and payable hereunder. If an Event of Default occurs and is continuing, and Lender exercises its right under Section 9.1 to accelerate the Loans or the Loans are automatically 

  

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accelerated, Borrower expressly agrees that the amount then due and payable shall be equal to (i) all accrued and unpaid Scheduled Payments on each Loan due on or
prior to the date of acceleration; (ii) the Stipulated Loan Value of each Loan, and (iii) all other sums, if any, that shall have become due and payable hereunder as of the date of such acceleration. Except as set forth in this Section 2.5, the
Loans may not be prepaid. 
  
 (d) Optional Prepayment
in connection with a Merger or Acquisition. In the event that Borrower requests Lender’s consent to a Merger Event that would otherwise be prohibited under Section 7.6 and if Lender does not consent to such Merger Event, then Borrower may
prepay all outstanding Loans under this Agreement without penalty or premium (prepayment of the Loan shall be satisfied by receipt of the Lender of all outstanding principal amounts, all unpaid but accrued interest and all other sums, if any, that
shall have become due and payable hereunder as of the date of such prepayment). 
  
 2.6 Minimum Funding Amount; Maximum Number of Fundings. Except with the prior consent of Lender, in Lender’s sole discretion, (i) there
shall not be more than one funding of a Loan in any one calendar month; and (ii) the aggregate amount of the requested Loans shall not be less than the Minimum Funding Amount, provided that if the available Credit Amount is less than the Minimum
Funding Amount, then the aggregate amount of such requested Loans shall not be less than the available Credit Amount. 
  
 2.7 Good Faith Deposit. Borrower has paid a good faith deposit in the amount of Five Thousand Dollars ($5,000) (the “Good Faith
Deposit”). Any portion of the Good Faith Deposit not utilized to pay Lender’s expenses (such expenses shall not exceed $1,000 without the consent of the Borrower) in connection with Lender’s due diligence and the negotiation,
documentation and funding of the Loans will be applied to the final principal payment with respect to the Loans. If the Loans are not made, any remaining balance of the Commitment Fee shall be retained by Lender. 
  
 3. Conditions of Loans. 
  
 3.1 Conditions Precedent to Closing. At the time of the
execution and delivery of this Agreement, the Lender shall have received, in form and substance reasonably satisfactory to Lender, all of the following: 
  
 (a) This Agreement duly executed by Borrower and Lender. 
  

(b) A Warrant to be issued to Lender, duly executed by Borrower. 
  
 (c) [Intentionally Omitted] 
  

(d) A certificate of the secretary or assistant secretary of Borrower with copies of the following documents attached: (i) the articles of
incorporation and bylaws of Borrower certified by Borrower as being in full force and effect on the Closing Date, (ii) incumbency and representative signatures, and (iii) resolutions authorizing the execution and delivery of this Agreement and each
of the other Loan Documents. 
  

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 (e) A good standing certificate from Borrower’s state of incorporation and the state in which
Borrower’s principal place of business is located, together with certificates of the applicable governmental authorities stating that Borrower is in compliance with the franchise tax laws of each such state, each dated as of a recent date.

  
 (f) Evidence of the insurance coverage required by
Section 6.9 of this Agreement. 
  
 (g) All necessary
consents of shareholders and other third parties with respect to the execution, delivery and performance of this Agreement, the Warrant and the other Loan Documents. 
  
 (h) [Intentionally Omitted] 
  

(i) Such other documents, and completion of such other matters, as Lender may deem reasonably necessary or appropriate. 
  
 3.2 Conditions Precedent to all Loans. The obligation of Lender
to make each Loan, including the initial Loan, is further subject to the following conditions: 
  
 (a) No Default or Event of Default shall have occurred and be continuing. 
  
 (b) Borrower shall have provided to Lender, with respect to the Eligible Equipment which is requested to be financed
with the proceeds of the Loan to be made on such Funding Date, such invoices, purchase orders, bills of sale, serial numbers, agreements, canceled checks or bank statements, and other documents as Lender shall reasonably request to evidence the
ownership by Borrower of, the payment in full of the purchase price of such Eligible Equipment, each in form and substance reasonably satisfactory to Lender. 
  

(c) Borrower shall have provided to Lender, with respect to the Other Equipment which is requested to be financed with the proceeds of the Loan
to be made on such Funding Date, such invoices, purchase orders, bills of sale, agreements, canceled checks or bank statements, and other documents as Lender shall reasonably request to evidence the ownership by Borrower of, the payment in full of
the purchase price of such Other Equipment, each in form and substance reasonably satisfactory to Lender. 
  
 (d) Borrower shall have provided Lender with the location of each item of Financed Equipment and a Landlord Agreement for each such location
(unless Borrower is the fee owner thereof) or a Service Provider’s Consent if Financed Equipment is located at a third party service provider, as appropriate, which has been duly executed by each of the parties thereto. 
  
 (e) Borrower and Lender shall have executed a Loan Agreement
Supplement, including a Loan Terms Schedule and a list of Financed Equipment with respect to the proposed Loan. 
  
 (f) Lender shall have received such documents, instruments and agreements, including UCC financing. statements or amendments to UCC financing
statements, 

  

 12 

 
as Lender shall reasonably request to evidence the perfection and priority of the security interests granted to Lender pursuant to Section 4. 
  
 (g) Borrower shall have delivered to Lender a release, or estoppel
letter, as appropriate, from any Person having an existing Lien superior to the Lien of Lender on any item of Eligible Equipment or Other Equipment which is requested to be financed. 
  
 (h) Such other documents, and completion of such other matters, as Lender may deem reasonably necessary or
appropriate. 
  
 3.3 Covenant to Deliver. Borrower
agrees (not as a condition but as a covenant) to deliver to Lender each item required to be delivered to Lender as a condition to each Loan, if such Loan is advanced. Borrower expressly agrees that the extension of such Loan prior to the receipt by
Lender of any such item shall not constitute a waiver by Lender of Borrower’s obligation to deliver such item, and any such extension in the absence of a required item shall be in Lender’s sole discretion. 
  
 4. Creation of Security Interest. 
  
 4.1 Grant of Security Interest. Borrower grants to Lender, a
valid, first priority, continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt, full and complete payment of any and all Obligations and in order to secure prompt, full and
complete performance by Borrower of each of its covenants and duties under each of the Loan Documents. The “Collateral” shall mean and include all right, title, interest, claims and demands of Borrower in and to all of the
following: 
  
 All right, title, interest, claims and
demands of Borrower in and to each and every item of equipment, fixtures or personal property, whether now owned or hereafter acquired, together with all substitutions, renewals or replacements of and additions, improvements, accessions, replacement
parts and accumulations to any and all of such equipment, fixtures or personal property (collectively, the “Equipment”), together with all proceeds thereof, including, without limitation, insurance, condemnation, requisition or
similar payments, and all proceeds from sales, renewals, releases or other dispositions thereof, which is financed with or is designated by Borrower as collateral for the Obligations on and after the date of this Agreement by designating such
equipment, fixtures and personal property on a UCC financing statement listing Borrower as “debtor” and Lender as “secured party.” 
  
 4.2 After-Acquired Property. All Financed Equipment which is financed through Loans and any and all other Property generally described or
referred to as Collateral or Financed Equipment which is hereafter acquired by Borrower shall ipso facto, and without any further conveyance, assignment or act on the part of Borrower or Lender, become and be subject to the security interest herein
granted as fully and completely as though specifically described herein. The list of Financed Equipment shall be amended and supplemented on each Funding Date by a Loan Agreement Supplement to incorporate all Financed Equipment financed with the
Loan advanced on such Funding Date; provided, however, the failure to so amend and supplement the 

  

 13 

 
list of Financed Equipment shall not affect the grant by Borrower to Lender of the security interest in such Financed Equipment pursuant to this Section 4. This
Agreement and the other documents in connection herewith may be otherwise supplemented and amended from time to time, as required by Lender, to reflect additional Collateral to be subject to the security interest granted pursuant to this Section 4.

  
 4.3 Duration of Security Interest. Lender’s
security interest in the Collateral shall continue until the payment in full and the satisfaction of all Obligations, whereupon such security interest shall terminate; provided, however, if any item of Financed Equipment is subject to an Event of
Loss, then following the prepayment of the Loan with respect to such item pursuant to Section 2.5, Lender shall release its security interest in such item of Financed Equipment. Lender shall, at Borrower’s sole cost and expense, execute such
further documents and take such further actions as may be reasonably necessary to effect the release contemplated by this Section 4.3, including duly executing and delivering termination statements for filing in all relevant jurisdictions under the
Code. 
  
 4.4 Location and Possession of Collateral.
The Collateral is and shall remain in the possession of Borrower at its location listed on the cover page hereof or such other location indicated on the applicable Loan Terms Schedule that is approved by Lender. For purposes of this Section 4.4,
South San Francisco, California, shall be deemed to be an approved location for purposes of this Agreement. Borrower shall remain in full possession, enjoyment and control of the Collateral (except only as may be otherwise required by Lender for
perfection of its security interest therein) and so long as no Event of Default has occurred and is continuing, shall be entitled to manage, operate and use the same and each part thereof with the rights and franchises appertaining thereto;
provided, however, that the possession enjoyment, control and use of the Collateral shall at all time be subject to the observance and performance of the terms of this Agreement. 
  
 4.5 Markings on the Collateral. At Lender’s request at any
time during the Term of the Loan (including any extension thereof), Borrower shall place in a conspicuous location on each item of Financed Equipment a plaque or other marking to be supplied by Lender which reads substantially as follows:

  
 GATX VENTURES, INC., Lienholder. 
  
 Such plaque or other marking shall not be removed (or if removed or
damaged such plaque or other marking shall be replaced) until the security interest in favor of Lender in such item of Collateral is terminated pursuant to this Agreement. 
  
 4.6 Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to
Lender, at the request of Lender, all financing statements and other documents that Lender may reasonably request, in form satisfactory to Lender, to perfect and continue Lender’s perfected security interests in the Collateral and in order to
consummate fully all of the transactions contemplated under the Loan Documents. 
  
 4.7 Right to Inspect. Lender (through any of its officers, employees or agents) shall have the right, upon twenty-four (24) hours’ prior
notice, from time to time during 

  

 14 

 
Borrower’s usual business hours and in a manner which will not unreasonably interfere with Borrower’s business, to inspect Borrower’s books and records
and to make copies thereof and to inspect, test, and appraise the Collateral in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 
  
 5. Representations and Warranties. Except as set forth in the Disclosure
Schedule, Borrower represents and warrants as follows: 
  
 5.1 Organization and Qualification. Borrower is a corporation duly organized and validly existing and in good standing under the laws of its state of incorporation and qualified and licensed to do business in, and is in good standing
in, any state in which the conduct of its business or its ownership of Property requires that it be so qualified or in which the Collateral is located, except for such states as to which any failure to so qualify would not have a material adverse
effect on Borrower. Borrower has no Subsidiaries. 
  
 5.2
Authority. Borrower has all necessary power and authority to execute, deliver, and perform in accordance with the terms thereof, the Loan Documents to which it is a party. Borrower has all requisite power and authority to own and operate its
properties and to carry on its businesses as now conducted. 
  
 5.3 Conflict with Other Instruments, etc. Neither the execution and delivery of any Loan Document to which Borrower is a party nor the consummation of the transactions therein contemplated nor compliance with the terms, conditions
and provisions thereof will conflict with or result in a breach of any of the terms, conditions or provisions of the articles of incorporation and the by-laws, or other organizational documents of Borrower or any law or any regulation, order, writ,
injunction or decree of any court or governmental instrumentality or any material agreement or instrument to which Borrower is a party or by which it or any of its properties is bound or to which it or any of its properties is subject, or constitute
a default thereunder or result in the creation or imposition of any Lien, other than Permitted Liens. 
  
 5.4 Authorization; Enforceability. The execution and delivery of this Agreement, the granting of the security interest in the Collateral, the
incurring of the Loans, the execution and delivery of the other Loan Documents to which Borrower is a party and the consummation of the transactions herein and therein contemplated have each been duly authorized by all necessary action on the part
of Borrower. The Loan Documents have been duly executed and delivered and constitute legal, valid and binding obligations of Borrower, enforceable in accordance with their respective terms, except as the enforceability thereof may be limited by
bankruptcy, insolvency or other similar laws of general application relating to or affecting the enforcement of creditors’ rights or by general principles of equity. 
  
 5.5 No Prior Encumbrances. Borrower has good and marketable title to the Collateral, free and clear of Liens
except for Permitted Liens. 
  
 5.6 Name; Location of
Chief Executive Office, Principal Place of Business and Collateral. Borrower has not done business under any name other than Renovis Neurosciences, Inc. and that specified on the signature page hereof. The chief executive office, principal place
of business, and the place where Borrower maintains its records concerning the Collateral are 

  

 15 

 
presently located at the address set forth on the cover page of this Agreement. The Collateral is presently located at the address set forth on the cover page hereof,
or as set forth in a Loan Agreement Supplement which is approved by Lender. 
  
 5.7 Litigation. There are no actions or proceedings pending by or against Borrower before any court or administrative agency in which an adverse decision could have a material adverse effect on Borrower or the aggregate
value of the Collateral. Borrower does not have knowledge of any such pending or threatened actions or proceedings. Borrower will promptly notify Lender in writing if any action, proceeding or governmental investigation involving Borrower is
commenced that is reasonably expected to result in damages or costs to Borrower of Two Hundred Thousand Dollars ($200,000) or more. 
  
 5.8 Financial Statements. All financial statements relating to Borrower or any Affiliate that have been or may hereafter be delivered by
Borrower to Lender present fairly in all material respects Borrower’s financial condition as of the date thereof and Borrower’s results of operations for the period then ended. 
  
 5.9 Security Interest. Assuming the proper filing of one or more financing statement(s) identifying the
Collateral with the proper state and/or local authorities, the security interests in the Collateral granted to Lender pursuant to this Agreement (i) constitute and will continue to constitute first priority security interests and (ii) are and will
continue to be superior and prior to the rights of all other creditors of Borrower. 
  
 5.10 No Material Adverse Effect. No event has occurred and no condition exists which could reasonably be expected to have a material adverse
effect on the financial condition, business or operations of Borrower since November 30, 2000. 
  
 5.11 Full Disclosure. No representation or, warranty or other statement made by Borrower in any Loan Document (including the Disclosure
Schedule), or certificate or any other written statement furnished to Lender, in conjunction with the closing or the funding of any Loan, contains any untrue statement of a material fact or omits to state a material fact necessary in order to make
the statements contained in such certificates or statements not misleading, which untrue statement or omission has not been corrected, in writing, prior to Lender being materially adversely affected thereby. There is no fact known to Borrower and
not disclosed in writing to Lender which materially adversely affects, or which could in the future be reasonably expected to materially adversely affect, its ability to perform its obligations under this Agreement. It is recognized by Lender that
projections and forecasts provided by or on behalf of the Borrower, although reflecting the Borrower’s good faith projections or forecasts based on methods and data which the Borrower believes to be reasonable and accurate, are not to be viewed
as facts and that actual results during the periods covered by any such projections and forecasts may (and are likely to) differ from the projected or forecasted results. 
  

 16 

 6. Affirmative Covenants. Borrower covenants and agrees that, until the full and complete payment of the
Obligations and the termination of the Commitments, Borrower shall do all of the following: 
  
 6.1 Good Standing. Borrower shall maintain its corporate existence and its good standing in its jurisdiction of incorporation and maintain
qualification in each jurisdiction in which the failure to so qualify could reasonably be expected to have a material adverse effect on the financial condition, operations or business of Borrower. Borrower shall maintain in force all licenses,
approvals and agreements, the loss of which could reasonably be expected to have a material adverse effect on its financial condition, operations or business. 
  

6.2 Government Compliance. Borrower shall comply with all statutes, laws, ordinances and government rules and regulations to which it is
subject, noncompliance with which could reasonably be expected to materially adversely affect the financial condition, operations or business of Borrower. 
  
 6.3 Financial Statements, Reports, Certificates. Borrower shall deliver to Lender: (a) as soon as available, but in any event within thirty
(30) days after the end of each month, a company prepared balance sheet, income statement and cash flow statement covering Borrower’s operations during such period, certified by a Responsible Officer; (b) as soon as possible, but in any event
within thirty (30) days after the end of each calendar quarter, a company prepared balance sheet, income statement and cash flow statement covering Borrower’s operations during such period, certified by a Responsible Officer; (c) as soon as
available, but in any event within one hundred twenty (120) days after the end of Borrower’s fiscal year, audited financial statements of Borrower prepared in accordance with generally accepted accounting principles, consistently applied,
together with an unqualified opinion on such financial statements of a nationally recognized or other independent public accounting firm reasonably acceptable to Lender; and (d) such other financial information as Lender may reasonably request from
time to time, including, without limitation, annual budgets approved by the Borrower’s board of directors and any interim revisions or modifications approved by the Borrower’s board of directors. Notwithstanding the foregoing, Borrower
shall not be required to deliver any of the documents referenced in Section 6.3(a) during any month after the Commitment Termination Date, as extended herein or by Lender in its sole discretion. From and after such time as Borrower becomes a
publicly reporting company, promptly as they are available and in any event: (x) at the time of filing of Borrower’s Form 10-K with the Securities and Exchange Commission after the end of each fiscal year of Borrower, the financial statements
of Borrower filed with such Form 10-K; and (y) at the time of filing of Borrower’s Form 10-Q with the Securities and Exchange Commission after the end of each of the first three fiscal quarters of Borrower, the financial statements of Borrower
filed with such Form 10-Q. In addition, Borrower shall deliver to Lender (i) promptly upon becoming available, copies of all statements, reports and notices sent or made available generally by Borrower to its security holders; (ii) immediately upon
receipt of notice thereof, a report of any material legal actions pending or threatened against Borrower; and (iii) such other financial information as Lender may reasonably request from time to time. 
  
 6.4 Certificates of Compliance. Each time financial statements
are furnished pursuant to Section 6.3 above, there shall be delivered to Lender, a certificate signed by a 

  

 17 

 
Responsible Officer (each, an “Officer’s Certificate”) with respect to such financial reports to the effect that: (i) no Event of Default or Default has
occurred and is continuing hereunder since the date of this Agreement or, if later, since the date of the prior Officer’s Certificate or, if such an event or condition has occurred and is continuing, the nature and extent thereof and the action
Borrower proposes to take with respect thereto, and (ii) Borrower is in compliance with the provisions of Sections 6 and 7. 
  
 6.5 Notice of Event of Loss. As soon as possible, and in any event within ten (10) days after Borrower has knowledge thereof, Borrower shall
notify Lender in writing in reasonable detail of any Event of Loss. 
  
 6.6 Notice of Defaults. As soon as possible, and in any event within five (5) days after the discovery of a Default or an Event of Default, provide Lender with an Officer’s Certificate of Borrower setting forth the
facts relating to or giving rise to such Default or Event of Default and the action which Borrower proposes to take with respect thereto. 
  
 6.7 Taxes. Borrower shall make due and timely payment or deposit of all federal, state, and local taxes, assessments, or contributions
required of it by law or imposed upon any properties belonging to it, including the Financed Equipment, and will execute and deliver to Lender, on demand, appropriate certificates attesting to the payment or deposit thereof; and Borrower will make
timely payment or deposit of all tax payments and withholding taxes required of it by applicable laws, including those laws concerning F.I.C.A., F.U.T.A., state disability, and local, state, and federal income taxes, and will, upon request, furnish
Lender with proof satisfactory to Lender indicating that Borrower has made such payments or deposits; provided that Borrower need not make any payment if the amount or validity of such payment is contested in good faith by appropriate proceedings
and as to which payment in full is bonded or is adequately reserved against by Borrower. 
  
 6.8 Use; Maintenance. 
  
 (a) Borrower, at its expense, shall make all necessary site preparations and cause the Collateral to be operated in accordance with any applicable
manufacturer’s manuals or instructions. So long as no Event of Default has occurred and is continuing, Borrower shall have the right to quietly possess and use the Collateral as provided herein without interference by Lender. 
  
 (b) Borrower, at its expense, shall maintain the Collateral in good
condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations to which the use and operation of the Collateral may be or become subject. Such obligation shall extend to repair and
replacement of any partial loss or damage to the Collateral which does not constitute an Event of Loss, regardless of the cause. If maintenance is mandated by manufacturer with respect to the Equipment, Borrower shall maintain such Equipment in
accordance with manufacturer’s specifications and in a manner which will not impair or compromise any applicable warranties associated with such Equipment. All parts furnished in connection with such maintenance or repair shall immediately
become part of the Collateral. All such maintenance, repair and replacement services shall be immediately paid for and discharged by Borrower with the result that no Lien will attach to the Collateral. 
  

 18 

 6.9 Insurance. Borrower shall, obtain and maintain for the Term, at its own expense:

  
 (a) “All risk” insurance against loss or
damage to the Collateral. The coverage limit shall be the greater of the replacement cost of the Equipment or the Stipulated Loan Value of the Loan Amount applicable to each Loan. The deductible shall not exceed $25,000. The policy (i) shall name
Lender as loss payee as its interests may appear with respect to the Equipment, and (ii) shall not be invalidated by any action of or breach of warranty by Borrower of any provision thereof and waive subrogation against Lender. 
  
 (b) Commercial general liability insurance (including contractual
liability, products liability and completed operations coverages) reasonably satisfactory to Lender. The limit of liability shall be at least $5,000,000 per occurrence. The policy shall be without deductible, except for products liability coverage
which may have a deductible up to $25,000. The policy(ies) shall name Lender as additional insured in the full amount of Borrower’s liability coverage limits (or the coverage limits of any successor to Borrower or such successor’s parent
which is providing coverage), be primary and without contribution as respects any insurance carried by Lender, and contain cross liability and severability of interest clauses. 
  
 All policies of insurance shall be placed with financially sound, commercial insurers reasonably satisfactory to
Lender. All policies of insurance shall provide that Lender shall be given 30 days’ notice of cancellation of coverage. This notice provision shall be without qualification. On or prior to the first Funding Date and prior to each policy
renewal, Borrower shall furnish to Lender certificates of insurance or other evidence satisfactory to Lender that insurance complying with all of the above requirements is in effect. 
  
 6.10 Loss; Damage; Destruction and Seizure. 
  
 (a) Borrower shall bear the risk of the Financed Equipment being lost, stolen, destroyed, damaged beyond repair,
rendered permanently unfit for use, or seized by a governmental authority for any reason whatsoever at any time until the expiration or termination of the Term. 
  
 (b) Subject to the terms and conditions of Section 6.10(c), if during the Term any item of Financed Equipment is
lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason whatsoever for a period equal to at least the remainder of the Term (an “Event of Loss”), then in each
case Lender shall receive from the proceeds of insurance maintained pursuant to Section 6.9, from any award paid by the seizing governmental authority or, to the extent not received from the proceeds of insurance or award or both, from Borrower, on
or before the Payment Date next succeeding such Event of Loss, an amount equal to the sum of: (i) all accrued and unpaid Scheduled Payments with respect to such Loan due prior to the next such Payment Date, (ii) an amount equal to the Stipulated
Loan Value Percentage with respect to such Loan multiplied by the Stated Cost of each affected item of Financed Equipment, and (iii) all other sums, if any, that shall have become due and payable hereunder with respect to such Loan, including
interest at the Default Rate with respect to any past due amounts. On the date of receipt by Lender of the amount specified above with respect to each such item of Financed 

  

 19 

 
Equipment subject to an Event of Loss, this Agreement shall terminate as to such Financed Equipment. Except as provided in Section 6.10(c), any proceeds of insurance
maintained by Borrower pursuant to Section 6.9 and received by Borrower shall be paid to Lender promptly upon their receipt by Borrower. If any proceeds of insurance or awards received from governmental authorities arc in excess of the amount owed
under this Section 6.10, Lender shall promptly remit to Borrower the amount in excess of the amount owed to Lender. 
  
 (c) So long as no Event of Default has occurred and is continuing, any proceeds of insurance maintained pursuant to Section 6.9 received by Lender
or Borrower with respect to an item of Financed Equipment, shall, at the election of Borrower, be applied either to the repair or replacement of such Financed Equipment or, upon Lender’s receipt of evidence of the repair or replacement of the
Financed Equipment reasonably satisfactory to Lender, to the reimbursement of Borrower for the cost of such repair or replacement. All replacement parts and equipment acquired by Borrower in replacement of Financed Equipment pursuant to this Section
6.10(c) shall immediately become part of the Financed Equipment upon acquisition by Borrower. Borrower shall take such actions and provide such documentation as may be reasonably requested by Lender to protect and preserve Lender’s first
priority security interest and otherwise to avoid any impairment of Lender’s rights under the Loan Documents in connection with such repair or replacement. 
  
 6.11 Further Assurances. At any time and from time to time Borrower shall execute and deliver such further
instruments and take such further action as may reasonably be requested by Lender to effect the purposes of this Agreement. 
  
 7. Negative Covenants. Borrower covenants and agrees that until the full and complete payment of the Obligations and termination of the Commitments, Borrower
will not do any of the following: 
  
 7.1 Chief
Executive Office; Collateral Location. During the continuance of this Agreement, change its name, chief executive office, principal place of business or change any location of any Collateral as set forth in a Loan Agreement Supplement without
(i) thirty (30) days’ prior written notice to Lender, (ii) delivery to Lender of a Landlord Agreement from the landlord of such new location and (iii) any other documents reasonably necessary to maintain the perfection and priority of
Lender’s security interest in the Collateral. 
  
 7.2
Collateral Control. Subject to its rights under Section 4, (i) terminate, waive or release any material right with respect to any Collateral, (ii) except upon thirty days’ prior written notice to Lender, remove any items of Collateral
from Borrower’s facility located at the address set forth on the cover page hereof or such other address agreed to in writing by Lender, or (iii) affix or attach or permit to be affixed or attached to any item of Collateral any other item of
property owned by Borrower or any other lender, lessor or financing party which is not readily identifiable or separable without any damage to such item of Collateral, without Lender’s prior written consent. 
  
 7.3 Liens. Create, incur, assume or suffer to exist any Lien of
any kind upon any Collateral, whether now owned or hereafter acquired, except Permitted Liens. 
  

 20 

 7.4 Other Dispositions of Collateral. Convey, sell, lease or otherwise dispose of all or any
part of the Collateral to any Person except for Financed Equipment in which Lender shall have released its security interest pursuant to Section 4.3. 
  
 7.5 Distributions. (i) Pay any dividends or make any distributions on its Equity Securities; (ii) purchase, redeem, retire, defease or
otherwise acquire for value any of its Equity Securities (other than repurchases in an aggregate amount not to exceed $100,000); (iii) return any capital to any holder of its Equity Securities as such; (iv) make any distribution of assets, Equity
Securities, obligations or securities to any holder of its Equity Securities as such; or (v) set apart any sum for any such purpose; provided, however, that Borrower may pay dividends payable solely in common stock. 
  
 7.6 Mergers or Acquisitions. Merge or consolidate with or into
any other Person, acquire all or substantially all of the capital stock or assets of another Person, sell all or substantially all of the assets of the Borrower to another Person (each a “Merger Event”),or cause, permit or suffer
any material change in Borrower’s ownership (other than (i) the sale and issuance by the Borrower of its capital stock to venture capital investors or other strategic investors, provided that Borrower receives consideration consisting of either
cash or other consideration, in each case, having a fair market value equal to the fair market value of such capital stock, (ii) as otherwise permitted pursuant to Section 7.5 hereof, (iii) the sale or transfer by a stockholder of the Borrower to an
affiliate of such existing investor or the sale or transfer by a stockholder of up to ten percent (10%) of the outstanding capital stock of the Borrower, as of the date of such sale or transfer, to any third party, (iv) the sale and issuance by
Borrower of its capital stock on or after the Borrower’s initial public offering of its common stock effected pursuant to a Registration Statement on Form S-1 (or its successor) filed under the Securities Act of 1933, as amended (an
“IPO”) or (v) the sale or transfer by a stockholder of capital stock of the Borrower to a third party occurring after the IPO) without the prior written consent of Lender; or engage in any business other than the business currently
engaged in by Borrower or reasonably related thereto. For purposes of this Section 7.6, the term “fair market value” shall mean the publicly traded share price of the Borrower’s Common Stock if there is a public market for the
Borrower’s Common Stock or if there is no public market for the Borrower’s Common Stock, then “fair market value” shall be determined by the Company’s Board of Directors in their good faith judgment. 
  
 7.7 Transactions With Affiliates. Enter into any contractual
obligation with any Affiliate or engage in any other transaction with any Affiliate except upon terms at least as favorable to Borrower as an arms-length transaction with Persons who are not Affiliates of Borrower. 
  
 7.8 Indebtedness Payments. Repay any notes to officers,
directors or shareholders, prior to all Obligations to Lender being fully satisfied, provided that this Section 7.8 shall not prohibit any holder of a convertible note from converting such convertible note into capital stock of the Borrower or from
repaying any such note from the net proceeds of the sale and issuance of capital stock of the Borrower. 
  
  

 21 

 8. Events of Default. Any one or more of the following events shall constitute an Event of Default by
Borrower under this Agreement: 
  
 8.1 If Borrower fails to
pay when due and payable or when declared due and payable in accordance with the Loan Documents: (i) any Scheduled Payment on the relevant Payment Date or any Final Payment on the relevant Maturity Date that is not paid within three (3) Business
Days of when due, or (ii) any other portion of the Obligations within five (5) Business Days after receipt of written notice from Lender that such payment is due. 
  
 8.2 If Borrower fails to perform any obligation under Sections 6.9 and 6.10 or violates any of the covenants contained
in Section 7 of this Agreement. 
  
 8.3 If Borrower fails
or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement (other than as set forth in Sections 8.1, 8.2 or 8.4 through 8.12), in any of the other Loan Documents and
Borrower has failed to cure such default within fifteen (15) days of Borrower receiving notice of, or of having actual knowledge of, the occurrence of such default and such default is curable within a fifteen (15) day period, then Borrower shall
have an additional fifteen (15) days to cure such default. 
  
 8.4 If there occurs a material adverse change in Borrower’s business, or if there is a material impairment of the prospect of repayment of any portion of the Obligations owing to Lender or a material impairment of the value or priority
of Lender’s security interest in the Collateral. 
  
 8.5 If any material portion of Borrower’s assets is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver or Person acting in a similar capacity and such
attachment, seizure, writ or distress warrant or levy has not been removed, discharged or rescinded within ten (10) days, or if Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material
part of its business affairs, or if a judgment or other claim becomes a lien or encumbrance upon any material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any of Borrower’s
assets by the United States Government, or any department, agency, or instrumentality thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within ten (10) days after Borrower receives notice thereof, provided
that none of the foregoing shall constitute an Event of Default where such action or event is stayed or an adequate bond has been posted pending a good faith contesting by Borrower. 
  
 8.6 Defaults shall exist under any agreements with any third party or parties which consists of the failure to pay any
Indebtedness at maturity or which results in a right by such third party or parties, whether or not exercised, to accelerate the maturity of Indebtedness of Borrower in an aggregate amount in excess of Two Hundred Thousand Dollars ($200,000) or a
default shall exist under any financing agreement (other than this Agreement) with Lender or any of Lender’s Affiliates. 
  

 22 

 8.7 If a judgment or judgments for the payment of money in an amount, individually or in the
aggregate, of at least Fifty Thousand Dollars ($50,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of thirty (30) days. 
  
 8.8 Any representation or warranty made herein or on the Funding Date by Borrower in any Operative Document, or any
certificate or financial statement furnished pursuant to the provisions of any Operative Document, shall prove to have been false or misleading in any material respect as of the time made or furnished. 
  
 8.9 If Borrower shall breach any material term of the Warrant which
has not been cured within any applicable grace periods. 
  
 8.10 If any Loan Document shall in any material respect cease to be, or Borrower shall assert that any Loan Document is not, a legal, valid and binding obligation of Borrower enforceable in accordance with its terms. 
  
 8.11 If a proceeding shall have been instituted in a court having
jurisdiction in the premises seeking a decree or order for relief in respect of Borrower in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or for the appointment of a receiver,
liquidator, assignee, custodian, trustee (or similar official) of Borrower or for any substantial part of its property, or for the winding-up or liquidation of its affairs, and such proceeding shall remain undismissed or unstayed and in effect for a
period of thirty (30) consecutive days or such court shall enter a decree or order granting the relief sought in such proceeding. 
  
 8.12 If Borrower shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, shall
consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian (or other similar official) of Borrower or for
any substantial part of its property, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due, or shall take any corporate action in furtherance of any of the foregoing.

  
 9. Lender’s Rights and Remedies. 
  
 9.1 Rights and Remedies. Upon the occurrence and during the
continuance of any Default or Event of Default, Lender shall not have any further obligation to advance money or extend credit to or for the benefit of Borrower. In addition, upon the occurrence and during the continuance of an Event of Default,
Lender shall have the rights, options, duties and remedies of a secured party as permitted by law and, in addition to and without limitation of the foregoing, Lender may, without notice of election and without demand, do any one or more of the
following, all of which are authorized by Borrower: 
  
 (a) Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, including (i) all accrued and unpaid Scheduled Payments with respect to each Loan, (ii) the Stipulated Loan Value with
respect to each Loan, and (iii) all other sums, if any, that shall have become due and payable hereunder, immediately due and payable (provided that upon the occurrence of an Event of Default described in 

  

 23 

 
Section 8.11 or 8.12 all Obligations shall become immediately due and payable without any action by Lender); 
  
 (b) Make such payments and do such acts as Lender considers necessary
or reasonable to protect its security interest in the Collateral. Borrower agrees to assemble the Collateral if Lender so requires, and to make the Collateral available to Lender as Lender may designate. Borrower authorizes Lender to enter the
premises where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any Lien which in Lender’s determination appears to be prior or superior to its
security interest in and to the Collateral and to pay all expenses incurred in connection therewith. With respect to any of Borrower’s owned premises, Borrower hereby grants Lender a license to enter into possession of such premises and to
occupy the same, without charge, for up to one hundred twenty (120) days in order to exercise any of Lender’s rights or remedies provided herein, at law, in equity, or otherwise; 
  
 (c) Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the
manner provided for herein) the Collateral; 
  
 (d) Sell
the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms, in such manner and at such places (including Borrower’s premises) as Lender determines are commercially
reasonable; 
  
 (e) Lender may credit bid and purchase at
any public sale; and 
  
 (f) Any deficiency that exists
after disposition of the Collateral as provided above will be paid immediately by Borrower. 
  
 9.2 Set Off Right. During the occurrence and continuance of an Event of Default arising out of Borrower’s failure to comply with Section
8.1, Lender may set off and apply to the Obligations any and all indebtedness at any time owing to or for the credit or the account of Borrower. 
  
 9.3 Effect of Sale. Any sale, whether under any power of sale hereby given or by virtue of judicial proceedings, shall operate to divest all
right, title, interest, claim and demand whatsoever, either at law or in equity, of Borrower in and to the Property sold, and shall be a perpetual bar, both at law and in equity, against Borrower, its successors and assigns, and against any and all
Persons claiming the Property sold or any part thereof under, by or through Borrower, its successors or assigns. 
  
 9.4 Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Lender (which appointment is coupled with an
interest), the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name to file any notices of security interests, financing statements and continuations and amendments thereof pursuant to the Uniform
Commercial Code or federal law, as may be necessary to perfect, or to continue the perfection of Lender’s security interests in the Collateral. Borrower does hereby irrevocably appoint Lender (which appointment is coupled with an interest) on
the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, 

  

 24 

 
receive, receipt for, sue for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in
which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if such Lender were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items
of Collateral (including checks, drafts and other orders for the payment of money) that come into such Lender’s possession or under such Lender’s control, (c) to make all demands, consents and waivers, or take any other action with respect
to, the Collateral, (d) in such Lender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Lender may reasonably deem necessary or appropriate to protect
and preserve Lender’s right, title and interest in and to the Collateral, or (e) to otherwise act with respect thereto as though Lender, were the outright owner of the Collateral. 
  
 9.5 Lender’s Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due
to third persons or entities, as required under the terms of this Agreement, then Lender may do any or all of the following: (a) make payment of the same or any part thereof; or (b) obtain and maintain insurance policies of the type discussed in
Section 6.9 of this Agreement, and take any action with respect to such policies as Lender deems prudent. Any amounts paid or deposited by Lender shall constitute Lender’s Expenses, shall be immediately due and payable, and shall bear interest
at the then applicable rate hereinabove provided, and shall be secured by the Collateral. Any payments made by Lender shall not constitute an agreement by Lender to make similar payments in the future or a waiver by Lender of any Event of Default
under this Agreement. 
  
 9.6 Remedies Cumulative.
Lender’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall be cumulative. Lender shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No
exercise by Lender of one right or remedy shall be deemed an election, and no waiver by Lender of any Event of Default on Borrower’s part shall be deemed a continuing waiver. No delay by Lender shall constitute a waiver, election, or
acquiescence by it. 
  
 9.7 Application of Collateral
Proceeds. The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Lender at the time of or received by Lender, after, the
occurrence of an Event of Default hereunder) shall be paid to and applied as follows: 
  
 (a) First, to the payment of out-of-pocket costs and expenses, including all amounts expended to preserve the value of the Collateral, of
foreclosure or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses, liability and advances, including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by
Lender, including without limitation, Lender’s Expenses; 
  
 (b) Second, to the payment to Lender of the amount then owing or unpaid on the Loans for Scheduled Payments, any accrued and unpaid interest, the Stipulated Loan Value of the applicable Loan Amount, and all other Obligations with respect to
all Loans, provided, however, that if such proceeds shall be insufficient to pay in full the whole amount so due, owing or unpaid upon the Loans, then to the unpaid interest thereon, then to unpaid 

  

 25 

 
principal thereof, then to the Stipulated Loan Value of the Loan Amount with respect to all Loans, and then to the payment of other amounts then payable to Lender
under any of the Loan Documents; and 
  
 (c) Third, to the
payment of the surplus, if any, to Borrower, its successors and assigns, or to whomsoever may be lawfully entitled to receive the same. 
  
 9.8 Reinstatement of Rights. If Lender shall have proceeded to enforce any right under this Agreement or any other Loan Document by
foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then and in every such case (unless otherwise ordered by a court of competent
jurisdiction), Lender shall be restored to its former position and rights hereunder with respect to the Property subject to the security interest created under this Agreement. 
  
 10. Waivers; Indemnification. 
  
 10.1 Demand; Protest. Except as otherwise provided herein, Borrower waives demand, protest, notice of protest, notice of default or dishonor,
notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees at any time held by Lender on which Borrower
may in any way be liable. 
  
 10.2 Lender’s
Liability for Collateral. So long as Lender complies with its obligations, if any, under the Code, Lender shall not in any way or manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto
occurring or arising in any manner or fashion from any cause other than Lender’s gross negligence or willful misconduct; (c) any diminution in the value thereof; or (d) any act or default of any carrier, warehouseman, bailee, forwarding agency,
or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. 
  
 10.3 Indemnification and Waiver. Whether or not the transactions contemplated hereby shall be consummated: 
  
 (a) General Indemnity. Borrower agrees upon demand to pay or
reimburse Lender for all liabilities, obligations and out-of-pocket expenses, including reasonable fees and expenses of counsel for Lender, from time to time arising in connection with the enforcement or collection of sums due under the Loan
Documents, and in connection with any amendment or modification of the Loan Documents or any “work-out” in connection with the Loan Documents. Borrower shall indemnify, reimburse and hold Lender and its successors, assigns (other than
successors and assigns of interests in Collateral where such interests are transferred to such successors and assigns through a foreclosure sale of the Collateral pursuant to Lender’s rights under Section 9.1 hereof), agents, attorneys,
officers, directors, shareholders, servants, and employees harmless from and against all liabilities, losses, damages, actions, suits, demands, claims of any kind and nature (including claims relating to environmental discharge, cleanup or
compliance), all costs and expenses whatsoever to the extent they may be incurred or suffered by such indemnified party in connection therewith (including reasonable attorneys’ fees and expenses), fines, penalties (and other charges of
applicable governmental authorities), 

  

 26 

 
licensing fees relating to any item of Collateral, damage to or loss of use of property (including consequential or special damages to third parties or damages to
Borrower’s property), or bodily injury to or death of any person (including any agent or employee of Borrower) (each, a “Claim”), directly or indirectly relating to or arising out of the use of the proceeds of the Loans or
otherwise, the falsity of any representation or warranty of Borrower or Borrower’s failure to comply with the terms of this Agreement or any other Loan Document during the Term. The foregoing indemnity shall cover, without limitation, (i) any
Claim in connection with a design or other defect (latent or patent) in any item of equipment included in the Collateral, (ii) any Claim for infringement of any patent, copyright, trademark or other intellectual property right, (iii) any Claim
resulting from the presence on or under or the escape, seepage, leakage, spillage, discharge, emission or release of any Hazardous Materials on the premises of Borrower, including any Claims asserted or arising under any Environmental Law, or (iv)
any Claim for negligence or strict or absolute liability in tort; provided, however, that Borrower shall not indemnify Lender for any liability incurred by Lender as a direct and sole result of Lender’s gross negligence or willful
misconduct. Such indemnities shall continue in full force and effect, notwithstanding the expiration or termination of this Agreement. Upon Lender’s written demand, Borrower shall assume and diligently conduct, at its sole cost and expense, the
entire defense of Lender and its agents, employees, directors, officers, shareholders, successors and assigns against any indemnified Claim described in this Section 10.3. Borrower shall not settle or compromise any Claim against or involving
Lender without first obtaining Lender’s written consent thereto, which consent shall not be unreasonably withheld. 
  
 (b) Waivers. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT OR ANYWHERE ELSE, BORROWER AGREES THAT IT SHALL NOT SEEK
FROM LENDER UNDER ANY THEORY OF LIABILITY (INCLUDING ANY THEORY IN TORTS), ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES. 
  
 (c) Survival; Defense. The obligations in this Section 10.3 shall survive payment of all other Obligations pursuant to Section 12.8 of this
Agreement. At the election of any Indemnified Person, Borrower shall defend such Indemnified Person using legal counsel satisfactory to such Indemnified Person in such Person’s reasonable discretion, at the sole cost and expense of Borrower.
All amounts owing under this Section 10.3 shall be paid within thirty (30) days after written demand. 
  
 11. Notices. 
  
 (a) Unless otherwise provided in this Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into
in connection herewith shall be in writing and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally delivered or sent by certified mail, postage prepaid,
return receipt requested, or by facsimile (provided that Lender shall use its best efforts to follow up such facsimile with a telephone notification, provided further, that the failure to provide such telephone notification shall not be deemed to be
a waiver of any notice sent via facsimile), or by overnight courier to Borrower or to Lender, as the case may be, at their respective addresses set forth below: 
  

 27 

	 If to Borrower:
	  	 Renovis, Inc.
 270 Littlefield Avenue
 South San Francisco, CA 94080
 Attention: Dr. Lynne Zydowsky
 Fax: (510) 601-5201
 PH: (510) 601-5011

		
	 If to Lender:
	  	 GATX Ventures, Inc.
 3687 Mount Diablo Blvd., Suite
200
 Lafayette, CA 94549
 Attention: Contract Administration
 Fax: (925) 258-6020
 PH: (925) 258-6000

		
	 	  	 With a copy to:

		
	 	  	 GATX Ventures, Inc.
 16 Munson Road
 Farmington, CT 06032
 Attention: Contract Administration
 Fax: (860) 284-4350
 PH: (860) 284-4350

  
 The parties
hereto may change the address at which they are to receive notices hereunder, by notice in writing in the foregoing manner given to the other. 
  
 (b) Payments. Unless Lender specifies otherwise in writing, all payments shall be made by wire transfer to: 
  
 All payments to GATX shall be made to: 
  

	 c/o GATX Capital Corporation
	 	 
	 Bank Name:
 Bank Address:
 Account No.:
 ABA Routing No.:
 Reference:
	 	 Bank of America
 Dallas, Texas 75202-2911
 3750878673
 111000012
 Renovis, Inc.

  
 12. General Provisions.

  
 12.1 Successors and Assigns. This Agreement
shall bind and inure to the benefit of the respective successors and permitted assigns of each of the parties; provided, 

  

 28 

 
however, that neither this Agreement nor any rights hereunder may be assigned by Borrower without Lender’s prior written consent, which consent may be granted or
withheld in Lender’s sole discretion. Lender shall have the right without the consent of or notice to Borrower to sell, transfer, negotiate, or grant participation’s in all or any part of, or any interest in Lender’s rights and
benefits hereunder, except that Lender may not assign its interests to a direct competitor of Borrower. Notwithstanding the foregoing, banks, finance companies, insurance companies, financial entities and after the occurrence and during the
continuance of an Event of Default, any Person, shall not be deemed to be a “direct competitor” for purposes of this Section 12.1. 
  
 12.2 Time of Essence. Time is of the essence for the performance of all obligations set forth in this Agreement. 
  
 12.3 Severability of Provisions. Each provision of this
Agreement shall be several from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 
  
 12.4 Entire Agreement, Construction, Amendments and Waivers. 
  
 (a) This Agreement is the result of negotiations between and has been reviewed by each of Borrower and Lender
executing this Agreement as of the date hereof and their respective counsel; accordingly, this Agreement shall be deemed to be the product of the parties hereto, and no ambiguity shall be construed in favor of or against Borrower or Lender. Borrower
and Lender agree that they intend the literal words of this Agreement and the other Loan Documents and that no parol evidence shall be necessary or appropriate to establish Borrower’s or Lender’s actual intentions. 
  
 (b) Any and all amendments, modifications, discharges or waivers of,
or consents to any departures from any provision of this Agreement or of any of the other Loan Documents shall not be effective without the written consent of Lender and Borrower. Notwithstanding the foregoing, in all cases, any material change of
maturity dates, any interest rate reduction, or any release of any Collateral or any guarantor, or any forbearances or waiver of rights under the Loan Documents shall require the written consent of Lender. Any waiver or consent with respect to any
provision of the Loan Documents shall be effective only in the specific instance and for the specific purpose for which it was given. No notice to or demand on Borrower in any case shall entitle Borrower to any other or further notice or demand in
similar or other circumstances. Any amendment, modification, waiver or consent effected in accordance with this Section 12.4 shall be binding upon Lender, on Borrower, and on their respective successors and assigns. 
  
 12.5 Reliance by Lender. All covenants, agreements,
representations and warranties made herein by Borrower shall be deemed to be material to and to have been relied upon by Lender, notwithstanding any investigation by Lender. 
  
 12.6 No Set-Offs by Borrower. All sums payable by Borrower pursuant to this Agreement or any of the other Loan
Documents shall be payable without notice or demand and shall be payable in United States Dollars without set-off or reduction of any manner whatsoever. 
  

 29 

 12.7 Counterparts. This Agreement may be executed in any number of counterparts and by
different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. 
  
 12.8 Survival. All covenants, representations and warranties
made in this Agreement shall continue in full force and effect so long as any Obligations remain outstanding. The obligations of Borrower to indemnify Lender with respect to the expenses, damages, losses, costs and liabilities described in Section
10.3 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Lender have run. 
  
 12.9 Integration. This Agreement and the Loan Documents constitute the entire agreement between the Lender, on the one hand, and the
Borrower, on the other, and supercede any prior written or oral agreements or understandings of the parties. Borrower acknowledges that it is not relying on any representation or agreement made by Lender or any employee or attorney of Lender, other
than the specific agreements set forth in this Agreement and the Loan Documents. 
  
 13. Relationship of Parties. Borrower and Lender acknowledge, understand and agree that the relationship between the Borrower, on the one hand, and Lender, on the other, is, and at all time shall remain solely that of a borrower and
a lender. Lender shall not under any circumstances be construed to be a partner or joint venturer of Borrower or any of its Affiliates; nor shall Lender under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary
relationship with Borrower or any of its Affiliates, or to owe any fiduciary duty to Borrower or any of its Affiliates. Lender shall neither undertake nor assume any responsibility or duty to Borrower or any of its Affiliates to select, review,
inspect, supervise, pass judgment upon or otherwise inform Borrower or any of its Affiliates of any matter in connection with its or their Property, any Collateral held by Lender or the operations of Borrower or any of its Affiliates. Borrower and
each of its Affiliates shall rely entirely on their own judgment with respect to such matters, and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Lender in connection with such matters is
solely for the protection of Lender and neither Borrower nor any Affiliate is entitled to rely thereon. 
  
 14. Confidentiality. 
  
 14.1 Subject to the limitations of Section 14.2, all written information marked as confidential disclosed by Borrower to Lender shall be deemed to
be “Proprietary Information.” In particular, Proprietary Information shall be deemed to include, without limitation, any trade secret, patent application (including drawings and claims), information, prices, technique, invention, idea,
process, or formula; any sample, compound, extract, media, vector and/or cell line and any procedures and formulations for producing such sample, compound, extract, media, vector and/or cell line; any data or information relating to any research
project, work in process, or future development; and any engineering, manufacturing, marketing, servicing, financing or personnel matter relating to Borrower, its present or future products, sales, suppliers, clients, customers, employees,
investors, or business, whether, written, visual, graphic or electronic form. 
  

 30 

 14.2 The term “Proprietary Information” shall not be deemed to include information that
Lender can demonstrate by competent written proof: (a) is now, or hereafter becomes, through no act or failure to act on the part of Lender, generally known or available in the public domain; (b) is known by Lender at the time of receiving such
information from Borrower as evidenced by its records; (c) is hereafter furnished to Lender by a third party, as a matter of right and without restriction on disclosure; or (d) is the subject of a written permission to disclose provided by Borrower.

  
 14.3 Lender shall maintain all Proprietary Information
disclosed by Borrower in confidence and shall not disclose any such Proprietary Information to any third party (other than Lender’s attorneys, governmental regulators, and auditors, or to Lender’s subsidiaries and affiliates, subject to
the same confidentiality obligations set forth herein). Without limiting the generality of the immediately preceding sentence, Lender may use Proprietary Information required to exercise Lender’s rights and the enforcement of its remedies and
collection under this Agreement or the Warrant. Lender may not use the Proprietary Information for any other purpose or in any manner. No rights or licenses to trademarks, inventions, copyrights, or patents are implied or granted under this
Agreement. Nothing in this Agreement grants Lender the right to retain, distribute or commercialize any Proprietary Information. Lender agrees that it will not in any way attempt to obtain, either directly or indirectly, any information regarding
the Proprietary Information from any third party (other than the Company’s investors, directors, auditors or attorneys) who has been employed by, provided consulting services to, or received in confidence information from, Borrower. 

 
 14.4 Proprietary Information shall not be reproduced or replicated
in any form except as required to accomplish the intent of this Agreement. 
  
 14.5 Lender shall advise its employees who might have access to Borrower’s Proprietary Information of the confidential nature thereof and agrees that its employees shall be bound by the terms of this Agreement. Lender
shall not disclose any Proprietary Information to employees who do not have a need for such information to accomplish the purposes of this Agreement, nor shall Lender disclose any Proprietary Information to any third party without Borrower’s
written consent. 
  
 14.6 All Proprietary Information
(including all copies thereof) shall remain at all times the property of Borrower, and shall be returned to Borrower, or destroyed by Lender (and so certified) after Lender’s need for it has expired, or upon request of Borrower, and in any
event, upon termination of this Agreement. 
  
 14.7
Notwithstanding any other provision of this Agreement, disclosure of Proprietary Information shall not be precluded if such disclosure: (a) is in response to a valid order of a court or other governmental body of the United States or any political
subdivision thereof; or (b) is otherwise required by law or regulation; provided, however, that Lender shall first have given reasonable prior notice to Borrower and shall have made a reasonable effort, or permitted Borrower to make a reasonable
effort, to obtain a protective order requiring that the Proprietary Information so disclosed be used only for the purposes for which the order was issued or for such other legal requirement. 
  

 31 

 14.8 The covenants contained in this Section 14, including all subparagraphs, shall continue in
full force and effect for so long as Lender continues to receive or possess Proprietary Information. The termination of this Agreement shall not relieve Lender of the obligations imposed by subparagraphs 14.3, 14.4, 14.5, and 14.10 of this
Agreement, and the provisions of subparagraphs 14.3, 14.4, 14.5, and 14.10 shall survive any termination of this Agreement and continue for the later of three (3) years after (i) the date of such termination, or (ii) the exercise of the Warrant.

  
 14.9 Lender hereby acknowledges and agrees that in the
event of any breach of this Section 14, including all subparagraphs, including, without limitation, the actual or threatened disclosure of Proprietary Information without the prior express written consent of Borrower, Borrower will suffer an
irreparable injury, such that no remedy at law will afford it adequate protection against, or appropriate compensation for, such injury. Accordingly, Lender hereby agrees that the Borrower may be entitled to specific performance of Lender’s
obligations under this Agreement, as well as such further injunctive relief as may be granted by a court of competent jurisdiction. 
  
 14.10 The Lender’s and Borrower’s rights and obligations under this Section 14, including all subparagraphs will bind and inure to the
benefit of their respective successors, heirs, executors and administrators and permitted assigns. 
  
 15. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER.THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF BORROWER AND LENDER HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE NORTHERN DISTRICT OF CALIFORNIA. BORROWER AND LENDER HEREBY WAIVE
THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL
OTHER COMMON LAW OR STATUTORY CLAIMS. 
  
 [Remainder of Page Intentionally
Left Blank.] 
  

 32 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above
written. 
  

	BORROWER:
	
	 RENOVIS, INC.

		
	 By:
	 	 /s/    LYNNE
ZYDOWSKY        

	 Name:
	 	 Lynne Zydowsky

	 Title:
	 	 COO & Sr V.P., Business Development

  

	 LENDER:

	
	GATX VENTURES, INC.
		
	 By:
	 	 /s/    ROBERT D. POMEROY,
JR.        

	 Name:
	 	 Robert D. Pomeroy, Jr.

	 Title:
	 	 Senior Vice President

  

 33Warrant for the purchase of shares of Series B Preferred Stock

 Exhibit 4.7 
  

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i)
EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL
AUTHORITIES. 
  
 RENOVIS, INC. 
  
 WARRANT TO PURCHASE 38,890 SHARES 
 OF SERIES B PREFERRED STOCK 
  
 THIS CERTIFIES THAT, for value received, GATX VENTURES, INC. and its assignees are entitled to subscribe for and purchase 38,890 shares of fully paid and
nonassessable Series B Preferred Stock (as adjusted pursuant to Section 4 hereof, the “Shares”) of RENOVIS, INC., a Delaware corporation (the “Company”), at the price per share as is determined pursuant to the next paragraph
hereof (such price and such other price as shall result, from time to time, from the adjustments specified in Section 4 hereof is herein referred to as the “Warrant Price”), subject to the provisions and upon the terms and conditions
hereinafter set forth. As used herein, (a) the term “Series Preferred” shall mean the Company’s presently authorized Series B Preferred Stock, and any stock into or for which such Series B Preferred Stock may hereafter be converted or
exchanged, and after the automatic conversion of the Series B Preferred Stock to Common Stock shall mean the Company’s Common Stock, (b) the term “Date of Grant” shall mean October 10, 2001, (c) the term “Exercise Date”
shall mean the date on which this Warrant is exercised, and (d) the term “Other Warrants” shall mean any other warrants issued by the Company in connection with the transaction with respect to which this Warrant was issued, and any warrant
issued upon transfer or partial exercise of or in lieu of this Warrant. The term “Warrant” as used herein shall be deemed to include Other Warrants unless the context clearly requires otherwise. 
  
 The Warrant Price shall be the average of (i) $1.80 and (ii) the lowest
effective price per share (on a common stock equivalent basis and taking into account any securities issued together with the preferred stock) at which shares of the Company’s convertible preferred stock are sold in a Qualified Financing;
provided, however, if a Qualified Financing has not closed prior to November 30, 2001, then the Warrant Price shall be $1.80; provided, further, if the Qualified Financing has not closed prior to the exercise of this Warrant, then the
Warrant Price shall be $1.80. A “Qualified Financing” shall mean the sale of the convertible preferred stock of the Company to purchasers which include venture capital investors in an aggregate cash amount not less than $3,000,000.

  
 1. Term. The purchase right represented by this Warrant
is exercisable, in whole or in part, at any time and from time to time from the Date of Grant through the later of (i) ten (10) years after the Date of Grant or (ii) seven (7) years after the closing of the Company’s initial public offering of
its Common Stock (“IPO”) effected pursuant to a Registration Statement on Form S-1 (or its successor) filed under the Securities Act of 1933, as amended (the “Act”) (the “Term”). Upon request of the Company, the holder
of this Warrant agrees to exercise the purchase right under this Warrant (including without limitation by way of net issuance as provided in Section 10.2) 

 
contemporaneously with the closing of (a) a merger or consolidation in which the Company is not the surviving corporation, (b) the sale, lease, exchange,
conveyance or other disposition of all or substantially all of the assets of the Company or (c) the purchase by a person or group of related persons of all of the outstanding capital stock of the Company if (i) the Company receives solely cash in
consideration for such sale or merger, or (ii) (A) the acquiror in such sale or merger is publicly traded on any national securities exchange or the Nasdaq National Market and has a tangible net worth as of the end of its most recent fiscal year in
excess of $200,000,000, (B) the net proceeds per share to the holder of this Warrant upon such exercise will equal at least the product of the Warrant Price multiplied by three (3) and (C) all capital stock received as consideration for such sale or
merger are registered pursuant to a registration statement filed under the Act. The Company agrees to provide the holder of this Warrant not less than twenty (20) days’ prior written notice of the Company’s request that the holder exercise
its purchase right hereunder in accordance with the provisions of Section 13 hereof. 
  
 2. Method of Exercise; Payment; Issuance of New Warrant. Subject to Section 1 hereof, the purchase right represented by this Warrant may be exercised by the holder hereof during the Term, in whole or in part
and from time to time, at the election of the holder hereof, by (a) the surrender of this Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A-1 duly completed and executed) at the principal office of the
Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of
Shares then being purchased; (b) if in connection with a registered public offering of the Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 duly completed and executed) at the
principal office of the Company and if the “net issuance” right provided for in Section 10.2 is not exercised, by the payment to the Company, by certificated or bank check, or Wire Transfer of an amount equal to the then applicable Warrant
Price multiplied by the number of Shares then being purchased; or (c) exercise of the “net issuance” right provided for in Section 10.2 hereof. The person or persons in whose name(s) any certificate(s) representing shares of Series
Preferred shall be issuable upon exercise of this Warrant shall be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the shares represented thereby (and such shares shall be deemed to
have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is exercised, except that, if the date of such surrender and payment (or giving such “net issuance” notice) is a date when the stock
transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open. In the event of any exercise of the
rights represented by this Warrant, certificates for the shares of stock so purchased shall be delivered to the holder as soon as reasonably practicable but in any event within thirty (30) days after such exercise and, unless this Warrant has been
fully exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised shall also be issued to the holder hereof within such thirty-day period; provided,
however, at such time as the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, if requested by the holder of this Warrant, the Company shall use its reasonable efforts to cause its transfer agent to
deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the holder exercising this Warrant) within the time period required to settle any trade made by the holder after exercise of
this Warrant. 
  

 -2- 

 3. Stock Fully Paid; Reservation of Shares. All Shares that may be issued upon the exercise of the
rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issue thereof; provided, however, that holder shall
be required to pay any and all taxes based upon the net income of the holder. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the
issue upon exercise of the purchase rights evidenced by this Warrant, a sufficient number of shares of its Series Preferred to provide for the exercise of the rights represented by this Warrant and a sufficient number of shares of its Common Stock
to provide for the conversion of the Series Preferred into Common Stock. If at any time during the Exercise Period the number of authorized but unissued shares of the Series Preferred or of its Common Stock shall not be sufficient o permit exercise
of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Preferred Stock and/or of its Common Stock to such number of shares as shall be
sufficient for such purposes. 
  
 4. Adjustment of Warrant
Price and Number of Shares. The number and kind of securities purchasable upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
  
 (a) Reclassification or Merger. In case of any reclassification or
change of securities of the class issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any
merger of the Company with or into another corporation (other than a merger with another corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification or change of outstanding
securities issuable upon exercise of this Warrant), or in case of any sale of all or substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall (i) duly execute and deliver to
the holder of this Warrant a new Warrant as nearly equivalent as practicable to this Warrant (in form and substance reasonably satisfactory to the holder of this Warrant), or (ii) make appropriate provision without the issuance of a new Warrant, so
that the holder of this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Series
Preferred theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property receivable upon such reclassification, change, merger or sale by a holder of the number of shares of Series
Preferred then purchasable under this Warrant. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 4. The provisions of this subparagraph (a) shall
similarly apply to successive reclassifications, changes, mergers and transfers. 
  
 (b) Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall subdivide or combine its outstanding shares of Series Preferred, the Warrant Price
shall be proportionately decreased and the number of Shares 

  

 -3- 

 
issuable hereunder shall be proportionately increased in the case of a subdivision and the Warrant Price shall be proportionately increased and the number of
Shares issuable hereunder shall be proportionately decreased in the case of a combination. 
  
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall (i) pay a dividend with respect to Series Preferred payable in Series Preferred,
then the Warrant Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price determined by multiplying the Warrant Price in effect immediately prior to such date
of determination by a fraction (A) the numerator of which shall be the total number of shares of Series Preferred outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of
Series Preferred outstanding immediately after such dividend or distribution; or (ii) prior to the occurrence of an IPO, make any other distribution with respect to Series Preferred (except any distribution specifically provided for in Sections 4(a)
and 4(b)), then, in each such case, provision shall be made by the Company such that the holder of this Warrant shall receive upon exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of
the Series Preferred (or Common Stock issuable upon conversion thereof) as of the record date fixed for the determination of the shareholders of the Company entitled to receive such dividend or distribution. 
  
 (d) Adjustment of Number of Shares. Upon each adjustment in the
Warrant Price, the number of Shares of Series Preferred purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant
Price by a fraction, the numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 
  
 (e) Antidilution Rights. The other antidilution rights applicable to the Shares of Series Preferred purchasable
hereunder are set forth in the Company’s Certificate of Incorporation, as amended through the Date of Grant, a true and complete copy of which is attached hereto as Exhibit B (the “Charter”). Such antidilution rights shall not be
restated, amended, modified or waived in any manner without holder’s prior written consent if the effect of such restatement, amendment, modification or waiver on the holder hereof would be more adverse to the holder hereof than, and
substantially dissimilar to, its effect on the other holders of the Company’s Series Preferred. The Company shall promptly provide the holder hereof with any restatement, amendment, modification or waiver of the Charter promptly after the same
has been made. 
  
 (f) No Duplicate Adjustments.
Notwithstanding anything else to the contrary contained herein, in no event will an adjustment be made under the provisions of this Section 4 to the number of Shares issuable upon exercise of this Warrant or the Warrant Price for any event if a
corresponding adjustment having substantially the same effect to the holder as any adjustment that otherwise would be made under the provisions of this Section 4 is made by the Company for any such event pursuant to the antidilution provisions of
the Company’s Charter. 
  
 5. Notice of Adjustments.
Whenever the Warrant Price or the number of Shares purchasable hereunder shall be adjusted pursuant to Section 4 hereof, the Company shall make a 

  

 -4- 

 
certificate signed by its chief financial officer or other officer designated by the Company setting forth, in reasonable detail, the event requiring the
adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the Warrant Price and the number of Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to
be mailed (without regard to Section 13 hereof, by first class mail, postage prepaid) to the holder of this Warrant. In addition, whenever the conversion price or conversion ratio of the Series Preferred shall be adjusted, the Company shall make a
certificate signed by its chief financial officer or other officer designated by the Company setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated,
and the conversion price or ratio of the Series Preferred after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class mail, postage prepaid) to the holder of
this Warrant. 
  
 6. Fractional Shares. No fractional
shares of Series Preferred will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Series Preferred on the date of exercise
as reasonably determined in good faith by the Company’s Board of Directors. 
  
 7. Compliance with Act; Disposition of Warrant or Shares of Series Preferred. 
  
 (a) Compliance with Act. The holder of this Warrant, by acceptance hereof, agrees that this Warrant, and the shares of Series Preferred to be
issued upon exercise hereof and any Common Stock issued upon conversion thereof are being acquired for investment and that such holder does not currently intend to and will not offer, sell or otherwise dispose of this Warrant, or any shares of
Series Preferred to be issued upon exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Act or any applicable state securities laws. Upon exercise of this Warrant,
unless the Shares being acquired are registered under the Act and any applicable state securities laws or an exemption from such registration is available, the holder hereof shall confirm in writing that the shares of Series Preferred so purchased
(and any shares of Common Stock issued upon conversion thereof) are being acquired for investment and not with a view toward distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably
requested by the Company. This Warrant and all shares of Series Preferred issued upon exercise of this Warrant and all shares of Common Stock issued upon conversion thereof (unless registered under the Act and any applicable state securities laws)
shall be stamped or imprinted with any legends that may be reasonably required under state or federal law or deemed appropriate by counsel to the Company, including but not limited to a legend in substantially the following form: 
  
 “THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH
REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES.” 
  

 -5- 

 Said legend shall be removed by the Company, upon the request of a holder, at such time as the
restrictions on the transfer of the applicable security shall have terminated, and any other requirements or restrictions stated therein no longer apply. In addition, in connection with the issuance of this Warrant, the holder specifically
represents and warrants to the Company by acceptance of this Warrant as follows: 
  
 (1) The holder is aware of the Company’s business affairs and financial condition, and has acquired information about the Company sufficient to reach an informed and knowledgeable decision to acquire this
Warrant. To holder’s knowledge, the Company has provided holder with all information requested by holder regarding the Company. The holder is acquiring this Warrant for its own account for investment purposes only and not with a view to, or for
the resale in connection with, any “distribution” thereof in violation of the Act. The holder also represents that the entire legal and beneficial interests of the Warrant and Shares the holder is acquiring is being acquired for, and will
be held for, its account only. 
  
 (2) The holder understands
that this Warrant has not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the holder’s investment intent, and holder’s other
representations and warranties, as expressed herein. 
  
 (3) The
holder further understands that this Warrant must be held indefinitely unless subsequently registered under the Act and qualified under any applicable state securities laws, or unless exemptions from registration and qualification are otherwise
available. The holder is aware of the provisions of Rule 144, promulgated under the Act. Holder is aware that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company presently has no plans to satisfy these
conditions in the forseeable future. 
  
 (4) The holder is an
“accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under the Act. 
  
 (b) Disposition of Warrant or Shares. With respect to any offer, sale or other disposition of this Warrant or any shares of Series Preferred
acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or shares, the holder hereof agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with a written opinion
of such holder’s counsel, or other evidence, if reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any
federal or state securities law then in effect) of this Warrant or such shares of Series Preferred or Common Stock and indicating whether or not under the Act certificates for this Warrant or such shares of Series Preferred to be sold or otherwise
disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion or other evidence, the Company, as
promptly as practicable but no later than twenty (20) days after receipt of the written notice, shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such shares of Series Preferred or Common Stock, all in
accordance with the terms of the notice delivered to the Company. If a determination has been made pursuant to this Section 7(b) that the opinion of counsel for the holder or other evidence is not reasonably satisfactory 

  

 -6- 

 
to the Company, the Company shall so notify the holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing,
this Warrant or such shares of Series Preferred or Common Stock may, as to such federal laws, be offered, sold or otherwise disposed of in accordance with Rule 144 or 144A under the Act, provided that the Company shall have been furnished with such
information, including an opinion of counsel, as the Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 or 144A have been satisfied. Each certificate representing this Warrant or the shares of Series
Preferred thus transferred (except a transfer pursuant to Rule 144) shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws, unless in the aforesaid opinion of counsel for the holder,
such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions. 
  
 (c) Applicability of Restrictions. Subject to compliance with applicable federal and state securities laws, neither
any restrictions of any legend described in this Warrant nor the requirements of Section 7(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the Series Preferred or Common Stock obtainable upon exercise
thereof) or any part hereof (i) to a partner of the holder if the holder is a partnership or to a member of the holder if the holder is a limited liability company, (ii) to a partnership of which the holder is a partner or to a limited liability
company of which the holder is a member, or (iii) to any affiliate of the holder if the holder is a corporation; provided, however, in any such transfer, if applicable, the transferee shall on the Company’s request agree in
writing to be bound by the terms of this Warrant as if an original holder hereof. 
  
 8. Rights as Shareholders; Information. No holder of this Warrant, as such, shall be entitled to vote or receive dividends or be deemed the holder of Series Preferred or any other securities of the Company
which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, any of the rights of a shareholder of the Company or any right to vote for
the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until this Warrant shall have been exercised and the Shares
purchasable upon the exercise hereof shall have become deliverable, as provided herein. Notwithstanding the foregoing, the Company will use commercially reasonable efforts to transmit to the holder of this Warrant such information, documents and
reports as are generally distributed to the holders of the Series Preferred (in their role as holders of the Series Preferred, excluding, by way of example, information, documents and reports distributed to the holders of the Series Preferred in
their role as officer or director of the Company) concurrently with the distribution thereof to the Series Preferred shareholders. In addition, as a condition to the exercise of this Warrant, if all stockholders of the Series Preferred have entered
into an agreement restricting the rights of such stockholders to transfer their Series Preferred, then the holder shall enter into the same such agreement or into an agreement containing the same restrictions as those agreed to by all such
stockholders, provided that the holder shall not be required to enter into such agreement or any similar agreement after the closing of the Company’s IPO. 
  

9. Registration Rights. The Company grants registration rights to the holder of this Warrant for any Common Stock of the Company obtained upon
conversion of the Series Preferred, 

  

 -7- 

 
as set forth in that certain Investor Rights Agreement dated as of July 17, 2000, (as amended from time to time, the “Registration Rights
Agreement”), with the following exceptions and clarifications: 
  
 (1) The holder will have no demand registration rights. 
  
 (2) The holder will be subject to the same provisions regarding indemnification as contained in the Registration Rights Agreement. 
  
 (3) The registration rights are assignable by the holder of this Warrant in connection with a permitted transfer of this Warrant or the Shares.

  
 10. Additional Rights. 
  
 10.1 Acquisition and Financing Transactions. The Company shall
provide the holder of this Warrant with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of any of the following transactions (to the extent the Company has notice thereof): (i) the sale, lease,
exchange, conveyance or other disposition of all or substantially all of the Company’s property or business, or (ii) the Company’s merger into or consolidation with any other corporation (other than a wholly-owned subsidiary of the
Company), or any transaction (including a merger or other reorganization) or series of related transactions, in which more than 50% of the voting power of the Company is disposed of. 
  
 10.2. Right to Convert Warrant into Stock: Net Issuance. 
  
 (a) Right to Convert. In addition to and without limiting the rights
of the holder under the terms of this Warrant, if the fair market value of one share of the Series Preferred is greater than the Warrant Price (at the date of calculation as set forth below) the holder shall have the right to convert this Warrant or
any portion thereof (the “Conversion Right”) into shares of Series Preferred (or Common Stock if the Series Preferred has been automatically converted into Common Stock) as provided in this Section 10.2 at any time or from time to time
during the term. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder (without payment by the holder of any
exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Series Preferred (or Common Stock if the Series Preferred has been automatically converted into Common Stock) as is determined according to the
following formula: 
  

	         X =
	 	   Y(A-B)

	 	 	       A

  

	         Where:
	 	X =	    	the number of shares of Series Preferred to be issued to holder under this Section 10.2
			
	 	 	Y =	    	the number of shares of Series Preferred purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being converted (at the
date of such calculation)

  

 -8- 

		
	 A =
	    	the fair market value of one share of Series Preferred (at the date of such calculation)
		
	 B =
	    	the Warrant Price (as adjusted to the date of such calculation)

  
 No fractional shares
shall be issuable upon exercise of the Conversion Right, and, if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder an amount in cash equal to the
fair market value of the resulting fractional share on the Conversion Date (as hereinafter defined). For purposes of Section 10.2 of this Warrant, shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the
exercise of this Warrant. 
  
 (b) Method of Exercise. The
Conversion Right may be exercised by the holder by the surrender of this Warrant at the principal office of the Company together with a written statement (which may be in the form of Exhibit A-1 or Exhibit A-2 hereto) specifying that the holder
thereby intends to exercise the Conversion Right and indicating the number of shares subject to this Warrant which are being surrendered (referred to in Section 10.2(a) hereof as the Converted Warrant Shares) in exercise of the Conversion Right.
Such conversion shall be effective upon receipt by the Company of this Warrant together with the aforesaid written statement, or on such later date as is specified therein (the “Conversion Date”), and, at the election of the holder hereof,
may be made contingent upon the closing of the sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration Statement under the Act (a “Public Offering”). Certificates for the shares issuable upon
exercise of the Conversion Right and, if applicable, a new warrant evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the holder within thirty (30) days
following the Conversion Date. 
  
 (c) Determination of Fair
Market Value. For purposes of this Section 10.2, “fair market value” of the share of Series Preferred (or Common Stock if the Series Preferred has been automatically converted into Common Stock) as of a particular date (the
“Determination Date”) shall mean: 
  
 (i) If the
Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s Registration Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the
Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering. 
  
 (ii) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering, then as follows: 
  
 (A) If traded on a securities exchange, the fair market value of the Common
Stock shall be deemed to be the average of the closing prices of the Common Stock on such exchange over the five trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such
fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; 
  

 -9- 

 (B) If traded on the Nasdaq Stock Market or other over-the-counter system, the fair market value of the
Common Stock shall be deemed to be the average of the closing bid prices of the Common Stock over the five trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair
market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; and 
  
 (C) If there is no public market for the Common Stock, then fair market value shall be determined by the Board of Directors of the Company in their good
faith judgment. 
  
 In making a determination under clauses (A) or (B) above, if
on the the Determination Date, five trading days had not passed since the IPO, then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the shorter period beginning on and including
the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading day). If closing prices or closing bid prices
are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on the applicable
trading day. 
  
 10.3 Exercise Prior to Expiration. To the
extent this Warrant is not previously exercised as to all of the Shares subject hereto, and if the fair market value of one share of the Series Preferred is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically
exercised pursuant to Section 10.2 above (even if not surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Series Preferred upon such expiration shall be determined
pursuant to Section 10.2(c). To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 10.3, the Company agrees to promptly notify the holder hereof of the number of Shares, if any, the holder
hereof is to receive by reason of such automatic exercise. 
  
 10.4 Market Stand-Off Agreement. Holder shall not sell, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Common
Stock (or other securities) of the Company held by such holder (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one
hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Act; provided that: 
  
 (a) such agreement shall apply only to the Company’s first firm commitment underwritten public offering of its Common Stock registered under the Act;
and 
  
 (b) all officers and directors of the Company and holders
of at least five percent (5%) of the Company’s voting securities enter into similar agreements. 
  
 Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the
foregoing or which are necessary to 

  

 -10- 

 
give further effect thereto. The obligations described in this Section 10.4 shall not apply to a registration relating solely to employee benefit plans on
Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose
stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred eighty (180) day period. The underwriters of the Company’s stock are intended
third party beneficiaries of this Section 10.4 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 
  
 11. Representations and Warranties. The Company represents and warrants to the holder of this Warrant as follows:

  
 (a) This Warrant has been duly authorized and executed by the
Company and is a valid and binding obligation of the Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity
governing specific performance, injunctive relief and other equitable remedies; 
  
 (b) The Shares have been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid and non-assessable; 
  
 (c) The rights, preferences, privileges and restrictions granted to or
imposed upon the Series Preferred and the holders thereof are as set forth in the Charter, and on the Date of Grant, each share of the Series Preferred represented by this Warrant is convertible into one share of Common Stock; 
  
 (d) The shares of Common Stock issuable upon conversion of the Shares have
been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms of the Charter will be validly issued, fully paid and nonassessable; 
  
 (e) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in
accordance with the terms hereof will not be, inconsistent with the Company’s Charter or by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the Company, and do not and will not
conflict with or contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice
to, the registration or filing with or the taking of any action in respect of or by, any Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which
filings will be effected by the time required thereby; 
  
 (f)
There are no actions, suits, audits, investigations or proceedings pending or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined,
will have a material adverse effect on the ability of the Company to perform its obligations under this Warrant; and 
  

 -11- 

 (g) The number of shares of Common Stock of the Company outstanding on the date hereof, on a fully
diluted basis (assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants), does not exceed 15,298,895 shares. 
  
 12. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against which enforcement of the same is sought. 
  
 13. Notices. Any notice, request, communication or other document required or permitted to be given or delivered to the holder hereof or the
Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, to each such holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of this
Warrant. 
  
 14. Binding Effect on Successors. This Warrant
shall be binding upon any corporation succeeding the Company by merger, consolidation or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Series Preferred issuable upon
the exercise or conversion of this Warrant shall survive the exercise, conversion and termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the holder hereof.

  
 15. Lost Warrants or Stock Certificates. The Company
covenants to the holder hereof that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock certificate and, in the case of any such loss, theft or destruction, upon
receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the Company will make and deliver a new Warrant or stock certificate, of like
tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 
  
 16. Descriptive Headings. The descriptive headings of the several paragraphs of this Warrant are inserted for convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be
construed as to its fair meaning without regard to which party drafted this Warrant. 
  
 17. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the State of California. 
  
 18. Survival of Representations, Warranties and Agreements. All
representations and warranties of the Company and the holder hereof contained herein shall survive the Date of Grant, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration of rights hereunder. All
agreements of the Company and the holder hereof contained herein shall survive indefinitely until, by their respective terms, they are no longer operative. 
  

 -12- 

 19. Remedies. In case any one or more of the covenants and agreements contained in this Warrant
shall have been breached, the holders hereof (in the case of a breach by the Company), or the Company (in the case of a breach by a holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action at law,
including, but not limited to, an action for damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. The person or entity alleging such breach shall give the
breaching party written notice of such breach and a reasonable opportunity to cure the alleged breach, which cure period shall not extend beyond fifteen (15) days, except that there shall be no cure period with respect to the following provisions of
this Warrant: (i) the failure to comply with the last sentence of Section 1 of this Warrant, (ii) the failure to deliver pursuant to Section 2 of this Warrant, certificates for the shares of stock purchased as a result of the exercise or conversion
of this Warrant, (iii) the failure to comply with the second sentence of Section 7(b) of this Warrant, and (iv) the failure to comply with the notice provisions of Section 10.1 of this Warrant. 
  
 20. No Impairment of Rights. The Company will not, by amendment of its
Charter or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times act in good faith in the carrying out of all such terms. 
  
 21. Severability. The invalidity or unenforceability of any provision
of this Warrant in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction, or affect any other provisions of this Warrant, which shall remain in full force and effect. 
  
 22. Recovery of Litigation Costs. If any legal action or other
proceeding is brought for the enforcement of this Warrant, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the successful or prevailing party or parties shall be
entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 
  
 23. Entire Agreement; Modification. This Warrant constitutes the entire agreement between the parties pertaining to
the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 -13- 

 The Company has caused this Warrant to be duly executed and delivered as of the Date of Grant specified
above. 
  

	RENOVIS, INC.
		
	 By
	 	 /s/ Lynne Zydowsky

	 Title
	 	 COO & SR. V.P., Business Development

		
	 Address:
	 	         270 Littlefield Avenue

	 	 	         South San Francisco, CA 94080

  

 -14-

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