Document:

EX-10.22

 Exhibit 10.22 

CONSENT AND THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT 

THIS CONSENT AND THIRD AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into as of
April 30, 2018 (the “Amendment Date”), by and among OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (in its individual capacity,
“Oxford”; and in its capacity as Collateral Agent, “Collateral Agent”), the Lenders listed on Schedule 1.1 thereof from time to time including Oxford in its capacity as a Lender (each a “Lender” and
collectively, the “Lenders”), Inhibrx, LP, a Delaware limited partnership, Inhibrx 101, LP, a Delaware limited partnership, Inhibrx 104, LP, a Delaware limited partnership, INBRX 105, LP, a Delaware limited partnership, INBRX 106,
LP, a Delaware limited partnership, INBRX 107, LP, a Delaware limited partnership, INBRX 108, LP, a Delaware limited partnership, INBRX 109, LP, a Delaware limited partnership, INBRX 110, LP, a Delaware limited partnership, INBRX 111, LP, a Delaware
limited partnership, and INBRX 112, LP, a Delaware limited partnership, each with an office located at with an office located at 11099 N. Torrey Pines Road, Suite 280, La Jolla, CA 92037 (individually and collectively, jointly and severally,
“Borrower”) and Tenium Therapeutics, Inc., anticipated to be renamed Inhibrx, Inc., a Delaware corporation (“New Borrower”). 

WHEREAS, Collateral Agent, Borrower and the Lenders have entered into that certain Loan and Security Agreement, dated as of
March 31, 2015 (as amended, supplemented or otherwise modified from time to time, the “Loan Agreement”) pursuant to which the Lenders have provided to Borrower certain loans in accordance with the terms and conditions thereof;

 WHEREAS; Borrower and New Borrower are entering into that certain Agreement and Plan of Merger (in the form attached
hereto as Exhibit A, the “Merger Agreement”), dated April 30, 2018, pursuant to the terms of which, among other things, Borrower will merger into New Borrower, and all equity interests of Borrower outstanding immediately
prior to the Effective Time (as defined in the Merger Agreement as in effect on the date hereof) shall be automatically converted solely into the right to receive a number of shares of the New Borrower’s capital stock in accordance with the
terms set forth in the Merger Agreement; 
 WHEREAS, pursuant to the Loan Agreement the Borrower is required to obtain the
prior consent of the Lenders and the Collateral Agent prior to consummating the Merger (as defined in the Merger Agreement as in effect on the date hereof); 

WHEREAS, the Collateral Agent and Lenders have agreed to provide such consent, but only to the extent set forth herein, in
accordance with the terms and subject to the conditions set forth herein, and in reliance upon the representations and warranties set forth herein; 

WHEREAS, Borrower, Lenders and Collateral Agent desire to amend certain provisions of the Loan Agreement as provided herein
and subject to the terms and conditions set forth herein; and 
 NOW, THEREFORE, in consideration of the promises, covenants
and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, New Borrower, Lenders and Collateral Agent hereby agree as follows: 

 

	 	1.	 Definitions. Capitalized terms used herein but not otherwise defined shall have the respective
meanings given to them in the Loan Agreement. 

  

	 	2.	 Consent. 

  

	 	a.	 Subject to the terms and conditions hereof, and notwithstanding anything to the contrary contained in the
Loan Agreement or any other Loan Document, the Collateral Agent and the Lenders hereby consent to (a) Borrower’s execution, delivery and performance of the Merger Agreement and without any material changes thereto unless such changes are
consented to by the Collateral Agent and the Lenders; (b) consummation of the transactions contemplated by the Merger Agreement; and (c) the New Borrower becoming the “Borrower” and “Parent” under the Loan Agreement
with effect from the Effective Time by the New Borrower entering into a joinder to the Loan Agreement on the Effective Date, in such form and substance as is acceptable to the Collateral

  
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Agent and Lenders in their sole discretion; provided, however, the consent set forth in this Section 2(a) are contingent upon the satisfaction of the conditions set forth in
Section 4 hereof. 

  

	 	b.	 The Collateral Agent and the Lenders do not consent to, and the Borrower shall not, alter, amend or waive
any provision of the Merger Agreement to the extent that any such alteration, amendment or waiver will constitute, either by itself or together with other related alterations, amendments or waivers, a material change to the Merger Agreement.

  

	 	c.	 New Borrower hereby notifies Collateral Agent of its proposed name change from “Tenium Therapeutics,
Inc.” to “Inhibrx, Inc.”, and Collateral Agent acknowledges receipt of such notice in satisfaction of the notice requirement set forth in Section 7.2 of the Loan Agreement. 

 

	 	d.	 The consent set forth in this Section 2 is effective for the purposes set forth
herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which
Lenders may now have or may have in the future under or in connection with any Loan Document. 

  

	 	3.	 Amendments. 

 

	 	a.	 Section 6.11 of the Loan Agreement is hereby amended and restated as follows: 

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 such
Subsidiary owned by Borrower. Notwithstanding anything to the contrary contained herein, INBRX 103, LLC, a Delaware limited liability company and a Subsidiary of Borrower, shall not be subject to the requirements of this Section 6.11. 

 

	 	b.	 The address for the Borrower set forth in Section 10 is hereby amended and restated as follows:

 TENIUM THERAPEUTICS, INC. 

11099 N. Torrey Pines Road 

Suite 280 

La Jolla, CA 92037 

Attn: Mark Lappe, CEO 
  

	 	c.	 Section 13.1 of the Loan Agreement is hereby amended by amending and restating the following definition
therein as follows: 

 “Borrower” is Tenium Therapeutics, Inc., anticipated to be renamed
Inhibrx, Inc., a Delaware corporation (successor by merger with Inhibrx, LP, a Delaware limited partnership, Inhibrx 101, LP, a Delaware limited partnership, Inhibrx 104, LP, a Delaware limited partnership, INBRX 105, LP, a Delaware limited
partnership, INBRX 106, LP, a Delaware limited partnership, INBRX 107, LP, a Delaware limited partnership, INBRX 108, LP, a Delaware limited partnership, INBRX 109, LP, a Delaware limited partnership, INBRX 110, LP, a Delaware limited partnership,
INBRX 111, LP, a Delaware limited partnership and INBRX 112, LP, a Delaware limited 

  
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partnership, each with an office located at 11099 N. Torrey Pines Road, Suite 280, La Jolla, CA 92037). 
  

	 	d.	 Section 13.1 of the Loan Agreement is hereby further amended by amending and restating clause
(h) of the definition of Permitted Investments as follows: 

 (h) Investments consisting of
(i) ownership interests in Subsidiaries formed pursuant (and subject) to Section 6.11 and (ii) ownership interests in INBRX 103, LLC, a Delaware limited liability company; 

 

	 	e.	 Exhibit A to the Loan Agreement is hereby amended and restated as set forth on Exhibit B
hereto. 

  

	 	f.	 Exhibit C to the Loan Agreement is hereby amended and restated as set forth on Exhibit C
hereto. 

  

	 	g.	 Exhibit D to the Loan Agreement is hereby amended and restated as set forth on Exhibit D
hereto. 

  

	 	h.	 The amendments set forth in this Section 3 are effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right, remedy or obligation which
Lenders, New Borrower or Borrower may now have or may have in the future under or in connection with any Loan Document, as amended hereby. 

  

	 	4.	 Conditions Precedent. This Amendment is contingent upon, and shall be deemed effective as of the
Closing (as defined in the Merger Agreement as in effect on the date hereof) upon the satisfaction of each of the following conditions: 

  

	 	a.	 the Collateral Agent’s receipt of this Amendment duly executed by each of the Borrower, New Borrower,
the Collateral Agent and each Lender; 

  

	 	b.	 the Collateral Agent’s receipt of a copy of the Merger Agreement executed by the Borrower and New
Borrower, and all documents and filings related thereto; 

  

	 	c.	 the Collateral Agent’s receipt (i) of such certificates of resolutions or other action, incumbency
certificates and/or other certificates of New Borrower as the Collateral Agent may reasonably require evidencing (A) the authority of New Borrower to enter a joinder agreement to join the Loan Agreement and the other Loan Documents to which New
Borrower is a party or is to become a party and (B) the identity, authority and capacity of each officer of New Borrower authorized to act as on behalf of the New Borrower in connection with the Loan Agreement and the other Loan Documents to
which New Borrower is a party or is to become a party, and (ii) copies of New Borrower’s organization documents and such other documents and certifications as the Collateral Agent may reasonably require to evidence that New Borrower is
duly organized or formed, and that New Borrower is validly existing and in good standing in its jurisdiction of organization; 

  

	 	d.	 Collateral Agent’s receipt of (i) all documents and instruments, including Uniform Commercial Code
financing statements, required by law by the Collateral Agent to be filed, registered or recorded to create or perfect the first priority Liens intended to be created under the Loan Documents and all such documents and instruments shall have been so
filed, registered or recorded to the satisfaction of the Collateral Agent; 

  

	 	e.	 Collateral Agent’s receipt of evidence that no Liens exist on the assets of the New Borrower upon the
consummation of the Merger other than Permitted Liens and such other Liens that each of the Collateral Agent and Lenders shall consent to in their sole discretion, and no Liens will be effected on the assets of the New Borrower as a consequence of
the consummation of the Merger or the other transactions contemplated in the Merger Agreement, in each case, other than Liens that would comprise Permitted Liens under the Loan Agreement; 

  
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	 	f.	 New Borrower shall become the Borrower under the Loan Agreement, no later than the Effective Time (as
defined in the Merger Agreement); 

  

	 	g.	 delivery by New Borrower of executed amended and restated Secured Promissory Notes to the Collateral Agent
and the Lenders in the form attached hereto as Exhibit D. 

  

	 	h.	 delivery by New Borrower of its Perfection Certificate to Collateral Agent; 

 

	 	i.	 (i) the representations and warranties contained in the Loan Documents will be true, accurate and
complete in all material respects as of the Effective Time (as defined in the Merger Agreement) (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct in all material respects as
of such date), and (ii) no Event of Default shall have occurred and be continuing; and 

  

	 	j.	 Collateral Agent and each Lender shall have completed prior to the Closing a credit analysis and due
diligence of New Borrower and all of its subsidiaries that is satisfactory to Collateral Agent in its sole discretion and each Lender in its sole discretion. 

  

	 	5.	 Covenants. New Borrower shall do all of the following: 

 

	 	a.	 No later than seven (7) days after the Amendment Date, deliver to Collateral Agent evidence
satisfactory to Collateral Agent that New Borrower is qualified and licensed to do business and is in good standing in its jurisdiction of incorporation; 

  

	 	b.	 No later than fourteen (14) days after the Amendment Date, deliver to Collateral Agent evidence
satisfactory to Collateral Agent that New Borrower is qualified and licensed to do business and is in good standing in California; 

  

	 	c.	 No later than forty-five (45) days after the Amendment Date, deliver to Collateral Agent evidence
satisfactory to Collateral Agent that all insurance required to be maintained pursuant to the Loan Documents and all endorsements in favor of the Collateral Agent required under the Loan Documents have been obtained and are in effect;

  

	 	d.	 No later than fourteen (14) days after the Amendment Date, deliver to Collateral Agent the Control
Agreements required pursuant to Section 6.6 of the Loan Agreement; and 

  

	 	e.	 No later than thirty (30) days after the Amendment Date, deliver to Collateral Agent stock certificates
for shares of New Borrower’s Common Stock required to be delivered pursuant to the Merger Agreement issued in the name of Oxford and a certain Affiliate of Oxford, which stock certificates must be in such form and substance as are acceptable to
Oxford; and 

  

	 	f.	 No later than three (3) days after the Amendment Date, deliver to Collateral Agent (i) an executed
and complete Form W-9 for New Borrower and (ii) executed original amended and restated Secured Promissory Notes, PDF copies of which New Borrower shall deliver on the Amendment Date pursuant to
Section 4(g) above. 

  

	 	6.	 Representations and Warranties. Borrower and New Borrower hereby, jointly and severally, represent
and warrant to Collateral Agent and Lenders as follows: 

  

	 	a.	 Immediately prior to and after giving effect to this Amendment, (a) the representations and warranties
contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such
date), and (b) no Event of Default has occurred and is continuing; 

  
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	 	b.	 Borrower and New Borrower have the power and due authority to execute and deliver this Amendment and to
perform its obligations under the Loan Agreement, as amended by this Amendment; 

  

	 	c.	 The organizational documents of Borrower and New Borrower delivered to Collateral Agent, and updated
pursuant to subsequent deliveries by the Borrower to the Collateral Agent, if applicable, remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

  

	 	d.	 The execution and delivery by Borrower and New Borrower of this Amendment and the performance by Borrower
and New Borrower of their respective obligations under the Loan Agreement, as amended by this Amendment, do not and will not (i) contravene any material Requirement of Law applicable thereto, (ii) contravene any order, judgment or decree
of any Governmental Authority binding on Borrower or New Borrower, (iii) contravene the organizational documents of Borrower or New Borrower, or (iv) constitute an event of default under any material agreement by which Borrower or New
Borrower or any of their respective Subsidiaries, or their respective properties, is bound; 

  

	 	e.	 The execution and delivery by Borrower and New Borrower of this Amendment and the performance by Borrower
and New Borrower of their respective obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by
any Governmental Authority binding on Borrower or New Borrower; 

  

	 	f.	 This Amendment has been duly executed and delivered by Borrower and New Borrower and is the binding
obligation of Borrower and New Borrower, enforceable against Borrower and New Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar
laws of general application and equitable principles relating to or affecting creditors’ rights; and 

  

	 	g.	 This Amendment shall be construed in connection with and as part of the Loan Documents and all terms,
conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

 

	 	7.	 Release. In consideration of the agreements of the Collateral Agent and the Lenders set forth in this
Amendment, Borrower and New Borrower hereby release and forever discharge the Collateral Agent and the Lenders and each of the Collateral Agent’s and the Lenders’ respective predecessors, successors, assigns, officers, managers, directors,
employees, agents, attorneys, representatives and affiliates (collectively, the “Lender Group”) from any and all claims, counterclaims, demands, damages, debts, suits, liabilities, actions and causes of action of any nature
whatsoever, in each case to the extent arising in connection with any of the Loan Documents, through the date of this Amendment, whether arising at law or in equity, whether known or unknown, whether liability be direct or indirect, liquidated or
unliquidated, whether absolute or contingent, foreseen or unforeseen, and whether or not heretofore asserted, which Borrower or New Borrower may have or claim to have against any member of the Lender Group. As of the date hereof, Borrower and New
Borrower, jointly and severally, represent, warrant, acknowledge and confirm that they have no knowledge of any action, cause of action, claim, demand, damage or liability of whatever kind or nature, in law or in equity, against any member of the
Lender Group arising from any action by such Persons, or failure of such Persons to act under or in connection with any of the Loan Documents. 

  

	 	8.	 Without limiting the provisions of Section 2.5(d) of the Loan Agreement, Borrower and New Borrower
hereby agree to promptly pay (without duplication) all unpaid Lenders’ Expenses incurred through the date hereof, which may be debited (or ACH’d) from any of Borrower’s or New Borrower’s accounts. 

  
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	 	9.	 Miscellaneous. 

 

	 	a.	 Except as expressly set forth herein, the Loan Agreement shall continue in full force and effect without
alteration or amendment. The Borrower, New Borrower, Lenders and Collateral Agent agree that this Amendment shall be a Loan Document. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior
negotiations or agreements. 

  

	 	b.	 This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and
all of which, taken together, shall constitute one and the same instrument. 

  

	 	c.	 This Amendment and the rights and obligations of the parties hereto shall be governed by and construed in
accordance with the laws of the State of New York. 

 [Balance of Page Intentionally Left Blank]

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Consent and
Third Amendment to Loan and Security Agreement be executed as of the Amendment Date. 
  

			
	 BORROWER:
	  	
		
	 INHIBRX, LP
	  	
	 INHIBRX 101, LP
	  	
	 INHIBRX 104, LP
	  	
	 INBRX 105, LP
	  	
	 INBRX 106, LP
	  	
	 INBRX 107, LP
	  	
	 INBRX 108, LP
	  	
	 INBRX 109, LP
	  	
	 INBRX 110, LP
	  	
	 INBRX 111, LP
	  	
	 INBRX 112, LP
	  	

  

			
	 By: EFFICACY CAPITAL, LLC, as General Partner

		
	 By:
	 	 /s/ Mark Lappe

	 Name: Mark Lappe

	 Title: CEO

	
	 NEW BORROWER:

	
	 TENIUM THERAPEUTICS, INC.

		
	 By:
	 	 /s/ Mark Lappe

	 Name: Mark Lappe

	 Title: CEO

	
	 COLLATERAL AGENT AND LENDER:

	
	 OXFORD FINANCE LLC

		
	 By:
	 	 /s/ Colette H. Featherly

	 Name: Colette H. Featherly

	 Title: Senior Vice President

 EXHIBIT A 

Agreement and Plan of Merger 

[see attached] 
  

 AGREEMENT AND PLAN OF MERGER 

THIS AGREEMENT AND PLAN OF MERGER (this “Agreement”) is made and entered into on April 30, 2018,
by and among Tenium Therapeutics, Inc., a corporation organized under the laws of the State of Delaware (“Parent”), Inhibrx, LP, a limited partnership organized under the laws of the State of Delaware, Inhibrx 101, LP, a limited
partnership organized under the laws of Delaware, Inhibrx 104, LP, a limited partnership organized under the laws of Delaware, INBRX 105, LP, a limited partnership organized under the laws of Delaware, INBRX 106, LP, a limited partnership organized
under the laws of Delaware, INBRX 107, LP, a limited partnership organized under the laws of Delaware, INBRX 108, LP, a limited partnership organized under the laws of Delaware, INBRX 109, LP, a limited partnership organized under the laws of
Delaware, INBRX 110, LP, a limited partnership organized under the laws of Delaware, INBRX 111, LP, a limited partnership organized under the laws of Delaware, INBRX 112, LP, a limited partnership organized under the laws of Delaware, and Inhibrx
BioPharma, LLC, a limited liability company organized under the laws of the State of Delaware (each a “Target Party”, and collectively the “Target Parties”). 

WHEREAS, each of the Target Parties desire to merge with and into Parent, with Parent as the surviving entity; 

WHEREAS, the shareholders, members, partners, manager or board of managers and the board of directors, as applicable,
of each of Parent and the Target Parties have approved and declared advisable this Agreement, the Merger (as defined herein) and the transactions contemplated hereby upon the terms and subject to the conditions set forth herein; and 

WHEREAS, Parent and the Target Parties desire to make certain agreements in connection with the Merger. 

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements contained herein,
and intending to be legally bound hereby, Parent and the Target Parties hereby agree as follows: 
 1. THE MERGER 

1.1. The Merger; Effective Time Subject to the terms and conditions of this Agreement, and in accordance with and
pursuant to Section 252 of the Delaware General Corporation Law (the “DGCL”), Title 6, Section 18-209 of the Delaware Limited Liability Company Act and Title 6, Section 17-211 of the Delaware Limited Partnership Act, at the Effective Time (as defined below), each Target Party shall be merged with and into Parent (sometimes hereinafter referred to as the
“Surviving Corporation”) and the Surviving Corporation shall be the surviving corporation when the merger becomes effective and shall continue to exist as the surviving corporation pursuant to the provisions of the DGCL (the
“Merger”) and the separate existence of each Target Party shall cease. At the Closing (as defined below), the parties shall cause the Merger to be consummated by filing with the Secretary of State of the State of Delaware a
Certificate of Merger (the “Certificate of Merger”) in substantially the form attached hereto as Exhibit A (the date and the time of the acceptance of the filing or such later date and time as may be specified in the
Certificate of Merger being the “Effective Time”). 
 1.2. Closing. The closing (the
“Closing”) with respect to the transactions contemplated in Section 1.1 hereof shall take place at the offices of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., 3580 Carmel Mountain Road, Suite 300,
San Diego, CA 92130, on April 30, 2018, or at such other time and place as the parties may agree. 
 1.3. Certificate
of Incorporation; Name Change. Unless otherwise determined by Parent and the Target Parties: 
  

	 	1.3.1.	 at the Effective time, the Certificate of Incorporation of the Surviving Corporation shall be amended and
restated in substantially the form as set forth in the Certificate of Merger 

  
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(the “Certificate of Incorporation”) and said Certificate of Incorporation shall continue in full force and effect until amended and changed in the manner prescribed by the
provisions of the DGCL; and 

  

	 	1.3.2.	 the Certificate of Incorporation shall provide that Parent’s name shall be “Inhibrx, Inc.”

 1.4. By-Laws. The present bylaws of Parent will be the
bylaws of the Surviving Corporation and will continue in full force and effect until changes, altered, or amended as therein provided and in the manner prescribed by the provisions of the DGCL. 

1.5. Officers. The officers of the Parent at the effective Time shall be the officers of the Surviving Corporation. 

1.6. Board of Directors. The board of directors of the Parent at the Effective Time shall be: Mark Lappe as chairman,
Brendan Eckelman, Jon Faiz Kayyem, Margery Fischbein, Doug Forsyth and Judith Li. 
 1.7. Parent Stock. At the
Effective Time, all shares of Common Stock, $0.0001 par value per share (the “Common Stock”) issued and outstanding immediately prior to the Effective Time of the Parent held by Mark Lappe will be cancelled and will be of no further
force or effect and will no longer be outstanding. 
 1.8. Inhibrx, LP Class III Units. At the
Effective Time, all Inhibrx, LP Class III Units issued and outstanding immediately prior to the Effective Time (the “Class III Units”) will be cancelled and will be of no further force or effect and will no
longer be outstanding. 
 1.9. Inhibrx Shares and Property. At the Effective Time, automatically as a result of the
Merger and without further action required by any party hereto, (i) each partnership or membership interest unit held by all partners and members other than LAV Summit Limited (“LAV”), as applicable, of each Target Party, other
than the Class III Units, shall be converted into the number of shares of the class and series of the Surviving Corporation as set forth on Schedule A-1 hereto (the “Inhibrx Non-LAV Shares”), (ii) each partnership or membership interest unit held by LAV, as applicable, of each Target Party shall be converted into the number of shares of the class and series of the Surviving
Corporation as set forth on Schedule A-2 hereto and (iii) all property interests held by each Target Party, including but not limited to all of the Intellectual Property Interests (as defined
below) held, licensed, owned or under the control or the possession of or by or on behalf of each such Target Party, shall become the property of the Surviving Corporation free and clear of any encumbrances, liens or mortgages not in existence as
evidenced by written documentation entered into prior to the sixty (60) day period from the Effective Time (the “Asset Transfer”). No fractional Inhibrx Shares shall be issued, and all fractions shall be rounded to the nearest
whole Inhibrx Share. For purposes hereof, the term (1) “Intellectual Property Interests” means all rights, title and interests in and to all proprietary rights of every kind and nature however denominated, throughout the world,
including: (a) Patents, Software, copyrights, mask work rights, confidential information, trade secrets, Know-How, data, database rights, and all other proprietary rights in Embodiments; (b) Marks;
(c) rights of privacy and publicity and moral rights; (d) all rights to obtain, register, perfect and enforce these proprietary interests throughout the world, including all registrations, applications, recordings, licenses, common-law rights, statutory rights, and contractual rights; and (e) all actions and rights to sue at law or in equity for any past or future infringement or other impairment of any of the foregoing, including
the right to receive all proceeds and damages therefrom, and all rights to obtain renewals, continuations, divisions, or other extensions of legal protections pertaining thereto; (2) “Patents” means any and all national, regional
and international (a) issued patents and pending patent applications (including provisional patent applications), (b) patent applications filed either from the foregoing or from an application claiming priority to the foregoing, including all
provisional applications, converted provisionals, substitutions, continuations, continuations-in-part, divisions, renewals and continued prosecution applications, and
all patents granted thereon, (c) patents-of-addition, revalidations, reissues, reexaminations and extensions or restorations (including any supplementary protection
certificates and the like) by existing or future extension or restoration mechanisms, including patent term adjustments, patent term extensions, supplementary protection certificates or the equivalent thereof, (d) inventor’s certificates,
utility models, petty patents, innovation patents and design patents, (e) other forms of government-issued rights substantially similar to any of the foregoing, including so-called pipeline protection or
any importation, revalidation, confirmation or introduction patent or registration patent or patent of 

  
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additions to any of such foregoing, and (f) United States and foreign counterparts of any of the foregoing; (3) “Software” means computer software and databases, including
application programming interfaces (API), object code, source code, firmware and embedded versions thereof, data contained therein, and documentation related thereto; (4) “Know-How” means all
inventions, discoveries, data, compositions, formulas, biological materials, assays, reagents, constructs, compounds, information (including scientific, technical or regulatory information), procedures, processes, protocols, methods, techniques,
materials, technology, prototypes, results of experimentation or testing, analyses, laboratory, pre-clinical and clinical data, knowledge, trade secrets, skill and experience, or other know-how, in each case whether or not patentable or copyrightable or protectable as a trade secret, including any tangible embodiments of the foregoing; (5) “Embodiments” means all inventions,
works, discoveries, innovations, know-how, information (including ideas, research and development, formulas, algorithms, compositions, processes and techniques, data and databases (including pharmacological,
medicinal chemistry, biological, genetic, chemical, biochemical, toxicological and clinical test data, analytical and quality control data, stability data, chemistry and manufacturing controls data,
pre-clinical and clinical study data, records, and results, and all copies of data and databases), patient test results, medical images, medical records, and genomics data, laboratory notes and notebooks,
designs, drawings, specifications, customer and supplier lists, pricing and cost information, regulatory filings and Regulatory Approvals, business and marketing plans and proposals, graphics, illustrations, artwork, documentation, and manuals),
proprietary biologic, genetic, and other material, compounds, and substances, laboratory samples, product samples, Software (including source code, object code, firmware, and documentation related thereto), Systems, integrated circuits and
integrated circuit masks, electronic, electrical, and mechanical equipment, proprietary biological, chemical, or physical materials, and all other forms of technology, including improvements, modifications, works in process, derivatives, or changes,
whether tangible or intangible, embodied in any form, whether or not protectable or protected by patent, copyright, mask work right, trade secret law, or otherwise, and all documents and other materials recording any of the foregoing; (6)
“Marks” means all distinctive identifiers, including trademarks, service marks, trade dress, logos, trade names, corporate names, and other indicia of ownership, domain names, mnemonic (“vanity”) telephone numbers, social
media, blog, microblog, or messaging service names, handles, or accounts, or any other identifiers, whether registered or unregistered, together with all registrations, applications, translations, adaptations, derivations and combinations thereof,
and the goodwill and activities associated therewith; and (7) “Regulatory Approvals” means the technical, medical and scientific licenses, registrations, authorizations and approvals (including NDAs, MAAs, or approvals of BLAs, any
supplements and amendments, pre- and post- approvals, pricing and third party reimbursement approvals, and labeling approvals) of any Regulatory Authority, necessary for the commercial manufacture,
distribution, marketing, promotion, offer for sale, use, import, export or sale of a pharmaceutical product in a regulatory jurisdiction. 
  

	 	1.10.	 Tax Treatment. Parent and each Target Party hereby acknowledge and agree that the conveyance of the
Inhibrx Shares for partnership or membership interests or assets, as applicable, in each Target Party is intended to qualify as an exchange under Section 351 of the Internal Revenue Code of 1986, as amended, and for tax purposes is deemed to be
followed by the termination and liquidation of the Target Parties, and the distribution of the Inhibrx Shares to the respective members and partners in proportion to their partnership and/or membership interests. 

 

	 	1.11.	 [Reserved.] 

1.12. Representations and Warranties of the Target Parties. 

 

	 	1.12.1.	 Each Target Party has been duly organized, and is validly existing and in good standing (in the
jurisdictions that recognize the concept of good standing) under the laws of the jurisdiction of its incorporation or formation, as the case may be, and has all requisite power and authority and possesses all governmental licenses, permits,
authorizations and approvals necessary to enable it to use its corporate or other name and to own, lease or otherwise hold and operate its properties and other assets and to carry on its business as presently conducted and as currently proposed by
its management to be conducted, except where the failure to be in good standing, have such power or authority or possess such governmental licenses, permits, authorizations or approvals, individually or in the aggregate, has not been and would not
reasonably be expected to be material to such Target Party. Each Target Party is duly qualified or licensed to do business and is in good standing (in jurisdictions that recognize the concept of good standing) in each jurisdiction in which the
nature of its business or the ownership, leasing or operation of its properties makes such qualification or licensing necessary, other than in such jurisdictions where the failure to be so qualified or licensed or

  
 3 

	 	 
to be in good standing individually or in the aggregate has not been and would not reasonably be expected to be material to such Target Party. Each Target Party is not in violation of any of the
provisions of its constitutional and/or organizational documents. Each Target Party has transferred to Parent complete and accurate copies of the minutes (or, in the case of minutes that have not yet been finalized, drafts thereof) of all meetings
of equity-holders of such Target Party, the Boards of Directors or Managers of such Target Party, in each case held since the inception of each such Target Party. 

 

	 	1.12.2.	 Each Target Party has all requisite corporate power and authority to execute and deliver this Agreement and
to consummate the transactions contemplated by this Agreement. The execution and delivery of this Agreement by each Target Party and the consummation by such Target Party of the transactions contemplated by this Agreement have been duly authorized
by all necessary corporate action on the part of such Target Party and no other corporate proceedings on the part of such Target Party are necessary to authorize this Agreement or to consummate the transactions contemplated hereby. This Agreement
has been duly executed and delivered by each Target Party and constitutes a legal, valid and binding obligation of such Target Party, enforceable against such Target Party in accordance with its terms, subject to bankruptcy, insolvency, moratorium,
reorganization or similar laws affecting the rights of creditors generally and the availability of equitable remedies. The Board of Managers, Manager or General Partner of each Target Party, as applicable, at a meeting duly called and held at which
all such persons were present, duly and unanimously adopted resolutions (i) approving and declaring advisable this Agreement, the Merger and the other transactions contemplated by this Agreement, (ii) declaring that it is in the best
interests of the equity-holders of the Target Party that such Target Party enter into this Agreement and consummate the transactions contemplated by this Agreement on the terms and subject to the conditions set forth in this Agreement,
(iii) declaring that the terms of the Merger are fair to the Target Party and its equity-holders, (iv) directing that the adoption of this Agreement be submitted as promptly as practicable to a vote of the equity-holders of the Target
Party and (v) recommending that the equity-holders of the Target Party adopt this Agreement, which resolutions have not been subsequently rescinded, modified or withdrawn in any way. 

 

	 	1.12.3.	 The execution and delivery of this Agreement by each Target Party does not, and the consummation of the
Merger and the other transactions contemplated by this Agreement and compliance by such Target Party with the provisions of this Agreement will not, conflict with, or result in any violation or breach of, or default (with or without notice or lapse
of time, or both) under, or give rise to a right of, or result in, termination, cancellation or acceleration of any obligation or to the loss of a benefit under, or result in the creation of any Lien (as defined below) in or upon any of the
properties or other assets of such Target Party under, (i) any organizational documents of the Target Party, (ii) any loan or credit agreement, bond, debenture, note, mortgage, indenture, lease, supply agreement, license agreement,
development agreement, distribution agreement or other legally binding contract, agreement, obligation, commitment, arrangement, understanding, instrument, permit, franchise or license, whether oral or written (each, including all amendments
thereto, a “Contract”) to which such Target Party is a party or any of their respective properties or other assets is subject or (iii) subject to obtaining receipt of the equity-holder approvals, any (A) statute, law,
ordinance, rule or regulation applicable to such Target Party or their respective properties or other assets or (B) order, writ, injunction, decree, judgment or stipulation, in each case applicable to each Target Party. 

 

	 	1.12.4.	 Each Target Party exclusively owns, or has a valid license to, all Intellectual Property Interests of such
Target Party, in each case free and clear of all Liens (as defined below). Each Target Party exclusively owns, or has a valid license to use, all Intellectual Property Interests necessary for the operation of the business of such Target Party as
presently conducted, and each such Intellectual Property Interest will, immediately subsequent to the Effective Time, be owned or licensed for use by the Parent on the same terms with which such Target Party, immediately prior to the Effective Time,
own or have the license to use such item. For purposes hereof, the term “Lien” means pledges, liens, charges, encumbrances or security interests of any kind or nature whatsoever. 

 

	 	1.12.5.	 No Target Party has infringed, diluted, misappropriated or otherwise violated or is infringing, diluting,
misappropriating or otherwise violating (including with respect to the development, manufacture, distribution, advertising, use or sale by such Target Party of its products or services

  
 4 

	 	 
(whether or not such products are licensed to such Target Party) or of its Intellectual Property Interests) the rights of any person with regard to any Intellectual Property Interests.

  

	 	1.12.6.	 The execution and delivery of this Agreement by each Target Party does not, and the consummation of the
Merger and the other transactions contemplated by this Agreement and compliance by the Company with the provisions of this Agreement will not, conflict with, or result in any violation or breach of, or default (with or without notice or lapse of
time, or both) under, or give rise to a right of, or result in, termination, cancellation or acceleration of any obligation or to the loss of a benefit under, or result in the creation of any Lien in or upon, any Intellectual Property Interest that
is material to the conduct of the business of such Target Party, as presently conducted. 

 1.13.
Covenants. 
  

	 	1.13.1.	 In connection with the Merger, each member or partner receiving common stock, $0.0001 par value, of Parent
shall execute and deliver a Right of First Refusal and Co-Sale Agreement (the “Right of First Refusal Agreement”) in substantially the form attached hereto as Exhibit B and certain
members or partners shall execute and deliver an Investors’ Rights Agreement in substantially the form attached hereto as Exhibit C (the “Rights Agreement”) as a Key Holder. Each member or partner receiving Series
Mezzanine Preferred Stock shall execute and deliver the Right of First Refusal Agreement and Rights Agreement as an Investor. 

  

	 	1.13.2.	 In the event that Parent intends to sell additional shares of Series Mezzanine Preferred Stock after the
Effective Time (the “Subject Shares”) at a price per share that is less than the liquidation preference of the shares of Series Mezzanine Preferred Stock set forth in the Certificate of Incorporation as of the date hereof (the
“Charter”), then prior to any such sale of Subject Shares, Parent shall obtain the written approval of the Requisite Holders (as defined in the Charter) and upon receipt of such approval, Parent shall, concurrently with the issuance
of the Subject Shares, issue to each member, partner or manager receiving Series Mezzanine Preferred Stock pursuant to this Agreement an additional number of shares of Series Mezzanine Preferred Stock for no additional consideration such that the
aggregate liquidation preference of all shares of Series Mezzanine Preferred Stock issued to such member, partner or manager following such issuance equals the aggregate liquidation preference of all shares of Series Mezzanine Preferred Stock issued
as of the date of and pursuant to this Agreement to such member, partner or manager. 

  

	2.	 MISCELLANEOUS 

2.1. Amendment. This Agreement may not be amended except by written instrument executed on behalf of each of the parties
hereto. 
 2.2. No Waivers. 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. The rights and remedies herein provided shall be
cumulative and not exclusive of any rights or remedies provided by law. 
 2.3. Notices. All notices, requests,
consents and other communications required or permitted hereunder shall be in writing and shall be hand delivered or mailed postage prepaid by registered or certified mail, 

if to the Parent: 

11099 N. Torrey Pines Road, Ste. 280 

La Jolla, CA 92037 

Attention: Mark Lappe, CEO 

With a copy to: 

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 

3580 Carmel Mountain Road, Suite 300

San Diego, CA 92130 

Attention: Jeremy Glaser, Esq. 

Facsimile: (858) 314-1501 

  
 5 

 or at such other address as Parent or any Target Party each may specify by written notice to
the other parties hereto, and each such notice, request, consent and other communication shall for all purposes of the Agreement be treated as being effective or having been given when delivered if delivered personally, or, if sent by mail, at the
earlier of its receipt or 72 hours after the same has been deposited in a regularly maintained receptacle for the deposit of United States mail, addressed and postage prepaid as aforesaid. 

2.4. Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by
any of the parties hereto (whether by operation of law or otherwise) without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by the
parties and their respective successors and assigns. 
 2.5. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware, without regard to its conflict of law principles. 
 2.6.
Jurisdiction. Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any federal or state
court located in the State of California and each of the parties hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been
brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. 

2.7. Counterparts; Effectiveness. This Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, with the same effect as if all parties had signed the same document. All such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same instrument. This Agreement
shall become effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto. 

2.8. Entire Agreement. This Agreement (together with the documents and instruments delivered by the parties in
connection with this Agreement) contains the entire agreement among the parties hereto with respect to the subject matter hereof and thereof and such agreements supersede and replace all other prior agreements, written or oral, among the parties
hereto with respect to the subject matter hereof and thereof. 
 2.9. Severability. If any provision of this Agreement
shall be found by any court of competent jurisdiction to be invalid or unenforceable, the parties hereby waive such provision to the extent that it is found to be invalid or unenforceable. Such provision shall, to the maximum extent allowable by
law, be modified by such court so that it becomes enforceable, and, as modified, shall be enforced as any other provision hereof, all the other provisions hereof continuing in full force and effect. 

[SIGNATURE PAGES FOLLOW] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement and Plan
of Merger to be duly executed as of the day and year first above written. 
  

					
	 TENIUM THERAPEUTICS, INC.
	 	                 
	 	 INBRX 106, LP

		 		 	 By: Efficacy Capital, LLC, its general partner

			
	  
 Mark Lappe, Chief
Executive Officer
	 		 	
	 and Secretary
	 		 	
			
		 		 	  
 Mark
Lappe

		 		 	 Managing Member

	 INHIBRX, LP
	 		 	
	 By: Efficacy Capital, LLC, its general partner
	 		 	
		 		 	 INBRX 107, LP

By: Efficacy Capital, LLC, its general partner

			
		 		 	
	  
 Mark Lappe
	 		 	
	 Managing Member
	 		 	
		 		 	  
 Mark
Lappe

		 		 	 Managing Member

	 INHIBRX BIOPHARMA, LLC
	 		 	
		 		 	 INBRX 108, LP

		 		 	 By: Efficacy Capital, LLC, its general partner

			
	  
 Mark Lappe,
Manager
	 		 	
			
	 INHIBRX 101, LP
	 		 	  
 Mark
Lappe

	 By: Efficacy Capital, LLC, its general partner
	 		 	 Managing Member

			
	  
 Mark Lappe
	 		 	
	 Managing Member
	 		 	
			
	 INHIBRX 104, LP
	 		 	
	 By: Efficacy Capital, LLC, its general partner
	 		 	
			
	  
 Mark Lappe
	 		 	
	 Managing Member
	 		 	
			
	 INBRX 105, LP
	 		 	
	 By: Efficacy Capital, LLC, its general partner
	 		 	
			
	  
 Mark Lappe
	 		 	
	 Managing Member
	 		 	

	
	 INBRX 109, LP

	 By: Efficacy Capital, LLC, its general partner

	
	  
 Mark
Lappe

	 Managing Member

	
	 INBRX 110, LP

	 By: Efficacy Capital, LLC, its general partner

	
	  
 Mark
Lappe

	 Managing Member

	
	 INBRX 111, LP

	 By: Efficacy Capital, LLC, its general partner

	
	  
 Mark
Lappe

	 Managing Member

	
	 INBRX 112, LP

	 By: Efficacy Capital, LLC, its general partner

	
	  
 Mark
Lappe

	 Managing Member

 EXHIBIT B 

EXHIBIT A 
 Description of
Collateral 
 The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money,
leases, license agreements, franchise agreements, General Intangibles (except as noted below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts
and other Collateral Accounts, all certificates of deposit, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial
assets, whether now owned or hereafter acquired, wherever located; and 
 All Borrower’s Books relating to the
foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of
the foregoing. 
 Notwithstanding the foregoing, the Collateral does not include (i) any Intellectual Property;
provided, however, the Collateral shall include all Accounts and all proceeds of Intellectual Property if a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is
necessary to have a security interest in such Accounts and such property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent
necessary to permit perfection of Collateral Agent’s security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property; (ii) more than 65% of the total combined voting power of all
classes of stock entitled to vote the shares of capital stock (the “Shares”) of any Foreign Subsidiary, if Borrower demonstrates to Collateral Agent’s reasonable satisfaction that a pledge of more than sixty five percent (65%) of the
Shares of such Subsidiary creates a present and existing adverse tax consequence to Borrower under the U.S. Internal Revenue Code; Equipment or personal property subject to a Lien described in clause (c) of the definition of “Permitted
Liens” if the granting of a Lien in such Equipment or personal property is prohibited by or would constitute a default under the agreement governing such Equipment or personal property (but (A) only to the extent such prohibition is
enforceable under applicable law and (B) other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-408 or 9-409 (or any other Section) of Article 9 of the Code); provided that upon the termination, lapsing or expiration of any such prohibition, such Equipment or personal property, as applicable, shall automatically be
subject to the security interest granted in favor of Collateral Agent hereunder and become part of the “Collateral; (iii) the capital stock of INBRX 103, LLC and (iv) any license or contract, in each case if the granting of a Lien in
such license or contract is prohibited by or would constitute a default under the agreement governing such license or contract (but (A) only to the extent such prohibition is enforceable under applicable law and (B) other than to the
extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-408 or 9-409 (or any other Section) of
Division 9 of the Code); provided that upon the termination, lapsing or expiration of any such prohibition, such license or contract, as applicable, shall automatically be subject to the security interest granted in favor of Collateral Agent
hereunder and become part of the “Collateral.” 
 Pursuant to the terms of a certain negative pledge arrangement
with Collateral Agent and the Lenders, Borrower has agreed not to encumber any of its Intellectual Property. 

 EXHIBIT C 

Compliance Certificate 

EXHIBIT C 

Compliance Certificate 
  

			
	 TO:
	  	 OXFORD FINANCE LLC, as Collateral Agent and Lender

		
	 FROM:
	  	 TENIUM THERAPEUTICS, INC., anticipated to be renamed INHIBRX, Inc., a Delaware
corporation

 The undersigned authorized officer (“Officer”) of TENIUM THERAPEUTICS, INC.
(“Borrower”), hereby certifies that in accordance with the terms and conditions of the Loan and Security Agreement by and among Borrower, Collateral Agent, and the Lenders from time to time party thereto (as amended, restated, amended and
restated, supplemented and/or otherwise modified from time to time, the “Loan Agreement;” capitalized terms used but not otherwise defined herein shall have the meanings given them in the Loan Agreement), 

(a) Borrower is in complete compliance for the period ending
                         with all required covenants except as noted below; 

(b) There are no Events of Default, except as noted below; 

(c) Except as noted below, all representations and warranties of Borrower stated in the Loan Documents are true and correct in
all material respects on this date and for the period described in (a), above; 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. 

(d) Borrower, and each of Borrower’s Subsidiaries, has timely filed all required tax returns and reports, Borrower, and
each of Borrower’s Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower, or Subsidiary, except as otherwise permitted pursuant to the terms of Section 5.8 of
the Loan Agreement; 
 (e) No Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to
unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Collateral Agent and the Lenders. 

Attached are the required documents, if any, supporting our certification(s). The Officer, on behalf of Borrower, further
certifies that the attached financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes and
except, in the case of (x) unaudited financial statements, for the absence of footnotes and subject to year-end audit adjustments as to the interim financial statements and (y) monthly financial
statements, subject to Section 5.4 of the Loan Agreement. 
 Please indicate compliance status since the last Compliance Certificate by circling
Yes, No, or N/A under “Complies” column. 

															
	Reporting Covenant	  	Requirement	  	Actual	 	  	Complies
	 1)
	  	 Financial statements
	  	 Monthly within 30 days
	  				  	Yes	  	No	  	N/A
							
	 2)
	  	 Annual (CPA Audited) statements
	  	 Within 120 days after FYE
	  				  	Yes	  	No	  	N/A
							
	 3)
	  	 Annual Financial Projections/Budget (prepared on a monthly basis)
	  	 Annually (within 30 days following FYE), and when revised
	  				  	Yes	  	No	  	N/A
							
	 4)
	  	 A/R & A/P agings
	  	 If applicable
	  				  	Yes	  	No	  	N/A
							
	 5)
	  	 8-K, 10-K and 10-Q Filings
	  	 If applicable, within 5 days of filing
	  				  	Yes	  	No	  	N/A
							
	 6)
	  	 Compliance Certificate
	  	 Monthly within 30 days
	  				  	Yes	  	No	  	N/A
							
	 7)
	  	 IP Report
	  	 When required
	  				  	Yes	  	No	  	N/A
							
	 8)
	  	 Total amount of Borrower’s cash and cash equivalents at the last day of the measurement period
	  		  	 	$________	 	  	Yes	  	No	  	N/A
							
	 9)
	  	 Total amount of Borrower’s Subsidiaries’ cash and cash equivalents at the last day of the measurement
period
	  		  	 	 $________
	 	  	 Yes
	  	 No
	  	 N/A

 Deposit and Securities Accounts 

(Please list all accounts; attach separate sheet if additional space needed) 

 

													
	Institution Name	  	Account Number	  	New Account?	  	Account Control Agreement in place?
	1)	  	 	  	 	  	Yes	  	No	  	Yes	  	No
							
	2)	  	 	  	 	  	Yes	  	No	  	Yes	  	No
							
	3)	  	 	  	 	  	Yes	  	No	  	Yes	  	No
							
	4)	  	 	  	 	  	Yes	  	No	  	Yes	  	No

 Other Matters 

 

							
	 1)
	  	 Have there been any changes in management since the last Compliance Certificate?
	  	Yes	  	No
				
	 2)
	  	 Have there been any transfers/sales/disposals/retirement of Collateral or IP prohibited by the Loan Agreement?
	  	Yes	  	No
				
	 3)
	  	 Have there been any new or pending claims or causes of action against Borrower that involve more than Two Hundred Fifty
Thousand Dollars ($250,000.00)?
	  	Yes	  	No
				
	 4)
	  	 Have there been any amendments of or other changes to the capitalization table of Borrower and to the Operating Documents
of Borrower or any of its Subsidiaries (in each case, other than in connection with the Merger Agreement)? If yes, provide copies of any such amendments or changes with this Compliance Certificate.
	  	Yes	  	No

 Exceptions 

Please explain any exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions.” Attach
separate sheet if additional space needed.) 
 TENIUM THERAPEUTICS, INC. (anticipated to be renamed INHIBRX, Inc.) 

 

	
	 By:
                                         
                

	 Name:
                                         
           

	 Title:
                                         
             

 Date: 
  

			
	 LENDER USE ONLY

		
	 Received by:
                        
	 	 Date:
                        

		
	 Verified by:
                         
	 	 Date:
                        

	
	 Compliance
Status:            Yes                No

 EXHIBIT D 

Form of Secured Promissory Note 

[see attached] 

 AMENDED AND RESTATED SECURED PROMISSORY NOTE 

(Term [A][B][C][D] Loan) 
  

			
	
$                       
     
	  	Dated: [DATE]

 FOR VALUE RECEIVED, the undersigned, TENIUM THERAPEUTICS, INC., anticipated to be renamed
INHIBRX, Inc., a Delaware corporation with an office located at 11099 N. Torrey Pines Road, Suite 280, La Jolla, CA 92037 (“Borrower”) HEREBY PROMISES TO PAY to the order of OXFORD FINANCE LLC (“Lender”) the
principal amount of [                ] MILLION DOLLARS
($                    ) or such lesser amount as shall equal the outstanding principal balance of the Term [A][B][C][D]Loan made to
Borrower by Lender, plus interest on the aggregate unpaid principal amount of such Term [A][B][C][D] Loan, at the rates and in accordance with the terms of the Loan and Security Agreement dated March 31, 2015 by and among Borrower, Lender,
Oxford Finance LLC, as Collateral Agent, and the other Lenders from time to time party thereto (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Loan Agreement”). If not sooner
paid, the entire principal amount and all accrued and unpaid interest hereunder shall be due and payable on the Maturity Date as set forth in the Loan Agreement. Any capitalized terms not otherwise defined herein shall have the meaning attributed to
such term in the Loan Agreement. 
 Principal, interest and all other amounts due with respect to the
Term [A][B][C][D]Loan, are payable in lawful money of the United States of America to Lender as set forth in the Loan Agreement and this Amended and Restated Secured Promissory Note (this “Note”). The principal amount of this
Note and the interest rate applicable thereto, and all payments made with respect thereto, shall be recorded by Lender and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Note. 

The Loan Agreement, among other things, (a) provides for the making of a secured Term [A][B][C][D] Loan by Lender to
Borrower, and (b) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events. 

This Note may not be prepaid except as set forth in Section 2.2(c) and Section 2.2(d) of the Loan
Agreement. 
 This Note and the obligation of Borrower to repay the unpaid principal amount of the Term [A][B][C][D]
Loan, interest on the Term [A][B][C][D] Loan and all other amounts due Lender under the Loan Agreement is secured under the Loan Agreement. 

Presentment for payment, demand, notice of protest and all other demands and notices of any kind in connection with the
execution, delivery, performance and enforcement of this Note are hereby waived. 
 Borrower shall pay all reasonable fees
and expenses, including, without limitation, reasonable and documented attorneys’ fees and costs, incurred by Lender in the enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due. 

This Note shall be governed by, and construed and interpreted in accordance with, the internal laws of the State of New York.

 The ownership of an interest in this Note shall be registered on a record of ownership maintained by Lender or its agent.
Notwithstanding anything else in this Note to the contrary, the right to the principal of, and stated interest on, this Note may be transferred only if the transfer is registered on such record of ownership and the transferee is identified as the
owner of an interest in the obligation. Borrower shall be entitled to treat the registered holder of this Note (as recorded on such record of ownership) as the owner in fact thereof for all purposes and shall not be bound to recognize any equitable
or other claim to or interest in this Note on the part of any other person or entity. 
 This Note amends and restates in
its entirety that certain Secured Promissory Note issued under the Loan Agreement with respect to the Term [A][B][C][D] Loan, on [            ], in the original principal amount
of [                ]. 
 [Balance of Page
Intentionally Left Blank] 

     IN WITNESS WHEREOF, Borrower has caused this Note to be duly
executed by one of its officers thereunto duly authorized on the date hereof. 
  

	
	 BORROWER:

	
	 TENIUM THERAPEUTICS, INC.

	
	 By:
                                         
                           

	 Name:
                                         
                      

	 Title:
                                         
                        

 LOAN INTEREST RATE AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	 	 Principal

Amount
	 	 Interest Rate
	  	 Scheduled

Payment Amount
	  	 Notation ByEX-10.23

 Exhibit 10.23 

[Pursuant to Item 601(b)(10) of Regulation S-K, certain confidential portions of this exhibit have been omitted by means of marking such
portions with asterisks as the identified confidential portions (i) are not material and (ii) would be competitively harmful if publicly disclosed.] 

AMENDED AND RESTATED MASTER SERVICES AGREEMENT 

This Amended and Restated Master Services Agreement (“Agreement”) is dated August 28, 2018 (the “Restated
Effective Date”) and is between Inhibrx, Inc. (“Client”) and WuXi Biologics (Hong Kong) Limited (“Provider”). 

A. Client discovers and develops biologics. 

B. Provider coordinates the biologics development and manufacturing services that are provided by certain affiliated operating
companies. 
 C. The parties desire that Provider provides services to Client on a project-by-project basis. The services for each project (the “Services”) will be provided pursuant to a separate and distinct contract (a “Work Order”), each of which shall
incorporate the terms of this Agreement. 
 D. The parties entered into that certain Master Services Agreement dated as of
February 27, 2017 (the “Original Agreement”). 
 E. The Parties desire to amend and restate the Original
Agreement to include certain additional terms related to a period of time during which Client will exclusively use Provider for GMP manufacturing of human biotherapeutics, subject to certain limitations, terms and conditions set forth in this
Agreement. 
 The parties therefore agree as follows: 
  

	1.	 DEFINITIONS 

 

	1.1	 “Affiliate” of an entity means any other entity that directly or indirectly
Controls, is controlled by, or is under common Control with, the person. 

  

	1.2	 “Applicable Law” means all applicable laws, rules, regulations, including but not
limited to cGLP and cGMP and other official guidelines and directives relevant to the activities performed under this Agreement and/or the manufacture, storage, supply, use, marketing or sale of a Product. 

 

	1.3	 “Cell Line” means cell lines developed to produce Product. 

 

	1.4	 “Certificate of Analysis” means a certificate, complying with Applicable Law and,
that verifies that a Product meets the applicable Specifications, including the results of the analysis and testing of such Product, in a form agreed to by the parties. 

 

	1.5	 “Certificate of Compliance” means a document, in a form agreed to by the parties, issued by
Provider with respect to a batch of Product that certifies such Product’s conformance with the Specifications and manufacture in accordance with applicable standard operating procedures, master batch records, and Applicable Laws.

  

	1.6	 “cGLP” means the most current version of the good laboratory practice standards
promulgated by the FDA and ICH, as in effect on the Effective Date and as amended or revised after the Effective Date. 

  

	1.7	 “cGMP” means the most current version of the good manufacturing practice standards
promulgated by the FDA and ICH, as in effect on the date of manufacture or processing of Product and as amended or revised after the Effective Date. 

  

	1.8	 “Confidential Information” of a party means all information and materials disclosed
by or on behalf of such party (the “Disclosing Party”) to the other party (the “Receiving Party”) or its Related Persons (as defined 

  
 1 

	 	 
in Section 9.1) in connection with this Agreement that is reasonably considered to be confidential or proprietary. The Confidential Information of both parties includes the existence and
terms of this Agreement, and the nature of any dispute and the outcome of any arbitration proceedings arising out of or in connection with this Agreement. 

  

	1.9	 “Control” of an entity means (a) owning 50% or more of the voting securities or
other ownership interests of such or (b) otherwise having the power to direct the management or policies of such entity. 

  

	1.10	 “Discount Eligible Sublicensees” means a third party that [***] from Client or an
Affiliate of Client to [***] a Product that is the subject of a Discounted Project the Work Order for which is initiated on or after the Restated Effective Date or which [***] or obtaining of other rights by such third party occurs on or following
the Restated Effective Date. 

  

	1.11	 “Discounted Project” means a project for which the Services to be provided by under
the Work Order for such project include one or more of the following: [***], and services related to any of the foregoing; provided that projects directed to [***] Products are excluded from the Discounted Projects. 

 

	1.12	 “Documentation” means (a) any written or electronic documentation to be
provided by Provider to Client for the purpose of registering a Product before national or regional authorities, including without limitation any information as is required for the Chemistry, Manufacturing and Controls (“CMC”)
section of an Investigational New Drug application (or a similar application filed with a regulatory authority in any jurisdiction outside the United States, each an “IND”) or New Drug Application (or a corresponding application
filed with a regulatory authority in any jurisdiction outside the United States, each an “NDA”) or Biologics License Application (or a corresponding application filed with a regulatory authority in any jurisdiction outside the
United States, each a “BLA”) for such Product and the master batch record, and (b) any other written or electronic documentation to be provided by Provider to Client as specified in a Work Order. 

 

	1.13	 “EMA” means the European Medicines Agency or any successor agency thereto.

  

	1.14	 “FDA” means the United States Food and Drug Administration or any successor agency
thereto. 

  

	1.15	 “ICH” means the International Conference on Harmonisation of Technical Requirements
for Registration of Pharmaceuticals for Human Use or any successor agency thereto. 

  

	1.16	 “Integrated Project” means a Discounted Project that includes at least cell line
development, cell culture and purification development and biologics manufacturing (non-cGMP and/or cGMP). 

  

	1.17	 “Intellectual Property” means any data, results, inventions, know-how, trade secrets, computer software programs and other proprietary information, and all rights and intellectual property rights therein and thereto, including patents and patent applications, trademarks,
trade names, service marks, domain names, copyrights and copyright applications and registrations, schematics, and industrial models. 

  

	1.18	 “Original Effective Date” means February 27, 2017. 

 

	1.19	 “Product” means the product, or a part or derivative of the product, described in a
Work Order that is to be manufactured by Provider through the Services or to be produced by a Cell Line. 

  

	1.20	 “Quality Agreement” is defined in Section 1.2 of Exhibit B.

  

	1.21	 “Regulatory Authority” means the FDA, the EMA, or each of their successors, and any
equivalent foreign regulatory authorities (whether national, supra-national or local) with competent jurisdiction over a Product, 

  
 2 

	 	 
including the manufacturing, marketing, price and/or price reimbursement of or for a Product or any other governmental authority with jurisdiction over either party. 

 

	1.22	 “Tech Transfer Project” means a Discounted Project that does not include cell line
development and cell culture and purification development, but includes biologics manufacturing (non cGMP and/or cGMP). 

  

	2.	 SERVICES 

  

	2.1	 Work Orders. Provider shall provide the Services to Client pursuant to each Work Order that is
entered into by the parties during the term of this Agreement. The preferred form of Work Order is provided in Exhibit A. Each Work Order will automatically incorporate the terms and conditions of this Agreement, and this Agreement together
with each Work Order (including any attachments or schedules thereto), but separate and apart from any other Work Order, shall constitute the entire agreement between the parties for the performance of any Services defined in the applicable Work
Order. If there is a contradiction between a provision of this Agreement and a Work Order, then the provision in this Agreement will take precedence unless the Work Order specifically states that it takes precedence over the provision. Each Work
Order shall be binding on the parties only if signed by an authorized representative of Client and Provider. 

  

	2.2	 Manufacturing. Certain manufacturing terms are provided in Exhibit B. 

 

	2.3	 Subcontracting; Affiliates 

 

	 	(a)	 Provider shall not subcontract or delegate any of the Services to any third party without Client’s
prior written consent, except Provider may delegate or subcontract the Services to an Affiliate listed in Exhibit C. If the Services are provided by an Affiliate or any other third party, then references to Provider in this Agreement will be
deemed to also include the Affiliate or such third party with the necessary modifications. Provider shall be liable for the performance of the Affiliate or such third party to the same extent as if the performance was that of Provider.

  

	 	(b)	 An Affiliate of a party may enter into a Work Order instead of the party. If a Work Order is entered into by
an Affiliate, then references to the party in this Agreement will be deemed to be references to the Affiliate with the necessary modifications. The party shall be liable for the performance of the Affiliate to the same extent as if the performance
was that of the party. 

  

	3.	 EXCLUSIVITY 

 

	3.1	 Exclusivity Period. For three (3) years from the Restated Effective Date (“Exclusivity
Period”), Client agrees, subject to the terms and condition of this Agreement, to exclusively use Provider as its cGMP manufacturer for its human biologics therapeutics for which Client plans to first initiate clinical studies outside of
China. The foregoing exclusivity is conditioned upon and subject to: (i) Provider’s ability to provide Services and Products in accordance with this Agreement (including the Quality Agreement) and the applicable specifications, in the
quantities, and on the timeframes reasonably requested by Client; (ii) this Agreement not having been terminated by Client; (iii) Client’s right to engage a second-source and/or back-up supplier
for any and all Products; and (iv) Client’s sublicensees’ right to utilize their own development and manufacturing resources, including third party resources. In addition, the foregoing exclusivity shall not apply to Client’s
programs or Products designated “INBRX101” or “INBRX110.” 

  

	3.2	 Priority Treatment. During the Exclusivity Period, Provider and its affiliates will provide Client
priority in lead time for all Integrated Projects and Tech Transfer Projects. All Integrated Projects shall be initiated no less than [***] ([***]) [***], and all Tech Transfer Projects shall be initiated [***] ([***]) [***], of entry into the
relevant Work Order. 

  
 3 

	3.3	 Exclusivity Expiration. Upon expiration of the Exclusivity Period, Client will have the option, in
its sole discretion and any time, to convert Provider’s manufacturing appointment for Products subject to the exclusivity set forth in Section 3.1 from exclusive to non-exclusive and (i) grant
an Affiliate, sublicensee, subcontractor or any other third party the right to manufacture Products for Client, and/or (ii) manufacture Products for itself. 

 

	3.4	 Tech Transfer. For any Product to which the exclusivity set forth Section 3.1 applies, at any
time after expiration of the Exclusivity Period, and for any Product not subject to the exclusivity set forth in Section 3.1 or in furtherance of Client’s right to engage a second-source and/or
back-up supplier for any and all Products at any time, Client may provide Provider with a written of “Transfer Election.” Upon receipt of a Transfer Election notice, Provider shall, with the
respect to the Product or Products that are the subject of the Transfer Election: (a) transfer to Client or Client’s designee all know-how, information, techniques, methods processes, data,
documentation and other intangible technology and (b) provide technology transfer assistance to Client, or to Client’s designee, including assistance to procure such equipment and other tangible materials, in each case as is reasonably
necessary or useful for Client or its designee to conduct the manufacturing process(es) for the Product. In connection with such transfer Provider shall assist Client or its designee to implement and establish such manufacturing process(es) at
Client or its designee’s facility, including by making employees of appropriate skill and experience available to Customer or its designee to consult with and assist Client or its designee in such implementation. After such transfer, Provider
shall comply with Client’s reasonable supplemental requests for information necessary or useful for such implementation of such manufacturing process(es). Unless otherwise set forth in the applicable Work Order or agreed by the parties in
writing, Client will reimburse Provider for all reasonable and documented time spent by Provider’s personnel to perform activities set forth in this Section (on an FTE basis) and reasonable out-of-pocket costs incurred by Provider to perform activities set forth in this Section. 

  

	4.	 SERVICE FEE; PAYMENT 

 

	4.1	 Service Fee. Client shall pay Provider a service fee in the amount and manner provided in the
applicable Work Order (the “Service Fee”) for the Services rendered by Provider in accordance with the terms and conditions of this Agreement and the applicable Work Order. The Service Fee shall be charged in accordance with a fixed-sum or other pricing structure as stated in the applicable Work Order. A fixed-sum Service Fee is a fixed amount based on the estimated cost of the Services. The Service
Fee is exclusive of any and all applicable taxes of any nature imposed by or under the authority of any governmental authority on sale of services to the Client (such as sales, services and consumption taxes). 

 

	4.2	 Discounted Projects. 

 

	 	(a)	 During the Exclusivity Period, Provider and its affiliates shall provide reduce the price of Services on all
Discounted Projects from the price set for in Exhibit D by the greatest applicable percentage, based on the aggregate number of Integrated Projects and Tech Transfer Projects for which Client has engaged Provider or its Affiliates
(“Discount”): 

  

					
	 [***] Integrated Projects or Tech Transfer Projects
	  	 	[	***]% 
	 [***] Integrated Projects or Tech Transfer Projects
	  	 	[	***]% 
	 [***] Integrated Projects or Tech Transfer Projects
	  	 	[	***]% 
	 [***] Integrated Projects or Tech Transfer Projects
	  	 	[	***]% 

  

	(b)	 The Discount shall apply to Services to be provided under Work Orders existing as of the Restated Effective
Date (including on WBP2101, WBP2102, WBP2133 and WBP492), and the projects that are the subject of Work Orders existing as of the Restated Effective Date shall be included in the 

  
 4 

	 	 
count of Integrated Projects and Tech Transfer Projects to determine the applicable Discount tier in accordance with paragraph (b) above. No retroactive discounts for Services provided prior
to the Restated Effective Date will be given. 

  

	 	(c)	 For clarity, the Discount shall not apply to [***] of (i) [***] required for Services (e.g., [***],
or (ii) the direct cost of approved, non-Affiliated third-party subcontrators on Integrated Projects (provided that any such subcontracting shall require the consent of Client (in Client’s sole
discretion)). 

  

	 	(d)	 Discounts available to Client under this Agreement shall be directly available to Discount Eligible
Sublicensees, subject to such Discount Eligible Sublicensee’s contracting directly with Provider and that the services provided under such contract with the Discount Eligible Sublicensee is anticipated to [***] ([***]) [***]. In addition,
Provider will permit any Discount Eligible Sublicensees to place orders for Products on the same terms and conditions, with the same Discount, applicable to Client. 

 

	4.3	 Price Increases. Provider may not increase the price of Services from the price set forth on
Exhibit D for such Services for [***] ([***]) months from the Restated Effective Date. After [***] ([***]) months from the Restated Effective Date, Provider may not increase the price for any Services set forth on Exhibit D by more
than [***] percent ([***]%) in any consecutive [***] ([***]) months period for any Services under a Work Order initiated prior to expiration of the Exclusivity Period. The price for any Services not explicitly listed Exhibit D will be
mutually agreed by the parties as needed in the applicable Work Order (or otherwise), in good faith and acting reasonably, taking into account terms previously agreed upon by the parties for such services for other projects. 

 

	4.4	 Expenses. Client shall reimburse Provider for reasonable out-of-pocket expenses that are (a) pre-authorized by Client in writing, (b) described in the applicable Work Order as an expense to be reimbursed by Client,
or (c) described in Sections 6.1, 6.3, 7.3, 8.1(b), 10.3 and 13 as an expense to be reimbursed by Client. 

  

	4.5	 Milestones. If a Work Order includes a payment for completion of a project stage or other kind of
milestone, including any delivery of a deliverable (including any Documentation or Product) (“Deliverable”), then Provider shall notify Client promptly in writing after the milestone is achieved. Client will have [***] ([***]) [***]
to review and verify that the milestone meets the requirements agreed to by the parties. If Client rejects a milestone due to non-compliance, then Provider will promptly
re-perform the rejected milestone at no additional charge to Client. Client will be deemed to have agreed that the milestone was achieved unless it notifies Provider otherwise within the [***] ([***]) [***]
period. Each milestone payment is designed to reflect fair value of the corresponding Services, and is not dependent on any other milestone unless otherwise specified in the Work Order. If Provider is unable to
re-perform the milestone within a reasonable period time, then Client may terminate the applicable Work Order and receive a refund of all fees paid for the applicable Work Order. If any Deliverable is a
Product, then Section 3 of Exhibit B shall apply. 

  

	4.6	 Payment. Client shall pay each of Provider’s undisputed invoices within [***] of receipt by wire
transfer to the account designated by Provider. Payment must be made without set-off or other deduction of any nature. 

 

	4.7	 Payment Default. In the event of an undisputed overdue payment (a “Payment
Default”), (a) interest of [***]% will be accrued daily ([***]% per annum) of the overdue payment as of the date of the Payment Default and (b) if such Payment Default exceeds [***] ([***]) [***], Provider may, with prior notice to
Client, suspend the provision of the Services until the Payment Default is rectified by Client. If the Payment Default is not rectified within 30 days after notice of default is provided to Client, then it will be deemed an uncured material breach
of the applicable Work Order, and Provider may terminate the Work Order pursuant to Section 12.2(b). 

  
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	4.8	 The Service Fee agreed to by the parties, subject to the Discount, will remain in place for the
entire duration of each Work Order. There will be no price adjustment with respect to each Work Order unless agreed by both parties. 

  

	4.9	 Currency. Client will pay the Service Fee in US dollars. There is no adjustment to the Service Fee
based on any currency fluctuation. 

  

	5.	 PROVISION OF SERVICES 

 

	5.1	 Specifications. Provider shall provide the Services at the Facility and deliver the deliverables
described in the applicable Work Order in accordance with the terms and conditions of this Agreement, the Quality Agreement (if applicable), and the applicable Work Order, including the specifications of the applicable Work Order, in a professional
and workmanlike and timely manner. 

  

	5.2	 Qualifications. Provider shall ensure that the persons that provide the Services (the
“Personnel”) (a) have demonstrated and documented the appropriate skills, training and experience and (b) are bound by confidentiality obligations consistent with the terms of this Agreement. 

 

	5.3	 Compliance. Provider shall provide the Services in compliance with Applicable Law.

  

	5.4	 On-Site Monitoring. Representatives of Client may, upon
reasonable notice and at times reasonably acceptable to Provider, visit the facilities where the Services are provided and consult informally during such visits with appropriate Personnel in order to monitor the Services. The representatives will be
bound by rules applicable to the facilities and may, at the reasonable discretion of Provider, be prohibited from entering or only given limited access to certain areas within the facilities. This access will not be unreasonably withheld. Provider
may require that Client or the representatives execute an agreement containing reasonable terms that regulate the representatives’ conduct during their visit. Client shall be responsible for its own expenses incurred in connection with such
visits. 

  

	6.	 SOURCING OF MATERIAL 

 

	6.1	 Materials. Provider shall, as specified in the applicable Work Order, purchase all materials
necessary for the Services (the “Materials”). Client may elect to: (a) supply, at its expense, certain or all of the Material to Provider, in which case Provider shall take the inventory risk of the selected materials; Provider
shall do the market research and propose a name list of vendors in compliance with Applicable Law and applicable cGLP and cGMP; or (b) amend the applicable Work Order to permit the use of a commercially available substitute. Provider shall
comply with Applicable Laws pertaining to assessing and qualifying vendors supplying the Materials and ensure that the Materials comply with the terms and conditions of this Agreement, Applicable Law, and the applicable Work Order, including by
regularly auditing such vendors. 

  

	6.2	 Client Materials. If a Material is to be supplied by Client (a “Client Material”),
then Client shall provide the Client Material at its expense in a timely manner and provide such information in Client’s possession as requested by Provider or required by Applicable Law concerning the stability, storage and safety
requirements. Client will retain title to Client Materials at all times. Provider shall ensure that the Client Material will be (a) used solely for the purpose of providing the Services, (b) only distributed to Personnel on a need-to-know basis for the provision of the Services and (c) preserved and protected from loss or damage and in a manner consistent with the specifications of the
applicable Work Order and any relevant standard operating procedures or other instructions provided by Client. Provider will not attempt to reverse engineer, deconstruct, or in any way determine the structure, composition nucleotide or amino acid
sequences of the Client Materials. Provider understands that the Client Materials may have unpredictable and unknown biological and/or chemical properties, that they are to be used with caution, and that they are to be used in accordance with
Applicable Law. Provider will fully compensate Client for any loss or damage to Client 

  
 6 

	 	 
Material caused by Provider’s willful or negligent acts or omissions or failure to comply with this Section to the extent the cost of such Client Material is reasonably verifiable.

  

	6.3	 Unused Client Materials and Other Materials. Provider shall, at Client’s option and expense,
return, destroy or otherwise dispose of unused Client Materials promptly after the earlier of (a) completion of the Services for which the Client Materials were provided, (b) termination of the applicable Work Order, or (c) receipt of
written instructions from Client pertaining to their disposition. Upon completion of the Services and thirty (30) days advance notice to Client, Provider may dispose of other unused Materials (but not Client Materials) at its sole discretion
unless otherwise instructed by Client, otherwise providing in the applicable Work Order, or otherwise stated herein, including for the purpose of complying with any record or material retention requirements. 

 

	7.	 RECORDS AND AUDIT 

 

	7.1	 Record Storage. Provider shall prepare and maintain records related to the Services and the
manufacture, handling and storage of Product as required by the Specifications, Quality Agreement, applicable Work Order and/or Applicable Law, including batch and other records sufficient to trace the history of each batch of Product. In addition,
Provider shall, as required by the Specifications, applicable Work Order, Quality Agreement and/or Applicable Law retain representative samples from each batch of Product, for record keeping, stability testing and other purposes. All records,
materials, test results, data and documentation, including Documentation, obtained or generated by Provider in the course of providing the Services, including all computerized records and files (“Records”), will be maintained in a
secure area in accordance with Applicable Laws, the Quality Agreement, and industry standards. The Records are the sole and exclusive property of Client and may be used by Client without any restriction. All Records will be kept in English. Upon
Client’s request, Provider shall provide Client reasonable access to, and copies of, such Records and samples. 

  

	7.2	 Retention. Provider shall retain the Records for [***] ([***]) [***] after completion of the Work
Order or such longer period as required below. Prior to destruction of any Record, Provider shall give [***] written notice to Client, and Client may elect during the [***] period to have the Records transferred to it or its designee. If Client does
not wish to receive them, then Provider may destroy the Records. Notwithstanding the foregoing, the Records must be retained as required by Applicable Law or as otherwise necessary for regulatory or insurance purposes. 

 

	7.3	 Client Audit. Provider will give Client and its representatives reasonable access to the Records and
Facility during normal business hours and upon reasonable notice for inspection, at a reasonable frequency (twice a year if not for cause, required by Applicable Law or otherwise requested by a regulatory agency) copying and/or to verify that the
Services are being performed in accordance with this Agreement, applicable Work Order, the Quality Agreement and Applicable Laws. Provider will promptly remedy any noncompliance, deviations, deficiencies, and/or failures caused by or within the
control of Provider (“Issues”) discovered during such audit at no additional charge to Client. Provider may require that Client or its representatives execute an agreement that reasonably regulates their conduct during the audit
with respect to confidential or proprietary information of Provider or Environment, Health, and Safety policies of Provider. Client shall be responsible for all its own expenses incurred in connection with such audit. 

 

	7.4	 Regulatory Inspection. In the event Provider receives any notice or request from a Regulatory
Authority to inspect the Facility where the Services are being performed or the Records, including but not limited to any notice of intent to inspect, notice of inspection, notice of observations, warning letter, or other written communication,
Provider shall promptly notify Client in writing upon learning of such, and shall supply Client and its representatives with copies of any relevant correspondence and other relevant documentation related to such inspection and Product involved.
Provider will cooperate with any such inspection by a Regulatory Authority. Client may send representatives to such Facility and may participate in those portions of such inspection where Product-related topics will be discussed. Client will be
provided copies of and may review and comment on Provider’s responses to Regulatory Authority inquiries prior to submission to 

  
 7 

	 	 
Regulatory Authority. Provider shall take prompt steps to address, in consultation with Client, and correct any material concerns raised by such inspections. 

 

	7.5	 Report. Without limiting any obligations of Provider to deliver to Client the applicable
Documentation and other reports under a Work Order, Provider agrees to provide Client with a report, upon completion or termination of the applicable Services, describing in detail the procedures and results obtained in connection with synthesizing,
analyzing, developing, testing and/or manufacturing the applicable Product(s), including, without limitation, the applicable manufacturing process(es), and all Project IP (as defined in Section 7.1(b) below). Each such report will contain
sufficient detail so that Client can understand and fully implement and exploit on its own the information described therein, including such information as is required for the CMC section of an IND or NDA for such Product and the master batch
record. To the extent such information has been previously disclosed in such detail to Client in the Documentation otherwise provided to Client, Provider may reference such Documentation to comply with its reporting obligations under this
Section 6.5ed. Upon request by Client from time to time and at Client’s expense, Provider will provide reasonable assistance to Client to understand and implement the information contained in any such report. 

 

	8.	 INTELLECTUAL PROPERTY 

 

	8.1	 Ownership 

  

	 	(a)	 Except as otherwise provided in this Agreement, (i) Provider has no rights in any Intellectual Property
that is owned by or licensed to Client or any of its Affiliates (“Client IP”) and (ii) Client has no rights in any Intellectual Property that is owned by or licensed to Provider or any of its Affiliates prior to or independent
of this Agreement (“Provider IP”). 

  

	 	(b)	 All Intellectual Property conceived, created, developed, or reduced to practice by Provider or its Personnel
in the course of providing the Services (“Project IP”) shall be solely and exclusively owned by Client. Provider shall ensure that each of the Personnel vests in Provider any and all rights that such person might otherwise have in
the Project IP. Provider hereby assigns, and shall assign, all right, title and interest in Project IP to Client. Client will, at its expense, have sole control of filing and prosecuting applications for, and maintenance and enforcement of, patents
for Project IP. Upon Client’s request, Provider shall, at Client’s expense, use reasonable efforts to assist Client to obtain, maintain and enforce the patents, including executing any assignments and other necessary documentation. Client
shall promptly notify Provider of any patents granted for Project IP. Provider is responsible for all payments to be made to Personnel in accordance with Applicable Law requiring remuneration for inventions. 

 

	 	(c)	 Notwithstanding the foregoing, Intellectual Property created or developed in connection with the provision
of the Services (i) that relates to generally applicable experimental methods (“Experimental Methods IP”), (ii) that relates to generally applicable manufacturing processes developed solely at Provider’s expense
(“Manufacturing Improvements”) or (iii) that is derivative of Provider IP (“Provider Derivative IP”) be solely and exclusively owned by Provider and considered Provider IP and not Project IP; except that
Experimental Methods IP, Manufacturing Improvements and/or Provider Derivative IP shall not be Provider IP and shall be Project IP if it is (x) not independent of the Product (y) is a process, analytical method, or formulation to be
developed under this Agreement, provided that any Intellectual Property that, or (z) is dependent on or specific to Product, or constitutes a process or formulation to be developed under this Agreement. 

 

	8.2	 General Licenses 

 

	 	(a)	 Client hereby grants on behalf of itself and its Affiliates, to Provider and its Affiliates a non-exclusive, fully-paid, royalty-free, non-transferable (except with permitted assignment of this 

  
 8 

	 	 
Agreement), limited right and license to use Client IP and Project IP solely for the purpose of providing the Services during the term of this Agreement. 

 

	 	(b)	 Provider hereby grants, and shall ensure that each applicable Affiliate will promptly grant, to Client and
its Affiliates a non-exclusive, fully-paid, royalty-free, nontransferable (except with permitted assignment of this Agreement), perpetual, worldwide, irrevocable, right and license (including the right to
grant and authorize sublicenses) to use Provider IP other than Manufacturing Improvements for the sole purpose of using the Deliverables and for developing, making, having made, using, selling, offering for sale, importing and exporting the Products
during and after the term of this Agreement. Provider shall, at the request of Client, negotiate in good faith mutually agreeable terms for the grant of right and license to Client or its designee under Manufacturing Improvements for the purpose of
using the Deliverables and for developing, making, having made, using, selling, offering for sale, importing and exporting the Products. 

  

	7.3	 [***]-Cell Line License. If Client elects to use Provider’s proprietary [***]-Cell Line
(the “Cell Line”) for the manufacture of Product by Client or a third party, then Client shall purchase and Provider shall grant to Client and its Affiliates a worldwide, fully paid-up, royalty free,
irrevocable, perpetual, non-exclusive license (with the right to grant and authorize sublicenses) to use and otherwise exploit the Cell Line for the purposes of researching, developing, making, having made,
selling, offering for sale, importing, exporting, and commercializing the Product (the “License”), which election shall be made no later than Client’s initiation of manufacturing of proteins for use in Product to support Phase
1 studies for such Product. If desired by Client, Client shall request a License in writing, at which point, the License shall be deemed granted by Provider to Client, and the Client shall pay a license fee within [***] days of receipt of an invoice
from Provider as follows: (1) [***]. Provider represents and warrants that it has the full right, power and authority to grant all of the right, title and interest in the license granted under this Section and that to its knowledge, the Cell Line
(including use thereof) does not infringe or misappropriate any intellectual property rights of any third party. Upon grant of the License and Client’s request, Provider shall transfer the Cell Line to Client or Client’s designee. Under no
circumstances, would Client be allowed to perform any cell line engineering activities, such as over expression, deletion or modification of any genes, or genome sequences on the Cell Line, provided that the foregoing shall not limit any activities
used in the manufacture Product. 

  

	9.	 REPRESENTATIONS AND WARRANTIES 

 

	9.1	 Mutual. Each party represents and warrants that (a) it validly exists under the laws of the
jurisdiction in which it was organized, (b) it has the full power, right and authority to execute and deliver this Agreement and to perform its obligations under this Agreement, (c) this Agreement once executed will constitute a legal,
valid and binding agreement enforceable against it and (d) its performance of this Agreement will not conflict with any obligations it may have to any other person. 

 

	9.2	 Infringement. Each party represents and warrants that, to the best of its knowledge, the Services
will not infringe or misappropriate the Intellectual Property rights of any third party. 

  

	9.3	 Debarment. Provider represents and warrants that neither it nor any of the Personnel has been
debarred, or, to the best of its knowledge, is under consideration for debarment, by the FDA from working in or providing services to any pharmaceutical or biotechnology company pursuant to the Generic Drug Enforcement Act of 1992 or any other
Regulatory Authority pursuant to analogous laws and Provider will not use any Personnel who has been debarred in performing the Services for Client. Provider shall promptly notify Client in writing if any such proceedings have commenced or if
Provider or any of its Personnel or subcontractors are debarred by the FDA or other Regulatory Authority. 

  

	9.4	 Compliance with Law. Each party (a) represents and warrants that neither it nor any of its
Affiliates violated any Applicable Law in connection with actions leading up to entry into this Agreement or any Work Order and (b) shall, and shall ensure that each applicable Affiliate will, comply with all Applicable Law in

  
 9 

	 	 
connection with performance of this Agreement and any Work Orders. Each party shall immediately notify the other party upon becoming aware of a breach of this Section. Breach of this Section with
respect to the U.S. Foreign Corrupt Practices Act or any other anti-bribery law will be deemed an incurable material breach for purposes of Section 11.2(b). 

 

	9.5	 Services, Deliverables and Products. Provider represents and warrants that (i) it has all
necessary permits, licenses, registrations and government authorizations as may be necessary under Applicable Law to perform the Services, (ii) the Services will be performed in accordance with this Agreement, the Quality Agreement, Applicable
Laws, and the applicable Work Order, (iii) the Facility where the Services are to be performed is adequately equipped with equipment, space, and infrastructure to provide the Services, (iv) all equipment used in the manufacture of Product
will comply with the requirements of Applicable Law and (v) the Deliverables and Products will be free and clear of all liens, encumbrances, security interests and other claims when delivered to Client. 

 

	9.6	 Disclaimer. Except as expressly set forth herein, Client makes no representations or warranties of
any kind, express or implied, with respect to the Client Materials or any information provided hereunder. 

  

	10.	 INDEMNIFICATION; LIMITATION ON LIABILITY; INSURANCE 

 

	10.1	 Third Party Claims. Subject to Section 10.3, Each party shall defend, indemnify and hold the
other party and its Affiliates and its and their directors, partners, officers, employees, agents and consultants and legal, financial, accounting and other advisors (“Related Persons”) harmless from and against any and all
liabilities, damages, and expenses (including reasonable attorneys’ fees) (“Losses”) resulting from any third party claims, demands, suits or proceedings (“Claims”) to the extent arising out of or relating to
(a) in the case that Provider is the indemnifying party, its performance of the Services, , (b) in the case that Client is the indemnifying party, its use of Project IP or Deliverables produced under a Work Order, (c) a material breach of
this Agreement by the indemnifying party, (d) a violation of Applicable Law by the indemnifying party or any of its Related Persons or (e) the negligence, recklessness or willful misconduct of the indemnifying party or any of its Related
Persons during the course of activities carried out in connection with this Agreement. The indemnification obligations set forth in this Section 9.1 do not apply to the extent that the Loss arises in whole or in part from (i) the
negligence, recklessness or willful misconduct of the indemnified party or any of its Related Persons, (ii) breach of this Agreement by the indemnified party, or (iii) events for which the indemnified party is responsible for indemnifying
the other party under this Agreement. 

  

	10.2	 Intellectual Property Claims. Subject to Section 10.3, Client shall defend, indemnify and hold
Provider and its Related Persons harmless from and against Losses resulting from Claims arising out of or related to infringement by Client of any Intellectual Property rights relating to the Services or the Product except to the extent such Claims
are based on Provider IP, the Cell Line and any manufacturing process that is independent of the Product. Subject to Section 10.3, Provider shall defend, indemnify and hold Client and its Related Persons harmless from and against Losses
resulting from Claims arising out of or related to infringement of any Intellectual Property rights related to the Services and to the extent based on Provider IP, the Cell Line and any manufacturing process that is independent of the Product.

  

	10.3	 Defense. Each party shall notify the other party promptly upon learning of a Claim that is subject to
indemnification pursuant to Section 10.1 or 10.2. The indemnifying party may control, at its own expense, the defense of the Claim in good faith with counsel of its choice as long as such counsel is reasonably acceptable to the indemnified
party. The indemnified party shall use reasonable efforts to cooperate in the defense and may participate at its own expense using its own counsel. No compromise or settlement of any Claim may be made by the indemnifying party without the
indemnified party’s written consent unless (a) there is no finding or admission of any violation of law or any violation of the rights of any person and no effect on any other claims that may be made against the indemnified party,
(b) the sole relief provided is monetary damages that are paid in full by the indemnifying party and (c) the indemnified party’s rights under this Agreement are not adversely affected. 

  
 10 

	10.4	 Limitations on Liability 

 

	 	(a)	 Except for Losses arising from breach of confidentiality obligations or Section 8, from a party’s
gross negligence or willful misconduct, or Losses payable to a third party pursuant to an indemnification obligation under this Agreement based on violation of Applicable Law or infringement of Intellectual Property, neither party will be liable to
the other party for breach-of-contract damages that (i) the breaching party could not reasonably have foreseen on entry into this Agreement or (ii) result from
special circumstances of the non-breaching party, including but not limited to consequential, incidental, punitive, or indirect damages, including lost profits. 

 

	 	(b)	 Except for Losses arising from breach of confidentiality obligations or Section 8, from a party’s
gross negligence or willful misconduct, or Losses payable to a third party pursuant to an indemnification obligation under this Agreement based on violation of Applicable Law or infringement of Intellectual Property, either party’s maximum
aggregate total liability in connection with a Work Order will not exceed greater of two times the total payments received by Provider under the Work Order. 

  

	10.5	 Insurance. Each party shall ensure that insurance coverage is carried and maintained with a
financially sound and reputable insurer against loss from such risks and in such amounts as is sufficient to support its obligations under this Agreement. Each party shall provide a copy of the applicable insurance policy if requested by the other
party. 

  

	11.	 CONFIDENTIALITY AND PUBLICITY 

 

	11.1	 Confidentiality. Subject to Section 11.2, during the term of this Agreement and for ten years
thereafter, the Receiving Party shall, and shall ensure that its Related Persons will, (a) maintain the Confidential Information in confidence, (b) not use the Confidential Information other than in connection with this Agreement and
(c) not disclose the Confidential Information to any third party other than (i) in the case of Provider, those of its Related Persons that have a need to know the Confidential Information for the performance of the Services and are
obligated to maintain the Confidential Information in confidence, (ii) in the case of Client, those of its Related Persons that have a need to know the Confidential Information to perform Client’s obligations or exercise Client’s
rights under this Agreement and (iii) to the extent required by Applicable Law only after the Receiving Party gives the Disclosing Party reasonable advance notice of such disclosure and uses reasonable efforts to secure confidential treatment
of the Confidential Information and (iv) is require by any regulatory body with authority to request such confidential information. Notwithstanding the foregoing, the existence of this Agreement and its terms may be disclosed confidentially to
professional advisors and in connection with a potential financing, investment, licensing, or acquisition, or as may be required by Applicable Law. Notwithstanding anything to the contrary in this Agreement, all information relating to the Client
Materials and all information with respect to the Products (or the composition of matter, or method of manufacture or use thereof), and all Record, will be deemed to be the Confidential Information of Client and not Provider. 

 

	11.2	 Exceptions to Confidentiality. The Confidential Information shall not include to information or
materials to the extent (a) the information or materials is public knowledge or becomes public knowledge after disclosure through no fault of the Receiving Party or any of its Related Persons, (b) the information or materials can be shown
by the Receiving Party to have been in its or any of its Related Persons’ possession prior to disclosure with rights to use and disclose such information or materials, (c) the information or materials was received with rights to use and
disclose such information or materials from a third party in compliance with such third party’s obligations to maintain the information or materials in confidence, or (d) the Receiving Party can show that equivalent information or
materials was developed independently by the Receiving Party or any of its Related Persons without use of or reference to the Disclosing Party’s Confidential Information. 

  
 11 

	11.3	 Return of Confidential Information. Upon request in writing by the Disclosing Party, the Receiving
Party shall cause all Confidential Information of the Disclosing Party to be promptly destroyed or returned to the Disclosing Party; provided, however, that (a) the Receiving Party may retain a single secure copy of any Confidential Information
of the Disclosing Party as required by Applicable Law, for the purpose or determining its compliance with its obligations hereunder or, in the case of Client, exercise of its rights hereunder and (b) electronic
back-up files that have been created by routine archiving and back-up procedures need not be deleted. 

 

	11.4	 Services to Third Parties. Provider and its Affiliates may have in the past provided, and may
currently or in the future provide, services to other customers that are similar to the Services. Provider is absolutely committed to protecting its customers’ Intellectual Property, and shall not use the Intellectual Property of Client for the
benefit of any person other than Client or other than as expressly authorized by this Agreement. In order to protect the Confidential Information of Client and the confidential information of other customers, Provider shall use no less than
reasonable efforts to ensure that other customers do not seek the disclosure of, or receive disclosure of, Confidential Information of Client, and Client shall not seek the disclosure of confidential information of other customers.

  

	11.5	 Publicity. Each party shall not, and shall ensure that its Related Persons will not, use the name,
symbols or marks of the other party or any of its Affiliates in any advertising or publicity material or make any form of representation or statement that would constitute an express or implied endorsement by the other party or any of its Affiliates
of any commercial product or service without the other party’s or Affiliate’s prior written consent. For the avoidance of doubt, Client may disclose Provider in any regulatory filings related to the Products. 

 

	12.	 TERM AND TERMINATION 

 

	12.1	 Agreement. The term of this Agreement commences on the Effective Date and will terminate on the date
either party elects to terminate it with at least thirty (30) days advanced notice to the other party, provided that a party may only terminate this Agreement if all Services under pending Work Orders have been completed, or as otherwise agreed
to by the Parties. 

  

	12.2	 Work Orders. The term of each Work Order commences on the date indicated in the Work Order and will
terminate upon completion of the Services defined therein. Notwithstanding the foregoing: 

  

	 	(a)	 Client may terminate a Work Order or this Agreement at any time with three months’ advance notice to
Provider; or 

  

	 	(b)	 Either party may terminate a Work Order immediately upon notice to the other party if (i) a material
breach of the Work Order by the other party remains uncured 60 days after notice of the material breach was received by the other party and (ii) the material breach was not caused by the party terminating the Work Order or any of its
Affiliates. 

  

	12.3	 Survival. Upon termination of this Agreement or a Work Order, all outstanding rights and obligations
between the parties arising out of or in connection with this Agreement or the Work Order, as the case may be, will immediately terminate, other than any right or obligation (a) that matured prior to the effective date of the termination and
(b) included under Sections 1, 2.3(b), 3.4, 4.2, 6.2, 6.3, 7.1, 7.2, 7.4, 8.1, 8.2(b), 8.3, 9, 10, 11, 12.3, and 14. If requested by Client, Provider shall complete the manufacturing of Products that began prior to the date Provider receives
notice of termination from Client, if feasible, which manufacturing shall remain subject to the terms of this Agreement (including the payment of applicable Service Fees). 

 

	12.4	 Termination Fee. If a Work Order is terminated by Client without cause or Provider with cause, then
Client shall pay Provider for the Services rendered and all non-cancelable obligations in connection with the Services. 

  
 12 

	12.5	 Special notes for cancellation of GMP manufacturing. If a notice to cancel GMP manufacturing in the
executed Work Order and/or this Agreement by Client, other than for reason of a breach of this Agreement by Provider, is received, Provider will use reasonable efforts to find an alternative client to fill the manufacturing slot. In the case where
no alterative client can be identified to fill the slot(s), a termination charge will be applied based on the following: 

  

	 	•	 	 no termination charge except cost of raw materials purchased by Provider for purposes of Development and
Production under the applicable Work Order and/or the Agreement (as the case may be), if the cancellation notice is received [***] calendar days before the scheduled vial thaw; 

 

	 	•	 	 [***] of GMP batch fee plus cost of raw materials purchased by Provider for purposes of Development and
Production under the applicable Work Order and/or the Agreement (as the case may be), if the cancellation notice is received [***] calendar days before the scheduled vial thaw; 

 

	 	•	 	 [***] of GMP batch fee plus cost of raw materials purchased by Provider for purposes of Development and
Production under the applicable Work Order and/or the Agreement (as the case may be), if the cancellation notice is received [***] calendar days before the scheduled vial thaw; 

 

	 	•	 	 [***] of GMP batch fee plus cost of raw materials purchased by Provider for purposes of Development and
Production under the applicable Work Order and/or the Agreement (as the case may be), if the cancellation notice is received [***] calendar days before the scheduled vial thaw; and 

 

	 	•	 	 [***] of GMP batch fee plus cost of raw materials purchased by Provider for purposes of Development and
Production under the applicable Work Order and/or the Agreement (as the case may be), if the cancellation notice is received [***] calendar days before the scheduled vial thaw. 

The GMP batch fee shall be expressly specified in the applicable Work Order. Client shall own any raw materials paid for by
Client. 
  

	13.	 SHIPPING 

  

	13.1	 Shipping by Provider to Client. Time is of the essence in all Deliverables and Products to be
delivered to Client. All materials to be provided by Provider to Client will be delivered FCA (carrier named by Client) (Incoterms 2010), including Product and other deliverables produced under a Work Order, returned Client Materials, returned
Records and returned Confidential Information. For the avoidance of doubt, FCA (carrier named by Client) means Provider is responsible for handing over the materials suitably packaged to maintain quality, cleared for export, to a carrier named by
Client, at which time Client assumes risk of loss and pays all costs for delivery to the final destination,: if Provider is delayed in delivering any Deliverable or Products by more than [***] ([***]) [***] business days and Provider shall give
Client a credit equal to the following late fees as liquidated damages 

  

	 	•	 	 [***] of the GMP batch fee if delayed by [***] business days or more 

 

	 	•	 	 [***] of the GMP batch fee if delayed by more than [***] business days or more 

The liquidated damages obligations set forth in this Section 13.1 do not apply to the extent that the damages arises in whole or in part
from Client’s fault, including but not limited to late delivery of Materials provided by Client and Client Materials. 
  

	13.2	 Shipping by Client to Provider. All materials to be provided by Client to Provider will be delivered
DDP (site designated by Provider) (Incoterms 2010), including Materials provided by Client and Client Materials. For the avoidance of doubt, DDP (site designated by Provider) means Client is responsible for delivery to and unloading at the site
designated by Provider and pays all costs including import duties and taxes. 

  

	13.3	 Packaging. All Product delivered pursuant to a Work Order shall (i) be packaged in containers in
accordance with the Specifications or as otherwise agreed by the parties in writing and (ii) meet the Specifications and (iii) be manufactured in accordance with Applicable Law, including cGMP. Each such container shall be

  
 13 

	 	 
individually labeled with, at a minimum, a description of its contents, including the manufacturer lot number, quantity of Product and date of manufacture and the Work Order pursuant to which it
is being delivered. 

  

	14.	 MISCELLANEOUS 

 

	14.1	 Force majeure. Neither party shall be liable for
non-fulfilment of or delay in its obligations under this Agreement if such non-fulfilment or delay is due to an occurrence of an event outside the reasonable control of
such party (“force majeure”). Each party shall use reasonable efforts to mitigate adverse consequences, and will promptly notify the other party in the event, of the start or stop of a force majeure. If force majeure event prevents
Provider from performing the Services for more than 30 days, Client may terminate this Agreement or the relevant Work Order without payment of any termination fee. 

 

	14.2	 Assignment. This Agreement may not be assigned by a party without the prior written consent of the
other party; provided, however, that a party may assign this Agreement to an Affiliate or to a successor to all or substantially all of the assigning party’s business and assets related to this Agreement, whether by sale of assets, sale of
stock, merger or otherwise. Any purported assignment in violation of this Section is null and void. 

  

	14.3	 Notices. All notices, requests, demands and other communications required under this Agreement must
be in writing and will be deemed to have been given or made and sufficient in all respects when delivered by reputable international courier to the following addresses: 

 

			
	 To Client:
  

Inhibrx, Inc.

11025 North Torrey Pines Rd.

Suite 200

La Jolla, CA 92037

USA

Attn: CEO
  
	  	 With a copy to:
  

Inhibrx, Inc.

11025 North Torrey Pines Rd.

Suite 200

La Jolla, CA 92037

USA

Attn: Corporate Secretary
  

	 To Provider:
  

WuXi Biologics Shanghai Co Ltd

Building 1, 288 Fute Zhong Road

Waigaoqiao Free Trade Zone

Shanghai, China 200131

Attn: General Counsel
	  	 With a copy to:
  

WuXi Biologics (Hong Kong) Limited

Suite 2008, 20/F., Jardine House,

1 Connaught Place, Central, Hong Kong

  

	14.4	 Independent Contractor. The parties are independent contractors, and nothing contained in this
Agreement may be deemed or construed to create a partnership, joint venture, employment, franchise, agency, fiduciary or other relationship between the parties. 

 

	14.5	 Non-Solicitation. During the term of this Agreement and for
one year thereafter, neither party shall induce or solicit (or authorize or assist in the taking of any such actions by any third party) any employee or consultant of the other party or any of its Affiliates involved with this Agreement to leave his
or her employment or business association. This provision shall not be construed to prohibit the general advertisement of employment opportunities or job openings so long as such advertisements are not customized for, directed at, or targeted at,
specific employees of the other party. 

  
 14 

	14.6	 Governing Law. The laws of the State of Delaware, U.S.A., without giving effect to principles of
conflict of laws, govern all matters relating to this Agreement. 

  

	14.7	 Arbitration. The parties shall engage in good faith consultation to resolve any dispute arising out
of or in connection with this Agreement. Such consultation will begin immediately after one party has delivered to the other party a request for consultation. If the dispute cannot be resolved within 30 days following the date on which the request
for consultation is delivered, then either party may submit the dispute to the International Chamber of Commerce (“ICC”) for arbitration to be conducted in accordance with the Arbitration Rules of ICC in effect at the time of
submission. The place of arbitration will be San Francisco, U.S.A. The official language of the arbitration will be English. The tribunal will consist of one arbitrator to be appointed by ICC. The arbitration proceedings will be confidential, and
the arbitrator may issue appropriate protective orders to safeguard each party’s Confidential Information. During the course of arbitration, the parties shall continue to implement the terms of this Agreement. The arbitral award will be final
and binding upon the parties, and the party to the award may apply to a court of competent jurisdiction for enforcement of the award. Notwithstanding the foregoing, each party has the right to institute an action in a court of proper jurisdiction
for injunctive or other equitable relief pending a final decision by the arbitrator. 

  

	14.8	 Entire Agreement; Non-Reliance. This Agreement contains the
entire agreement between the parties with respect to the subject matter of this Agreement. Prior agreements, including the Original Agreement, are hereby superseded; provided that with respect to any conflict between this Agreement and the Original
Agreement, as to any acts or omissions by the parties that occurred after the Original Effective Date but prior to the Restated Effective Date, the terms of the Original Agreement shall prevail. For the avoidance of doubt, prior confidentiality
obligations are superseded to the extent that they cover Confidential Information. Each party disclaims that it is relying on any representations or warranties other than those set forth in this Agreement, and irrevocably waives any rights that it
might otherwise have to extra-contractual remedies, including claims in tort relating to communications outside of this Agreement. 

  

	14.9	 Amendment. No modification or waiver of any term of this Agreement or any other form of amendment to
this Agreement will be binding unless made expressly in writing and signed by both parties. An amendment to this Agreement will only be incorporated into Work Orders entered into after the date of the amendment. 

 

	14.10	 No Third Party Beneficiaries. The provisions of this Agreement are for the sole benefit of the
parties. 

  

	14.11	 Waiver. The waiver by either party of any breach of any term of this Agreement will not constitute a
waiver of any other breach of the same or any other term. Failure or delay on the part of either party to fully exercise any right under this Agreement will not constitute a waiver or otherwise affect in any way the same or any other right.

  

	14.12	 Severability. If any provision in this Agreement is held to be invalid, illegal or unenforceable in
any respect, then (a) the provision will be replaced by a valid and enforceable provision that achieves as far as possible the intention of the parties and (b) all other provisions of this Agreement will remain in full force and effect as
if the agreement had been executed without the invalidated, illegal or unenforceable provision. 

  

	14.13	 Counterparts. This Agreement may be executed in one or more counterparts, each of which will be
deemed an original, but all of which together constitute one and the same instrument. Executed counterparts may be exchanged by facsimile or e-mail in PDF or similar electronic format. 

[Signature page follows] 

  
 15 

 Thus, this Agreement was executed on the date stated in the introductory clause. 

 

									
	WuXi Biologics (Hong Kong) Limited	  		  	Inhibrx, Inc.
					
	 By:
	 	 /s/ Chris Chen
	  		  	 By:
	  	 /s/ Mark Lappe

	 Name: Chris Chen
	  		  	 Name: Mark Lappe

	 Title: Director
	  		  	 Title: CEO

  
 16 

 Exhibit A—Form of Work Order 

WORK ORDER (NUMBER [•]) 

This work order (“Work Order”) is dated [•] and is between Inhibrx, Inc., with principal place of business located at 11025
North Torrey Pines Road, Suite 200, La Jolla, CA 92037 (“Client”) and WuXi Biologics (Hong Kong) Limited (“Provider”). 

The terms of the Master Services Agreement between Inhibrx, Inc. with principal place of business located at 11025 North Torrey Pines Road,
Suite 200, La Jolla, CA 92037 and WuXi Biologics (Hong Kong) Limited, dated [•] (the “Master Services Agreement”), are hereby incorporated by reference into this work order. References in the Master Services Agreement to a
“Work Order” will be deemed to be references to this Work Order with the necessary modifications. Each capitalized term used but not defined in this work order has the meaning given in the Master Services Agreement. 

 

	1.	 SERVICES INFORMATION 

 

	1.1	 Title 

[Project title] 
  

	1.2	 Description 

[Description of the Services including deliverables and specifications] 

 

	1.3	 Tasks and Timeframe. Provider shall complete the Services in accordance with the following schedule:

  

			
	 Task
	  	 Completion
Date

	 [●]
	  	 [●]

	 [●]
	  	 [●]

	 [●]
	  	 [●]

	 [●]
	  	 [●]

  

	1.4	 Reporting and Transfer of Data and Results 

[Description of how data and results should be reported and transferred to Client, including electronic protocols for secure
transmission of data and instructions for physical handling and shipping of materials if chemicals are being synthesized or other materials are to be transferred to Client] 

 

	1.5	 Additional Requirements 

[Any additional requirements such as additional obligations of the parties that do not appropriately fit into the task list
and special handling of materials] 
  

	2.	 FEES; PAYMENT SCHEDULE 

 

	2.1	 General Terms. Expenses, milestones, payment and default and other general terms are provided in
Section 3 of the Master Services Agreement. 

  

	2.2	 Service Fee and Upfront Payment. The Service Fee will be in USD. On signing of this Work Order,
Client shall pay Provider [.] % of the Service Fee as an upfront payment. 

  

	2.3	 Milestones. The table below lists milestones and related information. 

  
 17 

					
	 Milestone
	  	 Deliverable
	  	 Milestone Payment

	[Description including work required, criteria for achievement and timeline]	  	 [•]
	  	 [•]

	 [•]
	  	 [•]
	  	 [•]

  

	2.4	 Payment Instructions. Unless an invoice provides otherwise, Client shall pay the invoice in USD by
wire transfer to the account listed below: 

  

			
	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

	 [***]
	  	 [***]

  

	3.	 COMMUNICATIONS 

 

	3.1	 Technical Communications. All technical communications required under this work order are to be sent
via reputable international courier or email and addressed as follows: 

  

			
	 If to Client:
  

Inhibrx, Inc.
 11025 N. Torrey
Pines Rd.
 Suite 200
 La Jolla,
CA 92037
 USA
 Attn:
    Inhibrx, Inc.
 Tel.:      [•]

Email: [•]
	  	 If to Provider:
  

[•]
 [•]

[•]
 Attn:
        [•]
 Tel.:         [•]

Email: [•]

  
 18 

 Thus, this work order was executed on the date stated in the introductory clause. 

 

									
	Inhibrx, Inc.	 		  	WuXi Biologics (Hong Kong) Limited
					
	 By:
	 	  
	 		  	 By:
	  	  

	 Name:
	 		  	 Name:

	 Title:
	 		  	 Title:

  
 19 

 Exhibit B—Manufacturing 

 

	1.	 MANUFACTURING AND COMPLIANCE 

 

	1.1	 Specifications and Manufacturing Process. Provider shall manufacture each Product in accordance with
the written specifications for the Product agreed to by the parties (the “Specifications”), the applicable Work Order, the Quality Agreement, and Applicable Laws. Client may modify the Specifications; provided, however, that
Provider’s consent, which consent will not be unreasonably withheld or delayed, is required for any modification that would significantly increase costs. Provider shall negotiate in good faith with Client with the aim of agreeing on a mutually
acceptable allocation of the increased costs. Manufacturing shall include all testing required to demonstrate conformance with the Specifications. 

  

	1.2	 Quality Agreement. This Agreement incorporates the quality assurance requirements of the quality
agreement mutually agreed to by the parties (the “Quality Agreement”). If there is a contradiction between a requirement of the Quality Agreement and another provision of this Agreement or a Work Order, then the requirement of the
Quality Agreement will take precedence with respect to any quality related provisions, unless this Agreement or the Work Order specifically states that its provision takes precedence. 

 

	1.3	 Regulatory Assistance. Provider shall, at Client’s request and as set forth in any Work Order or
the Agreement, provide Client with all supporting data and information relating to manufacturing of the Product that is reasonably necessary for obtaining and maintaining regulatory approvals relating to the manufacturing. 

 

	2.	 QUALITY RELEASE AND DELIVERY 

 

	2.1	 Quality Release. Product may not be delivered to Client until a person authorized by Provider having
the necessary qualifications, experience and authority to oversee quality assurance of the manufacture and determine the suitability of individual batches for release under Applicable Law has (a) conducted analyses using the analytical methods
agreed to in writing by the parties, (b) executed the Certificate of Analysis (i.e., the written test results of a batch that is tested against the applicable criteria in the Specifications, and confirmation the batch passed the test)
applicable to the Product and such other batch documentation that may be requested by Client and (c) completed any other certifications or documents including but not limited to Certificate of Compliance and other activities that may be
required to release the Product under Applicable Law and the Quality Agreement. Provider will deliver a Certificate of Analysis, Documentation, completed batch documentation, any investigation reports of any Out of Specification result or
Manufacturing deviation, and Certificate of Compliance along with delivery of samples of the Product for review by Client. Notwithstanding the foregoing, at Client’s request, Provider may deliver Product in quarantine prior to delivery of the
Certificate of Analysis, batch documentation, and Certificate of Compliance. The request must be accompanied by Client’s written acknowledgement that (a) the Product has been delivered without a Certificate of Analysis, batch
documentation, and Certificate of Compliance (b) accordingly, the Product cannot be administered to humans until transmittal of the Certificate of Analysis, batch documentation, and Certificate of Compliance and (c) that Client
nevertheless accepts full risk of loss, title and ownership of the Product with the exception for any case in which the batch fails to meet Specifications. The delivery of Product in quarantine will be subject to such testing requirements as
Provider may reasonably require. 

  

	2.2	 Delivery. Provider shall deliver the Product in accordance with Section 12 of the Agreement.

  

	2.3	 Acceptance; Damage. Client shall diligently examine the Product as soon as practicable after receipt.
Client shall notify Provider (a) within twenty (20) business days for claims relating to damage and (b) within fifteen (15) business days after Provider’s dispatch notice for claims relating to
non-delivery. Client shall make damaged Product and packaging materials available for inspection and comply with reasonable requirements of any insurance policy covering the Product. 

  
 20 

	3.	 NON-CONFORMING PRODUCT 

 

	3.1	 Warranty. Provider warrants to Client that each Product supplied will have been manufactured in
accordance with, and will comply with, this Agreement, its Work Order, the Specifications, the Quality Agreement, and Applicable Law (the “Warranty”). 

 

	3.2	 Non-Conformance. Client may only reject a shipment of a
Product if, within twenty (20) business days after receiving the shipment, (a) Client conducts a quality inspection and reasonably determines that the Product does not conform to the Warranty, (b) notifies Provider in writing that the
Product does not conform and (c) provides supporting documentation. A shipment of Product that is not rejected pursuant to the preceding sentence will be deemed accepted by Client, provided that for any latent defect of a Product, Client shall
have twenty (20) business days after Client’s discovery of such defect to notify Provider and reject such Product. 

  

	3.3	 Disputes. If the parties are unable to agree as to whether a Product conforms to the Warranty, Client
shall send a sample of the Product for testing at an independent, reputable quality control laboratory chosen by the parties (“Independent Laboratory”). The findings of the Independent Laboratory will be binding on the parties, absent
manifest error. The cost of inspections and testing by the Independent Laboratory will initially be borne equally by each party, provided that the Client shall reimburse Provider’s costs if the Independent Laboratory determines that the Product
was in compliance with the Warranty and Provider shall reimburse Client’s costs if the Independent Laboratory determines that the Product was not in compliance with the Warranty. 

 

	3.4	 Reimbursement and Replacement. If the parties agree, or if an Independent Laboratory finds, that: any
Product does not conform to the Warranty, then, without prejudice to any other rights which Client may have under this Agreement, Provider shall, at Client’s option, either (a) reimburse Client for any reasonable and reasonably documented
costs in respect of the non-conforming Product or (b) replace the non-conforming Product with substitute Product within a time period that is acceptable to Client.

  
 21 

 Exhibit C – Provider’s Affiliates and Service Scope 

WuXi AppTec Biopharmaceuticals Co., Ltd. 
 Scope:
biologics development and cGMP manufacturing 
 Address: 108/198 Meiliang Rd, Wuxi city, Jiangsu Province PR China 

WuXi AppTec (Suzhou) Testing Technology Co., Ltd. 

Scope: UPB testing and viral clearance 
 Address:
Wuzhong Avenue North, Wuzhong Economic Development District, Suzhou, 215104, 
 P.R. China 

WuXi Biologics (Shanghai) Co., Ltd. 
 Scope:
biologics development 
 Address: Room 701, 7F, Huajing Road No. 2, Shanghai Free Trade Zone, China. 

  
 22 

 Exhibit D – Price Set 

[***] 

  
 23

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