Document:

EX-10.18

 Exhibit 10.18 

CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS 

DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE 

OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND 

EXCHANGE COMMISSION. 
 CONFIDENTIAL

 EXECUTION VERSION 

COLLABORATIVE LICENSE AGREEMENT 

This Collaborative License Agreement (the “Agreement”) is entered into and made effective as of
August 23, 2013 (the “Effective Date”), by and between Ambrx, Inc., a Delaware corporation (“Ambrx”) located at 10975 North Torrey Pines Road, La Jolla, CA 92037, and The
California Institute for Biomedical Research, a nonprofit public benefit corporation (“Institute”) located at 11119 North Torrey Pines Road, La Jolla, CA with respect to the facts set forth below. Each of Ambrx and
Institute shall be called a “Party” and collectively the “Parties.” 
 RECITALS 

A. Ambrx is a biopharmaceutical company that has technology and expertise relating to the discovery and development using its proprietary
technology of certain therapeutic biologics and polypeptide drug conjugates. 
 B. Institute is engaged in research activities with the aim
of translating scientific discoveries and novel targets into therapeutics with proof of concept efficacy in relevant animal models. 
 C.
Institute and Ambrx desire to collaborate on Collaboration Research Projects (as defined below) to be conducted at the Institute to focus on novel molecular targets, polypeptide conjugates, and enabling technologies with a well-defined plan for
advancing certain Ambrx Technology (as defined below) to Proof-of-Concept Studies (as defined below), subject to the terms and conditions set forth herein. 

D. In connection with such Collaboration Research Projects, Ambrx desires to grant to Institute, and Institute wishes to acquire, a
non-exclusive research license to the Ambrx Technology in the Field and during the Research Program Term (each as defined below), subject to the terms and conditions set forth herein. 

E. In connection with such Collaboration Research Projects, Institute desires to grant to Ambrx, and Ambrx wishes to acquire, an exclusive
option to acquire a license to Inventions, Invention Patents, Institute Controlled IP and Information (each as defined below), subject to the terms and conditions set forth herein, and as summarized on Schedule C (attached hereto
and incorporated herein by reference). 
 F. In connection with the Grandfathered Research Projects (as defined below), and subject to the
Option (as defined below), Ambrx desires to grant to Institute, and Institute wishes to acquire, an exclusive option to acquire a license to Inventions, Invention Patents and Information, subject to the terms and conditions set forth herein, and as
summarized on Schedule C. 
 G. In connection with the Excluded Grandfathered Research Projects (as defined below and as
shown in Schedule A), Ambrx desires to grant to Institute, and Institute wishes to acquire, exclusive development and commercialization rights to inventions under such Excluded Grandfathered Research Projects and related Patents
and Information under such Excluded Grandfathered Research Projects, subject to the terms and conditions set forth herein. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, Ambrx
and Institute hereby agree as follows: 
  

	1.	Definitions. Capitalized terms shall have the meaning set forth below. 

  

	 	a.	“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 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, whether by the ownership of more than fifty percent (50%) of the voting stock of such entity, or by contract or otherwise. 

 

	 	b.	“Ambrx Change of Control” has the meaning set forth in Section 12.3. 

  

	 	c.	“Ambrx Know-How” means all Information Controlled as of the Effective Date or thereafter during the Research Program Term by Ambrx and that (i) is necessary for the evaluation, research
and/or development of Compounds in the Field, (ii) is Confidential Information at the time of its use, and (iii) is specifically directed to a Compound. Ambrx Know-How includes all chemical, structural, manufacturing process, biological,
pharmacological, toxicological, clinical, assay and other methods of screening, structure activity relationship information or other information that relates to a Compound (including its composition, formulation or manufacture). Ambrx Know-How shall
include Ambrx Technology Inventions and shall exclude rights under any Ambrx Patents and Ambrx’s interest in any Joint Patents. 

  

	 	d.	“Ambrx Materials” means all tangible materials in the possession and Control of Ambrx prior to or as of the Effective Date or thereafter during the Research Program Term and that (a) are
necessary for the evaluation, research and/or development of Compounds in the Field or (b) otherwise embody Ambrx Know-How. Ambrx Materials shall include cell lines (including research strains and production strains for the expression of
Compounds, and corresponding host or control strains, and cell banks thereof), DNA constructs, proteins, monoclonal antibodies and other materials necessary for the expression of Compounds, and tangible materials for use in assays necessary for the
characterization of Compounds. Ambrx Materials that were transferred to Institute prior to the Effective Date are listed on Exhibit A. In addition, Exhibit A sets forth Ambrx Materials that, as of the Effective Date, are
contemplated to be transferred to Institute pursuant to Approved Research Plans. 

  

	 	e.	“Ambrx Patents” means the Patents owned or Controlled by Ambrx during the term of this Agreement. 

  

	 	f.	“Ambrx Technology” means the Ambrx Patents, Ambrx Know-How and Ambrx Materials. 

  

	 	g.	 “Ambrx Technology Invention(s)” means any potentially patentable or patented invention conceived by or on behalf of one or
both Parties and/or its Affiliates, employees, agents or independent contractors in the course of conducting its or their activities under an Approved Research Plan, in each case directed Specifically to Ambrx Technology related to a) ReCode, b)
EuCode, or c) Linker Technology (Ambrx Technology directed Specifically to a), b), and c) collectively referred to as “Non-Natural Amino Acid Technology”), and shall include,

  
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without limitation, Joint Inventions, but shall specifically exclude Compound Inventions that are not directed Specifically to Non-Natural Amino Acid Technology. For purposes of this definition:
i) “ReCode” and “EuCode” mean the design, creation, modification and/or generation of Compounds through the incorporation, substitution or addition of one or more non-naturally encoded amino acids
(i.e., amino acids other than the 20 naturally-encoded amino acids) using orthogonal tRNA/aminoacyl-tRNA pairs, including non-naturally encoded amino acids providing one or more points of site-specific attachment for a drug, into the amino acid
sequence of the polypeptide comprising such Compounds; and ii) “Linker Technology” means any technology in which a functional group, such as, but not limited to, a chemical, carbohydrate or polypeptide, is used to link or
attach, by a covalent bond or otherwise, one or more drugs Specifically to a polypeptide synthesized using ReCode or EuCode to form a polypeptide drug conjugate. As used herein, “directed Specifically” shall
mean that the invention is a small molecule, protein, carbohydrate, nucleic acid, cell, vector, etc., that is specially adapted for use with a non-natural amino acid, and not more generally with natural amino acids or other substrates such as small
molecule ligands, proteins, carbohydrates or nucleic acids. 

  

	 	h.	“Approved Research Invention” means any potentially patentable or patented invention conceived by or on behalf of one or both Parties and/or its Affiliates, employees, agents or independent
contractors in the course of conducting its or their activities under an Approved Research Plan, other than a Compound Invention or an Ambrx Technology Invention. 

 

	 	i.	“Approved Research Plan(s)” means each of the Research Plans for the Grandfathered Research Projects and such other Research Plans approved by the JSC and Ambrx, in each case as set forth in
Section 4.2. 

  

	 	j.	“Calendar Year” means each successive period of twelve (12) months commencing on January 1 and ending on December 31. 

 

	 	k.	“Collaboration Research Project(s)” means pre-clinical lead generation research projects conducted pursuant to Approved Research Plans at the Facility using Ambrx Technology with Compounds for
the purpose of advancing such Compounds to Proof of Concept Studies. 

  

	 	l.	“Compound(s)” means any therapeutic composition of matter conceived and/or demonstrated to have utility or a new use under an Approved Research Plan. 

 

	 	m.	“Compound Invention(s)” means any potentially patentable or patented invention conceived by or on behalf of one or both Parties and/or its Affiliates, employees, agents or independent contractors
in the course of conducting its or their activities under an Approved Research Plan directed to a Compound and shall include, without limitation, Joint Inventions. 

 

	 	n.	“Confidential Information” means, with respect to a Party, and subject to Section 11, all non-public Information of such Party that is disclosed to the other Party under this
Agreement, which may include specifications, know-how, trade secrets, technical information, models, business information, inventions, discoveries, methods, procedures, formulae, protocols, techniques, data, and unpublished patent applications,
whether disclosed in oral, written, graphic, or electronic form. 

  
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	 	o.	“Control” or “Controlled” means, with respect to any material, Information, or intellectual property right, that a Party (i) owns such material, Information,
or intellectual property right, or (ii) has a license or right to use such material, information, or intellectual property right, in each case (i) or (ii) with the ability to grant to the other Party access, a right to use, or a
license, or a sublicense (as applicable) to such material, Information, or intellectual property right on the terms and conditions set forth herein, without violating the terms of any agreement or other arrangement with any Third Party in existence
as of the time such Party would first be required hereunder to grant the other Party such access, right to use or (sub)license. 

  

	 	p.	“Excluded Grandfathered Research Project(s)” means those pre-clinical lead generation research projects that have been conducted by Institute prior to the Effective Date, a listing of which is
attached hereto as Schedule A. 

  

	 	q.	“Excluded GRP Invention” has the meaning set forth in Section 6.3(a). 

  

	 	r.	“Facility” means 11119 North Torrey Pines Road, Suite 100, La Jolla, California 92037 or such other facility utilized by the Institute with the prior written consent of Ambrx. 

 

	 	s.	“Field” means evaluation, research and/or development (but only through the completion of Proof of Concept Studies) of Compounds for human use (for clarity, not for human development, for
other development activities occurring after completion of Proof of Concept Studies and/or for commercialization), unless otherwise agreed to in writing by both parties. 

 

	 	t.	“Grandfathered Research Projects” means those pre-clinical lead generation research projects that have been conducted by Institute prior to the Effective Date, a listing of which is attached
hereto as Schedule B. 

  

	 	u.	“Information” means any data, results, and information of any type whatsoever, in any tangible or intangible form, including 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, expertise, stability, technology, test data including
pharmacological, biological, chemical, biochemical, toxicological, and clinical test data, analytical and quality control data, stability data, studies and procedures. 

 

	 	v.	“Institute Controlled IP” has the meaning set forth in Section 4.1. 

  

	 	w.	“Institute Know-How” means all Information Controlled as of the Effective Date or thereafter during the term of this Agreement by Institute and that (i) is necessary for the evaluation,
research and/or development of Compounds in the Field; (ii) is Confidential Information at the time of its use; and (iii) is specifically directed to a Compound. Institute Know-How includes all chemical, structural, manufacturing process,
biological, pharmacological, toxicological, clinical, assay and other methods of screening, structure activity relationship information or other information that relate to a Compound (including its composition, formulation or manufacture). Institute
Know-How shall exclude rights under any Institute Patents and Institute’s interest in any Joint Patents. 

  

	 	x.	 “Institute Patents” means all Patents Controlled by Institute with claims covering
(i)

  
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Institute Know-How, (ii) a Compound Invention, or (iii) a Joint Invention. 

  

	 	y.	“Institute Proposal” has the meaning set forth in Section 6.2(a). 

  

	 	z.	“Institute Technology” means the Institute Patents and Institute Know-How. 

  

	 	aa.	“Invention(s)” means any (i) Compound Invention, (ii) Ambrx Technology Invention or (iii) Approved Research Invention. 

 

	 	bb.	“Invention Disclosure” means a disclosure of an Invention, including results from the relevant completed Proof of Concept Study and related Information. 

 

	 	cc.	“Invention Patents” means a Patent that claims an Invention. 

  

	 	dd.	“Joint Inventions” has the meaning set forth in Section 8.1. 

  

	 	ee.	“Joint Steering Committee” or “JSC” has the meaning set forth in Section 2.1. 

 

	 	ff.	“Licensed Invention” means any Invention (i) licensed by Ambrx pursuant to the exercise of an Option hereunder or (ii) licensed by Institute pursuant to an Institute Proposal.

  

	 	gg.	“Licensed Product” means any product or its manufacture, use or sale that is covered by a Valid Claim of an Invention Patent(s) (i) licensed by Ambrx pursuant to the exercise of an Option
hereunder or (ii) licensed by Institute pursuant to an Institute Proposal. 

  

	 	hh.	“Net Sales” means the gross amount invoiced by Ambrx in connection with sales of Licensed Products by Ambrx or its Affiliates to Third Parties (net of any inventory management fees or similar
fees based on or reasonably allocable to the sale of Licensed Products), less the following deductions to the extent specifically related to the Licensed Products: i) trade, quantity and cash discounts; ii) retroactive price reductions that are
actually allowed or granted; iii) returns, rebates, chargebacks and other similar fees and allowances; iv) import, export, excise, sales, value-added, consumption taxes, duties or other taxes and customs duties; v) costs of insurance, freight,
shipping, packing, and other transportation costs incurred in shipping Licensed Product to such Third Party to the extent not reimbursed by such Third Party; vi) credits or allowances on account of price adjustments, recalls, claims, damaged goods,
rejections or actual returns and amounts written off by reason of uncollectible debt; vii) deductions to gross invoice prices of Licensed Products imposed by regulatory authorities or other governmental entities; viii) sales commissions, distributor
fees and other similar fees paid to Third Party distributors and/or selling agents; and ix) the standard inventory cost of devices or delivery systems used for dispensing or administering or delivering Licensed Product. 

 

	 	ii.	 “Net Sublicense Revenue” means, as to a Party, (i) all cash payments, the cash amounts received by Ambrx for any equity
consideration (less the fair market value of such equity consideration), the cash amounts received by Institute for funding of its activities and forgivable loans (to the extent actually forgiven), in each case, received by a Party or its Affiliates
in consideration for a Sublicense, including any upfront payments, license maintenance fees, milestone payments, royalties or the like and (ii) Sublicensee equity received by a Party or its Affiliates in consideration for a Sublicense (to the
extent 

  
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transferable, provided that to the extent such equity is not transferable, such equity will be transferred to the other Party at the time it becomes transferable) less
(iii) any license or intellectual property payments or fees owed or paid by a Party to Third Parties for the intellectual property rights relating to research, development or commercialization of a Licensed Product (including pursuant
to the applicable Approved Research Plan under the applicable Collaboration Research Project), including, without limitation, pursuant to any Third Party in-license agreement. Net Sublicense Revenue excludes: (a) amounts paid by such
Sublicensee as bona fide reimbursement for, or payment of, research and development costs; (b) bona fide, non-forgivable loans (and forgivable loans unless and until forgiven); (c) amounts paid by such Sublicensee for the supply to such
Sublicensee of Licensed Products or other tangible materials, or that are otherwise paid in reimbursement of costs or expenditures on behalf of such Sublicensee, whether incurred before or after the date of the Sublicense; and (d) withholding
taxes or other amounts actually withheld from the amounts received by a Party. It is understood that Net Sublicense Revenue shall not include amounts received in connection with a merger, consolidation or sale of all or substantially all of the
business or assets of Ambrx (including the business or assets of Ambrx to which this Agreement relates). 

  

	 	jj.	“Option” shall have the meaning set forth in Section 5.1(a). 

  

	 	kk.	“Patent” means (i) all patents and patent applications, including provisional patent applications, (ii) all patent applications filed either from such patents, patent applications or
provisional applications or from an application claiming priority from any of these, including divisionals, continuations, continuations-in-part, converted provisionals, and continued prosecution applications, (iii) any and all patents that
have issued or in the future issue from the foregoing patent applications in (i) and (ii), including utility models, petty patents and design patents and certificates of invention, (iv) any and all extensions or restorations by existing or
future extension or restoration mechanisms, including adjustments, revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing patents or patent applications in (i),
(ii) and (iii), and (v) any similar rights, including so-called pipeline protection, or any importation, revalidation, confirmation or introduction patent or registration patent or patents of addition to any of such foregoing patent
applications and patents. 

  

	 	ll.	“Patent Prosecution Costs” means the direct out-of-pocket costs (including the reasonable fees (based on customary hourly rates) and expenses incurred to outside counsel and other Third Parties,
including filing, prosecution and maintenance fees incurred to governmental authorities) recorded as an expense by a Party or any of its Affiliates (in accordance with GAAP and its customary accounting practices) after the Effective Date and during
the term of this Agreement and pursuant to this Agreement, in connection with the Prosecution of Invention Patents, including costs of Invention Patent interference, appeal, opposition, reissue, reexamination, revocation, petitions or other
administrative proceedings with respect to Invention Patents and filing and registration fees. 

  

	 	mm.	“Proof of Concept Studies” means the mutually agreed pre-clinical trials under an Approved Research Plan occurring in animals with the goal of supporting the submission of an Invention Disclosure
to Ambrx as set forth in Section 4.5. 

  

	 	nn.	“Prosecution” and “Prosecute” have the meaning set forth in Section 8.2(a). 

  
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	 	oo.	“Research Plan” has the meaning set forth in Section 4.1. 

  

	 	pp.	“Research Plan FTEs” means the equivalent of the work of one appropriately qualified scientific employee of Institute working on a full-time basis in performing work in support of an Approved
Research Plan based on a twelve (12) month period (consisting of at least a total of one thousand six hundred eighty (1,680) hours per year of dedicated effort). 

 

	 	qq.	“Research Program Term” has the meaning set forth in Section 3.2. 

  

	 	rr.	[***] means [***], or any successor entity. 

  

	 	ss.	“Sublicense” means the grant to a Sublicensee of a sublicense under a Licensed Invention or Licensed Product (including any extensions, amendments and restatements thereof), excluding a
sublicense related to the conduct of clinical trials for a Licensed Product or the manufacture of a Licensed Product. 

  

	 	tt.	“Sublicensee” means a Third Party to whom (i) Ambrx, an Affiliate of Ambrx, or another Sublicensee grants a Sublicense or (ii) Institute, an Affiliate of Institute, or another
Sublicensee grants a Sublicense. 

  

	 	uu.	“Third Party(ies)” means an entity other than Ambrx or its Affiliates, and Institute and its Affiliates. 

  

	 	vv.	“Third Party Costs” means the out-of-pocket costs and expenses incurred or accrued by Institute with respect to payments made by Institute to Third Parties in conducting activities under an
Approved Research Plan, and in accordance with the budget for such Third Party Costs as agreed to by the JSC and set forth in the Approved Research Plan. Third Party Costs may include, for example, Research Plan-specific animals, but shall not
include routine laboratory supplies. 

  

	 	ww.	“Valid Claim” means either (a) a claim of an issued and unexpired Invention Patent which has not been held permanently revoked, unenforceable or invalid by a decision of a court or other
governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal and that is not admitted to be invalid or unenforceable through reissue, disclaimer or otherwise (i.e., only to the extent the subject
matter is disclaimed or is sought to be deleted or amended through reissue), or (b) a claim of a pending Invention Patent application that has not been abandoned, finally rejected or expired without the possibility of appeal or refiling,
provided, however, that Valid Claim will exclude any such pending claim in an application that has not been granted within the later of (A) seven (7) years following the earliest non-provisional priority filing date for such
application and (B) five (5) years after receipt of the first office action in response to such application, unless and until such claim is granted. 

  
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	2.	Governance of the Collaboration Research Projects 

 2.1 Establishment of the
JSC. Within thirty (30) days after the Effective Date, the Parties will establish a joint steering committee with the roles set forth in Section 2.3 below (the “Joint Steering Committee”
or “JSC”). The JSC shall hold its first meeting promptly following its establishment and will review the status of the Grandfathered Research Projects. 

2.2 Membership of the JSC. The JSC will consist of three (3) individuals, one appointed by the Chief Executive Officer of
Ambrx (or if no such individual exists, appointed by the action of the Ambrx board of directors), one appointed by the Institute and one appointed by the mutual agreement of the Parties which individual shall be unaffiliated with the Institute or
Ambrx. Each Party may at any time appoint a different JSC representative by written notice to the other Party; however, the unaffiliated representative must be appointed by unanimous agreement of Ambrx and Institute. The initial Ambrx representative
shall be Ho Sung Cho, the initial Institute representative shall be Peter Schultz, Ph.D. (“Schultz”) and the initial unaffiliated representative shall be [***], Ph.D. The JSC shall be chaired by the Institute representative
(initially, Schultz), who will be responsible for calling meetings and preparing and circulating an agenda in advance of each meeting, provided that the chairperson will call a meeting of the JSC promptly upon the reasonable written request
of Ambrx to convene such a meeting. 
 2.3 Role of the JSC. The JSC will be responsible for oversight of the Collaboration
Research Projects, including, but not limited to, (a) approving Research Plans for all Collaboration Research Projects prior to their submission to Ambrx pursuant to Section 4.2, (b) approving day-to-day or tactical
performance of the research activities that require changes and updates to Approved Research Plans, (c) monitoring, reviewing and recording the progress of the Collaboration Research Projects, and (d) setting, and monitoring the spending
against, the budget for Research Project costs, as set forth in an Approved Research Plan. 
 2.4 JSC Meetings. The JSC will
hold meetings at such times and places as Ambrx and Institute may determine; provided, however, that the JSC will meet at least once every six months during the term of this Agreement. The meetings of the JSC need not be in person and may be
by telephone or any other method determined by the JSC. Each Party will bear its own costs associated with attending such meetings; provided, however, that the costs associated with the unaffiliated JSC member shall be borne equally by
Ambrx and Institute. 
 2.5 Decision-Making by the JSC. Decisions by the JSC shall be made by the agreement of at least two
(2) of the three (3) members of the JSC. 
 2.6 Limitations on Authority of the JSC. The JSC will have solely the
roles and responsibilities assigned to it in this Section 2. The JSC will have no authority to amend, modify or waive compliance with this Agreement. In addition, the JSC will have no authority to amend, modify or limit
Ambrx’s determination with respect to Research Plans (as set forth in Section 4.2(b) below). The JSC shall not have the authority to obligate Ambrx to incur expenses or allocate resources to any Collaboration Research
Project. 

  
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	3.	License Terms and Conditions 

 3.1 Grant of Non-Exclusive License to
Institute. Subject to the terms and conditions of this Agreement, Ambrx hereby grants to Institute a non-exclusive research license to Ambrx Know-How and to Ambrx Materials and under Ambrx Patent Rights to perform activities under Approved
Research Plans in the Field during the Research Program Term. The non-exclusive research license granted under this Agreement may only be utilized at the Facility and may only be utilized in furtherance of a Collaboration Research Project, as set
forth in an Approved Research Plan. Notwithstanding anything to the contrary, the research license granted pursuant to this Section 3.1 with respect to “activities under Approved Research Plans” shall not include
the right to engineer, reverse engineer, extract or modify the Ambrx Technology except to the extent as may be expressly set forth in and conducted under an Approved Research Plan. 

3.2 Research Program Term. The term pursuant to which Institute may exercise the research license granted under
Section 3.1 (the “Research Program Term”) shall begin on the Effective Date and end eighteen (18) months thereafter (subject to extension or termination as described below). The Research Program
Term shall terminate: (i) if this Agreement is terminated by Ambrx under Section 12.2 or Section 12.3, on the effective date of such termination; or (ii) pursuant to Section 4.4(b).
In addition, the Research Program Term may be extended upon mutual agreement of the Parties following receipt of written notice from a Party of its desire to extend the Research Program Term for a mutually agreed upon period of time, such notice to
be given at least ninety (90) days prior to the termination of the then-existing Research Program Term. 
 3.3 No Rights to
Sublicense. The non-exclusive research license granted under Section 3.1 may not be sublicensed, assigned or otherwise transferred by Institute without the prior written consent of Ambrx. 

3.4 Material Transfer. 
  

	 	a.	Ambrx may provide Institute with Ambrx Materials pursuant to an Approved Research Plan. 

  

	 	b.	If Institute desires to acquire Ambrx Materials other than in connection with an Approved Research Plan, it must submit a written request which includes the specific Ambrx Materials requested and their intended use,
which request may be granted or denied in the sole discretion of the Chief Executive Officer of Ambrx. Any such request which is granted must be in the form of written permission from the Chief Executive Officer of Ambrx for it to be effective. For
clarity, Ambrx may provide Institute with Ambrx Materials in its sole discretion if requested for a purpose other than in connection with an Approved Research Plan. 

 

	 	c.	Institute will use the Ambrx Materials solely in the Field at the Facility and will not distribute, release or transfer the Ambrx Materials to any Third Party (including to anyone who is not an employee of Institute) or
to any location other than the Facility. Institute represents that all employees to whom the Ambrx Materials are distributed, released or transferred are bound by a written agreement to use the Ambrx Materials only as expressly permitted by this
Agreement, and, by assignment obligations as are appropriate to effect the ownership provisions of this Agreement. 

  

	 	d.	 Institute recognizes that the Ambrx Materials are experimental in nature and that they are being provided “as is”. AMBRX MAKES NO WARRANTIES
OF ANY KIND, EITHER 

  
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EXPRESS OR IMPLIED, WITH RESPECT TO THE AMBRX MATERIALS AND EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR USE. 

 

	 	e.	At the request of Ambrx, Institute will return or destroy any Ambrx Materials in its possession. 

3.5 Grant of Licenses to Ambrx. Institute hereby grants to Ambrx the following licenses: 

 

	 	a.	a perpetual, irrevocable, worldwide, non-exclusive license for internal research purposes only under (i) Compound Inventions, (ii) Invention Patents with claims covering Compound Inventions, and
(iii) Institute Technology, each with no right to grant a Sublicense, except that internal research shall include the right to Sublicense to bona fide collaborators and contractors solely for use in a research collaboration (which, for the
avoidance of doubt, shall not include any right to conduct human clinical trials); 

  

	 	b.	a perpetual, irrevocable, worldwide, non-exclusive license for internal research purposes only under (i) Approved Research Inventions and (ii) Invention Patents with claims covering such Approved Research
Inventions, each with no right to grant a Sublicense, except that internal research shall include the right to Sublicense to bona fide collaborators and contractors solely for use in a research collaboration (which, for the avoidance of doubt, shall
not include any right to conduct human clinical trials); and 

  

	 	c.	a perpetual, irrevocable, worldwide, exclusive license, with the right to grant a Sublicense, for all uses under (i) Ambrx Technology Inventions and (ii) Invention Patents with claims covering Ambrx Technology
Inventions, but excluding Compound Inventions and Invention Patents with claims covering Compound Inventions. 

3.6 [***] License Agreement with Institute. Prior to the Effective Date, Institute entered into an
agreement with [***] (“[***] Agreement”) that permits Institute to grant to Ambrx an exclusive worldwide license to research, develop, commercialize and further sublicense Know-How and Patents covering each of the
Grandfathered Research Projects without the payment by Ambrx directly to [***] of any consideration for such exclusive license (it being understood that Institute will share with [***] a portion of any revenues it receives from Ambrx under this
Agreement). A complete, unredacted copy of the [***] Agreement has been provided to Ambrx’s counsel prior to the Effective Date. One or more of the Grandfathered Research Projects may be
included as a proposed Collaboration Research Project under this Agreement, subject to compliance with Article 4. 

3.7 Rights to Linker Technology. It is understood and agreed by the Parties that each Party shall be free to
exploit, without obligation to any other Party, any Linker Technology that is not included within the definition of an Ambrx Technology Invention and is not otherwise proprietary to the other Party (for example, included within the other
Party’s know-how or patent rights that are not licensed under or pursuant to this Agreement). 
 3.8 Reservation of
Rights. Except for the rights expressly granted under this Agreement, no right, title, or interest of any nature whatsoever is granted whether by implication, estoppel, reliance, or 

  
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Page 10 

 
otherwise, by a Party to the other Party. All rights with respect to Information, Patents or other intellectual property rights that are not specifically granted herein are reserved to the owner
thereof. 
  

	4.	Collaboration Research Projects 

 4.1 Research Plans. Each Collaboration
Research Project will be carried out in accordance with a written research plan (each, a “Research Plan”), prepared by Institute or Ambrx and submitted to the JSC for its initial review and approval and then submitted
to Ambrx for its review and approval prior to initiation of the applicable Collaboration Research Project; provided, that a Research Plan for each Grandfathered Research Project will be presented by Institute for consideration by the JSC at
its first scheduled meeting and thereafter by Ambrx as set forth in Section 4.2. Each Research Plan will provide details for the applicable Collaboration Research Project related to (i) background of such Collaboration
Research Project, (ii) the proposed scientific approach to be used in such Collaboration Research Project, (iii) target disease and target Compound profile, (iv) the scope and nature of the activities to be pursued in such
Collaboration Research Project (including the number of FTEs to be allocated by Institute), (v) the Ambrx Technology to be used in such Collaboration Research Project, (vi) the Institute Technology or other Institute Controlled
intellectual property to be used in such Collaboration Research Project (the “Institute Controlled IP”), (vii) any Third Party intellectual property to be used in such Collaboration Research Project and (viii) a
mutually acceptable Proof of Concept Study for such Collaboration Research Project based on the target compound profile. Each Research Plan will also provide sufficient detail with respect to the contemplated activities to be performed, the
projected timelines and budget to permit the JSC and Ambrx to analyze the proposed Collaboration Research Project. Each Research Plan will also set forth minimum performance criteria for the applicable Collaboration Research Project. To ensure the
intent of the Parties hereunder with respect to ownership of Inventions, without the prior written consent of Ambrx and Institute, a) no Research Plan shall provide for Third Party funding of Research Plan activities, and b) no Third Party
intellectual property shall be used in any Research Plan activities. 
 4.2 Approval of Research Plans. 

 

	 	a.	The Research Plans for the Grandfathered Research Projects will be presented by Institute for consideration by the JSC at its first scheduled meeting. The JSC shall promptly approve or reject Research Plans as set forth
in Section 2.3(a). In addition, the JSC shall approve or reject any day-to-day or tactical performance of the research activities that require changes or updates to each Approved Research Plan as set forth in
Section 2.3(b). 

  

	 	b.	 Institute shall provide to Ambrx, within thirty (30) days following the approval of the applicable Research Plan by the JSC, such JSC-approved
Research Plan, including the identification of any Institute Controlled IP or Third Party Controlled intellectual property to be used in the Research Plan. Ambrx shall have thirty (30) days following receipt of such Research Plan to review such
Research Plan and shall have the right to reject such Research Plan or withhold access to the Ambrx Technology proposed to be used in such Research Plan if: (i) Ambrx reasonably determines the applicable Proof of Concept Study is inappropriate
for the proposed indication listed in the Research Plan when compared against other research projects or programs for the same or similar indications; (ii) Ambrx reasonably determines the Research Plan and associated Collaboration Research
Project is competitive with current or anticipated Ambrx projects (whether conducted or to be conducted on behalf of itself or a Third Party); or (iii) the Ambrx CEO, or in the absence of a CEO, a majority of the Ambrx board of directors
(excluding any member of the Ambrx board of directors having a conflict of interest with respect to such determination), determines to reject such Research Plan or 

  
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withhold access to the applicable Ambrx Technology, which the CEO (or Ambrx board of directors, as applicable) may determine in his/her (or its) sole discretion. A determination by Ambrx that the
Research Plan falls within (i), (ii) or (iii) above and whether Ambrx is rejecting the Research Plan in its entirety (in which case, for clarity, the license grant under Section 3.1 shall not be applicable to such
Research Plan and Institute shall not use any Ambrx funding provided hereunder in connection with further activities on such rejected Research Plan) or with respect to specified Ambrx Technology (in which case, for clarity, such Ambrx Technology
shall not be included in the license grant under Section 3.1 for the associated Research Plan) shall be provided in writing to Institute within the thirty (30)-day Ambrx review period and shall include such information to
substantiate the determination as is reasonably necessary. 

  

	 	c.	If Ambrx rejects the Research Plan with respect to specified Ambrx Technology (and does not reject the Research Plan in its entirety), the Research Plan shall constitute an “Approved Research
Plan” in all aspects other than the Ambrx Technology rejected pursuant to Section 4.2(b)(iii). 

4.3 Amendment of Approved Research Plans. An Approved Research Plan may only be amended by following the
procedure set forth in Section 4.2 with respect to the proposed changes and/or updates, unless such proposed changes and/or updates are simply day-to-day or tactical changes or updates in which case the JSC may approve
them. 
 4.4 Conduct of Collaboration Research Projects. 

 

	 	a.	The Parties intend that one or more of the Collaboration Research Projects are to be initiated on or about thirty (30) days following the first meeting of the JSC, and that multiple Collaboration Research Projects
will be ongoing at any given time during the Research Program Term. 

  

	 	b.	Institute agrees that its activities under the Collaboration Research Projects shall be conducted by or under the direct supervision of Peter Schultz, Ph.D. (“Schultz”). In the event that
Schultz leaves Institute, or terminates his involvement with the Institute or a particular Collaboration Research Project, Institute shall promptly notify Ambrx of such event. Thereafter Ambrx shall have a right to immediately terminate the Research
Program Term upon delivery to Institute of written notice of intent to terminate pursuant to this Section 4.4(b), which notice must be delivered to Institute not more than ninety (90) days after receipt by Ambrx of
Institute’s notification. 

  

	 	c.	Institute shall perform, and shall use reasonable efforts to ensure that its employees perform, its activities with respect to the Collaboration Research Projects in good scientific manner, and in compliance in all
material respects with the requirements of applicable law. Institute shall commit sufficient Research Plan FTEs to each Collaboration Research Project to permit the timely completion of each Collaboration Research Project as set forth in the
applicable Approved Research Plan. 

  

	 	d.	Institute may not retain Third Parties (including, but not limited to, consultants or agents) to perform any activities for a Collaboration Research Project without the prior written consent of Ambrx. 

  
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	 	e.	Upon the written request of the Institute, Ambrx (directly or indirectly) may in its sole discretion, (i) with respect to an Approved Research Plan, (A) assist the Institute in certain activities (specifically
for the advancement of the applicable Collaboration Research Project up to the applicable Proof of Concept Study (by way of example, but not limitation, activities such as protein production, purification and analytics)); (B) validate, consider
and develop Inventions after the applicable Proof of Concept Study; (C) assist the Institute in efforts to generate stable cell lines based on Ambrx Materials; or (ii) with respect to an approved Institute Proposal, assist the Institute in
connection with its activities under such Institute Proposal. The fully burdened costs associated with Ambrx activities under subsections (i)(A), (i)(B) and (i)(C) incurred following the Effective Date will be borne entirely by Ambrx. Institute will
reimburse Ambrx for its then-current fully-burdened FTE rate in connection with Ambrx activities requested by Institute under subsection (ii). It is acknowledged and agreed by the Parties that any assistance provided by Ambrx to Institute pursuant
to this Section 4.4(e) involves intensive activities and in the event of a high workload at Ambrx, Ambrx shall retain sole discretion to prioritize projects accordingly and may determine to discontinue any assistance under this
Section 4.4(e) or to not initiate any such assistance. 

 4.5 Invention Disclosures;
Joint Inventions; Approved Research Inventions. 
  

	 	a.	As soon as reasonably possible following the completion of the related Proof of Concept Study, but in no event later than thirty (30) days thereafter, Institute shall provide a written Invention Disclosure
describing all Inventions related to the Collaboration Research Project associated with the Proof of Concept Study to Ambrx. Any such Invention Disclosure shall contain sufficient detail (as it is available to Institute) to enable Ambrx to evaluate
the advisability of exercising the Option with respect to the related Inventions and to comply with the terms of the license granted to it under Institute Technology pursuant to Section 3.5(a)(iii). 

 

	 	b.	As soon as reasonably possible, either upon conception or reduction to practice, as the case may be, of each Joint Invention, Ambrx shall disclose the same in writing to Institute. Such disclosure shall contain
sufficient detail to enable Institute to evaluate whether such Invention is, in fact, within the definition of a Joint Invention. If Institute, in the exercise of its good faith discretion, believes that all or some of such Information as so
described by Ambrx does not fall within the definition of a Joint Invention, then Institute shall deliver to Ambrx a written notice identifying the Invention(s) which Institute does not believe are Joint Invention(s) within thirty (30) days of
receipt of the Invention Disclosure from Ambrx. Failure to deliver such a written notice within the thirty (30)-day period shall be deemed to be an acknowledgement by Institute that such Invention(s) is a Joint Invention(s). Any dispute related to
whether an Invention constitutes Joint Invention(s) shall be resolved as set forth in Sections 14.2, 14.3 and 14.4. 

 

	 	c.	 If Ambrx decides to not exercise the Option for the exclusive license under Institute’s ownership interest in an Invention Patent for a Joint
Invention, then (i) both Institute and Ambrx shall jointly own such Invention Patent(s); and (ii) notwithstanding the foregoing, Institute and Ambrx hereby covenant and agree that, unless the other Party consents in writing, they each
shall practice such Invention Patent solely in the Field and neither shall license or Sublicense rights to any such Invention Patent without the other Party’s prior written consent (unless Ambrx has previously exercised an Option for such
Invention Patent). 

  
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Except as set forth in this Section 4.5(c), Ambrx shall be the only Party that may grant a commercial license or Sublicense to any Invention Patent for a Joint Invention to a
Third Party, and only pursuant to the exclusive license granted to Ambrx under Section 3.5(c) or following the exercise of the Option hereunder. Joint ownership of a Joint Invention shall not include a license grant of any
related or underlying technology or Patents, unless specifically set forth in Section 3.5(c) or in a separate license agreement between the Parties. 

 

	5.	Option 

 5.1 Grant of Option. 

 

	 	a.	Subject to the terms of this Agreement, Institute hereby grants to Ambrx an exclusive option (each, an “Option”) to acquire (i) an exclusive worldwide license (or sublicense, as the
case may be) to Inventions and Invention Patents, with an exclusive right to grant Sublicenses, for all uses and (ii) a non-exclusive worldwide license (or sublicense, as the case may be) to related Information and Institute Controlled IP, with
a right to grant Sublicenses, for all uses. Each such license shall be to the Inventions, Invention Patents and Institute Controlled IP disclosed under the Invention Disclosures associated with a specific Collaboration Research Project, as more
particularly described in the Invention Disclosures (Section 4.5). Such Option shall be for the period (Section 5.2) and exercised (Section 5.3) as more particularly described
below. For clarity, Excluded GRP Inventions are excluded and shall not be subject to the Option described in this Article 5. 

5.2 Option Period. 
  

	 	a.	Subject to extension as set forth in Section 5.2(b), Ambrx shall have a period of one hundred eighty (180) days from the later of (i) delivery by Institute of a written Invention
Disclosure pursuant to Section 4.5(a) and (ii) receipt of a data package requested by Ambrx (within thirty (30) days of receipt of the Invention Disclosure) with respect to the Invention, containing all data relevant to
Ambrx’s decision to exercise the Option and reasonably available to Institute, including, without limitation, materials, assays, reagents and protocols that may reasonably be requested and Information from the related Proof of Concept Study
(each, as the same may be extended pursuant to Section 5.2(b), an “Option Period”) to consider and/or validate the Invention Data Packages which may include reasonably and promptly recapitulating the
experimental results using materials provided by the Institute or produced and characterized at Ambrx, in animal models conducted at Ambrx or under the direct supervision of an Ambrx scientist. The disclosures to be delivered to Ambrx under
(ii) above shall be referred to herein as “Invention Data Packages.” 

  

	 	b.	Ambrx is obligated to consider and/or validate three (3) Invention Data Packages in each Calendar Year (whether or not the Invention Data Package is new or carried-over from the prior Calendar Year). If Ambrx has
considered and validated three (3) Invention Data Packages disclosing Inventions in the applicable Calendar Year, the Option Period with respect to an additional Invention Data Package shall automatically be extended through the end of the
following Calendar Year (with multiple extensions of a single Option Period possible and with extensions beyond the Research Program Term and/or term of this Agreement possible). In addition, an Option Period may be extended upon mutual written
agreement of Institute and Ambrx. 

  
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 5.3 Exercise of Option. 

 

	 	a.	Ambrx shall deliver to Institute written notice (each, an “Option Notice”) within the Option Period specifying the particular Invention, Invention Patent and related Information, if any,
described in the applicable Invention Disclosure and Invention Data Package and the Institute Controlled IP associated with such Invention Data Package (collectively, the “Option IP”), and shall state whether Ambrx is
exercising the Option or not with respect to the particular Option IP. 

  

	 	b.	If Ambrx determines to exercise an Option with respect to particular Option IP, Ambrx shall have (i) a perpetual, irrevocable, exclusive (even as to Institute) license (or sublicense, as the case may be), with the
right to grant a Sublicense, under the particular Invention Patent(s), if any, to research, develop, make, have made, use, sell, offer for sale, export and import the applicable Licensed Products for all uses throughout the world; (ii) a
perpetual, irrevocable, non-exclusive license (or sublicense, as the case may be), with the right to grant a Sublicense, under Patents included within the Institute Controlled IP to research, develop, make, have made, use, sell, offer for sale,
export and import the applicable Licensed Products for all uses throughout the world; and (iii) a perpetual, irrevocable, non-exclusive license (or sublicense, as the case may be), with the right to grant a Sublicense, under Information
directly related to such Invention Patents and Know-How included within the Institute Controlled IP to research, develop, make, have made, use, sell, offer for sale, export and import the applicable Licensed Products for all uses throughout the
world. Ambrx shall commit to pursue or have pursued products or services covered by Invention Patents licensed to Ambrx using commercially reasonable efforts, and the Parties shall, upon the exercise of an Option, develop reasonable and specific
milestones relevant to a Licensed Product(s), such milestones to be met by Ambrx, its Affiliates or its Sublicensee(s) to continue the license thereunder. Such milestones may include, for example, investment requirements and timelines for major
regulatory and commercialization milestones. In addition, if Ambrx determines to exercise an Option with respect to Option IP described in an applicable Invention Disclosure and Invention Data Package arising out of a Grandfathered Research Project,
Ambrx shall reimburse Institute the fully burdened expenses incurred by Institute for such Grandfathered Research Project from inception to date that the work plan for the Grandfathered Research Project was approved by Ambrx at an FTE rate of
$[***], provided such expenses don’t exceed [***] per project, within thirty (30) days of the exercise of such an Option. It is understood and agreed that following the exercise of an
Option hereunder, Ambrx (or its Sublicensees) shall be the exclusive Party to develop and/or commercialize the applicable Invention Patents and related Information, either itself or pursuant to a Sublicense. 

 

	 	c.	If Ambrx exercises an Option with respect to particular Option IP and subsequently or concurrently determines to Sublicense such Option IP, it shall deliver to Institute written notice of its determination to Sublicense
(each, a “Sublicense Notice”). 

  

	 	d.	 If Ambrx determines not to exercise an Option with respect to particular Option IP as set forth in the applicable Option Notice, the Option Notice
shall so state. For clarity, the license grant set forth in Section 3.1 shall not cover the particular Option IP for which Ambrx has 

  
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Page 15 

	 	
determined not to exercise its Option and Institute hereby covenants and agrees that no funding provided by Ambrx hereunder shall be used by Institute if it determines to further pursue such
rejected Option IP. Institute is free to pursue the rejected Option IP with non-Ambrx Technology and non-Ambrx Materials and its own funding. 

  

	6.	Ongoing Development of Inventions 

 6.1 Research and Development of Inventions by
Ambrx. Following exercise of the Option with respect to particular Invention Patent(s) and related Information, if any, Ambrx shall have exclusive control over the research, development and/or commercialization activities associated with
such Invention Patent(s), and shall be exclusively responsible for all associated research, development and commercialization expenses incurred by or on its behalf. In addition, following exercise of the Option with respect to particular Invention
Patent(s) and related Information, if any, Ambrx shall reimburse Institute for its Patent Prosecution Costs as set forth in Section 8.2(a). 

6.2 Research and Development of Inventions by Institute. If Institute desires to further develop or have developed an Invention,
then: 
  

	 	a.	If (i) the Option Period has expired and the Invention has not been exclusively licensed to Ambrx pursuant to Section 5 above or (ii) the Invention has been exclusively licensed to Ambrx,
and Ambrx (or any of its Affiliates) is not actively developing or is not actively out-licensing (or has not previously out-licensed) such Invention, the Institute may present Ambrx with a proposal for the ongoing development and commercialization
of such Invention (the “Institute Proposal”). Any such Institute Proposal shall contain such information as is available to Institute and reasonably necessary for Ambrx to evaluate the Institute Proposal, including,
without limitation, (w) an overview of the intended development activities, (x) the projected commercial opportunity, (y) activities that Institute would assign to Ambrx, if any, and (z) commercial terms commensurate with the
proposed development and commercialization. 

  

	 	b.	 Within sixty (60) days of receipt of all requested information related to the Institute Proposal, the CEO of Ambrx, or in the absence of a CEO, a
subcommittee of the Ambrx board of directors, to be chaired by a member of such subcommittee selected by a majority vote of disinterested members of the Ambrx board of directors (the “Ambrx Subcommittee”), shall review
and reasonably consider the Institute Proposal. If the Ambrx CEO or Ambrx Subcommittee desires to proceed with the Institute Proposal, it shall oversee the negotiation and documentation of a license agreement between Ambrx and Institute containing
mutually acceptable terms and conditions, including financial terms, which shall include, without limitation, (i) a prohibition on Institute commercializing the Invention in any manner other than by way of a Sublicense to a Third Party on
arms-length, commercially reasonable terms, (ii) Institute shall commit to pursue or have pursued products or services covered by Invention Patents licensed to Institute using commercially reasonable efforts, and (iii) the Parties shall
develop reasonable and specific milestones relevant to a Licensed Product(s), such milestones to be met by Institute’s Sublicensee(s) to continue the license thereunder. Such milestones may include, for example, reasonable investment
requirements and timelines for major regulatory and commercialization milestones. In addition, the licenses granted under such license agreement may not be practiced directly by Institute or any of its Affiliates and Institute may only commercialize
the Invention by way of a Sublicense to a Third Party on arms-length, commercially reasonable terms. It is the intent of the Parties that the review 

  
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by Ambrx and the negotiation and documentation of a license agreement take place within the sixty (60)-day period, unless mutually extended by the Parties. Once a license agreement between Ambrx
and Institute is negotiated, the determination to proceed with the Institute Proposal (or not) under such license agreement shall be made by the Ambrx CEO or Ambrx Subcommittee in his/its sole discretion. 

 

	 	c.	In the event that Ambrx determines not to proceed with an Institute Proposal, and the development of the relevant Invention would require a license from Ambrx with respect to Ambrx Technology, Institute may not develop
the relevant Invention beyond animal proof of concept studies or commercialize such Invention without any such required licenses from Ambrx with respect to the Ambrx Technology. In addition, Institute hereby covenants and agrees that no funding
provided by Ambrx hereunder shall be used by Institute if it determines to further pursue such rejected Institute Proposal. Institute is free to pursue the rejected Institute Proposal with non-Ambrx Technology and non-Ambrx Materials and its own
funding. 

 6.3 Research and Development Under Excluded Grandfathered Research Projects by Institute. 

 

	 	a.	 If, during the period beginning on the Effective Date and ending on the earlier of (a) the second anniversary of the Effective Date or
(b) the termination of this Agreement (the “Excluded GRP Invention Option Period”), Institute desires to develop in human clinical trials and/or thereafter commercialize the inventions consisting of therapeutic
compositions of matter for compounds demonstrated to have utility or a new use under an Excluded Grandfathered Research Project with respect to the applicable target studied under such Excluded Grandfathered Research Project (i.e., actually made and
tested under such Excluded Grandfathered Research Project) (with respect to each Excluded Grandfathered Research Project (e.g., target), the “Excluded GRP Inventions”), it shall provide written notice to Ambrx of such desire
which shall include the applicable target and compositions of matter information related to such Excluded GRP Inventions (each, an “Excluded GRP Invention Notice”). Upon Ambrx’s receipt of an Excluded GRP Invention
Notice prior to the expiration of the Excluded GRP Invention Option Period, Institute shall automatically, without any action on the part of Ambrx, be granted the following licenses: (i) a perpetual, irrevocable, worldwide, exclusive (even as
to Ambrx) license (or sublicense, as the case may be), with the right to grant a Sublicense, under Ambrx Patents, if any, with Valid Claims covering the Excluded GRP Inventions described in the applicable Excluded GRP Invention Notice to research,
develop, make, have made, use, sell, offer for sale, export and import such Excluded GRP Inventions for all uses; and (ii) a perpetual, irrevocable, worldwide, non-exclusive license (or sublicense, as the case may be), with the right to grant a
Sublicense, under Information directly related to such Ambrx Patents to research, develop, make, have made, use, sell, offer for sale, export and import such Excluded GRP Inventions for all uses. Upon the grant of the licenses under this
Section 6.3(a) Institute shall be the exclusive Party to develop and/or commercialize the Excluded GRP Inventions and solely by means of a Sublicense to a Third Party; provided that such Third Party Sublicensee may not be a
pharmaceutical company with headquarters in the People’s Republic of China, unless Ambrx has provided its prior written consent, which may be withheld in its sole discretion. The licenses granted under this Section 6.3(a) may
not be practiced directly by Institute or any of its Affiliates and Institute may only commercialize the Excluded GRP Inventions by way of a Sublicense to such a Third Party on arms-length, commercially reasonable terms. Institute shall ensure that
any such Excluded GRP Inventions licensed hereunder are pursued using 

  
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commercially reasonable efforts, and all rights to the licensed Excluded GRP Inventions shall revert to Institute in the event of the failure of a Third Party sublicensee to use commercially
reasonable efforts in the development and/or commercialization of the Excluded GRP Inventions (in addition to upon the occurrence of other agreed-upon termination events). The Parties shall develop reasonable and specific milestones relevant to the
Excluded GRP Inventions, such milestones to be met by Institute’s Sublicensee(s) to continue the license thereunder. Such milestones may include, for example, investment requirements and timelines for major regulatory and commercialization
milestones. Institute shall also pay to Ambrx [***] of any Net Sublicense Revenue as set forth in Section 7.2. The Parties shall negotiate in good faith and enter into a license
agreement setting forth the terms contained in this Section 6.3(a), and other customary terms and conditions. 

  

	 	b.	If Institute does not deliver one or more Excluded GRP Invention Notices prior to the expiration of the Excluded GRP Option Period, then all Excluded GRP Inventions under the Excluded Grandfathered Research Projects
shall automatically become an Invention and Institute shall promptly thereafter provide an Invention Disclosure to Ambrx for any such Invention. For clarity, if the Excluded GRP Option Period expires without the delivery of an Excluded GRP Invention
Notice, all Excluded GRP Inventions shall be subject to the Option process set forth in Section 5. 

  

	 	c.	If, however, Institute has delivered one or more Excluded GRP Invention Notices, then: (i) upon delivery of an Excluded GRP Invention Notice, any Excluded GRP Inventions for the target referenced in the Excluded
GRP Invention Notice but which have not been described in such Excluded GRP Invention Notice shall automatically become Inventions and Institute shall promptly after the delivery of the Excluded GRP Invention Notice provide Invention Disclosures to
Ambrx for any such Inventions not described; and (ii) on expiration of the Excluded GRP Option Period, any Excluded GRP Inventions not previously licensed to Institute under Section 6.3(a) shall automatically become
Inventions and Institute shall promptly after the expiration of the Excluded GRP Option Period provide Invention Disclosures to Ambrx for any such Inventions. For clarity, all Excluded GRP Inventions which have not been described in an Excluded GRP
Invention Notice or licensed to Institute under Section 6.3(a) shall be subject to the Option process set forth in Section 5. 

 

	7.	Payments 

 7.1 Research Program Costs. Within five
(5) days of the Effective Date, Ambrx will pay to Institute an amount equal to $283,870.97 as payment in advance for Institute’s activities pursuant to Approved Research Plans in the first partial calendar quarter following the Effective
Date. Thereafter during the Research Program Term, Ambrx will make quarterly payments in advance to Institute of Six Hundred Thousand Dollars ($600,000.00) on or before each October 1, January 1, April 1 and July 1 that
occurs during the Research Program Term in consideration of Institute’s activities pursuant to Approved Research Plans (each a “Research Funding Payment”); provided, however, the last payment made pursuant to this
Section 7.1 shall be pro-rated to take into account the number of days in the last partial calendar quarter included in the Research Program Term. 

  
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 7.2 Net Sublicense Revenue. 

 

	 	a.	Ambrx shall pay to Institute [***] of any Net Sublicense Revenue resulting from Sublicenses executed by Ambrx or its Affiliates. 

 

	 	b.	Institute shall pay to Ambrx [***] of any Net Sublicense Revenue resulting from Sublicenses executed by Institute or its Affiliates under the licenses granted to Institute under Section 6.3.

  

	 	c.	Any payments due under this Section 7.2 shall be made within ninety (90) days of receipt of the Net Sublicense Revenue by the applicable Party. 

7.3 Royalties. 
  

	 	a.	General. Subject to the other provisions of this Section 7.3 and the other provisions of this Agreement, in consideration of the licenses granted by Institute to Ambrx pursuant to its exercise
of the Option, if Ambrx (or its Affiliates) commercializes a Licensed Product without a Sublicensee, Ambrx shall pay to Institute royalties of [***] of Net Sales of such Licensed Product during the applicable Royalty Term (as defined in
subsection (c) below) for such Licensed Product. 

  

	 	b.	One Royalty. For clarity, only one royalty shall be due to Institute with respect to the same unit of Licensed Product, regardless of the number of Licensed Inventions contained therein. 

 

	 	c.	Royalty Term. Royalties payable by Ambrx to Institute under Section 7.3 shall be paid on an Licensed Product-by-Licensed Product and country-by-country basis until the later of
(i) 10 years after first commercial sale of the applicable Licensed Product in such country, and (ii) expiration in such country of the last Valid Claim of the last-to-expire Licensed Invention with claims that cover such Licensed Product
(the “Royalty Term”). Upon the expiration of the Royalty Term with respect to a Licensed Product in a country, Ambrx shall have a fully-paid-up perpetual license under Section 5.3(b) for the
making, using, selling, offering for sale and importing of such Licensed Product in such country. 

  

	 	d.	Royalty Payments and Reports. All amounts payable to Institute pursuant to Section 7.3 shall be paid within ninety (90) days after the end of the calendar quarter in which
the applicable Net Sales were invoiced. Each payment of royalties shall be accompanied by a royalty report providing a statement, on an Licensed Product-by-Licensed Product and country-by-country basis, of: (a) the amount of gross sales
invoiced during the applicable calendar quarter, (b) the amount of deductions from gross sales taken in calculating Net Sales during the applicable calendar quarter, (c) the amount of Net Sales during the applicable calendar quarter,
(d) a calculation of the amount of royalty payment due in U.S. dollars on such Net Sales for such calendar quarter, and (e) the amount of withholding taxes, if any, required by applicable law to be deducted with respect to such royalties.

 7.4 Miscellaneous Payment Terms. 

  
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	 	a.	Payment Method. All payments due under this Agreement to Institute shall be made by bank wire transfer in immediately available funds to an account designated by Institute. All payments hereunder shall be
made in U.S. dollars. 

  

	 	b.	Taxes. Institute will pay any and all taxes levied on account of all payments it receives under this Agreement. If laws or regulations require that taxes be withheld with respect to any payments by Ambrx
to Institute under this Agreement, Ambrx will: (i) deduct those taxes from the remittable payment, (ii) pay the taxes to the proper taxing authority, and (iii) send evidence of the obligation together with proof of tax payment to
Institute on a timely basis following that tax payment. Each Party agrees to cooperate with the other Party in claiming refunds or exemptions from such deductions or withholdings under any relevant agreement or treaty which is in effect. In
addition, the Parties shall cooperate in accordance with applicable law to minimize indirect taxes (such as value added tax, sales tax, consumption tax and other similar taxes) in connection with this Agreement. 

 

	 	c.	Foreign Exchange. Conversion of sales recorded in local currencies to U.S. dollars shall be performed in a manner consistent with Ambrx’s normal practices used to prepare its audited financial
statements for internal and external reporting purposes. 

  

	 	d.	Records. Ambrx shall keep, and shall cause its Affiliates and Sublicensees to keep, complete, true and accurate books of accounts and records, including gross amounts invoiced and any deductions thereto in
connection with calculation of Net Sales, sufficient to determine and establish the amounts payable under this Agreement, and compliance with the other terms and conditions of this Agreement. Such books and records shall be kept reasonably
accessible and shall be made available for inspection for a three (3) year period in accordance with Section 7.4(e) below. 

  

	 	e.	Inspection of Records. Upon reasonable prior notice, Ambrx shall permit an independent nationally recognized certified public accounting firm (subject to obligations of confidentiality to Ambrx), appointed
by Institute and reasonably acceptable to Ambrx, to inspect the audited financial records of Ambrx to the extent relating to payments to Institute; provided that such inspection shall not occur more often than once per Calendar Year, unless a
material error is discovered in such inspection in which case Institute shall have the right to conduct a more thorough inspection for such period. If Institute, after inspecting the audited financial records of Ambrx, discovers material errors,
then Ambrx shall permit an independent nationally recognized certified public accounting firm (subject to obligations of confidentiality to Ambrx), appointed by Institute and reasonably acceptable to the Ambrx, to inspect the books and records
described in Section 7.4(d); provided that such inspection shall not occur more often than once per Calendar Year, unless a material error is discovered in such inspection in which case Institute shall have the right
to conduct an additional audit for such period. Any inspection conducted under this Section 7.4(e) shall be at the expense of Institute, unless such inspection reveals any underpayment of the royalties due hereunder for the
audited period by at least [***] in which case the full costs of such inspection for such period shall be borne by Ambrx. Any underpayment shall be paid by Ambrx to Institute within forty-five
(45) days, and any overpayment shall be credited against future amounts due by Ambrx to Institute. 

  
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	8.	Intellectual Property Matters 

 8.1 Ownership. Subject to the licenses
granted hereunder, each Party will own all Inventions (and Patents that claim such Inventions) solely invented by or on behalf of it and/or its Affiliates and/or their respective employees, agents and independent contractors (as determined by US
patent law) in the course of conducting activities under the Collaboration Research Projects (collectively, “Sole Inventions”). Subject to the licenses granted hereunder, the Parties will jointly own all Inventions
(and Patents that claim such Joint Inventions) jointly invented by or on behalf of them and/or their respective Affiliates, employees, agents or independent contractors (as determined by US patent law) in the course of conducting activities under
the Collaboration Research Projects (collectively, “Joint Inventions”). Notwithstanding the foregoing, Institute shall, at Ambrx’s request, assign its entire right, title and interest in and to any Sole Invention
or Joint Invention that constitutes an Ambrx Technology Invention to Ambrx or Ambrx’s designee, and Institute hereby appoints Ambrx as its attorney in fact solely to make such assignments and authorizes Ambrx to make such assignments. In each
case, Institute shall execute and deliver to Ambrx a deed(s) of such assignment, in a mutually agreeable form, within thirty (30) days after the date the Invention Disclosure is provided hereunder. Ambrx shall be responsible for recording all
such assignments and Institute and its successors and assigns shall reasonably cooperate with Ambrx’s efforts to do so, including satisfying the assignment and recording requirements of relevant patent offices. 

8.2 Patent Prosecution and Maintenance. 
  

	 	a.	 Ambrx shall Prosecute all Invention Patents with claims covering Ambrx Technology Inventions throughout those jurisdictions that Ambrx and the
Institute determine to file Inventions Patents (collectively, the “Territory”). Ambrx shall bear 100% of the Patent Prosecution Costs for such Invention Patent(s). For all other Invention Patents, Institute shall, with
Ambrx’s participation, draft, file, prosecute and maintain (including any oppositions, interferences, reissue proceedings, reexaminations and post-grant proceedings) such Invention Patents (including those with claims covering any Joint
Invention) throughout the Territory (such activities, on behalf of Institute or Ambrx, with respect to Invention Patents being the “Prosecution”, with the term “Prosecute” having the corresponding
meaning). Such Prosecution shall be handled by outside counsel mutually agreed upon by the Parties that will jointly represent the Parties (the “Patent Firm”). Institute (a) shall keep Ambrx advised of the status
of the actual and prospective filings of Invention Patents; (b) upon Ambrx’s written request, shall provide advance copies of any papers related to the Prosecution of such Invention Patent filings; (c) shall give Ambrx an opportunity
to review the text of the application before filing, shall consult with Ambrx with respect thereto and shall incorporate Ambrx’s reasonable comments into any such Invention Patent filing; (d) shall supply Ambrx with a copy of the
application as filed, together with notice of its filing date and serial number; and (e) shall promptly give notice to Ambrx of the grant, lapse, revocation, surrender, invalidation or abandonment of any Invention Patent. Subject to
Section 8.2(b) and (c), and until the exercise of an Option by Ambrx, Institute shall bear one hundred percent (100%) of the Patent Prosecution Costs for such Invention Patents and shall have lead
responsibility and decision making control for such Prosecution, including all decisions related to whether to file and/or continue to pursue and/or maintain any such Invention Patents. Following the exercise of an Option by Ambrx, Ambrx shall bear
one hundred percent (100%) of the Patent Prosecution Costs for the applicable Invention Patent(s) and pay 100% of past expenses (upon presentation of reasonable supporting documentation), subject to offset and deduction, and shall have lead
responsibility and decision-making control for Prosecution of such Invention Patent(s). For clarity, each Party will bear its own 

  
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internal costs (i.e., those costs that are not Patent Prosecution Costs) with respect to its Prosecution activities for such Invention Patents. 

 

	 	b.	Cooperation; Sharing of Information. The Parties will keep each other informed with regard to Prosecution hereunder and will cooperate in the Prosecution of the Invention Patents in all respects. Each
Party will provide the other Party all reasonable assistance and cooperation in such Prosecution efforts, including providing any necessary powers of attorney, executing any other required documents or instruments for such Prosecution, and obtaining
the assistance and cooperation of any Third Party licensors, as necessary to Prosecute the Invention Patents. Each Party will provide the other Party with copies of any documents it receives or prepares in connection with such Prosecution and will
inform the other Party of the progress of it. 

  

	 	c.	Ambrx Right to Prosecute and Maintain. In the event that Institute elects not to Prosecute in any country any Invention Patent, Institute will give Ambrx at least thirty (30) days’ notice before
any relevant deadline and provide to Ambrx information it reasonably requests relating to the Invention Patent. Ambrx will then have the right to assume responsibility, using patent counsel of its choice, for the Prosecution of such Invention Patent
in such country. If Ambrx assumes responsibility for the Prosecution for any such Invention Patents as set forth above, then the Patent Prosecution Costs incurred by Ambrx in the course of such Prosecution will thereafter be borne by Ambrx, subject
to offset and deduction. 

  

	 	d.	Ambrx Right to Delegate. Ambrx may delegate its rights and responsibilities as to a particular Invention Patent to a Third Party, pursuant to an agreement with such Third Party. 

8.3 Infringement Actions. 
  

	 	a.	Infringement. The Parties will promptly notify each other of any actual, threatened, alleged or suspected infringement by a Third Party of the Invention Patents (an “Infringement”).
A notice under 42 U.S.C. 262(l) (however such section may be amended from time to time during the term of this Agreement) with respect to a Licensed Product will be deemed to describe an act of Infringement, regardless of its content. As permitted
by applicable law, each Party will promptly notify the other Party in writing of any such Infringement of which it becomes aware, and will provide evidence in such Party’s possession demonstrating such Infringement. In particular, each Party
will notify and provide the other Party with copies of any allegations of patent invalidity, unenforceability or non-infringement of any Invention Patents (including methods of use or manufacture thereof). Such notification and copies will be
provided by the Party receiving such certification to the other Party as soon as practicable and, unless prohibited by applicable law, at least within five (5) days after the receiving Party receives such certification. Such notification and
copies will be sent by facsimile and overnight courier to the Parties at the addresses specified in Section 14.11. 

  

	 	b.	 Ambrx Rights. Ambrx will have the first right, but not the obligation, to bring and control, at its expense, an appropriate suit or
other action before any government or private tribunal against any person or entity allegedly engaged in any Infringement (an “Infringement Action”) to remedy the Infringement (or to settle or otherwise secure the
abatement of such Infringement) of an Invention Patent for which Ambrx has exercised the Option pursuant to Section 5.3 or an Invention Patent with claims covering Ambrx Technology Inventions. The foregoing right of Ambrx
shall include the right to perform all actions of a reference product 

  
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sponsor set forth in 42 U.S.C. 262(l). Institute will have the right, at the reasonable expense of Ambrx, to be represented by counsel of its choice, in any Infringement Action with respect to an
Invention Patent for which Ambrx has exercised the Option pursuant to Section 5.3. At Ambrx’s request, Institute will join any Infringement Action as a party and will use commercially reasonable efforts to cause any
applicable Third Party to join such Infringement Action as a party (all at Ambrx’s expense) if doing so is necessary for the purposes of establishing standing or is otherwise required by applicable law to pursue such action. Institute will
provide to Ambrx reasonable assistance in such enforcement, at Ambrx’s request and expense, including joining such action as a party plaintiff if required by applicable law to pursue such action. Ambrx will keep Institute regularly informed of
the status and progress of such enforcement efforts, and will reasonably consider Institute’s comments on any such efforts. In any such action, Institute will not be named as the first party to a lawsuit. 

 

	 	c.	Settlement. Without the prior written consent of the other Party (not to be unreasonably withheld, conditioned or delayed), neither Party will settle any Infringement Action in any manner that would
adversely affect an Invention Patent, or that would limit or restrict the ability of a Party (or its Affiliates or Sublicensees, as applicable) to sell Licensed Products anywhere in the world; provided, however, Ambrx may settle any
Infringement Action related to an Invention Patent with claims covering an Ambrx Technology Invention in its sole discretion. 

  

	 	d.	Expenses and Recoveries. Ambrx will be solely responsible for any expenses incurred by either of the Parties as a result of an Infringement Action. If Ambrx recovers monetary damages from a Third Party in
such Infringement Action, such recovery will first be applied to all out-of-pocket costs and expenses incurred by the Parties in connection therewith, including attorneys’ fees. If such recovery is insufficient to cover all such costs and
expenses of both Parties, it will be shared pro-rata in proportion to the relative amount of such costs and expenses incurred by each Party. If after such reimbursement any funds remain from such damages, such remaining funds will be retained [***];
provided, however, Ambrx shall retain [***] of any remaining funds from an Infringement Action related to an Invention Patent with claims covering an Ambrx Technology Invention.

  

	 	e.	Institute Rights. In the event Ambrx does not elect to pursue an action pursuant to Section 8.3(b), Institute shall have the sole right to pursue infringement at its sole expense
other than any infringement of an Invention Patent with claims covering an Ambrx Technology Invention, and shall be entitled to any recovery therefrom. At Institute’s request, Ambrx will join any such Infringement Action as a party and will use
commercially reasonable efforts to cause any applicable Third Party to join such Infringement Action as a party (all at Institute’s expense) if doing so is necessary for the purposes of establishing standing or is otherwise required by
applicable law to pursue such action. Ambrx will provide to Institute reasonable assistance in such enforcement, at Institute’s request and expense, including joining such action as a party plaintiff if required by applicable law to pursue such
action. In any such action, Ambrx will not be named as the first party to a lawsuit. 

  
 ***Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

Page 23 

	9.	Additional Obligations 

 9.1 Institute Research Project Reports.
Institute shall deliver to Ambrx a report as to each Invention and the activities completed in the prior six (6) month period for each Collaboration Research Project (“Research Project Report”). Each Research Project
Report shall specify for each Collaboration Research Project (a) a detailed description of the research and development efforts undertaken by the Institute, (b) the current status of such efforts, (c) the estimated schedule and plan
for such future efforts, (d) the individual responsible for the Institute’s report, (e) all related Information, a detailed description of all procedures and the Ambrx Technology used and (f) such other matters as
Ambrx reasonably requests. The reports shall be delivered on or about January 1 and July 1 of each Calendar Year. In addition, Ambrx may request from time-to-time on thirty (30) days’ prior written notice, that the Parties meet
to discuss the progress and status of Collaboration Research Projects. In addition, Institute shall deliver to Ambrx off-cycle Research Project Reports upon the reasonable request of Ambrx, covering the period of time specified by Ambrx and
providing the information set forth above with respect to each Collaboration Research Project. All Information submitted to Ambrx by Institute under this Section 9.1 may be used by Ambrx pursuant to the licenses granted in
Section 3.5, and for the purpose of evaluating whether or not to exercise the Option to obtain the additional license pursuant to Section 5 hereof, as and when such Option is exercisable in accordance with the
terms hereof. Ambrx shall not, during the term of this Agreement or after the termination hereof, disclose any of the Institute’s Confidential Information contained in a Research Project Report, unless and until (i) Ambrx is permitted to
do so pursuant to the terms of this Agreement or any license agreement entered into by Ambrx and Institute after exercise of the Option for such Invention or (ii) such Information is no longer within the definition of “Confidential
Information” as set forth in Section 11 herein. 
 9.2 Indemnity. Following exercise of the
Option, Ambrx hereby agrees to indemnify, defend and hold harmless Institute and any Affiliate and their trustees, officers, employees, scientists and agent from and against any liability or expense arising from any claims arising from Ambrx’s
use of any Licensed Inventions pursuant to this Agreement. Such indemnity and defense obligation shall apply to any product liability claims, including without limitation, personal injury, death, or property damage made by employees, subcontractors,
sublicensees or agents of Ambrx, as well as any member of the general public. 
 9.3 Limitation of Liability. EXCEPT FOR
(A) INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES PAID OR PAYABLE TO A THIRD PARTY BY AN INDEMNIFIED PARTY FOR WHICH THE INDEMNIFIED PARTY IS ENTITLED TO INDEMNIFICATION HEREUNDER AND/OR (B) A BREACH OF
SECTION 11, IN NO EVENT SHALL ANY PARTY, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR AFFILIATES BE LIABLE TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES, WHETHER BASED UPON A
CLAIM OR ACTION OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY OR OTHER TORT, OR OTHERWISE, ARISING OUT OF THIS AGREEMENT. 

  
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 9.4 Insurance. Institute and Ambrx shall each procure and maintain
insurance, including (as to Ambrx) product liability insurance, with respect to its respective Collaboration Research Project activities and which are consistent with normal business practices of prudent companies similarly situated to such Party
throughout the term of this Agreement. A Party shall provide the other Party with written evidence of such insurance upon request and with written notice at least thirty (30) days prior to the cancellation, non-renewal or material change in
such insurance. 
  

	10.	Limited Warranty.  

 10.1 Each of Ambrx and Institute hereby represents and warrants
that it has full right and power to enter into and perform its obligations under this Agreement. 
 10.2 Institute hereby represents and
warrants that Exhibit A sets forth a complete and accurate list of all Ambrx Materials in its possession prior to or as of the Effective Date. 

10.3 EXCEPT AS SET FORTH IN THIS SECTION 10, NEITHER INSTITUTE NOR AMBRX MAKE ANY OTHER WARRANTIES CONCERNING TECHNOLOGY COVERED
BY THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. NEITHER INSTITUTE NOR AMBRX MAKE ANY WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE OF PATENTS, OR THAT
ANY COMPOUND AND/OR LICENSED PRODUCT WILL BE FREE FROM AN INFRINGEMENT ON PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES ARE IN ANY WAY INFRINGING OR MISAPPROPRIATING TECHNOLOGY COVERED BY THIS AGREEMENT.

  

	11.	Confidentiality and Publication 

 11.1 Treatment of Confidential
Information. Each Party agrees that, during the term of this Agreement, and for a period of seven (7) years after this Agreement terminates, a Party receiving Confidential Information of the other Party (the “Receiving
Party”) will (i) maintain in confidence such Confidential Information to the same extent the disclosing Party (the “Disclosing Party”) maintains its own proprietary information, (ii) not
disclose such Confidential Information to any Third Party without the prior written consent of the Disclosing Party and (iii) not use such Confidential Information for any purpose except those permitted by this Agreement, except for that
portion of such Confidential Information that the Receiving Party can demonstrate by competent written proof: 
  

	 	a.	was already known to the Receiving Party or any of its Affiliates, other than under an obligation of confidentiality to the Disclosing Party, at the time of disclosure by the Disclosing 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; 

  

	 	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.	is subsequently disclosed to the Receiving Party or any of its Affiliates by a Third Party without obligations of confidentiality to the Disclosing Party with respect thereto; or 

  
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	 	e.	is subsequently independently discovered or developed by the Receiving Party or its Affiliate without the aid, application, or use of Confidential Information of the Disclosing Party. 

11.2 Authorized Disclosure. Each Party may disclose Confidential Information belonging to the other Party to the extent such
disclosure is reasonably necessary in the following situations: 
  

	 	a.	filing or prosecuting Patents in accordance with Article 8; 

  

	 	b.	regulatory filings and other filings with governmental authorities (including regulatory authorities), including filings with the U.S. Food and Drug Administration, as necessary for the development and/or
commercialization of a Licensed Product, as required in connection with any filing, application or request for Regulatory Approval; provided, however, that reasonable measures will be taken to assure confidential treatment of such
information; 

  

	 	c.	prosecuting or defending litigation; 

  

	 	d.	complying with applicable law, including regulations promulgated by securities exchanges; 

  

	 	e.	disclosure to its Affiliates, employees, agents, independent contractors, licensors and any Sublicensees only on a need-to-know basis and solely in connection with the performance of this Agreement, provided that
each disclosee must be bound by obligations of confidentiality and non-use at least equivalent in scope to and no less restrictive than those set forth in this Article 11 prior to any such disclosure; and 

 

	 	f.	disclosure of the material terms of this Agreement, the state of development of Licensed Products, certain blinded data generated under this Agreement, in each case to any bona fide potential or actual investor,
stockholder, investment banker, acquirer, merger partner or other potential or actual financial partner; provided that each disclosee must be bound by obligations of confidentiality and non-use at least equivalent in scope to and no less
restrictive than those set forth in this Article 11 prior to any such disclosure. 

 Notwithstanding the
foregoing, in the event a Party is required to make a disclosure of the other Party’s Confidential Information, it will, except where impracticable, give reasonable advance notice to the other Party of such disclosure and use reasonable efforts
to secure confidential treatment of such information. In any event, the Receiving Party agrees to take all reasonable action to avoid disclosure of Confidential Information of the Disclosing Party hereunder. 

Nothing in Section 11.1 or 11.2 shall limit a Party in any way from disclosing to any Third
Party such Party’s U.S. or foreign income tax treatment and the U.S. or foreign income tax structure of the transactions relating to such Party that are based on or derived from this Agreement, as well as all materials of any kind (including
opinions or other tax analyses) relating to such tax treatment or tax structure, except to the extent that nondisclosure of such matters is reasonably necessary in order to comply with applicable securities laws. 

11.3 Publications. Institute agrees that Ambrx shall have a right to publish Ambrx Confidential Information in its sole
discretion. Ambrx recognizes that the Institute has a legitimate interest in the public communication of scientific results. Therefore, it is anticipated that the Institute may wish to publish the results of the Collaboration Research Projects.
Ambrx will permit such publication provided that Ambrx is given a reasonable period, not less than thirty (30) days prior to the submission for publication of any 

  
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manuscript concerning the results of the Collaboration Research Projects, to review such manuscript to make certain that none of Ambrx’s Confidential Information is disclosed therein and to
enable Ambrx to file or cause to be filed any relevant patent applications prior to publication. Ambrx may request the delay of any such proposed publication for an additional sixty (60) day period, in order to file any patent applications on
the Inventions disclosed therein. Ambrx reserves the right to have any of Ambrx’s Confidential Information deleted from such manuscript. 

11.4 Publicity. Except as otherwise provided herein or required by law, neither Ambrx nor Institute shall originate any
publication, news release or other public announcement, written or oral, whether in the public press, stockholders’ reports, or otherwise, relating to this Agreement or to any Sublicense hereunder, or to the performance hereunder or any such
agreements, without the prior written approval of each other party. Scientific publications published in accordance with Section 11.3 of this Agreement shall not be construed as publicity governed by this
Section 11.4. 
  

	12.	Term and Termination 

 12.1 Term. Unless terminated sooner in accordance
with the terms set forth herein, this Agreement, and the licenses granted hereunder, shall expire when the last of the payment obligations under this Agreement have expired. 

12.2 Termination Upon Default. Any one or more of the following events shall constitute an event of default hereunder:
(i) the failure of a Party to pay any amounts when due hereunder or (ii) the failure of a Party to perform any material obligation required of it to be performed hereunder, and the failure to cure within sixty (60) days after receipt
of notice from the other Party specifying in reasonable detail the nature of such default. Upon the occurrence of an event of default, the non-defaulting Party may deliver to the defaulting Party written notice of intent to terminate, such
termination to be effective upon the date set forth in such notice. Such termination rights shall be in addition to and not in substitution for any other remedies that may be available to the non-defaulting Party serving such notice against the
defaulting Party. Termination pursuant to this Section 12.2 shall not relieve the defaulting Party of liability and damages to non-defaulting Party for breach of this Agreement. Waiver by any Party of a single default or a
succession of defaults shall not deprive such Party of any right to terminate this Agreement arising by reason of any subsequent default. 

12.3 Termination Upon Ambrx Change of Control. Either Party may terminate this Agreement upon thirty (30) days’ prior
written notice delivered following the closing of an Ambrx Change of Control which occurs during the Research Program Term. If Ambrx terminates this Agreement following an Ambrx Change of Control, (i) Institute may continue to exercise the
research license granted pursuant to Section 3.1, on an Approved Research Plan-by-Approved Research Plan basis, for a period of twenty four (24) months following the date of approval by Ambrx of the applicable Research Plan
(such continued Research Plans, a “Continued Research Plan”) and (ii) Ambrx shall make two (2) additional Research Funding Payments. Article 5 shall remain in effect with respect to any Inventions,
Invention Patents and related Information that arise under or are conceived with respect to the Continued Research Plans, with the exception that Ambrx may not exercise its Option with respect to any such Continued Research Plan Invention Patents
and related Information. In addition, for clarity, following a termination under this Section 12.3, no new Research Plans may be proposed for approval or initiated; and if Ambrx has previously exercised an Option with respect to
particular Option IP, the licenses granted to Ambrx pursuant to the exercise of such Option shall remain in full force and effect. For purposes of this Section 12.3, “Ambrx Change of Control” means
(a) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) (a “Specified Person”) of beneficial ownership
(within the 

  
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meaning of Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended) of fifty percent (50%) or more of either (i) the then outstanding shares of capital stock
of Ambrx (the “Outstanding Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of Ambrx entitled to vote generally in the election of directors of Ambrx (the
“Outstanding Voting Securities”); provided, however, that for the purposes of this subsection (a), the following acquisitions of securities of Ambrx shall not constitute an Ambrx Change of Control: (w) any
acquisition by existing stockholders of Ambrx, (x) any acquisition by Ambrx, (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Ambrx or any corporation controlled by Ambrx or (z) any
acquisition by any corporation pursuant to a transaction which complies with clauses (i) and (ii) of subsection (b) of this definition; (b) the consummation of any acquisition, merger or consolidation involving any Third Party (a
“Business Combination Transaction”), unless immediately following such Business Combination Transaction, (i) the individuals and entities who were the beneficial owners, respectively, of the Outstanding Common
Stock and Outstanding Voting Securities immediately prior to such Business Combination Transaction beneficially own, directly or indirectly, fifty percent (50%) or more of, respectively, the then outstanding shares of common stock and the
combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation or other entity resulting from such Business Combination Transaction (including a
corporation which as a result of such transaction owns the then-outstanding securities of Ambrx or all or substantially all of Ambrx’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their
ownership, immediately prior to such Business Combination Transaction, of the Outstanding Common Stock and Outstanding Voting Securities, as the case may be and (ii) fifty percent (50%) or more of the members of the board of directors of
the corporation resulting from such Business Combination Transaction were members of the Board of Directors of Ambrx at the time of the execution of the initial agreement, or of the action of the Board of Directors of Ambrx, providing for such
Business Combination Transaction; or (c) Ambrx or any of its Affiliates sells or transfers to any Specified Person(s) in one or more related transactions properties or assets representing all or substantially all of Ambrx’s business or
assets at the time of such sale or transfer. 
 12.4 Expiration or Termination. 

 

	 	a.	Upon the expiration of this Agreement, or upon a termination of this Agreement, each Party shall perform all obligations incurred up to the date of said expiration or termination, and the Parties shall continue to abide
by their non-disclosure obligations described in Section 11. 

  

	 	b.	Any licenses in effect as a result of exercises of Options hereunder shall remain in full force and effect and Ambrx shall be obligated to make payments to Institute as set forth in Article 7 and
Sections 6, 8, 9 (excluding Section 9.1), 10, and this Section 12.4 shall survive and apply after expiration or termination of this Agreement. 

 

	 	c.	Ambrx shall have the right to continue to consider and/or validate any Invention and related Information which have not been considered and validated prior to the expiration or termination of this Agreement. Until the
Option Period has expired with respect to any such remaining Inventions, Articles 5, 7, 8, 9 and 10 and Sections 4.5, 6.1 and 6.2 of this Agreement shall remain in full force and
effect with respect to such Inventions. 

  

	 	d.	Ambrx’s right to license an Invention and related Information continues in perpetuity following the expiration or termination of this Agreement, subject to compliance with the terms (including the payment terms)
set forth in this Agreement. 

  
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	 	e.	In the event of termination of the Research Program Term prior to the expiration of eighteen (18) months following the Effective Date, Ambrx shall continue to make the quarterly Research Funding Payments set forth
in Section 7.1 through the remainder of the eighteen (18) month period; provided, that no such Research Funding Payments shall be made if Ambrx terminates this Agreement pursuant to Section 12.2 as a
result of an uncured Institute default; provided further, that only the Research Funding Payments set forth in Section 12.3(ii) shall be made if Ambrx terminates this Agreement pursuant to Section 12.3.

  

	 	f.	Any licenses in effect pursuant to Section 6.3 shall remain in full force and effect and Institute shall be obligated to make payments to Ambrx as set forth therein and Articles 8, 9
(excluding Section 9.1), 10, and this Section 12.4 shall survive and apply after expiration or termination of this Agreement. 

 

	 	g.	Notwithstanding anything to the contrary, the following provisions shall survive and apply after expiration or termination of this Agreement: Sections 3.5, 3.7, and 3.8 and
Articles 1 (to the extent necessary to interpret other surviving sections), 13 and 14. All provisions not surviving in accordance with this Section 12.4 shall terminate upon expiration or
termination of this Agreement and be of no further force and effect. 

  

	13.	Assignment; Successors 

 13.1 Assignment. This Agreement
may not be assigned by a Party without the prior written consent of the other Party; provided, however, that Ambrx may assign this Agreement and its rights and obligations hereunder to a successor in interest to all or substantially all of
the assets of Ambrx to which this Agreement relates, whether by way of a merger, consolidation, sale of assets, change of control or similar transaction. 

13.2 Binding Upon Successors and Assigns. Subject to the limitations on assignment herein, this Agreement shall
be binding upon and inure to the benefit of any successors in interest and assigns of Ambrx and Institute. 
  

	14.	General Provisions 

 14.1 Independent Contractors. The
relationship between Ambrx and Institute is that of independent contractors. Ambrx and Institute are not joint venturers, partners, principal and agent, master and servant, employer or employee, and have no other relationship other than independent
contracting parties. Ambrx and Institute shall have no power to bind or obligate each other in any manner, other than as is expressly set forth in this Agreement. 

14.2 Disputes. Ambrx and Institute recognize that disputes as to certain matters may from time to time arise
during the term of this Agreement which relate to Ambrx’s and Institute’s rights and/or obligations hereunder. It is the objective of Ambrx and Institute to establish procedures to facilitate the resolution of disputes arising under this
Agreement in an expedient manner by mutual cooperation and without resort to litigation. To accomplish this objective, Ambrx and Institute agree to follow the procedures set forth in Sections 14.3 and
14.4 if and when a dispute arises under this Agreement. 
 14.3 Alternative Dispute
Resolution. Any dispute controversy or claim arising out of or relating to the validity, construction, enforceability or performance of this Agreement, including disputes 

  
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relating to alleged breach or to termination of this Agreement or the scope of this arbitration provision, shall be settled by binding Alternative Dispute Resolution
(“ADR”) in the manner described below: 
  

	 	a.	If a Party intends to begin an ADR to resolve a dispute, after an initial 30 day waiting period after any such dispute arises in which the relevant parties shall work reasonably and in good faith to amicably resolve the
dispute without resorting to this article, such Party shall provide written notice (the “ADR Request”) to counsel for the other Party informing such other Party of such intention and the issues to be resolved. From the
date of the ADR Request and until such time as any matter has been finally settled by ADR, the running of the time periods contained in Section 12.2 as to which party must cure a breach of this Agreement shall be suspended
as to the subject matter of the dispute. 

  

	 	b.	Within thirty (30) business days after the receipt of the ADR Request, the other Party, may, by written notice to the counsel for the party initiating ADR, add additional issues to be resolved. 

14.4 Arbitration Procedure. The ADR and all pre-hearing, hearing and post-hearing arbitration procedures, shall
be conducted in English pursuant to the Commercial Arbitration Rules of the American Arbitration Association for Large, Complex Cases then in effect (the “Rules”), as amended by the following provisions. 

 

	 	a.	Arbitrator. To the extent that the Parties cannot agree on a single arbitrator, the arbitration shall be conducted by a panel of three arbitrators (the “Panel”). Each
Party to the dispute shall have the right to appoint one (1) member of the Panel, with the third member to be mutually agreed by the two Panel members appointed by the Parties or appointed in accordance with the rules of the American
Arbitration Association (if there are only two parties to the dispute). All panel members shall be selected from a pool of independent arbitrators. Each Party shall make its appointment within twenty (20) days of receipt of the ADR request and
the third panel member shall be selected by the two panel members within ten (10) days of the selection of the first two panel members (if applicable). 

  

	 	b.	Proceedings. The Parties will cooperate in good faith in the voluntary, prompt and informal exchange of non-privileged documents and other information relevant to the ADR. The Parties and the Panel
will make every effort to conclude the information exchange process within ninety (90) days after the Panel is selected. Within seven (7) days after selection of the Panel, each Party may serve on any other Party up to ten
(10) interrogatories (or a number otherwise set by the arbitrators), without subparts, for the purpose of identification of documents and witnesses. These interrogatories will be answered within seven (7) days. 

At any time after the selection of the Panel, but no later than thirty (30) days before the ADR hearing, each Party may
take up to three (3) depositions (or a number otherwise set by the arbitrators) of an opposing Party as a matter of right. The Parties will attempt to agree to time, location and duration of the deposition, and if the Parties do not agree these
will be determined by the Panel. 
 Any Party may conduct depositions of its own witnesses which may be introduced as
evidence at the ADR hearing if the other Party was given fair opportunity to attend the deposition and cross-examine. 

  
 Page 30 

 Upon the request of any Party, the Panel will conduct a conference for the
purpose of determining additional information to be exchanged. Parties may request additional depositions, interrogatories or document Production. If the Panel determines that the requesting Party has a reasonable need for the requested information
and that the request is not overly burdensome on the opposing Party, the Panel shall order the additional information exchange. 

As they become aware of new documents or information, including experts who may be called upon to testify, all Parties remain
under a continuing obligation to provide documents upon which they rely, to supplement their responses, and to honor any informal agreements or understandings between the Parties regarding documents or information to be exchanged. Documents which
have not been previously exchanged will not be considered by the Panel at the hearing, unless agreed by the Parties. 

The Parties will promptly notify the Panel when an unresolved dispute exists regarding discovery issues. The Panel will discuss
the matter with the Parties to determine the nature of the dispute and will attempt to resolve that dispute. If the Panel does not resolve the dispute, the Panel will arrange a conference concerning the dispute before the Panel by telephone, or in
person, and the Panel will decide the dispute. 
 The Panel will determine the date and time of the ADR hearing and other
proceedings after consultation with the Panel and the Parties and will provide reasonable notice of the hearing date and time. The Panel will make every effort to schedule the ADR hearing within one hundred and twenty (120) days of the
commencement of the ADR, absent unusual circumstances. 
 The Parties may agree on or the Panel for good cause may order a
rescheduling of the hearing date. 
 The Panel will ordinarily conduct the ADR hearing in the manner set forth in these
Rules. The Panel may vary these procedures if the Panel determines it is reasonable time limits on each phase of the proceeding and may limit testimony to exclude evidence that would be immaterial or unduly repetitive, provided that each
Party is afforded the opportunity to present material and relevant evidence. 
 The Panel will require witnesses to testify
under oath if requested by any Party. 
 The Panel will determine the order of proof, which will generally be similar to that
of a court trial, including opening and closing statements. 
 When the Panel determines that all relevant and material
evidence and arguments have been presented, the Panel will declare the hearing closed. The Panel may defer the closing of the hearing for up to twenty (20) days to permit the Parties to submit post-hearing briefs and or to make closing
arguments, as the Panel deems appropriate, before rendering an award. 
 The Panel will render the award within ten
(10) days after the date of the closing of the hearing or, if an ADR hearing has been waived, within ten (10) days after the date of the Panel’s receiving all materials specified by the Parties. The decision and award of majority

  
 Page 31 

 
of the Panel will constitute the ADR award and will be binding on the Parties. The ADR award shall include specific findings of fact and shall reach conclusions of law based on the submissions
and evidence of the Parties and shall be delivered via written decision explaining the basis for the decision. 
 The Panel
shall, in rendering its decision, apply the substantive laws of the State of California, without regard to its conflict of laws provisions, except that the interpretation of and enforcement of this Article shall be governed by the Federal
Arbitration Act and the arbitrators shall base their decision on the express terms, covenants and conditions of this Agreement. The proceeding shall take place in San Diego, California. The fees of the Panel shall be paid by the losing Party which
shall be designated by the Panel. If the Panel is unable to designate a losing Party, it shall so state and the fees shall be split equally between the parties. 
  

	 	c.	Award. The Panel is empowered to award any remedy allowed by law, including money damages, multiple damages, prejudgment interest and attorney’s fees, and to grant final, complete, interim, or
interlocutory relief, including injunctive relief. Notwithstanding the foregoing, punitive damages may not be awarded and express terms of this Agreement may not be altered. 

 

	 	d.	Costs. Except as set forth in Section 14.4(b), above, each Party shall bear its own legal fees. 

 

	 	e.	Confidentiality. The ADR proceeding shall be confidential and the Panel shall issue appropriate protective orders to safeguard each Party’s Confidential Information. Except as required by law,
including applicable securities law, no Party shall make (or instruct the panel to make) any public announcement with respect to the proceedings or decision of the Panel without prior written consent of each other Party. The existence of any dispute
submitted to ADR, and the award, shall be kept in confidence by the Parties and the Panel, except as required in connection with the enforcement of such award or as otherwise required by applicable law. 

14.5 Survivability. Any duty to use ADR under this Agreement shall remain in effect and enforceable after
termination of this Agreement for any reason. 
 14.6 Entire Agreement; Modification. This Agreement sets forth
the entire agreement and understanding between Ambrx and Institute as to the subject matter hereof. There shall be no amendments or modifications to this Agreement, except by a written document which is signed by Ambrx and Institute. 

14.7 Governing Law. This Agreement shall be construed and enforced in accordance with the substantive laws of the
State of California, without regard to its conflict of laws principles. 
 14.8 Headings. The headings for 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. 

14.9 Severability. Should any one or more of the provisions of this Agreement be held invalid or unenforceable by
a court of competent jurisdiction, it shall be considered severed from this Agreement and shall not serve to invalidate the remaining provisions thereof. The Parties shall make a 

  
 Page 32 

 
good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by them when entering this Agreement may be realized.

 14.10 No Waiver. Any delay in enforcing rights under this Agreement or any waiver as to a particular default
or other matter shall not constitute a waiver of such rights to the future enforcement of its rights under this Agreement exception only as to an express written and signed waiver as to a particular matter for a particular period of time. 

14.11 Notices. Any notices required by this Agreement shall be in writing, shall specifically refer to this
Agreement and shall be sent by registered or certified airmail, postage prepaid, or by facsimile, or by overnight courier, postage prepaid and shall be forwarded to the respective addresses set forth below unless subsequently changed by written
notice to the other Party: 
  

			
	For Ambrx	 	 10975 North Torrey Pines Road
 La Jolla,
California 92037

	Attn:	 	General Counsel
	Fax No.:	 	(858) 453-9511
	
	With a copy to (which shall not constitute notice hereunder):
		
		 	 Latham & Watkins LLP
 12636 High Bluff
Drive, Suite 400
 San Diego, CA 92130

	Attn:	 	Faye H. Russell
	Fax No.:	 	(858) 523-5450
		
	For Institute:	 	California Institute for Biomedical Research, Inc.
		 	11119 North Torrey Pines Road
		 	 Suite 100
 La Jolla, CA 92037

		 	Attn: Dr. Peter Schultz
		 	Fax No.:        [number]
		
	With a copy to:	 	
		
		 	 Wilson Sonsini
 650 Page Mill Rd

Palo Alto, CA 94304

	Attn:	 	Vern Norviel
	Fax No.:	 	(650) 493-6811

 Notice shall be deemed delivered upon the earlier of (i) when received, (ii) three (3) days
after deposit into the mail, or (iii) the date notice is sent via facsimile, (iv) the day immediately following delivery to overnight courier (except Sunday and holidays). 

14.12 Compliance with U.S. Laws. Nothing contained in this Agreement
shall require or permit Ambrx or Institute to do any act inconsistent with the requirements of any United States law, regulation or executive order as the same may be in effect from time to time. 

  
 Page 33 

 14.13 Non-Solicitation. During the Research Program Term and for a
period of two (2) years thereafter, neither Ambrx nor Institute shall actively recruit or solicit for employment any staff member of the other Party who is engaged or had been engaged in activities under this Agreement. For the avoidance of
doubt, nothing in this Agreement shall limit Ambrx or Institute from engaging in general recruitment through advertisements or recruiting through “head-hunters” so long as the staff members of the other Party are not specifically targeted
in such recruitment effort. 
 [Remainder of Page Intentionally left Blank] 

  
 Page 34 

 IN WITNESS WHEREOF each of Ambrx and Institute have executed this Agreement by their duly
authorized representatives as of the date set forth above. 
  

									
	 Ambrx:
	 		 	 Institute:

					
	By:	 	 /s/ Lawson Macartney
	 		 	By:	 	 /s/ Peter Schultz

	Title:	 	 President & CEO
	 		 	Title:	 	 Director

 EXHIBIT A 

Ambrx Materials 
 Ambrx
Materials in Institute’s possession prior to or as of the Effective Date 
 Ambrx Materials contemplated to be transferred to Institute as of
the Effective Date 

 Schedule A 

Excluded Grandfathered Research Projects 

[***] 

  
 ***Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Schedule B 

Grandfathered Research Projects 

[***] 

  
 ***Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Schedule C 

Option Process Flow 

[Attached] 

	
	[***]

  
 ***Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.EX-10.19

 Exhibit 10.19 

CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED
MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 LICENSE AGREEMENT 

by and between 
 THE
SCRIPPS RESEARCH INSTITUTE, 
 a California nonprofit 

public benefit corporation 

and 
 AMBRX, INC.

 a Delaware corporation 

 TABLE OF CONTENTS 
  

											
	 	 	 	 	 	  	 	  	Page	 
			
	 1.
	 	 Definitions
	  	 	1	  
		 	 1.1
	 	 Affiliate
	  	 	1	  
		 	 1.2
	 	 Benchmarks
	  	 	1	  
		 	 1.3
	 	 Commercial Development Plan
	  	 	1	  
		 	 1.4
	 	 Confidential Information
	  	 	1	  
		 	 1.5
	 	 Field
	  	 	2	  
		 		 	 1.5.1
	  	 Human Therapeutic:
	  	 	2	  
		 		 	 1.5.2
	  	 Human Diagnostic:
	  	 	2	  
		 		 	 1.5.3
	  	 Human Imaging Reagents:
	  	 	2	  
		 		 	 1.5.4
	  	 Research Tool:
	  	 	2	  
		 		 	 1.5.5
	  	 Other:
	  	 	2	  
		 	 1.6
	 	 Licensed Biological Materials
	  	 	2	  
		 	 1.7
	 	 Licensed Patent Rights
	  	 	2	  
		 	 1.8
	 	 Licensed Product
	  	 	3	  
		 	 1.9
	 	 Licensed Process
	  	 	3	  
		 	 1.10
	 	 Licensed Service
	  	 	3	  
		 	 1.11
	 	 Licensed Technology
	  	 	3	  
		 	 1.12
	 	 Net Sales
	  	 	3	  
		 	 1.13
	 	 New License Agreement
	  	 	3	  
		 	 1.14
	 	 “Novartis Research Products Non-Exclusive License”
	  	 	3	  
		 	 1.15
	 	 Royalty Report
	  	 	3	  
		 	 1.16
	 	 Sub-Field
	  	 	4	  
		 	 1.17
	 	 Sublicense
	  	 	4	  
		 	 1.18
	 	 Sublicensee
	  	 	4	  
		 	 1.19
	 	 Sublicensing Revenues
	  	 	4	  
		 	 1.20
	 	 Valid Claim
	  	 	4	  
			
	 2.
	 	 Delivery
	  	 	4	  
			
	 3.
	 	 Grant of License
	  	 	4	  
		 	 3.1
	 	 Grant of License for Licensed Products
	  	 	4	  
		 	 3.2
	 	 Grant of License for Licensed Processes
	  	 	4	  
		 	 3.3
	 	 Grant of License for Licensed Services
	  	 	4	  
		 	 3.4
	 	 Grant of License for Licensed Biological Materials
	  	 	5	  
		 	 3.5
	 	 Grant of License for Licensed Technology
	  	 	5	  
		 	 3.6
	 	 Sublicensing
	  	 	5	  
		 	 3.7
	 	 No Other License
	  	 	5	  
		 	 3.8
	 	 Governmental Interest
	  	 	5	  
		 	 3.9
	 	 Reservation of Rights
	  	 	6	  
		 	 3.10
	 	 Novartis Research Products Non-Exclusive License
	  	 	6	  
			
	 4.
	 	 Stock License Fee
	  	 	6	  
			
	 5.
	 	 Royalties
	  	 	6	  
		 	 5.1
	 	 Royalties on Net Sales
	  	 	6	  
		 		 	 5.1.1
	  	 Primary Sub-Fields
	  	 	6	  

  
 i 

 TABLE OF CONTENTS 

											
					
	 	 	 	 	 	  	 	  	Page	 
					
		 		 	 5.1.2
	  	 Research Tool or Other Sub-Fields
	  	 	6	  
		 	 5.2
	 	 Royalties on Sublicensing Revenues
	  	 	7	  
		 	 5.3
	 	 [***]
	  	 	7	  
		 	 5.4
	 	 No Multiple Royalties
	  	 	7	  
		 	 5.5
	 	 Arms-Length Transactions
	  	 	7	  
		 	 5.6
	 	 Duration of Royalty Obligations
	  	 	7	  
		 	 5.7
	 	 Combination Products
	  	 	7	  
		 	 5.8
	 	 Royalty Payments Timing
	  	 	8	  
			
	 6.
	 	 Reports on Progress, Sales or Payments
	  	 	8	  
		 	 6.1
	 	 Commercial Development Plan
	  	 	8	  
		 		 	 6.1.1
	  	 Commercial Development Plan; Human Therapeutics, Human Diagnostics, and Human Imaging Reagents
	  	 	8	  
		 		 	 6.1.2
	  	 Commercial Development Plan; Research Tools
	  	 	9	  
		 		 	 6.1.3
	  	 Commercial Development Plan; Other
	  	 	9	  
		 	 6.2
	 	 Progress Reports on Commercial Development Plan
	  	 	9	  
		 	 6.3
	 	 Right to Reduce Field or Convert License to Nonexclusive
	  	 	10	  
		 	 6.4
	 	 Reports on Net Sales and Sublicensing Revenues
	  	 	10	  
		 	 6.5
	 	 Royalty Payments
	  	 	11	  
		 	 6.6
	 	 Foreign Sales
	  	 	11	  
		 	 6.7
	 	 Foreign Taxes
	  	 	11	  
			
	 7
	 	 Record Keeping
	  	 	11	  
		 	 7.1
	 	 Maintenance of Records
	  	 	11	  
		 	 7.2
	 	 Examination of Records
	  	 	11	  
		 	 7.3
	 	 Expenses for Examination; Interest Charge
	  	 	11	  
			
	 8.
	 	 Patent Matters
	  	 	12	  
		 	 8.1
	 	 Patent Prosecution and Maintenance
	  	 	12	  
		 	 8.2
	 	 Information to Licensee
	  	 	12	  
		 	 8.3
	 	 Patent Costs
	  	 	12	  
		 	 8.4
	 	 Ownership
	  	 	12	  
		 	 8.5
	 	 Abandonment
	  	 	13	  
		 		 	 8.5.1
	  	 Abandonment by Licensee
	  	 	13	  
		 		 	 8.5.2
	  	 Default by Licensee
	  	 	13	  
		 		 	 8.5.3
	  	 Termination
	  	 	13	  
		 	 8.6
	 	 Infringement Actions
	  	 	13	  
		 		 	 8.6.1
	  	 Notice
	  	 	13	  
		 		 	 8.6.2
	  	 Licensee’s Right to Sue
	  	 	13	  
		 		 	 8.6.3
	  	 TSRI’s Right to Sue
	  	 	14	  
		 		 	 8.6.4
	  	 Licensee’s Action
	  	 	14	  
		 		 	 8.6.5
	  	 Recovery by Licensee
	  	 	15	  
		 		 	 8.6.6
	  	 Cooperation
	  	 	15	  
		 		 	 8.6.7
	  	 Settlement Sublicense
	  	 	15	  

  
 ***Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 
 ii

 TABLE OF CONTENTS 

											
					
	 	 	 	 	 	  	 	  	Page	 
				
		 	 8.7
	 	 Infringement Defense
	  	 	15	  
		 	 8.8
	 	 Validity Challenge
	  	 	15	  
			
	 9.
	 	 Indemnity and Insurance
	  	 	16	  
		 	 9.1
	 	 Indemnity
	  	 	16	  
		 	 9.2
	 	 Insurance
	  	 	16	  
			
	 10.
	 	 Limited Warranty; Liability Limitations
	  	 	17	  
		 	 10.1
	 	 Authority Warranty
	  	 	17	  
		 	 10.2
	 	 Ownership Warranty
	  	 	17	  
		 	 10.3
	 	 Disclaimers
	  	 	17	  
		 	 10.4
	 	 Limits on Liability
	  	 	17	  
			
	 11.
	 	 Confidentiality and Publication
	  	 	17	  
		 	 11.1
	 	 Treatment of Confidential Information
	  	 	17	  
		 	 11.2
	 	 Publications
	  	 	18	  
		 	 11.3
	 	 Publicity
	  	 	18	  
			
	 12.
	 	 Term and Termination
	  	 	18	  
		 	 12.1
	 	 Term
	  	 	18	  
		 	 12.2
	 	 Termination Upon Mutual Agreement
	  	 	18	  
		 	 12.3
	 	 Termination by TSRI
	  	 	18	  
		 	 12.4
	 	 Termination by Licensee
	  	 	19	  
		 	 12.5
	 	 Rights Upon Expiration
	  	 	19	  
		 	 12.6
	 	 Rights Upon Termination
	  	 	19	  
		 	 12.7
	 	 Work-in-Progress
	  	 	19	  
		 	 12.8
	 	 Final Royalty Report
	  	 	19	  
			
	 13.
	 	 Assignment; Successors
	  	 	20	  
		 	 13.1
	 	 Assignment
	  	 	20	  
		 	 13.2
	 	 Binding Upon Successors and Assigns
	  	 	20	  
			
	 14.
	 	 General Provisions
	  	 	20	  
		 	 14.1
	 	 Independent Contractors
	  	 	20	  
		 	 14.2
	 	 Late Payments
	  	 	20	  
		 	 14.3
	 	 Governmental Approvals and Marketing of Licensed Products
	  	 	20	  
		 	 14.4
	 	 Patent Marking
	  	 	20	  
		 	 14.5
	 	 No Use of Name
	  	 	20	  
		 	 14.6
	 	 U.S. Manufacture
	  	 	20	  
		 	 14.7
	 	 Foreign Registration
	  	 	20	  
		 	 14.8
	 	 Use of Biological Materials
	  	 	20	  
		 	 14.9
	 	 Arbitration
	  	 	21	  
		 	 14.10
	 	 Entire Agreement; Modification
	  	 	22	  
		 	 14.11
	 	 California Law
	  	 	22	  
		 	 14.12
	 	 Headings
	  	 	22	  
		 	 14.13
	 	 Severability
	  	 	22	  
		 	 14.14
	 	 No Waiver
	  	 	22	  
		 	 14.15
	 	 Name
	  	 	22	  

  
 iii 

 TABLE OF CONTENTS 

											
					
	 	 	 	 	 	  	 	  	Page	 
				
		 	 14.16
	 	 Attorneys’ Fees
	  	 	22	  
		 	 14.17
	 	 Force Majeure
	  	 	22	  
		 	 14.18
	 	 Notices
	  	 	23	  
		 	 14.19
	 	 Compliance with U.S. Laws
	  	 	23	  
		
	 EXHIBIT A LICENSED PATENT RIGHTS
	  	 	24	  

  
 iv 

 LICENSE AGREEMENT 

This License Agreement is entered into and made effective as of this 26th day of August, 2003 (the “Effective Date”), by and between
THE SCRIPPS RESEARCH INSTITUTE, a California nonprofit public benefit corporation (“TSRI”) located at 10550 North Torrey Pines Road, La Jolla, California 92037, and Ambrx, Inc., a Delaware corporation (“Licensee”) located at
10410 Science Center Drive, San Diego, California 92121, with respect to the facts set forth below. 
 RECITALS 

A. TSRI is engaged in fundamental scientific biomedical and biochemical research including research relating to the development of
technologies for the incorporation of unique amino acids into peptides and proteins in vivo. 
 B. Licensee is engaged in research and
development activities relating to modifying the structure, function and activity of peptides, proteins and other molecules. 
 C. TSRI has
disclosed to Licensee certain technology and TSRI has the right to grant a license to the technology, subject to certain rights of the U.S. Government resulting from the receipt by TSRI of certain funding from the U.S. Government. 

D. TSRI desires to grant to Licensee, and Licensee wishes to acquire from TSRI, a sole worldwide right and license to certain patent rights
and materials of TSRI, subject to the terms and conditions set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, TSRI and Licensee hereby agree as follows: 

1. Definitions. Capitalized terms shall have the meaning set forth herein. 

1.1 Affiliate. The term “Affiliate” shall mean any entity which directly or indirectly controls, or is controlled by
Licensee. The term “control” as used herein means (a) in the case of corporate entities, direct or indirect ownership of at least fifty percent (50%) of the stock or shares entitled to vote for the election of directors; or
(b) in the case of non-corporate entities, direct or indirect ownership of at least fifty percent (50%) of the equity interest with the power to direct the management and policies of such non-corporate entities. Unless otherwise specified,
the term Licensee includes Affiliates. 
 1.2 Benchmarks. The term “Benchmarks” is defined in Section 6.1 (Commercial
Development Plan). 
 1.3 Commercial Development Plan. The term “Commercial Development Plan” is defined in
Section 6.1 (Commercial Development Plan) below. 
 1.4 Confidential Information. The term “Confidential Information”
shall mean any and all proprietary or confidential information of TSRI or Licensee which may be exchanged between the parties 

  
 1 

 
at any time and from time to time during the term of this Agreement. Information shall not be considered confidential to the extent that the receiving party can establish by competent proof that
it: 
 (a) Is publicly disclosed through no fault of any party hereto, either before or after it becomes known to the receiving party; or

 (b) Was known to the receiving party prior to the date of disclosure, which knowledge was acquired independently and not from another
party hereto (or such party’s employees); or 
 (c) Is subsequently disclosed to the receiving party in good faith by a third party who
has a right to make such disclosure; or 
 (d) Has been published by a third party as a matter of right; or 

(e) Is required to be disclosed by law or court order, in which event the party required to make such disclosure shall limit the same to the
minimum required to comply with the law or court order, and prior to making such disclosure that party shall notify the other party, not later than ten (10) days before the disclosure in order to allow that other party to comment and/or to
obtain a protective or other order, including extensions of time and the like, with respect to such disclosure. 
 1.5 Field. The
term “Field” shall mean all fields of use. The Field shall be comprised of several sub-fields (the “Sub-Fields”), consisting of the following: 

1.5.1 Human Therapeutic: The term “Human Therapeutic” shall mean any compound, mixture of compounds, formulation or
biological preparation, administered individually or in conjunction to cause a pharmacological effect or activity, to treat a specific disease state or medical condition, or to prevent the onset of a specific disease, state or medical condition in
humans; 
 1.5.2 Human Diagnostic: The term “Human Diagnostic” shall mean any compound, mixture of compounds, formulation
or biological preparation, administered individually or in conjunction to permit the diagnosis, identification or monitoring of a disease, state or condition in humans; 

1.5.3 Human Imaging Reagents: The term “Human Imaging Reagents” shall mean any compound, mixture of compounds, formulation or
biological preparation, administered individually or in conjunction to permit the detection or visualization of a disease state or medical condition in humans; 

1.5.4 Research Tool: The term “Research Tool” shall mean any composition of matter, method, device, or improvement thereon
utilized for internal drug discovery purposes by a party other than Licensee or an Affiliate; and 
 1.5.5 Other: The term
“Other” shall mean all other fields of use. 
 1.6 Licensed Biological Materials. The term “Licensed Biological
Materials” shall mean (i) the materials to be supplied by TSRI, as identified using the process more particularly described in Section 2 (Delivery) below, (ii) any progeny, mutants, or derivatives thereof supplied by TSRI, and
(iii) any progeny, mutants or derivatives thereof created by Licensee. 
 1.7 Licensed Patent Rights. The term “Licensed
Patent Rights” shall mean rights arising out of or resulting from (a) the U.S./PCT Patent Application(s) set forth on Exhibit A; (b) the foreign patent applications of (a); (c) all foreign and domestic patents proceeding
from (a) and (b); (d) divisionals, continuations, substitutions, reissues, reexaminations, renewals and extensions of any patent or 

  
 2 

 
application set forth in (a)-(c) above; and (e) all claims of continuations-in-part that are entitled to the benefit of the priority date of (a), so long as said patents in (a) -
(e) above have not been held invalid and/or unenforceable by a court of competent jurisdiction from which there is no appeal or, if appealable, from which no appeal has been taken. 

1.8 Licensed Product. The term “Licensed Product” shall mean (a) any product which cannot be made, used, imported, sold,
or offered for sale without infringing a Valid Claim under the Licensed Patent Rights in the country for which the product is made, used, imported or sold; or (b) any product which utilizes or incorporates Licensed Biological Materials. 

1.9 Licensed Process. The term “Licensed Process” shall mean any process which (a) cannot be performed without
infringing a Valid Claim of Licensed Patent Rights in the country where the process is performed; or (b) utilizes or incorporates Licensed Biological Materials. 

1.10 Licensed Service. The term “Licensed Service” shall mean the performance of a service for a third party, which
performance (a) cannot be performed without infringing a Valid Claim of Licensed Patent Rights in the country where the service is performed, or (b) utilizes or incorporates Licensed Biological Material. 

1.11 Licensed Technology. The term “Licensed Technology” shall mean any and all rights owned by TSRI in any technical
information, know-how, process, procedure, composition, device, method, formula, protocol, technique, or data applicable to the inventions claimed in the Licensed Patent Rights (but excluding anything in the
public domain and subject to any TSRI pre-existing obligations to third parties), which were conceived or reduced to practice by Peter Schultz or other TSRI personnel under his supervision, prior to the Effective Date, which are not covered by
Licensed Patent Rights but which are reasonably necessary to practice inventions covered by the Licensed Patent Rights. 
 1.12 Net
Sales. The term “Net Sales” shall mean the gross amount invoiced by Licensee or its Affiliate(s), for all sales of Licensed Products, Licensed Processes and Licensed Services less (a) discounts actually allowed; (b) credits
for claims, allowances, retroactive price reductions or returned goods; (c) prepaid freight and transit insurance; (d) sales taxes or other governmental charges actually paid in connection with sales of Licensed Products, Licensed
Processes or Licensed Services (but excluding what are commonly known as income taxes and value-added taxes); (e) amounts payable resulting from governmental (or agency thereof) mandated rebate programs; and (f) any other specifically
identifiable amounts included in gross sales that will be credited for reasons substantially equivalent to those listed hereinabove. For purposes of determining Net Sales, a sale shall be deemed to have occurred when an invoice therefore shall be
generated or the Licensed Product shipped for delivery, Licensed Process completed, or Licensed Service provided. 
 1.13 New License
Agreement is defined in Section 3.6(b). 
 1.14 “Novartis Research Products Non-Exclusive License” shall mean the
non-exclusive, worldwide license rights (without right to sublicense) granted by TSRI to Novartis under the Licensed Patent Rights to make and use (but not to sell) “Research Products.” “Research Products” is defined to mean any
product, process or device which is designed or utilized for discovering, improving, developing, or testing a Therapeutic Product, Preventative Medicine Product, or Diagnostic Product, but which is not utilized as a Therapeutic Product, Preventative
Medicine Product, or Diagnostic Product (as said terms are defined in the TSRI-Novartis agreement). 
 1.15 Royalty Report. The term
“Royalty Report” is defined in Section 6.4 (Reports on Net Sales and Sublicensing Revenues). 

  
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 1.16 Sub-Field. The term “Sub-Field” is defined in Section 1.5 above. 

1.17 Sublicense. The term “Sublicense” shall mean any sublicense between Licensee and a third party (other than an Affiliate)
pursuant to which Licensee has granted to such third party the right to make (or have made), import and/or sell Licensed Products, or to whom Licensee has granted the right to practice any method that would infringe a Valid Claim within the Licensed
Patent Rights, or to whom Licensee has granted the right to use a Licensed Process or Licensed Technology, in each case with respect to Licensed Products made by such third party (or by another entity pursuant to such third party’s “have
made” rights), or Licensed Process or Licensed Services rendered by such third party to its customers and end users, and not for internal purposes or use. 

1.18 Sublicensee. The term “Sublicensee” shall mean a third party (other than an Affiliate) who has entered into a Sublicense
with Licensee. 
 1.19 Sublicensing Revenues. The term “Sublicensing Revenues” shall mean [***]. 

1.20 Valid Claim. The term “Valid Claim” shall mean a claim of an issued patent within the Licensed Patent Rights that has
not lapsed, expired, been canceled, or become abandoned, and has not been held unenforceable, unpatentable or invalid by a court or other appropriate body of competent jurisdiction, unappealable or unappealed within the time allowed for appeal and
which has not been admitted to be invalid or unenforceable through reissue or disclaimer or otherwise. The term Valid Claim shall also include the claims of a pending patent application within the Licensed Patent Rights for a period of five
(5) years from the date of first examination of that patent application in a particular country. 
 2. Delivery. On or before the expiration of
thirty (30) days from the Effective Date, the parties shall meet and agree upon a list of Licensed Biological Materials to be supplied by TSRI to Licensee hereunder. Promptly upon completing such list, the parties shall initial the list and
attach it to this Agreement. The biological materials identified on such list shall be the “Licensed Biological Materials” described in Section 1.6(i). The failure of the parties to agree on such list upon the expiration of thirty
(30) days from the Effective Date shall give either party the right to make a demand for arbitration under Section 14.9 (Arbitration) below. Promptly upon the identification of the Licensed Biological Materials hereunder, TSRI shall
deliver to Licensee the Licensed Biological Materials. 
 3. Grant of License. 

3.1 Grant of License for Licensed Products. TSRI hereby grants and Licensee accepts, subject to the terms and conditions of this
Agreement (including, without limitations, Sections 3.8, 3.9 and 3.10), a sole, exclusive, worldwide right and license under the Licensed Patent Rights to make and have made, to use and have used, to sell and have sold, to offer to sell, and to
import Licensed Products in the Field. 
 3.2 Grant of License for Licensed Processes. TSRI hereby grants and Licensee accepts,
subject to the terms and conditions of this Agreement (including, without limitations, Sections 3.8, 3.9 and 3.10), a sole, exclusive, worldwide right and license under the Licensed Patent Rights to use and have used, to sell and have sold, and
to offer to sell Licensed Processes in the Field. 
 3.3 Grant of License for Licensed Services. TSRI hereby grants and Licensee
accepts, subject to the terms and conditions of this Agreement (including, without limitations, Sections 3.8, 3.9 

  
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4 

 
and 3.10), a sole, exclusive, worldwide right and license under the Licensed Patent Rights to use and have used, to sell and have sold, and to offer to sell Licensed Services in the Field. 

3.4 Grant of License for Licensed Biological Materials. TSRI hereby grants and Licensee accepts, subject to the terms and conditions of
this Agreement (including, without limitations, Sections 3.8, 3.9 and 3.10), a sole, exclusive, worldwide right and license to the Licensed Biological Materials to make and have made, to use and have used, to sell and have sold, to offer to
sell, and to import any Licensed Biological Materials in the Field. 
 3.5 Grant of License for Licensed Technology. TSRI hereby
grants and Licensee accepts, subject to the terms and conditions of this Agreement, a non-exclusive, worldwide right and license to the Licensed Technology to make and have made, to use and have used, to sell
and have sold, to offer to sell, to lease and to import in the Field, any Licensed Products, Licensed Processes, Licensed Services, and/or Licensed Biological Materials. 

3.6 Sublicensing. 
 (a)
Licensee shall have the right to grant Sublicenses (and subsequent tiers of sub-Sublicenses) to any party with respect to the rights conferred upon Licensee under this Agreement, provided, however, that any
such Sublicense shall be subject in all respects to the provisions contained in this Agreement (excluding the payments specified in Sections 4, 5 and 8.3 hereof). In the event of a conflict between this Agreement and the terms of any
Sublicense, the terms of this Agreement shall control. Licensee shall forward to TSRI a copy of any and all fully executed Sublicense within thirty (30) days after execution. 

(b) Any Sublicense may survive termination of this Agreement for the benefit of TSRI, in accordance with the provisions of this
Section 3.6(b). TSRI hereby grants to each Sublicensee of Licensee hereunder an option to obtain directly from TSRI a license agreement on substantially same terms and conditions set forth in the applicable Sublicense. On or before the
expiration of sixty (60) days from the date of termination of this Agreement pursuant to Section 12 (Term and Termination), each Sublicensee may provide TSRI with written notice of intent to exercise the option set forth in this
Section 3.6(b). TSRI shall enter into a license agreement directly with each such Sublicensee (the “New License Agreement”) on substantially the same terms and conditions as those under the sublicense between such Sublicensee and
Licensee, including but not limited to sublicense royalty rate, sublicense scope, sublicense territory, and duration of sublicense grant; provided, however, (i) that Sublicensee shall agree in the New License Agreement to a term
providing that in no event shall TSRI be liable to Sublicensee for any actual or alleged breach of such Sublicense by Licensee; and (ii) that in no event shall TSRI be obliged to accept provisions in the New License Agreement (A) unless
such provisions correspond to rights granted by Licensee to Sublicensee in conformance with this Agreement, and such provisions are not in conflict with the material rights, duties and obligations accruing to Licensee under this Agreement; or
(B) where such provisions are inconsistent with TSRI’s legal obligations under any other Sublicense granted by Licensee, or by applicable federal, state or local statute or regulation. 

3.7 No Other License. This Agreement confers no license or rights by implication, estoppel, or otherwise under any patent applications
or patents of TSRI other than Licensed Patent Rights and the Licensed Technology, regardless of whether such patents are dominant or subordinate to Licensed Patent Rights. 

3.8 Governmental Interest. Licensee and TSRI acknowledge that TSRI has received, and expects to continue to receive, funding from the
United States Government in support of TSRI’s research activities. Licensee and TSRI acknowledge and agree that their respective rights and obligations pursuant 

  
 5 

 
to this Agreement shall be subject to the rights of the United States Government which may arise or result from TSRI’s receipt of research support from the United States Government. 

3.9 Reservation of Rights. In keeping with the sole license granted herein, TSRI reserves the right to use for any internal research
purposes within its not-for-profit corporate mission and the right to allow other nonprofit or academic institutions to use for its own internal research purposes any Licensed Patent Rights and Licensed Biological Materials licensed hereunder,
without TSRI or such other institutions being obligated to pay Licensee any royalties or other compensation. TSRI shall have no obligation to notify or inform Licensee of such use. 

3.10 Novartis Research Products Non-Exclusive License. The license rights granted by TSRI to Licensee under this Agreement are subject
to the non-exclusive license rights granted to Novartis pursuant to the Novartis Research Products Non-Exclusive License. 
 4. Stock License Fee.
Licensee shall issue to TSRI Licensee’s common stock representing [***] ownership of Licensee on a fully-diluted basis once Licensee has raised [***] of equity funding. Said shares shall be issued pursuant to a customary Stock Acquisition
Agreement, in a form mutually approved by Licensee and TSRI. 
 5. Royalties. 

5.1 Royalties on Net Sales. Licensee shall pay to TSRI earned royalties on Net Sales of Licensee of Licensed Product, Licensed Process,
and Licensed Service, on a country-by-country basis, as follows: 

5.1.1 Primary Sub-Fields. For use in the Human Therapeutics, Human Diagnostics and Human
Imaging Reagent Sub-Fields: 
  

			
		 	 [***] of the first [***] of annual Net Sales for a particular Licensed Product, Licensed Process or Licensed Service;

		
		 	 [***] of the next [***] of annual Net Sales for a particular Licensed Product, Licensed Process or Licensed Service;

		
		 	 [***] of any net sales in excess of [***] annual Net Sales for a particular Licensed Product, Licensed Process or Licensed
Service.

 5.1.2 Research Tool or Other Sub-Fields. For the Sub-Fields of Research Tool and Other (e.g., applications relating to industrial enzymes, agricultural uses or environmental uses), the parties shall negotiate in good faith to determine the appropriate royalties
for such Licensed Product, Licensed Process, or Licensed Service prior to any sales thereof by Licensee. Licensee may, from time to time during the term hereof, provide TSRI with written notice of intent to market and sell Licensed Products,
Licensed Processes or Licensed Services, or any of them, in the Research Tool or Other Sub-Fields and propose an applicable royalty rate for such Licensed Product, Licensed Process or Licensed Service. The parties shall, not more than ten
(10) days after delivery of such notice from Licensee to TSRI, meet and negotiate in good faith the applicable royalties therefor and Commercial Development Plan applicable thereto (in accordance with the provisions of Section 6.1 below).
The failure of the parties to agree upon applicable royalties and Commercial Development Plan within sixty (60) days from 

  
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6 

 
delivery of such notice shall give either party the right to demand arbitration pursuant to the provisions of Section 14.9 (Arbitration) below. 

5.2 Royalties on Sublicensing Revenues. Licensee shall pay to TSRI earned royalties on Sublicensing Revenues received by Licensee under
Sublicenses, on a country-by-country basis, in an amount equal to [***] of annual Sublicensing Revenues. 
 5.3 [***] 

5.4 No Multiple Royalties. Only one royalty (which shall be the highest of the royalties owed to TSRI pursuant to Sections 5.1 and
5.2 above) shall be due under Sections 5.1 and 5.2 above, (i) in the event that more than one Valid Claim within the Licensed Patent Rights is applicable to any Licensed Product, Licensed Service, Licensed Process or Licensed Biological
Material, or (ii) in the event a Licensed Service utilizes or incorporates a Licensed Product or Licensed Process, on which royalties are payable hereunder. 

5.5 Arms-Length Transactions. On sales of Licensed Products, Licensed Services, Licensed Processes, or Licensed Biological Materials
which are made in other than an arm’s-length transaction, the value of the Net Sales attributed under this Section 5 to such a transaction shall be that which would have been received in an arm’s-length transaction, based on sales of
like quality and quantity products on or about the time of such transaction. Notwithstanding the foregoing, no royalty shall be payable on sales of Licensed Products, Licensed Services, Licensed Processes or Licensed Biological Materials among
Licensee and its Sublicensees where such sales are not for end use by Licensee or its Sublicensees, nor shall a royalty be payable for any of the foregoing which are distributed in research and/or development or as part of a clinical trial or as
promotional free samples. 
 5.6 Duration of Royalty Obligations. The royalty obligations of Licensee as to each Licensed Product,
Licensed Process or Licensed Service shall terminate (a) on a country-by-country basis concurrently with the expiration of the last to expire of a Valid Claim within Licensed Patent Rights that covers such Licensed Product, Licensed Process or
Licensed Service; or (b) for a Licensed Product, Licensed Process, or Licensed Service which is not covered by a Valid Claim within Licensed Patent Rights, but utilizes or incorporates a Licensed Biological Material, fifteen (15) years
after the date of the first commercial sale or such Licensed Product, Licensed Process, or Licensed Service; and (c) for Licensed Biological Materials, fifteen (15) years from the date of first commercial sale. 

5.7 Combination Products. 

5.7.1 Definition of Combination Product. As used herein, the term “Combination Product” shall mean a Licensed Product,
Licensed Process or Licensed Service, as applicable, which cannot be manufactured, used, offered to sell, or sold without (a) infringing Licensed Patent Rights, and (b) utilizing one or more patents of (i) a third party’s patent
rights which are licensed pursuant to an agreement between Licensee and such third party, or (ii) TSRI under a license agreement other than this Agreement (collectively referred to herein as “Other Patent Rights”). 

5.7.2 Royalty Payable on Combination Products. The royalty payable by Licensee for sales by Licensee or its Affiliates of a Combination
Product shall be the royalty rate set forth in 

  
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7 

 
Section 5.1 (Royalties on Net Sales) above applied to a pro rata portion of Net Sales of Combination Products in accordance with the following formula: 

[***] 
 [***] 

[***] 
 [***] 

The fair market values described above shall be determined by the parties hereto in good faith. In the absence of agreement as to the fair market value of all
of the components contained in a Combination Product, the fair market value of each component shall be determined by arbitration in accordance with the provisions of Section 14.9 (Arbitration) hereof. Notwithstanding the foregoing, in no event
shall the royalty payable by Licensee for sales by Licensee or its Affiliates of a Combination Product be less than [***] of the royalty otherwise payable as set forth in Section 5.1 (Royalties on Net Sales) above. 

5.8 Royalty Payments Timing. Royalties payable pursuant to Section 5 herein shall be payable by Licensee quarterly, within sixty
(60) days after the end of each calendar quarter, based upon Net Sales and Sublicensing Revenues accrued during the immediately preceding calendar quarter. 

6. Reports on Progress, Sales or Payments. 

6.1 Commercial Development Plan. 

6.1.1 Commercial Development Plan; Human Therapeutics, Human Diagnostics, and Human Imaging Reagents. On or before the expiration of
ninety (90) days from the Effective Date, Licensee shall provide to TSRI a plan for the commercial development of the subject matter of the Licensed Patent Rights, for the purpose of bringing such subject matter to the point of commercial use
in the marketplace (the “Commercial Development Plan”). The Commercial Development Plan is hereby incorporated by reference into this Agreement. The Commercial Development Plan submitted by Licensee shall, at a minimum, provide that: 

(a) during the first two (2) years after the Effective Date, Licensee shall (itself or through Sublicensees or others) spend at least
[***] applicable to the research and development efforts identified in the Commercial Development Plan; 
 (b) in years three (3) to
five (5), Licensee shall (itself or through Sublicensees or others) spend at least [***] per year for the research, development, sales and marketing of Licensed Products; 

(c) reasonable commercialization obligations in subsequent years; and 

(d) milestones or other benchmarks (“Benchmarks”) to measure progress against plan. 

  
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8 

 6.1.2 Commercial Development Plan; Research Tools. Concurrently with delivering the notice
of intent to market and sell Licensed Product, Licensed Processes or Licensed Services, or any of them, in the Research Tool Sub-Field, and the commencement of good faith negotiations to determine the appropriate royalties for Research Tools as
described in Section 5.1.2, Licensee shall provide to TSRI a Commercial Development Plan for the commercial development of Research Tools, for the purpose of bringing Research Tools to the point of commercial use in the marketplace. Said
Commercial Development Plan for Research Tools shall, at a minimum, reaffirm Licensee’s intent and plan to develop and make Research Tools, and to make Research Tools readily and presently available for sale to the research community on
commercially reasonable terms. In the event that Licensee does not present a Commercial Development Plan for the commercial development of Research Tools on or before December 31, 2004, TSRI shall have the right (but not the obligation) to
convert the exclusive license with respect to Research Tools to a nonexclusive license, as permitted in Section 6.3 (Right to Reduce Field or Convert to Nonexclusive License) below. Such proposed Commercial Development Plan shall also describe
reasonable commercialization obligations, milestones and benchmarks to measure progress of commercialization thereof. TSRI may not unreasonably withhold approval of any such proposed Commercial Development Plan. 

6.1.3 Commercial Development Plan; Other. Concurrently with delivering the notice of intent to market and sell Licensed Products,
Licensed Processes or Licensed Services, or any of them, in the Other Sub-Field and the commencement of good faith negotiations to determine the appropriate royalties for such Licensed Products, Licensed Processes or Licensed Services in the Other
Sub-Field, as described in Section 5.1.2, Licensee shall provide to TSRI a Commercial Development Plan for the commercial development of such Licensed Products, Licensed Processes or Licensed Services in the applicable Other Sub-Field, for the
purpose of bringing such Licensed Products, Licensed Processes or Licensed Services in the applicable Other Sub-Field to the point of commercial use in the marketplace. Such proposed Commercial Development Plan shall describe reasonable
commercialization obligations, milestones and benchmarks to measure progress of commercialization thereof. TSRI may not unreasonably withhold approval of any such proposed Commercial Development Plan. 

6.2 Progress Reports on Commercial Development Plan. 

(a) Licensee shall provide written annual reports on its product development progress or efforts to commercialize under the applicable
Commercial Development Plan for each of the Sub-Fields within thirty (30) days after the anniversary of the Effective Date of each year. While these reports shall be treated as the Confidential Information of Licensee, Licensee recognizes that
TSRI may be required to disclose certain aspects of the information included with the progress reports to comply with, and hereby consents to disclosures reasonably necessary to comply with, statutory and regulatory reporting requirements. 

(b) Each progress report in a particular Sub-Field will, until the first commercial sale of a Licensed Product within such Sub-Field, include,
but not be limited to the following topics: (a) progress on research and development, (b) status of applications for regulatory approvals, (c) manufacturing, (d) sublicensing, (e) marketing, and (f) sales. Such topics
shall describe events during the preceding year as well as plans for the upcoming year. Each progress reports in a particular Sub-Field will, from and after the first commercial sale of a Licensed Product within such Sub-Field, include only such
information as is reasonably necessary to enable TSRI to comply with governmental reporting requirements applicable to TSRI. TSRI also encourages all progress reports to include information on any of Licensee’s public service activities that
relate to the Licensed Patent Rights. 
 (c) If reported progress differs materially from that projected in the applicable Commercial
Development Plan, Licensee shall explain the reasons for such differences. In any such 

  
 9 

 
annual report, Licensee may propose amendments to the applicable Commercial Development Plan, acceptance of which by TSRI may not be denied unreasonably. Licensee agrees to provide any additional
information reasonably required by TSRI to evaluate Licensee’s performance under this Agreement. Licensee may amend the milestones included within the Commercial Development Plan at any time upon written consent by TSRI, which consent shall not
be unreasonably withheld. TSRI shall not unreasonably withhold approval of any request of Licensee to extend the time periods of the schedule described in the Commercial Development Plan if such request is supported by a reasonable showing by
Licensee of diligence in its performance under the Commercial Development Plan and toward bringing the Licensed Product to the point of commercial use. 

6.3 Right to Reduce Field or Convert License to Nonexclusive. At any time during the term hereof, commencing two (2) years after
the Effective Date of this Agreement, TSRI may provide Licensee with written notice of intent to reduce the scope of the Field (by eliminating an applicable Sub-Field) or to render the license set forth in Section 3 (Grant of License)
non-exclusive with respect to an applicable Sub-Field if, in TSRI’s reasonable judgment, the progress reports furnished by Licensee do not demonstrate that Licensee: (a) has put the licensed subject matter into commercial use in the
country or countries hereby licensed, directly or through a Sublicense, and is keeping the license subject matter reasonably available to the public; or (b) is engaged in research, development, manufacturing, marketing or sublicensing activity
appropriate to achieving the goals set forth in the Commercial Development Plan. TSRI shall not have the right to deliver such notice if and to the extent Licensee shall have achieved the applicable Benchmark with respect to the applicable Sub-Field
specified in the then-current Commercial Development Plan. Upon the receipt of such notice, the parties shall meet, discuss and negotiate in good faith what, if any, reduction to the scope of the Field or conversion of the license set forth in
Section 3 (Grant of License) to non-exclusive, is appropriate under the circumstances. The failure of the parties to agree upon the expiration of ninety (90) days from delivery of such notice shall give either party the right to demand
arbitration under the terms of Section 14.9 (Arbitration) below. 
 6.4 Reports on Net Sales and Sublicensing Revenues. Licensee
shall submit to TSRI, no later than sixty (60) days after then end of each calendar quarter, a royalty report (the “Royalty Report”) setting forth the following information for the preceding calendar quarter: 

(a) the number of Licensed Products sold by Licensee and its Affiliates; 

(b) the total billings for such Licensed Products; 

(c) an accounting for all Licensed Processes used or sold by Licensee and its Affiliates; 

(d) an accounting of all revenues received by Licensee for Licensed Services performed; 

(e) the amount of Licensed Biological Materials sold by Licensee and its Affiliates; 

(f) the total billings for such Licensed Biological Materials; 

(g) deductions applicable to determine the Net Sales; 

(h) the amount and composition of Sublicensing Revenues that Licensee receives from its Sublicensees; 

  
 10 

 (i) the amount of royalty due thereon, or if no royalties are due to TSRI for any reporting
period, the statement that no royalties are due. 
 Such Royalty Report shall be certified as correct by an officer of Licensee and shall include a detailed
listing of all deductions from royalties. 
 6.5 Royalty Payments. Licensee agrees to pay and shall pay to TSRI with each Royalty
Report the amount of royalty due with respect to such calendar quarter. If multiple technologies are covered by the license granted hereunder, Licensee shall specify which Licensed Patent Rights and Licensed Biological Materials are utilized for
each Licensed Product, Licensed Process, and/or Licensed Service included in the Royalty Report. All payments due hereunder shall be deemed received when funds are credited to TSRI’s bank account and shall be payable by check or wire transfer
in United States dollars. 
 6.6 Foreign Sales. The remittance of royalties payable on Net Sales or Sublicensing Revenues outside the
United States shall be payable to TSRI in United States Dollar equivalents at the official rate of exchange of the currency of the country from which the royalties are payable, as quoted in the Wall Street Journal for the last business day of the
calendar quarter in which the royalties are payable. If the transfer of or the conversion into the United States Dollar equivalents of any such remittance in any such instance is not lawful or possible, the payment of such part of the royalties as
is necessary shall be made by the deposit thereof, in the currency of the country where the sale was made on which the royalty was based to the credit and account of TSRI or its nominee in any commercial bank or trust company of TSRI’s choice
located in that country, prompt written notice of which shall be given by Licensee to TSRI. 
 6.7 Foreign Taxes. Any tax required to
be withheld by Licensee under the laws of any foreign country for the accounts of TSRI shall be promptly paid by Licensee for and on behalf of TSRI to the appropriate governmental authority, and Licensee shall use its diligent efforts to furnish
TSRI with proof of payment of such tax together with official or other appropriate evidence issued by the applicable government authority. Any such tax actually paid on TSRI’s behalf shall be deducted from royalty payments due TSRI. 

7. Record Keeping. 
 7.1 Maintenance
of Records. Licensee shall keep, and shall require its Affiliates to keep, accurate records (together with supporting documentation) of Licensed Products, Licensed Services, Licensed Processes and Licensed Biological Materials made, used or sold
under this Agreement, appropriate to determine the amount of royalties due to TSRI hereunder. Such records shall be retained for at least five (5) years following the end of the reporting period to which such records relate. 

7.2 Examination of Records. The records shall be available during normal business hours for examination by an accountant selected by
TSRI, for the sole purpose of verifying reports and payments hereunder. In conducting examinations pursuant to this Section, TSRI’s accountant shall have access to, and may disclose to TSRI, all records which TSRI reasonably believes to be
relevant to the calculation of royalties under Section 5. All such information received by TSRI’s accountant and disclosed to TSRI shall be deemed Confidential Information of Licensee. Except as set forth above, TSRI’s accountant
shall not disclose to TSRI any information other than information relating to the accuracy of reports and payments made hereunder. 
 7.3
Expenses for Examination; Interest Charge. Such examination by TSRI’s accountant shall be at TSRI’s expense, except that if such examination shows an underreporting or underpayment in

  
 11 

 
excess of [***] for any twelve (12) month period, then Licensee shall pay the cost of such examination as well as any additional sum that would have been payable to TSRI had the Licensee
reported correctly, plus interest on said sum at the rate of [***] per month. All payments due hereunder shall be made within fifteen (15) days of receipt of a written demand from TSRI. 

8. Patent Matters. 
 8.1 Patent
Prosecution and Maintenance. From and after the date of this Agreement, the provisions of this Section 8 (Patent Matters) shall control the prosecution and maintenance of any patent included within Licensed Patent Rights. Subject to the
requirements, limitations and conditions set forth in this Agreement, TSRI shall (a) direct and control the preparation, filing and prosecution of the United States and foreign patent applications within Licensed Patent Rights (including any
reissues, reexaminations, appeals to appropriate patent offices and/or courts, interferences and foreign oppositions); and (b) maintain the patents issuing therefrom. TSRI shall select the patent attorney, subject to Licensee’s written
approval, which approval shall not be unreasonably withheld. Both parties hereto agree that TSRI may, at its sole discretion, utilize TSRI’s Office of Patent Counsel in lieu of or in addition to independent counsel for patent prosecution and
maintenance described herein, and the fees and expenses incurred by TSRI with respect to work done by such Office of Patent Counsel and/or independent counsel shall be paid as set forth below. Licensee shall have full rights of consultation with the
patent attorney so selected on all matters relating to Licensed Patent Rights. TSRI shall use its best efforts to implement all reasonable and timely requests made by Licensee with regard to the preparation, filing, prosecution and/or maintenance of
the patent applications and/or patents within Licensed Patent Rights. So long as Licensee agrees to pay, and in fact pays, costs in accordance with the provisions of this Section 8 (Patent Matters), TSRI shall apply for, prosecute and maintain
such patents and obtain such Licensed Patent Rights as Licensee shall reasonably request. 
 8.2 Information to Licensee. TSRI shall
keep Licensee timely informed with regard to the patent application and maintenance processes. TSRI shall deliver to Licensee copies of all patent applications, amendments, related correspondence, and other related matters in a timely matter. TSRI
shall use its best efforts to (i) promptly provide copies to Licensee of all correspondence received from the relevant patent office or authority (the “PTO”); (ii) promptly provide copies to Licensee of all correspondence
directed to the PTO prior to submission of such correspondence (including, but not limited to, patent applications, responses to office actions, and any amendments); (iii) allow Licensee thirty (30) days to comment on any such
correspondence directed to the PTO; and (iv) incorporate Licensee’s comments in any such correspondence. 
 8.3 Patent
Costs. Licensee acknowledges and agrees that the license granted hereunder is in partial consideration for Licensee’s assumption of patent costs and expenses as described herein. Subject to the provisions of Section 8.5 (Abandonment),
Licensee agrees to pay and shall pay for all expenses incurred pursuant to Section 8.1 (Patent Prosecution and Maintenance) hereof. In addition, Licensee agrees to reimburse and shall reimburse TSRI for all patent costs and expenses paid or
incurred in connection with Licensed Patent Rights. Licensee agrees to pay and shall pay all such past and future patent expenses within thirty (30) days after Licensee receives an itemized invoice therefor. Payment can be made directly to
independent counsel, or to TSRI. 
 8.4 Ownership. The patent applications filed and the patents obtained by TSRI pursuant to
Section 8.1 (Patent Prosecution and Maintenance) hereof shall be owned solely by TSRI, assigned solely to TSRI and deemed a part of Licensed Patent Rights. 

  
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 8.5 Abandonment. 

8.5.1 Abandonment by Licensee. Licensee may elect, with a minimum of ninety (90) days prior written notice to TSRI, to discontinue
payment for the filing, prosecution and/or maintenance of any patent application and/or patent within Licensed Patent Rights on a country-by-country basis. Licensee shall remain liable for all patent prosecution and maintenance costs incurred prior
to the date of notice of election and for a ninety (90) day period following date of such notice. Any patent application or patent in any country for which Licensee elects to discontinue payment shall, upon the expiration of such 90-day period,
be converted to a non-exclusive license in such country for purposes of this Agreement, and non-exclusive rights relating thereto in such country shall revert to TSRI and may be freely licensed on a non-exclusive basis by TSRI. In the event that
TSRI shall receive in a country an offer to license such reverted technology on an exclusive basis in exchange for, among other things, payment of patent costs and expenses for such technology in such country, then, if TSRI desires to accept such
opportunity, TSRI shall provide Licensee with written notice of such exclusive license opportunity. Licensee shall have fifteen (15) business days within which to elect to assume payment of all patent costs and expenses (as described in
Section 8.3 (Patent Costs) above) on account of such technology in such country, in which event the license granted in Section 3 (Grant of License) above shall again be an exclusive grant. If Licensee does not provide TSRI with written
notice of intent to assume patent costs and expenses (as described in Section 8.3 (Patent Costs) above), then TSRI shall have the right to license such technology in such country to such entity on an exclusive basis, and all rights relating
thereto in such country shall revert to TSRI. 
 8.5.2 Default by Licensee. Failure of Licensee to pay patent costs and expenses as
set forth in Section 8.3 (Patent Costs) shall, upon the expiration of three (3) business days notice from TSRI without payment, relieve TSRI from its obligation to incur any further patent costs and expenses. For the avoidance of doubt,
should Licensee be in arrears for any patent costs and expenses due TSRI or independent counsel, TSRI shall have the right, at its sole discretion, upon the expiration of such 3-business day period to cease all patent prosecution and allow Licensed
Patent Rights to go abandoned. Such action by TSRI shall not constitute a breach of this Agreement. 
 8.5.3 Termination. If at any
time during the term of this Agreement, Licensee’s rights with respect to Licensed Patent Rights are terminated, TSRI shall have the right to take whatever action TSRI deems appropriate to obtain or maintain the corresponding patent protection.
If TSRI pursues patents under this Section 8.5.3 (Termination), Licensee agrees to cooperate fully, including by providing at no charge to TSRI, all appropriate technical data and executing all necessary legal documents reasonably necessary for
TSRI to pursue such patent protection. All information or technical data delivered by Licensee to TSRI shall be deemed Confidential Information of Licensee hereunder. 

8.6 Infringement Actions. 

8.6.1 Notice. Licensee and TSRI shall each inform the other promptly in writing of any substantial infringement by a third party of the
Licensed Patent Rights covering Licensed Products, Licensed Services and/or Licensed Processes which comes to their attention and of any available evidence thereof. 

8.6.2 Licensee’s Right to Sue. During the term of this Agreement, the parties shall consult with each other regarding the
infringement of any patent within Licensed Patent Rights. During or following said consultation, Licensee shall have the first and sole right to take steps to abate the infringement and/or to institute, prosecute and control at its own expense any
action or proceeding with respect to any infringement of such patent by a third party and, in furtherance of such right, TSRI hereby agrees that Licensee may include and join TSRI as a party plaintiff in any such suit, without expense to

  
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TSRI. If Licensee determines that such action against an infringer would be commercially unreasonable, then Licensee may elect to not take any such action or institute any such proceeding. In
this regard, Licensee shall be entitled to use its reasonable commercial discretion in determining (a) whether to contact and/or institute any action or proceeding against an alleged third party infringer; (b) the timing of any contact
with an alleged third party infringer and/or action or proceeding to be instituted against an alleged third party infringer; (c) the venue of any action or proceeding to be instituted against an alleged third party infringer; and
(d) should there be more than one alleged third party infringer, which alleged infringer to contact regarding its alleged infringement or against whom any action or proceeding is to be brought, it being further understood and agreed that,
during such time as Licensee is pursuing any action or proceeding against one alleged third party infringer, Licensee shall have no obligation to contact and/or pursue additional alleged infringers. 

8.6.3 TSRI’s Right to Sue. If, in the case of a third party infringement for which Licensee decides not to pursue an action and
provides TSRI its reasons why such action is commercially unreasonable, TSRI disagrees with Licensee’s assessment that such actions are commercially unreasonable, and TSRI desires to pursue an action to prevent such infringement, then TSRI may
initiate an arbitration as provided in Section 14.9 (Arbitration) below for a determination of whether Licensee’s position is correct that it is commercially unreasonable to take action against such infringer. In the event such arbitrator
finds that Licensee’s reasons for not pursuing an action are legitimate (i.e., that an action would be commercially unreasonable), then Licensee shall have no further obligation with respect thereto. In the event such arbitrator finds that
Licensee’s reasons are insufficient and that an action would be commercially reasonable, then Licensee or its Sublicensee, at Licensee’s option, may pursue an action against such third party infringer. In the event that Licensee or its
Sublicensee does not pursue such action, then TSRI shall have the right to pursue the infringement action against such third party infringer, in which case TSRI shall indemnify, defend and hold Licensee harmless from any costs, expenses or liability
respecting all such actions undertaken by TSRI. In the event that TSRI does take action against such third party infringer, then Licensee will pay up to [***] of TSRI’s litigation expenses, including reasonable attorney’s fees. In the
event that TSRI recovers money as a result of a judgment or settlement in such action, Licensee shall receive [***] of such judgment or settlement, after reimbursement to TSRI and Licensee of the litigation expenses borne by each. Alternatively, at
Licensee’s option, Licensee may terminate its license as to the patents within Licensed Patent Rights that are the subject of such action upon written notice to TSRI. If TSRI takes no action against such third party infringer, then Licensee
will have no obligation to TSRI. 
 8.6.4 Licensee’s Action. In the event that Licensee determines to bring suit against an
alleged third party infringer, any recovery of damages shall be distributed pursuant to Section 8.6.5 below. In the event such infringement adversely affects the scope or validity of the Licensed Patent Rights, no settlement, consent judgment
or other voluntary disposition of any such suit may be entered into without the consent of TSRI, which consent shall not be unreasonably withheld or delayed. TSRI shall have fifteen (15) days from the date of Licensee’s written notice to
TSRI either to consent or object in writing, stating in reasonable detail the reasons for withholding consent. No response within such period shall be deemed to constitute TSRI’s consent. Licensee shall indemnify TSRI against any order for
costs that may be made against TSRI as a result of any action or inaction by Licensee in such proceedings. Notwithstanding the foregoing, TSRI may elect at its option to participate in the prosecution of any such infringement action through counsel
of its own choice at its own expense. 

  
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14 

 8.6.5 Recovery by Licensee. In the event Licensee shall undertake the enforcement of the
Licensed Patent Rights covering the Licensed Products, Licensed Services, or Licensed Processes, any recovery of damages by Licensee as a result of a judgment or settlement in such action, shall first be applied in satisfaction of any litigation
expenses of Licensee and TSRI relating to such suit, and TSRI shall receive [***] of the balance remaining from any such recovery. 
 8.6.6
Cooperation. In any infringement suit which either party may institute to enforce the Licensed Patent Rights pursuant to this Agreement, or in a suit for patent infringement which is brought by a third party against TSRI or Licensee, which
either party or both parties are required or elect to defend, the other party hereto shall, at the request and the expense of the party initiating or defending such suit, cooperate in all reasonable respects and, to the extent reasonably possible,
have its employees testify when requested and make available relevant records, papers, information, samples, specimens and the like. 

8.6.7 Settlement Sublicense. Licensee shall have the sole right, subject to the terms and conditions hereof, to sublicense any alleged
infringer for past or future use of the Licensed Patent Rights and Licensed Technology for Licensed Products, Licensed Services, or Licensed Processes. Any upfront fees paid to Licensee as part of a sublicense made in settlement of the infringement
action shall be applied first in satisfaction of any expenses and legal fees of Licensee relating to such suit and the balance remaining from any such recovery distributed as set forth in Section 5.2 (Royalties on Sublicensing Revenues). 

8.7 Infringement Defense. Licensee shall have the first right, but not the obligation, to defend any suits against Licensee or
Sublicensees alleging infringement of any third party patent right due to the development and/or commercialization of Licensed Products, Licensed Services or Licensed Processes by Licensee. If the alleged infringement results from the exercise of
Licensed Patent Rights and not solely from the exercise of any other patent rights owned or controlled by Licensee, then this Section shall apply. Licensee shall promptly notify TSRI, and TSRI and Licensee shall confer with each other and cooperate
during the defense of any such action. If Licensee finds it necessary or desirable for TSRI to become a party to such action, TSRI shall execute all papers or perform such other acts as may reasonably be required by Licensee. Licensee shall bear the
costs and expenses associated with any such suit or action. TSRI shall be entitled to, at its expense, participate in and have counsel selected by it participate in any such action. In no event shall TSRI have any out-of-pocket liability for costs
of litigation or royalties, damages and/or settlement amounts due to any third party (except for costs of its own counsel as provided above). If the third party patent right is held not to be infringed, unenforceable or invalid, by a court or other
tribunal from which no appeal can be or is taken, any recovery of damages for such suit shall be applied first in satisfaction of any fees and expenses of TSRI and Licensee, on a pro rata basis, and Licensee shall be entitled to keep the balance
remaining from any such recovery. 
 8.8 Validity Challenge. If a third party challenges the validity of the Licensed Patent Rights
in a declaratory relief action or proceeding, in an opposition action, in an interference action or proceeding or other than in connection with a suit or proceeding described in Section 8.6 (Infringement Actions), Licensee and TSRI shall confer
regarding the need and desirability of defending such challenge, and each party may apply its own business judgment as to whether to defend any litigation applicable to the challenge. In the event that Licensee elects to defend the Licensed Patent
Rights against a challenge to the validity of the Licensed Patent Rights, Licensee shall assume responsibility to defend against that challenge, in consultation with TSRI. 

  
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15 

 9. Indemnity and Insurance. 

9.1 Indemnity. 
 (a)
Licensee hereby agrees to indemnify, defend and hold harmless TSRI and any parent, subsidiary or other affiliated entity and their trustees, officers, employees, scientists and agents (collectively, the “Indemnitees”) from and against any
liability or expense arising from any product liability claim asserted by any party as to any Licensed Product or any claims arising from the use of any Licensed Patent Rights or Licensed Biological Materials pursuant to this Agreement. Such
indemnity and defense obligation shall apply to any product liability or other claims, including without limitation, personal injury, death or property damage, made by employees, subcontractors, sublicensees, or agents of Licensee, as well as any
member of the general public. Licensee shall use its reasonable efforts to have TSRI and any parent, subsidiary or other affiliated entity and their trustees, officers, employees, scientists and agents named as additional insured parties on any
product liability insurance policies maintained by Licensee, its Affiliates and Sublicensees applicable to Licensed Products. 
 (b)
Licensee shall, at its own expense, provide attorneys reasonably acceptable to TSRI to defend against any actions brought or filed against any Indemnitee hereunder with respect to the subject of indemnity contained herein, whether or not such
actions are rightfully brought. 
 9.2 Insurance. 

(a) Beginning at the time any such Licensed Product, Licensed Process, or Licensed Service is being commercially distributed or sold (other
than for the purpose of obtaining regulatory approvals) by Licensee or by a Sublicensee, Licensee shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than $2,000,000 per incident and
$2,000,000 annual aggregate, and Licensee shall use reasonable efforts to have the Indemnitees named as additional insureds. During clinical trials of any such product, process or service, Licensee shall, at its sole cost and expense, procure and
maintain commercial general liability insurance in such equal or lesser amount as TSRI shall reasonably require, and Licensee shall use reasonable efforts to have the Indemnitees named as additional insureds. Such commercial general liability
insurance shall provide (i) product liability coverage; (ii) broad form contractual liability coverage for Licensee’s indemnification under this Agreement; and (iii) coverage for litigation costs. If Licensee elects to self-insure all or part of the limits described above (including deductibles or retentions which are in excess of $250,000 annual aggregate) such self-insurance program must
be acceptable to TSRI in its reasonable discretion. The minimum amounts of insurance coverage required shall not be construed to create a limit of Licensee’s liability with respect to its indemnification under this Agreement. 

(b) Licensee shall provide TSRI with written evidence of such insurance upon request of TSRI. Licensee shall provide TSRI with written notice
at least fifteen (15) days prior to the cancellation, non-renewal or material change in such insurance. 

(c) Licensee shall maintain such commercial general liability insurance beyond the expiration or termination of this Agreement during
(a) the period that any Licensed Product, Licensed Process, or Licensed Service relating to, or developed pursuant to, this Agreement is being commercially distributed or sold by Licensee or by a Sublicensee, Affiliate or agent of Licensee; and
(b) a reasonable period after such period, which in no event shall be less than fifteen (15) years. 
 (d) The failure of Licensee
to obtain insurance as required by this Section 9 (Indemnity and Insurance) shall not be a default hereunder unless TSRI can show that insurance or replacement insurance providing comparable coverage as that described in this Section 9 is
available at 

  
 16 

 
reasonable cost, with reasonable coverage and reasonable deductions. The failure of the parties to agree shall give either party a right to demand arbitration under Section 14.9
(Arbitration) below. 
 10. Limited Warranty; Liability Limitations. 

10.1 Authority Warranty. TSRI hereby represents and warrants that it has full authority, right and power to enter into this Agreement.

 10.2 Ownership Warranty. TSRI hereby represents and warrants that it has the right, title and interest necessary and appropriate
to grant the licenses set forth in Section 3 (Grant of License). TSRI further represents and warrants that it has not previously entered into any written agreement to license or otherwise grant rights to use any of the Licensed Patent Rights or
Licensed Biological Materials, other than as specified in this Agreement (including specifically Sections 3.8, 3.9, and 3.10). 
 10.3
Disclaimers. EXCEPT AS SET FORTH IN SECTIONS 10.1 AND 10.2 ABOVE, TSRI MAKES NO OTHER WARRANTIES CONCERNING LICENSED PATENT RIGHTS, LICENSED BIOLOGICAL MATERIALS OR LICENSED TECHNOLOGY COVERED BY THIS AGREEMENT, INCLUDING WITHOUT
LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE AS TO LICENSED PATENT RIGHTS, LICENSED BIOLOGICAL MATERIALS, OR ANY LICENSED TECHNOLOGY, LICENSED PRODUCT, LICENSED PROCESS, OR LICENSED SERVICE. TSRI
MAKES NO WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE OF LICENSED PATENT RIGHTS, OR THAT ANY LICENSED PRODUCT WILL BE FREE FROM AN INFRINGEMENT ON PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES ARE
IN ANY WAY INFRINGING LICENSED PATENT RIGHTS, LICENSED TECHNOLOGY OR LICENSED BIOLOGICAL MATERIALS COVERED BY THIS AGREEMENT. FURTHER, TSRI HAS MADE NO INVESTIGATION AND MAKES NO REPRESENTATION THAT THE BIOLOGICAL MATERIALS SUPPLIED BY IT OR THE
METHODS USED IN MAKING OR USING SUCH MATERIALS ARE FREE FROM LIABILITY FOR PATENT INFRINGEMENT. 
 10.4 Limits on Liability. IN NO
EVENT SHALL TSRI BE LIABLE FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL 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 TSRI KNOWS OR SHOULD KNOW OF THE POSSIBILITY OF SUCH DAMAGES. TSRI’S AGGREGATE LIABILITY FOR ALL DAMAGES OF ANY KIND RELATING TO THIS AGREEMENT OR ITS SUBJECT MATTER
SHALL NOT EXCEED THE AMOUNT PAID BY LICENSEE TO TSRI UNDER THIS AGREEMENT. THE FOREGOING EXCLUSIONS AND LIMITATIONS SHALL APPLY TO ALL CLAIMS AND ACTIONS OF ANY KIND, WHETHER BASED ON CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO NEGLIGENCE), OR ANY
OTHER GROUNDS. 
 11. Confidentiality and Publication. 

11.1 Treatment of Confidential Information. The parties agree that during the term of this Agreement, and for a period of five
(5) years after this Agreement terminates, a party receiving Confidential Information of the other party will (a) maintain in confidence such Confidential Information to the same extent such party maintains its own proprietary information;
(b) not disclose such Confidential Information to any third party without prior written consent of the other party; and (c) not use such Confidential Information for any purpose except those permitted by this Agreement. Notwithstanding the
foregoing, Licensee may disclose Confidential Information of TSRI, with suitable 

  
 17 

 
protections in place, to the extent reasonably necessary to exploit the right and license granted to Licensee hereunder (including the right to authorize and grant sublicenses). 

11.2 Publications. Licensee agrees that TSRI shall have a right to publish in accordance with its general policies, and that this
Agreement shall not restrict, in any fashion, TSRI’s right to publish. 
 11.3 Publicity. Except as otherwise provided herein or
required by law, no party shall originate any publication, news release or other public announcement, written or oral, whether in the public press, public stockholders’ reports, or otherwise, relating to this Agreement or to any Sublicense
hereunder, or to the performance hereunder or any such agreements, without the prior written approval of the other party, which approval shall not be unreasonably withheld. Scientific publications published in accordance with Section 11.2 of
this Agreement shall not be construed as publicity governed by this Section 11.3. Notwithstanding the foregoing, Licensee shall be entitled to furnish a copy of this Agreement to Licensee’s shareholders, prospective investors and
professional advisors, to other parties with whom Licensee has or is evaluating a business relationship, under reasonable conditions of confidentiality, and to the U.S. Securities & Exchange Commission. 

12. Term and Termination. 
 12.1
Term. Unless terminated sooner in accordance with the terms set forth herein, this Agreement, and the license granted hereunder, shall terminate as provided in Section 5.6 hereof. 

12.2 Termination Upon Mutual Agreement. This Agreement may be terminated by mutual written consent of both parties. 

12.3 Termination by TSRI. TSRI may terminate this Agreement as follows: 

(a) If Licensee does not make a payment due hereunder and fails to cure such non-payment (including the payment of interest in accordance with
Section 14.2) within thirty (30) days after the date the notice in writing of such non-payment is received by Licensee; 
 (b) If
Licensee defaults in its indemnification obligations under Section 9 and fails to cure said default within sixty (60) days after the date the notice in writing of such default is received by Licensee; 

(c) If Licensee defaults in the performance of any material obligation under this Agreement and the default has not been remedied within sixty
(60) days after the date the notice in writing of such default is received by Licensee; provided however, that if Licensee disputes an asserted breach in writing within such sixty (60) day period, TSRI shall not have the right to terminate
this Agreement unless and until it has been determined in an arbitration proceeding under Section 14.9 below that this Agreement was materially breached, and Licensee fails to cure such breach within seven (7) days after such
determination; 
 (d) If by the first anniversary of the Effective Date, Licensee has not secured at least [***] in investment funding,
which termination is effective upon the expiration of thirty (30) days after written notice by TSRI; 

  
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18 

 (e) If Licensee shall become insolvent, shall make an assignment for the benefit of creditors, or
shall have a petition in bankruptcy filed for or against it, which petition shall not have been dismissed upon the expiration of sixty (60) days after its filing. Such termination shall be effective immediately upon TSRI giving written notice
to Licensee at the occurrence of such event; 
 (f) If Licensee is convicted of a felony relating to the manufacture, use or sale of
Licensed Products, Licensed Services, Licensed Processes or Licensed Biological Material. 
 12.4 Termination by Licensee. Licensee
may terminate this Agreement in its entirety, or as to any particular patent application or patent within the Licensed Patent Rights, (a) without cause, by giving ninety (90) days advance written notice of termination to TSRI or
(b) in accordance with the provisions of Section 8.5 (Abandonment) above. From and after the effective date of a termination under this Section 12.4 (Termination by Licensee) with respect to a particular patent application or patent,
such patent application or patent in the particular country or countries shall cease to be within the Licensed Patent Rights for all purposes of this Agreement. 

12.5 Rights Upon Expiration. Neither party shall have any further rights or obligations upon the expiration of this Agreement upon its
regularly scheduled expiration date with respect to this Agreement, other than the obligation of Licensee to make any and all reports and payments for the final quarterly reporting period, and the right of Licensee (and its Sublicensees) to continue
to practice and use, on a royalty-free basis, the Licensed Patent Rights and the Licensed Technology. Further, upon such expiration, each party shall be required to continue to abide by its non-disclosure obligations as described in Section 11.1. The right of TSRI to audit pursuant to Section 7, and the parties’ respective obligations to indemnify as described in Section 9 hereof
shall also survive expiration. 
 12.6 Rights Upon Termination. Notwithstanding any other provision of this Agreement, upon any
termination of this Agreement prior to the regularly scheduled expiration date of this Agreement, the license granted hereunder shall terminate. Except as otherwise provided in Section 12.7 of this Agreement with respect to work-in-progress, upon such termination, Licensee shall have no further right to develop, manufacture or market any Licensed Product, Licensed Service, or Licensed Process, or
to otherwise use any Licensed Patent Rights or any Licensed Biological Materials. Upon any such termination, Licensee shall promptly return all materials, samples, documents, information, and other materials which embody or disclose Licensed Patent
Rights or any Licensed Biological Materials; provided, however, that Licensee shall not be obligated to provide TSRI with proprietary information which Licensee can show that it independently developed. Any such termination shall not relieve either
party from any obligations accrued to the date of such termination. Upon such termination, each party shall be required to abide by its nondisclosure obligations as described in Section 11.1. The right of TSRI to audit pursuant to
Section 7, and the parties’ respective obligations to indemnify as described in Section 9 hereof, and the rights of the U.S. Government as described in Section 3.8, hereof shall also survive termination. 

12.7 Work-in-Progress. Upon any such early termination
of the license granted hereunder in accordance with this Agreement, Licensee shall be entitled to finish any work-in-progress and to sell any completed inventory of a
Licensed Product covered by such license which remain on hand as of the date of the termination, so long as Licensee pays to TSRI the royalties applicable to said subsequent sales in accordance with the terms and conditions as set forth in this
Agreement, provided that no such sales shall be permitted after the expiration of six (6) months after the date of termination. 
 12.8
Final Royalty Report. Upon termination or expiration of this Agreement, Licensee shall submit a final report to TSRI, and any payments due TSRI and unreimbursed patent expenses invoiced by TSRI shall become immediately payable. 

  
 19 

 13. Assignment; Successors. 

13.1 Assignment. Any and all assignments of this Agreement or any rights granted hereunder by Licensee without the prior written
consent of TSRI are void; provided, however, in the event Licensee is acquired by a third party (e.g., by merger, consolidation or purchase of substantially all assets), then this Agreement may be assigned to said third party acquirer, without the
need for consent from TSRI, so long as the third party agrees to be bound by the terms of this Agreement. 
 13.2 Binding Upon Successors
and Assigns. Subject to the limitations on assignment herein, this Agreement shall be binding upon and inure to the benefit of any successors in interest and assigns of TSRI and Licensee. Any such successor or assignee of Licensee’s
interest shall expressly assume in writing the performance of all the terms and conditions of this Agreement to be performed by Licensee. 
 14. General
Provisions. 
 14.1 Independent Contractors. The relationship between TSRI and Licensee is that of independent contractors. TSRI
and Licensee are not joint venturers, partners, principal and agent, master and servant, employer or employee, and have no other relationship other than independent contracting parties. TSRI and Licensee shall have no power to bind or obligate each
other in any manner, other than as is expressly set forth in this Agreement. 
 14.2 Late Payments. Late payments of any and all
payments due hereunder shall be subject to a charge of [***] per month. 
 14.3 Governmental Approvals and Marketing of Licensed
Products. Licensee shall be responsible for obtaining all necessary governmental approvals for the development, production, distribution, sale and use of any Licensed Product, Licensed Service and/or Licensed Process, at Licensee’s expense,
including, without limitation, any safety studies. Licensee shall have sole responsibility for any warning labels, packaging and instructions as to the use of Licensed Products and for the quality control for any Licensed Product. 

14.4 Patent Marking. To the extent required by applicable law, Licensee shall mark all Licensed Products or their containers in
accordance with the applicable patent marking laws. 
 14.5 No Use of Name. The use of the name “The Scripps Research
Institute”, “Scripps”, “TSRI” or any variation thereof in connection with the advertising or sale of Licensed Products is expressly prohibited. 

14.6 U.S. Manufacture. To the extent required by applicable law, Licensee agrees to abide by the Preference for United States Industry
as set forth in 37 CFR 401.14 (I). 
 14.7 Foreign Registration. Licensee agrees to register this Agreement with any foreign
governmental agency which requires such registration, and Licensee shall pay all costs and legal fees in connection therewith. In addition, Licensee shall assure that all foreign laws affecting this Agreement or the sale of Licensed Products are
fully satisfied. 
 14.8 Use of Biological Materials. With respect to Licensee’s use of any Licensed Biological Materials,
Licensee hereby agrees to comply with all applicable statutes, regulations, and guidelines. 

  
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20 

 
Licensee agrees not to use the materials for research involving human subjects or clinical trials in the United States without complying with 21 CFR 50 and 45 CFR 46. Licensee agrees not to use
the materials for research involving human subjects or clinical trials outside of the United States without complying with the applicable regulations of the appropriate national control authorities. 

14.9 Arbitration. Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by
binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“AAA”), and the procedures set forth below. In the event of any inconsistency between the Rules of AAA and the procedures set
forth below, the procedures set forth below shall control. Judgment upon the award rendered by the arbitrators may be enforced in any court having jurisdiction thereof. 

14.9.1 Location. The location of the arbitration shall be in the County of San Diego. 

14.9.2 Selection of Arbitrators. The arbitration shall be conducted by a panel of three neutral arbitrators who are independent and
disinterested with respect to the parties, this Agreement, and the outcome of the arbitration. Each party shall appoint one neutral arbitrator, and these two arbitrators so selected by the parties shall then select the third arbitrator. If one party
has given written notice to the other party as to the identity of the arbitrator appointed by the party, and the party thereafter makes a written demand on the other party to appoint its designated arbitrator within the next ten days, and the other
party fails to appoint its designated arbitrator within ten days after receiving said written demand, then the arbitrator who has already been designated shall appoint the other two arbitrators. 

14.9.3 Discovery. Unless the parties mutually agree in writing to some additional and specific pre-hearing discovery, the only
pre-hearing discovery shall be (a) reasonably limited production of relevant and non-privileged documents, and (b) the identification of witnesses to be called at the hearing, which identification shall give the witness’s name,
general qualifications and position, and a brief statement as to the general scope of the testimony to be given by the witness. The arbitrators shall decide any disputes and shall control the process concerning these pre-hearing discovery matters.
Pursuant to the Rules of AAA, the parties may subpoena witnesses and documents for presentation at the hearing. 
 14.9.4 Case
Management. Prompt resolution of any dispute is important to both parties; and the parties agree that the arbitration of any dispute shall be conducted expeditiously. The arbitrators are instructed and directed to assume case management
initiative and control over the arbitration process (including scheduling of events, pre-hearing discovery and activities, and the conduct of the hearing), in order to complete the arbitration as expeditiously as is reasonably practical for
obtaining a just resolution of the dispute but in any event by the expiration of sixty (60) days from appointment of the arbitrators hereunder. 

14.9.5 Remedies. The arbitrators shall enforce the terms of this Agreement in accordance with applicable law. The arbitrators may grant
any legal or equitable remedy or relief that the arbitrators deem just and equitable, to the same extent that remedies or relief could be granted by a state or federal court, provided however, that no punitive damages may be awarded. No court action
may be maintained seeking punitive damages. The decision of any two of the three arbitrators appointed shall be binding upon the parties. 

14.9.6 Expenses. The expenses of the arbitration, including the arbitrators’ fees, expert witness fees, and attorney’s fees,
may be awarded to the prevailing party, in the discretion of the arbitrators, or may be apportioned between the parties in any manner deemed appropriate by the arbitrators. Unless and until the arbitrators decide that one party is to pay for all (or
a share) of such 

  
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expenses, both parties shall share equally in the payment of the arbitrators’ fees as and when billed by the arbitrators. 

14.9.7 Confidentiality. Except as set forth below, the parties shall keep confidential the fact of the arbitration, the dispute being
arbitrated, and the decision of the arbitrators. Notwithstanding the foregoing, the parties may disclose information about the arbitration to persons who have a need to know, such as directors, trustees, management employees, witnesses, experts,
investors, attorneys, lenders, insurers, and others who may be directly affected. Additionally, if a party has stock which is publicly traded, the party may make such disclosures as are required by applicable securities laws. Further, if a party is
expressly asked by a third party about the dispute or the arbitration, the party may disclose and acknowledge in general and limited terms that there is a dispute with the other party which is being (or has been) arbitrated. Once the arbitration
award has become final, the substance of the arbitrators’ decision may be disclosed. If the arbitrators’ decision and the arbitration award are not promptly satisfied, then these confidentiality provisions shall no longer be applicable.

 14.10 Entire Agreement; Modification. This Agreement sets forth the entire agreement and understanding between the parties as to
the subject matter hereof. There shall be no amendments or modifications to this Agreement, except by a written document which is signed by both parties. 

14.11 California Law. This Agreement shall be construed and enforced in accordance with the laws of the State of California without
regard to the conflicts of laws principles thereof. 
 14.12 Headings. The headings for 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. 

14.13 Severability. Should any one or more of the provisions of this Agreement be held invalid or unenforceable by arbitration or a
court of competent jurisdiction, it shall be considered severed from this Agreement and shall not serve to invalidate the remaining provisions thereof. 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. 
 14.14
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, excepting only as to an express written and signed waiver as to a particular matter for a particular period of time. 
 14.15
Name. Whenever there has been an assignment or a Sublicense by Licensee as permitted by this Agreement, the term “Licensee” as used in this Agreement shall also include and refer to, if appropriate, such assignee or Sublicensee. In
the event of acquisition, merger, change of corporate name, or reorganization of Licensee, Licensee shall notify TSRI in writing within thirty (30) days of such event. 

14.16 Attorneys’ Fees. In the event of a dispute between the parties hereto or in the event of any default hereunder, the party
prevailing in the resolution of any such dispute or default shall be entitled to recover its reasonable attorneys’ fees and other costs incurred in connection with resolving such dispute or default, subject to the provisions in
Section 14.9.6 hereof. 
 14.17 Force Majeure. In the event either party is prevented from or delayed in the performance of any
of its obligations hereunder by reason of acts of God, war, strikes, riots, storms, fires, or any other cause whatsoever beyond the reasonable control of the party so prevented or delayed shall be excused from the performance of such obligation to
the extent and during the period of such prevention or delay. 

  
 22 

 14.18 Notices. Any notices required by this Agreement shall be in writing, shall
specifically refer to this Agreement and shall be sent by registered or certified airmail, postage prepaid, or by telefax, telex or cable, charges prepaid, or by overnight courier, postage prepaid and shall be forwarded to the respective addresses
set forth below unless subsequently changed by written notice to the other party: 
  

					
		 	For TSRI:	  	 The Scripps Research Institute
 Attention:
Director, Technology Development
 10550 North Torrey Pines Road, TPC-9

La Jolla, California 92037
 Fax No.: (858) 784-9910

			
		 	with a copy to:	  	 The Scripps Research Institute
 Attention:
General Counsel
 10550 North Torrey Pines Road, TPC-8
 La
Jolla, California 92037
 Fax No.: (858) 784-9399

			
		 	For Licensee:	  	 Ambrx, Inc.
 Attention: Chief Business
Officer
 10410 Science Center Drive
 San Diego, California
92121
 Fax No.: (858) 630-4394

 Notice shall be deemed delivered upon the earlier of (a) when received; (b) three (3) days after deposit into
the mail; (c) the date notice is sent via telefax, telex or cable; or (d) the day immediately following delivery to overnight courier (except Sunday and holidays). 

14.19 Compliance with U.S. Laws. Nothing contained in this Agreement shall require or permit TSRI or Licensee to do any act
inconsistent with the requirements of any United States law, regulation or executive order as the same may be in effect from time to time. 

IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized representatives as of the date set forth above. 

 

											
	TSRI:	 		 	LICENSEE:
			
	THE SCRIPPS RESEARCH INSTITUTE	 		 	AMBRX, INC.
						
	By:	 	 /s/ Arnold LaGuardia
	 		 		 	By:	 	 /s/ Troy E. Wilson

						
	Title:	 	 Executive Vice President
	 		 		 	Title:	 	 Chief Business Officer

  
 23 

 Exhibit A 

Licensed Patent Rights 
  

									
	 [***]
	 	 [***]
	 	 [***]
	 	 [***]
	 	 [***]

	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]
	[***]	 	[***]	 	[***]	 	[***]	 	[***]

  
 ***Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

24

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