Document:

EX-10.23

 Exhibit 10.23 

*** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 
 FIRST AMENDMENT
TO THE 
 LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT 

THIS FIRST AMENDMENT (this “Amendment”) to the License, Development and Commercialization Agreement (as hereinafter defined), is
effective as of the 13th day of October 2012 (the “Amendment Effective Date”), by and between Bayer Pharma AG (formerly known as Bayer Schering Pharma AG), a German corporation, with a place of business at Muellerstrasse 178, Berlin 13342,
Germany (“Bayer”), and Syndax Pharmaceuticals, Inc., a Delaware corporation, with a place of business at 460 Totten Pond Road, Suite 650, Waltham, Massachusetts 02451, USA (“Licensee”). 

WHEREAS, Bayer and Licensee entered into that certain License, Development and Commercialization Agreement dated as of March 26, 2007
(the “License Agreement”); and 
 WHEREAS, Bayer and Licensee desire to amend the License Agreement to expand the definition of
Field and update the Sales-Related Milestone Payments. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth
herein, Bayer and Licensee mutually agree as follows: 
 1. Definitions. Capitalized terms used in this Amendment and not otherwise
defined in this Amendment shall have the meanings set forth in the License Agreement. 
 2. Effective Date. This Amendment shall
become effective as of the Amendment Effective Date. 
 3. Consideration. In consideration of the grant by Bayer to Licensee of the
additional rights to the Compound, Licensee shall pay to Bayer two hundred thousand United States dollars (US$200,000) within five (5) Business Days of the earlier of (i) the closing of Licensee’s Series B preferred stock financing or
(ii) *** from the Amendment Effective Date. This payments will be unconditional and, as such, shall not be subject to any offset, credit, reduction or repayment for any reason whatsoever, whether provided for this Agreement or not. 

4. Expansion of Field of Use. Section 1.41 of the License Agreement is hereby deleted in its entirety and replaced with the
following: 
 “1.41 “Field” means any use of the Product in the treatment of disease in humans.”

 5. Revised Sales-Related Milestones. Section 6.3.3.1 is hereby deleted in its entirety and replaced with the following: 

					
	 Milestone
	  	Payment	 
		
	 Aggregate annual Net Sales of the Product in the Territory of $***
	  	$	***	  
		
	 Aggregate annual Net Sales of the Product in the Territory of $***
	  	$	***	  

 6. Effect of Amendment. Except as expressly amended in this Amendment, all terms and conditions of the
License Agreement shall remain in full force and effect. 
 7. Counterparts. This Amendment may be executed in two or more
counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 
 IN
WITNESS WHEREOF, the Parties hereto have executed this Amendment as indicated by the signatures below. 
  

									
	BAYER PHARMA AG	 		 	SYNDAX PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Andreas Fibig
	 		 	By:	 	 /s/ Arlene M. Morris

					
	Name:	 	Andreas Fibig	 		 	Name:	 	Arlene M. Morris
					
	Title:	 	Chairman of the Board of Management	 		 	Title:	 	Chief Executive Officer
					
	By:	 	 /s/ Flemming Ornskov
	 		 		 	
					
	Name:	 	Flemming Ornskov	 		 		 	
					
	Title:	 	Head, Strategic Marketing Specialty Medicine	 		 		 	

  
 *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH
CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 2EX-10.24

 Exhibit 10.24 

SECOND AMENDMENT TO THE 

LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT 

THIS SECOND AMENDMENT (this “Amendment”) to the License, Development and Commercialization Agreement (as hereinafter defined), is
effective as of the 1st day of February 2013 (the “Second Amendment Effective Date”), by and between Bayer Pharma AG (formerly known as Bayer Schering Pharma AG), a German corporation,
with a place of business at Muellerstrasse 178, Berlin 13342, Germany (“Bayer”), and Syndax Pharmaceuticals, Inc., a Delaware corporation, with a place of business at 460 Totten Pond Road, Suite 650, Waltham, Massachusetts 02451, USA
(“Licensee”). 
 WHEREAS, Bayer and Licensee entered into that certain License, Development and Commercialization Agreement dated
as of March 26, 2007, as amended (the “License Agreement”); and 
 WHEREAS, Bayer and Licensee desire to amend the License
Agreement to provide for a perpetual, irrevocable license following expiration of the term of the License Agreement and to grant sublicensees an option to acquire a direct license in the event that the License Agreement is terminated. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, Bayer and Licensee mutually agree as follows: 

1. Definitions. Capitalized terms used in this Amendment and not otherwise defined in this Amendment shall have the meanings set forth
in the License Agreement. 
 2. Effective Date. This Amendment shall become effective as of the Second Amendment Effective Date. 

3. Post-Expiration License Rights. The following sentences are hereby added at the end of Section 12.1: 

“Upon expiration of the Agreement the license granted under this Agreement shall become fully paid-up, exclusive,
irrevocable, freely sublicensable, assignable and transferable. For clarity, any country in the Territory in which the Royalty Term has not commenced as of the expiration of the last to expire Bayer Patent containing a Valid Claim in such country in
the Territory shall be ignored for purposes of determining whether the Royalty Term has expired in all countries within the Territory.” 

4. Survival of Sublicenses. The following is hereby added as a new Section 12.6.4: 

“12.6.4. Survival of Sublicenses. 

 12.6.4.1. In the event that this Agreement is terminated for any reason, any
sublicense granted by Licensee to a Sublicensee shall, at the election of such Sublicensee, survive such termination in accordance with the provisions of this Section 12.6.4, provided that such Sublicensee is at the time in full compliance with
the terms of the applicable sublicense agreement. 
 12.6.4.2. Upon termination of this Agreement, Bayer shall automatically
be deemed to have entered into a license agreement with Sublicensee pursuant to which it grants a license under the Bayer Intellectual Property (a “Direct License”) directly to such Sublicensee. Each Direct License shall be subject
to the same terms and conditions as those in such Sublicense Agreement, including but not limited to scope, sublicense territory, duration of sublicense grant, financial and diligence obligations, in each case to the extent that such sublicense
agreement provisions are not in conflict with the terms of this Agreement or applicable federal, state or local laws or regulations. In no event shall Bayer (a) be liable to Sublicensee for any actual or alleged breach of such sublicense
agreement by Licensee or (b) have any obligations to such Sublicensee other than Bayer’s obligations to Licensee as set forth herein. Notwithstanding of the foregoing, in no event shall Sublicensee be required to make any monetary
payment(s) under the Direct License in excess of such monetary payment(s) that, had this Agreement not been terminated, Licensee would have been required to make under this Agreement as a result of the activities of such Sublicensee including
without limitation Sublicensee’s pro-rata share (based on aggregate annual Net Sales of the Product) of any sales milestone payment due pursuant to Section 6.3.3. At a Sublicensee’s request, Bayer as soon as practicable shall sign a
written license agreement with such Sublicensee to memorialize the terms of the Direct License, which written agreement shall be fully consistent with this Section 12.6.4 and the Sublicense Agreement. 

12.6.4.3. Each Sublicensee shall be an intended third party beneficiary of this Section 12.6.4, to the extent such
Sublicensee exercises its option under this Section 12.6.4.” 
 5. Effect of Amendment. Except as expressly amended in this
Amendment, all terms and conditions of the License Agreement shall remain in full force and effect. 
 6. Counterparts. This
Amendment may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 

  
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 IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as indicated by the
signatures below. 
  

									
	BAYER PHARMA AG	 		 	SYNDAX PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Andreas Fibig
	 		 	By:	 	 /s/ Arelene M. Morris

					
	Name:	 	Andreas Fibig	 		 	Name:	 	Arlene M. Morris
					
	Title:	 	Chairman of the Board of Management	 		 	Title:	 	Chief Executive Officer
					
	By:	 	 /s/ Karl Ziegelbauer
	 		 		 	
					
	Name:	 	Karl Ziegelbauer	 		 		 	
					
	Title:	 	Head TRG Oncology/Gynecological Therapy	 		 		 	

  
 - 3 -EX-10.25

 Exhibit 10.25 

*** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 
 THIRD AMENDMENT
TO THE 
 LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT 

THIS THIRD AMENDMENT (this “Amendment”) to the License, Development and Commercialization Agreement (as hereinafter defined), is
effective as of the 9th day of October 2013 (the “Third Amendment Effective Date”), by and between Bayer Pharma AG (formerly known as Bayer Schering Pharma AG), a German corporation,
with a place of business at Muellerstrasse 178, Berlin 13342, Germany (“Bayer”), and Syndax Pharmaceuticals, Inc., a Delaware corporation, with a place of business at 400 Totten Pond Road, Suite 140, Waltham, Massachusetts 02451, USA
(“Licensee”). 
 WHEREAS, Bayer and Licensee entered into that certain License, Development and Commercialization Agreement dated
as of March 26, 2007, as amended (the “License Agreement”); and 
 WHEREAS, Bayer and Licensee desire to amend the License
Agreement as described below. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, Bayer and
Licensee mutually agree as follows: 
 1. Definitions. Capitalized terms used in this Amendment and not otherwise defined in this
Amendment shall have the meanings set forth in the License Agreement. 
 2. Effective Date. This Amendment shall become effective as
of the Third Amendment Effective Date. 
 3. Sales Milestones. Section 6.3.3.1 of the License Agreement is hereby deleted in its
entirety and replaced with the following: 
 6.3.3.1 Licensee shall make the following milestone payments to Bayer upon the occurrence of the
corresponding event below: 
  

					
	 Milestone
	  	Payment	 
		
	 Aggregate annual Net Sales of Product in the Territory first reaches $***
	  	$	***	  
	 Aggregate annual Net Sales of Product in the Territory first reaches $***
	  	$	***	  
	 Aggregate annual Net Sales of Product in the Territory first reaches $***
	  	$	***	  

 4. Royalties. Section 6.4 (including subsections 6.4.1 and 6.4.2) of the License
Agreement is hereby deleted in its entirety and replaced with the following: 
 6.4. Royalty Payments. In partial consideration of the
license and rights granted to it by Bayer under this Agreement, Licensee shall pay to Bayer, on a country-by-country basis, during the Royalty Term in each such country, a royalty on Net Sales of the Product, in the following amounts: 

 

					
	 Net Sales
	  	Royalty (% of Net Sales)	 
		
	 On that portion of annual Net Sales of the Product from $*** to $***
	  	 	***	% 
	 On that portion of annual Net Sales of the Product from $*** to $***
	  	 	***	% 
	 On that portion of annual Net Sales of the Product from $*** to $***
	  	 	***	% 
	 On that portion of annual Net Sales of the Product above $***
	  	 	***	% 

 5. Know-How Royalty. Section 6.5.2 of the License Agreement is hereby deleted in its entirety.

 6. Effect of Amendment. Except as expressly amended in this Amendment, all terms and conditions of the License Agreement shall
remain in full force and effect. 
 7. Counterparts. This Amendment may be executed in two or more counterparts, each of which shall
be deemed to be an original, but all of which together shall constitute one and the same instrument. 
 [Signature Page Follows] 

 
 *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS
REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 - 2 - 

 IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as indicated by the
signatures below. 
  

									
	BAYER PHARMA AG	 		 	SYNDAX PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Andreas Fibig
	 		 	By:	 	 /s/ Arlene M. Morris

					
	Name:	 	Andreas Fibig	 		 	Name:	 	Arlene M. Morris
					
	Title:	 	Chairman of the Board of Management of Bayer Pharma AG	 		 	Title:	 	Chief Executive Officer
					
	By:	 	 /s/ Karl Ziegelbauer
	 		 		 	
					
	Name:	 	Karl Ziegelbauer	 		 		 	
					
	Title:	 	Head TRG Oncology/Gynecological Therapy	 		 		 	

  
 *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH
CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 - 3 -

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