Document:

EX-10.28

 Exhibit 10.28 
 EXECUTION VERSION 
 FIRST AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 
 THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Agreement”) is dated as of August 1, 2011, by and among REGADO BIOSCIENCES, INC., a Delaware corporation
(“Borrower”), MIDCAP FINANCIAL SBIC, LP, a Delaware limited partnership in its capacity as agent (“Agent”) for the lenders under the Loan Agreement (as defined below) (“Lenders”), and the Lenders.

 WITNESSETH: 
 WHEREAS, Borrower, Lenders and Agent are parties to that certain Loan and Security Agreement, dated as of May 25, 2011 (as amended, restated, supplemented or otherwise modified from time to
time, the “Loan Agreement”; capitalized terms used herein have the meanings given to them in the Loan Agreement except as otherwise expressly defined herein), pursuant to which Lenders have agreed to provide to Borrower certain
loans and other extensions of credit in accordance with the terms and conditions thereof; and 
 WHEREAS, Borrower, Agent
and Lenders desire to amend certain provisions of the Loan Agreement in accordance with, and subject to, the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises, the covenants and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Borrower, Lenders and Agent hereby agree as follows: 
 1. Acknowledgment of Obligations. Borrower
hereby acknowledges, confirms and agrees that all Term Loans made prior to the date hereof, together with interest accrued and accruing thereon, and fees, costs, expenses and other charges owing by Borrower to Agent and Lenders under the Loan
Agreement and the other Debt Documents, are unconditionally owing by Borrower to Agent and Lenders, without offset, defense or counterclaim of any kind, nature or description whatsoever except as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws relating to or affecting creditor’s rights generally. 
 2.
Amendment to Loan Agreement. Subject to the terms and conditions of this Agreement, including, without limitation, the conditions to effectiveness set forth in Section 5 below, Section 6.12 of the Loan Agreement is
hereby amended by deleting such section in its entirety and by inserting, in lieu thereof, the following: 
 “6.12 Equity
Proceeds. (a) If the Funding Date for Tranche Two occurs on or before August 15, 2011, then deliver to Agent evidence in form and substance satisfactory to Agent that (i) Borrower shall have received net cash proceeds of not less
than an additional $3,500,000 from the sale of Borrower’s Series D Stock to existing shareholders after the Closing Date and on or before October 1, 2011, and (ii) Borrower shall have received net cash proceeds of not less than an
additional $3,500,000 from the sale of Borrower’s Series D Stock to existing shareholders after October 1, 2011 and on or before February 1, 2012, which such equity issuance shall be pursuant to, and in accordance with, the Series D
Equity Agreement. 

 (b) If Tranche Two is not advanced or if the Funding Date for Tranche Two
occurs after August 15, 2011, then deliver to Agent evidence in form and substance satisfactory to Agent that (i) Borrower shall have received net cash proceeds of not less than an additional $3,000,000 from the sale of Borrower’s
Series D Stock to existing shareholders after the Closing Date and on or before August 15, 2011, (ii) Borrower shall have received net cash proceeds of not less than an additional $2,000,000 from the sale of Borrower’s Series D Stock
to existing shareholders after August 15, 2011, and on or before October 1, 2011, and (iii) Borrower shall have received net cash proceeds of not less than an additional $2,000,000 from the sale of Borrower’s Series D Stock to
existing shareholders after October 1, 2011 and on or before February 1, 2012, which such equity issuance shall be pursuant to, and in accordance with, the Series D Equity Agreement.” 

3. No Other Amendments. Except for the amendment and agreement set forth and referred to in Section 2 above,
the Loan Agreement and the other Debt Documents shall remain unchanged and in full force and effect. Nothing in this Agreement is intended, or shall be construed, to constitute a novation or an accord and satisfaction of any of Borrower’s
Obligations or to modify, affect or impair the perfection or continuity of Agent’s security interests in, security titles to or other liens, for the benefit of itself and the Lenders, on any Collateral for the Obligations. 

4. Representations and Warranties. To induce Agent and Lenders to enter into this Agreement, Borrower does hereby warrant,
represent and covenant to Agent and Lenders that (i) each representation or warranty of Borrower set forth in the Loan Agreement is hereby restated and reaffirmed as true and correct in all material respects on and as of the date hereof as if
such representation or warranty were made on and as of the date hereof (except to the extent that any such representation or warranty expressly relates to a prior specific date or period), (ii) no Default or Event of Default has occurred and is
continuing as of the date hereof and (iii) Borrower has the power and is duly authorized to enter into, deliver and perform this Agreement and this Agreement is the legal, valid and binding obligation of Borrower enforceable against Borrower in
accordance with its terms. 
 5. Condition Precedent to Effectiveness of this Agreement. This Agreement
shall become effective as of the date (the “Amendment Effective Date”) upon which Agent shall notify Borrower in writing that Agent has received one or more counterparts of this Agreement duly executed and delivered by Borrower,
Agent and Lenders, in form and substance satisfactory to Agent and Lenders. 
 6. Release. 

(a) In consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and each
Lender and their respective successors and assigns, and their 

  
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 respective present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors,
officers, attorneys, employees, agents and other representatives (Agent, Lenders and all such other persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and
from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and
liabilities whatsoever (individually, a “Claim” and collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower or any of its successors,
assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to
the Amendment Effective Date, including, without limitation, for or on account of, or in relation to, or in any way in connection with the Loan Agreement or any of the other Debt Documents or transactions thereunder or related thereto. 

(b) Borrower understands, acknowledges and agrees that its release set forth above may be pleaded as a full and complete defense and may
be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. 
 (c) Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and
unconditional nature of the release set forth above. 
 7. Covenant Not To Sue. Borrower, on behalf of
itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee that it will not sue (at law, in equity, in any regulatory proceeding or
otherwise) any Releasee on the basis of any Claim released, remised and discharged by Borrower pursuant to Section 6 above. If Borrower or any of its successors, assigns or other legal representatives violates the foregoing covenant,
Borrower, for itself and its successors, assigns and legal representatives, agrees to pay, in addition to such other damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Releasee as a
result of such violation. 
 8. Advice of Counsel. Each of the parties represents to each other party hereto that
it has discussed this Agreement with its counsel. 
 9. Severability of Provisions. In case any provision
of or obligation under this Agreement shall be invalid, illegal or unenforceable in any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other
jurisdiction, shall not in any way be affected or impaired thereby. 
 10. Counterparts. This Agreement may
be executed in multiple counterparts, each of which shall be deemed to be an original and all of which when taken together shall constitute one and the same instrument. 

  
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 11. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF MARYLAND APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS. 

12. Entire Agreement. The Loan Agreement as and when amended through this Agreement embodies the entire agreement between
the parties hereto relating to the subject matter thereof and supersedes all prior agreements, representations and understandings, if any, relating to the subject matter thereof. 

13. No Strict Construction, Etc. The parties hereto have participated jointly in the negotiation and drafting of this
Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this Agreement. Time is of the essence for this Agreement. 
 14. Costs and
Expenses. Borrower absolutely and unconditionally agrees to pay or reimburse upon demand for all reasonable fees, costs and expenses incurred by Agent and the Lenders that are Lenders on the Closing Date in connection with the preparation,
negotiation, execution and delivery of this Agreement and any other Debt Documents or other agreements prepared, negotiated, executed or delivered in connection with this Agreement or transactions contemplated hereby. 

[Remainder of page intentionally blank; signature pages follow.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Loan and
Security Agreement to be duly executed and delivered as of the day and year specified at the beginning hereof. 
  

			
	BORROWER:
	
	REGADO BIOSCIENCES, INC.
		
	By:	 	 /s/ Chris Courts

	Name:	 	Chris Courts
	Title:	 	VP-Finance

 REGADO BIOSCIENCES, INC. 
 FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 SIGNATURE PAGE 

  

 
			
	AGENT AND LENDER:
	
	 MIDCAP FINANCIAL SBIC, LP, as a Lender

            By: MIDCAP FINANCIAL SBIC,
GP

		
	By:	 	 /s/ Josh Groman

	Name:	 	Josh Groman
	Title:	 	Authorized Signatory

 REGADO BIOSCIENCES, INC. 
 FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 SIGNATURE PAGEEX-10.29

 Exhibit 10.29 
 SECOND AMENDMENT TO 
 LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Agreement”) is dated as of September
[    ], 2011, by and among REGADO BIOSCIENCES, INC., a Delaware corporation (“Borrower”). MIDCAP FINANCIAL SBIC, LP, a Delaware limited partnership in its capacity as agent
(“Agent”) for the lenders under the Loan Agreement (as defined below) (“Lenders”), and the Lenders. 
 W I T N E S S E T H: 
 WHEREAS, Borrower, Lenders and Agent are parties to that certain Loan and Security Agreement, dated as of May 25, 2011, and as amended by that certain First Amendment to Loan and Security
Agreement, dated as of August 1, 2011 (as so amended and as may be further amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”; capitalized terms used herein have the meanings given to them
in the Loan Agreement except as otherwise expressly defined herein), pursuant to which Lenders have agreed to provide to Borrower certain loans and other extensions of credit in accordance with the terms and conditions thereof; and 

WHEREAS, Borrower, Agent and Lenders desire to amend certain provisions of the Loan Agreement in accordance with, and subject to,
the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises, the covenants and
agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, Lenders and Agent hereby agree as follows: 

1. Acknowledgment of Obligations. Borrower hereby acknowledges, confirms and agrees that all Term Loans made prior
to the date hereof, together with interest accrued and accruing thereon, and fees, costs, expenses and other charges owing by Borrower to Agent and Lenders under the Loan Agreement and the other Debt Documents, are unconditionally owing by Borrower
to Agent and Lenders, without offset, defense or counterclaim of any kind, nature or description whatsoever except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting
creditor’s rights generally. 
 2. Amendments to Loan Agreement. Subject to the terms and conditions
of this Agreement, including, without limitation, the conditions to effectiveness set forth in Section 5 below, the Agent and Lenders hereby agree that the Loan Agreement shall be amended as follows: 

(a) Section 2.2(d) of the Loan Agreement is hereby amended by deleting such section in its entirety and by inserting, in lieu
thereof, the following: 
 “(d) Permitted Prepayment of Loans. Borrower shall have the option to prepay the Term
Loans advanced by the Lenders under this Agreement, in whole or in part, provided, 

 however, that Borrower (i) provides written notice to Agent of its election to
prepay a portion or the entire amount of Term Loans at least fifteen (15) days prior to such prepayment, and (ii) (X) in the case of a prepayment of the entire amount of Term Loans, pays to Agent, for payment to each Lender in
accordance with its respective Pro Rata Share, on the date of such prepayment an amount equal to the sum of: (A) all outstanding principal of the Term Loans and all other Obligations, and all accrued interest thereon. plus (B) the
Final Payment, plus (C) the Prepayment Fee, plus (D) all other sums that shall have become due and payable, including Lenders’ Expenses and (y) in the case of a prepayment of a portion of the Term Loans, pays to
each Lender in accordance with its respective Pro Rata Share, on the date of such prepayment an amount equal to the sum of: (A) the amount of the outstanding principal of the Term Loans prepaid and all accrued interest thereon, plus
(B) the Partial Final Payment, plus (C) the Partial Prepayment Fee, plus (D) all other sums that shall have become due and payable, including Lenders’ Expenses.” 

(b) Section 14 of the Loan Agreement is hereby amended by deleting the definitions of “Final Payment” and
“Prepayment Fee” in their entirety and substituting in lieu thereof the following new definitions to read in their entirety as follows: 
 ““Final Payment” means a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earlier to occur of
(a) the Maturity Date, (b) the acceleration of any Term Loan, and (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the amounts advanced by Lenders pursuant to the Term Loan Commitments multiplied
by the Final Payment Percentage less any Partial Final Payment fee paid pursuant to Section 2.2(d). 

“Prepayment Fee” means with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether by
mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in an amount equal to: 
 (a) for a prepayment made on or after the Closing Date through and including the date which is twelve (12) months after the Closing Date, two percent (2.0%) multiplied by the original
Term Loan Commitments, less any Partial Prepayment Fee paid in accordance with Section 2.2(d); and 
 (b) for a prepayment made after the date which is more than twelve (12) months after the Closing Date and prior to the Maturity Date, one percent (1.0%) multiplied by the original Term
Loan Commitments, less any Partial Prepayment Fee paid in accordance with Section 2.2(d).” 
 (c)
Section 14 of the Loan Agreement is hereby amended by inserting the following new definitions in proper alphabetical order: 
 ““Partial Final Payment” means a payment (in addition to and not a substitution for the regular monthly payments of accrued interest plus, if applicable, principal) due on the
prepayment of a portion of the Term Loan pursuant to Section 2.2(d), equal to the amount of the Term Loans so prepaid multiplied by the Final Payment Percentage. 

  
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 “Partial Prepayment Fee” means with respect to any Term Loan subject to
prepayment prior to the Maturity Date, by voluntary prepayment paid pursuant to Section 2.2(d), an additional fee payable to the Lenders in an amount equal to: 

(a) for a prepayment made on or after the Closing Date through and including the date which is twelve (12) months
after the Closing Date, two percent (2.0%) multiplied by the amount of the outstanding principal of the Term Loans prepaid; and 
 (b) for a prepayment made after the date which is more than twelve (12) months after the Closing Date and prior to the Maturity Date, one percent (1.0%) multiplied by the amount of the
outstanding principal of the Term Loans prepaid.” 
 3. No Other Amendments. Except for the
amendments and agreements set forth and referred to in Section 2 above, the Loan Agreement and the other Debt Documents shall remain unchanged and in full force and effect. Nothing in this Agreement is intended, or shall be construed, to
constitute a novation or an accord and satisfaction of any of Borrower’s Obligations or to modify, affect or impair the perfection or continuity of Agent’s security interests in, security titles to or other liens, for the benefit of itself
and the Lenders, on any Collateral for the Obligations. 
 4. Representations and Warranties. To induce
Agent and Lenders to enter into this Agreement. Borrower does hereby warrant, represent and covenant to Agent and Lenders that (i) each representation or warranty of Borrower set forth in the Loan Agreement is hereby restated and reaffirmed as
true and correct in all material respects on and as of the date hereof as if such representation or warranty were made on and as of the date hereof (except to the extent that any such representation or warranty expressly relates to a prior specific
date or period), (ii) no Default or Event of Default has occurred and is continuing as of the date hereof and (iii) Borrower has the power and is duly authorized to enter into, deliver and perform this Agreement and this Agreement is the
legal, valid and binding obligation of Borrower enforceable against Borrower in accordance with its terms. 
 5.
Condition Precedent to Effectiveness of this Agreement. This Agreement shall become effective as of the date (the “Amendment Effective Date”) upon which Agent shall notify Borrower in writing that Agent has received
one or more counterparts of this Agreement duly executed and delivered by Borrower. Agent and Lenders, in form and substance satisfactory to Agent and Lenders. 
 6. Release. 
 (a) In consideration of the agreements of Agent and
Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely,
unconditionally and irrevocably releases, remises and forever discharges Agent and each Lender and their respective successors and assigns, and their respective present and former shareholders, affiliates, subsidiaries, divisions, predecessors,
directors, officers, attorneys, employees, agents and other representatives (Agent, Lenders and all 

  
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such other persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of
action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever (individually,
a “Claim” and collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower or any of its successors, assigns, or other legal representatives
may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the Amendment Effective Date,
including, without limitation, for or on account of, or in relation to, or in any way in connection with the Loan Agreement or any of the other Debt Documents or transactions thereunder or related thereto. 

(b) Borrower understands, acknowledges and agrees that its release set forth above may be pleaded as a full and complete
defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. 

(c) Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may
hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above. 

7. Covenant Not To Sue. Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby
absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any Releasee on the basis of any Claim released, remised and
discharged by Borrower pursuant to Section 6 above. If Borrower or any of its successors, assigns or other legal representatives violates the foregoing covenant. Borrower, for itself and its successors, assigns and legal representatives,
agrees to pay, in addition to such other damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Releasee as a result of such violation. 

8. Advice of Counsel. Each of the parties represents to each other party hereto that it has discussed this Agreement with
its counsel. 
 9. Severability of Provisions. In case any provision of or obligation under this Agreement shall
be invalid, illegal or unenforceable in any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected
or impaired thereby. 
 10. Counterparts. This Agreement may be executed in multiple counterparts, each of which
shall be deemed to be an original and all of which when taken together shall constitute one and the same instrument. 
 11.
GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF MARYLAND APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Loan and
Security Agreement to be duly executed and delivered as of the day and year specified at the beginning hereof. 
  

			
	BORROWER:
	
	REGADO BIOSCIENCES, INC.
		
	By:	 	/s/ Chris Courts
	Name:	 	Chris Courts
	Title:	 	VP - Finance

 REGADO BIOSCIENCES, INC 
 SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 SIGNATURE PAGE 

 
			
	AGENT AND LENDER:
	
	MIDCAP FINANCIAL SBIC, LP, as a Lender
		
		 	By: MIDCAP FINANCIAL SBIC GP, LLC
		
	By:	 	/s/ Luis A. Viera
	Name:	 	Luis A. Viera
	Title:	 	Authorized Signatory

 REGADO BIOSCIENCES, INC 
 SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 SIGNATURE PAGE

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