Document:

EX-10.8

 Exhibit 10.8 

[####] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed. 
 LICENSE AGREEMENT 

by and between 
 WYETH,

 acting through its 

WYETH PHARMACEUTICALS DIVISION, 

And 
 CARDIOKINE, INC.

 March 15, 2004 

 LICENSE AGREEMENT 

This License Agreement (this “Agreement”) is entered into this 15th day of March, 2004 (the “Effective Date”), by and
between Wyeth, a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at Five Giralda Farms, Madison, New Jersey 07940, acting through its Wyeth Pharmaceuticals Division,
(“Wyeth”), and Cardiokine, Inc., a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at 3701 Market St, 4th Floor, Philadelphia, PA 19104 (“Cardiokine”). Wyeth and
Cardiokine may each be referred to herein individually as a “Party” and collectively as the “Parties”. 
 WHEREAS,
Cardiokine is engaged in the research, development and commercialization of human pharmaceutical products; 
 WHEREAS, Wyeth has developed
and owns a vasopressin antagonist compound known as lixivaptan and patents and proprietary know-how relating to products including the Licensed Compound (as defined herein); 

WHEREAS, Cardiokine desires to obtain from Wyeth, and Wyeth desires to grant to Cardiokine, a license of such rights for the development and
commercialization of pharmaceutical products for use in humans; and 
 NOW THEREFORE, in consideration of the mutual promises and covenants
set forth below and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

1. DEFINITIONS. 
 For purposes of this
Agreement, the following terms shall have the following respective meanings: 
 Affiliate(s). “Affiliate(s)” shall
mean, with respect to any Person, any Person which directly or indirectly through the ownership of equity securities or through other arrangements either controls, or is controlled by or is under common control with, such Person. A Person
shall be deemed to be in control of another entity if it owns or controls at least fifty percent (50%) of the equity securities of the subject entity entitled to vote in the election of directors (or, in the case of an entity that is not a
corporation, for the election of the corresponding managing authority); provided, however, that a Person shall not be deemed to be in control of an entity in which a Person owns a majority of the ordinary voting power to elect a
majority of the board of directors or other governing board but is restricted from electing such majority by contract or otherwise, until such time as such restrictions are no longer in effect. 

Calendar Quarter. “Calendar Quarter” shall mean the respective periods of three (3) consecutive calendar
months ending on March 31, June 30, September 30 or December 31, for so long as this Agreement is in effect. 

Cardiokine Know-How. “Cardiokine
Know-How” shall mean all Know-How, whether patentable or not, owned or Controlled by Cardiokine as of the date of termination of this Agreement directed to
the Licensed Compound, to Licensed Products, and to the Research, Development, Manufacture or Commercialization of the Licensed Compound and/or Licensed Products. 

 Commercialization. “Commercialization” shall mean any and all
activities of using, marketing, promoting, distributing, offering for sale, selling, importing and exporting Licensed Products. When used as a verb, “Commercialize” shall mean to engage in Commercialization. 

Commercially Reasonable Efforts. “Commercially Reasonable Efforts” shall mean efforts and resources normally
used by a Party for a product or compound owned by it or to which it has rights, which is of similar market potential at a similar stage in its development or product life, taking into account issues of safety and efficacy, product profile, the
competitiveness of the marketplace, the proprietary position of the compound or product, the regulatory structure involved, the profitability of the applicable products, and other relevant factors. 

Confidential Information. “Confidential Information” shall mean, with respect to each Party, confidential data
or, information, which belong in whole or in part to such Party or its Affiliates and/or information designated as Confidential Information of such Party The term Confidential Information does not included information which (a) was generally
available to the public or otherwise part of the public domain at the time of its receipt, (b) becomes generally available to the public or otherwise part of the public domain other than as a result of disclosure by the Receiving Party (as
defined in Section 8 below) in breach of Section 8, (c) becomes available to the Receiving Party on a non-confidential basis from a source other than the Disclosing Party (as defined in
Section 8 below) or its Affiliates, provided that, to the Receiving Party’s knowledge, such source is not bound by a confidentiality agreement with the Disclosing Party or its Affiliates, (d) is independently developed by the
Receiving Party without use of the Confidential Information of the Disclosing Party, (e) is required to be disclosed pursuant to the order or requirement of a court or similarly empowered administrative or government agency provided that
Receiving Party shall give Disclosing Party written notice of such order or requirement promptly upon receipt and prior to any disclosure and shall provide reasonable cooperation and assistance in opposing such order or requirement if requested by
the Disclosing Party, or (f) was in Receiving Party’s possession prior to receipt from the Disclosing Party without any obligations of confidentiality. 

“Controls” or “Controlled” shall mean with respect to know-how and patent
rights, the possession of the ability to grant licenses or sublicenses without violating the terms of any agreement or other arrangement with, or the rights of, any Third Party. 

Development. “Development” shall mean all activities performed by or on behalf of Cardiokine, its Affiliates or
sublicensees in a country or territory with respect to a Licensed Product from the Effective Date that are directly related to obtaining Regulatory Approval of such Licensed Product in such country or territory for the indication under study. When
used as a verb, “Develop” shall mean to engage in Development. 
 EMEA. “EMEA” shall mean the European
Agency for the Evaluation of Medicinal Products or any successor agency thereto. 

  
 -2- 

 Europe. “Europe” shall mean the member states of the European Union
including the new member states from time to time. 
 FDA. “FDA” shall mean the United States Food and Drug
Administration or any successor agency thereto. 
 FD&C Act. “FD&C” Act shall mean the United States
Federal Food, Drug, and Cosmetic Act, as amended, and the rules and regulations promulgated thereunder. 
 Field.
“Field” means all fields other than Veterinary Use. 
 First Commercial Sale. “First Commercial
Sale” shall mean on a country-by-country basis, with respect to any Licensed Product, the first sale of such Licensed Product under this Agreement to
a Third Party in a country in the Territory, after such Licensed Product has been granted Regulatory Approval in such country. 
 Know-How. “Know-How” shall mean all proprietary and/or confidential information and data, including, with respect to a compound or a product
containing such compound, manufacturing methodology, tangible biological materials, and other information including, for example, information regarding its stability, pharmacology, toxicology, clinical studies, compositions and formulations for
administration. 
 Licensed Compound. “Licensed Compound” shall mean lixivaptan, a vasopressin
antagonist, with chemical name, [####], and any pharmaceutically acceptable salt or complex thereof. 
 Licensed Know-How. “Licensed Know-How” shall mean all Know-How, whether patentable or not, that (a) Wyeth or
any of its Affiliates owns or Controls as of the Effective Date, (b) is related exclusively to the Licensed Compound, including the Manufacture or use thereof, and (c)is necessary or useful for the Manufacture, sale or use of the Licensed Compound.
Licensed Know-How includes clinical information (including clinical data, files, protocols, and reports), as well as manufacturing information (including manufacturing batch records). The Licensed Know-How relating to clinical information is identified in Exhibit B to this Agreement. The Licensed Know-How relating to manufacturing information is not identified in any
Exhibit to this Agreement. 
 Licensed Patents. “Licensed Patents” shall mean all Patents owned or Controlled by
Wyeth or any of its Affiliates that would, but for the license granted hereunder, be infringed by the manufacture, sale or use of the Licensed Compound. The Licensed Patents as of the Effective Date are listed on Exhibit A. Licensed Patents
shall include, (a) all patents that issue from the patent applications listed on Exhibit A, and (b) any and all continuations, continuations- in-part, divisions, renewals, revivals,
revalidations, substitutes, re-issues, extensions and reexaminations all U.S. and foreign counterpart applications and patents of any of the items described in (a). 

Licensed Product(s). “Licensed Product(s)” shall mean any and all pharmaceutical product(s) containing a
Licensed Compound in any formulation or dosage form for any and all indications for use in the Field. For the avoidance of doubt, each formulation or dosage form of a pharmaceutical product containing a Licensed Compound shall be a separate Licensed
Product. 

  
 -3- 

 Major European Market Countries. “Major European Market Countries” shall
mean [####]. 
 Manufacture, Manufactured or Manufacturing. “Manufacture”, “Manufactured” or
“Manufacturing” shall mean all activities undertaken by or on behalf of Cardiokine or its Affiliates or sublicensees that are involved in the production of a Licensed Compound or a Licensed Product. 

NDA. “NDA” shall mean a United States New Drug Application. 

Net Sales. “Net Sales” shall mean the gross amount invoiced by Cardiokine or its Affiliates or sublicensees in
respect of sales of Licensed Compound or Licensed Products to Third Parties in the Territory, less returns and less the following amounts (a) customary quantity, trade and/or cash discounts, refunds, chargebacks, allowances, rebates (including
any and all federal, state or local government rebates, e.g., Medicaid rebates) and any price adjustments allowed or given; (b) sales and other excise taxes and duties directly related to the sale, to the extent such items are included
in the gross invoice price; (c) credits for returned goods; (d) transportation charges to the extent included in the gross invoice price; and (e) agents’ commissions. Sales of Licensed Product(s) by Cardiokine, or an Affiliate or
sublicense of Cardiokine, to any Affiliate or sublicensee which is a reseller thereof shall be excluded, and only the subsequent sale of such Licensed Product(s) by Affiliates or sublicensees of Cardiokine to Third Parties shall be deemed Net Sales
hereunder. Any transfer of Licensed Produces) by Cardiokine, or an Affiliate or sublicensee of Cardiokine, to any party in connection with the development, testing, marketing or promotion of any Licensed Produces) shall also be excluded from Net
Sales. 
 Patents. “Patents” shall mean (a) patents, patent applications and patents issuing from any
such applications, and (b) any continuation, continuation-in-part, division, renewal, substitute, re-issue, extension, re-examination, revival or revalidation of any of the items in clause (a)/ 
 Person.
“Person” shall mean an individual, a corporation, a limited liability company, a partnership, an association, a trust or other entity or organization, including a governmental entity. 

Regulatory Approval. “Regulatory Approval” shall mean the technical, medical and scientific licenses,
registrations, authorizations and approvals of any national (e.g., the FDA), regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity, necessary for the Research, Development,
Manufacture and Commercialization of Licensed Product(s) in the Territory, including, without limitation, INDs and other submissions and approvals necessary to conduct clinical studies, approvals of ND As, • supplements and amendments, pre- and post- approvals, and labeling approvals. 
 Regulatory Approval Application.
“Regulatory Approval Application” shall mean an application submitted to a Regulatory Authority seeking Regulatory Approval for a Licensed Product. 

Regulatory Authority. “Regulatory Authority” shall mean any national (e.g., the FDA), regional,
state or local regulatory agency, department, bureau, commission, council or other governmental entity in the Territory involved in the granting of Regulatory Approval for a Licensed Product. 

  
 -4- 

 Research. “Research” shall mean those discovery and preclinical
activities undertaken by or on behalf of Cardiokine, its Affiliates or sublicensees with respect to a Licensed Product prior to the Development of such Licensed Product, including, without limitation, medicinal chemistry, pharmacology,
preclinical toxicology, and formulation of such Licensed Product. When used as a verb “Research” shall mean to engage in Research. 

Territory. “Territory” shall mean worldwide. No territories are reserved for Wyeth or any Third Party. 

Third Party(/ies). “Third Party(/ies)” shall mean any Person(s) other than Cardiokine, Wyeth or their
respective Affiliates. 
 Trademarks. “Trademarks” shall mean trademarks trade names brand names logos
symbols, service marks, designs and the goodwill of the business symbolized thereby, and related registrations and applications for registration in the Unites States Patent and Trademark Office or in any similar office or agency in the
Territory. 
 Valid Claim. “Valid Claim” shall mean a claim of an issued patent within the Licensed Patents
that has not lapsed, expired, been cancelled, or become abandoned, and has not been held invalid by a court or other appropriate body of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and which has not been
admitted to be invalid or unenforceable through reissue or disclaimer or otherwise. 
 Veterinary Use. “Veterinary
Use” shall mean the treatment of non-human animals. 
 Wyeth Intellectual Property.
“Wyeth Intellectual Property” shall mean the Licensed Patents and the Licensed Know-How. 

2. LICENSE. 
 2.1 License to
Cardiokine. Subject to the first negotiation rights of Wyeth pursuant to Article 6, Wyeth hereby grants to Cardiokine an exclusive license, including the exclusive right to sublicense, under the Wyeth Intellectual Property solely to
Research, Develop, Manufacture and Commercialize Licensed Compounds and Licensed Products in the Field within the Territory. 
 2.2
Sublicensing. Subject to the rights of Wyeth pursuant to Article 6, Cardiokine may grant to any Third Party sublicenses of the rights granted to it under Section 2.2. 

2.3 Technology Transfer and Assistance. For [####]following the Effective Date, Wyeth shall provide, at its cost, reasonable
assistance to Cardiokine to effect the orderly transfer to Cardiokine of the Licensed Know-How. For this purpose, Wyeth will deliver to Cardiokine the Wyeth materials listed on Exhibit B within
[####]after the Effective Date. The Parties will have telephone conferences and, upon mutual agreement, meetings at Wyeth as often as reasonably necessary to review the status of the transfer. The Parties shall have a one (1) day meeting
[####]after the Effective Date at Wyeth in which Cardiokine and Wyeth shall review the status of the transfer of the Licensed Know-How. 

  
 -5- 

 2.4 Noncompetition Within The Field. During the term of this Agreement, Wyeth
and its Affiliates shall take all reasonable measures to prevent any and all off-label uses of any vasopressin antagonist sold by it for Veterinary Use. 

3. DILIGENCE AND DEVELOPMENT. 
 3.1
Diligence. Cardiokine shall use Commercially Reasonable Efforts to Research Develop, Manufacture and Commercialize Products in the United States, Canada, and the Major European Market Countries. Without limiting the generality of the
foregoing, Cardiokine shall) use Commercially Reasonable Efforts to file an NDA in the United States as soon as reasonably practicable. Cardiokine shall have sole responsibility for all expenses it incurs in connection with the performance of its
obligations under this Agreement. 
 3.2 Reports. On a semiannual basis but no later than June 30 and December 31 of each
calendar year, Cardiokine shall provide Wyeth with a written report summarizing its Research, Development (including the status of any Regulatory Approval process) and Commercialization activities, with respect to Licensed Compounds and Licensed
Products during the just-ended semiannual period. Such report and all information contained therein shall be deemed to be Confidential Information of Cardiokine. 

4. MANUFACTURE AND COMMERCIALIZATION OF PRODUCTS; REGULATORY MATTERS. 

4.1 Manufacture. Pursuant to the licenses granted to Cardiokine in Section 2, Cardiokine shall have the sole right and
responsibility (subject to Section 4.2), at its own expense, itself and/or through Affiliates and/or sublicensees, to Manufacture or have Manufactured Licensed Compound and Licensed Products in order to perform its obligations under this
Agreement. 
 4.2 Supply by Wyeth. Notwithstanding Section 4.1, within [####]after the Effective Date Wyeth shall provide
to Cardiokine, FOB Wyeth shipment site, with Wyeth’s existing (as of the Effective Date) inventory of Licensed Compounds, formulated clinical supplies of Licensed Compounds, if any, and Licensed Product, if any, in “AS IS” condition.
Wyeth shall have no obligation to requalify, repurify or certify any such inventory of Licensed Compounds, formulated clinical supplies of Licensed Compounds or Licensed Product; provided, however, that Wyeth shall provide all available
documentation relating to the manufacture and testing of said inventory and formulated clinical supplies of Licensed Compounds and Licensed Product. 

4.3 Regulatory Approvals. As between the Parties, Cardiokine (and/or its designee) shall have the sole right and responsibility,
at its own expense, for preparing and filing, in its (and/or its designee’s) own name, all Regulatory Approval Applications. Cardiokine (and/or its designee) shall have the sole right and responsibility, at its own expense, for communicating
with any Regulatory Authority, and preparing and filing any submissions which may be necessary or appropriate, regarding any Regulatory Approval Application in order to obtain the corresponding Regulatory Approval or with respect to making any
supplements or modifications thereto. 

  
 -6- 

 4.4 Regulatory Reporting. As between the Parties, Cardiokine (and/or its designee)
shall have sole right and responsibility, at its own expense, for filing all reports required to be filed, and for responding to all correspondence from any Regulatory Authority which may be required, in order to maintain any Regulatory
Approvals granted for Licensed Products within the Territory, including, without limitation, adverse drug experience reports. 
 4.5 Use
of and Reference to Regulatory Approval Applications. Wyeth shall have, and Cardiokine hereby grants to Wyeth, the right to use and make reference to the Regulator Approval Applications filed by Cardiokine or any of its Affiliates or
sublicensees in any jurisdiction m the Territory (and all data included therewith, which data shall be provided to Wyeth upon Wyeth’s written request) for the sole purpose of Developing, Manufacturing and Commercializing a product containing
Licensed Compounds solely for Veterinary Use and for no other purpose whatsoever shall be without any charge or royalty payable to Cardiokine. Cardiokine shall have, and Wyeth hereby grants to Cardiokine, the right to use and make reference to the
Regulatory Approval Applications filed by Wyeth or any of its Affiliates or sublicensees in any jurisdiction in the Territory (and all data included therewith, which data shall be provided to Cardiokine upon Cardiokine’s written request) for
the sole purpose of Developing, Manufacturing and Commercializing a product containing Licensed Compounds for use in the Field. Such right shall be without any charge or royalty payable to Wyeth. 

5. CONSIDERATION. 
 5.1
Payments. Subject to the terms and conditions, and during the term of this Agreement, Cardiokine shall make the following payments to Wyeth: 

Within [####]after the Effective Date (the “Signing $[####] Fee”) 

And within [####]after the first occurrence of each of the following events with respect to the first Licensed Product to achieve such
milestone; 
  

			
	[####]	  	$[####]
	[####]	  	$[####]
	[####]	  	$[####]
	Total of Signing Fee and Milestone Payments:	  	$[####]

 Each of the foregoing payments shall be non-refundable and not
creditable against any other payments required by tin’s Agreement. Each of the foregoing payments shall be made only once for the first Licensed Product. Thereafter, no additional Milestone Payments shall be due or payable by Cardiokine to
Wyeth under this Agreement or for other Licensed Products. 
 5.2 Royalties. Cardiokine shall pay Wyeth royalties on Net Sales on
Licensed Products at the rates set forth m the below table. Royalty payments shall be made by Cardiokine to Wyeth on a [####] for Net Sales of Licensed Product(s) that are manufactured or sold in such country and (i) such manufacture or sale
is covered by one or more Valid Claims of an issued patent within the Licensed Patents or (ii) until the [####] anniversary of the First Commercial Sale of said Licensed Product(s) in such country, whichever is latest; provided however
that in the event that no Valid 

  
 -7- 

 
Claim of a patent within the Licensed Patents covers the manufacture or sale of a Licensed Product(s) within a particular country and a Licensed Compound (or other compound previously within the
scope of a Valid Claim) is being marketed by one or more Third Parties in such country at a level equal to [####] or more of the market for such compounds based on volume of units sold in such country, the applicable royalty rates with respect to
Net Sales of such Licensed Produces) in such country shall be reduced by [####]: 
  

			
	 On that Portion of
 Net Sales in the
Territory during a
 Calendar Year:
	  	Royalty Rate (% of
Net Sales)
	 [####]
	  	[####]
	 [####]
	  	[####]
	 [####]
	  	[####]
	 [####]
	  	[####]
	 [####]
	  	[####]

 Generally, Net Sales shall be computed on the basis of sales of Licensed Products as set forth above. However,
if Cardiokine sells a Licensed Compound and knows or reasonably should know that some or all of such Licensed Compound subject to such sale will be Manufactured into Licensed Product intended for commercial sale or commercial distribution, then
Cardiokine shall pay royalties as set forth in this Section 5.2 on the Net Sales generated from such sale of Licensed Compound and submit reports and payments as set forth in Section 5.3; provided that to the extent some or all of
such Licensed Compound subject to such sale is subsequently Manufactured into Licensed Product intended for commercial sale or commercial distribution, then Cardiokine shall also pay royalties as set forth in this Section 5.2 on the difference
between the Net Sales from the sale of Licensed Products Manufactured from such Licensed Compound and the Net Sales from the sale of such Licensed Compound. 

5.3 Reports and Payments. 

5.3.1 Statements and Payments. Cardiokine, within [####]after the end of each Calendar Quarter, shall deliver to Wyeth a report
in form and substance reasonably acceptable to Wyeth setting forth for such Calendar Quarter the following information, on a Licensed Product by Licensed Product basis, the Net Sales of each Licensed Product (and supporting schedules showing the
information from which Cardiokine calculated Net Sales). No such reports shall be due for any Licensed Product before the First Commercial Sale of such Licensed Product. Cardiokine shall remit the total amount due under Section 5.2 in respect
of each Calendar Quarter at the time as it delivers the report required by this Section 5.3.1 for such Calendar Quarter but in no event later than [####]after the completion of such Calendar Quarter. 

5.3.2 Currency. All amounts payable hereunder shall be in United States dollars. To the extent that Cardiokine or its Affiliates
or sublicensees invoice Products in currency other than United States for purposes of calculating Net Sales, the invoiced amounts shall be converted to United States dollars at the rate of exchange quoted in the Wall Street Journal on the
last business day of the Calendar Quarter in which the applicable invoice was invoiced. 

  
 -8- 

 5.3.3 Reimbursements; Interest. To the extent this Agreement requires a Party
(the “Paying Party”) to reimburse the other Party (the “Paid Party”) for an expense, the Paying Party will so reimburse the Paid Party no later than [####]after receipt of the invoice from the Paid Party and receipts and
bills supporting the amount of the reimbursable expense. Overdue amounts under this Agreement shall bear interest at the lower of [####] 

5.3.4 Taxes and Withholding. All payments under this Agreement will be made without any deduction or withholding for or on
account of any tax unless such deduction or withholding is required by applicable United States laws or regulations. If Cardiokine or any of its Affiliates or sublicensees so required to deduct or withhold any such amount, Cardiokine (and/or its
Affiliates or sublicensees, as applicable) will (a) promptly notify Wyeth of such requirement, (b) pay to the relevant authorities the full amount required to be deducted or withheld promptly upon the earlier of determining that such
deduction or withholding is required or receiving notice that such amount has been assessed against Wyeth, and (c) promptly forward to Wyeth an official receipt (or certified copy) or other documentation reasonably acceptable to Wyeth
evidencing such payment to such authorities. The foregoing shall not be construed to permit Cardiokine to reduce the royalties payable to Wyeth as a result of any currency control measures or withholding obligations imposed by any governmental
authority, foreign or domestic, in respect of its transactions with its Affiliates or sublicensees or with Third Parties. Notwithstanding the above, in each country where the local currency is blocked and cannot be removed from the country, at the
election of Cardiokine, royalties accrued in that country shall be paid to Wyeth in the country in local currency by deposit in a local bank designated by Wyeth. 

5.4 Maintenance of Records; Audits. 

5.4.1 Record Keeping. Cardiokine shall keep and shall cause its Affiliates and sublicensees to keep accurate books and accounts
of record in connection with die sale of Licensed Products during the term of this Agreement, in sufficient detail to permit accurate determination of all figures, including Net Sales, necessary for verification of amounts to be paid hereunder.
Cardiokine and its sublicensees shall maintain such records for a period of at least three (3) years after the end of the calendar year in which they were generated. 

5.4.2 Audits. Upon [####]prior written notice from Wyeth, Cardiokine shall permit and shall cause its Affiliates and sublicensees
to permit an independent certified public accounting firm selected by Wyeth to examine the relevant books and records of Cardiokine and its Affiliates as may be reasonably necessary to verify the accuracy of the reports submitted in accordance with
Section 5.3.1 and the payment of all amounts hereunder. Such audits shall be conducted no more than [####]. Cardiokine shall have the right to approve the auditor selected by Wyeth, such approval not to be unreasonably withheld. The accounting
firm shall be provided access to such books and records at Cardiokine’s facility(ies) where such books and records are normally kept and such examination shall be conducted during Cardiokine’s normal business hours. Cardiokine may require
the accounting firm to sign a standard non-disclosure agreement before providing the accounting firm access to Cardiokine’s facilities or records. Upon completion

  
 -9- 

 
of the audit, the accounting firm shall provide to Cardiokine and Wyeth a written report disclosing whether the reports submitted by Cardiokine are correct or incorrect, whether the royalties
paid are correct or incorrect, and, in each case, the specific details concerning any discrepancies. Any sublicense by Cardiokine of its rights under this Agreement shall contain an audit provision that permits Wyeth to audit the books and records
of die sublicensee to the same extent and using file same procedures as that set forth in this Section 5.4.2, 
 5.4.3
Underpayments/Overpayments. If such accounting firm concludes that additional royalties were due to Wyeth, Cardiokine shall pay to Wyeth the additional royalties within [####]of the date Cardiokine receives such accountant’s written
report so concluding. If such underpayment exceeds [####]of the royalties that should have been paid to Wyeth in respect of the period covered by such audit, Cardiokine also shall reimburse Wyeth for the reasonable out-of-pocket expenses incurred by Wyeth in conducting the audit. If such accounting firm correctly concludes that Cardiokine overpaid royalties to Wyeth, Wyeth will refund such overpayments to Cardiokine
within [####]after the date Wyeth receives such accountant’s report so correctly concluding. 
 6. MARKETING PARTNERSHIP. 

6.1 Right of First Negotiation. In the event Cardiokine at any time seeks or determines to enter into a marketing partnership, co-promotion or other equivalent or similar arrangement (a “Marketing Partnership”) for a Licensed Product within the Territory, Cardiokine shall provide Wyeth with written notice thereof (the
“Initial Notice”) and comply with this Section 6.1 prior to negotiating with any Third Party for such Marketing Partnership. Cardiokine shall also provide to Wyeth, together with such written notice, an electronic copy of the ND A
submitted to the FDA for such Licensed Product (if one has been submitted at the time of such Initial Notice) as well as the market studies and reports and other similar or related information and data in respect of such Licensed Product in
Cardiokine’s or its Affiliates’ possession or control in order for Wyeth to determine its interest in entering into a Marketing Partnership with Cardiokine. All such information provided to Wyeth hereunder shall be deemed to be
Confidential Information of Cardiokine. Wyeth shall have [####]from the date of its receipt of the Initial Notice to give Cardiokine written notice that it is exercising its right to negotiate with Cardiokine regarding a Marketing Partnership (such
notice being an “Exercise Notice”). If Wyeth gives Cardiokine an Exercise Notice within the foregoing [####] period, then during the period beginning on the date of the Exercise Notice and ending on the date that is [####] after the date
of the Exercise Notice, the Parties shall promptly and diligently negotiate, on an exclusive basis and in good faith, to enter into a Marketing Partnership for such Licensed Product on commercially reasonable terms. If (i) Wyeth fails to give
an Exercise Notice within the foregoing [####]day period or (ii) if the Parties are unable, within the foregoing [####]period, to enter into a term sheet or letter of intent setting forth the principal terms of the Marketing Partnership to be
entered into, or (iii) if the Parties are unable to enter into a definitive agreement setting forth all the terms and conditions of the Marketing Partnership within [####]after entering into said term sheet or letter of intent, then Cardiokine
shall be free to negotiate and enter into an agreement for a Marketing Partnership for such Licensed Product (the “Marketing Partnership Agreement”) with any Third Party; provided that the terms of the Marketing Partnership
Agreement with the Third Party, taken as a whole, may not be less favorable to Cardiokine than those last offered to Wyeth or proposed by Wyeth; and provided, further, that the Marketing Partnership Agreement must comply with the terms
and conditions of this Agreement. The provisions applicable to Cardiokine under this Article 6 shall also apply to any Affiliate of Cardiokine to which Cardiokine has granted or otherwise extended its rights hereunder. 

  
 -10- 

 7. INTELLECTUAL PROPERTY. 

7.1  Filing, Prosecution and Maintenance of Licensed Patents. 

7.1.1 Patent Prosecution and Maintenance. From and after the date of this Agreement, the provisions of this Section 7 shall
control the preparation, filing, prosecution and maintenance of all patent applications and patents included within the Licensed Patents. Subject to the requirements, limitations and conditions set forth in this Agreement, Wyeth shall direct and
control (i) the preparation, filing and prosecution of the United States and foreign patent applications within Licensed Patents (including any interferences and foreign oppositions) and (ii) maintain the patents issuing therefrom. Wyeth shall
select the patent attorney, subject to Cardiokine’s written approval, which approval shall not be unreasonably withheld. Both Parties hereto agree that Wyeth may at its sole discretion, utilize Wyeth
in-house counsel in lieu of independent counsel for patent prosecution and maintenance described herein, and the fees and expenses incurred by Wyeth with respect to work done by such Office of Patent Counsel
shall be paid as set forth below. Cardiokine shah have full rights of consultation with the patent attorney so selected on all matters relating to Licensed Patents. Wyeth shall keep Cardiokine timely and fully informed of the progress of all matters
relating to the Licensed Patents, and give Cardiokine and Cardiokine s counsel reasonable opportunity to comment on the preparation and prosecution of all patent applications within the Licensed Patents, including but not limited to the type and
scope of useful claims and the nature of supporting disclosures. Wyeth shall use reasonable efforts to implement all reasonable requests made by Cardiokine with regard to the preparation, filing, prosecution and/or maintenance of the patent
applications and/or patents within Licensed Patents. Prior to abandoning any Licensed Patent, Wyeth shall consult with Cardiokine. If Wyeth decides to abandon any Licensed Patent, then Wyeth shall give Cardiokine reasonable notice to this effect and
thereafter Cardiokine may (but shall not have the obligation to) upon written notice to Wyeth, take responsibility for prosecuting or maintaining the Licensed Patent that Wyeth has decided to abandon at Cardiokine’s sole cost and expense, and
Wyeth shall assign ownership of such Licensed Patent to Cardiokine. 
 7.1.2 Information to Cardiokine. Wyeth shall promptly deliver
to Cardiokine copies of (a) all file histories of all patents within the Licensed Patents, (b) all patent application files for patent applications within the Licensed Patent, (c) copies of all communications and documents
received by Wyeth that relate to such patents and patent applications, and (d) copies of all filings or submissions made or to be made by Wyeth that relate to such patents and patent applications. 

7.1.3 Patent Costs. Wyeth shall pay for all patent costs and expenses as described in this Section 7.1. 

7.1.4 Wyeth Right to Pursue Patent. If at any time during the term of this Agreement, Cardiokine’s rights with respect to
one or more Licensed Patents are terminated, Wyeth shall have the right to take whatever action Wyeth deems appropriate to obtain or maintain the corresponding patent protection. 

  
 -11- 

 7.2 Enforcement of Licensed Patents. 

7.2.1 Notice. Each Party shall promptly inform the other Party of any suspected infringement or violation of any of the Licensed
Patents by a Third Party and provide such other Party with any available evidence of such suspected infringement 
 7.2.2 Enforcement.

 7.2.2.1 During the term of this Agreement, the Parties shall consult with each other regarding the infringement of any patent within
Licensed Patents. During or following said consultation, Cardiokine shall have the right, but shall not be obligated, to take steps to abate the infringement and/or to institute, prosecute and control at its own expense any action or proceeding with
respect to any infringement of such patent by a Third Party and, in furtherance of such right, Wyeth hereby agrees that Cardiokine may include and join Wyeth as a party plaintiff in any such suit, without expense to Wyeth. 

In the event that Cardiokine determines to bring suit against an alleged Third Party infringer, the total cost of any such infringement action commenced
solely by Cardiokine shall be borne by Cardiokine, provided that Wyeth may elect to fund up to [####]of the out-of-pocket expenses and legal fees in return for up to
[####]of the recoveries as set forth below. Cardiokine shall keep any recovery or damages for past infringement derived therefrom, except that, Cardiokine shall share such balance in proportion to each Party’s share of such expenses and legal
fees, said balance to be calculated following, and subject to, reimbursement of expenses as described in Section 7.2.2.3 below. Ln the event such infringement adversely affects the scope or validity of the Licensed Patents, no settlement,
consent judgment or other voluntary disposition of any such suit may be entered into without the consent of Wyeth, which consent shall not be unreasonably withheld or delayed. Wyeth shall have [####]from the date of Cardiokine’s written notice
to Wyeth either to consent or to object in writing, stating in reasonable detail the reasons for withholding consent. No response within such period shall be deemed to constitute Wyeth’s consent. Notwithstanding the foregoing, Wyeth may elect
at its option to participate in the prosecution of any such infringement action through counsel of its own choice at its own expense. 

7.2.2.2 If within [####]after having been notified of any alleged infringement of the Licensed Patents by a Third Party, Cardiokine shall have
been unsuccessful in persuading the alleged infringer to cease and desist or shall not have brought and shall not be diligently prosecuting an infringement action, or if Cardiokine shall notify Wyeth at any time prior thereto of its intention not to
bring suit against any alleged infringer then, and in those events only, Wyeth shall have the right, but shall not be obligated, to prosecute at its own expense any infringement of the Licensed Patents covering the Licensed Products, and Wyeth may,
for such purposes, include and join Cardiokine as party plaintiff in any such suit, without expense to Cardiokine. In such event, the total cost of any such infringement action commenced solely by Wyeth shall be borne by Wyeth, provided that
Cardiokine may elect to fund up to [####]of the out-of-pocket expenses and legal fees in return for up to [####] of the recoveries as set forth below. Wyeth shall keep
any recovery or damages for past infringement derived therefrom, except that, 

  
 -12- 

 
Wyeth shall share such balance in proportion to each Party’s share of such expenses and legal fees, said balance to be calculated following, and subject to, reimbursement of expenses and
legal fees as described in Section 7.2.23 below. In the event such infringement adversely affects the scope or validity of the Licensed Patents, no settlement, consent judgment or other voluntary final disposition of the suit may be entered
into without the consent of Cardiokine, which consent shall not be unreasonably withheld or delayed. Cardiokine shall have [####]from the date of Wyeth’s written notice to Cardiokine either to consent or to object in writing, stating in
reasonable detail the reasons for withholding consent. No response within such period shall be deemed to constitute Cardiokine’s consent. Notwithstanding the foregoing, Cardiokine may elect at its option to participate in the prosecution of any
such infringement action through counsel of its own choice at its own expense. 
 7.2.2.3 In the event either Party shall undertake die
enforcement of the Licensed Patents covering the Licensed Products, any recovery of damages by such Party for such suit shall be applied first in satisfaction of any expenses and legal fees of such Party (and, if applicable, the expenses and legal
fees of the other Party that has elected to and has paid up to [####]of the out-of-pocket expenses and legal fees associated with said enforcement) relating to such
enforcement and the balance remaining from any such recovery distributed as set forth in Section 7.2.2.1 or Section 7.2.2.2, as the case may be. 

7.2.2.4 In any infringement suit which either Party may institute to enforce the Licensed Patents pursuant to this Agreement, or in a suit for
patent infringement which is brought by a Third Party against Wyeth or Cardiokine, which either Party or both Parties are required or elect to defend, the other Party hereto shall, at the request and the expense of the Party initiating or defending
such suit, cooperate in all reasonable respects and, to the extent reasonably possible, have its employees testify when requested and make available relevant records, papers, information, samples, specimens, and the like. 

7.2.2.5 Cardiokine shall have the sole right subject to the terms and conditions hereof to sublicense any alleged infringer for future use of
the Licensed Patents for Licensed Products. Any upfront fees paid to Cardiokine as part of a sublicense agreement made in settlement of the infringement action shall be applied first in satisfaction of any expenses and legal fees of Cardiokine
relating to such suit and the balance remaining from any such recovery distributed as set forth in Section 7.2.2.1 above. 
 7.3
Infringement Defense. Cardiokine shall have the right, but not the obligation, to defend and control any suit against any of Cardiokine, Cardiokine’s Affiliates or sublicensees, alleging infringement of any patent or other
intellectual property right of a Third Party arising out of the manufacture, use, sale offer to sell or importation of a Licensed Compound or Licensed Product by Cardiokine, Cardiokine’s Affiliates or sublicensees. Cardiokine shall be
responsible for the costs and expenses, including lawyer’s fees and costs, associated with any suit or action, Cardiokine and Wyeth will consult with one another and cooperate in the defense of any such action. If Cardiokine finds it necessary
or desirable to join Wyeth as a party to any such action, Wyeth will execute all papers and perform such acts as shall be reasonably required, at Cardiokine’s expense. In the event the patent claim of any Third Party is held in a final and
unappealable order of a court to be valid and infringed, or if Cardiokine enters into a settlement of such proceedings, Cardiokine shall pay the foil amount of any damages and/or settlement amounts due to such Third Party. 

  
 -13- 

 7.4 Patent Certifications. Wyeth shall immediately give written notice to
Cardiokine, and Cardiokine shall immediately give written notice to Wyeth, of any certification of which it becomes aware filed pursuant to 21 U.S.C. § 355(b)(2)(A), or § 355(j)(2)(A)(vii) (or any amendment or successor statute
thereto) claiming that a Licensed Patent covering any Licensed Product is invalid or that infringement of such Licensed Patent will not arise from the development, manufacture, use or sale of any product by a Third Party. The provisions of
Section 7.2.2 shall thereafter apply as if such Third Party were an infringer or suspected infringer. 
 7.5 Patent Term
Restoration. Cardiokine and Wyeth shall cooperate in obtaining patent term restoration or any similar benefit for the Licensed Patents. Wyeth and Cardiokine shall discuss which countries in which such patent term restoration or similar
benefits are to be sought and Wyeth shall seek such restoration in any country selected by Cardiokine. Cardiokine shall, at Wyeth’s reasonable request and at Wyeth’s expense, take all actions and execute all documents as reasonably
necessary or appropriate to accomplish same. In the event that Wyeth elects not to seek restoration in a country selected by Cardiokine, Wyeth shall cooperate with Cardiokine in securing restoration in such country by taking all actions and
executing all documents as reasonably necessary or appropriate to accomplish same. In such event, Cardiokine shall apply the cost for seeking such restoration as an advance on royalties to be paid to Wyeth. 

7.6 Trademarks. Cardiokine may, at its own expense, select, use, apply and seek to register in the Territory (and maintain such
registration once obtained), one or more Trademarks for use in connection with Commercializing the Licensed Products; provided, that if Wyeth and Cardiokine enter into a Marketing Partnership pursuant to Section 6, Wyeth shall be
entitled to participate in selection of a trademark that is reasonably acceptable to both Parties. 
 8. CONFIDENTIALITY AND PUBLIC ANNOUNCEMENTS.

 8.1 Confidentiality. Except to the extent expressly authorized by this Agreement, each Party (the “Receiving
Party”) receiving any Confidential Information of the other Party (the “Disclosing Party”) agrees for the term of this Agreement and for [####]thereafter to, and shall cause its applicable Affiliates and its own and its applicable
Affiliates’ employees and agents to, do the following: (a) keep in strictest confidence, the existence, source, content and substance of the Disclosing Party’s Confidential Information, (b) employ at least the same methods and
degree of care (but no less than a reasonable degree of care) to prevent disclosure of the Disclosing Party’s Confidential Information as such Receiving Party employs with respect to its own Confidential Information, and (c) disclose the
Disclosing Party’s Confidential Information to employees and agents solely on a need-to-know basis, and only if such employee or agent has executed a
confidentiality agreement which imposes on such employee or agent a duty to maintain the confidentiality of the Disclosing Party’s Confidential Information and only after informing the employee or agent of the confidential and/or proprietary
nature of the Disclosing Party’s Confidential Information. 

  
 -14- 

 8.2 Authorized Disclosure and Use. Notwithstanding the provisions of
Section 8.1, each Party may use and disclose Confidential Information belonging to the other Party to the extent such use or disclosure is reasonably necessary to (a) prosecute or defend litigation provided that such Party shall
provide the Disclosing Party with prompt notice of such request so that the Disclosing Party may seek an appropriate protective order or other remedy) or waiver of compliance therewith (and the Receiving Party shall cooperate reasonably with the
Disclosing Party in all respects in seeking to obtain a protective order, waiver or other remedy and otherwise diligently contest or limit the required disclosure or (b) exercise rights hereunder; provided that any such disclosure is
covered by terms of confidentiality similar to or more stringent than those set forth herein. In addition, Cardiokine may provide Confidential Information of Wyeth (i) to Cardiokine’s (sub)licensees, distributors, collaborators, investors
and partners (and to any potential (sub)licensees, distributors, collaborators, investors and partners) and to Cardiokine’s legal and financial and other representatives and advisors in connection with the exercise of the license and other
rights granted to Cardiokine and its Affiliates and sublicensees under this Agreement, and/or in connection with any due diligence in connection with any actual or potential acquisition of Cardiokine, including any sale, merger or transfer of any of
the assets or business of Cardiokine, provided that any such disclosure is covered by terms of confidentiality similar to or more stringent than those set forth herein; and (ii) to any regulatory or other governmental agencies in connection
with any filings with, or disclosures or submissions to, or any inspections or inquiries by, any regulatory or other governmental agencies in any country of the Territory and in connection with securing regulatory, pricing or other approvals in the
Territory. 
 8.3 Disclosures Required by Law. Notwithstanding the provisions of Section 8.1, a Receiving Party may make
such disclosures of Confidential Information of the Disclosing Party to intended recipients (and no others) to the extent, and only to the extent, required, in the reasonable opinion of such Party’s counsel, to comply with applicable law or
regulation or the requirements of a national securities exchange or another similar regulatory body. In the event that such Receiving Party is requested or required by applicable law or regulations to disclose any Confidential Information of the
Disclosing Party, such Receiving Party shall provide the Disclosing Party with prompt notice of such request, requirement or other similar process so that the Disclosing Party may seek an appropriate protective order (or other remedy) or waiver of
compliance therewith. The Receiving Party shall cooperate reasonably with the Disclosing Party in all respects in seeking to obtain a protective order, waiver or other remedy and otherwise diligently contest or limit the required disclosure. 

8.4 Public Announcements. Neither Party will make any public announcement regarding this Agreement without the prior written
consent of the other Party; provided that upon execution of this Agreement, the Parties shall mutually agree to the terms of a press release, which shall be promptly issued by the Parties, and an accompanying “Q&A.” 

8.5 Equitable Remedies. The Parties acknowledge and agree that money damages may not be a sufficient remedy for any breach or
threatened breach of this Section 8 and that the Parties shall be entitled, without the requirement of posting a bond or other security, to seek specific performance and injunctive or other equitable relief as a remedy for any such breach or
threatened breach. Such remedies shall not be deemed to be the exclusive remedies for a breach or threatened breach of this Section 8 but shall be in addition to all other remedies available to the Parties at law or in equity. 

  
 -15- 

 9. REPRESENTATIONS AND WARRANTIES. 

9.1 Disclaimer. EXCEPT AS SET FORTH IN THIS SECTION 9, WYETH MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND,
EITHER EXPRESS OR IMPLIED (INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR PURPOSE), AND ASSUMES NO LIABILITIES WHATSOEVER, WITH RESPECT TO THE INVENTORY OF COMPOUND, FORMULATED CLINICAL SUPPLIES OF COMPOUND AND
PRODUCTS SUPPLIED TO CARDIOKINE PURSUANT TO SECTION 4.2. IN ADDITION, WYETH HEREBY DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES OF ANY KIND, EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES STATED BELOW IN THIS SECTION 9. WITHOUT
LIMITATION OF THE FOREGOING GENERALITY, NOTHING CONTAINED HEREIN OR IN ANY DISCLOSURE MADE BY OR ON BEHALF OF WYETH SHALL BE CONSTRUED AS EXTENDING ANY REPRESENTATION OR WARRANTY WITH RESPECT TO THE WYETH INTELLECTUAL PROPERTY OR THE RESULTS TO BE
OBTAINED BY THE USE OF THE WYETH INTELLECTUAL PROPERTY, OR THAT ANYTHING MADE, USED, OR SOLD BY USE OF THE WYETH INTELLECTUAL PROPERTY, OR ANY PART THEREOF, ALONE OR IN COMBINATION, WILL BE FREE FROM INFRINGEMENT OF PATENTS OF THIRD PARTIES. IN THE
EVENT THAT WYETH RECEIVES ANY LICENSE RIGHTS’ PURSUANT TO SECTION 11.5, CARDIOKINE MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED (INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OR MERCHANTABILITY OR
FITNESS FOR PURPOSE), AND ASSUME NO LIABILITIES WHATSOEVER WITH RESPECT TO THE INTELLECTUAL PROPERTY, CARDIOKINE KNOW-HOW, OR OTHER INFORMATION OR MATERIALS PROVIDED TO WYETH PURSUANT TO SECTION 11.5. EXCEPT
FOR BREACH BY EITHER PARTY OF ITS OBLIGATIONS PURSUANT TO SECTION 8, AND EACH PARTY’S INDEMNIFICATION OBLIGATIONS PURSUANT TO SECTION 12, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY, ITS AFFILIATES, OR ANY OTHER PARTY, REGARDLESS OF THE
FORM OR THEORY OF ACTION (WHETHER CONTRACT, TORT, INCLUDING NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE), FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR OTHER EXTRAORDINARY DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT, EVEN IF
ADVISED OF THE POSSIBILITY THEREOF. 
 9.2 Representations and Warranties of Each Party. Notwithstanding the first sentence of
Section 9.1, each Party hereby represents and warrants to the other Party as follows: 
 (i) it is a corporation or entity duly
organized and validly existing under the laws of the state or other jurisdiction of its incorporation or formation; 
 (ii) the execution,
delivery and performance of this Agreement by such Party has been duly authorized by all requisite corporate action and does not require any shareholder action or approval; 

(iii) it has the power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and, 

  
 -16- 

 (iv) the execution, delivery and performance by such Party of this Agreement and its
compliance with the terms and provisions hereof does not and will not conflict with or result in a breach of any of the terms and provisions of or constitute a default under (i) the provisions of its charter or operative documents or bylaws;
(ii) any order, writ, injunction or decree of any court or governmental authority entered against it or by which any of its property is bound; or (iii) violate, breach, cause a default under, or otherwise give rise to a right of
termination, cancellation or acceleration with respect to (presently with the giving of nonce, or the passage or time) any agreement to which such Party or any of its Affiliates is a party, or by which any of us assets are bound. 

9.3 Additional Representations, Warranties and Covenants of Cardiokine. Cardiokine hereby represents, warrants, and
covenants to Wyeth as follows: 
 (i) as of the signing of this Agreement, Cardiokine has properly determined that the fair market value of
the transactions contemplated by this Agreement is less than [####]and no filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder is required in connection with the
transactions contemplated hereby; and 
 (ii) it is not entering into this Agreement and taking the license granted herein for the purpose
of transferring rights under the Licensed Patents or Licensed Know-How to any Third Party for payments, royalties or other compensation. 

9.4 Additional Representations, Warranties and Covenants of Wyeth. Wyeth hereby represents, warrants and covenants to Cardiokine
as follows: 
 (a) all Licensed Patents as of tire Effective Date are listed on Exhibit A attached hereto; 

(b) as of the Effective Date, there are no claims, judgments or settlements against or owed by Wyeth relating to the Licensed Patents or
Licensed Know-How; 
 (c) as of the Effective Date, neither Wyeth or its Affiliates has any
vasopressin, antagonist within the Field at IND track or in clinical trials or later stage of development or commercialization; 
 (d)
neither Wyeth nor its Affiliates have, prior to the Effective Date, entered into, and Wyeth shall not, and shall ensure that its Affiliates shall not, following the Effective Date, enter into any agreement to, or grant any license, right or
privilege which agreement, license, right or privilege limits or conflicts in any way with Cardiokine’s rights hereunder or otherwise with the terms or conditions of this Agreement; 

(e) except as set forth on Exhibit A, Wyeth is the sole and exclusive owner of all right, title and interest in and to the Wyeth Intellectual
Property, free and clear of any liens or other encumbrances; 
 (f) to Wyeth’s current knowledge, without any duty of investigation,
Wyeth has not done anything to invalidate or render unenforceable any of the Licensed Patents; 

  
 -17- 

 (g) to Wyeth’s current knowledge, without any duty of investigation, the making,
using, distribution, sale, offering for sale, import or export of the Licensed Compound in the Territory will not infringe, misappropriate or otherwise conflict with any intellectual property rights of any other Person; and 

(h) no claims of infringement, misappropriation or other conflict with any intellectual property rights or other rights of any Third Party
have been made or threatened with respect to the Licensed Compound or any Wyeth Intellectual Property, and Wyeth is not aware of any infringement or misappropriation of any of the Wyeth Intellectual Property by any Third Party. 

9.5 Representation by Legal Counsel. Each Party represents to the other that it has been represented by legal counsel in
connection with this Agreement and acknowledges that it has participated in the drafting of this Agreement. In interpreting and applying the terms and provisions of this Agreement, the Parties agree that no presumption shall exist or be implied
against the Party which drafted such terms and provisions. 
 10. GOVERNMENT APPROVALS. 

10.1 Government Approvals. Wyeth and Cardiokine will cooperate and use respectively all reasonable efforts to make all
registrations, filings and applications, to give all notices and to obtain as soon as practicable all governmental or other consents, transfers, approvals, orders, qualifications authorizations, permits and waivers, if any, and to do all other
things necessary or desirable for the consummation of the transactions as contemplated hereby. 
 11. TERM AND TERMINATION. 

11.1 Term. The term of this Agreement will commence on the Effective Date and expire, unless this Agreement is terminated earlier
in accordance with this Section 12, on a country-by-country and Licensed
Product-by-Licensed Product basis, upon the later of (i) the expiration of the last to expire Licensed Patent conferring exclusivity to the Licensed Product or (ii)
the ten (10) year anniversary of the First Commercial Sale of each Licensed Product in the particular country. Upon the expiration of this Agreement with respect to a particular Licensed Product in a particular country, Cardiokine shall be
deemed to have an irrevocable, nonexclusive, fully paid-up, perpetual and royalty-free, folly transferable license under the Wyeth Intellectual Property to Manufacture and Commercialize such Licensed Product
in such country, which license shall include the right to grant sublicenses. 
 11.2 Termination for Material Breach. 

This Agreement may be terminated effective on a country-by-country and Licensed
Product-by-Licensed Product basis on written notice by Wyeth at any time during the term of this Agreement for material breach of a material term or condition of this
Agreement by Cardiokine, its Affiliates or sublicensees if, after the Parties have completed the dispute resolution process set forth in Section 13.1 hereof in a good faith effort to resolve any dispute relating to such alleged material breach,
such alleged material breach remains uncured for [####]in the case of nonpayment of any undisputed amount due, and [####]for all other material breaches, each measured from (i) the date written notice of such material breach is given to
Cardiokine or (ii) in the case of a dispute relating 

  
 -18- 

 
to such alleged material breach, the date of completion of the dispute resolution process set forth in Section 13.1 hereof; provided, however, that if such alleged material breach is
not reasonably susceptible of cure within such [####] period and Cardiokine uses reasonable and diligent good faith efforts to cure such alleged material breach, such [####] period shall be extended to [####]. 

11.3 Termination by Cardiokine at Will. Cardiokine, in its sole discretion, may terminate this Agreement: 

11.3.1 by giving written notice to Wyeth subsequent to Cardiokine’s completion of a Phase II or Phase III clinical study in
humans, which study is designed with efficacy endpoints and with sufficient statistical power such that it is intended to be a clinical study for demonstration of efficacy as part of a Regulatory Approval Application but prior to the filing of any
Regulatory Approval Application, such termination to be effective [####] after the date of such notice; or 
 11.3.2 after completion
of the first pivotal clinical trial and prior to NDA filing by giving Wyeth written notice, which termination shall become effective [####] after the date of such notice; and thereafter upon [####] written notice to Wyeth, 

11.4 Consequences of Wyeth Termination for Material Breach by Cardiokine. In the event this Agreement is terminated by Wyeth
pursuant to Section 11.2, all of the following shall occur: 
 (a) all licenses granted by Wyeth to Cardiokine herein will terminate
and all rights granted herein to Cardiokine will revert to Wyeth; 
 (b) Cardiokine will deliver to Wyeth copies of all documents, data,
computer-based data, and other materials constituting, including, summarizing or otherwise disclosing Licensed Know-How; 

(c) Cardiokine will cease use of Licensed Know-How and cease manufacture and sale of Licensed Compound
and Licensed Products; provided, however, that Cardiokine shall have the right to sell off any existing inventory of Licensed Compounds and Licensed Products for not more than [####]after the effective date of termination; 

(d) an officer of Cardiokine will certify in writing to Wyeth that Cardiokine has complied with Sections 11.4(b) and 11.4(c); 

(e) Cardiokine will submit a report in accordance with Section 5.3.1 within [####]after the date of termination; 

(f) Cardiokine will permit an audit in accordance with Section 5.4.2 within [####]after the date of termination; and 

(g) Cardiokine will pay to Wyeth all amounts accruing pursuant to the terms of this Agreement prior to the date of termination. 

11.5 Special Termination Provisions. In the event this Agreement is terminated by Cardiokine pursuant to Section 11.3 or by
Wyeth pursuant to Section 11.2 for an uncured material breach by Cardiokine in addition to all of the provisions of Section 114, upon written request from Wyeth within [####]after the date of termination, Cardiokine will 

  
 -19- 

 (a) grant to Wyeth an irrevocable, royalty-free, nonexclusive, worldwide license under all
patents and trademarks owned by Cardiokine that were used by Cardiokine in the Manufacture, use or sale of Licensed Compounds or Licensed Products (“Cardiokine IP”) to use such Cardiokine IP solely to Manufacture, use, and sell Licensed
Compounds and Licensed Products and for no other purpose whatsoever; 
 (b) provide to Wyeth, at Wyeth’s expense, all available
Cardiokine Know-How used by Cardiokine in the Manufacture, use or sale of Licensed Compounds or Licensed Products and grant to Wyeth an irrevocable, royalty-free, nonexclusive, worldwide license to use such
Cardiokine Know-How solely to Manufacture, use and sell Licensed Compounds and Licensed Products and for no other purpose whatsoever; 

(c) transfer and grant to Wyeth commercial rights in all available data and documentation relating to any Regulatory Filing for and all issued
Regulatory Approvals for Licensed Products provided that Wyeth will pay all out-of-pocket costs incurred by Cardiokine for such transfers; 

(d) sublicense or assign to Wyeth, as applicable and allowable, all agreements with any Third Party that relate to development, manufacture or
sale of Licensed Products (provided that Cardiokine has the right to sublicense or assign any such agreements to Wyeth hereunder without any financial obligation to, or conflict with the rights of, any other Person and provided further that any such
transfer shall be subject to the terms and conditions of any such agreements); and 
 (e) for [####]after the date of termination, subject
to Wyeth reimbursing Cardiokine for all of its out-of-pocket expenses in connection therewith, make available to Wyeth assistance that is reasonably necessary to effect
an orderly transfer to Wyeth of the .materials set forth in subsections (b) - (d) above. 
 11.6 Bankruptcy. Each Party may, in
addition to any other remedies available to it by law or in equity, exercise the rights set forth below by written notice to the other Party (the “Insolvent Party”), in the event the Insolvent Party shall have become insolvent or
bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the Insolvent Party or for all or a substantial part of its property, or any case or proceeding shall have been
commenced or other action taken by or against the Insolvent Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up arrangement, composition or readjustment of its debts or any
other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, distraint or similar process against any
substantial part of the property of the Insolvent Party, and any such event shall have continued for [####]undismissed, unbonded and undischarged. All rights and licenses granted under or pursuant to this Agreement by Wyeth are, and shall otherwise
be deemed to be, for purposes of Section 365 (n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. 

  
 -20- 

 (a) Wyeth. In the event Wyeth shall be an Insolvent Party, Cardiokine may: 

(i) terminate this Agreement; or 

(ii) keep this Agreement in full force and effect and retain all licenses granted by Wyeth to Cardiokine herein, subject to the payment to
Wyeth of all payments set forth above. 
 (b) Cardiokine. In the event Cardiokine shall be an Insolvent Party, Wyeth may, to
the extent permitted by applicable law, terminate this Agreement and all licenses granted to Cardiokine by Wyeth herein will revert to Wyeth and Cardiokine will comply with the provisions of Section 11.5. 

11.7 Survival of Certain Obligations. Expiration or termination of the Agreement shall not relieve the Parties of any obligation
accruing before such expiration or termination (including, without limitation, payment obligations so accruing under Sections 5.1 and 5.2), and the provisions of Sections 4.5, 7.2, 9.1, 11.4, 11.5 and 11.6 and Articles 1, 5, 8, 12 and 13 shall
survive the expiration or termination of the Agreement for any reason. Any expiration or early termination of this Agreement shall be without prejudice to the rights of either Party against the other accrued or accruing under this Agreement before
termination, including, without limitation, the obligations to pay royalties for Products sold before such termination. 
 12. INDEMNIFICATION. 

12.1 Indemnification by Cardiokine. Cardiokine will indemnify, defend and hold harmless Wyeth, its Affiliates, and each of their
respective employees, officers, directors and agents (each of the foregoing, a “Wyeth Indemnified Party”) from and against any and all liability, loss, damage, expense (including reasonable attorneys’ fees and expenses) and cost
(collectively, a “Liability”) that the Wyeth Indemnified Party may incur or be required to pay resulting from or arising out of and one or more of the following: 

(i) any Third Party claims of any nature arising out of the Research, Development, Manufacture or Commercialization of Licensed Compound(s)
and Licensed Product(s) by or on behalf or under the authority of any Cardiokine Indemnified Party (as defined in Section 12.2) or any sublicensee or subcontractor of any Cardiokine Indemnified Party, including, without limitation, in
connection with the conduct of any clinical trials or obtaining or maintenance of Regulatory Approvals; and 
 (ii) the material breach by
Cardiokine of any of its representations or warranties set forth in this Agreement. 
 12.2 Indemnification by Wyeth. Wyeth will
indemnify, defend and hold harmless Cardiokine and its Affiliates and any of their sublicensees, and each of their respective employees, officers, directors and agents (each of the foregoing, a “Cardiokine Indemnified Party”) from
and against any and all Liabilities that the Cardiokine Indemnified Party may incur or be required to pay resulting from or arising out of one or more of the following: (i) any Third Party claims of any nature arising out of the Research,
Development, Manufacture or Commercialization of 

  
 -21- 

 
Licensed Compound(s) and Licensed Product(s) by or on behalf or under the authority of any Wyeth Indemnified Party or any sublicensee or subcontractor of any Wyeth Indemnified Party, including,
without limitation, in connection with the conduct of any clinical trials or obtaining or maintenance of Regulatory Approvals in the event Wyeth receives the license rights specified in Section 11.5 or otherwise; and (ii) the material
breach by Wyeth of any of its representation or warranties set forth in this Agreement. 
 12.3 Procedure. Each Party will notify the
other in the event it becomes aware of a claim for which indemnification may be sought hereunder. In case any proceeding (including any governmental investigation) shall be instituted involving any Person in respect of which indemnity may be
sought pursuant to this Article 12, such Person (the “Indemnified Party”) shall promptly notify the Party with the responsibility to indemnify such Person (the “Indemnifying Party”) in writing and the Indemnifying Party and
Indemnified Party shall meet to discuss how to respond to any claims that are the subject matter of such proceeding. The Indemnifying Party, upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified Party
to represent the Indemnified Party and shall pay the reasonable fees and expenses of such counsel related to such proceeding. In any such proceeding, the Indemnified Party shall have the right to retain its own counsel, but the fees and expenses of
such counsel shall be at the expense of the Indemnified Party unless (a) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel or (b) the named parties to any such proceeding
(including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and representation of both Parties by the same counsel would be inappropriate due to actual or potential differing interests between them. All such fees
and expenses shall be reimbursed as they are incurred. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled
with such consent or if there be a final judgment for the plaintiff, the Indemnifying Party agrees to indemnify the Indemnified Party from and against any loss or liability by reason of such settlement or judgment. 

12.4 Insurance. Cardiokine agrees to obtain and maintain, during the term of this Agreement, commercial general liability
insurance, including product liability insurance, with reputable and financially secure insurance carriers, in each case with limits of not less than [####]per occurrence and [####]annually in the aggregate. Each such policy shall name Wyeth as an
additional insured. Within [####]after the Effective Date and thereafter within [####]after Wyeth’s request, Cardiokine shall provide Wyeth with a standard ACORD certification demonstrating compliance with this Section 12.4. 

13. MISCELLANEOUS. 
 13.1 Disputes.
The Parties recognize that a bona fide dispute as to certain matters may from time to time arise during the term of this Agreement. In the event of the occurrence of such a dispute and if the Parties are unable to resolve informally a dispute
between them arising from performance of or otherwise relating to this Agreement, either Party may, by written notice to the other Party (which notice shall specify, without limitation, the particulars of the dispute and the relevant provisions of
this Agreement relating to such dispute), have such dispute referred to their respective officers (designated below) or their successors for attempted resolution by good faith negotiations. Said designated officers are as follows: 

  
 -22- 

			
	For Wyeth:	  	Executive Vice President, Wyeth
	For Cardiokine:	  	President, Cardiokine, Inc.

 Any such dispute shall be submitted to the above-designated executive officers no later [####]following such request by either
Wyeth or Cardiokine. In the event the designated executive officers are not able to resolve any such dispute within [####]after submission of the dispute to such executive officers, Wyeth or Cardiokine, as the case may be, may pursue any legal or
equitable remedies available to it by filing a claim in the state or federal courts of the state of Delaware and each Party hereby consents to the jurisdiction of such court. Notwithstanding the foregoing, nothing in this Section 13.1 shall
prohibit a Party from seeking temporary or injunctive relief from a state or federal court in Delaware pending the resolution of a dispute in accordance with the provisions of this Section 13.1. All negotiations pursuant to this
Section 13.1 shall be treated as compromise and settlement negotiations. Nothing said or disclosed, nor any document produced, in the course of such negotiations which is not otherwise independently discoverable shall be offered or received as
evidence or used for impeachment or for any other purpose in any current or future arbitration or litigation. 
 13.2 Assignment.
Neither this Agreement nor any interest hereunder shall be assignable by Cardiokine without the prior written consent of Wyeth. The preceding sentence notwithstanding, Cardiokine may assign this Agreement and the licenses granted herein to an
Affiliate and to any Person in conjunction with any acquisition of Cardiokine, including in connection with the sale, transfer, or merger of all or substantially all of the assets or business of Cardiokine. This Agreement shall be binding upon and
inure to the benefit of the successors and permitted assigns of the Parties and the name of a Party appearing herein shall be deemed to include the names of such Party’s successors and permitted assigns to the extent necessary to carry out the
interest of this Agreement. Any assignment not in accordance with this Section 13.2 shall be void. 
 13.3 Further
Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as may be necessary or appropriate in order to cany out the purposes and intent of the Agreement. 

13.4 Force Majeure. Neither Party shall be liable to the other for delay or failure in the performance of the obligations on its
part contained in this Agreement if and to the extent that such failure or delay is due to circumstances beyond its control which it could not have avoided by the exercise of reasonable diligence. It shall notify the other Party promptly should such
circumstances arise, giving an indication of the likely extent and duration thereof and shall use all Commercially Reasonable Efforts to resume performance of its obligations as soon as practicable. Force Majeure shall not excuse obligations to pay
amounts due. 
 13.5 Correspondence and Notices. 

13.5.1 Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if
delivered personally, mailed by reputable overnight courier or certified mail (return receipt requested) or sent by facsimile (confirmed thereafter by certified mail which includes a copy of the report generated by the sending facsimile machine that
shows the date and time of transmission and that all pages of the notice were successfully transmitted) to tire Parties at the following addresses or at such other addresses as shall be specified by the Parties by like notice: 

  
 -23- 

	 	(i)	 If to Cardiokine: 

Cardiokine, Inc. 
 3701 Market
Street, 4th Floor 
 Philadelphia, PA 19104 

Attention: Chief Executive Officer 

Fax Number: [####] 
 with a copy
to: 
 [####] 
 Buchanan
Ingersoll 
 401 West A Street, Suite 1900 

San Diego, CA 92101 
  

	 	(ii)	 If to Wyeth: Wyeth 

Five Giralda Farms 
 Madison,
New Jersey 07940 
 Attention:     Senior Vice President 

                     and General
Counsel 
 Fax Number: [####] 

with a copy to: 
 Wyeth
Pharmaceuticals 
 500 Arcola Road 

Collegeville, Pennsylvania 19426 

Attention:     Senior Vice President, 

                     Global Business
Development 
 Fax Number: [####] 
 Notice so
given (in the case of notice so given by mail) shall be deemed to be given and received on the third calendar day after mailing or the next business day if sent by a reputable overnight courier and in the case of notice so given by facsimile or
personal delivery on the date of actual transmission or personal delivery, as the case may be. 
 13.6 Amendment. No amendment,
modification or supplement of any provision of this Agreement shall be valid or effective unless made in writing and signed by a duly authorized officer of each Party. 

  
 -24- 

 13.7 Waiver. The failure of a Party at any time to require or enforce the strict
performance by the other Party of any term or condition of this Agreement shall not constitute a surrender or waiver of that particular breach or default, or of any subsequent breach or default by such other Party with respect to any term or
condition of this Agreement, or the waiver by a Party of a breach or default committed by the other Party with respect to any term or condition of this Agreement, and shall not to any extent prejudice or adversely effect such first Party’s
rights, interest or remedies available or provided to it by law or otherwise which it may exercise or invoke with respect to that particular breach or default or any subsequent breach or default. Without limitation to the foregoing, no provision of
this Agreement may be waived except by an instrument in writing expressly waiving such provision and signed by a duly authorized officer of the waiving Party. 

13.8 Severability. If any provisions of this Agreement shall be held to be illegal, invalid or unenforceable under any applicable
law, then such contravention or invalidity shall not invalidate the entire Agreement. Such provision shall be deemed to be modified to the extent necessary to render it legal, valid and enforceable, and if no such modification shall render it legal,
valid and enforceable, then this Agreement shall be construed as if not containing the provision held to be invalid, and the rights and obligations of the Parties shall be construed and enforced accordingly; provided, that in the case of any
such deemed modification or construction, the Parties shall endeavor to retain to the maximum extent practicable the Parties’ intent upon entering into this Agreement. 

13.9 Descriptive Headings and Section References. The descriptive headings of this Agreement are for convenience only, and shall
be of no force or effect in construing or interpreting any of the provisions of this Agreement. References to “Articles”, “Sections” and “Clauses” shall be deemed to be references to articles, sections and clauses of
this Agreement. In this Agreement, the singular shall include the plural and vice versa and the words “including” and “include” shall be deemed to be followed by the phrase “without limitation.” 

13.10 Governing Law. This Agreement shall be governed, interpreted, construed and enforced in accordance with the internal laws
of the State of Delaware, without giving effect to the principles of conflicts of law thereunder. 
 13.11 Entire Agreement. With the
exception of the Non-Disclosure Agreement between the Parties effective as of April 10, 2003 (the “NDA”), this Agreement (including all Exhibits) constitutes the entire agreement, and
supersedes all prior and contemporaneous agreements and undertakings, both written and oral, between the Parties with respect to the subject matter hereof and is not intended to confer upon any other Person any rights or remedies hereunder. The NDA,
however, shall govern only disclosures made prior to the Effective Date, and this Agreement shall govern disclosures made on and after the Effective Date. 

13.12 Independent Contractors. Both Parties are independent contractors under this Agreement. Nothing herein contained shall be
deemed to create an employment, agency, joint venture or partnership relationship between the Parties or any of their agents or employees, or any other legal arrangement that would impose liability upon one Party for the act or failure to act of the
other Party. Neither Party shall have any express or implied power to enter into any contracts or commitments or to incur any liabilities in the name of, or on behalf of, the other Party, or to bind the other Party in any respect whatsoever. 

  
 -25- 

 13.13 Counterparts. This Agreement may be executed in two (2) counterparts, each
of which need not contain the signature of more than one Party but all such counterparts taken together shall constitute one and the same agreement. 

IN WITNESS WHEREOF, duly authorized representatives of the Parties have duly executed this Agreement to be effective as of the
Effective Date. 
  

			
	 WYETH, acting through its WYETH 

PHARMACEUTICALS DIVISION
	  	CARDIOKINE INC.
		
	By: /s/ Mark
Lee                                         
   	  	By: /s/James
Mervis                                        
    
		
	Name: Mark L. Lee	  	Name: James Mervis
		
	Title: Sr. Vice President, Business Development	  	Title: CEO

  
 -26- 

 EXHIBIT A 

[####] 

  
 A-1 

 EXHIBIT B 

[####] 

  
 B-1 

 [####] 

  
 B-2 

 [####] 

  
 B-3 

 [####] 

  
 B-4 

 [####] 

  
 B-5 

 AMENDMENT TO THE LICENSE AGREEMENT 

THIS AMENDMENT (this “Amendment”) is entered into this 3rd day of May, 2004 (the “Amendment Date”), by and between Wyeth,
a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at Five Giralda Farms, Madison, New Jersey 07940, acting through its Wyeth Pharmaceuticals Division (“Wyeth”), and
Cardiokine, Inc., a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at 3701 Market Street, 4th Floor, Philadelphia, PA 19104 (“Cardiokine”). Wyeth and Cardiokine may each
be referred to herein individually, as a “Party” and collectively, as the “Parties”. 
 WHEREAS, the Parties entered
into that certain License Agreement dated March 15,2004 (the “License Agreement”), and 
 WHEREAS, the
Parties now wish to amend the License Agreement, as set forth in this Amendment. 
 NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 
 1. Amendment. 

1.1 The Parties hereby agree to amend the License Agreement to add the following new Section 4.6: 

4.6. Transfer of IND to Cardiokine. Wyeth shall assign to Cardiokine [####] (hereinafter, the IND ), (b) provide Cardiokine with a complete
copy of the IND, and (c) submit a letter to the FDA stating that the IND has been assigned to Cardiokine. Cardiokine shall submit a letter to FDA, together with a revised first page of the IND (a completed Form 1571), accepting the ownership of
the IND and identifying the effective date of the transfer of the IND. The disclaimer of warranties in Section 9.1 of this Agreement shall apply to the IND and all studies, data and information in the IND. 

1.2 The Parties hereby agree to further amend the License Agreement to delete the current Section 6.1 of the License Agreement in its
entirety and replace it with the following new Section 6.1: 
 6.1 Right of First Negotiation. 

In the event Cardiokine at any time seeks or determines to enter into a marketing partnership,
co-promotion or other equivalent or similar arrangement (a “Marketing Partnership”) for a Licensed Product within the Territory, Cardiokine shall provide Wyeth with written notice thereof (the
“Initial Notice”) and comply with this Section 6.1 prior to negotiating with any Third Party for such Marketing Partnership. Cardiokine shall also provide ‘to Wyeth, together with such written notice, an electronic copy of the
NDA submitted to the FDA for such Licensed Product (if one 

 
has been submitted at the time of such Initial Notice) as well as the market studies and reports and other similar or related information and data in respect of such Licensed Product in
Cardiokine’s or its Affiliates’ possession or control in order for Wyeth to determine its interest in entering into a Marketing Partnership with Cardiokine. All such information provided to Wyeth hereunder shall be deemed to be
Confidential Information of Cardiokine. Wyeth shall have [####]from the date of its receipt of the Initial Notice to give Cardiokine written notice that it is exercising ‘ its right to negotiate with Cardiokine regarding a Marketing Partnership
(such notice being an “Exercise Notice”). If Wyeth gives Cardiokine an Exercise Notice within the foregoing [####]period, then during the period beginning on the date of the Exercise Notice and ending on the date that is [####]after the
date of the Exercise Notice, the Parties shall promptly and diligently negotiate, on an exclusive basis and in good faith, to enter into a Marketing Partnership for such Licensed Product on commercially reasonable terms If (i) Wyeth fails to
give an Exercise Notice within the foregoing [####]period or (ii) if the Parties are unable, within the foregoing [####], to enter into a term sheet or letter of intent setting forth the principal terms of the Marketing Partnership to be
entered into, or (iii) if the Parties are unable to enter into a definitive agreement setting forth all the terms and conditions of the Marketing Partnership within [####]after entering into said term sheet or letter of intent, then Cardiokine
shall be free to negotiate and enter into an agreement for a Marketing Partnership for such Licensed Product (the “Marketing Partnership Agreement”) with any Third Party; provided that the terms of the Marketing Partnership
Agreement with the Third Party, taken as a whole, may not be less favorable to Cardiokine than those last offered to Wyeth or proposed by Wyeth; and provided, further, that the Marketing Partnership Agreement must comply with the terms and
conditions of this Agreement. If the terms of the Marketing Partnership Agreement with the Third Party, taken as a whole, are less favorable to Cardiokine than those last offered to Wyeth or proposed by Wyeth, then Cardiokine may offer such terms
(the “Alternative Offer”) to Wyeth, and if Wyeth does not, within [####]of its receipt of the Alternative Offer, notify Cardiokine of its acceptance thereof and willingness to enter into further negotiations (the “Second Exercise
Notice”) to enter into a Marketing Partnership Agreement, then Cardiokine shall be free to enter into such Marketing Partnership Agreement with such Third Party. In the event that Wyeth gives Cardiokine the Second Exercise Notice, the parties
shall negotiate in good faith for a period not to exceed [####], unless otherwise mutually agreed, and if a definitive Marketing Partnership Agreement shall not be concluded, then Cardiokine shall be entitled to enter into such Agreement with the
Third Party. The provisions applicable to Cardiokine under this Article 6 shall also apply to any Affiliate of Cardiokine to which Cardiokine has granted or otherwise extended its rights hereunder. 

 2. Continuing Effect. This Amendment shall be effective for all purposes as of the Amendment Date.
Except as otherwise expressly modified by this Amendment, the License Agreement shall remain in full force and effect in accordance with its terms. 
 3.
Defined Terms. All terms used, but not defined, in this Amendment shall have the respective meanings as set forth in the License Agreement. 
 4.
Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

IN WITNESS WHEREOF, duly authorized representatives of the Parties have duly executed this Amendment to be effective as of the Amendment Date.

  

			
	WYETH, acting through its WYETH
	PHARMACEUTICALS DIVISION
		
	By:	 	/s/ Mark L. Lee
		
	Name:	 	Mark L. Lee
		
	Title:	 	Sr. Vice President, Business Development
	
	CARDIOKINE, INC.
		
	By:	 	James Mervis
		
	Name:	 	James Mervis
		
	Title:	 	CEO

 SECOND AMENDMENT TO LICENSE AGREEMENT 

THIS SECOND AMENDMENT TO LICENSE AGREEMENT (“Amendment”), effective as of October 14, 2004 (the “Amendment Effective
Date”), is entered into between WYETH, a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at Five Giralda Farms, Madison, New Jersey 07940, acting through its Wyeth
Pharmaceuticals division (“Wyeth”) and CARDIOKINE, INC., a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at 3701 Market Street, 4th Floor, Philadelphia, Pennsylvania
19104 (“Cardiokine”). 
 RECITALS 

A. The parties have entered into a license Agreement effective as of March 15, 2004, with respect to a vasopressin antagonist compound
known as lixivaptan (the “Agreement”). All terms used, but not defined, in this Amendment shall have the respective meanings set forth in the Agreement. 

B. The parties have entered into a first Amendment to the License Agreement effective as of May 3, 2004. 

C. The parties now desire to further amend the Agreement in certain respects on the terms and conditions set forth below 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants set forth below, the parties hereby amend the Agreement
and otherwise agree as follows: 
 1. AMENDMENTS. 

1.1 Section 5.1 is amended and restated as follows: 

5.1 Payments. Subject to the terms and conditions, and during the term of this Agreement, Cardiokine shall make
the following payments to Wyeth: 
 Within [####]after the Effective Date (the “Signing [####] Fee”) 

And within [####]after the first occurrence of each of the following events with respect to the Licensed Product(s) to achieve such milestone:

  

			
	[####]	  	$[####]
	[####]	  	$[####]
	[####]	  	$[####]
	[####]	  	$[####]
	[####]	  	$[####]

 [####]Total of Signing Fee and Milestone Payments $[####] 

Each of the foregoing payments shall be non-refundable and not creditable against any
other payments required by this Agreement. Each of the foregoing payments shall be made only once. Thereafter, no additional Milestone Payments shall be due or payable by Cardiokine to Wyeth under this Agreement or for other Licensed Products. 

2. MISCELLANEOUS. 
 2.1 This Amendment shall be
effective for all purposes as of the Amendment Effective Date. Except as otherwise expressly modified by this Amendment, the Agreement shall remain in full force and effect in accordance with its terms. 

2.2 This Amendment may be executed in counterparts, each of which shall be deemed to be an original and together shall be deemed to be one and
the same document. 
 IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Amendment effective as of the Amendment
Effective Date. 
  

			
	WYETH, acting through	  	CARDIOKINE, INC.
	its WYETH PHARMACEUTICALS DIVISION	  	
		
	By: /s/ Mark L. Lee	  	
		
	Name: Mark L. Lee	  	 /s/ David Brand

		  	David Brand
		
	Title: Sr. VP, Business Dev. Pharma	  	Chief Executive Officer

 THIRD AMENDMENT TO LICENSE AGREEMENT 

THIS THIRD AMENDMENT TO LICENSE AGREEMENT (“Amendment”), effective as of June 21, 2007 (the “Amendment Effective
Date”), is entered into between WYETH, a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at Five Giralda Farms, Madison, New Jersey 07940, acting through its Wyeth
Pharmaceuticals division (“Wyeth”) and CARDIOKINE, INC., a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at 30 South
15th Street, Philadelphia, Pennsylvania 19102 (“Cardiokine”). 
 RECITALS

  

	A.	 The parties have entered into a License Agreement effective as of March 15, 2004, with respect to a
vasopressin compound known as lixivaptan (the “License Agreement”). All capitalized terms used, but not defined, in this Amendment shall have the respective meanings set forth in the License Agreement. 

 

	B.	 The parties have entered into a first amendment to the License Agreement effective as of May 3, 2004, and
second amendment to the License Agreement effective as of October 14, 2004. 

  

	C.	 The parties now desire to further amend the License Agreement in certain respects on the terms and conditions
set forth below. 

  

	1.	 Amendments. 

The following sentence is added to Section 2.1 of the License Agreement: 

Wyeth hereby grants to Cardiokine a paid-up, royalty-free nonexclusive license, including the right to
grant sub-licenses, under [####] solely to Research, Develop, Manufacture and Commercialize Licensed Compounds and Licensed Products in the Field in the Territory. 

 

	2.	 Miscellaneous. 

  

	 	2.1	 This Amendment shall be effective for all purposes as of the Amendment Effective Date. Except as otherwise
expressly modified by this Amendment, the License Agreement shall remain in full force and effect in accordance with its terms. 

  

	 	2.2	 This Amendment may be executed in counterparts, each of which shall be deemed an original and together shall be
deemed to be one and the same document. 

 IN WITNESS WHEREOF, the undersigned duly authorized representatives of the parties have executed and
delivered this Amendment. 
  

			
	WYETH, acting through its	 	CARDIOKINE, INC.
	Wyeth Pharmaceuticals division	 	
		
	By: /s/ R.J. Smith	 	By: /s/ D. Brand
		
	Name: Robert J. Smith	 	Name: D. Brand
		
	Title: Senior Vice President	 	Title: CEO

 FOURTH AMENDMENT TO LICENSE AGREEMENT 

THIS FOURTH AMENDMENT TO LICENSE AGREEMENT (“Amendment”), effective as of the date of signature of the last Party to sign this Amendment (the
“Amendment Effective Date”), is entered into between WYETH, a corporation organized and existing under the laws of the State of Delaware and having a principal place of business at Five Giralda Farms, Madison, New Jersey 07940, acting
through its Wyeth Pharmaceuticals division (“Wyeth”) and CARDIOKINE BIOPHARMA, LLC, a limited liability company organized and existing under the laws of the State of Delaware and having a principal place of business at 30 South 15th Street, Philadelphia, Pennsylvania 19102 (“Cardiokine”). 
 RECITALS 

 

	A.	 Wyeth and Cardiokine, Inc., a corporation organized and existing under the laws of the State of Delaware and
having a principal place of business at 30 South 15th Street, Philadelphia, Pennsylvania 19102 (“Parent”), entered into a License Agreement effective as of March 15, 2004, with
respect to a vasopressin compound known as lixivaptan (the “License Agreement”). All capitalized terms used, but not defined, in this Amendment shall have the respective meanings set forth in the License Agreement. 

 

	B.	 Wyeth and Parent entered into a first amendment to the License Agreement effective as of May 3, 2004, a
second amendment to the License Agreement effective as of October 14, 2004 and a third amendment to the License Agreement effective as of June 21, 2007. 

 

	C.	 Cardiokine is wholly-owned by Parent. 

 

	D.	 Effective on August 1 2007, and pursuant to Parent’s right under Section 13.2 of the License
Agreement to assign the License Agreement to an Affiliate, Parent assigned to Cardiokine all its rights under, and Cardiokine assumed all of Parent’s obligations under, the License Agreement. 

 

	E.	 The parties now desire to further amend the License Agreement in certain respects on the terms and conditions
set forth below. 

  

	1.	 Amendments. 

  

	 	1.1	 The following new Sections 5.5 and 5.6 are added to the License Agreement. 

 

	 	5.5	 Buy-Out Payments. Cardiokine shall make the following non- refundable payments to Wyeth to buy-out the Milestone Payments and Royalties: 

Within [####]after the Amendment Effective Date (the “Initial Buy-Out Payment”): [####] 

Within [####]after the first occurrence of each of the following events with respect to the first Licensed Product to achieve such milestone
(the “Contingent Buy-Out Payments”): 

 [####]: [####] 

[####]: [####] 
  

	 	5.6	 Effect of Buy-Out Payments. In the event Cardiokine pays the
Initial Buy-Out Payment and both Contingent Buy-Out Payments to Wyeth, (a) the license to Cardiokine granted in Section 2.1 shall be fully paid-up with respect to all Licensed Patents and Licensed- Know-How; (b) Sections 3.1 (excluding the last sentence thereof), 3.2, 5.2, 5.3.1 and 11.6(b) shall be deemed
to have been deleted from the Agreement; (c) Wyeth’s right to terminate this Agreement shall be limited solely to instances in which Cardiokine engages in Research, Development, Manufacture and/or Commercialization of Licensed Compounds
and/or Licensed Products outside of the Field, and (d) in all other cases of a breach of this Agreement by Cardiokine, Wyeth’s remedy shall be limited to damages and equitable relief. 

 

	 	1.2	 Sections 5.1 (excluding the Signing [####] Fee, that has been paid), 5.4 and 6.1 of the License Agreement are
hereby deleted. 

  

	 	1.3	 The reference to Section 2.2 in Section 2.2 is hereby amended to be a reference to Section 2.1

  

	2.	 Miscellaneous. 

  

	 	2.1	 This Amendment shall be effective for all purposes as of the Amendment Effective Date. Except as otherwise
expressly modified by this Amendment, the License Agreement shall remain in full force and effect in accordance with its terms. 

  

	 	2.2	 This Amendment may be executed in counterparts, each of which shall be deemed an original and together shall be
deemed to be one and the same document. 

  
 -2- 

 IN WITNESS WHEREOF, the undersigned duly authorized representatives of the parties have executed and
delivered this Fourth Amendment To License Agreement. 
  

					
	WYETH, acting through its	  	CARDIOKINE BIOPHARMA, LLC
	Wyeth Pharmaceuticals division	  	
		
	By: /s/ R.J. Smith	  	By: /s/ Manuel Worcel
		
	Name: Robert J. Smith	  	Name: Manuel Worcel M.D., F.A.H.A.
			
	Title:	  	Senior Vice President,	  	Title: President and CEO
		  	Global Licensing	  	
			
	Date:	  	February 4, 2008	  	Date: February 6, 2008

  
 -3- 

 FIFTH AMENDMENT TO LICENSE AGREEMENT 

THIS FIFTH AMENDMENT TO LICENSE AGREEMENT (“Fifth Amendment”), executed as of the date of signature of the last Party to sign this Amendment
(the “ Fifth Amendment Signing Date”), is entered into between WYETH LLC (formerly known as “Wyeth”), a corporation organized and existing under the laws of the State of Delaware and having a principal place
of business at Five Giralda Farms, Madison, New Jersey 07940, acting through its Wyeth Pharmaceuticals division (“Wyeth”), and CARDIOKINE BIOPHARMA, LLC, a limited liability company organized and existing under the laws of the State
of Delaware and having a principal place of business at 30 South 15th Street, Philadelphia, Pennsylvania 19102 (assignee of Cardiokine, Inc., a corporation organized and existing under the laws of the State of Delaware)
(“Cardiokine”). 
 RECITALS 

WHEREAS, Wyeth and Cardiokine entered into a License Agreement effective as of March 15, 2004, with respect to a vasopressin compound
known as lixivaptan (as amended, the “License Agreement”); 
 WHEREAS, Wyeth and Cardiokine entered into a first amendment
to the License Agreement effective as of May 3, 2004, a second amendment to the License Agreement effective as of October 14, 2004, a third amendment to the License Agreement effective as of June 21, 2007, and a fourth amendment to
the License Agreement effective as of February 6, 2008 (the “Fourth Amendment”); 
 WHEREAS, Pursuant to a
Patent Assignment executed on April 21, 2011 (the “Patent Assignment Date”) by Wyeth Holdings Corporation, Cardiokine acquired all right, title and interest in and to the Assigned Patents (as defined in the Patent
Assignment) (the “Assigned Patents”); 
 WHEREAS, Cardiokine, Inc. (the “ Company”), the parent of
Cardiokine, is negotiating an agreement with Cornerstone Therapeutics Inc. (“Cornerstone”) pursuant to which Cornerstone would acquire, by way of a merger, all of the outstanding shares of the Company, such that the Company would
become a wholly owned subsidiary of Cornerstone and Cardiokine would become an indirect subsidiary of Cornerstone (the “Cornerstone Acquisition Agreement”); and 

WHEREAS, in furtherance of and in connection with Cornerstone’s acquisition of Cardiokine pursuant to the Cornerstone Acquisition
Agreement, the Parties now desire to further amend the License Agreement in certain respects. 
 NOW THEREFORE, in consideration of the
foregoing and of the mutual promises and covenants set forth below and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

 

	1.	 Defined Terms. Except as otherwise set forth herein, all capitalized terms used, but not defined,
in this Fifth Amendment shall have the respective meanings set forth in the License Agreement; provided, however, that, except as otherwise set forth therein, all capitalized terms used in Schedule A attached hereto shall have
the respective meanings set forth in Schedule A. 

  
 1 

	2.	 Effect of Fifth Amendment. The Parties agree that this Fifth Amendment shall become effective
immediately prior to the [Effective Time] of the Cornerstone Acquisition Agreement (the “Fifth Amendment Effective Date”) and that should the Cornerstone Acquisition Agreement not be entered into or, if entered into, the Closing (as
defined in the Cornerstone Acquisition Agreement) does not occur, this Fifth Amendment shall not become effective and shall be void ab initio. 

  

	3.	 Buy-Out Payments. As of the Fifth Amendment Effective Date,
Sections 5.5 and 5.6 of the License Agreement are hereby deleted and replaced with the following: 

  

	 	“5.5	 Buy-Out Payments. Cardiokine or its Affiliate shall make the
following nonrefundable payments to Wyeth to buy-out the Milestone Payments and royalties: 

  

	 	(a)	 Within [####]after the Amendment Effective Date (as defined in the Fourth Amendment) an initial payment (the
“Initial Buy-Out Payment”) in the amount of [####]. 

  

	 	(b)	 On the Closing Date (as defined in Schedule A), [####] (the “Acquisition Buy-Out Payment”). 

  

	 	(c)	 The Contingent Consideration (as defined in Schedule A); provided, however, that the
portions of the Net Sales Payments and Ex-US Net Sales Payments (each as defined in Schedule A) which are paid to Wyeth pursuant to this Section 5.5(b) shall be fully credited toward the payments
due pursuant to Section 5.2 of the Agreement. 

  

	 	(d)	 The maximum amount of the sum of the Acquisition Buy-Out Payment and
Contingent Consideration payable by or on behalf of Cardiokine to Wyeth hereunder shall not exceed [####]. In the event that payment of any particular Contingent Payment (as defined in Schedule A) would result in the sum of the Acquisition Buy-Out Payment and all Contingent Payments to exceed [####], the amount of such Contingent Payment shall be reduced by the amount by which the sum of such payment, the Acquisition
Buy-Out Payment and all previous Contingent Payments exceeds [####] and thereafter no further Contingent Payments shall be due under this Agreement.” 

 

	 	“5.6	 Effect of Buy-Out Payments. In the event Cardiokine or its
Affiliates pay to Wyeth both (a) the Initial Buy-Out Payment and (b) the Acquisition Buy-Out Payment and Contingent Consideration, which Acquisition Buy-Out Payment and Contingent Consideration, in the aggregate, total [####], (i) the license to Cardiokine granted in Section 2.1 shall thereafter be fully paid-up with
respect to all Licensed Patents and Licensed Know-How, (ii) 

  
 2 

	 	
Sections 3.1 (excluding the last sentence thereof), 3.2, 5.2, 5.3.1, 5.3.2, 5.5 and 11.6(b) shall thereafter be deemed to have been deleted from the Agreement; (iii) Wyeth’s right to
terminate this Agreement shall be limited solely to instances in which Cardiokine or any Affiliate of Cardiokine engages in Research, Development, Manufacture and/or Commercialization of Licensed Compounds and/or Licensed Products outside of the
Field, and (iv) in all other cases of a breach of this Agreement by Cardiokine, Wyeth’s remedy shall be limited to damages and equitable relief.” 

  

	4.	 Wyeth Performance Obligations. Cardiokine acknowledges and agrees that Wyeth has met all of its
performance obligations under the License Agreement and has no further performance obligations under the License Agreement as amended hereby. 

  

	5.	 Ratification. The License Agreement is hereby ratified as amended by this Fifth Amendment and
shall remain in full force and effect in accordance with its terms as modified hereby. For the sake of clarity, the Parties acknowledge that the Initial Buy-Out Payment had been paid by Cardiokine to Wyeth
prior to the Fifth Amendment Execution Date. 

  

	6.	 Counterparts. This Fifth Amendment may be executed in counterparts, each of which shall be deemed
an original and together shall be deemed to be one and the same document. 

 [Remainder of Page Intentionally Left
Blank] 

  
 3 

 IN WITNESS WHEREOF, the undersigned duly authorized representatives of the parties have executed and
delivered this Fifth Amendment To License Agreement. 
  

			
	 WYETH LLC, acting through its Wyeth

Pharmaceuticals division
	  	CARDIOKINE BIOPHARMA, LLC
		
	By: /s/ R.J.
Smith                                        
              	  	By: /s/ Len
Selihar                                        
              
	Name: Robert J. Smith	  	Name: Len Selihar
	Title: Senior Vice President	  	Title: Vice President,All. MGMT and Corp. Dev.
		
	Date: December 27, 2011	  	Date: 12.27.2011

  
 4 

 SCHEDULE A 

Contingent Consideration 

(a) “Contingent Consideration” means each of the following payments (each, a “Contingent Payment”): 

(i) The following payments based on Approvals (collectively, the “Approval Contingent Payments”): 

(A) [####] within ten (10) Business Days after any Selling Person receives Approval A (the “Minimum Approval Payment”); and

 (B) [####] within ten (10) Business Days after any Selling Person receives Approval B, minus the amount (if any) previously paid to
Wyeth pursuant to Section (a)(i)(A) of this Schedule A; 
 (ii) Subject to Section (b) of this Schedule A, the applicable Earnout
Percentage of the Net Sales Payments, payable within forty-five (45) calendar days after the end of each calendar quarter during the Earnout Period in the United States, where “Net Sales Payments” means Net Sales of Lixivaptan
Products sold in the United States by a Selling Person during such calendar quarter, and “Earnout Percentage” means: 
 (A) if a
Selling Person has received Approval B at any time prior to the relevant calendar quarter; or 
 (B) [####] if no Selling Person has
received Approval B prior to the relevant calendar quarter; 
 (iii) The following payments: 

(A) the First Sales Milestone Payment, payable within forty-five (45) calendar days after the calendar quarter in which the First Sales
Milestone is achieved; 
 (B) the Second Sales Milestone Payment, payable within forty-five (45) calendar days after the calendar
quarter in which the Second Sales Milestone is achieved; 
 (C) the Third Sales Milestone Payment, payable within forty-five
(45) calendar days after the calendar quarter in which the Third Sales Milestone is achieved; and 
 (D) the Fourth Sales Milestone
Payment, payable within forty-five (45) calendar days after the calendar quarter in which the Fourth Sales Milestone is achieved, but only if a Selling Person has received Approval B at any time prior to the calendar quarter in which the Fourth
Sales Milestone is achieved; and 
 (iv) [####] of any Ex-US Payments, payable within ten
(10) Business Days after the Buyer or any of its Affiliates (including the Surviving Corporation) actually receives such Ex-US Payment; provided, however, that 

  
 5 

 (A) with respect to any Ex-US Payments consisting
of royalties paid to Buyer or its Affiliates by the relevant Selling Person measured as a percentage of sales of a Lixivaptan Product in a country outside the United States (“Ex-US Net Sales
Payments”), such Ex-US Net Sales Payments shall equal [####] of such Ex-US Net Sales Payments or: 

(1) [####] of the applicable sales metric (including any reductions or adjustments therein) used in the calculation of royalties in connection
therewith if a Selling Person has received Approval B at any time prior to the applicable calendar quarter; or 
 (2) [####] of the
applicable sales metric (including any reductions or adjustments therein) used in the calculation of royalties in connection therewith if no Selling Person has received Approval B at any time prior to the applicable calendar quarter; 

(B) with respect to Ex-US Net Sales Payments, the sales metric (including any reductions or
adjustments therein) used in the calculation of royalties payable by Buyer hereunder shall be the same as the sales metric (including any reductions or adjustments therein) used in the calculation of royalties payable to Buyer or its Affiliates by
the relevant Selling Person; and 
 (C) such payments (excluding any portion of Ex-US Net Sales
Payments paid by Buyer hereunder) will not exceed [####]; and 
 (v) [####] of any US Payments, payable within ten (10) Business Days
after the Buyer or any of its Affiliates (including the Surviving Corporation) actually receives such US Payment. 
 For the avoidance of doubt, any Sales
Milestone may be satisfied in the same calendar quarter as any other Sales Milestone, and Sales Milestones are measured on a rolling four (4) consecutive calendar quarter basis. 

(b) Generic Competition. Upon the first commercial sale by any Person (other than Buyer, any of Buyer’s Affiliates or any other
Selling Person) of a product which received Regulatory Approval from the FDA of an abbreviated new drug application using a Lixivaptan Product as its reference product, the rate payable pursuant to Section (a)(ii)(A) or Section (a)(ii)(B) of this
Schedule A, as applicable, shall be reduced by fifty percent (50%). 
 (c) [Reserved] 

(d) Reporting. 
 (i) For
each calendar quarter in which a Contingent Payment comes due or with respect to which a Contingent Payment is calculated, the Buyer shall furnish Wyeth with a quarterly report of each Contingent Payment due during such quarter or calculated with
respect to such quarter, and all relevant information required to calculate such Contingent Payment, within thirty (30) days after the end of each calendar quarter; and (2) for each other calendar quarter, the Buyer shall famish the
Indemnification Representative with a written notice that no Contingent Payment is due. Each report pursuant to clause (1) shall include (A) Net Sales, on a
country-by-country basis, during such calendar quarter, (B) Annual Net Sales during each consecutive four 

  
 6 

 
calendar quarter period ending during such calendar quarter, (C) the “gross to net” adjustments with respect to the calculation of Net Sales for such calendar quarter, on a country-by-country basis, (D) if any deduction is made to Net Sales during such calendar quarter pursuant to clause (B) of the definition of Net Sales, an explanation of
how the share of the excise tax deducted pursuant to such clause (B) was allocated to Lixivaptan Product sales, and (E) the amount of each Approval Contingent Payment, Ex-US Payment and US Payment
and the calculation thereof. 
 (e) [Reserved] 

(f) Definitions. For the purposes of this Agreement the following terms shall have the following meanings: 

(i) “Affiliate” shall mean any person who is an “affiliate” of that party within the meaning of Rule 405 promulgated under
the Securities Act of 1933, as amended (the “Securities Act”). 
 (ii) “Annual Net Sales” shall mean the Net Sales of
Lixivaptan Products during any consecutive four calendar quarter period ending prior to the expiration of the Last Measured Earnout Period. 

(iii) “Approval” shall mean any of the following indications for which the FDA grants Marketing Approval for a Lixivaptan Product:

 (A) euvolemic hyponatremia (“Approval A”), or 

(B) euvolemic hyponatremia and hypervolemic hyponatremia, regardless of whether therapy is initiated inside or outside of a hospital
(“Approval B”); 
 where, “euvolemic hyponatremia” means hyponatremia associated with the Syndrome of Inappropriate
Anti-Diuretic Hormone secretion (SIADH), and “hypervolemic hyponatremia” means hyponatremia associated with Congestive Heart Failure (CHF), and Approval B shall be deemed received whether or not other forms of hypervolemic hyponatremia
(including hypervolemic hyponatremia associated with liver cirrhosis or hypervolemic hyponatremia in patients with acutely decompensated heart failure) are contraindicated or the subject of a warning in the label. 

(iv) “Business Day” shall be any day other than (a) a Saturday or Sunday or (b) a day on which banking institutions
located in New York, New York are permitted or required by law, executive order or governmental decree to remain closed. 
 (v)
“Buyer” shall mean Cornerstone Therapeutics Inc., a Delaware corporation. 
 (vi) “Closing Date” means a date to be
specified by the Buyer and the Company, which shall be no later than the second Business Day after satisfaction or waiver of the conditions set forth in Article VII of the Cornerstone Acquisition Agreement (other than delivery of items to be
delivered at the Closing and other than satisfaction of those conditions that by their nature are to be satisfied at the Closing, it being understood that the occurrence of the Closing shall remain subject to the delivery of such items and the
satisfaction or waiver of such conditions at the Closing). 

  
 7 

 (vii) “Company” means Cardiokine, Inc. 

(viii) “Company Intellectual Property” shall mean the Intellectual Property owned by the Company, together with the Intellectual
Property owned by any Subsidiary of the Company. 
 (ix) “Cornerstone Acquisition Agreement” has the meaning set forth in the body
of the Fifth Amendment. 
 (x) “Earnout Period” shall mean, on a
country-by-country basis, the period commencing on the Closing Date and expiring upon the later of: (A) expiration of the last Valid Claim of any Lixivaptan Patent
Right in such country, or (B) the expiration of the market exclusivity period(s) granted by a Regulatory Authority for Lixivaptan Product in such country during which such Regulatory Authority will not grant Regulatory Approval of a product (1)
containing lixivaptan or the active moiety thereof, (2) using a Lixivaptan Product as its reference product, or (3) relying in any other manner on the regulatory data or filings for a Lixivaptan Product. 

(xi) “Effective Time” means the effectiveness of the Merger upon the filing of the Certificate of Merger with the Secretary of State
of the State of Delaware or at such later time as is established by the Buyer and the Company and set forth in the Certificate of Merger. 

(xii) “Europe” shall mean (A) the European Union, as constituted as of the relevant time, or (B) if the European Union is
disbanded, the countries on the continent of Europe. 
 (xiii) “Ex-US Payments” shall mean
any amounts (including Ex-US Net Sales Payments) actually received by the Buyer or any of its Affiliates (including the Surviving Corporation), calculated net of Taxes incurred by the Buyer or any of its
Affiliates (including the Surviving Corporation) in connection with the receipt of such amounts (which Taxes shall be deemed to be incurred at a combined rate of 42% (the “Assumed Tax Rate”)) and without duplication, after the Effective
Time from a Selling Person or its Affiliate (other than the Buyer or its Affiliates) in consideration: (A) for granting a Selling Person a license, sublicense or other similar rights with respect to a Lixivaptan Product (including a license or
sublicense of any Lixivaptan Patent Rights) outside the United States at any time prior to the end of the applicable Earnout Period, (B) for selling, assigning or transferring to a Selling Person any Company Intellectual Property or Third Party
Intellectual Property owned by or licensed to the Company or any of its Subsidiaries as of immediately prior to the Effective Time (including any Lixivaptan Patent Right), outside the United States at any time prior to the end of the applicable
Earnout Period, or (C) for consummating an Ex-US Lixivaptan Product Line Sale at any time prior to the end of the applicable Earnout Period; provided, that, with respect any sale of active ingredient in
bulk, such amounts shall only include the net profit realized by Buyer and its Affiliates with respect to such sale and the Buyer and the Indemnification Representative shall negotiate in good faith upon such a sale to agree upon the calculation
thereof. For the avoidance of doubt, Ex-US Payments exclude the portion of any payments made to Buyer or its Affiliates by a Selling Person in respect of the Buyer’s obligations to make a Sales Milestone
Payment pursuant to this Agreement which portion is required to be paid by Buyer hereunder. 

  
 8 

 (xiv) “Ex-US Lixivaptan Product Line
Sale” shall mean a sale, transfer or assignment to any third party who is not an Affiliate of the Buyer of any material rights relating to any Lixivaptan Product outside the United States (including any applicable Lixivaptan Patent Rights,
Regulatory Approvals or active ingredient in bulk), other than, for the avoidance of doubt, sales of a Lixivaptan Product subject to royalties paid to Buyer or its Affiliates by the relevant Selling Person measured as a percentage of sales. 

(xv) “FDA means the United States Food and Drug Administration. 

(xvi) “First Sales Milestone Payment” shall mean a payment of [####] for the achievement of the First Sales Milestone prior to the
expiration of the Last Measured Earnout Period, where “First Sales Milestone” means the first time that Annual Net Sales of Lixivaptan Products equal or exceed [####]. 

(xvii) “Fourth Sales Milestone Payment” shall mean the payment of [####] for the achievement of the Fourth Sales Milestone prior to
the expiration of the Last Measured Earnout Period, where “Fourth Sales Milestone” means the first time that Annual Net Sales of Lixivaptan Products equal or exceed [####]. 

(xviii) “Governmental Entity” means any court, arbitrational tribunal, administrative agency or commission or other governmental or
regulatory authority, agency or instrumentality. 
 (xix) “Indemnification Representative” means the then- current
“Indemnification Representative” pursuant to the Cornerstone Acquisition Agreement. 
 (xx) “Intellectual Property”
means (i) patents, trademarks, service marks, trade names, domain names, copyrights, designs and trade secrets, (ii) applications for and registrations of such patents, trademarks, service marks, trade names, domain names, copyrights and
designs, (iii) proprietary or confidential processes, formulae, methods, schematics, technology, know-how and computer software programs and applications, (iv) other proprietary or confidential
information, and (v) any and all intellectual property rights and similar proprietary rights in any jurisdiction, including all rights to sue for past, present and future infringement or misappropriation of any of the items in clauses (i),
(ii), (iii) and (iv). 
 (xxi) “Last Measured Earnout Period” shall mean the longest of (a) the Earnout Period in the United
States, (b) the Earnout Period in Europe, and (c) the Earnout Period in any country in which, at the end of the longer of the Earnout Period in the United States and the Earnout Period in Europe, any Lixivaptan Product is then being sold
by a Selling Person. 
 (xxii) “Lixivaptan” means Company’s lixivaptan product candidate. 

  
 9 

 (xxiii) “Lixivaptan Patent Right” shall mean the rights and interests in and to
the patent or patent application owned by or licensed to Company or any of its Subsidiaries as of immediately prior to the Effective Time which claims the composition of matter, use or method of manufacture of any Lixivaptan Product, or any
Counterpart thereof, regardless of whether such patent or patent application, as of the relevant time, is owned by or licensed to Buyer, any of its Affiliates (including the Surviving Corporation) or any Selling Person or Affiliate of a Selling
Person. For purposes of this definition, “Counterpart” shall mean (A) all divisionals, continuations, continuations-in-part of any patent application;
(B) any patents (including certificates of correction) issuing from a patent application; (C) any substitutions, extensions (including supplemental protection certificates), registrations, confirmations, reissues, re-examinations and renewals of any of the patents and patent applications described in clause (A) or (B); and (D) foreign counterparts of any of the foregoing. 

(xxiv) “Lixivaptan Product” shall mean Lixivaptan or any pharmaceutical product containing lixivaptan as an active pharmaceutical
ingredient. 
 (xxv) “Lixivaptan Product Line Buyer” shall mean any Person (other than Buyer and its Affiliates) with whom Buyer
or any of its Affiliates (including the Surviving Corporation), directly or indirectly consummates a US Lixivaptan Product Line Sale or an Ex-US Lixivaptan Product Line Sale, as the case may be. 

(xxvi) “Marketing Approval” shall mean the approval by the FDA of a new drug application for a Lixivaptan Product. 

(xxvii) “Merger” means the acquisition of the Company shall be effected through a merger, pursuant to the Cornerstone Acquisition
Agreement. 
 (xxviii) “Net Sales” shall mean the gross amount invoiced for any sale of a Lixivaptan Product by a Selling Person
to a non-Affiliate of the Selling Person or to an Affiliate of the Selling Person if such Affiliate is not itself a Selling Person, less the sum of the following deductions, in each case to the extent actually
and reasonably allowed or incurred in connection with such sale of such Lixivaptan Product in accordance with GAAP: 
 (A) reasonable and
customary trade, cash and quantity discounts off the invoiced price; 
 (B) all excise, sales and other consumption taxes and custom duties
to the extent included in the invoice price; provided, however, that, with respect to excise tax payments pursuant to Section 9008 of the Patient Protection and Affordable Care Act of 2010, any such deduction shall be limited to the
proportionate share of such excise tax equal to the proportionate share that the aggregate sales of such Lixivaptan Product by such Selling Person during the period to which such excise tax relates bears to the aggregate sales of all products by
such Selling Person subject to such excise tax; 
 (C) freight, insurance and other transportation charges to the extent included in the
invoice price; 
 (D) amounts repaid, credited or accrued, or allowances or adjustments made, by reason of returns, rejections, or recalls,
or because of chargebacks, retroactive price reductions, or billing errors; 

  
 10 

 (E) reasonable and customary launch discounts, stocking fees and other discounts extended
to wholesalers, distributors, chain drug stores and other third party organizations who distribute the Lixivaptan Product to pharmacies; 

(F) reasonable and customary rebates and chargebacks to pharmacy benefit managers, federal, state, or local governments (or their agencies or
purchasers), and managed health organizations (including Medicaid rebates); and 
 (G) any amounts actually written off or specifically
identified as uncollectible in accordance with GAAP; 
 solely to the extent the above deductions are taken in accordance with GAAP applicable to the
particular Selling Person. 
 Such amounts shall be determined from the books and records of the applicable Selling Person, maintained in accordance with
U.S. Generally Accepted Accounting 11 
 Principles or other similar generally accepted accounting principles used by such Selling Person, consistently
applied (“GAAP”). Sales of a Lixivaptan Product between or among the Selling Persons and/or Affiliates of Selling Person for resale, or for use in the production or manufacture of Lixivaptan Product, shall not be included within Net Sales;
provided, however, that any subsequent sale of a Lixivaptan Product by any Selling Person or its Affiliates to another person or entity that is not a Selling Person shall be included within Net Sales. 

Use of Lixivaptan Product for promotional, sampling or compassionate use purposes or for use in clinical trials (but excluding post-approval clinical trials
for which compensation is received by the Selling Person) shall not be considered in determining Net Sales. 
 In the case of any sale of a Lixivaptan
Product for value other than in an arm’s length transaction exclusively for cash, such as barter or counter-trade, Net Sales shall be calculated based on the fair market value of the consideration received; provided that (i) sales to a
third party distributor, wholesaler, group purchasing organization, pharmacy benefit manager or retail chain customer who is a non-Affiliate of a Selling Person and does not need a license or sublicense in
order to resell such Lixivaptan Product shall be considered sales to a non-Affiliate of the Selling Person and not to a sublicensee, and (ii) Net Sales by a Selling Person to a consignee non-Affiliate of the Selling Person are not recognized as Net Sales by such Selling Person until the such consignee sells the Lixivaptan Product. 

With respect to sales of a Lixivaptan Product invoiced in U.S. dollars, Net Sales shall be expressed in U.S. dollars. With respect to sales not invoiced in
U.S. dollars, Net Sales shall be converted to U.S. dollars using the applicable exchange rate as published by The Wall Street Journal, Eastern Edition on the last Business Day of the calendar quarter in which such sales are made. 

(xxix) “Person” shall mean an individual, corporation, partnership, limited liability company, joint venture, association, trust,
unincorporated organization, or other entity. 
 (xxx) “Pricing Approval” means the approval, agreement, determination or
governmental decision establishing the price or level of reimbursement for the relevant pharmaceutical or biological product, if required in the relevant country or jurisdiction prior to sale of such product in such country or jurisdiction 

  
 11 

 (xxxi) “Regulatory Approval” shall mean, with respect to a pharmaceutical or
biological product and a country or jurisdiction, any approval, registration, license or authorization that is required by the applicable governmental agency or authority to market and sell such pharmaceutical or biological product in such country
or jurisdiction, including Pricing Approval. 
 (xxxii) “Regulatory Authority” shall mean any governmental agency or authority
responsible for granting Regulatory Approvals for pharmaceutical or biological products, as applicable, in a country or jurisdiction, including the FDA in the United States. 

(xxxiii) “Sales Milestone” shall mean any of the First Sales Milestone, Second Sales Milestone, Third Sales Milestone or Fourth
Sales Milestone. 
 (xxxiv) “Sales Milestone Payment” shall mean any of the First Sales Milestone Payment, Second Sales Milestone
Payment, Third Sales Milestone Payment or Fourth Sales Milestone Payment. 
 (xxxv) “Second Sales Milestone Payment” shall mean
the payment of [####]for the achievement of the Second Sales Milestone prior to the expiration of the Last Measured Earnout Period, where “Second Sales Milestone” means the first time Annual Net Sales of Lixivaptan Products equal or exceed
[####]. 
 (xxxvi) “Selling Person” shall mean the Buyer, each of its Affiliates (including the Surviving Corporation) and each
(A) licensee, sublicensee, assignee or other grantee of rights from Buyer or any of its Affiliates or another Selling Person to develop, market or sell a Lixivaptan Product, (B) buyer, transferee or assignee of any Company Intellectual
Property or Third Party Intellectual Property (for the sake of clarity to avoid double-counting, other than, in each case, rights granted with respect to any Lixivaptan Patent Right pursuant to clause (A)), from Buyer or its Affiliates (including
the Surviving Corporation) or another Selling Person, (C) a Lixivaptan Product Line Buyer or (D any Affiliate of the foregoing. 

(xxxvii) “Subsidiary” means, with respect to any party, any corporation, partnership, trust, limited liability company or other non-corporate business enterprise in which such party (or another Subsidiary of such party) holds stock or other ownership interests representing (a) more than 50% of the voting power of all outstanding stock
or ownership interests of such entity or (b) the right to receive more than 50% of the net assets of such entity available for distribution to the holders of outstanding stock or ownership interests upon a liquidation or dissolution of such
entity. 
 (xxxviii) “Surviving Corporation” means the Company following the merger pursuant to the Cornerstone Acquisition
Agreement. 
 (xxxix) “Taxes” means all taxes, charges, fees, levies or other similar assessments or liabilities in the nature of
a tax, including income, gross receipts, ad valorem, premium, value-added, excise, real property, personal property, sales, use, services, transfer, withholding, employment, payroll and franchise taxes imposed by any Governmental Entity, and any
interest, fines, penalties, assessments or additions to tax resulting from, attributable to or incurred in connection with any tax or any contest or dispute thereof 

  
 12 

 (xl) “Third Party Intellectual Property” means the Intellectual Property licensed
or sublicensed to the Company or which the Company otherwise possesses legally enforceable rights to use, together with the Intellectual Property licensed or sublicensed to any Subsidiary of the Company or which any Subsidiary of the Company
otherwise possesses legally enforceable rights to use. 
 (xli) “Third Sales Milestone Payment” shall mean the payment of [####]
for the achievement of the Third Sales Milestone prior to the expiration of the Last Measured Earnout Period, where “Third Sales Milestone” means the first time that Annual Net Sales of Lixivaptan Products equal or exceed [####]. 

(xlii) “US” or “United States” means the United States of America, its territories and possessions. 

(xliii) “US Lixivaptan Product Line Sale” shall mean a sale, transfer or assignment to any third party who is not an Affiliate of
the Buyer of any material rights relating to any Lixivaptan Product in the United States (including any applicable Lixivaptan Patent Rights or Regulatory Approvals), other than, for the avoidance of doubt, sales of a Lixivaptan Product subject to
royalties paid to Buyer or its Affiliates by the relevant Selling Person measured as a percentage of sales. 
 (xliv) “US
Payments” shall mean any amounts actually received by the Buyer or any of its Affiliates (including the Surviving Corporation), calculated net of Taxes incurred by the Buyer or any of its Affiliates (including the Surviving Corporation) in
connection with the receipt of such amounts (which Taxes shall be deemed to be incurred at the Assumed Tax Rate) and without duplication, after the Effective Time from a Selling Person or its Affiliate (other than the Buyer or any of its Affiliates)
in consideration: (A) for granting a Selling Person a license, sublicense or similar rights with respect to a Lixivaptan Product (including a license or sublicense of any Lixivaptan Patent Rights) in the United States at any time prior to the
end of the applicable Earnout Period, (B) for selling, assigning or transferring to a Selling Person any Company Intellectual Property or Third Party Intellectual Property owned by or licensed to the Company or any of its Subsidiaries as of
immediately prior to the Effective Time (for the sake of clarity to avoid double-counting, other than, in each case, rights granted with respect to any Lixivaptan Patent Right pursuant to clause (A)) in the United States at any time prior to the end
of the applicable Earnout Period, or (C) for consummating a US Lixivaptan Product Line Sale at any time prior to the end of the applicable Earnout Period. For the avoidance of doubt, US Payments exclude (i) the portion of any payments made
to Buyer or its Affiliates by a Selling Person in respect of the Buyer’s obligation to make an Approval Contingent Payment or a Sales Milestone Payment pursuant to this Agreement which portion is required to be paid by Buyer hereunder, and
(ii) Net Sales Payments. 

  
 13 

 (xlv) “Valid Claim” shall mean (A) a claim of an issued and unexpired patent
which has not been permanently revoked or declared unenforceable or invalid by an unreversed and unappealable or unreversed and unappealed decision of a court or other governmental agency or authority of competent jurisdiction and that is not
admitted to be invalid or unenforceable through reissue, disclaimer or otherwise (i.e., only to the extent the subject matter is disclaimed or is sought to be deleted or amended through reissue), or (B) a claim of a pending patent application,
which claim has not been irretrievably revoked, cancelled, withdrawn or abandoned, or finally disallowed without the possibility of appeal or refiling of such application (or which is not appealed or refilled within the time allowed for appeal);
provided, however, that unless and until a pending patent issues, “Valid Claim” will exclude any such pending claim in an application that has not been granted within five (5) years following the filing date for such application. 

  
 14 

 SIXTH AMENDMENT TO LICENSE AGREEMENT 

THIS SIXTH AMENDMENT TO LICENSE AGREEMENT (“Sixth Amendment”), executed as of the date of signature of the last Party to sign
this Amendment (the “Effective Date”), is entered into between WYETH LLC (formerly known as “Wyeth”), a corporation organized and existing under the laws of the State of Delaware and having a principal place of
business at Five Giralda Farms, Madison, New Jersey 07940, acting through its Wyeth Pharmaceuticals division (“Wyeth”), and CARDIOKINE BIOPHARMA, LLC, a limited liability company organized and existing under the laws of the State of
Delaware and having a principal place of business 1418 Ridgewood Lane, Newtown, Pennsylvania 18940 (assignee of Cardiokine, Inc., a corporation organized and existing under the laws of the State of Delaware) (“Cardiokine”). 

RECITALS 
 WHEREAS,
Wyeth and Cardiokine entered into a License Agreement effective as of March 15, 2004, with respect to a vasopressin compound known as lixivaptan (as amended, the “License Agreement”); 

WHEREAS, Wyeth and Cardiokine entered into a first amendment to the License Agreement effective as of May 3, 2004, a second
amendment to the License Agreement effective as of October 14, 2004, a third amendment to the License Agreement effective as of June 21, 2007, a fourth amendment to the License Agreement effective as of February 6, 2008, and a fifth
amendment to the License Agreement effective as of December 27, 2011; 
 WHEREAS, Cardiokine, Inc., a Delaware corporation and
parent of Cardiokine (the “Company”), was recently acquired by Palladio Acquisition Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Palladio Biosciences, Inc. (“Palladio”), pursuant to a
Stock Purchase Agreement, dated as of July 26, 2016, by and among Chiesi USA, Inc., Palladio Biosciences, Inc. and Palladio (the “Cardiokine Acquisition”; and 

WHEREAS, in furtherance of and in connection with Cardiokine Acquisition, the Parties now desire to further amend the License
Agreement in certain respects. 
 NOW THEREFORE, in consideration of the foregoing and of the mutual promises and covenants
set forth below and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 
  

	1.	 Defined Terms. Except as otherwise set forth herein, all capitalized terms used, but not defined,
in this Sixth Amendment shall have the respective meanings set forth in the License Agreement. 

  

	2.	 Amendment to Cardiokine Notice Provision. Effective as of the Effective Date, the Parties hereby
agree that Section 13.5.I(i) of the License Agreement shall be deleted in its entirety and replaced with the following: 

	 	(i)	 If to Cardiokine: 

Cardiokine, Inc. 
 c/o Palladio
Biosciences, Inc. 
 1418 Ridgewood Lane Newtown, Pennsylvania 18940 

Attention: Lorenzo Pellegrini, Chief Executive Officer 

with a copy to: 
 Morgan,
Lewis & Bockius 
 502 Carnegie Center 

Princeton, New Jersey 08540 

Attn: [####] 
 Fax Number:
[####] 
  

	4.	 Ratification. The License Agreement is hereby ratified as amended by this Sixth Amendment, and,
except as expressly amended by this Sixth Amendment, the provisions of the License Agreement shall remain in full force and effect in accordance with its terms. 

 

	5.	 Counterparts. This Sixth Amendment may be executed in counterparts, each of which shall be deemed
an original and together shall be deemed to be one and the same document. 

 [Remainder of Page Intentionally Left
Blank] 

 IN WITNESS WHEREOF, the undersigned duly authorized representatives of the parties have executed and
delivered this Sixth Amendment To License Agreement. 
  

			
	WYETH, acting through its Wyeth	  	CARDIOKINE BIOPHARMA,
	Pharmaceuticals division	  	LLC
		
	By: /s/ R.J. Smith	  	By: /s/ Lorenzo Pellegrini
	Name: Robert J. Smith	  	Name: Lorenzo Pellegrini
	Title: Senior Vice President	  	Title: Chief Executive Officer
		
	Date: December 1, 2016	  	Date: Nov. 29, 2016EX-10.9

 Exhibit 10.9 

[####] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed. 
 EXECUTION VERSION 

DATED 2016 
 CAMBRIDGE
ENTERPRISE LIMITED (1) 
 (“CE”) 

and 
 APCINTEX LIMITED
(2) 
 (“Licensee”) 
  

 
 EXCLUSIVE
PATENT AND 
 NON-EXCLUSIVE KNOW-HOW 

LICENCE AGREEMENT 
  

 
 Case No:
[####] 
  
  

 

  
 Page 1 of 32 

 EXECUTION VERSION 
  

 Contents 

 

							
	 1.
	 	Definitions and Interpretations	  	 	1	 
	 1.1
	 	Definitions	  	 	1	 
	 1.2
	 	Interpretation	  	 	4	 
	 1.3
	 	Schedules	  	 	4	 
			
	 2.
	 	Grant of rights	  	 	4	 
			
	 2.1
	 	Licences	  	 	4	 
	 2.2
	 	Formal licences	  	 	5	 
	 2.3
	 	Sub-licensing	  	 	5	 
	 2.4
	 	Affiliates	  	 	6	 
	 2.5
	 	Reservation of rights	  	 	6	 
	 2.6
	 	Licensing of Improvements	  	 	7	 
	 2.7
	 	Assignment on Share Sale	  	 	7	 
			
	 3.
	 	Confidentiality	  	 	8	 
			
	 3.1
	 	Provision of Know-how	  	 	8	 
	 3.2
	 	Parties to treat Know-how as	  			
		 	confidential	  	 	8	 
	 3.3
	 	Confidentiality	  	 	8	 
	 3.4
	 	Use of Confidential Information	  	 	9	 
	 3.5
	 	Disclosing Confidential Information	  	 	9	 
	 3.6
	 	Exceptions to confidentiality obligations	  	 	9	 
	 3.7
	 	Return of Confidential Information and survival of confidentiality obligations	  	 	9	 
			
	 4.
	 	Payments	  	 	10	 
			
	 4.1
	 	Initial payment and reimbursement of patent costs	  	 	10	 
	 4.2
	 	Net Sales Value Reporting Calculation	  	 	10	 
	 4.3
	 	Royalties on Licensed Products (including those sold by Sub- Licensees)	  	 	10	 
	 4.4
	 	Royalty Stacking	  	 	10	 
	 4.5
	 	Milestone payments	  	 	10	 
	 4.6
	 	Annual licence fees	  	 	11	 
	 4.7
	 	Equity	  	 	11	 
	 4.8
	 	Payment terms and price index	  	 	12	 
	 4.9
	 	Financial Reports	  	 	12	 
	 4.10
	 	Records	  	 	12	 
			
	 5.
	 	Commercialisation obligations and reports	  	 	13	 
			
	 5.1
	 	Commercialisation	  	 	13	 
	 5.2
	 	Commercialisation Reports	  	 	13	 
	 5.3
	 	Commercial Diligence Disputes	  	 	13	 

							
	 5.4
	 	CE’s right to terminate	  	 	14	 
			
	 6.
	 	Intellectual property	  	 	14	 
			
	 6.1
	 	Patent protection	  	 	14	 
	 6.2
	 	Specified European Jurisdictions	  	 	15	 
	 6.3
	 	Infringement of the Patents	  	 	15	 
	 6.4
	 	Infringement of third party rights	  	 	15	 
			
	 7.
	 	Warranties and liability	  	 	16	 
			
	 7.1
	 	Status of Licensed Technology and responsibility for development of Licensed Products	  	 	16	 
	 7.2
	 	No representations or warranties	  	 	16	 
	 7.3
	 	Liability and indemnity	  	 	17	 
			
	 8.
	 	Duration and termination	  	 	19	 
			
	 8.1
	 	Term	  	 	19	 
	 8.2
	 	Early termination by the Licensee	  	 	19	 
	 8.3
	 	Early termination by CE	  	 	19	 
	 8.4
	 	Early termination by either Party	  	 	19	 
	 8.5
	 	Consequences of termination	  	 	19	 
			
	 9.
	 	Dispute resolution	  	 	20	 
			
	 10.
	 	General	  	 	20	 
			
	 10.1
	 	Force majeure	  	 	20	 
	 10.2
	 	Assignment	  	 	21	 
	 10.3
	 	Waiver	  	 	21	 
	 10.4
	 	Invalid clauses	  	 	21	 
	 10.5
	 	No agency	  	 	21	 
	 10.6
	 	Notices	  	 	21	 
	 10.7
	 	Law and jurisdiction	  	 	22	 
	 10.8
	 	Further action	  	 	22	 
	 10.9
	 	Announcements	  	 	22	 
	 10.10
	 	Entire agreement	  	 	23	 
	 10.11
	 	Third party rights	  	 	23	 
	 10.12
	 	Export Control Regulations	  	 	23	 
	 10.13
	 	Non-use of names and marking of Licensed Products	  	 	23	 
	 10.14
	 	Insurance	  	 	24	 
	 10.15
	 	Legal Compliance	  	 	24	 
		
	 Schedule 1
	  	 	1	 
		
	 Part A : The Patents
	  	 	1	 
	 Part B : Know-how
	  	 	2	 
		
	 Schedule 2
	  	 	3	 
		
	 Part A : Payment and Report Schedule
	  	 	3	 
	 Part B : Financial Report Format
	  	 	4	 

 
 

  
 Page 2 of 32 

 EXECUTION VERSION 
  

			
	THIS AGREEMENT dated	  	2016 is between:

  

	(1)	 CAMBRIDGE ENTERPRISE LIMITED (“CE”), a company incorporated in England and Wales (registered number
1069886) whose registered address is at The Old Schools, Trinity Lane, Cambridge CB2 1TN, UK; 

 and 

 

	(2)	 APCINTEX LIMITED (the “Licensee”), a company incorporated in England and Wales (registered number
9088717) whose registered office is at c/o Medicxi, 25 Great Pulteney Street, London, England W1F 9LT. 

 RECITALS: 

 

	(A)	 CE is a company wholly owned by The Chancellor, Masters and Scholars of the University of Cambridge.

  

	(B)	 The University and CUH inventors specified in Schedule 1 have developed technology relating to the diagnosis,
treatment and monitoring of bleeding disorders, including the Patents and the Know-how, and the inventors, CUH, and the University have assigned to CE all their intellectual property rights in the Patents and
the Inventors have granted a licence to CE in respect of the Know-how. 

  

	(C)	 The Licensee wishes to acquire rights in relation to the technology to enable the development and
commercialisation of Licensed Products in the Field and in the Territory, in accordance with the provisions of this Agreement. 

 IT IS
AGREED as follows: 
  

	1.	 Definitions and Interpretations 

 

	1.1	 Definitions  

In this Agreement, the following words shall have the following meanings: 
  

			
	Affiliate	  	In relation to a Party, means any entity or person which controls, is controlled by, or is under common control with that Party. For the purposes of this definition, “control” shall mean direct or indirect beneficial
ownership of 50% (or, outside a Party’s home territory, such lesser percentage as is the maximum permitted level of foreign investment) or more of the share capital, stock or other participating interest carrying the right to vote or to
distribution of profits of that entity or person, as the case may be.
		
	Agreement	  	this document, including its Schedules
		
	Anniversary	  	An anniversary of the Commencement Date.
		
	Commencement Date	  	The date of this Agreement.
		
	Confidential Information	  	The terms of this Agreement and any information marked confidential obtained directly or indirectly by one Party from the other Party.
		
	Continuation in Part	  	Any continuation-in-part patent application provided
		
		  	(a) it was filed within [####] of the original application;
		
		  	(b) it only names one or more of the Inventors;

 EXECUTION VERSION 
  

			
		
		  	(c) the technology covered was disclosed, claimed in and dominated by the original application; and
		
		  	(d) the technology is not affected by obligations to third parties (for example rights created in a sponsored research or other collaboration agreement between the University and a third party).
		
	CUH	  	Cambridge University Hospitals NHS Foundation Trust.
		
	Field	  	The diagnosis, prognosis and treatment of human disease.
		
	First Commercial Sale	  	means the first commercial sale by a Selling Entity of a Licensed Product in the US, the European Union (as constituted at the date of the first commercial sale) or Japan pursuant to the grant of a Marketing Authorisation
		
	Improvement(s)	  	Any and all improvements, modifications, revisions, new applications and other developments to and of the Licensed Technology arising during the continuation of this Agreement.
		
	Indemnitees	  	CE, CUH, the University, their employees and students, the Inventors and Principal Investigators.
		
	Inventor(s)	  	The inventors named in Schedule 1.
		
	Know-how	  	The invention claimed in the Patents, together with technical information of the Principal Investigator in the Field as listed in Schedule 1 which exists at the Commencement Date and which relates directly to exploitation in the
Field and Territory of the inventions claimed in the Patents.
		
	Licensable Improvement	  	Any Improvement which;
		
		  	 (i)  has been made or generated by or under the supervision (or co-supervision) of any or all of the Principal Investigators;

		
		  	 (ii)   has been disclosed within [####] of the Commencement Date to
CE;

		
		  	 (iii)   is owned and controlled by the University; and

		
		  	 (iv)  has been assigned to CE and that CE is free to licence.

		
	Licensed Product	  	Any product, process or use which the Licensee, its Affiliates or Sub- Licensees sells, supplies or makes available anywhere in the Territory (including to a Sub-Licensee) and which uses or
incorporates or its development makes use of any of the PCI Know-how or technology embodied in the Patents.
		
	Licensed Technology	  	The Patents and the Know-how.
		
	Marketing Authorisation	  	Means in relation to a Licensed Product, those approvals necessary and sufficient from one or more competent authorities for the marketing and sale of such Licensed Product.
		
	Milestone	  	An event specified in Clause 4.5 where the achievement of the event is in any way dependent upon or deploys or validates any of the PCI Know-how or technology embodied in the
Patents.

  
 Page 2 of 32 

 EXECUTION VERSION 
  

			
		
	Net Sales Value	  	 (a)    the price of Licensed Products invoiced by the Licensee or a Sub-Licensee in arm’s length transactions to independent third parties exclusively for money or;

		
		  	 (b)    the price that would have been invoiced if it had been such a
transaction

		
		  	 and  in both cases without deduction of any commission paid to a third party but less
the following permitted deductions:

		
		  	 (i)  arm’s length trade discounts or credits given for example to wholesalers,
buying groups, healthcare companies etc; amounts repaid or credited by reason of rejection, defects or return of Licensed Products; amounts written off for bad debts; and

		
		  	 (ii)   provided the amounts are separately charged on the relevant invoice, any
costs of packaging, insurance, carriage delivery and freight, any value added tax or other sales tax, and any import duties or similar applicable government levies.

		
		  	Save that for the purposes of determining Net Sales Value, a sale shall not include free of charge transfers or disposal of Licensed Products for charitable, promotional, testing, clinical trialling, qualification, approval,
regulatory or similar purposes.
		
		  	Notwithstanding the foregoing, “Net Sales Value” shall not include:
		
		  	 (a)    any payment received by a Selling Entity for the sale or supply of
any Licensed Product between a Selling Entity and another Selling Entity;

		
		  	 (b)    any sums for any products, services or processes that are not
Licensed Products.

		
	Parties	  	CE and the Licensee, and “Party” shall mean either of them.
		
	Patents	  	The patent (or, where more than one, all the patents) and the content of the patent application (or, where more than one, all the applications) referred to in Schedule 1 together with any patents granted pursuant to such application
or applications and any continuations, Continuations in Part, extensions, reissues, divisions, divisional applications and supplementary protection certificates which derive priority from such application or applications.
		
	Payment Period	  	The payment periods specified in Schedule 2.
		
	PCI Know-how	  	That part of the Know-how and Materials listed in Schedule 1B held solely by the Inventors and the University that is specific to modified serpins for the treatment of bleeding
disorders.
		
	Planned Sales	  	Projected annual sales for Licensed Products.
		
	Principal Investigators	  	[####]
		
	Royalty	  	The royalty specified in Clause 4.3.

  
 Page 3 of 32 

 EXECUTION VERSION 
  

			
		
	Royalty Term	  	Means, on a country-by-country basis, the period commencing on the date of the First Commercial Sale in such country and ending on the date of expiry of
the last Valid Claim in the relevant country.
		
	Selling Entity	  	The Licensee or any Sub-Licensee
		
	Sub-Licensee	  	Any third party granted a sub-licence of the rights in Clause 2.1 by the Licensee whether directly by the Licensee or through multiple levels of sub-licensing.
		
	Term	  	The period specified in Clause 8.1.
		
	Territory	  	Worldwide.
		
	University	  	The Chancellor, Masters and Scholars of the University of Cambridge.
		
	Valid Claim	  	Any claim as at the relevant date (such as for example only the date of a sale potentially triggering a Royalty) of an issued and unexpired patent or any pending claim in a pending patent application within the Patent that:
(a) has not been permanently held unenforceable or invalid by a court or other governmental agency of competent jurisdiction in a decision that is not appealed or cannot be appealed, (b) that has not been disclaimed or admitted to be invalid or
unenforceable through reissue or otherwise; or (c) is deemed to be a Valid Claim pursuant to Clause 6.2.

  

	1.2	 Interpretation  

In this Agreement (except where the context otherwise requires): 
  

	 	(a)	 any reference to a clause or schedule is to the relevant clause of or schedule to this Agreement and any
reference to a sub-clause or paragraph is to the relevant sub-clause or paragraph of the clause or schedule in which it appears; 

 

	 	(b)	 the clause headings are included for convenience only and shall not affect the interpretation of this
Agreement; 

  

	 	(c)	 any reference to “person” or “persons” includes natural persons, firms, partnerships,
companies, corporations, associations, organisations, governments, states, foundations and trusts (in each case whether or not having separate legal personality); 

 

	 	(d)	 the singular includes the plural and vice versa; and 

 

	 	(e)	 words preceding “include”, “includes”, “including” and “included” shall
be construed without limitation by the words which follow those words. 

  

	1.3	 Schedules  

The schedules form part of this Agreement. If a provision of a schedule is inconsistent with a provision of this Agreement, the latter
prevails. 
  

	2.	 Grant of rights 

 

	2.1	 Licences  

In consideration of the payments specified in clause 4 CE hereby grants to the Licensee and its Affiliates subject to the provisions of this
Agreement: 

  
 Page 4 of 32 

 EXECUTION VERSION 
  

	 	(a)	 an exclusive licence under the Patents (with the right to sub-license,
subject to Clause 2.3 below) to develop, manufacture, have manufactured, sell, supply and make available Licensed Products under this Agreement only in the Field in the Territory; and 

 

	 	(b)	 an exclusive licence to use the PCI Know-how (with the right to sub-license, subject to Clause 2.3 below), to use, develop, manufacture, have manufactured, sell, supply and make available Licensed Products under this Agreement only in the Field in the Territory; and

  

	 	(c)	 a non-exclusive licence to use any
Know-how that is not PCI Know-how (with the right to sub-license, subject to Clause 2.3 below), to use, develop, manufacture,
have manufactured, sell, supply and make available Licensed Products under this Agreement only in the Field in the Territory. 

  

	2.2	 Formal licences  

The Parties shall execute such formal licences as may be necessary or appropriate for registration with Patent Offices and other relevant
authorities in particular territories. In the event of any conflict in meaning between any such licence and the provisions of this Agreement, the provisions of this Agreement shall prevail. Prior to the execution of formal licences (if any) referred
to in this clause, the Parties shall as far as possible have the same rights and obligations towards one another as if such licences had been granted. The Parties shall use reasonable endeavours to ensure that, to the extent permitted by relevant
authorities, this Agreement shall not form part of any public record. 
  

	2.3	 Sub-licensing  

The Licensee shall be entitled to grant sub-licences of its rights under this Agreement (and to permit multiple levels of sub-licensing by Sub-Licensees), provided that: 
  

	 	(a)	 each sub-licence shall 

 

	 	(I)	 include terms which are equivalent in all material respects to the obligations and limitations imposed on the
Licensee under this Agreement (including insurance obligations, the limitation of the Indemnitees’ liability and an indemnity to the Indemnitees) 

  

	 	(II)	 not exclude the Contracts (Rights of Third Parties) Act 1999 in respect of any of the Indemnitees;

  

	 	(b)	 each sub-licence shall terminate automatically on the termination of this Agreement for any reason subject to
the right for Licensee to require CE to agree that if the Agreement terminates for any reason whatsoever and: 

  

	 	(I)	 where there is only one Sub-Licensee then CE shall immediately upon
termination grant to the Sub-Licensee a new licence on terms identical to the terms of this Agreement; and 

  

	 	(II)	 where there is more than one Sub-Licensee, then CE shall offer to grant
to the Sub-Licensees a new direct licence on terms identical to each Sub-Licensee’s sub-licence, provided however that the new licence shall: 

 

	 	I)	 grant rights in relation to the Licensed Technology only; 

 

	 	II)	 provide for CE to be entitled to take over the prosecution, maintenance and enforcement of the patents
comprised in the Licensed Technology (unless agreed otherwise with the Sub-Licensees) and for the related costs of CE to be borne equally by the Sub-Licensee(s);

  
 Page 5 of 32 

 EXECUTION VERSION 
  

	 	III)	 not impose any obligation on CE that is not included in this Agreement and 

 

	 	IV)	 have the same financial terms as those in this Agreement, 

(each of (I) and (II) being referred to as the “Step-in Right”, as appropriate).

 The Step-in Right shall not arise if this Agreement terminates (a) by effluxion of time, due
to a breach of the sublicense by the Sub-Licensee causing Licensee to be in breach of this Agreement, such that CE exercises its right of termination of this Agreement (except where there is more than one Sub-Licensee, in which case the non-breaching Sub-Licensee(s) shall be offered a new direct licence in accordance with clause
(II) above); 
  

	 	(c)	 within [####] of the grant of any sub-licence the Licensee shall provide to CE a true copy of it
redacted, to the extent required by any Sub-licensee, in respect of any financial provisions, and without limiting the Licensee’s obligations under Clauses 4.9 and 4.10; 

 

	 	(d)	 the Licensee shall be responsible for Sub-Licensees’ conduct and
any breach of a sub-licence as if it had been a breach by the Licensee under this Agreement and the Licensee shall indemnify CE against any loss, damages, costs, claims or expenses which are awarded against or suffered by CE as a result; and

  

	 	(e)	 for the avoidance of doubt, all Sub-Licensees shall be treated as sub-licensees of the Licensee for the purposes of this Agreement, whether the rights are granted directly by the Licensee or by any Sub-Licensee. 

 

	2.4	 Affiliates  

The Licensee shall be responsible for its Affiliates’ conduct in connection with the rights licensed under this Agreement. Any act or
omission of an Affiliate pursuant to the terms of this Agreement shall be deemed to be an act or omission of the Licensee and the Licensee shall indemnify CE against any loss, damages, costs, claims or expenses which are awarded against or suffered
by CE as a result of any such act or omission of an Affiliate. 
  

	2.5	 Reservation of rights  

 

	 	(a)	 There is reserved for the University, CUH and the Inventors an irrevocable, world-wide, royalty-free, right to
use the Patents and PCI Know-how in the Field for 

  

	 	(I)	 publication and teaching; 

 

	 	(II)	 academic research; 

  

	 	(III)	 as background intellectual property for any academic research project; and 

 

	 	(IV)	 clinical patient care; 

For the avoidance of doubt no licence is granted to or reserved by this Clause 2.5(a) for any commercial use or exploitation of the Patent or
the PCI Know-how. 
  

	 	(b)	 For the avoidance of doubt, academic research includes use of the Patents and PCI Know-how in the Field 

  

	 	(I)	 for research into clinical patient care; 

 

	 	(II)	 to investigate, develop and provide materials for research purposes; and ° 

  
 Page 6 of 32 

 EXECUTION VERSION 
  

	 	(III)	 as background intellectual property for any research pursuant to EC or other government, public or charitable
research funding, and applications for the same. 

  

	 	(c)	 Except for the rights expressly set out in this Agreement, no licence is granted in respect of the Licensed
Technology or any other technology or patents of CE regardless of whether such technology or patents are dominant or subordinate to the Licensed Technology and all rights, title and interest in and to the Licensed Technology throughout the world now
or hereafter are and shall remain the exclusive property of CE. 

  

	2.6	 Licensing of Improvements  

 

	 	(a)	 Subject to the provisions of this Agreement, CE shall forthwith upon its creation give Licensee a written
notice describing the Licensable Improvement and shall grant the Licensee (if the Licensee so requests) a licence in respect of the Licensable Improvements with the right to sub-license, subject to Clause 2.3,
to use, develop, manufacture, have manufactured, sell, supply and make available Licensed Products only in the Field in the Territory. 

  

	 	(b)	 Any licence to a Licensable Improvement under this clause shall; 

 

	 	(I)	 be exclusive with respect to any patents or patent applications or Improvements to those materials that form
part of the PCI Know-how and non-exclusive with respect to any other Know-how; 

 

	 	(II)	 require that the Licensable Improvement be considered Licensed Technology under this Agreement, and subject to
the obligations set out in clause 3.2 with respect to any Improvements to PCI Know-how and Know-how; 

 

	 	(III)	 establish the responsibility of the Licensee for determining the scope and nature of any patent or other
protection, such protection to be obtained at the Licensee’s cost; and 

  

	 	(IV)	 be effective automatically on the written acknowledgement by the Licensee to CE of a notice describing the
Licensable Improvement from CE. 

  

	 	(c)	 CE has procured written agreement from the Principal Investigators: (i) that they shall notify Licensee of
their plans to conduct or supervise any research that may lead to the development of a Licensable Improvement; and (ii) that they shall also take appropriate steps and have in place appropriate written agreements to ensure that CE shall have
any and all rights (including of ownership or control of such rights passing to the University and assigned to CE) required to license said Licensable Improvements to Licensee under this Agreement. 

 

	2.7	 Assignment on Share Sale  

Without prejudice to the Licensee’s rights under Clause 10.2, the Parties accept that the Licensee and its assets may be acquired in whole
or part by a third party (such as a pharmaceutical company) (a “Relevant Transaction”) and in such circumstances the Parties accept that such acquirer may require an assignment of the Patents and an exclusive, perpetual, irrevocable
licence of the PCI Know-How and a non-exclusive License to the Know-how that is not PCI
Know-how in a defined field of use as a condition of the Relevant Transaction. Accordingly, if the Relevant Transaction is contemplated the Parties shall use reasonable endeavours to negotiate in good faith to
determine the terms under which CE could agree to the Assignment to such third party. The Parties agree to act without delay in such negotiations with a view to agreeing the terms of the Assignment prior to the proposed date of completion of the
Relevant Transaction. For the avoidance of doubt, the Parties recognise that the obligation of CE to conduct these negotiations under this Clause 2.7 in good faith does not extend to an obligation on CE to enter into any Assignment. 

  
 Page 7 of 32 

 EXECUTION VERSION 
  

	3.	 Confidentiality 

 

	3.1	 Provision of Know-how  

Upon the Licensee’s request, CE shall: 
  

	 	(a)	 arrange for and the Principal Investigators to supply the Licensee with all
Know-how in their possession and that has not previously been disclosed to the Licensee and which is reasonably necessary or desirable to enable the Licensee to exercise its rights under Clause 2.1. The method
of such supply shall be agreed between the Principal Investigators and the Licensee and (in respect of the Inventors) shall fall under consultancy agreements to be entered into between the Inventors and the Licensee; 

 

	 	(b)	 deliver up to Licensee copies (in hard copy or electronic format) of relevant documents, material or other
information related to the filing, prosecution and maintenance of the Patent including all files (including all correspondence with and advice from internal or external patent attorney’s related to the aforementioned and the filing strategy to
be adopted); and 

  

	 	(c)	 transfer all the Materials forming part of the PCI Know-how in its
possession or control relating to the Licensed Technology, control of such Materials shall pass to Licensee upon the Commencement Date. 

  

	3.2	 Parties to treat Know-how as confidential 

 The Licensee receives the Know-how as Confidential Information, whether or not
marked confidential. The Licensee shall not use the Know-how for any purpose except as expressly licensed hereby and in accordance with the provisions of this Agreement. The Licensee shall observe the
provisions of Clauses 3.4, 3.7 and 8.5(a)(IV) in relation to the Know-how. 
  

	3.3	 Confidentiality  

The Parties agree that; 
  

	 	(a)	 PCI Know-how may not be disclosed by either Party (irrespective of
which Party is the discloser) except as expressly provided for Clause 3.3(d); 

  

	 	(b)	 no Confidential Information of the Disclosing Party may be used by the Recipient Party for any purpose other
than the performance of the Recipient Party’s obligations or the exercise of the Recipient Party’s rights under this Agreement; 

  

	 	(c)	 no other Confidential Information disclosed by one Party (“Disclosing Party”) to the other
Party (“Recipient Party”) under this Agreement may be disclosed by the Recipient Party to any person; and 

  

	 	(d)	 Clauses 3.3(a), 3.3(b) and 3.3(c) shall not apply to Confidential Information disclosed; 

 

	 	(I)	 to employees, officers, directors, auditors of the Recipient Party or the University or CUH requiring the
Confidential Information for the purposes of this Agreement; 

  

	 	(II)	 with the prior written consent of the Disclosing Party which consent may be given or withheld in its absolute
discretion; 

  

	 	(III)	 to actual or potential customers or sub-licensees for Licensed Products
in so far as such disclosure is necessary to promote the sale or use of Licensed Products; 

  
 Page 8 of 32 

 EXECUTION VERSION 
  

	 	(IV)	 if the Recipient Party is advised it is required to do so by law (including the Freedom of Information Act 2000
or Environmental Information Regulations) or stock exchange; or 

  

	 	(V)	 if the Recipient Party is required to do so in connection with legal proceedings relating to this Agreement.

  

	3.4	 Use of Confidential Information  

No Confidential Information of the Disclosing Party may be used by the Recipient Party for any purpose other than the performance of the
Recipient Party’s obligations or the exercise of the Recipient Party’s rights under this Agreement. 
  

	3.5	 Disclosing Confidential Information  

Any Party disclosing Confidential Information under Clause 3.3(d)(1), 3.3(d)(ll) or 3.3(d)(lII) must use all reasonable endeavours to ensure
that persons receiving Confidential Information from it; 
  

	 	(a)	 do not disclose or use the Confidential Information except in the circumstances permitted in Clauses 3.3(d) or
3.4; and 

  

	 	(b)	 sign a written confidentiality undertaking on terms as least as restrictive as that binding the Recipient
Party. 

  

	3.6	 Exceptions to confidentiality obligations  

 

	 	(a)	 Clauses 3.2, 3.3 and 3.4 do not apply to Confidential Information which: 

 

	 	(I)	 is in or becomes part of the public domain other than through breach of this Agreement or an obligation of
confidence owed to the Disclosing Party; 

  

	 	(II)	 the Recipient Party can prove by contemporaneous written documentation was already known to it at the time of
disclosure by the Disclosing Party (unless that knowledge arose from disclosure of information in breach of an obligation of confidence). 

  

	 	(b)	 For the avoidance of doubt the Licensee acknowledges that: 

 

	 	(I)	 CE is required to inform the Inventors, CUH and any others entitled to a share in CE receipts under this
Agreement (including persons other than CE employees) of the basis of CE’s calculation of the share due; and 

  

	 	(II)	 for the purpose of academic publication any Inventors and any others who contributed to the creation or
development of the Licensed Technology may have to declare to the publisher and in publications that the Licensee is licensed in respect of the Licensed Technology and that income from exploitation of the Licensed Technology has or may be received.

 If a disclosure described in this Clause 3.6(b)(1) or 3.6(b)(ll) is required to include Confidential Information, CE
and the academic disclosing will be deemed to have permission to make such disclosure. 
  

	3.7	 Return of Confidential Information and survival of confidentiality obligations  

 

	 	(a)	 The Recipient Party must return promptly to the Disclosing Party if so requested all documents or other
materials containing or referring to Confidential Information which are in the Recipient Party’s possession, power or control or in the possession, power or control of persons who have received Confidential Information from the Recipient Party
under Clause 3.3(d)(1), 3.3(d)(ll) or 3.3(d)(l 11). This Clause 3.7(a) shall not apply to Know-how unless termination occurs in accordance with Clauses 8.2, 8.3 or 8.4. 

  
 Page 9 of 32 

 EXECUTION VERSION 
  

	 	(b)	 The provisions of Clauses 3.2 to 3.7 inclusive will survive the expiry or earlier termination (for whatever
reason) of this Agreement for a period of five years. 

  

	4.	 Payments 

  

	4.1	 Initial payment and reimbursement of patent costs  

The Licensee shall pay to CE 
  

	 	(a)	 the non-refundable,
non-deductible sum of [####]; and 

  

	 	(b)	 the sum of [####] in reimbursement of external receipted costs in connection with obtaining patent
protection prior to the Commencement Date. 

  

	4.2	 Net Sales Value Reporting Calculation  

The Licensee must report to CE in good faith all disposals of Licensed Products, including by its Affiliates or
Sub-Licensees and report clearly where indirect or non-monetary consideration is accepted for any Licensed Product. This applies to all activity of the Licensee and its
Affiliates or Sub-Licensees and includes transactions with any party associated with the Licensee or its Affiliates or Sub-Licensees or any Licensee business partner or
(as defined in the Companies Act 2006) any subsidiary or holding company of the Licensee or its Affiliates or Sub-Licensees or subsidiary of any such holding company. 

 

	4.3	 Royalties on Licensed Products (including those sold by
Sub-Licensees)  

 The Licensee shall pay CE a royalty on each Licensed Product
that, other than for the licences granted under Clause 2.1 of this Agreement, would infringe a Valid Claim in the jurisdiction or country where the sale triggering the Royalty payment took place at the following rates: 

 

	 	(a)	 [####]; and 

  

	 	(b)	 [####]. 

[####]. 
  

	4.4	 Royalty Stacking  

If during the Term, in order to avoid infringing any third party’s patent(s) by the use, development, manufacture, supply, sale or making
available of Licensed Products, the Licensee considers it necessary to obtain a licence of the dominating patent from any third party (“Third Party Licence(s)”) [####]. 

For the avoidance of doubt this provision only applies to licences the Licensee considers necessary to enable use of the Licensed Products. It
does not apply to other licences or permissions which the Licensee believes may be merely desirable to develop, produce, market or sell finished Licensed Products. Furthermore, this provision does not apply to patents developed by Licensee and
subsequently assigned or licensed to third parties. 
  

	4.5	 Milestone payments  

The Licensee shall pay CE the milestone payment(s) set out in the table below in respect of each Licensed Product when the relevant Milestone
is achieved, whether it is achieved by the Licensee, an Affiliate or a Sub-Licensee. 

  
 Page 10 of 32 

 EXECUTION VERSION 
  

					
	 Milestone
	  	Payment	 
	 [####]
	  	 	[	####] 
	 [####]
	  	 	[	####] 

 The Parties agree that, for the avoidance of doubt, each milestone payment shall be payable only once per
Licensed Product, regardless of the number of separate indications, line extensions and the like for which a Licensed Product is developed in a phase 3 clinical trial or is granted a market approval [####]. 

 

	4.6	 Annual licence fees  

The Licensee shall pay to CE the following annual licence fees: 
  

					
	 On the Anniversary in
	  	Payment	 
	 [####]
	  	 	[	####] 
	 [####]
	  	 	[	####] 

 If the annual licence fee is not paid, CE may in its absolute discretion treat
non-payment of any material sum as a material breach of contract. 
  

	4.7	 Equity  

  

	 	(a)	 On or before the Commencement Date the Licensee shall issue and shall deliver to CE evidence of ownership of a
total of [####] its ordinary shares (the “Shares”) in the name of CE and CE shall pay the par value for the Shares (£[####] for [####] ordinary shares at [####] per share). Clause 2.1 (the grant of the
Licence) shall not become effective until CE has received both the evidence of the ownership of the Shares and also payment of the sums specified under clause 4.1. 

 

	 	(b)	 The Licensee undertakes to CE that, at the Commencement Date, the aggregate number of the Shares will be not
less than [####] of Licensee’s issued share capital calculated on a “Fully Diluted Basis”. For purposes of this clause “Fully Diluted Basis” shall mean that the total number of issued shares shall be calculated to
include conversion of all securities which are convertible into ordinary shares, the issue of shares to be allocated to the Inventors, the exercise of all then outstanding options and warrants to purchase shares (including the options to be granted
to the Inventors), whether or not then exercisable, and shall assume the issuance or grant of all shares reserved for issuance pursuant to any company share option plan in effect on the date of the calculation. 

 

	 	(c)	 The Licensee shall provide promptly such information as CE may reasonably request from time to time to enable
CE to assess and monitor the development of the Licensee company (and any subsidiaries) and the value of CE’s shareholding. This is likely to include an annual request of the following information for the [####] prior to the request:

  

	 	(I)	 the most recently audited company accounts (and where they are more than [####] old the most recent
management accounts also); 

  

	 	(II)	 shares, securities and options issued to University or CUH employees; and 

 

	 	(III)	 where CE shareholding is [####] or more of the issued share capital on a Fully Diluted Basis the most
recent version of the share capitalisation table, including the impact of options for management and funders. 

  
 Page 11 of 32 

 EXECUTION VERSION 
  

	4.8	 Payment terms and price index  

 

	 	(a)	 Payments shall be made in accordance with Schedule 2 Part A. 

 

	 	(b)	 The Licensee shall be responsible for collecting and paying to CE all payments due to CE in respect of sub-licensing or exercise of rights by Affiliates, including Royalties. 

  

	 	(c)	 All consideration and any other monies due under this Agreement are exclusive of Value Added Tax which where
applicable shall be paid by the Licensee to CE. All payments shall: 

  

	 	(I)	 be made in pounds sterling by telegraphic transfer to the account of [####]; 

 

	 	(II)	 in the event of a change in the national currency of the United Kingdom, be converted from pounds sterling into
the new national currency of the United Kingdom at the buying rate of such new currency as quoted by Barclays Bank plc in London on the day when such currency change comes into force; 

 

	 	(III)	 in the case of monies received by the Licensee from sales or
sub-licensing in a currency other than pounds sterling, be calculated in the other currency and then converted into the national currency of the United Kingdom at the buying rate of such other currency as
quoted by Barclays Bank plc in London as at the close of business on the last business day of the Payment Period with respect to which the payment is made; 

  

	 	(IV)	 be made by the due date, failing which CE may charge reasonable debt recovery costs together with interest on
any outstanding amount on a daily basis, compounded quarterly, from the day after the due date until payment at the statutory rate in force on the due date under the Late Payment of Commercial Debts (Interest) Act 1998; and 

 

	 	(V)	 be made in full without deduction of taxes, charges or duties, including bank charges or income tax.

  

	4.9	 Financial Reports  

 

	 	(a)	 Financial Reports (including nil reports) are required as set out in Schedule 2 when the first sale of a
Licensed Product occurs, annually beforehand, and when a payment is made. 

  

	 	(b)	 Each payment shall be accompanied by a financial report in the form set out in Schedule 2 Part B. Such reports
shall include details of payments due in respect of sub-licensing. 

  

	 	(c)	 The Licensee shall report to CE the date of first sale of a Licensed Product within [####] of its
occurrence and (in accordance with Clause 4.2) all disposals of Licensed Product thereafter. The Licensee shall also provide on requests such statistics as CE may reasonably require in relation to the disposal of Licensed Products over the whole or
any part of the Term. 

  

	4.10	 Records  

  

	 	(a)	 The Licensee shall keep at its normal place of business and cause
Sub-Licensees and its Affiliates similarly to keep all information used to calculate payments due to CE under this Agreement including detailed and up to date records and accounts showing the quantity,
description and value of Licensed Products sold by it, Sub-Licensees and its Affiliates, and the amount of Other Income received by it, on a country by country basis. The Licensee shall keep these records
separate or otherwise make them extractable easily from its other business records and shall not dispose of them until after the [####] of their creation. 

  
 Page 12 of 32 

 EXECUTION VERSION 
  

	 	(b)	 The Licensee shall make such information available, on reasonable notice, for audit during business hours by
CE’s duly authorised representative for the purpose of verifying the accuracy of any report given by the Licensee to CE under this clause 4. The representative shall be required to keep confidential all information learnt during any such
inspection, and to disclose to CE only such details as may be necessary to report on the accuracy of the Licensee’s financial reports. CE shall be responsible for the representative’s professional charges unless the representative
certifies that there is an inaccuracy of more than [####] in any financial statement, in which case the Licensee shall pay the charges in respect of that inspection. The Licensee shall pay any underpayment reported by the representative
within [####] of receipt of a CE’s invoice requiring payment for the same. 

  

	 	(c)	 The Licensee shall ensure that CE has the same rights as those set out in this Clause 4.10 in any sub-licence
of any of the Licensed Technology granted pursuant to this Agreement. 

  

	5.	 Commercialisation obligations and reports 

 

	5.1	 Commercialisation  

The Licensee shall use commercially reasonable endeavours to develop and commercially exploit the Licensed Technology. 

 

	5.2	 Commercialisation Reports  

Without prejudice to the generality of the Licensee’s obligations under Clause 5.1, the Licensee shall send CE within [####] of
each Anniversary an updated, written commercialisation report (which constitutes Licensee Confidential Information), covering as a minimum the [####] preceding the Anniversary and the [####] following it. The report shall include: 

 

	 	(a)	 the projected and actual dates of first sale of a Licensed Product; (b) Planned Sales during the period
covered by the report; (c) Milestone progression; 

  

	 	(d)	 a summary of activities taken by the Licensee in the last [####], and to be taken in the next
[####], to develop and commercially exploit the Licensed Technology ; 

  

	 	(e)	 sub-licences granted and rights granted to Affiliates during the period covered by the report;

  

	 	(f)	 any other income invoiced or received during the period covered by the report; 

 

	 	(g)	 the commercial and public benefit which the Licensee believes that the Licensed Technology has created or
stimulated; and 

  

	 	(h)	 certification of insurance cover maintained (types and levels). 

CE’s receipt or approval of any such report shall not be taken to waive or qualify the Licensee’s obligations under Clause 5.1. 

 

	5.3	 Commercial Diligence Disputes  

 

	 	(a)	 If CE considers at any time during the Term that the Licensee has not fulfilled its obligations pursuant to
Clause 5.1 or 5.2 CE may issue notice to the Licensee to that effect. 

  
 Page 13 of 32 

 EXECUTION VERSION 
  

	 	(b)	 Within in [####] of receipt of such a notice the Licensee shall provide CE with evidence that the
Licensee complied with its obligations pursuant to Clause 5.1 or 5.2. 

  

	 	(c)	 If the evidence provided by the Licensee to CE does not satisfy CE that the obligations in Clause 5.1 or 5.2
have been met, the Parties shall then engage in good faith negotiations to determine whether there has been a breach of Clause 5.1 or 5.2 and if so what specific action the Licensee should now take (“Specific Action”) in order to
address CE’s concerns and secure compliance. The Licensee shall take any agreed Specific Action within [####] of agreement. 

  

	 	(d)	 If the negotiations fail to reach agreement within [####] or if the Licensee has not initiated an agreed
Specific Action within [####] of agreement, then CE may initiate a formal mediation as set out in Clause 9 (Dispute Resolution). 

  

	 	(e)	 In the event that [####] after the conclusion of the Mediation process period CE does not accept that
the Licensee has complied with Clause 5.1 and/or 5.2 or that the Licensee has taken an agreed Specific Action within [####], then the dispute may be resolved by a court of a competent jurisdiction in accordance with Clause 9 and Clause 10.7.

  

	5.4	 CE’s right to terminate  

If a court of competent jurisdiction (in a decision that has not been appealed or cannot be appealed) determines that the Licensee has failed
to comply with its obligations under Clause 5.1 or 5.2 or failed to take an agreed Specific Action within [####] of agreement that it should be taken, CE shall be entitled, by giving not less than [####] written notice to terminate
this Agreement and the licences granted to the Licensee under Clause 2. Termination in accordance with this Clause 5.4 shall be CE’s sole remedy in respect of the Licensee’s breach of this Clause 5. 

 

	6.	 Intellectual property 

 

	6.1	 Patent protection  

 

	 	(a)	 The Licensee shall at its own cost and expense: 

 

	 	(I)	 endeavour, in its sole and reasonable discretion but always subject to the Licensee’s obligations under
Clause 5.1, to obtain valid patents in the name of CE pursuant to each patent application listed in Schedule 1 so as to secure the broadest monopoly reasonably available including the filing of divisional applications where appropriate including in
the jurisdictions set out in Schedule 1; and 

  

	 	(II)	 pay all renewal fees in respect of the Patents as and when due; and 

 

	 	(III)	 ensure that CE receives copies of all correspondence concerning each patent application listed in Schedule 1,

 provided that if the Licensee wishes to abandon any such application or not to maintain any patent in the whole of any
part of the Territory (or to cease funding such application or patent) it shall give at least [####] prior written notice to CE, specifying the parts of the Territory affected. At any time after the expiry of such notice period CE may notify
the Licensee that it is no longer licensed under the relevant patent or patent application for the whole or part of the Territory identified in the notice. 
  

	 	(b)	 CE shall grant the Licensee and its agents such powers of attorney and other permissions as the Licensee may
reasonably require in order to carry out the filing, prosecution and maintenance of patents and patent applications pursuant to this Clause 6.1. The Licensee shall not be responsible for any acts or omissions relating to the filing, prosecution or
maintenance of the Patents prior to the Commencement Date. 

  
 Page 14 of 32 

 EXECUTION VERSION 
  

	6.2	 Specified European Jurisdictions  

In so far as a Patent at the Commencement Date is a European patent and the Licensee elects not to validate the European patent in a
contracting state designated by the Licensor prior to the Commencement Date then any Valid Claim of the said European patent shall be deemed to be a Valid Claim in the state(s) where it has not been validated by the Licensee. Licensed Products sold
in the state(s) where the said European patent has not been so validated shall therefore incur Royalties due under Clause 4.3 of this Agreement. 
  

	6.3	 Infringement of the Patents  

 

	 	(a)	 Each Party shall inform the other Party promptly if it becomes aware of any infringement or potential
infringement of any of the Patents in the Field. 

  

	 	(b)	 Subject to Clause 6.3(c), the Licensee shall be entitled to take legal or other action against any third party
to enforce the Patents at its sole expense. If the alleged infringement is both within and outside the Field, the Parties shall also co-operate with CE’s other licensees (if any) in relation to any such
action. 

 If required by law CE shall agree to be joined in any such legal action (and may elect to take part in the
proceedings) subject to being indemnified and secured in a reasonable manner as to any costs, damages, expenses or other liability. CE shall have the right to be separately represented in any legal action by its own counsel at its own expense. 

 

	 	(c)	 Before starting legal action in accordance with Clause 6.3(b) or agreeing to any settlement, the Licensee shall
consult CE and take its views into account about the advisability of the action or settlement, its effect on the University and CE’s reputation and good name, the effect on any other CE licensees of any of the Licensed Technology, the public
interest and how the action should be conducted. Any monetary recovery from any legal or other action shall be dealt with as follows: 

  

	 	(I)	 Each Party shall be reimbursed any expenses reasonably incurred in securing the sums recovered.

  

	 	(II)	 If the infringer is granted a sub-licence (either under Clause 2.3 or with CE’s consent) CE shall receive
[####] of the balance of any upfront payment made in connection with such sub-licence, after reimbursement of expenses, provided however that if, at the time of the sub-licence grant, the royalty stacking provision in Clause 4.4 is operating
to reduce the royalty payable [####], then such lower percentage shall apply. 

  

	 	(d)	 In the event that the Licensee is unsuccessful in persuading the alleged infringer to desist or fails to have
initiated an infringement action within [####] of the Licensee first becoming aware of the basis for such action, CE shall have the following rights, at its sole discretion: 

 

	 	(I)	 to prosecute such infringement under its sole control and its sole expense, and any recovery obtained shall
belong to CE; 

  

	 	(II)	 to seek interim relief. 

 

	6.4	 Infringement of third party rights  

 

	 	(a)	 If any warning letter or other notice of infringement is received by a Party, or legal action is brought
against a Party, alleging infringement of third party rights in the manufacture, use or sale of any Licensed Product or use of any Patents, that Party shall promptly provide full details to the other Party, and the Parties shall discuss the best way
to respond. 

  
 Page 15 of 32 

 EXECUTION VERSION 
  

	 	(b)	 The Licensee shall have the right but not the obligation to defend such action and shall have the right to
settle with such third party, provided that if any action or proposed settlement involves the making of any statement, express or implied, concerning the validity of any Patent or the confidentiality of the
Know-how, the consent of CE must be obtained before taking such action or making such settlement. 

  

	7.	 Warranties and liability 

 

	7.1	 Status of Licensed Technology and responsibility for development of Licensed Products 

 The Licensee acknowledges that the Licensed Technology is at an early stage of development, that it is provided “as
is” and specific results cannot be guaranteed. The Licensee shall be exclusively responsible for the technical and commercial development and manufacture of Licensed Products and for incorporating any modifications or developments thereto that
may be necessary or desirable and for all Licensed Products sold or supplied. The Parties accept that, given the nature of all scientific research and development work in respect of the Licensed Technology, specific results may not be achievable
within the timescales or within the budgets envisaged or at all. As such the Licensee makes no warranty that any or all of the scientific research and development work envisaged will be achieved. 

 

	7.2	 No representations or warranties  

 

	 	(a)	 The Licensee acknowledges that CE has not performed any searches or investigations into the existence of any
third party rights, which may affect any of the Licensed Technology and that in entering into this Agreement it does not do so in reliance on (and shall have no remedy in respect of) any representation, warranty or other provision, except as
expressly provided in this clause, in which case any remedy shall be limited to an action for breach of contract under the terms of this Agreement. 

  

	 	(b)	 CE warrants that, 

  

	 	(I)	 with the exception of the rights reserved in Clause 2.5(a), the University, CUH and the Inventors have assigned
to CE all their intellectual property rights in the Patents and have licensed to CE the Know-how; 

  

	 	(II)	 having made reasonable enquiries of the University, CUH and the Inventors (and having secured written
representations from them), CE is not aware that any third parties have any legal, financial, commercial or other equitable interest in the Licensed Technology through the provision of funding of research that generated the Licensed Technology;

  

	 	(III)	 the Patents and PCI Know-how have not been licensed to any person, or
charged or encumbered; 

  

	 	(IV)	 to the best of its knowledge and belief the Inventors are the only actual devisors of the inventions claimed in
the Patents; 

  

	 	(V)	 CE, and as far as CE is aware the University and CUH, do not own or control any other material intellectual
property other than the Licensed Technology relating to the use of modified serpins for the treatment of bleeding disorders which is the subject of the inventions claimed in the Patents; 

 

	 	(VI)	 to the best of its knowledge and belief CE is the sole owner of the Patents and has the right and authority to
enter into this Agreement; 

  
 Page 16 of 32 

 EXECUTION VERSION 
  

	 	(VII)	 to the best of its knowledge and belief the execution and delivery of this Agreement and the performance of the
transactions contemplated hereunder have been duly authorized by all necessary corporate actions; 

  

	 	(VIII)	 to the best of its knowledge and belief the performance by CE of any of its obligations hereunder does not
conflict with, or constitute a breach or a violation of any other contractual obligation to which it is a party. 

  

	 	(c)	 Except as provided by Clause 7.2(b) CE makes no representations or warranties of any kind, express or implied,
concerning the Licensed Technology including 

  

	 	(I)	 as to the satisfactory quality or fitness for a particular purpose 

 

	 	(II)	 as to the absence of latent or other defects, whether or not discoverable 

 

	 	(III)	 as to the validity or scope of the Patent or 

 

	 	(IV)	 that the exploitation of the Licensed Technology or any Licensed Product will not infringe any patents or other
intellectual property rights of a third party. 

 All conditions, warranties or other terms implied by statute or common
law are excluded from this Agreement to the fullest extent permitted by law. 
 7.3 Liability and indemnity  

 

	 	(a)	 The limitations and exclusions in this Agreement shall not apply in respect of claims for personal injury or
death caused by negligence of the Indemnitees or in respect of fraud or fraudulent misrepresentation. 

  

	 	(b)	 In respect of any damages or expenses of whatsoever nature and howsoever arising (including in contract, tort,
negligence or for breach of statutory duty or misrepresentation) in connection with any use of the Licensed Technology or the manufacture, use or sale of or any other dealing in the Licensed Products or otherwise in connection with this Agreement or
any relationships established by it: 

  

	 	(I)	 the aggregate liability of the Indemnitees and the Licensee shall be limited to [####], whichever shall
be the highe provided however that this limitation (I) shall, in relation to any breach of Clause 3 (Confidentiality), or to any wilful breach of this Agreement, be [####]; and 

 

	 	(II)	 in no circumstances shall the Indemnitees or the Licensee be liable for any indirect, incidental or
consequential damages including any loss of profits, revenue, business opportunity or goodwill. 

  

	 	(c)	 Notwithstanding anything else in this Agreement the Licensee shall indemnify the Indemnitees in full against
all demands, claims, judgements and liability (howsoever arising and whether in contract, tort, negligence or for breach of statutory duty or misrepresentation) for damages, costs, expenses or any other loss of whatsoever nature including damage to
property, financial loss, personal injury and death, which is asserted in any claim or threatened claim by any third party against all or any of the Indemnitees and which relates to or arises 

 

	 	(I)	 from use by the Licensee or any of its Affiliates or any Sub-Licensee
or any user of the whole or any part of the Licensed Technology; or 

  

	 	(II)	 in connection with the manufacture, use or sale of or any other dealing in any Licensed Products by the
Licensee or any of its Affiliates or any Sub-Licensee. 

  
 Page 17 of 32 

 EXECUTION VERSION 
  

 The indemnity also extends to the Indemnitees’ reasonable legal and professional fees
and any expenses incurred in dealing with any such third party claim. Nothing in this sub-clause shall prevent the Licensee recovering from CE, subject to the exclusions and limitations set out this Agreement,
damages due to the Licensee for default by CE of any of its contractual obligations under this Agreement. 
  

	 	(d)	 If any third party makes a claim, or notifies an intention to make a claim, against an Indemnitee which may
reasonably be considered likely to give rise to a liability under the indemnity at Clause 7.3(c)(“Claim”); 

  

	 	(I)	 the Indemnitee (or CE on behalf of the Indemnitee) shall as soon as reasonably practicable, give written notice
of the Claim to the Licensee, specifying the nature of the Claim in reasonable detail; 

  

	 	(II)	 CE hereby agrees that the Licensee shall have full conduct of such Claim provided that the Licensee keeps CE
fully informed and consults CE about the conduct of such Claim. For the purposes of this clause “consults” shall mean that the Licensee shall give full consideration to CE’s reasonable representations without being bound to follow
such representations. 

  

	 	(III)	 The Licensee shall have no right to settle any such Claim without the agreement in writing of CE. In the event
that CE does not agree to any settlement of such Claim proposed by the Licensee (such agreement not to be withheld unreasonably), the Licensee’s obligation to indemnify CE shall be limited to any amounts incurred and due to CE under the
indemnity up to the date of the proposed settlement, together with the amount of any such proposed settlement. 

  

	 	(IV)	 while the Licensee has conduct of any Claim CE shall not seek to settle or make any admission in respect of any
such Claim without the prior written consent of the Licensee (such consent not to be unreasonably conditioned, withheld or delayed), provided that the Indemnitee (or CE on behalf of the Indemnitee) may settle the Claim (after giving prior written
notice of the terms of settlement, to the extent legally possible, to the Licensee, but without obtaining the Licensee’s consent) if the Indemnitee or CE reasonably believe that failure to settle the Claim would be prejudicial to the Indemnitee
in any material respect. 

  

	 	(V)	 the Indemnitee (or CE on behalf of the Indemnitee) shall give the Licensee and its professional advisers
reasonable access at reasonable times (on reasonable prior notice) to its premises and its officers, directors, employees, agents, representatives or advisers, and to any relevant assets, accounts, documents and records within the power or control
of the Indemnitee, so as to enable the Licensee and its professional advisers to examine them and to take copies (at the Licensee’s expense) for the purpose of assessing the Claim; and 

 

	 	(VI)	 subject to the Licensee providing security to the Indemnitee (or CE on behalf of the Indemnitee) to the
Indemnitee’s or CE’s (as applicable) reasonable satisfaction against any claim, liability, costs, expenses, damages or losses which may be incurred, take such action as the Licensee may reasonably request to avoid, dispute, compromise or
defend the Claim. 

 CE shall have the right to take over conduct of any Claim at any time by serving written notice on
the Licensee. In the event that CE serves notice to take over conduct of any Claim, the Licensee’s obligation to indemnify the Indemnitee shall (in relation to that Claim only) cease to accrue immediately and be limited to any amounts incurred
and due to the Indemnitee under the indemnity up to the date CE serves such notice on the Licensee. 

  
 Page 18 of 32 

 EXECUTION VERSION 
  

	8.	 Duration and termination 

 

	8.1	 Term  

This Agreement, and the licences granted hereunder, shall come into effect on the Commencement Date and, unless terminated earlier in
accordance with this Clause 8, shall continue in force until the date on which all the granted Patents have expired or been revoked without a right of further appeal and on such date this Agreement shall terminate automatically, and the licences
granted hereunder shall and the Licensee shall be free to use the Know-how without restriction. 
  

	8.2	 Early termination by the Licensee  

The Licensee may terminate this Agreement at any time on [####] notice in writing to CE. 

 

	8.3	 Early termination by CE  

CE may terminate this Agreement in either of the following cases: 
  

	 	(a)	 forthwith by giving written notice to the Licensee if the Licensee or any of its Affiliates or any Sub-Licensee commence(s) legal proceedings, or assist(s) any third party to commence legal proceedings, to challenge the validity or ownership of any of the Patents; 

 

	 	(b)	 as provided in Clause 5.4 

 

	8.4	 Early termination by either Party  

Without prejudice to any other right or remedy, either Party may by written notice to the other Party terminate this Agreement at any time by
notice in writing to the other Party, if any of the following events occur: 
  

	 	(a)	 the other Party has materially breached this Agreement (and for the avoidance of doubt non-payment of any material sum by the Licensee under clause 4 shall be deemed a material breach) and, in case of a remediable breach other than a persistent breach, has failed to remedy that breach within thirty
days of the date of service of a written notice from the other Party specifying the breach and requiring that it be remedied; 

  

	 	(b)	 the other Party ceases to carry on business, is unable to pay its debts when they fall due, is declared
bankrupt, or an order is made or a resolution passed for the winding up of that other Party or for the appointment of an administrator, receiver, liquidator or manager of that other Party; or 

 

	 	(c)	 if the force majeure event as defined in Clause 10.1 continues for longer than 6 months, either Party shall
have the right to terminate this Agreement by serving written notice on the other. 

  

	8.5	 Consequences of termination  

 

	 	(a)	 Upon termination of this Agreement for any reason otherwise than in accordance with Clause 8.1:

  

	 	(I)	 (except where CE terminates under Clause 8.4) the Licensee, its Affiliates, and
Sub-Licensees shall be entitled to sell, use or otherwise dispose of (subject to payment of royalties under Clause 4.3) any unsold or unused stocks of the Licensed Products for a period of [####]
following the date of termination; 

  
 Page 19 of 32 

 EXECUTION VERSION 
  

	 	(II)	 subject to Clause 8.5(a)(1) above, the Licensee shall no longer be licensed to use or otherwise exploit in any
way either directly or indirectly any of the Licensed Technology 

  

	 	(III)	 subject to Clause 8.5(a)(1) above, the Licensee shall consent to the cancellation of any formal licence granted
to it or of any registration of it in any register in relation to any of the Patents; 

  

	 	(IV)	 each Party shall return to the other (or destroy at the other’s request) all Confidential Information
disclosed to it by the other and all materials containing any Confidential Information in its possession or control (including, in the case of the Licensee, in the possession or control of its Sub-Licensees);
and 

  

	 	(V)	 upon CE’s request (if Licensee has not terminated pursuant to Clause 8.4) the Licensee shall (to the
extent it is able having regard to obligations to third parties) notify CE of the nature of any materials, details of all technical processes, manufacturing data, improvements, information, know-how and
results relating to the Licensed Technology created or developed by the Licensee or sub-contractors or Sub-Licensees that may be reasonably required by CE to arrange for
the further exploitation of the Licensed Technology (provided always that the Licensee shall only be required to use reasonable endeavours to seek to incorporate appropriate access and exploitation provisions into its agreements with Sub-Licensees). The Parties shall negotiate in good faith without delay for up to [####] the terms of an agreement between them on reasonable commercial terms to enable CE to arrange for the further
exploitation of the Licensed Technology and Licensed Products as they exist at the date of termination. 

  

	 	(b)	 If the Parties are unable to agree the terms of an agreement as described in Clause 8.5(a)(V) CE may initiate
the procedure in Clause 9. 

  

	 	(c)	 The expiry or termination of this Agreement does not affect any rights or obligations of either Party which
have arisen or accrued up to and including the date of expiry or termination including the right to payment under this Agreement. 

  

	 	(d)	 Clauses 2.3(d), 2.4, 2.5, 3.2 to 3.7, 4 (in respect only of payments due on or before termination or under
Clause 8.5(a)(1)), 7, 8.5, 9 and 10 survive expiry or termination (for whatever reason). 

  

	9.	 Dispute resolution 

The Parties agree that should any dispute arise between them in relation to this Agreement (other than under Clause 5), they shall meet as soon
as practicable and negotiate in good faith with a view to resolving the dispute. 
 If the Parties are unable to settle any dispute by
negotiation within [####] (or where Clause 5.3(d)) applies, the Parties will attempt to settle it by mediation in accordance with the Centre for Effective Dispute Resolution (CEDR) Model Mediation Procedure. 

To initiate a mediation a Party must give notice in writing to the other Party, requesting a mediation in accordance with this Clause 9. 

Nothing in this Clause 9 shall prevent either Party from applying for injunctive relief to restrain any actual or potential breach of this
Agreement. 
  

	10.	 General 

  

	10.1	 Force majeure  

  
 Page 20 of 32 

 EXECUTION VERSION 
  

	 	(a)	 Notwithstanding any other provision of this Agreement, no Party need act if it is impossible to act due to
force majeure, meaning any cause beyond its control (including war, riot, natural disaster or law taking effect after the date of this Agreement). A Party affected by force majeure agrees to notify the other Party promptly after it determines that
it is unable to act. 

  

	 	(b)	 A Party has no responsibility or liability for any loss or expense suffered or incurred by the other Party as a
result of its not acting for so long as the force majeure under Clause 10.1 continues. However, the non-performing Party agrees to make reasonable efforts to avoid or remove the circumstances giving rise to
the force majeure and agrees to continue performance under this Agreement promptly when they are removed. 

  

	10.2	 Assignment  

  

	 	(a)	 Save as provided by Clause 10.2(b) and 10.2(c) neither Party may assign, transfer, charge or deal in any other
manner with this Agreement nor purport to do so without the prior written consent of the other Party. 

  

	 	(b)	 CE may assign the whole or any of its rights and obligations under this Agreement in conjunction with any
assignment of the Patents and the licence to the Know-how provided that CE’s assignee shall undertake to be bound by and perform CE’s obligations under this Agreement. CE shall notify the Licensee of
any assignment under this Agreement. 

  

	 	(c)	 The Licensee may assign all its rights and obligations under this Agreement where the assignment is connected
with the transfer of all or substantially all of the Licensee’s assets to a single purchaser and provided such purchaser undertakes to CE to be bound by and perform the obligations of the Licensee under this Agreement and is capable of
performing such obligations. The Licensee shall notify CE of any such assignment. 

  

	10.3	 Waiver  

A provision of this Agreement or any right created under it cannot be waived or varied except in writing signed by the Parties. 

 

	10.4	 Invalid clauses  

If the whole or any part of a provision of this Agreement is void, unenforceable or illegal in a jurisdiction it is severed for that
jurisdiction. The remainder of this Agreement has full force and effect and the validity or enforceability of that provision in any other jurisdiction is not affected. This clause has no effect if the severance alters the basic nature of this
Agreement or is contrary to public policy. 
  

	10.5	 No agency  

Nothing in this Agreement shall be construed as creating any agency, partnership or other form of joint enterprise between the Parties and
neither Party has the authority to act for or bind the other Party in any way. 
  

	10.6	 Notices  

Any notice to be given under this Agreement shall be in writing and delivered by hand, prepaid registered post or facsimile to the other Party
at the address or fax number set out below or to such other address or fax number as either Party may specify in writing to the other. 

  
 Page 21 of 32 

 EXECUTION VERSION 
  

			
	Notices to CE	  	Director, Cambridge Enterprise Ltd,
		  	University of Cambridge
		  	Hauser Forum
		  	3 Charles Babbage Road
		  	Cambridge
		  	CB3 OGT
		  	UK
		  	Fax number: [####] 
		
	Notices to Licensee	  	Apcintex Limited
		  	c/o Medicxi
		  	25 Great Pulteney Street
		  	London W1F 9LT
		  	Attention: The Directors
		
		  	Email: [####]and
		  	[####]
		  	with a copy to:
		  	[####]

 Notices are deemed to have been given: 

 

	 	(a)	 if delivered by hand, at the time of the delivery unless delivered after 5pm in the place of receipt or on a non-business day, in which case the notice is deemed to have been given at 9am the next business day; 

  

	 	(b)	 if sent by pre-paid first class post from within the United Kingdom,
three business days after posting (or seven business days if posted from outside the United Kingdom); and 

  

	 	(c)	 if sent by facsimile, at the time the facsimile is received shown in the transmission report as the time that
the whole facsimile was sent unless received after 5pm in the place of receipt or on a non-business day, in which case the notice is deemed to have been given at 9am the next business day.

  

	10.7	 Law and jurisdiction  

This Agreement and any documents to be entered into pursuant to it shall be governed by and construed in accordance with English law and each
Party irrevocably submits to the exclusive jurisdiction of the courts of England over any claim or matter arising under or in connection with this Agreement and the documents entered into pursuant to it except that a Party may seek an interim
injunction for enforcement of intellectual property rights as described in Clause 9 in any court of competent jurisdiction. 
  

	10.8	 Further action  

Each Party agrees to execute, acknowledge and deliver such further instruments, and do all further similar acts, as may be necessary or
appropriate to carry out the purposes and intent of this Agreement. 
  

	10.9	 Announcements  

A Party may not make press or other announcements or releases relating to this Agreement or the transactions the subject of this Agreement
without the approval of the other Party to the form and manner of the announcement or release unless and to the extent that the announcement or release: 

  
 Page 22 of 32 

 EXECUTION VERSION 
  

	 	(a)	 is required to be made by law or by a stock exchange; 

 

	 	(b)	 is made in a report to funders or in an annual report of CE, CUH, the University or one of the
University’s departments or 

  

	 	(c)	 falls within the terms of Clause 3.6(b). 

 

	10.10	 Entire agreement  

This Agreement constitutes the entire agreement and understanding of the Parties and supersedes all negotiations, understandings or previous
agreement between the Parties relating to the subject matter of this Agreement. Nothing in this Agreement, including this Clause and Clause 7.2, shall operate to limit or exclude liability for fraud or fraudulent misrepresentation. 

 

	10.11	 Third party rights  

CUH, the University, any University wholly owned subsidiary, CUH and the University’s employees and students, the Inventors and the
Principal Investigator may enforce those terms of this Agreement which expressly confer rights on them, subject to and in accordance with the Contracts (Rights of Third Parties) Act 1999. Save as aforesaid no term of this Agreement shall be
enforceable under that Act by a person who is not a party to this Agreement, but this shall not affect any right or remedy of any third party which exists or is available other than under that Act. Notwithstanding that any term of this Agreement may
be or become enforceable under that Act by a person which is not a party to it, this Agreement may be amended in any respect, or suspended, cancelled or terminated by agreement in writing between the Parties, in each case without the consent of such
third party. 
  

	10.12	 Export Control Regulations  

 

	 	(a)	 “Export Control Regulations” mean any United Nations trade sanctions or EU or UK legislation or
regulation, from time to time in force, which impose arms embargoes or control the export from the United Kingdom of goods, technology or software, including weapons of mass destruction and arms, military, paramilitary and security equipment and dual-use items (items designed for civil use but which can be used for military purposes) and certain drugs and chemicals. 

  

	 	(b)	 The Licensee shall ensure that, in using the Licensed Technology and in selling Licensed Products, it shall not
and nor shall its employees or sub-contractors or Affiliates or any Sub-Licensee directly or indirectly breach or compromise compliance with any Export Control
Regulations. 

  

	10.13	 Non-use of names and marking of Licensed Products 

  

	 	(a)	 Consent is not needed to state that CE has granted the Licensee a licence to use the Licensed Technology to
make and supply Licensed Products. In all other cases the Licensee shall not use and shall ensure that Sub-Licensees and its Affiliates do not use (including in any advertising, promotional or sales materials)
the name, any adaptation of the name, any logo, trademark or other device of 

  

	 	(I)	 the “University of Cambridge” unless it has first obtained in each case the University’s prior
written consent; 

  

	 	(II)	 “Cambridge Enterprise Limited” or of the Inventors or Principal Investigator unless it has first
obtained in each case CE’s prior written consent. 

  

	 	(b)	 To the extent commercially feasible the Licensee shall mark and cause
Sub-Licensees and its Affiliates to mark each product with the number of each issued patent which applies to it. 

  
 Page 23 of 32 

 EXECUTION VERSION 
  

	10.14	 Insurance  

Without prejudice to its obligations under Clause 0 the Licensee shall take out with a reputable insurance company and maintain at all times
during the Term public and product liability and professional indemnity insurance including against all loss of and damage to property (whether real personal or intellectual) and injury to persons including death arising out of or in connection with
this Agreement and the Licensee’s and its Affiliates’ and Sub-Licensees’ use of the Licensed Technology and use, sale of or any other dealing in any of the Licensed Products. Such insurances
shall be at a level which reflects the scale of activity in relation to the Licensed Technology, not exclude litigation in England, and include an indemnity to principals clause in favour of CE, CUH and the University. Subject thereto, cover may be
limited in respect of one claim provided that such limit must be at least [####] for public and product liability and [####] for Professional indemnity insurance shall continue to be maintained for a further [####] from the end
of the Term. 
  

	10.15	 Legal Compliance  

The Licensee shall comply with the following (and any amendment or re-enactment) in all material
respects: all statutes, bye laws, regulations, codes of practice, European and other directives and provisions and all professional rules and standards to be observed and performed in connection with the development, manufacture and sale or making
available of Licensed Products. 

  
 Page 24 of 32 

 EXECUTION VERSION 
  

 AGREED by the parties through their authorised signatories:- 

 

					
	For and on behalf of	 		  	For and on behalf of
	CAMBRIDGE ENTERPRISE LIMITED	 		  	APCINTEX LIMITED
			
	/s/ J.M. Grimshaw	 		  	
	  
	 		  	  

	Signed	 		  	Signed
			
	 J.M Grimshaw
	 		  	  

	Print name	 		  	Print name
			
	 Head of Physical Sciences
	 		  	  

	Title	 		  	Title
			
	 7 Dec 2016
	 		  	  

	Date	 		  	Date

  
 Page 25 of 32 

 EXECUTION VERSION 
  

 AGREED by the parties through their authorised signatories:- 

 

					
	For and on behalf of	 		  	For and on behalf of
	CAMBRIDGE ENTERPRISE LIMITED	 		  	APCINTEX LIMITED
			
	  
	 		  	 /s/ Kevin Johnson

	Signed	 		  	Signed
			
		 		  	 Kevin Johnson

	Print name	 		  	Print name
			
		 		  	 Chairman

	Title	 		  	Title
			
	  
	 		  	  

	Date	 		  	Date

  
 Page 26 of 32 

 EXECUTION VERSION 
  

 SCHEDULE 1 

Part A: [####] 

 EXECUTION VERSION 
  

 Part B: [####] 

  
 Page 2 of 32 

 EXECUTION VERSION 
  

 SCHEDULE 2 

Part A: [####] 

  
 Page 3 of 32 

 EXECUTION VERSION 
  

 Part B: [####] 

  
 Page 4 of 32 

			
	Execution Copy	  	CONFIDENTIAL

  

 FIRST AMENDMENT TO LICENSE AGREEMENT 

This First Amendment (the “Amendment”) to the license agreement (JHU Agreement [####]) with an Effective Date of July 21, 2015 (the
“Agreement”), is entered into as of July 22, 2018 (“Amendment Effective Date”), by and among the Johns Hopkins University, a corporation of the State of Maryland, in the United States of America, having a principal place of
business at 3400 N. Charles Street, Baltimore, Maryland 21218-2695 (hereinafter “JHU”), the Trustees of the University of Pennsylvania, a nonprofit corporation of the State of Pennsylvania, in the United States of America, having a
principal place of business at 3160 Chestnut Street, Suite 200, Philadelphia, Pennsylvania 19104 (hereinafter “PENN”), and Apcintex Limited, a corporation of England and Wales having a principal place of business at c/o Medicxi, 25 Great
Pulteney Street, England, W1F 9LT (hereinafter “Company”). 
 RECITALS 

WHEREAS, on July 21, 2015 (“Effective Date”), JHU, PENN and Serpin Haemostatics Limited (“Serpin” or
“Company”) entered into a non-exclusive license (the “Agreement”) for JHU Ref. C09948 and PENN Ref. H1264 entitled A Mouse Model of Hemophilia A, and 

WHEREAS, on or about April 2, 2016, Serpin Haemostatics Limited changed its name to Apcintex Limited (“Apcintex”) and all of
Serpin’s rights, powers, interest and obligations under various agreements with third parties, including this Agreement and this First Amendment are now vested in Apcintex and any reference to Company will name to mean Apcintex; and 

WHEREAS, the parties desire to amend the Agreement to extend the Term and update Notice and Payment Information. 

NOW THEREFORE, based upon the above premises, the parties agree as follows: 

AMENDMENT 
 1. Change of
Name. All references in the Agreement to Serpin Haemostatics Limited (“Serpin”) are changed to Apcintex Limited (“Apcintex”) and any reference to Company will mean Apcintex. 

2. Terms. Capitalized terms in this Amendment shall have the same meaning as those in the Agreement, unless specifically defined in this
Amendment. All section and paragraph references refer to sections or paragraphs as applicable, in the Agreement. References to the term “Agreement” in the Agreement shall be deemed to include the Amendment. 

3. Interpretation. Except as expressly modified herein, the Agreement shall remain in full force and effect in accordance with its terms. To the
extent there are any inconsistencies or ambiguities between this Amendment and the Agreement, the terms of this Amendment shall supersede the Agreement. 

4. Amendment Fee. Company shall pay a non-refundable Amendment Fee of [####] within [####] of the date
the last party hereto has executed this First Amendment. 

  
 Page 1 of 4 

			
	Execution Copy	  	CONFIDENTIAL

  

	5.	 Payment.  

Paragraph 4.2 shall be deleted in total and replaced with: 

4.2. All payments under this Agreement shall be made in US Dollars. All non-US taxes related to the
transfer of MICE, if any, shall be paid by COMPANY and shall not be deducted from the licensing fee due to JHU. Checks are to be made payable to “The Johns Hopkins University” and sent to: 

Executive Director 
 Johns
Hopkins Technology Ventures 
 Johns Hopkins University 

1812 Ashland Avenue, Suite 110 

Baltimore, MD 21205 
 Attn:
[####] 
 [####] 
 Wire transfers may be made
through. 
 DOMESTIC ACH & WIRE 

[####] 
 INTERNATIONAL FED
WIRE 
 [####] 
 Company shall be
responsible for any and all costs associated with wire transfers. 
  

	6.	 Paragraph 6.8 shall be deleted in its entirety and replaced with the following language: 

6.8. This Agreement shall expire [####] from the EFFECTIVE DATE (the “TERM”). Company may extend the term of this Agreement by
[####]by requesting an extension in writing to JHU at least [####]before the end of the initial term of this Agreement. An extension fee of [####] shall be payable to JHU within [####] of such written notice. Upon expiration of this Agreement,
COMPANY shall cease to use the MICE and DERIVATIVE MICE, return or sacrifice the MICE and DERIVATIVE MICE and provide evidence of such sacrifice to JHU. 
  

	7.	 Paragraph 6.11 shall be deleted and replaced with the following: 

6.11. All notices and/or communications pertaining to this Agreement shall be in writing and sent certified mail, return receipt requested, to
the parties at the following addresses or such other address as such party shall have furnished in writing to the other party in accordance with this Paragraph 6.11:  

  
 Page 2 of 4 

			
	Execution Copy	  	CONFIDENTIAL

  

			
	 If to JHU: 
	  	 Executive Director, Technology Transfer
 Johns
Hopkins Technology Ventures

		  	Johns Hopkins University
		  	1812 Ashland Ave, Suite 110
		  	Baltimore, MD 21205
		  	Phone: [####]
		  	Reference: [####]
		  	[####]If to PENN: Penn Center for Innovation
		  	University of Pennsylvania
		  	3160 Chestnut Street, Suite 200
		  	Philadelphia, PA 19104-6283
		  	Attention: Managing Director
		
	 With a copy to:
	  	University of Pennsylvania
		  	Office of General Counsel
		  	FMC Tower at Cira Centre South
		  	2929 Walnut Street, Suite 400
		  	Philadelphia, PA 19104-5099
		  	Attention: General Counsel
		
	 If to COMPANY:
	  	Apcintex Limited
		  	c/o The Cambridge Partnership
		  	Moneta Building
		  	Babraham Research Campus
		  	Babraham
		  	Cambridge
		  	CB22 3AT
		  	t: [####]
		  	Attn: [####]
		  	[####]

 8. No Other Amendment. Except as expressly amended hereby, the provisions of the Agreement shall remain in full
force and effect. 
 9. Counterparts. The parties may execute this Amendment in counterparts, each of which is deemed an original, but all of
which together constitute one and the same agreement. The Amendment may be delivered electronically and the parties hereby agree that any electronic signatures hereto are legal, valid and enforceable as originals. 

  
 Page 3 of 4 

			
	Execution Copy	  	CONFIDENTIAL

  

 IN WITNESS WHEREOF, this Amendment shall take effect as of the Amendment Effective Date after it has been
executed below by the duly authorized representatives of the parties. 
  

			
	 THE JOHNS HOPKINS UNIVERSITY
	  	 APCINTEX LIMITED

		
	 By: /s/ Steve Kousouris
	  	 By: /s/ Jim Huntington

		
	 Name: Steven L Kousouris
	  	 Name: Jim Huntington

		
	 Title: Executive Director, Technology
	  	 Title: CEO

	 Transfer Johns Hopkins Technology Ventures
	  	
		
	 Date: 12/3/2018 | 1:54 PM EST
	  	 Date: 4 Dec 2018

  

	
	 THE TRUSTEES OF THE

	 UNIVERSITY OF PENNSYLVANIA

	
	 By: /s/ John S. Swartley

	
	 Name: John S. Swartley, Ph.D.

	
	 Title: Associate Vice Provost for

	 Research and Managing Director, Penn

	 Center for Innovation

	
	 Date: 12/3/2018 | 2:01 PM EST

  
 Page 4 of 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]