Document:

Exhibit 10.10.1

 

FIRST AMENDMENT TO EXCLUSIVE PATENT
LICENSE AGREEMENT

 

This First Amendment
(this “First Amendment”), effective as of February 25, 2011, amends the Exclusive Patent License Agreement effective
March 14, 2006 (the “Agreement”) between Duke University, a nonprofit educational and research institution organized
under the laws of North Carolina (“DUKE”), having its principal office at Durham, North Carolina 27708, and Humacyte,
Inc., a corporation organized under the laws of North Carolina (“COMPANY”), with its corporate headquarters and principal
office at 7020 Kit Creek Road, Morrisville, NC 27560. All capitalized terms used herein and not otherwise defined shall have the
meanings set forth in the Agreement.

 

WHEREAS, COMPANY has
been engaged in good faith and reasonable commercial efforts to commercialize the PATENT RIGHTS and develop, register, market and
sell LICENSED PRODUCTS, and desires to negotiate a revised schedule of diligence obligations; and

 

WHEREAS, Article 21
and Section 4.01 of the Agreement each require that any change or modification to the Agreement and the DUE DILIGENCE SCHEDULE
be set forth in a written instrument executed by both DUKE and COMPANY.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants contained herein, the parties hereby agree as follows:

 

1. The
DUE DILIGENCE SCHEDULE, affixed to the Agreement as Appendix B, is hereby deleted in its entirety and replaced with the DUE DILIGENCE
SCHEDULE affixed hereto as Exhibit A.

 

2. The
first sentence of Section 3.01(e) of the Agreement is hereby deleted in its entirety and replaced with the following:

 

“Minimum Royalty
Payments. COMPANY shall pay an annual minimum royalty (the “MINIMUM ROYALTY”) of [***] dollars (US$[***]) per year
beginning with the calendar year immediately following the sixth anniversary of the EFFECTIVE DATE, which shall increase to [***]
dollars (US$[***]) per year for the remainder of the life of this AGREEMENT beginning with the calendar year immediately following
the first commercial sale of LICENSED PRODUCTS or LICENSED SERVICES (whichever shall first occur).”

 

3. DUKE
and COMPANY hereby agree that the requirements set forth in [***] the DUE DILIGENCE SCHEDULE, [***] have previously been timely
satisfied in accordance with the Agreement.

 

4. DUKE
and COMPANY hereby agree that the requirements set forth in the [***] of the DUE DILIGENCE SCHEDULE [***] and Section 3.01(0(i)
of the Agreement have previously been timely satisfied in accordance with the Agreement. In addition, DUKE hereby acknowledges
prior receipt of the Milestone Payment set forth in Section 3.01(D(i) of the Agreement in the amount of $[***].

  

5. Section
12.01 of the Agreement is hereby amended to revise the contact information for purpose of the delivery of notices to COMPANY pursuant
to the Agreement as follows:

 

    1

     

    

 

For delivery via the
U.S. Postal Service:

 

Humacyte, Inc.

Attn: President

P.O. Box 12695

Durham, NC 27709

 

		cc:	(if of a legal nature, which such copy shall not constitute notice in the case of COMPANY or DUKE)

 

Michael P. Saber

Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan,
LLP

150 Fayetteville Street

Suite 2500

P.O. Box 2611

Raleigh, NC 27602-2611

 

6. All
terms, conditions and provisions of the Agreement not expressly amended, modified or deleted by this First Amendment shall continue
in full force and effect and are hereby ratified by the parties. This First Amendment is binding on and inures to the benefit of
the parties and their permitted heirs, successors and assigns.

 

7. The
Agreement, together with any exhibits and appendices affixed thereto, all as modified by this First Amendment, together with the
exhibit affixed hereto, constitutes the entire and exclusive agreement between DUKE and COMPANY with respect to the subject matter
thereof.

 

8. This
First Amendment shall be governed by and construed in accordance with the laws of the State of North Carolina without regard to
conflict of law principles thereof.

 

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

 

(Signature Page Follows)

 

    2

     

    

 

(Signature Page to First Amendment to
Duke / Humacyte License)

 

IN WITNESS WHEREOF,
the parties have caused this First Amendment to be executed by their duly authorized representatives.

 

	DUKE UNIVERSITY	 	HUMACYTE, INC.
	 	 	 
	By:	/s/ Rose Ritts	 	By:	/s/ Carrie S. Cox
	Name: 	Rose Ritts, PhD	 	Name: 	Carrie S. Cox
	Title:	Executive Director, Office of Licensing & Ventures, Duke University & DUMC	 	Title:	CEO

 

    3

     

    

  

Exhibit A to First Amendment

 

APPENDIX B

 

DUE DILIGENCE SCHEDULE

 

[***]

 

 

4Exhibit 10.10.2

 

Humacyte 4.24.2014

 

SECOND AMENDMENT TO EXCLUSIVE PATENT
LICENSE AGREEMENT

 

This Second Amendment
(this “Second Amendment”), effective as of April 24, 2014, amends the Exclusive Patent License Agreement, effective
March 14, 2006, as amended by the First Amendment to Exclusive Patent License Agreement, effective as of February 25, 2011 (as
so amended, the “Agreement”), between Duke University, a nonprofit educational and research institution organized under
the laws of North Carolina (“DUKE”), having its principal office at Durham, North Carolina 27708, and Humacyte, Inc.,
a corporation organized under the laws of North Carolina (“COMPANY”) with its corporate headquarters and principal
office at 7020 Kit Creek Road, Morrisville, NC 27560. All capitalized terms used herein and not otherwise defined shall have the
meanings set forth in the Agreement.

 

WHEREAS, COMPANY has
been engaged in good faith and reasonable commercial efforts to commercialize the PATENT RIGHTS and develop, register, market and
sell LICENSED PRODUCTS, and desires to negotiate an amendment to the DUE DILIGENCE SCHEDULE.

 

WHEREAS, the Agreement
requires that any change or modification to the Agreement and the DUE DILIGENCE SCHEDULE be set forth in a written instrument executed
by both DUKE and COMPANY.

 

NOW, THEREFORE, in consideration
of the premises and mutual covenants contained herein, the parties hereby agree as follows:

 

1. The
obligation described in the last bullet of the DUE DILIGENCE SCHEDULE is hereby deleted in its entirety and replaced with the following:

 

		●	[***]

 

2. DUKE
and COMPANY hereby agree that the requirements set forth in the [***] of the DUE DILIGENCE SCHEDULE, for [***] have previously
been timely satisfied in accordance with the Agreement. In addition, DUKE hereby acknowledges prior receipt of the Milestone Payments
set forth in Sections 3.01(f)(i) through (iii) of the Agreement.

 

3. Section
12.01 of the Agreement is hereby amended to revise the contact information for purposes of the delivery of notices to COMPANY pursuant
to the Agreement as follows:

 

For delivery via the U.S. Postal Service:

 

Humacyte, Inc.

Attn: Chief Financial Officer

P.O. Box 12695

NY: 865628-1

Durham, NC 27709

 

     

     

    

 

		cc:	(if of a legal nature, which such copy shall not constitute notice in the case of COMPANY or DUKE)

 

Carey S. Roberts

Covington & Burling LLP

620 Eighth Avenue

New York, NY 10018

 

4. Upon
the effectiveness of this Second Amendment, each reference in the Agreement to (i) “this Agreement”, “hereunder”,
“hereof’, “herein” or words of like import shall mean and be a reference to the Agreement as amended hereby,
and (ii) to the “DUE DILIGENCE SCHEDULE” shall mean and be a reference to the DUE DILIGENCE SCHEDULE as amended hereby.

 

5. All
terms, conditions and provisions of the Agreement not expressly amended, modified or deleted by this Second Amendment shall continue
in full force and effect and are hereby ratified by the parties. This Second Amendment is binding on and inures to the benefit
of the parties and their permitted hefts, successors and assigns.

 

6. The
Agreement, together with any exhibits and appendices affixed thereto, all as modified by this Second Amendment, constitutes the
entire and exclusive agreement between DUKE and COMPANY with respect to the subject matters thereof.

 

7. This
Second Amendment shall be governed by and construed in accordance with the laws of the State of North Carolina without regard to
conflict of law principles thereof.

 

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

 

(Signature Page Follows)

 

    2

     

    

 

(Signature Page to Second Amendment to
Duke / Humacyte License)

 

IN WITNESS WHEREOF, the
parties have executed this Second Amendment to be executed by their duly authorized representatives.

 

	DUKE UNIVERSITY	 	HUMACYTE, INC.
	 	 	 
	By:	/s/ Rose Ritts	 	By:	/s/ Paul A. Boyer
	Name: 	Rose Ritts, PhD	 	Name: 	Paul A. Boyer
	Title:	Executive Director, Office of Licensing & Ventures, Duke University & DUMC	 	Title:	CFO

 

 

3Exhibit 10.10.3

 

THIRD AMENDMENT TO EXCLUSIVE PATENT
LICENSE AGREEMENT

 

This THIRD AMENDMENT TO EXCLUSIVE PATENT LICENSE AGREEMENT (“THIRD
AMENDMENT”) dated as of June 26, 2015 amends the Exclusive Patent License Agreement (“Agreement”) by and between
Duke University, a nonprofit educational and research institution organized under the laws of North Carolina (“DUKE”),
having its principal office at Durham, North Carolina 27708 and Humacyte, Inc., a corporation organized under the laws of North
Carolina (“HUMACYTE”), with its corporate headquarters and principal office at 7020 Kit Creek Road, Morrisville, NC
27560. All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Agreement.

 

BACKGROUND

 

WHEREAS, the Parties have determined that there is a typographical
error in reference to a specific patent application Serial Number included in the definition of PATENT RIGHTS incorrectly identified
as [***] and the Parties wish to correct that typographical error to [***].

 

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained
herein, the Parties hereby agree as follows:

 

		1.	All terms and conditions of the Agreement and First Amendment not modified by this THIRD AMENDMENT shall continue in full force
and effect in accordance with their terms.

 

		2.	Section 1.13 PATENT RIGHTS. Section 1.13 of the Agreement is deleted and replaced with the following section:

 

1.13 “PATENT RIGHTS” means collectively
(a) United States PATENT APPLICATION [***], entitled [***] and (b) [***], entitled [***] (hereinafter, the patent applications
identified in the preceeding (a) and (b) may be referred to individually or collectively as “INITIAL PATENT APPLICATIONS”);
(c) all substitutes, continuations, continuations-in-part (but only to the extent that the subject matter of each such continuation-in-part
application is described in and enabled by the disclosure of the INITIAL PATENT APPLICATIONS), and divisionals of the foregoing
applications; (d) all foreign patent applications corresponding to the foregoing U.S. applications; (hereinafter, the patent applications
identified in the preceeding (a)—(d) may be referred to individually or collectively as “PATENT APPLICATIONS”);
and (e) all U.S. and foreign patents issued or issuing with respect to any of the foregoing applications and all extensions, renewals,
reissues thereof (“PATENTS”). Notwithstanding the foregoing, PATENT RIGHTS shall not include those patent applications
and/or patents that, during the term of this AGREEMENT, cease to be PATENT RIGHTS pursuant to COMPANY declining to financially
support the filing, prosecution, and/or maintenance of the subject patent applications and/or patents. Subject matter that is developed
after the date of this AGREEMENT that is novel and unobvious over subject matter described in the PATENT RIGHTS but that may fall
within the scope of the PATENT RIGHTS is not to be considered part of the PATENT RIGHTS. When any of the foregoing ceases to be
protected pursuant to an issued patent (or in the case of unpatented inventions, the pursuit of the filing or prosecution of a
patent application is abandoned or disallowed without the possibility of appeal or refiling), such rights will no longer be deemed
“PATENT RIGHTS.”

 

     

     

    

 

IN WITNESS WHEREOF, the Parties hereto have caused this THIRD
AMENDMENT to be executed by their duly authorized representatives, as set forth below.

  

	HUMACYTE, INC.	 	DUKE UNIVERSITY
	 	 	 	 	 
	By:	/s/ Paul Boyer	 	By:	/s/ Rose Ritts
	Name: 	Paul Boyer	 	Name: 	Rose Ritts
	Title:	CIO	 	Title:	Executive Dir, Licensing & Ventures

 

2

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