Document:

EX-10.42

 [*] = Certain confidential information contained in this document, marked by brackets, is
filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit 10.42

  
 EXCLUSIVE PATENT LICENSE AGREEMENT 

BETWEEN 
  

THE UNIVERSITY OF TEXAS SYSTEM 
  

AND 
  

MIRAGEN THERAPEUTICS, INC. 

 
TABLE OF CONTENTS 
  

					
		  	 RECITALS
	  	 PAGE 1

			
	 1.
	  	 EFFECTIVE DATE
	  	 PAGE 1

			
	 2.
	  	 DEFINITIONS
	  	 PAGE 2

			
	 3.
	  	 WARRANTY: SUPERIOR-RIGHTS
	  	 PAGE 4

			
	 4.
	  	 LICENSE
	  	 PAGE 5

			
	 5.
	  	 PAYMENTS AND REPORTS
	  	 PAGE 6

			
	 6
	  	 TERM AND TERMINATION
	  	 PAGE 9

			
	 7.
	  	 INFRINGEMENT BY THIRD PARTIES
	  	 PAGE 10

			
	 8.
	  	 ASSIGNMENT
	  	 PAGE 11

			
	 9.
	  	 PATENT MARKING
	  	 PAGE 11

			
	 10.
	  	 INDEMNIFICATION AND INSURANCE
	  	 PAGE 11

			
	 11.
	  	 USE OF NAME
	  	 PAGE 12

			
	 12.
	  	 CONFIDENTIAL INFORMATION
	  	 PAGE 12

			
	 13.
	  	 PATENTS AND INVENTIONS
	  	 PAGE 13

			
	 14.
	  	 EXPORT CONTROL
	  	 PAGE 15

			
	 15.
	  	 GENERAL
	  	 PAGE 15

			
		  	 SIGNATURES
	  	 PAGE 17

 [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
EXCLUSIVE PATENT LICENSE AGREEMENT 
 BETWEEN THE UNIVERSITY OF TEXAS SYSTEM 

AND 
 MIRAGEN THERAPEUTICS, INC.

  
 THIS EXCLUSIVE PATENT LICENSE AGREEMENT (“AGREEMENT”) is between the
Board of Regents (“BOARD”) of The University of Texas System (“SYSTEM”), an agency of the State of Texas, on behalf of The University of Texas Southwestern Medical Center at Dallas, whose address is 5323 Harry Hines Boulevard,
Dallas, Texas 75390-9094 (“UT SOUTHWESTERN”), a component institution of SYSTEM, and Miragen Therapeutics, Inc. (“LICENSEE”), a Delaware corporation having a principal place of business located at 1900 Ninth Street, Suite 200,
Boulder, Colorado 80302. 
 RECITALS 

A.        BOARD owns certain PATENT RIGHTS (as defined below) and TECHNOLOGY RIGHTS (as defined below) related to
LICENSED SUBJECT MATTER (as defined below), which were developed at UT SOUTHWESTERN. 
 B.        BOARD desires to
have the LICENSED SUBJECT MATTER developed and used for the benefit of LICENSEE, INVENTOR (as defined below), UT SOUTHWESTERN, BOARD, and the public as outlined in BOARD’S Intellectual Property Policy. 

C.        LICENSEE wishes to obtain a license from BOARD to practice LICENSED SUBJECT MATTER. 

D.        LICENSEE intends to sponsor research relating to LICENSED SUBJECT MATTER at UT SOUTHWESTERN
to further develop LICENSED SUBJECT MATTER and to identify related technologies and the parties will execute a sponsored research agreement (“SRA”) concurrently with the execution of this AGREEMENT and the OTHER LICENSE AGREEMENTS (as
defined below). 
 E.        LICENSEE and BOARD intend to enter into 10 additional license
agreements concurrently with this AGREEMENT under which BOARD will license certain other patent rights and know-how rights owned or otherwise controlled by BOARD (collectively, the “OTHER LICENSE AGREEMENTS”). 

F.        LICENSEE and BOARD also intend to enter into a stock purchase agreement concurrently with
this AGREEMENT. Pursuant to such stock purchase agreement, LICENSEE will issue Series A common stock to BOARD in consideration of the rights granted to LICENSEE by BOARD hereunder and pursuant to the OTHER LICENSE AGREEMENTS and for other good
and valuable consideration. 
 NOW, THEREFORE, in consideration of the mutual covenants and premises herein contained, the parties agree as follows:

 1.    EFFECTIVE DATE 

This AGREEMENT is effective as of April 21, 2008 (the “EFFECTIVE DATE”). 

  
 Page 1 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 2.    DEFINITIONS 

As used in this AGREEMENT, the following terms have the meanings indicated: 

2.1        AFFILIATE means any entity directly or indirectly controlling, controlled by or under common control
with LICENSEE. For purposes of this Section 2.1, “control” means the direct or indirect ownership of 50% or more of the outstanding voting securities of any entity, or the right to receive 50% or more of the profits or earnings of
such entity, or the ability to control the policy decisions of an entity. 
 2.2        EMEA means the
European Medicines Agency. 
 2.3        FDA means United States Food and Drug Administration. 

2.4        INVENTOR(S) means Eric N. Olson and Eva Van Rooij. 

2.5        LICENSED PRODUCT means any product (including, but not limited to, clinical evaluation candidates,
diagnostic and pharmaceutical products) or service, the manufacture, use, practice or sale of which is covered by a VALID CLAIM. 

2.6        LICENSED SUBJECT MATTER means inventions, discoveries and processes claimed or covered by PATENT
RIGHTS and/or TECHNOLOGY RIGHTS. 
 2.7        LICENSEE PRODUCT means any LICENSED PRODUCT that is
identified, researched or developed by or on behalf of LICENSEE or as part of a bonafide collaboration between LICENSEE and a THIRD PARTY. 

2.8        MHLW means the Japanese Ministry of Health, Labor, and Welfare. 

2.9        NAKED SUBLICENSE means a sublicense pursuant to Section 4.4 below in which (a) the sublicensee
receives a sublicense of the LICENSED SUBJECT MATTER and (b) such sublicensee does not receive any rights to pursue any LICENSEE PRODUCTS. 

2.10        NET SALES means the gross revenues received by LICENSEE, AFFILIATE and/or any sublicensee pursuant
to Section 4.4 from the SALE of LICENSED PRODUCTS less: (a) cash, trade or quantity discounts, credits or allowances actually granted; (b) sales and/or use taxes actually paid; (c) import and/or export duties actually paid; (d) outbound
transportation (including insurance) prepaid or allowed; (e) amounts allowed, credited, refunded or rebated due to returns, rejections or recalls (not to exceed the original billing or invoice amount); (f) retroactive price reductions that are
actually allowed or granted; (g) payments or rebates allowed in connection with SALES of LICENSED PRODUCTS to any governmental or regulatory authority in respect of any state or federal Medicare, Medicaid or similar programs; and (h) amounts written
off as uncollectible bad debt specifically on the SALE of LICENSED PRODUCTS. 
 If LICENSED PRODUCTS are SOLD in the form of a combination product
containing one or more active ingredients which are themselves not LICENSED PRODUCTS (such combination, a “COMBINATION PRODUCT”), then NET SALES attributable to such COMBINATION PRODUCT shall be calculated on a country-by-country basis by
multiplying NET SALES of the COMBINATION PRODUCT (i.e., NET SALES calculated assuming that the entire COMBINATION PRODUCT is LICENSED PRODUCT) by the fraction A/(A+B) where: A is the LICENSEE’S (or its AFFILIATE’S or

  
 Page 2 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 
sublicensee’s, as applicable) average invoice price during the applicable reporting period for each LICENSED PRODUCT in such COMBINATION PRODUCT if SOLD separately in such country (or the
sum of such average invoice prices if more than one LICENSED PRODUCT is in such COMBINATION PRODUCT), and B is the sum of LICENSEE’S (or its AFFILIATES or sublicensees, as applicable) average invoice price during the applicable reporting period
for each active ingredient in such COMBINATION PRODUCT (other than the LICENSED PRODUCT) if sold separately in such country. If, on a country-by-country basis, LICENSEE (or its AFFILIATES or sublicensees, as applicable) does not separately sell
the active ingredients in such COMBINATION PRODUCT (other than the LICENSED PRODUCT) during the reporting period when it separately sells the LICENSED PRODUCT in such COMBINATION PRODUCT, then NET SALES attributable to such COMBINATION PRODUCT shall
be calculated by multiplying the NET SALES of such COMBINATION PRODUCT (i.e., NET SALES calculated assuming that the entire COMBINATION PRODUCT is a LICENSED PRODUCT) by the fraction A/C where: A is as set forth above and C is LICENSEE’S
(or its AFFILIATE’S or sublicensee’s, as applicable) average invoice price during the applicable reporting period for the COMBINATION PRODUCT in such country. If, on a country-by-country basis, LICENSEE (or its AFFILIATES or
sublicensees, as applicable) does not separately SELL each LICENSED PRODUCT during the reporting period when it sells such COMBINATION PRODUCT, then NET SALES attributable to such COMBINATION PRODUCT shall be calculated by multiplying the NET SALES
of such COMBINATION PRODUCT (i.e., NET SALES calculated assuming that the entire COMBINATION PRODUCT is a LICENSED PRODUCT) by the fraction D/(D+E) where: D is the fair market value of the portion of the COMBINATION PRODUCT that contains the
LICENSED PRODUCT and E is the fair market value of the portion of the COMBINATION PRODUCT containing the other active ingredient(s) included in such COMBINATION PRODUCT, as such fair market values are determined by mutual agreement of the
parties. In no event will the resulting calculated value of NET SALES of COMBINATION PRODUCTS be less than 50% of the value of NET SALES of LICENSED PRODUCTS had they been SOLD separately. 

2.11        PATENT RIGHTS means BOARD’S rights in (a) patents and/or patent applications listed in the
attached Exhibit 1; (b) all patent applications claiming priority to any of the foregoing, including divisionals, continuations and continuations-in-part of any of the foregoing; (c) all letters patent that issue on any of the foregoing; (d) all
reissues, additions, substitutions, reexaminations or extensions of any of the foregoing; and (e) all foreign counterparts of any of the foregoing. 

2.12        PHASE 1 CLINICAL STUDY means that portion of the drug development and review process which provides
for the initial introduction of an investigational new drug into humans that would satisfy the requirements specifically defined by the rules and regulations of the FDA under 21 § C.F.R. 312.21(a), or similar rules and regulations in other
countries or jurisdictions. 
 2.13        PHASE 2 CLINICAL STUDY means that portion of the drug development
and review process which provides for early controlled clinical studies conducted to obtain preliminary data on the effectiveness of an investigational new drug for a particular indication that would satisfy the requirements specifically defined by
the rules and regulations of the FDA under 21 § C.F.R. 312.21(b), or similar rules and regulations in other countries or jurisdictions. 

2.14        PHASE 3 CLINICAL STUDY means that portion of the drug development and review process in which
expanded clinical studies are conducted to gather the additional information about the effectiveness and safety that is needed to evaluate the overall benefit-risk relationship of an investigational new drug that would satisfy the requirements
specifically defined by the rules and regulations of the FDA under 21 § C.F.R. 312.21(c), or similar rules and regulations in other countries or jurisdictions. 

  
 Page 3 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 2.15        SALE, SELL or SOLD means the transfer or disposition
of a LICENSED PRODUCT for value excluding any transfer or disposition to an AFFILIATE or sublicensee unless such AFFILIATE or sublicense is an end user; provided, however, that transfers or dispositions of LICENSED PRODUCTS at or below cost for use
in research, development, charitable or clinical trial purposes shall not be considered a SALE. 

2.16        TECHNOLOGY RIGHTS means BOARD’S rights in technical information, know-how, processes,
procedures, compositions, devices, methods, formulas, protocols and techniques developed: (i) by Eric N. Olson at UT SOUTHWESTERN before the EFFECTIVE DATE; (ii) in Eric N. Olson’s laboratory at UT SOUTHWESTERN before the EFFECTIVE DATE; or
(iii) during the term of and directly resulting from the research conducted under the SRA; in each case, which are not covered by PATENT RIGHTS but which are necessary for practicing the PATENT RIGHTS. 

2.17        THIRD PARTY means any person or entity other than BOARD, LICENSEE or an AFFILIATE. 

2.18        VALID CLAIM means any claim of: (a) a patent application included in PATENT RIGHTS that has
been neither abandoned nor pending for more than [*] years; or (b) an issued, unexpired patent included in PATENT RIGHTS that has not been withdrawn, canceled or disclaimed or held invalid by a court or governmental authority of competent
jurisdiction in an unappealed or unappealable decision no longer subject to review. 
 3.    WARRANTY: SUPERIOR-RIGHTS

 3.1        Except for the rights, if any, of the government of the United States of America
(“GOVERNMENT”), as set forth below, BOARD represents and warrants (i) that it is the sole owner of the entire right, title, and interest in and to PATENT RIGHTS and TECHNOLOGY RIGHTS, (ii) that it has the sole right to grant licenses
thereunder, and (iii) that it has not knowingly granted licenses under the LICENSED SUBJECT MATTER to any other person or entity that would conflict with, or otherwise restrict BOARD’S ability to grant the license rights granted to LICENSEE
under this AGREEMENT. 
 3.2        LICENSEE understands that the LICENSED SUBJECT MATTER may have been developed
under a funding agreement with the GOVERNMENT and, if so, that the GOVERNMENT may have certain rights relative thereto. This AGREEMENT is explicitly made subject to the GOVERNMENT’S rights under any agreement and any applicable law or
regulation. If there is a conflict between any agreement, applicable law or regulation and this AGREEMENT, the terms of the GOVERNMENT agreement, applicable law or regulation shall prevail. LICENSEE agrees that LICENSED PRODUCTS used or
SOLD in the United States to the extent covered by LICENSED SUBJECT MATTER developed under a funding agreement with the GOVERNMENT will be manufactured substantially in the United States, unless a written waiver is obtained in advance from the
GOVERNMENT. 
 3.3        LICENSEE understands and acknowledges that BOARD, by this AGREEMENT, makes no
representation as to the operability or fitness for any use, safety, efficacy, approvability by regulatory authorities, time and cost of development, patentability, and/or breadth of the LICENSED SUBJECT MATTER. BOARD, by this AGREEMENT, also
makes no representation as to whether there are any patents now held, or which will be held, by others or by BOARD which may be dominant or subordinate to PATENT RIGHTS, nor does BOARD make any representation that the inventions contained in PATENT
RIGHTS do not infringe any other patents now held or that will be held by others or by BOARD. 

  
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[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 3.4        LICENSEE, by execution hereof, acknowledges, covenants and
agrees that it has not been induced in any way by BOARD, SYSTEM, UT SOUTHWESTERN or its employees to enter into this AGREEMENT. 

4.    LICENSE 

4.1        BOARD hereby grants to LICENSEE: (i) a worldwide, royalty-bearing, exclusive license under PATENT
RIGHTS to discover, research, develop, make, have made, use, offer for SALE, SELL and/or import LICENSED PRODUCTS; and (ii) a worldwide, non-exclusive license under TECHNOLOGY RIGHTS to discover, research, develop, make, have made, use, offer for
SALE, SELL and/or import LICENSED PRODUCTS. The licenses granted under this Section 4.1 are subject to the payment by LICENSEE to BOARD of all consideration as provided herein, and are further subject to the rights retained by BOARD to: 

a.        publish the general scientific findings from research related to LICENSED SUBJECT MATTER
subject to the terms of Article 12, Confidential Information of this AGREEMENT and Article 7 of the SRA; 

b.        use LICENSED SUBJECT MATTER for SYSTEM research, teaching and other educationally-related,
non-commercial purposes; and 
 c.        transfer LICENSED SUBJECT MATTER to other non-profit
academic or research institutions for non-commercial research use only, which research use shall exclude research for which a commercial entity receives a license or an option to resulting intellectual property. 

4.2        Except for the rights retained by BOARD as set forth in Section 4.1, BOARD hereby agrees that it shall not
grant to any THIRD PARTY any license under the TECHNOLOGY RIGHTS to discover, research, develop, make, have made, use, offer for SALE, SELL and/or import LICENSED PRODUCTS. 

4.3        LICENSEE may extend the license granted herein to any AFFILIATE if the AFFILIATE consents in writing to be
bound by this AGREEMENT to the same extent as LICENSEE. LICENSEE must deliver to BOARD a true and accurate copy of such written agreement, and any modification or termination thereof, within 30 days after execution, modification or termination;
provided however that such copy may be redacted to delete information that is not relevant to determining LICENSEE’S compliance with its obligations under this AGREEMENT. 

4.4        LICENSEE may grant sublicenses consistent with this AGREEMENT to THIRD PARTIES if LICENSEE is responsible
to BOARD for the activities of its sublicensees relevant to this AGREEMENT as if the activities were carried out by LICENSEE, including the payment of royalties owed to BOARD whether or not such royalties are paid to LICENSEE by a
sublicensee. LICENSEE must furnish to BOARD a true and correct copy of each sublicense granted by LICENSEE, and any modification or termination thereof, within 30 days after execution, modification, or termination; provided however that such
copy may be redacted to delete information that not relevant to determining LICENSEE’S compliance with its obligations under this AGREEMENT. When this AGREEMENT is terminated, BOARD and UT SOUTHWESTERN agree to accept as successors to
LICENSEE existing sublicensees in good standing at the date of termination, provided that the sublicensees consent in writing to be bound by all applicable terms and conditions of this AGREEMENT. 

4.5        BOARD shall use its best efforts to disclose to LICENSEE (a) all TECHNOLOGY RIGHTS that are in existence as
of the EFFECTIVE DATE within thirty (30) days after the EFFECTIVE DATE and (b) all other TECHNOLOGY RIGHTS within a reasonable time after their creation or development. 

  
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[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 4.6        In the event that either party identifies other patents and/or
patent applications that such party reasonably believes are necessary to practice the inventions licensed under this AGREEMENT and such patents and/or patent applications (a) disclose or claim inventions that were developed at UT SOUTHWESTERN prior
to the EFFECTIVE DATE, (b) were assigned, or should have been assigned, to BOARD, and (c) are not (i) exclusively licensed to a THIRD PARTY, (ii) co-exclusively licensed to one or more THIRD PARTIES with no additional co-exclusive licenses
available, (iii) the subject of an option for a THIRD PARTY to obtain an exclusive license, or (iv) the subject of an option for one or more THIRD PARTIES to obtain a co-exclusive license with no additional options for co-exclusive licenses
available, then the party making such identification shall promptly notify the other party and upon LICENSEE’S request, BOARD shall negotiate in good faith with LICENSEE to grant a license to LICENSEE under such patents and/or patent
applications on commercially reasonable terms. 
 5.    PAYMENTS AND REPORTS 

5.1        In consideration of rights granted by BOARD to LICENSEE under this AGREEMENT, LICENSEE will pay BOARD the
following: 
 a.        a one time, non-refundable license documentation fee in the amount of
$10,000, due and payable within [*] days of the earlier of: (i) [*] or (ii) [*]; 

b.        an annual license maintenance fee in the amount of $10,000, due and payable on each
anniversary of the EFFECTIVE DATE beginning on the first anniversary and creditable against royalties, milestone fees or sublicense fees due under Sections 5.1c, 5.1d or 5.1f for that year; 

c.        a running royalty equal to [*]% of NET SALES. LICENSEE’S obligation to pay
royalties under this Section 5.1c will commence upon the first commercial sale of the applicable LICENSED PRODUCT and will expire, on a LICENSED PRODUCT-by-LICENSED PRODUCT and country-by-country basis upon the date of expiration of the last to
expire VALID CLAIM that covers such LICENSED PRODUCT in such country. If LICENSEE, its AFFILIATES or sublicensees are required to obtain a license or other similar right under any intellectual property rights of a THIRD PARTY that claim or
cover the composition, method of making, or method of using a LICENSED PRODUCT, LICENSEE may reduce the royalty payment owed to BOARD on the same LICENSED PRODUCT under this Section 5.1c by an amount equal to [*], but in no event will such reduction
result in a royalty of less than [*]% of NET SALES; provided, however that if LICENSEE has adjusted NET SALES for a COMBINATION PRODUCT as set forth in Paragraph 2.10, then the royalties creditable under this Section 5.1c are limited to an amount
such that the royalty payable to BOARD is no less than [*]% of NET SALES unadjusted for a COMBINATION PRODUCT. For clarity, royalties payable under this Section 5.1c are noncumulative and will be payable with respect to a particular LICENSED
PRODUCT only once, even if such LICENSED PRODUCT is covered or claimed by multiple VALID CLAIMS within the PATENT RIGHTS; 

d.        one time milestone fees according to the table below: 

 

					
	Milestone Event	 	    Milestone Fee	 	    Due and Payable
	[*] for a LICENSEE PRODUCT	 	[*]	 	Within [*] days of Milestone Event
	[*] for a LICENSEE PRODUCT	 	[*]	 	Within [*] days of Milestone Event
	[*] for a LICENSEE PRODUCT	 	[*]	 	Within [*] days of

  
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[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

					
	 	 	 	 	Milestone Event
	First FDA approval of a new drug application for a LICENSEE PRODUCT	 	$2,000,000	 	Within [*] days of Milestone Event
	First [*] regulatory approval for a LICENSEE PRODUCT	 	$500,000	 	Within [*] days of Milestone Event
	First [*] regulatory approval for a LICENSEE PRODUCT	 	$500,000	 	Within [*] days of Milestone Event

 For avoidance of doubt, each milestone payment is payable only once regardless of the number of time the
milestone event occurs and regardless of the number of LICENSEE PRODUCTS developed. For the purpose of this Section 5.1d, “[*]” means [*] by or on behalf of LICENSEE or its AFFILIATE(S) or sublicensee(s); 

e.        an amount equal to the sum of (i) $[*] (to reimburse UT SOUTHWESTERN for all out-of-pocket
expenses paid by UT SOUTHWESTERN prior to the EFFECTIVE DATE in filing, prosecuting, enforcing and maintaining PATENT RIGHTS) and (ii) those additional out-of-pocket expenses incurred on UT SOUTHWESTERN’S behalf prior to the EFFECTIVE DATE in
filing, prosecuting, enforcing and maintaining PATENT RIGHTS but not paid by UT SOUTHWESTERN prior to the EFFECTIVE DATE, provided that such additional out-of-pocket expenses shall not exceed $[*]. Payment of such amount will be made in two
equal installments. The first installment is due and payable [*], and the second installment is due and payable [*]; and 

f.        a sublicense fee of [*]% of all consideration that is received by LICENSEE from a
sublicensee in consideration for the grant of a NAKED SUBLICENSE except for any consideration paid to LICENSEE by a sublicensee: (i) that constitute royalties or other payments based on SALES of LICENSED PRODUCTS, (ii) with respect to research,
development and sales and marketing or promotional activities performed by or on behalf of LICENSEE, (iii) that constitute reimbursement of patent prosecution or enforcement expenses for PATENT RIGHTS, (iv) that constitute private or non-publicly
traded equity securities of a THIRD PARTY, (v) in exchange for equity securities of LICENSEE, (vi) as loans, credit lines, or other amounts subject to repayment, or (vii) with respect to the supply of goods and/or services by or on behalf of
LICENSEE (collectively, the “SUBLICENSEE REVENUES”). Such sublicense fee will be payable within [*] days of LICENSEE’S receipt of any such SUBLICENSEE REVENUES. For purposes of this Section 5.1f, the value of any equity
securities will be calculated as the average market value of the class of stock involved for 5 consecutive days preceding the transfer to LICENSEE. In cases where the applicable sublicense agreement calls for payment to LICENSEE of a premium
over the market value of LICENSEE’S equity securities, BOARD will also share [*]% of the premium paid to LICENSEE. If LICENSEE is required to pay BOARD a payment under this Section 5.1f and a sublicense fee payment is also due with respect
to the same NAKED SUBLICENSE under the terms of one or more RELATED LICENSE AGREEMENTS (as defined in Section 5.2 below), then LICENSEE may credit, against any payments due hereunder, the full amount of all sublicense fee payments made under such
RELATED LICENSE AGREEMENT(S). Notwithstanding anything to the contrary set forth herein, if LICENSEE grants a NAKED SUBLICENSE to a sublicensee where the underlying intellectual property licensed to the sublicensee is the LICENSED SUBJECT
MATTER and other intellectual property, then LICENSEE shall only be required to pay BOARD a sublicensee fee under this subsection (f) based on the consideration received by LICENSEE that is allocable solely to the grant of the NAKED SUBLICENSE under
the LICENSED SUBJECT MATTER. 

  
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[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 5.2        If LICENSEE is required to pay BOARD a royalty under Section
5.1c and a royalty payment is also due with respect to the same LICENSED PRODUCT under the terms of another license agreement between LICENSEE and BOARD and such other license agreement covers intellectual property: (a) developed at UT
SOUTHWESTERN; (b) naming Eric Olson or a member of his laboratory as an inventor or a person who was a member of his laboratory at the time the applicable invention was developed (for clarity and the avoidance of doubt, a member of Eric Olson’s
laboratory does not include other independent faculty members in his department or center, or their subordinates); and (c) pertaining to microRNA in the areas of cardiovascular and muscle disorders and diseases (such license agreement a
“RELATED LICENSE AGREEMENT”), then the royalty payment due BOARD for such LICENSED PRODUCT under such RELATED LICENSE AGREEMENT shall be creditable against the royalty payment due BOARD under Section 5.1c above, up to a credit of
[*]. In no event however will the amount creditable under this Section 5.2 reduce the royalty payment due BOARD to less than [*]% of NET SALES. 

5.3        Amounts that are not paid when due under Article 5 will accrue interest from the due date until paid, at a
rate equal to [*], or the maximum allowed by law, if less; provided however that BOARD shall notify LICENSEE of payment obligations and LICENSEE shall have at least 10 business days to pay any amounts due before interest is assessed. 

5.4        During the term of this AGREEMENT and for [*] thereafter, LICENSEE agrees to keep complete and accurate
records of its and its sublicensees’ SALES and NET SALES under the licenses granted in this AGREEMENT in sufficient detail to enable the royalties payable hereunder to be determined. LICENSEE agrees to permit an independent accounting firm
selected by BOARD and reasonably acceptable to LICENSEE, at BOARD’S expense and with 14 days prior written notice to LICENSEE, to periodically examine LICENSEE’S books, ledgers, and records during LICENSEE’S regular business hours no
more than [*] every calendar year, solely for the purpose of and to the extent necessary to verify any report required under this AGREEMENT. If the amounts due to BOARD are determined by such independent accounting firm to have been underpaid
by an amount equal to or greater than [*]% of the total amount payable, LICENSEE will pay the cost of the examination and all overdue amounts with accrued interest at the prime rate in effect on the date such payment is due (as quoted in the Wall
Street Journal (“WSJ”)) plus [*], unless such interest rate is greater than the highest allowable rate by law, in which case the interest rate shall be the highest allowable rate by law, and no interest payment shall be owed pursuant to
Section 5.3 with respect thereto. 
 5.5        Within 30 days after March 31, June 30, September 30, and
December 31 of each year of the term of this AGREEMENT, beginning immediately after the first commercial SALE, LICENSEE shall deliver to BOARD a true and accurate written report, even if no payments are due BOARD, giving the particulars of the
business conducted by LICENSEE and its sublicensee(s), if any exist, during the preceding 3 calendar months under this AGREEMENT as are pertinent to calculating payments hereunder. Such reports will be on a per-country and per-LICENSED PRODUCT
basis and presented substantially in the form as shown in Exhibit 2. Simultaneously with the delivery of each report, LICENSEE must pay to BOARD the amount due and unpaid, if any, for the period covered by such report. 

5.6        Once per calendar year, on or before each anniversary of the EFFECTIVE DATE, irrespective of having a first
SALE or offer for SALE, LICENSEE shall deliver to BOARD a written progress report as to LICENSEE’S (and any sublicensee’s) efforts and accomplishments during the preceding year in diligently commercializing LICENSED SUBJECT MATTER and
LICENSEE’S (and sublicensee’s) commercialization plans for the upcoming year. 
 5.7        All amounts
payable hereunder by LICENSEE shall be paid in United States dollars without deductions for taxes, assessments, fees, or charges of any kind. Royalties accruing on SALES in 

  
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[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 
countries other than the United States shall be paid in United States dollars in amounts based on the rate of exchange as quoted in the WSJ as of the last business day of the reporting
period. If the WSJ does not publish any such rate, a comparable rate publication will be agreed upon from time to time by the parties, and with respect to each country for which such rate is not published by the WSJ or in a comparable
publication, the parties will use the prevailing rate for bank cable transfers for such date, as quoted by leading United States banks in New York City dealing in the foreign exchange market.

5.8        All payments must be payable to UT SOUTHWESTERN and sent to the address listed in Section 15.2. 

6.    TERM AND TERMINATION 

6.1        The term of this AGREEMENT shall commence upon the EFFECTIVE DATE and, unless earlier terminated in
accordance with this Article 6, shall continue in full force and effect, on a country-by-country and LICENSED PRODUCT-by-LICENSED PRODUCT basis, until the date on which LICENSEE’S obligations to pay royalties on NET SALES of the applicable
LICENSED PRODUCT in the applicable country expires according to the provisions of Section 5.1c. Upon expiration of such royalty payment obligation, LICENSEE shall have a fully paid up license to practice TECHNOLOGY RIGHTS in such country. 

6.2        At any time [*] after [*], BOARD shall have the right to terminate this license if LICENSEE, within [*]
days after receiving written notice from UT SOUTHWESTERN of the intended termination, fails to provide written evidence reasonably satisfactory to UT SOUTHWESTERN that LICENSEE, its AFFILIATE(S) or sublicensee(s) has: 

a.        SALES; or 

b.        an effective, ongoing and active research, development, manufacturing, marketing or sales
program as appropriate, directed toward obtaining regulatory approval, and/or production and/or SALES in accordance with LICENSEE’S business, legal, medical and scientific judgment and LICENSEE’S normal practices and procedures for
products having similar technical and commercial potential. 
 6.3        This AGREEMENT will earlier terminate:

 a.        automatically if LICENSEE becomes bankrupt and/or if the business of LICENSEE is placed
in the hands of a receiver, assignee, or trustee, whether by voluntary act of LICENSEE or otherwise; or 

b.        upon [*] days written notice from BOARD if LICENSEE becomes insolvent unless, before the end
of the [*] day period, LICENSEE provides BOARD with evidence of its solvency; or 
 c.        upon
[*] days written notice from BOARD if LICENSEE breaches or defaults on its obligation to make payments (if any are due) or reports, in accordance with the terms of Article 5 hereunder, unless, before the end of the [*] day period, LICENSEE has cured
the breach or default and so notifies BOARD, stating the manner of the cure; or 
 d.        upon
[*] days written notice if either party materially breaches or defaults on any other obligation under this AGREEMENT, unless, before the end of the [*] day period, the breaching 

  
 Page 9 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 
or defaulting party has cured the breach or default and so notifies the other party, stating the manner of the cure; or 

e.        at any time by mutual written agreement of LICENSEE, BOARD and UT SOUTHWESTERN and subject
to any terms herein which survive termination; or 
 f.        at any time by LICENSEE upon [*] days
written notice and subject to any terms herein which survive termination; or 
 g.        under the
provisions of Section 6.2 if invoked. 
 6.4        If this AGREEMENT is terminated for any cause: 

a.        nothing herein will be construed to release either party of any obligation that accrued
prior to the effective date of the termination; and 
 b.        after the effective date of the
termination, LICENSEE (and its AFFILIATES) will provide BOARD with a written inventory of all LICENSED PRODUCTS in process of manufacture, in use or in stock. LICENSEE (and its AFFILIATES) may SELL any such LICENSED PRODUCTS within the [*] day
period following such termination if it pays earned royalties thereon, and any other amount due pursuant to the terms of Article 5; and 

c.        Articles 10 (Indemnification And Insurance), 11 (Use Of Name), 12 (Confidential Information)
and 15 (General) and this Section 6.4 shall survive termination of this AGREEMENT. 
 7.    INFRINGEMENT BY THIRD
PARTIES 
 7.1        LICENSEE and BOARD shall each promptly provide the other party written notice of any
alleged infringement of the PATENT RIGHTS. 
 7.2        LICENSEE shall have the first right (but not the
obligation), at its expense, to enforce PATENT RIGHTS against infringement by third parties and is entitled to retain recovery from such enforcement. After reimbursement of LICENSEE’S reasonable attorneys’ fees and court costs in
connection with such enforcement, the balance of any recovery for damages and/or a reasonable royalty in lieu thereof will be considered NET SALES and subject to royalty payments pursuant to Section 5.1c and applied in the calendar quarter in which
the recovery is obtained. If LICENSEE does not file suit against a substantial infringer of PATENT RIGHTS within [*] of knowledge thereof and has not entered into good faith negotiations to sublicense the applicable PATENT RIGHTS to such
infringer, and such infringement has not otherwise ceased, then BOARD (a) may enforce PATENT RIGHTS on behalf of itself and LICENSEE and (b) will have the right to (i) retain all recoveries from such enforcement and/or (ii) reduce the exclusive
license granted to LICENSEE hereunder to a non-exclusive license with respect to the relevant PATENT RIGHTS (without affecting LICENSEE’S other rights hereunder, including without limitation the right to grant sublicenses) and to grant a
non-exclusive, non-transferable, non-sublicensable license under the applicable PATENT RIGHTS solely to such infringer and solely with respect to the infringing product or method. 

7.3        In any infringement suit or dispute, the parties agree to cooperate fully with each other. At the
request and expense of the party bringing suit, the other party will permit access to all relevant personnel, records, papers, information, samples, specimens, etc., during regular business hours and with reasonable advance written notice. 

  
 Page 10 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 8.    ASSIGNMENT 

LICENSEE may not assign this AGREEMENT without the prior written consent of BOARD, which will not be unreasonably withheld, except in connection with the sale
of all or substantially all of LICENSEE’S assets, as it relates to this AGREEMENT, to a THIRD PARTY with written notice to UT SOUTHWESTERN or assignment to an AFFILIATE with written notice to UT SOUTHWESTERN. 

9.    PATENT MARKING 

LICENSEE must permanently and legibly mark all products, packaging and documentation manufactured or SOLD by it in the United States under this AGREEMENT with
such patent notice as may be permitted or required under Title 35, United States Code. 
 10.    INDEMNIFICATION AND
INSURANCE 
 10.1        LICENSEE agrees to hold harmless and indemnify BOARD, INVENTOR, SYSTEM, UT
SOUTHWESTERN, its Regents, officers, employees and agents from and against any THIRD PARTY claims, demands, or causes of action whatsoever (including, without limitation, those arising on account of any injury or death of persons or damage to
property) caused by, or arising out of, or resulting from, the exercise or practice of the license granted hereunder by LICENSEE, its AFFILIATES or their officers, employees, agents or representatives, except for such claims, demands or causes of
action whatsoever that result from the negligence or willful misconduct of BOARD, INVENTOR, SYSTEM, UT SOUTHWESTERN, its Regents, officers, employees or agents. 

10.2        In no event will any party to this AGREEMENT be liable for any indirect, special, consequential or
punitive damages (including, without limitation, damages for loss of profits or expected savings or other economic losses, or for injury to persons or property) arising out of or in connection with this AGREEMENT or its subject matter, regardless of
whether such party knows or should know of the possibility of such damages; provided however that this Section 10.2 shall not be construed to limit LICENSEE’S indemnification obligations under Section 10.1. 

10.3        Beginning at the time when any LICENSED PRODUCT is being distributed or SOLD (including for the purpose of
obtaining regulatory approvals) by LICENSEE or by a sublicensee, LICENSEE will, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than [*] per incident and [*] annual aggregate, and
LICENSEE will use reasonable efforts to have the BOARD, SYSTEM and UT SOUTHWESTERN named as additional insureds. Such commercial general liability insurance will provide (i) product liability coverage; (ii) broad form contractual liability
coverage for LICENSEE’S indemnification under this AGREEMENT; and (iii) coverage for litigation costs. The minimum amounts of insurance coverage required will not be construed to create a limit of LICENSEE’S liability with respect to
its indemnification under this AGREEMENT. 
 10.4        LICENSEE will provide BOARD with written evidence of such
insurance upon BOARD’S request. LICENSEE will use reasonable efforts to provide BOARD with written notice of at least 15 days prior to the cancellation, non-renewal or material change in such insurance. 

10.5        LICENSEE will maintain such commercial general liability insurance beyond the expiration or termination of
this AGREEMENT during (i) the period that any LICENSED PRODUCT developed pursuant to this AGREEMENT is being commercially distributed or SOLD by LICENSEE or by a sublicensee or agent of LICENSEE; and (ii) the [*]-year period immediately after such
period. 

  
 Page 11 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 11.    USE OF NAME 

LICENSEE may not use the name of UT SOUTHWESTERN, SYSTEM, INVENTOR or BOARD without express written consent from UT SOUTHWESTERN, SYSTEM, INVENTOR and/or
BOARD, as applicable, except as required by governmental law, rule or regulation. Consent should be requested in writing at least 5 business days in advance and sent to: 

Leah A. Hurley 

Vice President for Legal Affairs 

The University of Texas Southwestern Medical Center at Dallas 

5323 Harry Hines Blvd. 

Dallas, TX 75390-9008 

Phone: 214-648-7986 

Fax: 214-648-8805 

Email: Leah.Hurley@UTSouthwestern.edu 

12.    CONFIDENTIAL INFORMATION 

12.1        The parties each agree that all information contained in documents identified as
“confidential” and forwarded or otherwise disclosed to one by the other for the purposes of this AGREEMENT (the “Confidential Information”) (i) are to be received in strict confidence, (ii) are to be used only for the purposes of
this AGREEMENT, and (iii) are not to be disclosed by the recipient party, its agents or employees without the prior written consent of the other party, except to the extent that the recipient party can establish competent written evidence that such
Confidential Information: 
 a.    was in the public domain at the time of disclosure; 

b.    later became part of the public domain through no act or omission of the recipient party, its
employees, agents, successors or assigns; 
 c.    was lawfully disclosed to the recipient party by a
THIRD PARTY having the right to disclose it; 
 d.    was already known by the recipient party at the
time of disclosure; or 
 e.    was independently developed by the recipient party. 

In addition, notwithstanding the foregoing, each party may disclose the other party’s Confidential Information to the extent required by
law or regulation to be disclosed; provided however, that the party required to disclose such Confidential Information shall give reasonable advance written notice to the other party of such disclosure requirement and shall fully cooperate
(at the other party’s request and expense) with the other party’s efforts to secure, (i) a protective order requiring that the Confidential Information so disclosed by used only for the purposes for which the order was issued or the law or
regulation required or (ii) confidential treatment of such Confidential Information required to be disclosed. In addition, notwithstanding anything to the contrary set forth in this Article 12, LICENSEE may disclose BOARD’S Confidential
Information to its AFFILIATES and sublicensees provided that such party agrees to confidentiality provisions at least as restrictive as those contained in this Article 12. 

12.2        Confidential Information shall not be deemed to be available to the public or to be in the
recipient’s possession merely because it: 

  
 Page 12 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 a.    includes information that falls within an area of
general knowledge available to the public or to the recipient (i.e., it does not include the specific information provided by the other party); or 

b.    can be reconstructed in hindsight from a combination of information from multiple sources that are
available to the public or to the recipient, if not one of those sources actually taught or suggested the entire combination, together with its meaning and importance. 

12.3        Each party’s obligation of confidence hereunder shall be fulfilled by using at least
the same degree of care with the other party’s confidential information as it uses to protect its own confidential information but in no event less than reasonable care. These obligations shall exist while this AGREEMENT is in force and
shall continue for a period of [*] years thereafter. 
 13.    PATENTS AND INVENTIONS 

13.1        LICENSEE, in its discretion, shall assume responsibility for and direct the filing, prosecution, and
maintenance of the patent applications and patents within the PATENT RIGHTS (“PATENT RESPONSIBILITY”) using the patent attorney and/or law firm of its choice; provided that such patent attorney and/or law firm (“COUNSEL”) has
entered into an outside counsel contract with UT SOUTHWESTERN. 
 13.2        If LICENSEE notifies BOARD in writing
that LICENSEE is assuming PATENT RESPONSIBILITY then the following provisions shall apply: 

a.        LICENSEE shall be responsible for payment of all fees and costs arising from filing,
prosecution, and maintenance of the patent applications and patents within the PATENT RIGHTS and will directly pay COUNSEL for all such fees and costs; 

b.        LICENSEE will provide BOARD, in a timely manner, copies of any and all patent applications
included in PATENT RIGHTS, as well as copies of any patent prosecution related documents received or filed during the prosecution thereof including, but not limited to, office actions and responses. BOARD shall have the right to review and comment
upon patent applications, responses to office actions and other substantive patent documents prior to filing and the right to have such documents revised prior to filing to reflect such comments provided such comments do not conflict with
recommendation of COUNSEL; and 
 c.        if LICENSEE does not intend to file, prosecute or
maintain any patent application or patent within the PATENT RIGHTS in a particular country, LICENSEE shall notify BOARD in writing at least 30 days before the time limit, if any, set forth in the applicable laws and regulations for the taking of an
action required or permitted with respect to the filing, prosecution, or maintenance of the applicable patent application or patent, then BOARD may elect, at its sole discretion and expense, to undertake the preparation, filing, prosecution, or
maintenance of such patent application or patent in such country at its own expense, and such patent application or patent shall no longer be included in the PATENT RIGHTS licensed to LICENSEE under this AGREEMENT. 

13.3        Until such time as LICENSEE notifies BOARD that LICENSEE is assuming PATENT RESPONSIBILITY as provided in
Section 13.2 or if LICENSEE notifies BOARD in writing that it wishes BOARD to assume PATENT RESPONSIBILITY, the following provisions shall apply: 

a.        BOARD will work closely with LICENSEE to develop a suitable strategy for the prosecution and
maintenance of all PATENT RIGHTS. BOARD will confer with LICENSEE 

  
 Page 13 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 
regarding the choice of patent counsel and will identify to LICENSEE the patent counsel selected by BOARD to prosecute the PATENT RIGHTS; provided, that such patent counsel shall be reasonably
acceptable to LICENSEE. 
 b.        it is intended that LICENSEE will interact directly with the
selected patent counsel in all phases of patent prosecution, such as preparation, office action responses, filing strategies for continuation or divisional applications, and other related activities. LICENSEE will receive, in a timely manner, copies
of all documents received, prepared or filed during the prosecution of the patents and patent applications within the PATENT RIGHTS by the selected patent counsel. LICENSEE shall have the right to review and comment on all patent applications,
responses to office actions and other substantive patent documents prior to filing and the right to have such documents revised prior to filing to reflect such comments, except to the extent impracticable. 

c.        BOARD will consult with LICENSEE as provided herein, but shall maintain final authority in
all decisions regarding the prosecution and maintenance of the PATENT RIGHTS. In its discretion, BOARD may delegate specific authority to LICENSEE with respect to the prosecution and maintenance of the PATENT RIGHTS; provided, that (1) BOARD is
provided with copies of patent applications and related documents as set forth in Section 13.2b, (2) BOARD may revoke the delegation at any time, and (3) counsel that is prosecuting the patent remains counsel to the BOARD unless BOARD agrees
otherwise in writing. 
 d.        if LICENSEE requests in writing, that additional foreign and/or
domestic patent applications covering LICENSED SUBJECT MATTER be filed, then BOARD will prepare and file the appropriate application(s) in the United States and foreign countries. 

e.        LICENSEE will reimburse UT SOUTHWESTERN for costs actually incurred by UT SOUTHWESTERN in
connection with filing, prosecuting and maintaining PATENT RIGHTS provided such costs have not been reimbursed pursuant to Section 5.1e. UT SOUTHWESTERN will invoice LICENSEE on a quarterly basis for patent expenses paid by UT
SOUTHWESTERN. The invoiced amounts will be due and payable by LICENSEE within 30 days of receipt. 

f.        if BOARD elects not to file, prosecute, or maintain a patent application or patent included
in the PATENT RIGHTS, it shall so notify LICENSEE at least 30 days in advance of any such filing or payment deadline and LICENSEE may elect to assume responsibility for such patent or patent application, in which event, BOARD shall assign to
LICENSEE its right, title in and to such patent application or patent and BOARD shall have no further right, title or interest therein. 

13.4      Each party shall fully cooperate with the other party to execute all lawful papers and instruments, make all rightful
oaths and declarations, and provide original patent documents to the party prosecuting or maintaining such patents and patent applications as may be necessary in the preparation and prosecution of all such patents and other applications and
protections referred to in this Article 13. The Rules and Regulations of the BOARD, Series 90000, Intellectual Property (http://www.utsystem.edu/bor/rules/RRRas1.pdf) sets forth the BOARD’S policy regarding intellectual
property. All individuals subject to this policy (persons employed by SYSTEM or any of its institutions including, but not limited to, full and part-time faculty and staff and visiting faculty members and researchers, and anyone using the
facilities or resources of the SYSTEM or any of its institutions, including, but not limited to, students enrolled at a SYSTEM institution whether undergraduate or master’s and doctoral degrees, and postdoctoral and predoctoral fellows) must
assign their rights in intellectual property to the BOARD in accordance with the provisions of the policy. 

  
 Page 14 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 14.    EXPORT CONTROL 

LICENSEE acknowledges that it is subject to and agrees to abide by the United States laws and regulations (including the Export Administration Act of 1979 and
Arms Export Control Act) controlling the export of technical data, computer software, laboratory prototypes, biological material and other commodities. The transfer of such items may require a license from the cognizant agency of the U.S.
Government or written assurances by LICENSEE that it shall not export such items to certain foreign countries without prior approval of such agency. BOARD neither represents that a license is or is not required or that, if required, it shall be
issued. 
 15.    GENERAL 

15.1        This AGREEMENT constitutes the entire and only agreement between the parties for LICENSED SUBJECT MATTER
and all other prior negotiations, representations, agreements, and understandings are hereby superseded. For clarity and the avoidance of doubt, the SRA and any OTHER LICENSE AGREEMENTS entered into by the parties shall remain in full force and
effect in accordance with their terms. No agreements altering or supplementing these terms may be made except by a written document signed by both parties. 

15.2        Any payments required by this AGREEMENT must be payable to UT SOUTHWESTERN and sent to: 

UT Southwestern Medical Center at Dallas 

Office for Technology Development 

5323 Harry Hines Boulevard 
 Mail
Code 9094 
 Dallas, Texas 75390-9094 

ATTENTION: Director for Technology Transfer 

15.3        Any notice required by this AGREEMENT must be given by email or facsimile transmission confirmed by
personal delivery (including delivery by reputable messenger services such as Federal Express) or by prepaid, first class, certified mail, return receipt requested, addressed in the case of BOARD and UT SOUTHWESTERN to: 

UT Southwestern Medical Center at Dallas 

Office for Technology Development 

5323 Harry Hines Boulevard 
 Mail
Code 9094 
 Dallas, Texas 75390-9094 

ATTENTION: Director for Technology Transfer 

Email: TechnologyDevelopment@UTSouthwestern.edu 

Phone: (214) 648-1888 

Fax: (214) 648-1889 
 or in the case of
LICENSEE to: 
 Miragen Therapeutics, Inc. 

1900 Ninth Street 

Suite 200 

Boulder, CO 80302 

ATTENTION: William S. Marshall, Ph.D., Chief Executive Officer 

  
 Page 15 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 Email: william.marshall@miragentherapeutics.com 

Phone: (303) 444-6950 

Fax: (303) 444-0267 
 or other
addresses as may be given from time to time under the terms of this notice provision. 
 15.4        LICENSEE must
comply with all applicable national, state and local laws and regulations in connection with its activities pursuant to this AGREEMENT. 

15.5        This AGREEMENT will be construed and enforced in accordance with the laws of the United States of America
and of the State of Texas. The Texas state courts of Dallas County, Texas (or, if there is exclusive federal jurisdiction, the United States District Court for the Northern District of Texas) shall have exclusive jurisdiction and venue over any
dispute arising out of this AGREEMENT, and LICENSEE hereby consents to the jurisdiction of such courts. 

15.6        Failure of a party to enforce a right under this AGREEMENT will not act as a waiver of that right or the
ability to later assert that right relative to the particular situation involved. 
 15.7        Headings are
included herein for convenience only and shall not be used to construe this AGREEMENT. 
 15.8        If any part of
this AGREEMENT is for any reason found to be unenforceable, all other parts nevertheless remain enforceable. 

15.9        This AGREEMENT may be executed in two or more counterparts, each of which shall be deemed an original but
all of which together shall constitute one and the same instrument. 
 15.10      Neither party shall be held liable or
responsible to the other party nor be deemed to have defaulted under or breached this AGREEMENT for failure or delay in fulfilling or performing any term of this AGREEMENT when such failure or delay is caused by or results from causes beyond the
reasonable control of the affected party, including, without limitation, fire, floods, earthquakes, natural disasters, embargoes, war, acts of war (whether war is declared or not), insurrections, riots, civil commotions, strikes, lockouts or other
labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority. 
 THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK

  
 Page 16 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 
IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute this AGREEMENT. 

 

											
	 BOARD OF REGENTS OF

THE UNIVERSITY OF TEXAS SYSTEM
	 	MIRAGEN THERAPEUTICS, INC.	 	
						
	 By
	 	         /s/ John A. Roan
	 		 	 By
	 	         /s/ William S. Marshall
	 	
		 	John A. Roan	 		 		 	William S. Marshall, Ph.D.	 	
		 	Executive Vice President for Business Affairs	 		 		 	Chief Executive Officer	 	
		 	UT Southwestern Medical Center at Dallas	 		 		 		 	
			
	
Date     4/29/08            
                                
	 		 	Date  April 24,
2008                                         
                   
			
	 Approved as to Content:
	 		 	
						
	 By
	 	         /s/ Dennis K. Stone
	 		 		 		 	
		 	Dennis K. Stone, M.D.	 		 		 		 	
		 	Vice President for Technology Development	 		 		 		 	
		 	UT Southwestern Medical Center at Dallas	 		 		 		 	
			
	 Date
    4/29/08                                    
        
	 		 	

  
 Page 17 of 17 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended. 

 
EXHIBIT 1 
 PATENT RIGHTS 

a.         [*]; and 

b.         [*].

  
 Exhibit 1 Page 1 of 1

 [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to
Rule 406 of the Securities Act of 1933, as amended. 

 
EXHIBIT 2 
 ROYALTY REPORT 

 

													
		 	Period:   	  	     /    /        	  		  	through   	  	     /    /        	  	

  

			
	
Licensee:                 
                                         
                 
	  	
              Agreement #: 
L2021.miRagen$

 If license covers several product lines, please prepare a separate report
for each product line. Then combine all product lines into a summary report. 
  

									
	 Report Type:
	  	 ☐    Single Product Line Report:
	 	  
	  	
		  		 	(Product Name)	  	
		  	 ☐    Multi-Product Summary Report (Page 1 of
           pages)
	  	

  

															
	Country	 	Quantity
Produced	 	Gross
Sales ($)	 	*Less
Allowances	 	 Net

Sales
 ($)
	 	Royalty
Rate	 	Conversion
Rate (if
applicable)	 	Royalties
Due this
period(US$)
	 USA

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Canada

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Japan

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Other:

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
Sublicensees:
  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
                    
  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
                    
  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  

			
	Subtotal:	 	                    
	Less Advanced Royalty Balance (if any):	 	                    
	TOTAL ROYALTIES DUE THIS PERIOD:	 	                    

  

	
	* Please indicate in the following space the specific types of deductions and the corresponding amounts used to calculate
Allowances:                                       
                                         
                                         
                                         
                                         
                            
	  

	  

  

			
	Prepared by --	  	
Name:                  
                                         
                 

		
		  	
Title:                  
                                         
                   

		
		  	
Date:                  
                                         
                   

 Mail completed report and royalty payment (make checks payable to:   UT SOUTHWESTERN) to: 

UT Southwestern Medical Center at Dallas 

Office for Technology Development 

5323 Harry Hines Boulevard 
 Dallas,
Texas 75390-9094 

  
 Exhibit 2 Page 1 of 2

 [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to
Rule 406 of the Securities Act of 1933, as amended. 

 ATTN: Director for Technology Development 

  
 Exhibit 2 Page 2 of 2

 [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to
Rule 406 of the Securities Act of 1933, as amended.EX-10.43

 [*] = Certain confidential information contained in this document, marked by brackets, is
filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit 10.43

 LICENSE AND COLLABORATION AGREEMENT 

This LICENSE AND COLLABORATION AGREEMENT (the
“Agreement”) is entered into on 20th of October 2010 (the “Effective Date”) between MIRAGEN THERAPEUTICS,
INC., a Delaware corporation with its principal place of business at 6200 Lookout Road, Suite 100, Boulder, CO 80301, USA (“Licensee”), and T2CURE GMBH, a German
limited liability corporation with its principal place of business at Bettinastraße 35-37, 60325 Frankfurt am Main, Germany (“Licensor”). Licensor and Licensee are sometimes referred to
herein individually as a “Party” and collectively as the “Parties.” 
 RECITALS 

WHEREAS, Licensor has developed certain intellectual property relating to the use of
certain microRNAs for the treatment of diseases, including without limitation the microRNA known as miR-92; 

WHEREAS, Licensee has substantial expertise in the development of innovative
microRNA-based therapeutics for the treatment of cardiovascular and muscle diseases; and 

WHEREAS, Licensor desires to grant to Licensee, and Licensee desires to obtain from
Licensor, the worldwide right to research, develop, manufacture and commercialize product(s) comprising certain proprietary microRNAs owned or controlled by Licensor, on the terms and conditions set forth herein. 

NOW THEREFORE, in consideration of the foregoing premises and the mutual
promises, covenants and conditions contained in this Agreement, the Parties agree as follows: 
 ARTICLE 1 

DEFINITIONS 

As used in this Agreement, the following initially capitalized terms, whether used in the singular or plural form, shall have
the meanings set forth in this Article 1. 
 1.1        “Active
Ingredient” means one or more clinically active materials in a pharmaceutical product which provide its pharmacological activity (excluding formulation components such as coatings, stabilizers, excipients or solvents, or controlled release
technologies). 
 1.2        “Affiliate” means, with respect
to a particular Party, a person, corporation, partnership, or other entity that controls, is controlled by or is under common control with such 

  
 1. 

 
Party. For the purposes of this definition, the word “control” (including, with correlative meaning, the terms “controlled by” or “under the common control with”)
means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity or the power to elect or appoint fifty percent (50%) or more of the members of
the governing body of such entity, whether by the ownership of fifty percent (50%) or more of the voting stock of such entity, or by contract or otherwise. 

1.3        “Combination Product” means either: (a) any
pharmaceutical product that consists of a Licensed Compound whose intended use is within the Licensed Field and at least one other Active Ingredient that is not a Licensed Compound; or (b) any combination of a Licensed Compound whose intended use is
within the Licensed Field and another pharmaceutical product that contains at least one other Active Ingredient that is not a Licensed Compound where such products are not formulated together but are sold together as a single product and invoiced as
one product. All references to Licensed Product in this Agreement shall be deemed to include Combination Product, except if otherwise indicated or apparent from the context in Section 1.27. 

1.4        “Commencement” means, with respect to a clinical
trial for a Licensed Product, the first dosing of the first human subject with such Licensed Product in such clinical trial. 

1.5        “Commercialization” means any and all activities,
whether before or after Regulatory Approval, directed to the marketing and promotion of the Licensed Products and shall include pre-launch and post-launch marketing, promoting, marketing research, distributing, offering to commercially sell and
commercially selling the Licensed Products, importing, exporting or transporting the Licensed Products for commercial sale and regulatory affairs with respect to the foregoing. When used as a verb, “Commercializing”.
“Commercialize” and “Commercialized” shall mean to engage in Commercialization. 

1.6        “Commercially Reasonable Efforts” means those
efforts and resources used by miRagen at least equal to the efforts and resources normally used by a biotechnology company of similar size to, and having similar resources as, miRagen in the exercise of its reasonable business discretion relating to
the research and Development of a potential pharmaceutical product or the manufacture or Commercialization of a pharmaceutical product, in each case owned by it or to which it has exclusive rights, with similar product characteristics and scientific
potential as the Licensed Product and of similar market potential at a similar stage in its development or product life as the Licensed Product, taking into account issues of patent coverage, safety and efficacy, product profile, competitiveness of
the marketplace, proprietary position, and profitability (eluding pricing and reimbursement). 

1.7        “Confidential Information” means, with respect to a
Party, all reports and other Information of such Party that is disclosed to the other Party under this Agreement, whether in oral, written, graphic, visual or electronic form. All Information disclosed by either Party pursuant to the Confidential
Disclosure Agreement between the Parties dated 21st September 2009, shall be deemed to be such Party’s Confidential Information disclosed hereunder. 

  
 2. 

1.8        “Control” means, with respect to any material,
Information, or intellectual property right, that a Party, whether directly or indirectly, owns or has a license to such material, Information, or intellectual property right and, in each case, has the ability to grant to the other Party access, a
license, or a sublicense (as applicable) to the foregoing on the terms and conditions set forth in this Agreement without violating the terms of any then-existing agreement or other arrangement with any Third Party. 

1.9        “Development” means all activities related to test
method development and stability testing, toxicology, formulation, process development, manufacturing scale-up, qualification and validation, quality assurance and quality control related to the foregoing activities, clinical trials, including
statistical analysis and report writing, the preparation and submission of drug approval applications, regulatory affairs with respect to the foregoing and all other activities otherwise requested or required by a Regulatory Authority as a condition
or in support of obtaining or maintaining a Regulatory Approval. When used as a verb, “Develop” shall mean to engage in Development. 

1.10      “Dollar” means U.S. Dollar, and “$” shall be
interpreted accordingly. 
 1.11      “Effective Date” shall have the
meaning set forth in the first and opening paragraph of this Agreement. 

1.12      “EMA” means the European Medicines Agency and its successors.

 1.13      “Euro” means the official currency of the European Union,
and “€” shall be interpreted accordingly. 
 1.14      “First
Commercial Sale” means, with respect to a Licensed Product in a particular country or regulatory jurisdiction, the first commercial sale to a Third Party of a Licensed Product in such country or regulatory jurisdiction after Regulatory
Approval for such Licensed Product has been obtained in such country or regulatory jurisdiction. 

1.15      “Indication” means a unique and distinguishable human disease
or condition in the Licensed Field which can be treated, prevented or cured or the progression of which can be delayed and for which a Licensed Product is specifically developed in order to obtain Regulatory Approval for use of such Product pursuant
to an approved label claim. For clarity, with respect to two particular indications: (a) if the marketing of the Licensed Product for such indications would require separate Regulatory Approval based on data obtained from separate registration
trials for each of such indications, then such two indications shall be deemed two Indications; or, as the case may be, (b) if the marketing of the Licensed Product for such indications would not require separate Regulatory Approval based on data
obtained from separate registration trials for each of such indications, then such two indications shall be deemed the same Indication. 

1.16      “Information” means any data, results, technology, business
information and information of any type whatsoever, in any tangible or intangible form, whether or not confidential, proprietary, patented or patentable, including, without limitation, technical, scientific and other know-how, trade secrets,
practices, techniques, methods, processes, inventions, developments, specifications, formulations, formulae, materials or compositions of matter of any type or kind (patentable or otherwise), software, algorithms, marketing reports,

  
 3. 

 
expertise, skills, experiences, ideas, technology, technical assistance, results and other material, including test data (including pharmacological, pharmaceutical, physical, biological,
chemical, biochemical, toxicological, preclinical, safety and clinical test data), analytical and quality control data and samples, stability data, other study data, designs, protocols and procedures. 

1.17      “Laws” means all laws, statutes, rules, regulations,
ordinances and other pronouncements having the effect of law of any federal, national, multinational, supra-national, state, provincial, county, city or other political subdivision, domestic or foreign. 

1.18      “Licensed Compound” means modulators of miR-92, the
composition of matter of which, or the method of making or using of which, is covered by at least one Licensed Patent. 

1.19      “Licensed Field” means human therapeutic, prophylactic and
diagnostic uses through modulation of miR-92 via inhibition or enhancement of miR-92 in human beings by administering a compound to such human beings, [*]. 

1.20      “Licensed Know-How” means all Information that encompass or
relate to Licensed Compounds and that are necessary and/or reasonably useful for the research, Development, manufacture or Commercialization of Licensed Compounds and/or Licensed Products, in each case within in the Licensed Field and (a) that are
Controlled by Licensor or its current Affiliates as of the Effective Date; (b) owned by Licensor or its Affiliates during the Term; or (c) included as Licensed Know-How by operation of Section 2.3, in each case including but not limited to all
chemical, structural, manufacturing process, biological, pharmacological, toxicological, clinical, .assay and other methods of screening. For clarity, Licensed Know-How excludes rights granted under the Licensed Patents. 

1.21      “Licensed Patent” means all existing Patents (including all
claims and the entire scope of claims therein as well as certificates of correction, substitutions, extensions), both foreign and domestic, that are: (a) Controlled by Licensor on the Effective Date of this Agreement; (b) owned by Licensor or its
Affiliates during the Term; or (c) included as Licensed Patents by operation of Section 2.3, in each case that are necessary and/or reasonably useful to exploit the miR-92 within the Licensed Field. Without limiting the foregoing, Licensed Patents
specifically includes the patent application [*] and all Patents claiming priority thereto. All Licensed Patents existing as of the Effective Date are set forth on Exhibit B attached hereto. 

1.22      “Licensed Product” means any pharmaceutical product (either as
a monotherapy or as a Combination Product) whose intended use is within the Licensed Field and that comprises a Licensed Compound, in all forms, presentations, formulations and dosage forms. 

1.23      “Licensed Technology” means the Licensed Patents and Licensed
Know-How. 
 1.24      “Licensed Territory” means all countries and
territories of the world. 
 1.25      “microRNA Technology” means the
design, identification, characterization, manufacture and use of microRNA molecules. 

1.26      “miR-92” means Licensor’s proprietary microRNA known as
rniR-92 and having the sequence set forth on Exhibit A. 

  
 4. 

 1.27      “Net Sales” means
the gross amounts actually invoiced by Licensee, its Affiliates and/or its other Sublicensees for the sale of Licensed Products to Third Parties that are not Sublicensees of the selling Party (unless such Sublicensee is the end user of such
Product), less the following amounts: transportation charges, commissions, customary rebates or discounts actually granted, credits for allowances or trades actually allowed (including, without limitation, charge backs from wholesalers), insurance
costs, and sales, VAT, use and other taxes based on sales prices, but not including taxes assessed on income derived from such sales. 
 For
the purpose of determining royalties due to Licensor in case that a Licensed Product is sold in any country in the form of a Combination Product, Licensee shall calculate Net Sales of Combination Products by multiplying Net Sales of such Combination
Product in such country by a fraction A/A+B, where A is the average invoice price in such country of the Licensed Product portion of such Combination Product when sold separately and B is the average invoice price in such country of the other Active
Ingredient(s) and/or other pharmaceutical product(s) in such Combination Product when sold separately. However, if the Licensed Product portion of such Combination Product is not sold separately in a specific country, Net Sales shall be adjusted by
multiplying Net Sales of such Combination Product by the fraction (C-B)/C. where B is the average invoice price in such country of the other Active Ingredient(s) and/or other pharmaceutical product(s) in such Combination Product when sold separately
and C is the average invoice price in such country of the Combination Product. it in a specific country, the other Active Ingredient(s) and/or other pharmaceutical product(s) in the Combination Product is not sold separately, Net Sales shall be
adjusted by multiplying Net Sales of such Combination Product by the fraction A/C, where A is the average invoice price in such country of the Licensed Product in such Combination Product when sold separately in such country and C is the average
invoice price in such country of such Combination Product. Where applicable, the invoice price for the other product(s) and licensed Product(s) when sold separately shall be for a quantity comparable to that used in the relevant Combination Product
and of the same class, purity and potency. If, in a specific country, neither the Licensed Product(s) nor the other Active Ingredient(s) and/or other pharmaceutical product(s) in such Combination Product are sold separately, the Parties shall
negotiate in good faith an equitable downward adjustment to Net Sales based upon the costs for manufacturing and overhead and profit for such Combination Product and all similar substances then being made and marketed and having an ascertainable
market price. 
 1.28      “Patent” means any (a) pending patent
applications, issued patents, utility models and designs; (b) reissues, renewals, substitutions, confirmations, registrations, validations, re-examinations, additions, continuations, continued prosecution applications, continuations-in-part, or
divisions of or to any patents, patent applications, utility models or designs; and (c) the equivalent or counterpart of the foregoing. 

1.29      “Person” means any individual, partnership, limited liability
company, firm, corporation, association, trust, unincorporated organization or other entity. 

1.30      “Phase 1 Clinical Trial” means a human clinical trial of a
product, the principal purpose of which is to evaluate safety in healthy individuals or patients, to determine pharmacokinetic parameters and other key pharmaceutical properties of such product (including absorption, metabolism, and elimination), or
to determine the appropriate range of doses to 

  
 5. 

 
evaluate in further clinical trials, in each ease as described in 21 C.F.R. § 312.21(a), or a similar clinical study prescribed by the Regulatory Authorities in a country other than the
United States. 
 1.31      “Phase 2 Clinical Trial” means a human
clinical trial of a product, the principal purpose of which is to evaluate the effectiveness of such product in the target patient population, as described in 21 C.F.R. § 312.21(b), or a similar clinical study prescribed by the Regulatory
Authorities in a country other than the United States. 
 1.32      “Phase 2b
Clinical Trial” means a controlled clinical study of a product in human patients to evaluate its safety and efficacy in the proposed therapeutic indication at multiple doses and/or regimens, as described in 21 C.F.R. Part 312.21(b), or a
similar clinical study prescribed by the Regulatory Authorities in a country other than the United States. 

1.33      “Phase 3 Clinical Trial” means a human clinical trial of a
product on a sufficient number of subjects that is designed to (a) establish that such product is safe and efficacious for its intended use; (b) define warnings, precautions and adverse reactions that are associated with such product in the dosage
range to be prescribed; and (c) support Regulatory Approval of such product, as described in 21 C.F.R. § 312.12(c), or a similar clinical study prescribed by the Regulatory Authorities in a country other than the United States. 

1.34      “Regulatory Approval” means, with respect to a Licensed
Product in any country or regulatory jurisdiction, any and all approvals (including, where required, pricing and reimbursement approvals), registrations, technical, medical, scientific and other licenses or authorizations from the relevant.
Regulatory. Authority in a country or jurisdiction that is specific to Licensed Product and necessary to Commercialize such Licensed Product in such country or jurisdiction. 

1.35      “Regulatory Authority” means, in a particular country or
regulatory jurisdiction, any applicable federal, national, multinational, supra-national, regional, state, provincial or local regulatory agencies, departments, bureaus, commissions, councils or other government entities regulating or otherwise
exercising authority involved in granting Regulatory Approval and/or, to the extent required in such country or regulatory jurisdiction. 

1.36      “Royalty Term” means the term of royalty payment obligation,
as determined in accordance with Section 4.6 (c). 

1.37      “Sublicensee” means any Affiliate of Licensee or Third Party
who receives a sublicense from Licensee relating to any rights granted to Licensee pursuant to this Agreement. 

1.38      “Term” means the term of this Agreement, as determined in
accordance with Article 9. 
 1.39      “Third Party” means any person
or entity other than Licensor or Licensee or an Affiliate of either of them. 

1.40      “Valid Claim” means, with respect to any country, an unexpired
claim of an issued and unexpired Patent (as may be extended through supplementary protection certificate or patent term extension or the like) included within the Licensed Patents to the extent such claim

  
 6. 

 
has not been revoked, abandoned, disclaimed or withdrawn, or held invalid, unenforceable or unpatentable by a patent office, court or other governmental agency of competent jurisdiction in a
final and non-appealable judgment (or judgment from which no appeal was taken within the allowable time period) and which claim has not been disclaimed, denied or admitted to be invalid or unenforceable through reissue, re-examination or disclaimer
or otherwise. 
 ARTICLE 2 

LICENSES 

2.1        License. Subject to the terms of this Agreement, Licensor
hereby grants Licensee an exclusive license, with the right to grant sublicenses at one or more tiers, under the Licensed Technology to research, Develop, manufacture, make, have made, use, sell, offer for sale, otherwise Commercialize and import
the Licensed Products in the Licensed Field in the Licensed Territory. 

2.2        Sublicenses. Licensee shall have the right to grant
sublicenses under any or all of the rights granted in Section 2.1 to its Affiliates and to Third Parties, provided that Licensee informs Licensor of such sublicenses in writing without delay. Each such sublicense shall be consistent with the terms
and conditions of this Agreement. Licensee shall be responsible for the performance by its Sublicensees of all obligations imposed under the terms of this Agreement. 

2.3        Third Party Technology. The Parties acknowledge that, during
the Term, Licensor may in-license intellectual property from a Third Party which is necessary and/or reasonably useful for the Development, manufacture or Commercialization of Licensed Compounds and/or Licensed Products in the Licensed Field. To the
extent Licensor has the right to grant to Licensee a sublicense under such Third Party intellectual property for Licensee to Develop, manufacture and Commercialize Licensed Compounds and Licensed Products in the Licensed Field, Licensor shall inform
Licensee of the existence of such Third Party intellectual property and the terms of the agreement between Licensor and such Third Party, and, upon Licensee’s request, such Third Party intellectual property shall be included in the definition
of Licensed Know-How and Licensed Patents, as applicable, provided that Licensee agrees to be responsible for any payment obligations due to such Third Party by reason of the practice of such sublicense by Licensee, its Affiliates and other
Sublicensees. The Parties acknowledge that, as of the Effective Date, Licensor and the University of Frankfurt (the “University”) are under an existing arrangement under which Licensor has the right of first negotiation under
certain intellectual property owned by the University and/or its Affiliates and/or employees that may be necessary and/or reasonably useful for the Development, manufacture and/or Commercialization of Licensed Compounds and/or Licensed Products in
the Licensed Field (the “University Technology”). Within ten (10) days after receiving any notification from the University informing Licensor of the existence of such University Technology and/or triggering Licensor’s right of
first negotiation, Licensor shall provide such notification to Licensee, and in the event Licensee wishes to obtain rights under such University Technology for the Development, manufacture and/or Commercialization of Licensed Compounds and/or
Licensed Products in the Licensed Field, Licensee shall so inform Licensor and Licensor shall negotiate with the University to obtain such rights, at Licensor’s sole discretion in Licensor’s own name (for further sublicense to Licensor) or
on behalf of Licensee, provided that Licensee agrees to be responsible 

  
 7. 

 
for any payment obligations due to University by reason of Licensee’s practice of such University Technology, 

ARTICLE 3 
 TECHNOLOGY
TRANSFER, DEVELOPMENT AND COMMERCIALIZATION 
 3.1        Technology
Transfer. Promptly following the Effective Date and receipt of the upfront fee pursuant to Section by Licensor, Licensor shall communicate to Licensee all facts and information then known to Licensor comprising or relating to the Licensed
Technology and shall furnish Licensee with copies of, and if reasonably requested by Licensee, physical access to the originals of, any and all documents, electronic records, photographs, models, samples and other tangible materials in
Licensor’s Control that relate directly to the Licensed Technology and/or that may be necessary or reasonably useful for the exercise of the license set forth in Section 2.1. Licensee may request such facts, information, and copies from time to
time throughout the term of this Agreement, and Licensor’s response to each such request shall include all specified items generated since the previous request or otherwise not available at the time of the previous request. Licensor shall keep
Licensee reasonably informed of all Licensed Technology created after the Effective Date. 

3.2        Development and Commercialization of Licensed Products. As
between the Parties, Licensee shall have sole control, authority, and discretion over the research, Development, manufacture and Commercialization of Licensed Products in the Licensed Field in the Licensed Territory. Licensee shall use Commercially
Reasonable Efforts to research, Develop and Commercialize at least one (1) Licensed Product, whether alone or with or through one (1) or more Affiliates or other Sublicensees. 

3.3        Progress Reports. No later than each anniversary of the
Effective Date, until the First Commercial Sale of the first Licensed Product, Licensee shall submit to Licensor a written annual progress report summarizing Licensee’s (and/or its Affiliates’ and other Sublicensees’) research and
Development of Licensed Products and efforts toward Commercialization of Licensed Products in the previous year. Each such report shall be the Confidential Information of Licensee. 

3.4        Compliance. Licensee agrees that in connection with its
activities as set forth in Section 3.2 above: (a) it shall comply with all applicable Laws; and (b) it will not employ or engage any Person who has been debarred by any Regulatory Authority. Licensee shall have the right to engage subcontractors for
such activities so long as Licensee remains primarily responsible for the performance of such subcontractor(s). 

3.5        Licensee Support to Licensor. During the Term, Licensee
intends to conduct research activities relating to [*]. During the Term, Licensee agrees to, at the reasonable request of Licensor, supply Licensor with [*] for the sole use in [*] (as defined in more detail in the material transfer agreement) for
non-commercial research purposes only, pursuant to a material transfer agreement in the form attached to this Agreement as Exhibit C. Licensor shall pay to Licensee [*] for [*] supplied by Licensee to Licensor hereunder, with the specific price [*]
to be-determined by the Parties in advance based on the nature of such [*]. 

  
 8. 

 ARTICLE 4 

FINANCIAL PROVISIONS 

4.1        Upfront Fee. Within [*] days after the Effective Date,
Licensee shall pay to Licensor a one-time upfront fee of thirty-five thousand Euros (€35,000). 

4.2        Annual Technology Access Fee. Commencing the first
anniversary of the Effective Date and within [*] days after each anniversary of the Effective Date for so long as the Agreement is in effect, Licensee shall pay to Licensor an annual license maintenance fee in the amount of three thousand Euros
(€3,000), which shall be fully creditable against any royalties, milestone payments or sublicense fees due from Licensee to Licensor under this Article 4. 

4.3        Patent Reimbursement Fee. During the Term, Licensee shall
reimburse [*] Licensor’s reasonable out-of-pocket expenses actually incurred by Licensor in connection with the preparation, filing, prosecution and maintenance of the Licensed Patents. Licensee shall have the right to, at any time, decline to
reimburse Licensor for such expenses with respect to a particular patent application or patent included in Licensed Patent by providing written notification to Licensor, upon which notification such patent application or patent shall no longer be
subject to the license granted to Licensee hereunder and Licensee shall have no further obligation to reimburse Licensor for expenses incurred in connection with the preparation, filing, prosecution and maintenance of such patent application or
patent. 
 4.4        Regulatory Milestone Payments. 

(a)        Licensee shall make the following non-refundable and non-creditable
regulatory milestone payments to Licensor within [*] days after the first achievement of each milestone event for a separate Licensed Product for each Indication by Licensee or its Affiliates (but not Third Party Sublicensees), as set forth below.
For clarity, for the purpose of this Section 4.4(a), a separate Licensed Product shall mean a Licensed Product [*]. For clarity, Licensed Products [*] but are [*] shall not be considered separate Licensed Products. 

 

			
	 	 
	
Milestone Event
  
	 	
Milestone Payment
  

	 	 
	
The Commencement of the [*] Clinical Trial [*]

 
	 	 $ 150,000

 

	 	 
	
The Commencement of the [*] Clinical Trial [*]

 
	 	 $ 500,000

 

	 	 
	
The first Regulatory Approval for a Licensed Product by the FDA

 
	 	 $ 2,500,000

 

	 	 
	
The first Regulatory Approval for a Licensed Product in the European Union

 
	 	 $ 1,500,000

 

	 	 
	
The first Regulatory Approval for a Licensed Product in Japan

 
	 	 $ 1,000,000

 

  
 9. 

 (b)        In addition, in the
event Licensee ceases the Development of a particular Licensed Product before Regulatory Approval is obtained for such Product from either the FDA or the EMA (the “Discontinued Product”), then, no milestone payment shall be due for
the Licensed Product that is the next most advanced with respect to clinical Development if such milestone payment is triggered by a milestone event for which Licensee has already submitted milestone payment to Licensor for the Discontinued Product.

 4.5        Sublicense Payments. Following [*] and during the Term,
Licensor shall be entitled to receive [*] of Sublicense Income received by Licensee or any Affiliate of Licensee from a Sublicensee that is not an Affiliate of Licensee (“Third Party Sublicensee”) in consideration for any grant of
sublicense hereunder. “Sublicense Income” means consideration in any form received by Licensee or its Affiliates from a Third Party Sublicensee in consideration for the practice of Licensed Technology, including license maintenance
fees and milestone payments, but expressly excluding any payment or consideration received by Licensee or any of its Affiliates from a Third Party Sublicensee in consideration for anything other than such sublicense, including without limitation: up
front fees, any royalties based on Net Sales of Licensed Products by or on behalf of any Third Party Sublicensee; amounts paid for equity of Licensee or its Affiliates by a Third Party Sublicensee; loans or extensions of credit by a Third Party
Sublicensee to Licensee or its Affiliates; consideration for a license granted under technology other than the Licensed Technology; or consideration intended as reimbursement or payments to Licensee or its Affiliates in exchange for services
performed, such as research, process development, manufacturing, packaging, quality assurance, quality control, regulatory submissions, and patent portfolio management. 

4.6        Royalties. 

(a)        Royalty Rates. Licensee shall pay to Licensor a running
royalty at the rate of [*], on Net Sales of the Licensed Products in the Licensed Field in all countries of the Licensed Territory during the Royalty Term. 

(b)        Royalty Offsets. If Licensee obtains a license from any
Third Party under a Patent owned or controlled by such Third Party that would be infringed by the manufacture or Commercialization of a Licensed Compound in a particular country, then, Licensee’s royalty obligations with respect to Licensed
Products containing such Licensed Compound in such country shall be reduced by [*] of the amount of the payments made by Licensee to such Third Party, provided that Licensee’s royalty obligations with regard to such country shall not be reduced
to less than [*] by operation of this Section 4.6(b). 

(c)        Royalty Term. The royalty payment obligation under this
Section 4.6 shall, on a country-by-country and Licensed Product-by-Licensed Product basis, commence upon the First Commercial Sale of such Licensed Product in such country, and ending upon the later of (i) the tenth (10th) anniversary of the First
Commercial Sale of such Licensed Product in such country; and (ii) the expiration of the last-to-expire Valid Claim which would be infringed by the importation, use, manufacture or Commercialization of such Licensed Product in such country but for
the licenses granted herein. After the expiration of such last-to-expire Valid Claim, the applicable royalty rates in a particular country for a particular Licensed Product shall be reduced by [*]. 

  
 10. 

 (d)        Royalty Payments
and Reports. Within [*] after the end of each calendar quarter, Licensee shall deliver to Licensor a report containing, for the prior calendar quarter, the Net Sales of each Licensed Products that are sold by Licensee, its Affiliates and (if
applicable) any other Sublicensees and payments due to Licensor with respect to the foregoing. Concurrent with these reports, Licensee shall remit to Licensor any payment due for the applicable calendar quarter. If no royalties are due to Licensor
for such reporting period, the report shall so state. 

4.7        Foreign Exchange. The rate of exchange to be used in
computing the amount of currency equivalent in Dollars of Net Sales invoiced in other currencies shall be made at the average of the interbank rates reported at OANDA.COM over the applicable reporting period for the payment due. 

4.8        Payment Method. All payments due to Licensor hereunder shall
be made by wire transfer of immediately available funds into an account designated by Licensor. 

4.9        Records; Audits. Licensee will maintain complete and accurate
records in sufficient detail to permit Licensor to confirm the accuracy of the calculation of royalty payments under this Agreement. Upon reasonable prior notice, such records shall be available during regular business hours for a period of [*]
years from the end of the calendar year to which they pertain for examination at the expense of Licensor, whereas such examination shall not occur more often than once each calendar year, by an independent certified public accountant selected by
Licensor and reasonably acceptable to Licensee, for the sole purpose of verifying the accuracy of the financial reports furnished by Licensee pursuant to this Agreement. Any such auditor shall not disclose Licensee’s Confidential Information,
except to the extent such disclosure is necessary to verify the accuracy of the financial reports furnished by Licensee or the amount of payments due by Licensee under this Agreement, Any amounts shown to be owed but unpaid shall be paid within [*]
days from the accountant’s report. Licensor shall bear the full cost of such audit unless such audit discloses an underpayment by Licensee of more than [*] of the amount due, in which case Licensee shall bear the full cost of such audit. In the
event such audit reveals an overpayment, Licensor shall promptly refund Licensee any overpayment discovered in the course of such audit. Alternatively, at Licensee’s election, Licensee shall have the right to credit any such overpayment to its
future payment obligations to Licensor. Licensee shall include in each sublicense agreement under which a sublicense is granted by it pursuant to this Agreement a provision requiring the Sublicensees to make reports to the Licensee, to keep and
maintain records of sales made pursuant to such sublicense, to grant access to such records by Licensee’s representatives to the same extent required of Licensee under this Agreement and to impose such obligations on any of its future
sublicensee(s). In addition, Licensee shall use commercially reasonable efforts to include in each sublicense agreement under which a sublicense is granted pursuant to this Agreement a provision granting access to such records to Licensor in the
same manner as and in addition to the access granted to Licensee. 

4.10      Taxes. Each Party shall be safely responsible for the payment of all
taxes imposed on its share of income arising directly or indirectly from the efforts of the Parties under this Agreement. If Licensee is required to make a payment to Licensor subject to a deduction of tax or withholding tax, then the sum payable by
Licensee (in respect of which such deduction or withholding is required to be made) shall be made to Licensor after deduction of the amount required to be so deducted or withheld. 

  
 11. 

 ARTICLE 5 

INTELLECTUAL PROPERTY 

5.1        Ownership of Existing IP and Inventions. 

(a)        Existing IP. Any intellectual property rights, including
without limitation, Patents, know-how and other intellectual property rights existing on the Effective Date shall be owned and controlled (except as set forth in this Agreement) by the respective Party only. Except as set forth in this Agreement,
each Party will retain all right, title and interest in and to such existing intellectual property rights. 

(b)        Inventions of Licensee. Licensee shall own the entire right,
title and interest in and to any and all Information discovered, created, identified or made solely by it and its Affiliates and their respective employees, agents or independent contractors in the course of performing or exercising its rights under
this Agreement, and all intellectual property rights in any of the foregoing. 

5.2        Prosecution of Licensed Patents. 

(a)        Subject to Sections 5.2(b) and Section 4.3, Licensor shall be
responsible for and control the preparation, filing, prosecution and maintenance of all patents and patent applications within the Licensed Patents; provided, however, that Licensor shall (i) provide all information reasonably requested by Licensee
with respect to the Licensed Patents, (ii) promptly notify Licensee in writing with respect to all significant developments regarding the Licensed Patents, (iii) promptly provide Licensee with a copy of each material communication from any patent
authority regarding the Licensed Patents, and (iv) provide Licensee with drafts of each material filing (including without limitation draft patent applications and responses to office actions and similar filings) with respect to the Licensed Patents
a reasonable amount of time in advance of the anticipated filing date and shall, prior to filing, revise such documents to reflect Licensee’s reasonable comments. 

(b)        In the event that Licensor determines not to file, maintain or
continue prosecution of any patent or patent application within the Licensed Patents, Licensor shall provide Licensee written notice thereof at least thirty (30) days before the applicable deadline. Upon receipt of such notice, Licensee shall have
the right, but not the obligation, at its expense, to assume responsibility for filing, prosecuting, and maintaining such patents and patent applications. If upon such notice from the Licensor the Licensee decides to assume such responsibility, in
its sole discretion, it shall so notify Licensor in writing. 

(c)        As soon as practicable after receipt of the notice from Licensee
described in Section 5.2(b), Licensor shall transfer the existing, complete patent files for all applicable patents and patent applications to Licensee, shalt file all documents necessary to transfer correspondence with the U.S. Patent and Trademark
Office and other applicable patent authorities to Licensee and shall give Licensee’s patent counsel power of attorney thereto. Licensor shall cooperate with Licensee in the transfer of all prosecution and maintenance responsibilities relating
to the Licensed Patents. 

  
 12. 

 (d)        Each Party shall fully
cooperate with the other Party to execute all lawful papers and instruments and to make all rightful oaths and declarations as may be necessary or useful in the preparation and prosecution of Licensed Patents. 

5.3        Enforcement. 

(a)        Each Party shall promptly notify the other in writing of any
alleged or threatened infringement of the Licensed Patents of which it becomes aware. Licensee shall have the first right, but not the obligation, to bring a suit or otherwise take action against any person or entity directly infringing,
contributorily infringing or inducing infringement of the Licensed Patents. If Licensee fails to bring a suit or otherwise take action with respect to infringement of any Licensed Patents within [*] days following receipt of notice of the alleged
infringement, Licensor shall have the right to bring suit or otherwise take action with respect to such infringement at his own expense and by counsel of his own choice, and Licensee shall have the right, at its own expense, to be represented in any
such suit by counsel of its own choice. 
 (b)        Each Party shall
cooperate with and provide to the Party enforcing any such rights under this Section 5.3 reasonable assistance in such enforcement, at such enforcing Party’s request and expense. Licensor further agrees to join, at Licensee’s expense; any
such action brought by Licensee under this Section 5.3 as a party plaintiff if required by applicable law to pursue such action. The enforcing Party under this Section 5.3 shall keep the other Party regularly informed of the status and progress of
such enforcement efforts, and shall reasonably consider the other Party’s comments on any such efforts. 

(c)        Any recovery obtained by either or both of the Parties in
connection with or as a result of any action to enforce any Patent Right, whether by settlement or otherwise, shall first be applied to reimburse the costs and expenses of the Party that brought and controlled such action and then to reimburse the
costs and expenses of the other Party in connection with such action, and any amounts remaining after such reimbursement shall be retained by the Party that brought and controlled such action, except that if Licensee is the Party that brought and
controlled such action, [*]. 
 (d)        Licensee may exercise any of its
rights pursuant to this Section 4.6 through an Affiliate or Third Party Sublicensee. 
 ARTICLE 6 

REPRESENTATIONS AND WARRANTIES 

6.1        Mutual Representations and Warranties. Each Party hereby
represents, warrants, and covenants (as applicable) to the other Party as follows: 

(a)        Corporate Existence and Power. It is a company or
corporation duly organized, validly existing, and in good standing under the laws of the jurisdiction in which it is incorporated, and has full corporate power and authority and the legal right to own and operate its property and assets and to carry
on its business as it is now being conducted and as 

  
 13. 

 
contemplated in this Agreement, including, without limitation, the right to grant the licenses granted by it hereunder. 

(b)        Authority and Binding Agreement. As of the Effective Date,
(i) it has the corporate power and authority and the legal right to enter into this Agreement and perform its obligations hereunder; (ii) it has taken all necessary corporate action on its part required to authorize the execution and delivery of the
Agreement and the performance of its obligations hereunder; and (iii) the Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid, and binding obligation of such Party that is enforceable against it in
accordance with its terms. 
 6.2        Additional Representations and
Warranties of Licensor. Licensor represents and warrants to Licensee that, as of the Effective Date: 

(a)        Exhibit B. Exhibit B accurately identifies all Patents
Controlled by Licensor as of the Effective Date that are necessary or reasonably useful for the research, Development, manufacture, use or Commercialization of Licensed Products as provided herein. There is no Patent owned or in-licensed by Licensor
that is necessary or reasonably useful for the research, Development, manufacture, use or Commercialization of Licensed Products existing as of the Effective Date that is not listed on Exhibit B. 

(b)        Prior Licenses and Assignments. Licensor has not prior to
the Effective Date assigned or licensed to any Person the Licensed Technology. 

(c)        Licensed Technology. Licensor is the sole owner of or
otherwise Controls the Patents and other intellectual property rights within the Licensed Technology. Licensor has the full and legal rights and authority to license to Licensee the Licensed Technology as provided herein. 

(d)        No Conflict. Licensor has not entered, and shall not enter,
into any agreement with any Third Party that is in conflict with the rights granted to Licensee under this Agreement, and has not taken and shall not take any action that would in any way prevent him from granting the rights granted to Licensee
under this Agreement, or that would otherwise materially conflict with or adversely affect Licensee’s rights under this Agreement. Licensor’s performance and execution of this Agreement does not and will not result in a breach of any other
contract to which it is a party. As of the Effective Date, Licensor is not aware of any action, suit, inquiry or investigation instituted by any Third Party that threatens the validity of this Agreement. 

(e)        No Claims. No Third Party has any license, option or other
rights or interest in or to the Licensed Technology or any part thereof. Licensor has not received, nor is he aware of, any claims or allegations that a Third Party has any right or interest in or to any patent or patent application in the Licensed
Patents or that any of such patents or patent applications are invalid or unenforceable. 

(f)        Validity and Enforceability. To Licensor’s knowledge,
there are no facts that could form the basis for the invalidation or unenforceability of any patent or patent application in the Licensed Patents. 

  
 14. 

 (g)        Third Party
Intellectual Property. To Licensor’s knowledge as of the Effective Date, no intellectual property rights of any Third Party were infringed or misappropriated during the creation of the Licensed Technology or would be infringed or
misappropriated by the making, having made, using, importing, offering for sale, or selling of Licensed Compound throughout the world. 

(h)        No Debarment. To Licensor’s knowledge, in the course of
the research and Development of Licensed Technology, Licensor has not used any employee or consultant who has been debarred by any Regulatory Authority, or, to the best of such Party’s knowledge, is the subject of debarment proceedings by a
Regulatory Authority. 
 (i)        Full Disclosure. To
Licensor’s knowledge as of the Effective Date, all written data, results and other information disclosed at any time prior to the Effective Date by Licensor relating to the Licensed Technology are true and accurate. Additionally, to
Licensor’s knowledge as of the Effective Date, Licensor has not failed and will not fail to disclose to Licensee any material information known to Licensor and in his possession and control that relates to the Licensed Technology, or that would
be required to be disclosed in order to make the data, results, and other information relating to the Licensed Technology that have been disclosed not misleading. 

(j)        Further Assurances. Licensor shall perform all acts
reasonably requested by Licensee to assure that the Licensed Technology shall be licensed to Licensee to the extent provided for herein. 

6.3        Additional Representations and Warranties of Licensee.
Licensee represents and warrants to Licensor that, as of the Effective Date: 

(a)        Licensee’s Intellectual Property. Licensee’s
knowledge, Licensee owns, has a license to or otherwise Controls all Patents, other intellectual property rights and know-how that are necessary or reasonably useful for the research, Development, manufacture, use or Commercialization of Licensed
Product existing as of the Effective Date, in the formulation and manner as contemplated as of the Effective Date, except for the Licensed Technology. 

(b)        Third Party Intellectual Property. To Licensee’s
knowledge and subject to Licensor’s representation under Section 6.2(g) regarding Licensed Compound, no intellectual property rights of any Third Party will be infringed or misappropriated by the research, Development, manufacture and
Commercialization of Licensed Products throughout the world, as such Licensed Product exists as of the Effective Date and in the formulation and manner as contemplated as of the Effective Date. 

6.4        No Other Representations or Warranties. EXCEPT AS EXPRESSLY
STATED IN THIS ARTICLE 6, NO REPRESENTATIONS OR WARRANTIES WHATSOEVER, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR. NON-MISAPPROPRIATION OF THIRD
PARTY INTELLECTUAL PROPERTY RIGHTS, IS MADE OR GIVEN BY OR ON BEHALF OF A 

  
 15. 

 
PARTY. ALL REPRESENTATIONS AND WARRANTIES, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, ARE HEREBY EXPRESSLY EXCLUDED. 

ARTICLE 7 

INDEMNIFICATION 

7.1        Indemnification by Licensor. Licensor hereby agrees to
defend, hold harmless and indemnify Licensee and its Affiliates, agents, directors, officers and employees (the “Licensee Indemnitees”) from and against any and all liabilities, expenses and/or losses, including without limitation
reasonable legal expenses and attorneys’ fees (collectively “Losses”) in each case resulting from Third Party suits, claims, actions and demands (each, a “Third Party Claim”) arising directly or indirectly out
of (a) a breach of any of Licensor’s obligations under this Agreement, including without limitation Licensor’s representations and warranties or covenants set forth in Article 6, or (b) the negligence or willful misconduct of any Licensor
Indemnitee. Licensor’s obligation to Indemnify the Licensee Indemnitees pursuant to this Section 7.1 shall not apply to the extent that any such Losses arise from: (A) the negligence or willful misconduct of any Licensee Indemnitee; (B) the
research, Development, manufacture or Commercialization of Licensed Products by Licensee, its Affiliates or other Sublicensees; or (C) Licensee’s breach of this Agreement. 

7.2        Indemnification by Licensee. Licensee hereby agrees to
defend, hold harmless and indemnify Licensor and its Affiliates, agents, directors, officers and employees (the “Licensor Indemnitees”) from and against any and all Losses in each case resulting from Third Party Claims arising
directly or indirectly out of (a) a breach of any obligations of Licensee under this Agreement, including without limitation Licensee’s representations and warranties or covenants set forth in Article 6; (b) the research, Development,
manufacture or Commercialization of Licensed Products by Licensee, its Affiliates or other Sublicensees; or (c) the negligence or willful misconduct of any of Licensee Indemnitees. Licensee’s obligation to Indemnify the Licensor Indemnitees
pursuant to this Section 7.2 shall not apply to the extent that any such Losses arise from: (A) the negligence or willful misconduct of any Licensor Indemnitee; or (B) Licensor’s breach of this Agreement. 

7.3        Procedure. The indemnified Party shall provide the
indemnifying Party with prompt notice of the claim giving rise to the indemnification obligation pursuant to this Article 7 and the exclusive ability to defend (with the reasonable cooperation of the indemnified Party) or settle any such claim;
provided, however, that the indemnifying Party shall not enter into any settlement for damages other than monetary damages without the indemnified Party’s written consent, such consent not to be unreasonably withheld. The
indemnified Party shall have the right to participate, at its own expense and with counsel of its choice, in the defense of any claim or suit that has been assumed by the indemnifying Party. If the Parties cannot agree as to the application of
Sections 7.1 and 7.2 to any particular Third Party Claim, the Parties may conduct separate defenses of such Third Party Claim. Each Party reserves the right to claim indemnity from the other in accordance with Sections 7.1 and 7.2 above upon
resolution of the underlying claim, notwithstanding the provisions of this Section 7.3 requiring the indemnified Party to tender to the indemnifying Party the exclusive ability to defend such claim or suit. 

  
 16. 

 7.4        Limitation of
Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, INCIDENTAL, PUNITIVE, OR INDIRECT DAMAGES OR LOSS OF PROFITS ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH
DAMAGES. NOTWITHSTANDING THE FOREGOING, NOTHING IN THIS SECTION 7.4 IS INTENDED TO OR SHALL LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF ANY PARTY UNDER SECTION 7.1 OR 7.2, OR DAMAGES AVAILABLE FOR A PARTY’S BREACH OF
CONFIDENTIALITY OBLIGATIONS IN ARTICLE 8. EXCEPT FOR LICENSOR’S WILLFUL MISCONDUCT OR GROSS NEGLIGENT, OR LICENSOR’S KNOWING, WILLFUL OR FRAUDULENT BREACH OF ANY OF ITS REPRESENTATIONS AND/OR WARRANTIES UNDER ARTICLE 6., UNDER NO
CIRCUMSTANCES SHALL THE TOTAL LIABILITY OF LICENSOR AND OTHER LICENSOR INDEMNITEES, ARISING OUT OF OR RELATED TO THIS AGREEMENT, REGARDLESS OF THE FORUM AND REGARDLESS OF WHETHER ANY ACTION OF CLAIM IS BASED ON CONTRACT, TORT, OR ANY OTHER LEGAL
THEORY (INCLUDING CLAIMS FOR INDEMNIFICATION AND DAMAGES REFERRED TO IN SENTENCE 2 OF THIS SECTION 7.4), EXCEED THE TOTAL AMOUNT THEN PAID BY LICENSEE TO LICENSOR HEREUNDER. 

7.5        Insurance. Each Party shall procure and maintain at its own
expense insurance, including product liability insurance, adequate to cover its obligations hereunder and which are consistent with normal business practices of prudent companies similarly situated at all times during which any Licensed Product is
being clinically tested in human subjects or commercially distributed or sold by such Party. It is understood that such insurance shall not be construed to create a limit of either Party’s liability with respect to its indemnification
obligations under this Article 7. 
 ARTICLE 8 

CONFIDENTIALITY 

8.1        Confidentiality. Except to the extent expressly authorized by
this Agreement or otherwise agreed in writing by the Parties, each Party agrees that, for the term of this Agreement and for [*] years thereafter, it shall keep confidential and shall not publish or otherwise disclose and shall not use for any
purpose other than as provided for in this Agreement (including to exercise its rights and/or perform its obligations hereunder) any Confidential Information of the other Party, unless the receiving Party can demonstrate by competent proof that such
Confidential Information: 
 (a)        was already known to the receiving
Party, other than under an obligation of confidentiality, at the time of disclosure by the other Party; 

(b)        was generally available to the public or otherwise part of the
public domain at the time of its disclosure to the receiving Party; 

  
 17. 

 (c)        became generally
available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving Party in breach of this Agreement; 

(d)        was disclosed to the receiving Party, other than under an
obligation of confidentiality to a Third Party, by a Third Party who had no obligation to the disclosing Party not to disclose such information to others; or 

(e)        was independently discovered or developed by the receiving Party
without the use of Confidential Information belonging to the disclosing Party. 

8.2        Authorized Disclosure. 

(a)        Each Party may disclose Confidential Information belonging to the
other Party to the extent such disclosure is reasonably necessary to: 

(i)        prosecute or defend litigation with respect to this Agreement; or

 (ii)        comply with applicable laws, governmental regulations or
court orders. 
 (b)        Additionally, Licensee may use and disclose
Confidential Information belonging to Licensor to the extent such use or disclosure: 

(i)        is reasonably necessary for the prosecution or enforcement of
Licensed Patents or patents or patent applications relating to Products or for regulatory filings for Products; 

(ii)        is pursuant to Licensee’s exercise of its license pursuant to
Section 2.1; or 
 (iii)        is to Licensee’s officers, directors,
employees, consultants, contractors, Affiliates, Sublicensees, and actual and potential investors, acquirors and collaborators who agree to be bound by equivalent terms of confidentiality (provided that the duration of confidentiality and non-use
may be shorter in such agreements but in no event shorter than [*] years from the date of disclosure). 

8.3        Notwithstanding the foregoing Section 8.2(a), in the event a Party
is required to make a disclosure of the other Party’s Confidential Information pursuant to Section 8.2(a)(ii) it will, except where impracticable, give reasonable advance notice to the other Party of such disclosure and use commercially
reasonable efforts to secure confidential treatment of such information. 

8.4        Press Release. The Parties will agree within fifteen (15)
days from the Effective Date on a press release announcing the execution of this Agreement and each Party shall be entitled to use this press release forthwith without further consent of the other Party. Licensee shall have the right to issue press
releases regarding the Development, manufacture and/or 

  
 18. 

 
Commercialization of the Licensed Product upon the prior consent of Licensor, such consent not to be unreasonably withheld. 

8.5        Publications. Both Parties recognize the mutual interest in
obtaining Patent protection for inventions, which arise under this Agreement. In the event that any Party, its Affiliates or Sublicensees wish to make a scientific or technical publication (including any oral disclosure made without obligation of
confidentiality) relating to work performed under this Agreement (“Publishing Party”), the Publishing Party shall transmit to the other Party a copy of such proposed written publication, in the case of an abstract or poster
presentation at least [*] business days, and in the case of a slide deck or manuscript at least [*] business days prior to submission for such publication. The other Party shall have the right (i) to propose modifications to such publication for
confidentiality reasons or for compliance with Regulatory Authority requirements or other applicable law, (ii) to request a delay in such publication or presentation in order to protect patentable information, or (iii) to request that the
information be maintained as a trade secret and, in such case, the Publishing Party shall not make such publication. If the other Party requests a delay, the Publishing Party shall delay submission or presentation of such publication for a period of
[*] business days from such request to enable patent applications protecting rights in such information to be filed. Any requested redactions or revisions for the purposes of complying with applicable law or Regulatory Authority requirements or to
protect Confidential Information shall be complied with by the Publishing Party. 

8.6        Return of Confidential Information. Promptly after the
termination of this Agreement, each Party shall destroy or return to the other Party all Confidential Information (including any proprietary materials) received from such other Party under this Agreement, provided that each Party shall have the
right to keep one (1) copy of such Confidential Information solely for legal archival purposes. 
 ARTICLE 9 

TERM AND TERMINATION 

9.1        Term. This Agreement shall become effective on the Effective
Date and, unless earlier terminated pursuant to this Article 9, shall remain in effect, on a Licensed Product-by-Licensed Product basis and on a country-by-country basis, until the expiration of the Royalty Term of such Licensed Product in such
country (the “Term”). Upon the expiration of the Royalty Term of a particular Licensed Product in a particular country, the license granted to Licensee under the Licensed Technology for such Licensed Product in such country shall
become non-exclusive, fully-paid, royalty-free, perpetual and irrevocable. 

9.2        Termination by Licensee. Licensee shall have the right to
terminate this Agreement at will, on a country-by-country basis, upon sixty (60) day prior written notice to Licensor. 

9.3        Termination by Licensor. Licensor shall have the right to
terminate this Agreement upon: (a) Licensee’s making of an assignment for the benefit of creditors or being adjudicated bankrupt; (b) the placing of all or substantially all of Licensee’s assets in the control of a receiver or trustee for
the benefit of creditors and the receivership or trusteeship continues 

  
 19. 

 
for a period of at least [*] days; (c) Licensee’s instituting proceedings under the federal bankruptcy laws relating to insolvency of debtors, in which Licensee seeks to be adjudicated
bankrupt or to be discharged of its debts, or to affect a plan of liquidation or reorganization; or (d) the instituting by others of those proceedings against Licensee, and Licensee consents or acquiesces by pleading or default, or those proceedings
are not contested and discharged within [*] days. 

9.4        Termination for Breach. 

(a)        Notice and Duty to Cure. If either Party believes that the
other is in material breach of this Agreement, then the Party holding such belief (the “Non-breaching Party”) may deliver notice of such breach to the other Party (the “Notified Party”), The Notified Party shall
have [*] days to cure such breach to the extent involving nonpayment of amounts due hereunder, and [*] days to either cure such breach for all other material breaches, or, if cure of such breach other than non-payment cannot reasonably be effected
within such [*] day period, to deliver to the Non-breaching Party a plan reasonably calculated to cure such breach within a timeframe that is reasonably prompt in light of the circumstances then prevailing but in no event longer than an additional
[*] days. Following delivery of such a plan, the Notified Party shall carry out the plan and cure the breach within the timeframe set forth in the plan. 

(b)        Failure to Cure. If the Notified Party fails to cure a
material breach of this Agreement as provided for in Section 9.4(a), then the Non-Breaching Party may terminate this Agreement upon written notice to the Notified Party. 

(c)        Disputes. If the Notified Party in good faith disputes
whether the Notified Party was and/or is in material breach of this Agreement pursuant to Section 9.4(a), then the issue of whether this Agreement may properly be terminated upon expiration of the cure period (unless such breach is cured as provided
in Section 9.4(a)) shall be resolved in accordance with Section 10.2. If as a result of such dispute resolution process it is confirmed that the Notified Party was and for lack of a cure in due time still is in material breach of this Agreement,
then any termination announced by the Non-breaching Party shall be deemed to have been effective [*] days following such confirmation, in the event the Notified Party does not cure such breach within such [*] day period. If as a result of such
dispute resolution process it is determined that the Notified Party was or due to a cure time no longer is in material breach of this Agreement, then no termination shall have occurred and this Agreement shall remain in effect. 

9.5        Results of Termination. 

(a)        Accrued Obligations; Survival. Termination or expiration of
this Agreement for any reason shall not release a Party from any liability or obligation that already has accrued prior to such expiration or termination, nor affect the survival of any provision hereto to the extent it is expressly stated to
survive such termination. The following provisions shall survive any expiration or termination of this Agreement for a period of time specified therein, or if not specified, then they shall survive indefinitely: Articles 1, 8, 10 and 11, and
Sections 5.1 and 9.5. 

  
 20. 

 (b)        Continued
License. Upon termination of this Agreement by Licensee for Licensor’s uncured material breach pursuant to Section 9.4, at Licensee’s option, all rights granted to Licensee in Article 2 shall survive such termination. In such case,
Licensee shall remain liable for the royalties due under Section 4.6 and the milestones due under Section 4.5, but may offset such payment obligations by any contract damages that are determined to be due to Licensee pursuant to Article 10. 

(c)        Discontinued license. Upon termination of this Agreement by
Licensor for Licensee’s uncured material breach pursuant to Section 9.4, at Licensor’s option, (i) the Licenses granted hereunder shall terminate; (ii) Licensee shall execute any documents and issue any declarations necessary to this
termination of Licenses; and (iii) Licensee shall cease all sales of the Licensed Products provided that Licensee shall have the right to sell any Licensed Product in its then current inventory (or in the inventory of its Affiliates, other
Sublicensees or distributors) within a six (6) months period. 
 ARTICLE 10 

GOVERNING LAW; DISPUTE RESOLUTION 

10.1        Governing Law. This Agreement shall be governed by the laws
of [*], without giving effect to the UN Conventions on Contracts For the International Sale of Goods (CISG) and any conflicts of laws principles that would require the application of other law. 

10.2        Dispute Resolution. The Parties shall make all reasonable
efforts to resolve any dispute concerning this Agreement, its construction or its actual or alleged breach, by face-to-face negotiations between a senior executive of Licensor and a senior executive of Licensee. Should such negotiations fail to
resolve the matter within sixty (60) days following a written request for such negotiations by either Party to the other Party, the Parties shall submit the dispute to arbitration. The arbitration shall proceed under the [*] and shall be conducted
in English. The place of arbitration shall be [*]. Each Party shall prepare and submit to the expert, within thirty (30) days of the expert’s appointment, argument and/or evidence to support its proposed resolution of the dispute. The expert
shall have forty-five (45) days from receipt of the Parties’ proposed resolutions to deliver the expert’s decision and statement of opinion disposing of the dispute. In the absence of manifest error, the expert’s decision shall be
final and binding on the Parties. Costs of the expert shall be borne by the Parties according to their respective success and failure. 

ARTICLE 11 

MISCELLANEOUS 

11.1        Entire Agreement; Amendment. This Agreement, including the
Exhibits hereto, sets forth the complete, final and exclusive agreement and all the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto with respect to the subject matter hereof and
supersedes, as of the Effective Date, all prior agreements and understandings between the Parties with respect to the subject matter hereof. Specifically, this Agreement supersedes the Confidentiality Agreement by and between the

  
 21. 

 
Parties dated September 21, 2009 and all confidential information exchanged between the Parties thereunder shall be deemed Confidential Information of the corresponding Party under this
Agreement. There are no covenants, promises, agreements, warranties, representations, conditions or understandings, either oral or written, between the Parties other than as are set forth herein and therein. No subsequent alteration, amendment,
change or addition to this Agreement shall be binding upon the Parties unless reduced to writing and signed by an authorized officer of each Party. 

11.2        Force Majeure. Each Party shall be excused from the
performance of its obligations under this Agreement to the extent that such performance is prevented by force majeure and the nonperforming Party promptly provides notice of the prevention to the other Party. Such excuse shall be continued so long
as the condition constituting force majeure continues and the nonperforming Party takes reasonable efforts to remove the condition. For purposes of this Agreement, force majeure shall include conditions beyond the reasonable control of the
nonperforming Party, including without limitation, an act of God or terrorism, involuntary compliance with any regulation, law or order of any government, war, civil commotion, epidemic, failure or default of public utilities or common carriers,
destruction of production facilities or materials by fire, earthquake, storm or like catastrophe. Notwithstanding the foregoing, a Party shall not be excused from making payments owed hereunder because of a force majeure affecting such Party. If a
force majeure persists for more than ninety (90) days, then the Parties will discuss in good faith the modification of the Parties’ obligations under this Agreement in order to mitigate the delays caused by such force majeure. 

11.3        Notices. Any notice required or permitted to be given. under
this Agreement shall be in writing, shall specifically refer to this Agreement, and shall be addressed to the appropriate Party at the address specified below or such other address as may be specified by such Party in writing in accordance with this
Section 11.3, and shall be deemed to have been given for all purposes (a) when received, if hand-delivered or sent by confirmed facsimile or a reputable courier service, or (b) five (5) business days after mailing, if mailed by first class certified
or registered airmail, postage prepaid, return receipt requested. 
  

			
	If to Licensor:	  	 t2cure GmbH
 Bettinastraße 35 –
37
 60325 Frankfurt am Main
 Germany

		
		  	 Attention: Petra Rück
 Fax: +49 - 69 - 75
61 46 87 9

		
	If to Licensee:	  	 miRagen Therapeutics, Inc.
 6200 Lookout Road,
Suite 100
 Boulder, CO 80301
 USA

Attention: William Marshall
 Fax: +1 – 303 531
5094

  
 22. 

 11.4        No Strict
Construction; Headings. This Agreement has been prepared jointly and shall not be strictly construed against either Party. Ambiguities, if any, in this Agreement shall not be construed against any Party, irrespective of which Party may be deemed
to have authored the ambiguous provision. The headings of each Article and Section in this Agreement have been inserted for convenience of reference only and are not intended to limit or expand on the meaning of the language contained in the
particular Article or Section. 
 11.5        Assignment. Neither
Party may assign or transfer this Agreement or any rights or obligations hereunder without the prior written consent of the other, except that a Party may make such an assignment without the other Party’s consent (but immediate notification to
the other Party) to Affiliates or to a successor to substantially all of the business of such Party to which this Agreement relates (whether by merger, sale of stock, sale of assets or other transaction). Any permitted successor or assignee of
rights and/or obligations hereunder shall, in writing to the other Party, expressly assume performance of such rights and/or obligations. Any permitted assignment shall be binding on the successors of the assigning Party. Any assignment or attempted
assignment by either Party in violation of the terms of this Section 11.5 shall be null, void and of no legal effect. 

11.6        Performance by Affiliates. Each Party may discharge any
obligations and exercise any right hereunder through any of its Affiliates. Each Party hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and shall cause its Affiliates to comply with the
provisions of this Agreement in connection with such performance. 

11.7        Further Actions. Each Party agrees to execute, acknowledge
and deliver such further instruments, and to do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 

11.8        Severability. If any one or more of the provisions of this
Agreement is or becomes invalid or unenforceable, the provision shall be considered severed from this Agreement and shall not serve to invalidate any remaining provisions hereof. The Parties shall make a good faith effort to replace any invalid or
unenforceable provision with a valid and enforceable one such that the objectives contemplated by the Parties when entering this Agreement may be realized, 

11.9        No Waiver. Any delay in enforcing a Party’s rights
under this Agreement or any waiver as to a particular default or other matter shall not constitute a waiver of such Party’s rights to the future enforcement of its rights under this Agreement, except with respect to an express written and
signed waiver relating to a particular matter for a particular period of time. 

11.10      Independent Contractors. Each Party shall act solely as an independent
contractor, and nothing in this Agreement shall be construed to give either Party the power or authority to act for, bind, or commit the other Party in any way. Nothing herein shall be construed to create the relationship of partners, principal and
agent, or joint-venture partners between the Parties. 

  
 23. 

 11.11      English Language. This
Agreement was prepared in the English language, which language shall govern the interpretation of, and any dispute regarding, the terms of this Agreement. 

11.12      Counterparts. This Agreement may be executed in one (1) or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

  
 24. 

 IN WITNESS
WHEREOF, the Parties have executed this Agreement in duplicate originals by their duly authorized officers as of the Effective Date. 
  

							
	T2CURE GMBH	 	MIRAGEN THERAPEUTICS, INC.
		
	By:          /s/ Petra
Rück                                        
             	 	By:          /s/ William S.
Marshall                                       

		
	Name:     Dr. Petra
Rück                                        
            	 	Name:     William S.
Marshall                                        
    
		
	Title:       CEO                           
                                         
	 	Title:       President &
CEO                                         
       
	                15-Nov-2010	 	                22 November 2010

 Exhibit A 

miR-92 
 [*] SEQ ID [*] 

SEQ ID [*] 
 SEQ ID [*] 

SEQ ID [*] 
 SEQ ID [*] 

SEQ ID [*] 

  
 2. 

 Exhibit B 

Licensed Patents Existing as of the Effective Date 
  

					
	 	 	 
	
Country / Region
  
	  	 Filing Date

 
	  	
Official File Number
  

	 	 	 
	 [*]

 
	  	 [*]

 
	  	
[*]
  

	 	 	 
	 [*]

 
	  	 [*]

 
	  	
[*]
  

	 	 	 
	 [*]

 
	  	 [*]

 
	  	
[*]
  

	 	 	 
	 [*]

 
	  	 [*]

 
	  	
[*]
  

	 	 	 
	 [*]

 
	  	 [*]

 
	  	
[*]
  

	 	 	 
	 [*]

 
	  	 [*]

 
	  	
[*]
  

  
 3.

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