Document:

Exhibit 10.1

 

SUBLEASE AGREEMENT

 

This Sublease Agreement
(“Sublease”) is made as of the 10th day of October, 2014, by and between Pathway Genomics Corporation, a Delaware
corporation (“Sublandlord”), and Fabrus, Inc., a wholly-owned subsidiary of Senesco Technologies, Inc., a Delaware
corporation (“Subtenant”).

 

RECITALS

 

This Sublease is made with regard to the
following facts:

 

A.           Sublandlord
is the assignee tenant under the Lease dated December 1, 2003, as amended by the Assignment and First Amendment to Lease Agreement
dated November 1, 2008, the Second Amendment to Lease dated April 14, 2011, and as further amended or assigned (collectively the
“Master Lease”) with Alexandria Real Estate Equities as the successor landlord (the “Master Landlord”).
A copy of that Master Lease (including amendments) is attached to this Sublease and marked as Exhibit A. Under the Master
Lease, Sublandlord leases a one-story building containing approximately 10,571 square feet of Rentable Area (as defined in the
Master Lease) of office and laboratory space located at 4045 Sorrento Valley Blvd., San Diego, California 92121 (the “Premises”).

 

B.           Subtenant
desires to sublease from Sublandlord the entire Premises, which Premises is more particularly described in Exhibit B attached
to this Sublease. Sublandlord has agreed to sublease the Premises to Subtenant on the terms, covenants and conditions stated in
this Sublease.

 

C.           Capitalized
terms used herein which are not expressly defined in this Sublease shall have the meanings given in the Master Lease.

 

NOW, THEREFORE, in
consideration of the mutual covenants contained in this Sublease, and for valuable consideration, the receipt and sufficiency of
which are acknowledged by the parties, the parties agree as follows:

 

1.          Sublease.
Sublandlord subleases to Subtenant and Subtenant subleases from Sublandlord the Premises, subject to the terms, covenants, and
conditions contained in this Sublease. Sublandlord and Subtenant agree that the Premises contain 10,571 square feet of Rentable
Area.

 

2.          Term
and Possession.

 

2.1           Term.
Subject to the condition set forth in Section 13.6 below, the terms and provisions of this Sublease shall be effective between
Sublandlord and Subtenant as of the date of this Sublease. The term of this Sublease will commence on October 10, 2014,
and will expire, unless sooner terminated as provided in the Master Lease, on October 31, 2016. In no event shall the expiration
date of the Sublease exceed the Term Expiration Date of the Master Lease.

 

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2.2           Possession.
Sublandlord will deliver possession of the Premises to Subtenant no later than the date set forth in Section 2.1 above. Sublandlord
may allow Subtenant early possession of the Premises conditioned upon the Premises being available for such possession prior to
the commencement date set forth in Section 2.1. Any grant of early possession only conveys a non-exclusive right to occupy the
Premises. If Subtenant totally or partially occupies the Premises prior to the commencement date, the obligation to pay Basic Rent
shall be abated for the period of such early possession. All other terms of this Sublease (including but not limited to the obligations
to pay Additional Rent and obtain insurance) shall, however, be in effect during such period. Any such early possession shall not
affect the expiration date of the term hereof. Sublandlord shall not be required to tender possession of the Premises to Subtenant
until Subtenant complies with its obligation to provide evidence of insurance. Pending delivery of such evidence, Subtenant shall
be required to perform all of its obligations under this Sublease from and after the date set forth in Section 2.1, including the
payment of Basic Rent and Additional Rent, notwithstanding Sublandlord's election to withhold possession pending receipt of such
evidence of insurance. Further, if Subtenant is required by this Sublease to perform any other conditions prior to or concurrent
with the commencement date, the commencement date shall occur but Sublandlord may elect to withhold possession until such conditions
are satisfied.

 

3.          Basic
Rent. Subtenant will pay Basic Rent during the term of this Sublease in the initial amount of $22,728.00
per month, payable monthly in advance on the first day of each month. Basic Rent will be abated to the amount of $0.00 for months
two (2) through six (6) of the term; however, Additional Rent shall not be abated. The monthly Basic Rent will be increased by
3% on each anniversary of the commencement date stated in Section 2.1 above. Furthermore, in the event that the term of this Sublease
begins or ends on a date that is not the first day of a month, Basic Rent will be prorated as of that date. Concurrent with Subtenant’s
execution of this Sublease, Subtenant will deliver to Sublandlord the following:

 

	First monthly Basic Rent:	 	$	15,396.39	 
	Security Deposit:	 	$	30,000.00	 
	Estimated Operating Expense	 	 	 	 
	for October 2014:	 	$	5,800.00	 
	 	 	 	 	 
	Total:	 	$	58,528.00	 

 

The Security Deposit will be held by Sublandlord
under the terms of Section 5.8 of the Master Lease.

 

4.          Additional
Rent. Subtenant acknowledges that pursuant to the terms of the Master Lease, Sublandlord is obligated to pay as
Additional Rent a share of Operating Expenses and other amounts due to the Master Landlord by Sublandlord pursuant to the Master
Lease. Subtenant agrees that in addition to the Basic Rent due under Section 3 above, Subtenant shall pay to Sublandlord as Additional
Rent 100% of all amounts of Additional Rent Sublandlord is obligated to pay Master Landlord pursuant to the Master Lease other
than Additional Rent payable under the Master Lease that arises from Sublandlord's Default under the Master Lease or any other
failure by Sublandlord to comply with the agreements, terms, covenants and conditions of the Master Lease. Subtenant shall pay
such Additional Rent to Sublandlord at least five days prior to the date Sublandlord must pay such Additional Rent to Master Landlord
pursuant to the terms of the Master Lease. Subtenant’s obligation to pay Additional Rent hereunder shall be subject to adjustment
as provided in the Master Lease.

 

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5.          Use.
Subtenant agrees to use the Premises in accordance with the provisions of the Master Lease and this Sublease, and for no other
purpose.

 

6.          Master
Lease. Subject to Section 7.1 below, as applied to this Sublease, the words “Landlord” and “Tenant”
in the Master Lease will be deemed to refer to Sublandlord and Subtenant, respectively, under this Sublease.

 

Except as otherwise
expressly provided in Section 8 of this Sublease, the covenants, agreements, provisions, and conditions of the Master Lease are
made a part of, and incorporated into, this Sublease as if recited in full in this Sublease.

 

Subject to Section
7.1 below, the rights and obligations of the “Landlord” and the “Tenant” under the Master Lease will be
deemed the rights and obligations of Sublandlord and Subtenant, respectively, under this Sublease, and will inure to the benefit
of, and be binding on, Sublandlord and Subtenant, respectively. As between the parties to this Sublease only, in the event of a
conflict between the terms of the Master Lease and the terms of this Sublease, the terms of this Sublease will control, except
to the extent that adherence to a conflicting provision of this Sublease would (a) constitute a breach of the Master Lease, (b)
require Sublandlord to take some action, provide a benefit, or refrain from taking action in violation of, or not provided by,
the Master Lease, or (c) that would result in Subtenant paying to Sublandlord less than 100% of all Additional Rent Sublandlord
is required to pay to Master Landlord under the Master Lease.

 

7.          Performance
by Sublandlord; Status of Master Lease.

 

7.1.          Sublandlord’s
Performance Conditioned on Master Landlord’s Performance. Subtenant recognizes that Sublandlord is not in
a position to render any of the services or to perform any of the obligations required of Master Landlord by the terms of the Master
Lease. Therefore, despite anything to the contrary in this Sublease and the Master Lease, Subtenant agrees that performance by
Sublandlord of its obligations under this Sublease is conditioned on performance by the Master Landlord of its corresponding obligations
under the Master Lease, and Sublandlord will not be liable to Subtenant for any default of the Master Landlord under the Master
Lease.

 

Subtenant will not
have any claim against Sublandlord based on the Master Landlord’s failure or refusal to comply with any of the provisions
of the Master Lease unless that failure or refusal is a result of Sublandlord’s act or failure to act. Despite the Master
Landlord’s failure or refusal to comply with any of those provisions of the Master Lease, this Sublease will remain in full
force and effect and Subtenant will pay the Basic Rent and Additional Rent and all other charges provided for in this Sublease
without any abatement, deduction or setoff. Except as expressly provided in this Sublease, Subtenant agrees to be subject to, and
bound by, all of the covenants, agreements, terms, provisions, and conditions of the Master Lease, as though Subtenant was the
Tenant under the Master Lease.

 

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7.2.          Obtaining
Master Landlord’s Consent. Whenever the consent of the Master Landlord is required under the Master Lease,
and whenever the Master Landlord fails to perform its obligations under the Master Lease, Sublandlord agrees to use its reasonable,
good faith efforts to obtain, at Subtenant’s sole cost and expense, that consent or performance on behalf of Subtenant.

 

7.3.          No
Existing Defaults. Sublandlord represents and warrants to Subtenant that the Master Lease is in full force and effect,
and Sublandlord has neither given nor received a notice of default under the Master Lease.

 

7.4.          Preservation
of Master Lease. Sublandlord agrees not to terminate the Master Lease voluntarily, or modify the Master Lease in
a manner that adversely affects Subtenant’s rights under this Sublease. Subtenant and Sublandlord will each refrain from
any act or omission that would result in the failure or breach of any of the covenants, provisions, or conditions of the Master
Lease on the part of the Tenant under the Master Lease.

 

8.          Variations
From Master Lease. As between Sublandlord and Subtenant, the terms and conditions of the Master Lease are modified
as stated below in this Section 8:

 

8.1.          Basic
Rent; Term; Security Deposit. Despite anything to the contrary stated in the Master Lease, the term of this Sublease,
Basic Rent payable under this Sublease, and the amount of the Security Deposit required of the Subtenant are as stated in Sections
2 and 3 above.

 

8.2.          Brokers.
The parties to this Sublease warrant to each other that neither party dealt with any broker or finder in connection with the consummation
of this Sublease other than Cassidy Turley and Cushman & Wakefield (“Brokers”) and each party agrees to protect,
defend, indemnify and hold the other party harmless from and against any and all claims or liabilities for brokerage commissions
or finder’s fees arising out of that party’s acts in connection with this Sublease to anyone other than Brokers. The
provisions of this Section 8.2 will survive the expiration or earlier termination of this Sublease. A commission of 6.5% of the
total Basic Rent payable for the original term of this Sublease will be paid to Brokers (2.5% to Cassidy Turley and 4.0% to Cushman
& Wakefield) by Sublandlord 50% upon execution and delivery of this Sublease and all required monetary amounts by both parties
and 50% upon Subtenant taking possession of the Premises.

 

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8.3.          Insurance
and Condemnation Proceeds. Subtenant will comply with all insurance requirements set forth in the Master Lease,
and shall provide Sublandlord evidence of such insurance prior to taking possession of the Premises. Additionally, and despite
anything contained in the Master Lease to the contrary, as between Sublandlord and Subtenant only, in the event of damage to or
condemnation of the Premises, all insurance proceeds or condemnation awards received by Sublandlord under the Master Lease will
be deemed to be the property of Sublandlord, and Sublandlord will have no obligation to rebuild or restore the Premises.

 

8.4.          Notices.
Any notice that may or must be given by either party under this Sublease will be delivered (i) personally, (ii) by certified
mail, return receipt requested, or (iii) by a nationally recognized overnight courier, addressed to the party to whom it is intended.
Any notice given to Sublandlord or Subtenant shall be sent to the respective address set forth on the signature page below, or
to such other address as that party may designate for service of notice by a notice given in accordance with the provisions of
this Section 8.4. A notice sent pursuant to the terms of this Section 8.4 shall be deemed delivered (A) upon receipt, if delivered
personally, (B) three (3) business days after deposit into the United States mail, or (C) the day following deposit with a nationally
recognized overnight courier.

 

8.5.          Amounts
Payable. All amounts payable under this Sublease by Subtenant are payable directly to Sublandlord.

 

8.6.          Condition
of Premises; Furniture and Equipment; Disability Access; Energy Use Disclosure.

 

8.6.1.          “As-Is.”
Sublandlord will deliver the Premises to Subtenant in its current “as is” condition without any representations or
warranties by Sublandlord as to condition, suitability, zoning, or compliance with building or disability access codes. Subtenant
acknowledges that: (a) it has been given an opportunity to inspect and measure the Premises, (b) it has been advised by Sublandlord
and/or Brokers to satisfy itself with respect to the size and condition of the Premises (including but not limited to the electrical,
HVAC and fire sprinkler systems, security, environmental aspects, and compliance with applicable building codes and disability
access laws such as the Americans with Disabilities Act), and their suitability for Subtenant's intended use, (c) Subtenant has
made such investigation as it deems necessary with reference to such matters and assumes all responsibility therefor as the same
relate to its occupancy of the Premises, (d) Subtenant is not relying on any representation as to the size of the Premises made
by Brokers or Sublandlord, (e) the square footage of the Premises was not material to Subtenant's decision to sublease the Premises
and pay the rent stated herein, and (f) neither Sublandlord, Sublandlord's agents, nor Brokers have made any oral or written representations
or warranties with respect to said matters other than as set forth in this Sublease.

 

8.6.2.          Furniture
and Equipment. Sublandlord and Subtenant agree that the Premises contain the furniture and equipment listed on Exhibit
C to this Sublease (the “Furniture and Equipment”). Subtenant will not remove any of the Furniture and Equipment
from the Premises during the term of this Sublease. Provided that Subtenant faithfully performs all of its obligations under this
Sublease, at the expiration of the term set forth in Section 2 above, title to the Furniture and Equipment shall pass to Subtenant
upon payment to Sublandlord of consideration in the amount of $1.00.

 

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8.6.3.          Disability
Access Laws. The Premises have not undergone an inspection by a Certified Access Specialist (CASp). Since compliance with
the Americans with Disabilities Act and similar laws and regulations (“Disability Access Laws”) is dependent upon Subtenant’s
specific use of the Premises, Sublandlord makes no warranty or representation as to whether or not the Premises complies with Disability
Access Laws. In the event that, as a result of Subtenant's use, or intended use, of the Premises, the Disability Access Laws require
modifications or the construction or installation of improvements in or to the Premises, Project and/or Common Areas, the parties
agree that such modifications, construction or improvements shall be made at Subtenant's expense. In no event shall subtenant be
responsible to cure existing Disability Access Law violations, unless triggered by any Subtenant modifications or construction
activities other than the planned installation of an autoclave, steam dishwasher, generator and reception lighting. In the event
that Subtenant’s installation of an autoclave, steam dishwasher, generator and/or reception lighting triggers an obligation
to cure existing Disability Access Law violations, and if the cost to execute such cure is more than $20,000.00, then Subtenant
shall be responsible for the costs over $20,000.

 

8.6.4.          Energy
Disclosures. Subtenant waives any remedies it may have for Sublandlord’s failure to comply with the energy usage
disclosure requirements of AB 1103.

 

8.7           Maintenance.
Subtenant acknowledges and agrees that it will be solely responsible for all maintenance obligations of “Tenant” under
the Master Lease, and Subtenant covenants with Sublandlord that Subtenant will employ sufficient and qualified facilities personnel
to maintain the Premises as required under the Master Lease.

 

9.          Indemnity.
Subtenant agrees to protect, defend, indemnify, and hold Sublandlord harmless from and against any and all liabilities, claims,
expenses, losses and damages (including reasonable attorney fees and costs), that may at any time be asserted against Sublandlord
by (a) the Master Landlord for failure of Subtenant to perform any of the covenants, agreements, terms, provisions, or conditions
contained in the Master Lease that Subtenant is obligated to perform under the provisions of this Sublease; or (b) any person as
a result of Subtenant’s use or occupancy of the Premises, except to the extent any of the foregoing is caused by the negligence
or willful misconduct of Sublandlord. Sublandlord agrees to protect, defend, indemnify, and hold Subtenant harmless from and against
any and all liabilities, claims, expenses, losses and damages (including reasonable attorney fees and costs), that may at any time
be asserted against Subtenant due to Sublandlord's failure to perform any of the covenants, agreements, terms, provisions, or conditions
contained in this Sublease. The provisions of this Section 9 will survive the expiration or earlier termination of the Master Lease
or this Sublease.

 

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10.         Cancellation
of Master Lease. In the event the Master Lease is canceled or terminated for any reason, or involuntarily surrendered
by operation of law before the expiration date of this Sublease, Subtenant agrees, at the sole option of the Master Landlord, to
attorn to the Master Landlord for the balance of the term of this Sublease and on the then executory terms of this Sublease.

 

That attornment will
be evidenced by an agreement in form and substance reasonably acceptable to the Master Landlord and Subtenant. Subtenant agrees
to execute and deliver such an agreement at any time within ten (10) business days after request by the Master Landlord. Subtenant
waives the provisions of any law now or later in effect that may provide Subtenant any right to terminate this Sublease or to surrender
possession of the Premises in the event any proceeding is brought by the Master Landlord to terminate the Master Lease.

 

11.         Estoppel
Certificates. Each party to this Sublease will, from time to time as requested by the other party, on not less than
ten (10) days prior written notice, execute, acknowledge, and deliver to the other party a statement in writing certifying that
this Sublease is unmodified and in full force and effect (or if there have been modifications that this Sublease is in full force
and effect as modified and stating the modifications). That statement will certify the dates to which Basic Rent, Additional Rent,
and any other charges have been paid. That statement will also state whether, to the knowledge of the person signing the certificate,
the other party is in default beyond any applicable grace period provided in this Sublease in the performance of any of its obligations
under this Sublease. If the other party is in default beyond any applicable grace period, the statement will specify each default
of which the signer then has knowledge. It is intended that this statement may be relied on by others with whom the party requesting
that certificate may be dealing.

 

12.         Assignment
or Subleasing. Subject to the rights of the Master Landlord and the restrictions contained in the Master Lease in
connection with a Transfer, Subtenant is not entitled to assign this Sublease or to sublet all or any portion of the Premises without
the prior written consent of Sublandlord. That consent may be withheld by Sublandlord in its sole discretion.

 

13.         General
Provisions.

 

13.1.          Severability.
If any provision of this Sublease or the application of any provision of this Sublease to any person or circumstance is, to
any extent, held to be invalid or unenforceable, the remainder of this Sublease or the application of that provision to persons
or circumstances other than those as to which it is held invalid or unenforceable, will not be affected, and each provision of
this Sublease will be valid and be enforced to the fullest extent permitted by law.

 

13.2.          Entire
Agreement; Waiver. This Sublease constitutes the final, complete and exclusive statement between the parties to
this Sublease pertaining to the Premises, supersedes all prior and contemporaneous understandings or agreements of the parties,
and is binding on and inures to the benefit of their respective heirs, representatives, successors, and assigns. No party has been
induced to enter into this Sublease by, nor is any party relying on, any representation or warranty outside those expressly set
forth in this Sublease. Any agreement made after the date of this Sublease is ineffective to modify, waive, release, terminate,
or effect an abandonment of this Sublease, in whole or in part, unless that agreement is in writing, is signed by the parties to
this Sublease, and specifically states that that agreement modifies this Sublease.

 

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13.3.          Captions.
Captions to the sections in this Sublease are included for convenience only and do not modify any of the terms of this Sublease.

 

13.4.          Further
Assurances. Each party to this Sublease will at its own cost and expense execute and deliver such further documents
and instruments and will take such other actions as may be reasonably required or appropriate to evidence or carry out the intent
and purposes of this Sublease.

 

13.5.          Governing
Law and Attorney’s Fees. This Sublease will be governed by and in all respects construed in accordance with
the laws of the State of California. In the event of a legal proceeding due to a breach of this Sublease, or to enforce or interpret
this Sublease, the prevailing party shall be entitled to an award of reasonable attorney’s fees, expert fees, and other costs
incurred in such legal proceeding.

 

13.6.          Consent
of Landlord. The Master Landlord’s written consent to this Sublease in accordance with the terms of the Master
Lease is a condition subsequent to the validity of this Sublease. If the Master Landlord’s consent has not been obtained
and a copy of that consent delivered to Subtenant by the fifteenth (15th) day following the date of this Sublease, Subtenant shall
thereafter have the ongoing right, subject to the terms of this Section 13.6, to terminate this Sublease pursuant to a notice (the
“Termination Notice”) so stating delivered to Sublandlord. If Sublandlord fails to deliver to Subtenant the consent
of Master Landlord to this Sublease within ten (10) days following receipt of the Termination Notice (the “Termination Date”),
this Sublease shall automatically terminate and the parties shall be released from any further obligations under this Sublease.
If, however, Sublandlord delivers to Subtenant the consent of Master Landlord on or before the Termination Date, the condition
subsequent set forth in this Section 13.6 shall be satisfied and this Sublease shall continue in full force and effect. Master
Landlord’s signature below constitutes consent to this Sublease and agreement with the terms of this Sublease.

 

[CONTINUED ONTO NEXT PAGE]

 

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13.7.          Capitalized
Terms. All terms spelled with initial capital letters in this Sublease that are not expressly defined in this Sublease
will have the respective meanings given such terms in the Master Lease.

 

The parties have executed this Sublease
as of the date specified above.

 

	“Sublandlord”	Pathway Genomics Corporation
	 	A Delaware Corporation
	 	 
	 	/s/ James Plante	 
	 	 	 
	 	James Plante	 
	 	Print Name	 
	 	President & CEO	 
	 	Title	 
	 	 
	“Subtenant”	Fabrus, Inc., a wholly-owned
	 	subsidiary of Senesco Technologies, Inc.
	 	A Delaware Corporation
	 	 
	 	/s/ James Graziano	 
	 	 	 
	 	James Graziano	 
	 	Print Name	 
	 	Chief Technology Officer	 
	 	Title	 

 

MASTER LANDLORD’S CONSENT

 

Master Landlord hereby consents to this
Sublease pursuant to Section 13.6 above.

 

	 	Alexandria Real Estate Equities
	 	 
	 	/s/ Gary Dean	 
	 	 	 
	 	Gary Dean	 
	 	Print Name	 
	 	Vice President	 
	 	Title	 

 

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EXHIBIT A

 

Master Lease

 

    	 

    	 

    

 

EXHIBIT B

Legal Description of Premises

 

    	 

    	 

    

 

EXHIBIT C

List of Furniture and EquipmentExhibit
10.2 

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

COLLABORATION
AND OPTION AGREEMENT

 

This
Collaboration and Option Agreement (the “Agreement”) is entered
into as of December 18, 2014 (the “Effective Date”) by and between Fabrus,
Inc., a Delaware corporation (“Company”), having an address
of 4045 Sorrento Valley Blvd, San Diego, California 92121, U.S.A., and CNA
Development, LLC,
a Delaware Limited Liability Company corporation with its office at Street C #475, Los Frailes Industrial Park, Guaynabo PR 00969
(“Janssen”).

 

Recitals

 

Whereas,
Company has expertise relating to its spatially addressed library of antibodies and cell-based
screening technology to reveal certain antibodies against targets of interest;

 

Whereas,
Janssen is engaged in the research, development and commercialization of pharmaceutical
products;

 

Whereas,
Company and Janssen wish to enter into a collaboration to research and develop antibodies from Company’s spatially addressed
library against targets of interest to Janssen on the terms and conditions set forth herein; and

 

Whereas,
Company wishes to grant to Janssen, and Janssen wishes to accept, an exclusive, time-limited option from Company to obtain certain
license rights under Company’s interest in the Joint Foreground (as defined below) to develop and commercialize the Licensed
Products (as defined in Exhibit C)
on a worldwide basis in accordance with the terms and conditions of this Agreement, subject to the terms and conditions set forth
herein.

 

Agreement

 

Now,
Therefore, in consideration of the foregoing premises and the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending
to be legally bound, the parties agree as follows:

 

1.           Definitions

 

1.1           “Additional
Target” shall mean any of the *** that may to be designated by Janssen and accepted by Company, in accordance with Section
2.2.

 

1.2           “Affiliate”
shall mean, in reference to a particular corporation or other entity, any other entity that directly or indirectly controls or
is controlled by or is under common control with such entity. For purposes of this definition, “control”
or “controlled” shall mean ownership, directly or indirectly, of more than fifty percent (50%) of the
shares of stock entitled to vote for the election of directors in the case of a corporation, or more than fifty percent (50%)
of the equity interest in the case of any other type of legal entity (or if the jurisdiction where such corporation or other entity
is domiciled prohibits foreign ownership of such entity, the maximum foreign ownership interest permitted under such laws, provided
that such ownership interest provides actual control over such entity), status as a general partner in any partnership, or any
other arrangement whereby an entity controls or has the right to control the Board of Directors or equivalent governing body of
the entity.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

1.3           “Antibody”
shall mean a molecule or gene encoding such a molecule comprising or containing at least one immunoglobulin variable domain or
parts of such domain.

 

1.4           “Background”
shall mean Company Background or Janssen Background, as applicable.

 

1.5           “Calendar
Quarter” shall mean a calendar quarter based on the Janssen Universal Calendar.

 

1.6           “Collaboration
Antibody” shall mean any Antibody identified, discovered, validated or optimized in the performance the Collaborative
Activities that specifically binds to a Designated Target, and any fragment, modification or variant of such Antibody that ***
specifically binds to such Designated Target.

 

1.7           “Collaborative
Activities” shall mean all activities to be undertaken by or on behalf of the parties as contemplated by the Collaborative
Research Plan for each Designated Target, including any screening, identifying, validating and optimizing of Antibodies from Company’s
library of Antibodies that specifically bind to a Designated Target.

 

1.8           “Collaborative
Research Plan” or “CRP” shall mean the high-level, summary workplan describing the research, discovery
and pre-clinical development activities to be performed by or on behalf of the parties with respect to screening, identifying,
validating and optimizing Antibodies from Company’s library of Antibodies directed to any Designated Target, including the
budget for such activities, as such plan may be amended in accordance with the terms of this Agreement.

 

1.9           “Commercially
Reasonable Efforts” shall mean that level of efforts and resources consistent with the efforts the applicable Party
devotes to the research or development of a similarly situated pharmaceutical product at a similar stage of research or development,
taking into account measures of patent coverage, relative safety and efficacy, the strategic value resulting from its own research
efforts, product profile, the competitiveness of the marketplace, the proprietary position of such product, the regulatory structure
involved, the market potential of such product and other relevant factors, including comparative technical, legal, scientific,
and/or medical factors, based on conditions then prevailing.

 

1.10         “Company
Background” shall mean any Materials or Information (including data) that is controlled by Company prior to, on or after
entering into this Agreement and is reasonably necessary or useful for carrying out the Collaborative Research Plan, and Intellectual
Property Rights in or to such Materials or Information, including any such Materials or Information relating to Company Platform,
but excluding (a) all Foreground and (b) any technology or Intellectual Property Rights in-licensed under the In-License
Agreement.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

1.11         “Company
Foreground” shall mean all Foreground to the extent related solely to Company Background, including any improvements
or enhancements to Company Platform including any Intellectual Property Rights to any such Foreground or Foreground improvements
or enhancements.

 

1.12         “Company
Indemnitee” shall have the meaning provided in Section 8.2.

 

1.13         “Company
Platform” shall mean Company’s proprietary target discovery platform that allows multiplexed screening for new
Antibodies.

 

1.14         “Confidential
Information” shall mean all Information generated by or on behalf of a party or its Affiliates or which one party
or any of its Affiliates furnishes or otherwise makes available to the other party or its Affiliates, whether made available orally,
in writing, or in electronic form.

 

1.15         “Confidentiality
Agreement” shall mean the Nondisclosure Agreement between Company and Janssen dated August 23, 2013, as amended
August 17, 2014.

 

1.16         “Control”
shall mean, with respect to any Information, Patent or other intellectual property, possession by a party of the ability (whether
by ownership, license or otherwise, but without taking into account any rights granted by one party to the other party under the
terms of this Agreement) to grant access, a license or a sublicense to such Information, Patent or other intellectual property
right without violating the terms of any agreement or other arrangement with any Third Party. If a Party has the ability to grant
a non-exclusive license or sublicense (but not an exclusive license or sublicense) under any such Information, Patent or other
intellectual property, and this Agreement specifies that an exclusive license is granted, such Information, Patent or other intellectual
property shall be considered “Controlled” and such license shall be a non-exclusive license to the extent required
to comply with the agreement with or legally binding obligation to the relevant Third Party.

 

1.17         “CPR
Mediation Procedures” shall have the meaning provided in Section 9.2(b).

 

1.18         “CPR
Rules” shall have the meaning provided in Section 9.2(c).

 

1.19         “CRP
Costs” shall have the meaning provided in Section 2.7.

 

1.20         “Designated
Target” shall mean any of Target 1, Target 2, Target 3 and any Additional Target.

 

1.21         “Dispute”
shall mean any dispute, claim, or controversy arising from or regarding this Agreement, including the interpretation, application,
breach, termination or validity of any provision hereof.

 

1.22         “Excluded
Claim” shall have the meaning provided in Section 9.2(a).

 

    	3

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

1.23         “Foreground”
shall mean all Materials or Information (including data), whether patentable or not, conceived or reduced to practice, whether
solely by or on behalf of Company, solely by or on behalf of Janssen or jointly by or on behalf of Company and Janssen, in the
course of activities contemplated by this Agreement, including Collaborative Activities, including any Collaboration Antibody,
and Intellectual Property Rights in or to any of the foregoing.

 

1.24         “Hits”
shall have the meaning provided in Section 2.1(a).

 

1.25         “Information”
shall mean all tangible and intangible techniques, technology, practices, , discoveries, inventions (whether patentable or not),
methods, protocols, processes, knowledge, know-how, skill, experience, data (including pharmacological, toxicological, clinical,
analytical and quality control data), regulatory filings, software, algorithms and other scientific, marketing, financial or commercial
information or data.

 

1.26         “In-License
Agreement” shall mean the license agreement between Company and The Scripps Research Institute, dated August 8, 2014,
as may be amended, a copy (with proprietary information redacted) of which has been provided to Janssen.

 

1.27         “Intellectual
Property Rights” or “IPR” shall mean Patents, Information, know-how, copyright and trade secrets
and any other intellectual property or intangible right of any kind, excluding trademarks and trade dress.

 

1.28         “Janssen
Background” shall mean any Materials or Information (including data) that is controlled by Janssen prior to, on or after
entering into this Agreement and is necessary or useful for carrying out the Collaborative Research Plan, and Intellectual Property
Rights in or to such Materials or Information, but excluding all Foreground.

 

1.29         “Janssen
Foreground” shall mean all Foreground to the extent related solely to Janssen Background including any Intellectual
Property Rights to any such Foreground.

 

1.30         “Janssen
Indemnitee” shall have the meaning provided in Section 8.1.

 

1.31         “Joint
Foreground” shall mean all Foreground that is not Janssen Foreground or Company Foreground including any Intellectual
Property Rights thereto.

 

1.32         “License”
shall have the meaning provided in Section 3.1.

 

1.33         “License
Agreement” shall have the meaning provided in Section 3.1.

 

1.34         “License
Option” shall have the meaning provided in Section 3.1.

 

1.35         “License
Option Term” shall have the meaning provided in Section 3.2.

 

1.36         “Losses”
shall have the meaning provided in Section 8.1.

 

    	4

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

1.37         “Materials”
shall mean any all biological, chemical or other materials and any constituents, progeny, mutants, derivatives or replications
thereof or therefrom.

 

1.38         “Notice
Date” shall have the meaning provided in Section 9.2(b).

 

1.39         “Option
Exercise Payment” shall have the meaning provided in Section 3.2.

 

1.40         “Option
Notice” shall have the meaning provided in Section 3.2.

 

1.41         “Patents”
shall mean (a) all patents, including design patents, certificates of invention, applications for certificates of invention,
priority patent filings and patent applications, including provisional patent applications and design patent applications, and
(b) any renewal, divisional, continuation, continuation-in-part, or request for continued examination of any of such patents,
certificates of invention and patent applications, and any and all patents or certificates of invention issuing thereon, and any
and all reissues, reexaminations, extensions, certificates of correction, divisions, renewals, substitutions, confirmations, registrations,
revalidations, revisions, and additions of or to any of the foregoing.

 

1.42         “Research
Term” shall mean, with respect to a given CRP for a Designated Target, the time period agreed by the parties for the
performance of such CRP, commencing on the date indicated in such CRP (but no earlier than the Effective Date) and ending on the
date indicated in such CRP, which shall in no event exceed *** months in each case from the commencement date indicated
in such CRP unless agreed in writing by the parties, unless earlier terminated upon termination of this Agreement.

 

1.43         “Results”
shall mean all results, of any nature and form, including any Information, Materials and deliverables.

 

1.44         “SEC”
shall have the meaning provided in Section 6.5(a).

 

1.45         “Stage
1” shall have the meaning provided in Section 2.1(a).

 

1.46         “Stage
2” shall have the meaning provided in Section 2.1(b).

 

1.47         “Stage
3” shall have the meaning provided in Section 2.1(c).

 

1.48         “Tax
or Taxes” shall mean any present or future taxes, levies, imposts, duties, charges, assessments or fees of any nature
(including any interest thereon).

 

1.49         “Target
1” shall mean ***.

 

1.50         “Target
2” shall mean ***.

 

1.51         “Target
3” shall mean ***.

 

    	5

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

1.52         “Target
Designation Period” shall mean the *** period starting at the conclusion of the Research Term for a CRP, unless
earlier terminated upon termination of this Agreement.

 

1.53         “Term”
shall have the meaning provided in Section 7.1.

 

1.54         “Third
Party” shall mean any entity other than Company or Janssen or an Affiliate of Company or Janssen.

 

2.           Collaborative
Activities

 

2.1           Collaborative
Research Plans. The research, discovery and pre-clinical development activities to be undertaken by or on behalf of the parties
for the purpose of screening, identifying, validating and optimizing Antibodies from Company’s spatially addressed library
directed to Designated Targets are set forth in the Collaborative Research Plans on a Designated Target-by-Designated Target basis.
Company and Janssen shall work collaboratively to design and carry out the CRP for each Designated Target. For the avoidance of
doubt, one CRP may cover more than a single target. A CRP may be amended only by written agreement of Company and Janssen (except
for modification of the related budget to the extent permitted by Section 2.7). The initial Collaborative Research Plan has
been agreed to by the parties with respect to Target 1 and attached hereto as Exhibit
A, the form of which shall be used for the CRP(s) for Target 2, Target 3 and Additional Targets. Without limiting the
foregoing, the parties envision the activities set forth in the Collaborative Research Plans to be comprised of the following
steps:

 

 (a)          (i)
screening of cell lines to identify initial Antibody hits from Company’s spatially arrayed library against the applicable
Designated Target (“Hits”) and (ii) evaluation of strength, specificity, sequences and expression levels
of Hits conducted by or on behalf of Company or Janssen (“Stage 1”);

 

 (b)          (i)
joint validation of Hits from Stage 1 and (ii) confirmation of binding specificity conducted by or on behalf of Company or Janssen
(“Stage 2”); and

 

 (c)          (i)
optimization of validated Hits from Stage 2 and (ii) completion of full developability experiments conducted by or on behalf of
Company or Janssen (“Stage 3”).

 

2.2           Additional
Targets. During the Target Designation Period, Janssen shall have the right, but not the obligation, to designate ***
Additional Targets, in addition to Target 1, Target 2 and Target 3, by providing written notice to Company identifying the proposed
target (each an “Additional Target Designation Notice”); provided that such Additional Target Designation
Notice is delivered to Company no later than *** from the conclusion of the Research Term of the last-to-end CRP that is
currently in effect. Company shall provide Janssen written notice within thirty (30) days after receipt of the Additional Target
Designation Notice whether it accepts the proposed target identified in such Additional Target Designation Notice as an Additional
Target, such acceptance not to be unreasonably withheld. Following acceptance of an Additional Target by Company, the parties
shall work collaboratively to design and agree on a CRP for such Additional Target, including an associated budget and a list
of Materials for Collaborative Activities relating to such Additional Target.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

2.3           Performance
of Collaborative Activities. During the Research Term, each party shall use Commercially Reasonable Efforts to perform
the Collaborative Activities. Each party may perform some or all of the Collaborative Activities through one or more subcontractors,
including through its respective Affiliates; provided that each party shall remain responsible for the performance by its subcontractors
and the compliance of its subcontractors with the provisions of this Agreement in connection with such performance. The parties
acknowledge that Company’s obligations to perform the Collaborative Activities shall be subject to compliance by Janssen
with its payment obligations in this Agreement. Each party shall perform the Collaborative Activities in accordance with this
Agreement and all applicable laws, rules and regulations, and shall maintain records, in sufficient detail and in good scientific
manner appropriate for patent and regulatory purposes, which shall fully and properly reflect all work done and results achieved
in its performance of the Collaborative Activities.

 

2.4           Materials.
All Materials provided by one party to another party as contemplated by this Agreement will remain the sole property of the
providing party, will not be used or delivered to or for the benefit of any Third Party without the prior written consent of the
providing party, and will be used only for the Collaborative Activities and in compliance with all applicable laws, rules and
regulations. Each party acknowledges that any Materials provided to it by or on behalf of the other party (a) are experimental
in nature and not for use in humans, and (b) must be used with prudence and appropriate caution in any experimental work
because not all of their characteristics may be known. Except as expressly set forth herein, THE MATERIALS ARE PROVIDED “AS
IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR
OF FITNESS FOR ANY PARTICULAR PURPOSE OR ANY WARRANTY THAT THE USE OF THE MATERIALS WILL NOT INFRINGE OR VIOLATE ANY PATENT OR
OTHER PROPRIETARY RIGHTS OF ANY THIRD PARTY.

 

2.5           Limited
Research License. Subject to the terms and conditions of this Agreement, (a) Company hereby grants to Janssen
a non-exclusive, royalty-free license, with no right to sublicense except to Janssen’s Affiliates and subcontractors who
are conducting Collaborative Activities, under Company Foreground and Company Background (excluding Company Platform) that are
reasonably necessary or useful for Janssen to practice in order to perform its obligations under the applicable CRP, solely to
conduct Collaborative Activities to be conducted by Janssen under such CRP during the applicable Research Term, and (b) Janssen
hereby grants to Company a non-exclusive, royalty-free license, with no right to sublicense except to Company’s Affiliates
and subcontractors that are conducting Collaborative Activities, under Janssen Foreground and Janssen Background that are reasonably
necessary or useful for Company to practice in order to perform its obligations under the applicable CRP, solely to conduct Collaborative
Activities to be conducted by Company under such CRP during the applicable Research Term. Each party shall have the right to practice
the Joint Foreground to conduct Collaborative Activities to be conducted by such party under such CRP during the applicable Research
Term.

 

    	7

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

2.6           Reports.
Each party shall keep the other party reasonably informed and updated regarding the Collaborative Activities performed by
it or on its behalf and provide the other party such other information required under the Collaborative Research Plan relating
to the progress of the goals or performance of the Collaborative Activities. The parties shall meet on a regular basis, but in
any event no less than once per month, via teleconference, videoconference or face-to-face meetings to discuss progress of the
CRP(s). Upon achievement of a research and development milestone event defined in the applicable CRP, Company shall submit to
Janssen a written status report describing the research and the Results of such milestone event and, if requested by Janssen,
transfer to Janssen any deliverable associated with such milestone event. Company and Janssen shall work together to prepare and
acknowledge a final study report as indicated in each CRP, and if requested by Janssen, Company shall provide a description of
each Collaboration Antibody as agreed to by the parties and including the amino acid sequence of such Collaboration Antibody.

 

2.7           Funding
of Collaborative Activities and Reimbursement. Janssen shall reimburse
Company for direct and indirect costs incurred by Company in the performance of the Collaborative Activities (“CRP
Costs”). The budget for the CRP for Targets 1, 2 and 3 has been agreed to by the parties and attached hereto as
Exhibit B. The budget for Target
4 and Additional Targets shall include direct and indirect costs and rates such as those included in Exhibit
B and shall be included in the CRP(s) for Target 4 and Additional Target(s). During the Research Term, Company shall
invoice Janssen on a Calendar Quarterly basis for CRP Costs incurred during such quarter in performing Collaborative Activities
in accordance with the applicable budget as may be increased by an amount up to ten percent (10%) of such budget. Any modification
of the budget to increase such budget by more than ten percent (10%) shall be subject to written approval by Janssen. Janssen
shall pay such invoices within sixty (60) days of receipt of such invoice. Invoices must be sent to the Johnson & Johnson
Accounts Payable Department via www.ap.jnj.com if Company establishes a web invoice account or sent by postal mail to the
address indicated in the PO. Company may contact the Johnson & Johnson Accounts Payable Hotline at (877) 557-4487 with any
questions related to the status of payments on invoices. Copies of all invoices shall be sent concurrently to: Janssen CFC PR
/ CNA Development LLC, Attention - *** Road #2, Km. 45.6, Bo. Campo Alegre, Manatí, PR 00674, ***. Janssen
reserves the right to return to Company unprocessed and unpaid those invoices that do not reference the applicable PO number.
Invoices shall include the nature and amount of research and development services rendered or deliverables provided and Company
will provide proper support for invoiced FTE costs. Janssen Research & Development, L.L.C. may act as paying agent for Janssen
under this Agreement.

 

    	8

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

2.8          Target
Exclusivity.

 

(a)          Company.
On a Designated Target-by-Designated Target basis, during the License Option Term with
respect to a Designated Target, Company shall not, alone or in collaboration with an Affiliate or Third Party, conduct any work
on its own behalf, for, or with a Third Party, on such Designated Target. In no event shall this Section 2.8(a) apply to
any acquirer of Company or any Affiliate of such acquirer (other than Company) so long as Company does not engage any such activities
with or on behalf of such acquirer or its Affiliate and no Company Background, Company Foreground or Joint Foreground is used
by such acquirer or its Affiliate in connection with such activities.

 

(b)          Janssen.
At any time during or after the Term, Janssen and its Affiliates are authorized to work,
independently of Company, alone or in collaboration with an Affiliate or Third Party, to discover research, develop, manufacture
and commercialize products (other than any Collaboration Antibody) directed against any Designated Target.

 

2.9          Intellectual
Property. 

 

(a)          Inventions.
Inventorship of inventions made in the course of the Collaborative Activities shall be determined in accordance with U.S.
patent law, regardless of where any such invention is made.

 

(b)          Ownership
of Background. As between the parties, (i) Janssen has, and shall retain, all right, title and interest in and to Janssen
Background, and (ii) Company has, and shall retain, all rights in and to Company Background.

 

(c)          Ownership
of Foreground. Company shall own all right, title and interest in and to Company Foreground. Janssen shall own all right,
title and interest in and to Janssen Foreground. Company and Janssen shall own jointly all right, title and interest in and to
Joint Foreground. Each party hereby assigns to the other party such rights as it may acquire in Foreground as may be necessary
or appropriate to cause such Foreground to be owned by the applicable party or by the parties jointly as provided in this Section 2.9(c),
or if assignment is not permitted by law, waives such rights as to the other party or grants to the other party an exclusive (or
co-exclusive in the case of Joint Foreground), fully-paid, perpetual, irrevocable, worldwide license under such rights (with the
right to sublicense) for any and all purposes. Each party agrees to execute any assignment or other documents reasonably necessary
to convey to the other party any right, title or other interest to Foreground as necessary to effect the ownership of Foreground
as provided in this Section 2.9(c), and, upon request, will assist the other party in connection with the preparation and
prosecution of any application for Intellectual Property Rights in or to any Foreground owned by such other party pursuant hereto.

 

(d)          Limitations
on Joint Foreground. Janssen shall have the right to practice and use the Joint Foreground solely for internal research purposes
whether or not it exercises the commercial License Option and takes a License to Company’s interest in the Joint Foreground
(as described in Section 3.2), and Company shall have the right to practice and use the Joint Foreground solely for internal
research purposes. Any rights by Janssen to commercialize or otherwise use the Joint Foreground in addition to internal research
purposes shall be arranged under Section 3.2.

 

    	9

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

(e)          Prosecution
of Foreground. Company shall, at its own cost, be responsible for filing, prosecuting, maintaining, defending and enforcing
Company Foreground IPR. Janssen shall, at its own cost, be responsible for filing, prosecuting, maintaining, defending and enforcing
Janssen Foreground IPR and Joint Foreground IPR. Janssen shall keep Company informed regarding the filing, prosecution, maintenance,
defense and enforcement of Joint Foreground IPR, and shall in good faith take into consideration any comments from Company with
respect thereto. If (i) Janssen decides not to file a Patent application within Joint Foreground IPR, or (ii) ceases
to diligently pursue prosecution or procurement of Joint Foreground IP, or fails to maintain the same, in any country, Janssen
shall notify Company in writing in sufficient time for Company to be able to take action, and Company shall have the right, at
its own discretion and cost and subject to the License Option, to file Patent applications, control prosecution and procurement,
and maintain procured Patents within such Joint Foreground IPR. If Janssen chooses not to file a Patent application within Joint
Foreground IPR and then exercises the License Option after Company filed a Patent application within such Joint Foreground IPR,
then Janssen shall reimburse Company for reasonable costs incurred by Company with respect to filing and prosecuting such Joint
Foreground IPR concurrently with execution of the License Agreement.

 

(f)          Results.
Company and Janssen shall jointly own the Results and any reports describing the Results. Each party shall be free to use
the Results and such reports for its any purpose whatsoever.

 

2.10         Reservation
of Rights. Subject to the License Option and to any licenses that are or may be granted
pursuant to Section 2.9 or any License Agreement and the other terms and conditions of this Agreement, (a) Company will
retain all rights under Company Background and Company Foreground and Company’s interest in Joint Foreground, and Janssen
agrees not to practice any of the foregoing, except pursuant to the licenses expressly granted to Janssen in this Agreement or
the License Agreement, and (b) Janssen will retain all rights under Janssen Background and Janssen Foreground and Janssen’s
interest in Joint Foreground, and Company agrees not to practice any of the foregoing, except pursuant to the licenses expressly
granted to Company in this Agreement. No right or license under any Intellectual Property Rights of either party is granted or
shall be granted by implication. All such rights or licenses are or shall be granted only as expressly provided in the terms of
this Agreement or the License Agreement.

 

3.           License
Option

 

3.1           Grant
of License Option. On a Designated Target-by-Designated Target basis and subject to the terms and conditions of this Agreement,
Company hereby grants to Janssen the exclusive option to obtain (a) an exclusive, worldwide, royalty-bearing license, with
the right to sublicense, under Company’s interest in the Joint Foreground with respect to the applicable Designated Target
to make, have made, use, import, offer for sale, sell, and have sold Licensed Products in the Field (as such terms are defined
in Exhibit C) and (b) a
non-exclusive, worldwide, royalty-bearing license, with the right to sublicense, under any Company Background and Company Foreground
with respect to the applicable Designated Target (but only to the extent such Company Background and Company Foreground are reasonably
necessary to make, have made, use, import, offer for sale, sell, and have sold Licensed Products in the Field (as such terms are
defined in Exhibit C)) to
make, have made, use, import, offer for sale, sell, and have sold Licensed Products in the Field (the “License”)
pursuant to a written agreement (the “License Agreement”) on mutually agreed terms and conditions, including
the terms set forth on Exhibit C
(such option, the “License Option”). For clarification, nothing in this Agreement shall prevent Company
from negotiating or completing any transaction for the sale of all or substantially all of the business or assets of Company,
whether by merger, sale of stock, sale of assets or otherwise; provided, that any successor to Company in such transaction shall
remain subject to the License Option during the License Option Term.

 

    	10

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

3.2           Exercise
of License Option. On a Designated Target-by-Designated Target basis and subject to the terms and conditions of this Agreement,
Janssen may exercise the License Option with respect to a Designated Target at any time during the applicable Research Term and
for a period of *** thereafter unless earlier terminated upon written notice by Janssen to Company (the “License
Option Term”) by sending to Company written notice of such exercise (“Option Notice”)
and payment of *** (the “Option Exercise Payment”). If Janssen exercises the License Option during
the License Option Term in accordance with this Section 3.1(b), the parties shall promptly negotiate in good faith the terms
of the License Agreement (including those terms set forth in Exhibit
C). In the event the parties are unable to enter License Agreement within ninety (90) days following the exercise of
the License Option (or such longer period as may be agreed by the parties in writing), either party shall have the right to refer
the matter to a third party mediator mutually agreed by the parties to determine the terms and conditions of the License Agreement,
and the parties hereby agree ***.

 

3.3           Effect
of Expiration or Termination of License Option Term. If Janssen does not exercise the License Option during the License Option
Term in accordance with this Section 3.3, the License Option shall terminate and be of no further force or effect. In addition,
upon termination of such License Option, Company and Janssen shall negotiate in good faith regarding the license by Janssen to
Company of Janssen’s interest in the Joint Foreground on commercially reasonable terms to be agreed in good faith by the
parties.

 

4.           Payments

 

4.1           Access
Fee. Within fifteen (15) days after the Effective Date, Janssen shall pay Company a one-time, non-refundable access fee of
***. Company shall invoice Janssen for such payment.

 

4.2           Project
Initiation Fee. Upon initiation of each CRP, Janssen shall pay Company a one-time, non-refundable project initiation fee of
***. Company shall invoice Janssen for such payment, and Janssen shall pay within fifteen (15) days after receipt of invoice.

 

4.3           Payment
Mechanics.

 

 (a)          Manner
and Place of Payment. All payments hereunder shall be payable in U.S. dollars. All payments owed under this Agreement shall
be made by wire transfer in immediately available funds to a bank and account designated in writing by the party receiving payment,
unless otherwise specified in writing by such party.

 

    	11

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

 (b)          Income
Tax Withholding. Janssen will make all payments to Company under this Agreement without deduction or withholding for Taxes
except to the extent that any such deduction or withholding is required by law in effect at the time of payment. Any Tax required
to be withheld on amounts payable under this Agreement will be paid by Janssen on behalf of Company to the appropriate governmental
authority, and Janssen will furnish Company with proof of payment of such Tax. Any such tax required to be withheld will be an
expense of and borne by Company. If any such tax is assessed against and paid by Janssen, then Company will indemnify and hold
harmless Janssen from and against such tax. Janssen and Company will cooperate with respect to all documentation required by any
taxing authority or reasonably requested by Janssen to secure a reduction in the rate of applicable withholding Taxes. On the
date of execution of this Agreement, Company will deliver to Janssen an accurate and complete Internal Revenue Service Form W-9.

 

 (c)          Late
Payments. In the event that any undisputed payment due under this Agreement is not made when due, the payment shall accrue
interest from the date due at the rate of one and one-half percent (1.5%) per month; provided, however, that in no event shall
such rate exceed the maximum legal annual interest rate. The payment of such interest shall not limit the party to whom payment
is due from exercising any other rights it may have as a consequence of the lateness of any payment.

 

5.           Representations
and Warranties

 

5.1           Mutual
Representations and Warranties. Each party represents and warrants to the other party as of the Effective Date that:

 

 (a)          Organization.
It is duly organized and validly existing under the laws of its jurisdiction of incorporation or formation, and has full corporate
or other power and authority to enter into this Agreement and to carry out the provisions hereof.

 

 (b)          Authorization.
It is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person or persons
executing this Agreement on its behalf has been duly authorized to do so by all requisite corporate or partnership action.

 

 (c)          Binding
Agreement. This Agreement is legally binding upon it, enforceable in accordance with its terms, and does not conflict with
any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any
law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it.

 

    	12

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

 (d)          No
Conflict. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby do not
and shall not (i) conflict with or result in a breach of any provision of its organizational documents, (ii) result
in a breach of any agreement to which it is a party; or (iii) to its knowledge, violate any applicable laws, rules or regulations.

 

 (e)          Agreements
with Employees and Contractors. All of such party’s employees or contractors acting on its behalf pursuant to this Agreement
are and will be obligated under a binding written agreement to (i) assign to such party all Information generated in the course
of performing activities on its behalf pursuant to this Agreement, and (ii) comply with obligations of confidentiality and non-use
consistent with those set forth in Article 6.

 

 (f)          No
Debarment. Except with regard to Janssen as reflected by, and subject to the terms of, the Corporate Integrity Agreement between
The Office of Inspector General of the Department of Health and Human Services and Johnson & Johnson dated October 31, 2013
(publicly available at https://www.janssenbiotech.com/company/pharmaceutical-affiliate-corporate-integrity-agreement),
as of the Effective Date, neither party is debarred under the United States Federal Food, Drug and Cosmetic Act or comparable
laws in any other country or jurisdiction, and it does not, and will not during the Term, employ or use the services of any person
or entity who is debarred, in connection with the Collaborative Activities. In the event that either party becomes aware of the
debarment or threatened debarment of any person or entity providing services to such party, including the party itself and its
Affiliates, which directly or indirectly relate to activities under this Agreement, the other party shall be immediately notified
in writing.

 

5.2           Disclaimer.
Except as expressly set forth herein, EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED,
INCLUDING WITHOUT LIMITATION THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OF THE
INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES.

 

6.           Confidentiality

 

6.1           Confidential
Information. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing by the parties, the
parties agree that, during the Term and for ten (10) years thereafter, each party (in such capacity, the “receiving
party”) shall keep confidential and shall not publish or otherwise disclose and shall not use for any purpose other
than as expressly provided for in this Agreement or any other written agreement between the parties any Confidential Information
of the other party (in such capacity, the “disclosing party”). For clarification, (a) all Company
Foreground shall be Confidential Information of Company and Company shall be considered the disclosing party and Janssen shall
be considered the receiving party with respect thereto; (b) all Janssen Foreground shall be Confidential Information of Janssen
and Janssen shall be considered the disclosing party and Company shall be considered the receiving party with respect thereto;
and (c) all Joint Foreground and Results shall be Confidential Information of both Company and Janssen and Company and Janssen
shall both be considered the disclosing party and the receiving party with respect thereto. Except as expressly permitted in this
Agreement, the receiving party may only disclose Confidential Information of the disclosing party to employees, agents, consultants
and other representatives of the receiving party to the extent reasonably necessary for the purposes of, and for those matters
undertaken pursuant to, this Agreement; provided that such persons and entities are bound to maintain the confidentiality of the
Confidential Information in a manner consistent with the confidentiality provisions of this Agreement. The receiving party will
use at least the same standard of care as it uses to protect proprietary or confidential information of its own (but not less
than reasonable care) to ensure that its employees, agents, consultants and other representatives do not disclose or make any
unauthorized use of the Confidential Information of the disclosing party. The receiving party will promptly notify the disclosing
party upon discovery of any unauthorized use or disclosure of the Confidential Information of the disclosing party.

 

    	13

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

6.2          Exceptions.
Confidential Information shall not include any information which the receiving party can demonstrate by competent evidence:
(a) is now, or hereafter becomes, through no act or failure to act on the part of the receiving party, generally known or
available; (b) is known by the receiving party at the time of receiving such information, as evidenced by its records; (c) is
hereafter furnished to the receiving party by a Third Party, as a matter of right and without restriction on disclosure; or (d) is
independently discovered or developed by the receiving party without the use of Confidential Information of the disclosing party.
The exceptions in Section 6.2(b) and (d) shall not apply with respect to Company as the receiving party with respect to Janssen
Foreground or Joint Foreground and shall not apply with respect to Janssen as the receiving party with respect to Company Foreground
or Joint Foreground.

 

6.3          Authorized
Disclosure. The receiving party may disclose Confidential Information of the disclosing party as expressly permitted by this
Agreement and if and to the extent such disclosure is reasonably necessary in the following instances:

 

(a)          prosecuting
or defending litigation as permitted by this Agreement;

 

(b)          complying
with applicable court orders or governmental regulations; and

 

(c)          disclosure
in confidence to actual or bona fide potential Third Party investors or other Third Party transactional partners and to their
bankers, lawyers, accountants, agents, provided, in each case that each such Third Party investor or other transactional partner
or advisor thereof is bound to maintain the confidentiality of the Confidential Information in a manner consistent with the confidentiality
provisions of this Agreement.

 

Notwithstanding
the foregoing, in the event the receiving party is required to make a disclosure of the disclosing party’s Confidential
Information pursuant to Section 6.3(a) or (b), it will, except where impracticable, give reasonable advance notice to the
disclosing party of such disclosure and use efforts to secure confidential treatment of such information at least as diligent
as the receiving party would use to protect its own confidential information, but in no event less than reasonable efforts. In
any event, the receiving party agrees to take all reasonable action to avoid disclosure of Confidential Information of the disclosing
party.

 

    	14

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

6.4          Confidentiality
of this Agreement and its Terms. Except as otherwise provided in this Article 6, each party agrees not to disclose to
any Third Party the existence of this Agreement or the terms of this Agreement without the prior written consent of the other
party hereto, except that each party may disclose the terms of this Agreement that are not otherwise made public as contemplated
by Section 6.5 as permitted under Section 6.3.

 

6.5          Publicity.

 

(a)          Press
Releases. Subject to the conditions below in this paragraph, Janssen consents to Company’s issuance of a press release
after execution of this Agreement in a form to be agreed by the parties. Except for such press release and as required by law
(including disclosure requirements of the U.S. Securities and Exchange Commission (“SEC”), the NASDAQ
stock exchange or any other stock exchange on which securities issued by a party or its Affiliates are traded), neither party
shall make any other public announcement concerning this Agreement or the subject matter hereof without the prior written consent
of the other, which shall not be unreasonably withheld or delayed; provided, that it shall not be unreasonable for
a Party to withhold consent with respect to any public announcement containing any of such Party’s Confidential Information.
In the event of a required public announcement, to the extent practicable under the circumstances, the Party making such announcement
shall provide the other Party with a copy of the proposed text of such announcement sufficiently in advance of the scheduled release
to afford such other Party a reasonable opportunity to review and comment upon the proposed text.

 

(b)          Filing
of Agreement. The parties shall coordinate in advance with each other in connection with the filing of this Agreement (including
redaction of certain provisions of this Agreement) with the SEC, the NASDAQ stock exchange or any other stock exchange or governmental
agency on which securities issued by a party or its Affiliate are traded, and each party shall use reasonable efforts to seek
confidential treatment for the terms proposed to be redacted; provided, that each party shall ultimately retain control over what
information to disclose to the SEC, the NASDAQ stock exchange or any other stock exchange or governmental agency, as the case
may be, and provided further that the parties shall use their reasonable efforts to file redacted versions with any governing
bodies which are consistent with redacted versions previously filed with any other governing bodies. Other than such obligation,
neither party (nor its Affiliates) shall be obligated to consult with or obtain approval from the other party with respect to
any filings to the SEC, the NASDAQ stock exchange or any other stock exchange or governmental agency.

 

6.6          Publication.
Company and Janssen may jointly publish regarding the Foreground after prior concurrence on content and timing of such publication.
Each party shall individually have the right to issue such publication, subject to the following: (a) if a party decides to publish,
it shall provide the other party with a complete draft of any proposed publication sixty (60) days in advance of the proposed
submission date; (b) each party may request, and the other party hereby agrees to, delay such proposed publication for an additional
period of thirty (30) days in order to remove the non-publishing party’s Confidential Information from the proposed publication
prior to publication; and (c) Janssen will have an additional period of ninety (90) days in order to apply for a patent for any
invention described in any publication proposed by Company, or to use or add Information in support of or to (an) existing patent
application(s).

 

    	15

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

6.7          Equitable
Relief. Given the nature of the Confidential Information and the competitive damage that could potentially result to the disclosing
party upon authorized disclosure, use or transfer of its Confidential Information to any Third Party, the parties agree that monetary
damages may, in certain circumstances not be a sufficient remedy for any breach of this Article 6. In addition to all other
remedies, the disclosing party may, under such specific circumstances be entitled to seek specific performance and injunctive
and other equitable relief as a remedy for any breach or threatened breach of this Article 6.

 

7.           Term
and Termination

 

7.1          Term.
The term of this Agreement shall commence on the Effective Date and continue until the end of the last License Option Term,
subject to earlier termination pursuant to Section 7.2 (the “Term”).

 

7.2          Early
Termination.

 

(a)          Termination
for Cause. 

 

(i)          A
party shall have the right to terminate this Agreement upon written notice to the other party if such other party is in material
breach of this Agreement and has not cured such breach within sixty (60) days (ten (10) days with respect to any undisputed payment
breach) after written notice from the terminating party requesting cure of such breach. Any such termination shall become effective
at the end of such sixty (60) day (ten (10) day with respect to any undisputed payment breach) period unless the breaching party
has cured any such breach prior to the end of such period.

 

(ii)         A
party shall have the right to terminate this Agreement upon written notice to the other party upon the bankruptcy, dissolution
or winding up of such other party, or the making or seeking to make or arrange an assignment for the benefit of creditors of such
other party, or the initiation of proceedings in voluntary or involuntary bankruptcy, or the appointment of a receiver or trustee
of such other party’s property that is not discharged within ninety (90) days.

 

(b)          Termination
by Janssen Without Cause. Janssen shall have the right to terminate this Agreement at any time upon ninety (90) days’
advance written notice to Company.

 

7.3          Effect
of Termination or Expiration; Surviving Obligations.

 

(a)          Effect
of Any Termination. Upon any termination of this Agreement by either party, all rights and obligations of the parties under
this Agreement shall terminate, except as provided in Sections 7.3, 7.4 and 7.5.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

(b)          Surviving
Terms. Expiration or termination of this Agreement shall not relieve the parties of any obligation (including any payment
obligations in Sections 4.1 and 4.2 and any other payment obligations) accruing prior to such expiration or termination.
Without limiting the foregoing, (i) the obligations and rights of the parties under Articles 1, 6, 8, and 9 and Sections
2.9(a), (b), (c), (d) and (f), 5.2, 7.3, 7.4 and 7.5 shall survive expiration or termination of this Agreement, (ii) any
License Agreement entered into prior to expiration or termination of this Agreement shall continue in full force and effect, and
(iii) if Janssen has exercised the License Option during the License Option Term in accordance with Section 3.1(b) prior
to the expiration or termination of this Agreement, the rights and obligations of the parties with regard to negotiation and entry
into a License Agreement in connection therewith shall survive expiration or termination of this Agreement as provided in Section 3.1(b).

 

(c)          Return
of Confidential Information. Within thirty (30) days following the expiration or termination of this Agreement, each
party shall deliver to the other party or destroy any and all Confidential Information of the other party in its possession, unless
and to the extent provided in any License Agreement and except that
one (1) copy may be retained by the receiving party under a continuing obligation of confidentiality to ensure compliance under
this Agreement.

 

7.4           Exercise
of Right to Terminate. The use by either party hereto of a termination right provided for under this Agreement shall not give
rise to the payment of damages or any other form of compensation or relief to the other party with respect thereto.

 

7.5           Damages;
Relief. Subject to Section 7.4 above, termination of this Agreement shall not preclude either party from claiming any
other damages, compensation or relief that it may be entitled to upon such termination.

 

8.           Indemnification

 

8.1           Indemnification
by Company. Company hereby agrees to save, defend and hold Janssen and its Affiliates and their respective directors, officers,
employees and agents (each, a “Janssen Indemnitee”) harmless from and against any and all claims, suits,
actions, demands, liabilities, expenses and/or loss, including reasonable legal expense and attorneys’ fees (collectively,
“Losses”), to which any Janssen Indemnitee may become subject as a result of any claim, demand, action
or other proceeding by any Third Party to the extent such Losses arise directly or indirectly out of (a) the gross negligence
or willful misconduct of any Company Indemnitee, or (b) the breach by Company of any warranty, representation, covenant or
agreement made by Company in this Agreement; except, in each case, to the extent such Losses result from the gross negligence
or willful misconduct of any Janssen Indemnitee or the breach by Janssen of any warranty, representation, covenant or agreement
made by Janssen in this Agreement.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

8.2           Indemnification
by Janssen. Janssen hereby agrees to save, defend and hold Company and its Affiliates and their respective directors, officers,
employees and agents (each, a “Company Indemnitee”) harmless from and against any and all Losses to
which any Company Indemnitee may become subject as a result of any claim, demand, action or other proceeding by any Third Party
to the extent such Losses arise directly or indirectly out of (a) the gross negligence or willful misconduct of any Janssen Indemnitee,
or (b) the breach by Janssen of any warranty, representation, covenant or agreement made by Janssen in this Agreement; except,
in each case, to the extent such Losses result from the gross negligence or willful misconduct of any Company Indemnitee or the
breach by Company of any warranty, representation, covenant or agreement made by Company in this Agreement.

 

8.3           Control
of Defense. Any person entitled to indemnification under this Article 8 shall give notice to the indemnifying party of
any Losses that may be subject to indemnification, promptly after learning of such Losses, and the indemnifying party shall assume
the defense of such Losses with counsel reasonably satisfactory to the indemnified party. If such defense is assumed by the indemnifying
party with counsel so selected, the indemnifying party will not be subject to any liability for any settlement of such Losses
made by the indemnified party without its consent (but such consent will not be unreasonably withheld or delayed), and will not
be obligated to pay the fees and expenses of any separate counsel retained by the indemnified party with respect to such Losses.

 

9.           General
Provisions

 

9.1           Governing
Law. This Agreement shall be construed and enforced according to the laws of the State of California without regard to its
conflicts or choice of law rules.

 

9.2           Dispute
Resolution. 

 

(a)          Resolution
of Disputes. The parties shall negotiate in good faith and use reasonable efforts to settle any Dispute arising from or related
to this Agreement or the breach thereof. If the parties cannot resolve the Dispute within thirty (30) days of a written request
by either party to the other party, the parties agree to hold a meeting, attended by designated senior representatives of the
respective parties having decision-making authority, as appropriate in light of the subject matter of the Dispute, to attempt
in good faith to negotiate a resolution of the Dispute prior to pursuing other available remedies. If, within thirty (30) days
after such written request, the parties have not succeeded in negotiating a resolution of the Dispute, and a party wishes to pursue
the matter, the remaining provisions of this Section 9.2 shall apply.

 

(b)          Mediation.
The parties shall attempt in good faith to resolve the Dispute by confidential mediation in accordance with the then current
Mediation Procedure of the International Institute for Conflict Prevention and Resolution (“CPR Mediation Procedure”)
(www.cpradr.org) before initiating arbitration. The CPR Mediation Procedure shall control, except where it conflicts with
these provisions, in which case these provisions control. The mediator shall be chosen pursuant to CPR Mediation Procedure. The
mediation shall be held in New York, New York. Either party may initiate mediation by written notice to the other party after
following the procedures in Section 9.2(a). The parties agree to select a mediator within twenty (20) days of the notice
and the mediation will begin promptly after the selection. The mediation will continue until the mediator, or either party, declares
in writing, no sooner than after the conclusion of one (1) full day of a substantive mediation conference attended on behalf of
each party by a senior business person with authority to resolve the Dispute, that the Dispute cannot be resolved by mediation.
In no event, however, shall mediation continue more than sixty (60) days from the initial notice by a party to initiate meditation
unless the parties agree in writing to extend that period. Any period of limitations that would otherwise expire between the initiation
of mediation and its conclusion shall be extended until twenty (20) days after the conclusion of the mediation.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

(c)          Arbitration.
If the parties fail to resolve the Dispute in mediation, and a party desires to pursue resolution of the Dispute, the Dispute
shall be submitted by either party for resolution in arbitration pursuant to the then current CPR Non-Administered Arbitration
Rules (“CPR Rules”) (www.cpradr.org), except where they conflict with these provisions, in
which case these provisions control. The arbitration will be held in New York, New York. All aspects of the arbitration shall
be treated as confidential except to the extent necessary to confirm or enforce an award or as may be required by Applicable Laws.
The arbitrators will be chosen from the CPR Panel of Distinguished Neutrals, unless a candidate not on such panel is approved
by both parties. Each arbitrator shall be a lawyer with at least fifteen (15) years’ experience with a law firm or corporate
law department of over twenty-five (25) lawyers or who was a judge of a court of general jurisdiction. To the extent that the
Dispute requires special expertise, the parties will so inform CPR prior to the beginning of the selection process. The arbitration
tribunal shall consist of three (3) arbitrators, of whom each party shall designate one (1) in accordance with the "screened"
appointment procedure provided in CPR Rule 5.4. The chair will be chosen in accordance with CPR Rule 6.4. If, however, the aggregate
award sought by the parties is less than $5 million and equitable relief is not sought, a single arbitrator shall be chosen in
accordance with the CPR Rules. Candidates for the arbitrator position(s) may be interviewed by representatives of the parties
in advance of their selection, provided that all parties are represented. The parties agree to select the arbitrator(s) within
forty-five (45) days of initiation of the arbitration. The hearing will be concluded within nine (9) months after selection of
the arbitrator(s) and the award will be rendered within sixty (60) days of the conclusion of the hearing, or of any post-hearing
briefing, which briefing will be completed by both sides within forty-five (45) days after the conclusion of the hearing. In the
event the parties cannot agree upon a schedule, then the arbitrator(s) shall set the schedule following the time limits set forth
above as closely as practical. The hearing will be concluded in ten (10) hearing days or less. Multiple hearing days will be scheduled
consecutively to the greatest extent possible. A transcript of the testimony adduced at the hearing shall be made and shall be
made available to each party. The arbitrator(s) shall be guided, but not bound, by the CPR Protocol on Disclosure of Documents
and Presentation of Witnesses in Commercial Arbitration (www.cpradr.org) ("Protocol"). The parties will attempt
to agree on modes of document disclosure, electronic discovery, witness presentation, etc. within the parameters of the Protocol.
If the parties cannot agree on discovery and presentation issues, the arbitrator(s) shall decide on presentation modes and provide
for discovery within the Protocol, understanding that the parties contemplate reasonable discovery. The arbitrator(s) shall decide
the merits of any Dispute in accordance with the law governing this Agreement, without application of any principle of conflict
of laws that would result in reference to a different law. The arbitrator(s) may not apply principles such as “amiable compositeur”
or “natural justice and equity.” The arbitrator(s) are expressly empowered to decide dispositive motions in advance
of any hearing and shall endeavor to decide such motions as would a United States District Court Judge sitting in the jurisdiction
whose substantive law governs. The arbitrator(s) shall render a written opinion stating the reasons upon which the award is based.
The parties consent to the jurisdiction of the United States District Court for the district in which the arbitration is held
for the enforcement of these provisions and the entry of judgment on any award rendered hereunder. Should such court for any reason
lack jurisdiction, any court with jurisdiction may act in the same fashion. Each party has the right to seek from the appropriate
court provisional remedies such as attachment, preliminary injunction, replevin, etc. to avoid irreparable harm, maintain the
status quo, or preserve the subject matter of the Dispute. Rule 14 of the CPR Rules does not apply to this Agreement.

 

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Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

(d)          Waiver.
EACH PARTY HERETO WAIVES: (1) ITS RIGHT TO TRIAL OF ANY ISSUE BY JURY, AND (2) ANY CLAIM FOR ATTORNEY FEES, COSTS AND PREJUDGMENT
INTEREST.

 

9.3           Limitation
of Liability. NEITHER PARTY SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL
OR PUNITIVE DAMAGES (EVEN IF CLASSIFIED AS DIRECT DAMAGES) IN CONNECTION WITH THIS AGREEMENT, ANY LICENSE GRANTED HEREUNDER, OR
TERMINATION THEREOF, INCLUDING THE LOSS OF PROSPECTIVE PROFITS OR ANTICIPATED SALES, OR ON ACCOUNT OF EXPENSES, INVESTMENTS, OR
COMMITMENTS IN CONNECTION WITH THE BUSINESS OR GOODWILL FROM EITHER PARTY; provided, however, that this Section 9.3
shall not be construed to limit either party’s indemnification obligations under Article 8 or limit either party’s
liability for breach of the confidentiality provisions in Article 6.

 

9.4           Entire
Agreement; Modification. This Agreement, together with all Exhibits hereto, is both a final expression of the parties’
agreement and a complete and exclusive statement with respect to all of its terms. This Agreement supersedes all prior and contemporaneous
agreements and communications, whether oral, written or otherwise, concerning any and all matters contained herein and therein,
including the Confidentiality Agreement. This Agreement may only be modified or supplemented in a writing expressly stated for
such purpose and signed by the parties to this Agreement.

 

9.5           Relationship
Between the Parties. The parties’ relationship, as established by this Agreement, is solely that of independent contractors.
This Agreement does not create any partnership, joint venture or similar business relationship between the parties. Neither party
is a legal representative of the other party, and neither party can assume or create any obligation, representation, warranty
or guarantee, express or implied, on behalf of the other party for any purpose whatsoever.

 

9.6           Non-Waiver.
The failure of a party to insist upon strict performance of any provision of this Agreement or to exercise any right arising
out of this Agreement shall neither impair that provision or right nor constitute a waiver of that provision or right, in whole
or in part, in that instance or in any other instance. Any waiver by a party of a particular provision or right shall be in writing,
shall be as to a particular matter and, if applicable, for a particular period of time and shall be signed by such party.

 

    	20

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

9.7           Assignment.
Except as expressly provided hereunder, neither this Agreement nor any rights or obligations hereunder may be assigned or
otherwise transferred by either party without the prior written consent of the other party (which consent shall not be unreasonably
withheld); provided, however, that, either party may assign or otherwise transfer this Agreement and its rights and obligations
hereunder without the other party’s consent:

 

(a)          in
connection with the transfer or sale of all or substantially all of the business or assets of such party to a Third Party, whether
by merger, sale of stock, sale of assets or otherwise; or

 

(b)          to
an Affiliate, provided that the assigning party shall remain liable and responsible to the non-assigning party hereto for the
performance and observance of all such duties and obligations by such Affiliate.

 

The
rights and obligations of the parties under this Agreement shall be binding upon and inure to the benefit of the successors and
permitted assigns of the parties. Any assignment not in accordance with this Agreement shall be void.

 

9.8           No
Third Party Beneficiaries. This Agreement is neither expressly nor impliedly made for the benefit of any party other than
those executing it, except as otherwise provided in this Agreement with respect to Janssen Indemnitees under Section 8.1 and Company
Indemnitees under Section 8.2.

 

9.9           Severability.
If, for any reason, any part of this Agreement is adjudicated invalid, unenforceable or illegal by a court of competent jurisdiction,
such adjudication shall not affect or impair, in whole or in part, the validity, enforceability or legality of any remaining portions
of this Agreement. All remaining portions shall remain in full force and effect as if the original Agreement had been executed
without the invalidated, unenforceable or illegal part.

 

9.10         Cumulative
Remedies. No remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition
to any other remedy referred to in this Agreement or otherwise available under law.

 

9.11         Notices.
Any notice to be given under this Agreement must be in writing and delivered either in person, by any method of mail (postage
prepaid) requiring return receipt, or by overnight courier or facsimile confirmed thereafter by any of the foregoing, to the party
to be notified at its address(es) given below, or at any address such party has previously designated by prior written notice
to the other. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (a) the date of actual receipt;
(b) if mailed, three (3) days after the date of postmark; or (c) if delivered by overnight courier, the next business
day the overnight courier regularly makes deliveries.

 

    	21

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

For
Janssen:                                      Janssen
Biotech, Inc.

800
Ridgeview Drive

Horsham,
PA 19044

***

***

 

with
a copy to:                                  Janssen
Research & Development, LLC

Welsh
& Mckean Roads

Spring
House, PA 19477

***

***

 

and:                                                   Chief
Intellectual Property Counsel

Johnson
& Johnson

One
Johnson & Johnson Plaza

New
Brunswick, NJ 08933

***

 

and:                                                   Janssen
CFC PR / CNA Development LLC

***

Road
#2, Km. 45.6 

Bo.
Campo Alegre 

Manatí,
PR 00674

***

 

For
Company:                                   Fabrus,
Inc.

4045
Sorrento Valley Blvd

San
Diego, California 92121

Attention:
Chief Executive Officer

 

With
a copy to:                                 Cooley
llp

4401
Eastgate Mall

San
Diego, California 92121

***

***

 

9.12         Force
Majeure. Except for the obligation to make payment when due, each party shall be excused from liability for the failure or
delay in performance of any obligation under this Agreement by reason of any event beyond such party’s reasonable control
including but not limited to acts of God, fire, flood, explosion, earthquake, or other natural forces, war, civil unrest, accident,
destruction or other casualty, any lack or failure of transportation facilities, any lack or failure of supply of raw materials,
any strike or labor disturbance, or any other event similar to those enumerated above. Such excuse from liability shall be effective
only to the extent and duration of the event(s) causing the failure or delay in performance and provided that the party has not
caused such event(s) to occur. Notice of a party’s failure or delay in performance due to force majeure must be given to
the other party within ten (10) days after its occurrence. All delivery dates under this Agreement that have been affected
by force majeure shall be tolled for the duration of such force majeure. In no event shall any party be required to prevent or
settle any labor disturbance or dispute.

 

    	22

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

9.13        Interpretation.

 

(a)          Captions
& Headings. The captions and headings of clauses contained in this Agreement preceding the text of the articles, sections,
subsections and paragraphs hereof are inserted solely for convenience and ease of reference only and shall not constitute any
part of this Agreement, or have any effect on its interpretation or construction.

 

(b)          Interpretation.
All references in this Agreement to the word “including” shall be deemed to be followed by the phrase “without
limitation” or like expression. The word “or” means “and/or” unless the context dictates otherwise
because the subject of the conjunction are mutually exclusive. The words “herein,” “hereof” and “hereunder”
and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision.
Unless otherwise specified, references in this Agreement to any article shall include all sections, subsections, and paragraphs
in such article; references in this Agreement to any section shall include all subsections and paragraphs in such sections; and
references in this Agreement to any subsection shall include all paragraphs in such subsection. All references to days, months,
quarters or years are references to calendar days, calendar months, calendar quarters, or calendar years, unless stated otherwise.
All references in this Agreement to the singular shall include the plural where applicable, and all references to gender shall
include both genders and the neuter.

 

(c)          Ambiguities.
Ambiguities and uncertainties in this Agreement, if any, shall not be interpreted against either party, irrespective of which
party may be deemed to have caused the ambiguity or uncertainty to exist.

 

(d)          English
Language. This Agreement has been prepared in the English language and the English language shall control its interpretation.
In addition, all notices required or permitted to be given hereunder, and all written, electronic, oral or other communications
between the parties regarding this Agreement shall be in the English language.

 

9.14        Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original document, and all of
which, together with this writing, shall be deemed one instrument. Signatures provided by facsimile transmission or in AdobeTM
Portable Document Format (PDF) sent by electronic mail shall be deemed to be original signatures.

 

[Remainder
of this page intentionally left blank.]

 

    	23

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

In
Witness Whereof, the parties hereto have duly executed this Collaboration
and Option Agreement as of the Effective Date.

 

	Fabrus,
    Inc.	 	CNA
    Development, LLC
	 	 	 
	By:	/s/
    Ronald A. Martell	 	By:	/s/
    Maria Gonzalez
	 	 	 
	Name: Ronald A. Martell	 	Name: Maria Gonzalez
	 	 	 
	Title: Chief Executive Officer	 	Title: General Manager

 

Signature
Page to Collaboration and Option Agreement

 

    	 

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

Exhibit
A

 

Collaborative
Research plan For Targets 1, 2 and 3

 

Work
Plan (***)

 

***

 

    	A-1

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

Exhibit
B

 

Budget
For Each of Target 1, 2 and 3

(***)

 

***

 

    	B-1

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

Exhibit
C

 

License
Terms1

 

	Parties	 	Fabrus, Inc. (“Company”)
    and [Janssen Biotech, Inc.] (“Janssen”)
	 	 	 
	Milestones and Milestone Payments	 	Janssen
        shall pay Company, the following non-creditable, non-refundable amounts for the achievement of the following development
        and commercial milestones on Licensed Products. Payments are due within thirty (30) days of the achievement of the applicable
        milestone event.

         

        ***                                                                                                ***

        ***                                                                                                ***

        ***                                                                                                ***

        ***                                                                                                ***

         

        For
        clarification, each of the foregoing milestone payments shall be payable one time only upon the first achievement of the
        specified milestone event by a Licensed Product (one Licensed Product per Designated Target), regardless of the number
        of Licensed Products to achieve the applicable milestone event.

	 	 	 
	Royalty	 	During the Royalty Term, ***, capped
    at *** per Licensed Product
	 	 	 
	Field	 	“Field” shall mean
    all uses.
	 	 	 
	Licensed Product	 	“Licensed Product”
    shall mean any pharmaceutical and diagnostic product (including, without limitation, vaccines) developed by Janssen or any
    of its Affiliates, licensees, or legal successors, comprising or containing at least one Collaboration Antibody, including
    and including all formulations, combination products, line extensions and modes of administration thereof.
	 	 	 
	Territory	 	“Territory” means
    worldwide.
	 	 	 
	Valid Claim	 	“Valid Claim”
    means (a) a claim of an unexpired issued patent that has not been disclaimed, revoked or held to be invalid or unenforceable
    by a court or other authority of competent jurisdiction, from which decision no appeal can be further taken; or (b) a
    claim of a pending patent application prosecuted in good faith for which no more than seven (7) years have elapsed from the
    earliest priority date to which such pending application is entitled.  If a claim of a patent application that ceased
    to be a Valid Claim under clause (b) of this subsection later issues or grants as a patent within the scope of clause (a)
    of this subsection, then such claim shall again be considered to be a Valid Claim, effective as of the earlier of the grant
    or issuance of such patent.

 

 

1
These terms do not apply to any Licensed Product that incorporates any cow antibody
technology, including rights in-licensed under the In-License Agreement, which terms would need to be separately negotiated. If
a sublicense to the rights in-licensed under the In-License Agreement is necessary to make and sell Licensed Products, then a
separate sublicense of such rights would be granted on separate terms that comply with the In-License Agreement and cover the
payments to The Scripps Research Institute thereunder.

 

    	C-1

    	 

    

 

Confidential
Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as “***”. A complete version of this exhibit has been filed separately with the
Securities and Exchange Commission.

 

	 	 	 “Cover(ed)(ing)”
    shall mean, in the case of a Licensed Product or Collaboration Antibody and a Valid Claim, that, but for the grant of
    a license or right under, or ownership of, such Valid Claim, the making, using, selling, offering for sale or importation
    of such Licensed Product or Collaboration Antibody would infringe such Valid Claim (in the case of patent applications, assuming
    issuance thereof).
	 	 	 
	Royalty Term	 	Janssen’s
        obligation to pay a royalty under this agreement for a Licensed Product in a given country shall be in effect in each
        country of sale from First Commercial Sale in the country and shall expire, on a country-by-country basis, on the later
        of ***.

         

        Janssen
        shall have the right to terminate the License Agreement at any time upon ninety (90) days’ advance notice. The License
        Agreement shall also include other standard termination provisions.

	 	 	 
	First Commercial Sale	 	“First Commercial Sale”
    means, with respect to a Licensed Product in a particular country, the first commercial sale of such Licensed Product in such
    country after all needed Regulatory and Pricing Approvals have been obtained in such country.
	 	 	 
	Other Provisions	 	Parties agree that a final License agreement
    will contain other customary provisions as deemed necessary by both Parties.

 

    	C-2

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