Document:

EX-10.18

 Exhibit 10.18 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES
LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE
OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

WARRANT TO PURCHASE STOCK 
 Company: Tempo
Pharmaceuticals, Inc., a Delaware corporation 
 Number of Shares: 15,000, subject to adjustment 

Class of Stock: Series B Convertible Preferred Stock, $0.01 par value per share 

Warrant Price: $2.00, subject to adjustment 
 Issue Date:
August 8, 2008 Expiration 
 Date: August 8, 2018 

			
	Credit Facility:	 	This Warrant is issued in connection with that certain Loan and Security Agreement of even date herewith between Silicon Valley Bank and the Company.

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (Silicon Valley Bank,
together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, is referred to hereinafter as “Holder”) is entitled to purchase the number of fully paid and non-assessable
shares (the “Shares”) of the above-stated class of stock (the “Class”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Article 2 of this
Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 
 ARTICLE 1. EXERCISE. 

1.1 Method of Exercise. Holder may exercise this Warrant by delivering the original of this Warrant together with a duly executed
Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Article 1.2, Holder shall also deliver to the Company a check, wire transfer
(to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder may from time to time convert this
Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares
by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 

 1.3 Fair Market Value. If the Company’s common stock is traded in a public market and
the Shares are common stock, the fair market value of a Share shall be the closing price of a share of common stock reported for the business day immediately before Holder delivers this Warrant together with its Notice of Exercise to the Company (or
in the instance where the Warrant is exercised immediately prior to the effectiveness of the Company’s initial public offering (“IPO”), the “price to public” per share price specified in the final prospectus relating to such
offering). If the Company’s common stock is traded in a public market and the Shares are preferred stock, the fair market value of a Share shall be the closing price of a share of the Company’s common stock reported for the business day
immediately before Holder delivers this Warrant together with its Notice of Exercise to the Company (or, in the instance where the Warrant is exercised immediately prior to the effectiveness of the IPO, the initial “price to public” per
share price specified in the final prospectus relating to such offering), in both cases, multiplied by the number of shares of the Company’s common stock into which a Share is convertible. If the Company’s common stock is not traded in a
public market, the Board of Directors of the Company shall determine fair market value in its reasonable good faith judgment. 
 1.4
Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts this Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares
acquired and, if this Warrant has not been fully exercised or converted and has not expired, a new Warrant representing the Shares not so acquired. 

1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant,
the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 
 1.6 Treatment of Warrant Upon Acquisition
of Company. 
 1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license,
or other disposition of all or substantially all of the assets of the Company, or any reorganization, consolidation, merger or sale of outstanding capital stock of the Company where the holders of the Company’s securities before the transaction
beneficially own less than a majority of the outstanding voting securities of the surviving entity after the transaction. 
 1.6.2
Treatment of Warrant at Acquisition. 
 A) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition in which the
sole consideration is cash and/or Marketable Securities, either (a) Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition
or (b) if Holder elects not to exercise the Warrant, this Warrant will expire upon the consummation of such Acquisition. The Company shall provide the Holder with written notice of its request relating to the foregoing (together with such
reasonable information as the Holder may request in connection with such contemplated Acquisition 

  
 2 

 
giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

B) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is an “arm’s length” sale of all or
substantially all of the Company’s assets (and only its assets) to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), either (a) Holder shall exercise its conversion or purchase right
under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant will continue until the Expiration Date if the Company
continues as a going concern following the closing of any such True Asset Sale. The Company shall provide the Holder with written notice of its request relating to the foregoing (together with such reasonable information as the Holder may request in
connection with such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

C) Upon the closing of any Acquisition other than those particularly described in subsections (A) and (B) above, the successor entity shall assume
the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were
outstanding on the record date for the Acquisition and subsequent closing; provided, that the successor entity shall not be required to assume the Company’s obligations set forth in Section 3.3 below except to the extent that such
successor entity, in connection with such Acquisition, grants substantially similar or substantially equivalent registration rights to the holders of the outstanding shares of the Class. The Warrant Price and/or number of Shares shall be adjusted
accordingly. 
 D) As used in this Section 1.6, (a) Marketable Securities” means securities meeting all of the following requirements:
(i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current in its filing of all
required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to exercise or
convert this Warrant on or prior to the closing thereof is then traded on a national securities exchange or over-the-counter market, and (iii) Holder would not be not be restricted by contract or by applicable federal and state securities laws
from publicly re-selling, within six (6) months following the closing of such Acquisition, all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert this
Warrant in full on or prior to the closing of such Acquisition; and (b) “Affiliate” shall mean any person or entity that owns or controls directly or indirectly ten percent (10%) or more of the stock of Company, any person
or entity that controls or is controlled by or is under common control with such persons or entities, and each of such person’s or entity’s officers, directors, joint venturers or partners, as applicable. 

ARTICLE 2. ADJUSTMENTS TO THE SHARES. 

  
 3 

 2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the
outstanding shares of the Class payable in common stock or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would
have been entitled had Holder owned the Shares of record as of the date the dividend occurred. If the Company subdivides the outstanding shares of the Class by reclassification or otherwise into a greater number of shares, the number of Shares
purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Class are combined or consolidated, by reclassification or otherwise, into a lesser number of shares,
the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 
 2.2
Reclassification, Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this
Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such
reclassification, exchange, substitution, or other event. Such an event shall include, without limitation, any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock
pursuant to the terms of the Company’s Certificate of Incorporation. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new securities or other property issuable
upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon exercise or conversion of this Warrant. The
amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of
securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 

2.3 Adjustment for Diluting Issuances. The number of shares of common stock issuable upon conversion of the Shares shall be subject to
adjustment, from time to time in the manner set forth in the Company’s Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. The provisions set forth for the Class in
the Company’s Certificate of Incorporation relating to the above in effect as of the Issue Date may not be amended, modified or waived, without the prior written consent of Holder unless such amendment, modification or waiver affects the rights
associated with the Shares in the same manner as such amendment, modification or waiver affects the rights associated with all other shares of the Class. 

2.4 No Impairment. The Company shall not, by amendment of its Certificate of Incorporation or through a reorganization, transfer of
assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall
at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may 

  
 4 

 
be necessary or appropriate to protect Holder’s rights under this Article against impairment. 

2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of the Warrant and the number of Shares to be
issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by
multiplying the fractional interest by the fair market value of a full Share. 
 2.6 Certificate as to Adjustments. Upon each
adjustment of the Warrant Price, Class and/or number of Shares, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial
Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price, Class and number of Shares in effect upon the date
thereof and the series of adjustments leading to such Warrant Price, Class and number of Shares. 
 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE
COMPANY. 
 3.1 Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as follows:

 (a) The initial Warrant Price referenced on the first page of this Warrant is not greater than the price per share at which shares of
the same class and series as the Shares were last issued in an arms-length transaction in which at least $500,000 of such shares were sold. 

(b) All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable
upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable when paid for in accordance with the terms hereof or the terms of securities issuable upon conversion of the Shares, and free of
any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

(c) The Company’s capitalization table attached hereto as Schedule 1 is true and complete as of the Issue Date. 

3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon the outstanding
shares of the Class, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription or sale pro rata to the holders of the outstanding shares of the Class any additional shares of
any class or series of the Company’s stock (other than pursuant to contractual pre-emptive rights); (c) to effect any reclassification, reorganization or recapitalization of the shares of the Class; (d) to effect an Acquisition or to
liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the Company’s securities for cash, then, in connection with each such event, the Company shall
give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such 

  
 5 

 
dividend, distribution, or subscription rights (and specifying the date on which the holders of shares of the same class and series as the Shares will be entitled thereto) or for determining
rights to vote, if any, in respect of the matters referred to in (c) and (d) above; (2) in the case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when the same will take
place (and specifying the date on which the holders of shares of the same class and series as the Shares will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event); and (3) in
the case of the matter referred to in (e) above, the same notice as is given to the holders of such registration rights. 
 3.3
Registration Under Securities Act of 1933, as amended. The Company agrees that the Shares or, if the Shares are convertible into common stock of the Company, such common stock, shall have certain incidental, or “Piggyback,” and S-3
registration rights pursuant to and as set forth in that certain Series B Convertible Preferred Stock Purchase Agreement dated as of December 7, 2007 among the Company and the other parties named therein, as amended and in effect from time to
time (the “Purchase Agreement”). Holder has, on and as of the date hereof, become a party to certain sections of the Purchase Agreement for purposes of effecting the foregoing grant of registration rights. 

3.4 No Shareholder Rights. Except as provided in this Warrant, Holder will not have any rights as a shareholder of the Company until
the exercise of this Warrant. 
 3.5 Certain Information. The Company agrees to provide Holder at any time and from time to time with
such information as Holder may reasonably request for purposes of Holder’s compliance with regulatory, accounting and reporting requirements applicable to Holder. 

ARTICLE 4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE HOLDER. The Holder represents and warrants to, and agrees with, the Company as follows:

 4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will be
acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of
acquiring this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder has received or has had full access to all the
information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from
the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort
or expense) necessary to verify any information furnished to Holder or to which Holder has access. 
 4.3 Investment Experience.
Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and

  
 6 

 
acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business
matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or
controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under the
Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares issuable upon exercise or conversion hereof have not been
registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder understands that this Warrant and the
Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are
otherwise available. 
 4.6 Lock-Up Agreement. The Holder hereby agrees that, during the period of duration (not to exceed one
hundred eighty (180) days) specified by the Company and an underwriter of Common Stock or other securities of the Company (the “Lock-Up Period”), following the effective date of a registration statement of the Company filed under the
Act relating to the IPO of the Company, the Holder shall not, to the extent requested by the Company and such underwriter, directly or indirectly sell, offer to sell, contract to sell (including any short sale), grant any option to purchase, or
otherwise transfer or dispose of (other than to donees who agree to be similarly bound) any securities of the Company held by it at any time during the Lock-Up Period except Common Stock included in such registration; provided, however, that all
officers and directors of the Company, Founder Holders and stockholders holding in excess of one percent (1%) of the outstanding Common Stock of the Company (treating all Preferred Stock on an as-converted to Common Stock basis) enter into
similar agreements. 
 ARTICLE 5. MISCELLANEOUS. 

5.1 Term: This Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 

5.2 Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any)
shall be imprinted with a legend in substantially the following form: 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN
REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 OF THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE COMPANY TO SILICON VALLEY BANK DATED AS OF
                    , MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED 

  
 7 

 
UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH
OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 5.3 Compliance with Securities Laws on Transfer.
This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable
federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the
Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to SVB Financial Group (Silicon Valley Bank’s parent company) or any other affiliate of Holder, provided that any such transferee is an
“accredited investor” as defined in Regulation D promulgated under the Act and agrees in writing to be bound by the terms and conditions of this Warrant. 

5.4 Transfer Procedure. After receipt by Silicon Valley Bank (“Bank”) of the executed Warrant, Bank will transfer all of this
Warrant to SVB Financial Group, Holder’s parent company. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent Holder may transfer all or part of this Warrant or the
Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, SVB Financial Group or any
subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the
transferee(s) (and Holder if applicable). The Company may refuse to transfer this Warrant or the Shares to any person who directly competes with the Company, unless, in either case, the stock of the Company is publicly traded. 

5.5 Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and
effective when given personally or mailed by first-class registered or certified mail, postage prepaid (or on the first business day after transmission by facsimile), at such address as may have been furnished to the Company or Holder, as the case
may be, in writing by the Company or such holder from time to time. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise: 

SVB Financial Group 
 Attn:
Treasury Department 
 3003 Tasman Drive, HA 200 

Santa Clara, CA 95054 

Telephone: 408-654-7400 

Facsimile: 408-496-2405 
 Notice
to the Company shall be addressed as follows until Holder receives notice of a change in address: 

  
 8 

 Tempo Pharmaceuticals, Inc. 

Attn: President 
 161 First
Street, Suite 2A 
 Cambridge, MA 

Telephone: 617-551-9600 

Facsimile: 617-494-1544 
 5.6
Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver. discharge or termination is sought. 

5.7 Attorney’s Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the
party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or other
security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted
pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted, and the Company shall promptly deliver a certificate representing the Shares (or such other
securities) issued upon such conversion to Holder. 
 5.9 Counterparts. This Warrant may be executed in counterparts, all of which
together shall constitute one and the same agreement. 
 [Remainder of page left blank intentionally] 

  
 9 

 5.10 Governing Law. This Warrant shall be governed by and construed in accordance with the
laws of the State of Delaware, without giving effect to its principles regarding conflicts of law. 
 “COMPANY” 

 

			
	TEMPO PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Alan L. Crane

		
	Name:	 	 Alan L. Crane

		 	(Print)
		
	Title:	 	Chief Executive Officer

 “HOLDER” 
  

			
	SILICON VALLEY BANK
		
	By:	 	  

		
	Name:	 	  

		 	(Print)
		
	Title:	 	

  
 10 

 5.10 Governing Law. This Warrant shall be governed by and construed in accordance with the
laws of the State of Delaware, without giving effect to its principles regarding conflicts of law. 
 “COMPANY” 

 

			
	TEMPO PHARMACEUTICALS, INC.
		
	By:	 	  

		
	Name:	 	  

		 	(Print)
		
	Title:	 	

 “HOLDER” 
  

			
	SILICON VALLEY BANK
		
	By:	 	 /s/ Adam J. Millsom

		
	Name:	 	 Adam J. Millsom

		 	(Print)
		
	Title:	 	Relationship Manager

  
 11 

 APPENDIX 1 

NOTICE OF EXERCISE 
 1.
Holder elects to purchase                  shares of the Common/Series
                     Preferred [strike one] Stock of
                     pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 

[or] 
 1. Holder elects to
convert the attached Warrant into Shares/cash [strike one] in the manner specified in the Warrant. This conversion is exercised for
                     of the Shares covered by the Warrant. 

[Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing the Shares in the name specified below: 

 

					
		 	  
	 	
		 	Holders Name	 	
			
		 	  
	 	
			
		 	  
	 	
		 	(Address)	 	

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as of the date hereof. 
  

			
	HOLDER:
	
	  

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	(Date):	 	  

  
 12EX-10.19

 Exhibit 10.19 

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THIS WARRANT MAY NOT BE SOLD, PLEDGED
OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL ACCEPTABLE TO CERULEAN PHARMA INC. THAT SUCH REGISTRATION IS NOT REQUIRED. 

Warrant No.              

Date of Issuance: May             , 2010 

Original Issue Date (as defined in Section 3(b)): May             , 2010 

CERULEAN PHARMA INC. 

Stock Purchase Warrant 

Cerulean Pharma Inc., a Delaware corporation (the “Company”), for value received, hereby certifies that
                    , or its registered assigns (hereinafter together referred to as the “Registered Holder”), is entitled, subject to the
terms and conditions set forth below, to purchase from the Company, at any time or from time on or after the initial closing of a Qualified Financing and prior to 5:00 p.m., Boston time, on the Expiration Date, up to such number of Warrant Shares of
the Company as is equal to the Share Number, at a purchase price per share equal to the Purchase Price. 
 1. Certain Definitions. As
used in this Warrant, the following terms shall have the following respective meanings: 
 (a) “Bridge Notes” means the Note plus
the other Convertible Promissory Notes, all of substantially identical tenor except as to the principal amount, issued by the Company on or about the Original Issue Date. 

(b) “Expiration Date” means the seventh anniversary of the initial closing of the Qualified Financing. 

(c) “Loan Amount” means the principal amount of cash loaned to the Company by the initial Registered Holder, as evidenced by the
Note. 
 (d) “Note” means the Convertible Promissory Note dated on or about the original date of this Warrant and issued by the
Company to the initial Registered Holder. 
 (e) “Purchase Price” means, subject to adjustment as provided herein, the price per
share paid for the Qualified Financing Securities by the investors in the Qualified Financing. 
 (f) “Qualified Financing” means
the first issuance of convertible preferred stock by the Company to investors after the Original Issue Date, with immediately available 

 
gross proceeds to the Company (including proceeds from the Bridge Notes and any other indebtedness of the Company that convert into equity in such financing) of at least $10,000,000. 

(g) “Qualified Financing Securities” means the shares of capital stock issued by the Company in the Qualified Financing. 

(h) “Required Lenders” means the holders of at least 60% of the aggregate amount of outstanding principal under the Bridge Notes.

 (i) “Share Number” means, subject to adjustment as provided herein, the number obtained by dividing ten percent (10%) of
the Loan Amount by the Purchase Price. 
 (j) “Warrant Shares” means, subject to adjustment as provided herein, the shares of
Warrant Stock issued or issuable upon exercise of this Warrant. 
 (k) “Warrant Stock” means the Qualified Financing Securities
issued by the Company in the Qualified Financing. If the Qualified Financing Securities are converted into common stock pursuant to the Company’s Certificate of Incorporation, then, effective upon such conversion, “Warrant Stock”
shall mean common stock, and the Registered Holder shall thereupon have the right to purchase the number of shares of common stock which would have been receivable by the Registered Holder upon the exercise of this Warrant for shares of Warrant
Stock immediately prior to such conversion of such shares of Warrant Stock into shares of common stock, and in such event appropriate adjustment shall be made to the per share purchase price for the common stock and appropriate provisions shall be
made with respect to the rights and interests of the Registered Holder to the end that the provisions hereof shall thereafter be applicable to any shares of common stock deliverable upon the exercise hereof. 

2. Exercise. This Warrant shall become exercisable concurrently with the conversion of the Note into Qualified Financing Securities in
the Qualified Financing, and may be exercised thereafter (but prior to the Expiration Date) as follows: 
 (a) Exercise for Cash. The
Registered Holder may, at its option, elect to exercise this Warrant, in whole or in part and at any time or from time to time, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I duly executed by or on behalf of
the Registered Holder, at the principal office of the Company, or at such other office or agency as the Company may designate, accompanied by payment in full, in lawful money of the United States, of the Purchase Price payable in respect of the
number of Warrant Shares purchased upon such exercise. 
 (b) Cashless Exercise. 

(i) The Registered Holder may, at its option, elect to exercise this Warrant, in whole or in part and at any time or from time to time, on a
cashless basis, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I duly executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such other office or agency as the Company
may designate, by canceling a portion of this Warrant in payment of the Purchase Price payable in respect of the number of Warrant Shares purchased upon such exercise. In the event of an exercise pursuant to this Section 2(b), the number of

  
 - 2 - 

 
Warrant Shares issued to the Registered Holder shall be determined according to the following formula: 

            X = Y(A-B) 

                        A 

 

			
	            Where: X =    	  	the number of Warrant Shares that shall be issued to the Registered Holder;
		
	Y =    	  	the number of Warrant Shares for which this Warrant is being exercised (which shall include both the number of Warrant Shares issued to the Registered Holder and the number of Warrant Shares subject to the portion of this Warrant
being cancelled in payment of the Purchase Price);
		
	A =    	  	the Fair Market Value (as defined below) of one share of Warrant Stock; and
		
	B =    	  	the Purchase Price then in effect.

 (ii) The Fair Market Value per share of Warrant Stock shall be determined as follows: 

(1) If the Warrant Stock is listed on a national securities exchange or another nationally recognized trading system, the Fair Market Value
per share of Warrant Stock shall be deemed to be (i) the average of the closing sales prices of the Warrant Stock on the national securities exchange or other nationally recognized trading system where such security is listed or traded as
reported by Bloomberg Financial Markets (or a comparable reporting service of national reputation selected by the Company and reasonably acceptable to the Required Lenders if Bloomberg Financial Markets is not then reporting sales prices of such
security) (collectively, “Bloomberg”) for the 10 consecutive trading days immediately preceding the Exercise Date (as defined below), or if there is no sales price for such period, the last sales price reported by Bloomberg for such
period, or (ii) if the foregoing does not apply, the last sales price of such security in the over-the-counter market on the pink sheets or bulletin board for such security as reported by Bloomberg, or if no sales price is so reported for such
security, the last bid price of such security as reported by Bloomberg, in each case during the 10 consecutive trading days immediately preceding the Exercise Date. 

(2) If the Warrant Stock is not listed on a national securities exchange or another nationally recognized trading system, the Fair Market
Value per share of Warrant Stock shall be deemed to be the amount most recently determined by the Board of Directors of the Company (the “Board”) in the exercise of its good faith judgment to represent the fair market value per share of
the Warrant Stock. Notwithstanding the foregoing, if the Board has not made such a determination within the three-month period prior to the Exercise Date, then (A) the Board shall make, and shall provide
or cause to be provided to the Registered Holder notice of, a determination of the Fair Market Value per share of the Warrant Stock within 15 days of a request by the Registered Holder that it do so, and (B) the exercise of this Warrant
pursuant to this Section 2(b) shall be delayed until such determination is made and notice thereof 

  
 - 3 - 

 
is provided to the Registered Holder. 
 (c) Exercise Date. Each exercise of
this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant shall have been surrendered to the Company as provided in Section 2(a) or 2(b) above (the “Exercise Date”).
At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 2(d) below shall be deemed to have become the holder or holders of record of the Warrant
Shares represented by such certificates. 
 (d) Issuance of Certificates. As soon as practicable after the exercise of this Warrant in
whole or in part, the Company, at its expense, will cause to be issued in the name of, and delivered to, the Registered Holder, or as the Registered Holder (upon payment by the Registered Holder of any applicable transfer taxes) may direct: 

(i) a certificate or certificates for the number of full Warrant Shares to which the Registered Holder shall be entitled upon such exercise
plus, in lieu of any fractional share to which the Registered Holder would otherwise be entitled, cash in an amount determined pursuant to Section 2 hereof; and 

(ii) in case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on the
face or faces thereof for the number of Warrant Shares equal (without giving effect to any adjustment therein) to the number of such shares called for on the face of this Warrant minus the number of Warrant Shares for which this Warrant was so
exercised (which, in the case of an exercise pursuant to Section 2(b), shall include both the number of Warrant Shares issued to the Registered Holder pursuant to such partial exercise and the number of Warrant Shares subject to the portion of
this Warrant being cancelled in payment of the Purchase Price). 
 3. Adjustments. 

(a) Merger. If at any time there shall be a reorganization of the shares of the Company’s capital stock (other than a combination,
reclassification, recapitalization, exchange or subdivision of shares otherwise provided for herein), or a merger or consolidation of the Company with or into another person, whether or not the Company is the surviving entity (hereinafter referred
to as a “Merger Event”), then, as a part of such Merger Event, lawful provision shall be made so that the Registered Holder shall thereafter be entitled to receive, upon exercise of this Warrant, and in lieu of the Warrant Stock otherwise
issuable upon exercise or conversion of this Warrant, the securities or other property to which the Registered Holder would actually have been entitled to receive in such Merger Event as a holder of Warrant Stock if the Registered Holder had
exercised its rights under this Warrant immediately prior to the Merger Event. 
 (b) Adjustment for Stock Splits and Combinations. If
the Company shall at any time or from time to time after the date on which this Warrant was first issued (or, if this Warrant was issued upon partial exercise of, or in replacement of, another warrant of like tenor, then the date on which such
original warrant was first issued) (either such date being referred to 

  
 - 4 - 

 
as the “Original Issue Date”) effect a subdivision of the Warrant Stock, the Purchase Price then in effect immediately before that subdivision shall be proportionately decreased. If the
Company shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Warrant Stock, the Purchase Price then in effect immediately before the combination shall be proportionately increased. Any adjustment
under this paragraph shall become effective at the close of business on the date the subdivision or combination becomes effective. 
 (c)
Adjustment for Certain Dividends and Distributions. In the event the Company at any time, or from time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of shares of Warrant Stock
entitled to receive, a dividend or other distribution payable in additional shares of Warrant Stock, then and in each such event the Purchase Price then in effect immediately before such event shall be decreased as of the time of such issuance or,
in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Purchase Price then in effect by a fraction: 

(1) the numerator of which shall be the total number of shares of Warrant Stock issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date, and 
 (2) the denominator of which shall be the total number of shares of Warrant
Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Warrant Stock issuable in payment of such dividend or distribution; 

provided, however, that if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made
on the date fixed therefor, the Purchase Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such
dividends or distributions. 
 (d) Adjustments for Other Dividends and Distributions. In the event the Company at any time or from
time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of shares of Warrant Stock entitled to receive, a dividend or other distribution payable in securities of the Company (other than
Warrant Stock) or in cash or other property (other than regular cash dividends paid out of earnings or earned surplus, determined in accordance with generally accepted accounting principles), then and in each such event provision shall be made so
that the Registered Holder shall receive upon exercise hereof, in addition to the number of Warrant Shares issuable hereunder, the kind and amount of securities of the Company, cash or other property which the Registered Holder would have been
entitled to receive had this Warrant been exercised on the date of such event and had the Registered Holder thereafter, during the period from the date of such event to and including the Exercise Date, retained any such securities receivable during
such period, giving application to all adjustments called for during such period under this Section 3 with respect to the rights of the Registered Holder. 

  
 - 5 - 

 (e) Adjustment in Number of Warrant Shares. When any adjustment is required to be made in
the Purchase Price pursuant to Section 3(a), (b) or (c), the number of Warrant Shares purchasable upon the exercise of this Warrant shall be changed to the number determined by dividing (i) an amount equal to the number of shares
issuable upon the exercise of this Warrant immediately prior to such adjustment, multiplied by the Purchase Price in effect immediately prior to such adjustment, by (ii) the Purchase Price in effect immediately after such adjustment. 

(f) Certificate as to Adjustments. Upon the occurrence of each adjustment of the Purchase Price pursuant to this Section 3, the
Company at its expense shall, as promptly as reasonably practicable but in any event not later than 15 days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Registered Holder a certificate
setting forth such adjustment and showing in detail the facts upon which such adjustment or readjustment is based. 
 4. Fractional
Shares. The Company shall not be required upon the exercise of this Warrant to issue any fractional shares, but shall pay in lieu thereof an amount in cash equal to the Fair Market Value of such fractional shares, as determined pursuant to
Section 2 hereof. 
 5. Investment Representations. The Registered Holder represents and warrants to the Company as follows:

 (a) The Registered Holder is purchasing and acquiring this Warrant, the Warrant Shares (upon exercise of this Warrant) and the shares of
common stock issuable upon conversion of the Warrant Shares, if applicable (collectively, the “Securities”), for his or its own account for investment only, and not with a view to, or for sale in connection with, any distribution thereof
in violation of the Securities Act of 1933 (the “Securities Act”), or any rule or regulation under the Securities Act. 
 (b) The
Registered Holder has had such opportunity as he or it has deemed adequate to obtain from representatives of the Company such information as is necessary to permit him or it to evaluate the merits and risks of an investment in the Company. 

(c) The Registered Holder has sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in
the purchase of the Securities and to make an informed investment decision with respect to such purchase. 
 (d) The Registered Holder can
afford a complete loss of the value of the Securities and is able to bear the economic risk of holding the Securities for an indefinite period of time. The Registered Holder is an “accredited investor” as defined in Rule 501(a) under the
Securities Act. 
 (e) The Registered Holder understands that (i) the Securities have not been registered under the Securities Act and
are “restricted securities” within the meaning of Rule 144 under the Securities Act; (ii) the Securities cannot be sold, transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an
exemption from registration is then available; (iii) in any event, the exemption from registration under Rule 144 or otherwise may not be available for at least one year and even then will not be available unless

  
 - 6 - 

 
a public market then exists for the Securities, adequate information concerning the Company is then available to the public, and other terms and conditions of Rule 144 are complied with; and
(iv) there is now no registration statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no obligation or current intention to register any of the Securities under the
Securities Act. 
 (f) A legend substantially in the following form will be placed on the certificates representing the Warrant Shares and
the shares of common stock issuable upon conversion of the Warrant Shares, if applicable: 
 “The shares represented by this
certificate have not been registered under the Securities Act of 1933, as amended, and may not be sold, transferred or otherwise disposed of in the absence of an effective registration statement under such Act or an opinion of counsel satisfactory
to the corporation to the effect that such registration is not required.” 
 6. Transfers. This Warrant and the Warrant Shares
shall not be sold or transferred unless either (i) they first shall have been registered under the Securities Act, or (ii) the Company first shall have been furnished with an opinion of legal counsel, reasonably satisfactory to the
Company, to the effect that such sale or transfer is exempt from the registration requirements of the Securities Act. Notwithstanding the foregoing, no registration or opinion of counsel shall be required for (i) a transfer by a Registered
Holder which is an entity to a wholly owned subsidiary of such entity or an affiliate of such entity, a transfer by a Registered Holder which is a partnership to a partner of such partnership or a retired partner of such partnership or to the estate
of any such partner or retired partner, or a transfer by a Registered Holder which is a limited liability company to a member of such limited liability company or a retired member or to the estate of any such member or retired member,
provided that the transferee in each case agrees in writing to be subject to the terms of this Section 6, or (ii) a transfer made in accordance with Rule 144 under the Securities Act. Subject to the provisions of this
Section 6, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant with a properly executed assignment (in the form of Exhibit II hereto) at the principal office of the Company. 

7. Notices of Record Date, etc. In the event: 

(a) the Company shall take a record of the holders of Warrant Stock for the purpose of entitling or enabling them to receive any dividend or
other distribution, or to receive any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right; or 

(b) of any capital reorganization of the Company, any reclassification of the Warrant Stock, any consolidation or merger of the Company with or
into another corporation (other than a consolidation or merger in which the Company is the surviving entity and the Warrant Shares are not converted into or exchanged for any other securities or property), or any transfer of all or substantially all
of the assets of the Company; or 
 (c) of the voluntary or involuntary dissolution, liquidation or winding-up of the Company, 

  
 - 7 - 

 then, and in each such case, the Company will send or cause to be sent to the Registered Holder a notice
specifying, as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution or right, or (ii) the effective date on which such reorganization, reclassification,
consolidation, merger, transfer, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record of Warrant Stock shall be entitled to exchange their shares of Warrant Stock for
securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up. Such notice shall be sent at least 10 days prior to the record date or effective date for
the event specified in such notice. 
 8. Reservation of Stock. The Company will at all times after a Qualified Financing reserve and
keep available, solely for issuance and delivery upon the exercise of this Warrant, such number of Warrant Shares and other securities, cash and/or property, as from time to time shall be issuable upon the exercise of this Warrant. 

9. Exchange or Replacement of Warrants. 

(a) Upon the surrender by the Registered Holder, properly endorsed, to the Company at the principal office of the Company, the Company will,
subject to the provisions of Section 6 hereof, issue and deliver to or upon the order of the Registered Holder, at the Company’s expense, a new Warrant or Warrants of like tenor, in the name of the Registered Holder or as the Registered
Holder (upon payment by the Registered Holder of any applicable transfer taxes) may direct, calling in the aggregate on the face or faces thereof for the number of shares of Warrant Stock (or other securities, cash and/or property) then issuable
upon exercise of this Warrant. 
 (b) Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon
surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor. 
 10. “Market
Stand-Off” Agreement in Connection with Public Offering. The Registered Holder hereby agrees to be bound by the provisions of Section 8.12 of that certain Series B-1 Convertible Preferred Stock Purchase Agreement dated July 13,
2009 by and among the Company and the persons and entities listed on Schedules 1 and 2 thereto, as it may be amended hereafter. 
 11.
Notices. All notices and other communications from the Company to the Registered Holder in connection herewith shall be mailed by certified or registered mail, postage prepaid, or sent via a reputable nationwide overnight courier service
guaranteeing next business day delivery, to the address last furnished to the Company in writing by the Registered Holder. All notices and other communications from the Registered Holder to the Company in connection herewith shall be mailed by
certified or registered mail, postage prepaid, or sent via a reputable nationwide overnight courier service guaranteeing next business day delivery, to the Company at its principal office. All such notices and communications shall be deemed
delivered (i) two business days after being sent by certified or registered mail, return receipt requested, postage 

  
 - 8 - 

 
prepaid, or (ii) one business day after being sent via a reputable nationwide overnight courier service guaranteeing next business day delivery. 

12. No Rights as Stockholder. Until the exercise of this Warrant, the Registered Holder shall not have or exercise any rights by virtue
hereof as a stockholder of the Company. 
 13. Amendment or Waiver. Any term of this Warrant may be amended or waived only by an
instrument in writing signed by the Required Lenders and the Company, which expressly refers to the Warrants and modifies or amends all Warrants in the same manner. No waivers of any term, condition or provision of this Warrant, in any one or more
instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision. 
 14.
Section Headings. The section headings in this Warrant are for the convenience of the parties and in no way alter, modify, amend, limit or restrict the contractual obligations of the parties. 

15. Governing Law. This Warrant will be governed by and construed in accordance with the internal laws of the State of Delaware
(without reference to the conflicts of law provisions thereof). 
 16. Facsimile Signatures. This Warrant may be executed by
facsimile signature. 
 [Signature page follows.] 

  
 - 9 - 

 EXECUTED and effective as of May
            , 2010. 
  

			
	CERULEAN PHARMA INC.
		
	By:	 	 
		
	 Title:
	 	 
	
	 [HOLDER]

		
	By:	 	 
		
	 Title:
	 	 

  
 - 10 - 

 EXHIBIT I 

PURCHASE FORM 
  

			
	To:                        	  	Dated:                        

 The undersigned, pursuant to the provisions set forth in the attached Warrant
(No.             ), hereby elects to purchase (check applicable box): 

 ̈               
       Warrant Shares of Cerulean Pharma Inc. covered by such Warrant; or 
  ̈          the maximum number of Warrant Shares covered by such Warrant pursuant to the cashless exercise procedure set forth in subsection 2(b). 

The undersigned herewith makes payment of the full purchase price for such shares at the price per share provided for in such Warrant. Such
payment takes the form of (check applicable box or boxes): 
  

	 	 ̈	$             in lawful money of the United States; and/or 

  

	 	 ̈	the cancellation of such portion of the attached Warrant as is exercisable for a total of             Warrant Shares (using a Fair Market Value of
$            per share for purposes of this calculation) ; and/or 

  

	 	 ̈	the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(b), to exercise this Warrant with respect to the maximum number of Warrant Shares
purchasable pursuant to the cashless exercise procedure set forth in subsection 2(b). 

  

			
		
	Signature:	 	 
		
	 Address:
	 	 
		
		 	 

 EXHIBIT II 

ASSIGNMENT FORM 
 FOR
VALUE RECEIVED,                     hereby sells, assigns and transfers all of the rights of the undersigned under the attached Warrant
(No.             ) with respect to the number of Warrant Shares of Cerulean Pharma Inc. covered thereby set forth below, unto: 

 

					
	 Name of Assignee
	  	Address	  	No. of Shares

 Dated:
                                         
                               
                                Signature:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]