Document:

EX-4.5

 Exhibit 4.5 

AMENDED AND RESTATED ROYALTY AGREEMENT 

THIS AMENDED AND RESTATED ROYALTY AGREEMENT (this “Agreement”) is made and entered into as of this 14th day of October, 2014 by and among Histogenics Corporation, a Delaware corporation with a place of business at 830 Winter St., Waltham, MA 02451 (the “Corporation”), and each of the parties
specified in Schedule A attached hereto (the “Net Sales Payment Recipients”). 
 Background 

In connection with the purchase by certain investors of the Corporation’s Series A Preferred Stock of the Corporation pursuant to the
Series A Preferred Stock Purchase Agreement, dated July 20, 2012, the Corporation agreed to pay to the holders of the Corporation’s Series A Preferred Stock royalties equal to two percent (2%) of Net Sales (as defined below) based on
the Corporation’s sales of its products. The terms and conditions of such payment obligation were formalized in the Corporation’s Fourth Amended and Restated Certification of Incorporation (the “Former Certificate of
Incorporation”). 
 In connection with the purchase by certain of the Net Sales Payment Recipients of Series A-1 Preferred Stock
pursuant to the Amended and Restated Series A and A-1 Preferred Stock Purchase Agreement, dated December 18, 2013 (as amended, the “Purchase Agreement”), pursuant to that certain Royalty Agreement, dated December 18, 2013 (the
“Prior Agreement”), the Corporation agreed to increase the royalty rate used to calculate the Net Sales Payment (as defined below) from percent (2%) to three percent (3%) and defined a Net Sales Payment Pro Rata Percentage
payable specifically to the Net Sales Payment Recipients on Schedule A. In addition, at the election of the holders of at least a majority of the royalty rights based on the percentages set forth on Schedule A hereto (the
“Majority Purchasers”), all or a portion of such revenue share will be redeemed by the Corporation. The Majority Purchasers can elect to have each Net Sales percentage point redeemed for $10.0 million payable in cash or common stock of the
Corporation at their election. The parties intended the Prior Agreement (instead of the Former Certification of Incorporation) to set forth each of their rights and obligations with respect to the foregoing. 

In connection with the Corporation’s anticipated initial public offering, the Majority Purchasers wish to amend and restate the Prior
Agreement in order to provide that the redemption provision set forth in Section 2 of the Prior Agreement shall terminate upon the closing of the Corporation’s initial public offering. 

 Agreement 

NOW, THEREFORE, the Corporation and the Net Sales Payment Recipients agree to amend and restate the Prior Agreement in its entirety as
follows: 
 1. Net Sales Payment. 

(a) Net Sales Payment. Within forty-five (45) days of the end of each calendar year, the Corporation shall pay to each Net
Sales Payment Recipient a payment equal to, in the aggregate, three percent (3%) of Net Sales (as defined below) during such calendar year (the “Net Sales Payment”). The Net Sales Payment shall be distributed among the Net Sales
Payment Recipients, pro rata based on the percentages set forth on Schedule A hereto; provided, however, that if a Net Sales Payment Recipient does not participate in the Third Closing (as defined in the Purchase Agreement), if
any, or there are any additional purchasers of the Corporation’s Series A-1 Preferred Stock after the date hereof, the percentages on Schedule A hereto shall be adjusted accordingly to reflect such Third Closing, if any, or the
additional purchase of Series A-1 Preferred Stock; provided further that, notwithstanding the immediately preceding proviso, Schedule A hereto shall not be amended or changed without the consent of the Corporation and the Majority
Purchasers after the Corporation’s initial public offering. Notwithstanding anything to the contrary in this Section 1(a), each Net Sales Payment Recipient, may, in its sole and absolute discretion, elect to permanently waive its right to
receive its Net Sales Payment for any given calendar year (the “Non-Payment Election”). Any Net Sales Payment Recipient making a Non-Payment Election shall notify the Corporation in writing of such Non-Payment Election by October 31
of such calendar year. 
 (b) Net Sales. 

(i) Net Sales shall be calculated as set forth in this Section 1(b) and shall be determined in accordance with the then-current
generally accepted accounting principles in the United States, consistently applied during the applicable calculation period throughout the Corporation’s organization, except as otherwise provided in Section 2 below. For clarity, as used
in this Section 1, “products” refers to both products and services, and “sales” refers to any sale, transfer, lease or other disposition by the Corporation, its Affiliates (as defined below) or their sublicensees of a
product or service. 
 (ii) Subject to the conditions set forth below, “Net Sales” shall mean the gross amount received by the
Corporation, its Affiliates and their sublicensees for or on account of sales of the Corporation’s products less the following amounts to the extent separately stated on the bill or invoice or actually paid by the Corporation, without
duplication, in effecting such sale: 
 (A) amounts repaid or credited by reason of actual rejection or return of applicable products; 

  
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 (B) reasonable and customary trade, quantity or cash rebates or discounts to the extent allowed
and taken; 
 (C) amounts for outbound transportation, insurance, handling and shipping; and 

(D) taxes, customs duties and other governmental charges levied on or measured by sales of products, as adjusted for rebates and refunds.

 (iii) Specifically excluded from the definition of “Net Sales” are amounts attributable to any sale of any product between or
among the Corporation and any of its Affiliates (for purposes hereof, “Affiliate” shall mean any other person who or which, directly or indirectly, controls, is controlled by, or is under common control with the Corporation), unless the
transferee is the end purchaser, user or consumer of such product. In such cases, “Net Sales” shall be determined based on the billed or invoiced sales price by the transferee to the first third party purchaser, less the deductions allowed
under Section 1(b)(ii) above. If any other sales of products are made in transactions that are not at arm’s length between the buyer and seller, then the gross amount to be included in the calculation of Net Sales will be based on the
average non-discounted cash amount charged to independent third parties for the product during the same period in the same country or, in the absence of such transaction, on the fair market value of the product in that country. 

(iv) If any product is sold for non-cash consideration, Net Sales shall be calculated based on the average non-discounted cash amount charged
to independent third parties for the product during the same period in the same country or, in the absence of such transaction, on the fair market value of the product in that country. 

(c) Reports. Concurrently with the making of Net Sales Payments, the Corporation shall provide a written report,
certified by an officer of the Corporation, to the Net Sales Payment Recipients, stating the number of products sold and/or distributed in the prior year, the price at which such products were sold on a country by country basis and the calculation
of Net Sales Payments (including support for any of the deductions to Net Sales as set forth above). 
 (d) Records. The
Corporation agrees to maintain true and accurate records, files, and books of account containing all the data reasonably required for the full computation and verification of the Net Sales Payments hereunder. Such records, files, and books of
account shall be kept for a period of no less than two (2) years following the submission of the written reports required by Section 1(c) to which they relate. 

(e) Survival of Net Sales Distribution. Subject to Section 2 below, the right of the Net Sales Payment Recipients to
receive the Net Sales Payments pursuant to this Section 1 shall survive an initial public offering, voluntary or involuntary liquidation, dissolution or 

  
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winding up of the Corporation or any Deemed Liquidation Event (as defined in the Corporation’s Fifth Amended and Restated Certificate of Incorporation). 

(f) Early Payment. Notwithstanding anything to the contrary in this Section 1, any accrued but unpaid Net Sales Payments
shall be payable upon (i) a voluntary or involuntary liquidation, dissolution or winding up of the Corporation; (ii) a Deemed Liquidation Event; or (iii) the redemption of a share of Series A Preferred Stock or Series A-1 Preferred
Stock. 
 (g) Current Net Sales Payments. The Corporation and each Net Sales Recipient hereby acknowledge that there are no
accrued but unpaid Net Sales Payments as of the date hereof. 
 2. Redemption. 

(a) Election. At the election of the Majority Purchasers, all or a portion of the Net Sales Payments will be redeemed by the
Corporation. The Majority Purchasers can elect (an “Election”) to have each Net Sales percentage point redeemed for $10.0 million payable in cash or the Corporation’s common stock, par value $0.001 (the “Common Stock”) at
their election. Common Stock will be valued as follows: if publicly traded a ten (10) day trailing closing average and, if not publicly traded, the fair market value as determined by the Corporation’s Board of Directors, in its sole and
absolute discretion. Cash payments will be subject to the Corporation’s ability to make such payments out of funds legally available under Delaware law. Subject to the foregoing, redemption shall occur within forty-five (45) days following
an Election. The Majority Purchasers may make an Election any time after January 1, 2017 and prior to January 1, 2019; provided, however, each Election must be at least six (6) months apart. For the avoidance of doubt, each redemption
of a Net Sales percentage point pursuant to this Section will reduce the royalty rate used to calculate the Net Sales Payment Recipients’ share of Net Sales based on the Corporation’s sales of its products by a percentage point. Once all
three (3) percentage points have been redeemed pursuant to this Section, the right of the Net Sales Payment Recipients to receive the Net Sales Payments, and this Agreement, will automatically terminate. Section 1(d) will survive any such
termination for the period provided therein. 
 (b) Redemption Termination. Section 2(a) shall automatically terminate
and be of no further force or effect upon the closing of the Corporation’s first firm commitment underwritten public offering of its Common Stock under the Securities Act of 1933, as amended. 

3. Miscellaneous. 

(a) Notices. All notices under this Agreement shall be in writing, and shall be deemed given when delivered in person or by a
recognized overnight courier service, when sent by confirmed fax or electronic mail, or three days after being sent by prepaid certified or 

  
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registered U.S. mail to the address of the party to be noticed as set forth herein or such other address as such party last provided to the other by written notice. 

(b) Assignment. This Agreement shall not be assigned by any Net Sales Payment Recipients without the prior written consent of
the Corporation. Any attempted assignment in contravention with the foregoing shall be void. This Agreement shall be binding on and inure to the benefit of the parties hereto, their successors and any permitted assigns. 

(c) Amendments and Waivers. This Agreement and its provisions may not be changed, amended, modified, or waived, except by a
written instrument executed by the Corporation and the Majority Purchasers. The failure of any party at any time or times to require performance of any provision of this Agreement shall in no manner affect the right of such party at a later date to
enforce the same. No waiver by any party of any condition or the breach of any provision, term, covenant, representation or warranty contained in this Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed to be or
construed as a further or continuing waiver of any such condition or any subsequent breach of any other provision, term, covenant, representation or warranty of this Agreement. 

(d) Governing Law; Jurisdiction. This Agreement, including any dispute or controversy arising out of or related to this
Agreement or the breach thereof, shall be subject to, governed by, and construed in accordance with, the laws of the State of Delaware, without reference to its principles of conflict of laws. 

(e) Entire Agreement. This Agreement constitutes the entire agreement among such parties pertaining to the subject matter hereof
and supersedes any and all other written or oral agreements among the parties pertaining to such subject matter, including, without limitation, Section 10 of the Certificate of Incorporation and the Prior Agreement. 

(f) Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be
considered in construing or interpreting this Agreement. 
 (g) Severability. If one or more provisions of this Agreement are
held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith, in order to maintain the economic position enjoyed by each party as close as possible to that under the provision rendered unenforceable.
In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if
such provision were so excluded, and (iii) the balance of the Agreement shall be enforceable in accordance with its terms. 

  
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 (h) Construction. As appropriate in context, whenever the singular number is used
herein, the same shall include the plural, and the neuter, masculine, and feminine genders shall include each other. 
 (i)
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. 

(j) Attorneys’ Fees. If any action at law or in equity (including arbitration) is necessary to enforce or interpret the
terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

(k) Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement,
upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or
approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the
extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

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

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

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Royalty Agreement to be executed
by their duly authorized agents on the day and year first above written. 
  

			
	Histogenics Corporation
		
	By:	 	 /s/ Adam Gridley

	Name:	 	Adam Gridley
	Title:	 	President and Chief Executive Officer

 IN WITNESS WHEREOF, the parties hereto have caused this Royalty Agreement to be executed
by their duly authorized agents on the day and year first above written. 
  

			
	SOFINNOVA VENTURE PARTNERS VIII, L.P.
	By:	 	Sofinnova Management VIII, L.L.C.
		 	Its General Partner
		
	By:	 	 /s/ James Healy

			
		
	Partner Name:	 	James Healy
		 	Managing Member
		
	Address:	 	2800 Sand Hill Road, Suite 150
		 	Menlo Park, CA 94025

 IN WITNESS WHEREOF, the parties hereto have caused this Royalty Agreement to be executed
by their duly authorized agents on the day and year first above written. 
  

			
	SPLIT ROCK PARTNERS II, LP
	By:	 	 Split Rock Partners II Management, LLC,
 its
General Partner

	
	 /s/ Steven L.P. Schwen

	By:	 	Steven L.P. Schwen
	Its:	 	Chief Financial Officer

 IN WITNESS WHEREOF, the parties hereto have caused this Royalty Agreement to be executed
by their duly authorized agents on the day and year first above written. 
  

			
	WILMSLOW ESTATES LIMITED
	
	 /s/ Cora Binchy

	By:	 	For:    Chaumont (Directors) Limited
		 	              Corporate Director
	Name:	 	  

	Title:	 	  

 IN WITNESS WHEREOF, the parties hereto have caused this Royalty Agreement to be executed
by their duly authorized agents on the day and year first above written. 
  

			
	Parties that are Individuals:
	
	  

	(name of individual)
	
	  

	(signature)
	
	  

	(mailing address)	 	
	
	  

	(email)	 	(telephone)            
	
	Parties that are Entities:
	
	  

	(name of entity)	 	
	
	  

	(signature)	 	
		
	Signatory Name:	 	  

		
	Signatory Title:	 	  

	
	  

	(mailing address)	 	
	
	  

	(email)	 	(telephone)            

 Schedule A 

Net Sales Payment Recipients 
  

			
	 NAME/ADDRESS
	  	 NET SALES PAYMENT PRO
RATA

               
 PERCENTAGES                

	 Sofinnova Venture Partners VIII, L.P.

2800 Sand Hill Road, Suite 150
 Menlo Park, CA
94025
	  	0.9152%
		
	 Split Rock Partners II, LP
 10400
Viking Drive, Suite 550
 Minneapolis, MN 55344
	  	0.6101%
		
	 FinTech Gimv Fund LP
 c/o FGT (GP)
Management Limited
 La Motte Chambers
 St.
Helier, Jersey
 Channel Islands
 JE1
1BJ
	  	0.1768%
		
	 BMV Direct LP
 17190 Bernardo Center
Drive
 San Diego, CA 92128
 Attn: Corp
Legal
	  	0.1156%
		
	 Boston Millennia Partners II Limited Partnership

30 Rowes Wharf
 Boston, MA 02110
	  	0.1089%
		
	 Boston Millennia Partners II-A Limited Partnership

30 Rowes Wharf
 Boston, MA 02110
	  	0.0052%
		
	 Boston Millennia Partners GmbH & Co. KG

30 Rowes Wharf
 Boston, MA 02110
	  	0.0155%
		
	 Boston Millennia Associates II Partnership

30 Rowes Wharf
 Boston, MA 02110
	  	0.0006%

			
	 NAME/ADDRESS
	  	 NET SALES PAYMENT PRO
RATA

               
 PERCENTAGES                

	 Strategic Advisors Fund Limited Partnership

30 Rowes Wharf
 Boston, MA 02110
	  	0.0010%
		
	 Altima Restructure Fund Limited

Altima Partners LLP
 11 Slingsby Place, 2nd
Floor
 St. Martin’s Courtyard
 London, UK
WC2E 9AB
	  	0.1811%
		
	 Foundation Medical Partners II, L.P.

105 Rowayton Avenue
 Rowayton, CT 06853
	  	0.0280%
		
	 Inflection Point Ventures II, L.P.
 30
Washington Street
 Wellesley, MA 02481
	  	0.0385%
		
	 Gene McGrevin
 10697 Bell Road

Duluth, GA 30097
	  	0.0479%
		
	 Wilmslow Estates Limited
 c/o
Stonehage Group
 2 The Forum
 Grenville
Street
 St Helier
 Jersey

JE1 4HH
	  	0.7188%
		
	 Ian Rosenberg
 4712 Spyglass
Drive
 Dallas, Texas 75287
	  	0.0214%
		
	 Kevin L. Rakin Irrevocable Trust
 14
Side Hill Road
 Westport, CT 06880
	  	0.0062%
		
	 Kevin Rakin
 14 Side Hill Road

Westport, CT 06880
	  	0.0092%EX-4.7

 Exhibit 4.7 

THIS NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY
MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE BORROWER THAT
REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT. 
 CONVERTIBLE PROMISSORY NOTE

  

			
	No. 2014-0__	  	Date of Issuance
	$                                      
  	  	                           , 2014

 FOR VALUE RECEIVED, Histogenics Corporation, a Delaware corporation (the “Company”) hereby promises
to pay ____________ (the “Lender”) the principal sum of ________________ ($________________), together with interest thereon from the date of this Note. Interest shall accrue at a rate of six percent (6%) per annum, compounded
annually. As set forth below, the principal and accrued interest under this Note shall be due and payable and converted into shares of the Company’s common stock, par value $0.001 (the “Common Stock”) or payable in cash pursuant to
the terms of this Note, upon the earliest to occur of: (i) September 30, 2015, (ii) the Initial Public Offering (as defined below) and (iii) the closing of a Corporate Transaction (as defined below). This Note is one of a series
of Notes issued by the Company to lenders on the same form as set forth herein (except that the lender, Purchase Price and Date of Issuance may differ in each Note) (the “Series”). 

1. Payment. All payments shall be made in cash or Common Stock pursuant to the terms of this Note at the principal office of the
Company, or at such other place as the holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to Costs (as defined below), if any, then to accrued interest due and payable and the remainder applied
to principal. Prepayment of principal, together with accrued interest, may not be made by the Company. The Company hereby waives demand, notice, presentment, protest and notice of dishonor. 

2. Security. This Note is a general unsecured obligation of the Company. 

3. Priority. This Note, along with all other Notes in the Series, is subordinated in right of payment to all indebtedness of the Company
arising under that certain Loan and Security Agreement (as amended and restated or modified from time to time (the “Senior Agreement”) between the Company and Silicon Valley Bank, whether existing on the date hereof or hereafter arising
(the “Senior Debt”). The Company hereby agrees, and by accepting this Note Lender hereby acknowledges and agrees, that so long as any Senior Debt remains outstanding, (i) upon notice by Silicon Valley Bank to the Company and Lender
that an event of default, or any event which the giving of notice or the passage of time or both would constitute an event of default, has occurred under the terms of the Senior Agreement (a “Default Notice”), the Company shall not make,
and Lender shall not receive or retain, any cash payment 

 
made under this Note unless and until Silicon Valley Bank provides notice to the Company that the circumstances giving rise to the Default Notice have been resolved, and (ii) if any payment
is made in violation of this Section 3, Lender shall promptly deliver the same to Silicon Valley Bank in the form received, with any endorsement or assignment necessary for the transfer of such payment from Lender to Silicon Valley Bank, to be
either (in Silicon Valley Bank’ sole discretion) held as cash collateral securing the Senior Debt or applied in reduction of the Senior Debt and, until so delivered, Lender shall hold such payment in trust as the property of Silicon Valley
Bank. Nothing in this Section 3 shall preclude or prohibit Lender from receiving and retaining any payment hereunder unless and until Lender has received a Default Notice (which shall be effective until waived in writing by the Silicon Valley
Bank) or from converting this Note or any amounts due hereunder into shares of Common Stock. This Note shall be senior in all respects (including right of payment) to all other indebtedness of the Company, now existing or hereafter. 

4. Representations and Warranties of the Company. In connection with the transactions provided for herein, the Company hereby represents
and warrants to Lender that: 
 4.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted. The Company is duly qualified to transact business and is in good standing
in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties. 
 4.2
Authorization. Except for the authorization and issuance of the shares issuable in connection with the Initial Public Offering or a Corporate Transaction, all corporate action has been taken on the part of the Company, its officers, directors
and stockholders necessary for the authorization, execution and delivery of this Note. The Company has taken all corporate action required to make all the obligations of the Company reflected herein the valid and enforceable obligations they purport
to be. 
 4.3 Compliance with Other Instruments. The authorization, execution and delivery of this Note will not constitute or result
in a material default or violation of any law or regulation applicable to the Company or any material term or provision of the Company’s current Fifth Amended and Restated Certificate of Incorporation, as amended, or bylaws, or any material
agreement or instrument by which it is bound or to which its properties or assets are subject. 
 4.4 Valid Issuance of Capital
Stock. The capital stock, when issued, sold and delivered upon conversion of this Note, will be duly authorized, validly issued, fully paid and nonassessable and, based in part upon the representations of Lender herein, will be issued in
compliance with all applicable federal and state securities laws. 
 5. Representations and Warranties of Lender. In connection with
the transactions provided for herein, Lender hereby represents and warrants to the Company that: 

  
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 5.1 Authorization. This Note constitutes Lender’s valid and legally binding
obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors’ rights and (ii) laws
relating to availability of specific performance, injunctive relief or other equitable remedies. 
 5.2 Purchase Entirely for Own
Account. Lender acknowledges that this Note is issued to Lender in reliance upon Lender’s representation to the Company that the Note will be acquired for investment for Lender’s own account, not as a nominee or agent, and not with a
view to the resale or distribution of any part thereof, and that Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Note, Lender further represents that Lender does not
have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to this Note. 

5.3 Disclosure of Information. Lender acknowledges that it has received all the information it considers necessary or appropriate for
deciding whether to acquire this Note. Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Note. 

5.4 Investment Experience. Lender is an investor in securities of companies in the development stage and acknowledges that it is able
to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Note. Lender also represents it
has not been organized solely for the purpose of acquiring this Note. 
 5.5 Accredited Investor. Lender is an “accredited
investor” within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Act”). 

5.6 Restricted Securities. Lender understands that this Note is characterized as a “restricted security” under the federal
securities laws inasmuch as it is being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain
limited circumstances. In this connection, Lender represents that it is familiar with Rule 144 as promulgated by the SEC under the Act, as presently in effect (“Rule 144”), and understands the resale limitations imposed thereby and by the
Act. 
 5.7 Further Limitations on Disposition. Without in any way limiting the representations and warranties set forth above,
Lender further agrees not to make any disposition of all or any portion of this Note unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Section 5 and Section 8.8 and: 

  
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 (a) There is then in effect a registration statement under the Act covering such proposed
disposition and such disposition is made in accordance with such registration statement; or 
 (b) (i) Lender shall have notified the
Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, (ii) Lender shall not make any disposition to any of the Company’s competitors as
such is in good faith determined by the Company’s Board of Directors, and (iii) if reasonably requested by the Company, Lender shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such
disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in extraordinary circumstances. 

6. Further Agreements. 

6.1 Conversion of the Note. This Note shall be convertible according to the following terms: 

(a) The following terms shall have the meanings assigned below: 

(i) “Corporate Transaction” means (A) the closing of the sale, transfer or other disposition of all or substantially all
of the Company’s assets, (B) the consummation of the merger or consolidation of the Company with or into another entity (except a merger or consolidation in which the holders of capital stock of the Company immediately prior to such merger
or consolidation continue to hold at least 50% of the voting power of the capital stock of the Company or the surviving or acquiring entity), (C) the closing of the transfer (whether by merger, consolidation or otherwise), in one transaction or
a series of related transactions, to a person or group of affiliated persons (other than an underwriter of the Company’s securities), of the Company’s securities if, after such closing, such person or group of affiliated persons would hold
50% or more of the outstanding voting stock of the Company (or the surviving or acquiring entity), or (D) the liquidation, dissolution or winding up of the Company; provided, however, that a transaction shall not constitute a Corporate
Transaction if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately
prior to such transaction. Notwithstanding the prior sentence, the sale of shares of the Company’s preferred stock, par value $0.001 (the “Preferred Stock”) in a bona fide financing transaction that would not otherwise qualify as a
“Corporate Transaction” under the foregoing definition shall not be deemed a “Corporate Transaction.” 
 (ii)
“Equity Securities” means the Company’s Common Stock or Preferred Stock or any securities conferring the right to purchase the Company’s Common Stock or Preferred Stock or securities convertible into, or exchangeable for
(with or without additional consideration), the Company’s Common Stock or Preferred Stock, except any security granted, issued and/or sold by the Company to any 

  
 4 

 
director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services. 

(iii) “Initial Public Offering” means the closing of the issuance and sale of shares of Common Stock of the Company in the
Company’s first underwritten public offering pursuant to an effective registration statement under the Act. 
 (b) In the event of an
Initial Public Offering of the Company prior to September 30, 2015 or prior to the time when the Note may be otherwise converted as provided herein, all outstanding principal due on the Note shall be converted into Common Stock at a price equal
to the offering price of the Common Stock at the time of the Initial Public Offering, as determined by the Company’s Pricing Committee of the Company’s Board of Directors at the time of such Initial Public Offering. All unpaid accrued
interest shall be payable in cash. 
 (c) In the event of a Corporate Transaction prior to September 30, 2015 or prior to the time when
the Note may be otherwise converted as provided herein, all outstanding principal due on the Note shall be converted into Common Stock of Company at the price of the Common Stock offered in such Corporate Transaction, as determined by the definitive
agreements governing such Corporate Transaction, or, if not determined in such definitive agreements, as determined in good faith by the Board of Directors at the time of conversion based on an independent 409(a) valuation of the Company’s
Common Stock performed by a valuation firm of regionally recognized standing or the Company’s auditors. Lender shall have the right to review the independent 409(a) valuation prior to final determination by the Board of Directors. All unpaid
accrued interest shall be payable in cash. 
 (d) If this Note has not otherwise been converted pursuant to Sections 6.1(b) or
(c) hereof by September 30, 2015, the principal and unpaid accrued interest of this Note shall be converted into shares of Common Stock or payable in cash at the Company’s election. If the Company elects to convert into Common Stock,
the number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal due on the Note on the date of conversion by the fair market value of the Common Stock as determined in good
faith by the Board of Directors at the time of conversion based on an independent 409(a) valuation of the Company’s Common Stock performed by a valuation firm of regionally recognized standing or the Company’s auditors. Lender shall have
the right to review the independent 409(a) valuation and supporting documents prior to final determination by the Board of Directors. All unpaid accrued interest shall be payable in cash. 

(e) Upon the conversion of this Note, in lieu of any fractional shares to which Lender would otherwise be entitled, the Company shall pay the
holder cash equal to such fraction multiplied by the fair market value of such Common Stock. 
 (f) As promptly as practicable after the
conversion of this Note, and in any event within fifteen (15) days following surrender by Lender, the Company at its expense will issue and deliver to Lender, upon surrender of the Note, a certificate or certificates for the number of full
shares of Common Stock issuable upon such conversion. 

  
 5 

 7. Defaults and Remedies. 

7.1 Events of Default. The following events shall be considered Events of Default with respect to this Note: 

(a) The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than
thirty (30) days after the same shall become due and payable, whether at maturity or at a date fixed for prepayment or by acceleration or otherwise; 

(b) The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become
due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or
regulation, or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the
Company, or of all of any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation of the Company; 

(c) Within thirty (30) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization,
arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed or, within thirty (30) days after the appointment without
the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated; 

(d) Any default or defined event of default shall occur under any agreement to which the Company or any of its subsidiaries is a party that
evidences indebtedness of Five Hundred Thousand Dollars ($500,000.00) or more; or 
 (e) The Company shall fail to observe or perform any
other obligation to be observed or performed by it under this Note, or any other agreement with Lender, within thirty (30) days after written notice from Lender to perform or observe the obligation. 

7.2 Remedies. Upon the occurrence of an Event of Default under Section 7.1 hereof, at the option and upon the declaration of
Lender, the entire unpaid principal and accrued and unpaid interest on this Note shall, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and Lender may, immediately
and without expiration of any period of grace, enforce payment of all amounts due and owing under this Note and exercise any and all other remedies granted to it at law, in equity or otherwise. 

  
 6 

 8. Miscellaneous. 

8.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Note shall inure to the benefit of
and be binding upon the respective successors and assigns of the parties; provided, however that the Company may not assign its obligations under this Note without the written consent of the Holder. Nothing in this Note, express or
implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note. 

8.2 Governing Law. This Note shall be governed by and construed under the laws of the Commonwealth of Massachusetts as applied to
agreements among Massachusetts residents, made and to be performed entirely within the Commonwealth of Massachusetts. 
 8.3 Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Note. 

8.4 Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively
given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (iii) five
(5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written
verification of receipt. 
 8.5 Finder’s Fee. Each party represents that it neither is nor will be obligated for any
finder’s fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s fee (and the costs and expenses
of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission
or compensation in the nature of a finder’s fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible. 

8.6 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Note, the prevailing party shall
be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

8.7 Severability. If one or more provisions of this Note are held to be unenforceable under applicable law, such provision shall be
excluded from this Note and the balance of the Note shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

  
 7 

 8.8 “Market Stand-Off” Agreement. Lender hereby agrees that it will not,
without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Initial Public Offering and ending on the date specified by the Company and the managing underwriter
(such period not to exceed one hundred eighty (180) days) (a) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or
otherwise transfer or dispose of, directly or indirectly, any shares of the Company’s Equity Securities (whether such Equity Securities are then owned by Lender or thereafter acquired), or (b) enter into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of the Company’s Equity Securities acquired through the conversion of the Note contemplated by this Agreement, whether any such transaction described in
clause (a) or (b) above is to be settled by delivery of securities, in cash or otherwise. The underwriters in connection with the Company’s initial public offering are intended third-party
beneficiaries of this Section 8.8 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Lender further agrees to execute such agreements as may be reasonably requested by the
underwriters in the Initial Public Offering that are consistent with this Section 8.8 that are necessary to give further effect thereto, including, without limitation, the lock-up agreement previously entered into by Lender. 

8.9 Stock Purchase Agreement. Lender understands and agrees that the conversion of the Note into Common Stock may require Lender’s
execution of certain agreements relating to the purchase and sale of such securities as well as registration, co-sale, rights of first refusal, rights of first offer and voting rights, if any, relating to such
securities. 
 8.10 Exculpation of Lender. Lender acknowledges that it is not relying upon any person, firm or corporation, other
than the Company and its officers and directors, in making its investment or decision to invest in the Company. Lender agrees that neither Lender nor the respective controlling persons, officers, directors, partners, agents or employees of any
Lender shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with this Note and any Company securities issued upon conversion thereof. 

8.11 Acknowledgement. In order to avoid doubt, it is acknowledged that Lender shall be entitled to the benefit of all adjustments in
the number of shares of Common Stock issuable upon conversion of the Preferred Stock which occur prior to the conversion of the Note, including without limitation, any increase in the number of shares of Common Stock issuable upon conversion as a
result of a dilutive issuance of capital stock. 
 8.12 Indemnity; Costs, Expenses and Attorneys’ Fees. The Company shall
indemnify and hold Lender harmless from any loss, cost, liability and legal or other expense, including attorneys’ fees of Lender’s counsel, which Lender may directly or indirectly suffer or incur by reason of the failure of the Company to
perform any of its obligations under this Note, any agreement executed in connection herewith or therewith, any grant of or exercise of remedies with respect to any collateral at any time securing any obligations evidenced by this Note, or any
agreement executed in connection herewith (collectively, “Costs”), provided, however, the indemnity agreement contained in this section shall not apply to liabilities which 

  
 8 

 
Lender may directly or indirectly suffer or incur by reason of Lender’s own gross negligence or willful misconduct. 

8.13 Further Assurance. From time to time, the Company shall execute and deliver to Lender such additional documents and shall provide
such additional information to the Lender as Lender may reasonably require to carry out the terms of this Note, and any agreements executed in connection herewith. 

8.14 Waiver of Jury Trial. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY
OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS NOTE, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS NOTE, OR THE TRANSACTIONS
RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION
OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS
RIGHT TO TRIAL BY JURY. 
 8.15 Entire Agreement; Amendments and Waivers. This Note and the other Notes in the Series constitute the
full and entire understanding and agreement between the parties with regard to the subjects hereof. The Company’s agreements with each holder of a Note are separate agreements, and the sales of the Notes to each holder are separate sales.
Nonetheless, any term of Notes in the Series may be amended and the observance of any term may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the
holders of a majority of the principal amounts set forth on Schedule A hereto; provided, however, that Sections 1, 6.1(b), 6.1(c) and 8.15 may not be amended or waived without the written consent of the Lender. Any waiver or
amendment effected in accordance with this Section 8.15 shall be binding upon each future holder of this Note and the Company. 
 8.16
Officers and Directors not Liable. In no event shall any officer or director of the Company be liable for any amounts due and payable pursuant to this Note. 
  

  
 9 

 IN WITNESS WHEREOF, the parties have executed this Note as of the Date of Issuance. 

 

			
	HISTOGENICS CORPORATION
		
	By:	 	  

		 	Adam Gridley
		 	President and Chief Executive Officer

 ACKNOWLEDGED AND AGREED: 
  

			
	LENDER
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE A 

ALLOCATION SCHEDULE 
  

					
	 FinTech Gimv Fund LP
	  	$	1,000,000	  
	 Sofinnova Venture Partners VIII, L.P.
	  	$	570,447	  
	 Split Rock Partners II, LP
	  	$	380,297	  
	 Wilmslow Estates Limited
	  	$	450,380	  
	 BMV Direct LLC
	  	$	76,059	  
	 Kevin L. Rakin Irrevocable Trust
	  	$	3,803	  
	 Kevin Rakin
	  	$	5,704	  
	 Ian Rosenberg
	  	$	13,310	  
		  	  
	  
	 
	 Total:
	  	$	2,500,000

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