Document:

Amended and Restated Voting Agreement

 Exhibit 10.9 
 AMENDED AND RESTATED VOTING AGREEMENT 
 This AMENDED AND RESTATED VOTING
AGREEMENT (the “Voting Agreement”) is made and entered into as of May 2, 2012, by and among KaloBios Pharmaceuticals, Inc., a Delaware corporation (the “Company”), the holders of the Company’s Series A
Preferred Stock (the “Series A Preferred Stock”), Series B-1 Preferred Stock (the “Series B-1 Preferred Stock”), Series B-2 Preferred Stock (the “Series B-2 Preferred Stock”), Series C
Preferred Stock (the “Series C Preferred Stock”), Series D Preferred Stock (the “Series D Preferred Stock”) and Series E Preferred Stock (the “Series E Preferred Stock”, and collectively with
the Series A Preferred Stock, Series B-1 Preferred Stock, Series B-2 Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, the “Preferred Stock”) as listed on the Schedule of Investors attached as
Exhibit A hereto (individually, an “Investor” and collectively, the “Investors”), and certain holders of Common Stock of the Company (individually, a “Common Holder” and collectively,
the “Common Holders”) listed on the Schedule of Common Holders attached as Exhibit B hereto. The Company, the Common Holders and the Investors are individually each referred to herein as a “Party” and
are collectively referred to herein as the “Parties.” The Company’s Board of Directors is referred to herein as the “Board.” 
 WITNESSETH: 
 WHEREAS, the Company, the Common Holders, and certain of the
Investors (the “Existing Investors”) are parties to that certain Amended and Restated Voting Agreement, dated as of September 22, 2008 (the “Prior Agreement”); 

WHEREAS, the Company and certain of the Investors (the “New Investors”) are parties to the Series E Preferred Stock
Purchase Agreement dated of even date herewith (the “Series E Agreement”), pursuant to which the New Investors are purchasing shares of the Company’s Series E Preferred Stock; 

WHEREAS, the Company, the Common Holders and the Existing Investors wish to provide further inducement to the New Investors to purchase
the Series E Preferred Stock by amending and restating the Prior Agreement to include the New Investors and to amend and restate the rights and obligations set forth therein, in each case as set forth herein; 

WHEREAS, the Prior Agreement may be amended with the consent of the Company, the holders of a majority of the then outstanding Common
Stock held by the Common Holders (a “Majority of Common Holders”), and Investors holding at least sixty percent (60%) of the outstanding Preferred Stock held by the Investors; 

WHEREAS, the Company, a Majority of Common Holders and Investors holding at least sixty percent (60%) of the outstanding Preferred
Stock held by the Investors are parties hereto; and 

 WHEREAS, the Company’s Amended and Restated Certificate of Incorporation filed in
connection with the closing of the Series E Agreement (the “Company’s Amended and Restated Certificate of Incorporation”) provides that (a) holders of shares of Preferred Stock, voting together as a single class,
shall elect two (2) members of the Board (the “Preferred Directors”) and (b) holders of shares of Preferred Stock and Common Stock, voting together as a single class, shall be entitled to elect any remaining members of the
Board (the “At-Large Director(s)”). 
 NOW, THEREFORE, in consideration of the foregoing premises and certain
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Agreement to Vote. Each Investor, as a holder of Preferred Stock, hereby agrees on behalf of itself and any transferee or assignee of any such shares of the Preferred Stock, to hold all of the
shares of Preferred Stock registered in its name (and any securities of the Company issued with respect to, upon conversion of, or in exchange or substitution of the Preferred Stock, and any other voting securities of the Company subsequently
acquired by such Investor) (hereinafter collectively referred to as the “Investor Shares”) subject to, and to vote the Investor Shares at a regular or special meeting of stockholders (or by written consent) in accordance with, the
provisions of this Agreement. Each Common Holder, as a holder of Common Stock of the Company, hereby agrees on behalf of itself and any transferee or assignee of any such shares of Common Stock, to hold all of such shares of Common Stock and any
other securities of the Company acquired by such Common Holder in the future (and any securities of the Company issued with respect to, upon conversion of, or in exchange or substitution for such securities) (the “Common
Holder Shares”) subject to, and to vote the Common Holder Shares at a regular or special meeting of stockholders (or by written consent) in accordance with, the provisions of this Agreement. 

2. Board Size. The holders of Investor Shares and Common Holder Shares shall vote at a regular or special meeting of stockholders
(or by written consent) such shares that they own (or as to which they have voting power) to ensure that the size of the Board shall be set at nine (9) directors; provided, however, that such Board size may be subsequently increased or
decreased pursuant to an amendment of this Agreement in accordance with Section 16 hereof. 
 3. Election of Directors
and Observation Rights. 
 (a) For so long as each of 5AM Ventures LLC and its affiliated funds (collectively,
“5AM”), Singapore Bio-Innovations Pte Ltd. and its affiliated funds (collectively “Singapore”), GBS Venture Partners Limited and its affiliated funds (collectively “GBS”) and Alloy Ventures and its
affiliated funds (collectively “Alloy”) holds in the aggregate at least three percent (3%) of the Fully-Diluted Capital Stock (as defined below) of the Company (as adjusted for stock splits, stock dividends, recapitalizations
or the like), each of 5AM, Singapore, GBS and Alloy shall be entitled to the following rights: 
 (i) If a designee of Singapore
is not represented on the Board, then the Company shall invite a representative of Singapore to attend all meetings of the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such representative
copies of all notices, minutes, consents, and other material that it provides to its directors; provided, however, that the Company shall reserve the right to exclude such 

  
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representative from access to any material or meeting or portion thereof if the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client
privilege. Such representative may participate in discussions of matters brought to the Board. 
 (ii) If a designee of 5AM is
not represented on the Board, the Company shall invite a representative of 5AM to attend all meetings of the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such representative copies of all
notices, minutes, consents, and other material that it provides to its directors; provided, however, that the Company shall reserve the right to exclude such representative from access to any material or meeting or portion thereof if the Company
believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege. Such representative may participate in discussions of matters brought to the Board. 

(iii) If a designee of GBS is not represented on the Board, the Company shall invite a representative of GBS to attend all meetings of
the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other material that it provides to its directors; provided, however, that the
Company shall reserve the right to exclude such representative from access to any material or meeting or portion thereof if the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client
privilege. Such representative may participate in discussions of matters brought to the Board. 
 (iv) If a designee of Alloy is
not represented on the Board, the Company shall invite a representative of Alloy to attend all meetings of the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such representative copies of all
notices, minutes, consents, and other material that it provides to its directors; provided, however, that the Company shall reserve the right to exclude such representative from access to any material or meeting or portion thereof if the Company
believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege. Such representative may participate in discussions of matters brought to the Board. 

(b) In any election of directors of the Company to elect the Preferred Directors, the Parties holding shares of Preferred Stock shall each
vote at any regular or special meeting of stockholders (or by written consent) such number of shares of Preferred Stock then owned by them (or as to which they then have voting power) as may be necessary to elect (i) one (1) director
nominated by funds managed by or affiliated with Sofinnova Ventures, Inc. (“Sofinnova”), which director shall initially be James Healy, for so long as Sofinnova holds at least five percent (5%) of the Fully-Diluted Capital
Stock (as defined below) of the Company (as adjusted for stock splits, stock dividends, recapitalizations or the like) and (ii) one (1) director nominated by a majority of the holders of shares of Preferred Stock, voting together as a
single class, which director shall initially be Dennis Henner. James Healy shall initially serve as Chairman of the Board. 

  
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 (c) (i) In any election of directors of the Company to elect At-Large Directors, the Parties
holding shares of Common Stock and Preferred Stock shall each vote at any regular or special meeting of stockholders (or by written consent) such number of shares of Common Stock and/or Preferred Stock then owned by them (or as to which they then
have voting power) as may be necessary to elect one (1) director who shall be the Company’s then current Chief Executive Officer (“CEO”). Such At-Large Director shall initially be David Pritchard; and 

(ii) In any election of directors of the Company to elect additional At-Large Directors, whom, in the reasonable judgment of the Board of
Directors of the Company, shall be recognized experts in the biotechnology field, and shall not be employed by the Company, the Investors and the Common Holders shall each vote at any regular or special meeting of stockholders (or by written
consent) such number of voting securities of the Company then owned by them (or as to which they then have voting power) as may be necessary to elect the At-Large Directors that are nominated by a majority of the holders of shares of Preferred Stock
and Common Stock, voting together as a single class, which directors shall initially be Brigitte Smith, Ted Love, Gary Lyons, Denise Gilbert and Ray Withy. 
 For purposes of this Agreement, “Fully-Diluted Capital Stock” shall mean (A) outstanding Common Stock, (B) Common Stock issuable upon conversion of Preferred Stock,
(C) Common Stock issuable upon exercise of outstanding options and (D) Common Stock issuable upon exercise (and, in the case of warrants to purchase Preferred Stock, conversion) of outstanding warrants. 

4. Removal. Any director of the Company may be removed from the Board in the manner allowed by law and the Company’s Amended
and Restated Certificate of Incorporation and Bylaws, but with respect to a director designated pursuant to subsections 3(b) and 3(c), only upon the vote or written consent of the stockholders holding a majority of the shares or directors entitled
to designate such director. 
 5. Legend on Share Certificates. Each certificate representing any Shares shall be
endorsed by the Company with a legend reading substantially as follows: 
 “THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A
VOTING AGREEMENT (A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE ISSUER), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID
VOTING AGREEMENT.” 
 6. “Drag Along” Right. In the event that the Board and the holders of at least sixty
percent (60%) of the then outstanding shares of Preferred Stock (on an as-converted basis) approve a Liquidation Event (as defined in the Company’s Amended and Restated Certificate of Incorporation) (a “Sale of the
Company”), then each Investor and Common Holder hereby agrees with respect to all securities of the Company which it own(s) or otherwise exercises voting or dispositive authority: 

  
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 (a) In the event the Sale of the Company is to be brought to a vote at a stockholder
meeting, after receiving proper notice of any meeting of stockholders of the Company to vote on the approval of a Sale of the Company, to be present, in person or by proxy, as a holder of shares of voting securities, at all such meetings and be
counted for the purposes of determining the presence of a quorum at such meetings; 
 (b) to vote (in person, by proxy or by
action by written consent, as applicable) all shares of the capital stock of the Company as to which it has beneficial ownership in favor of such Sale of the Company and in opposition of any and all other proposals that could reasonably be expected
to delay or impair the ability of the Company to consummate such Sale of the Company; 
 (c) to refrain from exercising any
dissenters’ rights or rights of appraisal under applicable law at any time with respect to such Sale of the Company; 
 (d)
to execute and deliver all related documentation and take such other action in support of the Sale of the Company as shall reasonably be requested by the Company; and 
 (e) except for this Voting Agreement, neither any of the parties hereto nor any affiliates thereof shall deposit any shares of capital stock beneficially owned by such party or affiliate in a voting trust
or subject any such shares of capital stock to any arrangement or agreement with respect to the voting of such shares of capital stock. 
 Notwithstanding the foregoing, (x) no Investor or Common Holder shall be required to comply with the provisions of this Section 6 with respect to a Sale of the Company (i) if such Investor
or Common Holder (solely in its role as a stockholder) is required to (A) make representations and warranties in any documentation to be entered into in connection with the Sale of the Company (the “Merger Documents”), that are
different than the representations and warranties provided by other stockholders (solely in their role as a stockholder) or (B) contribute additional capital or assets in connection with such sale of the Company, unless such Investor or Common
Holder otherwise agrees, or (ii) unless (A) the net proceeds of such Sale of the Company are to be distributed to stockholders of the Company in accordance with the Company’s Amended and Restated Certificate of Incorporation,
(B) the liability of each stockholder on account of such sale or transaction, is several and not joint with any other person (except to the extent that funds may be paid out of an escrow established to cover breach of representations,
warranties and covenants of the Company as well as breach by any stockholder of any of identical representations, warranties and covenants provided by all stockholders), and will not exceed the value of the consideration received by such stockholder
in the sale or transaction; and (C) the amount payable by such stockholder of the Company on account of any particular claim made against it (including any escrowed proceeds received by it) will not exceed its proportional allocation based on
the respective amount of consideration received by it in such transaction relative to all other stockholders and (y) no holder of Series E Preferred Stock shall be required to comply with the provisions of this Section 6 with respect to a
Sale of the Company 

  
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unless such holder would receive for each share of Series E Preferred Stock held by such holder an amount of consideration in such transaction greater than or equal to the Participation Cap
applicable to the Series E Preferred Stock (as defined in the Company’s Amended and Restated Certificate of Incorporation). 
 7. Covenants of the Company. The Company agrees to use its best efforts to ensure that the rights granted hereunder are effective and that the Parties hereto enjoy the benefits thereof. Such
actions include, without limitation, the use of the Company’s best efforts to cause the nomination and election of the directors as provided above. The Company will not, by any voluntary action, avoid or seek to avoid the observance or
performance of any of the terms to be performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement and in the taking of all such actions as may be necessary,
appropriate or reasonably requested by the holders of a majority of the outstanding voting securities held by the Parties hereto assuming conversion of all outstanding securities in order to protect the rights of the Parties hereunder against
impairment. 
 8. No Liability for Election of Recommended Directors. Neither the Company, the Common Holders, the
Investors, nor any officer, director, stockholder, partner, employee or agent of such Party, makes any representation or warranty as to the fitness or competence of the nominee of any Party hereunder to serve on the Company’s Board by virtue of
such Party’s execution of this Agreement or by the act of such Party in voting for such nominee pursuant to this Agreement. 
 9. Grant of Proxy. Should the provisions of this Agreement be construed to constitute the granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term
of this Agreement. 
 10. Specific Enforcement. It is agreed and understood that monetary damages would not adequately
compensate an injured Party for the breach of this Agreement by any Party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent
injunction or restraining order. Further, each Party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 
 11. Execution by the Company. The Company, by its execution in the space provided below, agrees that it will cause the certificates evidencing the shares of Common Stock and Preferred Stock to bear
the legend required by Section 5 herein, and it shall supply, free of charge, a copy of this Agreement to any holder of a certificate evidencing shares of capital stock of the Company upon written request from such holder to the Company at its
principal office. The Parties hereto do hereby agree that the failure to cause the certificates evidencing the shares of Common Stock and Preferred Stock to bear the legend required by Section 5 herein and/or failure of the Company to supply,
free of charge, a copy of this Agreement as provided under Section 5 shall not affect the validity or enforcement of this Agreement. 
 12. Captions. The captions, headings and arrangements used in this Agreement are for convenience only and do not in any way limit or amplify the terms and provisions hereof. 

  
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 13. Notices. All notices and other communications given or made pursuant hereto shall
be in writing and shall be deemed effectively given upon the earlier to occur of actual receipt or: (a) upon personal delivery to the Party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal
business hours of the recipient; or if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with
a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective Parties at the addresses set forth on the signature pages attached hereto (or at such
other addresses as shall be specified by notice given in accordance with this Section 13). 
 14. Term. This
Agreement shall terminate and be of no further force or effect immediately or on the earlier of (a) the consummation of the Company’s sale of its Common Stock or other securities listed on the Nasdaq National Market or the New York Stock
Exchange pursuant to a registration statement on Form S-1 or successor form under the Securities Act of 1933, as amended, (other than a registration statement relating either to sale of securities to employees of the Company pursuant to its stock
option, stock purchase or similar plan or a SEC Rule 145 transaction), with a pre-initial public offering valuation of at least $225,000,000 and gross proceeds to the Company of not less than $30,000,000; (b) the date on which a
registration statement on Form S-1 registering for re-sale by shareholders of this corporation shares of Common Stock issued upon conversion of the Preferred Stock and, without duplication, shares of Common Stock issued in, or shares of Common Stock
issued upon conversion of shares of Preferred Stock issued in, a PIPE Offering (as defined in the Amended and Restated Investors’ Rights Agreement, dated as of the date hereof among the Company and certain of its shareholders) becomes
effective; (c) the consummation of a Sale of the Company; or (d) the date specified by written consent or agreement of the holders of a majority of the then outstanding Common Stock held by the Common Holders and the holders of not less
than sixty percent (60%) of the then outstanding shares of Preferred Stock. 
 15. Manner of Voting. The voting of
shares pursuant to this Agreement may be effected in person, by proxy, by written consent, or in any other manner permitted by applicable law. 
 16. Amendments and Waivers. Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or
prospectively) only with the written consent of (a) the Company, (b) the holders of a majority of the then outstanding Common Stock held by the Common Holders, and (c) the holders of sixty percent (60%) of the then outstanding
Preferred Stock held by the Investors; provided, however, that any amendment to clause (y) of the last sentence of Section 6 also shall require the prior written consent of the holders of sixty percent (60%) of the then outstanding
Series E Preferred Stock held by the Investors. Any amendment or waiver so effected shall be binding upon the Parties hereto, and all their respective successors and assigns whether or not such party, assignee, or other stockholder entered into or
approved such amendment or waiver. The Parties hereby agree and acknowledge that the addition of an additional party pursuant to Section 23 below shall not constitute an amendment or waiver of this Agreement. 

  
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 17. Stock Splits, Stock Dividends, etc. In the event of any issuance of shares of the
Company’s voting securities hereafter to any of the Parties hereto (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization, or the like), such shares shall become subject to this
Agreement and shall be endorsed with the legend set forth in Section 5. 
 18. Severability. Whenever possible, each
provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 19. Binding Effect. In addition to any restriction or transfer that may be imposed by any other agreement by which any Party hereto may be bound, this Agreement shall be binding upon the Parties,
their respective heirs, successors and assigns and to such additional individuals or entities that may become stockholders of the Company and that desire to become Parties hereto; provided that for any such transfer to be deemed effective, the
transferee shall have executed and delivered an Adoption Agreement substantially in the form attached hereto as Exhibit C. Upon the execution and delivery of an Adoption Agreement by any transferee reasonably acceptable to the Company, such
transferee shall be deemed to be a Party hereto as if such transferee’s signature appeared on the signature pages hereto. By their execution hereof or any Adoption Agreement, each of the Parties hereto appoints the Company as its
attorney-in-fact for the purpose of executing any Adoption Agreement which may be required to be delivered hereunder. 
 20.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflicts of law principles thereof. 

21. Entire Agreement and Termination of Prior Agreement. This Agreement is intended to be the sole agreement of the Parties as it
relates to this subject matter and does hereby supersede all other agreements of the Parties relating to the subject matter hereof. By execution of this Agreement, the Company, Investors holding at least sixty percent (60%) of the outstanding
Preferred Stock held by the Investors and a majority of Common Holders subject to the Prior Agreement acknowledge and agree that the Prior Agreement shall hereby terminate and shall be of no further force and effect and each of the parties thereto
shall have no further rights or obligations thereunder. 
 22. Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 23. Additional Parties. 
 (a) In the event of a subsequent closing with an
investor as provided for in Section 1.3 of the Series E Agreement, such investor shall become a party to this Agreement as an “Investor” upon receipt from such investor of a fully executed signature page hereto. 

  
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 (b) If additional parties purchase shares of the Company’s Common Stock (each
additional party, a “New Common Holder”), including but not limited to, pursuant to the exercise of an option or warrant to purchase shares of Common Stock, then each such New Common Holder may become party to this Agreement as a
“Common Holder” hereunder, without the need for any consent, approval or signature of any Investor or Common Holder, when such New Common Holder has both: (i) purchased such shares of Common Stock and paid the Company all
consideration payable for such shares and (ii) executed a counterpart signature page to this Agreement. The Company shall require each stockholder owning shares of the Company’s Common Stock, which shares represent in the aggregate at
least one percent (1.0%) of the total capital stock of the Company, to become a party to this Agreement as a “Common Holder”. For purposes of this Section 23(b), “total capital stock of the Company” shall include
(A) all outstanding shares of the Company’s Common Stock, (B) all shares of Common Stock issuable upon conversion or exercise of all outstanding convertible or exercisable securities of the Company and (C) all shares of Common
Stock reserved for issuance pursuant to the Company’s employee stock plans. 
 24. Arbitration. Any controversy
between the Parties hereto involving any claim arising out of or relating to the termination of this Agreement, will be submitted to and be settled by final and binding arbitration in San Francisco, California, in accordance with the then current
Commercial Arbitration Rules of the American Arbitration Association (the “AAA”), and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. Such arbitration shall be conducted
by three (3) arbitrators chosen by the Company, the Investors, and the Common Holders, or failing such agreement, an arbitrator experienced in the sale of similarly-sized companies appointed by the AAA. There shall be limited discovery prior to
the arbitration hearing as follows: (a) exchange of witness lists and copies of documentary evidence and documents relating to or arising out of the issues to be arbitrated, (b) depositions of all party witnesses, and (c) such other
depositions as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with the California Code of Civil Procedure, the arbitrator(s) shall be required to provide in writing to the Parties the
basis for the award or order of such arbitrator(s), and a court reporter shall record all hearings, with such record constituting the official transcript of such proceedings. 
 25. Aggregation of Stock. All shares of the Preferred Stock and Common Stock held or acquired by affiliated entities or persons shall be aggregated together for the purpose of determining the
availability of any rights under this Agreement. For purposes of this Agreement, the mutual funds, other pooled vehicles and client accounts on whose behalf the Fidelity Investors (as defined in Section 26) and their respective investment
advisory affiliates exercise investment discretion shall be considered affiliates or affiliated entities or persons of such Fidelity Investors and such investment advisory affiliates. 

26. Massachusetts Business Trust. A copy of the Agreement and Declaration of Trust of Fidelity Advisor Series I: Fidelity Advisor
Dividend Growth Fund, Fidelity Advisor Series VII: Fidelity Advisor Biotechnology Fund, Fidelity Magellan Fund: Fidelity Magellan 

  
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Fund, Fidelity Rutland Square Trust II: Strategic Advisers Core Fund, Fidelity Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund, Fidelity Securities Fund: Fidelity Dividend
Growth Fund, Fidelity Select Portfolios: Biotechnology Portfolio and Variable Insurance Products Fund III: Balanced Portfolio (each, a “Fidelity Investor”) (or any affiliate thereof) is on file with the Secretary of the Commonwealth
of Massachusetts and notice is hereby given that this Agreement is executed on behalf of the trustees of each such Fidelity Investor or any such affiliate thereof as trustees and not individually and that the obligations of this Agreement are not
binding on any of the trustees, officers or stockholders of any such Fidelity Investor or any such affiliate thereof individually but are binding only upon each such Fidelity Investor or any such affiliate thereof and its assets and property.

 [Remainder of page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written
above. 
  

			
		 	KALOBIOS PHARMACEUTICALS, INC.
		
		 	/s/ David Pritchard
		 	 David Pritchard

Chief Executive Officer

		
	Address:	 	260 East Grand Avenue
		 	South San Francisco, CA 94080

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	 FIDELITY MAGELLAN FUND:
 FIDELITY MAGELLAN FUND

		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer
	
	FIDELITY SELECT PORTFOLIOS: BIOTECHNOLOGY PORTFOLIO
		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer
	
	 FIDELITY ADVISOR SERIES VII:
 FIDELITY ADVISOR BIOTECHNOLOGY FUND

		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	VARIABLE INSURANCE PRODUCTS
FUND III: BALANCED PORTFOLIO
		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer
	
	FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR DIVIDEND GROWTH FUND
		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer
	
	FIDELITY SECURITIES FUND: FIDELITY DIVIDEND GROWTH FUND
		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	FIDELITY RUTLAND SQUARE TRUST II: STRATEGIC ADVISERS CORE MULTI-MANAGER FUND
		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer
	
	FIDELITY RUTLAND SQUARE TRUST II: STRATEGIC ADVISERS CORE FUND
		
	By: 	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title: 	 	Deputy Treasurer

  

			
	Address for Notices:	 	Andrew Boyd
	 	 	Fidelity Investments
		 	82 Devonshire Street,
		 	V13H
		 	Boston, MA 02109
		 	Tel: 617-563-5144
		 	Fax: 617-385-2818

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	Mitsubishi UFJ Capital II, Limited partnership
		
	by:	 	Mitsubishi UFJ Capital its General Partner
		
	By:	 	/s/ Yoshihiro Hashimoto
	Name:	 	Yoshihiro Hashimoto
	Title:	 	President

 
			
		
	Address:	 	1-7-17 Nihonbashi, Chuo-ku
		 	             Tokyo, 103-0027, Japan

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	GENZYME CORPORATION
	
	By: /s/ David Meeker
                                         
        
	Name: David Meeker
	Title: President and Chief Executive Officer
		
	Address:	 	Genzyme Corporation
		 	 500 Kendall Street

		 	 Cambridge, MA 02142

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	MPM BIOVENTURES III, L.P.
		
	By:	 	 MPM BioVentures III GP, L.P.,

its General Partner

	By:	 	 MPM BioVentures III LLC,
 its
General Partner

		
	By:	 	/s/ Dennis Henner
	Name:	 	Dennis Henner
	Title:	 	Series A Member

  

			
	MPM BIOVENTURES III-QP, L.P.
		
	By:	 	MPM BioVentures III GP, L.P., its General Partner
	By:	 	MPM BioVentures III LLC, its General Partner
		
	By:	 	/s/ Dennis Henner
	Name:	 	Dennis Henner
	Title:	 	Series A Member

  

			
	 MPM BIOVENTURES III GMBH & CO.
 BETEILIGUNGS KG

		
	By:	 	MPM BioVentures III GP, L.P., in its capacity as the Managing Limited Partner
	By:	 	MPM BioVentures III LLC, its General Partner
		
	By:	 	/s/ Dennis Henner
	Name:	 	Dennis Henner
	Title:	 	Series A Member

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	 MPM BIOVENTURES III PARALLEL
 FUND, L.P.

		
	By:	 	 MPM BioVentures III GP, L.P.,

its General Partner

	By:	 	 MPM BioVentures III LLC,
 its
General Partner

		
	By:	 	/s/ Dennis Henner
	Name:	 	Dennis Henner
	Title:	 	Series A Member

  

			
	 MPM ASSET MANAGEMENT
 INVESTORS 2005 BVIII LLC

		
	By:	 	/s/ Dennis Henner
	Name:	 	Dennis Henner
	Title:	 	Manager

  

			
	 MPM BIOVENTURES STRATEGIC FUND,
 L.P.

		
	By:	 	 MPM BioVentures III GP, L.P.,

its General Partner

	By:	 	 MPM BioVentures III LLC,
 its
General Partner

		
	By:	 	/s/ Dennis Henner
	Name:	 	Dennis Henner
	Title:	 	Series A Member

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	SOFINNOVA VENTURE PARTNERS V, LP
	By:	 	 Sofinnova Management V 2005, LLC

Its General Partner

		
	By:	 	/s/ James I. Healy
		 	James I. Healy, Managing Director

  

			
	SOFINNOVA VENTURE AFFILIATES V, LP
	By:	 	 Sofinnova Management V, LLC

Its General Partner

		
	By:	 	/s/ James I. Healy
		 	James I. Healy, Managing Director

  

			
	SOFINNOVA VENTURE PRINCIPALS V, LP
	By:	 	 Sofinnova Management V, LLC

Its General Partner

		
	By:	 	/s/ James I. Healy
		 	James I. Healy, Managing Director

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
					
		 	INVESTORS:
		
		 	 ALLOY PARTNERS 2000, L.P.
 ALLOY VENTURES 2000, L.P.
 ALLOY CORPORATE 2000, L.P.

ALLOY INVESTORS 2000, L.P.
 ALLOY ANNEX
I, L.P.

		
		 	/s/ [Illegible]
		 	 By: Alloy Ventures 2000, LLC,
         its General Partner

		
	 Address:
	 	 480 Cowper Street, 2nd Floor
 Palo
Alto, CA 94301

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
					
		 	INVESTORS:
		
		 	5AM VENTURES LLC
			
		 	By:	 	/s/ [Illegible]
		 	Name:	 	
		 	Title:	 	
		
	Address:	 	 2200 Sand Hill Road, Suite 110
 Menlo Park, CA 94025

		
		 	5AM CO-INVESTORS LLC
			
		 	By:	 	/s/ [Illegible]
		 	Name:	 	
		 	Title:	 	
		
	Address:	 	 2200 Sand Hill Road, Suite 110
 Menlo Park, CA 94025

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	INVESTORS:
	
	LB I GROUP INC.
		
	By:	 	/s/ Ashvin Rao
	Name:	 	Ashvin Rao
	Title:	 	Vice President

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 INVESTORS: 

 

							
	Signed for and on behalf of GBS Venture Partners
Limited (ABN 54 072 515 247)
in
its capacity as trustee of GBS BioVentures II
				
	/s/ Brigitte Smith	 		 	/s/ Geoff Brooke	 	
	Director	 		 	Director	 	
				
	Brigitte Smith	 		 	Geoff Brooke	 	
	Name	 		 	Name	 	
	
	Signed for and on behalf of GBS Venture Partners Limited (ABN 54 072 515 247) in its capacity as trustee of the Genesis Fund
				
	/s/ Brigitte Smith	 		 	/s/ Geoff Brooke	 	
	Director	 		 	Director	 	
				
	Brigitte Smith	 		 	Geoff Brooke	 	
	Name	 		 	Name	 	

 
											
		
	 Address:
	 	     Level 5, 71 Collins St.
     Melbourne Vic, Australia

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	G&H PARTNERS
		
	By:	 	/s/ Jonathan Gleason
	Name:	 	Jonathan Gleason
	Title:	 	 

 
					
		
	Address:	 	 c/o Gunderson Dettmer
 1200 Seaport Blvd.
 Redwood City, CA 94063

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
			
	INVESTORS:
	
	BAXTER INTERNATIONAL INC.
		
	By:	 	/s/ Michael Baughman
	Name:	 	Michael Baughman
	Title:	 	CVP Controller

 
					
		
	Address:	 	 One Baxter Parkway

Deerfield, IL 60015-4625

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 
	
	COMMON HOLDERS:
	
	/s/ Dan Shochat
	Dan Shochat
	
	/s/ Geoffrey Yarranton
	Geoffrey Yarranton
	
	/s/ David Pritchard
	David Pritchard

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 EXHIBIT A 
 GBS Venture Partners Limited, as trustee of the Bioscience Ventures II Fund and the Genesis 
 Fund

 Lotus BioScience Investment Holdings Ltd. 
 5AM Investors, LLC 
 5AM Co-Investors, LLC 
 Singapore Bio-Innovations Pte Ltd. 
 Sofinnova Venture Partners V, LP 

Sofinnova Ventures Affiliates V, LP 
 Sofinnova
Venture Principals V, LP 
 Alloy Partners 2000, L.P. 
 Alloy Ventures 2000, L.P. 
 Alloy Corporate 2000, L.P. 

Alloy Investors 2000, L.P. 
 Alloy Annex I, L.P.

 Robert Balint 
 James Larrick

 MPM BioVentures III, L.P. 
 MPM
BioVentures III-QP, L.P. 
 MPM BioVentures III GmbH & Co. Beteiligungs KG 
 MPM BioVentures III Parallel Fund, L.P. 
 MPM Asset Management Investors 2005 BVIII LLC 

MPM BioVentures Strategic Fund, L.P. 
 Howard
Baer 
 Stuart E. Builder 
 George Sachs

 LB I Group Inc. 
 Mitsubishi UFJ
Capital II, Limited partnership 
 Genzyme Corporation 
 G&H Partners 
 Montgomery & Co., LLC 

Baxter International Inc. 
 Development Bank of
Japan 
 Fidelity Advisor Series I: Fidelity Advisor Dividend Growth Fund 
 Fidelity Advisor Series VII: Fidelity Advisor Biotechnology Fund 
 Fidelity Magellan Fund: Fidelity
Magellan Fund 
 Fidelity Rutland Square Trust II: Strategic Advisers Core Fund 
 Fidelity Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund 
 Fidelity Securities
Fund: Fidelity Dividend Growth Fund 
 Fidelity Select Portfolios: Biotechnology Portfolio 

Variable Insurance Products Fund III: Balanced Portfolio 

 EXHIBIT B 
 Robert F. Balint, PhD 
 Geoffrey Yarranton 
 Dan Shochat 
 David Pritchard 
 5AM Ventures LLC 
 5AM Co-Investors LLC 

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

 EXHIBIT C 
 ADOPTION AGREEMENT 
 This Adoption Agreement (“Adoption
Agreement”) is executed by the undersigned (the “Transferee”) pursuant to the terms of that certain Amended and Restated Voting Agreement dated as of May 2, 2012 (the “Agreement”) by and among the
Company and certain of its Stockholders. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, the Transferee agrees as follows:

 (a) Acknowledgment. Transferee acknowledges that Transferee is acquiring certain shares of the capital stock of the
Company (the “Stock”), subject to the terms and conditions of the Agreement. 
 (b) Agreement. Transferee
(i) agrees that the Stock acquired by Transferee shall be bound by and subject to the terms of the Agreement, and (ii) hereby adopts the Agreement with the same force and effect as if Transferee were originally a Party thereto. 

(c) Notice. Any notice required or permitted by the Agreement shall be given to Transferee at the address listed beside
Transferee’s signature below. 
 EXECUTED AND DATED this
            day of                     ,
            . 
  

					
		 	TRANSFEREE:
			
		 	By:	 	 
		 		 	Name and Title
		
	Address:	 	 
		 	 
		
	Fax:	 	 

  

					
	Accepted and Agreed:
	
	KALOBIOS PHARMACEUTICALS, INC
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENTAmended and Restated Right of First Refusal and Co-Sale Agreement

 Exhibit 10.10 
 AMENDED AND RESTATED 
 RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT

 This AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT is entered into as of May 2, 2012 by and
among KaloBios Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and David Pritchard, Geoffrey Yarranton, Dan Shochat, 5AM Ventures LLC, and 5AM Co-Investors LLC (each a “Key Common Holder” and together
the “Key Common Holders”) and the parties listed on Exhibit A (the “Purchasers”) who are holders of the Company’s Series A Preferred Stock (the “Series A Stock”), the Company’s
Series B-1 Preferred Stock (the “Series B-1 Stock”), the Company’s Series B-2 Preferred Stock (the “Series B-2 Stock”), the Company’s Series C Preferred Stock (the “Series C Stock”), the
Company’s Series D Preferred Stock (the “Series D Stock”) and/or the Company’s Series E Preferred Stock (the “Series E Stock” and, together with the Series A Stock, the Series B-1 Stock the Series B-2
Stock, the Series C Stock and the Series D Stock, the “Preferred Shares”). 
 W I T N E S S E T H : 

WHEREAS, the Company and certain of the Purchasers (the “New Purchasers”) are parties to the Series E Preferred Stock
Purchase Agreement of even date herewith (the “Series E Agreement”), pursuant to which the New Purchasers are purchasing shares of the Company’s Series E Stock; 

WHEREAS, each Key Common Holder is the beneficial owner of the number of shares of Common Stock of the Company set forth opposite his or
her name on Exhibit B hereto; 
 WHEREAS, the Company, each Key Common Holder and certain of the Purchasers (the
“Existing Purchasers”) are parties to that certain Amended and Restated Right of First Refusal and Co-Sale Agreement, dated as of September 22, 2008 (the “Prior Agreement”); and 

WHEREAS, the Company, each Key Common Holder and the Existing Purchasers wish to provide further inducement to the New Purchasers to
purchase Series E Stock by amending and restating the Prior Agreement to include the New Purchasers and to amend and restate the rights and obligations set forth therein, in each case as set forth herein. 

NOW, THEREFORE, in consideration of the foregoing premises and certain other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows: 
 1. Restrictions on Transfer of Shares by Key Common
Holders. Except as otherwise provided in this Agreement, each Key Common Holder will not sell, assign, transfer, pledge, hypothecate, or otherwise encumber or dispose of in any way, all or any part of or any interest in the Equity Securities (as
defined below) now or hereafter owned or held by such Key Common Holder. Any sale, assignment, transfer, pledge, hypothecation or other encumbrance or disposition of Equity Securities (as defined below) not made in conformance with this Agreement
shall be null and void, shall not be recorded on the books of the Company and shall not be recognized by the Company. 

 2. Definitions. 

(a) Equity Securities. For purposes of this Agreement, the term “Equity Securities” shall mean any securities
having voting rights in the election of the Board of Directors of the Company not contingent upon default, or any securities evidencing an ownership interest in the Company, or any securities convertible into or exercisable for any shares of the
foregoing, or any agreement or commitment to issue any of the foregoing. Notwithstanding the foregoing, with respect to 5AM Ventures LLC and 5AM Co-Investors LLC, the definition of Equity Securities shall only include an aggregate of 564,915 shares
of Common Stock (as adjusted for stock splits, reverse stock splits and the like effected after the date of this Agreement). 

(b) Holders. For purposes of this Agreement, the term “Holders” shall mean the Purchasers or persons who have
acquired shares from any of such persons or their transferees or assignees in accordance with the provisions of this Agreement. 

3. Agreements Among the Company, the Purchasers and the Key Common Holders. 

3.1 Rights of Refusal. 
 (a) Contingent Offer Notice and Firm Offer Notice. Subject to the Company’s right of first refusal, if at any time any Key Common Holder proposes to transfer at least 20,000 shares of Equity
Securities to one or more third parties pursuant to an understanding with such third parties (a “Transfer”), then the Key Common Holder shall give the Company and each Holder written notice of the Key Common Holder’s intention
to make the Transfer (the “Contingent Offer Notice”), which Contingent Offer Notice shall include (i) a description of the Equity Securities to be transferred (“Total Offered Shares”), (ii) the identity of
the prospective transferee(s) and (iii) the consideration and the material terms and conditions upon which the proposed Transfer is to be made. The Contingent Offer Notice shall certify that the Key Common Holder has received a firm offer from
the prospective transferee(s) and in good faith believes a binding agreement for the Transfer is obtainable on the terms set forth in the Contingent Offer Notice. The Contingent Offer Notice shall also include a copy of any written proposal, term
sheet or letter of intent or other agreement relating to the proposed Transfer. If the Company’s right of first refusal period has lapsed (thirty (30) days after receipt of the Contingent Offer Notice by the Company) and not all the Total
Offered Shares were purchased by the Company, the Key Common Holder shall immediately give each Holder written notice of the remaining shares (“Firm Offer Notice”), which Firm Offer Notice shall include (i) all the required
items from the Contingent Offer Notice and (ii) the number of Total Offered Shares that were not purchased by the Company (“Offered Shares”). 
 (b) Holders’ Option. The Holders shall have an option for a period of twenty (20) days from the Holder’s receipt of the Firm Offer Notice from the Key Common Holder set forth in
Section 3.1(a) to elect to purchase their respective pro rata shares of the 

  
 2 

 
Offered Shares at the same price and subject to the same material terms and conditions as described in the Firm Offer Notice. Each Holder may exercise such purchase option and, thereby, purchase
all or any portion of his, her or its pro rata share (with any re-allotments as provided below) of the Offered Shares, by notifying the Key Common Holder and the Company in writing, before expiration of the twenty (20) day period as to the
number of such shares which he, she or it wishes to purchase (including any re-allotment). Each Holder’s pro rata share of the Offered Shares shall be a fraction of the Offered Shares, of which the number of shares of Common Stock (including
shares of Common Stock issuable upon conversion of Preferred Shares) owned by such Holder on the date of the Firm Offer Notice shall be the numerator and the total number of shares of Common Stock (including shares of Common Stock issuable upon
conversion of Preferred Shares) held by all Holders on the date of the Firm Offer Notice shall be the denominator. Each Holder electing to exercise the right to purchase its full pro rata shares of the Offered Shares (a “Participating
Holder”) shall have a right of reallotment such that, if any other Holder fails to exercise the right to purchase its full pro rata share of the Offered Shares, each such Participating Holder may exercise an additional right to purchase all
or any portion of his, her or its pro rata share of the Offered Shares not previously purchased such that each Participating Holder will have a right to take up to 100% of any such remaining Offered Shares, regardless of whether his, her or its pro
rata ownership in the Company is modified as a result of his, her or its exercise of this right of first refusal. For the purpose of the preceding sentence, each Participating Holder’s pro rata share shall be a fraction of the Offered Shares
previously not purchased, the numerator of which shall be the number of shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Shares) held by such Participating Holder on the date of the Firm Offer Notice and
the denominator which shall be the total number of shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Shares) held by all Participating Holders on the date of the Firm Offer Notice. Each Holder shall be
entitled to apportion Offered Shares to be purchased among its partners and affiliates, provided that such Holder notifies the Key Common Holder of such allocation. If a Holder gives the Key Common Holder notice that it desires to purchase its pro
rata share of the Offered Shares and, as the case may be, its reallotment, then payment for the Offered Shares shall be by check or wire transfer, against delivery of the Offered Shares to be purchased at a place agreed upon between the parties and
at the time of the scheduled closing therefor, which shall be no later than forty-five (45) days after the Holder’s receipt of the Firm Offer Notice, unless the Firm Offer Notice contemplated a later closing with the prospective third
party transferee(s) or unless the value of the purchase price has not yet been established pursuant to Section 3.1(c). 

(c) Valuation of Property. Should the purchase price specified in the Contingent Offer Notice or Firm Offer Notice be payable in
property other than cash or evidences of indebtedness, the Company (or the Holders) shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property. If the Key Common Holder and the Holders cannot
agree on such cash value within ten (10) days after the Holders’ receipt of the Contingent Offer Notice, the valuation shall be made by an appraiser of recognized standing selected by the Key Common Holder and the Holders or, if they
cannot agree on an appraiser within twenty (20) days after the Holder’s receipt of the Contingent Offer Notice, each shall select an appraiser of recognized standing and the two appraisers shall designate a third appraiser of recognized
standing, whose appraisal shall be determinative of such value. The cost of such appraisal shall be shared equally by the Key Common Holder and the Holders, with the 

  
 3 

 
half of the cost borne by the Holders borne pro rata by each based on the number of shares such parties were interested in purchasing pursuant to this Section 3. If the time for the closing
of the Company’s purchase or the Holders’ purchase has expired but for the determination of the value of the purchase price offered by the prospective transferee(s), then such closing shall be held on or prior to the fifth business day
after such valuation shall have been made pursuant to this subsection. 
 3.2 Right of Co-Sale. 

(a) To the extent that (i) the Company has not exercised its right to purchase the offered shares pursuant to any right of first
refusal held by the Company and (ii) the Holders have not exercised their rights to purchase the Offered Shares pursuant to Section 3.1, then each Holder (a “Selling Holder” for purposes of this subsection 3.2) which
notifies the Key Common Holder in writing within thirty (30) days after receipt of the Firm Offer Notice referred to in Section 3.1(a), shall have the right to participate in such sale of Equity Securities on the same terms and conditions
as specified in the Firm Offer Notice. Such Selling Holder’s notice to the Key Common Holder shall indicate the number of shares of Equity Securities the Selling Holder wishes to sell under his, her or its right to participate. To the extent
one or more of the Holders exercise such right of participation in accordance with the terms and conditions set forth below, the number of shares of Equity Securities that the Key Common Holder may sell in the Transfer shall be correspondingly
reduced. 
 (b) Each Selling Holder may sell all or any part of that number of shares of Equity Securities equal to the product
obtained by multiplying (i) the aggregate number of shares of Equity Securities covered by the Firm Offer Notice by (ii) a fraction, the numerator of which is the number of shares of Common Stock (including shares of Common Stock issuable
upon conversion of Preferred Shares) owned by the Selling Holder on the date of the Firm Offer Notice and the denominator of which is the total number of shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred
Shares) owned by the Key Common Holder and all of the Selling Holders on the date of the Firm Offer Notice. 
 (c) Each Selling
Holder shall effect its participation in the sale by promptly delivering to the Key Common Holder for transfer to the prospective purchaser one or more certificates, properly endorsed for transfer, which represent: 

(i) the type and number of shares of Equity Securities which such Selling Holder elects to sell; or 

(ii) that number of shares of Equity Securities which are at such time convertible into the number of shares of Common Stock which such
Selling Holder elects to sell; provided, however, that if the prospective third-party purchaser objects to the delivery of Equity Securities in lieu of Common Stock, such Selling Holder shall convert such Equity Securities into Common Stock and
deliver Common Stock as provided in this Section 3.2. The Company agrees to make any such conversion concurrent with the actual transfer of such shares to the purchaser and contingent on such transfer. 

  
 4 

 (d) The stock certificate or certificates that the Selling Holder delivers to the Key Common
Holder pursuant to Section 3.2(c) shall be transferred to the prospective purchaser in consummation of the sale of the Equity Securities pursuant to the terms and conditions specified in the Firm Offer Notice, and the Key Common Holder shall
concurrently therewith remit to such Selling Holder that portion of the sale proceeds to which such Selling Holder is entitled by reason of its participation in such sale. To the extent that any prospective purchaser or purchasers prohibits such
assignment or otherwise refuses to purchase shares or other securities from a Selling Holder exercising its rights of co-sale hereunder, the Key Common Holder shall not sell to such prospective purchaser or purchasers any Equity Securities unless
and until, simultaneously with such sale, the Key Common Holder shall purchase such shares or other securities from such Selling Holder for the same consideration and on the same terms and conditions as the proposed transfer described in the Firm
Offer Notice. 
 3.3 Non-Exercise of Rights. To the extent that the Company has not exercised its right to purchase the
offered shares pursuant to any right of first refusal held by the Company and the Holders have not exercised their rights to purchase the Offered Shares within the time periods specified in Section 3.1 and the Holders have not exercised their
rights to participate in the sale of the Offered Shares within the time periods specified in Section 3.2, the Key Common Holder shall have a period of thirty (30) days from the expiration of such rights in which to sell the Offered Shares
upon terms and conditions (including the purchase price) no more favorable than those specified in the Firm Offer Notice to the third-party transferee(s) identified in the Firm Offer Notice. The third-party transferee(s) shall acquire the Offered
Shares free and clear of subsequent rights of first refusal and co-sale rights under this Agreement. In the event the Key Common Holder does not consummate the sale or disposition of the Offered Shares within the thirty (30) day period from the
expiration of these rights, the Holders’ first refusal rights and co-sale rights shall continue to be applicable to any subsequent disposition of the Offered Shares by the Key Common Holder until such right lapses in accordance with the terms
of this Agreement. Furthermore, the exercise or non-exercise of the rights of the Holders under this Section 3 to purchase Equity Securities from the Key Common Holder or participate in sales of Equity Securities by the Key Common Holder shall
not adversely affect their rights to make subsequent purchases from the Key Common Holder of Equity Securities or subsequently participate in sales of Equity Securities by the Key Common Holder. 

3.4 Limitations to Rights of Refusal and Co-Sale. Notwithstanding the provisions of Section 3.1 and 3.2 of this Agreement, the
Key Common Holder may sell or otherwise assign, with or without consideration, Equity Securities to any spouse or member of the Key Common Holder’s immediate family, or to a custodian, trustee (including a trustee of a voting trust), executor,
or other fiduciary for the account of the Key Common Holder’s spouse or members of the Key Common Holder’s immediate family, or to a trust for the Key Common Holder’s own self, or a charitable remainder trust, provided that each such
transferee or assignee, prior to the completion of the sale, transfer, or assignment shall have executed documents assuming the obligations of the Key Common Holder under this Agreement with respect to the transferred securities. In addition,
notwithstanding the provisions of Section 3.1 and 3.2 of this Agreement, 5AM Ventures LLC and 5AM Co-Investors LLC may sell or otherwise assign, with or without consideration, Equity Securities to (i) Aravis Venture, L.P., (ii) The
Bay City Capital Fund, L.P. and (iii) Versant Venture Capital, L.P. (each a “Member”), so long as prior to the completion of the sale, transfer, or assignment (a) such Member is a stockholder of the Company and
(b) such Member shall have executed documents assuming the obligations of a Key Common Holder under this Agreement with respect to the transferred Equity Securities. 

  
 5 

 3.5 Prohibited Transfers. 

(a) In the event the Key Common Holder should sell any Equity Securities in contravention of the co-sale rights of the Holders under
Section 3.2 (a “Prohibited Transfer”), the Holders, in addition to such other remedies as may be available at law, in equity or hereunder, shall have the put option provided below, and the Key Common Holder shall be bound by
the applicable provisions of such option. 
 (b) In the event of a Prohibited Transfer, each Holder shall have the right to sell
to the Key Common Holder the type and number of shares of Equity Securities equal to the number of shares each Holder would have been entitled to transfer to the third-party transferee(s) under Section 3.2 hereof had the Prohibited Transfer
been effected pursuant to and in compliance with the terms hereof. Such sale shall be made on the following terms and conditions: 
 (i) The price per share at which the shares are to be sold to the Key Common Holder shall be equal to the price per share paid by the third-party transferee(s) to the Key Common Holder in the Prohibited
Transfer. The Key Common Holder shall also reimburse each Holder for any and all fees and expenses, including legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of the Holder’s rights under Section 3.

 (ii) Within ninety (90) days after the later of the dates on which the Holder (A) receives notice of the Prohibited
Transfer or (B) otherwise becomes aware of the Prohibited Transfer, each Holder shall, if exercising the option created hereby, deliver to the Key Common Holder the certificate or certificates representing shares to be sold, each certificate to
be properly endorsed for transfer. 
 (iii) The Key Common Holder shall, upon receipt of the certificate or certificates for the
shares to be sold by a Holder, pursuant to this Section 3.5, pay the aggregate purchase price therefor and the amount of reimbursable fees and expenses, as specified in subparagraph 3.5(b)(i), in cash or by other means acceptable to the Holder.

 (iv) Notwithstanding the foregoing, any attempt by the Key Common Holder to transfer Equity Securities in violation of
Section 3 hereof shall be void and the Company agrees it will not effect such a transfer nor will it treat any alleged transferee(s) as the holder of such shares without the written consent of a majority in interest of the Holders. 

4. Assignments and Transfers; No Third Party Beneficiaries. This Agreement and the rights and obligations of the parties hereunder
shall inure to the benefit of, and be binding upon, their respective successors, assigns and legal representatives, but shall not otherwise be for the benefit of any third party. The rights of the Holders hereunder are only assignable (i) by
each of such Holders to any other Holder, (ii) to a partner or affiliate of such Holder or (iii) to an assignee or transferee who acquires all of the Equity Securities purchased by a Holder or at least 250,000 shares of Common Stock
(including shares of Common Stock issuable upon conversion of Preferred Shares). 

  
 6 

 5. Legend. Each existing or replacement certificate for shares now owned or hereafter
acquired by the Key Common Holder shall bear the following legend upon its face: 
 “THE SALE, PLEDGE, HYPOTHECATION,
ASSIGNMENT OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT BY AND BETWEEN THE STOCKHOLDER, THE CORPORATION AND CERTAIN HOLDERS OF STOCK OF
THE CORPORATION. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION.” 
 6.
Effect of Change in Company’s Capital Structure. Appropriate adjustments shall be made in the number and class of shares in the event of a stock dividend, stock split, reverse stock split, combination, reclassification or like change in
the capital structure of the Company. 
 7. Notices. All notices and other communications given or made pursuant hereto
shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) 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, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. The occurrence of the events set forth in clauses (a) through (d) above shall constitute “Delivery” of notice. All notices and other communications shall
be sent to the Company at 260 East Grand Avenue, South San Francisco, CA 94080, Attention: Chief Executive Officer and to the other parties at the addresses set forth on the Schedule A or Schedule B, as applicable (or at such other
addresses as shall be specified by notice given in accordance with this Section 7). 
 8. Further Instruments and
Actions. The parties agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. The Key Common Holders agree to cooperate affirmatively with the Company,
the Purchasers and the Holders, to the extent reasonably requested by the Company, the Purchasers or the Holders, to enforce rights and obligations pursuant hereto. 
 9. Term. This Agreement shall terminate and be of no further force or effect upon the earlier of (i) the closing of a firm commitment underwritten public offering pursuant to an effective
registration statement on Form S-1 or successor form under the Securities Act of 1933, as amended, covering the offer and sale of the Company’s Common Stock with a pre-initial public offering valuation of at least $225,000,000 and gross
proceeds to the Company of not less than $30,000,000; (ii) the date on which a registration statement on Form S-1 registering for re-sale by shareholders of this corporation shares of Common Stock issued upon conversion of the Preferred Stock
and, without duplication, shares of Common Stock issued in, or shares of Common Stock issued upon conversion of Preferred Stock issued in, a PIPE Offering (as defined in the Amended and Restated Investors’ Rights Agreement, dated as of the date
hereof among 

  
 7 

 
the Company and certain of its shareholders) becomes effective, (iii) the closing of a Liquidation Event (as defined in the Company’s Amended and Restated Certificate of Incorporation
filed on or about the date hereof), unless the treatment of such transaction as a Liquidation Event has been waived in accordance with such Amended and Restated Certificate of Incorporation; or (iv) the date specified by written consent or
agreement of the holders of not less than sixty percent (60%) of the then outstanding Preferred Shares. 
 10. Entire
Agreement. This Agreement contains the entire understanding of the parties hereto with respect to the subject matter hereof, supersedes all other agreements between or among any of the parties with respect to the subject matter hereof. To the
extent this Agreement conflicts with a provision from the Prior Agreement, this Agreement expressly supercedes and replaces such provisions. This Agreement shall be interpreted under the laws of the State of California without reference to
California conflicts of law provisions. 
 11. Amendments and Waivers. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of (i) the Company, (ii) the written consent of the holders of
more than fifty percent (50%) of the Common Stock held by Key Common Holders and (iii) the written consent of the holders of more than sixty percent (60%) of the then outstanding Preferred Shares; provided, however, that any amendment
or waiver that adversely and disproportionately affects the rights, powers and privileges hereunder in respect of the Series E Preferred Stock in a manner different from the other series of Preferred Stock shall require the prior written consent of
the holders of more than sixty percent (60%) of the then outstanding shares of Series E Preferred Stock. Any amendment or waiver effected in accordance with this paragraph shall be binding upon the Key Common Holders and all Holders and their
respective successors and assigns. The parties hereby agree and acknowledge that the addition of an additional party pursuant to Section 15 below shall not constitute an amendment or waiver of this Agreement. 

12. Separability. In case any provision of the Agreement shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 13. Attorney’s
Fees. In the event that any dispute among the parties to this Agreement should result in litigation, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of
such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals.

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

  
 8 

 15. Additional Parties. 

15.1 In the event of a subsequent closing with an investor as provided for in Section 1.3 of the Series E Agreement, such investor
shall become a party to this Agreement as a “Purchaser” upon receipt from such investor of a fully executed signature page hereto. 
 15.2 If additional parties purchase shares of Equity Securities (each additional party, a “New Key Common Holder”), including but not limited to, pursuant to the exercise of an option or
warrant to purchase shares of Equity Securities, then each such New Key Common Holder may become party to this Agreement as a “Key Common Holder” hereunder, without the need for any consent, approval or signature of any Holder or Key
Common Holder, when such New Key Common Holder has both: (a) purchased such shares of Equity Securities and paid the Company all consideration payable for such shares and (b) executed a counterpart signature page to this Agreement. The
Company shall require each stockholder owning shares of the Company’s Common Stock, which shares represent in the aggregate at least one percent (1.0%) of the total capital stock of the Company, to become a party to this Agreement as a
“Key Common Holder”. For purposes of this Section 15.2, “total capital stock of the Company” shall include (i) all outstanding shares of the Company’s Common Stock, (ii) all shares of Common Stock issuable
upon conversion or exercise of all outstanding convertible or exercisable securities of the Company and (iii) all shares of Common Stock reserved for issuance pursuant to the Company’s employee stock plans. 

16. Termination of Prior Agreement. Upon the effectiveness of this Agreement, the Prior Agreement shall terminate and be of no
further force and effect, and shall be superseded and replaced in its entirety by this Agreement. 
 17. Aggregation of
Stock. All shares of the Preferred Stock and Common Stock held or acquired by affiliated entities or persons shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. For purposes of this
Agreement, the mutual funds, other pooled vehicles and client accounts on whose behalf the Fidelity Investors (as defined in Section 18) and their respective investment advisory affiliates exercise investment discretion shall be considered
affiliates or affiliated entities or persons of such Fidelity Investors and such investment advisory affiliates. 

  
 9 

 18. Massachusetts Business Trust. A copy of the Agreement and Declaration of Trust of
Fidelity Advisor Series I: Fidelity Advisor Dividend Growth Fund, Fidelity Advisor Series VII: Fidelity Advisor Biotechnology Fund, Fidelity Magellan Fund: Fidelity Magellan Fund, Fidelity Rutland Square Trust II: Strategic Advisers Core Fund,
Fidelity Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund, Fidelity Securities Fund: Fidelity Dividend Growth Fund, Fidelity Select Portfolios: Biotechnology Portfolio and Variable Insurance Products Fund III: Balanced Portfolio
(each, a “Fidelity Investor”) (or any affiliate thereof) is on file with the Secretary of the Commonwealth of Massachusetts and notice is hereby given that this Agreement is executed on behalf of the trustees of each such Fidelity
Investor or any such affiliate thereof as trustees and not individually and that the obligations of this Agreement are not binding on any of the trustees, officers or stockholders of any such Fidelity Investor or any such affiliate thereof
individually but are binding only upon each such Fidelity Investor or any such affiliate thereof and its assets and property. 

[Remainder of page intentionally left blank.] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
		 	KALOBIOS PHARMACEUTICALS, INC.
		
		 	/s/ David Pritchard
		 	David Pritchard
		 	Chief Executive Officer
		
	Address:	 	 260 East Grand Avenue
 South
San Francisco, CA 94080

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
	
	KEY COMMON HOLDERS:
	
	/s/ Dan Shochat
	Dan Shochat

  

	
	/s/ Geoffrey Yarranton
	Geoffrey Yarranton
	
	 /s/ David Pritchard

	David Pritchard

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
					
		 	 KEY COMMON HOLDERS / PURCHASERS
  

5AM VENTURES LLC

			
		 	By:	 	/s/ [Illegible]
		 	Name:	 	 
		 	Title:	 	 
		
	Address:	 	 2200 Sand Hill Road, Suite 110
 Menlo Park, CA 94025

		
		 	5AM CO-INVESTORS LLC
			
		 	By:	 	/s/ [Illegible]
		 	Name:	 	 
		 	Title:	 	 
		
	Address:	 	 2200 Sand Hill Road, Suite 110
 Menlo Park, CA 94025

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
			
	 PURCHASERS:
  

FIDELITY MAGELLAN FUND:
 FIDELITY
MAGELLAN FUND
  

		
	By:	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title:	 	Deputy Treasurer
	  
 FIDELITY SELECT PORTFOLIOS:

BIOTECHNOLOGY PORTFOLIO

		
	By:	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title:	 	Deputy Treasurer
	  
 FIDELITY ADVISOR SERIES VII:

FIDELITY ADVISOR BIOTECHNOLOGY FUND

		
	By:	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title:	 	Deputy Treasurer

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

			
	 PURCHASERS:
  

VARIABLE INSURANCE PRODUCTS
 FUND III:
BALANCED PORTFOLIO
  

		
	By:	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title:	 	Deputy Treasurer
	  
 FIDELITY ADVISOR SERIES I:

FIDELITY ADVISOR DIVIDEND
 GROWTH
FUND

		
	By:	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title:	 	Deputy Treasurer
	  
 FIDELITY SECURITIES FUND:

FIDELITY DIVIDEND GROWTH FUND

		
	By:	 	/s/ Adrien Deberghes
	Name:	 	Adrien Deberghes
	Title:	 	Deputy Treasurer

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

					
		 	PURCHASERS:
		
		 	 FIDELITY RUTLAND SQUARE TRUST II:
 STRATEGIC ADVISERS CORE
 MULTI-MANAGER FUND

			
		 	By:	 	 /s/ Adrien Deberghes

		 	Name:	 	Adrien Deberghes
		 	Title:	 	Deputy Treasurer
		
		 	 FIDELITY RUTLAND SQUARE TRUST II:
 STRATEGIC ADVISERS CORE FUND

			
		 	By:	 	 /s/ Adrien Deberghes

		 	Name:	 	Adrien Deberghes
		 	Title:	 	Deputy Treasurer
		
	Address for Notices:	 	Andrew Boyd
		 	Fidelity Investments
		 	82 Devonshire Street, V13H
		 	Boston, MA 02109
		 	Tel: 617-563-5144
		 	Fax: 617-385-2818

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

			
	PURCHASERS:
	
	LB I GROUP INC.
		
	By:	 	/s/ Ashvin Rao
		 	  

	Name:	 	Ashvin Rao
	Title:	 	Vice President

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
			
	PURCHASERS:
	
	MPM BIOVENTURES III, L.P.
		
	By:	 	MPM BioVentures III GP, L.P.,
		 	its General Partner
	By:	 	MPM BioVentures III LLC,
		 	its General Partner
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member
	
	MPM BIOVENTURES III-QP, L.P.
		
	By:	 	MPM BioVentures III GP, L.P.,
		 	its General Partner
	By:	 	MPM BioVentures III LLC,
		 	its General Partner
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member
	
	MPM BIOVENTURES III GMBH & CO. BETEILIGUNGS KG
		
	By:	 	MPM BioVentures III GP, L.P., in its capacity as the Managing Limited Partner
		
	By:	 	MPM BioVentures III LLC,
		 	its General Partner
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

			
	PURCHASERS:
	
	MPM BIOVENTURES III PARALLEL FUND, L.P.
		
	By:	 	MPM BioVentures III GP, L.P.,
		 	its General Partner
	By:	 	MPM BioVentures III LLC,
		 	its General Partner
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member
	
	MPM ASSET MANAGEMENT INVESTORS 2005 BVIII LLC
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Manager
	
	MPM BIOVENTURES STRATEGIC FUND, L.P.
		
	By:	 	MPM BioVentures III GP, L.P.,
		 	its General Partner
	By:	 	MPM BioVentures III LLC,
		 	its General Partner

  

			
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
			
	PURCHASERS:
	
	SOFINNOVA VENTURE PARTNERS V, LP
	By:	 	Sofinnova Management V 2005, LLC
		 	Its General Partner
		
	By:	 	 /s/ James I. Healy

		 	James I. Healy, Managing Director
	
	SOFINNOVA VENTURE AFFILIATES V, LP
	By:	 	Sofinnova Management V, LLC
		 	Its General Partner
		
	By:	 	 /s/ James I. Healy

		 	James I. Healy, Managing Director
	
	SOFINNOVA VENTURE PRINCIPALS V, LP
	By:	 	Sofinnova Management V, LLC
		 	Its General Partner
		
	By:	 	 /s/ James I. Healy

		 	James I. Healy, Managing Director

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

  

					
		 	PURCHASERS:
		
		 	ALLOY PARTNERS 2000, L.P.
		 	ALLOY VENTURES 2000, L.P.
		 	ALLOY CORPORATE 2000, L.P.
		 	ALLOY INVESTORS 2000, L.P.
		 	ALLOY ANNEX I, L.P.
			
		 		 	 /s/ [Illegible]

		 	By:	 	Alloy Ventures 2000, LLC,
		 		 	its General Partner
		
	Address:	 	480 Cowper Street, 2nd Floor
		 	Palo Alto, CA 94301

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 PURCHASERS: 

 

									
	Signed for and on behalf of GBS Venture Partners
Limited (ABN 54 072 515 247) in its capacity as
trustee of GBS BioVentures II
			
	/s/ Brigitte Smith	 		 	/s/ Geoff Brooke
	Director	 		 	Director
			
	Brigitte Smith	 		 	Geoff Brooke
	Name	 		 	Name
	
	Signed for and on behalf of GBS Venture Partners Limited (ABN 54 072 515 247) in its capacity as trustee of the Genesis Fund
			
	/s/ Brigitte Smith	 		 	/s/ Geoff Brooke
	Director	 		 	Director
			
	Brigitte Smith	 		 	Geoff Brooke
	Name	 		 	Name

  

			
	Address:	  	Level 5, 71 Collins St.
		  	 Melbourne Vic, Australia

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
					
		 	    PURCHASERS:
		
		 	Mitsubishi UFJ Capital II, Limited partnership
			
		 	by:	 	Mitsubishi UFJ Capital its General Partner
			
		 	By:	 	 /s/ Yoshihiro Hashimoto

		 	Name:	 	Yoshihiro Hashimoto
		 	Title:	 	President
		
	Address:	 	    1-7-17 Nihonbashi, Chuo-ku
		 	        Tokyo, 103-0027, Japan

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
					
		 	PURCHASERS:
		
		 	GENZYME CORPORATION
			
		 	By:	 	/s/ David Meeker
		 	Name:	 	David Meeker
		 	Title:	 	President and Chief Executive Officer
		
	Address:	 	Genzyme Corporation
		 	    500 Kendall Street
		 	    Cambridge, MA 02142

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
					
	 	 	PURCHASERS:
		
		 	G&H PARTNERS
			
		 	By:	 	/s/ Jonathan Gleason
		 	Name:	 	Jonathan Gleason
		 	Title:	 	 
		
	Address:	 	c/o Gunderson Dettmer
		 	1200 Seaport Blvd.
		 	Redwood City, CA 94063

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 
					
	 	 	PURCHASERS:
		
		 	BAXTER INTERNATIONAL INC.
			
		 	By:	 	/s/ Michael Baughman
		 	Name:	 	Michael Baughman
		 	Title:	 	CVP Controller
		
	 Address:
	 	 One Baxter Parkway

		 	 Deerfield, IL 60015-4625

  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED AND RESTATED RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT 

 EXHIBIT A 
 5AM Investors, LLC 
 5AM Co-Investors, LLC 
 Singapore Bio-Innovations Pte Ltd. 
 Sofinnova Venture Partners V, LP 

Sofinnova Ventures Affiliates V, LP 
 Sofinnova
Venture Principals V, LP 
 Alloy Partners 2000, L.P. 
 Alloy Ventures 2000, L.P. 
 Alloy Corporate 2000, L.P. 

Alloy Investors 2000, L.P. 
 Alloy Annex I, L.P.

 Lotus BioScience Investment Holdings Ltd. 
 GBS Venture Partners Limited, as trustee of the Bioscience Ventures II Fund and the Genesis Fund 

Robert Balint 
 James Larrick 

MPM BioVentures III, L.P. 
 MPM BioVentures
III-QP, L.P. 
 MPM BioVentures III GmbH & Co. Beteiligungs KG 
 MPM BioVentures III Parallel Fund, L.P. 
 MPM Asset Management Investors 2005 BVIII LLC 

MPM BioVentures Strategic Fund, L.P. 
 Howard
Baer 
 Stuart E. Builder 
 George Sachs

 LB I Group Inc. 
 Mitsubishi UFJ
Capital II, Limited partnership 
 Genzyme Corporation 
 G&H Partners 
 Montgomery & Co., LLC 

Baxter International Inc. 
 Development Bank of
Japan 
 Fidelity Advisor Series I: Fidelity Advisor Dividend Growth Fund 
 Fidelity Advisor Series VII: Fidelity Advisor Biotechnology Fund 
 Fidelity Magellan Fund: Fidelity
Magellan Fund 
 Fidelity Rutland Square Trust II: Strategic Advisers Core Fund 
 Fidelity Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund 
 Fidelity Securities
Fund: Fidelity Dividend Growth Fund 
 Fidelity Select Portfolios: Biotechnology Portfolio 

Variable Insurance Products Fund III: Balanced Portfolio 

  
 S-2

 EXHIBIT B 
 Capital Stock of the Company Beneficially Owned by the Key Common Holders 
  

					
	 Key Common Holder
	  	 Class/Series of Stock
	  	 Number of Shares

	David Pritchard	  	Common	  	2,273,521
	Geoffrey Yarranton	  	Common	  	931,645
	Dan Shochat	  	Common	  	826,394
	5AM Ventures LLC	  	Common	  	514,882
	5AM Co-Investors LLC	  	Common	  	57,413

  
 S-2

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