Document:

Exhibit
      10.4

  
  
   

  
  
  LEASE
        AGREEMENT

  
  
   

  
  
  THIS
      LEASE AGREEMENT (this “Lease”) is made as of this 29 day of October, 2021, between ARE-MA REGION NO. 75,
        LLC, a Delaware limited liability company (“Landlord”), and DISC MEDICINE, INC., a Delaware corporation
      (“Tenant”).

  
  
   

  
  
  	

        	Building:	The specific building in the Project located at 321 Arsenal Street, Watertown, Massachusetts 02472 (also known as Building 312), in which the
            Premises are located.

  
  
   

  
  
  	

        	Premises:	That portion of the Project, consisting of a portion of the first floor of the Building, commonly known as Suite 101, and containing
            approximately 7,566 rentable square feet, as determined by Landlord, as shown on Exhibit A, subject to adjustment from time to time in accordance with Sections 5 and 45(o) hereof.

  
  
   

  
  
  	

        	Project:	The real property on which the Building in which the Premises are located, together with all improvements thereon and appurtenances thereto as
            described on Exhibit B.

  
  
   

  

  
  	Rentable Area of Premises:	7,566 sq. ft., subject to adjustment from time to time in accordance with Sections 5 and 45(o) hereof.
	 	 
	Rentable Area of Building:	64,858 sq. ft., subject to adjustment from time to time in accordance with Sections 5 and 45(o) hereof.
	 	 
	Rentable Area of Project:	834,782 sq. ft., subject to adjustment from time to time in accordance with Sections 5 and 45(o) hereof.
	 	 
	Building’s Share of Project:	7.77%, subject to adjustment from time to time in accordance with Sections 5 and 45(o) hereof.

  
  
   

  
  
  	Tenant’s Share of Operating Expenses:	11.67%, subject to adjustment from time to time in accordance with Sections 5 and 45(o) hereof.

  
  
   

  
  
  	Base Rent:	$29,003, per month, subject to adjustment pursuant to Section 4 hereof.

  
  
   

  
  
  Rent
        Adjustment Percentage: Three percent (3%)

  
  
   

  
  
  	Security Deposit:	$116,012

  
  
   

  
  
  	Target Commencement Date:	November 12, 2021, subject to the provisions of Section 2 hereof.

  
  
   

  
  
  	Base Term:	Beginning on the Commencement Date and ending 60 months from the first day of the first full month of the Term (as defined in Section 2) hereof.
	 	 
	Permitted Use:	General office use, and otherwise in compliance with the provisions of Section 7 hereof.

  
  
   

  
  
  	Address for Rent Payment:	Landlord’s Notice Address:

  
  
   

  
  
  	ARE-MA Region No. 75, LLC	c/o Alexandria Real Estate Equities, Inc.

  
  
  	JP Morgan Chase	26 North Euclid Avenue
	P.O. Box 975383	Pasadena, CA 91101

  
  
  	Dallas, TX 75397-5383	Attention: Corporate Secretary

  
  
  
     

    
      

    

  

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  Tenant’s
        Notice Address: 

  
  
   

  
  
  Before
        the Commencement Date:

  
  
   

  
  
  150
      Cambridgepark Drive, Suite 103

  
  
  Cambridge,
      MA 02140

  
  
  Attention:
      Joanne Bryce

  
  
   

  
  
  After
        the Commencement Date:

  
  
   

  
  
  321
      Arsenal Street, Suite 101

  
  
  Watertown,
      Massachusetts 02472

  
  
  Attention:
      Joanne Bryce

  
  
   

  
  
  The
      following Exhibits and Addenda are attached hereto and incorporated herein by this reference:

  
  
   

  
  
  EXHIBIT
        A - PREMISES DESCRIPTION 

  
  
  EXHIBIT
        B - DESCRIPTION OF PROJECT 

  
  
  EXHIBIT
        C - WORK LETTER  

  
  
  EXHIBIT
        D - ACKNOWLEDGEMENT OF COMMENCEMENT DATE 

  
  
  EXHIBIT
        E - RULES AND REGULATIONS  

  
  
  EXHIBIT
        F - REMOVABLE INSTALLATIONS 

  
  
  EXHIBIT
        G - IDENTIFICATION OF ACM, PACM & LEAD PAINT

  
  
   

  
  
  1.            
      Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord hereby leases the Premises to Tenant
      and Tenant hereby leases the Premises from Landlord.

  
  
   

  
  
  The
      portions of the Project which from time to time are for the non-exclusive use of Tenant and one or more other tenants of the Project
      or other third parties are collectively referred to herein as the “Common Areas.” The Common Areas include,
      without limitation, the various amenities, amenities facilities, and buildings or other improvements containing the same located
      in, on or otherwise serving the Project, if any, as may exist from time to time and be available for use by Tenant and one or
      more other tenants of the Project or other third parties (“Amenities”). Amenities may include, by way of example,
      things such as business centers, conference centers, restaurants, or gyms and other athletic facilities. It is understood that
      Landlord may contract with affiliates or third parties to provide Amenities rather than providing the same itself. In either case,
      the cost thereof will be included in Operating Expenses or paid directly by Tenant to such affiliate or third party. Notwithstanding
      anything contained in this Lease to the contrary and for the avoidance of doubt, however, Landlord has no obligation to provide,
      and if provided has no obligation to continue to provide, any Amenities or other Common Areas, other than reasonable access to
      the Premises (including, but not limited to, elevators) and any parking required by the terms of this Lease to be available to
      Tenant. Tenant shall have access to the Premises twenty-four (24) hours per day during the Term of this Lease, except in the case
      of emergencies or Force Majeure, as the result of governmental action or Legal Requirements, the performance by Landlord of any
      installation, maintenance or repairs, or other work, any other temporary interruptions, and otherwise subject to the terms of
      this Lease.

  
  
  
     

    
      

    

  

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  2.            
      Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant
      on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or
      “Deliver”); provided, however, that the Target Commencement Date may be extended by Landlord up to 60 days
      in the event that there are delays due to the performance by third parties of critical redevelopment activities to the Project
      (including, without limitation, electrical upgrades to and environmental remediations of the Project) (“Redevelopment
        Delays”); it being acknowledged that Landlord may exercise such extension via one or more written notices to Tenant.
      Landlord will give Tenant written notice, in reasonable detail, within a reasonable period after learning of such Redevelopment
      Delays. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting
      therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises on
      or before December 31, 2021 for any reason other than Force Majeure delays, Redevelopment Delays (up to 60 days, as allowed above
      in this Section 2) and Tenant Delays, then Tenant shall be entitled to a day for day abatement of Base Rent for each day for the
      period from and after January 1, 2022 (or such later date after giving effect to Force Majeure delays, Redevelopment Delays, and
      Tenant Delays) until the earlier of the date that Landlord Delivers the Premises or 180 days after the Target Commencement Date.
      If Landlord does not Deliver the Premises within 180 days of the Target Commencement Date for any reason other than Force Majeure
      delays, Redevelopment Delays, and Tenant Delays, this Lease may be terminated by Tenant by written notice (given no later than
      5 business days after the expiration of the 180 day period (as so extended) to Landlord, and if so terminated by Tenant: (a) the
      Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the
      provisions of this Lease), shall be returned to Tenant within fifteen (15) business days after the termination of the Lease pursuant
      to this Section 2, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease,
      except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s
        Work,” “Tenant’s Work,” “Tenant Delays” and “Substantially Completed”
      shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 5 business
      days of the lapse of such 180-day period, such right to void this Lease shall be waived and this Lease shall remain in full force
      and effect. Notwithstanding anything to the contrary contained herein and for the avoidance of any doubt, the termination rights
      provided for in this paragraph shall terminate on the Commencement Date.

  
  
   

  
  
  The
      “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant, (ii) the
      date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the
      Premises or any part thereof. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement
      Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date”
      attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such
      acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base
      Term, as defined above on the first page of this Lease, and (if timely and properly exercised) the Extension Term that Tenant
      may elect pursuant to Section 40 hereof.

  
  
   

  
  
  Subject
      to the provisions of Section 3 of the Work Letter, Landlord shall permit Tenant access to the Premises at such times set
      forth in Section 3 of the Work Letter prior to the Commencement Date for Tenant’s installation and setup of furniture,
      fixtures and equipment (“FF&E Installation”), provided that such FF&E Installation is coordinated with
      Landlord, and Tenant complies with this Lease and all other reasonable restrictions and conditions Landlord may impose. All such
      access shall be during normal business hours. Any access to the Premises by Tenant before the Commencement Date shall be subject
      to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent, Operating Expenses, or utility charges
      (unless such utility charges during Tenant’s early access are materially in excess of the utility charges incurred by Landlord
      during the construction of Landlord’s Work prior to such early access, as reasonably determined by Landlord, in which case,
      Tenant shall promptly reimburse Landlord for such excess costs).

  
  
   

  
  
  Except
      as set forth in the next paragraph or the Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement
      Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the
      Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time
      possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms
      and conditions of this Lease, including the obligation to pay Rent.

  
  
   

  
  
  On
      the Commencement Date, the Premises shall be tendered to Tenant in broom clean condition, free of occupants and personal property.
      For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not
      constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined
      in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall
      pay the cost. Reference is hereby made to the Work Letter for any warranties on Landlord’s Work.

  
  
  
     

    
      

    

  

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  Tenant
      agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to
      the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for
      the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for
      the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof
      and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are
      not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments
      and agreements contained herein.

  
  
   

  
  
  3.            
      Rent.

  
  
   

  
  
  (a)          
      Base Rent. The first month’s Base Rent and the Security Deposit shall be due and payable on delivery of an executed
      copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly
      installments of Base Rent on or before the first day of each calendar month during the Term hereof, in lawful money of the United
      States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place
      as Landlord may from time to time designate in writing. Payments of Base Rent for any fractional calendar month shall be prorated.
      The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent
      obligations. Tenant shall have no right at any time to abate, reduce, or set-off any Rent (as defined in Section 5) due
      hereunder except for any abatement as may be expressly provided in this Lease.

  
  
   

  
  
  (b)          
      Additional Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”):
      (i) Tenant’s Share of Operating Expenses, (ii) administrative rent in the amount of 3% of the then applicable Base Rent,
      and (iii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation,
      any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms,
      covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

  
  
   

  
  
  4.            
      Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full calendar
      month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately
      before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to such Base Rent payable immediately
      before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for
      any fractional calendar month shall be prorated.

  
  
   

  
  
  5.            
      Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar
      year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such
      calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal
      to 1/12th of Tenant’s Share of Operating Expenses of the Annual Estimate. Payments for any fractional calendar month shall
      be prorated.

  
  
  
     

    
      

    

  

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  The
      term “Operating Expenses” means: (A) all costs and expenses of any kind or description whatsoever incurred
      or accrued each calendar year by Landlord with respect to the Building, including, without duplication, Taxes (as defined in Section
        9), capital repairs, improvements and replacements amortized over the lesser of 10 years and the useful life of such capital
      items, the costs of Landlord’s third-party property manager, administrative rent in the amount of 3% of the then applicable
      Base Rent, and the cost of upgrades to the Building or enhanced services provided at the Building that are intended to encourage
      social distancing (also referred to as physical distancing), promote and protect health and physical well-being, and/or prevent
      or limit the spread or transmission of communicable diseases and/or viruses of any kind or nature, including, without limitation,
      COVID-19 (collectively, “Infectious Conditions”), and (B) the Building’s Share of Project of all costs
      and expenses of any kind or description whatsoever incurred or accrued each calendar year by Landlord with respect to the Project
      (other than those costs and expenses specific to the Building or any other building not containing Amenities), including, without
      duplication, costs and expenses related to the use, operation, ownership, management, maintenance, and repair of the Amenities
      and other Common Areas (including for the avoidance of doubt, payment or reimbursement by Landlord to affiliates of Landlord or
      third parties for market rent paid by such affiliates or third parties to Landlord for Amenity space and reduced rent or other
      concessions or subsidies provided to restaurants or others providing Amenities, and any payments made by Landlord to any Amenity
      provider to provide any Amenities), Taxes, capital repairs, improvements and replacements amortized over the lesser of 10 years
      and the useful life of such capital items, and the cost of upgrades to the Project or enhanced services provided at the Project
      that are intended to encourage social distancing (also referred to as physical distancing), promote and protect health and physical
      well-being, and/or prevent or limit the spread or transmission of Infectious Conditions. The only Amenities for which a separate
      use fee may be charged to Tenant in addition to inclusion of the costs and expenses thereof in Operating Expenses are related
      to the use of any conference facility or fitness center (if a conference facility or fitness center is created and available).
      Landlord or the Amenity provider may charge standard rates for usage of any conference facilities and services thereto. No membership
      fee will be charged for any fitness facility (or for basic offerings normally included in a membership fee), but Landlord may
      charge a separate fee for additional services, if available, such as personal trainers or wellness clinics. Operating Expenses
      shall exclude only:

  
  
   

  
  
  (i)            
      the original construction costs of the Project prior to the date of this Lease and the cost of correcting defects in such original
      construction of the Project, or the construction costs of any expansion of the Project or of any redevelopment of the Project;

  
  
   

  
  
  (ii)           
      capital expenditures for expansion of the Project (including, but not limited to, the creation and development (as opposed to
      operation and maintenance) of the Amenities and other Common Areas);

  
  
   

  
  
  (iii)          
      interest, principal payments of Mortgage (as defined in Section 27) debts of Landlord, financing costs and amortization
      of funds borrowed by Landlord, whether secured or unsecured;

  
  
   

  
  
  (iv)         
      depreciation of the Project (except for capital improvements, the cost of which are includable in Operating Expenses);

  
  
   

  
  
  (v)          
      advertising, legal and space planning expenses and leasing commissions and other costs and expenses incurred in procuring and
      leasing space to tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances
      for tenants;

  
  
   

  
  
  (vi)         
      legal and other expenses incurred in the negotiation or enforcement of leases;

  
  
   

  
  
  (vii)        
      costs of completing, fixturing, improving, renovating, painting, redecorating or other work, which Landlord pays for or performs
      for other tenants within their premises, and costs of correcting defects in such work;

  
  
   

  
  
  (viii)       
      costs to be reimbursed by other tenants of the Project or Taxes to be paid directly by Tenant or other tenants of the Project,
      whether or not actually paid;

  
  
   

  
  
  (ix)         
      salaries, wages, benefits and other compensation paid to officers and employees of Landlord who are not assigned in whole or in
      part to the operation, management, maintenance or repair of the Project;

  
  
  
     

    
      

    

  

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  (x)          
      general organizational, administrative and overhead costs relating to maintaining Landlord‘s existence, either as a corporation,
      partnership, or other entity, including general corporate, legal and accounting expenses;

  
  
   

  
  
  (xi)         
      costs (including attorneys’ fees and costs of settlement, judgments and payments in lieu thereof) incurred in connection
      with disputes with tenants, other occupants, or prospective tenants, and costs and expenses, including legal fees, incurred in
      connection with negotiations or disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees
      of the Building;

  
  
   

  
  
  (xii)        
      costs incurred by Landlord due to the violation by Landlord, its employees, agents or contractors or any tenant of the terms and
      conditions of any lease of space in the Project or any Legal Requirement (as defined in Section 7);

  
  
   

  
  
  (xiii)       
      penalties, fines or interest incurred as a result of Landlord‘s inability or failure to make payment of Taxes and/or to
      file any tax or informational returns when due, or from Landlord‘s failure to make any payment of Taxes required to be made
      by Landlord hereunder before delinquency;

  
  
   

  
  
  (xiv)       
      overhead and profit increment paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or services in or to
      the Project to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a
      competitive basis;

  
  
   

  
  
  (xv)        
      costs of Landlord’s charitable or political contributions, or of fine art maintained at the Project;

  
  
   

  
  
  (xvi)       
      costs in connection with services (including electricity), items or other benefits of a type which are not standard for the Project
      and which are not available to Tenant without specific charges therefor, but which are provided to another tenant or occupant
      of the Project, whether or not such other tenant or occupant is specifically charged therefor by Landlord;

  
  
   

  
  
  (xvii)      
      costs incurred in the sale or refinancing of the Project; and

  
  
   

  
  
  (xviii)     
      net income taxes of Landlord or the owner of any interest in the Project, franchise, capital stock, gift, estate or inheritance
      taxes or any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein.

  
  
   

  
  
  “Tenant’s
        Share of Operating Expenses” shall be the percentage set forth on the first page of this Lease as Tenant’s Share
      of Operating Expenses as reasonably adjusted by Landlord from time to time following changes to or remeasurement of the Premises,
      the Building or other buildings within the Project occurring from time to time. Any such remeasurement of a building within the
      Project shall be performed by Landlord in accordance with the Standard Method for Measuring Floor Area in Office Buildings as
      adopted by the Building Owners and Managers Association International (ANSI/BOMA Z65.1-2017), as customarily modified by Landlord
      for office/lab properties in the Cambridge/Watertown market. Landlord may equitably increase Tenant’s Share of Operating
      Expenses for any item of expense or cost reimbursable by Tenant that relates to a repair, replacement, or service that benefits
      only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or use. Base Rent,
      Tenant’s Share of Operating Expenses, and all other amounts payable by Tenant to Landlord hereunder are collectively referred
      to herein as “Rent.”

  
  
  
     

    
      

    

  

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  Within
      90 days after the end of each calendar year (or such longer period as may be reasonably required), Landlord shall furnish to Tenant
      a statement (an “Annual Statement”) showing in reasonable detail: (a) the total of actual Operating Expenses
      and resulting Tenant’s Share of Operating Expenses for the previous calendar year, and (b) the total of Tenant’s payments
      in respect of Operating Expenses for such year. If the actual Tenant’s Share of Operating Expenses for such year exceeds
      Tenant’s payments of Operating Expenses for such year, the excess shall be due and payable by Tenant to Landlord as Rent
      within 30 days after delivery of such Annual Statement to Tenant. If, however, Tenant’s payments of Operating Expenses for
      such year exceed the actual Tenant’s Share of Operating Expenses for such year, Landlord shall pay the excess to Tenant
      within 30 days after delivery of such Annual Statement, except that after the expiration, or earlier termination of the Term or
      if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts
      due Landlord. Landlord’s and Tenant’s obligations to pay any overpayments or deficiencies due pursuant to this paragraph
      shall survive the expiration or earlier termination of this Lease.

  
  
   

  
  
  The
      Annual Statement shall be final and binding upon Tenant unless Tenant, within 30 days after Tenant’s receipt thereof, shall
      contest any item therein by giving written notice to Landlord, specifying each item contested and the reason therefor. If, during
      such 30-day period, Tenant reasonably and in good faith questions or contests the accuracy of Landlord’s statement of Tenant’s
      Share of Operating Expenses, Landlord will provide Tenant with access to Landlord’s books and records relating to the operation
      of the Project and such information as Landlord reasonably determines to be responsive to Tenant’s questions (the “Expense
        Information”). If after Tenant’s review of such Expense Information, Landlord and Tenant cannot agree upon the
      amount of Tenant’s Share of Operating Expenses, then Tenant shall have the right to have a nationally or regionally recognized
      independent public accounting firm selected by Tenant, working pursuant to a fee arrangement other than a contingent fee (at Tenant’s
      sole cost and expense) and approved by Landlord (which approval shall not be unreasonably withheld or delayed) (the “Independent
        Accountant”), audit and/or review (the “Independent Review”) of the Expense Information for the year
      in question. The results of any such Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows
      that the payments actually made by Tenant with respect to Operating Expenses for the calendar year in question exceeded Tenant’s
      Share of Operating Expenses for such calendar year, Landlord shall at Landlord’s option either (i) credit the excess amount
      to the next succeeding installments of estimated Operating Expenses or (ii) pay the excess to Tenant within 30 days after delivery
      of such statement, except that after the expiration or earlier termination of this Lease or if Tenant is delinquent in its obligation
      to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review
      shows that Tenant’s payments with respect to Operating Expenses for such calendar year were less than Tenant’s Share
      of Operating Expenses for the calendar year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such
      statement. If the Independent Review shows that Tenant has overpaid with respect to Operating Expenses by more than 7%, then Landlord
      shall reimburse Tenant for all costs incurred by Tenant for the Independent Review. Operating Expenses for the calendar years
      in which Tenant’s obligation to share therein begins and ends shall be prorated. Notwithstanding anything set forth herein
      to the contrary, if the Project is not at least 95% occupied on average during any year of the Term, Tenant’s Share of Operating
      Expenses for such year shall be computed as though the Project had been 95% occupied on average during such year.

  
  
   

  
  
  6.            
      Security Deposit. Tenant shall deposit with Landlord, upon delivery of an executed copy of this Lease to Landlord, a security
      deposit (the “Security Deposit”) for the performance of all of Tenant’s obligations hereunder in the
      amount set forth on page 1 of this Lease, which Security Deposit shall be in the form of an unconditional and irrevocable letter
      of credit (the “Letter of Credit”): (i) in form and substance satisfactory to Landlord, (ii) naming Landlord
      as beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time by delivering to the issuer notice
      that Landlord is entitled to draw thereunder, (iv) issued by an FDIC-insured financial institution satisfactory to Landlord (Landlord
      acknowledging that Silicon Valley Bank is an approved issuer), and (v) redeemable by presentation of a sight draft in the state
      of Landlord’s choice. If Tenant does not provide Landlord with a substitute Letter of Credit complying with all of the requirements
      hereof at least 10 days before the stated expiration date of any then current Letter of Credit, Landlord shall have the right
      to draw the full amount of the current Letter of Credit and hold the funds drawn in cash without obligation for interest thereon
      as the Security Deposit. Any cash proceeds of the Letter of Credit following a draw by the Landlord (the “Cash Proceeds”)
      are property of the Landlord, and Tenant shall have no right in the Security Deposit or the Letter of Credit other than the right
      to a return of the Letter of Credit when both this Lease has terminated and Tenant’s obligations under this Lease have been
      completely fulfilled as set forth herein.

  
  
  
     

    
      

    

  

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  The
      Security Deposit and the Letter of Credit and Cash Proceeds shall be held by Landlord without obligation for interest thereon
      as security for the performance of all of Tenant’s obligations under this Lease. The Security Deposit and the Letter of
      Credit and the Cash Proceeds are not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s
      default. Upon each occurrence of Default (as defined in Section 20), Landlord may use and apply all or part of the Security
      Deposit and the Letter of Credit and the Cash Proceeds, without notice to or any action by Tenant or any other person or entity,
      to pay delinquent payments due under this Lease, and the cost of any damage, injury, expense or liability caused by such Default,
      without prejudice to any other remedy provided herein or provided by law. Upon such use or application, Tenant shall have no right
      whatsoever to any amount so used or applied. Landlord's right to use and apply the Security Deposit and the Letter of Credit and
      the Cash Proceeds under this Section 6 includes the right to use and apply the Security Deposit and the Letter of Credit
      and the Cash Proceeds to pay future rent damages following the termination of this Lease pursuant to Section 21(c) below.
      Upon any use or application of all or any portion of the Security Deposit and the Letter of Credit or the Cash Proceeds, Tenant
      on demand shall pay Landlord the amount, or provide Landlord a replacement Letter of Credit meeting the foregoing criteria, that
      will restore the Security Deposit to its original amount. Upon bankruptcy or other debtor-creditor proceedings against Tenant,
      the Security Deposit and the Letter of Credit and the Cash Proceeds shall be deemed to be applied first to the obligations of
      Tenant arising for periods prior to the filing of such proceedings. Tenant hereby waives the provisions of any law, now or hereafter
      in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults
      in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition,
      claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused
      by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. The Security Deposit and the Letter of
      Credit and the Cash Proceeds, after deducting therefrom all amounts to which Landlord has used or applied in accordance with this
      Lease, or to which Landlord is entitled under the provisions of this Lease, shall be returned to Tenant (or, at Landlord’s
      option, to the last assignee of Tenant’s interest hereunder) within 60 days after the expiration or earlier termination
      of this Lease. For the avoidance of doubt, no portion of the Security Deposit and the Letter of Credit and the Cash Proceeds shall
      be returned to Tenant until both this Lease has terminated and Tenant’s obligations under this Lease have been completely
      fulfilled as set forth herein.

  
  
   

  
  
  If
      Landlord transfers its interest in the Project or this Lease, Landlord shall either, at Landlord’s election in its sole
      discretion, (a) transfer any Security Deposit and the Letter of Credit and the Cash Proceeds then held by Landlord to a person
      or entity assuming Landlord’s obligations under this Section 6 after deducting therefrom all amounts to which Landlord
      has used or applied in accordance with this Lease, or to which Landlord is entitled under the provisions of this Lease, or (b)
      return to Tenant any Security Deposit and the Letter of Credit and the Cash Proceeds then held by Landlord and remaining after
      the deductions permitted herein. Upon such transfer to such transferee or the return of the Security Deposit and the Letter of
      Credit and the Cash Proceeds to Tenant, Landlord shall have no further obligation with respect to the Security Deposit and the
      Letter of Credit and the Cash Proceeds, and, in the event of a transfer, Tenant’s right to the return of the Security Deposit
      and the Letter of Credit and the Cash Proceeds shall apply solely against Landlord’s transferee.

  
  
  
     

    
      

    

  

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  7.            
      Use. The Premises shall be used solely for the Permitted Use set forth in the basic lease provisions on page 1 of this
      Lease, and in compliance with all laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants,
      requirements and restrictions now or hereafter applicable to the Premises, and to the use and occupancy thereof (collectively,
      “Legal Requirements” and each, a “Legal Requirement”), including, without limitation, (i)
      the Americans With Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant
      thereto, “ADA”), and (ii) all restrictions, requirements and provisions set forth in the record documents identified
      in Section 44 and/or imposed by Governmental Authorities (as defined in Section 9) having jurisdiction, including,
      without limitation, those related to the historical significance of, and historical activity on, the Project. Tenant shall, upon
      5 days’ written notice from Landlord, discontinue any use of the Premises which is declared by any Governmental Authority
      having jurisdiction to be a violation of a Legal Requirement. Tenant will not use or permit the Premises to be used for any purpose
      or in any manner that would void Tenant’s or Landlord’s insurance, increase the insurance risk, or cause the disallowance
      of any sprinkler or other credits. Tenant shall not permit any part of the Premises to be used as a “place of public accommodation”,
      as defined in the ADA or any similar legal requirement. Tenant shall reimburse Landlord promptly upon demand for any additional
      premium charged for any such insurance policy by reason of Tenant’s failure to comply with the provisions of this Section
      or otherwise caused by Tenant’s use and/or occupancy of the Premises. Tenant will use the Premises in a careful, safe and
      proper manner and will not commit or permit waste, overload the floor or structure of the Premises, subject the Premises to use
      that would damage the Premises or obstruct or interfere with the rights of Landlord or other tenants or occupants of the Project,
      including conducting or giving notice of any auction, liquidation, or going out of business sale on the Premises, or using or
      allowing the Premises to be used for any unlawful purpose. Tenant shall cause any equipment or machinery to be installed in the
      Premises so as to reasonably prevent sounds or vibrations from the Premises from extending into Common Areas, or other space in
      the Project. Tenant shall not place any machinery or equipment weighing 500 pounds or more in or upon the Premises or transport
      or move such items through the Common Areas of the Project or in the Project elevators without the prior written consent of Landlord.
      Except as may be provided under the Work Letter, Tenant shall not, without the prior written consent of Landlord, use the Premises
      in any manner which will require ventilation, air exchange, heating, gas, steam, electricity or water beyond the existing capacity
      of the Project as proportionately allocated to the Premises based upon Tenant’s Share of Operating Expenses as usually furnished
      for the Permitted Use.

  
  
   

  
  
  Tenant
      acknowledges that Landlord may, but shall not be obligated to, seek to obtain Leadership in Energy and Environmental Design (LEED),
      WELL Building Standard, or other similar “green” certification (“Green Standards”) with respect
      to the Project and/or the Premises, and Tenant agrees to reasonably cooperate with Landlord, and to provide such information and/or
      documentation as Landlord may reasonably request, in connection therewith (including, without limitation, with respect to utility
      and energy consumption). Tenant hereby acknowledges that Landlord’s costs or expenses incurred related to Green Standards
      shall be included as part of Operating Expenses.

  
  
   

  
  
  8.            
      Holding Over. If, with Landlord’s express written consent, Tenant retains possession of the Premises after the termination
      of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by
      Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment
      of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option
      or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable
      upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s
      sole and absolute discretion, in such written consent, and (iv) all other payments shall continue under the terms of this Lease.
      If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without the express written
      consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease, including the obligation to
      pay 100% of all Additional Rent due under this Lease, except that the monthly Base Rent shall be equal to 150% of the Base Rent
      in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting
      from or occasioned by Tenant’s holding over, including consequential damages; provided that, unless Landlord gave written
      notice to Tenant at least 30 days before the expiration of the Term that a subsequent tenant would be leasing the Premises or
      any part thereof and that Landlord reasonably anticipates holding over is reasonably likely to impact Landlord’s delivery
      schedule to such new tenant, Tenant shall be responsible for consequential damages only once Tenant’s holding over exceeds
      15 days. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as
      otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the
      Premises. Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of this Lease shall not result
      in a renewal or reinstatement of this Lease.

  
  
  
     

    
      

    

  

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  9.            
      Taxes. Except as set forth below in this Section 9, Landlord shall pay, as part of Operating Expenses, all taxes,
      levies, fees, assessments and governmental charges of any kind, existing as of the Commencement Date or thereafter enacted (collectively
      referred to as “Taxes”), imposed by any federal, state, regional, municipal, local or other governmental authority
      or agency, including, without limitation, quasi-public agencies (collectively, “Governmental Authority”) during
      the Term, including, without limitation, all Taxes: (i) imposed on or measured by or based, in whole or in part, on rent payable
      to (or gross receipts received by) Landlord under this Lease and/or from the rental by Landlord of the Project or any portion
      thereof, or (ii) based on the square footage, assessed value or other measure or evaluation of any kind of the Premises or the
      Project, or (iii) assessed or imposed by or on the operation or maintenance of any portion of the Premises or the Project, including
      parking, or (iv) assessed or imposed by, or at the direction of, or resulting from Legal Requirements, or interpretations thereof,
      promulgated by any Governmental Authority, or (v) imposed as a license or other fee, charge, tax, or assessment on Landlord’s
      business or occupation of leasing space in the Project. Landlord may contest by appropriate legal proceedings the amount, validity,
      or application of any Taxes or liens securing Taxes. Taxes shall not include any net income taxes imposed on Landlord except to
      the extent such net income taxes are in substitution for or in addition to any Taxes payable hereunder in which case the same
      shall be deemed to be included within the definition of the term “Taxes.” If any such Tax is levied or assessed directly
      against Tenant, then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing authority
      shall require. Tenant shall pay, prior to delinquency, any and all Taxes levied or assessed against any personal property or trade
      fixtures placed by Tenant in the Premises, whether levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s
      personal property or trade fixtures are levied against Landlord or Landlord’s property, or if the assessed valuation of
      the Project is increased by a value attributable to improvements in or alterations to the Premises, whether owned by Landlord
      or Tenant and whether or not affixed to the real property so as to become a part thereof, higher than the base valuation on which
      Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation,
      to pay such Taxes. Landlord’s determination of any excess assessed valuation shall be binding and conclusive, absent manifest
      error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant to Landlord immediately upon
      demand. As of the date of this Lease, the Building is not a standalone tax parcel. Landlord shall allocate any Taxes applicable
      to a taxable lot among all buildings, including the Building, located on the assessors’ lot on which the Building is located
      in a fair and equitable manner as determined by Landlord.

  
  
   

  
  
  10.         
      Parking. Subject to all applicable Legal Requirements, Force Majeure (as defined in Section 34 below), a Taking
      (as defined in Section 19 below) and the exercise by Landlord of its rights hereunder (including, without limitation Landlord’s
      rights set forth in Section 45(o)), Tenant shall have the right to park, at a rate of 2.0 cars per 1,000 rentable square
      feet of the Premises, in those areas of the Project designated by Landlord for non-reserved parking, subject to Landlord’s
      rules and regulations. Such parking shall be on a first-come-first-served, non-exclusive basis. Landlord shall not be responsible
      for enforcing Tenant’s parking rights against any third parties, including other tenants of the Project. Landlord reserves
      the right, but not the obligation, to dictate specific locations of the Project that Tenant is permitted to use for its parking
      rights under this Section 10. If, at any time during the Term, the Project is subject to a transportation demand management
      plan (“TDMP”) setting forth requirements related to parking at the Project, Tenant (at its sole cost and expense)
      shall comply with such TDMP. As of the date hereof, the Project is subject to that certain Transportation Demand Management Program
      dated June 2021 (as amended from time to time, the “Existing TDMP”). Tenant shall, at Tenant’s sole cost
      and expense, for as long as the Existing TDMP remains applicable to the Project, comply with the Existing TDMP as applicable to
      the Project, including without limitation: (i) offer a subsidized transportation benefit to all employees in accordance with the
      terms of the Existing TDMP; (ii) offer a subsidy to a bike share service to all employees in accordance with the terms of the
      Existing TDMP; (iii) implement a Commuter Choice Program; (iv) discourage single-occupant vehicle (“SOV”) use
      by its employees; (v) promote alternative modes of transportation and use of alternative work hours; (vi) at Landlord’s
      request, meet with Landlord and/or its representatives to discuss transportation programs and initiatives; (vii) participate in
      annual surveys, monitoring transportation programs and initiatives at the Project; (viii) cooperate with Landlord in connection
      with transportation programs and initiatives promulgated pursuant to the Existing TDMP; (ix) provide alternative work programs
      (such as telecommuting, flex-time and compressed work weeks) to its employees in order to reduce traffic impacts in Watertown
      during peak commuter hours; (x) offer an emergency ride home (“ERH”) through the Transportation Demand Management
      Coordinator and Watertown Transportation Management Association, or have its own ERH program, for all employees who commute by
      non-SOV mode at least 3 days a week; and (xi) otherwise cooperate with Landlord in encouraging employees to seek alternate modes
      of transportation.

  
  
  
     

    
      

    

  

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  11.          
      Utilities, Services.

  
  
   

  
  
  (a)          
      Utilities, Janitorial Services. Landlord shall provide, subject to the terms of this Section 11, (i) facilities
      for water, electricity, heat, light, sewer, and other utilities (including fire sprinklers to the extent the Project is plumbed
      for such services) (collectively, “Utilities”) and (ii) refuse and trash collection and janitorial services
      for the Common Areas and, at Landlord’s election, the Premises (collectively, “Janitorial Services”).
      Landlord shall pay, subject to Tenant’s reimbursement obligation or inclusion of such costs as Operating Expenses, for all
      Utilities used on the Premises, all maintenance charges for Utilities, and any storm sewer charges or other similar charges for
      Utilities imposed by any Governmental Authority or Utility provider, and any taxes, penalties, surcharges or similar charges thereon,
      as well as the cost for Janitorial Services. Landlord may cause, at Tenant’s expense, any Utilities to be separately metered
      or charged directly to Tenant by the provider. Tenant shall pay directly to the Utility provider, prior to delinquency, any separately
      metered Utilities and services which may be furnished to Tenant or the Premises during the Term. Landlord may cause, at Tenant’s
      expense, the Janitorial Services to be separately charged or charged directly to Tenant by the provider. Tenant shall pay directly
      to the Janitorial Services provider, prior to delinquency, any separately charged Janitorial Services. Tenant shall pay, as part
      of Operating Expenses, its share of all charges for jointly metered Utilities based upon consumption and all charges for Janitorial
      Services that are not separately charged, as reasonably determined by Landlord. No interruption or failure of Utilities or Janitorial
      Services, from any cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or constructive eviction
      of Tenant, termination of this Lease or the abatement of Rent. Tenant agrees to limit use of water and sewer with respect to Common
      Areas to normal restroom use. To the extent such services are not provided by Landlord, Tenant shall be responsible for obtaining
      and paying for its own janitorial services for the Premises. Utilities shall be available to the Premises 24 hours per day, 7
      days per week, except in the case of emergencies, as the result of Legal Requirements, the failure of any Utility provider to
      provide such Utilities, the performance by Landlord or any Utility provider of any installation, maintenance or repairs, or any
      other temporary interruptions.

  
  
   

  
  
  (b)          
      Service Interruptions. Notwithstanding anything to the contrary set forth herein, if (i) a stoppage of an Essential Service
      (as defined below) to the Premises shall occur and such stoppage is due solely to the gross negligence or willful misconduct of
      Landlord and not due in any part to any act or omission on the part of Tenant or any Tenant Party or any matter beyond Landlord’s
      reasonable control (any such stoppage of an Essential Service being hereinafter referred to as a “Service Interruption”),
      and (ii) such Service Interruption continues for more than 5 consecutive business days after Landlord shall have received written
      notice thereof from Tenant, and (iii) as a result of such Service Interruption, the conduct of Tenant’s normal operations
      in the Premises are materially and adversely affected, then, to the extent that such Service Interruption is covered by rental
      interruption insurance carried by Landlord pursuant to this Lease, there shall be an abatement of one day’s Base Rent for
      each day during which such Service Interruption continues after such 5 business day period; provided, however, that if any part
      of the Premises is reasonably useable for Tenant’s normal business operations or if Tenant conducts all or any part of its
      operations in any portion of the Premises notwithstanding such Service Interruption, then the amount of each daily abatement of
      Base Rent shall only be proportionate to the nature and extent of the interruption of Tenant’s normal operations or ability
      to use the Premises. The rights granted to Tenant under this paragraph shall be Tenant’s sole and exclusive remedy resulting
      from a failure of Landlord to provide services, and Landlord shall not otherwise be liable for any loss or damage suffered or
      sustained by Tenant resulting from any failure or cessation of services. For purposes hereof, the term “Essential Services”
      shall mean the following services: electricity, water, and sewer, but in each case only to the extent that Landlord has an obligation
      to provide same to Tenant under this Lease. The rental abatement set forth in this paragraph shall only apply as long as the original
      Tenant is the tenant occupying the Premises under this Lease and shall not apply to any assignee or sublessee.

  
  
  
     

    
      

    

  

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  (c)           Intentionally Omitted. 

  
  
   

  
  
  (d)          
      Usage Data. Tenant agrees to provide Landlord with access to Tenant’s water and/or energy usage data on a monthly
      basis, either by providing Tenant’s applicable utility login credentials to Landlord’s Measurabl online portal, or
      by another delivery method reasonably agreed to by Landlord and Tenant. The costs and expenses incurred by Landlord in connection
      with receiving and analyzing such water and/or energy usage data (including, without limitation, as may be required pursuant to
      applicable Legal Requirements) shall be included as part of Operating Expenses.

  
  
   

  
  
  12.         
      Alterations and Tenant’s Property. Any alterations, additions, or improvements made to the Premises by or on behalf
      of Tenant, including additional locks or bolts of any kind or nature upon any doors or windows in the Premises, but excluding
      installation, removal or realignment of furniture systems (other than removal of furniture systems owned or paid for by Landlord)
      not involving any modifications to the structure or connections (other than by ordinary plugs or jacks) to Building Systems (as
      defined in Section 13) (“Alterations”) shall be subject to Landlord’s prior written consent, which
      may be given or withheld in Landlord’s sole discretion if any such Alteration could reasonably be expected to affect the
      Building structure or Building Systems and shall not be otherwise unreasonably withheld, conditioned or delayed. Notwithstanding
      the foregoing, Tenant may hang in the Premises whiteboards, pictures and signs that are not visible from outside of the Premises,
      that do not damage the Premises, other than typical nail holes, without Landlord’s consent, provided Tenant shall, at Tenant’s
      sole cost and expense, patch any nail holes and repair any damage to the Premises caused thereby prior to the end of the Term.
      If Landlord approves any Alterations, Landlord may impose such conditions on Tenant in connection with the commencement, performance
      and completion of such Alterations as Landlord may deem appropriate in Landlord’s sole discretion. Any request for approval
      shall be in writing, delivered not less than 15 business days in advance of any proposed construction, and accompanied by plans,
      specifications, bid proposals, work contracts and such other information concerning the nature and cost of the alterations as
      may be reasonably requested by Landlord, including the identities and mailing addresses of all contractors, subcontractors, or
      others performing work or supplying materials. Landlord’s right to review plans and specifications and to monitor construction
      shall be solely for its own benefit, and Landlord shall have no duty to ensure that such plans and specifications or construction
      comply with applicable Legal Requirements. Tenant shall cause, at its sole cost and expense, all Alterations to comply with insurance
      requirements and with applicable Legal Requirements and shall implement at its sole cost and expense any alteration or modification
      required by applicable Legal Requirements as a result of any Alterations. Tenant shall pay to Landlord, as Additional Rent, on
      demand, an amount equal to (a) 5% of all charges incurred by Tenant or its contractors or agents in connection with any Alteration
      to cover Landlord’s overhead and expenses for plan review, coordination, scheduling and supervision, and (b) the reasonable
      out-of-pocket costs incurred by Landlord with respect to each Alteration. Before Tenant begins any Alteration, Landlord may post
      on and about the Premises notices of non-responsibility pursuant to applicable law. Tenant shall reimburse Landlord for, and indemnify
      and hold Landlord harmless from, any expense incurred by Landlord by reason of faulty work done by Tenant or its contractors,
      delays caused by such work, or inadequate cleanup.

  
  
   

  
  
  Tenant
      shall furnish security or make other arrangements satisfactory to Landlord to assure payment for the completion of all Alterations
      work free and clear of liens, and shall provide (and cause each contractor or subcontractor to provide) certificates of insurance
      for workers’ compensation and other coverage, including commercial general liability insurance, in amounts and from an insurance
      company satisfactory to Landlord to protect Landlord against liability for personal injury or property damage during construction
      and shall include Landlord as an additional insured thereunder. Upon completion of any Alterations, Tenant shall deliver to Landlord:
      (i) sworn statements setting forth the names of all contractors and subcontractors who did the work and final lien waivers from
      all such contractors and subcontractors; and (ii) “as built” plans for any such Alteration.

  
  
  
     

    
      

    

  

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  Except
      for Removable Installations (as hereinafter defined), all Installations (as hereinafter defined) shall be and shall remain the
      property of Landlord during the Term and following the expiration or earlier termination of the Term, shall not be removed by
      Tenant at any time during the Term, and shall remain upon and be surrendered with the Premises as a part thereof. Notwithstanding
      the foregoing, if concurrently with Tenant’s request for Landlord’s consent to an Installation Tenant asks Landlord
      to notify Tenant if removal of such Installation is required upon the expiration or earlier termination of the Term, then Landlord
      shall, at the time of its approval of any such Installation is requested, notify Tenant whether Landlord requires that Tenant
      remove such Installation upon the expiration or earlier termination of the Term, in which event Tenant shall remove such Installation
      in accordance with the immediately succeeding sentence. Upon the expiration or earlier termination of the Term, Tenant shall remove
      (i) all wires, cables or similar equipment which Tenant has installed in the Premises or in the risers or plenums of the Building,
      (ii) any Installations for which Landlord has given Tenant notice of removal in accordance with the immediately preceding sentence,
      and (iii) all of Tenant’s Property (as hereinafter defined), and Tenant shall restore and repair any damage caused by or
      occasioned as a result of such removal, including, without limitation, capping off all such connections behind the walls of the
      Premises and repairing any holes. During any restoration period beyond the expiration or earlier termination of the Term, Tenant
      shall pay Rent to Landlord as provided herein as if said space were otherwise occupied by Tenant. If Landlord is requested by
      Tenant or any lender, lessor or other person or entity claiming an interest in any of Tenant's Property to waive any lien Landlord
      may have against any of Tenant's Property, and Landlord consents to such waiver, then Landlord shall be entitled to be paid as
      administrative rent a fee of $1,000 per occurrence for its time and effort in preparing and negotiating such a waiver of lien.

  
  
   

  
  
  For
      purposes of this Lease, (x) “Removable Installations” means any items listed on Exhibit F attached hereto
      and any items agreed by Landlord in writing to be included on Exhibit F in the future, (y) “Tenant’s
        Property” means Removable Installations and, other than Installations, any personal property or equipment of Tenant
      that may be removed without material damage to the Premises, and (z) “Installations” means all Alterations,
      all fixtures, and all partitions, hardware, built-in machinery, built-in casework and cabinets and other similar additions, equipment,
      property and improvements built into the Premises so as to become an integral part of the Premises, including, without limitation,
      fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm
      rooms, deionized water systems, glass washing equipment, autoclaves, chillers, built-in plumbing, electrical and mechanical equipment
      and systems, and any power generator and transfer switch.

  
  
   

  
  
  13.          
      Landlord’s Repairs. Landlord shall, at Landlord's sole expense (and not as an Operating Expense), be responsible
      for capital repairs and replacements of the roof (not including the roof membrane), exterior walls and foundation of the Building
      (“Structural Items”), unless the need for such repairs or replacements is caused by Tenant or any Tenant Parties,
      in which case Tenant shall bear the full cost to repair or replace such Structural Items. Landlord shall (with all related costs
      included as an Operating Expense) be responsible for the routine maintenance and repair of such Structural Items. Landlord shall
      (with all related costs included as an Operating Expense) maintain, repair and replace the roof membrane and all of the exterior,
      parking and other Common Areas of the Project, including HVAC, plumbing, fire sprinklers and all other building systems serving
      the Premises and other portions of the Project (“Building Systems”) but excluding those exclusively serving
      the Premises, in good repair, reasonable wear and tear and uninsured losses and damages caused by Tenant, or by any of Tenant,
      or by any of Tenant’s assignees, sublessees, licensees, agents, servants, employees, invitees and vendors, contractors (or
      any of Tenant’s assignees, sublessees and/or licensees respective agents, servants, employees, invitees, vendors, and contractors)
      (collectively, “Tenant Parties”) excluded. Losses and damages caused by Tenant or any Tenant Party shall be
      repaired by Landlord, to the extent not covered by insurance, at Tenant’s sole cost and expense. Landlord reserves the right
      to stop Building Systems services when necessary (i) by reason of accident or emergency, or (ii) for planned repairs, alterations
      or improvements, which are, in the judgment of Landlord, desirable or necessary to be made, until said repairs, alterations or
      improvements shall have been completed. Landlord shall have no responsibility or liability for failure to supply Building Systems
      services during any such period of interruption; provided, however, that Landlord shall, except in case of emergency,
      make a commercially reasonable effort to give Tenant 24 hours advance notice of any planned stoppage of Building Systems services
      for routine maintenance, repairs, alterations or improvements. Tenant shall promptly give Landlord written notice of any repair
      required by Landlord pursuant to this Section 13, after which Landlord shall make a commercially reasonable effort to effect
      such repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure
      shall persist for an unreasonable time after Tenant’s written notice of the need for such repairs or maintenance. Tenant
      waives its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and
      agrees that the parties’ respective rights with respect to such matters shall be solely as set forth herein. Repairs required
      as the result of fire, earthquake, flood, hurricane, sinkhole, tornado, vandalism, war, or similar cause of damage or destruction
      shall be controlled by Section 18.

  
  
  
     

    
      

    

  

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  14.         
      Tenant’s Repairs. Subject to Section 13 hereof, Tenant, at its sole expense, shall repair, replace and maintain
      in good condition all portions of the Premises, building systems exclusively serving the Premises, and systems installed by Tenant,
      including, without limitation, entries, doors, ceilings, interior windows, interior walls, and the interior side of demising walls.
      Such repair and replacement may include capital expenditures and repairs whose benefit may extend beyond the Term. Should Tenant
      fail to make any such repair or replacement or fail to maintain the Premises, Landlord shall give Tenant notice of such failure.
      If Tenant fails to commence cure of such failure within 10 days of Landlord’s notice, and thereafter diligently prosecute
      such cure to completion (not to exceed 45 days), Landlord may perform such work and shall be reimbursed by Tenant within 10 days
      after demand therefor; provided, however, that if such failure by Tenant creates or could create an emergency, Landlord may immediately
      commence cure of such failure and shall thereafter be entitled to recover the costs of such cure from Tenant. Subject to Sections
        17 and 18, Tenant shall bear the full uninsured cost of any repair or replacement to any part of the Project that results
      from damage caused by Tenant or any Tenant Party and any repair that benefits only the Premises.

  
  
   

  
  
  15.         
      Mechanic’s Liens. Tenant shall discharge, by bond or otherwise, any mechanic’s lien filed against the Premises
      or against the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 10
      days after the filing thereof, at Tenant’s sole cost, and shall otherwise keep the Premises and the Project free from any
      liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to discharge any
      lien described herein, Landlord shall have the right, but not the obligation, to pay such claim or post a bond or otherwise provide
      security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately due from Tenant
      as Additional Rent. If Tenant shall lease or finance the acquisition of office equipment, furnishings, or other personal property
      of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform Commercial
      Code Financing Statement filed as a matter of public record by any lessor or creditor of Tenant will upon its face or by exhibit
      thereto indicate that such Financing Statement is applicable only to removable personal property of Tenant located within the
      Premises. In no event shall the address of the Project be furnished on the statement without qualifying language as to applicability
      of the lien only to removable personal property located within the Premises.

  
  
   

  
  
  16.         
      Indemnification. Tenant hereby indemnifies and agrees to defend, save and hold Landlord, its officers, directors, employees,
      managers, agents, sub-agents, constituent entities, affiliates and lease signatory(ies) (collectively, “Landlord Indemnified
        Parties”) harmless from and against any and all actions (including, without limitation, administrative or judicial proceedings,
      and orders or judgments arising out of or resulting therefrom), costs, claims, damages (including, without limitation, punitive
      damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction on, use of the
      Premises or any portion of the Project), expenses (including, without limitation, attorneys’, consultants’ and experts’
      fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil, administrative
      or criminal penalties, injunctive or other relief (whether or not based upon personal injury, death to persons or property damage
      occurring within or about the Premises), liabilities or losses (collectively, “Claims”), arising directly or
      indirectly out of use or occupancy of the Premises or a breach or default by Tenant in the performance of any of its obligations
      hereunder, except to the extent caused by the willful misconduct or negligence of Landlord Indemnified Parties.  Landlord
      Indemnified Parties shall not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property (including,
      without limitation, loss of records kept within the Premises).  Tenant further waives any and all Claims for injury to Tenant's
      business or loss of income relating to any such damage or destruction of personal property (including, without limitation, any
      loss of records).  Landlord Indemnified Parties shall not be liable for any damages arising from any act, omission or neglect
      of any tenant in the Project or of any other third party.

  
  
  
     

    
      

    

  

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  17.         
      Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering the full replacement
      cost of the Project. Landlord shall further procure and maintain commercial general liability insurance with a single loss limit
      of not less than $2,000,000 for bodily injury and property damage with respect to the Project. Landlord may, but is not obligated
      to, maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to, flood, environmental
      hazard and earthquake, loss or failure of building equipment, errors and omissions, rental loss during the period of repair or
      rebuilding, workers’ compensation insurance and fidelity bonds for employees employed to perform services and insurance
      for any improvements installed by Tenant or which are in addition to the standard improvements customarily furnished by Landlord
      without regard to whether or not such are made a part of the Project. All such insurance shall be included as part of the Operating
      Expenses. The Project may be included in a blanket policy (in which case the cost of such insurance allocable to the Project will
      be determined by Landlord based upon the insurer’s cost calculations). Tenant shall also reimburse Landlord for any increased
      premiums or additional insurance which Landlord reasonably deems necessary as a result of Tenant’s use of the Premises.

  
  
   

  
  
  Tenant,
      at its sole cost and expense, shall maintain during the Term: all risk property insurance with business interruption and extra
      expense coverage, covering the full replacement cost of all property and improvements installed or placed in the Premises by Tenant
      or on behalf of Tenant at Tenant’s expense; workers’ compensation insurance with no less than the minimum limits required
      by law; employer’s liability insurance with employers liability limits of $1,000,000 bodily injury by accident – each
      accident, $1,000,000 bodily injury by disease – policy limit, and $1,000,000 bodily injury by disease – each employee;
      and commercial general liability insurance, with a minimum limit of not less than $2,000,000 per occurrence for bodily injury
      and property damage with respect to the Premises. The commercial general liability insurance maintained by Tenant shall name Alexandria
      Real Estate Equities, Inc., and Landlord, its officers, directors, employees, managers, agents, sub-agents, constituent entities,
      affiliates and lease signatory(ies) (collectively, “Landlord Insured Parties”), as additional insureds; insure
      on an occurrence and not a claims-made basis; be issued by insurance companies which have a rating of not less than policyholder
      rating of A and financial category rating of at least Class X in “Best’s Insurance Guide”; shall not be cancelable
      for nonpayment of premium unless 30 days prior written notice shall have been given to Landlord from the insurer (10 days prior
      notice for nonpayment of premium); not contain a hostile fire exclusion; contain a contractual liability endorsement; and provide
      primary coverage to Landlord Insured Parties (any policy issued to Landlord Insured Parties providing duplicate or similar coverage
      shall be deemed excess over Tenant’s policies, regardless of limits). Copies of such policies (if requested by Landlord)
      or certificates of insurance showing the limits of coverage required hereunder and showing Landlord as an additional insured,
      along with reasonable evidence of the payment of premiums for the applicable period, shall be delivered to Landlord by Tenant
      prior to (i) the earlier to occur of (x) the Commencement Date, or (y) the date that Tenant accesses the Premises under this Lease,
      and (ii) each renewal of said insurance. Tenant’s policy may be a “blanket policy” with an aggregate per location
      endorsement which specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the policy.
      Tenant shall, at least 5 days prior to the expiration of such policies, furnish Landlord with renewal certificates.

  
  
   

  
  
  In
      each instance where insurance is to name Landlord as an additional insured, Tenant shall upon written request of Landlord also
      designate and furnish certificates so evidencing Landlord as additional insured to: (i) any lender of Landlord holding a security
      interest in the Project or any portion thereof, (ii) the landlord under any lease wherein Landlord is tenant of the real property
      on which the Project is located, if the interest of Landlord is or shall become that of a tenant under a ground or other underlying
      lease rather than that of a fee owner, and/or (iii) any management company retained by Landlord to manage the Project.

  
  
  
     

    
      

    

  

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  The
      property insurance obtained by Landlord and Tenant shall include a waiver of subrogation by the insurers and all rights based
      upon an assignment from its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers,
      agents, invitees and contractors (“Related Parties”), in connection with any loss or damage thereby insured
      against. Neither party nor its respective Related Parties shall be liable to the other for loss or damage caused by any risk insured
      against under property insurance required to be maintained hereunder, and each party waives any claims against the other party,
      and its respective Related Parties, for such loss or damage. The failure of a party to insure its property shall not void this
      waiver. Landlord and its respective Related Parties shall not be liable for, and Tenant hereby waives all claims against such
      parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting
      from any accident or occurrence in or upon the Premises or the Project from any cause whatsoever. If the foregoing waivers shall
      contravene any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed not released but
      shall be secondary to the other’s insurer.

  
  
   

  
  
  Landlord
      may require insurance policy limits to be raised to conform with requirements of Landlord’s lender and/or to bring coverage
      limits to levels then being generally required of new tenants within the Project.

  
  
   

  
  
  18.         
      Restoration. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other insured
      casualty, Landlord shall notify Tenant within 60 days after discovery of such damage (the “Restoration Notice”)
      as to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the
      “Restoration Period”). If the Restoration Period is estimated to exceed 9 months (the “Maximum Restoration
        Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date
      of discovery of such damage or destruction, or if the damage will take more than three (3) months to restore and it occurs in
      the last nine (9) months of the Term, then either Landlord or Tenant may terminate this Lease by written notice to the other party
      given within fifteen (15) days following Landlord’s Restoration Notice. If Landlord estimates the Restoration Period will
      exceed one (1) year, then Tenant may terminate this Lease by written notice to Landlord given within fifteen (15) days following
      Landlord’s Restoration Notice. Unless Landlord so elects to terminate this Lease, Landlord shall, subject to receipt of
      sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore the Premises
      (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant), subject to delays arising from the collection
      of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind
      required to enter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage,
      handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30)
      in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided,
      however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration
      Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such
      repair and restoration, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this
      Lease shall terminate as of the date that is 75 days after the later of: (i) discovery of such damage or destruction, or (ii)
      the date all required Hazardous Materials Clearances are obtained, but Landlord shall retain any Rent paid and the right to any
      Rent payable by Tenant prior to such election by Landlord or Tenant.

  
  
   

  
  
  Tenant,
      at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure
      events or to obtain Hazardous Material Clearances, all repairs or restoration not required to be done by Landlord and shall promptly
      re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, Landlord may terminate
      this Lease if the Premises are damaged during the last 18 months of the Term and Landlord reasonably estimates that it will take
      more than 4 months to repair such damage, or if insurance proceeds are not available for such restoration. Rent shall be abated
      from the date all required Hazardous Material Clearances are obtained until the Premises are repaired and restored, in the proportion
      which the area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless Landlord
      provides Tenant with other space during the period of repair that is suitable for the temporary conduct of Tenant’s business.
      Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives any right to
      terminate this Lease by reason of damage or casualty loss.

  
  
  
     

    
      

    

  

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  The
      provisions of this Lease, including this Section 18, constitute an express agreement between Landlord and Tenant with respect
      to any and all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute
      or regulation which is now or may hereafter be in effect shall have no application to this Lease or any damage or destruction
      to all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this Section
        18 sets forth their entire understanding and agreement with respect to such matters.

  
  
   

  
  
  19.          
      Condemnation. If the whole or any material part of the Premises or the Project is taken for any public or quasi-public
      use under governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a
      “Taking” or “Taken”), and the Taking would (a) in Landlord’s reasonable judgment,
      materially interfere with or impair Landlord’s ownership or operation of the Project or the Building or (b) either prevent
      or materially interfere with Tenant’s use of the Premises, then upon written notice by Landlord in the case of (a) or (b),
      or by Tenant in the case of (b), to the other, this Lease shall terminate and Rent shall be apportioned as of said date. If part
      of the Premises shall be Taken, and this Lease is not terminated as provided above, Landlord shall promptly restore the Premises
      and the Project as nearly as is commercially reasonable under the circumstances to their condition prior to such partial Taking
      and the rentable square footage of the Building, the rentable square footage of the Premises, Tenant’s Share of Operating
      Expenses and the Rent payable hereunder during the unexpired Term shall be reduced to such extent as Landlord determines may be
      fair and reasonable under the circumstances. Upon any such Taking, Landlord shall be entitled to receive the entire price or award
      from any such Taking without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in
      such award. Tenant shall have the right, to the extent that same shall not diminish Landlord’s award, to make a separate
      claim against the condemning authority (but not Landlord) for such compensation as may be separately awarded or recoverable by
      Tenant for moving expenses and damage to Tenant’s trade fixtures, if a separate award for such items is made to Tenant.
      Tenant hereby waives any and all rights it might otherwise have pursuant to any provision of state law to terminate this Lease
      upon a partial Taking of the Premises or the Project.

  
  
   

  
  
  20.          
      Events of Default. Each of the following events shall be a default (“Default”) by Tenant under this
      Lease:

  
  
   

  
  
  (a)          
      Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided that,
      for the first instance within a 12-month period of Tenant’s failure to pay any amounts due hereunder when due, Tenant shall
      be in Default only if such failure continues for five (5) days following notice from Landlord to Tenant that such amount(s) are
      past due. All notices under this clause (a) shall be in lieu of, and not in addition to, or shall be deemed to be, any notice
      required by law.

  
  
   

  
  
  (b)          
      Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease shall be canceled or terminated or
      shall expire or shall be reduced or materially changed, or Landlord shall receive a notice of nonrenewal of any such insurance
      and Tenant shall fail to obtain replacement insurance at least 20 days before the expiration of the current coverage.

  
  
   

  
  
  (c)          
      [Intentionally Omitted].

  
  
   

  
  
  (d)          
      Improper Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to transfer all or any portion of Tenant’s
      interest in this Lease or the Premises except as expressly permitted herein, or Tenant’s interest in this Lease shall be
      attached, executed upon, or otherwise judicially seized and such action is not released within 90 days of the action.

  
  
   

  
  
  (e)          
      Liens. Tenant shall fail to discharge or otherwise obtain the release of any lien placed upon the Premises in violation
      of this Lease within 10 days after any such lien is filed against the Premises.

  
  
  
     

    
      

    

  

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  (f)           
      Insolvency Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder shall: (A) make a general
      assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief
      entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment,
      liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar
      official for it or for all or of any substantial part of its property (collectively a “Proceeding for Relief”);
      (C) become the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry; or (D) die or
      suffer a legal disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to maintain its
      legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity).

  
  
   

  
  
  (g)          
      Estoppel Certificate or Subordination Agreement. Tenant fails to execute any document required from Tenant under Sections
        23 or 27 within the time periods set forth in such applicable Section.

  
  
   

  
  
  (h)          
      Other Defaults. Tenant shall fail to comply with any provision of this Lease other than those specifically referred to
      in this Section 20, and, except as otherwise expressly provided herein, such failure shall continue for a period of 10
      business days after written notice thereof from Landlord to Tenant.

  
  
   

  
  
  Any
      notice given under Section 20(h) hereof shall: (i) specify the alleged default, (ii) demand that Tenant cure such default,
      (iii) be in lieu of, and not in addition to, or shall be deemed to be, any notice required under any provision of applicable law,
      and (iv) not be deemed a forfeiture or a termination of this Lease unless Landlord elects otherwise in such notice; provided
      that if the nature of Tenant’s default pursuant to Section 20(h) is such that it cannot be cured by the payment
      of money and reasonably requires more than 10 days to cure, then Tenant shall not be deemed to be in default if Tenant commences
      such cure within said initial 10 day period and thereafter diligently prosecutes the same to completion; provided, however,
      that such cure shall be completed no later than 30 days from the date of Landlord’s notice.

  
  
   

  
  
  21.          
      Landlord’s Remedies.

  
  
   

  
  
  (a)          
      Performance; Payment; Interest. If default by Tenant shall occur in the keeping, observance or performance of any covenant,
      agreement, term, provision or condition herein contained, Landlord, without thereby waiving such default, may perform the same
      for the account and at the expense of Tenant (a) immediately or at any time thereafter and with only such notice, if any, as may
      be practicable under the circumstances in the case of an emergency or in case such default will result in a violation of any Legal
      Requirement or insurance requirements, or in the imposition of any lien against all or any portion of the Premises or the Project
      not discharged, released or bonded over to Landlord’s satisfaction by Tenant within the time period required pursuant to
      Section 15 of this Lease, and (b) in any other case if such default continues after any applicable notice and cure period
      provided in Section 20. All reasonable costs and expenses incurred by Landlord in connection with any such performance
      by it for the account of Tenant and also all reasonable costs and expenses, including attorneys’ fees and disbursements
      incurred by Landlord in any action or proceeding (including any summary dispossess proceeding) brought by Landlord to enforce
      any obligation of Tenant under this Lease and/or right of Landlord in or to the Premises, together with interest thereon, from
      the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate permitted by law (the
      “Default Rate”), whichever is less, shall be paid by Tenant to Landlord on demand as Additional Rent. Nothing
      herein shall be construed to create or impose a duty on Landlord to mitigate any damages resulting from Tenant’s default
      hereunder.

  
  
   

  
  
  (b)          
      Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not
      contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include,
      but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage
      covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the
      date such payment is due, Tenant shall pay to Landlord an additional sum of 6% of the overdue Rent as a late charge. The parties
      agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment
      by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after
      the date due until paid.

  
  
  
     

    
      

    

  

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  (c)          
      Additional Remedies. Upon the occurrence of a Default, Landlord, at its option, without further notice or demand to Tenant,
      shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any
      one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand
      whatsoever (except as otherwise expressly provided in Section 21(c)(v) with respect to Landlord’s Lump Sum Election).
      No cure in whole or in part of such Default by Tenant after Landlord has taken any action beyond giving Tenant notice of such
      Default to pursue any remedy provided for herein (including retaining counsel to file an action or otherwise pursue any remedies)
      shall in any way affect Landlord’s right to pursue such remedy or any other remedy provided Landlord herein or under law
      or in equity, unless Landlord, in its sole discretion, elects to waive such Default.

  
  
   

  
  
  (i)            
      This Lease and the Term and estate hereby granted are subject to the limitation that whenever a Default shall have happened and
      be continuing, Landlord shall have the right, at its election, then or thereafter while any such Default shall continue and notwithstanding
      the fact that Landlord may have some other remedy hereunder or at law or in equity, to give Tenant written notice of Landlord’s
      intention to terminate this Lease on a date specified in such notice, which date shall be not less than 5 days after the giving
      of such notice, and upon the date so specified, this Lease and the estate hereby granted shall expire and terminate with the same
      force and effect as if the date specified in such notice were the date hereinbefore fixed for the expiration of this Lease, and
      all rights of Tenant hereunder shall expire and terminate, and Tenant shall be liable as hereinafter in this Section 21(c)
      provided. If any such notice is given, Landlord shall have, on such date so specified, the right of re-entry and possession
      of the Premises and the right to remove all persons and property therefrom and to store such property in a warehouse or elsewhere
      at the risk and expense, and for the account, of Tenant. Should Landlord elect to re-enter as herein provided or should Landlord
      take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, subject to Section
        21(c)(ii) from time to time re-let the Premises or any part thereof for such term or terms and at such rental or rentals and
      upon such terms and conditions as Landlord may deem advisable, with the right to make commercially reasonable alterations in and
      repairs to the Premises.

  
  
   

  
  
  (ii)           
      Landlord shall be deemed to have satisfied any obligation to mitigate its damages by hiring an experienced commercial real estate
      broker to market the Premises and directing such broker to advertise and show the Premises to prospective tenants.

  
  
   

  
  
  (iii)          
      In the event of any termination of this Lease as in this Section 21 provided or as required or permitted by law or in equity,
      Tenant shall forthwith quit and surrender the Premises to Landlord, and Landlord may, without further notice, enter upon, re-enter,
      possess and repossess the same by summary proceedings, ejectment or otherwise, and again have, repossess and enjoy the same free
      of any rights of Tenant, and in any such event Tenant and no person claiming through or under Tenant by virtue of any law or an
      order of any court shall be entitled to possession or to remain in possession of the Premises.

  
  
   

  
  
  (iv)         
      If this Lease is terminated or if Landlord shall re-enter the Premises as aforesaid, or in the event of the termination of this
      Lease, or of re-entry, by or under any proceeding or action or any provision of law by reason of a Default by Tenant, Tenant covenants
      and agrees forthwith to pay and be liable for, on the days originally fixed in this Lease for the payment thereof, amounts equal
      to the installments of Base Rent and all Additional Rent as they would, under the terms of this Lease become due if this Lease
      had not been terminated or if Landlord had not entered or re-entered, as aforesaid, and whether the Premises be relet or remain
      vacant, in whole or in part, or for a period less than the remainder of the Term, or for the whole thereof, but in the event that
      the Premises be relet by Landlord, Tenant shall be entitled to a credit in the net amount of rent and other charges received by
      Landlord in reletting, after deduction of all of Landlord’s expenses incurred in reletting the Premises (including, without
      limitation, tenant improvement, demising and remodeling costs, brokerage fees and the like), and in collecting the rent in connection
      therewith, in the following manner: Amounts received by Landlord after reletting, if any, shall first be applied against such
      Landlord’s expenses, until the same are recovered, and until such recovery, Tenant shall pay, as of each day when a payment
      would fall due under this Lease, the amount which Tenant is obligated to pay under the terms of this Lease (Tenant’s liability
      prior to any such reletting and such recovery by Landlord no in any way to be diminished as a result of the fact that such reletting
      might be for a rent higher than the rent provided for in this Lease); when and if such expenses have been completely recovered
      by Landlord, the amounts received from reletting by Landlord as have not previously been applied shall be credited against Tenant’s
      obligations as of each day when a payment would fall due under this Lease, and only the net amount thereof shall be payable by
      Tenant. Further, Tenant shall not be entitled to any credit of any kind for any period after the date when the Term of this Lease
      is scheduled to expire according to its terms.

  
  
  
     

    
      

    

  

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  Actions,
      proceedings or suits for the recovery of damages, whether liquidated or other damages, under this Lease, or any installments thereof,
      may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord
      to postpone suit until the date when the Term of this Lease would have expired if it had not been terminated hereunder.

  
  
   

  
  
  (v)          
      In addition, Landlord, at its election, notwithstanding any other provision of this Lease, by written notice to Tenant (the “Lump
        Sum Election”), shall be entitled to recover from Tenant, as and for liquidated damages, at any time following any termination
      of this Lease after the occurrence of a Default, a lump sum payment representing, at the time of Landlord’s written notice
      of its Lump Sum Election, the sum of:

  
  
   

  
  
  (A)         
      the then present value (calculated in accordance with accepted financial practice using as the discount rate the yield to maturity
      on United States Treasury Notes as set forth below) of the amount of unpaid Base Rent and Additional Rent that would have been
      payable pursuant to this Lease for the remainder of the Term following Landlord’s Lump Sum Election if this Lease had not
      been terminated, and

  
  
   

  
  
  (B)          
      all other damages and expenses (including attorneys’ fees and expenses), if any, which Landlord shall have sustained by
      reason of the breach of any provision of this Lease; less

  
  
   

  
  
  (C)          
      the net rental revenue that Landlord may expect to obtain for the Premises for the balance of the Term, calculated based on the
      then present value (calculated in accordance with accepted financial practice using as the discount rate the yield to maturity
      on United States Treasury Notes as set forth below) of the aggregate net fair market rent plus additional charges payable for
      the Premises (if less than the then present value of Base Rent and Additional Rent that would have been payable pursuant to this
      Lease) for the remainder of the Term following Landlord’s Lump Sum Election, calculated as of the date of Landlord’s
      Lump Sum Election, and taking into account reasonable estimates of the length of time until the space will be leased and rent
      will commence to be paid, and future costs to relet any then vacant portions of the Premises (except to the extent that Tenant
      has actually paid such costs pursuant to this Section 21).

  
  
   

  
  
  Landlord’s
      recovery under its Lump Sum Election shall be in addition to Tenant’s obligations to pay Base Rent and Additional Rent due
      and costs incurred prior to the date of Landlord’s Lump Sum Election, and in lieu of any Base Rent and Additional Rent which
      would otherwise have been due under this Section from and after the date of Landlord’s Lump Sum Election. The yield to maturity
      on United States Treasury Notes having a maturity date that is nearest the date that would have been the last day of the Term
      of this Lease, as reported in The Wall Street Journal or a comparable publication
      if it ceases to publish such yields, shall be used in calculating present values for purposes of Landlord’s Lump Sum Election.
      For the purposes of this Section, if Landlord makes the Lump Sum Election to recover liquidated damages in accordance with this
      Section, the total Additional Rent shall be computed based upon Landlord’s reasonable estimate of Tenant’s Share of
      Operating Expenses and other Additional Rent for each 12-month period in what would have been the remainder of the Term of this
      Lease and any part thereof at the end of such remainder of the Term, but in no event less than the amounts therefor payable for
      the twelve (12) calendar months (or if less than twelve (12) calendar months have elapsed since the date hereof, the partial year
      increased to be on an annualized basis) immediately preceding the date of Landlord’s Lump Sum Election. Amounts of Tenant’s
      Share of Operating Expenses and any other Additional Rent for any partial year at the beginning of the Term, for the month in
      which the Lump Sum Election is made, or at the end of what would have been the remainder of the Term shall be prorated.

  
  
  
     

    
      

    

  

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  (vi)         
      Nothing herein contained shall limit or prejudice the right of Landlord, in any bankruptcy or insolvency proceeding, to prove
      for and obtain as liquidated damages by reason of such termination an amount equal to the maximum allowed by any bankruptcy or
      insolvency proceedings, or to prove for and obtain as liquidated damages by reason of such termination, an amount equal to the
      maximum allowed by any statute or rule of law, whether such amount shall be greater or less than the excess referred to above.

  
  
   

  
  
  (vii)        
      Nothing in this Section 21 shall be deemed to affect the right of either party to indemnifications pursuant to this Lease,
      which shall be in addition to the remedies set forth in this Section 21.

  
  
   

  
  
  (viii)       
      If Landlord terminates this Lease upon the occurrence of a Default, Tenant will quit and surrender the Premises to Landlord or
      its agents, and Landlord may, without further notice, enter upon, re-enter and repossess the Premises by summary proceedings,
      ejectment or otherwise. The words “enter”, “re-enter”, and “re-entry” are not restricted to
      their technical legal meanings.

  
  
   

  
  
  (ix)         
      If Tenant shall be in default in the observance or performance of any provision of this Lease, and an action shall be brought
      for the enforcement thereof in which it shall be determined that Tenant was in default, Tenant shall pay to Landlord all reasonable,
      out of pocket fees, costs and other expenses which may become payable as a result thereof or in connection therewith, including
      reasonable attorneys’ fees and expenses.

  
  
   

  
  
  (x)          
      Independent of the exercise of any other remedy of Landlord hereunder or under applicable law, Landlord may conduct an environmental
      test of the Premises as generally described in Section 30(c).

  
  
   

  
  
  (xi)         
      In the event that Tenant is in breach or Default under this Lease, whether or not Landlord exercises its right to terminate or
      any other remedy, Tenant shall reimburse Landlord upon demand for any out of pocket costs and expenses that Landlord may incur
      in connection with any such breach or Default, as provided in this Section 21(c). Such costs shall include legal fees and
      costs incurred for the negotiation of a settlement, enforcement of rights or otherwise. Tenant shall also indemnify Landlord against
      and hold Landlord harmless from all costs, expenses, demands and liability, including without limitation, legal fees and costs
      Landlord shall incur if Landlord shall become or be made a party to any claim or action instituted by Tenant against any third
      party, by any third party against Tenant or by or against any person holding any interest under or using the Premises by license
      of or agreement with Tenant.

  
  
   

  
  
  (d)       Except
      as otherwise provided in this Section 21, no right or remedy herein conferred upon or reserved to Landlord is intended
      to be exclusive of any other right or remedy, and every right and remedy shall be cumulative and in addition to any other legal
      or equitable right or remedy given hereunder, or now or hereafter existing. No waiver by Landlord of any provision of this Lease
      shall be deemed to have been made unless expressly so made in writing by Landlord expressly waiving such provision. Landlord shall
      be entitled, to the extent permitted by law, to seek injunctive relief in case of the violation, or attempted or threatened violation,
      of any provision of this Lease, or to seek a decree compelling observance or performance of any provision of this Lease, or to
      seek any other legal or equitable remedy.

  
  
  
     

    
      

    

  

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  22.         
      Assignment and Subletting.

  
  
   

  
  
  (a)          
      General Prohibition. Without Landlord’s prior written consent subject to and on the conditions described in this
      Section 22, Tenant shall not, directly or indirectly, voluntarily or by operation of law, assign this Lease or sublease
      the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or grant any concession or license
      within the Premises or any part thereof, and any attempt to do any of the foregoing shall be void and of no effect. If Tenant
      is a corporation, partnership (limited, general or other) or limited liability company (or other business associations), the shares
      or other ownership interests thereof which are not actively traded upon a stock exchange or in the over-the-counter market, a
      transfer or series of transfers whereby 49% or more of the issued and outstanding shares or other ownership interests of such
      corporation, partnership (limited, general or other) or limited liability company (or other business associations) are, or voting
      control is, transferred (but excepting transfers upon deaths of individual owners) from a person or persons or entity or entities
      (or other business associations) which were owners thereof at time of execution of this Lease to persons or entities (or other
      business associations) who were not owners of shares or other ownership interests of the corporation, partnership or limited liability
      company (or other business associations) at time of execution of this Lease, shall be deemed an assignment of this Lease requiring
      the consent of Landlord as provided in this Section 22.

  
  
   

  
  
  (b)          
      Permitted Transfers. If Tenant desires to assign, sublease, hypothecate or otherwise transfer this Lease or sublet the
      Premises other than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 45
      business days, before the date Tenant desires the assignment or sublease to be effective (the “Assignment Date”),
      Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the proposed
      assignee or sublessee, including the proposed use of the Premises and any Hazardous Materials proposed to be used, stored handled,
      treated, generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the
      proposed assignee or sublessee, and all material terms and conditions of the proposed assignment or sublease, including a copy
      of any proposed assignment or sublease in its final form, and such other information as Landlord may deem reasonably necessary
      or appropriate to its consideration whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business
      days after receipt of the Assignment Notice: (i) grant such consent, (ii) refuse such consent, in its reasonable discretion (provided
      that in the case of a sublease Landlord shall further have the right to review and approve or disapprove the proposed form of
      sublease prior to the effective date of any such subletting), or (iii) if the proposed assignment, hypothecation or other transfer
      or subletting concerns 50% or more (together with all other then effective subleases) of the Premises, terminate this Lease with
      respect to the space described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”). Among
        other reasons, it shall be reasonable for Landlord to withhold its consent in any of these instances:  (1) the proposed
        assignee or subtenant is a governmental agency; (2) in Landlord’s judgment, the use of the Premises by the proposed assignee
        or subtenant would entail any alterations that would lessen the value of the leasehold improvements in the Premises, or would
        require increased services by Landlord; (3) in Landlord’s judgment, the character, nature, operations, creditworthiness,
        reputation, or business of the proposed assignee or subtenant is inconsistent with the desired tenant-mix or the quality of other
        tenancies in the Project or is inconsistent with the type and quality of the nature of the Building or are controversial; (4)
        Landlord has received from any prior landlord to the proposed assignee or subtenant a negative report concerning such prior landlord’s
        experience with the proposed assignee or subtenant; (5) Landlord has experienced previous defaults by or is in litigation with
        the proposed assignee or subtenant; (6) the use of the Premises by the proposed assignee or subtenant will violate any applicable
        Legal Requirement; (7) the proposed assignee or subtenant, or any entity that, directly or indirectly, controls, is controlled
        by, or is under common control with the proposed assignee or subtenant, is then an occupant of the Project; (8) the proposed assignee
        or subtenant is an entity with whom Landlord is negotiating to lease space in the Project; or (9) the assignment or sublease is
        prohibited by Landlord’s lender, if any. If Landlord delivers notice of its election to exercise an Assignment Termination,
      Tenant shall have the right to withdraw such Assignment Notice by written notice to Landlord of such election within 5 business
      days after Landlord’s notice electing to exercise the Assignment Termination. If Tenant withdraws such Assignment Notice,
      this Lease shall continue in full force and effect. If Tenant does not withdraw such Assignment Notice, this Lease, and the term
      and estate herein granted, shall terminate as of the Assignment Date with respect to the space described in such Assignment Notice.
      No failure of Landlord to exercise any such option to terminate this Lease, or to deliver a timely notice in response to the Assignment
      Notice, shall be deemed to be Landlord’s consent to the proposed assignment, sublease or other transfer. Tenant shall pay
      to Landlord a fee equal to Two Thousand Five Hundred Dollars ($2,500) in connection with its consideration of any Assignment Notice
      and/or its preparation or review of any consent documents.

  
  
  
     

    
      

    

  

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  In
      addition, Tenant shall have the right to assign this Lease, upon 15 business days prior written notice to Landlord (except to
      the extent prohibited by applicable securities or other laws or regulations or confidentiality requirements, in which case such
      notice shall be provided as soon as permitted but in no event later than 10 days before such transaction) but without obtaining
      Landlord’s prior written consent, to (a) a corporation or other entity which is controlling, controlled by or under common
      control with Tenant, provided that (i) the net worth (as determined in accordance with generally accepted accounting principles
      (“GAAP”)) of the assignee is not less than the greater of the net worth (as determined in accordance with GAAP)
      of Tenant as of (A) the Commencement Date, or (B) as of the date of Tenant’s most current quarterly or annual financial
      statements, and (ii) such assignee shall agree in writing to assume all of the terms, covenants and conditions of this Lease (“Control
        Permitted Assignment”), or (b) a successor-in-interest to Tenant, by way of merger, consolidation or corporate reorganization,
      or by the purchase of all or substantially all of the assets or the ownership interests of Tenant provided that (i) such merger
      or consolidation, or such acquisition or assumption, as the case may be, is for a good business purpose and not principally for
      the purpose of transferring this Lease, and (ii) the net worth (as determined in accordance with GAAP) of the assignee is not
      less than the greater of the net worth (as determined in accordance with GAAP) of Tenant as of (A) the Commencement Date, or (B)
      as of the date of Tenant’s most current quarterly or annual financial statements, and (iii) such assignee shall agree in
      writing to assume all of the terms, covenants and conditions of this Lease (a “Corporate Permitted Assignment”).
      Control Permitted Assignments and Corporate Permitted Assignments are hereinafter referred to as “Permitted Assignments.”

  
  
   

  
  
  (c)          
      Additional Conditions. As a condition to any such assignment or subletting, whether or not Landlord’s consent is
      required, Landlord may require:

  
  
   

  
  
  (i)            
      that any assignee or subtenant agree, in writing at the time of such assignment or subletting, that if Landlord gives such party
      notice that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly
      to Landlord, which payments will be received by Landlord without any liability except to credit such payment against those due
      under this Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be
      terminated for any reason; provided, however, in no event shall Landlord or its successors or assigns be obligated
      to accept such attornment; and

  
  
   

  
  
  (ii)           
      A list of Hazardous Materials, certified by the proposed assignee or sublessee to be true and correct, which the proposed assignee
      or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with copies
      of all documents relating to such use, storage, handling, treatment, generation, release or disposal of Hazardous Materials by
      the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or subletting, including,
      without limitation: permits; approvals; reports and correspondence; storage and management plans; plans relating to the installation
      of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be permitted after
      Landlord has given its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion);
      and all closure plans or any other documents required by any and all federal, state and local Governmental Authorities for any
      storage tanks installed in, on or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee
      or subtenant is required, however, to provide Landlord with any portion(s) of the such documents containing information of a proprietary
      nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities.

  
  
  
     

    
      

    

  

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  (d)          
      No Release of Tenant, Sharing of Excess Rents. Notwithstanding any assignment or subletting, Tenant and any guarantor or
      surety of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for
      the payment of Rent and for compliance with all of Tenant’s other obligations under this Lease. If the Rent due and payable
      by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other consideration
      therefor or incident thereto in any form), exceeds the sum of the rental payable under this Lease (excluding however, any Rent
      payable under this Section) and actual and reasonable brokerage fees, legal costs, rent abatement periods, and any design or construction
      fees directly related to and required pursuant to the terms of any such sublease) (“Excess Rent”), then Tenant
      shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent within 10 days following receipt
      thereof by Tenant. If Tenant shall sublet the Premises or any part thereof, Tenant hereby immediately and irrevocably assigns
      to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such subletting, and Landlord as assignee
      and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent
      and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of a Default, Tenant shall
      have the right to collect such rent.

  
  
   

  
  
  (e)          
      No Waiver. The consent by Landlord to an assignment or subletting shall not relieve Tenant or any assignees of this Lease
      or any sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it
      release Tenant or any assignee or sublessee of Tenant from full and primary liability under this Lease. The acceptance of Rent
      hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity
      shall not be deemed to be a waiver of any of the provisions of this Lease or a consent to any subletting, assignment or other
      transfer of the Premises.

  
  
   

  
  
  23.         
      Estoppel Certificate. Tenant shall, within 10 business days of written notice from Landlord, execute, acknowledge and deliver
      a statement in writing in any form reasonably requested by a proposed lender or purchaser, (i) certifying that this Lease is unmodified
      and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified
      is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any, (ii) acknowledging
      that there are not any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and
      (iii) setting forth such further information with respect to the status of this Lease or the Premises as may be requested thereon.
      Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property
      of which the Premises are a part. Tenant’s failure to deliver such statement within such time shall, at the option of Landlord,
      constitute a Default under this Lease, and, in any event, shall be conclusive upon Tenant that this Lease is in full force and
      effect and without modification except as may be represented by Landlord in any certificate prepared by Landlord and delivered
      to Tenant for execution.

  
  
   

  
  
  24.         
      Quiet Enjoyment. So long as Tenant is not in Default under this Lease, Tenant shall, subject to the terms of this Lease,
      at all times during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under
      Landlord.

  
  
   

  
  
  25.         
      Prorations. All prorations required or permitted to be made hereunder shall be made on the basis of a 360-day year and
      30-day months.

  
  
   

  
  
  26.         
      Rules and Regulations. Tenant and any and all Tenant Parties shall, at all times during the Term and any extension thereof,
      comply with all reasonable rules and regulations at any time or from time to time established, modified or amended by Landlord
      covering use of the Premises and the Project. The current rules and regulations are attached hereto as Exhibit E. If there
      is any conflict between said rules and regulations and other provisions of this Lease, the terms and provisions of this Lease
      shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants
      in the Project and shall not enforce such rules and regulations in a discriminatory manner.

  
  
  
     

    
      

    

  

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  In
      addition to the foregoing, Landlord shall have the right to institute, modify or amend at any time or from time to time reasonable
      rules and regulations related to Tenant’s use of the Amenities, including by way of example but not limitation, requirements
      related to reservation systems for conference facilities, designation of permitted caterers or restaurants that may serve any
      conference facilities, reasonable fees for the use of conference facilities, liability waivers for individuals using gyms, and
      access card entry requirements. Tenant and any and all Tenant Parties shall comply with all such rules and regulations.

  
  
   

  
  
  Tenant
      shall cause all Tenant Parties to comply with all rules and regulations established from time to time by Landlord pursuant to
      this Section 26. Tenant will reimburse Landlord for all damages caused by Tenant’s or any Tenant Party’s failure
      to comply with the provisions of this Section 26 and will also pay to Landlord, as Additional Rent, an amount equal to
      any increase in insurance premiums caused by such failure to comply.

  
  
   

  
  
  27.         
      Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate
      at all times to the lien of any Mortgage now existing or hereafter created on or against the Project, the Building or the Premises,
      and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without
      the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is
      no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage.
      Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to
      execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall
      be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s
      quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at
      any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon
      this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording
      and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior
      to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage”
      whenever used in this Lease shall be deemed to include mortgages, deeds of trust, security assignments and any other encumbrances,
      and any reference to the “Holder” of a Mortgage shall be deemed to include the mortgagee or beneficiary under
      a deed of trust.

  
  
   

  
  
  As
      of the date of this Lease, there is no existing Mortgage encumbering the Project. If during the Term there is a Mortgage encumbering
      the Project, Landlord agrees to use reasonable efforts to cause the Holder of the then-current Mortgage to enter into a subordination,
      non-disturbance and attornment agreement ("SNDA") with Tenant with respect to this Lease. The SNDA shall be on
      the form proscribed by the Holder and Tenant shall pay the Holder's fees and costs in connection with obtaining such SNDA; provided,
      however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord's failure to cause
      the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord
      under this Lease.

  
  
   

  
  
  28.         
      Surrender. Upon the expiration of the Term or earlier termination of Tenant’s right of possession, Tenant shall surrender
      the Premises to Landlord in the same condition as received, subject to any Alterations or Installations permitted by Landlord
      to remain in the Premises, free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released
      or disposed of from, the Premises by any person other than a Landlord Party and released of all Hazardous Materials Clearances,
      broom clean, ordinary wear and tear and casualty loss and condemnation covered by Sections 18 and 19 excepted.

  
  
   

  
  
  Tenant
      shall immediately return to Landlord all keys and/or access cards to parking, the Project, restrooms or all or any portion of
      the Premises furnished to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord,
      at Landlord’s election, either the cost of replacing such lost access card or key or the cost of reprogramming the access
      security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property,
      Alterations and property not so removed by Tenant as permitted or required herein shall be deemed abandoned and may be stored,
      removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages
      resulting from Landlord’s retention and/or disposition of such property. All obligations of Tenant hereunder not fully performed
      as of the termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the
      expiration or earlier termination of the Term, including, without limitation, indemnity obligations, payment obligations with
      respect to Rent and obligations concerning the condition and repair of the Premises.

  
  
  
     

    
      

    

  

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  29.         
      Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A
      JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING
      OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS
      RELATED HERETO.

  
  
   

  
  
  30.         
      Environmental Requirements.

  
  
   

  
  
  (a)          
      Prohibition/Compliance. Except for Hazardous Material contained in products customarily used by tenants in de minimis quantities
      for ordinary cleaning and office purposes, Tenant shall not permit or cause any party to bring any Hazardous Material upon the
      Premises or use, store, handle, treat, generate, manufacture, transport, release or dispose of any Hazardous Material in, on or
      from the Premises without Landlord’s prior written consent which may be withheld in Landlord’s sole discretion. Tenant,
      at its sole cost and expense, shall operate its business in the Premises in strict compliance with all Environmental Requirements
      and shall remove or remediate in a manner satisfactory to Landlord any Hazardous Materials released on or from the Premises by
      Tenant or any Tenant Party. Tenant shall complete and certify disclosure statements as requested by Landlord from time to time
      relating to Tenant’s use, storage, handling, treatment, generation, manufacture, transportation, release or disposal of
      Hazardous Materials on or from the Premises. The term “Environmental Requirements” means all applicable present
      and future statutes, regulations, ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental
      Authority regulating or relating to health, safety, or environmental conditions on, under, or about the Premises, or the environment,
      including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource
      Conservation and Recovery Act; and all state and local counterparts thereto, and any regulations or policies promulgated or issued
      thereunder. The term “Hazardous Materials” means and includes any substance, material, waste, pollutant, or
      contaminant listed or defined as hazardous or toxic, or regulated by reason of its impact or potential impact on humans, animals
      and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof,
      natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of natural gas and such synthetic gas).
      As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of Tenant’s
      “facility” and the “owner” of all Hazardous Materials brought on the Premises by Tenant
      or any Tenant Party, and the wastes, by-products, or residues generated, resulting, or produced therefrom.

  
  
   

  
  
  (b)          
      Indemnity. Tenant hereby indemnifies and shall defend and hold Landlord, its officers, directors, employees, manager, agents,
      affiliates and contractors harmless from any and all actions (including, without limitation, remedial or enforcement actions of
      any kind, administrative or judicial proceedings, and orders or judgments arising out of or resulting therefrom), costs, claims,
      damages (including, without limitation, punitive damages and damages based upon diminution in value of the Premises, the Building,
      or the Project, or the loss of, or restriction on, use of the Premises, the Building, or any portion of the Project), expenses
      (including, without limitation, attorneys’, consultants’ and experts’ fees, court costs and amounts paid in
      settlement of any claims or actions), fines, forfeitures or other civil, administrative or criminal penalties, injunctive or other
      relief (whether or not based upon personal injury, property damage, or contamination of, or adverse effects upon, the environment,
      water tables or natural resources), liabilities or losses (collectively, “Environmental Claims”) which arise
      during or after the Term as a result of such contamination. This indemnification of Landlord by Tenant includes, without limitation,
      costs incurred in connection with any investigation of site conditions or any cleanup, treatment, remedial, removal, or restoration
      work required by any federal, state or local Governmental Authority because of Hazardous Materials present in the air, soil or
      ground water above, on, or under the Premises, the Building, the Project or any other adjacent property. Without limiting the
      foregoing, if the presence of any Hazardous Materials in, on or under the Premises, the Building, the Project or any adjacent
      property caused or permitted by Tenant or any Tenant Party results in any contamination of the Premises, the Building, the Project
      or any adjacent property, Tenant shall promptly take all actions at its sole expense and in accordance with applicable law as
      are necessary to return the Premises, the Building, the Project or any adjacent property to the condition existing prior to the
      time of such contamination, provided that Landlord’s approval of such action shall first be obtained, which approval shall
      not unreasonably be withheld so long as such actions would not potentially have any material adverse long-term or short-term effect
      on the Premises, the Building, or the Project.

  
  
  
     

    
      

    

  

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  (c)          
      Landlord’s Tests. Landlord shall have access to, and a right to perform inspections and tests of, the Premises to
      determine Tenant’s compliance with Environmental Requirements, its obligations under this Section 30, or the environmental
      condition of the Premises or the Project. In connection with such testing, upon the request of Landlord, Tenant shall deliver
      to Landlord or its consultant such non-proprietary information concerning the use of Hazardous Materials in or about the Premises
      by Tenant or any Tenant Party. Access shall be granted to Landlord upon Landlord’s prior notice to Tenant and at such times
      so as to minimize, so far as may be reasonable under the circumstances, any disturbance to Tenant’s operations. Such inspections
      and tests shall be conducted at Landlord’s expense, unless such inspections or tests reveal that Tenant has not complied
      with any Environmental Requirement, in which case Tenant shall reimburse Landlord for the reasonable cost of such inspection and
      tests. Tenant shall, at its sole cost and expense, promptly and satisfactorily remediate any environmental conditions identified
      by such testing in accordance with all Environmental Requirements. Landlord’s receipt of or satisfaction with any environmental
      assessment in no way waives any rights that Landlord may have against Tenant.

  
  
   

  
  
  (d)          
      Tenant’s Obligations. Tenant’s obligations under this Section 30 shall survive the expiration or earlier
      termination of this Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant
      or Landlord to complete the removal from the Premises of any Hazardous Materials (including, without limitation, the release and
      termination of any licenses or permits restricting the use of the Premises), Tenant shall continue to pay the full Rent in accordance
      with this Lease for any portion of the Premises not relet by Landlord in Landlord’s sole discretion, which Rent shall be
      prorated daily.

  
  
   

  
  
  31.         
      Tenant’s Remedies/Limitation of Liability. Landlord shall not be in default hereunder unless Landlord fails to perform
      any of its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance
      will, due to the nature of the obligation, require a period of time in excess of 30 days, then after such period of time as is
      reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of
      a Mortgage covering the Premises and to any landlord of any lease of property in or on which the Premises are located and Tenant
      shall offer such Holder and/or landlord a reasonable opportunity to cure the default, including time to obtain possession of the
      Project by power of sale or a judicial action if such should prove necessary to effect a cure; provided Landlord shall
      have furnished to Tenant in writing the names and addresses of all such persons who are to receive such notices. All obligations
      of Landlord hereunder shall be construed as covenants, not conditions; and, except as may be otherwise expressly provided in this
      Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder.

  
  
   

  
  
  All
      obligations of Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the Premises
      and not thereafter. The term “Landlord” in this Lease shall mean only the fee owner for the time being of the
      Premises. Upon the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged
      from all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term upon each new owner
      for the duration of such owner’s ownership.

  
  
  
     

    
      

    

  

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  32.         
      Inspection and Access. Landlord and its agents, representatives, and contractors may enter the Premises at any reasonable
      time to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other
      business purpose. Landlord and Landlord’s representatives may enter the Premises during business hours on not less than
      48 hours advance written notice (except in the case of emergencies in which case no such notice shall be required and such entry
      may be at any time) for the purpose of effecting any such repairs, inspecting the Premises, showing the Premises to prospective
      purchasers and, during the last 18 months of the Term, to prospective tenants or for any other business purpose. Landlord may
      erect a suitable sign on the Premises stating the Premises are available to let or that the Project is available for sale. Landlord
      may grant easements, make public dedications, designate Common Areas and create restrictions on or about the Premises, provided
      that no such easement, dedication, designation or restriction materially, adversely affects Tenant’s use or occupancy
      of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such instruments as may be necessary
      for such easements, dedications or restrictions. Tenant shall at all times, except in the case of emergencies, have the right
      to escort Landlord or its agents, representatives, contractors or guests while the same are in the Premises, provided such escort
      does not materially and adversely affect Landlord’s access rights hereunder.

  
  
   

  
  
  33.         
      Security. Tenant acknowledges and agrees that security devices and services, if any, while intended to deter crime may
      not in given instances prevent theft or other criminal acts and that Landlord is not providing any security services with respect
      to the Premises. Tenant agrees that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with
      respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into
      the Premises or any other breach of security with respect to the Premises. Tenant shall be solely responsible for the personal
      safety of Tenant’s officers, employees, agents, contractors, guests and invitees while any such person is in, on or about
      the Premises and/or the Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent Tenant desires protection
      against such criminal acts.

  
  
   

  
  
  34.         
      Force Majeure. Except for Tenant’s obligation to timely pay Rent or any other payment due hereunder (which such obligation
      shall not under any circumstance be delayed or excused), neither Landlord nor Tenant shall be responsible or liable for delays
      in the performance of its obligations hereunder when such delay in performance is caused by, related to or arises out of acts
      of God, sinkholes or subsidence, strikes, labor stoppages, lockouts, or other labor disputes, embargoes, quarantines, declared
      states of emergency or public health emergencies, pandemics, epidemics, infectious disease, weather, national, regional, or local
      disasters, calamities, or catastrophes, inability to obtain labor or materials (or reasonable substitutes therefor) at reasonable
      costs or failure of, or inability to obtain, utilities necessary for performance, governmental decrees, laws, actions, restrictions,
      orders, limitations, regulations, or controls, regional, state, local, or national emergencies, delay in inspection by federal,
      state or local inspectors, officials or other applicable Governmental Authorities, delay in issuance or revocation of permits,
      approvals, certificates of occupancy, or entitlements, enemy or hostile governmental action, terrorism, insurrection, riots, civil
      disturbance or commotion, fire or other casualty, and any other causes or events beyond the reasonable control of the obligated
      party (“Force Majeure”).

  
  
   

  
  
  35.         
      Brokers. Landlord and Tenant each represents and warrants that, other than Cushman & Wakefield and CBRE (the “Brokers”),
      it has not dealt with any broker, agent or other person entitled to a commission, compensation or fee in connection with this
      transaction. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any
      broker, agent or other person or entity, other than the Brokers, claiming a commission or other form of compensation by virtue
      of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. Landlord shall be responsible
      for all commissions due to the Brokers arising out of the execution of this Lease subject to and in accordance with the terms
      of a separate agreement(s) with the Brokers.

  
  
  
     

    
      

    

  

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  36.         
      Limitation on Landlord’s Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD
      AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER
      PERSON ASSUME ALL RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY
      KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION, TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS,
      LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION
      KEPT AT THE PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL RECOURSE TO LANDLORD
      FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD
      AND TENANT WITH RESPECT TO THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE STRICTLY LIMITED SOLELY
      TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE PROCEEDS PAYABLE
      IN RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH LOSS; AND (C) IN NO EVENT SHALL ANY PERSONAL
      LIABILITY BE ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR ASSETS
      OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, MANAGERS, AFFILIATES, AGENTS OR CONTRACTORS. UNDER NO CIRCUMSTANCES
      SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, MANAGERS, AFFILIATES, AGENTS OR CONTRACTORS BE LIABLE
      FOR INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM. Tenant
        acknowledges and agrees that ANY measures and/or services implemented at the Project, if any, intended to encourage social distancing
        (also referred to as physical distancing), promote and protect health and physical well-being and/or prevent or limit the spread
        or transmission of Infectious Conditions, may not prevent or limit the spread or transmission of such Infectious Conditions (IT
        BEING UNDERSTOOD AND AGREED THAT LANDLORD HAS NO OBLIGATION TO UNDERTAKE ANY SUCH MEASURES OR SERVICES AND HAS MADE NO REPRESENTATION
        THAT IT WILL UNDERTAKE ANY SUCH MEASURES OR SERVICES, NOR AS TO THE SUFFICIENCY OF ANY MEASURES OR SERVICES UNDERTAKEN BY LANDLORD
        IF LANDLORD UNDERTAKES ANY MEASURES OR SERVICES, AND TENANT WILL NOT RELY ON ANY MEASURES OR SERVICES UNDERTAKEN BY LANDLORD IF
        LANDLORD UNDERTAKES ANY MEASURES OR SERVICES). Neither Landlord nor any Landlord Indemnified Parties shall have any liability
        and Tenant irrevocably releases and waives any claims against Landlord and the Landlord Indemnified Parties with respect to any
        loss, damage, injury or death in connection with (x) the implementation, MANNER OF IMPLEMENTATION, or failure of Landlord or any
        Landlord Indemnified Parties to implement OR ENFORCE, any measures and/or services at the Project intended to encourage social
        distancing (also referred to as physical distancing), promote and protect health and physical well-being and/or prevent or limit
        the spread or transmission of Infectious Conditions, or (y) the failure of any measures and/or services implemented at the Project,
        if any, to prevent or limit the spread or transmission of any Infectious Conditions.

  
  
   

  
  
  37.         
      Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws,
      then and in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby.
      It is also the intention of the parties to this Lease that in lieu of each clause or provision of this Lease that is illegal,
      invalid or unenforceable, there be added, as a part of this Lease, a clause or provision as similar in effect to such illegal,
      invalid or unenforceable clause or provision as shall be legal, valid and enforceable.

  
  
  
     

    
      

    

  

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  38.         
      Signs; Exterior Appearance. Tenant shall not, without the prior written consent of Landlord, which may be granted or withheld
      in Landlord’s sole discretion: (i) attach any awnings, exterior lights, decorations, balloons, flags, pennants, banners,
      painting or other projection to any outside wall of the Project, (ii) use any curtains, blinds, shades or screens other than Landlord’s
      standard window coverings, (iii) coat or otherwise sunscreen the interior or exterior of any windows, (iv) place any bottles,
      parcels, or other articles on the window sills, (v) place any equipment, furniture or other items of personal property on any
      exterior balcony, or (vi) paint, affix or exhibit on any part of the Premises or the Project any signs, notices, window or door
      lettering, graphics, placards, decorations, or advertising media of any type which can be viewed from the exterior of the Premises.
      At Tenant’s election, to the extent permitted by Legal Requirements, and subject to Landlord’s prior written approval
      of size, location and design, Landlord shall cause to be installed (at Tenant’s sole cost and expense) the following signage:
      (i) suite-entry signage in the entryway or immediately adjacent to such entryway of the Premises, and (ii) Tenant’s
      pro rata share (as reasonably determined by Landlord) of non-exclusive signage bearing Tenant’s name and logo on the monument
      sign serving the Building, if any. Tenant shall provide Landlord with the applicable signs and/or placards to be installed pursuant
      to the foregoing sentence. All costs associated with the design, permitting, approval, fabrication, installation, maintenance,
      and removal (and associated repairs of damage to the Building and/or the monument sign due to Tenant’s signage removal),
      shall be borne exclusively by Tenant.

  
  
   

  
  
  39.         
      Intentionally Omitted.

  
  
   

  
  
  40.         
      Right to Extend Term. Tenant shall have the right to extend the Term of this Lease upon the following terms and conditions:

  
  
   

  
  
  (a)          
      Extension Right. Tenant shall have a one-time right (the “Extension Right”) to extend the term of this
      Lease for 5 years (the “Extension Term”) on the same terms and conditions as this Lease (other than with respect
      to Base Rent, which shall be determined as set forth below, and the Work Letter, which shall not be applicable) by giving Landlord
      written notice of its election to exercise the Extension Right at least 12 months prior (but no earlier than 18 months prior)
      to the expiration of the Base Term of this Lease.

  
  
   

  
  
  (b)          
      Base Rent. Upon the commencement of the Extension Term, Base Rent shall be payable at the Market Rate (as defined below).
      Base Rent shall thereafter be adjusted on each annual anniversary of the commencement of the Extension Term by a percentage as
      determined by Landlord and agreed to by Tenant at the time the Market Rate is determined or determined by arbitration as provided
      below. As used herein, “Market Rate” shall mean the rate that comparable landlords of comparable buildings
      have accepted in current transactions from non-equity (i.e., not being offered equity in the buildings) and nonaffiliated tenants
      of similar financial strength for space of comparable size and quality (including all Tenant Improvements, Alterations and other
      improvements) for office use within Class A office/laboratory complexes (including the Project in the Watertown, Allston, Brighton
      and West Cambridge markets for a comparable term, with the determination of the Market Rate to take into account all relevant
      factors, including, without limitation, tenant inducements, views, available amenities (including, without limitation, the Amenities),
      age of the Building, age of mechanical systems serving the Premises, parking availability, leasing commissions, and allowances
      or concessions, if any. Notwithstanding the foregoing, the Market Rate shall in no event be less than the Base Rent payable as
      of the date immediately preceding the commencement of the Extension Term increased by the Rent Adjustment Percentage multiplied
      by such Base Rent.

  
  
   

  
  
  If,
      on or before the date which is 180 days prior to the expiration of the Base Term of this Lease, Tenant has not agreed with Landlord’s
      determination of the Market Rate and the rent escalations during the Extension Term after negotiating in good faith, Tenant shall
      be deemed to have elected arbitration as described in Section 40(c). Tenant acknowledges and agrees that, if Tenant has
      elected to exercise the Extension Right by delivering notice to Landlord as required in this Section 40(a), Tenant shall
      have no right thereafter to rescind or elect not to extend the term of this Lease for the Extension Term.

  
  
   

  
  
  (c)          
      Arbitration.

  
  
   

  
  
  (i)            
      Within 10 days of Tenant’s deemed election to arbitrate Market Rate and escalations, each party shall deliver to the other
      a proposal containing the Market Rate and escalations that the submitting party believes to be correct (“Extension Proposal”).
      If Landlord fails to timely submit an Extension Proposal, Landlord’s original submission will be used for this purpose.
      If Tenant fails to timely submit an Extension Proposal, Landlord’s submitted proposal shall determine the Base Rent and
      escalations for the Extension Term. If both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days
      after delivery of the last Extension Proposal and make a good faith attempt to mutually appoint a single Arbitrator (defined below)
      to determine the Market Rate and escalations. If Landlord and Tenant are unable to agree upon a single Arbitrator, then each shall,
      by written notice delivered to the other within 10 days after the meeting, select an Arbitrator. If either party fails to timely
      give notice of its selection for an Arbitrator, the other party’s submitted proposal shall determine the Base Rent for the
      Extension Term. The 2 Arbitrators so appointed shall, within 5 business days after their appointment, appoint a third Arbitrator.
      If the 2 Arbitrators so selected cannot agree on the selection of the third Arbitrator within the time above specified, then either
      party, on behalf of both parties, may request such appointment of such third Arbitrator by application to any state court of general
      jurisdiction in the jurisdiction in which the Premises are located, upon 10 days prior written notice to the other party of such
      intent.

  
  
  
     

    
      

    

  

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        Arsenal (AOTC) / Disc Medicine - Page 31 

  
  
   

  
  
  (ii)           
      The decision of the Arbitrator(s) shall be made within 30 days after the appointment of a single Arbitrator or the third Arbitrator,
      as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest
      Arbitrators in a three Arbitrator panel shall be final and binding upon the parties. Each party shall pay the fees and expenses
      of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally
      by both parties. If the Market Rate and escalations are not determined by the first day of the Extension Term, then Tenant shall
      pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by
      the Rent Adjustment Percentage until such determination is made. After the determination of the Market Rate and escalations, the
      parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment
      recognizing the Market Rate and escalations for the Extension Term.

  
  
   

  
  
  (iii)          
      An “Arbitrator” shall be any person appointed by or on behalf of either party or appointed pursuant to the
      provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years
      of experience in the appraisal of improved office and high tech industrial real estate in Greater Boston, or (B) a licensed commercial
      real estate broker with not less than 15 years’ experience representing landlords and/or tenants in the leasing of high
      tech or life sciences space in Greater Boston, (ii) devoting substantially all of their time to professional appraisal or brokerage
      work, as applicable, at the time of appointment and (iii) be in all respects impartial and disinterested.

  
  
   

  
  
  (d)          
      Rights Personal. Extension Rights are personal to Disc Medicine, Inc. and any successor pursuant to a Permitted Assignment,
      and otherwise are not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion
      separate and apart from any consent by Landlord to an assignment of Disc Medicine, Inc.’s interest in this Lease.

  
  
   

  
  
  (e)          
      Exceptions. Notwithstanding anything set forth above to the contrary, Extension Rights shall, at Landlord’s option,
      not be in effect and Tenant may not exercise any of the Extension Rights:

  
  
   

  
  
  (i)            
      if Tenant (or successor pursuant to a Permitted Assignment) is not then occupying at least 75% of the Premises;

  
  
   

  
  
  (ii)           
      during any period of time that Tenant is in Default under any provision of this Lease; or

  
  
   

  
  
  (iii)          
      if Tenant has been in Default under any provision of this Lease 3 or more times, whether or not the Defaults are cured, during
      the 12-month period immediately prior to the date that Tenant intends to exercise an Extension Right, whether or not the Defaults
      are cured.

  
  
   

  
  
  (f)           
      No Extensions. The period of time within which any Extension Rights may be exercised shall not be extended or enlarged
      by reason of Tenant’s inability to exercise the Extension Rights.

  
  
  
     

    
      

    

  

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        Arsenal (AOTC) / Disc Medicine - Page 32 

  
  
   

  
  
  (g)          
      Termination. The Extension Rights shall, at Landlord’s option, terminate and be of no further force or effect even
      after Tenant’s due and timely exercise of an Extension Right, if, after such exercise, but prior to the commencement date
      of an Extension Term, (i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or
      more times during the period from the date of the exercise of an Extension Right to the date of the commencement of the Extension
      Term, whether or not such Defaults are cured.

  
  
   

  
  
  41.         
      Shuttle Service. During the Term, Landlord may provide or otherwise arrange for (but shall not be obligated to provide
      or otherwise arrange for) Shuttle Service to and from the Project on weekdays (subject to weather conditions, holidays, Force
      Majeure), and Tenant’s employees shall, subject to seating availability, have the right to use such Shuttle Service at all
      times that such Shuttle Service is in operation and available for use by tenants of the Project. “Shuttle Service”
      shall mean shuttle bus service provided or contracted for by Landlord between the Project and various commuting locations in the
      Watertown/Cambridge/Boston area, as determined by Landlord from time to time. No fee shall be charged to any passenger that utilizes
      the Shuttle Service, provided that all costs of such Shuttle Service shall be included as part of Operating Expenses. Tenant’s
      use of the Shuttle Service shall be at Tenant’s sole risk, and Tenant hereby acknowledges that Landlord shall have no liability
      with respect thereto. Tenant shall indemnify, defend and hold Landlord harmless from and against any Claims by any of Tenant’s
      employees or invitees related to the Shuttle Service or any personal injury or property damage related thereto or arising therefrom.

  
  
   

  
  
  42.         
      Intentionally Omitted.

  
  
   

  
  
  43.         
      Asbestos.

  
  
   

  
  
  (a)          
      Notification of Asbestos. Landlord hereby notifies Tenant of the presence of asbestos-containing materials (“ACMs”),
      presumed asbestos-containing materials (“PACMs”), and/or lead paint within or about the Project in the location
      of the buildings identified in Exhibit G.

  
  
   

  
  
  (b)          
      Tenant Acknowledgement. By execution of this Lease, Tenant hereby acknowledges receipt of the notification in paragraph
      (a) of this Section 43 and understands that the purpose of such notification is to make Tenant and any agents, employees,
      and contractors of Tenant, aware of the presence of ACMs, PACMs, and/or lead paint within or about the Building in order to avoid
      or minimize any damage to or disturbance of such ACMs, PACMs, and/or lead paint.

  
  
   

  
  
  (c)          
      Acknowledgement from Contractors/Employees. Tenant shall give Landlord at least 14 days’ prior written notice before
      conducting, authorizing or permitting any of the activities listed below within or about the Premises, and before soliciting bids
      from any person to perform such services. Such notice shall identify or describe the proposed scope, location, date and time of
      such activities and the name, address and telephone number of each person who may be conducting such activities. Thereafter, Tenant
      shall grant Landlord reasonable access to the Premises to determine whether any ACMs, PACMs, or lead paint will be disturbed in
      connection with such activities. Tenant shall not solicit bids from any person for the performance of such activities without
      Landlord’s prior written approval. Upon Landlord’s request, Tenant shall deliver to Landlord a copy of a signed acknowledgement
      from any contractor, agent, or employee of Tenant acknowledging receipt of information describing the presence of ACMs, PACMs,
      and/or lead paint within or about the Project in the location of the buildings identified in Exhibit G prior to the commencement
      of such activities. Nothing in this Section 43 shall be deemed to expand Tenant’s rights under this Lease or otherwise
      to conduct, authorize or permit any such activities.

  
  
   

  
  
  (i)            
      Removal of thermal system insulation (“TSI”) and surfacing ACMs and PACMs (i.e., sprayed-on or troweled-on
      material, e.g., textured ceiling paint or fireproofing material);

  
  
   

  
  
  (ii)           
      Removal of ACMs or PACMs that are not TSI or surfacing ACMs or PACMs; or

  
  
   

  
  
  (iii)          
      Repair and maintenance of operations that are likely to disturb ACMs or PACMs.

  
  
  
     

    
      

    

  

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        Arsenal (AOTC) / Disc Medicine - Page 33 

  
  
   

  
  
  44.         
      Disclosure of Encumbrances.

  
  
   

  
  
  (a)          
      Acknowledgement. Tenant hereby acknowledges that the Project is a historic site listed on the National Register of Historic
      Places that was formerly owned and operated by the United States Army for research and production of military weapons and related
      materials dating back to the mid-1800s, and that such uses included those that impacted the environmental condition of the Project.
      Accordingly, the Project is subject to various restrictions related to the historical significance of certain aspects of the Project
      and environmental contamination of other aspects of the Project. Tenant has been given the opportunity to review all such matters
      to its satisfaction and Landlord makes no representations, warranties or assurances with respect thereto.

  
  
   

  
  
  (b)          
      Deed. Notwithstanding anything contained in this Lease to the contrary, the Premises (and Tenant’s rights therein)
      are subject to all easements, restrictions and encumbrances now or hereafter of record so long as the same may be in force and
      effect, including without limitation all easements, restrictions and covenants contained in that certain Quitclaim Deed dated
      August 20, 1998, recorded with the Middlesex Southern District Registry of Deeds at Book 29012, Page 420, from the United States
      of America, acting by and through the Secretary of the Army (the “Army”), to the Watertown Arsenal Development
      Corporation, with respect to the Premises (the “Army Deed”), which Army Deed is incorporated by reference and
      includes, without limitation, (i) covenants in Part IV of the Army Deed associated with the Army’s obligations under the
      Federal Facility Agreement between the Army and the United States Environmental Protection Agency and (ii) covenants in Part XI
      associated with certain historical resources at the Premises.

  
  
   

  
  
  (c)          
      Environmental Grant. Notice is hereby given that a Grant of Environmental Restriction and Easement, dated August 11, 1998,
      pursuant to Massachusetts General Laws Chapter 21E, has been recorded by the Army with the Middlesex Southern District Registry
      of Deeds at Book 28978, Page 549; as amended by a First Amendment to Grant of Environmental Restriction and Easement, dated February
      5, 1999, recorded at Book 29779, Page 359; as affected by a Subordination Agreement, dated March 16, 1999, recorded at Book 29957,
      Page 104; as further affected by a Subordination Agreement, dated March 24, 1999, recorded at Book 29985, Page 151; as further
      amended by a Second Amendment to Grant of Environmental Restriction and Easement, dated April 15, 1999, recorded at Book 30066,
      Page 116; as further affected by a Partial Release of Environmental Restriction and Easement, dated June 10, 1999, recorded at
      Book 30278, Page 511; as further amended by a Third Amendment to Grant of Environmental Restriction and Easement, dated June 7,
      1999, recorded at Book 30278, Page 513; as further amended by a Fourth Amendment to Grant of Environmental Restriction and Easement,
      dated July 22, 2000, recorded at Book 31682, Page 99; as further amended by a Fifth Amendment to Grant of Environmental Restriction
      and Easement dated July 14, 2004, and recorded with said Registry of Deeds in Book 44119, Page 1; as affected by a plan entitled
      “Plan Showing Excavation Areas B, E, and G in Watertown, Massachusetts,” dated February 20, 2002, as revised on September
      25, 2002, prepared by Dunn McKenzie, Inc., recorded as Plan No. 1348 of 2004; as further amended by a Sixth Amendment to Grant
      of Environmental Restriction and Easement dated March 21, 2005, and recorded with said Registry of Deeds in Book 45129, Page 1;
      as further affected by a plan entitled “Plan Showing Commercial Reuse Area in Watertown, Massachusetts,” dated October
      25, 2004, as revised on March 16, 2005, prepared by Dunn McKenzie, Inc., recorded as Plan No. 523 of 2005; as further amended
      by a Seventh Amendment to Grant of Environmental Restriction and Easement dated August 9, 2006, and recorded with said Registry
      of Deeds in Book 48562, Page 187; and as further affected by a plan entitled “Plan Showing Commercial Reuse Area in Watertown,
      Massachusetts,” dated August 16, 2004, as revised on March 16, 2005 and February 10, 2006, prepared by Dunn McKenzie, Inc.,
      recorded as Plan No. 1480 of 2006 (the “Grant”). This restriction on the activities conducted on the Premises
      and use limitations contained in the Grant are hereby incorporated by reference and shall be independently enforceable by the
      Army under the Grant as a restrictive covenant and equitable servitude.

  
  
  
     

    
      

    

  

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        Arsenal (AOTC) / Disc Medicine - Page 34 

  
  
   

  
  
  (d)          
      Activity and Use Limitations. Notice is hereby further given that the following three (3) Notices of Activity and Use Limitations,
      pursuant to Massachusetts General Laws Chapter 21E, have been recorded with the Middlesex Southern District Registry of Deeds:
      (i) dated August 11, 1998, recorded at Book 28959, Page 92; (ii) dated August 11, 1998, recorded at Book 28959, Page 190, as amended
      by a First Amendment to Notice of Activity and Use Limitations, dated October 26, 1999, recorded at Book 30801, Page 319, as further
      amended by a Second Amendment to Notice of Activity and Use Limitations, dated December 9, 2019, recorded at Book 73807, Page
      226; and (iii) dated February 4, 1999, recorded at Book 29766, Page 17, as amended by a First Amendment to Notice of Activity
      and Use Limitations, dated August 19th, 2004, recorded at Book 43589, Page 438, and as further amended by a Second Amendment to
      Notice of Activity and Use Limitation, dated February 28, 2005, recorded at Book 44737, Page 453 (collectively, the “Notices
        of AULs”). The restriction on activities conducted on the Premises and use limitations contained in the Notices of AULs
      are hereby incorporated by reference and shall be independently enforceable by the Army as a restrictive covenant and equitable
      servitude.

  
  
   

  
  
  45.         
      Miscellaneous.

  
  
   

  
  
  (a)          
      Notices. All notices or other communications between the parties shall be in writing and shall be deemed duly given upon
      delivery or refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by
      reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth above. Landlord and Tenant
      may from time to time by written notice to the other designate another address for receipt of future notices.

  
  
   

  
  
  (b)          
      Joint and Several Liability. If and when included within the term “Tenant,” as used in this instrument,
      there is more than one person or entity named as Tenant, each shall be jointly and severally liable for the obligations of Tenant.

  
  
   

  
  
  (c)          
      Financial Information. Tenant shall furnish Landlord  with true and complete copies of (i) Tenant’s most
      recent audited annual financial statements within 90 days of the end of each of Tenant’s fiscal years during the Term, provided,
      however, unaudited annual financial statements will be acceptable if Tenant does not have and will not obtain audited annual financial
      statements, provided such unaudited annual financials are accompanied by a treasurer’s certificate attesting to the accuracy
      of such unaudited annual financial statements, (ii) Tenant’s most recent unaudited quarterly financial statements within
      45 days of the end of each of Tenant’s fiscal quarters during each of Tenant’s fiscal years during the Term, (iii)
      at Landlord’s request from time to time, updated business plans, including cash flow projections and/or pro forma balance
      sheets and income statements, all of which shall be treated by Landlord as confidential information belonging to Tenant, (iv)
      corporate brochures and/or profiles prepared by Tenant for prospective investors, at Landlord’s request from time to time,
      and (v) at Landlord’s request from time to time, any other financial information or summaries that Tenant typically provides
      to its lenders or shareholders. So long as Tenant is a “public company” and its financial information is publicly
      available, then the foregoing delivery requirements of this Section 45(c) shall not apply.

  
  
   

  
  
  (d)          
      Recordation. Neither this Lease nor a notice of lease shall be filed by or on behalf of Tenant in any public record. Landlord
      may prepare, and upon request by Landlord, Tenant will execute, a notice of lease, which Landlord may then cause to have recorded
      in the applicable public record at Tenant’s expense. If a notice of lease shall be filed, promptly following the expiration
      or earlier termination of this Lease, Landlord and Tenant shall execute a notice of termination of lease in a mutually acceptable
      form (the “Notice of Termination”), acknowledging the termination of this Lease. In the event that Tenant fails
      to execute such Notice of Termination within 10 days after Landlord delivers same to Tenant, Tenant hereby irrevocably appoints
      Landlord as Tenant’s attorney-in-fact coupled with an interest (which appointment shall survive the expiration or early
      termination of the Term) with full power of substitution to execute, acknowledge, and deliver the Notice of Termination in Tenant’s
      name.

  
  
   

  
  
  (e)          
      Interpretation. The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
      party shall not be employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any gender used
      in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to include
      the plural, unless the context otherwise requires. The captions inserted in this Lease are for convenience only and in no way
      define, limit or otherwise describe the scope or intent of this Lease, or any provision hereof, or in any way affect the interpretation
      of this Lease. Each term and provision of this Lease to be performed and observed by Tenant shall be construed to be both a covenant
      and a condition. Tenant’s covenants contained in this Lease are independent and not dependent, and Tenant hereby waives
      the benefit of any statute or judicial law to the contrary. Tenant’s obligation to pay Rent shall not be discharged or otherwise
      affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use,
      or (except as expressly provided in this Lease) any casualty or taking, or any failure by Landlord to perform any covenant contained
      herein, or any other occurrence; and no termination or abatement remedy that is not expressly provided for in this Lease for any
      breach or failure by Landlord to perform any obligation under this Lease shall be implied or applicable as a matter of law.

  
  
  
     

    
      

    

  

  321
        Arsenal (AOTC) / Disc Medicine - Page 35 

  
  
   

  
  
  (f)           
      Not Binding Until Executed. The submission by Landlord to Tenant of this Lease shall have no binding force or effect, shall
      not constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until
      execution of this Lease by both parties.

  
  
   

  
  
  (g)          
      Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law governing
      the maximum rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted
      so as to render usurious any interest called for under this Lease, or contracted for, charged, taken, reserved, or received with
      respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected
      by Landlord be credited on the applicable obligation (or, if the obligation has been or would thereby be paid in full, refunded
      to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder
      reduced, without the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit
      the recovery of the fullest amount otherwise called for hereunder.

  
  
   

  
  
  (h)          
      Choice of Law. Construction and interpretation of this Lease shall be governed by the internal laws of the Commonwealth
      of Massachusetts, excluding any principles of conflicts of laws. Each of Landlord and Tenant acknowledges and agrees that all
      disputes arising, directly or indirectly, out of or relating to this Lease shall be dealt with by application of the laws of the
      Commonwealth of Massachusetts and adjudicated in the state courts of the Commonwealth of Massachusetts sitting in Middlesex County
      or the United States District Court for the District of Massachusetts; and hereby expressly and irrevocably submits to the jurisdiction
      of such courts in any suit, action or proceeding arising, directly or indirectly, out of or relating to this Lease. So far as
      is permitted under the applicable law, this consent to personal jurisdiction shall be self-operative and no further instrument
      or action, other than service of process in one of the manners permitted by law, shall be necessary in order to confer jurisdiction
      upon either party in any such court.

  
  
   

  
  
  (i)            
      Time. Time is of the essence as to the performance of Tenant’s obligations under this Lease.

  
  
   

  
  
  (j)            
      OFAC. Tenant and all beneficial owners of Tenant are currently (a) in compliance with and shall at all times during the
      Term of this Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”)
      of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC
        Rules”), (b) not listed on, and shall not during the Term of this Lease be listed on, the Specially Designated Nationals
      and Blocked Persons List, Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification List, which are all maintained
      by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute,
      executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business
      under the OFAC Rules.

  
  
   

  
  
  (k)          
      Incorporation by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease and made a
      part hereof. If there is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall
      control.

  
  
   

  
  
  (l)            
      Entire Agreement. This Lease, including the exhibits attached hereto, constitutes the entire agreement between Landlord
      and Tenant pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, letters
      of intent, negotiations and discussions, whether oral or written, of the parties, and there are no warranties, representations
      or other agreements, express or implied, made to either party by the other party in connection with the subject matter hereof
      except as specifically set forth herein.

  
  
  
     

    
      

    

  

  321
        Arsenal (AOTC) / Disc Medicine - Page 36 

  
  
   

  
  
  (m)         
      No Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment
      of Base Rent or any Additional Rent will be other than on account of the earliest stipulated Base Rent and Additional Rent, nor
      will any endorsement or statement on any check or letter accompanying a check for payment of any Base Rent or Additional Rent
      be an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover
      the balance of such Rent or to pursue any other remedy provided in this Lease.

  
  
   

  
  
  (n)          
      Intentionally Omitted.

  
  
   

  
  
  (o)          
      Redevelopment of Project. Tenant acknowledges that Landlord intends to undertake significant renovations and/or construction
      at the Project, including, without limitation, for lab, office and retail uses, and including, without limitation, the creation
      of one or more Amenities or Amenity buildings or centers. Landlord expressly reserves the right, in its sole discretion, from
      time to time to expand, develop, renovate, redevelop, alter, improve, maintain, construct, demolish, relocate and/or reconfigure
      the Project (or portions thereof) and buildings, Common Areas (including parking and site drives) and other improvements therein,
      as the same may exist from time to time and, in connection therewith or in addition thereto, as the case may be, from time to
      time without limitation:  (a) change the shape, size, location, number and/or extent or existence of any improvements, buildings,
      structures, lobbies, hallways, entrances, exits, parking and/or parking areas; (b) modify, eliminate and/or add any buildings,
      improvements, and parking structure(s) either above or below grade, from or to the Project, the Amenities or other Common Areas
      and/or any other portion of the Project and/or make any other changes thereto affecting the same; (c) amend any existing land
      use and zoning approvals for the Project (including, without limitation, any special permit applicable to the Project) and seek
      additional approvals, relief or zoning amendments in connection with any future expansion, development, renovation, redevelopment,
      alteration, demolition, relocation, improvement, operation, maintenance or repair of the Project (including, without limitation,
      the Common Areas); and (d) make any other changes, additions and/or deletions in any way affecting the Project and/or any portion
      thereof as Landlord may elect from time to time, including without limitation, creation and/or elimination of, and/or additions
      to and/or deletions from, the land comprising the Project, the Amenities or other Common Areas and/or any other portion of the
      Project. Landlord shall have the right, in connection with such contemplated activities, to subject the Project and its appurtenant
      rights to easements for the construction, reconstruction, alteration, demolition, relocation, improvement, operation, repair or
      maintenance of elements thereof, for access and egress, for parking, for the installation, maintenance, repair, replacement or
      relocation of utilities serving the Project, and to subject the Project to such other rights, agreements, and covenants for such
      purposes as Landlord may determine; provided that such rights, agreements, and covenants do not change Tenant’s Permitted
      Use of the Premises. This Lease shall be subject and subordinate to all such matters. For the avoidance of doubt, however, Landlord
      shall have no obligation to undertake any action described in this Section 45(o), and Tenant is not entering into this
      Lease in reliance of Landlord making any alteration to the Project or any other action described in this Section 45(o).

  
  
   

  
  
  Tenant
      hereby agrees that this Lease shall be subject and subordinate to any expansion, development, renovation, redevelopment, alteration,
      improvement, maintenance, demolition, relocation and/or reconfiguration activity, or any other matter set forth in this Section
        45(o), and, in connection with such activity or matter, Landlord may, from time to time, cause the rentable square footage
      of the Premises, the Building and/or the Project to be remeasured by Landlord’s architect. Neither Tenant nor any affiliate
      of Tenant shall take any action, directly or indirectly, to oppose any of the foregoing activities by Landlord or its affiliates.
      Landlord and its agents, employees, licensees and contractors shall also have the right to undertake work pursuant to any actions
      contemplated above; to shore up the foundations and/or walls of the Building (or any other structures within the Project); to
      erect scaffolding and protective barricades around, within or adjacent to the Building (or any other structures within the Project);
      to close off Common Areas; and to do any other act necessary for the safety of the Building (or any other structures within the
      Project) or the expeditious completion of such work. Tenant acknowledges that construction noise, vibrations and dust, and alterations
      of traffic patterns or parking, associated with construction activities are to be expected during the course of such construction.
      Notwithstanding anything to the contrary contained in this Lease, Tenant shall have no right to cancel or terminate this Lease
      and Landlord shall not be liable to Tenant for any damages, compensation or reduction of Rent by reason of (i) inconvenience or
      annoyance or for loss of business resulting from any act by Landlord pursuant to this Section 45(o), or (ii) any changes,
      expansion, renovation or reconfiguration of the Project; nor shall Tenant have the right to restrict, inhibit or prohibit any
      such changes, expansion, renovation or reconfiguration, provided, however, Landlord shall not change Tenant’s Permitted
      Use of the Premises.

  
  
  
     

    
      

    

  

  321
        Arsenal (AOTC) / Disc Medicine - Page 37 

  
  
   

  
  
  (p)          
      Discontinued Use. If, at any time following the Commencement Date, Tenant (and/or any assignee or subtenant) does not continuously
      operate a portion of its business in the Premises for a period of 180 consecutive days, other than due to a Force Majeure, Landlord
      may, but is not obligated to, elect to terminate this Lease upon 30 days’ written notice to Tenant, whereupon this Lease
      shall terminate 30 days after Landlord’s delivery of such written notice (“Termination Date”), and Tenant
      shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or
      before the Termination Date and Tenant shall have no further obligations under this Lease except for those accruing prior to the
      Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease.

  
  
   

  
  
  (q)          
      Counterparts. This Lease may be executed in 2 or more counterparts, each of which shall be deemed an original, but all
      of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including
      pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any
      counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
      Electronic signatures shall be deemed original signatures for purposes of this Lease and all matters related thereto, with such
      electronic signatures having the same legal effect as original signatures.

  
  
   

  
  
  (r)           
      Non-Disclosure of Terms. Tenant acknowledges and agrees that the terms of this Lease are confidential and constitute proprietary
      information of Landlord. Disclosure of such terms may adversely affect the ability of Landlord and its affiliates to negotiate,
      manage, and administer other leases and impair Landlord’s relationship with other tenants. Accordingly, as a material inducement
      for Landlord to enter into this Lease, Tenant, on behalf of itself and its partners, managers, members, officers, directors, employees,
      agents, and attorneys, agrees that it shall not disclose the terms and conditions of this Lease to any publication or other media
      or any tenant or apparent prospective tenant of the Building or other portion of the Project, or real estate agent or broker,
      either directly or indirectly.

  
  
   

  
  
  (s)          
      Prevailing Party’s Fees. In the event that either party should bring suit or commence any suit or proceeding related
      to this Lease, then all reasonable costs and expenses, including reasonable attorneys’ fees and expert fees, incurred by
      the prevailing party relating to such legal action shall be paid by the other party, which obligation on the part of the other
      party shall be deemed to have accrued on the date of the commencement of such action and shall be enforceable whether or not the
      action is prosecuted to judgment.

  
  
   

  
  
  [
        Signatures on next page ]

  
  
  
     

    
      

    

  

   

  
  
  IN
      WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the date first above written.

  
  
   

  

  
  	 	TENANT:	 
	 	 	 
	 	DISC MEDICINE, INC., a Delaware corporation
	 	 	 
	 	By: 	/s/ John Quisel
	 	Name: 	John Quisel
	 	Title:	Chief Executive Officer
	 	 	 
	 	☒ I hereby certify that the signature, name, and title above are my signature, name and title.

  
  
   

  

  
  	 	LANDLORD:
	 	 	 	 	 
	 	ARE-MA Region No. 75, LLC,

            a Delaware limited liability company
	 	 	 	 	 
	 	By: 	Alexandria Real Estate Equities, L.P., a Delaware limited partnership, managing member
	 	 	 	 	 
	 	 	By:	ARE-QRS Corp., a Maryland corporation, general partner
	 	 	 	 	 
	 	 	 	By:	/s/ Kristen Childs
	 	 	 	Name:	Kristen Childs
	 	 	 	Title:	Vice President – Real Estate L

  

  
   

  
  
  [Signature
      Page to Lease Agreement – 321 Arsenal Street] 

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. A

  
  
   

  
  
  EXHIBIT
        A 

  
  
   

  
  
  DESCRIPTION
          OF PREMISES

  
  
   

  
  
   

  

  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. B

  
  
   

  
  
  EXHIBIT
        B 

  
  
   

  
  
  DESCRIPTION
          OF PROJECT

  
  
   

  
  
  A
      certain parcel of land with the buildings thereon situated on the Southerly side of Arsenal Street in Watertown, Middlesex County,
      Massachusetts and being shown as Lot 1 on a plan entitled “Plan of Land in Watertown, Massachusetts” dated June 19,
      1997, prepared by Dunn-McKenzie, Inc. and recorded with the Middlesex South Registry of Deeds on August 5, 1998 as Plan No. 832
      in Book 28930, Page 478, bounded and described as follows:

  
  
   

  
  
  Beginning
      on the southerly sideline of Arsenal Street at the Northwesterly corner of Arsenal Associates Land being the Northeasterly corner
      of Lot 1 on the easterly sideline of Talcott Street (a private road); thence

  
  
   

  
  
  	SOUTH 13° 53’-39” WEST 	a distance of 737.70 feet by Arsenal Associates and
            Town of Watertown land to an angle in said property; thence

  
  
   

  
  
  	SOUTH 11° 42’-25” EAST 	a distance of 2.67 feet to a corner of Lot 2; thence

  
  
   

  
  
  	NORTH 76° 03’-07” WEST 	a distance of 438.96 feet through a granite bound to
            a Hex-rod (set) for a corner; thence

  
  
   

  
  
  	SOUTH 19° 17’-48” WEST 	a distance of 125.38 feet to an Iron Rod (set) for a
            corner; thence

  
  
   

  
  
  	SOUTH 50° 21’-36” WEST 	a distance of 163.25 feet to an Iron Rod (set) at North
            Beacon Street on curve for a corner; thence

  
  
   

  
  
  	

        	NORTHWESTERLY	on a curve to the right having a radius of 586.00 feet, an arc distance of 160.79 feet to the point of tangency; thence

  
  
   

  
  
  	NORTH 20° 36’-23” WEST 	a distance of 292.07 feet to the point of curvature;
            thence

  
  
   

  
  
  	

        	NORTHWESTERLY	on a curve to the left having a radius of 627.44 feet, an arc distance of 465.40 feet to the point of tangency; thence

  
  
   

  
  
  	NORTH 63° 06’-20” WEST 	a distance of 707.76 feet to a slight angle break; thence

  
  
   

  
  
  	NORTH 63° 43’50” WEST 	a distance of 101.12 feet to a corner of land of Burnham
            Manning Post #1105-Veterans of Foreign Wars of U.S.A., Inc. the last five courses being by North Beacon Street; thence

  
  
   

  
  
  	NORTH 25° 59’-00” EAST 	a distance of 435.94 feet to a corner of Arsenal Street;
            thence

  
  
   

  
  
  	SOUTH 69° 39’-19” EAST 	a distance of 1455.13 feet to a Stone Bound at a slight
            angle break; thence

  
  
   

  
  
  	SOUTH 68° 05’-21” EAST 	a distance of 451.60 feet to a corner at the point and
            place of beginning, the last two courses being by Arsenal Street.

  
  
   

  
  
  Lot
      1 contains 1,281,841 square feet (29.42 Acres) more or less.

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. C

  
  
   

  
  
  EXHIBIT
        C 

  
  
   

  
  
  WORK
          LETTER

  
  
   

  
  
  This
      WORK LETTER (this “Work Letter”) is incorporated into that certain Lease Agreement (the “Lease”)
      dated as of October 29, 2021, by and between ARE-MA REGION NO. 75, LLC, a Delaware corporation (“Landlord”),
      and DISC MEDICINE, INC., a Delaware corporation (“Tenant”). Any initially capitalized terms used but not defined
      herein shall have the meanings given them in the Lease.

  
  
   

  
  
  1.       General
        Requirements.

  
  
   

  
  
  (a)       Tenant’s
        Authorized Representative. Tenant designates Betty Quigley and Joanne Bryce (either such individual acting alone, “Tenant’s
        Representative”) as the only persons authorized to act for Tenant pursuant to this Work Letter. Landlord shall not be
      obligated to respond to or act upon any request, approval, inquiry or other communication (“Communication”)
      from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing from Tenant’s Representative.
      Tenant may change either Tenant’s Representative at any time upon not less than 5 business days advance written notice to
      Landlord. Neither Tenant nor Tenant’s Representative shall be authorized to direct Landlord’s contractors in the performance
      of Landlord’s Work (as hereinafter defined).

  
  
   

  
  
  (b)       Landlord’s
        Authorized Representative. Landlord designates Tim White and Suzie Markin (either such individual acting alone, “Landlord’s
        Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be
      obligated to respond to or act upon any request, approval, inquiry or other Communication from or on behalf of Landlord in connection
      with this Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change either
      Landlord’s Representative at any time upon not less than 5 business days advance written notice to Tenant. Landlord’s
      Representative shall be the sole persons authorized to direct Landlord’s contractors in the performance of Landlord’s
      Work.

  
  
   

  
  
  (c)       Architects,
        Consultants and Contractors. Siena Construction shall be the general contractor and Cube3 Architects shall be the architect
      (the “Landlord Architect”) for the Landlord Work; provided that Landlord shall have the right to replace Siena
      Construction and Cube3 Architects.

  
  
   

  
  
  2.       Performance
        of Landlord’s Work.

  
  
   

  
  
  (a)       Definition
        of Landlord’s Work. As used herein, “Landlord’s Work” shall mean the construction, completion
      and installation of the improvements and fixtures within the Premises as depicted on and materially in accordance with the construction
      plans and specification listed on Schedule 1 attached hereto (the “Construction Plans”). A complete
      copy of such construction plans has previously been provided by Landlord to Tenant. For the avoidance of doubt, such construction
      plans include substantial areas outside of the Premises, but “Landlord’s Work” as used herein shall consist
      only of that portion of the construction work shown on such construction plans located within the Premises and, for the purposes
      of the Lease and this Work Letter, the term “Construction Plans” shall only mean those portions of such construction
      plans depicting work within the Premises. Tenant shall be solely responsible for ensuring that the design and specifications for
      Landlord’s Work are consistent with Tenant’s requirements. Landlord shall be responsible for obtaining all permits,
      approvals and entitlements necessary for Landlord’s Work, but shall have no obligation to, and shall not, secure any permits,
      approvals or entitlements related to Tenant’s specific use of the Premises or Tenant’s business operations therein.

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC)
      / Disc Medicine – Ex. C

  
  
   

  
  
  (b)       Changes.
      If Tenant shall request changes to Landlord’s Work (“Changes”), Tenant shall request such Changes by
      delivery of written notice to Landlord detailing the nature and extent of any such Change (a “Change Request”).
      Such Change Request must be signed by Tenant’s Representative. Landlord shall use commercially reasonable efforts to respond
      to Tenant as soon as is reasonably possible with an estimate of: (i) the time it will take to analyze the Change Request, and
      (ii) the architectural and engineering fees and costs that will be incurred, to analyze such Change Request (which costs shall
      be paid for by Tenant to the extent actually incurred, whether or not such change is implemented). Landlord shall thereafter submit
      to Tenant in writing an analysis of the costs anticipated to be incurred by Landlord as a result of such Changes (including to
      analyze, design and implement the same), including, without limitation, architectural and engineering costs (collectively, “Change
        Costs”) and the period of time, if any, that the Change (including to analyze, design and implement the same) is expected
      to extend the date on which Landlord’s Work will be Substantially Complete. Any delay in the completion of Landlord’s
      Work caused by a Change (whether more or less than estimated, anticipated or expected), including any suspension of Landlord’s
      Work while any such Change is being evaluated and/or designed, shall be Tenant Delay (without the need for notice to Tenant identifying
      it as such). Any Change will be subject to Landlord’s approval in its sole discretion.

  
  
   

  
  
  If
      Landlord approves the Change and Tenant approves in writing the estimated Change Costs and the estimated extension in the time
      for completion of Landlord’s Work, Landlord shall cause the approved Changes to be instituted. Notwithstanding anything
      to the contrary contained herein, Landlord shall have the right to institute Tenant’s requested Changes prior to approval
      by Tenant of the estimated Change Costs and/or the estimated extension of the time for completion of Landlord’s Work to
      the extent Landlord deems it appropriate to promptly incorporate such Changes into its construction schedule. Notwithstanding
      any approval or disapproval by Tenant of any estimated, anticipated or expected Change Costs or delay caused by such proposed
      Change, Tenant shall be responsible for the actual Change Costs (whether more or less than estimated, anticipated or expected)
      and the Landlord Architect’s determination of the actual amount of Tenant Delay in connection with such Change shall be
      final and binding on Landlord and Tenant (whether more or less than estimated, anticipated or expected). Tenant shall pay to Landlord
      upon demand the actual Change Costs. If Tenant fails to timely pay such amounts to Landlord, then Landlord shall have all of the
      rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the
      Default Rate and the right to assess a late charge). For all purposes including purposes of any litigation instituted with regard
      to such amounts, those amounts will be deemed Rent under the Lease.

  
  
   

  
  
  Tenant
      acknowledges that Landlord has already made certain changes to the Construction Plans at Tenant’s request and is in the
      process of making certain changes to the Construction Plans at Tenant’s request, such changes being subject to Landlord’s
      approval (collectively, the “Previously Agreed Modifications”). The Previously Agreed Modifications are generally
      described in Schedule 2 attached hereto. Tenant will reimburse Landlord for the actual cost to design and construct the Previously
      Agreed Modifications upon the Commencement Date (whether listed on Schedule 2 or not and whether more or less than those
      set forth on Schedule 2), and any delay in the design or construction of Landlord’s Work on account of the design
      and construction of the Previously Agreed Modifications shall be a Tenant Delay without further notice from Landlord (whether
      more or less than that set forth on Schedule 2). Notwithstanding the foregoing, Landlord hereby acknowledges that the Previously
      Agreed Modifications set forth on Schedule 2 attached hereto shall not be a Tenant Delay. In the event of a dispute concerning
      the amount of such Tenant Delay, the same will be resolved by Landlord’s Architect.

  
  
   

  
  
  (c)       Completion
        of Landlord’s Work. Landlord shall substantially complete or cause to be substantially completed Landlord’s Work
      in a good and workmanlike manner, in material compliance with the Construction Plans, subject, in each case, to Minor Variations
      and normal “punch list” items of a non-material nature that do not interfere with the use of the Premises. Landlord’s
      Work shall be deemed “Substantial Complete” when (i) the Landlord Architect and the general contractor execute
      and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute
      of Architects (“AIA”) document G704, and (ii) a certificate of occupancy permitting lawful occupancy (temporary
      or permanent) or a signed building card from the city inspectors has been issued or obtained permitting lawful occupancy of the
      space unless the same cannot be obtained due to work or other activities of Tenant. For purposes of this Work Letter, “Minor
        Variations” shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or
      to obtain or to comply with any required permit; (ii) to comport with good design, engineering, and construction practices that
      are not material; or (iii) to make reasonable adjustments for field deviations or conditions encountered during the construction
      of Landlord’s Work.

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC)
      / Disc Medicine – Ex. C

  
  
   

  
  
  (d)       Selection
        of Materials. Where a material or structure is not indicated on the Construction Plans, the option will be selected at Landlord’s
      sole and absolute subjective discretion. As to all building materials and equipment that Landlord is obligated to supply under
      this Work Letter, Landlord shall select the manufacturer thereof in its sole and absolute subjective discretion.

  
  
   

  
  
  (e)       Delivery
        of the Premises. When Landlord’s Work is Substantially Complete, subject to the remaining terms and provisions of this
      Section 3(e), Tenant shall accept the Premises. Tenant’s taking possession and acceptance of the Premises shall not
      constitute a waiver of: (i) any warranty with respect to workmanship (including installation of equipment) or material (exclusive
      of equipment provided directly by manufacturers), (ii) any non-compliance of Landlord’s Work with applicable Legal Requirements,
      or (iii) any claim that Landlord’s Work was not completed substantially in accordance the Construction Plans (subject to
      Minor Variations and such other changes as are permitted hereunder) (collectively, a “Construction Defect”).
      Tenant shall have one year after Substantial Completion within which to notify Landlord of any such Construction Defect discovered
      by Tenant, and Landlord shall use reasonable efforts to remedy or cause the responsible contractor to remedy any such Construction
      Defect within 30 days thereafter. Notwithstanding the foregoing, Landlord shall not be in default under the Lease if the applicable
      contractor, despite Landlord’s reasonable efforts, fails to remedy such Construction Defect within such 30- day period,
      in which case Landlord shall have no further obligation with respect to such Construction Defect other than to cooperate, at no
      cost to Landlord, with Tenant should Tenant elect to pursue a claim against such contractor, provided that Tenant shall defend
      with counsel reasonably acceptable to Landlord, indemnify and hold Landlord harmless from and against any claims arising out of
      or in connection with any such claim.

  
  
   

  
  
  Tenant
      shall be entitled to receive the benefit of all construction warranties and manufacturer’s equipment warranties relating
      to equipment installed in the Premises. Landlord shall promptly undertake and complete, or cause to be completed, all punch list
      items.

  
  
   

  
  
  (f)       Commencement
        Date Delay. Except as otherwise provided in this Lease, Delivery of the Premises shall occur when Landlord’s Work has
      been Substantially Completed, except to the extent that completion of Landlord’s Work shall have been actually delayed by
      any act or omission of Tenant or any Tenant Party (as defined in the Lease), or persons employed by any of such persons, or by
      any other reason defined as a Tenant Delay in this Work Letter (“Tenant Delay”), in which case, Landlord shall
      cause the Landlord Architect to certify the date on which Landlord’s Work would have been Substantially Completed but for
      such Tenant Delay and such certified date shall be the date of Delivery.

  
  
   

  
  
  3.       Tenant
        Access.

  
  
   

  
  
  (a)       Tenant’s
        Access Rights. Except to the extent expressly set forth in the Construction Plans, Tenant shall be responsible for its own
      tel/data cabling, furniture, fixtures, and equipment, the installation of which shall be subject to the provisions of the Lease
      and this Work Letter. Landlord hereby agrees to permit Tenant access, at Tenant’s sole risk and expense, to the Building
      (i) in advance of the Commencement Date as indicated on Landlord’s project schedule for the FF&E Installation (as defined
      in the Lease) and the installation of Tenant’s tel/data cabling, provided that such installation and setup is coordinated
      with the Landlord Architect and the general contractor, and complies with the Lease and all other reasonable restrictions and
      conditions Landlord may impose, and (ii) prior to the completion of Landlord’s Work, to inspect and observe work in process;
      all such access shall be during normal business hours or at such other times as are reasonably designated by Landlord. Notwithstanding
      the foregoing, Tenant shall have no right to enter onto the Premises or the Project unless and until Tenant shall deliver to Landlord
      evidence reasonably satisfactory to Landlord demonstrating that any insurance reasonably required by Landlord in connection with
      such pre-commencement access (including, but not limited to, any insurance that Landlord may require pursuant to the Lease) is
      in full force and effect. Any entry by Tenant shall comply with all established safety practices of Landlord’s contractor
      and Landlord until completion of Landlord’s Work and acceptance thereof by Tenant.

  
  
   

  
  
  (b)       No
        Interference. Neither Tenant nor any Tenant Party (as defined in the Lease) shall interfere with the performance of Landlord’s
      Work, nor with any inspections or issuance of final approvals by applicable Governmental Authorities, and upon any such interference,
      Landlord shall have the right to exclude Tenant and any Tenant Party from the Premises and the Project until Substantial Completion
      of Landlord’s Work.

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC)
      / Disc Medicine – Ex. C

  
  
   

  
  
  (c)       No
        Acceptance of Premises. The fact that Tenant may, with Landlord’s consent, enter into the Project prior to the date
      Landlord’s Work is Substantially Complete for the purpose of the FF&E Installation and the installation of Tenant’s
      tel/data cabling shall not be deemed an acceptance by Tenant of possession of the Premises, but in such event Tenant shall defend
      with counsel reasonably acceptable by Landlord, indemnify and hold Landlord harmless from and against any loss of or damage to
      Tenant’s property, completed work, fixtures, equipment, materials or merchandise, and from liability for death of, or injury
      to, any person, caused by the act or omission of Tenant or any Tenant Party.

  
  
   

  
  
  4.       Miscellaneous.

  
  
   

  
  
  (a)       Miscellaneous
        Charges. Tenant shall not be charged for freight elevators, security, access to loading docks, parking, utilities, or temporary
      HVAC during Tenant’s move into the Building, provided that said activities occur during normal Building hours.

  
  
   

  
  
  (b)       Modification.
      No modification, waiver or amendment of this Work Letter or of any of its conditions or provisions shall be binding upon Landlord
      or Tenant unless in writing signed by Landlord and Tenant.

  
  
   

  
  
  (c)       No
        Default. In no event shall Landlord have any obligation to perform any Landlord’s Work during any period that Tenant
      is in Default under the Lease.

  
  
   

  
  
  [Remainder
        of page left blank]

  
  
   

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. D

  
  
   

  
  
  EXHIBIT
        D

  
  
   

  
  
  ACKNOWLEDGEMENT
          OF COMMENCEMENT DATE

  
  
   

  
  
  This
      ACKNOWLEDGMENT OF COMMENCEMENT DATE is made as of this ____ day of ______________, 202____, between ARE-MA REGION NO. 75, LLC,
      a Delaware limited liability company (“Landlord”), and DISC MEDICINE, INC., a _____________ (“Tenant”),
      and is attached to and made a part of that certain Lease Agreement dated as of _____________, 2021 (the “Lease”),
      by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given
      them in the Lease.

  
  
   

  
  
  Landlord
      and Tenant hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease
      is _____________, 202____, and the expiration date of the Base Term of the Lease shall be at 11:59 p.m. on ______________, 20____.
      In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement Date, this Acknowledgment
      of Commencement Date shall control for all purposes.

  
  
   

  
  
  IN
      WITNESS WHEREOF, Landlord and Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first
      above written.

  
  
   

  
  
  TENANT:

  
  
   

  
  
  DISC
      MEDICINE, INC.,

      a Delaware corporation

  
  
   

  

  
  	By:	 	 

  
  
  	Name:	 	 

  
  
  	Title:	 	 

  
  
   

  
  
   

  
  
  LANDLORD:

  
  
   

  
  
  ARE-MA
      REGION NO. 75, LLC,

      a Delaware limited liability company

  
  
   

  

  
  	By: 	Alexandria Real Estate Equities, L.P., a Delaware limited partnership, managing member	 
	 	 	 	 
	 	By:	ARE-QRS Corp., a Maryland corporation, general partner	 

  
  
    

  

  
  	 	By:	 	 

  
  
  	 	Name:	 	 

  
  
  	 	Title:	 	 

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. E

  
  
   

  
  
  EXHIBIT
        E

  
  
   

  
  
  Rules
          and Regulations

  
  
   

  
  
  1.            
      The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or any Tenant Party, or used by them for
      any purpose other than ingress and egress to and from the Premises.

  
  
   

  
  
  2.            
      Tenant shall not place any objects, including antennas, outdoor furniture, etc., in the parking areas, landscaped areas or other
      areas outside of its Premises, or on the roof of the Project (except as permitted by the terms of this Lease).

  
  
   

  
  
  3.            
      Except for animals assisting the disabled, no animals shall be allowed in the offices, halls, or corridors in the Building without
      Landlord’s express written consent.

  
  
   

  
  
  4.            
      Tenant shall not disturb the occupants of the Project or adjoining buildings by the use of any radio or musical instrument or
      by the making of loud or improper noises.

  
  
   

  
  
  5.            
      If Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will direct the
      electrician as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be
      permitted. Any such installation or connection shall be made at Tenant’s expense.

  
  
   

  
  
  6.            
      Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except as
      specifically approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly
      prohibited. Explosives or other articles deemed extra hazardous shall not be brought into the Project.

  
  
   

  
  
  7.            
      Parking any type of recreational vehicles is specifically prohibited on or about the Project. Except for the overnight parking
      of operative vehicles, no vehicle of any type shall be stored in the parking areas at any time. In the event that a vehicle is
      disabled, it shall be removed within 48 hours. There shall be no “For Sale” or other advertising signs on or about
      any parked vehicle. All vehicles shall be parked in the designated parking areas in conformity with all signs and other markings.
      All parking will be open parking, and no reserved parking, numbering or lettering of individual spaces will be permitted except
      as specified by Landlord.

  
  
   

  
  
  8.            
      Tenant shall maintain the Premises free from rodents, insects and other pests.

  
  
   

  
  
  9.            
      Landlord reserves the right to exclude or expel from the Project any person who, in the judgment of Landlord, is intoxicated or
      under the influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the
      Project.

  
  
   

  
  
  10.         
      Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of good
      order and cleanliness. Landlord shall not be responsible to Tenant for any loss of property on the Premises, however occurring,
      or for any damage done to the effects of Tenant by the janitors or any other employee or person.

  
  
   

  
  
  11.         
      Tenant shall give Landlord prompt notice of any defects in the water, lawn sprinkler, sewage, gas pipes, electrical lights and
      fixtures, heating apparatus, or any other service equipment affecting the Premises.

  
  
   

  
  
  12.         
      Tenant shall not permit storage outside the Premises, including without limitation, outside storage of trucks and other vehicles,
      or dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about
      the Premises.

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. E

  
  
   

  
  
  13.         
      All moveable trash receptacles provided by the trash disposal firm for the Premises must be kept in the trash enclosure areas,
      if any, provided for that purpose.

  
  
   

  
  
  14.         
      No auction, public or private, will be permitted on the Premises or the Project.

  
  
   

  
  
  15.         
      No awnings shall be placed over the windows in the Premises except with the prior written consent of Landlord.

  
  
   

  
  
  16.         
      The Premises shall not be used for lodging, sleeping or cooking or for any immoral or illegal purposes or for any purpose other
      than that specified in the Lease. No gaming devices shall be operated in the Premises.

  
  
   

  
  
  17.         
      Tenant shall ascertain from Landlord the maximum amount of electrical current which can safely be used in the Premises, taking
      into account the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not
      use more than such safe capacity. Landlord’s consent to the installation of electric equipment shall not relieve Tenant
      from the obligation not to use more electricity than such safe capacity.

  
  
   

  
  
  18.         
      Tenant assumes full responsibility for protecting the Premises from theft, robbery and pilferage.

  
  
   

  
  
  19.         
      Tenant shall not install or operate on the Premises any machinery or mechanical devices of a nature not directly related to Tenant’s
      ordinary use of the Premises and shall keep all such machinery free of vibration, noise and air waves which may be transmitted
      beyond the Premises.

  
  
   

  
  
  20.         
      Tenant shall cause any vendors and other service providers hired by Tenant to perform services at the Premises or the Project
      to maintain in effect workers’ compensation insurance as required by Legal Requirements and commercial general liability
      insurance with coverage amounts reasonably acceptable to Landlord.  Tenant shall cause such vendors and service providers
      to name Landlord and Alexandria Real Estate Equities, Inc. as additional insureds under such policies and shall provide Landlord
      with certificates of insurance evidencing the required coverages (and showing Landlord and Alexandria Real Estate Equities, Inc.
      as additional insureds under such policies) prior to the applicable vendor or service provider providing any services to Tenant
      at the Project.

  
  
   

  
  
  21.         
      Neither Tenant nor any of the Tenant Parties shall have the right to photograph, videotape, film, digitally record or by any other
      means record, transmit and/or distribute any images, pictures or videos of all or any portion of the Premises or the Project.

  
  
   

  
  
  22.         
      Tenant shall regularly review the guidelines published by the Centers for Disease Control (CDC) and any state and/or local governmental
      agencies, and will implement the practices and procedures suggested thereby, as well as industry standard best practices, to limit
      or prevent the spread or transmission of Infectious Conditions.

  
  
   

  
  
  23.         
      Landlord shall have the right, but not the obligation, to require Tenant to implement procedures intended to mitigate the spread
      or transmission of Infectious Conditions.

  
  
   

  
  
  24.         
      Without limiting Landlord’s general right to amend, update, and implement new rules and regulations, Tenant acknowledges
      that Landlord has the right, but has no obligation, to implement additional rules and regulations relating to access to the Premises,
      the Building and/or the Project (including, without limitation, the Amenities) that are intended to promote and protect health
      and physical well-being and/or prevent or limit the spread or transmission of Infectious Conditions.

  
  
  
     

    
      

    

  

  321 Arsenal (AOTC) / Disc Medicine –
      Ex. F

  
  
   

  
  
  EXHIBIT
        F

  
  
   

  
  
  REMOVABLE
          INSTALLATIONS

  
  
   

  
  
  None.

  
  
  
     

    
      

    

  

  321
        Arsenal (AOTC) / Disc Medicine – Ex. G

  
  
   

  
  
  EXHIBIT
        G

  
  
   

  
  
  IDENTIFICATION
          OF ACM, PACM & LEAD PAINT

  
  
   

  
  
  NOTIFICATION
          OF THE PRESENCE OF ASBESTOS CONTAINING MATERIALS

  
  
   

  
  
  This
      notification provides certain information about asbestos within or about the Premises at Arsenal on the Charles, Watertown, Massachusetts
      (“Building”).

  
  
   

  
  
  Historically,
      asbestos was commonly used in building products used in the construction of buildings across the country. Asbestos-containing
      building products were used because they are fire-resistant and provide good noise and temperature insulation. Because of their
      prevalence, asbestos-containing materials, or ACMs, are still sometimes found in buildings today.

  
  
   

  
  
  The
      Buildings at the site were constructed prior to 1981 and an asbestos survey of the buildings conducted in 2019 confirmed the presence
      of Asbestos Containing Materials (ACMs). The asbestos survey has determined that ACMs and/or materials that might contain ACMs,
      referred to as presumed asbestos-containing materials or PACMs, are present within or about the Premises as follows:

  
  
   

  
  
  Building
      60

      Building 97

      Building 117

      Building 118

      Building 311

      Building 312

      Building 313

  
  
   

  
  
  Because
      ACMs and PACMs may be present within or about the Building, we have hired an independent environmental consulting firm to prepare
      an operations and maintenance program (“O&M Program”). The O&M Program is designed to minimize the
      potential of any harmful asbestos exposure to any person within or about the Building. The O&M Program includes a description
      of work methods to be taken in order to maintain any ACMs or PACMs within or about the Building in good condition and to prevent
      any significant disturbance of such ACMs or PACMs. Appropriate personnel receive regular periodic training on how to properly
      administer the O&M Program.

  
  
   

  
  
  The
      O&M Program describes the risks associated with asbestos exposure and how to prevent such exposure through appropriate work
      practices. ACMs and PACMs generally are not thought to be a threat to human health unless asbestos fibers are released into the
      air and inhaled. This does not typically occur unless (1) the ACMs are in a deteriorating condition, or (2) the ACMs have been
      significantly disturbed (such as through abrasive cleaning, or maintenance or renovation activities). If inhaled, asbestos fibers
      can accumulate in the lungs and, as exposure increases, the risk of disease (such as asbestosis or cancer) increases. However,
      measures to minimize exposure, and consequently minimize the accumulation of asbestos fibers, reduce the risks of adverse health
      effects.

  
  
   

  
  
  The
      O&M Program describes a number of activities that should be avoided in order to prevent a release of asbestos fibers. In particular,
      you should be aware that some of the activities which may present a health risk include moving, drilling, boring, or otherwise
      disturbing ACMs. Consequently, such activities should not be attempted by any person not qualified to handle ACMs.

  
  
   

  
  
  The
      O&M Program is available for review during regular business hours at Landlord’s office located at 400 Technology Square,
      Suite 101, Cambridge, MA 02139.Exhibit
      10.5

   

  ADDENDUM
        TO LICENSE AGREEMENT 

   

  THIS
      ADDENDUM TO LICENSE AGREEMENT (this “Addendum”) is entered into as of December 7, 2021 (the “Effective
        Date”) by and among Disc Medicine, Inc., a Delaware corporation with an office and place of business at 321 Arsenal
      Street, Suite 101, Watertown, MA 02472 (“Disc” or the “Company”), F. Hoffmann-La Roche
        Ltd, with an office and place of business at Grenzacherstrasse 124, 4070 Basel, Switzerland (“Roche Basel”)
      and Hoffmann-La Roche Inc., with an office and place of business at 150 Clove Road, Suite 8, Little Falls, New Jersey 07424,
      U.S.A. (“Roche US”; Roche Basel and Roche US together referred to as “Roche”). Each
      of Disc, Roche US and Roche Basel are referred to herein as a “Party” and collectively as the “Parties”.

   

  INTRODUCTION

   

  WHEREAS,
      the Parties entered into a License Agreement on May 7, 2021 (the “Agreement”).

   

  WHEREAS,
      the Parties wish to memorialize their mutual understanding of what rights Roche and its Affiliate(s) may have under the Agreement
      in the event that Disc completes an IPO.

   

  NOW,
      THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound,
      do hereby agree as follows:

   

  AGREEMENT

   

  Capitalized
      terms used but not defined herein will have the meanings set forth in the Agreement.

   

  		1.	Notwithstanding anything to the contrary in the Agreement, and in lieu of the provisions and
            procedures set forth in the first two sentences of Section 10.11 thereof, in the event that Disc completes an IPO during the Agreement Term, then the Roche Equityholder will be issued a number of shares of the Company’s capital stock (or the
            common stock of any successor to the Company in the IPO) equal to two and eighty-five one hundreds of a percent (2.85%) of the outstanding shares of common stock of the Company (or such successor) as of immediately after the completion of the
            IPO (including the exercise by the underwriters thereof of any overallotment option), which number of Shares shall constitute the Roche Shares for all purposes under the Agreement. Except as expressly modified by the forgoing sentence, the
            Agreement, including Section 10.11 thereof, remains unmodified and in full force and effect.

   

  		2.	The Parties hereby agree to discuss in good faith a mutually acceptable revised set of terms to
            replace those set forth in Section 1 hereunder in the event that prior to an IPO, Disc discontinues or materially delays development for either of (a) the Compound or (b) DISC-0974.

   

  		3.	Sections 19 and 21 of the Agreement are hereby incorporated by reference as if set forth herein (mutatis
              mutandis), except that references therein to the Agreement shall be deemed to be references to this Addendum.

  
     

    
      

    

  

  		4.	This Addendum shall automatically terminate upon the earliest to occur, if any, of (i) the Company
            notifying Roche that it has determined not to proceed with the Public Offering, (ii) the termination of the Underwriting Agreement before the sale of any Shares to the Underwriters, (iii) the registration statement filed with the SEC with
            respect to the Public Offering contemplated by the Underwriting Agreement is withdrawn or (iv) February 28, 2022, in the event the closing of the Public Offering shall not have occurred on or before such date. For purposes of this Addendum,
            Underwriting Agreement shall mean an Underwriting Agreement that Morgan Stanley & Co. LLC, Jefferies LLC and SVB Leerink LLC (collectively, the “Representatives”) propose to enter into with Disc Medicine, Inc. (the “Underwriting
              Agreement”), providing for the public offering (the “Public Offering”) by the several Underwriters, including the Representatives (the “Underwriters”), of shares of the common stock, par value $0.0001 per share, of the
            Company.

   

  		5.	This Addendum may be executed in counterparts, each of which counterparts, when so executed and
            delivered, will be deemed to be an original, and all of which counterparts, taken together, will constitute one and the same instrument even if both Parties have not executed the same counterpart. Signatures provided by facsimile transmission
            or in AdobeTM Portable Document Format (PDF) sent by electronic mail will be deemed to be original signatures. No provision of this Addendum may be amended or modified other than by a written document signed by authorized representatives of each
            Party hereto specifically referencing this Addendum.

   

  [Remainder
        of Page Intentionally Left Blank]

  
     

    
      

    

  

  IN
      WITNESS WHEREOF, each Party has caused this Addendum to be duly executed by its authorized representative under seal, in duplicate
      on the Effective Date.

   

  

   

  	 	DISC MEDICINE, INC.	 
	 	 	 
	 	/s/ John Quisel	 
	 	Name: John Quisel	 
	 	Title: President & CEO	 
	 	 	 
	 	F. Hoffmann-La Roche Ltd	 
	 	 	 
	 	/s/ Vikas Kabra	 
	 	Name: Vikas Kabra	 
	 	Title: Authorized Signatory	 
	 	 	 
	 	/s/ Barbara Schroeder	 
	 	Name: Barbara Schroeder	 
	 	Title: Authorized Signatory	 
	 	 	 
	 	Hoffmann-La Roche Inc.	 
	 	 	 
	 	/s/ John Parise	 
	 	Name: John Parise	 
	 	Title: Authorized Signatory	 

   

  [Signature
        Page to Addendum to License Agreement]

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