Document:

EX-4.2

 Exhibit 4.2 
  

 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
  
  

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
	1.	  	Definitions	  	 	1	 
			
	2.	  	Registration Rights	  	 	5	 
				
		  	2.1	  	Demand Registration	  	 	5	 
		  	2.2	  	Company Registration	  	 	6	 
		  	2.3	  	Underwriting Requirements	  	 	7	 
		  	2.4	  	Obligations of the Company	  	 	8	 
		  	2.5	  	Furnish Information	  	 	9	 
		  	2.6	  	Expenses of Registration	  	 	9	 
		  	2.7	  	Delay of Registration	  	 	10	 
		  	2.8	  	Indemnification	  	 	10	 
		  	2.9	  	Reports Under Exchange Act	  	 	12	 
		  	2.10	  	Limitations on Subsequent Registration Rights	  	 	13	 
		  	2.11	  	“Market Stand-off” Agreement	  	 	13	 
		  	2.12	  	Securities Legend	  	 	14	 
		  	2.13	  	Termination of Registration Rights	  	 	14	 
			
	3.	  	Information Rights	  	 	14	 
				
		  	3.1	  	Delivery of Financial Statements	  	 	14	 
		  	3.2	  	Inspection	  	 	15	 
		  	3.3	  	Termination of Information Rights	  	 	16	 
		  	3.4	  	Confidentiality	  	 	16	 
			
	4.	  	Rights to Future Stock Issuances	  	 	16	 
				
		  	4.1	  	Right of First Offer	  	 	16	 
		  	4.2	  	Termination	  	 	18	 
			
	5.	  	Additional Covenants	  	 	18	 
				
		  	5.1	  	Insurance	  	 	18	 
		  	5.2	  	Board Matters	  	 	19	 
		  	5.3	  	Waiver	  	 	19	 
		  	5.4	  	Successor Indemnification	  	 	19	 
		  	5.5	  	Most Favored Investor	  	 	20	 
		  	5.6	  	Employee Arrangements	  	 	20	 
		  	5.7	  	Employee Stock	  	 	20	 
		  	5.8	  	Right to Conduct Activities	  	 	20	 
		  	5.9	  	Termination of Covenants	  	 	21	 
			
	6.	  	Voting Agreement Regarding Election of LAV Director	  	 	21	 
				
		  	6.1	  	Election of LAV Director	  	 	21	 
		  	6.2	  	Removal; Vacancies	  	 	21	 
		  	6.3	  	Notice	  	 	21	 
		  	6.4	  	Termination	  	 	21	 
			
	7.	  	Miscellaneous	  	 	22	 
				
		  	7.1	  	Successors and Assigns	  	 	22	 
		  	7.2	  	Governing Law	  	 	22	 
		  	7.3	  	Counterparts	  	 	22	 
		  	7.4	  	Titles and Subtitles	  	 	22	 
		  	7.5	  	Notices	  	 	22	 
		  	7.6	  	Amendments and Waivers	  	 	23	 
		  	7.7	  	Severability	  	 	23	 
		  	7.8	  	Aggregation of Stock	  	 	24	 

  
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	 	  	 	  	 	  	Page	 
		  	7.9	  	Additional Investors	  	 	24	 
		  	7.10	  	Entire Agreement	  	 	24	 
		  	7.11	  	Dispute Resolution	  	 	24	 
		  	7.12	  	Delays or Omissions	  	 	26	 

 Schedule A    -    Schedule of Investors 

Schedule B    -    Schedule of Key Holders 

  
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 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of the 20th day of May, 2019, by and among Inhibrx, Inc., a Delaware corporation formerly known as Tenium Therapeutics, Inc. (the “Company”), and each of the investors listed on Schedule
A hereto, each of which is referred to in this Agreement as an “Investor”, each of the stockholders listed on Schedule B hereto, each of whom is referred to herein as a “Key Holder” and any Future
Purchaser (as defined below) that becomes a party to this Agreement in accordance with Section 6.9 hereof. 

RECITALS 

WHEREAS, the Company and certain of the Investors (the “Prior Investors”) previously entered
into that certain Investors’ Rights Agreement, dated as of April 30, 2018 (the “Prior Agreement”); 

WHEREAS, the Company desires to enter into that certain Note Purchase Agreement (the “Viking Note
Purchase Agreement”) and Convertible Promissory Note (the “Viking Convertible Note,” and, together with the Viking Note Purchase Agreement, the “Viking Note Agreements”), each
dated as of the date hereof, by and between the Company and DRAGSA 50 LLC (“Viking”); and 

WHEREAS, in order to induce Viking to enter into the Viking Note Agreements, the Investors and the Company hereby agree
to amend and restate the Prior Agreement as set forth in this Agreement. 
 NOW, THEREFORE, the parties hereby agree
as follows: 
 1.    Definitions. For purposes of this
Agreement: 
 1.1    “Affiliate” means, with respect to any specified Person, any other
Person who, directly or indirectly, controls, is controlled by, or is under common control with such Person, including without limitation any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund
or registered investment company now or hereafter existing that is controlled by one or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person. 

1.2    “Board of Directors” means the board of directors of the Company. 

1.3    “Certificate of Incorporation” means the Company’s Amended and Restated
Certificate of Incorporation, as amended and/or restated from time to time. 
 1.4    “Common
Stock” means shares of the Company’s common stock, par value $0.0001 per share. 

1.5    “Company Intellectual Property” means all patents, patent applications, registered
and unregistered trademarks, trademark applications, registered and unregistered 

 
service marks, service mark applications, tradenames, copyrights, trade secrets, domain names, information and proprietary rights and processes, similar or other intellectual property rights,
subject matter of any of the foregoing, tangible embodiments of any of the foregoing, licenses in, to and under any of the foregoing, and any and all such cases that are owned or used by the Company in the conduct of the Company’s business as
now conducted and as presently proposed to be conducted. 
 1.6    “Competitor” means a
Person engaged, directly or indirectly (including through any partnership, limited liability company, corporation, joint venture or similar arrangement (whether now existing or formed hereafter)), in a business which is competitive with the
Company, but shall not include any financial investment firm or collective investment vehicle that, together with its Affiliates, holds less than twenty percent (20)% of the outstanding equity of any Competitor and does not, nor do any of its
Affiliates, have a right to designate any members of the board of directors of any Competitor. 

1.7    “Damages” means any loss, damage, claim or liability (joint or several) to which a
party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based upon: (i) any untrue
statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; (ii) an
omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its
agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law. 

1.8    “Derivative Securities” means any securities or rights convertible into, or
exercisable or exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants. 

1.9    “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder. 
 1.10    “Excluded Registration” means
(i) a registration relating to the sale or grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145
transaction; (iii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration
in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered. 

1.11    “FOIA Party” means a Person that, in the reasonable determination of the Board of
Directors, may be subject to, and thereby required to disclose non-public information furnished by or relating to the Company under, the Freedom of Information Act, 5 U.S.C. 552 (“FOIA”), any
state public records access law, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any other similar statutory or regulatory requirement. 

  
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 1.12    “Form S-1” means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC. 

1.13    “Form S-3” means such form under
the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other documents filed by the Company
with the SEC. 
 1.14    “GAAP” means generally accepted accounting principles in the
United States as in effect from time to time. 
 1.15    “Holder” means any holder of
Registrable Securities who is a party to this Agreement. 
 1.16    “Immediate Family
Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including, adoptive relationships, of a natural
person referred to herein. 
 1.17    “Initiating Holders” means, collectively, Holders
who properly initiate a registration request under this Agreement. 
 1.18    “IPO”
means the Company’s first underwritten public offering of its Common Stock under the Securities Act. 

1.19    “Key Employee” means any executive-level employee (including, division director
and vice president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property. 

1.20    “Key Holder Registrable Securities” means (i) the shares of Common Stock
held by the Key Holders, and (ii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in
replacement of such shares. 
 1.21    “LAV” means LAV Summit Limited. 

1.22    “Major Investor” means (i) LAV, (ii) the holder of the Viking Convertible
Note, and (iii) any Investor that, individually or together with such Investor’s Affiliates, holds at least 400,000 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization
or reclassification effected after the date hereof). 

  
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 1.23    “New Securities” means,
collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or
exchangeable into or exercisable for such equity securities. 
 1.24     “Person” means
any individual, corporation, partnership, trust, limited liability company, association or other entity. 

1.25    “Registrable Securities” means (i) the Common Stock issuable or issued upon
conversion of the Viking Convertible Note, or upon conversion of any Derivative Securities issuable or issued upon conversion of the Viking Convertible Note; provided, however, that prior to the conversion of the Viking Convertible
Note, such Common Stock or Derivative Securities issuable upon conversion thereof shall not be deemed Registrable Securities for purposes of Subsection 7.6; (ii) the Common Stock issuable or issued upon conversion of the Series
Mezzanine Preferred Stock; (iii) the Key Holder Registrable Securities, provided, however, that such Key Holder Registrable Securities shall not be deemed Registrable Securities and the Key Holders shall not be deemed
Holders for the purposes of Subsections 2.1 (and any other applicable Section or Subsection with respect to registrations under Subsection 2.1), 2.12, 3.1, 3.2, 4.1 and 7.6; and (iv) any Common
Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clause
(ii) or (iii) above; excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Subsection 7.1, and excluding for
purposes of Section 2 any shares for which registration rights have terminated pursuant to Subsection 2.13 of this Agreement. With respect to the Viking Convertible Note: (i) at any time prior to
the conversion of the Viking Convertible Note, the number of Registrable Securities with respect thereto shall be calculated assuming that the holder thereof is permitted to convert the Viking Convertible Note pursuant to a Maturity Date Conversion
(as defined therein) as of the date of such calculation; and (ii) at any time after conversion of the Viking Convertible Note, the number of Registrable Securities with respect thereto shall be calculated based on the actual number of shares of
Common Stock or Derivative Securities issued upon conversion of the Viking Convertible Note. 

1.26    “Registrable Securities then outstanding” means the number of shares determined
by adding the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are
Registrable Securities. 
 1.27    “Restricted Securities” means the securities of the
Company required to be notated with the legend set forth in Subsection 2.12(b) hereof. 

1.28    “SEC” means the Securities and Exchange Commission. 

1.29    “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

  
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 1.30    “SEC Rule 145” means Rule 145
promulgated by the SEC under the Securities Act. 
 1.31    “Securities Act” means the
Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

1.32    “Selling Expenses” means all underwriting discounts, selling commissions, and
stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as provided in
Subsection 2.6. 
 1.33    “Series Mezzanine Preferred Stock” means shares of
the Company’s Series Mezzanine 1 Preferred Stock, par value $0.0001 per share, and Company’s Series Mezzanine 2 Preferred Stock, par value $0.0001 per share. 

1.34    “Transaction Documents” means the Purchase Agreement, the Agreement and Plan of
Merger dated as of April 30, 2018 by and among Tenium Therapeutics, Inc., Inhibrx, LP, and each of the other parties identified therein, and the Right of First Refusal and Co-Sale Agreement dated as of
April 30, 2018 by and among the Company and the Key Holders identified therein. 

2.    Registration Rights. The Company covenants and agrees as
follows: 
 2.1    Demand Registration. 

(a)    Form S-1 Demand. If at any time after one hundred
eighty (180) days after the effective date of the registration statement for the IPO, the Company receives a request from Holders of a majority of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect to at least twenty-five percent (25%) of the Registrable Securities then outstanding (or a lesser percent if the anticipated aggregate offering price, net of Selling
Expenses, would exceed $15 million), then the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating Holders; and
(y) as soon as practicable, and in any event within ninety (90) days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act
covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such
Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3. 

(b)    Form S-3 Demand. If at any time when it is eligible
to use a Form S-3 registration statement, the Company receives a request from Holders of at least fifteen percent (15%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $5 million, then the Company
shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any 

  
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event within ninety (90) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the
Securities Act covering all Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is
given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3. 

(c)    Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a
registration pursuant to this Subsection 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Board of Directors it would be materially detrimental to the Company and its
stockholders for such registration statement to be filed and it is therefore necessary to defer the filing of such registration statement, then the Company shall have the right to defer taking action with respect to such filing for a period of not
more than ninety (90) days after the request of the Initiating Holders is given; provided, however, that the Company may not invoke this right more than twice in any twelve (12) month period; and provided
further that the Company shall not register any securities for its own account or that of any other stockholder during such ninety (90) day period other than an Excluded Registration. 

(d)    The Company shall not be obligated to effect, or to take any action to effect, any registration
pursuant to Subsection 2.1(a) during the period that is ninety (90) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after the effective date of,
a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has effected two
registrations pursuant to Subsection 2.1(a); or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a
request made pursuant to Subsection 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(b) (i) during the period that is thirty (30) days before
the Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith
commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Subsection 2.1(b) within the twelve (12) month period immediately preceding
the date of such request. A registration shall not be counted as “effected” for purposes of this Subsection 2.1(d) until such time as the applicable registration statement has been declared effective by the SEC, unless the
Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Subsection 2.6, in which case such withdrawn
registration statement shall be counted as “effected” for purposes of this Subsection 2.1(d); provided, that if such withdrawal is during a period the Company has deferred taking action pursuant to Subsection 2.1(c),
then the Initiating Holders may withdraw their request for registration and such registration will not be counted as “effected” for purposes of this Subsection 2.1(d). 

2.2    Company Registration. If the Company proposes to register
(including, for this purpose, a registration effected by the Company for stockholders other than the Holders) any of its Common Stock under the Securities Act in connection with the public offering of such

  
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securities solely for cash (other than in an Excluded Registration or the IPO), the Company shall, at such time, promptly give each Holder notice of such registration. Upon the request of each
Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Subsection 2.3, cause to be registered all of the Registrable Securities that each such Holder has requested to be
included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Subsection 2.2 before the effective date of such registration, whether or not any Holder has elected to include
Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Subsection 2.6. 

2.3    Underwriting Requirements. 

(a)    If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the
Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Subsection 2.1, and the Company shall include such information in the Demand Notice. The
underwriter(s) will be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration
shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities
through such underwriting shall (together with the Company as provided in Subsection 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of
this Subsection 2.3, if the underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of
Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating
Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in
accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. 

(b)    In connection with any offering involving an underwriting of shares of the Company’s capital
stock pursuant to Subsection 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and
its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company
shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the
underwriters determine that less 

  
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than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the
selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of
shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall the number of
Registrable Securities included in the offering be reduced below twenty percent (20%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the
underwriters make the determination described above and no other stockholder’s securities are included in such offering. For purposes of the provision in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a
partnership, limited liability company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners,
members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon
the aggregate number of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence. 

2.4    Obligations of the Company. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 

(a)    prepare and file with the SEC a registration statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective
for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one hundred twenty (120) day
period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration; 

(b)    prepare and file with the SEC such amendments and supplements to such registration statement, and
the prospectus used in connection with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement; 

(c)    furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary
prospectus, as required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities; 

(d)    use its commercially reasonable efforts to register and qualify the securities covered by such
registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to
do business or to file a general consent to service of process in any such states or jurisdictions; 

  
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 (e)    in the event of any underwritten public
offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the underwriter(s) of such offering; 

(f)    use its commercially reasonable efforts to cause all such Registrable Securities covered by such
registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed; 

(g)    provide a transfer agent and registrar for all Registrable Securities registered pursuant to this
Agreement and provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(h)    promptly make available for inspection by the selling Holders, any underwriter(s) participating in
any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and
properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as
necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith; 

(i)    notify each selling Holder, promptly after the Company receives notice thereof, of the time when
such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and 

(j)    after such registration statement becomes effective, notify each selling Holder of any request by
the SEC that the Company amend or supplement such registration statement or prospectus. 

2.5    Furnish Information. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities. 

2.6    Expenses of Registration. All expenses (other than Selling
Expenses) incurred in connection with registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements
of counsel for the Company; and the reasonable fees and disbursements, not to exceed $30,000, of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and paid by the Company; provided, however, that
the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Subsection 2.1 if the 

  
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registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such
expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to
Subsections 2.1(a) or 2.1(b), as the case may be. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of
the number of Registrable Securities registered on their behalf. 

2.7    Delay of Registration. No Holder shall have any right to
obtain or seek an injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this
Section 2. 
 2.8    Indemnification.
If any Registrable Securities are included in a registration statement under this Section 2: 

(a)    To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder,
and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls
such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses
reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this
Subsection 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be
liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or
other aforementioned Person expressly for use in connection with such registration. 
 (b)    To the
extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the
Company within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of
any such underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on
behalf of such selling Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection
with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this 

  
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Subsection 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder, which consent shall not be
unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Subsections 2.8(b) and 2.8(d) exceed the proceeds from the offering
received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder. 

(c)    Promptly after receipt by an indemnified party under this Subsection 2.8 of notice
of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this
Subsection 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other
indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may
be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a
reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Subsection 2.8, to the extent that such failure materially prejudices the indemnifying
party’s ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Subsection 2.8. 

(d)    To provide for just and equitable contribution to joint liability under the Securities Act in any
case in which either: (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Subsection 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court
of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Subsection 2.8 provides for
indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Subsection 2.8, then, and in each such case, such parties will
contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the
indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the
indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however,
that, in any such case (x) no 

  
 11 

 
Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement,
and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and
provided further that in no event shall a Holder’s liability pursuant to this Subsection 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Subsection 2.8(b), exceed the proceeds from
the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 

(e)    Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

(f)    Unless otherwise superseded by an underwriting agreement entered into in connection with the
underwritten public offering, the obligations of the Company and Holders under this Subsection 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and
otherwise shall survive the termination of this Agreement. 

2.9    Reports Under Exchange Act. With a view to
making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company shall: 
 (a)    make and keep available adequate
current public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO; 

(b)    use commercially reasonable efforts to file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and 

(c)    furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon
request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the registration statement filed by
the Company for the IPO), the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such
securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to
use such form). 

  
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 2.10    Limitations
on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Major Investors and the Holders of a majority of the Registrable Securities then outstanding, enter
into any agreement with any holder or prospective holder of any securities of the Company that would provide to such holder or prospective holder the right to include securities in any registration on other than either a pro rata basis with respect
to the Registrable Securities or on a subordinate basis after all Holders have had the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include; provided that this limitation
shall not apply to Registrable Securities acquired by any additional Investor that becomes a party to this Agreement in accordance with Subsection 6.9. 

2.11    “Market
Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the
final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1 of Form S-3, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days in the case of the IPO, or ninety (90) days in the case of a
registration other than the IPO) (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or
dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock (whether such shares or any such securities are then owned by the Holder or
are thereafter acquired), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause
(i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this Subsection 2.11 (x) shall not apply to the sale of any shares to an underwriter
pursuant to an underwriting agreement, (y) or the transfer of any shares to any (i) Affiliate of the Holder or (ii) trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the
Affiliate or trustee of the trust, as applicable, agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and (z) shall be
applicable to the Holders only if all officers, directors and stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Series
Mezzanine Preferred Stock) are subject to the same restrictions. The underwriters in connection with such registration are intended third-party beneficiaries of this Subsection 2.11 and shall have the
right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are
consistent with this Subsection 2.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all
Holders subject to such agreements, based on the number of shares subject to such agreements. Notwithstanding anything to the contrary herein, the terms of this Subsection 2.11 shall not apply to Viking (or its permitted transferees or Affiliates)
with respect to a registration by the Company of its Common Stock or any other equity securities under the Securities Act other than the IPO and shall not apply to any securities acquired by Viking (or its permitted transferees or Affiliates) in the
IPO or subsequent thereto. 

  
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 2.12    Securities
Legend. Each certificate, instrument, or book entry representing (i) the Series Mezzanine Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses
(i) and (ii), upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Subsection 2.12(c)) be notated with a legend substantially in the
following form: 
 THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT. 

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND
THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 

2.13    Termination of Registration Rights. The right of any Holder
to request registration or inclusion of Registrable Securities in any registration pursuant to Subsections 2.1 or 2.2 shall terminate upon the earliest to occur of: 

(a)    the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of
Incorporation; 
 (b)    such time after consummation of the IPO as Rule 144 or another similar
exemption under the Securities Act is available for the sale of all of such Holder’s shares without limitation during a three-month period without registration; 

(c)    the first anniversary of the IPO. 

3.    Information Rights. 

3.1    Delivery of Financial Statements. The Company shall deliver
to each Major Investor, provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company: 

(a)    as soon as practicable, but in any event within one hundred twenty (120) days after the end of
each fiscal year of the Company audited annual consolidated financial statements prepared in accordance with GAAP as audited by a top 6 accounting firm mutually agreed upon by the Company and the Major Investors; 

(b)    as soon as practicable, but in any event within forty-five
(45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, unaudited 

  
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statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial
statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with GAAP); 

(c)    as soon as practicable, but in any event within thirty (30) days before the end of each month
starting as of January 1, 2019, unaudited monthly consolidated financial statements of the Company, which shall indicate variances from the annual budget with respect to key line items; 

(d)    as soon as practicable, but in any event thirty (30) days before the end of each fiscal year,
a budget and business plan for the next fiscal year (collectively, the “Budget”), prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months and, promptly after prepared,
any other budgets or revised budgets prepared by the Company; and 
 (e)    such other information
relating to the financial condition, business, prospects or corporate affairs of the Company as any Major Investor may from time to time reasonably request; provided, however, that the Company shall not be obligated under this Subsection 3.1 to
provide information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement in a form acceptable to the Company); or (ii) the
disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 
 If, for any
period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating
financial statements of the Company and all such consolidated subsidiaries. 
 Notwithstanding anything else in this
Subsection 3.1 to the contrary, the Company may cease providing the information set forth in this Subsection 3.1 during the period starting with the date thirty (30) days before the Company’s good-faith estimate of the date
of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Subsection
3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective. 

3.2    Inspection. The Company shall permit each Major Investor ,
(provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company), at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of
account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the
Company shall not be obligated pursuant to this Subsection 3.2 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable
confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

  
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 3.3    Termination of
Information Rights. The covenants set forth in Subsection 3.1 and Subsection 3.2 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first
becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event
occurs first. 
 3.4    Confidentiality. Each Investor agrees
that such Investor will keep confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement
(including notice of the Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Subsection 3.4
by such Investor), (b) is or has been independently developed or conceived by such Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to such Investor by a third party without a
breach of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other
professionals to the extent necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees
to be bound by the provisions of this Subsection 3.4 (provided that the Board of Directors has not reasonably determined that such prospective purchaser is a competitor of the Company); (iii) to any current or prospective
Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person to maintain
the confidentiality of such information; or (iv) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that such Investor promptly notifies the Company of such disclosure and takes reasonable steps to
minimize the extent of any such required disclosure. 
 4.    Rights
to Future Stock Issuances. 
 4.1    Right of First Offer.
Subject to the terms and conditions of this Subsection 4.1 and applicable securities laws, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor
shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself, (ii) its Affiliates and (iii) its beneficial interest holders, such as limited partners,
members or any other Person having “beneficial ownership,” as such term is defined in Rule 13d-3 promulgated under the Exchange Act, of such Major Investor (“Investor Beneficial
Owners”); provided that each such Affiliate or Investor Beneficial Owner (x) is not a Competitor or FOIA Party, unless such party’s purchase of New Securities is otherwise consented to by the Board of Directors, and
(y) agrees to enter into this Agreement and each of the Voting Agreement and Right of First Refusal and Co-Sale Agreement of even date herewith among the Company, the Investors and the other parties named
therein, as an “Investor” under each such agreement (provided that any Competitor or FOIA Party shall not be entitled to any rights as a Major Investor under Subsections 3.1, 3.2 and 4.1 hereof). 

  
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 (a)    The Company shall give notice (the
“Offer Notice”) to each Major Investor, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it
proposes to offer such New Securities. 
 (b)    By notification to the Company within twenty
(20) days after the Offer Notice is given, each Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that
the Common Stock then held by such Major Investor (including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Series Mezzanine Preferred Stock and any other Derivative
Securities then held by such Major Investor) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Series Mezzanine Preferred Stock and any other Derivative Securities then
outstanding) (such calculation, the “Pro Rata Share”). For purposes of calculating the Pro Rata Share with respect to the Viking Convertible Note: (i) at any time prior to the conversion of the Viking Convertible Note, the Pro
Rata Share with respect thereto shall be calculated assuming that the holder thereof is permitted to convert the Viking Convertible Note pursuant to a Maturity Date Conversion (as defined therein) as of the date of such calculation; and (ii) at
any time after conversion of the Viking Convertible Note, the Pro Rata Share shall be calculated based on the actual number of shares of Common Stock or Derivative Securities issued upon conversion of the Viking Convertible Note. At the expiration
of such twenty (20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of any other Major Investor’s
failure to do likewise. During the ten (10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in addition to the number of shares
specified above, up to that portion of the New Securities for which Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors which is equal to the proportion that the Common Stock issued and held, or
issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of Series Mezzanine Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or
issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Series Mezzanine Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed
shares. The closing of any sale pursuant to this Subsection 4.1(b) shall occur within the later of ninety (90] days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection
4.1(c). 
 (c)    If all New Securities referred to in the Offer Notice are not elected to be
purchased or acquired as provided in Subsection 4.1(b), the Company may, during the ninety (90) day period following the expiration of the periods provided in Subsection 4.1(b), offer and sell the remaining unsubscribed portion of
such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the

  
 17 

 
New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and
such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Subsection 4.1. 

(d)    The right of first offer in this Subsection 4.1 shall not be applicable to
(i) Exempted Securities (as defined in the Certificate of Incorporation); (ii) shares of Common Stock issued in the IPO; and (iii) the issuance of shares of Series Mezzanine Preferred Stock to Future Purchasers pursuant to the
Purchase Agreement. 
 (e)    The right of first offer set forth in this Subsection 4.1 shall
terminate with respect to any Major Investor who fails to purchase, in any transaction subject to this Subsection 4.1, all of such Major Investor’s pro rata amount of the New Securities allocated (or, if less than such Major
Investor’s pro rata amount is offered by the Company, such lesser amount so offered) to such Major Investor pursuant to this Subsection 4.1. Following any such termination, such Investor shall no longer be deemed a “Major
Investor” for any purpose of this Subsection 4.1 
 (f)    Notwithstanding any provision
hereof to the contrary, in lieu of complying with the provisions of this Subsection 4.1, the Company may elect to give notice to the Major Investors within thirty (30) days after the issuance of New Securities. Such notice shall describe
the type, price, and terms of the New Securities. Each Major Investor shall have twenty (20) days from the date notice is given to elect to purchase up to the number of New Securities that would, if purchased by such Major Investor, maintain
such Major Investor’s percentage-ownership position, calculated as set forth in Subsection 4.1(b) before giving effect to the issuance of such New Securities. 

4.2    Termination. The covenants set forth in Subsection
4.1 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the
Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first and, as to each Major Investor, in accordance with Subsection 4.1(e). 

5.    Additional Covenants. 

5.1    Insurance. 

(a)    The Company shall purchase and maintain for the benefit of each director and his or her alternate,
an adequate directors and officers insurance policy against liability for negligence, breach of duty and breach of trust with a reputable insurance company with such amount as may be approved by a majority of the directors (including the LAV
Director). The directors and officers insurance policy shall not be cancelable by the Company without the prior unanimous approval of the Board. The Company shall indemnify and hold harmless each director and his or her alternate, to the fullest
extent permissible by law, from and against all liabilities, damages, actions, suits, proceedings, claims, costs, charges and expenses suffered or incurred by or brought or made against such director or his alternate as a result of any

  
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act, matter or thing done or omitted to be done by him or her in the course of acting as a director or alternate director, as applicable, of the Company (save and except for fraud, gross
negligence or willful default) in each case subject to any existing indemnification agreement by and between the Company and such director. 

(b)    The Company shall obtain, within ninety (90) days of the date hereof, from financially sound
and reputable insurers Directors and Officers liability insurance and term “key-person” insurance on Mark Lappe, each in an amount and on terms and conditions satisfactory to the Board of Directors,
and will use commercially reasonable efforts to cause such insurance policies to be maintained until such time as the Board of Directors determines that such insurance should be discontinued. The key-person
policy shall name the Company as loss payee, and neither policy shall be cancelable by the Company without prior approval by the Board of Directors. 

5.2    Board Matters. Unless otherwise determined by the vote of a
majority of the directors then in office, the Board of Directors shall meet at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the directors for all reasonable out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. In the event that the Board maintains or establishes
any compensation committee or audit committee (by whatever name called) of the Board to manage such matters as designated by the Board (the “Board Committees”), the LAV Director shall have the right to be appointed to such Board
Committees to the extent permitted under law (including “independence” requirements of such committee). All acts of each Board Committee shall require the approval of a simple majority of the members thereof (including the LAV Director).

 5.3    Waiver. The Company acknowledges that LAV will likely
have, from time to time, information that may be of interest to the Company or subsidiaries of the Company (the “Information”) regarding a wide variety of matters. The Company recognizes that a portion of such Information may be of
interest to the Company or any of its subsidiaries. Such Information may or may not be known by the directors (other than the LAV Director). The Company, as a material part of the consideration for LAV’s investment in the Company, agrees that
the LAV Director shall not have any duty to disclose any Information to the Company or its subsidiaries, or permit the Company or any of its subsidiaries to participate in any projects or investments based on any Information, or to otherwise take
advantage of any opportunity that may be of interest to the Company or any of its subsidiaries if it were aware of such Information, and hereby waives, to the extent permitted by law, any claim based on the corporate opportunity doctrine or
otherwise that could limit LAV’s ability to pursue opportunities based on such Information or that would require LAV or the LAV Director to disclose any such Information to the Company or any of its subsidiaries or offer any opportunity
relating thereto to the Company or any of its subsidiaries. 

5.4    Successor Indemnification. If the Company or any of its
successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the
successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board of 

  
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Directors as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, the Certificate of Incorporation, or elsewhere, as the case may
be. The foregoing waiver shall not apply with regards to any Information obtained by LAV or the LAV Director solely as a result of the LAV Director serving in such capacity. 

5.5    Most Favored Investor. In the event the Company hereafter
grants any preferential rights, privileges or other protections to any Holder prior to or in connection with the closing of the Series Mezzanine 2 Preferred Stock (including, without limitation, any Future Purchasers) that are more favorable than
those rights, privileges and protection granted to and held by LAV under the Transaction Documents and Amended and Restated Certificate of Incorporation of the Company, the Company shall offer LAV, so long as LAV continues to hold any shares of
Series Mezzanine Preferred Stock the same rights, privileges and protections as such Holder. 

5.6    Employee Arrangements. The Company will cause each person
now or hereafter employed by it (or engaged by the Company as a consultant/independent contractor) with access to confidential information and/or trade secrets to enter into a nondisclosure and proprietary rights assignment agreement; provided,
however, that such agreement shall not be required for those individuals who are parties to such agreements with an Affiliate of the Company. Without the approval of the Board, the Company shall not terminate, modify or amend in any material respect
the following agreements with any employee: (i) any nondisclosure and proprietary rights assignment agreement, (ii) agreements containing noncompetition provisions and (iii) any stock purchase agreements. 

5.7    Employee Stock. Unless otherwise approved by the Board, all
future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as
applicable, providing for vesting terms that are no less favorable to the Company than the vesting of shares over a four (4) year period, with the first twenty-five (25%) of such shares vesting following twelve (12) months of continued
employment or service and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months. 

5.8    Right to Conduct Activities. The Company hereby agrees and
acknowledges that LAV, RA Capital Healthcare Fund, L.P. (together with its affiliates, “RA Capital”) and Blackwell Partners LLC—Series A (together with its affiliates, “Blackwell”) are each a professional investment fund,
and as such invest in numerous portfolio companies, some of which may be deemed competitive with the Company’s business (as currently conducted or as currently propose to be conducted). The Company hereby agrees that, to the extent permitted
under applicable law, each of LAV, RA Capital and Blackwell shall not be liable to the Company for any claim arising out of, or based upon, (i) the investment by LAV, RA Capital or Blackwell in any entity competitive with the Company, or
(ii) actions taken by any partner, officer or other representative of LAV, RA Capital or Blackwell to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or
otherwise, and whether or not such action has a detrimental effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s
confidential information obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to the Company. 

  
 20 

 5.9    Termination of
Covenants. The covenants set forth in this Section 5 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the
periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first. 

6.    Voting Agreement Regarding Election of LAV Director. 

6.1    Election of LAV Director. In any election of directors of
the Company to elect directors of the Company, each Key Holder and Investor agrees, on behalf of itself and any transferee or assignee of its shares of Common Stock or Series Mezzanine Preferred Stock, to vote at any regular or special meeting of
stockholders (or by written consent) all shares of Common Stock or Series Mezzanine Preferred Stock then owned by it (or as to which they then have voting power), for so long as LAV owns any shares of Series Mezzanine 1 Preferred Stock, to elect one
(1) director nominated by LAV (the “LAV Director”), who shall initially be Judith Li. If Judith Li will no longer be the director nominated by LAV, her replacement shall be designated by LAV. In addition, as long as LAV
continues to hold shares of Series Mezzanine Preferred Stock, the Company shall also invite a representative of LAV (the identity of whom shall be provided to the Company by written notice from LAV) to attend all meetings of its Board in a non-voting observer capacity, and, in this respect, the Company shall give such representative copies of all notices, minutes, consents and other materials that it provides to its directors. 

6.2    Removal; Vacancies. Any director of the Company may be
removed from the Board in the manner allowed by law and the Certificate of Incorporation and Bylaws, but with respect to any director nominated pursuant to Section 6.1 above, only upon the vote or written consent of LAV. Any vacancy created by
the resignation, removal or death of a director elected pursuant to Section 6.1 above shall be filled pursuant to the provisions of Section 6.1. 

6.3    Notice. The Company shall provide the parties hereto with
fifteen (15) days’ prior written notice of any intended mailing of a notice to stockholders for a meeting at which directors are to be elected. LAV shall give written notice to all other parties to this Agreement, no later than five days
prior to such mailing, of the person(s) designated by LAV pursuant to Section 6.1 as its nominee for election as director. The Company agrees to nominate and recommend for election as the LAV Director (as such term is defined in the Certificate
of Incorporation) only the individual designated, or to be designated, pursuant to Section 
6.1. 
 6.4    Termination. The voting agreement set forth in this
Section 6 shall terminate and be of no further force or effect upon the consummation of (i) the Company’s sale of its Common Stock or other securities pursuant to a registration statement under the Securities Act (other than a
registration statement relating either to the sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction) or (ii) a Deemed Liquidation Event. 

  
 21 

7.    Miscellaneous. 

7.1    Successors and Assigns. Except as otherwise provided herein,
the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this
Agreement. 
 7.2    Governing Law. This Agreement shall be
governed by and interpreted and enforced in accordance with the laws of the State of California, U.S.A., applicable to contracts wholly made and performed therein by domiciliaries thereof. 

7.3    Counterparts. This Agreement may be executed in two
(2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature
complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

7.4    Titles and Subtitles. The titles and subtitles used in this
Agreement are for convenience only and are not to be considered in construing or interpreting this Agreement. 
 
7.5    Notices. 
 (a)    All notices and other communications given or
made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail or facsimile
during the recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt
requested, postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written
verification of receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A or Schedule B (as applicable) hereto, or to the principal office of the Company and to the attention of
the Chief Executive Officer, in the case of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Subsection 6.5. If notice is given to the Company, a copy
shall also be sent to Jeremy Glaser, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., 3580 Carmel Mountain Road, Suite 300, San Diego, CA 92130. 

(b)    Consent to Electronic Notice. Each Investor and Key Holder consents to the delivery of any
stockholder notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic
mail address or the facsimile number set forth below such Investor’s or Key Holder’s name on the Schedules 

  
 22 

 
hereto, as updated from time to time by notice to the Company, or as on the books of the Company. Each Investor and Key Holder agrees to promptly notify the Company of any change in such
stockholder’s electronic mail address, and that failure to do so shall not affect the foregoing. 
 
7.6    Amendments and Waivers. Any term of this Agreement may be amended, modified or terminated and the observance of any term of this Agreement may be waived (either generally or in a particular instance, and either
retroactively or prospectively) only with the written consent of the Company and the holders of at least a majority of the Registrable Securities then outstanding; provided that any provision hereof may be waived by any waiving party on such
party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to any Investor
without the written consent of such Investor, unless such amendment, modification, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 4 with
respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase
securities in such transaction) and (b) Subsections 3.1 and 3.2, Section 4 and any other section of this Agreement applicable to the Major Investors (including this clause (b) of this Subsection
7.6) may not be amended, modified, terminated or waived without the written consent of the holders of at least a majority of the Registrable Securities then outstanding and held by the Major Investors. Additionally, neither the definitions of
“Major Investor” or “Registrable Securities”, the provisions of Subsection 2.11 (“Market Stand-Off”), nor this Subsection 7.6 may be amended in a manner that
adversely affects the holder of the Viking Convertible Note without the written consent of the holder thereof. Further, this Agreement may not be amended, modified or terminated, and no provision hereof may be waived, in each case, in any way which
would adversely affect the rights of the Key Holders hereunder in a manner disproportionate to any adverse effect such amendment, modification, termination or waiver would have on the rights of the Investors hereunder, without also the written
consent of the holders of at least a majority of the Registrable Securities held by the Key Holders. Notwithstanding the foregoing, Schedule A hereto may be amended by the Company from time to time to add transferees of any Registrable
Securities in compliance with the terms of this Agreement without the consent of the other parties; and Schedule A hereto may also be amended by the Company after the date of this Agreement without the consent of the other parties to add
information regarding any additional Investor who becomes a party to this Agreement in accordance with Subsection 7.9. The Company shall give prompt notice of any amendment, modification or termination hereof or waiver hereunder to any party
hereto that did not consent in writing to such amendment, modification, termination, or waiver. Any amendment, modification, termination, or waiver effected in accordance with this Subsection 7.6 shall be binding on all parties hereto,
regardless of whether any such party has consented thereto. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any
such term, condition, or provision. 
 7.7    Severability. In
case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this
Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 

  
 23 

 7.8    Aggregation of
Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as
among themselves in any manner they deem appropriate. 

7.9    Additional Investors. Notwithstanding anything to the
contrary contained herein, if the Company issues additional shares of the Company’s Series Mezzanine Preferred Stock after the date hereof, whether pursuant to the Purchase Agreement or otherwise, any purchaser of such shares of Series
Mezzanine Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes hereunder. No action or
consent by the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by all of the obligations as an “Investor” hereunder. 

7.10    Entire Agreement. This Agreement (including any Schedules
and Exhibits hereto) constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
is expressly canceled. Upon the effectiveness of this Agreement, the Prior Agreement shall be deemed amended and restated and superseded and replaced in its entirety by this Agreement, and shall be of no further force or effect. 

7.11    Dispute Resolution. The parties (a) hereby irrevocably
and unconditionally submit to the jurisdiction of the state courts of California and to the jurisdiction of the United States District Court for the District of the Southern District of California for the purpose of any suit, action or other
proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of California or the United States District
Court for the District of the Southern District of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to
the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or
that this Agreement or the subject matter hereof may not be enforced in or by such court. 
 WAIVER OF JURY TRIAL: EACH PARTY HEREBY
WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY 

  
 24 

 
DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS
WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

(a)    Any dispute, controversy, or claim (each a “Dispute”) arising out or relating to
this Agreement or the breach thereof shall be finally resolved by arbitration administered by the American Arbitration Association (“AAA”) under its then applicable Commercial Arbitration Rules (the “Rules”),
excluding its Supplementary Rules for Class Arbitrations. The place of arbitration shall be San Diego, California, U.S.A. The arbitration shall be conducted in English by one arbitrator appointed in accordance with the Rules. 

(b)    Joinder in the arbitration of any party who or that is not a party to this Agreement is not
permitted. Consolidation of any arbitration hereunder with any other arbitration proceeding is not permitted. The Expedited Procedures of the Rules shall apply irrespective of the amount in dispute, and notwithstanding the provisions of Rules R-1(b), and the Procedures for Large, Complex Commercial Disputes shall not apply, irrespective of the amount in dispute, notwithstanding the provisions of Rules R-1(c). 

(c)    Each party shall bear its own costs in respect of any proceedings hereunder. 

(d)    Except as may be required by law, no party nor the arbitrator may disclose the existence, content,
or results of any arbitration hereunder without the prior written consent of all parties to this Agreement. 

(e)    As a prerequisite to the commencement of arbitration of any Dispute, the parties hereto shall use
their best efforts to settle the Dispute by the following procedure. In the event of a Dispute, any party may give written Notice of the Dispute to the other parties hereto, specifying its nature, and shall therein demand a period of negotiation.
The parties shall thereupon consult and negotiate with each other in good faith in an effort to reach a settlement concerning the Dispute. If the parties do not reach a settlement of the Dispute within a period of 60 days following the date of
receipt of the aforesaid Notice by all parties, any party to this Agreement may then commence arbitration as aforesaid. 

(f)    Waiver of Conflicts. Each party to this Agreement acknowledges that Mintz, Levin, Cohn,
Ferris, Glovsky and Popeo, P.C., counsel for the Company (“Mintz Levin”), has in the past performed and may continue to perform legal services for certain of the Purchasers in matters unrelated to the transactions described in this
Agreement, including the representation of such Purchasers in venture capital financings and other matters. Accordingly, each party to this Agreement hereby (a) acknowledges that they have had an opportunity to ask for information relevant to
this disclosure; and (b) gives its informed consent to Mintz Levin’s representation of certain of the Purchasers in such unrelated matters and to Mintz Levin’s representation of the Company in connection with this Agreement and the
transactions contemplated hereby. 

  
 25 

 7.12    Delays or
Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such
nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed
a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

[Remainder of Page Intentionally Left Blank] 

  
 26 

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

			
	 INHIBRX, INC.

		
	By:	 	 /s/ Mark Lappe    

	 Name: Mark Lappe

	 Title: Chief Executive Officer

 SIGNATURE PAGE TO AMENDED
AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

  

			
	KEY HOLDERS:
	
	 /s/ Mark Lappe    

	 Mark Lappe

 
	
	
	 /s/ Brendan Eckelman    

	 Brendan Eckelman

  

			
	 DOUGLAS G. FORSYTH AND ROSANNA FORSYTH AS CO-TRUSTEES OF THE FORSYTH
FAMILY TRUST DATED JULY 20, 2001

		
	By:	 	 /s/ Doug Forsyth    

		 	 Doug Forsyth, Trustee

  

			
	 THE JON F. KAYYEM AND PAIGE GATES-KAYYEM FAMILY TRUST

		
	By:	 	 /s/ Jon Kayyem    

		 	 Jon Kayyem, Trustee

 
	
	
	 /s/ Quinn Deveraux    

	 Quinn Deveraux

 SIGNATURE PAGE TO AMENDED
AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
			
	INVESTORS:
	
	RA CAPITAL HEALTHCARE FUND, L.P.
		
	 By:
	 	 RA Capital Management, LLC, its general partner

		
	 By:
	 	 /s/ Rajeev Shah    

	 Name: Rajeev Shah

	 Title: Authorized Signatory

	
	BLACKWELL PARTNERS LLC – SERIES A
		
	 By:
	 	 /s/ Abayomi A. Adigun     

	 Name: Abayomi A. Adigun    

	 Title: Investment Manager

	   DUMAC, Inc., Authorized Agent    

		
	 By:
	 	 /s/ Jannine M. Lall    

 
			
	 Name:
	 	 Jannine M. Lall

 
			
	 Title:
	 	 Head of Finance & Controller

		 	 DUMAC, Inc., Authorized Agent

	
	DOUGLAS G. FORSYTH AND ROSANNA FORSYTH AS CO-TRUSTEES OF THE FORSYTH FAMILY TRUST DATED JULY 20, 2001

			
		
	 By:
	 	 /s/ Doug Forsyth    

		 	 Doug Forsyth, Trustee

	
	LAV SUMMIT LIMITED
	
	 /s/ Yu Luo    

	 Name: Yu Luo

	 Title: Authorized Signatory

	
	 MARGERY B. FISCHBEIN SEPARATE PROPERTY TRUST DATED SEPTEMBER 4, 2009

		
	 By:
	 	 /s/ Margery B. Fischbein     

		 	 Margery B. Fischbein, Trustee

 SIGNATURE PAGE TO AMENDED
AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
			
	DRAGSA 50 LLC
		
	By:	 	Viking Global Investors LP
	Its:	 	Non-Member Manager
		
	By:	 	 /s/ Mathew Bloom     

		
	 Name:
	 	 Matthew
Bloom    

 
			
		
	 Title:
	 	 Associate General Counsel    

 SIGNATURE PAGE TO AMENDED
AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 SCHEDULE A 

Investors 
  

			
	 Name
	  	 Address

	 LAV SUMMIT LIMITED
	  	
		
	 RA CAPITAL HEALTHCARE FUND, L.P.
	  	
		
	 BLACKWELL PARTNERS LLC – SERIES A 
	  	
		
	 Douglas G Forsyth and Rosanna Forsyth as Co Trustees of the Forsyth Family Trust, Dated July 20, 2001
	  	
		
	 Nygaard Children’s Trust
	  	
		
	 U.S. Trust Company of Delaware, Trustee under Agreement Dated December 7, 2005 by Erik P. Nygaard (“Newfarm
12/07/05 Trust”)
	  	
		
	 MPH Holdings, LLC
	  	
		
	 Margery B. Fischbein Separate Property Trust dated September 4, 2009
	  	
		
	 Mark Williamson
	  	
		
	 Wuxi Biologics Healthcare Venture
	  	
		
	 City Hill, LLC
	  	
		
	 The Terrie L. Holly, Marital Trust
	  	
		
	 Alexandria Venture Investments, LLC
	  	
		
	 Mintz Levin Special Investment Fund LLC – Series FY19
	  	
		
	 Meridian Small Cap Growth Fund
	  	
		
	 Arrowmark Life Science Fund, L.P.
	  	
		
	 Arrowmark Fundamental Opportunity Fund, L.P.
	  	
		
	 Lookfar Investments, LLC
	  	
		
	 CF Ascent LLC
	  	
		
	 THB Iron Rose LLC
	  	
		
	 Iron Horse Investment, LLC
	  	
		
	 THB Iron Rose LLC, Life Science Portfolio
	  	
		
	 Tony Yao
	  	
		
	 DRAGSA 50 LLC
	  	

 SCHEDULE B 

Key Holders 
  

	
	 Name

	 Douglas G. Forsyth and Rosanna Forsyth, as Co-trustees of the Forsyth Family Trust
dated July 20, 2001

	
	 Newfarm 12/07/05 Trust

	
	 Robert and Milly Kayyem, Husband and Wife

	
	 The Girls, LLC

	
	 The Jon F. Kayyem and Paige Gates-Kayyem Family Trust

	
	 Efficacy Capital LLC

	
	 Mark Paul Lappe

	
	 Quinn Deveraux

	
	 Brendan Eckelman

	
	 John Timmer

	
	 Amir Razai

	
	 Kyle Jones

	
	 Victor Nizet

	
	 Guy Salvesen

	
	 The Alpha-1 Project, Inc.

	
	 Klaus WagnerEX-4.3

 Exhibit 4.3 
  

RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
  

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
	1.	  	Definitions	  	 	1	 
			
	2.	  	 Agreement Among the Company, the Investors and the Key Holders
	  	 	3	 
		  	2.1	  	Right of First Refusal	  	 	3	 
		  	2.2	  	Right of Co-Sale	  	 	5	 
		  	2.3	  	Effect of Failure to Comply	  	 	7	 
			
	3.	  	 Exempt Transfers
	  	 	7	 
		  	3.1	  	Exempted Transfers	  	 	8	 
		  	3.2	  	Exempted Offerings	  	 	8	 
			
	4.	  	 Legend
	  	 	8	 
			
	5.	  	 Lock-Up
	  	 	9	 
		  	5.1	  	Agreement to Lock-Up	  	 	9	 
		  	5.2	  	Stop Transfer Instructions	  	 	9	 
			
	6.	  	 Restriction on Competition
	  	 	9	 
			
	7.	  	 Miscellaneous
	  	 	10	 
		  	7.1	  	Term	  	 	10	 
		  	7.2	  	Stock Split	  	 	10	 
		  	7.3	  	Ownership	  	 	10	 
		  	7.4	  	Dispute Resolution	  	 	10	 
		  	7.5	  	Notices	  	 	11	 
		  	7.6	  	Entire Agreement	  	 	12	 
		  	7.7	  	Delays or Omissions	  	 	12	 
		  	7.8	  	Amendment; Waiver and Termination	  	 	12	 
		  	7.9	  	Assignment of Rights	  	 	13	 
		  	7.10	  	Severability	  	 	14	 
		  	7.11	  	Additional Investors	  	 	14	 
		  	7.12	  	Governing Law	  	 	14	 
		  	7.13	  	Titles and Subtitles	  	 	14	 
		  	7.14	  	Counterparts	  	 	14	 
		  	7.15	  	Aggregation of Stock	  	 	14	 
		  	7.16	  	Specific Performance	  	 	14	 
		  	7.17	  	Consent of Spouse	  	 	14	 

 Schedule A     -     Investors 

Schedule B     -     Key Holders 

Schedule C     -     Non-Compete Parties 

Exhibit A        -     Consent of Spouse 

  
 i 

 RIGHT OF FIRST REFUSAL 

AND CO-SALE AGREEMENT 

THIS RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT (this “Agreement”),
is made as of the 30 day of April, 2018 by and among Inhibrx, Inc., a Delaware corporation formerly known as Tenium Therapeutics, Inc. (the “Company”), the Investors (as defined below) listed on Schedule A
and the Key Holders (as defined below) listed on Schedule B. 
 WHEREAS, in connection with
the consummation of the transactions contemplated by that certain Agreement and Plan of Merger, dated as of April 30, 2018, by and among certain Target Parties (as defined therein) and the Company (the “Merger Agreement”),
certain Investors received shares of Preferred Stock (as defined below) of the Company, set forth opposite the name of such Investors on Schedule A, and certain Key Holders became the beneficial owner of the number of shares of Capital Stock
set forth opposite the name of such Key Holder on Schedule B; 
 WHEREAS, in connection
with the consummation of the transactions contemplated by that certain Exchange Agreement, dated as of April 30, 2018, by and among the Members (as defined therein) and the Company (the “Exchange Agreement”), certain Investors
received shares of Preferred Stock set forth apposite the name of such Investors on Schedule A and certain Key Holders became the beneficial owner of the number of shares of Capital Stock set forth opposite the name of such Key Holder on
Schedule B; 
 WHEREAS, the Company anticipates entering into a Series Mezzanine 2 Preferred Stock Purchase
Agreement with certain parties that will become party to this Agreement (the “Future Purchasers”) on such date and with such terms as are to be determined by the Company (the “Purchase
Agreement”); and 
 WHEREAS, the Key Holders and the Company desire to further induce certain of the
Investors to approve the Merger Agreement and the Exchange Agreement and the Future Purchasers to purchase the Preferred Stock pursuant to the Purchase Agreement. 

NOW, THEREFORE, the Company, the Key Holders and the Investors agree as follows: 

1.    Definitions. 

1.1    “Affiliate” means, with respect to any specified Investor, any other Investor who
directly or indirectly, controls, is controlled by or is under common control with such Investor, including, without limitation, any general partner, managing member, officer, director or trustee of such Investor, or any venture capital fund or
registered investment company now or hereafter existing which is controlled by one or more general partners, managing members or investment advisers of, or shares the same management company or investment adviser with, such Investor. 

1.2    “Board of Directors” means the board of directors of the Company. 

1.3    “Capital Stock” means (a) shares of Common Stock, Series Mezzanine 1
Preferred Stock (whether now outstanding or hereafter issued in any context) and Series Mezzanine 2 Preferred Stock (whether now outstanding or hereafter issued in any context) (collectively, the “Preferred Stock”), (b) shares of
Common Stock issued or issuable upon 

  
 1 

 
conversion of Preferred Stock, and (c) shares of Common Stock issued or issuable upon exercise or conversion, as applicable, of stock options, warrants or other convertible securities of the
Company, in each case now owned or subsequently acquired by any Key Holder, any Investor, or their respective successors or permitted transferees or assigns. For purposes of the number of shares of Capital Stock held by an Investor or Key Holder (or
any other calculation based thereon), all shares of Preferred Stock shall be deemed to have been converted into Common Stock at the then-applicable conversion ratio. 

1.4    “Change of Control” means a transaction or series of related transactions in which
a person, or a group of related persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company. 

1.5    “Common Stock” means shares of Common Stock of the Company, $0.0001 par value per
share. 
 1.6    “Company Notice” means written notice from the Company notifying the
selling Key Holders and each Investor that the Company intends to exercise its Right of First Refusal as to some or all of the Transfer Stock with respect to any Proposed Key Holder Transfer. 

1.7    “Investor Notice” means written notice from any Investor notifying the Company and
the selling Key Holder(s) that such Investor intends to exercise its Secondary Refusal Right as to a portion of the Transfer Stock with respect to any Proposed Key Holder Transfer. 

1.8    “Investors” means the persons named on Schedule A
hereto, each person to whom the rights of an Investor are assigned pursuant to Subsection 6.9, each person who hereafter becomes a signatory to this Agreement pursuant to Subsection 6.11 and any one of them, as the context may require;
provided, however, that any such person shall cease to be considered an Investor for purposes of this Agreement at any time such person and his, her or its Affiliates collectively hold fewer than 100,000 shares of Capital Stock (as
adjusted for any stock combination, stock split, stock dividend, recapitalization or other similar transaction). 

1.9    “Key Holders” means the persons named on Schedule B
hereto, each person to whom the rights of a Key Holder are assigned pursuant to Subsection 3.1, each person who hereafter becomes a signatory to this Agreement pursuant to Subsection 6.9 and any one of them, as the context may require.

 1.10 “LAV” means LAV Summit Limited. 

1.11    “Proposed Key Holder Transfer” means any assignment, sale, offer to sell, pledge,
mortgage, hypothecation, encumbrance, disposition of or any other like transfer or encumbering of any Transfer Stock (or any interest therein) proposed by any of the Key Holders. 

1.12    “Proposed Transfer Notice” means written notice from a Key Holder setting forth
the terms and conditions of a Proposed Key Holder Transfer. 
 1.13 “Prospective Transferee” means any
person to whom a Key Holder proposes to make a Proposed Key Holder Transfer. 

  
 2 

 1.14    “Restated Certificate” means
the Company’s Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time. 

1.15    “Right of Co-Sale” means the right, but
not an obligation, of an Investor to participate in a Proposed Key Holder Transfer on the terms and conditions specified in the Proposed Transfer Notice. 

1.16    “Right of First Refusal” means the right, but not an obligation, of the Company,
or its permitted transferees or assigns, to purchase some or all of the Transfer Stock with respect to a Proposed Key Holder Transfer, on the terms and conditions specified in the Proposed Transfer Notice. 

1.17    “Secondary Notice” means written notice from the Company notifying the Investors
and the selling Key Holder that the Company does not intend to exercise its Right of First Refusal as to all shares of any Transfer Stock with respect to a Proposed Key Holder Transfer, on the terms and conditions specified in the Proposed Transfer
Notice. 
 1.18    “Secondary Refusal Right” means the right, but not an obligation, of
each Investor to purchase up to its pro rata portion (based upon the total number of shares of Capital Stock then held by all Investors) of any Transfer Stock not purchased pursuant to the Right of First Refusal, on the terms and conditions
specified in the Proposed Transfer Notice. 
 1.19    “Transfer Stock” means shares of
Capital Stock owned by a Key Holder (which, for the avoidance of doubt, does not include any Preferred Stock held by an Investor) or issued to a Key Holder after the date hereof (including, without limitation, in connection with any stock split,
stock dividend, recapitalization, reorganization, or the like). 
 1.20    “Undersubscription
Notice” means written notice from an Investor notifying the Company and the selling Key Holder that such Investor intends to exercise its option to purchase all or any portion of the Transfer Stock not purchased pursuant to the Right of
First Refusal or the Secondary Refusal Right. 
 2.    Agreement Among
the Company, the Investors and the Key Holders. 
 2.1    Right of
First Refusal. 
 (a)    Grant. Subject to the terms of Section 3
below, each Key Holder hereby unconditionally and irrevocably grants to the Company a Right of First Refusal to purchase all or any portion of Transfer Stock that such Key Holder may propose to transfer in a Proposed Key Holder Transfer, at the same
price and on the same terms and conditions as those offered to the Prospective Transferee. 

(b)    Notice. Each Key Holder proposing to make a Proposed Key Holder Transfer must deliver a
Proposed Transfer Notice to the Company and each Investor not later than forty-five (45) days prior to the consummation of such Proposed Key Holder Transfer. Such Proposed Transfer Notice shall contain the material terms and conditions
(including price and form of consideration) of the Proposed Key Holder Transfer, the identity of the Prospective Transferee and the intended date of the Proposed Key Holder Transfer. To exercise its Right of First Refusal

  
 3 

 
under this Section 2, the Company must deliver a Company Notice to the selling Key Holder and the Investors within fifteen (15) days after delivery of the Proposed
Transfer Notice specifying the number of shares of Transfer Stock to be purchased by the Company. 

(c)    Grant of Secondary Refusal Right to the Investors. Subject to the terms of
Section 3 below, each Key Holder hereby unconditionally and irrevocably grants to the Investors a Secondary Refusal Right to purchase all or any portion of the Transfer Stock not purchased by the Company pursuant to the
Right of First Refusal, as provided in this Subsection 2.1(c). If the Company does not provide the Company Notice exercising its Right of First Refusal with respect to all Transfer Stock subject to a Proposed Key Holder Transfer, the Company
must deliver a Secondary Notice to the selling Key Holder and to each Investor to that effect no later than fifteen (15) days after the selling Key Holder delivers the Proposed Transfer Notice to the Company. To exercise its Secondary Refusal
Right, an Investor must deliver an Investor Notice to the selling Key Holder and the Company within ten (10) days after the Company’s deadline for its delivery of the Secondary Notice as provided in the preceding sentence. 

(d)    Undersubscription of Transfer Stock. If options to purchase have been exercised by the
Company and the Investors pursuant to Subsections 2.1(b) and (c) with respect to some but not all of the Transfer Stock by the end of the ten (10) day period specified in the last sentence of Subsection 2.1(c) (the “Investor
Notice Period”), then the Company shall, within five (5) days after the expiration of the Investor Notice Period, send written notice (the “Company Undersubscription Notice”) to those Investors who fully exercised
their Secondary Refusal Right within the Investor Notice Period (the “Exercising Investors”). Each Exercising Investor shall, subject to the provisions of this Subsection 2.1(d), have an additional option to purchase all or
any part of the balance of any such remaining unsubscribed shares of Transfer Stock on the terms and conditions set forth in the Proposed Transfer Notice. To exercise such option, an Exercising Investor must deliver an Undersubscription Notice to
the selling Key Holder and the Company within ten (10) days after the expiration of the Investor Notice Period. In the event there are two (2) or more such Exercising Investors that choose to exercise the last-mentioned option for a total
number of remaining shares in excess of the number available, the remaining shares available for purchase under this Subsection 2.1(d) shall be allocated to such Exercising Investors pro rata based on the number of shares of Transfer Stock
such Exercising Investors have elected to purchase pursuant to the Secondary Refusal Right (without giving effect to any shares of Transfer Stock that any such Exercising Investor has elected to purchase pursuant to the Company Undersubscription
Notice). If the options to purchase the remaining shares are exercised in full by the Exercising Investors, the Company shall immediately notify all of the Exercising Investors and the selling Key Holder of that fact. 

(e)    Forfeiture of Rights. Notwithstanding the foregoing, if the total number of shares of
Transfer Stock that the Company and the Investors have agreed to purchase in the Company Notice, Investor Notices and Undersubscription Notices is less than the total number of shares of Transfer Stock, then the Company and the Investors shall be
deemed to have forfeited any right to purchase such Transfer Stock, and the selling Key Holder shall be free to sell all, but not less than all, of the Transfer Stock to the Prospective Transferee on terms and conditions substantially similar to
(and in no event more favorable than) the terms and conditions set forth in the Proposed Transfer Notice, it being understood and agreed that (i) any such sale or transfer shall be subject to the other terms and restrictions of this Agreement,
including, without limitation, the 

  
 4 

 
terms and restrictions set forth in Subsections 2.2 and 6.9(b); (ii) any future Proposed Key Holder Transfer shall remain subject to the terms and conditions of this Agreement,
including this Section 2; and (iii) such sale shall be consummated within forty-five (45) days after receipt of the Proposed Transfer Notice by the Company and, if such sale is not consummated within such
forty-five (45) day period, such sale shall again become subject to the Right of First Refusal and Secondary Refusal Right on the terms set forth herein. 

(f)    Consideration; Closing. If the consideration proposed to be paid for the Transfer Stock is
in property, services or other non-cash consideration, the fair market value of the consideration shall be as determined in good faith by the Board of Directors and as set forth in the Company Notice. If the
Company or any Investor cannot for any reason pay for the Transfer Stock in the same form of non-cash consideration, the Company or such Investor may pay the cash value equivalent thereof, as determined in
good faith by the Board of Directors and as set forth in the Company Notice. The closing of the purchase of Transfer Stock by the Company and the Investors shall take place, and all payments from the Company and the Investors shall have been
delivered to the selling Key Holder, by the later of (i) the date specified in the Proposed Transfer Notice as the intended date of the Proposed Key Holder Transfer; and (ii) forty-five (45) days after delivery of the Proposed
Transfer Notice. 
 2.2    Right of
Co-Sale. 
 (a)    Exercise of Right. If any
Transfer Stock subject to a Proposed Key Holder Transfer is not purchased pursuant to Subsection 2.1 above and thereafter is to be sold to a Prospective Transferee, each respective Investor may elect to exercise its Right of Co-Sale and participate on a pro rata basis in the Proposed Key Holder Transfer as set forth in Subsection 2.2(b) below and, subject to Subsection 2.2(d), otherwise on the same terms and conditions
specified in the Proposed Transfer Notice. Each Investor who desires to exercise its Right of Co-Sale (each, a “Participating Investor”) must give the selling Key Holder written notice to that
effect within fifteen (15) days after the deadline for delivery of the Secondary Notice described above, and upon giving such notice such Participating Investor shall be deemed to have effectively exercised the Right of Co-Sale. 
 (b)    Shares Includable. Each Participating
Investor may include in the Proposed Key Holder Transfer all or any part of such Participating Investor’s Capital Stock equal to the product obtained by multiplying (i) the aggregate number of shares of Transfer Stock subject to the
Proposed Key Holder Transfer (excluding shares purchased by the Company or the Participating Investors pursuant to the Right of First Refusal or the Secondary Refusal Right) by (ii) a fraction, the numerator of which is the number of shares of
Capital Stock owned by such Participating Investor immediately before consummation of the Proposed Key Holder Transfer and the denominator of which is the total number of shares of Capital Stock owned, in the aggregate, by all Participating
Investors immediately prior to the consummation of the Proposed Key Holder Transfer, plus the number of shares of Transfer Stock held by the Key Holders. To the extent one (1) or more of the Participating Investors exercise such right of
participation in accordance with the terms and conditions set forth herein, the number of shares of Transfer Stock that the selling Key Holder may sell in the Proposed Key Holder Transfer shall be correspondingly reduced. 

  
 5 

 (c)    Purchase and Sale Agreement. The
Participating Investors and the selling Key Holder agree that the terms and conditions of any Proposed Key Holder Transfer in accordance with this Subsection 2.2 will be memorialized in, and governed by, a written purchase and sale agreement
with the Prospective Transferee (the “Purchase and Sale Agreement”) with customary terms and provisions for such a transaction, and the Participating Investors and the selling Key Holder further covenant and agree to enter into such
Purchase and Sale Agreement as a condition precedent to any sale or other transfer in accordance with this Subsection 2.2. 

(d)    Allocation of Consideration. 

(i)    Subject to Subsection 2.2(d)(ii), the aggregate consideration payable to the Participating
Investors and the selling Key Holder shall be allocated based on the number of shares of Capital Stock sold to the Prospective Transferee by each Participating Investor and the selling Key Holder as provided in Subsection 2.2(b),
provided that if a Participating Investor wishes to sell Preferred Stock, the price set forth in the Proposed Transfer Notice shall be appropriately adjusted based on the conversion ratio of the Preferred Stock into Common Stock. 

(ii)    In the event that the Proposed Key Holder Transfer constitutes a Change of Control, the terms of
the Purchase and Sale Agreement shall provide that the aggregate consideration from such transfer shall be allocated to the Participating Investors and the selling Key Holder in accordance with Sections 2.1 and 2.2 of Article IV(B) of the Restated
Certificate as if (A) such transfer were a Deemed Liquidation Event (as defined in the Restated Certificate), and (B) the Capital Stock sold in accordance with the Purchase and Sale Agreement were the only Capital Stock outstanding. 

(e)    Purchase by Selling Key Holder; Deliveries. Notwithstanding Subsection 2.2(c) above,
if any Prospective Transferee or Transferees refuse(s) to purchase securities subject to the Right of Co-Sale from any Participating Investor or Investors or upon the failure to negotiate in good faith a
Purchase and Sale Agreement reasonably satisfactory to the Participating Investors, no Key Holder may sell any Transfer Stock to such Prospective Transferee or Transferees unless and until, simultaneously with such sale, such Key Holder purchases
all securities subject to the Right of Co-Sale from such Participating Investor or Investors on the same terms and conditions (including the proposed purchase price) as set forth in the Proposed Transfer
Notice and as provided in Subsection 2.2(d)(i); provided, however, if such sale constitutes a Change of Control, the portion of the aggregate consideration paid by the selling Key Holder to such Participating Investor or
Investors shall be made in accordance with the first sentence of Subsection 2.2(d)(ii). In connection with such purchase by the selling Key Holder, such Participating Investor or Investors shall deliver to the selling Key Holder any stock
certificate or certificates, properly endorsed for transfer, representing the Capital Stock being purchased by the selling Key Holder (or request that the Company effect such transfer in the name of the selling Key Holder). Any such shares
transferred to the selling Key Holder will be transferred to the Prospective Transferee against payment therefor in consummation of the sale of the Transfer Stock pursuant to the terms and conditions specified in the Proposed Transfer Notice, and
the selling Key Holder shall concurrently therewith remit or direct payment to each such Participating Investor the portion of the aggregate consideration to which each such Participating Investor is entitled by reason of its participation in such
sale as provided in this Subsection 2.2(e). 

  
 6 

 (f)    Additional Compliance. If any Proposed
Key Holder Transfer is not consummated within sixty (60) days after receipt of the Proposed Transfer Notice by the Company, the Key Holders proposing the Proposed Key Holder Transfer may not sell any Transfer Stock unless they first comply in
full with each provision of this Section 2. The exercise or election not to exercise any right by any Investor hereunder shall not adversely affect its right to participate in any other sales of Transfer Stock subject to
this Subsection 2.2. 
 2.3    Effect of
Failure to Comply. 
 (a)    Transfer Void; Equitable Relief. Any Proposed Key Holder
Transfer not made in compliance with the requirements of this Agreement shall be null and void ab initio, shall not be recorded on the books of the Company or its transfer agent and shall not be recognized by the Company. Each party hereto
acknowledges and agrees that any breach of this Agreement would result in substantial harm to the other parties hereto for which monetary damages alone could not adequately compensate. Therefore, the parties hereto unconditionally and irrevocably
agree that any non-breaching party hereto shall be entitled to seek protective orders, injunctive relief and other remedies available at law or in equity (including, without limitation, seeking specific
performance or the rescission of purchases, sales and other transfers of Transfer Stock not made in strict compliance with this Agreement). 

(b)    Violation of First Refusal Right. If any Key Holder becomes obligated to sell any Transfer
Stock to the Company or any Investor under this Agreement and fails to deliver such Transfer Stock in accordance with the terms of this Agreement, the Company and/or such Investor may, at its option, in addition to all other remedies it may have,
send to such Key Holder the purchase price for such Transfer Stock as is herein specified and transfer to the name of the Company or such Investor (or request that the Company effect such transfer in the name of an Investor) on the Company’s
books any certificates, instruments, or book entry representing the Transfer Stock to be sold. 

(c)    Violation of Co-Sale Right. If any Key Holder
purports to sell any Transfer Stock in contravention of the Right of Co-Sale (a “Prohibited Transfer”), each Participating Investor who desires to exercise its Right of Co-Sale under Subsection 2.2 may, in addition to such remedies as may be available by law, in equity or hereunder, require such Key Holder to purchase from such Participating Investor the type and number of
shares of Capital Stock that such Participating Investor would have been entitled to sell to the Prospective Transferee had the Prohibited Transfer been effected in compliance with the terms of Subsection 2.2. The sale will be made on the
same terms, including, without limitation, as provided in Subsection 2.2(d)(i) and the first sentence of Subsection 2.2(d)(ii), as applicable, and subject to the same conditions as would have applied had the Key Holder not made the
Prohibited Transfer, except that the sale (including, without limitation, the delivery of the purchase price) must be made within ninety (90) days after the Participating Investor learns of the Prohibited Transfer, as opposed to the timeframe
proscribed in Subsection 2.2. Such Key Holder shall also reimburse each Participating Investor for any and all reasonable and documented
out-of-pocket fees and expenses, including reasonable legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of the Participating
Investor’s rights under Subsection 2.2. 

3.    Exempt Transfers. 

  
 7 

 3.1    Exempted
Transfers. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Subsections 2.1 and 2.2 shall not apply (a) in the case of a Key Holder that is an entity, upon a transfer by such Key Holder to
its stockholders, members, partners or other equity holders, (b) to a repurchase of Transfer Stock from a Key Holder by the Company at a price no greater than that originally paid by such Key Holder for such Transfer Stock and pursuant to an
agreement containing vesting and/or repurchase provisions approved by a majority of the Board of Directors, (c) in the case of a Key Holder that is a natural person, upon a transfer of Transfer Stock by such Key Holder made for bona fide estate
planning purposes, either during his or her lifetime or on death by will or intestacy to his or her spouse, child (natural or adopted), or any other direct lineal descendant of such Key Holder (or his or her spouse) (all of the foregoing
collectively referred to as “family members”), or any custodian or trustee of any trust, partnership or limited liability company for the benefit of, or the ownership interests of which are owned wholly by such Key Holder or any such
family members; or (d) to the sale by the Key Holder of up to 5% of the Transfer Stock held by such Key Holder as of the date that such Key Holder first became party to this Agreement; provided that in the case of clause(s) (a), (c) or
(d), the Key Holder shall deliver prior written notice to the Investors of such gift or transfer and such shares of Transfer Stock shall at all times remain subject to the terms and restrictions set forth in this Agreement and such transferee shall,
as a condition to such issuance, deliver a counterpart signature page to this Agreement as confirmation that such transferee shall be bound by all the terms and conditions of this Agreement as a Key Holder (but only with respect to the securities so
transferred to the transferee), including the obligations of a Key Holder with respect to Proposed Key Holder Transfers of such Transfer Stock pursuant to Section 2. 

3.2    Exempted Offerings. Notwithstanding the foregoing or anything
to the contrary herein, the provisions of Section 2 shall not apply to the sale of any Transfer Stock (a) to the public in an offering pursuant to an effective registration statement under the Securities Act of 1933,
as amended (a “Public Offering”); or (b) pursuant to a Deemed Liquidation Event (as defined in the Restated Certificate). 

4.    Legend. Each certificate, instrument, or book entry
representing shares of Transfer Stock held by the Key Holders or issued to any permitted transferee in connection with a transfer permitted by Subsection 3.1 hereof shall be notated with the following legend: 

THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED HEREBY IS SUBJECT TO, AND IN CERTAIN CASES
PROHIBITED BY, THE TERMS AND CONDITIONS OF A CERTAIN RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT BY AND AMONG THE STOCKHOLDER, THE CORPORATION AND CERTAIN OTHER HOLDERS OF STOCK OF THE CORPORATION. COPIES OF
SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION. 
 Each Key Holder agrees that the Company may
instruct its transfer agent to impose transfer restrictions on the shares notated with the legend referred to in this Section 4 above to enforce the provisions of this Agreement, and the Company agrees to promptly do so.
The legend shall be removed upon termination of this Agreement at the request of the holder. 

  
 8 

 5.    Lock-Up. 
 5.1    Agreement to
Lock-Up. Each Key Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the
Company’s initial public offering (the “IPO”) and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days) (a) lend, offer, pledge, sell,
contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Capital Stock held
immediately prior to the effectiveness of the registration statement for the IPO; or (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Capital
Stock, whether any such transaction described in clause (a) or (b) above is to be settled by delivery of Capital Stock or other securities, in cash or otherwise. The foregoing provisions of this Section 5 shall
not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable to the Key Holders if all officers, directors and holders of more than one percent (1%) of the outstanding Common Stock (after
giving effect to the conversion into Common Stock of all outstanding Preferred Stock) enter into similar agreements. The underwriters in connection with the IPO are intended third-party beneficiaries of this
Section 5 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Key Holder further agrees to execute such agreements as may be reasonably requested by the
underwriters in the IPO that are consistent with this Section 5 or that are necessary to give further effect thereto. 

5.2    Stop Transfer Instructions. In order to enforce the
foregoing covenant, the Company may impose stop-transfer instructions with respect to the shares of Capital Stock of each Key Holder (and transferees and assignees thereof) until the end of such restricted period. 

6.    Restriction on Competition. Unless a majority-in-interest of the Investors (including LAV) otherwise consent in writing, each person named on Schedule C (each a
“Non-Compete Party”) (a) so long as such Non-Compete Party is a director, officer, employee or a direct or indirect holder of Capital Stock,
shall devote no less than substantially all of his/her business time and attention to the business of the Company, use his/her best efforts to develop the business and interests of the Company, and refrain from being employed by any Person other
than the Company or its Affiliates except with respect to any position being held by such Non-Compete Party as of the date of this Agreement that has been disclosed to the Investors, and (b) so long as
such Non-Compete Party is a director, officer, employee or a direct or indirect holder of Capital Stock and for two (2) years after such Non-Compete Party is no
longer a director, officer, employee or a direct or indirect holder of Capital Stock, shall not, and shall cause his/her Affiliates not to, directly or indirectly, (i) own, manage, engage in, operate, control, work for, consult with, render
services for, do business with, maintain any interest in (proprietary, financial or otherwise) or participate in the ownership, management, operation or control of, any business, whether in corporate, proprietorship or partnership form or otherwise,
that is related to the business of the Company or otherwise competes with the Company or its business as now conduct or currently contemplated to be conducted (a “Restricted Business”), provided, however, that
the restrictions contained in this clause (i) shall not restrict the acquisition by such Non-Compete Party, directly or indirectly, of less than 1% of the outstanding share capital of any publicly
traded company engaged in a Restricted Business, (ii) solicit any Person who is or has been at any time a customer 

  
 9 

 or commercial partner of the Company or its Affiliates for the purpose of offering to such
customer or commercial partner products or services similar to or competing with those offered by the Company or its Affiliates, or canvass or solicit any Person who is or has been at any time a supplier or licensor or customer of the Company or its
Affiliates for the purpose of inducing any such Person to terminate its business relationship with the Company or its Affiliates, or (iii) solicit or entice away or endeavour to solicit or entice away any current or former director, officer,
consultant or employee of the Company or any of its Affiliates. Each of the Non-Compete Party expressly agrees that the limitations set forth in this section are reasonably tailored and reasonably necessary in
light of the circumstances. Furthermore, if any provision of this section is more restrictive than permitted by the laws of any jurisdiction in which a party seeks enforcement thereof, then this section will be enforced to the greatest extent
permitted by applicable law. Each of the undertakings contained in this section shall be enforceable by the Company and each Investor separately and independently of the right of the Company and the other Investors. 

7.    Miscellaneous. 

7.1    Term. This Agreement shall automatically terminate upon the
earlier of (a) immediately prior to the consummation of the Company’s IPO; and (b) the consummation of a Deemed Liquidation Event (as defined in the Restated Certificate). 

7.2    Stock Split. All references to numbers of shares in this
Agreement shall be appropriately adjusted to reflect any stock dividend, split, combination or other recapitalization affecting the Capital Stock occurring after the date of this Agreement. 

7.3    Ownership. Each Key Holder represents and warrants that such
Key Holder is the sole legal and beneficial owner of the shares of Transfer Stock subject to this Agreement and that no other person or entity has any interest in such shares (other than a community property interest as to which the holder thereof
has acknowledged and agreed in writing to the restrictions and obligations hereunder). 

7.4    Dispute Resolution. The parties (a) hereby irrevocably
and unconditionally submit to the jurisdiction of the state courts of California and to the jurisdiction of the United States District Court for the District of the Southern District of California for the purpose of any suit, action or other
proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of California or the United States District Court for
the District of the Southern District of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that
this Agreement or the subject matter hereof may not be enforced in or by such court. 
 WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS 

  
 10 

 INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL
DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

(a)    Any dispute, controversy, or claim (each a “Dispute”) arising out or relating to
this Agreement or the breach thereof shall be finally resolved by arbitration administered by the American Arbitration Association (“AAA”) under its then applicable Commercial Arbitration Rules (the “Rules”),
excluding its Supplementary Rules for Class Arbitrations. The place of arbitration shall be San Diego, California, U.S.A. The arbitration shall be conducted in English by one arbitrator appointed in accordance with the Rules. 

(b)    Joinder in the arbitration of any party who or that is not a party to this Agreement is not
permitted. Consolidation of any arbitration hereunder with any other arbitration proceeding is not permitted. The Expedited Procedures of the Rules shall apply irrespective of the amount in dispute, and notwithstanding the provisions of Rules R-1(b), and the Procedures for Large, Complex Commercial Disputes shall not apply, irrespective of the amount in dispute, notwithstanding the provisions of Rules R-1(c). 

(c)    Each party shall bear its own costs in respect of any proceedings hereunder. 

(d)    Except as may be required by law, no party nor the arbitrator may disclose the existence, content,
or results of any arbitration hereunder without the prior written consent of all parties to this Agreement. 

(e)    As a prerequisite to the commencement of arbitration of any Dispute, the parties hereto shall use
their best efforts to settle the Dispute by the following procedure. In the event of a Dispute, any party may give written Notice of the Dispute to the other parties hereto, specifying its nature, and shall therein demand a period of negotiation.
The parties shall thereupon consult and negotiate with each other in good faith in an effort to reach a settlement concerning the Dispute. If the parties do not reach a settlement of the Dispute within a period of 60 days following the date of
receipt of the aforesaid Notice by all parties, any party to this Agreement may then commence arbitration as aforesaid. 
 
7.5    Notices. 
 (a)    All notices and other communications given or
made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail

  
 11 

 
or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five (5) days after having been
sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written
verification of receipt. All communications shall be sent to the respective parties at their address as set forth on Schedule A or Schedule B hereof, as the case may be, or to such email address, facsimile number or address as
subsequently modified by written notice given in accordance with this Section 6.5. If notice is given to the Company, it shall be sent to 1099 N. Torrey Pines Road, Suite 280, La Jolla, CA 92037, Attention: Mark
Lappe; and a copy (which shall not constitute notice) shall also be sent to Jeremy Glaser, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 

(b)    Consent to Electronic Notice. Each Investor and Key Holder consents to the delivery of any
stockholder notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic
mail address or the facsimile number set forth below such Investor’s or Key Holder’s name on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company. Each Investor and Key Holder
agrees to promptly notify the Company of any change in its electronic mail address, and that failure to do so shall not affect the foregoing. 

7.6    Entire Agreement. This Agreement (including, the Exhibits
and Schedules hereto) constitutes the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the
parties are expressly canceled. 
 7.7    Delays or Omissions. No
delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or
default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of
any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing.
All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

7.8    Amendment; Waiver and Termination. This Agreement may be
amended, modified or terminated (other than pursuant to Section 6.1 above) and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only by
a written instrument executed by (a) the Company, (b) the Key Holders holding a majority of the shares of Transfer Stock then held by all of the Key Holder, and (c) the holders of a majority of the shares of Common Stock issued or
issuable upon conversion of the then outstanding shares of Preferred Stock held by the Investors (voting as a single separate class and on an as-converted basis). Any amendment, modification, termination or
waiver so effected 

  
 12 

 
shall be binding upon the Company, the Investors, the Key Holders and all of their respective successors and permitted assigns whether or not such party, assignee or other shareholder entered
into or approved such amendment, modification, termination or waiver. Notwithstanding the foregoing, (i) this Agreement may not be amended, modified or terminated and the observance of any term hereunder may not be waived with respect to any
Investor or Key Holder without the written consent of such Investor or Key Holder unless such amendment, modification, termination or waiver applies to all Investors and Key Holders, respectively, in the same fashion, (ii) this Agreement may
not be amended, modified or terminated and the observance of any term hereunder may not be waived with respect to any Investor without the written consent of such Investor, if such amendment, modification, termination or waiver would adversely
affect the rights of such Investor in a manner disproportionate to any adverse effect such amendment, modification, termination or waiver would have on the rights of the other Investors under this Agreement, (iii) the consent of the Key Holders
shall not be required for any amendment, modification, termination or waiver if such amendment, modification, termination or waiver does not apply to the Key Holders, and (iv) Schedule A hereto may be amended by the Company from time to time to
add information regarding Future Purchasers without the consent of the other parties hereto. The Company shall give prompt written notice of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not
consent in writing to such amendment, modification, termination or waiver. No waivers of or exceptions to any term, condition or provision of this Agreement, in any one or more instances, shall be deemed to be, or construed as, a further or
continuing waiver of any such term, condition or provision. 

7.9    Assignment of Rights. 

(a)    The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and permitted assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

(b)    Any successor or permitted assignee of any Key Holder, including any Prospective Transferee who
purchases shares of Transfer Stock in accordance with the terms hereof, shall deliver to the Company and the Investors, as a condition to any transfer or assignment, a counterpart signature page hereto pursuant to which such successor or permitted
assignee shall confirm their agreement to be subject to and bound by all of the provisions set forth in this Agreement that were applicable to the predecessor or assignor of such successor or permitted assignee. 

(c)    The rights of the Investors hereunder are not assignable without the Company’s written
consent (which shall not be unreasonably withheld, delayed or conditioned), except (i) by an Investor to any Affiliate, or (ii) to an assignee or transferee who acquires at least 400,000 shares of Capital Stock (as adjusted for any stock
combination, stock split, stock dividend, recapitalization or other similar transaction), it being acknowledged and agreed that any such assignment, including an assignment contemplated by the preceding clauses (i) or (ii) shall be subject to
and conditioned upon any such assignee’s delivery to the Company and the other Investors of a counterpart signature page hereto pursuant to which such assignee shall confirm their agreement to be subject to and bound by all of the provisions
set forth in this Agreement that were applicable to the assignor of such assignee. 

  
 13 

 (d)    Except in connection with an assignment by the
Company by operation of law to the acquirer of the Company, the rights and obligations of the Company hereunder may not be assigned under any circumstances. 

7.10    Severability. The invalidity or unenforceability of any
provision hereof shall in no way affect the validity or enforceability of any other provision. 
 
7.11    Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of the Company’s Preferred Stock after the date hereof, any purchaser of such shares
of Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and thereafter shall be deemed an “Investor” for all purposes hereunder. 

7.12    Governing Law. This Agreement shall be governed by and
interpreted and enforced in accordance with the laws of the State of California, U.S.A., applicable to contracts wholly made and performed therein by domiciliaries thereof. 

7.13    Titles and Subtitles. The titles and subtitles used in this
Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 
7.14    Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts
may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be
deemed to have been duly and validly delivered and be valid and effective for all purposes. 

7.15    Aggregation of Stock. All shares of Capital Stock held or
acquired by Affiliated entities or persons shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they
deem appropriate. 
 7.16    Specific Performance. In addition to
any and all other remedies that may be available at law in the event of any breach of this Agreement, each Investor shall be entitled to specific performance of the agreements and obligations of the Company and the Key Holders hereunder and to such
other injunction or other equitable relief as may be granted by a court of competent jurisdiction. 
 
7.17    Consent of Spouse. If any Key Holder is married on the date of this Agreement, such Key Holder’s spouse shall execute and deliver to the Company a Consent of Spouse in the form of Exhibit A hereto
(“Consent of Spouse”), effective on the date hereof. Notwithstanding the execution and delivery thereof, such consent shall not be deemed to confer or convey to the spouse any rights in such Key Holder’s shares of Transfer
Stock that do not otherwise exist by operation of law or the agreement of the parties. If any Key Holder should marry or remarry subsequent to the date of this Agreement, such Key Holder shall within thirty (30) days

  
 14 

 
thereafter obtain his/her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement by causing such spouse to execute
and deliver a Consent of Spouse acknowledging the restrictions and obligations contained in this Agreement and agreeing and consenting to the same. 

[Remainder of Page Intentionally Left Blank] 

  
 15 

 IN WITNESS WHEREOF, the parties have executed this Right of First Refusal
and Co-Sale Agreement as of the date first written above. 
  

	
	 INHIBRX, INC.

	
	 /s/ Mark Lappe

	 Mark Lappe, Chief Executive Officer

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 
			
	 KEY HOLDERS:

	
	 /s/ Mark Lappe

	 Mark Lappe

	
	 EFFICACY CAPITAL, LLC

	
	 /s/ Mark Lappe

	 Mark Lappe

Managing Member

	
	 MARK LAPPE ROTH IRA

	
	 /s/ Mark Lappe

Mark Lappe

	
	 THE ALPHA-1 PROJECT, INC.

		
	 By:
	 	 /s/ Juan-Marc Quach

	 Name:
	 	 Juan-Marc Quach

	 Title:
	 	 President and CEO

	
	 Abrahim Hussain

	 Printed Name of Individual

	
	 /s/ Abrahim Hussain

	 Signature of Individual

	
	 Amir Razai

	 Printed Name of Individual

	
	 /s/ Amir Razai

	 Signature of Individual

  

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

			
	 Analeah Heidt

Printed Name of Individual
  

/s/ Analeah Heidt

Signature of Individual

	
	 Andrew Hollands

Printed Name of Individual
  

/s/ Andrew Hollands

Signature of Individual

	
	 Annino Family Trust

Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Alfredo Annino

			
		
	 Name:
	 	 Alfredo Annino

			
		
	 Title:
	 	 Trustee

	
	 Arild Johansen

Printed Name of Individual
  

/s/ Arild Johansen

Signature of Individual

	
	 Brad Hayes

Printed Name of Individual
  

/s/ Brad Hayes

Signature of Individual

	
	 Brendan Eckelman

Printed Name of Individual
  

/s/ Brendan Eckelman

Signature of Individual

	
	 Bryan Becklund

Printed Name of Individual
  

/s/ Bryan Becklund

Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

			
	 Central Valley Administrators, Inc.

	 Printed Name of Entity

		
	 By:
	 	 /s/ Richard Merkin

			
		
	 Name:
	 	 Richard Merkin

			
		
	 Title:
	 	 President

			
	
	 Chelsie Hata

	 Printed Name of Individual

	
	 /s/ Chelsie Hata

	 Signature of Individual

	
	 Christopher A. Herr

	 Printed Name of Individual

	
	 /s/ Christopher A. Herr

	 Signature of Individual

	
	 City Hill Venture Partners I, LLC

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ Jonathan Lim

			
		
	 Name:
	 	 Jonathan Lim

			
		
	 Title:
	 	 Managing Partner

			
	
	 David & Lucy Eisenberg Living Trust

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ David Eisenberg

			
		
	 Name:
	 	 David Eisenberg

			
		
	 Title:
	 	 Trustee

			
		
	 By:
	 	 /s/ Lucy Eisenberg

			
		
	 Name:
	 	 Lucy Eisenberg

			
		
	 Title:
	 	 Trustee

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

			
	 Dennis Wasser Living Trust

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ Dennis M. Wasser

			
		
	 Name:
	 	 Dennis M. Wasser

			
		
	 Title:
	 	 Trustee

			
	
	 Diane C. Suntken

	 Printed Name of Individual

	
	 /s/ Diane C. Suntken

	 Signature of Individual

	
	 Florian Sulzmaier

	 Printed Name of Individual

	
	 /s/ Florian Sulzmaier

	 Signature of Individual

	
	 Glaser Revocable Trust

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ Jeremy D. Glaser

			
		
	 Name:
	 	 Jeremy D. Glaser

			
		
	 Title:
	 	 Trustee

			
	
	 Grant Guenther

	 Printed Name of Individual

	
	 /s/ Grant Guenther

	 Signature of Individual

	
	 Guy Salvesen

	 Printed Name of Individual

	
	 /s/ Guy Salvesen

	 Signature of Individual

	
	 Henry Chan

	 Printed Name of Individual

	
	 /s/ Henry Chan

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

			
	 HGA Trust II

	 Printed Name of Entity

		
	 By:
	 	 /s/ Jonathan
George

 
			
		
	 Name:
	 	 Jonathan George

 
			
		
	 Title:
	 	 Managing Trustee

	
	 The HAGF Limited Partnership

	 Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Henry J. George

 
			
		
	 Name:
	 	 Henry J. George

 
			
		
	 Title:
	 	 Managing Trustee

	
	 J.J. O’Neill Foundation DTD 12-29-1954

	 Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Jeffrey L. Brandon

 
			
		
	 Name:
	 	 Jeffrey L. Brandon

 
			
		
	 Title:
	 	 Trustee

	
	 Jacob J. Gano

	 Printed Name of Individual

	
	 /s/ Jacob J. Gano

	 Signature of Individual

	
	 Jason Ho

	 Printed Name of Individual

	
	 /s/ Jason Ho

	 Signature of Individual

	
	 John Reed

	 Printed Name of Individual

	
	 /s/ John Reed

	 Signature of Individual

	
	 John T. Aston

	 Printed Name of Individual

	
	 /s/ John T. Aston

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

			
	 Diane Catherine Suntken Revocable Trust dated October 11,
2018

	 Printed Name of Entity

		
	 By:
	 	 /s/ Diane Catherine
Suntken

 
			
	       
	 	 Diane Catherine Suntken, Trustee

 
			
	
	 John Timmer

	 Printed Name of Individual

 
	
	
	 /s/ John Timmer

 
	
	 Signature of Individual

 
			
	
	 Katelyn M. Willis

	 Printed Name of Individual

 
	
	
	 /s/ Katelyn M. Willis

 
	
	 Signature of Individual

 
			
	
	 Klaus W. Wagner, MD PhD

	 Printed Name of Individual

	
	 /s/ Klaus Wagner

	 Signature of Individual

	
	 Kyle Jones

	 Printed Name of Individual

	
	 /s/ Kyle Jones

	 Signature of Individual

	
	 Leana Nguyen

	 Printed Name of Individual

	
	 /s/ Leana Nguyen

	 Signature of Individual

	
	 Lucas Rascon

	 Printed Name of Individual

	
	 /s/ Lucas Rascon

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

	
	 Marit Sofie Johansen

	 Printed Name of Individual

	
	 /s/ Marit Sofie Johanen

	 Signature of Individual

	
	 Mars B Inc., Defined Benefit Plan

	 Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Robert Kayyem

			
		
	 Name:
	 	 Robert Kayyem

			
		
	 Title:
	 	 President

 
			
	
	 Michael Kaplan

	 Printed Name of Individual

 
	
	
	 /s/ Michael Kaplan

 
	
	 Signature of Individual

 
			
	
	 Milton Ma

	 Printed Name of Individual

	
	 /s/ Milton Ma

	 Signature of Individual

	
	 Partners Admin LLC

	 Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Scott Tominaga

 
			
		
	 Name:
	 	 Scott Tominaga

 
			
		
	 Title:
	 	 Chief Operating
Officer

 
			
	
	 Peter Mullin Family Trust UDT 12/18/00

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ Peter W.
Mullin

 
			
		
	 Name:
	 	 Peter W. Mullin

			
		
	 Title:
	 	 Trustee

			
	
	 Peter Nguy

	 Printed Name of Individual

	
	 /s/ Peter Nguy

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

			
	 OXFORD FINANCE LLC

		
	 By:
	 	
/s/ Colette H. Featherly

			
		
	 Name:
	 	
Colette H. Featherly

			
		
	 Title:
	 	 Senior Vice President

 
			
	
	 Polina Brodsky

	 Printed Name of Individual

 
	
	
	 /s/ Polina Brodsky

 
	
	 Signature of Individual

 
			
	
	 Quinn Deveraux

	 Printed Name of Individual

 
	
	
	 /s/ Quinn Deveraux

 
	
	 Signature of Individual

 
			
	
	 Ragnar Klevaas

	 Printed Name of Individual

	
	 /s/ Ragnar Klevaas

	 Signature of Individual

	
	 Rajay Pandit

	 Printed Name of Individual

	
	 /s/ Rajay Pandit

	 Signature of Individual

	
	 Douglas G. Forsyth and Rosanna Forsyth, as
Co-trustees of the Forsyth Family Trust, Dated July 20, 2001

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ Doug Forsyth

			
		
	 Name:
	 	 Doug
Forsyth

 
			
		
	 Title:
	 	
Trustee

			
	
	 Amy Conrad

	 Printed Name of Individual

	
	 /s/ Amy Conrad

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

	
	 U.S. TRUST COMPANY OF DELAWARE TRUSTEE UNDER AGREEMENT DATED DECEMBER 7 2005 BY ERIK P
NYGAARD (“Newfarm 12/07/05 Trust”)

	 Printed Name of Entity

			
		
	 By:
	 	
/s/ William E. Warren

			
		
	 Name:
	 	
William E. Warren

			
		
	 Title:
	 	
Vice President

 

	
	
	 Rand Mulford

	 Printed Name of Individual

 
	
	
	 /s/ Rand Mulford

	
	 Signature of Individual

 
			
	
	 Robert Kayyem

	 Printed Name of Individual

 
	
	
	 /s/ Robert Kayyem

 
	
	 Signature of Individual

 
			
	
	 Milly Kayyem

	 Printed Name of Individual

 
	
	
	 /s/ Milly Kayyem

	 Signature of Individual

 
	
	
	 Rutger Jackson

	
	 Printed Name of Individual

 
	
	
	 /s/ Rutger Jackson

	 Signature of Individual

			
	
	 Howell Family Trust Dtd 10/3/03

	 Printed Name of Entity

			
		
	 By:
	 	 /s/ Stephen B.
Howell

 
			
		
	 Name:
	 	 Stephen B. Howell

			
		
	 Title:
	 	 Trustee

			
	
	 Stephen B. Howell

	 Printed Name of Individual

	
	 /s/ Stephen B. Howell

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

	
	 Stuart Bussell

	 Printed Name of Individual

 
	
	
	 /s/ Stuart Bussell

	
	 Signature of Individual

 
	
	
	 The Girls, LLC

	 Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Robert Kayyem

			
		
	 Name:
	 	 Robert Kayyem

			
		
	 Title:
	 	 President

			
	
	 The Jon F. Kayyem and Paige Gates-Kayyem Family Trust

	 Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Jon Kayyem

 
			
		
	 Name:
	 	 Jon Kayyem

			
		
	 Title:
	 	 Trustee

 
			
	
	 Thomas Delaney

	 Printed Name of Individual

	
	 /s/ Thomas Delaney

	 Signature of Individual

	
	 Tom D. Linkous IRA

	 Printed Name of Individual

	
	
	 /s/ Tom D. Linkous

	 Signature of Individual

			
	
	 Will Crago

	 Printed Name of Individual

	
	
	 /s/ Will Crago

	
	 Signature of Individual

 
			
	
	 Victor Nizet, MD

	 Printed Name of Individual

	
	 /s/ Victor Nizet

	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

	
	 Diane C Suntken – IRA Services Trust Company FBO Diane C Suntken IRA

	 Printed Name of Individual

 
	
	
	 /s/ Diane C.
Suntken

 
	
	 Signature of Individual

 
	
	
	 Diane C Suntken – IRA Services Trust Company FBO Diane C Suntken Roth IRA

	 Printed Name of Individual

 
	
	
	 /s/ Diane C Suntken

	
	 Signature of Individual

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 
			
	INVESTORS:
	
	LAV SUMMIT LIMITED
	
	 /s/ Yu Luo

	 Yu Luo

	 Authorized Signatory

	
	RA CAPITAL HEALTHCARE FUND, L.P.
	 By: RA Capital Management, LLC, its general
partner

 
			
		
	 By:
	 	 /s/ Rajeev Shah

			
	 Name:
	 	 Rajeev Shah

			
	 Title:
	 	 Authorized Signatory

	
	BLACKWELL PARTNERS LLC – SERIES A

 
			
		
	 By:
	 	 /s/ Abayomi A. Adigun

 
			
	 Name:
	 	 Abayomi A. Adigun

	 Title:
	 	 Investment Manager

DUMAC, Inc., Authorized Agent

 
			
		
	 By:
	 	 /s/ Jannine M.
Lall

 
			
	 Name:
	 	 Jannine M. Lall

 
			
	 Title:  
	 	 Controller

DUMAC, Inc., Authorized Agent

 
			
	
	 City Hill, LLC

Printed Name of Entity

		
	 By:
	 	
/s/ Jonathan Lim

			
		
	 Name:
	 	 Jonathan Lim

			
		
	 Title:
	 	 Managing Partner

	
	 Douglas G Forsyth and Rosanna Forsyth as Co Trustees of the Forsyth Family Trust, Date
July 20, 2001
 Printed Name of Entity

		
	 By:
	 	 /s/ Doug Forsyth

			
		
	 Name:
	 	 Doug Forsyth

			
		
	 Title:
	 	 Trustee

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 
			
	 NYGAARD CHILDREN’S TRUST

Printed Name of Entity

			
		
	 By:
	 	
/s/ Pavla Nygaard

			
		
	 Name:
	 	 Pavla Nygaard

			
		
	 Title:
	 	 Trustee

	
	 U.S. TRUST COMPANY OF DELAWARE TRUSTEE UNDER AGREEMENT DATED DECEMBER 7 2005 BY ERIK P
NYGAARD (“Newfarm 12/07/05 Trust”)
 Printed Name of
Entity

 
			
		
	 By:
	 	 /s/ William E.
Warren

 
			
		
	 Name:
	 	 William E. Warren

			
		
	 Title:
	 	 Vice President

	
	 MPH Holdings, LLC

Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Christopher
Herr

 
			
		
	 Name:
	 	 Christopher Herr

			
		
	 Title:
	 	 Managing Partner

	
	 Margery B. Fischbein Separate Property Trust dated September 4, 2009

Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Margery
Fischbein

 
			
		
	 Name:
	 	 Margery Fischbein

			
		
	 Title:
	 	 Trustee

	
	 The Terrie L. Holly, Marital Trust

Printed Name of Entity

 
			
		
	 By:
	 	 /s/ Terrie Wright

			
		
	 Name:
	 	 Terrie Lee Holly
Wright

 
			
		
	 Title:
	 	 Trustee

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 
			
	 Mark T Williamson

Printed Name of Individual

	
	 /s/ Mark Williamson

Signature of Individual

	
	 ALEXANDRIA VENTURE INVESTMENTS, LLC, a

Delaware limited liability company

		
	 By:
	 	 ALEXANDRIA REAL ESTATE EQUITIES, INC.,

	
	 a Maryland corporation, managing
member

 
			
	 Printed Name of Entity

		
	 By:
	 	 /s/  Aaron
Jacobson

 
			
		
	 Name:
	 	 Aaron Jacobson

			
		
	 Title:
	 	 SVP – Venture Counsel

	
	 MINTZ LEVIN SPECIAL INVESTMENT FUND

LLC- Series FY19

 
			
		
	 By:
	 	 /s/  Marc
Mantell

 
			
		
	 Name:
	 	 Marc Mantell

			
		
	 Title:
	 	 Manager

	
	 MERIDIAN SMALL CAP GROWTH FUND

		
	 By:
	 	 its Investment Adviser

	ArrowMark Colorado Holdings, LLC

 
			
		
	 By:
	 	 /s/  David
Corkins

 
			
		
	 Name:
	 	 David Corkins

			
		
	 Title:
	 	 Managing Member

	
	 ARROWMARK LIFE SCIENCE FUND, LP

		
	 By:
	 	 its General Partner

	AMP Life Science GP, LLC

 
			
		
	 By:
	 	 /s/  David
Corkins

 
			
		
	 Name:
	 	 David Corkins

			
		
	 Title:
	 	 Managing Member

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 
			
	 ARROWMARK FUNDAMENTAL OPPORTUNITY FUND, L.P.

	
	 By: its General Partner

	ArrowMark Partners GP, LLC

 
			
		
	 By:
	 	 /s/ David Corkins

			
	 Name: David Corkins

	 Title: Managing Member

	
	 LOOKFAR INVESTMENTS, LLC

 
			
		
	 By:
	 	 /s/ David Corkins

			
	 Name: David Corkins

	 Title: Managing Member

	
	 CF ASCENT LLC

 
			
		
	 By:
	 	 /s/ David Corkins

			
	Name: David Corkins
	Title: Managing Member
	
	 THB IRON ROSE LLC

	
	 By: its Investment Adviser

ArrowMark Colorado Holdings LLC

 
			
		
	 By:
	 	 /s/ David Corkins

			
	Name: David Corkins
	Title: Managing Member
	
	 IRON HORSE INVESTMENT, LLC

	
	 By: its Investment Adviser

ArrowMark Colorado Holdings LLC

 
			
		
	 By:
	 	 /s/ David Corkins

			
	Name: David Corkins
	Title: Managing Member

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 
			
	 THB IRON ROSE LLC, LIFE SCIENCE PORTFOLIO

	
	 By: its Investment Adviser

	ArrowMark Colorado Holdings LLC

 
			
		
	 By:
	 	 /s/ David Corkins

			
	 Name: David Corkins

	 Title: Managing Member

	
	 /s/ Tony Yao

Tony Yao

	
	 WuXi Biologics Healthcare
Ventures

 
			
		
	 By:
	 	 /s/ Zhisheng Chen

			
		
	 Name:
	 	 Zhisheng Chen

			
		
	 Title:
	 	 Director

  

SIGNATURE PAGE TO RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT 

 SCHEDULE C 

NON-COMPETE PARTIES 

Name 
 Mark Paul
Lappe 
 Quinn Deveraux 
 Brandon
Eckelman 
 Klaus Wagner 
 John
Timmer 

 EXHIBIT A 

CONSENT OF SPOUSE 

I, [                ], spouse of
[                ], acknowledge that I have read the Right of First Refusal and Co-Sale Agreement, dated as of
[            ], 2018, to which this Consent is attached as Exhibit A (the “Agreement”), and that I know the contents of the Agreement. I am aware that the Agreement
contains provisions regarding certain rights to certain other holders of Capital Stock of the Company upon a Proposed Key Holder Transfer of shares of Transfer Stock of the Company which my spouse may own including any interest I might have therein.

 I hereby agree that my interest, if any, in any shares of Transfer Stock of the Company subject to the Agreement shall be
irrevocably bound by the Agreement and further understand and agree that any community property interest I may have in such shares of Transfer Stock of the Company shall be similarly bound by the Agreement. 

I am aware that the legal, financial and related matters contained in the Agreement are complex and that I am free to seek
independent professional guidance or counsel with respect to this Consent. I have either sought such guidance or counsel or determined after reviewing the Agreement carefully that I will waive such right. 

Dated as of the [    ] day of
[                    ,             ]. 

 

	
	
	  
 Signature

	
	  
 Print Name

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