Document:

EX-10.14

 Exhibit 10.14 

LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT (as the same may from time to time be amended, modified, supplemented or restated, this
“Agreement”) dated as of December 17, 2021 (the “Effective Date”) among OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 115 South Union Street, Suite 300, Alexandria, VA 22314
(“Oxford”), as collateral agent (in such capacity, “Collateral Agent”), the Lenders listed on Schedule 1.1 hereof or otherwise a party hereto from time to time including Oxford in its
capacity as a Lender (each a “Lender” and collectively, the “Lenders”), and VERA THERAPEUTICS, INC., a Delaware corporation with offices located at 8000 Marina Blvd., Suite 120, Brisbane, CA 94005
(“Borrower”), provides the terms on which the Lenders shall lend to Borrower and Borrower shall repay the Lenders. The parties agree as follows: 
  

	1.	 ACCOUNTING AND OTHER TERMS 

1.1    Accounting terms not defined in this Agreement shall be construed in accordance with GAAP. Calculations and
determinations must be made in accordance with GAAP. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have
the meaning provided by the Code to the extent such terms are defined therein. All references to “Dollars” or “$” are United States Dollars, unless otherwise noted. 

 

	2.	 LOANS AND TERMS OF PAYMENT 

2.1    Promise to Pay. Borrower hereby unconditionally promises to pay each Lender, the outstanding principal
amount of all Term Loans advanced to Borrower by such Lender and accrued and unpaid interest thereon and any other amounts due hereunder as and when due in accordance with this Agreement. 

2.2    Term Loans. 

(a)    Availability. (i) Subject to the terms and conditions of this Agreement, the Lenders agree, severally
and not jointly, to make term loans to Borrower on the Effective Date in an aggregate amount of up to Thirty Million Dollars ($30,000,000.00) according to each Lender’s Term A Loan Commitment as set forth on
Schedule 1.1 hereto (such term loans are hereinafter referred to singly as a “Term A Loan”, and collectively as the “Term A Loans”); provided that (x) the Term A Loan made on the
Effective Date (the “Effective Date Loan”) shall be in the minimum amount of Five Million Dollars ($5,000,000.00); and (y) if the Effective Date Loan is less than Thirty Million Dollars ($30,000,000.00), each Term A Loan made
after the Effective Date shall be (I) in minimum increments of Five Million Dollars ($5,000,000.00) or such lesser amount as shall remain available and (II) made during the period from January 3, 2022 through December 31, 2022.
After repayment, no Term A Loan may be re-borrowed. 
 (ii)    Subject to the
terms and conditions of this Agreement, the Lenders agree, severally and not jointly, during the Second Draw Period, to make term loans to Borrower in an aggregate amount up to Twenty Million Dollars ($20,000,000.00) according to each Lender’s
Term B Loan Commitment as set forth on Schedule 1.1 hereto (such term loans are hereinafter referred to singly as a “Term B Loan”, and collectively as the
“Term B Loans”; each Term A Loan or Term B Loan is hereinafter referred to singly as a “Term Loan” and the Term A Loans and the Term B Loans are hereinafter
referred to collectively as the “Term Loans”); provided that, each Term B Loan shall be in minimum increments of Five Million Dollars ($5,000,000.00) or such lesser amount as shall remain available. After repayment, no Term B
Loan may be re-borrowed. 
 (b)    Repayment. Borrower shall make monthly
payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through
and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such
Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest,
in arrears, to each Lender, as 

  
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calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate
of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (x) forty-eight (48) months, if the Amortization Date is January 1, 2026 and (y) sixty (60) months, if the Amortization Date is
January 1, 2027. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

 (c)    Mandatory Prepayments. If the Term Loans are accelerated following the occurrence of an Event of
Default, Borrower shall immediately pay to Lenders, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of: (i) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon
through the prepayment date, (ii) the Final Payment, (iii) the Prepayment Fee, plus (iv) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due
amounts. Notwithstanding (but without duplication with) the foregoing, on the Maturity Date, if the Final Payment had not previously been paid in full in connection with the prepayment of the Term Loans in full, Borrower shall pay to Collateral
Agent, for payment to each Lender in accordance with its respective Pro Rata Share, the Final Payment in respect of the Term Loan(s). 

(d)    Permitted Prepayment of Term Loans. 

(i)    Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders
under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least ten (10) days prior to such prepayment, and (ii) pays to the Lenders on the date of such
prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date,
(B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts. 

(ii)    Notwithstanding anything herein to the contrary, Borrower shall also have the option to prepay part of Term Loans
advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least ten (10) days prior to such prepayment, (ii) prepays such part of the
Term Loans in a denomination that is a whole number multiple of Five Million Dollars ($5,000,000.00), and (iii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an
amount equal to the sum of (A) the portion of outstanding principal of such Term Loans plus all accrued and unpaid interest thereon through the prepayment date, (B) the applicable Final Payment with respect to the portion of such Term Loan
being prepaid, (C) all other Obligations that are then due and payable, including Lenders’ Expenses, interest at the Default Rate with respect to any past due amounts, and the pro rata portion of any fees or expenses otherwise due upon the
Maturity Date, and (D) the applicable Prepayment Fee with respect to the portion of such Term Loans being prepaid; provided not more than four (4) voluntary partial prepayments shall be permitted during the term of this Agreement. For the
purposes of clarity, any partial prepayment shall be applied pro-rata to all outstanding amounts under each Term Loan, and shall be applied pro-rata within each Term
Loan tranche to reduce amortization payments under Section 2.2(b) on a pro-rata basis. 

2.3    Payment of Interest on the Credit Extensions. 

(a)    Interest Rate. Subject to Section 2.3(b), the principal amount outstanding under the Term Loans shall
accrue interest at a floating per annum rate equal to the Basic Rate, determined by Collateral Agent on the Funding Date of the applicable Term Loan, which interest shall be payable monthly in arrears in accordance with Sections 2.2(b) and
2.3(e). Interest shall accrue on each Term Loan commencing on, and including, the Funding Date of such Term Loan, and shall accrue on the principal amount outstanding under such Term Loan through and including the day on which such Term Loan is paid
in full. 
 (b)    Default Rate. Immediately upon the occurrence and during the continuance of an Event of
Default, the Obligations shall accrue interest at a floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased
interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent. 

  
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 (c)    360-Day
Year. Interest shall be computed on the basis of a three hundred sixty (360) day year, and the actual number of days elapsed. 

(d)    Debit of Accounts. Collateral Agent and each Lender may debit (or ACH) any deposit accounts (other than
Excluded Accounts), maintained by Borrower or any of its Subsidiaries, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes the Lenders under the Loan Documents when due; provided that,
except (i) with respect to debits (or ACH) for regularly scheduled principal and interest and (ii) as otherwise previously authorized by Borrower, Collateral Agent shall endeavor to provide prompt notice of such debit (or ACH). Any such
debits (or ACH activity) shall not constitute a set-off. 

(e)    Payments. Except as otherwise expressly provided herein, all payments by Borrower under the Loan Documents
shall be made to the respective Lender to which such payments are owed, at such Lender’s office in immediately available funds on the date specified herein. Unless otherwise provided, interest is payable monthly on the Payment Date of each
month. Payments of principal and/or interest received after 2:00 PM Eastern time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment is due the next
Business Day and additional fees or interest, as applicable, shall continue to accrue until paid. All payments to be made by Borrower hereunder or under any other Loan Document, including payments of principal and interest, and all fees, expenses,
indemnities and reimbursements, shall be made without set-off, recoupment or counterclaim, in lawful money of the United States and in immediately available funds. 

2.4    Secured Promissory Notes. The Term Loans shall be evidenced by a Secured Promissory Note or Notes in
the form attached as Exhibit D hereto (each a “Secured Promissory Note”), and shall be repayable as set forth in this Agreement. Borrower irrevocably authorizes each Lender to make or cause to be made, on
or about the Funding Date of any Term Loan or at the time of receipt of any payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the making of
such Term Loan or (as the case may be) the receipt of such payment. The outstanding amount of each Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing and
unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower under any Secured Promissory Note or
any other Loan Document to make payments of principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory Note,
Borrower shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor. 

2.5    Fees. Borrower shall pay to Collateral Agent: 

(a)    Good Faith Deposit. Borrower has remitted to Collateral Agent Fifty Thousand Dollars ($50,000.00) as a good
faith deposit, which amount shall be applied towards the facility fee due under Section 2.5(b) hereof on the Effective Date. For the sake of clarity, Borrower shall be responsible for the entire amount of the Lenders’ Expenses payable
under Section 2(d). 
 (b)    Final Payment. The Final Payment, when due hereunder, to be shared between the
Lenders in accordance with their respective Pro Rata Shares; 
 (c)    Prepayment Fee. The Prepayment Fee, when
due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares; 

(d)    Lenders’ Expenses. All Lenders’ Expenses (including reasonable attorneys’ fees and expenses
for documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due. 

2.6    Withholding. Except as provided in the following sentence, payments received by the Lenders (or the
Collateral Agent, if applicable) from Borrower hereunder will be made free and clear of and without deduction for any and all present or future Taxes. If at any time any Governmental Authority, applicable law, regulation or international agreement
requires Borrower to make any withholding or deduction from any such payment or other 

  
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sum payable hereunder to the Lenders, Borrower shall be permitted to make such withholding or deduction and hereby covenants and agrees that the amount due from Borrower with respect to such
payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the making of such required withholding or deduction, each Lender receives a net sum equal to the sum which it would have received had no
withholding or deduction been required and Borrower shall pay the full amount withheld or deducted to the relevant Governmental Authority. Borrower will, upon request, furnish the Lenders with proof reasonably satisfactory to the Lenders indicating
that Borrower has made such withholding payment; provided, however, that Borrower need not make any withholding payment if the amount or validity of such withholding payment is contested in good faith by appropriate and timely proceedings and as to
which payment in full is bonded or reserved against by Borrower. The agreements and obligations of Borrower contained in this Section 2.6 shall survive the termination of this Agreement. On the date of this Agreement, each Lender shall deliver,
and upon a Lender Transfer, the applicable successor or assign shall deliver, to Borrower a complete and properly executed IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup
withholding tax or any similar or successor certificate designated by the IRS (a “Tax Certificate”). Notwithstanding anything to the contrary in this Section 2.6, so long as no Event of Default has occurred, from and after the failure
of any Lender to so deliver such a Tax Certificate, the amount due from Borrower with respect to such payment or other sum payable hereunder shall not be required to be increased to the extent necessary to ensure that, after the making of such
required withholding or deduction, each Lender receives a net sum equal to the sum which it would have received had no withholding or deduction been required and Borrower shall pay the full amount withheld or deducted to the relevant Governmental
Authority, until such time as the Tax Certificate has been delivered. 
  

	3.	 CONDITIONS OF LOANS 

3.1    Conditions Precedent to Initial Credit Extension. Each Lender’s obligation to make a Term A Loan
is subject to the condition precedent that Collateral Agent and each Lender shall consent to or shall have received, in form and substance satisfactory to Collateral Agent and each Lender, such documents, and completion of such other matters, as
Collateral Agent and each Lender may reasonably deem necessary or appropriate, including, without limitation: 

(a)    original Loan Documents, each duly executed by Borrower and each Subsidiary, as applicable; 

(b)    duly executed original Control Agreements with respect to any Collateral Accounts, other than Excluded Accounts,
maintained by Borrower; 
 (c)    duly executed original Secured Promissory Notes in favor of each Lender according to
its Term A Loan Commitment Percentage; 
 (d)    the Operating Documents and good standing certificates of Borrower
certified by the Secretary of State (or equivalent agency) of Borrower’s jurisdiction of organization or formation and each jurisdiction in which Borrower is qualified to conduct business, each as of a date no earlier than thirty (30) days
prior to the Effective Date; 
 (e)    a completed Perfection Certificate for Borrower and each of its
Subsidiaries; 
 (f)    the Annual Projections, for the current calendar year; 

(g)    duly executed original officer’s certificate for Borrower and each Subsidiary that is a party to the Loan
Documents, in a form acceptable to Collateral Agent and the Lenders; 
 (h)    certified copies, dated as of date no
earlier than thirty (30) days prior to the Effective Date, of financing statement searches, as Collateral Agent shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such
financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 

(i)    [reserved]; 

  
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 (j)    [reserved]; 

(k)    a duly executed legal opinion of counsel to Borrower dated as of the Effective Date; 

(l)    evidence satisfactory to Collateral Agent and the Lenders that the insurance policies required by Section 6.5
hereof are in full force and effect, together with appropriate evidence showing loss payable and/or additional insured clauses or endorsements in favor of Collateral Agent, for the ratable benefit of the Lenders; and 

(m)    payment of the fees (if any) and Lenders’ Expenses then due as specified in Section 2.5 hereof. 

3.2    Conditions Precedent to all Credit Extensions. The obligation of each Lender to make each Credit
Extension, including the initial Credit Extension, is subject to the following conditions precedent: 
 (a)    receipt
by Collateral Agent of an executed Disbursement Letter in the form of Exhibit B attached hereto; 

(b)    the representations and warranties in Section 5 hereof shall be true, accurate and complete in all material
respects on the date of the Disbursement Letter and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified
by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of Default shall
have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in Section 5 hereof are true, accurate and complete
in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; 

(c)    in such Lender’s sole but reasonable discretion, there has not been any Material Adverse Change or any
material adverse deviation by Borrower from the then applicable Annual Projections of Borrower; 
 (d)    to the extent
not delivered at the Effective Date, duly executed original Secured Promissory Notes, in number, form and content acceptable to each Lender, and in favor of each Lender according to its Commitment Percentage, with respect to each Credit Extension
made by such Lender after the Effective Date; and 
 (e)    payment of the fees and Lenders’ Expenses then due as
specified in Section 2.5 hereof. 
 3.3    Covenant to Deliver. Borrower agrees to deliver to
Collateral Agent and the Lenders each item required to be delivered to Collateral Agent under this Agreement as a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Collateral
Agent or any Lender of any such item shall not constitute a waiver by Collateral Agent or any Lender of Borrower’s obligation to deliver such item, and any such Credit Extension in the absence of a required item shall be made in each
Lender’s sole discretion. 
 3.4    Procedures for Borrowing. Subject to the prior satisfaction of
all other applicable conditions to the making of a Term Loan set forth in this Agreement, to obtain a Term Loan, Borrower shall notify the Lenders (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 1:00 PM Eastern
time five (5) Business Days prior to the date the Term Loan is to be made. Together with any such electronic, facsimile or telephonic notification, Borrower shall deliver to the Lenders by electronic mail or facsimile a completed Disbursement
Letter executed by a Responsible Officer or his or her designee. The Lenders may rely on any telephone notice given by a person whom a Lender reasonably believes is a Responsible Officer or designee. On the Funding Date, each Lender shall credit
and/or transfer (as applicable) to the Designated Deposit Account, an amount equal to its Term Loan Commitment. 

  
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	4.	 CREATION OF SECURITY INTEREST 

4.1    Grant of Security Interest. Borrower hereby grants Collateral Agent, for the ratable benefit of the
Lenders, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Collateral Agent, for the ratable benefit of the Lenders, the Collateral, wherever located, whether now owned or
hereafter acquired or arising, and all proceeds and products thereof. Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the
Collateral, subject only to Permitted Liens that are permitted by the terms of this Agreement to have priority to Collateral Agent’s Lien. If Borrower shall acquire a commercial tort claim (as defined in the Code) with a value in excess of Two
Hundred Fifty Thousand Dollars ($250,000.00), Borrower, shall promptly notify Collateral Agent in a writing signed by Borrower, as the case may be, of the general details thereof (and further details as may be required by Collateral Agent) and grant
to Collateral Agent, for the ratable benefit of the Lenders, in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to
Collateral Agent. 
 If this Agreement is terminated, Collateral Agent’s Lien in the Collateral shall continue until the Obligations
(other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations) and at such time as the Lenders’ obligation to make Credit Extensions has
terminated, Collateral Agent shall, at the sole cost and expense of Borrower, release its Liens in the Collateral and all rights therein shall revert to Borrower. 

4.2    Authorization to File Financing Statements. Borrower hereby authorizes Collateral Agent to file
financing statements or take any other action required to perfect Collateral Agent’s security interests in the Collateral, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Collateral Agent’s interest or
rights under the Loan Documents, including a notice that any disposition of the Collateral, except to the extent permitted by the terms of this Agreement, by Borrower, or any other Person, shall be deemed to violate the rights of Collateral Agent
under the Code. 
 4.3    Pledge of Collateral. Borrower hereby pledges, assigns and grants to Collateral
Agent, for the ratable benefit of the Lenders, a security interest in all the Shares, together with all proceeds and substitutions thereof, all cash, stock and other moneys and property paid thereon, all rights to subscribe for securities declared
or granted in connection therewith, and all other cash and noncash proceeds of the foregoing, as security for the performance of the Obligations. On the Effective Date, or, to the extent not certificated as of the Effective Date, within ten
(10) days of the certification of any Shares, the certificate or certificates for the Shares will be delivered to Collateral Agent, accompanied by an instrument of assignment duly executed in blank by Borrower. To the extent required by the
terms and conditions governing the Shares, Borrower shall cause the books of each entity whose Shares are part of the Collateral and any transfer agent to reflect the pledge of the Shares. Upon the occurrence and during the continuance of an Event
of Default hereunder, Collateral Agent may effect the transfer of any securities included in the Collateral (including but not limited to the Shares) into the name of Collateral Agent and cause new (as applicable) certificates representing such
securities to be issued in the name of Collateral Agent or its transferee. Borrower will execute and deliver such documents, and take or cause to be taken such actions, as Collateral Agent may reasonably request to perfect or continue the perfection
of Collateral Agent’s security interest in the Shares. Unless an Event of Default shall have occurred and be continuing, Borrower shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and
ratifications in respect thereof, provided that no vote shall be cast or consent, waiver or ratification given or action taken which would be inconsistent with any of the terms of this Agreement or which would constitute or create any violation of
any of such terms. All such rights to vote and give consents, waivers and ratifications shall terminate upon the occurrence and continuance of an Event of Default. 
  

	5.	 REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants to Collateral Agent and the Lenders as follows: 

5.1    Due Organization, Authorization: Power and Authority. Borrower and each of its Subsidiaries is duly
existing and in good standing as a Registered Organization in its jurisdictions of organization or formation and Borrower and each of its Subsidiaries is qualified and licensed to do business and is in good standing in any jurisdiction in which the
conduct of its businesses or its ownership of property requires that it be qualified except where the failure 

  
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to do so could not reasonably be expected to have a Material Adverse Change. In connection with this Agreement, Borrower and each of its Subsidiaries has delivered to Collateral Agent a completed
perfection certificate signed by an officer of Borrower or such Subsidiary (each a “Perfection Certificate” and collectively, the “Perfection Certificates”). Borrower represents and warrants that (a) Borrower
and each of its Subsidiaries’ exact legal name is that which is indicated on its respective Perfection Certificate and on the signature page of each Loan Document to which it is a party; (b) Borrower and each of its Subsidiaries is an
organization of the type and is organized in the jurisdiction set forth on its respective Perfection Certificate; (c) each Perfection Certificate accurately sets forth each of Borrower’s and its Subsidiaries’ organizational
identification number or accurately states that Borrower or such Subsidiary has none; (d) each Perfection Certificate accurately sets forth Borrower’s and each of its Subsidiaries’ place of business, or, if more than one, its chief
executive office as well as Borrower’s and each of its Subsidiaries’ mailing address (if different than its chief executive office); (e) Borrower and each of its Subsidiaries (and each of its respective predecessors) have not, in the
past five (5) years, changed its jurisdiction of organization, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificates pertaining
to Borrower and each of its Subsidiaries, is accurate and complete in all material respects (it being understood and agreed that Borrower and each of its Subsidiaries may from time to time update certain information in the Perfection Certificates
(including the information set forth in clause (d) above) after the Effective Date to the extent permitted by one or more specific provisions in this Agreement); such updated Perfection Certificates subject to the review and approval of
Collateral Agent. If Borrower or any of its Subsidiaries is not now a Registered Organization but later becomes one, Borrower shall notify Collateral Agent of such occurrence and provide Collateral Agent with such Person’s organizational
identification number within five (5) Business Days of receiving such organizational identification number. 
 The execution, delivery
and performance by Borrower and each of its Subsidiaries of the Loan Documents to which it is a party have been duly authorized, and do not (i) conflict with any of Borrower’s or such Subsidiaries’ organizational documents, including
its respective Operating Documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law applicable thereto, (iii) contravene, conflict or violate any applicable order, writ, judgment,
injunction, decree, determination or award of any Governmental Authority by which Borrower or such Subsidiary, or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with,
or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect or are being obtained pursuant to Section 6.1(b)), or (v) constitute an event
of default under any material agreement by which Borrower or any of such Subsidiaries, or their respective properties, is bound. Neither Borrower nor any of its Subsidiaries is in default under any agreement to which it is a party or by which it or
any of its assets is bound in which such default could reasonably be expected to have a Material Adverse Change. 

5.2    Collateral. 

(a)    Borrower and each of its Subsidiaries have good title to, have rights in, and the power to transfer each item of the
Collateral upon which it purports to grant a Lien under the Loan Documents, free and clear of any and all Liens except Permitted Liens, and neither Borrower nor any of its Subsidiaries have any Deposit Accounts, Securities Accounts, Commodity
Accounts or other investment accounts other than the Collateral Accounts or the other investment accounts, if any, described in the Perfection Certificates delivered to Collateral Agent in connection herewith (as the same may be updated from time to
time in accordance with Section 6.6) with respect of which Borrower or such Subsidiary has given Collateral Agent notice and taken such actions as are necessary to give Collateral Agent a perfected security interest therein. The Accounts are
bona fide, existing obligations of the Account Debtors. 
 (b)    On the Effective Date, and except as disclosed on the
Perfection Certificate (i) the Collateral is not in the possession of any third party bailee (such as a warehouse), and (ii) no such third party bailee possesses components of the Collateral in excess of One Hundred Thousand Dollars
($100,000.00). None of the components of the Collateral shall be maintained at locations other than as disclosed in the Perfection Certificates on the Effective Date or as permitted pursuant to Section 6.11. 

(c)    All Inventory is in all material respects of good and marketable quality, free from material defects, other than
drug product prior to release by quality assurance or following the expiration date. 

  
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 (d)    Borrower and each of its Subsidiaries is the sole owner of the
Intellectual Property each respectively purports to own, free and clear of all Liens other than Permitted Liens. Except as noted on the Perfection Certificates, or otherwise notified to Collateral Agent pursuant to the terms of this Agreement (to
the extent Borrower is permitted to take such action resulting in the applicable update by one or more specific provisions of this Agreement), neither Borrower nor any of its Subsidiaries is a party to, nor is bound by, any material license or other
material agreement with respect to which Borrower or such Subsidiary is the licensee that (i) prohibits or otherwise restricts Borrower or its Subsidiaries from granting a security interest in Borrower’s or such Subsidiaries’ interest
in such material license or material agreement or any other material property, or (ii) for which a default under or termination of could reasonably be expected to interfere with Collateral Agent’s or any Lender’s right to sell any
Collateral. Borrower shall provide written notice to Collateral Agent and each Lender within fifteen (15) days of Borrower or any of its Subsidiaries entering into or becoming bound by any material license or material agreement with respect to
which Borrower or any Subsidiary is the licensee (other than (x) over the counter software that is commercially available to the public and (y) licenses which are subject to the immediately preceding sentence). 

5.3    Litigation. Except as disclosed (i) on the Perfection Certificates, or (ii) in accordance
with Section 6.9 hereof, there are no actions, suits, investigations, or proceedings pending or, to the knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than Two
Hundred Fifty Thousand Dollars ($250,000.00). 
 5.4    No Material Deterioration in Financial Condition;
Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP (subject, in the case of unaudited financial statements, to normal year-end non-cash adjustments, consistent with Borrower’s past practices), in all material respects, as of the dates and for the time periods presented therein, the
consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its
Subsidiaries since the date of the most recent financial statements submitted to any Lender. 

5.5    Solvency. Borrower is Solvent and Borrower and its Subsidiaries, on a consolidated basis, are
Solvent. 
 5.6    Regulatory Compliance. Neither Borrower nor any of its Subsidiaries is an
“investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Neither Borrower nor any of its Subsidiaries is engaged as one of its important activities
in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower and each of its Subsidiaries has complied in all material respects with the Federal Fair Labor Standards Act. Neither Borrower
nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility
Holding Company Act of 2005. Neither Borrower nor any of its Subsidiaries has violated any laws, ordinances or rules, the violation of which could reasonably be expected to have a Material Adverse Change. Neither Borrower’s nor any of its
Subsidiaries’ properties or assets has been used by Borrower or such Subsidiary or, to Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than in material
compliance with applicable laws. Borrower and each of its Subsidiaries has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all Governmental Authorities that are necessary to
continue their respective businesses as currently conducted. 
 None of Borrower, any of its Subsidiaries, or any of Borrower’s or its
Subsidiaries’ Affiliates or any of their respective agents acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement is (i) in violation of any
Anti-Terrorism Law, (ii) engaging in or conspiring to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding or attempts to violate, any of the prohibitions set forth
in any Anti-Terrorism Law, or (iii) is a Blocked Person. None of Borrower, any of its Subsidiaries, or to the knowledge of Borrower and any of their Affiliates or agents, acting or benefiting in any
capacity in connection with the transactions contemplated by this Agreement, (x) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person, or (y) deals
in, or otherwise engages in any transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order or other Anti-Terrorism Law. 

  
 8 

 5.7    Investments. Neither Borrower nor any of its
Subsidiaries owns any stock, shares, partnership interests or other equity securities except for Permitted Investments. 

5.8    Tax Returns and Payments; Pension Contributions. Borrower and each of its Subsidiaries has
timely filed (or timely filed extensions to file) all required Tax returns and reports (or, in the case of Tax returns and reports which are not for federal taxes, all required material Tax returns and reports), and Borrower and each of its
Subsidiaries, has timely paid all material foreign, federal, material state, and material local Taxes, assessments, deposits and contributions owed by Borrower and such Subsidiaries, in all jurisdictions in which Borrower or any such Subsidiary is
subject to Taxes, including the United States, unless (a) such Taxes are being contested in accordance with the following sentence or (b) in the case of non-federal material Tax returns and reports,
material foreign, material state or material local Taxes, if such non-federal material Tax returns and reports, material foreign, material state or material local Taxes, assessments, deposits and contributions
do not, individually or in the aggregate, exceed Twenty Five Thousand Dollars ($25,000.00). Borrower and each of its Subsidiaries, may defer payment of any contested Taxes, provided that Borrower or such Subsidiary, (a) in good faith contests
its obligation to pay the Taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Collateral Agent in writing of the commencement of, and any material development in, the proceedings, and (c) posts
bonds or takes any other steps required to prevent the Governmental Authority levying such contested Taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Neither Borrower nor any of its
Subsidiaries is aware of any claims or adjustments proposed in writing for any of Borrower’s or such Subsidiaries’, prior Tax years which could result in additional Taxes in excess of Twenty Five Thousand Dollars ($25,000.00) becoming due
and payable by Borrower or its Subsidiaries. Borrower and each of its Subsidiaries have paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and neither Borrower nor
any of its Subsidiaries have, withdrawn from participation in, and have not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in
any liability of Borrower or its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental Authority. 

5.9    Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working capital
and to fund its general business requirements in accordance with the provisions of this Agreement, and not for personal, family, household or agricultural purposes. 

5.10    Shares. Borrower has full power and authority to create a first lien on the Shares and no disability
or contractual obligation exists that would prohibit Borrower from pledging the Shares pursuant to this Agreement. To Borrower’s knowledge, there are no subscriptions, warrants, rights of first refusal or other restrictions on transfer relative
to, or options exercisable with respect to the Shares. The Shares have been and will be duly authorized and validly issued, and are fully paid and non-assessable. To Borrower’s knowledge, the Shares are
not the subject of any present or threatened suit, action, arbitration, administrative or other proceeding, and Borrower knows of no reasonable grounds for the institution of any such proceedings. 

5.11    Full Disclosure. No written representation, warranty or other statement of Borrower or any of its
Subsidiaries in any certificate or written statement given to Collateral Agent or any Lender, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given
to Collateral Agent or any Lender, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not materially misleading in light of the
circumstances under which such statements were made, after giving effect to all supplements and updates thereto from time to time (it being recognized that the projections and forecasts provided by Borrower in good faith and based upon reasonable
assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

5.12    Definition of “Knowledge.” For purposes of the Loan Documents, whenever a
representation or warranty is made to Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation,
of the Responsible Officers. 

  
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	6.	 AFFIRMATIVE COVENANTS 

Borrower shall, and shall cause each of its Subsidiaries to, do all of the following: 

6.1    Government Compliance. 

(a)    Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of
organization and maintain qualification in each jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Change. Comply with all laws, ordinances and regulations to which Borrower or any of its
Subsidiaries is subject, the noncompliance with which could reasonably be expected to have a Material Adverse Change. 

(b)    Obtain and keep in full force and effect, all of the material Governmental Approvals necessary for the performance
by Borrower and its Subsidiaries of their respective businesses and obligations under the Loan Documents and the grant of a security interest to Collateral Agent for the ratable benefit of the Lenders, in all of the Collateral. Upon the Collateral
Agent’s request, Borrower shall promptly provide copies to Collateral Agent of any material Governmental Approvals obtained by Borrower or any of its Subsidiaries. 

6.2    Financial Statements, Reports, Certificates. 

(a)    Deliver to the Collateral Agent: 

(i)    no later than forty-five (45) days after the last day of each fiscal quarter, a company prepared consolidated
balance sheet, income statement and cash flow statement covering the consolidated operations of Borrower and its Subsidiaries for such fiscal quarter certified by a Responsible Officer and in a form reasonably acceptable to Collateral Agent; 

(ii)    no later than one hundred twenty (120) days after the last day of Borrower’s fiscal year or within five
(5) days of filing with the SEC, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements (or qualified only as to going concern) from an independent
certified public accounting firm acceptable to Collateral Agent in its reasonable discretion; provided that KPMG and any other certified public accounting firm of recognized national standing shall be acceptable to the Collateral Agent; 

(iii)    no later than thirty (30) days after the last day of each of Borrower’s fiscal years, Borrower’s
annual financial projections for the entire current fiscal year as approved by Borrower’s Board of Directors, which such annual financial projections shall be set forth in a month by month format (such annual financial projections as originally
delivered to Collateral Agent and the Lenders are referred to herein as the “Annual Projections”; provided that, any revisions of the Annual Projections approved by Borrower’s Board of Directors shall be delivered to Collateral Agent
and the Lenders no later than seven (7) days after such approval); 
 (iv)    within five (5) Business Days
of delivery, copies of all non-ministerial statements, reports and notices made generally available to Borrower’s security holders or holders of Subordinated Debt; 

(v)    within five (5) Business Days of filing, all reports on Form 10 K, 10 Q and 8 K filed with the Securities and
Exchange Commission; 
 (vi)    prompt notice of any amendments of or other changes to the Operating Documents of
Borrower or any of its Subsidiaries, together with any copies reflecting such amendments or changes with respect thereto; 

(vii)    prompt notice of any event that could reasonably be expected to materially and adversely affect the Intellectual
Property in a manner that could have a material and adverse effect on Borrower’s business as conducted; 

  
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 (viii)    no later than thirty (30) days after the last day of
each month, copies of the monthly account statements for each Collateral Account maintained by Borrower or its Subsidiaries, which statements may be provided to Collateral Agent and each Lender by Borrower or directly from the applicable
institution(s); and 
 (ix)    other information as reasonably requested by Collateral Agent or any Lender. 

Notwithstanding the foregoing, documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials
otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on the internet at
Borrower’s website address. 
 (b)    Concurrently with the delivery of the financial statements specified in
Section 6.2(a)(i) above but no later than forty-five (45) days after the last day of each quarter, deliver to each Lender, a duly completed Compliance Certificate signed by a Responsible Officer. 

(c)    Keep proper books of record and account in accordance with GAAP in all material respects (subject to normal year-end non-cash adjustments, consistent with Borrower’s past practices), in which full, true and correct entries shall be made of all dealings and transactions in
relation to its business and activities. Borrower shall, and shall cause each of its Subsidiaries to, allow, at the sole cost of Borrower, Collateral Agent or any Lender, during regular business hours upon reasonable prior notice (but not less than
five (5) days prior written notice) (provided that no notice shall be required when an Event of Default has occurred and is continuing), to visit and inspect any of its properties, to examine and make abstracts or copies from any of its books
and records, and to conduct a collateral audit and analysis of its operations and the Collateral. Such audits shall be conducted no more often than once every year unless (and more frequently if) an Event of Default has occurred and is continuing.

 6.3    Inventory; Returns. Keep all Inventory in good and marketable condition, free from material
defects, other than drug product prior to release by quality assurance or following the expiration date. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow customary practices for
similarly situated suppliers in the Borrowers business . Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve Inventory with a book value of more than Two Hundred Fifty Thousand
Dollars ($250,000.00) individually or in the aggregate in any calendar year. 
 6.4    Taxes; Pensions.
Timely file and require each of its Subsidiaries to timely file, all required Tax returns and reports (or, in the case of Tax returns and reports which are not for U.S. federal taxes, all required material Tax returns and reports) and timely pay,
and require each of its Subsidiaries to timely pay, all material foreign, U.S. federal, material state, and material local Taxes, assessments, deposits and contributions owed by Borrower or its Subsidiaries, except for deferred payment of any Taxes
contested pursuant to the terms of Section 5.8 hereof, and shall deliver to Lenders, on demand, appropriate certificates attesting to such payments (or contested payments), and pay all amounts necessary to fund all present pension, profit
sharing and deferred compensation plans in accordance with the terms of such plans; provided that, as used herein, “material foreign, U.S. federal, material state, and material local Taxes, assessments, deposits and contributions” mean
those, individually or in the aggregate, equal to or exceed Twenty Five Thousand Dollars ($25,000.00). 

6.5    Insurance. Keep Borrower’s and its Subsidiaries’ business and the Collateral insured for
risks and in amounts standard for companies in Borrower’s and its Subsidiaries’ industry and location and as Collateral Agent may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are reasonably
satisfactory to Collateral Agent. Subject to the Post Closing Letter, all property policies shall have a lender’s loss payable endorsement showing Collateral Agent as lender loss payee and waive subrogation against Collateral Agent, and all
liability policies shall show, or have endorsements showing, Collateral Agent, as additional insured. The Collateral Agent shall be named as lender loss payee and/or additional insured with respect to any such insurance providing coverage in respect
of any Collateral, and each provider of any such insurance shall agree, subject to the Post Closing Letter, by endorsement upon the policy or policies issued by it or by independent instruments furnished to the Collateral Agent, that it will give
the Collateral Agent thirty (30) days prior written notice before any such policy or policies shall be materially altered or canceled. At Collateral Agent’s request, Borrower shall deliver certified copies of policies and evidence of all
premium payments. Proceeds payable under any policy shall, at Collateral Agent’s option, be payable to Collateral Agent, for the ratable benefit of the Lenders, on account of the 

  
 11 

 
Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has occurred and is continuing, Borrower shall have the option of applying the proceeds of any casualty policy
up to Five Hundred Thousand Dollars ($500,000.00) with respect to any loss, but not exceeding Five Hundred Thousand Dollars ($500,000.00), in the aggregate for all losses under all casualty policies in any one year, toward the replacement or repair
of destroyed or damaged property; provided that any such replaced or repaired property (i) shall be of equal or like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in which Collateral Agent has been
granted a first priority security interest, and (b) after the occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy shall, at the option of Collateral Agent, be payable to Collateral
Agent, for the ratable benefit of the Lenders, on account of the Obligations. If Borrower or any of its Subsidiaries fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to
third persons, Collateral Agent may make, at Borrower’s expense, all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Collateral Agent deems prudent. 

6.6    Operating Accounts. 

(a)    Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts, other than Excluded Accounts, in
accounts which are subject to a Control Agreement in favor of Collateral Agent. 
 (b)    Borrower shall provide
Collateral Agent five (5) days’ prior written notice before Borrower or any of its Subsidiaries establishes any Collateral Account at or with any Person other than Silicon Valley Bank or its Affiliates. In addition, for each Collateral
Account (other than Excluded Accounts) that Borrower or any Guarantor, at any time maintains, Borrower or such Guarantor shall cause the applicable bank or financial institution at or with which such Collateral Account is maintained to execute and
deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder prior to the establishment of such
Collateral Account, which Control Agreement may not be terminated without prior written consent of Collateral Agent. The provisions of the previous sentence shall not apply to Excluded Accounts. 

(c)    Neither Borrower nor any of its Subsidiaries shall maintain any Collateral Accounts except Collateral Accounts
maintained in accordance with Sections 6.6(a) and (b). 
 6.7    Protection of Intellectual Property
Rights. Borrower and each of its Subsidiaries shall: (a) use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of its owned Intellectual Property that is material to Borrower’s business as
conducted; (b) promptly upon becoming aware, advise Collateral Agent in writing of material infringement by a third party of its owned Intellectual Property that is material to Borrower’s business as conducted; and (c) not allow any
owned Intellectual Property material to Borrower’s business as conducted to be abandoned, forfeited or dedicated to the public without Collateral Agent’s prior written consent. 

6.8    Litigation Cooperation. Commencing on the Effective Date and continuing through the termination of
this Agreement, make available to Collateral Agent and the Lenders, upon reasonable request and during regular business hours (unless an Event of Default has occurred and is continuing), without expense to Collateral Agent or the Lenders, Borrower
and each of Borrower’s officers, employees and agents and Borrower’s Books, to the extent that Collateral Agent or any Lender may reasonably deem them necessary to prosecute or defend any third-party
suit or proceeding instituted by or against Collateral Agent or any Lender with respect to any Collateral or relating to Borrower. In such event, Collateral Agent shall work cooperatively with Borrower to minimize disruption, to the extent
reasonably possible, of Borrower’s ongoing operations. 
 6.9    Notices of Litigation and Default.
Borrower will give prompt written notice to Collateral Agent and the Lenders of any litigation or governmental proceedings pending or threatened (in writing) against Borrower or any of its Subsidiaries, which could reasonably be expected to result
in damages or costs to Borrower or any of its Subsidiaries of Two Hundred Fifty Thousand Dollars ($250,000.00) or more or which could reasonably be expected to have a Material Adverse Change. Without limiting or contradicting any other more specific
provision of this Agreement, promptly (and in any event within three (3) Business Days) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would
constitute an Event of Default, Borrower shall give written notice to Collateral Agent and the Lenders of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of
notice or passage of time, or both, would constitute an Event of Default. 

  
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	 	6.10	 [Intentionally Omitted.] 

6.11    Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries, after the
Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then
Borrower or such Subsidiary will first notify the Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Subsidiary or the Collateral at any such new location is valued in excess of Two Hundred
Fifty Thousand Dollars ($250,000.00) in the aggregate, such bailee or landlord, as applicable, must execute and deliver a bailee waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent prior to the
addition of any new offices or business locations, or any such storage with or delivery to any such bailee, as the case may be; provided the requirement of this Section 6.11 shall not apply to Collateral locations outside of the United States.

 6.12    Creation/Acquisition of Subsidiaries. In the event Borrower, or any of its Subsidiaries creates
or acquires any Subsidiary, Borrower shall provide prior written notice to Collateral Agent and each Lender of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Collateral Agent or any
Lender to cause each such Subsidiary to become a co-Borrower hereunder or to guarantee the Obligations of Borrower under the Loan Documents and, in each case, grant a continuing pledge and security interest in
and to the assets of such Subsidiary (substantially as described on Exhibit A hereto); and Borrower (or its Subsidiary, as applicable) shall grant and pledge to Collateral Agent, for the ratable benefit of the Lenders, a
perfected security interest in the Shares of each such newly created Subsidiary (subject to the limitations in the definition of Shares); provided, however, that solely in the circumstance in which Borrower or any Subsidiary creates or acquires a
Foreign Subsidiary in an acquisition permitted by Sections 7.7 hereof or otherwise approved by the Required Lenders, such Foreign Subsidiary shall not be required to guarantee the Obligations of Borrower under the Loan Documents or grant a
continuing pledge and security interest in and to the assets of such Foreign Subsidiary (provided such Foreign Subsidiary shall be subject to the same negative pledge arrangement with Collateral Agent and the Lenders as if party hereto) if the
aggregate value of cash and Cash Equivalents held or maintained by such Foreign Subsidiary does not exceed a book value of Two Hundred Fifty Thousand Dollars ($250,000.00) at any time. 

6.13    Further Assurances. 

(a)    Execute any further instruments and take further action as Collateral Agent or any Lender reasonably requests to
perfect or continue Collateral Agent’s Lien in the Collateral or to effect the purposes of this Agreement. 

(b)    Deliver to Collateral Agent and Lenders, within five (5) days after the same are sent or received, copies of
all material correspondence, reports, documents and other filings with any Governmental Authority that could reasonably be expected to have a material adverse effect on any of the Governmental Approvals material to Borrower’s business or
otherwise could reasonably be expected to have a Material Adverse Change. 
  

	7.	 NEGATIVE COVENANTS 

Borrower shall not, and shall not permit any of its Subsidiaries to, do any of the following without the prior written consent of the Required
Lenders: 
 7.1    Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of
(collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn out, surplus or
obsolete Inventory or Equipment; (c) in connection with Permitted Liens, Permitted Investments and Permitted Licenses; (d) consisting of the sale or issuance of any Shares that is not, and does not immediately result in, a violation
of Section 7.2(c)(ii) hereof; (e) by and between Borrower and any other Borrower or Guarantor; (f) consisting of Borrower’s use or transfer of money or Cash Equivalents in connection with transactions not prohibited hereunder, in
the ordinary course of 

  
 13 

 
business, and consistent with the then applicable Annual Projections; (g) unwinding of any Permitted Investments, and (h) other assets of Borrower or its Subsidiaries that do not in the
aggregate exceed One Hundred Thousand Dollars ($100,000.00) during any fiscal year. 
 7.2    Changes in
Business, Management, Ownership, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage in any business other than the businesses engaged in by Borrower as of the Effective Date or reasonably related
thereto; (b) liquidate or dissolve; or (c) (i) any Key Person shall cease to be actively engaged in the management of Borrower unless written notice thereof is provided to Collateral Agent within five (5) days of such change, or
(ii) consummate any transaction or series of related transactions in which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own more than forty nine percent (49%) of the voting stock of
Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering, a private placement of public equity or to venture capital
investors so long as Borrower identifies to Collateral Agent the venture capital investors prior to the closing of the transaction). Borrower shall not, without at least ten (10) days’ prior written notice to Collateral Agent: (A) add
any new offices or business locations, including warehouses (unless such new offices or business locations (i) contain less than Two Hundred Fifty Thousand Dollars ($250,000.00) in assets or property of Borrower or any of its Subsidiaries and
(ii) are not Borrower’s or its Subsidiaries’ chief executive office); (B) change its jurisdiction of organization, (C) change its organizational structure or type, (D) change its legal name, or (E) change any
organizational number (if any) assigned by its jurisdiction of organization. 
 7.3    Mergers or
Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock, shares or
property of another Person. A Subsidiary may merge or consolidate into another Subsidiary (provided such surviving Subsidiary is a “co-Borrower” hereunder or has provided a secured Guaranty of
Borrower’s Obligations hereunder) or with (or into) Borrower provided Borrower is the surviving legal entity, and as long as no Event of Default is occurring prior thereto or arises as a result therefrom. 

7.4    Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to
do so, other than Permitted Indebtedness. 
 7.5    Encumbrance. Create, incur, allow, or suffer
any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first
priority security interest granted herein (except for Permitted Liens that are permitted by the terms of this Agreement to have priority over Collateral Agent’s Lien), or enter into any agreement, document, instrument or other arrangement
(except with or in favor of Collateral Agent, for the ratable benefit of the Lenders) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower, or any of its Subsidiaries, from assigning, mortgaging, pledging,
granting a security interest in or upon, or encumbering any of Borrower’s or such Subsidiary’s Intellectual Property, except (i) as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted
Liens” herein and (ii) customary restrictions on assignment and transfer in license agreements under which Borrower or a Subsidiary is the licensee. 

7.6    Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of
Section 6.6 hereof. 
 7.7    Distributions; Investments. (a) Pay any dividends (other than
dividends payable solely in capital stock) or make any distribution or payment in respect of or redeem, retire or purchase any capital stock; provided that (i) Borrower may convert any of its convertible securities into other securities
pursuant to the terms of such convertible securities or otherwise in exchange thereof and may pay cash in lieu of the issuance of fractional shares provided that the aggregate amount of all such cash payments do not exceed One Hundred Thousand
Dollars ($100,000) per fiscal year, (ii) Borrower may repurchase the stock of current or former employees, officers or consultants pursuant to the terms of employee stock purchase plans, employee restricted stock agreements, stockholder rights
plans, director or consultant stock option plans, or similar plans, by the cancellation of indebtedness or otherwise, provided such repurchases do not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate per fiscal year and
(iii) Subsidiaries of Borrower may make distributions to Borrower or any Guarantor, or (b) directly or indirectly make any Investment other than Permitted Investments, or permit any of its Subsidiaries to do so. 

  
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 7.8    Transactions with Affiliates. Directly or
indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower or any of its Subsidiaries, except for (a) transactions that are in the ordinary course of Borrower’s or such Subsidiary’s business, upon
fair and reasonable terms that are no less favorable to Borrower or such Subsidiary than would be obtained in an arm’s length transaction with a non-affiliated Person, (b) Subordinated Debt or equity
investments by Borrower’s investors in Borrower or its Subsidiaries; (c) transactions of the type described in and permitted pursuant to Section 7.7 hereof, (d) employee agreements or arrangements, compensation arrangements and
reimbursements of expenses of current officers, employees or directors in the ordinary course of business approved by Borrower’s board of directors, (e) retention, bonus or similar arrangements in the ordinary course of business approved
by Borrower’s board of directors, and (f) transactions between Borrower and any Subsidiaries of Borrower otherwise permitted by the terms of this Agreement. 

7.9    Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under the
terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof, except in
accordance with the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or adversely affect the subordination thereof to Obligations owed to the Lenders. 

7.10    Compliance. Become an “investment company” or a company controlled by an
“investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as defined in Regulation U of the Board of Governors of the
Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, or permit a Reportable Event (as described in Section 4043 of ERISA, and for which the 30 day notice
requirement has not been waived) or a non-exempt Prohibited Transaction, as defined in Section 406 of ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or
regulation, if the violation could reasonably be expected to have a Material Adverse Change, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of,
or permit the occurrence of any other event with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower or any of its Subsidiaries, including any
liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental Authority. 

7.11    Compliance with Anti-Terrorism Laws. Collateral Agent
hereby notifies Borrower and each of its Subsidiaries that pursuant to the requirements of Anti-Terrorism Laws, and Collateral Agent’s policies and practices, Collateral Agent is required to obtain,
verify and record certain information and documentation that identifies Borrower and each of its Subsidiaries and their principals, which information includes the name and address of Borrower and each of its Subsidiaries and their principals and
such other information that will allow Collateral Agent to identify such party in accordance with Anti-Terrorism Laws. Neither Borrower nor any of its Subsidiaries shall, nor shall Borrower or any of its
Subsidiaries permit any Affiliate under the control of Borrower or such Subsidiary to, directly or indirectly, knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists. Borrower and each of
its Subsidiaries shall immediately notify Collateral Agent if Borrower or such Subsidiary has knowledge that Borrower, or any Subsidiary or Affiliate of Borrower, is listed on the OFAC Lists or (a) is convicted on, (b) pleads nolo
contendere to, (c) is indicted on, or (d) is arraigned and held over on charges involving money laundering or predicate crimes to money laundering. Neither Borrower nor any of its Subsidiaries shall, nor shall Borrower or any of its
Subsidiaries, permit any Affiliate to, directly or indirectly, (i) conduct any business or engage in any transaction or dealing with any Blocked Person, including, without limitation, the making or receiving of any contribution of funds, goods
or services to or for the benefit of any Blocked Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224 or any similar executive order
or other Anti-Terrorism Law, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions
set forth in Executive Order No. 13224 or other Anti-Terrorism Law. 

  
 15 

	8.	 EVENTS OF DEFAULT 

Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1    Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit
Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or
the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period); 

8.2    Covenant Default. 

(a)    Borrower or any of its Subsidiaries fails or neglects to perform any obligation in Sections 6.2 (Financial
Statements, Reports, Certificates), 6.4 (Taxes), 6.5 (Insurance), 6.6 (Operating Accounts), 6.7 (Protection of Intellectual Property Rights), 6.9 (Notice of Litigation and Default), 6.11 (Landlord Waivers; Bailee Waivers), 6.12 (Creation/Acquisition
of Subsidiaries) or 6.13 (Further Assurances) or Borrower violates any covenant in Section 7; or 

(b)    Borrower, or any of its Subsidiaries, fails or neglects to perform, keep, or observe any other term, provision,
condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has
failed to cure the default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within
such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such
reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Grace periods provided under this Section shall not apply, among other things, to
financial covenants or any other covenants set forth in subsection (a) above; 
 8.3    Material Adverse
Change. A Material Adverse Change occurs; 
 8.4    Attachment; Levy; Restraint on Business. 

(a)    (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or any of
its Subsidiaries or of any entity under control of Borrower or its Subsidiaries on deposit with any Lender or any Lender’s Affiliate or any bank or other institution at which Borrower or any of its Subsidiaries maintains a Collateral Account,
in excess of Fifty Thousand Dollars ($50,000.00), or (ii) a notice of lien, levy, or assessment is filed against Borrower or any of its Subsidiaries or their respective assets, in excess of Fifty Thousand Dollars ($50,000.00), by any government
agency, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions
shall be made during any ten (10) day cure period; and 
 (b)    (i) any material portion of Borrower’s
or any of its Subsidiaries’ assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower or any of its Subsidiaries from conducting any part of
its business; 
 8.5    Insolvency. (a) Borrower or any of its Subsidiaries is or becomes Insolvent;
(b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or any of its Subsidiaries and not dismissed or stayed within
forty-five (45) days (but no Credit Extensions shall be made while Borrower or any Subsidiary is Insolvent and/or until any Insolvency Proceeding is dismissed); 

8.6    Other Agreements. There is a default in any agreement to which Borrower or any of its Subsidiaries is
a party with a third party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Five Hundred Thousand Dollars ($500,000.00) or that could
reasonably be expected to have a Material Adverse Change; provided, however, that the Event of Default under this Section 8.6 caused by the occurrence of a breach or default under such other agreement shall be cured or waived for purposes of
this Agreement upon Collateral Agent receiving written notice from the party asserting such breach or default of such cure or waiver of the breach or default under such other agreement, if at the 

  
 16 

 
time of such cure or waiver under such other agreement (x) Collateral Agent has not declared an Event of Default under this Agreement and/or exercised any rights with respect thereto;
(y) any such cure or waiver does not result in an Event of Default under any other provision of this Agreement or any Loan Document; and (z) in connection with any such cure or waiver under such other agreement, the terms of any agreement
with such third party are not modified or amended in any manner which could in the good faith business judgment of Collateral Agent be materially less advantageous to Borrower or any Guarantor; 

8.7    Judgments. One or more judgments, orders, or decrees for the payment of money in an amount,
individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000.00) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier)
shall be rendered against Borrower or any of its Subsidiaries and shall remain unsatisfied, unvacated, or unstayed for a period of ten (10) days after the entry thereof (provided that no Credit Extensions will be made prior to the satisfaction,
vacation, or stay of such judgment, order or decree); 
 8.8    Misrepresentations. Borrower or any of its
Subsidiaries or any Person acting for Borrower or any of its Subsidiaries makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Collateral Agent and/or Lenders or to
induce Collateral Agent and/or the Lenders to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 

8.9    Subordinated Debt. A default or breach occurs under any agreement between Borrower or any of its
Subsidiaries and any creditor of Borrower or any of its Subsidiaries that signed a subordination, intercreditor, or other similar agreement with Collateral Agent or the Lenders, or any creditor that has signed such an agreement with Collateral Agent
or the Lenders breaches any terms of such agreement; 
 8.10    Guaranty. (a) Any Guaranty terminates
or ceases for any reason to be in full force and effect; (b) any Guarantor does not perform any obligation or covenant under any Guaranty; (c) any circumstance described in Sections 8.3, 8.4, 8.5, 8.7, or 8.8 occurs with respect to any
Guarantor, or (d) the: liquidation, winding up, or termination of existence of any Guarantor; 

8.11    Governmental Approvals. Any Governmental Approval shall have been revoked, rescinded, suspended,
modified in an adverse manner, or not renewed in the ordinary course for a full term and such revocation, rescission, suspension, modification or non-renewal has resulted in or could reasonably be
expected to result in a Material Adverse Change; or 
 8.12    Lien Priority. Any Lien created hereunder
or by any other Loan Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens which are permitted to have
priority in accordance with the terms of this Agreement; provided that such circumstance is not solely due to Collateral Agent’s failure to file an appropriate continuation financing statement, amendment financing statement or initial financing
statement. 
  

	9.	 RIGHTS AND REMEDIES 

9.1    Rights and Remedies. 

(a)    Upon the occurrence and during the continuance of an Event of Default, Collateral Agent may, and at the written
direction of Required Lenders shall, without notice or demand, do any or all of the following: (i) deliver notice of the Event of Default to Borrower, (ii) by notice to Borrower declare all Obligations immediately due and payable
(but if an Event of Default described in Section 8.5 occurs all Obligations shall be immediately due and payable without any action by Collateral Agent or the Lenders) or (iii) by notice to Borrower suspend or terminate the obligations, if
any, of the Lenders to advance money or extend credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Collateral Agent and/or the Lenders (but if an Event of Default described in Section 8.5
occurs all obligations, if any, of the Lenders to advance money or extend credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Collateral Agent and/or the Lenders shall be immediately terminated
without any action by Collateral Agent or the Lenders). 

  
 17 

 (b)    Without limiting the rights of Collateral Agent and the Lenders
set forth in Section 9.1(a) above, upon the occurrence and during the continuance of an Event of Default, Collateral Agent shall have the right at the written direction of the Required Lenders, without notice or demand, to do any or
all of the following: 
 (i)    foreclose upon and/or sell or otherwise liquidate, the Collateral; 

(ii)    apply to the Obligations any (a) balances and deposits of Borrower that Collateral Agent or any Lender holds
or controls, or (b) any amount held or controlled by Collateral Agent or any Lender owing to or for the credit or the account of Borrower; and/or 

(iii)    commence and prosecute an Insolvency Proceeding or consent to Borrower commencing any Insolvency Proceeding.

 (c)    Without limiting the rights of Collateral Agent and the Lenders set forth in Sections 9.1(a) and
(b) above, upon the occurrence and during the continuance of an Event of Default, Collateral Agent shall have the right, without notice or demand, to do any or all of the following: 

(i)    settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order that
Collateral Agent considers advisable, notify any Person owing Borrower money of Collateral Agent’s security interest in such funds, and verify the amount of such account; 

(ii)    make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its
security interest in the Collateral. Borrower shall assemble the Collateral if Collateral Agent requests and make it available in a location as Collateral Agent reasonably designates. Collateral Agent may enter premises where the Collateral is
located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Collateral Agent a
license to enter and occupy any of its premises, without charge, to exercise any of Collateral Agent’s rights or remedies; 

(iii)    ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, and/or advertise for sale, the
Collateral. Collateral Agent is hereby granted a limited non exclusive, non-sub-licensable, royalty free license or other right to use, without charge, Borrower’s
and each of its Subsidiaries’ labels, patents, copyrights, mask works, rights of use of any name, trade secrets, trade names, trademarks, service marks, and advertising matter, or any similar property as it pertains to the Collateral, solely to
the extent necessary in completing production of, advertising for sale, and selling any Collateral and, in connection with Collateral Agent’s exercise of its rights under this Section 9.1, Borrower’s and each of its Subsidiaries’
rights under all licenses and all franchise agreements inure to Collateral Agent, for the benefit of the Lenders; 

(iv)    place a “hold” on any account maintained with Collateral Agent or the Lenders and/or deliver a notice
of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

(v)    demand and receive possession of Borrower’s Books; 

(vi)    appoint a receiver to seize, manage and realize any of the Collateral, and such receiver shall have any right and
authority as any competent court will grant or authorize in accordance with any applicable law, including any power or authority to manage the business of Borrower or any of its Subsidiaries; and 

(vii)    subject to clauses 9.1(a) and (b), exercise all rights and remedies available to Collateral Agent and each
Lender under the Loan Documents or at law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 

Notwithstanding any provision of this Section 9.1 to the contrary, upon the occurrence of any Event of Default, Collateral Agent shall have the right to
exercise any and all remedies referenced in this Section 9.1 without the written 

  
 18 

 
consent of Required Lenders following the occurrence of an Exigent Circumstance. As used in the immediately preceding sentence, “Exigent Circumstance” means any event or
circumstance that, in the reasonable judgment of Collateral Agent, imminently threatens the ability of Collateral Agent to realize upon all or any material portion of the Collateral, such as, without limitation, fraudulent removal, concealment, or
abscondment thereof, destruction or material waste thereof, or failure of Borrower or any of its Subsidiaries after reasonable demand to maintain or reinstate adequate casualty insurance coverage, or which, in the judgment of Collateral Agent, could
reasonably be expected to result in a material diminution in value of the Collateral. 
 9.2    Power of
Attorney. Borrower hereby irrevocably appoints Collateral Agent as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of an
Event of Default, to: (a) endorse Borrower’s or any of its Subsidiaries’ name on any checks or other forms of payment or security; (b) sign Borrower’s or any of its Subsidiaries’ name on any invoice or bill of lading
for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Collateral Agent determines reasonable; (d) make, settle, and adjust
all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to
terminate or discharge the same; and (f) transfer the Collateral into the name of Collateral Agent or a third party as the Code or any applicable law permits. Borrower hereby appoints Collateral Agent as its lawful attorney-in-fact to sign Borrower’s or any of its Subsidiaries’ name on any documents necessary to perfect or continue the perfection of Collateral Agent’s
security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in full and Collateral Agent and the Lenders are under no further
obligation to make Credit Extensions hereunder. Collateral Agent’s foregoing appointment as Borrower’s or any of its Subsidiaries’ attorney in fact, and all of Collateral Agent’s rights and powers, coupled with an interest, are
irrevocable until all Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Collateral Agent’s and the Lenders’ obligation to provide Credit Extensions terminates. 

9.3    Protective Payments. If Borrower or any of its Subsidiaries fail to obtain the insurance called for
by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower or any of its Subsidiaries is obligated to pay under this Agreement or any other Loan Document, Collateral Agent may obtain such insurance or
make such payment, and all amounts so paid by Collateral Agent are Lenders’ Expenses and immediately due and payable, bearing interest at the Default Rate, and secured by the Collateral. Collateral Agent will make reasonable efforts to provide
Borrower with notice of Collateral Agent obtaining such insurance or making such payment at the time it is obtained or paid or within a reasonable time thereafter. No such payments by Collateral Agent are deemed an agreement to make similar payments
in the future or Collateral Agent’s waiver of any Event of Default. 
 9.4    Application of Payments and
Proceeds. Notwithstanding anything to the contrary contained in this Agreement, upon the occurrence and during the continuance of an Event of Default, (a) Borrower irrevocably waives the right to direct the application of any and all
payments at any time or times thereafter received by Collateral Agent from or on behalf of Borrower or any of its Subsidiaries of all or any part of the Obligations, and, as between Borrower on the one hand and Collateral Agent and Lenders on the
other, Collateral Agent shall have the continuing and exclusive right to apply and to reapply any and all payments received against the Obligations in such manner as Collateral Agent may deem advisable notwithstanding any previous application by
Collateral Agent, and (b) the proceeds of any sale of, or other realization upon all or any part of the Collateral shall be applied: first, to the Lenders’ Expenses; second, to accrued and unpaid interest on the Obligations (including any
interest which, but for the provisions of the United States Bankruptcy Code, would have accrued on such amounts); third, to the principal amount of the Obligations outstanding; and fourth, to any other indebtedness or obligations of Borrower owing
to Collateral Agent or any Lender under the Loan Documents. Any balance remaining shall be delivered to Borrower or to whoever may be lawfully entitled to receive such balance or as a court of competent jurisdiction may direct. In carrying out the
foregoing, (x) amounts received shall be applied in the numerical order provided until exhausted prior to the application to the next succeeding category, and (y) each of the Persons entitled to receive a payment in any particular category
shall receive an amount equal to its pro rata share of amounts available to be applied pursuant thereto for such category. Any reference in this Agreement to an allocation between or sharing by the Lenders of any right, interest or obligation
“ratably,” “proportionally” or in similar terms shall refer to Pro Rata Share unless expressly provided otherwise. Collateral Agent, or if applicable, each Lender, shall promptly remit to the other Lenders such sums as may be
necessary to ensure the ratable repayment of each Lender’s portion of any Term Loan and the ratable 

  
 19 

 
distribution of interest, fees and reimbursements paid or made by Borrower. Notwithstanding the foregoing, a Lender receiving a scheduled payment shall not be responsible for determining whether
the other Lenders also received their scheduled payment on such date; provided, however, if it is later determined that a Lender received more than its ratable share of scheduled payments made on any date or dates, then such Lender shall remit to
Collateral Agent or other Lenders such sums as may be necessary to ensure the ratable payment of such scheduled payments, as instructed by Collateral Agent. If any payment or distribution of any kind or character, whether in cash, properties or
securities, shall be received by a Lender in excess of its ratable share, then the portion of such payment or distribution in excess of such Lender’s ratable share shall be received by such Lender in trust for and shall be promptly paid over to
the other Lender for application to the payments of amounts due on the other Lenders’ claims. To the extent any payment for the account of Borrower is required to be returned as a voidable transfer or otherwise, the Lenders shall contribute to
one another as is necessary to ensure that such return of payment is on a pro rata basis. If any Lender shall obtain possession of any Collateral, it shall hold such Collateral for itself and as agent and bailee for Collateral Agent and other
Lenders for purposes of perfecting Collateral Agent’s security interest therein. 
 9.5    Liability for
Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, Collateral Agent and the
Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier,
warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral. 

9.6    No Waiver; Remedies Cumulative. Failure by Collateral Agent or any Lender, at any time or times, to
require strict performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Collateral Agent or any Lender thereafter to demand strict performance and compliance herewith or
therewith. No waiver hereunder shall be effective unless signed by Collateral Agent and the Required Lenders and then is only effective for the specific instance and purpose for which it is given. The rights and remedies of Collateral Agent and the
Lenders under this Agreement and the other Loan Documents are cumulative. Collateral Agent and the Lenders have all rights and remedies provided under the Code, any applicable law, by law, or in equity. The exercise by Collateral Agent or any Lender
of one right or remedy is not an election, and Collateral Agent’s or any Lender’s waiver of any Event of Default is not a continuing waiver. Collateral Agent’s or any Lender’s delay in exercising any remedy is not a waiver,
election, or acquiescence. 
 9.7    Demand Waiver. Borrower waives, to the fullest extent permitted by
law, demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees
held by Collateral Agent or any Lender on which Borrower or any Subsidiary is liable. 
  

	10.	 NOTICES 

All notices, consents, requests, approvals, demands, or other communication (collectively, “Communication”) by any party to
this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first
class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by facsimile or electronic mail transmission; (c) one (1) Business Day after deposit with a reputable overnight
courier with all charges prepaid; or (d) when delivered, if hand delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Any of Collateral
Agent, Lender or Borrower may change its mailing address, facsimile number, or email address by giving the other party written notice thereof in accordance with the terms of this Section 10. 

 

			
	If to Borrower:	  	 VERA THERAPEUTICS, INC.
 8000 Marina Blvd.,
Suite 120
 Brisbane, CA 94005
 Attn: [***]

Fax: [***]
 Email: [***]

  
 20 

 
			
	with a copy (which shall not constitute notice) to:	  	 Cooley LLP
 55 Hudson Yards

New York, NY 10001-2157
 Attn: [***]

Email: [***]

		
	If to Collateral Agent:	  	 OXFORD FINANCE LLC
 115 South Union Street,
Suite 300
 Alexandria, VA 22314
 Attention: [***]

Fax: [***]
 Email: [***]

		
	with a copy (which shall not constitute notice) to:	  	 Barnes & Thornburg LLP
 655 W.
Broadway, Suite 1300
 San Diego, California 92101
 Attn:
[***]
 Email: [***]

  

	11.	 CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER, AND JUDICIAL REFERENCE 

California law governs the Loan Documents without regard to principles of conflicts of law. Borrower, Collateral Agent and each Lender each
submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Collateral Agent or any Lender from bringing suit or
taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Collateral Agent or any Lender. Borrower expressly submits and
consents in advance to such jurisdiction in any action or suit commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby
consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such
summons, complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of this Agreement and that service so made
shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER, COLLATERAL AGENT AND EACH LENDER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE
OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR EACH PARTY TO ENTER INTO THIS
AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR
RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be decided by a
reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California Code of Civil Procedure Section 638
(or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties hereby submit to the jurisdiction of such
court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant
provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed 

  
 21 

 
to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not
been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner
as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery
applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or
appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this
paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating
to the applicability, interpretation, and enforceability of this paragraph. 
  

	12.	 GENERAL PROVISIONS 

12.1    Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted
assigns of each party. Borrower may not transfer, pledge or assign this Agreement or any rights or obligations under it without Collateral Agent’s and each Lender’s prior written consent (which may be granted or withheld in Collateral
Agent’s and each Lender’s discretion, subject to Section 12.6). The Lenders have the right, without the consent of or notice to Borrower, to sell, transfer, assign, pledge, negotiate, or grant participation in (any such sale,
transfer, assignment, negotiation, or grant of a participation, a “Lender Transfer”) all or any part of, or any interest in, the Lenders’ obligations, rights, and benefits under this Agreement and
the other Loan Documents; provided, however, that any such Lender Transfer (other than a transfer, pledge, sale or assignment to an Eligible Assignee) of its obligations, rights, and benefits under this Agreement and the other Loan
Documents shall require the prior written consent of the Required Lenders (such approved assignee, an “Approved Lender”). Borrower and Collateral Agent shall be entitled to continue to deal solely and directly with such
Lender in connection with the interests so assigned until Collateral Agent shall have received and accepted an effective assignment agreement in form satisfactory to Collateral Agent executed, delivered and fully completed by the applicable parties
thereto, and shall have received such other information regarding such Eligible Assignee or Approved Lender as Collateral Agent reasonably shall require. Notwithstanding anything to the contrary contained herein, so long as no Event of Default has
occurred and is continuing, no Lender Transfer (other than a Lender Transfer in connection with (x) assignments by a Lender due to a forced divestiture at the request of any regulatory agency; or (y) upon the occurrence of a default, event
of default or similar occurrence with respect to a Lender’s own financing or securitization transactions) shall be permitted, without Borrower’s consent, to any Person which is an Affiliate or Subsidiary of Borrower, a direct competitor of
Borrower or a vulture hedge fund, each as determined by Collateral Agent. 
 12.2    Indemnification.
Borrower agrees to indemnify, defend and hold Collateral Agent and the Lenders and their respective directors, officers, employees, agents, attorneys, or any other Person affiliated with or representing Collateral Agent or the Lenders (each, an
“Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) asserted by any other party in connection with; related to; following; or arising from, out
of or under, the transactions contemplated by the Loan Documents; and (b) all losses or Lenders’ Expenses incurred, or paid by Indemnified Person in connection with; related to; following; or arising from, out of or under, the transactions
contemplated by the Loan Documents between Collateral Agent, and/or the Lenders and Borrower (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly caused by such Indemnified Person’s gross negligence
or willful misconduct. Borrower hereby further indemnifies, defends and holds each Indemnified Person harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and
disbursements of any kind or nature whatsoever (including the fees and disbursements of counsel for such Indemnified Person) in connection with any investigative, response, remedial, administrative or judicial matter or proceeding, whether or not
such Indemnified Person shall be designated a party thereto and including any such proceeding initiated by or on behalf of Borrower, and the reasonable expenses of investigation by engineers, environmental consultants and similar technical personnel
and any commission, fee or compensation claimed by any broker (other than any broker retained by Collateral Agent or Lenders) asserting any right to payment for the transactions contemplated hereby which may be imposed on, incurred by or asserted
against such Indemnified Person as a result of or in connection with the transactions contemplated hereby and the use or intended use of the proceeds of the loan proceeds except for liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, claims, costs, expenses and disbursements directly caused by such Indemnified Person’s gross negligence or willful misconduct. 

  
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 12.3    Time of Essence. Time is of the essence for the
performance of all Obligations in this Agreement. 
 12.4    Severability of Provisions. Each provision of
this Agreement is severable from every other provision in determining the enforceability of any provision. 

12.5    Correction of Loan Documents. Collateral Agent and the Lenders may correct patent errors and fill in any
blanks in this Agreement and the other Loan Documents consistent with the agreement of the parties; so long as Collateral Agent and the Lenders provide Borrower with written notice of such correction. 

12.6    Amendments in Writing; Integration. (a) No amendment, modification, termination or waiver of
any provision of this Agreement or any other Loan Document, no approval or consent thereunder, or any consent to any departure by Borrower or any of its Subsidiaries therefrom, shall in any event be effective unless the same shall be in writing and
signed by Borrower, Collateral Agent and the Required Lenders provided that: 
 (i)    no such amendment, waiver or
other modification that would have the effect of increasing or reducing a Lender’s Term Loan Commitment or Commitment Percentage shall be effective as to such Lender without such Lender’s written consent; 

(ii)    no such amendment, waiver or modification that would affect the rights and duties of Collateral Agent shall be
effective without Collateral Agent’s written consent or signature; 
 (iii)    no such amendment, waiver or other
modification shall, unless signed by all the Lenders directly affected thereby, (A) reduce the principal of, rate of interest on or any fees with respect to any Term Loan or forgive any principal, interest (other than default interest) or fees
(other than late charges) with respect to any Term Loan (B) postpone the date fixed for, or waive, any payment of principal of any Term Loan or of interest on any Term Loan (other than default interest) or any fees provided for hereunder (other
than late charges or for any termination of any commitment); (C) change the definition of the term “Required Lenders” or the percentage of Lenders which shall be required for the Lenders to take any action hereunder;
(D) release all or substantially all of any material portion of the Collateral, authorize Borrower to sell or otherwise dispose of all or substantially all or any material portion of the Collateral or release any Guarantor of all or any portion
of the Obligations or its guaranty obligations with respect thereto, except, in each case with respect to this clause (D), as otherwise may be expressly permitted under this Agreement or the other Loan Documents (including in connection with any
disposition permitted hereunder); (E) amend, waive or otherwise modify this Section 12.6 or the definitions of the terms used in this Section 12.6 insofar as the definitions affect the substance of this Section 12.6; (F) consent to
the assignment, delegation or other transfer by Borrower of any of its rights and obligations under any Loan Document or release Borrower of its payment obligations under any Loan Document, except, in each case with respect to this clause (F),
pursuant to a merger or consolidation permitted pursuant to this Agreement; (G) amend any of the provisions of Section 9.4 or amend any of the definitions of Pro Rata Share, Term Loan Commitment, Commitment Percentage or that provide for
the Lenders to receive their Pro Rata Shares of any fees, payments, setoffs or proceeds of Collateral hereunder; (H) subordinate the Liens granted in favor of Collateral Agent securing the Obligations; or (I) amend any of the provisions of
Section 12.10. It is hereby understood and agreed that all Lenders shall be deemed directly affected by an amendment, waiver or other modification of the type described in the preceding clauses (C), (D), (E), (F), (G) and (H) of the
preceding sentence; 
 (iv)    the provisions of the foregoing clauses (i), (ii) and (iii) are subject to the
provisions of any interlender or agency agreement among the Lenders and Collateral Agent pursuant to which any Lender may agree to give its consent in connection with any amendment, waiver or modification of the Loan Documents only in the event of
the unanimous agreement of all Lenders. 
 (b)    Other than as expressly provided for in Section 12.6(a)(i)-(iii), Collateral Agent may, if requested by the Required Lenders, from time to time designate covenants in this Agreement less restrictive by notification to a representative of
Borrower. 

  
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 (c)    This Agreement and the Loan Documents represent the entire
agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan
Documents merge into this Agreement and the Loan Documents. 
 12.7    Counterparts. This Agreement may be
executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

12.8    Survival. All covenants, representations and warranties made in this Agreement continue in full
force and effect until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been
satisfied. The obligation of Borrower in Section 12.2 to indemnify each Lender and Collateral Agent, as well as the confidentiality provisions in Section 12.9 below, shall survive until the statute of limitations with respect to such claim
or cause of action shall have run. 
 12.9    Confidentiality. In handling any confidential information of
Borrower, the Lenders and Collateral Agent shall exercise the same degree of care that it exercises for their own proprietary information, but disclosure of information may be made: (a) subject to the terms and conditions of this Agreement, to
the Lenders’ and Collateral Agent’s Subsidiaries or Affiliates, or in connection with a Lender’s own financing or securitization transactions and upon the occurrence of a default, event of default or similar occurrence with respect to
such financing or securitization transaction; (b) to prospective transferees (other than those identified in (a) above) or purchasers of any interest in the Credit Extensions (provided, however, the Lenders and Collateral Agent shall,
except upon the occurrence and during the continuance of an Event of Default, obtain such prospective transferee’s or purchaser’s agreement to the terms of this provision or to similar confidentiality terms); (c) as required by law,
regulation, subpoena, or other order; (d) to Lenders’ or Collateral Agent’s regulators or as otherwise required in connection with an examination or audit; (e) as Collateral Agent reasonably considers appropriate in exercising
remedies under the Loan Documents; and (f) to third party service providers of the Lenders and/or Collateral Agent so long as such service providers have executed a confidentiality agreement with the Lenders and Collateral Agent with terms no
less restrictive than those contained herein. Confidential information does not include information that either: (i) is in the public domain or in the Lenders’ and/or Collateral Agent’s possession when disclosed to the Lenders and/or
Collateral Agent, or becomes part of the public domain after disclosure to the Lenders and/or Collateral Agent; or (ii) is disclosed to the Lenders and/or Collateral Agent by a third party, if the Lenders and/or Collateral Agent does not know
that the third party is prohibited from disclosing the information. Collateral Agent and the Lenders may use confidential information for any purpose, including, without limitation, for the development of client databases, reporting purposes, and
market analysis. The provisions of the immediately preceding sentence shall survive the termination of this Agreement. The agreements provided under this Section 12.9 supersede all prior agreements, understanding, representations, warranties,
and negotiations between the parties about the subject matter of this Section 12.9. 
 12.10    Public
Announcement. Notwithstanding anything else herein to the contrary, Borrower hereby agrees that Collateral Agent and each Lender may make a public announcement of the transactions contemplated by this Agreement, and may publicize the same on its
company website, in marketing materials, newspapers and other publications, and otherwise, and in connection therewith may use Borrower’s name, tradenames, logos, and any information related to the transactions to the extent such information is
not confidential. 
 12.11    Right of Set Off. Borrower hereby grants to Collateral Agent and to each
Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or
hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time
after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though
unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO
EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 

  
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 12.12    Cooperation of Borrower. If necessary, Borrower
agrees to (i) execute any documents (including new Secured Promissory Notes) reasonably required to effectuate and acknowledge each assignment of a Term Loan Commitment or Term Loan to an assignee in accordance with Section 12.1, (ii) make
Borrower’s management available to meet with Collateral Agent and prospective participants and assignees of Term Loan Commitments or Credit Extensions (which meetings shall be conducted no more often than twice every twelve months unless an
Event of Default has occurred and is continuing), and (iii) assist Collateral Agent or the Lenders in the preparation of information relating to the financial affairs of Borrower as any prospective participant or assignee of a Term Loan
Commitment or Term Loan reasonably may request, provided that, unless an Event of Default has occurred or is continuing, such prospective participant or assignee is not a direct competitor of Borrower as reasonably determined by Collateral Agent.
Subject to the provisions of Section 12.9, Borrower authorizes each Lender to disclose to any prospective participant or assignee of a Term Loan Commitment, any and all information in such Lender’s possession concerning Borrower and its
financial affairs which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement, or which has been delivered to such Lender by or on behalf of Borrower in connection with such Lender’s credit evaluation of
Borrower prior to entering into this Agreement; provided that, unless an Event of Default has occurred or is continuing, such prospective participant or assignee is not a direct competitor of Borrower as reasonably determined by Collateral Agent.

  

	13.	 DEFINITIONS 

13.1    Definitions. As used in this Agreement, the following terms have the following meanings: 

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made, and
includes, without limitation, all accounts receivable and other sums owing to Borrower. 
 “Account Debtor” is any
“account debtor” as defined in the Code with such additions to such term as may hereafter be made. 
 “Affiliate”
of any Person is a Person that owns or controls directly or indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners
and, for any Person that is a limited liability company, that Person’s managers and members. 
 “Agreement” is defined
in the preamble hereof. 
 “Amortization Date” is, January 1, 2026; provided that, if Borrower achieves the Atacicept
Milestone, then, upon Borrower’s written request to Collateral Agent therefor within thirty (30) days of the later of (i) achievement of the Atacicept Milestone and (ii) March 31, 2023, “Amortization Date”
shall be January 1, 2027. 
 “Annual Projections” is defined in Section 6.2(a). 

“Anti-Terrorism Laws” are any laws relating to terrorism or money laundering,
including Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by OFAC. 

“Approved Fund” is any (i) investment company, fund, trust, securitization vehicle or conduit that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business or (ii) any Person (other than a natural person) which temporarily warehouses loans for
any Lender or any entity described in the preceding clause (i) and that, with respect to each of the preceding clauses (i) and (ii), is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) a Person
(other than a natural person) or an Affiliate of a Person (other than a natural person) that administers or manages a Lender. 

  
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 “Approved Lender” is defined in Section 12.1. 

“Atacicept Milestone” means Borrower has achieved, on or before December 31, 2025, either (i) positive Phase 2b
data of atacicept in IgA Nephropathy or (ii) positive pivotal trial data of atacicept in Lupus Nephritis; written evidence of which, in form and content reasonably acceptable to Collateral Agent, has been reviewed and approved by Collateral
Agent. 
 “Basic Rate” is the per annum rate of interest (based on a year of three hundred sixty (360) days) equal to
the greater of (i) eight and one quarter percent (8.25%) and (ii) the sum of (a) the greater of (x) the thirty (30) day U.S. LIBOR rate reported in the Wall Street Journal on the last Business Day of the month that
immediately precedes the month in which the interest will accrue, and (y) nine-hundredths of one percent (0.09%), plus (b) eight and sixteen one-hundredths percent (8.16%). Notwithstanding the
foregoing, the Basic Rate for the Term Loan for the period from the Effective Date through and including December 31, 2021, shall be eight and eight and two hundred fifty-four thousandths of one percent (8.254%). Notwithstanding anything to the
contrary herein or in any other Loan Document, upon the occurrence of a LIBOR Transition Event, Collateral Agent may amend this Agreement to replace the Basic Rate with a LIBOR Replacement Rate. Any such amendment with respect to a LIBOR Transition
Event will become effective at 5:00 p.m. (Eastern Standard Time) on the third Business Day after Collateral Agent has notified Borrower of such amendment. Any determination, decision or election that may be made by Collateral Agent pursuant hereto
will be conclusive and binding absent manifest error and may be made in Collateral Agent’s sole discretion and without consent from any other party. 

“Blocked Person” is any Person: (a) listed in the annex to, or is otherwise subject to the provisions of,
Executive Order No. 13224, (b) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (c) a Person with
which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports
“terrorism” as defined in Executive Order No. 13224, or (e) a Person that is named a “specially designated national” or “blocked person” on the most current list published by OFAC or other similar list. 

“Borrower” is defined in the preamble hereof. 

“Borrower’s Books” are Borrower’s or any of its Subsidiaries’ books and records including ledgers, federal,
and state Tax returns, records regarding Borrower’s or its Subsidiaries’ assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information.

 “Business Day” is any day that is not a Saturday, Sunday or a day on which Collateral Agent is closed. 

“Cash Equivalents” are (a) marketable direct obligations issued or unconditionally guaranteed by the United States or
any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either
Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., and (c) certificates of deposit maturing no more than one (1) year after issue provided that the account in which any such certificate of deposit is
maintained is subject to a Control Agreement in favor of Collateral Agent. For the avoidance of doubt, the direct purchase by Borrower or any of its Subsidiaries of any Auction Rate Securities, or purchasing participations in, or entering into any
type of swap or other derivative transaction, or otherwise holding or engaging in any ownership interest in any type of Auction Rate Security by Borrower or any of its Subsidiaries shall be conclusively determined by the Lenders as an ineligible
Cash Equivalent, and any such transaction shall expressly violate each other provision of this Agreement governing Permitted Investments. Notwithstanding the foregoing, Cash Equivalents does not include and Borrower, and each of its Subsidiaries,
are prohibited from purchasing, purchasing participations in, entering into any type of swap or other equivalent derivative transaction, or otherwise holding or engaging in any ownership interest in any type of debt instrument, including, without
limitation, any corporate or municipal bonds with a long-term nominal maturity for which the interest rate is reset through a dutch auction and more commonly referred to as an auction rate security
(each, an “Auction Rate Security”). 
 “Claims” are defined in Section 12.2. 

  
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 “Code” is the Uniform Commercial Code, as the same may, from time to time,
be enacted and in effect in the State of California; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the
definition of such term contained in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to,
Collateral Agent’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in
such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

“Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account, or any other bank account maintained
by Borrower or any Subsidiary at any time, other than Excluded Accounts. 
 “Collateral Agent” is, Oxford, not in its
individual capacity, but solely in its capacity as agent on behalf of and for the benefit of the Lenders. 
 “Commitment
Percentage” is set forth in Schedule 1.1, as amended from time to time. 
 “Commodity
Account” is any “commodity account” as defined in the Code with such additions to such term as may hereafter be made. 

“Communication” is defined in Section 10. 

“Compliance Certificate” is that certain certificate in the form attached hereto as Exhibit C. 

“Contingent Obligation” is, for any Person, any direct or indirect liability, contingent or not, of that Person for
(a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that
Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement,
interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include
endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably
anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which Borrower or any of its
Subsidiaries maintains a Deposit Account or the securities intermediary or commodity intermediary at which Borrower or any of its Subsidiaries maintains a Securities Account or a Commodity Account, Borrower and such Subsidiary, and Collateral Agent
pursuant to which Collateral Agent obtains control (within the meaning of the Code) for the benefit of the Lenders over such Deposit Account, Securities Account, or Commodity Account. 

“Copyrights” are any and all copyright rights, copyright applications, copyright registrations and like protections in each
work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Credit Extension” is any Term Loan or any other extension of credit by Collateral Agent or Lenders for Borrower’s
benefit. 
 “Default Rate” is defined in Section 2.3(b). 

  
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 “Deposit Account” is any “deposit account” as defined in the Code
with such additions to such term as may hereafter be made. 
 “Designated Deposit Account” is Borrower’s deposit
account, account number 3301503616, maintained with Silicon Valley Bank. 
 “Disbursement Letter” is that certain form
attached hereto as Exhibit B. 
 “Dollars,” “dollars” and “$” each mean
lawful money of the United States. 
 “Effective Date” is defined in the preamble of this Agreement. 

“Effective Date Loan” is defined in Section 2.2(a)(i). 

“Eligible Assignee” is (i) a Lender, (ii) an Affiliate of a Lender, (iii) an Approved Fund and (iv) any
commercial bank, savings and loan association or savings bank or any other entity which is an “accredited investor” (as defined in Regulation D under the Securities Act of 1933, as amended) and which extends credit or buys loans as one of
its businesses, including insurance companies, mutual funds, lease financing companies and commercial finance companies, in each case, which either (A) has a rating of BBB or higher from Standard & Poor’s Rating Group and a rating
of Baa2 or higher from Moody’s Investors Service, Inc. at the date that it becomes a Lender or (B) has total assets in excess of Five Billion Dollars ($5,000,000,000.00), and in each case of clauses (i) through (iv), which, through
its applicable lending office, is capable of lending to Borrower without the imposition of any withholding or similar taxes; provided that notwithstanding the foregoing, “Eligible Assignee” shall not include, unless an Event of Default has
occurred and is continuing, (i) Borrower or any of Borrower’s Affiliates or Subsidiaries or (ii) a direct competitor of Borrower or a vulture hedge fund, each as determined by Collateral Agent. Notwithstanding the foregoing,
(x) in connection with assignments by a Lender due to a forced divestiture at the request of any regulatory agency, the restrictions set forth herein shall not apply and Eligible Assignee shall mean any Person or party and (y) in
connection with a Lender’s own financing or securitization transactions, the restrictions set forth herein shall not apply and Eligible Assignee shall mean any Person or party providing such financing or formed to undertake such securitization
transaction and any transferee of such Person or party upon the occurrence of a default, event of default or similar occurrence with respect to such financing or securitization transaction; provided that no such sale, transfer, pledge or assignment
under this clause (y) shall release such Lender from any of its obligations hereunder or substitute any such Person or party for such Lender as a party hereto until Collateral Agent shall have received and accepted an effective assignment
agreement from such Person or party in form satisfactory to Collateral Agent executed, delivered and fully completed by the applicable parties thereto, and shall have received such other information regarding such Eligible Assignee as Collateral
Agent reasonably shall require. 
 “Equipment” is all “equipment” as defined in the Code with such additions to
such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“ERISA” is the Employee Retirement Income Security Act of 1974, as amended, and its regulations. 

“Event of Default” is defined in Section 8. 

“Excluded Accounts” are deposit accounts (a) exclusively used for payroll, payroll Taxes and other employee wage and
benefit payments to or for the benefit of Borrower’s, or any of its Subsidiaries’, employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates or (b) subject to a Lien permitted pursuant to clause
(b), (h) or (i) of the definition of Permitted Liens. 
 “Federal Reserve Bank of New York’s Website” means the
website of the Federal Reserve Bank of New York at http://www.newyorkfed.org, or any successor source. 
 “Final Payment”
is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any

  
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Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment
Percentage, payable to Lenders in accordance with their respective Pro Rata Shares. 
 “Final Payment Percentage” is five
percent (5.00%); provided that, if the Amortization Date is extended to January 1, 2027, then “Final Payment Percentage” shall mean seven percent (7.00%). 

“Foreign Subsidiary” is a Subsidiary that is not an entity organized under the laws of the United States or any territory
thereof. 
 “Funding Date” is any date on which a Credit Extension is made to or on account of Borrower which shall be a
Business Day. 
 “GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant
segment of the accounting profession in the United States, which are applicable to the circumstances as of the date of determination. 

“General Intangibles” are all “general intangibles” as defined in the Code in effect on the date hereof with such
additions to such term as may hereafter be made, and includes without limitation, all copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or
unpublished, any patents, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor, whether registered or not, any trade secret rights, including any rights to unpatented inventions, payment intangibles,
royalties, contract rights, goodwill, franchise agreements, purchase orders, customer lists, route lists, telephone numbers, domain names, claims, income and other tax refunds, security and other deposits, options to purchase or sell real or
personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of
insurance and rights to payment of any kind. 
 “Governmental Approval” is any consent, authorization, approval, order,
license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any self-regulatory organization. 
 “Guarantor” is any Person providing a Guaranty in favor
of Collateral Agent. 
 “Guaranty” is any guarantee of all or any part of the Obligations, as the same may from time to
time be amended, restated, modified or otherwise supplemented. 
 “Indebtedness” is (a) indebtedness for borrowed
money or the deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease
obligations, and (d) Contingent Obligations. 
 “Indemnified Person” is defined in Section 12.2. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other
bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Insolvent” means not Solvent. 

  
 29 

 “Intellectual Property” means all of Borrower’s or any
Subsidiary’s right, title and interest in and to the following: 
 (a)    its Copyrights, Trademarks and Patents;

 (b)    any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented
inventions, know-how, operating manuals; 
 (c)    any and all source code; 

(d)    any and all design rights which may be available to Borrower; 

(e)    any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the
right, but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 

(f)    all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term
as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of
any Person’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities),
and any loan, advance, or capital contribution to any Person. 
 “IRC” means the U.S. Internal Revenue Code of 1986, as
amended. 
 “Key Person” is each of Borrower’s (i) Chief Executive Officer, who is Marshall Fordyce, MD as of the
Effective Date, (ii) Chief Financial Officer, who is Sean Grant as of the Effective Date and (iii) Chief Medical Officer, who is Celia Lin, MD as of the Effective Date. 

“Lender” is any one of the Lenders. 

“Lenders” are the Persons identified on Schedule 1.1 hereto and each assignee that becomes a party
to this Agreement pursuant to Section 12.1. 
 “Lenders’ Expenses” are all reasonable, documented out-of-pocket audit fees and expenses, costs, and expenses (including reasonable and documented attorneys’ fees and expenses, as well as appraisal fees, fees incurred on
account of lien searches, inspection fees, and filing fees) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency
Proceedings) or otherwise incurred by Collateral Agent and/or the Lenders in connection with the Loan Documents. 
 “LIBOR
Replacement Rate” means the sum of: (a) the alternate benchmark rate (which may include SOFR) that has been selected by Collateral Agent giving due consideration to (i) any selection or recommendation of a
replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to the LIBOR rate for U.S.
dollar-denominated syndicated credit facilities and (b) the LIBOR Replacement Spread; provided that, if the LIBOR Replacement Rate as so determined would be less than zero, the LIBOR Replacement Rate will be deemed to be zero
for the purposes of this Agreement. 
 “LIBOR Replacement Spread” means, with respect to any replacement
of the Basic Rate, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative 

  
 30 

 
value or zero) that has been selected by Collateral Agent giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of the LIBOR rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of the LIBOR rate for U.S. dollar-denominated syndicated credit facilities at such time. 

“LIBOR Transition Event” means the occurrence of one or more of the following events with respect to
the LIBOR rate: 
 (1)    a public statement or publication of information by or on behalf of the administrator of
the LIBOR rate announcing that such administrator has ceased or will cease to provide the LIBOR rate, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will
continue to provide the LIBOR rate;
 (2)    a public statement or publication of information by the regulatory
supervisor for the administrator of the LIBOR rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBOR rate, a resolution authority with jurisdiction over the administrator for
the LIBOR rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBOR rate, which states that the administrator of the LIBOR rate has ceased or will cease to provide
the LIBOR rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR rate; or 

(3)    a public statement or publication of information by the regulatory supervisor for the administrator of
the LIBOR rate announcing that the LIBOR rate is no longer representative.
 “Lien” is a claim,
mortgage, deed of trust, levy, charge, pledge, security interest, or other encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 

“Loan Documents” are, collectively, this Agreement, the Perfection Certificates, each Compliance Certificate, each
Disbursement Letter, the Post Closing Letter, any subordination agreements, any note, or notes or guaranties executed by Borrower or any other Person, and any other present or future agreement entered into by Borrower, any Guarantor or any other
Person for the benefit of the Lenders and Collateral Agent in connection with this Agreement; all as amended, restated, or otherwise modified. 

“Material Adverse Change” is (a) a material impairment in the perfection or priority of Collateral Agent’s Lien in
the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations or condition (financial or otherwise) of Borrower or any Subsidiary; or (c) a material impairment of the prospect of repayment of
any portion of the Obligations. 
 “Maturity Date” is (x) December 1, 2026, if the Amortization Date is
January 1, 2026; or (y) December 1, 2027, if the Amortization Date is January 1, 2027. 
 “Obligations”
are all of Borrower’s obligations to pay when due any debts, principal, interest, Lenders’ Expenses, the Prepayment Fee, the Final Payment, and other amounts Borrower owes the Lenders now or later, in connection with, related to,
following, or arising from, out of or under, this Agreement or, the other Loan Documents, or otherwise, and including interest accruing after Insolvency Proceedings begin (whether or not allowed) and debts, liabilities, or obligations of Borrower
assigned to the Lenders and/or Collateral Agent, and the performance of Borrower’s duties under the Loan Documents. 

“OFAC” is the U.S. Department of Treasury Office of Foreign Assets Control. 

“OFAC Lists” are, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to
Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Executive Orders.

  
 31 

 “Operating Documents” are, for any Person, such Person’s formation
documents, as certified by the Secretary of State (or equivalent agency) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days prior to the Effective Date, and, (a) if such Person is a
corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar
agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Patents” means all patents,
patent applications and like protections including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of
the same. 
 “Payment Date” is the first (1st) calendar day of each
calendar month, commencing on February 1, 2022. 
 “Perfection Certificate” and “Perfection
Certificates” is defined in Section 5.1. 
 “Permitted Indebtedness” is: 

(a)    Borrower’s Indebtedness to the Lenders and Collateral Agent under this Agreement and the other Loan Documents;

 (b)    Indebtedness existing on the Effective Date and disclosed on the Perfection Certificate(s); 

(c)    Subordinated Debt; 

(d)    unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 

(e)    Indebtedness consisting of capitalized lease obligations and purchase money Indebtedness, in each case incurred by
Borrower or any of its Subsidiaries to finance the acquisition, repair, improvement or construction of fixed or capital assets of such person, provided that (i) the aggregate outstanding principal amount of all such Indebtedness does not exceed
One Hundred Thousand Dollars ($100,000.00) at any time and (ii) the principal amount of such Indebtedness does not exceed the lower of the cost or fair market value of the property so acquired or built or of such repairs or improvements
financed with such Indebtedness (each measured at the time of such acquisition, repair, improvement or construction is made); furthermore, notwithstanding anything to the contrary herein and strictly for the purposes of this clause (e) of the
definition of Permitted Indebtedness and for no other purpose, any obligations of a Person that are or would have been treated as operating leases or capital leases for purposes of GAAP prior to the issuance by the Financial Accounting Standards
Board on February 25, 2016 of an Accounting Standards Update (the “ASU”) shall continue to be accounted for as operating leases or capital leases (whether or not such operating lease obligations or capital lease obligations, as
applicable, were in effect on such date) notwithstanding the fact that such obligations are required in accordance with the ASU (on a prospective or retroactive basis or otherwise) to be treated as capitalized lease obligations in accordance with
GAAP; 
 (f)    Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of
Borrower’s business; 
 (g)    to the extent constituting Indebtedness, Permitted Investments; 

(h)    reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and
issued on behalf of the Borrower or a Subsidiary thereof for purposes of securing real estate leases in an aggregate principal amount not to exceed One Million Dollars ($1,000,000.00) at any time; 

(i)    Indebtedness in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00) at any time
outstanding in respect of credit cards; 
 (j)    other Indebtedness in an amount not to exceed Two Hundred Fifty
Thousand Dollars ($250,000.00); 

  
 32 

 (k)    to the extent constituting Indebtedness, royalty, milestone and
other contingent obligations arising under license and other arrangements enter into in the ordinary course of business; and 

(l)    extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness
(a) through (k) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose materially more burdensome terms upon Borrower, or its Subsidiary, as the case may be. 

“Permitted Investments” are: 

(a)    Investments disclosed on the Perfection Certificate(s) and existing on the Effective Date; 

(b)    (i) Investments consisting of cash and Cash Equivalents and (ii) any other Investments permitted by
Borrower’s investment policy, as amended from time to time, provided that such investment policy (and any such amendment thereto) has been approved in writing by Collateral Agent; 

(c)    Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of Borrower; 
 (d)    Investments consisting of deposit accounts (x) in which
Collateral Agent has a perfected security interest (y) with respect to which no Control Agreement is required hereunder; 

(e)    Investments in connection with Transfers permitted by Section 7.1; 

(f)    Investments consisting of (i) travel advances and employee relocation loans and other employee loans and
advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by
Borrower’s Board of Directors; not to exceed Fifty Thousand Dollars ($50,000.00) in the aggregate for (i) and (ii) in any fiscal year; 

(g)    Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers
or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(h)    Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and
suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (h) shall not apply to Investments of Borrower in any Subsidiary; 

(i)    Investments in joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting
of the licensing of technology, which licensing is non-exclusive or, if exclusive constitutes a Permitted License, the development of technology or the providing of technical support; provided, that the
aggregate cash portion of all such Investments shall not exceed One Hundred Thousand Dollars ($100,000.00) in any fiscal year; 

(j)    Investments consisting of equity interests received as consideration by Borrower in transactions in the ordinary
course of Borrower’s business; provided that such equity interests shall become Collateral hereunder and shall be pledged to the Collateral Agent; 

(k)    Investments (i) by Borrower in a Subsidiary that is a co-Borrower and
(ii) by Subsidiaries in Borrower or in a Subsidiary that is a co-Borrower; 

(l)    the formation of new Subsidiaries after the Effective Date, subject to compliance with all applicable provisions of
this Agreement, including, without limitation, Section 6.1; and 
 (m)    additional Investments in an amount not
to exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in any fiscal year. 

  
 33 

 “Permitted Licenses” are (A) licenses of over-the-counter software that is commercially available to the public, and (B) non-exclusive and exclusive licenses for the use
of the Intellectual Property of Borrower or any of its Subsidiaries entered into in the ordinary course of business, provided, that, with respect to each such license described in clause (B), (i) no Event of Default has occurred or is
continuing at the time of such license; (ii) the license constitutes an arms-length transaction, the terms of which, on their face, do not provide for a sale or assignment of any Intellectual Property and
do not restrict the ability of Borrower or any of its Subsidiaries, as applicable, to pledge, grant a security interest in or lien on, or assign or otherwise Transfer any Intellectual Property; (iii) in the case of any exclusive license,
(x) Borrower delivers ten (10) days’ prior written notice and a brief summary of the terms of the proposed license to Collateral Agent and the Lenders and delivers to Collateral Agent and the Lenders copies of the final executed
licensing documents in connection with the exclusive license promptly upon consummation thereof, and (y) any such license could not result in a legal transfer of title of the licensed property but may be exclusive in respects other than
territory and may be exclusive as to territory only as to discrete geographical areas outside of the United States; and (iv) all upfront payments, royalties, milestone payments or other proceeds arising from the licensing agreement that are
payable to Borrower or any of its Subsidiaries are paid to a Deposit Account that is governed by a Control Agreement. 
 “Permitted
Liens” are: 
 (a)    Liens existing on the Effective Date and disclosed on the Perfection Certificates or
arising under this Agreement and the other Loan Documents; 
 (b)    Liens for Taxes, fees, assessments or other
government charges or levies, either (i) not due and payable or (ii) being contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under
the IRC, and the Treasury Regulations adopted thereunder; 
 (c)    liens securing Indebtedness permitted under clause
(e) of the definition of “Permitted Indebtedness,” provided that (i) such liens exist prior to the acquisition of, or attach substantially simultaneous with, or within twenty (20) days after the, acquisition, lease,
repair, improvement or construction of, such property financed or leased by such Indebtedness and (ii) such liens do not extend to any property of Borrower other than the property (and proceeds thereof) acquired, leased or built, or the
improvements or repairs, financed by such Indebtedness; 
 (d)    Liens of carriers, warehousemen, suppliers, or other
Persons that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00), and which
are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(e)    Liens to secure payment of workers’ compensation, employment insurance,
old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(f)    Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in
(a) through (c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 

(g)    leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring
to another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the
ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Collateral Agent or any Lender a
security interest therein; 
 (h)    banker’s liens, rights of setoff and Liens in favor of financial institutions
incurred in the ordinary course of business arising in connection with Borrower’s deposit accounts or securities accounts held at such institutions solely to secure payment of fees and similar costs and expenses and provided such accounts are
maintained in compliance with Section 6.6(b) hereof; 

  
 34 

 (i)    Liens arising from judgments, decrees or attachments in
circumstances not constituting an Event of Default under Section 8.4 or 8.7; 
 (j)    Liens consisting of
Permitted Licenses; 
 (k)    Liens in favor of customs and revenue authorities arising as a matter of law to secure
payment of custom duties that are promptly paid on or before the date they become due; and 
 (l)    Liens on cash or
cash equivalents securing obligations permitted under clause (h) or (i) of the definition of Permitted Indebtedness. 

“Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust,
unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Post Closing Letter” is that certain Post Closing Letter dated as of the Effective Date by and between Collateral Agent and
Borrower. 
 “Prepayment Fee” is, with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether
by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to: 

(i)    for a prepayment made on or after the Funding Date of such Term Loan through and including the first anniversary
of the Funding Date of such Term Loan, three percent (3.00%) of the principal amount of such Term Loan prepaid; 

(ii)    for a prepayment made after the date which is after the first anniversary of the Funding Date of such Term Loan
through and including the second anniversary of the Funding Date of such Term Loan, two percent (2.00%) of the principal amount of the Term Loans prepaid; and 

(iii)    for a prepayment made after the second anniversary of the Funding Date of such Term Loan and prior to the
Maturity Date, no Prepayment Fee shall be applicable. 
 “Pro Rata Share” is, as of any date of determination, with respect
to each Lender, a percentage (expressed as a decimal, rounded to the ninth decimal place) determined by dividing the outstanding principal amount of Term Loans held by such Lender by the aggregate outstanding principal amount of all Term Loans. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such term
as may hereafter be made. 
 “Relevant Governmental Body” means the Federal Reserve Board and/or the
Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

“Required Lenders” means (i) for so long as all of the Persons that are Lenders on the Effective Date (each an
“Original Lender”) have not assigned or transferred any of their interests in their Term Loan, Lenders holding one hundred percent (100%) of the aggregate outstanding principal balance of the Term Loan, or (ii) at any time from
and after any Original Lender has assigned or transferred any interest in its Term Loan, Lenders holding at least sixty six percent (66%) of the aggregate outstanding principal balance of the Term Loan and, in respect of this clause (ii), (A) each
Original Lender that has not assigned or transferred any portion of its Term Loan, (B) each assignee or transferee of an Original Lender’s interest in the Term Loan, but only to the extent that such assignee or transferee is an Affiliate
or Approved Fund of such Original Lender, and (C) any Person providing financing to any Person described in clauses (A) and (B) above; provided, however, that this clause (C) shall only apply upon the occurrence of a default, event of
default or similar occurrence with respect to such financing. 

  
 35 

 “Requirement of Law” is as to any Person, the organizational or governing
documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to
which such Person or any of its property is subject. 
 “Responsible Officer” is any of the President, Chief Executive
Officer, or Chief Financial Officer of Borrower acting alone. 
 “Second Draw Period” is the period commencing on
January 3, 2022 and ending on the earlier of (i) December 31, 2022 and (ii) the occurrence of an Event of Default (which has not been waived by Collateral Agent and the Lenders in their sole discretion or otherwise cured by
Borrower as expressly permitted in accordance with this Agreement); provided, however, that the Second Draw Period shall not commence if an Event of Default has occurred and is continuing. 

“Secured Promissory Note” is defined in Section 2.4. 

“Secured Promissory Note Record” is a record maintained by each Lender with respect to the outstanding Obligations owed by
Borrower to Lender and credits made thereto. 
 “Securities Account” is any “securities account” as defined in
the Code with such additions to such term as may hereafter be made. 
 “Shares” is one hundred percent (100%) of the issued
and outstanding capital stock, membership units or other securities owned or held of record by Borrower or Borrower’s Subsidiary, in any Subsidiary; provided that, in the event Borrower, demonstrates to Collateral Agent’s reasonable
satisfaction, that any Foreign Subsidiary does not satisfy the holding period requirement pursuant to Section 245A and Section 246(c)(5) of the IRC, “Shares” shall mean sixty-five percent
(65%) of the issued and outstanding capital stock, membership units or other securities owned or held of record by Borrower or its Subsidiary in such Foreign Subsidiary. 

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the
Federal Reserve Bank of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website. 

“Solvent” is, with respect to any Person: the fair salable value of such Person’s consolidated assets (including
goodwill minus disposition costs) exceeds the fair value of such Person’s liabilities; such Person is not left with unreasonably small capital after the transactions in this Agreement; and such Person is able to pay its debts (including trade
debts) as they mature. 
 “Subordinated Debt” is indebtedness incurred by Borrower or any of its Subsidiaries subordinated
to all Indebtedness of Borrower and/or its Subsidiaries to the Lenders (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Collateral Agent and the Lenders entered into between Collateral
Agent, Borrower, and/or any of its Subsidiaries, and the other creditor), on terms acceptable to Collateral Agent and the Lenders. 

“Subsidiary” is, with respect to any Person, any Person of which more than fifty percent (50%) of the voting stock or other
equity interests (in the case of Persons other than corporations) is owned or controlled, directly or indirectly, by such Person or through one or more intermediaries. 

“Tax” or “Taxes” means Taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other
charges imposed by any governmental authority (including any interest, additions to Tax or penalties applicable thereto). 

  
 36 

 “Term A Loan” is defined in Section 2.2(a)(i) hereof. 

“Term B Loan” is defined in Section 2.2(a)(ii) hereof. 

“Term Loan” is defined in Section 2.2(a)(ii) hereof. 

“Term Loan Commitment” is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount
shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders. 

“Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 

[Balance of Page Intentionally Left Blank] 

  
 37 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the Effective Date. 
  

			
	BORROWER:
	
	VERA THERAPEUTICS, INC.
		
	By	 	 /s/ Marshall Fordyce

	Name:	 	Marshall Fordyce
	Title:	 	Chief Executive officer
	
	COLLATERAL AGENT AND LENDER:
	
	OXFORD FINANCE LLC
		
	By	 	 /s/ Colette H. Featherly

	Name:	 	Colette H. Featherly
	Title:	 	Senior Vice President

  

[Signature Page to Loan and Security Agreement] 

 SCHEDULE 1.1 

Lenders and Commitments 

Term A Loans 

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 OXFORD FINANCE LLC
	  	$	30,000,000.00	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	30,000,000.00	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	
	 Term B Loans
	  

	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 OXFORD FINANCE LLC
	  	$	20,000,000.00	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	20,000,000.00	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	
	
Aggregate (all Term Loans)
	  

	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 OXFORD FINANCE LLC
	  	$	50,000,000.00	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	50,000,000.00	 	  	 	100.00	%EX-10.15

 Exhibit 10.15 

Certain identified information has been excluded from this exhibit because it is both not material and is the type that the registrant
treats as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”. 

Execution Copy 
 ASSET
PURCHASE AGREEMENT 
 This Asset Purchase Agreement (the “Agreement”) is made and entered into as of December 16,
2021 between Amplyx Pharmaceuticals, Inc., a Delaware corporation (the “Seller”), and Vera Therapeutics, Inc., a Delaware corporation (the “Buyer”). 

WHEREAS, on April 27, 2021 (the “Merger Date”) Seller became a wholly-owned subsidiary of Pfizer Inc.
(“Pfizer”) pursuant to an Agreement and Plan of Merger, dated April 12, 2001, among Pfizer, Appaloosa Merger Sub Inc. and the Seller (the “Pfizer-Amplyx Agreement”); 

WHEREAS, Seller is developing an anti-BKV monoclonal antibody referred to as “MAU868” for
the treatment of BKV disease pursuant to a License Agreement, dated August 26, 2019 (the “Novartis License”), between Novartis International Pharmaceutical AG (“Novartis”) and the Seller; and 

WHEREAS, Seller desires to sell to Buyer, and Buyer desires to acquire from Seller, all of Seller’s right, title and interest in and to
certain assets, including intellectual property rights, pertaining to MAU868 on the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and the representations, warranties, covenants and agreements contained herein, the parties
hereto hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND TERMS 

Section 1.1    Definitions. As used in this Agreement, the following terms shall have the meanings set forth
or as referenced below: 
 “Affiliate” shall mean, with respect to any Person, any other Person that directly or
indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person at any time during the period for which the determination of affiliation is being made. For the purposes of this definition, the
word “control” (including, with correlative meaning, the terms “controlled by” or “under the common control with”) shall mean the actual power, either directly or indirectly through one or more intermediaries, to direct
or cause the direction of the management and policies of such Person, whether by the ownership of fifty percent (50%) or more of the voting stock or units of such Person, or by contract or otherwise. 

 “Agreement” shall have the meaning set forth in the preamble. 

“Allocation” shall have the meaning set forth in Section 2.7. 

“Antibody” means (a) the fully human monoclonal antibody referred to as “MAU868” described more fully on
Exhibit A to the Novartis License, (b) the monoclonal antibodies claimed in the patent rights set forth on Exhibit C to the Novartis License, and (c) any [***]. 

“Assignment and Assumption Agreement” shall have the meaning set forth in Exhibit A. 

“Assumed Liabilities” shall have the meaning set forth in Section 2.4. 

“Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banks in New York, New York and San
Francisco, California, United States of America are authorized or obligated by Law or executive order to close. 
 “Buyer”
shall have the meaning set forth in the preamble to this Agreement. 
 “Buyer Material Adverse Effect” shall have the
meaning set forth in Section 4.4. 
 “Closing” shall have the meaning set forth in Section 2.8(a). 

“Closing Date” shall have the meaning set forth in Section 2.8(a). 

“Collateral Source” shall have the meaning set forth in Section 6.6. 

“Confidentiality Agreement” shall mean the Confidentiality Agreement dated as of August 5, 2021, between Pfizer and
Buyer. 
 “European Regulatory Approval” means Regulatory Approval from the European Medicines Agency or any successor
entity thereto or the applicable Governmental Authority in any one of the five major European markets (France, Germany, Italy, Spain or the United Kingdom). 

“Excluded Assets” shall have the meaning set forth in Section 2.3. 

“FDA” shall mean the United States Food and Drug Administration and any successor agency(ies) or authority having
substantially the same function. 
 “First Commercial Sale” means the first sale of a Product to a Third Party for
distribution, use or consumption in such country after the Regulatory Approvals have been obtained for the Product in such country. For clarity, First Commercial Sale shall not include any sale or transfer of any Product prior to receipt of
Regulatory Approval, such as “treatment IND sales,” “named patient sales” and “compassionate use sales.” 

“Governmental Authority” shall mean any supranational, national, federal, state or local judicial, legislative, executive or
regulatory authority. 

  
 2 

 “Governmental Authorizations” shall mean all licenses, permits,
certificates and other authorizations and approvals issued by the relevant Governmental Authority that are required to carry on the research activities conducted by Seller and its Affiliates using the Purchased Assets as of the date of this
Agreement under the applicable Laws. 
 “Governmental Order” shall mean any order, writ, judgment, injunction, decree,
stipulation, determination or award entered by or with any Governmental Authority. 
 “Income Taxes” mean the United States
federal income Tax and any state, local or non-U.S. net income Tax or any franchise or business Tax incurred in lieu of a Tax on net income. 

“Indemnified Party” shall have the meaning set forth in Section 6.3. 

“Indemnifying Party” shall have the meaning set forth in Section 6.3. 

“Indication” shall have the meaning set forth in Novartis License. 

“Intellectual Property Rights” shall mean and include all rights of the following types, which may exist or be created under
the laws of any jurisdiction in the world: (i) rights associated with works of authorship, including exclusive exploitation rights, copyrights, moral rights, and mask works; (ii) trademark and trade name rights and similar rights;
(iii) trade secret rights; (iv) Patents and industrial property rights; (v) other proprietary rights in intellectual property of every kind and nature; and (vi) all registrations, renewals, extensions, continuations, divisions,
or reissues of, and applications for, any of the rights referred to in clauses (i) through (vi) above. 
 “Law” shall
mean any federal, state, foreign or local law, common law, statute, ordinance, rule, regulation, code or Governmental Order. 

“Liabilities” shall mean any debts, liabilities or obligations, whether accrued or fixed, known or unknown, absolute or
contingent, matured or unmatured or determined or determinable. 
 “Lien” shall mean any lien, security interest, mortgage,
charge or similar encumbrance. 
 “Loss” or “Losses” shall have the meaning set forth in
Section 6.1(a). 
 “Merger Date” shall have the meaning set forth in the recitals. 

“Net Sales” shall have the meaning set forth in the Novartis License. 

“Novartis” shall have the meaning set forth in the recitals. 

“Novartis License” shall have the meaning set forth in the recitals. 

  
 3 

 “Patent Assignment Agreement” shall have the meaning set forth in Exhibit
A. 
 “Patents” shall mean (a) all national, regional and international patents and patent applications, including
provisional patent applications and any and all rights to claim priority thereto; (b) all patent applications filed either from such patents, patent applications, or provisional applications or from an application claiming priority from either
of these, including divisionals, continuations, continuations-in-part, provisionals, converted provisionals, and continued prosecution applications; (c) any and all
patents that have issued or in the future issue from the foregoing patent applications ((a) and (b)), including utility models, petty patents, and design patents and certificates of invention; (d) any and all extensions or restorations by
existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations, and extensions (including any supplementary protection certificates and the like) of the foregoing
patents or patent applications or other patents resulting from post-grant proceedings ((a), (b), and (c)); and (e) any similar patent rights, including so-called pipeline protection or any importation,
revalidation, confirmation, or introduction patent or registration patent or patent of additions to any of such foregoing patent applications and patents. 

“Permitted Encumbrances” shall mean (a) all Liens [***]; or (b) such Liens and other imperfections of title [***].

 “Person” shall mean any individual, firm, corporation, partnership, limited liability company, trust, joint venture,
Governmental Authority or other legal entity or organization. 
 “Pfizer” shall have the meaning set forth in the recitals.

 “Pfizer-Amplyx Agreement” shall have the meaning set forth in the recitals. 

“Product” means any product in any dosage strength or formulation containing, incorporating or comprising an Antibody, either
alone or in combination with other agents. 
 “Purchased Assets” shall have the meaning set forth in Section 2.1, it
being understood that the Purchased Assets do not include the Excluded Assets. 
 “Regulatory Approval” shall have the
meaning set forth in Novartis License. 
 “Required Third Party Consent” shall have the meaning set forth in
Section 2.2(a). 
 “Retained Liabilities” shall have the meaning set forth in Section 2.5. 

“Royalty Term” shall have the meaning set forth in the Novartis License. 

“Seller” shall have the meaning set forth in the preamble to this Agreement. 

  
 4 

 “Seller Material Adverse Effect” shall mean any change, effect, event,
circumstance, occurrence or state of facts that, individually or in the aggregate, would be reasonably likely to (a) be materially adverse to the ability of the Seller to perform its obligations hereunder, (b) materially impair the value
or the use of the Antibody and Purchased Assets, or (c) prevent, materially impede or delay the consummation of the transactions contemplated hereby other than any change, effect, event, circumstance, occurrence or state of facts relating to
(i) the economy or financial markets in general, (ii) the consummation of the transactions as contemplated by this Agreement, (iii) [***], (iv) [***], (v) [***], and (vi) [***]. 

“Tax” or “Taxes” means any federal, state, local and non-U.S. taxes,
including without limitation, income, gross receipts, capital stock, franchise, profits, withholding, social security, unemployment, disability, real property, ad valorem/personal property, stamp, excise, occupation, sales, use, transfer, value
added, alternative minimum, estimated, license, severance, registration, natural resources, environmental, customs duties, escheat, fringe benefits, goods and services, intangible, inventory, land, recording, rent, windfall profits, capital gains,
capital stock, franchise, payroll, employment, property, add-on minimum, and other taxes imposed by a Governmental Authority, including any interest, penalty or addition thereto, whether disputed or not, and
shall include any liability for such amounts as a result of being a member of a combined, consolidated, unitary or affiliated group (including pursuant to Treasury Regulation Section 1.1502-6 or
comparable provisions of state, local or non-U.S. tax law) and including any liability for taxes as a transferee or successor, by contract or otherwise. 

“Tax Action” shall have the meaning set forth in Section 5.4(b). 

“Third Party” shall mean any Person other than Seller, Buyer or an Affiliate of either Seller or Buyer. 

“Third Party Claim” shall have the meaning set forth in Section 6.4(a). 

“VAT” shall have the meaning set forth in Section 5.4(a). 

Section 1.2    Other Definitional Provisions. 

(a)    The words “hereof”, “herein”, “hereto” and
“hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. 

(b)    The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such
terms. 
 (c)    The terms “dollars” and “$” shall mean United States dollars. 

(d)    The term “including” shall mean “including, without limitation” and the words
“included” and “include” shall have corresponding meanings. 

  
 5 

 (e)    When a reference is made in this Agreement to an Article, a
Section, Exhibit or Schedule, such reference shall be to an Article of, a Section of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated. 

(f)    When a reference is made in this Agreement to the terms of the Novartis License, such reference shall be to the
Novartis License as is in effect on the date hereof and not as it may be subsequently amended or changed. 
 ARTICLE II 

PURCHASE AND SALE 

Section 2.1    Purchase and Sale of the Purchased Assets. Upon the terms and subject to the conditions set
forth herein, effective at the Closing, Seller shall sell, convey, assign and transfer, and hereby sells, conveys, assigns and transfers to Buyer, and Buyer shall purchase, acquire and accept, and hereby purchases, acquires and accepts from the
Seller, free and clear of all Liens, other than Permitted Encumbrances, all of the Seller’s right, title and interest in and to the following assets (collectively, the “Purchased Assets”): 

(a)    the investigational new drug application filed with the FDA for authorization for the investigation of the Antibody
listed on Schedule 2.1(a) (“Seller IND”); 
 (b)    the development and regulatory files,
documentation, data, results and other electronic records identified on Schedule 2.1(b) (“Seller Development and Regulatory Documentation”); 

(c)    the contracts to which Seller is a party that are [***], including, in any event, the contracts identified on
Schedule 2.1(c) (“Seller Contracts”); 
 (d)    the Patents listed on Schedule 2.1(d) (“Seller
Patents”); and 
 (e)    the chemical and biological materials listed on Schedule 2.1(e) (“Seller
Product Inventory”). 
 Section 2.2    Consents. 

(a)    Buyer acknowledges and agrees that certain Purchased Assets may not be assignable or transferable without the
consent of a Third Party (each, a “Required Third Party Consent”), and, at or prior to the Closing Date, such consents have not been obtained. After the Closing Date, Seller will [***] to obtain those Required Third Party Consents
[***]; provided, however, that [***]. Upon obtaining the Required Third Party Consent such Purchased Asset shall be transferred and assigned to, and assumed by, Buyer hereunder. 

(b)    With respect to any Purchased Asset that is subject to a Required Third Party Consent that has not been obtained
pursuant to Section 2.2(a), after the Closing and [***] (i) [***] and (ii) [***], the parties hereto shall [***]. 

  
 6 

 (c)    Buyer agrees that [***]. Buyer further agrees that [***]. 

Section 2.3    Excluded Assets. Notwithstanding any provision in this Agreement, Buyer is not purchasing any
asset that is not expressly identified on Schedule 2.1 (the “Excluded Assets”) including: 

(a)    [***]; 

(b)    [***]; and 

(c)    [***]. 

Section 2.4    Assumption of Certain Liabilities. Upon the terms and subject to the conditions of this
Agreement, Buyer agrees, effective at the Closing, to assume all Liabilities of the Seller and its Affiliates, of any kind, character or description, whether accrued, absolute, contingent or otherwise, [***] (other than Retained Liabilities), to the
extent (but only to the extent) arising out of or relating to the Purchased Assets (collectively, the “Assumed Liabilities”). 

Section 2.5    Retained Liabilities. Notwithstanding any provision in this Agreement, Seller and its
Affiliates shall retain and be responsible for the following (collectively, the “Retained Liabilities”): 

(a)    the Liabilities of Seller set forth on Schedule 2.5(a); 

(b)    all Liabilities of Seller, or any member of any consolidated, affiliated, combined or unitary group of which Seller
is or has been a member, for Income Taxes attributable to taxable periods, or portions thereof, ending on or before the Closing Date; 

(c)    all Liabilities for which Seller or its Affiliates expressly has responsibility pursuant to the terms of this
Agreement; and 
 (d)    all Liabilities to the extent arising out of or relating to Excluded Assets. 

Section 2.6    Consideration. 

(a)    Upfront Payment. In partial consideration of the sale and transfer of the Purchased Assets, Buyer shall pay
Seller five million dollars ($5,000,000) in cash at the Closing (the “Upfront Payment”). 

(b)    Milestone Payments. In partial consideration of the sale and transfer of the Purchased Assets, Buyer shall
make the following one-time cash payments to Seller upon achievement of the corresponding milestone event set forth below (the “Milestone Payments”): 

(i)    [***] upon [***]; 

(ii)    [***] upon [***]. 

  
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 The aggregate Milestone Payments under this Section 2.6(b) shall not exceed seven million dollars
($7,000,000), regardless of the number of times any milestone event has been achieved or the number of Products achieving such milestone event. Buyer shall notify Seller in writing within [***] after the achievement of the applicable milestone
event. Seller shall invoice Buyer for the corresponding Milestone Payment, and Buyer shall make such Milestone Payment to Seller within [***] after receiving such invoice from Seller. 

(c)    Earn-out. In partial consideration of the sale and transfer of the
Purchased Assets, on a Product-by-Product and country-by-country basis, commencing upon
the First Commercial Sale of a particular Product in a particular country, until the expiration of the Royalty Term for such Product in such country, Buyer shall pay to Seller an earnout equal to [***] of the aggregate Net Sales of such Product in
such country. 
 (d)    Earn-out Report and Payment. Within [***] after
the end of each calendar quarter, commencing with the first calendar quarter in which there are any Net Sales of a Product anywhere in the world, Buyer shall provide Seller with a report setting forth the amount of Net Sales of the Products on a country-by-country basis and the earnout payable on such Net Sales pursuant to Section 2.6(c). [***], Buyer shall pay the applicable royalty payments due to Seller for
such calendar quarter. All payments under this Agreement will be payable in US Dollars. When conversion of payments from any foreign currency is required to be undertaken by Buyer, the US Dollar equivalent will be calculated using Buyer’s
then-current standard exchange rate methodology as applied in its external reporting. If there is no standard exchange rate methodology applied by Buyer in its external reporting in accordance with its Accounting Standards, then any amount in a
currency other than US Dollars shall be converted to US Dollars using the exchange rate most recently quoted in the Wall Street Journal in New York as of [***]. Without limiting any other rights or remedies available to the Seller hereunder,
if Buyer [***]. 
 (e)    Records and Audits. Buyer will keep, and will cause its Affiliates to keep, complete,
true and accurate books and records in accordance with its Accounting Standards in relation to Net Sales and the earnouts payable to Seller under section 2.6(c), above. Buyer will [***] and in the event such audit reveals an underpayment or
overpayment by the Buyer, the underpaid or overpaid amount will be settled promptly. 

Section 2.7    Allocation of the Consideration. All considerations paid by Buyer to Seller pursuant to
Section 2.6 shall be allocated for Tax purposes among the Purchased Assets as mutually agreed to by the parties (the “Allocation”). Seller and Buyer agree not to take a position on any Income Tax return, before any Governmental
Authority or in any judicial proceeding that is inconsistent with the Allocation. 
 Section 2.8    Closing.

 (a)    On the terms and subject to the conditions of this Agreement, the closing of the transactions contemplated by
this Agreement (“Closing”) shall take place at the offices of Pfizer Inc., 235 East 42nd Street, New York, New York 10017-5755 (or, if agreed by the parties, electronically through the exchange of documents), at 12:00 p.m. (EST) on
the date hereof, or at such other time and place as the parties hereto shall agree (the “Closing Date”). At Closing, there shall be an exchange of funds and documents. For purposes of this Agreement, unless otherwise agreed in
writing by the parties, Closing shall be treated as if it occurred as of 12:01 a.m. on the Closing Date. 

  
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 (b)    At the Closing, Seller shall deliver, or cause to be delivered,
to Buyer the instruments and documents set forth in Exhibit A, in each case in a form reasonably acceptable to Buyer. 

(c)    At the Closing, Buyer shall deliver, or cause to be delivered, to Seller the following: (i) the Upfront
Payment, by wire transfer in immediately available funds, and (ii) the instruments and documents set forth in Exhibit B, in each case in a form reasonably acceptable to Seller. Seller shall provide wire transfer instructions to the Buyer
at least [***] prior to the Closing. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF SELLER 

Except as set forth in Seller’s Disclosure Schedules, Seller represents and warrants to Buyer as follows: 

Section 3.1    Organization. Seller is a corporation duly organized, validly existing and in good standing
under the Laws of the State of Delaware. 
 Section 3.2    Authority; Binding Effect. 

(a)    Seller has all requisite corporate power and authority to execute and deliver this Agreement and to perform its
obligations hereunder. The execution and delivery by Seller of this Agreement and the performance by Seller of its obligations hereunder have been, or will have been at the Closing, duly authorized by all requisite corporate action. 

(b)    This Agreement has been duly executed and delivered by Seller and, assuming the due authorization, execution and
delivery by Buyer of this Agreement, constitutes a valid and binding obligation of Seller, enforceable against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors’ rights generally or by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or law). 

Section 3.3    Non-Contravention. The execution, delivery and
performance by Seller of this Agreement, and the consummation of the transactions contemplated hereby do not and will not (i) violate any provision of the certificate of incorporation or bylaws of Seller; (ii) assuming receipt of all
Required Third Party Consents, conflict with, or result in the breach of or constitute a default under, any contract, agreement, lease or license to which Seller is a party and which relates exclusively to the Purchased Assets or (iii) assuming
compliance with the matters set forth in Section 3.4 and Section 4.5, violate or result in a breach of or constitute a default under any Law or other restriction of any Governmental Authority to which the Seller is subject; except, with
respect to clauses (ii) and (iii), for any violations, breaches, conflicts or defaults, that have not had, and would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

  
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 Section 3.4    Governmental Authorization. The execution and
delivery by Seller of this Agreement and the consummation of the transactions contemplated hereby do not require any consent or approval of any Governmental Authority, except for consents or approvals, the failure of which to obtain has not had, and
would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

Section 3.5    Title to Purchased Assets. The Seller owns, leases or has the legal right to use the Purchased
Assets and has good title to the Purchased Assets, free and clear of all Liens other than Permitted Encumbrances. 

Section 3.6    Seller Contracts. Since [***], no default or event of default or event, occurrence, condition
or act has occurred, with respect to Seller, or to Seller’s knowledge, with respect to the other contracting Third Party, which, with the giving of notice or the lapse of the time, would become a default or event of default under any Seller
Contract. Since [***], Seller has not received written notice of, the cancellation, modification or termination of any Seller Contract. True, correct and complete copies of all Seller Contracts have been delivered to Buyer. 

Section 3.7    Litigation. [***], there are no (i) outstanding judgments, orders, injunctions or decrees
of any Governmental Authority or arbitration tribunal against it or related to any of the Purchased Assets; (ii) lawsuits, actions or proceedings pending against it with respect to any of the Purchased Assets; or (iii) investigations by
any Governmental Authority, which are pending against it with respect to any of the Purchased Assets. 

Section 3.8    No Debarment. None of the Seller nor its current directors, officers, agents, representatives
or consultants are under investigation by the FDA or other regulatory authorities for debarment action or presently debarred pursuant to the Generic Drug Enforcement Act of 1992, as amended, or any analogous laws. 

Section 3.9    Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or
other fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Seller. 

Section 3.10    No Other Representations or Warranties. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS ARTICLE
3, THE PURCHASED ASSETS ARE PROVIDED BY SELLER TO BUYER HEREUNDER “AS-IS” AND SELLER MAKES NO OTHER REPRESENTATIONS OR WARRANTIES, EITHER EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY
STATUTE, OR OTHERWISE, AND SELLER SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED OR STATUTORY WARRANTIES WITH RESPECT TO THE PURCHASED ASSETS. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE SELLER MAKES NO REPRESENTATION AND EXTENDS NO WARRANTY
WITH RESPECT TO (A) THE ACCURACY OF ANY INFORMATION CONTAINED IN THE SELLER IND OR THE SELLER DEVELOPMENT AND REGULATORY DOCUMENTATION, (B) THE PROSPECTS OF THE ANTIBODY, 

  
 10 

 
ANY PRODUCT OR THE PURCHASED ASSETS, OR (C) THE VALIDITY OR ENFORCEABILITY OF, AND NON-INFRINGEMENT WITH RESPECT TO, THE SELLER PATENTS OR THE SELLER
INTELLECTUAL PROPERTY RIGHTS. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF BUYER 

Buyer represents and warrants to Seller as follows: 

Section 4.1    Organization and Qualification. Buyer is a corporation duly organized, validly existing and in
good standing under the Laws of the State of Delaware. 
 Section 4.2    Corporate Authorization. Buyer has
all requisite corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The execution and delivery by Buyer of this Agreement and the performance by Buyer of its obligations hereunder have been, or
will have been at the Closing, duly authorized by all requisite corporate action. 
 Section 4.3    Binding
Effect. This Agreement has been duly executed and delivered by Buyer and, assuming the due authorization, execution and delivery by Seller of this Agreement, constitutes a valid and binding obligation of Buyer, enforceable against it in
accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally or by general principles of equity (regardless of whether enforcement is
sought in a proceeding in equity or law). 

Section 4.4    Non-Contravention. The execution, delivery and
performance by Buyer of this Agreement and the consummation of the transactions contemplated hereby do not and will not (i) violate any provision of the certificate of incorporation or bylaws of Buyer; (ii) conflict with, or result in the
breach of, or constitute a default under, any contract, agreement, lease or license to which Buyer is a party, or (iii) assuming compliance with the matters set forth in Section 3.4 and Section 4.5, violate or result in a breach of or
constitute a default under any Law or other restriction of any Governmental Authority to which Buyer is subject; except, with respect to clauses (ii) and (iii), for any violations, breaches, conflicts or defaults, that have not had, and would
not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of Buyer to perform its obligations under this Agreement (a “Buyer Material Adverse Effect”). 

Section 4.5    Governmental Authorization. The execution and delivery by Buyer of this Agreement and the
consummation of the transactions contemplated hereby do not require any consent or approval of any Governmental Authority, except for consents or approvals, the failure of which to obtain has not had, and would not reasonably be expected to have,
individually or in the aggregate, a Buyer Material Adverse Effect. 
 Section 4.6    Hart-Scott-Rodino
Compliance. The Buyer has determined that the transaction contemplated under this Agreement does not require clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, 15 U.S.C. §18a and the regulations promulgated thereunder,
16 C.F.R. §§ 801.1 et seq. 

  
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 Section 4.7    Financial Capability. Buyer has sufficient
funds to purchase the Purchased Assets and to consummate the transactions and perform its obligations under this Agreement on the terms and subject to the conditions contemplated herein and therein. 

Section 4.8    Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or
other fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Buyer. 

Section 4.9    No Inducement or Reliance; Independent Assessment. Buyer and its Affiliates [***]. 

Section 4.10    No Other Representations or Warranties. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES OF BUYER
EXPRESSLY SET FORTH IN THIS ARTICLE 4, BUYER DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES, AND BUYER HEREBY DISCLAIMS ANY OTHER REPRESENTATIONS OR WARRANTIES, WHETHER MADE BY BUYER, OR ANY OF ITS AFFILIATES OR REPRESENTATIVES, WITH RESPECT TO THE
EXECUTION AND DELIVERY OF THIS AGREEMENT TO WHICH IT IS OR WILL BE A PARTY, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, NOTWITHSTANDING THE DELIVERY OR DISCLOSURE TO THE SELLER OR ANY OF ITS REPRESENTATIVES OF ANY DOCUMENTATION OR OTHER
INFORMATION WITH RESPECT TO ANY ONE OR MORE OF THE FOREGOING. 
 ARTICLE V 

COVENANTS 

Section 5.1    Information and Documents. 

(a)    Except for the Purchased Assets, all information received by Buyer and given by or on behalf of the Seller in
connection with this Agreement and the transactions contemplated hereby will be held by Buyer and its Affiliates, agents and representatives as “Confidential Information” of Pfizer, as defined in, and pursuant to the terms of, the
Confidentiality Agreement. From and after the Closing, notwithstanding anything to the contrary in the Confidentiality Agreement, (i) all Purchased Assets shall be deemed, and treated by Seller, its Affiliates, agents and representatives as the
“Confidential Information” (as defined in the Confidentiality Agreement) of Buyer only and (ii) [***] shall be deemed to include information related to the Purchased Assets. 

(b)    From and after the Closing, Seller shall not publish, present, or otherwise disclose, and shall cause its
Affiliates, agents and representatives, and Third Party licensees or contractors, and its and their respective employees and agents and representatives not to disclose any information related to the Antibody, Product or the Purchased Assets, without
the prior written consent of Buyer. For clarity, from and after the Closing, Buyer shall be free to publish, present, or otherwise disclose information related to the Antibody, Product or the Purchased Assets, subject to the Confidentiality
Agreement, if applicable. 

  
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 (c)    From and after the Closing, upon reasonable advance notice, the
Seller, on the one hand, and Buyer, on the other hand, shall cause to be furnished or to be provided access to the other party and its representatives such financial, Tax and operating data and other available information with respect to the
Purchased Assets, in each case in its then existing form, as such party and its representatives shall from time to time reasonably request in order to complete their legal and regulatory requirements and to complete their Tax returns and for any
other reasonable business purpose, including in respect of litigation (other than litigation between the parties this Agreement or their Affiliates) and insurance matters. Buyer and its Affiliates shall, for a period of [***], keep such materials
reasonably accessible and not destroy or dispose of such materials without the written consent of Seller. Each party shall promptly reimburse the other for such other party’s reasonable out-of-pocket expenses associated with requests made by the requesting party under this Section 5.1, but no other charges shall be payable by the requesting party to the other party in connection with
such requests. In the event either party reasonably determines that any such provision of any such information could be commercially detrimental, violate any Law or contract, or result in the waiver any privilege, the parties shall take all
commercially reasonable measures to permit the compliance with such obligations in a manner that avoids any such harm or consequence. 

Section 5.2    Compliance. Each of the parties hereto agrees to use its commercially reasonable efforts to
consummate and make effective the transactions contemplated by this Agreement, including (i) to comply promptly with all legal requirements that may be imposed on it with respect to this Agreement and the transactions contemplated hereby (which
actions shall include furnishing all information required by applicable Law in connection with approvals of or filings with any Governmental Authority); and (ii) subject to Section 2.2, to obtain any consent, authorization, order or
approval of, or any exemption by, any Governmental Authority or other public or private Third Party required to be obtained or made by Buyer or Seller in connection with the acquisition of the Purchased Assets or the taking of any other action
contemplated by this Agreement. 
 Section 5.3    Transfer of Purchased Assets. Following the Closing,
Seller shall [***], and shall [***]. 
 Section 5.4    Taxes. 

(a)    General. It is understood and agreed between the parties that any payments made under this Agreement are
exclusive of any value added or similar Tax (“VAT”), which shall be added thereon as applicable. In the event any payments made by Buyer to Seller pursuant to this Agreement become subject to withholding Taxes under the Laws of any
jurisdiction, Buyer shall deduct and withhold the amount of such Taxes for the account of Seller to the extent required by applicable Law and such amounts payable to Seller shall be reduced by the amount of Taxes deducted and withheld, which shall
be treated as paid to Seller in accordance with this Agreement. To the extent that Buyer is required to deduct and withhold Taxes on any payments under this Agreement, Buyer shall 

  
 13 

 
pay the amounts of such Taxes to the proper Governmental Authority in a timely manner and promptly transmit to the payee an official tax certificate or other evidence of such withholding
sufficient to enable Seller to claim such payments of Taxes. Buyer shall provide any Tax forms to Seller that may be reasonably necessary in order for Buyer not to withhold Tax or to withhold Tax at a reduced rate under an applicable bilateral
income Tax treaty. Each party shall provide the other with reasonable assistance to enable the recovery, as permitted by applicable Law, of withholding Taxes, VAT, or similar obligations resulting from payments made under this Agreement, such
recovery to be for the benefit of the party bearing such withholding Tax or VAT. 
 (b)    Tax Actions.
Notwithstanding anything in this Agreement to the contrary, if an action, including but not limited to any assignment of its rights or obligations under this Agreement, or any failure to comply with applicable Laws or filing or record retention
requirements (a “Tax Action”) by a party leads to the imposition of withholding Tax liability or VAT on the other party that would not have been imposed in the absence of a Tax Action or in an increase in such liability above the
liability that would have been imposed in the absence of such Tax Action, then (i) the sum payable by the party that caused the Tax Action (in respect of which such deduction or withholding is required to be made) shall be increased to the
extent necessary to ensure that the other party receives a sum equal to the sum which it would have received had no Tax Action occurred and (ii) the sum payable by the party that caused a Tax Action (in respect of which such deduction or
withholding is required to be made) shall be made to the other party after deduction of the amount required to be so deducted or withheld, which deducted or withheld amount shall be remitted in accordance with applicable Law. For the avoidance of
doubt, a party shall only be liable for increased payments pursuant to this Section 5.4(b) to the extent such party engaged in a Tax Action that created or increased a withholding Tax or VAT on the other party. 

Section 5.5    Cooperation. The parties agree to cooperate and produce on a timely basis any Tax forms or
reports, including an IRS Form W-8BEN, reasonably requested by the other party in connection with any payment made by Buyer to Seller under this Agreement. 

Section 5.6    Pfizer Assurance. [***] For a period of [***] after the Closing Date, [***]. 

ARTICLE VI 

INDEMNIFICATION 

Section 6.1    Indemnification by Seller. 

(a)    Subject to the provisions of this ARTICLE VI, Seller agrees to defend, indemnify and hold harmless Buyer and its
Affiliates, and their respective directors, officers, agents, employees, successors and assigns, from and against any and all claims, actions, causes of action, judgments, awards, Liabilities, losses, costs (including reasonable attorney’s
fees) or damages (collectively, a “Loss” or, the “Losses”) claimed or arising from (i) any Retained Liability, (ii) any breach by Seller of any of its covenants or agreements contained in this Agreement or
(iii) any breach of any representation or 

  
 14 

 
warranty of Seller contained in this Agreement, except to the extent resulting from (A) any Assumed Liability, (B) any breach by Buyer of any of its covenants or agreements in this
Agreement, or (C) any breach of any representation or warranty of Buyer contained in this Agreement. 

(b)    Buyer acknowledges and agrees that Seller shall not have any Liability under any provision of this Agreement for
any Loss to the extent that such Loss relates to action taken by Buyer or any other Person relating to the Purchased Assets (other than action taken by Seller in breach of this Agreement) on or after the Closing Date. Buyer shall take, and shall
cause its Affiliates to take, all reasonable steps to mitigate any Loss upon becoming aware of any event that would reasonably be expected to, or does, give rise thereto, including incurring costs only to the minimum extent necessary to remedy the
breach that gives rise to the Loss. 
 Section 6.2    Indemnification by Buyer. 

(a)    Subject to the provisions of this ARTICLE VI, Buyer agrees to defend, indemnify and hold harmless Seller and its
Affiliates, and their respective directors, officers, agents, employees, successors and assigns, from and against any and all Loss claimed or arising from (i) any Assumed Liability, (ii) any breach by Buyer of any of its covenants or
agreements in this Agreement, or (iii) any breach of any representation or warranty of Buyer contained in this Agreement, except to the extent resulting from (A) any Retained Liability, (B) any breach by Seller of any of its covenants
or agreements in this Agreement, or (C) any breach of any representation or warranty of Seller contained in this Agreement. 

(b)    Seller shall take, and cause its Affiliates to take, all reasonable steps to mitigate any Loss upon becoming aware
of any event that would reasonably be expected to, or does, give rise thereto, including incurring costs only to the minimum extent necessary to remedy the breach that gives rise to the Loss. 

Section 6.3    Notice of Claims. If any of the Persons to be indemnified under this ARTICLE VI (the
“Indemnified Party”) has suffered or incurred any Loss, the Indemnified Party shall so notify the party from whom indemnification is sought (the “Indemnifying Party”) promptly in writing describing such Loss, the
amount or estimated amount thereof, if known or reasonably capable of estimation, and the method of computation of such Loss, all with reasonable particularity and containing a reference to the provisions of this Agreement or any other agreement or
instrument delivered pursuant hereto in respect of which such Loss shall have occurred. If any action at Law or suit in equity is instituted by or against a Third Party with respect to which the Indemnified Party intends to claim any Liability as a
Loss under this ARTICLE VI, the Indemnified Party shall promptly notify the Indemnifying Party of such action or suit and tender to the Indemnifying Party the defense of such action or suit. A failure by the Indemnified Party to give notice and to
tender the defense of the action or suit in a timely manner pursuant to this Section 6.3 shall not limit the obligation of the Indemnifying Party under this ARTICLE VI, except (i) to the extent such Indemnifying Party is actually
prejudiced thereby, (ii) expenses that are incurred during the period in which notice was not provided shall not be deemed a Loss and (iii) as provided by Section 6.5. 

  
 15 

 Section 6.4    Third Party Claims. 

(a)    The Indemnifying Party under this ARTICLE VI shall have the right, but not the obligation, to conduct and control,
through counsel of its choosing, the defense of any third party claim, action, suit or proceeding (a “Third Party Claim”). Except with the prior written consent of the Indemnified Party, the Indemnifying Party may compromise or
settle a Third Party Claim that provides for injunctive or other non-monetary relief affecting the Indemnified Party or that does not completely release the Indemnified Party. Should the Indemnifying Party so
elect to conduct and control the defense of any Third Party Claim, the Indemnifying Party shall not be liable to the Indemnified Party for legal expenses subsequently incurred by the Indemnified Party in connection with the defense thereof. No
Indemnified Party may compromise or settle any Third Party Claim for which the Indemnifying Party has assumed the defense hereunder without the consent of the Indemnifying Party. The Indemnifying Party shall permit the Indemnified Party to
participate in, but not control, the defense of any such action or suit through counsel chosen by the Indemnified Party, provided that the fees and expenses of such counsel shall be borne by the Indemnified Party. If the Indemnifying Party
elects not to control or conduct the defense or prosecution of a Third Party Claim, the Indemnified Party shall have the full right to defend against such Third Party Claim and shall be entitled to settle or agree to pay in full such Third Party
Claim and to recover any amounts paid plus all expenses incurred by the Indemnified Party (including attorneys’ fees) from the Indemnifying Party. The Indemnifying Party nevertheless shall have the right to participate in the defense or
prosecution of such Third Party Claim and, at its own expense, to employ counsel of its own choosing for such purpose. 

(b)    The parties hereto shall cooperate in the defense or prosecution of any Third Party Claim, with such cooperation to
include (i) the retention of and the provision to the Indemnifying Party of records and information that are reasonably relevant to such Third Party Claim and (ii) the making available of employees on a mutually convenient basis for
providing additional information and explanation of any material provided hereunder. 

Section 6.5    Expiration. Notwithstanding anything in this Agreement to the contrary except for the next
sentence, if the Closing shall have occurred, all covenants, agreements, representations and warranties made herein shall survive the Closing. Notwithstanding the foregoing, except for a party’s [***], all representations and warranties made
herein, and all indemnification obligations under Section 6.1(a)(iii) and Section 6.2(a)(iii) with respect to any such representation or warranty, shall terminate and expire on, and no action or proceeding seeking damages or other relief
for breach of any thereof or for any misrepresentation or inaccuracy with respect thereto shall be commenced after, [***], unless prior to such [***] a claim for indemnification with respect thereto shall have been made, with reasonable specificity,
by written notice given under Section 6.3. 
 Section 6.6    Losses Net of Insurance, Etc. The amount
of any Loss for which indemnification is provided under Section 6.1 or Section 6.2 shall be net of (i) any amounts recovered by the Indemnified Party pursuant to any indemnification by or indemnification agreement with any Third
Party, or (ii) any insurance proceeds (net of any increase in premiums directly relating to such Loss as reasonably demonstrated by the 

  
 16 

 
Indemnified Party) or other funds received directly by the Indemnified Party as an offset against such Loss (each Person named in clauses (i) and (ii), a “Collateral
Source”). If the amount to be netted hereunder from any payment required under Section 6.1 or Section 6.2 is determined after payment by the Indemnifying Party of any amount otherwise required to be paid to an Indemnified Party
pursuant to this ARTICLE VI, the Indemnified Party shall repay to the Indemnifying Party, promptly after such determination, any amount that the Indemnifying Party would not have had to pay pursuant to this ARTICLE VI had such determination been
made at the time of such payment. 
 Section 6.7    Sole Remedy. The parties hereto acknowledge and agree
that [***]. 
 Section 6.8    No Consequential Damages. EXCEPT FOR A PARTY’S FRAUDULENT OR WILLFUL
MISCONDUCT, NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, NEITHER PARTY TO THIS AGREEMENT SHALL BE LIABLE TO OR OTHERWISE RESPONSIBLE TO THE OTHER PARTY HERETO OR ANY AFFILIATE OF ANY OTHER PARTY HERETO FOR CONSEQUENTIAL, INCIDENTAL OR
PUNITIVE DAMAGES THAT ARISE OUT OF OR RELATE TO THIS AGREEMENT OR THE PERFORMANCE OR BREACH HEREOF OR ANY LIABILITY RETAINED OR ASSUMED HEREUNDER. THIS SECTION SHALL NOT LIMIT THE DAMAGES RECOVERABLE BY EITHER PARTY IN CONNECTION WITH ANY BREACH OF
THE CONFIDENTIALITY AGREEMENT. 
 ARTICLE VII 

MISCELLANEOUS 

Section 7.1    Notices. All notices or other communications hereunder shall be deemed to have been duly given
and made if in writing and if served by personal delivery upon the party for whom it is intended, if delivered by registered or certified mail, return receipt requested, or by a national courier service, or if sent by facsimile, provided that
the facsimile is promptly confirmed by telephone confirmation thereof, to the Person at the address set forth below, or such other address as may be designated in writing hereafter, in the same manner, by such Person: 

To Seller: 
 Amplyx
Pharmaceuticals, Inc. 
 c/o Pfizer Inc. 

235 East 42nd Street 

New York, NY 10017 
 Attention:
[***] 

  
 17 

 With a copy to: 

c/o Pfizer Inc. 
 235 East 42nd
Street 
 New York, NY 10017 

Attention: [***] 
 To Buyer: 

Vera Therapeutics, Inc. 
 170
Harbor Way, 3rd Floor 
 South San Francisco, CA 94080 

Attention: [***] 

Section 7.2    Amendment; Waiver. Any provision of this Agreement may be amended or waived if, and only if,
such amendment or waiver is in writing and signed, in the case of an amendment, by Buyer and Seller, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right, power
or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

Section 7.3    Assignment. No party to this Agreement may assign this Agreement, or any of its rights or
obligations under this Agreement, without the prior written consent of the other party hereto, except that either party may, without such consent, assign this Agreement in its entirety to an Affiliates or to a successor in interest in connection
with a merger or sale of all or substantially all of the business or assets to which this Agreement pertains; provided, however, that no such assignment by a Party shall relieve such Party of any of its obligations hereunder, and that
any such assignment by such Party does not adversely affect the other Party or any of its Affiliates. 

Section 7.4    Entire Agreement. This Agreement (including all Schedules and Exhibits), the Assignment and
Assumption Agreement and the Patent Assignment Agreement contain the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to such
matters, except for the Confidentiality Agreement which will remain in full force and effect for the term provided for therein and other than any written agreement of the parties that expressly provides that it is not superseded by this Agreement.

 Section 7.5    Fulfillment of Obligations. Any obligation of any party to any other party under this
Agreement, which obligation is performed, satisfied or fulfilled by an Affiliate of such party, shall be deemed to have been performed, satisfied or fulfilled by such party. 

Section 7.6    Parties in Interest. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, is intended to confer upon any Person other than Buyer, Seller or their respective successors or permitted assigns, any rights or
remedies under or by reason of this Agreement. 

  
 18 

 Section 7.7    Public Disclosure. Notwithstanding anything
herein to the contrary, each of the parties to this Agreement hereby agrees with the other parties hereto that, except as may be required to comply with the requirements of any applicable Laws, and the rules and regulations of the SEC or each stock
exchange upon which the securities of either of the parties is listed, no press release or similar public announcement or communication shall, if prior to the Closing, be made or caused to be made concerning the execution or performance of this
Agreement unless the parties shall have consulted in advance with respect thereto. 

Section 7.8    Expenses. Except as otherwise expressly provided in this Agreement, whether or not the
transactions contemplated by this Agreement are consummated, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be borne by the party incurring such expenses. For the avoidance of doubt,
Buyer, at their sole cost and expense, shall make all appropriate filings, notices and applications with the applicable Governmental Authority to reflect the sale, transfer and assignment of any Purchased Asset. Notwithstanding the foregoing, all
Taxes (including any value added taxes but excluding any Income Taxes) and fees relating to the transfer of the Purchased Assets shall be paid by Buyer. 

Section 7.9    Governing Law; Jurisdiction. This Agreement shall be governed in all respects, including
validity, interpretation and effect, by the internal laws of the State of New York. The parties hereto agree that the [***] shall have exclusive jurisdiction over any dispute or controversy arising out of or relating to this Agreement and any
judgment, determination, arbitration award, finding or conclusion reached or rendered in any other jurisdiction shall be null and void between the parties hereto. Each party waives any defense of inconvenient forum to the maintenance of any action
or proceeding so brought and waives any bond, surety, or other security that might be required of any other party with respect thereto. 

Section 7.10    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original, and all of which shall constitute one and the same agreement. 

Section 7.11    Headings. The heading references herein and the table of contents hereto are for convenience
purposes only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 

Section 7.12    Severability. The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or unenforceable,
(a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement
and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such provision, or the
application thereof, in any other jurisdiction. 

  
 19 

 [Remainder of page intentionally blank] 

  
 20 

 IN WITNESS WHEREOF, the parties have executed or caused this Agreement to be executed as of
the date first written above. 
  

					
	AMPLYX PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Deborah Baron

		 	 Name:
	 	 Deborah Baron

		 	 Title:
	 	 President

	
	VERA THERAPEUTICS, INC.
		
	By:	 	 /s/ Marshall Fordyce

		 	 Name:
	 	 Marshall Fordyce

		 	 Title:
	 	 Chief Executive Officer

 Acknowledged and agreed by Pfizer solely with respect to Section 5.6: 

 

					
	PFIZER INC.
		
	By:	 	 /s/ Deborah Baron

		 	Name:	 	Deborah Baron
		 	Title:	 	SVP Worldwide Business Development

  
 [Signature Page to Asset
Purchase Agreement.] 

 Exhibit A 

List of instruments and documents to be provided by Seller: [***] 

 Exhibit B 

List of instruments and documents to be provided by Buyer: [***]

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