Document:

EX-10.18

 Exhibit 10.18 

LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT is made and dated as of March 25, 2009 and is entered into by and between DICERNA PHARMACEUTICALS, INC.,
a Delaware corporation, and each of its subsidiaries, (hereinafter collectively referred to as the “Borrower”), and HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership (“Lender”). 

RECITALS 
 A. Borrower has
requested Lender to make available to Borrower a loan in an aggregate principal amount of up to Seven Million Dollars ($7,000,000) (the “Term Loan”); 

B. Lender is willing to make the Term Loan on the terms and conditions set forth in this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, Borrower and Lender agree as follows: 
  

	SECTION 1.	DEFINITIONS AND RULES OF CONSTRUCTION 

 1.1 Unless otherwise defined herein, the
following capitalized terms shall have the following meanings: 
 “Account Control Agreement(s)” means any agreement entered into
by and among the Lender, Borrower and a third party Bank or other institution (including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which grants Lender a perfected first
priority security interest in the subject account or accounts. 
 “ACH Authorization” means the ACH Debit Authorization Agreement
in substantially the form of Exhibit H. 
 “Advance(s)” means a Term Loan Advance. 

“Advance Date” means the funding date of any Advance. 

“Advance Request” means a request for an Advance submitted by Borrower to Lender in substantially the form of Exhibit A. 

“Agreement” means this Loan and Security Agreement, as amended from time to time. 

“Assignee” has the meaning given to it in Section 11.13. 

“Borrower Products” means all products, software, service offerings, technical data or technology currently being designed,
manufactured or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings, technical
data or technology that have been sold, licensed or distributed by Borrower since its incorporation. 

  
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 “Cash” means all cash and liquid funds. 

“Change in Control” means any (i) reorganization, recapitalization, consolidation or merger (or similar transaction or series
of related transactions) of Borrower or any Subsidiary, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of Borrower or any Subsidiary in which the holders of Borrower or Subsidiary’s outstanding
shares immediately before consummation of such transaction or series of related transactions do not, immediately after consummation of such transaction or series of related transactions, retain shares representing more than fifty percent (50%)
of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving entity is wholly owned by such parent), in each case without regard to whether Borrower or
Subsidiary is the surviving entity, or (ii) sale or issuance by Borrower of new shares of Preferred Stock of Borrower to investors, none of whom are current investors in Borrower, and such new shares of Preferred Stock are senior to all
existing Preferred Stock and Common Stock with respect to liquidation preferences, and the aggregate liquidation preference of the new shares of Preferred Stock is more than fifty percent (50%) of the aggregate liquidation preference of all
shares of Preferred Stock of the Company; provided, however, an Initial Public Offering shall not constitute a Change in Control. 

“Claims” has the meaning given to it in Section 11.10. 

“Closing Date” means the date of this Agreement. 

“Collateral” means the property described in Section 3. 

“Commitment Fee” means $20,000, which fee is due to Lender on the Closing Date, and shall be deemed fully earned on such date
regardless of the early termination of this Agreement. 
 “Confidential Information” has the meaning given to it in
Section 11.12. 
 “Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or
otherwise, of that Person with respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed,
co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit,
corporate credit cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or
other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is
made or, if not stated or determinable, the maximum reasonably anticipated 

  
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liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the
guarantee or other support arrangement. 
 “Copyright License” means any written agreement granting any right to use any Copyright
or Copyright registration, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

“Copyrights” means (i) all copyrights, whether registered or unregistered, held pursuant to the laws of the United States, any
State thereof, or of any other country; (ii) all registrations, applications and recordings in the United States Copyright Office or in any similar office or agency of the United States, of any State thereof, or of any other country;
(iii) all continuations, renewals or extensions thereof; and (iv) all registrations to be issued under any pending applications. 

“Deposit Accounts” means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account,
savings account, or certificate of deposit. 
 “ERISA” is the Employee Retirement Income Security Act of 1974, and its
regulations. 
 “Event of Default” has the meaning given to it in Section 9. 

“Facility Charge” means $77,000. 

“Financial Statements” has the meaning given to it in Section 7.1. 

“GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time. 

“Indebtedness” means indebtedness in accordance with GAAP including (a) all indebtedness for borrowed money or the deferred
purchase price of property or services (excluding trade credit entered into in the ordinary course of business due within sixty (60) days), including reimbursement and other obligations with respect to surety bonds and letters of credit,
(b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, and (d) all Contingent Obligations. 

“Initial Public Offering” means the first sale of the Borrower’s common stock in a firm commitment underwritten offering
pursuant to a registration statement under the Securities Act of 1933 filed with and declared effective by the Securities and Exchange Commission. 

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

“Intellectual Property” means all of Borrower’s Copyrights; Trademarks; Patents; Licenses; trade secrets and inventions; mask
works; Borrower’s applications therefor and 

  
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reissues, extensions, or renewals thereof; and Borrower’s goodwill associated with any of the foregoing, together with Borrower’s rights to sue for past, present and future infringement
of Intellectual Property and the goodwill associated therewith. 
 “Investment” means any beneficial ownership (including stock,
partnership or limited liability company interests) of or in any Person, or any loan, advance or capital contribution to any Person or the acquisition of all, or substantially all, of the assets of another Person. 

“Joinder Agreements” means for each Subsidiary, a completed and executed Joinder Agreement in substantially the form attached hereto
as Exhibit G. 
 “Lender” has the meaning given to it in the preamble to this Agreement. 

“Lender Expenses” are all actual and reasonable audit fees and expenses, costs, and expenses (including reasonable attorneys’
fees and expenses) for preparing, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to
Borrower in connection with this Agreement. 
 “License” means any Copyright License, Patent License, Trademark License or other
license of rights or interests. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment for security,
security interest, encumbrance, levy, lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, and any lease in the nature of
a security interest. 
 “Loan” means the Advances made under this Agreement. 

“Loan Documents” means this Agreement, the Notes, the ACH Authorization, the Account Control Agreements, the Joinder Agreements, all
UCC Financing Statements, and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby (other than the Warrant), as the same may from time to time be amended, modified, supplemented or restated.

 “Material Adverse Effect” means a material adverse effect upon: (i) the business, operations, properties, assets,
prospects or condition (financial or otherwise) of Borrower and its subsidiaries taken as a whole other than an effect in and of itself reasonably attributable to the failure of any nonclinical or clinical trial to demonstrate the desired safety or
efficacy of any biologic or drug where, Borrower’s lead investors provide such reasonable confirmation to Lender as Lender reasonably requests that they continue to support the Borrower; or (ii) the ability of Borrower to perform the
Secured Obligations in accordance with the terms of the Loan Documents, or the ability of Lender to enforce any of its rights or remedies with respect to the Secured Obligations; or (iii) the Collateral or Lender’s Liens on the Collateral
or the priority of such Liens, in each case, in the aggregate. 

  
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 “Maximum Term Loan Amount” means Seven Million Dollars ($7,000,000). 

“Maximum Rate” shall have the meaning assigned to such term in Section 2.3. 

“Note(s)” means a Term Note. 

“Patent License” means any written agreement granting any right with respect to any invention on which a Patent is in existence or a
Patent application is pending, in which agreement Borrower now holds or hereafter acquires any interest. 
 “Patents” means
(a) all letters patent of, or rights corresponding thereto, in the United States or in any other country, all registrations and recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United
States or any other country, including registrations, recordings and applications in the United Stated and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country; (b) all reissues,
continuations, continuations-in-part or extensions thereof; (c) all petty patents, divisionals, and patents or additions; and (d) all patents to be issued
under any such applications. 
 “Permitted Indebtedness” means: (i) Indebtedness of Borrower in favor of Lender arising under
this Agreement or any other Loan Document; (ii) Indebtedness existing on the Closing Date which is disclosed in Schedule 1A; (iii) (omitted intentionally); (iv) Indebtedness to trade creditors incurred in the ordinary course of
business, including Indebtedness incurred in the ordinary course of business with corporate credit cards; (v) Indebtedness that also constitutes a Permitted Investment; (vi) Subordinated Indebtedness; (vii) reimbursement obligations
in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of the Borrower or a Subsidiary thereof in an amount not to exceed $200,000 at any time outstanding, (viii) other Indebtedness in an amount
not to exceed $100,000 at any time outstanding, and (ix) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or the terms modified to impose materially more
burdensome terms upon Borrower or its Subsidiary, as the case may be. 
 “Permitted Investment” means: (i) Investments
existing on the Closing Date which are disclosed in Schedule 1 B; (ii) (a) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from
the date of acquisition thereof, (b) corporate bonds rated A or better by Standard & Poor’s Corporation or A-2 by Moody’s Investors Service and commercial paper maturing no more than
one year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s
Investors Service, (c) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, and (d) money market accounts; (iii) repurchases of stock from
former employees, directors, or consultants of Borrower under the terms of applicable repurchase agreements at the original issuance price of such securities in an aggregate amount not to exceed $300,000 in any fiscal year, provided that no Event of
Default has occurred, is continuing or would exist after giving effect to the repurchases; (iv) Investments accepted in connection with Permitted Transfers; (v) Investments (including debt obligations) received in connection with the
bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or 

  
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suppliers arising in the ordinary course of Borrower’s business; (vi) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and
suppliers who are not affiliates, in the ordinary course of business, provided that this subparagraph (vi) shall not apply to Investments of Borrower in any Subsidiary; (vii) Investments consisting of loans not involving the net
transfer on a substantially contemporaneous basis of cash proceeds to employees, officers or directors relating to the purchase of capital stock of Borrower pursuant to employee stock purchase plans or other similar agreements approved by
Borrower’s Board of Directors; (viii) Investments consisting of travel advances in the ordinary course of business; (ix) Investments in newly-formed Subsidiaries organized in the United States,
provided that such Subsidiaries enter into a Joinder Agreement promptly after their formation by Borrower and execute such other documents as shall be reasonably requested by Lender; (x) Investments in subsidiaries organized outside of the
United States approved in advance in writing by Lender; (xi) joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the nonexclusive licensing of technology, the development of technology or the
providing of technical support, provided that any cash Investments by Borrower do not exceed $250,000 in the aggregate in any fiscal year; and (xii) additional Investments that do not exceed $250,000 in the aggregate in any fiscal year. 

“Permitted Liens” means any and all of the following: (i) Liens in favor of Lender; (ii) Liens existing on the Closing
Date which are disclosed in Schedule 1 C; (iii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings; provided, that Borrower maintains
adequate reserves therefor in accordance with GAAP; (iv) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like Persons arising in the ordinary course of Borrower’s business
and imposed without action of such parties; provided, that the payment thereof is not yet required; (v) Liens arising from judgments, decrees or attachments in circumstances which do not constitute an Event of Default hereunder; (vi) the
following deposits, to the extent made in the ordinary course of business: deposits under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other
than for the repayment of borrowed money) or to secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than
liens arising under ERISA or environmental liens) or surety or appeal bonds, or to secure indemnity, performance or other similar bonds; (vii) (omitted intentionally); (viii) Liens incurred in connection with Subordinated Indebtedness;
(ix) leasehold interests in leases or subleases and licenses granted in the ordinary course of business and not interfering in any material respect with the business of the licensor; (x) Liens in favor of customs and revenue authorities
arising as a matter of law to secure payment of custom duties that are promptly paid on or before the date they become due; (xi) Liens on insurance proceeds securing the payment of financed insurance premiums that are promptly paid on or before
the date they become due (provided that such Liens extend only to such insurance proceeds and not to any other property or assets); (xii) statutory and common law rights of set-off and other similar
rights as to deposits of cash and securities in favor of banks, other depository institutions and brokerage firms; (xiii) easements, zoning restrictions,
rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially impair the value
or marketability of the related property; (xiv) Liens on cash or cash equivalents securing obligations permitted under clause (vii) of the definition of Permitted Indebtedness; and 

  
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(xv) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in clauses (i) through (xi) above; provided,
that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the original, principal amount of the indebtedness being extended, renewed or refinanced does not increase. 

“Permitted Transfers” means (i) sales of Inventory in the normal course of business,
(ii) non-exclusive licenses and similar arrangements for the use of Intellectual Property in the ordinary course of business and licenses that do not result in a legal transfer of title of the licensed
property but that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States in the ordinary course of business, (iii) dispositions of worn-out, obsolete or surplus Equipment at fair market value in the ordinary course of business, and (iv) other Transfers of assets having a fair market value of not more than $250,000 in the aggregate in any
fiscal year. 
 “Person” means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated
organization, association, corporation, limited liability company, institution, other entity or government. 
 “Preferred Stock”
means at any given time any equity security issued by Borrower that has any rights, preferences or privileges senior to Borrower’s common stock. 

“Prepayment Charge” shall have the meaning assigned to such term in Section 2.3. 

“Prime Rate” means the Prime Rate published in the Money Rates section of the Western Edition of The Wall Street Journal. 

“Receivables” means (i) all of Borrower’s Accounts, Instruments, Documents, Chattel Paper, Supporting Obligations, letters
of credit, proceeds of any letter of credit, and Letter of Credit Rights, and (ii) all customer lists, software, and business records related thereto. 

“Secured Obligations” means Borrower’s obligations under this Agreement and any Loan Document, including any obligation to pay
any amount now owing or later arising. 
 “Subordinated Indebtedness” means Indebtedness subordinated to the Secured Obligations
in amounts and on terms and conditions satisfactory to Lender in its commercially reasonable discretion. 
 “Subsequent Financing”
means the first sale in a venture capital financing by Borrower of its equity or convertible debt securities (post Series A) that closes after the Closing Date in which Borrower receives gross proceeds of at least $5,000,000. 

“Subsidiary” means an entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which
Borrower owns or controls 50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto. 

  
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 “Term Loan Advance” means any Term Loan funds advanced under this Agreement. 

“Term Loan Interest Rate” means for any day, the greater of (i) 12.95% or (ii) 12.95% plus the Prime Rate minus 3.75%, not
to exceed 15.50%. 
 “Term Loan Maturity Date” means April 1, 2012. 

“Term Note” means a Promissory Note in substantially the form of Exhibit B. 

“Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Trademarks” means all of the
following property, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest: (a) all trademarks (registered, common law or otherwise), tradenames, (and all goodwill associated therewith),
including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or any political subdivision thereof, and
(b) all reissues, extensions or renewals thereof. 
 “UCC” means the Uniform Commercial Code as the same is, from time to
time, in effect in the State of California; provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Lender’s Lien on any Collateral is
governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such
other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. 

“Warrant” means the warrant entered into in connection with the Loan. 

Unless otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a “Section,” “subsection,”
“Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in
this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP, consistently applied. Unless otherwise defined
herein or in the other Loan Documents, terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC. 

  
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	SECTION 2.	THE LOAN 

 2.1 Term Loan. 

(a) Advances. Subject to the terms and conditions of this Agreement, Lender will make, and Borrower agrees to draw, a Term Loan Advance of
$2,000,000 on the Closing Date. Beginning May 30, 2009, and continuing through June 30, 2009, Borrower may request additional Term Loan Advances in an aggregate amount up to $3,000,000 in minimum increments of $1,500,000. From
September 15, 2009 through September 30, 2009, Borrower may request one additional Term Loan Advance in an aggregate amount up to $2,000,000. The aggregate outstanding Term Loan Advances may be up to the Maximum Term Loan Amount. 

(b) Advance Request. To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request and Term Note to Lender.
Lender shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date. 

(c) Interest. The principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Interest
Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the Prime Rate changes from time to time. 

(d) Payment. Borrower will pay interest on each Term Loan Advance on the first day of each month, beginning the month after the Advance Date.
Borrower shall repay the aggregate Term Loan principal balance that is outstanding on October 31, 2009 in equal monthly installments of principal and interest beginning November 1, 2009 and continuing on the first business day of each
month thereafter through the Term Loan Maturity Date (for clarity, the principal and interest components of equal installments may vary if the Term Loan Interest Rate changes); provided however, that if (1) Borrower enters into a strategic
collaboration generating upfront proceeds of not less than $15,000,000 or closes the sale of its equity securities in a like amount; OR (2) Borrower completes animal studies of a first target that generate results satisfactory to Borrower and
Lender, then Borrower will begin repaying the aggregate Term Loan principal balance that is outstanding on January 31, 2010 beginning on February 1, 2010 and continuing on the first business day of each month thereafter through the Term
Loan Maturity Date. The entire Term Loan principal balance and all accrued but unpaid interest hereunder, shall be due and payable on Term Loan Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or
deduction and regardless of any counterclaim or defense. Lender will initiate debit entries to the Borrower’s account as authorized on the ACH Authorization on each payment date of all periodic obligations payable to Lender under each Term Note
or Term Advance. On or about the Closing Date, Lender will provide an amortization schedule to Borrower showing the payments and respective due dates. Lender will provide a revised schedule after any changes to the Term Loan Interest Rate. 

(e) Maximum Interest. Notwithstanding any provision in this Agreement, the Notes, or any other Loan Document, it is the parties’ intent
not to contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court of competent jurisdiction shall deem applicable hereto (which under the laws of the State of California shall be deemed
to be the laws relating to permissible rates of interest on commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall finally determine that Borrower has actually paid to Lender an amount of interest in excess of
the amount that would have been payable if all of the Secured Obligations had at all times borne interest at the 

  
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Maximum Rate, then such excess interest actually paid by Borrower shall be applied as follows: first, to the payment of principal outstanding on the Notes; second, after all principal is repaid,
to the payment of Lender’s accrued interest, costs, expenses, professional fees and any other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower. 

2.2 Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to five percent (5%) of the
past due amount shall be payable on notice and demand to Borrower. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and
professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus five percent (5%) per annum. In the event any interest is not paid on the due date hereunder, delinquent interest shall be added
to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c). 
 2.3 Prepayment. At its option
upon at least 7 business days prior notice to Lender, Borrower may prepay all, but not less than all, of the outstanding Advances by paying the entire principal balance, all accrued and unpaid interest, together with a prepayment charge equal to the
following percentage of the Advance amount being prepaid: if such Advance amounts are prepaid in any of the first twelve (12) months following the Closing Date, 3.0%; after twelve (12) months but prior to twenty four (24) months,
2.0%; and thereafter, 1.0% (each, a “Prepayment Charge”). Borrower agrees that the Prepayment Charge is a reasonable calculation of Lender’s lost profits in view of the difficulties and impracticality of determining actual damages
resulting from an early repayment of the Advances. Borrower shall prepay the outstanding amount of all principal and accrued and unpaid interest upon the earlier to occur of a Change in Control or within 90 days of the completion of an Initial
Public Offering in which Borrower receives net proceeds of $30,000,000 or less. 
 2.4 End of Term Charge. On the earliest to occur of
(i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay Lender a charge of $136,500.
Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date. 
  

	SECTION 3.	SECURITY INTEREST 

 3.1 As security for the prompt, complete and indefeasible
payment when due (whether on the payment dates or otherwise) of all the Secured Obligations, Borrower grants to Lender a security interest in all of Borrower’s personal property now owned or hereafter acquired, including the following
(collectively, the “Collateral”): (a) Receivables; (b) Equipment; (c) Fixtures; (d) General Intangibles (other than Intellectual Property); (e) Inventory; (f) Investment Property (but excluding thirty-five percent (35%) of the capital stock of any foreign Subsidiary that constitutes a Permitted Investment); (g) Deposit Accounts; (h) Cash; (i) Goods; and other tangible and intangible
personal property of Borrower whether now or hereafter owned or existing, leased, consigned by or to, or acquired by, Borrower and wherever located; and, to the extent not otherwise included, all Proceeds of each of the foregoing and all accessions
to, substitutions and replacements for, and rents, profits and products of each 

  
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of the foregoing; provided, however, that the Collateral shall include all Accounts and General Intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition
of all or any part, or rights in, the Intellectual Property (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual
Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of the date of this Agreement, include the Intellectual Property to the extent necessary to permit perfection of
Lender’s security interest in the Rights to Payment. 
  

	SECTION 4.	CONDITIONS PRECEDENT TO LOAN 

 The obligations of Lender to make the Loan
hereunder are subject to the satisfaction by Borrower of the following conditions: 
 4.1 Initial Advance. On or prior to the Closing Date,
Borrower shall have delivered to Lender the following: 
 (a) executed originals of the Loan Documents, Account Control Agreements, a legal
opinion of Borrower’s counsel, and all other documents and instruments reasonably required by Lender to effectuate the transactions contemplated hereby or to create and perfect the Liens of Lender with respect to all Collateral, in all cases in
form and substance reasonably acceptable to Lender; 
 (b) certified copy of resolutions of Borrower’s board of directors evidencing
approval of (i) the Loan and other transactions evidenced by the Loan Documents; and (ii) the Warrant and transactions evidenced thereby; 

(c) certified copies of the Certificate of Incorporation and the Bylaws, as amended through the Closing Date, of Borrower; 

(d) a certificate of good standing for Borrower from its state of incorporation and similar certificates from all other jurisdictions in which
it does business and where the failure to be qualified would have a Material Adverse Effect; 
 (e) payment of the Facility Charge and
reimbursement of Lender’s current expenses reimbursable pursuant to this Agreement, which amounts may be deducted from the initial Advance; and 

(f) such other documents as Lender may reasonably request. 

4.2 All Advances. On each Advance Date: 

(a) Lender shall have received (i) an Advance Request and a Note for the relevant Advance as required by Section 2.1(b), each duly
executed by Borrower’s Chief Executive Officer or Chief Financial Officer, and (ii) any other documents Lender may reasonably request. 

  
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 (b) The representations and warranties set forth in this Agreement and in Section 5 and in
the Warrant shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date.

 (c) Borrower shall be in compliance with all the material terms and provisions set forth herein and in each other Loan Document on its
part to be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing. 

(d) Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date as to the
matters specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the Advance Request. 

4.3 No Default. As of the Closing Date and each Advance Date, (i) no fact or condition exists that constitutes an Event of Default and
(ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing. 
  

	SECTION 5.	REPRESENTATIONS AND WARRANTIES OF BORROWER 

 Borrower represents and warrants
that: 
 5.1 Corporate Status. Borrower is a corporation duly organized, legally existing and in good standing under the laws of the State
of Delaware, and is duly qualified as a foreign corporation in all jurisdictions in which the nature of its business or location of its properties require such qualifications and where the failure to be qualified could reasonably be expected to have
a Material Adverse Effect. Borrower’s present name, former names (if any), locations, place of formation, tax identification number, organizational identification number and other information are correctly set forth in Exhibit C, as may be
updated by Borrower in a written notice (including any Compliance Certificate) provided to Lender after the Closing Date. 
 5.2 Collateral.
Borrower owns, or has right to, the Collateral and the Intellectual Property, free of all Liens, except for Permitted Liens. Borrower has the power and authority to grant to Lender a Lien in the Collateral as security for the Secured Obligations.

 5.3 Consents. Borrower’s execution, delivery and performance of the Notes, this Agreement and all other Loan Documents, and
Borrower’s execution of the Warrant, (i) have been duly authorized by all necessary corporate action of Borrower, (ii) will not result in the creation or imposition of any Lien upon the Collateral, other than Permitted Liens and the
Liens created by this Agreement and the other Loan Documents, (iii) do not violate any provisions of Borrower’s Certificate or Articles of Incorporation (as applicable), bylaws, or any, law, regulation, order, injunction, judgment, decree
or writ to which Borrower is subject where such violation could reasonably be expected to have a Material Adverse Effect and (iv) except as described on Schedule 5.3, do not violate any contract or agreement where such violation could
reasonably be expected to have a Material Adverse Effect or require the consent or approval of any other Person (other than consents and approvals that have been obtained). The individual or individuals executing the Loan Documents and the Warrant
are duly authorized to do so. 

  
 12 

 5.4 Material Adverse Effect. No event that has had or could reasonably be expected to have a
Material Adverse Effect has occurred and is continuing. Borrower is not aware of any event likely to occur that is reasonably expected to result in a Material Adverse Effect. 

5.5 Actions Before Governmental Authorities. Except as described on Schedule 5.5, there are no actions, suits or proceedings at law or in
equity or by or before any governmental authority now pending or, to the knowledge of Borrower, threatened in writing against or affecting Borrower or its property. 

5.6 Laws. Borrower is not in violation of any law, rule or regulation, or in default with respect to any judgment, writ, injunction or decree
of any governmental authority, where such violation or default is reasonably expected to result in a Material Adverse Effect. Borrower is not in default under any agreement or instrument evidencing Indebtedness, or any other material agreement to
which it is a party or by which it is bound. 
 5.7 Information Correct and Current. No information, report, Advance Request, financial
statement, exhibit or schedule furnished, by or on behalf of Borrower to Lender in connection with any Loan Document or included therein or delivered pursuant thereto contained, contains any material misstatement of fact or omitted, omits or will
omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are or will be made, not misleading at the time such statement was made or deemed made. Additionally, any and all
financial or business projections provided by Borrower to Lender shall be (i) provided in good faith and based on the most current data and information available to Borrower, and (ii) the most current of such projections provided to
Borrower’s Board of Directors. 
 5.8 Tax Matters. Except as described on Schedule 5.8, (a) Borrower has filed all federal,
state and local tax returns that it is required to file, (b) Borrower has duly paid or fully reserved for all taxes or installments thereof (including any interest or penalties) as and when due, which have or may become due pursuant to such
returns, and (c) Borrower has paid or fully reserved for any tax assessment received by Borrower for the three (3) years preceding the Closing Date, if any (including any taxes being contested in good faith and by appropriate proceedings).

 5.9 Intellectual Property Claims. Borrower is the sole owner of, or otherwise has the right to use, the Intellectual Property. Each of
the material Copyrights, Trademarks and Patents is valid and enforceable, (ii) no material part of the Intellectual Property has been judged invalid or unenforceable, in whole or in part, and (iii) no written claim has been made to
Borrower that any material part of the Intellectual Property violates the rights of any third party. Exhibit D is a true, correct and complete list of each of Borrower’s Patents, registered Trademarks, registered Copyrights, and material
agreements under which Borrower licenses Intellectual Property from third parties (other than shrink-wrap software licenses), together with application or registration numbers, as applicable, owned by Borrower
or any Subsidiary, in each case as of the Closing Date. Borrower is not in material breach of, nor has Borrower failed to perform any material obligations under, any of the foregoing contracts, licenses or agreements and, to Borrower’s
knowledge, no third party to any such contract, license or agreement is in material breach thereof or has failed to perform any material obligations thereunder. 

  
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 5.10 Intellectual Property. Borrower has, or in the case of any proposed business, will have, all
material rights with respect to Intellectual Property necessary in the operation or conduct of Borrower’s business as currently conducted and proposed to be conducted by Borrower. Without limiting the generality of the foregoing, and in the
case of Licenses, except for restrictions that are unenforceable under Division 9 of the UCC, Borrower has the right, to the extent required to operate Borrower’s business, to freely transfer, license or assign Intellectual Property without
condition, restriction or payment of any kind (other than license payments in the ordinary course of business) to any third party, and Borrower owns or has the right to use, pursuant to valid licenses, all software development tools, library
functions, compilers and all other third-party software and other items that are used in the design, development, promotion, sale, license, manufacture, import, export, use or distribution of Borrower
Products. 
 5.11 Borrower Products. No Intellectual Property owned by Borrower or Borrower Product has been or is subject to any actual or,
to the knowledge of Borrower, overtly threatened litigation, proceeding (including any proceeding in the United States Patent and Trademark Office or any corresponding foreign office or agency) or outstanding decree, order, judgment, settlement
agreement or stipulation that restricts in any manner Borrower’s use, transfer or licensing thereof or that may affect the validity, use or enforceability thereof. There is no decree, order, judgment, agreement, stipulation, arbitral award or
other provision entered into in connection with any litigation or proceeding that obligates Borrower to grant licenses or ownership interest in any future Intellectual Property related to the operation or conduct of the business of Borrower or
Borrower Products. Borrower has not received any written notice or claim challenging Borrower’s ownership in any Intellectual Property (or written notice of any claim challenging the ownership in any licensed Intellectual Property of the owner
thereof) or suggesting that any third party has any claim of legal or beneficial ownership with respect thereto nor, to Borrower’s knowledge, is there a reasonable basis for any such claim. Neither Borrower’s use of its Intellectual
Property nor the production and sale of Borrower Products knowingly infringes the Intellectual Property or other rights of others. 
 5.12
Financial Accounts. Exhibit E, as may be updated by the Borrower in a written notice provided to Lender after the Closing Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any
Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or
other institution, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor. 

5.13 Employee Loans. Borrower has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the
payment of any loan made to an employee, officer or director of the Borrower by a third party. 
 5.14 Capitalization and Subsidiaries.
Borrower’s capitalization as of the Closing Date is set forth on Schedule 5.14 annexed hereto. Borrower does not own any stock, partnership interest or other securities of any Person, except for Permitted Investments. Attached as
Schedule 5.14, as may be updated by Borrower in a written notice provided after the Closing Date, is a true, correct and complete list of each Subsidiary. 

  
 14 

	SECTION 6.	INSURANCE; INDEMNIFICATION 

 6.1 Coverage. Borrower shall cause to be carried and
maintained commercial general liability insurance, on an occurrence form, against risks customarily insured against in Borrower’s line of business. Such risks shall include the risks of bodily injury, including death, property damage, personal
injury, advertising injury, and contractual liability per the terms of the indemnification agreement found in Section 6.3. Borrower must maintain a minimum of $2,000,000 of commercial general liability insurance for each occurrence. Borrower
has and agrees to maintain a minimum of $4,000,000 of directors and officers’ insurance for each occurrence and $4,000,000 in the aggregate. So long as there are any Secured Obligations outstanding, Borrower shall also cause to be carried and
maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused, in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be subject to standard
exceptions and deductibles. Borrower shall also carry and maintain a fidelity insurance policy in an amount not less than $50,000. 
 6.2
Certificates. Borrower shall deliver to Lender certificates of insurance that evidence Borrower’s compliance with its insurance obligations in Section 6.1 and the obligations contained in this Section 6.2. Borrower’s insurance
certificate shall state Lender is an additional insured for commercial general liability, and a loss payee for all risk property damage insurance, subject to the insurer’s approval, a loss payee for fidelity insurance, and a loss payee for
property insurance and additional insured for liability insurance for any future insurance that Borrower may acquire from such insurer. Attached to the certificates of insurance will be additional insured endorsements for liability and lender’s
loss payable endorsements for all risk property damage insurance and fidelity. All certificates of insurance will provide for a minimum of thirty (30) days advance written notice to Lender of cancellation or any other change adverse to
Lender’s interests, except in the event of non-payment of premium whereby ten (10) days advance written notice will be given. Any failure of Lender to scrutinize such insurance certificates for
compliance is not a waiver of any of Lender’s rights, all of which are reserved. 
 6.3 Indemnity. Borrower agrees to indemnify and
hold Lender and its officers, directors, employees, agents, in-house attorneys, representatives and shareholders harmless from and against any and all claims, costs; expenses, damages and liabilities
(including such claims, costs, expenses, damages and liabilities based on liability in tort, including strict liability in tort), including reasonable attorneys’ fees and disbursements and other costs of investigation or defense (including
those incurred upon any appeal), that may be instituted or asserted against or incurred by Lender or any such Person as the result of credit having been extended, suspended or terminated under this Agreement and the other Loan Documents or the
administration of such credit, or in connection with or arising out of the transactions contemplated hereunder and thereunder, or any actions or failures to act in connection therewith, or arising out of the disposition or utilization of the
Collateral, excluding in all cases claims resulting solely from Lender’s gross negligence or willful misconduct. Borrower agrees to pay, and to save Lender harmless from, any and all liabilities with respect to, or, resulting from any delay in
paying, any and all excise, sales or other similar taxes (excluding taxes imposed on or measured by the net income of Lender) that may be payable or determined to be payable with respect to any of the Collateral or this Agreement. 

  
 15 

	SECTION 7.	COVENANTS OF BORROWER 

 Borrower agrees as follows: 

7.1 Financial Reports. Borrower shall furnish to Lender the following (the “Financial Statements”): 

(a) within 30 days after the end of each month, unaudited interim and
year-to-date financial statements as of the end of such month (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related
statements of income and cash flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have a
Material Adverse Effect, all certified by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, (ii) that they are
subject to normal year end adjustments, and (iii) they do not contain certain non-cash items that are customarily included in quarterly and annual financial statements; 

(b) within 30 days after the end of each calendar quarter, unaudited interim and year-to-date financial statements as of the end of such calendar quarter (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and cash
flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have a Material Adverse Effect, certified
by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, and (ii) that they are subject to normal year end
adjustments; as well as the most recent capitalization table for Borrower, including the weighted average exercise price of employee stock options; 

(c) within 30 days after the end of each month, a Compliance Certificate in the form of Exhibit F; 

(d) within one hundred eighty (180) days after the end of each fiscal year, (i) unqualified audited financial statements as of the
end of such year (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and cash flows, and setting forth in comparative form the corresponding figures for the preceding fiscal
year, certified by a firm of independent certified public accountants selected by Borrower and reasonably acceptable to Lender (Lender acknowledges that Deloitte is acceptable), accompanied by any management report from such accountants; 

(e) promptly after the sending thereof, copies of proxy statements or other reports or information that Borrower has provided generally to the
holders of its Preferred Stock, and promptly after the filing thereof, copies of any regular, periodic and special reports or registration statements that Borrower files with the Securities and Exchange Commission or any governmental authority that
may be substituted therefor, or any national securities exchange, provided that all information provided under this Section 7.1(e) shall be subject to the provisions of Section 11.12; 

  
 16 

 (f) at the same time and in the same manner as it gives to its directors, copies of all notices,
minutes, consents and other materials that Borrower provides to its directors in connection with meetings of the Board of Directors, and within 30 days after each such meeting, minutes of such meeting, provided that all information provided under
this Section 7.1(e) shall be subject to the provisions of Section 11.12; and 
 (g) financial and business projections promptly
following their approval by Borrower’s Board of Directors, as well as budgets, operating plans and other information relating to Borrower’s business reasonably requested by Lender. 

The executed Compliance Certificate and all Financial Statements required to be delivered pursuant to clauses (a), (b) and
(c) shall be sent via e-mail to financialstatements@herculestech.com with a copy to pshah@herculestech.com and bjadot@hereulestech.com provided, that if
e-mail is not available or sending such Financial Statements via e-mail is not possible, they shall be sent via facsimile to Lender at:
(650) 473-9194, attention Chief Credit Officer. 
 7.2 Management Rights. Borrower shall permit
any representative that Lender authorizes, including its attorneys and accountants, to inspect the Collateral and examine and make copies and abstracts of the books of account and records of Borrower at reasonable times and upon reasonable notice
during normal business hours. In addition, any such representative shall have the right to meet with management and officers of Borrower to discuss such books of account and records. In addition, Lender shall be entitled at reasonable times and
intervals to consult with and advise the management and officers of Borrower concerning significant business issues affecting Borrower. Such consultations shall not unreasonably interfere with Borrower’s business operations. The parties intend
that the rights granted Lender shall constitute “management rights” within the meaning of 29 C.F.R Section 2510.3-101(d)(3)(ii), but that any advice, recommendations or participation by Lender
with respect to any business issues shall not be deemed to give Lender, nor be deemed an exercise by Lender of, control over Borrower’s management or policies. 

7.3 Further Assurances. Borrower shall from time to time execute, deliver and file, alone or with Lender, any financing statements, security
agreements, collateral assignments, notices, control agreements, or other documents to perfect or give the priority to Lender’s Lien on the Collateral contemplated by this Agreement. Borrower shall from time to time procure any instruments or
documents as may be requested by Lender, and take all further action that may be necessary or desirable, or that Lender may reasonably request, to perfect and protect the Liens granted hereby and thereby. In addition, and for such purposes only,
Borrower hereby authorizes Lender to execute and deliver on behalf of Borrower and to file such financing statements, collateral assignments, notices, control agreements, security agreements and other documents without the signature of Borrower
either in Lender’s name or in the name of Lender as agent and attorney-in-fact for Borrower. Borrower shall protect and defend Borrower’s title to the
Collateral and Lender’s Lien thereon against all Persons claiming any interest adverse to Borrower or Lender other than Permitted Liens. 

7.4 Indebtedness. Borrower shall not create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any
Subsidiary so to do, other than Permitted 

  
 17 

 
Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower an obligation to prepay any Indebtedness, except for the conversion of Indebtedness into equity securities
and the payment of cash in lieu of fractional shares in connection with such conversion. 
 7.5 Collateral. Borrower shall at all times keep
the Collateral, the Intellectual Property and all other property and assets used in Borrower’s business or in which Borrower now or hereafter holds any interest free and clear from any legal process or Liens whatsoever (except for Permitted
Liens), and shall give Lender prompt written notice of any material legal proceedings affecting the Collateral, the Intellectual Property, such other property and assets, or any Liens thereon. Borrower shall cause its Subsidiaries to protect and
defend such Subsidiary’s title to its assets from and against all Persons claiming any interest adverse to such Subsidiary, and Borrower shall cause its Subsidiaries at all times to keep such Subsidiary’s property and assets free and clear
from any legal process or Liens whatsoever (except for Permitted Liens), and shall give Lender prompt written notice of any legal process affecting such Subsidiary’s assets. Borrower shall not agree with any Person other than Lender not to
encumber its property. 
 7.6 Investments. Borrower shall not directly or indirectly acquire or own, or make any Investment in or to any
Person, or permit any of its Subsidiaries so to do, other than Permitted Investments. 
 7.7 Distributions. Borrower shall not, and shall
not allow any Subsidiary to, (a) repurchase or redeem any class of stock or other equity interest other than pursuant to employee, director or consultant repurchase plans or other similar agreements, provided, however, in each case the
repurchase or redemption price does not exceed the original consideration paid for such stock or equity interest, or (b) declare or pay any cash dividend or make a cash distribution on any class of stock or other equity interest, except that a
Subsidiary may pay dividends or make distributions to Borrower, or (c) lend money to any employees, officers or directors or guarantee the payment of any such loans granted by a third party in excess of $100,000 in the aggregate or
(d) waive, release or forgive any indebtedness owed by any employees, officers or directors in excess of $100,000 in the aggregate. 

7.8 Transfers. Except for Permitted Transfers, Borrower shall not voluntarily or involuntarily transfer, sell, lease, license, lend or in any
other manner convey any equitable, beneficial or legal interest in any material portion of their assets. 
 7.9 Mergers or Acquisitions.
Borrower shall not merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or
acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. 
 7.10
Taxes. Borrower and its Subsidiaries shall pay when due all taxes, fees or other charges of any nature whatsoever (together with any related interest or penalties) now or hereafter imposed or assessed against Borrower, Lender or the Collateral or
upon Borrower’s ownership, possession, use, operation or disposition thereof or upon Borrower’s rents, receipts or earnings arising therefrom. Borrower shall file on or before the due date therefor all personal

  
 18 

 
property tax returns in respect of the Collateral. Notwithstanding the foregoing, Borrower may contest, in good faith and by appropriate proceedings, taxes for which Borrower maintains adequate
reserves therefor in accordance with GAAP. 
 7.11 Corporate Changes. Neither Borrower nor any Subsidiary shall change its corporate name,
legal form or jurisdiction of formation without ten (10) days’ prior written notice to Lender. Neither Borrower nor any Subsidiary shall suffer a Change in Control. Neither Borrower nor any Subsidiary shall relocate its chief executive
office or its principal place of business unless: (i) it has provided prior written notice to Lender; and (ii) such relocation shall be within the continental United States. Neither Borrower nor any Subsidiary shall relocate any item of
tangible Collateral (other than (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having an aggregate value of up to $150,000 in any fiscal year, and relocations of Collateral from a location described
on Exhibit C to another location described on Exhibit C) unless (i) it has provided prompt written notice to Lender, (ii) such relocation is within the continental United States and, (iii) if such relocation is to a third party
bailee, it has delivered a bailee agreement in form and substance reasonably acceptable to Lender. 
 7.12 Deposit Accounts. Neither
Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement. 

7.13 Borrower shall notify Lender of each material Subsidiary formed subsequent to the Closing Date and, within 15 days of formation, shall
cause any such Subsidiary organized under the laws of any State within the United States to execute and deliver to Lender a Joinder Agreement. 

7.14 Lender has received a license from the U.S. Small Business Administration (“SBA”) to extend loans as a small business
investment company (“SBIC”) pursuant to the Small Business Investment Act of 1958, as amended, and the associated regulations (collectively, the “SBIC Act”). Portions of the loan to Borrower will be made under the SBA
license and the SBIC Act. Addendum 1 to this Agreement outlines various responsibilities of Lender and Borrower associated with an SBA loan, and such Addendum 1 is hereby incorporated in this Agreement. 

 

	SECTION 8.	RIGHT TO INVEST OR CONVERT 

 8.1 Lender or its assignee or nominee may, in its
discretion, participate in the Subsequent Financing in an amount of up to $500,000 upon the occurrence of the Subsequent Financing on the same terms, conditions and pricing afforded to others participating in the Subsequent Financing. Lender or its
assignee or nominee may also, in its discretion and subject to Borrower’s consent, convert up to $1,000,000 of the outstanding principal balance hereunder on the same terms, conditions and pricing afforded to others participating in the
Subsequent Financing. 

  
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	SECTION 9.	EVENTS OF DEFAULT 

 The occurrence of any one or more of the following events
shall be an Event of Default: 
 9.1 Payments. Borrower fails to pay any amount due under this Agreement, the Notes or any of the other Loan
Documents on the due date; or 
 9.2 Covenants. Borrower breaches or defaults in the performance of any covenant or Secured Obligation under
this Agreement, the Notes, or any of the other Loan Documents, and (a) with respect to a default under any covenant under this Agreement (other than under Sections 6, 7.5, 7.6, 7.7, 7.8, 7.9 or 7.14) such default continues for more than
ten (10) days after the earlier of the date on which (i) Lender has given notice of such default to Borrower and (ii) Borrower has actual knowledge of such default or (b) with respect to a default under any of Sections 6,
7.5, 7.6, 7.7, 7.8, 7.9 or 7.14, the occurrence of such default; or 
 9.3 Material Adverse Effect. A circumstance has occurred that would
reasonably be expected to have a Material Adverse Effect; or 
 9.4 Other Loan Documents. The occurrence of any default under any Loan
Document or any other agreement between Borrower and Lender and such default continues for more than ten (10) days after the earlier of (a) Lender has given written notice of such default to Borrower, or (b) Borrower has actual
knowledge of such default; or 
 9.5 Representations. Any representation or warranty made by Borrower in any Loan Document or in the Warrant
shall have been false or misleading in any material respect; or 
 9.6 Insolvency. Borrower (A) (i) shall make an assignment for
the benefit of creditors; or (ii) shall be unable to pay its debts as they become due or be unable to pay or perform under the Loan Documents, or shall become insolvent; or (iii) shall file a voluntary petition in bankruptcy; or
(iv) shall file any petition, answer, or document seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation pertinent to such
circumstances; or (v) shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of Borrower or of all or any substantial part (i.e., 33-1/3% or more) of the
assets or property of Borrower; or (vi) shall cease operations of its business as its business has nominally been conducted, or terminate substantially all of its employees; or (vii) Borrower or its directors or majority shareholders shall
take any action initiating any of the foregoing actions described in clauses (i) through (vi); or (B) either (i) forty five (45) days shall have expired after the commencement of an involuntary action against Borrower
seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting
the operations or the business of Borrower being stayed; or (ii) a stay of any such order or proceedings shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (iii) Borrower shall file any answer
admitting or not contesting the material allegations of a petition filed against Borrower in any such proceedings; or (iv) the court in which such proceedings are pending shall enter a decree or order granting the relief sought in any such
proceedings; or (v) forty five (45) days shall have expired after the appointment, without the consent or acquiescence of Borrower, of any trustee, receiver or liquidator of Borrower or of all or any substantial part of the properties of
Borrower without such appointment being vacated; or 

  
 20 

 9.7 Attachments; Judgments. Any portion of Borrower’s assets is attached or seized, or a
levy is filed against any such assets, or a judgment or judgments is/are entered for the payment of money, individually or in the aggregate, of at least $100,000, or Borrower is enjoined or in any way prevented by court order from conducting any
part of its business; or 
 9.8 Other Obligations. The occurrence of any default under any agreement or obligation of Borrower involving any
Indebtedness in excess of $100,000, or the occurrence of any default under any agreement or obligation of Borrower that could reasonably be expected to have a Material Adverse Effect. 

 

	SECTION 10.	REMEDIES 

 10.1 General. Upon and during the continuance of any one or more Events
of Default, (i) Lender may, at its option, accelerate and demand payment of all or any part of the Secured Obligations together with the Prepayment Charge and declare them to be immediately due and payable (provided, that upon the occurrence of
an Event of Default of the type described in Section 9.6, the Notes and all of the Secured Obligations shall automatically be accelerated and made due and payable, in each case without any further notice or act), and (ii) Lender may notify
any of Borrower’s account debtors to make payment directly to Lender, compromise the amount of any such account on Borrower’s behalf and endorse Lender’s name without recourse on any such payment for deposit directly to Lender’s
account. Lender may exercise all rights and remedies with respect to the Collateral under the Loan Documents or otherwise available to it under the UCC and other applicable law, including the right to release, hold, sell, lease, liquidate, collect,
realize upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the Collateral. All Lender’s rights and remedies shall be cumulative and not exclusive. 

10.2 Collection; Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Lender may, at any time or from time to
time, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of, any or all of the Collateral, in its then condition or following any commercially reasonable preparation or processing, in such order as Lender may elect. Any
such sale may be made either at public or private sale at its place of business or elsewhere. Borrower agrees that any such public or private sale may occur upon ten (10) calendar days’ prior written notice to Borrower. Lender may require
Borrower to assemble the Collateral and make it available to Lender at a place designated by Lender that is reasonably convenient to Lender and Borrower. The proceeds of any sale, disposition or other realization upon all or any part of the
Collateral shall be applied by Lender in the following order of priorities: 
 First, to Lender in an amount sufficient to pay in full
Lender’s costs and professionals’ and advisors’ fees and expenses as described in Section 11.11; 
 Second, to Lender in
an amount equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the Default Rate interest), in such order and priority as Lender may choose in its sole discretion; and 

  
 21 

 Finally, after the full, final, and indefeasible payment in Cash of all of the Secured
Obligations, to any creditor holding a junior Lien on the Collateral, or to Borrower or its representatives or as a court of competent jurisdiction may direct. 

Lender shall be deemed to have acted reasonably in the custody, preservation and disposition of any of the Collateral if it complies with the obligations of a
secured party under the UCC. 
 10.3 No Waiver. Lender shall be under no obligation to marshal any of the Collateral for the benefit of
Borrower or any other Person, and Borrower expressly waives all rights, if any, to require Lender to marshal any Collateral. 
 10.4
Cumulative Remedies. The rights, powers and remedies of Lender hereunder shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies
provided herein shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies of Lender. 
  

	SECTION 11.	MISCELLANEOUS 

 11.1 Severability. Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective only to the extent and
duration of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

11.2 Notice. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other
communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served,
given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery or delivery by an overnight express service or overnight mail delivery service; or (ii) the third calendar day after deposit in
the United States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows: 
 (a) If
to Lender: 
 HERCULES TECHNOLOGY II, L.P. 

Legal Department 
 Attention:
Chief Legal Officer and Parag Shah 
 400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Facsimile: 650-473-9194 
 Telephone: 650-289-3068 

  
 22 

 (b) If to Borrower: 

DICERNA PHARMACEUTICALS, INC. 

480 Arsenal Street, Building 1 

Suite 120 
 Watertown, MA 02472

 Attention: James Jenson, Chief Executive Officer 

Facsimile: 
 Telephone: 

With a copy to: 
 MINTZ LEVIN
COHN FERRIS GLOVSKY AND POPEO, P.C. 
 One Financial Center 

Boston, MA 02111 
 Attention: John
Cheney, Esquire 
 Facsimile: 617-542-2241 

Telephone: 617-542-6000 

or to such other address as each party may designate for itself by like notice. Any notice delivered to a party in accordance with this
Section will be effective despite the failure to provide a copy of that notice to any person not party to this Agreement. 
 11.3 Entire
Agreement; Amendments. This Agreement, the Notes, and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and thereof, and supersede and replace in their entirety
any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof or thereof (including Lender’s revised proposal letter dated January 21, 2009).
None of the terms of this Agreement, the Notes or any of the other. Loan Documents may be amended except by an instrument executed by each of the parties hereto. 

11.4 No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an
ambiguity or question of intent or interpretation arises; this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement. 
 11.5 No Waiver. The powers conferred upon Lender by this Agreement are solely to protect its rights
hereunder and under the other Loan Documents and its interest in the Collateral and shall not impose any duty upon Lender to exercise any such powers. No omission or delay by Lender at any time to enforce any right or remedy reserved to it, or to
require performance of any of the terms, covenants or provisions hereof by Borrower at any time designated, shall be a waiver of any such right or remedy to which Lender is entitled, nor shall it in any way affect the right of Lender to enforce such
provisions thereafter. 
 11.6 Survival. All agreements, representations and warranties contained in this Agreement, the Notes and the other
Loan Documents or in any document delivered pursuant hereto or thereto shall be for the benefit of Lender and shall survive the execution and delivery of this Agreement and the expiration or other termination of this Agreement. 

  
 23 

 11.7 Successors and Assigns. The provisions of this Agreement and the other Loan Documents shall
inure to the benefit of and be binding on Borrower and its permitted assigns (if any). Borrower shall not assign its obligations under this Agreement, the Notes or any of the other Loan Documents without Lender’s express prior written
consent, and any such attempted assignment shall be void and of no effect. Lender may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to Borrower, and all of such rights shall inure to the
benefit of Lender’s successors and assigns. 
 11.8 Governing Law. This Agreement, the Notes and the other Loan Documents have been
negotiated and delivered to Lender in the State of California, and shall have been accepted by Lender in the State of California. Payment to Lender by Borrower of the Secured Obligations is due in the State of California. This Agreement, the Notes
and the other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

11.9 Consent to Jurisdiction and Venue. All judicial proceedings (to the extent that the reference requirement of Section 11.10 is not
applicable) arising in or under or related to this Agreement, the Notes or any of the other Loan Documents may be brought in any state or federal court located in the State of California. By execution and delivery of this Agreement, each party
hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County, State of California;
(c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement, the Notes or the other Loan
Documents. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 11.2, and shall be deemed effective and
received as set forth in Section 11.2. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 

11.10 Mutual Waiver of Jury Trial / Judicial Reference. 

(a) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced
and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF BORROWER AND LENDER SPECIFICALLY
WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST
LENDER OR ITS ASSIGNEE OR BY LENDER OR ITS ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims, including Claims that involve Persons other than Borrower and Lender; Claims that arise out of or are in any way connected to the
relationship between Borrower and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement, any other Loan Document. 

  
 24 

 (b) If the waiver of jury trial set forth in Section 11.10(a) is ineffective or
unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a
referee selected by the Presiding Judge of the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. 

(c) In the event Claims are to be resolved by judicial reference, either party may seek from a court identified in Section 11.9, any
prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial reference. 

11.11 Professional Fees. Borrower promises to pay Lender’s fees and expenses necessary to finalize the loan documentation, including but
not limited to reasonable attorneys fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any and all reasonable attorneys’ and other professionals’ fees and expenses (including fees and
expenses of in-house counsel) incurred by Lender after the Closing Date in connection with or related to: (a) the Loan; (b) the administration, collection, or enforcement of the Loan; (c) the
amendment or modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, sale, lease, liquidation, or disposition of Collateral or the exercise of
remedies with respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to Borrower or the Collateral, and any appeal or review thereof; and (g) any
bankruptcy, restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents, including representing Lender in any adversary proceeding or contested
matter commenced or continued by or on behalf of Borrower’s estate, and any appeal or review thereof. 
 11.12 Confidentiality. Lender
acknowledges that certain items of Collateral and information provided to Lender by Borrower are confidential and proprietary information of Borrower, whether or not marked as confidential by Borrower at the time of disclosure (the
“Confidential Information”). Accordingly, Lender agrees that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting Lender’s security interest in the Collateral shall not be disclosed to
any other person or entity in any manner whatsoever, in whole or in part, without the prior written consent of Borrower, except that Lender may disclose any such information: (a) to its own directors, officers, employees, accountants, counsel
and other professional advisors and to its affiliates if Lender in its sole discretion determines that any such party should have access to such information in connection with such party’s responsibilities in connection with the Loan or this
Agreement and, provided that such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably
protect against the disclosure of Confidential Information; (b) if such information is generally available to the public; (c) if required or appropriate in any report, statement or testimony submitted to any governmental authority having
or claiming to have jurisdiction over Lender; (d) if required or appropriate in response to any summons or subpoena or in connection with any litigation, to the extent permitted or deemed advisable by Lender’s counsel; (e) to comply
with any legal requirement or law applicable to Lender; (f) to the extent reasonably necessary in connection 

  
 25 

 
with the exercise of any right or remedy under any Loan Document, including Lender’s sale, lease, or other disposition of Collateral after default; (g) to any participant or assignee of
Lender or any prospective participant or assignee; provided, that such participant or assignee or prospective participant or assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise with the prior consent of
Borrower; provided, that any disclosure made in violation of this Agreement shall not affect the obligations of Borrower or any of its affiliates or any guarantor under this Agreement or the other Loan Documents. 

11.13 Assignment of Rights. Borrower acknowledges and understands that Lender may sell and assign all or part of its interest hereunder and
under the Note(s) and Loan Documents to any person or entity (an “Assignee”). After such assignment the term “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested with all
rights, powers and remedies of Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Lender shall retain all rights, powers and remedies hereby given. No such assignment by Lender shall
relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s), it will endorse thereon a notation as to the portion of the principal of the Note(s), which shall have been paid at the time
of such transfer and as to the date to which interest shall have been last paid thereon. 
 11.14 Revival of Secured Obligations. This
Agreement and the Loan Documents shall remain in full force and effect and continue to be effective if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent or makes an assignment for the
benefit of creditors, if a receiver or trustee is appointed for all or any significant part of Borrower’s assets, or if any payment or transfer of Collateral is recovered from Lender. The Loan Documents and the Secured Obligations and
Collateral security shall continue to be effective or shall be revived or reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Lender, or any part thereof is rescinded,
avoided or avoidable, reduced in amount, or must otherwise be restored or returned by, or is recovered from, Lender or by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or
otherwise, all as though such payment, performance, or transfer of Collateral had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and
the Secured Obligations shall be deemed, without any further action or documentation, to have been revived and reinstated except to the extent of the full, final, and indefeasible payment to Lender in Cash. 

11.15 Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts,
and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 

11.16 No Third Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or create any third-party beneficiary rights or any other rights of any kind in any person other than Lender and Borrower unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the
Loan Documents will be personal and solely between the Lender and the Borrower. 

  
 26 

 11.17 Publicity. With Borrower’s prior written consent, which shall not be unreasonably
withheld, Lender may use Borrower’s name and logo, and include a brief description of the relationship between Borrower and Lender, in Lender’s marketing materials. 

(SIGNATURES TO FOLLOW) 

  
 27 

 IN WITNESS WHEREOF, Borrower and Lender have duly executed and delivered this Loan and Security
Agreement as of the day and year first above written. 
  

			
	BORROWER:
	
	DICERNA PHARMACEUTICALS, INC.
		
	Signature:	 	 /s/ James C. Jenson, Ph.D.

		
	Print Name:	 	 James C. Jenson, Ph.D.

		
	Title:	 	 President and Chief Executive Officer

 Accepted in Palo Alto, California: 

 

			
	LENDER:
	
	HERCULES TECHNOLOGY II, L. P., a Delaware limited partnership
	
	By: Hercules Technology SBIC Management, LLC, its general partner
	
	By: Hercules Technology Growth Capital, Inc., its Manager
		
	Signature:	 	  

		
	Print Name:	 	  

		
	Title:	 	  

  
 28 

 IN WITNESS WHEREOF, Borrower and Lender have duly executed and delivered this Loan and Security
Agreement as of the day and year first above written. 
  

			
	BORROWER:
	
	DICERNA PHARMACEUTICALS, INC.
		
	Signature:	 	  

		
	Print Name:	 	  

		
	Title:	 	  

 Accepted in Palo Alto, California: 

 

			
	LENDER:
	
	HERCULES TECHNOLOGY II, L. P., a Delaware limited partnership
	
	By: Hercules Technology SBIC Management, LLC, its general partner
	
	By: Hercules Technology Growth Capital, Inc., its Manager
		
	Signature:	 	 /s/ K. Nicholas Martitsch

		
	Print Name:	 	 K. Nicholas Martitsch

		
	Title:	 	 Associate General Counsel

  
 29 

 Schedule 1 Subsidiaries 

None. 
 Schedule lA Existing Permitted Indebtedness 

None. 
 Schedule 1B Existing Permitted Investments 

Money market account at SVB Securities having a balance of $8,023,173 as of March 16, 2009. 

Schedule 1C Existing Permitted Liens 
 Clear. 

Schedule 5.3 Consents, Etc. 
 None. 

Schedule 5.5 Actions Before Governmental Authorities 

None. 
 Schedule 5.8 Tax Matters 

None. 
 Schedule 5.14 Capitalization 

 

																									
	 Holder
	  	Series A Preferred	 	 	Common Stock	 	 	Total Shares	 
	  	# Shares	 	  	%	 	 	# Shares	 	  	%	 	 	# Shares	 	  	%	 
	 Oxford Bioscience Partners V, L.P.
	  	 	7,188,018	  	  	 	33.59	% 	 	 	488,981	  	  	 	5.69	% 	 	 	7,676,999	  	  	 	25.59	% 
	 mRNA Fund V L.P.
	  	 	161,982	  	  	 	0.76	% 	 	 	11,019	  	  	 	0.13	% 	 	 	173,001	  	  	 	0.58	% 
	 Skyline Venture Partners V, L.P.
	  	 	7,800,000	  	  	 	36.45	% 	 				  				 	 	7,800,000	  	  	 	26.00	% 
	 Abingworth Bioventures V, L.P.
	  	 	5,500,000	  	  	 	25.70	% 	 				  				 	 	5,500,000	  	  	 	18.33	% 
	 Other Stockholders
	  	 	750,000	  	  	 	3.5	% 	 	 	2,100,000	  	  	 	24.41	% 	 	 	2,850,000	  	  	 	9.5	% 
	 2007 Employee, Director and Consultant Stock Plan
	  				  				 	 	6,000,000	  	  	 	69.77	% 	 	 	6,000,000	  	  	 	20.00	% 
		  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
		  	 	21,400,000	  	  	 	100.00	% 	 	 	8,600,000	  	  	 	100.00	% 	 	 	30,000,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 

  
 1 

 ADDENDUM 1 to LOAN AND SECURITY AGREEMENT 

(a) Borrower’s Business. For purposes of this Addendum 1, Borrower shall be deemed to include its “affiliates” as
defined in Title 13 Code of Federal Regulations Section 121.103. Borrower represents and warrants to Lender and covenants to Lender as follows: 
  

	 	1.	Size Status. Borrower does not have tangible net worth in excess of $18 million or average net income after Federal income taxes (excluding any carry-over losses) for the preceding two completed fiscal years in excess
of $6 million; 

  

	 	2.	No Relender. Borrower’s primary business activity does not involve, directly or indirectly, providing funds to others, purchasing debt obligations, factoring, or long-term leasing of equipment with no provision for
maintenance or repair; 

  

	 	3.	No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are
carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity; 

  

	 	4.	No Real Estate Business. Borrower is not classified under Major Group 65 (Real Estate) or Industry No. 1531 (Operative Builders) of the SIC Manual. The proceeds of the Loan will not be used to acquire or refinance
real property unless Borrower (x) is acquiring an existing property and will use at least 51 percent of the usable square footage for its business purposes; (y) is building or renovating a building and will use at least 67 percent of the
usable square footage for its business purposes; or (z) occupies the subject property and uses at least 67 percent of the usable square footage for its business purposes. 

 

	 	5.	No Project Finance. Borrower’s assets are not intended to be reduced or consumed, generally without replacement, as the life of its business progresses, and the nature of Borrower’s business does not require
that a stream of cash payments be made to the business’s financing sources, on a basis associated with the continuing sale of assets (e.g., real estate development projects and oil and gas wells). The primary purpose of the Loan is not to fund
production of a single item or defined limited number of items, generally over a defined production period, where such production will constitute the majority of the activities of Borrower (e.g., motion pictures and electric generating plants).

  

	 	6.	No Farm Land Purchases. Borrower will not use the proceeds of the Loan to acquire farm land which is or is intended to be used for agricultural or forestry purposes, such as the production of food, fiber, or wood, or is
so taxed or zoned. 

  
 1 

	 	7.	No Foreign Investment. The proceeds of the Loan will not be used substantially for a foreign operation. At the time of the Loan, Borrower will not have more than 49 percent of its employees or tangible assets located
outside the United States. The representation in this subsection (7) is made only as of the date hereof and shall not continue for one year as contemplated in the first sentence of this Section 1. 

(b) Small Business Administration Documentation. Lender acknowledges that Borrower completed, executed and delivered to Lender SBA
Forms 480, 652 and 1031 (Parts A and B) together with a business plan showing Borrower’s financial projections (including balance sheets and income and cash flows statements) for the period described therein and a written statement (whether
included in the purchase agreement or pursuant to a separate statement) from Lender regarding its intended use of proceeds from the sale of securities to Lender (the “Use of Proceeds Statement”). Borrower represents and warrants to Lender
that the information regarding Borrower and its affiliates set forth in the SBA Form 480, Form 652 and Form 1031 and the Use of Proceeds Statement delivered as of the Closing Date is accurate and complete. 

(c) Inspection. The following covenants contained in this Section (c) are intended to supplement and not to restrict the
related provisions of the Loan Documents. Subject to the preceding sentence, Borrower will permit, for so long as Lender holds any debt securities of Borrower, Lender or its representative, at Lender’ expense, and examiners of the SBA to visit
and inspect the properties and assets of Borrower, to examine its books of account and records, and to discuss Borrower’s affairs, finances and accounts with Borrower’s officers, senior management and accountants, all at such reasonable
times as may be requested by Lender or the SBA. 
 (d) Annual Assessment. Promptly after the end of each calendar year (but in any
event prior to February 28 of each year) and at such other times as may be reasonably requested by Lender, Borrower will deliver to Lender a written assessment of the economic impact of Lender’ investment in Borrower, specifying the
full-time equivalent jobs created or retained in connection with the investment, the impact of the investment on the businesses of Borrower in terms of expanded revenue and taxes, other economic benefits resulting from the investment (such as
technology development or commercialization, minority business development, or expansion of exports) and such other information as may be required regarding Borrower in connection with the filing of Lender’s SBA Form 468. Lender will assist
Borrower with preparing such assessment. In addition to any other rights granted hereunder, Borrower will grant Lender and the SBA access to Borrower’s books and records for the purpose of verifying the use of such proceeds. Borrower also will
furnish or cause to be furnished to Lender such other information regarding the business, affairs and condition of Borrower as Lender may from time to time reasonably request. 

(e) Use of Proceeds. Borrower will use the proceeds from the Loan only for general working capital purposes. Borrower will deliver to
Lender from time to time promptly following 

  
 2 

 
Lender’s request, a written report, certified as correct by Borrower’s Chief Financial Officer, verifying the purposes and amounts for which proceeds from the Loan have been disbursed.
Borrower will supply to Lender such additional information and documents as Lender reasonably requests with respect to its use of proceeds and will permit Lender and the SBA to have access to any and all Borrower records and information and
personnel as Lender deems necessary to verify how such proceeds have been or are being used, and to assure that the proceeds have been used for the purposes specified in this Section 7.16. 

(f) Activities and Proceeds. Neither Borrower nor any of its affiliates (if any) will engage in any activities or use directly or
indirectly the proceeds from the Loan for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act, including 13 C.F.R. §107.720. Without obtaining the prior written approval of Lender,
Borrower will not change within 1 year of the date hereof, Borrower’s current business activity to a business activity which a licensee under the SBIC Act is prohibited from providing funds by the SBIC Act. 

(g) Redemption Provisions. Notwithstanding any provision to the contrary contained in the, Certificate of Incorporation of Borrower, as
amended from time to lime (the “Charter”), if, pursuant to the redemption provisions contained in the Charter, Lender is entitled to a redemption of its Warrant, such redemption (in the case of Lender) will be at a price equal to the
redemption price set forth in the Charter (the “Existing Redemption Price”). If, however, Lender delivers written notice to Borrower that the then current regulations promulgated under the SBIC Act prohibit payment of the Existing
Redemption Price in the case of an SBIC (or, if applied, the Existing Redemption Price would cause the Series C Preferred Stock to lose its classification as an “equity security” and Lender has determined that such classification is
unadvisable), the amount Lender will be entitled to receive shall be the greater of (i) fair market value of the securities being redeemed taking into account the rights and preferences of such securities plus any costs and expenses of the
Lender incurred in making or maintaining the Warrant, and (ii) the Existing Redemption Price where the amount of accrued but unpaid dividends payable to the Lender is limited to Borrower’s earnings plus any costs and expenses of the Lender
incurred in making or maintaining the Warrant; provided, however, the amount calculated in subsections (i) or (ii) above shall not exceed the Existing Redemption Price. 

(h) Cost of Money. Notwithstanding any provision to the contrary contained in the Loan Documents, all interest and fees charged
pursuant to the Loan Documents shall comply with the provisions of 13 C.F.R. § 107.855, including, without limitation, that such amounts shall not exceed the Cost of Money ceiling (as defined hereafter). The current Cost of Money ceiling for
this Loan is 15.50%. 
 (i) Compliance and Resolution. Borrower agrees that a failure to comply with Borrower’s obligations
under this Addendum, or any other set of facts or circumstances where it has been asserted by any governmental regulatory agency (or Lender believes that there is a substantial risk of such assertion) that Lender and its affiliates are not entitled
to hold, or exercise any significant right with respect to, any securities issued to Lender by Borrower, will constitute a breach of the obligations of Borrower under the financing agreements between Borrower and Lender. In the event of (i) a
failure to comply with Borrower’s obligations under this Addendum; or (ii) an assertion by any governmental regulatory agency (or Lender reasonably 

  
 3 

 
believes that there is a substantial risk of such assertion) of a failure to comply with Borrower’s obligations under this Addendum, then Lender and Borrower will meet and resolve any such
issue in good faith to the satisfaction of Borrower, Lender, and any governmental regulatory agency. 

  
 4 

 EXHIBIT A 

ADVANCE REQUEST 
  

					
	To:	  	Lender:	  	Date: March    , 2009
		  	Hercules Technology II, L.P.	  	
		  	Facsimile: 650-473-9194	  	
		  	Attn:	  	

 DICERNA PHARMACEUTICALS, INC. (“Borrower”) hereby requests from Hercules Technology. II, L.P. (collectively
“Lender”) an Advance in the amount of Two Million Dollars ($2,000,000) on                     ,
             (the “Advance Date”) pursuant to the Loan and Security Agreement between Borrower and Lender (the “Agreement”). Capitalized words and other terms used but
not otherwise defined herein are used with the same meanings as defined in the Agreement. 
 Please: 

 

							
		 	(a)	  	Issue a check payable to Borrower	  	 ̈
				
		 		  	                        or	  	
				
		 	(b)	  	Wire Funds to Borrower’s account	  	x
				
		 		  	 Bank: Silicon Valley Bank
 Address: 3003
Tasman Drive
                 Santa Clara, CA 95054

ABA Number: 121140399
 Account Number: xxxxxx

Account Name: Dicerna Pharmaceuticals, Inc.
	  	

 Borrower represents that the conditions precedent to the Advance set forth in the Agreement are satisfied and
shall be satisfied upon the making of such Advance, including but not limited to: (i) that no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing; (ii) that the
representations and warranties set forth in the Agreement and in the Warrant are and shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance with all the terms and provisions set forth in each Loan Document on its part to be observed or performed; and (iv) that as of
the Advance Date, no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default under the Loan Documents. Borrower understands and acknowledges that Lender has the right to
review the financial information supporting this representation and, based upon such review in its sole discretion, Lender may decline to fund the requested Advance. 

Borrower hereby represents that Borrower’s corporate status and locations have not changed since the date of the Agreement or, if the
Attachment to this Advance Request is completed, are as set forth in the Attachment to this Advance Request. 

  
 1 

 Borrower agrees to notify Lender promptly before the funding of the Loan if any of the matters
which have been represented above shall not be true and correct on the Borrowing Date and if Lender has received no such notice before the Advance Date then the statements set forth above shall be deemed to have been made and shall be deemed to be
true and correct as of the Advance Date. 
 Executed as of March    , 2009. 

 

			
	BORROWER: DICERNA PHARMACEUTICALS, INC.
	SIGNATURE:	 	  

	TITLE:	 	  

	PRINT NAME:	 	  

  
 2 

 ATTACHMENT TO ADVANCE REQUEST 

Dated:                     

Borrower hereby represents and warrants to Lender that Borrower’s current name and organizational status is as follows: 

Name: DICERNA PHARMACEUTICALS, INC. 
 Type of organization:
Corporation 
 State of organization: Delaware 
 Organization
file number: 
 Borrower hereby represents and warrants to Lender that the street addresses, cities, states and postal codes of its current locations are as
follows: 

  
 1 

 EXHIBIT B 

SECURED TERM PROMISSORY NOTE 
  

			
	$[        ],000,000	 	Advance Date:              , 20[    ]
		
		 	Maturity Date:              , 20[    ]

 FOR VALUE RECEIVED, DICERNA PHARMACEUTICALS, INC., a Delaware corporation, for itself and each of its
Subsidiaries (the “Borrower”) hereby promises to pay to the order of Hercules Technology II, L.P., a Maryland corporation or the holder of this Note (the “Lender”) at 400 Hamilton Avenue, Suite 310, Palo Alto, CA 94301 or such
other place of payment as the holder of this Secured Term Promissory Note (this “Promissory Note”) may specify from time to time in writing, in lawful money of the United States of America, the principal amount of [ ] Million Dollars ($[
],000,000) or such other principal amount as Lender has advanced to Borrower, together with interest at a floating rate equal to the greater of (i) 12.95% or (ii) 12.95 plus the Prime Rate as reported in The Wall Street Journal minus
3.75%, not in any case to exceed 15.50%. 
 This Promissory Note is the Note referred to in, and is executed and delivered in connection
with, that certain Loan and Security Agreement dated March 25, 2009, by and between Borrower and Lender (as the same may from time to time be amended, modified or supplemented in accordance with its terms, the “Loan Agreement”), and
is entitled to the benefit and security of the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), to which reference is made for a statement of all of the terms and conditions thereof. All payments shall be made in
accordance with the Loan Agreement. All terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise defined herein. An Event of Default under the Loan Agreement shall constitute a default under this
Promissory Note. 
 Borrower waives presentment and demand for payment, notice of dishonor, protest and notice of protest under the UCC or
any applicable law. Borrower agrees to make all payments under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or defense. This Promissory Note has been negotiated and delivered to Lender and is
payable in the State of California. This Promissory Note shall be governed by and construed and enforced in accordance with, the laws of the State of California, excluding any conflicts of law rules or principles that would cause the application of
the laws of any other jurisdiction. 
 BORROWER FOR ITSELF AND ON BEHALF OF ITS SUBSIDIARIES: 

 

			
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 EXHIBIT C 

NAME, LOCATIONS, AND OTHER INFORMATION FOR BORROWER 

1. Borrower represents and warrants to Lender that Borrower’s current name and organizational status as of the Closing Date is as
follows: 
  

					
	Name:	  	Dicerna Pharmaceuticals, Inc.	  	
			
	Type of organization:	  	Corporation	  	
			
	State of organization:	  	Delaware	  	
			
	Organization file number:	  	4240086	  	

 2. Borrower represents and warrants to Lender that for five (5) years prior to the Closing Date, Borrower
did not do business under any other name or organization or form except the following: 
  

					
	Name:	  	Oncorna Pharmaceuticals, Inc.	  	
			
	Used during dates of:	  	10/24/2006 to 4/24/2007	  	
			
	Type of organization:	  	Corporation	  	
			
	State of organization:	  	Delaware	  	

 3. Borrower’s fiscal year ends on December 31. 

Borrower’s federal employer tax identification number is 20-5993609. 

4. Borrower represents and warrants to Lender that its chief executive office is located at 480 Arsenal Street, Building 1, Suite 120,
Watertown, MA 02472. 

 EXHIBIT D 

BORROWER’S PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES 

Patent Applications: 
  

			
	U.S. 11/079,476
(US2005/0277610)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 12/137,914
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 11/079,906
(US2005/0244858)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	US 12/138,215
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 11/797,216
(US2007/0265220)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 12/143,002
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 12/143,006
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 12/143,009
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 12/143,024
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 12/143,027
(Not yet published)	  	“Methods and compositions for the specific inhibition of gene expression by double-stranded RNA”
		
	U.S. 61/046,575	  	“Methods and Compositions for the Specific Inhibition of Hepatitis C Virus (HCV) by Double-Stranded RNA”
		
	U.S. 61/136,736	  	“Compositions and Methods for the Specific Inhibition of Gene Expression by dsRNA Containing a Tetraloop”
		
	U.S. 61/136,741	  	“Compositions and Methods for the Specific Inhibition of Gene Expression by dsRNA Containing Modified Nucleotides”
		
	U.S. 61/138,946	  	Dicer Substrate Hybrids
		
	U.S. 61/151,841	  	Cleavable Dicer Substrates

 Licenses: 

COH License: Exclusive License Agreement dated as of September 28, 2007 by and between Dicerna and City of Hope. This is an in-license
from COH of the Dicer Substrate Technology that Dicerna uses to trigger RNA interference (RNAi). 
 Carnegie License: License Agreement
dated as of January 15, 2009 by and between the Carnegie Institution of Washington and Dicerna. This is an in-license of the so-called “Fire and Mello” patent owned by the Carnegie Institution that covers the use of dsRNAs to induce
RNAi. The Carnegie Institution made this patent broadly available for licensing and Dicerna acquired a non-exclusive license to the patent for therapeutic purposes. 

EXHIBIT E 

BORROWER’S DEPOSIT ACCOUNTS AND INVESTMENT ACCOUNTS 

Deposit Account 
 Silicon Valley Bank 

3003 Tasman Drive 
 Santa Clara, CA 95054 

Account #: xxxxxx 
 Account in name of: Dicerna Pharmaceuticals,
Inc. 
 Investment Account 
 SVB Securities 

3003 Tasman Drive 
 Santa Clara, CA 95054 

Account #: xxxxxx 
 Account in name of: Dicerna Pharmaceuticals,
Inc. 

 EXHIBIT F 

COMPLIANCE CERTIFICATE 
 Hercules
Technology II, L.P. 
 400 Hamilton Avenue, Suite 310 
 Palo
Alto, CA 94301 
 Reference is made to that certain Loan and Security Agreement dated March 25, 2009 and all ancillary documents
entered into in connection with such Loan and Security Agreement all as may be amended from time to time, (hereinafter referred to collectively as the “Loan Agreement”) between Hercules Technology II, L.P. and Dicerna Pharmaceuticals, Inc.
(the “Company”) as Borrower. All capitalized terms not defined herein shall have the same meaning as defined in the Loan Agreement. 

The undersigned is an Officer of the Company, knowledgeable of all Company financial matters, and is authorized to provide certification of
information regarding the Company; hereby certifies that in accordance with the terms and conditions of the Loan Agreement, the Company is in compliance for the period ending
                     of all covenants, conditions and terms and hereby reaffirms that all representations and warranties contained therein are true
and correct on and as of the date of this Compliance Certificate with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, after giving effect in all
cases to any standard(s) of materiality contained in the Loan Agreement as to such representations and warranties. Attached are the required documents supporting the above certification. The undersigned further certifies that these are prepared in
accordance with GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year end adjustments) and are consistent from one period to the next except as explained below. 

 

					
	REPORTING REQUIREMENT	  	REQUIRED	  	 CHECK IF
 ATTACHED

			
	Interim Financial Statements	  	Monthly within 30 days	  	
			
	Interim Financial Statements	  	Quarterly within 30 days	  	
			
	Audited Financial Statements	  	FYE within 180 days	  	

  

			
	Very Truly Yours,
	
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	  

		
	Name:	 	  

		
	Its:	 	  

 EXHIBIT G 

FORM OF JOINDER AGREEMENT 

This Joinder Agreement (the “Joinder Agreement”) is made and dated as of
[             ], 20[    ], and is entered into by and between
                     ., a              corporation (“Subsidiary”), and Hercules
Technology II, L.P. as a Lender. 
 RECITALS 

A. Subsidiary’s Affiliate, DICERNA PHARMACEUTICALS, INC. (“Company”) has entered/desires to enter into that certain Loan and
Security Agreement dated March 25, 2009, with Lender, as such agreement may be amended (the “Loan Agreement”), together with the other agreements executed and delivered in connection therewith; 

B. Subsidiary acknowledges and agrees that it will benefit both directly and indirectly from Company’s execution of the Loan Agreement
and the other agreements executed and delivered in connection therewith; 
 AGREEMENT 

NOW THEREFORE, Subsidiary and Lender agree as follows: 

1. The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized terms not defined herein shall have
the meaning provided in the Loan Agreement. 
 2. By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions
of the Loan Agreement the same as if it were the Borrower (as defined in the Loan Agreement) under the Loan Agreement, mutatis mutandis, provided, however, that Lender shall have no duties, responsibilities or obligations to Subsidiary arising under
or related to the Loan Agreement or the other agreements executed and delivered in connection therewith. Rather, to the extent that Lender has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the other
agreements executed and delivered in connection therewith, those duties, responsibilities or obligations shall flow only to Company and not to Subsidiary or any other person or entity. By way of example (and not an exclusive list):
(a) Lender’s providing notice to Company in accordance with the Loan Agreement or as otherwise agreed between Company and Lender shall be deemed provided to Subsidiary; (b) a Lender’s providing an Advance to Company shall be
deemed an Advance to Subsidiary; and (c) Subsidiary shall have no right to request an Advance or make any other demand on Lender. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

			
	SUBSIDIARY:
	
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	Address:	 	  

	  

	Facsimile:	 	  

  

			
	HERCULES TECHNOLOGY II, L.P.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Address: 

400 Hamilton Ave., Suite 310 

Palo Alto, CA 94301 

Facsimile: 650-473-9194 

[SIGNATURE PAGE TO JOINDER AGREEMENT] 

  

 EXHIBIT H 

ACH DEBIT AUTHORIZATION AGREEMENT 

Hercules Technology II, L.P. 
 400 Hamilton Avenue, Suite 310

 Palo Alto, CA 94301 
 Re: Loan and Security
Agreement dated March 25, 2009 between Dicerna Pharmaceuticals, Inc. (“Borrower”) and Hercules Technology II, L.P. (“Company”) (the “Agreement”) 

In connection with the above referenced Agreement, the Borrower hereby authorizes the Company to initiate debit entries for the periodic payments due under
the Agreement to the Borrower’s account indicated below. The Borrower authorizes the depository institution named below to debit to such account. 
  

			
	DEPOSITORY NAME
SILICON VALLEY BANK	  	BRANCH
		
	 CITY
  

SANTA CLARA
	  	 STATE AND ZIP CODE
  

CA 95054

		
	 TRANSIT/ABA NUMBER
  

121140399
	  	 ACCOUNT NUMBER
  

xxxxxx

 This authority will remain in full force and effect so long as any amounts are due under the Agreement. 

 

			
	  

	(Borrower)(Please Print)
		
	By:	 	  

		
	Date:	 	  

 AMENDMENT NO. 1 

TO 
 LOAN AND SECURITY
AGREEMENT 
 THIS AMENDMENT NO. 1 TO LOAN
AND SECURITY AGREEMENT (this “Amendment”) is entered into this 28th day of May, 2010, by and between DICERNA
PHARMACEUTICALS, INC., a Delaware corporation, and each of its subsidiaries (hereinafter collectively referred to as “Borrower”), and HERCULES
TECHNOLOGY II, L.P., a Delaware limited partnership (“Lender”). Capitalized terms used herein without definition shall have the same meanings given them in the Loan Agreement (as defined
below). 
 RECITALS 

A. Borrower and Lender have entered into that certain Loan and Security Agreement dated as of March 25, 2009, (as may be amended,
restated, or otherwise modified, the “Loan Agreement,” pursuant to which Lender has agreed to extend and make available to Borrower certain advances of money. 

B. Borrower and Lender have agreed to amend the Loan Agreement upon the terms and conditions more fully set forth herein. 

AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing Recitals and intending to be legally bound, the parties hereto agree as follows: 

1. AMENDMENTS. 

1.1 SECTION 1 The definition of Term Loan Maturity Date is deleted in its entirety and replaced with the following:

 “Term Loan Maturity Date” means July 1, 2012. 

1.2 SECTION 2.1 Section 2.1(d) of the Loan Agreement is amended by adding the following proviso to the end of
the section: 
 “Notwithstanding anything to the contrary in the Loan Agreement, the June 2010, July 2010, and August 2010
principal payments due under the Loan Agreement (the “Deferred Principal Payments”) shall not become due and payable as set forth therein, but instead shall be deferred. The Deferred Principal Payments shall be added to the
remaining principal amount outstanding under the Loan and re-amortized in equal monthly payments of principal and interest over the remaining life of the loan as set forth in the Loan Agreement.” 

  
 1 

 2. BORROWER’S REPRESENTATIONS
AND WARRANTIES. Borrower represents and warrants that: 
 (a) immediately upon
giving effect to this Amendment (i) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties
relate to an earlier date, in which case they are true and correct as of such date), and (ii) no Event of Default has occurred and is continuing with respect to which Borrower has not been notified in writing by Lender; 

(b) Borrower has the corporate power and authority to execute and deliver this Amendment and to perform its obligations under the Loan
Agreement, as amended by this Amendment; 
 (c) the certificate of incorporation, bylaws and other organizational documents of
Borrower delivered to Lender on the Closing Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

(d) the execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized by all necessary corporate action on the part of Borrower; 
 (e)
this Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights; and 

(f) as of the date hereof, it has no defenses against the obligations to pay any amounts under the Obligations. Borrower acknowledges
that Lender has acted in good faith and has conducted in a commercially reasonable manner its relationships with Borrower in connection with this Amendment and in connection with the Loan Documents. 

(g) Borrower understands and acknowledges that Lender is entering into this Amendment in reliance upon, and in partial consideration
for, the above representations and warranties, and agrees that such reliance is reasonable and appropriate. 
 3.
LIMITATION. The amendments set forth in this Amendment shall be limited precisely as written and shall not be deemed (a) to be a waiver or modification of any other term or condition of the Loan Agreement or of
any other instrument or agreement referred to therein or to prejudice any right or remedy which Lender may now have or may have in the future under or in connection with the Loan Agreement or any instrument or agreement referred to therein; or
(b) to be a consent to any future amendment or modification or waiver to any instrument or agreement the execution and delivery of which is consented to hereby, or to any waiver of any of the provisions thereof. Except as expressly amended
hereby, the Loan Agreement shall continue in full force and effect. 

  
 2 

 4. EFFECTIVENESS. This Amendment shall become effective upon
the satisfaction of all the following conditions precedent: 
 4.1 Amendment. Borrower and Lender shall have duly executed and
delivered this Amendment to Lender. 
 4.2 Amendment Fee. Borrower shall pay to Lender with respect to this Amendment, a fully earned,
non-refundable loan amendment fee in an amount of $35,000. 
 5. COUNTERPARTS. This Amendment may be
signed in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were upon a single instrument. All counterparts shall be deemed an original of this
Amendment. 
 6. INTEGRATION. This Amendment and any documents executed in connection herewith or
pursuant hereto contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, offers and negotiations, oral or written, with respect thereto and no extrinsic evidence
whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Amendment; except that any financing statements or other agreements or instruments filed by Lender with respect to Borrower shall remain in full force and
effect. 
 7. GOVERNING LAW; VENUE. THIS AMENDMENT SHALL BE GOVERNED BY
AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. Borrower and Lender each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California. 

[signature page follows] 

  
 3 

 IN WITNESS WHEREOF, the parties have duly
authorized and caused this Amendment to be executed as of the date first written above. 
 BORROWER: 

DICERNA PHARMACEUTICALS, INC. 
  

			
	By:	 	 /s/ Douglas Fambrough

		
	Name:	 	 Douglas Fambrough

		
	Title:	 	 CEO

 LENDER: 

HERCULES TECHNOLOGY II, L.P. 

a Delaware limited partnership 
 By: Hercules Technology SBIC

 Management, LLC, its General Partner 
 By: Hercules
Technology Growth Capital Inc., 
 its Manager 
  

			
	By:	 	 /s/ K. Nicholas Martitsch

		
	Name:	 	K. Nicholas Martitsch
		
	Title:	 	Associate General Counsel

  
 4 

 SECOND AMENDMENT 

TO 
 LOAN AND SECURITY
AGREEMENT 
 THIS SECOND AMENDMENT TO LOAN AND
SECURITY AGREEMENT (this “Amendment”) is entered into as of June 28, 2011, by and between HERCULES TECHNOLOGY II, L.P. (“Lender”) and DICERNA
PHARMACEUTICALS, INC., a Delaware corporation, and each of its subsidiaries, (hereinafter collectively referred to as the “Borrower”). 

RECITALS 

Borrower and Lender are parties to that certain Loan and Security Agreement dated as of March 25, 2009, as amended from time to time,
including a First Amendment to Loan and Security Agreement dated as of May 28, 2010 (the “Agreement”). The parties desire to amend the Agreement in accordance with the terms of this Amendment. Unless otherwise defined herein,
capitalized terms in this Amendment shall have the meanings assigned in the Agreement. 
 NOW,
THEREFORE, the parties agree as follows: 
 1. The following definitions in Section 1.1 of the
Agreement are hereby added or amended to read as follows: 
 “Advance” means a Term Loan Advance or a Second Term Loan Advance.

 “Amendment Date” means June 28, 2011. 

“Maximum Term Loan Amount” means Twelve Million Dollars ($12,000,000). 

“Next Round” means the first sale in a venture capital financing by Borrower of its equity or convertible debt securities (post
Series B) that closes after the Amendment Date in which Borrower receives gross proceeds of at least $5,000,000. 
 “Second Term Loan
Advance” means an Advance made under Section 2.1.1. 
 “Term Loan Maturity Date” means January 2, 2015. 

2. Section 2.1.1 is added to the Agreement, as follows: 

2.1.1 Term Loan. 
 (a)
Advances. Subject to the terms and conditions of this Agreement, Lender will make, and Borrower agrees to draw, a Second Term Loan Advance of $7,000,000 on the Closing Date. Borrower shall use the first proceeds of the Second Term Loan Advance to
repay the entire principal balance of the outstanding Term Loan Advance and all accrued but unpaid interest (provided the End of Term Charge shall not be paid out of such proceeds, and shall 

  
 1 

 
remain due on July 1, 2012). Borrower may request additional Second Term Loan Advances in an aggregate amount of up to the Maximum Term Loan Amount minus the outstanding principal balance of
the Second Term Loan Advances, from the Amendment Date through December 15, 2011. 
 (b) Advance Request. To obtain a Second
Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request and Term Note to Lender. Lender shall fund the Second Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to
such Second Term Loan Advance is satisfied as of the requested Advance Date. 
 (c) Interest. The principal balance of each Second
Term Loan Advance shall bear interest thereon from such Advance Date at a floating rate equal to the greater of (i) 10.15% or (ii) the sum of 10.15% plus the Prime Rate minus 5.75%, not in any case to exceed 12.75% per annum, in all
cases based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed Such rate will float and change on the day the Prime Rate changes from time to time. 

(d) Payment. Borrower will pay interest on each Second Term Loan Advance on the first day of each month, beginning the month after the
Advance Date. Borrower shall repay the aggregate principal balance of Second Term Loan Advances that is outstanding on March 31, 2012 in equal monthly installments of principal and interest beginning April 1, 2012 and continuing
on the first business day of each month thereafter through the Term Loan Maturity Date (for clarity, the principal and interest components of equal installments may vary if the interest rate changes). The entire Term Loan principal balance and all
accrued but unpaid interest hereunder, shall be due and payable on the Term Loan Maturity Date. Borrower shall make all, payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. Lender will
initiate debit entries to the Borrower’s account as authorized on the ACH Authorization on each payment date of all periodic obligations payable to Lender. On or about the Amendment Date, Lender will provide an amortization schedule to Borrower
showing the payments and respective due dates. Lender will provide a revised schedule after any changes to the applicable interest rate. 

(e) Prepayment. At its option upon at least 7 business days prior notice to Lender, Borrower may prepay all or any portion (provided
that any prepayments made on less than the entire principal balance will be made in an amount no less than $500,000) of the outstanding Second Term Loan Advance by paying the principal amount being prepaid, all accrued and unpaid interest, together
with a prepayment fee equal to the following percentage of the Advance amount being prepaid: if such Second Term Loan Advance amounts are prepaid in any of the first twelve (12) months following the Amendment Date, 3.0%; after twelve
(12) months but prior to twenty four (24) months, 2.0%; and thereafter, 1.0%. Borrower agrees that the prepayment fee is a reasonable calculation of Lender’s lost profits in view of the difficulties and impracticality of determining
actual damages resulting from an early repayment of the Second Term Loan Advance. Borrower shall prepay the outstanding amount of all principal and accrued and unpaid interest upon a Change in Control; provided, however, that for purposes of the
foregoing, a “Change in Control” shall not include any bona fide equity financing transaction the primary purpose of which is to raise capital for the Borrower; provided, that the investors participating in any such transaction shall be
acceptable to the Lender in its reasonable judgment. 

  
 2 

 3. Lender or its assignee or nominee may, in its discretion, participate in the Next Round
in an amount of up to $1,000,000 upon the occurrence of the Next Round on the same terms, conditions and pricing afforded to others participating in the Next Round. Lender or its assignee or nominee may also, in its discretion and subject to
Borrower’s consent, convert up to $1,000,000 of the outstanding principal balance of the Second Term Loan Advances into equity securities of the Borrower on the same terms, conditions and pricing afforded to others participating in the Next
Round. 
 4. Unless otherwise defined, all initially capitalized terms in this Amendment shalt be as defined in the Agreement.
The Agreement, as amended hereby, shall remain in full force and effect in accordance with its terms. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an
amendment of, any right, power, or remedy of Lender under the Loan Documents, as in effect prior to the date hereof. 
 5.
Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection with the Agreement. Borrower confirms that the representations and warranties set forth in Section 5 of the Agreement are true and
correct in all material respects, and that an Event of Default has not occurred and is not continuing. 
 6. This Amendment
may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 

7. As a condition to the effectiveness of this Amendment, Lender shall have received, in form and substance satisfactory to Lender, the
following: 
 (a) this Amendment, duly executed by Borrower; 

(b) Corporate Resolutions to Borrow; 

(c) Warrant to Purchase Stock; 

(d) An insurance certificate; and 

(e) payment of an amendment fee equal to $60,000 (Lender acknowledges prior receipt of $30,000 to be applied against such fee) plus an
amount equal to the Lender Expenses incurred in connection with this Amendment. 

  
 3 

 IN WITNESS WHEREOF, the
undersigned have executed this Amendment as of the first date above written. 
  

			
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Douglas Fambrough

		
	Title:	 	 CEO

	
	HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership
	
	By: Hercules Technology SBIC Management, LLC, its general partner
	
	By: Hercules Technology Growth Capital, Inc., its Manager
		
	By:	 	  

		
	Title:	 	  

  
 4 

 IN WITNESS WHEREOF, the
undersigned have executed this Amendment as of the first date above written. 
  

			
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	  

		
	Title:	 	  

	
	HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership
	
	By: Hercules Technology SBIC Management, LLC, its general partner
	
	By: Hercules Technology Growth Capital, Inc., its Manager
		
	By:	 	 /s/ K. Nicholas Martitsch

		
	Title:	 	 Associate General Counsel

  
 5EX-10.19

 Exhibit 10.19 

***Text Omitted and Filed Separately with the Securities and Exchange 

Commission. Confidential Treatment Requested Under 
 17
C.F.R. Sections 200.80(b)(4) and 240.24b-2 
 Execution Copy 

RESEARCH COLLABORATION AND LICENSE AGREEMENT 

BETWEEN 
 DICERNA PHARMACEUTICALS,
INC. 
 AND 
 KYOWA HAKKO KIRIN
CO., LTD. 
 December 21, 2009 

 ***Text Omitted and Filed Separately with the Securities and Exchange 

Commission. Confidential Treatment Requested Under 
 17
C.F.R. Sections 200.80(b)(4) and 240.24b-2 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	ARTICLE 1	 	 DEFINITIONS
	  	 	2	  
			
	ARTICLE 2	 	 COLLABORATION OVERVIEW AND GOVERNANCE
	  	 	16	  
			
	 2.1
	 	 The Research Collaboration
	  	 	16	  
			
	 2.2
	 	 Research Collaboration Goals
	  	 	16	  
			
	 2.3
	 	 Governance – Joint Steering Committee
	  	 	16	  
			
	 2.4
	 	 Governance – Joint Research Committee
	  	 	18	  
			
	 2.5
	 	 Expiration of Research Collaboration Term
	  	 	19	  
			
	 2.6
	 	 Alliance Managers
	  	 	19	  
			
	 2.7
	 	 Appointment Not an Obligation
	  	 	20	  
			
	ARTICLE 3	 	 THE RESEARCH COLLABORATION
	  	 	20	  
			
	 3.1
	 	 Overview of Research Collaboration
	  	 	20	  
			
	 3.2
	 	 [***] DDS Technology
	  	 	20	  
			
	 3.3
	 	 Research Collaboration Term
	  	 	20	  
			
	 3.4
	 	 Research Collaboration Plans
	  	 	21	  
			
	 3.5
	 	 Funding; Costs of Manufacture
	  	 	21	  
			
	 3.6
	 	 Conduct of Research Collaboration
	  	 	22	  
			
	 3.7
	 	 [***] Technology Transfer
	  	 	24	  
			
	 3.8
	 	 Independent DDS Technology
	  	 	24	  
			
	 3.9
	 	 Research Collaboration Exclusivity
	  	 	25	  
			
	ARTICLE 4	 	 SELECTION OF PROGRAM TARGETS; OPTION RIGHTS
	  	 	25	  
			
	 4.1
	 	 Selection of Program Targets
	  	 	25	  
			
	 4.2
	 	 Designation of Research Compounds
	  	 	26	  
			
	 4.3
	 	 Supply of Proprietary Materials
	  	 	27	  
			
	ARTICLE 5	 	 DEVELOPMENT, COMMERCIALIZATION, MANUFACTURING AND SUPPLY
	  	 	27	  
			
	 5.1
	 	 KHK Development Responsibility
	  	 	27	  
			
	 5.2
	 	 Registrations
	  	 	27	  
			
	 5.3
	 	 Development and Commercialization Plans
	  	 	28	  
			
	 5.4
	 	 Manufacturing
	  	 	28	  
			
	 5.5
	 	 Development and Commercialization Diligence
	  	 	28	  
			
	 5.6
	 	 Compliance
	  	 	28	  
			
	 5.7
	 	 Reports; Information; Updates
	  	 	28	  
			
	 5.8
	 	 Adverse Event Reporting
	  	 	29	  
			
	 5.9
	 	 Co-Promotion Option
	  	 	29	  

  
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	ARTICLE 6	 	 GRANT OF LICENSE RIGHTS
	  	 	30	  
			
	 6.1
	 	 License to KHK
	  	 	30	  
			
	 6.2
	 	 Right to Sublicense
	  	 	31	  
			
	 6.3
	 	 License to DICERNA
	  	 	31	  
			
	 6.4
	 	 License Exclusivity
	  	 	32	  
			
	ARTICLE 7	 	 FINANCIAL PROVISIONS
	  	 	32	  
			
	 7.1
	 	 Upfront Payments
	  	 	32	  
			
	 7.2
	 	 Option Exercise Fees
	  	 	32	  
			
	 7.3
	 	 Lead Transfer Milestone
	  	 	33	  
			
	 7.4
	 	 R&D Milestone Payments
	  	 	33	  
			
	 7.5
	 	 Commercial Milestone Payments
	  	 	34	  
			
	 7.6
	 	 Royalty Payments
	  	 	34	  
			
	 7.7
	 	 Royalty Offsets
	  	 	35	  
			
	 7.8
	 	 Accounting Reports; Payment of Royalty
	  	 	37	  
			
	 7.9
	 	 Audit Rights
	  	 	37	  
			
	 7.10
	 	 Payments
	  	 	38	  
			
	 7.11
	 	 Income Tax Withholding
	  	 	38	  
			
	 7.12
	 	 Foreign Currency Exchange
	  	 	38	  
			
	ARTICLE 8	 	 CONFIDENTIALITY
	  	 	39	  
			
	 8.1
	 	 Nondisclosure and Nonuse Obligations
	  	 	39	  
			
	 8.2
	 	 Permitted Disclosure of Confidential Information
	  	 	39	  
			
	ARTICLE 9	 	 DISCLAIMERS, REPRESENTATIONS, WARRANTIES AND INDEMNIFICATIONS
	  	 	40	  
			
	 9.1
	 	 KHK Representations and Warranties
	  	 	40	  
			
	 9.2
	 	 DICERNA Representations and Warranties
	  	 	42	  
			
	 9.3
	 	 Disclaimer
	  	 	44	  
			
	 9.4
	 	 Responsibility and Control
	  	 	44	  
			
	 9.5
	 	 KHK’s Right to Indemnification
	  	 	44	  
			
	 9.6
	 	 DICERNA’s Right to Indemnification
	  	 	45	  
			
	 9.7
	 	 Indemnification Procedures
	  	 	45	  
			
	 9.8
	 	 Insurance
	  	 	46	  
			
	ARTICLE 10	 	 INTELLECTUAL PROPERTY
	  	 	46	  
			
	 10.1
	 	 Disclosures and Reports
	  	 	46	  
			
	 10.2
	 	 DICERNA Program Technology
	  	 	47	  
			
	 10.3
	 	 KHK Program Technology
	  	 	47	  
			
	 10.4
	 	 Joint Technology and Joint Patent Rights
	  	 	47	  

  
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	 10.5
	 	 Patent Filing and Prosecution
	  	 	47	  
			
	 10.6
	 	 Infringement Claims Against Third Parties
	  	 	50	  
			
	 10.7
	 	 Defense of Infringement Claims
	  	 	51	  
			
	ARTICLE 11	 	 TERM AND TERMINATION
	  	 	53	  
			
	 11.1
	 	 Term of Research Collaboration
	  	 	53	  
			
	 11.2
	 	 Term of Agreement
	  	 	53	  
			
	 11.3
	 	 Termination During the Research Collaboration Term
	  	 	53	  
			
	 11.4
	 	 Termination for Breach
	  	 	53	  
			
	 11.5
	 	 Termination Upon Insolvency
	  	 	54	  
			
	 11.6
	 	 KHK Termination Without Penalty
	  	 	54	  
			
	 11.7
	 	 DICERNA Termination
	  	 	54	  
			
	 11.8
	 	 Effect of Termination Due to KHK Uncured Breach or KHK Termination Without Cause
	  	 	54	  
			
	 11.9
	 	 Effect of Termination Due to DICERNA Uncured Breach
	  	 	55	  
			
	 11.10
	 	 Surviving Provisions
	  	 	56	  
			
	 11.11
	 	 Limitation of Liability
	  	 	56	  
			
	ARTICLE 12	 	 PUBLICITY
	  	 	56	  
			
	 12.1
	 	 Disclosure of Agreement
	  	 	56	  
			
	 12.2
	 	 Use of Names, Logos or Symbols
	  	 	57	  
			
	 12.3
	 	 Publication
	  	 	57	  
			
	ARTICLE 13	 	 MISCELLANEOUS
	  	 	58	  
			
	 13.1
	 	 Force Majeure
	  	 	58	  
			
	 13.2
	 	 Assignment
	  	 	58	  
			
	 13.3
	 	 Severability
	  	 	58	  
			
	 13.4
	 	 Notices
	  	 	58	  
			
	 13.5
	 	 Dispute Resolution
	  	 	59	  
			
	 13.6
	 	 Choice of Law
	  	 	60	  
			
	 13.7
	 	 Entire Agreement
	  	 	60	  
			
	 13.8
	 	 Headings
	  	 	61	  
			
	 13.9
	 	 Independent Contractors
	  	 	61	  
			
	 13.10
	 	 Further Actions
	  	 	61	  
			
	 13.11
	 	 Special Covenant: City of Hope
	  	 	61	  
			
	 13.12
	 	 Waiver
	  	 	61	  
			
	 13.13
	 	 Jointly Prepared
	  	 	61	  
			
	 13.14
	 	 Purposes and Scope
	  	 	61	  
			
	 13.15
	 	 Counterparts
	  	 	62	  

  
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 RESEARCH COLLABORATION AND LICENSE AGREEMENT 

THIS RESEARCH COLLABORATION AND LICENSE AGREEMENT (this “Agreement”) is entered into as of December 21,
2009 ( the “Effective Date”), by and between DICERNA PHARMACEUTICALS, INC., a corporation organized and existing under the laws of Delaware (“DICERNA”), and KYOWA HAKKO KIRIN CO. LTD., a
corporation organized and existing under the laws of Japan (“KHK”). 
 RECITALS 

A. DICERNA has proprietary intellectual property, technology, and know-how useful for the discovery, research, development and
commercialization of RNA interference (“RNAi”) therapeutic molecules, including its proprietary Dicer Substrate Technology and Dicer Substrate siRNA and drug delivery systems. 

B. KHK has proprietary intellectual property, technology, and know-how useful for the research, development and commercialization of
therapeutic molecules, including its proprietary [***] (as hereinafter defined) drug delivery technology, and expertise for the conduct of pharmacological in vivo studies for various pharmaceutical products. 

C. KHK and DICERNA wish to establish a collaborative relationship to identify, research, develop and optimize Dicer Substrate siRNA-based
compounds for a specified number of agreed targets and to evaluate the most applicable drug delivery system for use with the initial target, KRAS (as hereinafter defined), in the field of human cancer treatment, for the intended purpose of
proceeding to the development of compounds for the initial target and other agreed targets. 
 D. KHK and DICERNA wish to provide for the
grant to KHK of an option, in the event the results of the research collaboration for the initial target, KRAS, meet agreed criteria, under which KHK may then decide whether to elect to proceed with the further development of KRAS, as well as
research compounds, aimed at such initial target, KRAS and/or to elect to proceed with the development of other research compounds aimed at other agreed targets, in accordance with the terms and conditions set forth herein. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, the Parties agree as follows: 

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 ARTICLE 1 

DEFINITIONS 
 Capitalized terms used in
this Agreement, whether in the singular or plural, have the meanings set forth below, or as otherwise specifically defined in this Agreement. 

1.1 “Acceptance” means, with respect to a Drug Approval Application filed for a Licensed Product, (a) in the
United States, the receipt of written notice from the FDA in accordance with 21 CFR 314.101(a)(2) that such Drug Approval Application is officially “filed”; (b) in the European Union, receipt of written notice of acceptance by the
EMEA of such Drug Approval Application for filing under the centralized European procedure in accordance with any feedback received from European Regulatory Authorities; provided, that, if the centralized filing procedure is not used, then
Acceptance shall be determined upon the acceptance of such Drug Approval Application by the applicable Regulatory Authority in any European country; and (c) in Japan, receipt by KHK of written notice of acceptance of filing of such Drug
Approval Application from the Japanese Ministry of Health, Labor and Welfare (“MHLW”). 

1.2 “[***]” shall have the meaning set forth in Section 4.1(c)(ii). 

1.3 “[***]” shall have the meaning set forth in Section 4.1(c)(ii). 

1.4 “Additional Target” shall have the meaning set forth in Section 4.1(c)(i). 

1.5 “Additional Target Notice” shall have the meaning set forth in Section 4.1(c)(i). 

1.6 “Additional Target Option Period” shall have the meaning set forth in Section 4.1(c)(i). 

1.7 “Adverse Event(s)” means any untoward medical occurrence in a patient or clinical investigation subject who is
administered a medicinal product, which occurrence may have, but does not necessarily have to have, a causal relationship with the medicinal product, including any occurrence designated as an adverse event under 21 C.F.R. 312.32 and any other
Applicable Laws. 
 1.8 “Affiliate” means any person, organization, corporation or other business entity that
directly or indirectly controls, is controlled by, or is under common control with a Party hereto. For purposes of this definition, an entity will be deemed to control another entity if it owns or controls, directly or indirectly, at least fifty
percent (50%) of the outstanding stock or other voting rights entitled to elect directors or their equivalent of such other entity. 

  
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 1.9 “Annual Net Sales” means, with respect to any Calendar Year, the
aggregate amount of the Net Sales for such Calendar Year. 
 1.10 “Applicable Laws” means Federal, state, local,
national and supra-national laws, statutes, rules and regulations, including any rules, regulations or requirements of any Regulatory Authority, national securities exchange or securities listing organization, that are in effect from time to time
during the Term and apply to a particular activity hereunder. 
 1.11 “[***]” shall have the meaning set forth in
Section 7.2.5. 
 1.12 “Calendar Quarter” means the period beginning on the Effective Date and ending on the
last day of the calendar quarter in which the Effective Date falls, and thereafter the respective three month periods ending on March 31, June 30, September 30, or December 31 for so long as this Agreement is in effect.

 1.13 “Calendar Year” means the period beginning on the Effective Date and ending on December 31 of the
calendar year in which the Effective Date falls, and thereafter each successive twelve month period commencing on January 1 and ending on December 31 for so long as this Agreement is in effect. 

1.14 “Challenge” means any challenge to the validity or enforceability of any of the DICERNA Patent
Rights or KHK Patent Rights, including without limitation by (a) filing a declaratory judgment action in which any of the DICERNA Patent Rights or KHK Patent Rights is alleged to be invalid or unenforceable; (b) citing prior art pursuant
to 35 U.S.C. §301, filing a request for re-examination of any of the DICERNA Patent Rights or KHK Patent Rights pursuant to 35 U.S.C. §302 and/or §311, or provoking or becoming party to an interference with an application for any of
the DICERNA Patent Rights or KHK Patent Rights pursuant to 35 U.S.C. §135; or (c) filing or commencing any re-examination, opposition, cancellation, nullity or similar proceedings against any of the DICERNA Patent Rights or KHK Patent
Rights in any country. 
 1.15 “CMO” means any contract manufacturing organization. 

1.16 “Combination Product” means any pharmaceutical product which includes a Licensed Product and at least one
therapeutically-active compound that is not a Licensed Product, including, for example, an antibody, a low molecular weight compound or other compound that is not a DsiRNA-Based Compound and is not conjugated to a DsiRNA-Based

  
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Compound. For purposes of clarity, two or more DsiRNA-Based Compounds used together as active ingredients in a Nanoparticle DDS for a Licensed Product for a single or multiple Target(s) shall not
constitute a “Combination Product” for purposes of this Agreement. 
 1.17 “Commercially Reasonable
Efforts” means, with respect to a Party’s obligations under this Agreement, [***]. 
 1.18 “Confidential
Information” means (a) with respect to DICERNA, all tangible embodiments of DICERNA Background DDS Technology, DICERNA Background Dicer Substrate Technology and DICERNA Program Technology (b) with respect to KHK, all tangible
embodiments of KHK [***] DDS Technology and KHK Program Technology and (c) with respect to each Party, any and all inventions, Know-How, and data and shall include, without limitation, information relating to research and development plans,
experiments, results and plans, compounds, therapeutic leads, candidates and products, clinical and preclinical data, trade secrets and manufacturing, marketing, financial, regulatory, personnel and other business information and plans, all
scientific, clinical, regulatory, marketing, financial and commercial information or data, whether communicated in writing, orally or by any other means, and which is disclosed or provided by or on behalf of such Party (the
“Disclosing Party”) to the other Party (the “Receiving Party”) in connection with this Agreement. Confidential Information will not include information that: 

(a) is known by the Receiving Party at the time of its receipt, and not through a prior disclosure by the Disclosing Party, as documented by
written records; 
 (b) is properly in the public domain through no fault of the Receiving Party; 

(c) is subsequently disclosed to the Receiving Party by a Third Party who may lawfully do so and is not under an obligation of confidentiality
to the Disclosing Party; or 
 (d) is developed by the Receiving Party independently of Confidential Information received from the
Disclosing Party, as documented by written records. 
 For purposes of clarity, unless excluded from Confidential Information pursuant to (a) through
(d) above, any scientific, technical or financial information of a Party that is disclosed at any meeting of the JSC or JRC or disclosed through an audit report shall constitute Confidential Information of the Disclosing Party. Notwithstanding
anything herein to the contrary, the terms of this Agreement shall constitute Confidential Information of each Party. 
 1.19
“Control” or “Controlled” means, with respect to any Patent Rights or Know-How, that the Party owns or has a license to such Patent Rights or Know-How and has

  
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the ability to grant access, a license, or a sublicense to such Patent Rights or Know-How to the other Party as provided for in this Agreement without violating an agreement with, or infringing
any rights of, a Third Party as of the time the Party would be first required under this Agreement to grant the other Party such access, license or sublicense. 

1.20 “Co-Promote” or “Co-Promotion” means with respect to any Co-Promoted Product, the joint
promotion and Detailing (as defined in Schedule 7) of such Co-Promoted Product in the Co-Promotion Territory using a coordinated sales force consisting of representatives of both Parties. 

1.21 “Co-Promoted Product” means any Licensed Product for the Initial Target with respect to
which DICERNA has exercised a Co-Promotion Option. 
 1.22 “Co-Promotion Option” shall have the meaning set forth in
Section 5.9(b). 
 1.23 “Co-Promotion Option Exercise Payment” means, with respect to any Co-Promoted Product,
[***]. [***] 
 1.24 “Co-Promotion Option Exercise Period” means, with respect to each Licensed Product for the
Initial Target, the period commencing on [***] and continuing for a period of [***]. 
 1.25 “Co-Promotion
Territory” means the United States of America and its territories and possessions. 
 1.26
“Criteria” means the qualitative and/or quantitative required condition(s) to be used with respect to each DsiRNA-Based Compound for a given Program Target to advance the DsiRNA-Based Compound for such Program Target to the
next stage of the Research Collaboration or development. For purposes of clarity, the Criteria shall be set forth in Schedules 3-A, 3-B and 3-C attached hereto, as amended by mutual agreement of the Parties. 

1.27 “CRO” means any contract research organization. 

1.28 “CTN” means the notification submitted to the Japanese Ministry of Health, Labor and Welfare prior to the
initiation of a clinical trial in Japan. 
 1.29 “DDS” or “Drug Delivery System” means any
excipient, conjugate or formulation designed to improve the pharmacokinetic, pharmacodynamic, biodistribution, and/or other pharmaceutical properties of any DsiRNA-Based Compound and achieve intracellular uptake. 

  
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 1.30 “DDS Technology” means any Technology that relates to, or
constitutes, any DDS. 
 1.31 “Development and Commercialization Plan” shall have the meaning set
forth in Section 5.3. 
 1.32 “Development Costs” means, with respect to a Licensed Product subject to a
Co-Promotion Option, the External Development Costs and Internal Development Costs incurred by KHK (or for its account by an Affiliate or a Third Party) for the purpose of obtaining Registration in the Co-Promotion Territory after the Effective Date
that are generally consistent with the respective development activities of KHK in the applicable Development and Commercialization Plan and are directly and solely attributable to the development of such Licensed Product. 

1.33 “Development Criteria” means the qualitative and/or quantitative criteria described in Schedule 3-C with
respect to the identification of a Licensed Product. 
 1.34 “DICERNA Background DDS Patent Rights” means any Patent
Rights Controlled by DICERNA as of the Effective Date listed in the attached Schedule 2-A, and any Patent Rights Controlled or owned or controlled by DICERNA during the Term that contain one or more claims that cover DICERNA Background DDS
Technology. For purposes of clarity, attached hereto as Schedule 2-A is a list represented by DICERNA to be a complete and accurate list of patents and patent applications Controlled by DICERNA as of the Effective Date that contain one
or more claims that cover DICERNA DDS Background Technology. For purposes of this definition only, “controlled” means, with respect to any Patent Rights that DICERNA licenses from a Third Party, the ability of DICERNA to grant a
sublicense to such Patent Rights without violating the license agreement with, and without the payment by DICERNA of any additional consideration to, the Third Party licensor. 

1.35 “DICERNA Background DDS Technology” means any Know-How Controlled by DICERNA as of the Effective Date that
relates to any DDS Technology, or owned or controlled by DICERNA during the Term that relates to Nanoparticle DDS. For purposes of clarity, DICERNA Background DDS Technology shall not include DICERNA Program Technology or DICERNA’s interest in
Joint Technology. For purposes of this definition only, “controlled” means, with respect to any Know-How that DICERNA licenses from a Third Party, the ability of DICERNA to grant a sublicense to such Know-How without violating the
license agreement with, and without the payment by DICERNA of any additional consideration to, the Third Party licensor. 

  
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 1.36 “DICERNA Background Dicer Substrate Patent Rights” means any
Patent Rights Controlled by DICERNA during the Term, including without limitation the Patent Rights licensed by DICERNA from City of Hope under the DICERNA-COH License Agreement, whether filed before or after the Effective Date, other than the
DICERNA KRAS Specific Patent Rights and DICERNA Background DDS Patent Rights, that contain one or more claims that cover DICERNA Background Dicer Substrate Technology. For purposes of clarity, attached hereto as Schedule 2-B is a list
represented by DICERNA to be a complete and accurate list of patents and patent applications Controlled by DICERNA as of the Effective Date that relate to DICERNA Background Dicer Substrate Technology. 

1.37 “DICERNA Background Dicer Substrate Technology” means any Know-How with respect to DICERNA’s Dicer Substrate
platform technology that is Controlled by DICERNA during the Term. For purposes of clarity, DICERNA Background Dicer Substrate Technology shall not include DICERNA Background DDS Technology or DICERNA Program Technology. 

1.38 “DICERNA Cost and Revenue Sharing Percentage” means, with respect to any Co-Promoted Products, fifty percent
(50%). 
 1.39 “DICERNA-COH License Agreement” means that certain Exclusive License Agreement dated as of
September 28, 2007 by and between DICERNA and City of Hope. 
 1.40 “DICERNA KRAS Specific Patent Rights” means
any Patent Rights Controlled by DICERNA during the Term that contain one or more claims that are specific to KRAS. For purposes of clarity, attached hereto as Schedule 2-C is a complete and accurate list of all patents and patent applications
that are specific to KRAS and that are Controlled by DICERNA as of the Effective Date. 
 1.41 “DICERNA Patent
Rights” means, collectively, DICERNA Program Patent Rights, DICERNA Background Dicer Substrate Patent Rights, DICERNA KRAS Specific Patent Rights and, solely to the extent selected for a Research Compound or a Licensed Product pursuant
to Section 6.1, DICERNA Background DDS Patent Rights. 
 1.42 “DICERNA Program Patent Rights” means any Patent
Rights that contain one or more claims that are specific to DICERNA Program Technology. 
 1.43 “DICERNA Program
Technology” means (a) any Program Technology that (i) is not KHK Program Technology and (ii) is conceived or first reduced to practice by employees of, or consultants to, DICERNA, alone or jointly with any Third Party,
without the use in any material respect of any KHK [***] DDS Technology, KHK Patent Rights or Joint Technology; 

  
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and (b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or consultants to, DICERNA, KHK, or jointly by both Parties, that relates to, or
constitutes, DICERNA Background Dicer Substrate Technology or DICERNA Background Dicer Substrate Patent Rights. 
 1.44
“DsiRNA” or “Dicer Substrate siRNA” means any synthetic nucleic acid that is encompassed within DICERNA Background Dicer Substrate Technology and typically includes, but is not limited to, a duplex of
twenty-five (25) base pairs or longer in length and that is processed by the dicer enzyme and mediates gene silencing through the RNAi pathway. 

1.45 “DsiRNA-Based Compound” means a compound that contains or consists of DsiRNA. For purposes of clarity, a
DsiRNA-Based Compound shall include, but is not limited to, any DsiRNA Conjugate and any Nanoparticle DsiRNA Conjugate. 
 1.46
“DsiRNA Conjugate” means a Dicer Substrate that is a conjugate and that is for direct therapeutic administration (i.e., it is modified such that it has appropriate pharmaceutical properties without requiring formulation
within a Nanoparticle DDS). 
 1.47 “Drug Approval Application” means, with respect to a Licensed Product in a
particular country or region, an application for Registration of such Licensed Product in such country or region, including without limitation: (a) an NDA or sNDA; (b) a counterpart of an NDA or sNDA in any country or region in the
Territory (including, without limitation, a CTN in Japan and an MAA in the European Union); and (c) all supplements and amendments to any of the foregoing. 

1.48 “Effective Date” means the date first written above. 

1.49 “EMEA” means the European Medicines Agency or any successor agency or authority thereto. 

1.50 “European Union” or “EU” means
the countries of the European Union, as the European Union is constituted as of the Effective Date and as it may be expanded from time to time. 

1.51 “[***] Target” means the [***] Targets listed in Schedule 5-B attached hereto. 

1.52 “[***] Target Criteria Satisfaction Payment” shall have the meaning set forth in Section
7.2.4. 
 1.53 “[***] Target Exercise Notice” shall have the meaning set forth in Section
4.1(b)(i). 

  
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 1.54 “[***] Target Payment” shall have the
meaning set forth in Section 7.2.3. 
 1.55 “[***] Target Period” shall have the meaning set forth in Section
4.1(b)(i). 
 1.56 “[***] Option” shall have the meaning set forth in Section 4.1(b)(i). 

1.57 “External Development Costs” means, with respect to a Licensed Product subject to a Co-Promotion Option, [***].

 1.58 “FDA” means the United States Food and Drug Administration or any successor agency having the administrative
authority to regulate the approval for marketing of new human pharmaceutical or biological therapeutic products in the United States. 

1.59 “FDCA” means the United States Federal Food, Drug, and Cosmetic Act, as amended. 

1.60 “Field” means, collectively, the Primary Field and the Secondary Field. 

1.61 “First Commercial Sale” means with respect to any Licensed Product in a country in the Territory, the first sale,
transfer or disposition for value of such Licensed Product in such country to a Third Party by KHK, its Affiliates or its Sublicensees. For purposes of clarity, First Commercial Sale shall not include the transfer of reasonable quantities of any
free samples of a Licensed Product or reasonable quantities of a Licensed Product solely for development purposes, such as for use in experimental studies or clinical trials. 

1.62 “GAAP” means United States or Japan or other substantially equivalent generally accepted accounting principles,
consistently applied. 
 1.63 “Generic” means, with respect to a Licensed Product in each country in the Territory,
any DsiRNA-Based Compound that (a) is covered by a claim of any Patent Rights Controlled by either Party (including expired Patent Rights) specific to such Licensed Product in such country and is approved by the applicable Regulatory Authority
in such country for sale in such country; or (b) contains the same active ingredient as such Licensed Product and is approved by the applicable Regulatory Authority in such country for sale in such country; or (c) is approved by the
applicable Regulatory Authority in such country as being the same as the Licensed Product. 
 1.64 “IND” means an
Investigational New Drug application, as defined in 21 C.F.R. 312, and the regulations promulgated thereunder or any successor application authorized by the FDA under the FDCA, as amended from time to time, and any foreign equivalents thereof. 

  
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 1.65 “Independent DDS Technology” means any DDS Technology Controlled
by either Party as of the Effective Date or during the Term, other than Third Party DDS Technology, and with respect to DICERNA, other than DICERNA Background DDS Technology, and with respect to KHK, other than KHK [***] DDS Technology. 

1.66 “Initial Target” means KRAS. 

1.67 “[***]” shall have the meaning set forth in Section 7.2.2. 

1.68 “[***]” shall have the meaning set forth in Section 4.1(a)(i). 

1.69 “Initial Target Option Payment” shall have the meaning set forth in Section 7.2.1. 

1.70 “Initial Target Option Right” shall have the meaning set forth in Section 4.1(a)(i). 

1.71 “Internal Development Costs” means, with respect to a Licensed Product subject to a Co-Promotion Option, [***].

 1.72 “In Vitro Criteria” means the quantitative criteria described in Schedule 3-B attached hereto
required for the confirmation of a Target as a Program Target. 
 1.73 “In Vivo Criteria” means the qualitative
and/or quantitative criteria described in Schedule 3-A attached hereto with respect to the selection of a Research Compound. 
 1.74
“Joint Patent Rights” means Patent Rights that contain one or more claims that cover Joint Technology. 
 1.75
“Joint Research Committee” or “JRC” means the committee composed of DICERNA and KHK representatives established pursuant to Section 2.4. 

1.76 “Joint Steering Committee” or “JSC” means the committee composed of DICERNA and KHK
representatives established pursuant to Section 2.3. 
 1.77 “Joint Technology” means any Program Technology, other
than DICERNA Program Technology or KHK Program Technology, that is (a) jointly conceived or reduced to practice by employees of, or consultants to, KHK and employees of, or consultants to, DICERNA or (b) conceived or reduced to practice
solely by employees of, or consultants to, a Party through the use in any material respect of any Technology or Patent Rights of the other Party. For purposes of clarity, Joint Technology includes, but is not limited to, data and information
obtained under the Research Collaboration. 

  
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 1.78 “KHK Background Patent Rights” means any Patent Rights
Controlled by KHK during the Term that contain one or more claims that cover KHK [***] DDS Technology. For purposes of clarity, (a) KHK Background Patent Rights shall not include KHK Program Patent Rights and (b) attached hereto as
Schedule 4 is a complete and accurate list of all KHK Background Patent Rights Controlled by KHK as of the Effective Date. 
 1.79
“KHK Patent Rights” means, collectively, KHK Background Patent Rights and KHK Program Patent Rights. 
 1.80
“KHK Program Patent Rights” means any Patent Rights that contain one or more claims that are specific to KHK Program Technology. 

1.81 “KHK Program Technology” means (a) any Program Technology that (i) is not DICERNA Program Technology
and (ii) is conceived or first reduced to practice by employees of, or consultants to, KHK, alone or jointly with any Third Party, without the use in any material respect of any DICERNA Technology, DICERNA Patent Rights or Joint Technology; and
(b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or consultants to, DICERNA, KHK or jointly by both Parties, that relates to or constitutes the KHK [***] DDS Technology and/or KHK
Background Patent Rights. 
 1.82 “KHK [***] DDS Technology” means the Nanoparticle DDS Know-How known
as “[***]” Controlled by KHK. 
 1.83 “Know-How” means all tangible or intangible know-how, inventions
(whether patentable or not), discoveries, processes, formulas, data, clinical and preclinical results, non-patented inventions, trade secrets, and any physical, chemical, or biological material or any replication of any such material in whole or in
part. 
 1.84 “Knowledge” means, with respect to any representation or warranty of DICERNA or
KHK, the actual knowledge of any executive officer (as defined for purposes of Section 14 of the Securities Exchange Act of 1934, as amended) of DICERNA or KHK, as the case may be. 

1.85 “KRAS” means the KRAS Gene and its encoded protein including wild type, oncogenic mutant, and alternative spliced
isoforms (K-rasA and K-rasB). 
 1.86 “KRAS Gene” means the gene identified as follows: [***]. 

  
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 1.87 “Lead Transfer Milestone” shall have the meaning set forth in
Section 7.3. 
 1.88 “Licensed Product” means any pharmaceutical product that KHK decides to develop
that contains, incorporates or is comprised of one or more Research Compounds and that, in any case, targets one or more Program Targets. For purposes of clarity, the term Licensed Product shall include all Co-Promoted Products. 

1.89 “Lipid” means a molecule having both a lipophilic group and a hydrophilic group. 

1.90 “MAA” means an application submitted to the EMEA to obtain European Commission authorization for the marketing of
a Licensed Product in the European Union, or any successor application or procedure required to sell a Licensed Product in the European Union. 

1.91 “Major Market Country” means each of [***]. 

1.92 “[***]” shall have the meaning set forth in Section 4.1(c)(i). 

1.93 “Nanoparticle DDS” means [***]. 

1.94 “Nanoparticle DsiRNA Conjugate” means a DsiRNA that is conjugated to another molecule to improve the
pharmaceutical properties and/or performance of a Nanoparticle DDS. 
 1.95 “NDA” means a new drug application, as
defined in the FDCA and the regulations promulgated thereunder or other applications filed with the FDA to obtain approval for marketing a Licensed Product in the United States, or any future equivalent process and any foreign equivalents thereof.

 1.96 “Net Sales” means, with respect to a Licensed Product, [***]. 

1.97 “Party” means KHK or DICERNA. “Parties” means KHK and DICERNA. 

1.98 “Patent Rights” means the rights and interests in and to: (a) any patent applications (including provisional
applications and applications for certificates of invention); (b) any patents issuing from such patent applications (including certificates of invention); (c) all patents and patent applications based on, corresponding to, or claiming the
priority date(s) of any of the foregoing; (d) any reissues, substitutions, confirmations, registrations, validations, re-examinations, additions, continuations, continued prosecutions, continuations-in-part, or divisions of or to any of the
foregoing; and (e) any term extension or other governmental action which provide exclusive rights beyond the original patent expiration date. 

  
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 1.99 “Phase II Clinical Trial” means one or more clinical trials
conducted in patients with a particular disease or condition, which clinical trial(s) are designed to establish the safety, appropriate dosage and pharmacological activity of an investigational drug given its intended use, and to initially explore
its efficacy for such disease or condition. 
 1.100 “Phase III Clinical Trial” means one or more clinical trials on
sufficient numbers of patients, which clinical trial(s) are designed to (a) establish that a drug is safe and efficacious for its intended use; (b) define warnings, precautions and adverse reactions that are associated with the drug in the
dosage range to be prescribed; and (c) support Registration of such drug. 
 1.101 “Primary Field”
means human pharmaceutical use for the treatment of cancer. 
 1.102 “Program Target” means each
Target selected for inclusion in the Research Collaboration. For purposes of clarity, the term Program Target shall mean (a) the Initial Target; (b) any [***] Target with respect to which KHK exercises its [***] Option; (c) [***]; (d)
[***]; and (e) [***]. 
 1.103 “Program Technology” means any Know-How (including any new and
useful process, method of manufacture or composition of matter) or Proprietary Material that is conceived and first reduced to practice (actually or constructively), whether or not patentable, by employees of, or consultants to, either Party or
jointly by both Parties, in the conduct of the Research Collaboration or in connection with the development or commercialization of Research Compounds and/or Licensed Products. 

1.104 “Proprietary Materials” means tangible chemical, biological or physical materials (a) that are furnished by
or on behalf of one Party to the other Party in connection with this Agreement, whether or not specifically designated as proprietary by the transferring Party or (b) that are otherwise conceived or reduced to practice in the conduct of the
Research Collaboration. 
 1.105 “Royalty Term” shall have the meaning set forth in Section 7.6. 

1.106 “Registration” means, with respect to a Licensed Product, (a) in the United States, approval by the FDA of
an NDA, or similar application for marketing approval, and satisfaction of any related applicable FDA registration and notification requirements (if any), and (b) in any country or region other than the United States, approval by any Regulatory

  
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Authority having jurisdiction over such country or region of a single application or set of applications comparable to an NDA and satisfaction of any related applicable regulatory and
notification requirements, if any, together with any other approval necessary to make and sell pharmaceuticals commercially in such country or region. For purposes of clarity, “Registration” in the United States means
approval of an NDA permitting marketing of the applicable Licensed Product in interstate commerce in the United States, “Registration” in the European Union means marketing authorization for the applicable Licensed Product
pursuant to Council Directive 2001/83/EC, as amended, or Council Regulation 2309/93/EEC, as amended and “Registration” in Japan means final approval of an application submitted to the Ministry of Health, Labor and Welfare
(“MHW”) and the publication of a New Drug Approval Information Package permitting marketing of the applicable Licensed Product in Japan, as any of the foregoing may be amended from time to time. 

1.107 “Regulatory Authority” means the FDA, or any counterpart of the FDA outside the United States, or any other
national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity with authority over the distribution, importation, exportation, manufacture, production, use, storage,
transport, clinical testing or sale of a Licensed Product. 
 1.108 “Research Collaboration” means the program of
research and development of Research Compounds initially for the Initial Target, and if elected by KHK, also for the [***] Targets and [***] Targets [***] as set forth in this Agreement and the Research Collaboration Plan. 

1.109 “Research Collaboration Plan” means each written plan (a) describing the research activities to be carried
out by the Parties during the Research Collaboration Term in conducting the Research Collaboration pursuant to this Agreement, and (b) setting forth all Criteria applicable to each Research Compound that is part of such Research Collaboration.

 1.110 “Research Collaboration Term” shall have the meaning set forth in Section 3.3. 

1.111 “Research Compound” means any DsiRNA-Based Compound that is directed against a Program Target and that is
selected for optimization by KHK as an RNA interference therapeutic molecule as part of the Research Collaboration; provided, that, no DsiRNA-Based Compound shall, after becoming a Waived Compound, be designated or nominated as a Research Compound.

 1.112 “Secondary Field” means human pharmaceutical use for the treatment of [***]. 

  
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 1.113 “Serious Adverse Event” means any untoward medical occurrences
that, at any dose, results in death, is life-threatening, requires inpatient hospitalization or prolongation of existing hospitalization, results in persistent or significant disability/incapacity, or is a congenital anomaly or birth defect. 

1.114 “Sublicensee” means any Third Party or Affiliate to whom KHK grants a sublicense of some or all of the rights
granted to KHK under this Agreement pursuant to Section 6.2 hereof. 
 1.115 “[***]” shall have the meaning set forth in
Section 4.1(b)(ii). 
 1.116 “[***]” shall have the meaning set forth in section 4.1(b)(ii). 

1.117 “Target” means a specific gene and its encoded protein. 

1.118 “Territory” means worldwide. 

1.119 “Third Party” means any Party, other than KHK or DICERNA and their respective Affiliates. 

1.120 “Third Party DDS Technology” means any DDS Technology that is owned or controlled by one or more Third Parties
[***]. 
 1.121 “Unanimous Decision” means any of the following matters requiring the unanimous approval of both KHK
and DICERNA: [***]. 
 1.122 “Valid Claim” means any claim in a pending patent application or an issued and
unexpired patent which has not been held unenforceable, unpatentable or invalid by a decision of a court or other governmental agency of competent jurisdiction following exhaustion of all possible appeal processes and which has not been admitted to
be invalid or unenforceable through reissue, reexamination or disclaimer, or otherwise. 
 1.123 “Waived
Compound” means any compound which was once a Research Compound and which is directed against a particular Waived Target. For purposes of clarity, a Research Compound that is directed against a particular Waived Target and is
also directed against any Program Target shall remain a Research Compound until such time as that Program Target becomes a Waived Target. 

1.124 “Waived Target” means any Target that becomes a Waived Target pursuant to Sections 4.1 (a)(ii),
4.1(b)(ii) or 4.1(c)(ii). 

  
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 ARTICLE 2 

COLLABORATION OVERVIEW AND GOVERNANCE 

2.1 The Research Collaboration. DICERNA and KHK agree to undertake the Research Collaboration during the Research
Collaboration Term under the terms and conditions set forth in this Agreement. 
 2.2 Research Collaboration
Goals. The goal of the Parties with respect to the Research Collaboration shall be [***]. The Parties hereby agree that [***].  

2.3 Governance – Joint Steering Committee. 

2.3.1 Establishment. The JSC shall be a forum for the Parties to hold discussions and exchange views regarding the
strategic direction and overall management of the Research Collaboration. The JSC shall consist of [***]. The JSC may name additional members to the JSC from time to time so long as [***]. Each Party will designate a member who will be the primary
contact on the JSC for that Party. Not later than thirty (30) days from the Effective Date (a) DICERNA and KHK shall establish the JSC and (b) each Party shall provide the other with a list of its initial members of the JSC. Not later
than sixty (60) days after the Effective Date, the JSC shall hold an initial organizational meeting. Either Party can change its members on the JSC by written notice to the other Party. 

2.3.2 Joint Steering Committee Meetings. The JSC shall establish a schedule of times for regular meetings; provided, that,
during the Research Collaboration Term the JSC shall meet at least once every [***]. In addition, the JSC may meet on an ad hoc basis on not less than [***] notice (if the meeting is to be conducted in person) or [***] notice (if the meeting is
conducted by teleconference). The Parties shall mutually agree upon the times and places for such meetings, alternating between Watertown, Massachusetts and Tokyo, Japan, or such other location as members of the JSC shall agree. Each Party shall
bear its own costs associated with holding and attending such meetings. If mutually agreed by the Parties, such meetings may be held by videoconference or teleconference. An agenda shall be agreed upon by the JSC members and be distributed to the
Parties by the hosting Party no less than [***] before any meeting. If a representative of a Party on the JSC is unable to attend a meeting of the JSC, such Party may designate an alternate to attend such meeting and vote on behalf of such missing
representative. In addition, each Party may, at its discretion and upon written notice to the other Party, invite nonvoting employees, consultants or advisors (which consultants and advisors shall be under an obligation of confidentiality no less
stringent than those terms set forth herein) to attend any meeting of the JSC. Minutes shall be kept of all JSC meetings by the hosting Party and sent to all members of the JSC for review and approval

  
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within [***] after each meeting. Minutes shall be deemed approved unless any member of the JSC objects to the accuracy of such minutes by providing written notice to the hosting Party within
[***] of receipt of the minutes; provided, that, in the event of any such objection by a Party that the Parties are unable to resolve, such minutes shall simply reflect such unresolved differences of opinion. 

2.3.3 Joint Steering Committee Responsibilities. The JSC shall, during the Research Collaboration Term, have the
following responsibilities: 
 (a) discussing whether or not to [***] and discussing the allocation between the Parties of the
responsibility for paying any consideration to [***] in connection with such [***], taking into consideration the respective rights of each Party in such [***] DDS Technology; 

(b) periodically reviewing the progress and results of the Research Collaboration to ensure that the Parties are meeting their commitments
for both human and financial support and are each fulfilling all of their respective diligence and other contractual obligations under this Agreement; 

(c) attempting to resolve any disagreements between the Parties with respect to the research conducted under the Research Collaboration,
including any disagreements referred to it by the JRC and any other committee formed by the JSC; 
 (d) reviewing and monitoring all
results of the work performed under the Research Collaboration, including the scientific efforts of both Parties; 
 (e) reviewing and
discussing the Research Collaboration Plans; and 
 (f) discussing such other matters as may be delegated to the JSC pursuant to this
Agreement or by mutual written agreement of the Parties during the Research Collaboration Term. 
 2.3.4 Joint Steering Committee
Decisions. At each JSC meeting, (a) the presence in person of at least [***] shall constitute a quorum and (b) the members of a Party shall have one (1) collective vote on all matters before the JSC at such
meeting. All decisions of the JSC shall be made by unanimous vote. Whenever any action by the JSC is called for hereunder during a time period in which the JSC is not scheduled to meet, any member may cause the JSC to take the action in the
requested time period by calling a special meeting or by circulating a written consent. If the JSC is unable to reach a unanimous vote on any matter, including any matters referred to it for resolution by the JRC (each a “Disputed
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shall have the right to make the final decision on such Disputed Matter in its sole discretion, provided, that, if the Disputed Matter constitutes a Unanimous Decision, the Disputed Matter shall
be resolved in accordance with Section 13.5. 
 2.3.5 Expiration of Research Collaboration Term. At the expiration
of the Research Collaboration Term, the JSC shall be disbanded and the Parties shall communicate directly with each other with respect to the activities contemplated by this Agreement in such manner as is reasonable and practical, including by
having periodic telephonic and face-to-face meetings as necessary. 
 2.4 Governance – Joint Research
Committee. 
 2.4.1 Establishment. The day to day, working level communications, planning and handling
of practical adjustments of the Research Collaboration shall be performed by the JRC, comprised of equal representation from KHK and DICERNA. The JRC shall consist of [***]. The JRC may name additional members to the JRC from time to time so long as
[***]. Each Party will designate a member who will be the primary contact on the JRC for that Party. Not later than thirty (30) days from the Effective Date (a) DICERNA and KHK shall establish the JRC and (b) each Party shall provide
the other with a list of its initial members of the JRC. Not later than sixty (60) days after the Effective Date, the JRC shall hold an organizational meeting to establish the operational requirements for the JRC. Either Party can change its
members on the JRC by written notice to the other Party.  
 2.4.2 Joint Research Committee Meetings. The JRC
shall establish a schedule of times for regular meetings, taking into account, without limitation, the planning needs of the Research Collaboration and the responsibilities of the JRC; provided, that, during the Research Collaboration Term, the JRC
shall meet at least every [***]. In addition, the JRC may meet on an ad hoc basis on not less than [***] notice (if the meeting is to be conducted in person) or [***] notice (if the meeting is conducted by teleconference). The Parties shall mutually
agree upon the times and places for such meetings, alternating between Watertown, Massachusetts and Tokyo, Japan, or such other location as members of the JRC shall agree. Each Party shall bear its own costs associated with holding and attending
such meetings. If mutually agreed by the Parties, such meetings may be held by videoconference or teleconference. An agenda shall be agreed upon by the JRC members and be distributed to the Parties by the hosting Party no less than [***] before any
meeting. If a representative of a Party on the JRC is unable to attend a meeting of the JRC, such Party may designate an alternate to attend such meeting and vote on behalf of such missing representative. In addition, each Party may, at its
discretion and upon written notice to the other Party, invite nonvoting employees, consultants or advisors (which consultants and advisors shall be under an obligation of  

  
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confidentiality no less stringent than those terms set forth herein) to attend any meeting of the JRC. Minutes shall be kept of all JRC meetings by the hosting Party and sent to all members of
the JRC for review and approval within [***] after each meeting. Minutes shall be deemed approved unless any member of the JRC objects to the accuracy of such minutes by providing written notice to the hosting Party within [***] of receipt of the
minutes; provided, that, in the event of any such objection by a Party that the Parties are unable to resolve, such minutes shall simply reflect such unresolved differences of opinion. 

2.4.3 Joint Research Committee Responsibilities. The JRC shall have the following responsibilities: 

(a) monitoring the progress of the Research Collaboration and of the conduct by the Parties of all research activities thereunder; 

(b) providing a forum for consensual discussion with respect to the Research Collaboration and of the conduct by the Parties of all research
activities thereunder with the goal of having one or more Research Compounds achieve the applicable Criteria; 
 (c) reviewing data,
reports or other information submitted by the Parties with respect to work conducted in the Research Collaboration; and 
 (d) discussing
such other matters as appropriate with respect to the Research Collaboration during the Research Collaboration Term. 
 2.4.4
Joint Research Committee Decisions. At each JRC meeting, (a) the presence in person of at least [***] shall constitute a quorum and (b) the representatives of a Party shall have one (1) collective vote on all
matters before the JRC at such meeting. All decisions of the JRC, shall be made by unanimous vote. If the JRC is unable to reach a unanimous vote on any matter, the matter shall be referred to the JSC for resolution pursuant to Section 2.3.4.

 2.5 Expiration of Research Collaboration Term. At the expiration of the Research Collaboration Term, the JRC shall be
disbanded and the Parties shall communicate directly with each other with respect to the activities contemplated by this Agreement in such manner as is reasonable and practical, including by having periodic telephonic and face-to-face meetings as
necessary. 
 2.6 Alliance Managers. Each Party shall have the right, but not the obligation, to appoint a person who shall
oversee interactions between the Parties for all matters related to the Research Collaboration and/or the development and commercialization of Research 

  
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Compounds and Licensed Products (each, an “Alliance Manager”). The Alliance Managers shall have the right to attend all meetings of the JSC and JRC as non-voting
participants and may bring to the attention of the Parties any matters or issues either of them reasonably believes should be discussed and shall have such other responsibilities as the Parties may mutually agree in writing. Each Party may replace
its Alliance Manager at any time or may designate different Alliance Managers by notice in writing to the other Party.  
 2.7
Appointment Not an Obligation. The appointment of any members of a committee and any Alliance Manager is a right of each Party and not an obligation and shall not be a “deliverable” as defined in EITF Issue No. 00-21. Each
Party shall be free to determine not to appoint members of any committee and not to appoint an Alliance Manager. If a Party does not appoint members of a committee and/or an Alliance Manager, it shall not be a breach of this Agreement, nor shall any
consideration be required to be returned. 
 ARTICLE 3 

THE RESEARCH COLLABORATION 

3.1 Overview of Research Collaboration. DICERNA and KHK shall use Commercially Reasonable Efforts to conduct the Research
Collaboration, focused on the goals set forth in Section 2.2, in accordance with the Research Collaboration Plan or as otherwise agreed by the Parties.  

3.2 [***] DDS Technology. The Parties shall discuss whether or not to [***]. For purposes of clarity, the respective
rights of each Party in [***]. If the Parties are unable to agree whether or not to [***]. 
 3.3 Research Collaboration
Term. 
 3.3.1 Research Collaboration Term. The Research Collaboration for the Initial Target shall commence on
the Effective Date and continue, unless earlier terminated by the Parties, until [***] from the Effective Date unless extended by KHK and reasonably agreed by DICERNA (the “Research Collaboration
Term”); provided, that, if any [***] Target or [***] Target that is a Program Target is part of ongoing activities being conducted in the Research Collaboration as set forth in the applicable Research Collaboration
Plan which are not completed on or before the expiration of such [***] period, the Research Collaboration Term with respect to such [***] Target or [***] Target shall be extended, unless earlier terminated by the Parties, for a period to be
reasonably agreed by the Parties not to exceed [***] from the date of the applicable [***] Target Exercise Notice or the date of exercise of such [***] Right, as the case may be, but no later than the completion of the applicable research activities
or achievement of the applicable Lead Transfer Milestone.  

  
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 3.3.2 Extended Research Term. The Research Collaboration for any [***]
Targets and any [***] Targets that are Program Targets shall commence on the date of payment by KHK of the applicable [***] set forth in Section 7.2.5 and, with respect to any [***] Target that replaces the Initial Target pursuant to
Section 4.1(a)(ii), as the date of such replacement and in each such case continue, unless earlier terminated by the Parties, for a period of [***], unless otherwise reasonably agreed by the Parties, but no later than the completion of such
research activities or achievement of the applicable Lead Transfer Milestone. 
 3.4 Research Collaboration Plans. The
Research Collaboration Plan for the Initial Target has been prepared by the Parties and attached hereto as Exhibit A. An update of such Research Collaboration Plan, and Research Collaboration Plans for each other Program Target, shall be
prepared by, or at the direction of, the Parties and submitted to the JSC for its approval. 
 3.5 Funding; Costs of
Manufacture. 
 3.5.1 Funding. During the Research Collaboration Term, KHK will provide research funding to DICERNA
for the discovery, characterization and testing of Research Compounds based on the Research Collaboration Plan prepared for the Initial Target. In consideration of the conduct by DICERNA of such research activities, KHK shall pay to DICERNA [***];
provided, that, in the event KHK terminates the Research Collaboration for the Initial Target, (i) KHK shall have no obligation to provide the research funding beyond such date of termination and (ii) DICERNA shall continue to have the
obligation to provide research for the discovery, characterization and testing of Research Compounds for any Program Targets other than the Initial Target in accordance with the applicable Research Collaboration Plan with no additional funding from
KHK, but except as otherwise agreed by the Parties, shall have no obligation beyond such activities and Program Targets. Notwithstanding the foregoing, if KHK replaces the Initial Target with an [***] Target as provided in Section 4.1(b)(ii),
KHK shall continue to pay DICERNA the research funding in accordance with this Section 3.5.1 with respect to such replacement Target but each payment of (a) (b) (c) shall not be paid more than one time in any event. 

3.5.2 Manufacturing Costs. 

(a) DICERNA, at its sole cost, shall manufacture or obtain DsiRNA-Based Compound for the conduct of the Research Collaboration for the
Initial Target 

  
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in the quantities described in the Research Collaboration Plan attached as Exhibit A; provided, that, such quantities shall not exceed the quantity of such DsiRNA-Based Compound specified
in Exhibit A. To the extent DICERNA’s cost to manufacture or obtain such materials exceeds $[***] USD ([***] dollars), DICERNA shall provide KHK with written notice, together with records which show such cost to manufacture or to obtain
the materials from a CMO (in such case an invoice from the CMO), and KHK shall pay DICERNA a transfer price for such materials manufactured or obtained by DICERNA on and after such date equal to [***]. 

(b) DICERNA shall manufacture or obtain all DsiRNA-Based Compound for the conduct of the Research Collaboration for each Program Target
(including, in the event Initial Target is replaced with an [***] Target, such [***] Target) other than Initial Target in the quantities mutually agreed by the Parties which shall be described in the Research Collaboration Plan for such Program
Target. To the extent DICERNA’s cost to manufacture or obtain such materials exceeds $[***] USD ([***] dollars), DICERNA shall provide KHK with written notice, together with records which show such cost to manufacture or to obtain the materials
from a CMO (in such case an invoice from the CMO), and KHK shall pay DICERNA a transfer price for such materials manufactured or obtained by DICERNA on and after such date equal to [***]. 

3.6 Conduct of Research Collaboration. 

3.6.1 Responsibilities of the Parties. During the Research Collaboration Term, each Party shall use Commercially
Reasonable Efforts to conduct the research activities for which it is responsible in accordance with the applicable Research Collaboration Plan. Without limiting the foregoing, (i) DICERNA shall be solely responsible for the identification,
preparation and characterization of Research Compounds meeting the In Vitro Criteria and In Vivo Criteria and (ii) the Parties shall both be responsible for optimizing Research Compounds until the
selection of an appropriate DDS Technology is determined and the appropriate DDS Technology performance for each Program Target is confirmed.  

3.6.2 Research Collaboration Staffing. KHK and DICERNA employees involved in the Research Collaboration will conduct the
research activities in a manner as required to maintain progress on the objectives of the Research Collaboration as set forth herein and in the Research Collaboration Plan. To achieve these objectives, KHK and DICERNA will assign qualified employees
to conduct such research activities. Each Party shall bear the travel, lodging and meal expenses of any of its employees who visit the other Party’s facilities in connection with the Research Collaboration and shall not be reimbursed by the
other Party for any such expenses. 

  
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 3.6.3 Subcontracting. Either Party may subcontract to a Third Party any portion
of the activities assigned to it under the Research Collaboration Plan; provided, that, (a) KHK or DICERNA, as applicable, obtains a written agreement with such Third Party containing appropriate confidentiality and non-use provisions and
written assignments to KHK or DICERNA, as applicable, of all Patent Rights and Know-How that such subcontractors may develop by reason of work performed under such contract and (b) any Third Party subcontractor is required to perform its
services in accordance with any applicable generally accepted professional standards, including regulatory standards, as well as standards designated by the JRC or JSC (if any) and any Applicable Laws. 

3.6.4 Staff Availability. Each Party shall require its employees and permitted subcontractors engaged in the Research
Collaboration to be reasonably available upon reasonable notice during normal business hours at their respective places of employment to consult with the other Party on issues arising during Research Collaboration and in connection with any request
from any regulatory agency, including those relating to regulatory, scientific, and technical issues. 
 3.6.5 Facility
Visits. Representatives of KHK and DICERNA may, upon reasonable advance notice and during normal business hours, visit the facilities where the Research Collaboration work is being conducted. 

3.6.6 Exchange of Information. Subject to the terms of this Agreement and any confidentiality obligations to Third Parties, each
Party will promptly make available and disclose to the other Party such information regarding Research Compounds, Program Targets, DDS Technology and other information generated in carrying out the Research Collaboration as set forth in the Research
Collaboration Plan. All Program Technology conceived or reduced to practice in the course of the Research Collaboration by a Party will be promptly disclosed to the other Party. At a Party’s request, the other Party will provide written reports
of any studies performed by such other Party as part of the Research Collaboration required to support regulatory submissions relating to Licensed Products to be made by such requesting Party or its sublicensees without any compensation and will
allow such requesting Party and its sublicensees to use the data included in such reports to support such submissions. The Parties shall use reasonable efforts to communicate often by telephone, electronic mail or other mechanisms to keep each Party
fully advised of the activities being carried out by a Party under the Research Collaboration. 
 3.6.7 Reports. Without
limiting the generality of the foregoing, each Party shall, at least once each [***] during the Research Collaboration Term, provide reports to the JRC in reasonable detail regarding the status of its activities under the Research Collaboration and
such additional information that it has in its possession as may be reasonably requested from time to time by the JRC. 

  
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 3.6.8 Records. KHK and DICERNA will each maintain records in sufficient
detail and in good scientific and business manner appropriate for purposes such as patent and regulatory matters, which records will be complete and accurate and will fully and properly reflect all work done and results achieved in the performance
of the Research Collaboration, including prompt signing and corroboration of laboratory notebooks and conception documents. 
 3.6.9
Compliance. All research activities conducted in connection with the Research Collaboration shall be carried out in compliance with any Applicable Laws governing the conduct of research at the site where such activities are being
conducted. Without limiting the foregoing, all animals involved in the Research Collaboration shall be provided humane care and treatment in accordance with generally acceptable current veterinary practices. 

3.7 [***] Technology Transfer. To the extent necessary for the conduct of the Research Collaboration by DICERNA, KHK
shall, at its sole cost and expense, provide such disclosure to DICERNA of the KHK [***] DDS Technology and such technical advice or assistance related thereto as KHK reasonably determines to be reasonably necessary. 

3.8 Independent DDS Technology. 

3.8.1 KHK Rights. In the event that KHK conducts research during the Term involving the application of any Independent DDS
Technology Controlled by it to any DsiRNA-Based Compound for any Program Target outside the Research Collaboration, it may select, at its sole discretion, such DsiRNA-Based Compound (combined with such Independent DDS Technology) as a Research
Compound by providing written notice to DICERNA. 
 3.8.2 DICERNA Rights. In the event that DICERNA conducts research during
the Term involving the use of any Independent DDS Technology Controlled by it to any DsiRNA-Based Compound for any Target, DICERNA may, at its sole discretion and at any time during the Research Collaboration Term, include any such Independent DDS
Technology as DICERNA Background DDS Technology at no additional consideration payable by KHK. Provided, however, in the event DICERNA conducts the research for any Program Target, whether or not DICERNA intends to include such Independent DDS
Technology into the DICERNA Background DDS Technology, DICERNA shall report to KHK the progress and result of such research from time to time and shall not disclose to any Third Party any information or data generated from such research without a
prior written consent of KHK. 

  
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 3.9 Research Collaboration Exclusivity. During the Research
Collaboration Term, neither DICERNA nor KHK will develop or commercialize any siRNA compound for any Program Target for use in the Secondary Field in the Territory, whether internally developed by such Party or in-licensed from, or out-licensed to,
any Third Party, outside of this Agreement. 
 ARTICLE 4 

SELECTION OF PROGRAM TARGETS; OPTION RIGHTS 

4.1 Selection of Program Targets. 

(a) Initial Target. 

(i) The Parties hereby acknowledge and agree that the Initial Target has been designated by the Parties as a Program Target as of the
Effective Date for the Primary Field and is listed as such on the Program Target List attached hereto as Schedule 5-A. KHK shall have the right, at its sole discretion and at any time during the Research Collaboration Term, based on the
Development Criteria and the results of the Research Collaboration, to determine to proceed with further research and development of Research Compounds with respect to the Initial Target by providing written notice to DICERNA and paying the Initial
Target Option Payment (the “Initial Target Option Right”). [***] 
 (ii) If at any time after the date of payment
of the Upfront Payments and continuing for the remainder of the Research Collaboration Term for the Initial Target, KHK determines, after consultation with its internal patent counsel, that the DICERNA Background Patent Rights that cover the Initial
Target are reasonably likely to fail to provide KHK with the freedom to operate necessary for KHK to develop and commercialize DsRNAi-Based Compounds against such Initial Target, KHK shall provide DICERNA with a written notice of such decision, and
KHK shall have the one-time right to replace that Initial Target with one (1) [***] Target listed on the [***] Target List, at its sole discretion. Upon written notice by KHK to DICERNA of KHK’s decision to make such replacement,
(A) KRAS shall be deemed to be a Waived Target, and (B) the replacement [***] Target shall be deemed to be the Initial Target for purposes of this Agreement. For purposes of clarity, any Initial Target Option Payment or [***] previously
paid by KHK for the Initial Target that is replaced by an [***] Target under this Section 4.1(a)(ii) shall not be payable for such replaced Target; provided, that, all unpaid future milestones shall remain due and payable for such replaced
Target. 

  
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 (b) [***] Targets. 

(i) Exercise of Rights to [***] Targets. The Parties hereby acknowledge and agree that [***] Targets, as listed
on the [***] Target List attached hereto as Schedule 5-B, have been so designated by the Parties as of the Effective Date (each, an “[***] Target”). During the period commencing on the Effective Date and continuing for
a period of [***] (the “[***] Target Period”), KHK shall have the [***] (the “[***] Option”) to designate any [***] Target as a Program Target by providing written notice to DICERNA, which notice shall
identify the [***] Target (the “[***] Target Exercise Notice”). Upon receipt by DICERNA of an [***] Target Exercise Notice and payment of the applicable fees, the Parties shall promptly amend Schedule 5-A to include
such [***] Target as a Program Target and such [***] Target shall be a Program Target for purposes of this Agreement. [***]. 
 (ii) [***].
[***]. 
 (c) Additional Targets. 

(i) Additional Target Option Period. During the period commencing on the Effective Date and continuing for a period of [***] (the
“Additional Target Option Period”), KHK shall have the right to request that up to [***] additional Targets (the “Additional Targets”) be included in the Research Collaboration as [***]
Targets by providing written notice to DICERNA, which notice shall identify each such Additional Target (each, an “Additional Target Notice”). [***] 

(ii) [***]. [***]. 
 (iii)
Limitation on Number of [***] Targets. Notwithstanding anything to the contrary in this Agreement, under no circumstances shall KHK have, at any one time, more than [***] Targets on the [***] Target List. 

4.2 Designation of Research Compounds. KHK shall have the sole right, in its sole discretion, by providing written notice
to DICERNA at any time on or before the expiration of the Research Collaboration Term, to (a) designate any DsiRNA-Based Compound as a Research Compound, and (b) determine in its sole discretion not to continue the development and
commercialization of any Research Compound against a Program Target. 

  
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 4.3 Supply of Proprietary Materials. From time to time during the
Research Collaboration Term, either Party (the “Transferring Party”) may supply the other Party (the “Recipient Party”) with Proprietary Materials of the Transferring Party
for use in the Research Collaboration. In connection therewith, each Recipient Party hereby agrees that (a) it shall not use such Proprietary Materials for any purpose other than exercising its rights or performing its obligations under this
Agreement; (b) it shall use such Proprietary Materials only in compliance with all Applicable Laws; (c) it shall not transfer any such Proprietary Materials to any Third Party without the prior written consent of the Transferring Party,
except as expressly permitted by this Agreement; (d) the Recipient Party shall not acquire any right, title or interest in or to such Proprietary Materials as a result of such supply by the Transferring Party; and (e) upon the expiration
or termination of the Research Collaboration Term, the Recipient Party shall, if and as instructed by the Transferring Party, either destroy or return any such Proprietary Materials that are not the subject of the grant of a continuing license
hereunder. 
 ARTICLE 5 

DEVELOPMENT, COMMERCIALIZATION, 

MANUFACTURING AND SUPPLY 

5.1 KHK Development Responsibility. Except for the conduct by DICERNA of Co-Promotion Activities with respect to Co-Promoted
Products pursuant to a Co-Promotion Agreement, on and after the date of exercise by KHK of the Initial Target Option Right, or the payment of any Lead Transfer Milestone for any [***] Target(s) or [***] Target(s), as the case may be, KHK shall be
solely responsible for (a) the conduct of all development, clinical development, manufacturing, regulatory and commercial activities related to Research Compounds and Licensed Products in the Field and in the Territory and (b) for the
conduct of all regulatory activities for the Licensed Products in the Territory, including making all regulatory filings applicable thereto and will own all Registrations applicable thereto in the Territory. 

5.2 Registrations. KHK (either directly or through any Affiliate or Sublicensee) shall have the right to apply for and shall own
all Registrations for Licensed Products in any country of the Territory that it chooses. KHK agrees to use Commercially Reasonable Efforts to obtain (either directly or through an Affiliate or Sublicensee) Registrations in each Major Market Country.
If KHK does not seek Registration in any country that is not a Major Market Country and DICERNA believes that such country has a sufficient potential market for the Licensed Product to be worthy of Registration, DICERNA shall provide KHK with
written notice and KHK shall be required to explain to DICERNA the reasons behind KHK’s decision not to seek Registration in such country. 

  
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 5.3 Development and Commercialization Plans. KHK shall prepare, and submit to
DICERNA for its review, a development and commercialization plan for each Licensed Product to be developed and/or commercialized by KHK under this Agreement (each, a “Development and Commercialization Plan”)
within [***] after the designation by KHK of such Licensed Product and, in any event, prior to the initiation of development activities with respect to such Licensed Product. Thereafter, for each [***] during the Term, KHK shall provide DICERNA with
updates with respect to all significant development decisions made and actions taken by KHK with respect to such Development and Commercialization Plan. 

5.4 Manufacturing. KHK shall have the sole right and responsibility, at its sole cost and expense, for all aspects of the
manufacture and supply of the Licensed Products in the Territory; provided, that, (a) KHK shall keep DICERNA informed as to its manufacturing strategies and the progress made with respect thereto, and (b) if requested in writing by KHK,
DICERNA shall reasonably collaborate with KHK or its designated party, at KHK’s sole cost and expense, to the extent that technology transfer is required to manufacture the Licensed Products. KHK shall have the right to use CMOs and/or
analytical laboratories, at its sole discretion, to fulfill its responsibilities for the manufacture and supply of the Licensed Products in the Territory. 

5.5 Development and Commercialization Diligence. KHK shall exercise Commercially Reasonable Efforts to develop each Licensed
Product in the Field in the Territory, using the level of resources and effort which (a) are necessary to meet the timetable set forth in the Development and Commercialization Plan applicable to such Licensed Product and (b) are at a level
that is consistent with those which it would apply to a product of comparable potential resulting from its own programs. KHK will keep DICERNA reasonably informed concerning the status of its development and commercialization of each Licensed
Product. 
 5.6 Compliance. KHK shall perform its obligations under each Development and Commercialization Plan in good
scientific manner and in compliance with all Applicable Laws. 
 5.7 Reports; Information; Updates. 

(a) Development Reports. KHK shall keep DICERNA regularly informed of the progress of its efforts to develop Licensed Products in the
Field in the Territory. Without limiting the generality of the foregoing, KHK shall, at least once each [***], provide DICERNA with reports in reasonable detail regarding the status of all preclinical IND-enabling studies and activities (including
toxicology and pharmacokinetic studies), 

  
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clinical trials and other activities conducted and such additional information that they have in their possession as may be reasonably requested from time to time by DICERNA; provided, that, for
so long as DICERNA has in effect a Co-Promotion Option with respect to a Licensed Product, such reports shall include a summary of all Development Costs incurred by KHK over such [***]. 

(b) Commercialization Reports. KHK shall keep DICERNA regularly informed of the progress of KHK’s efforts to commercialize
Licensed Products in the Field in the Territory through periodic updates. Without limiting the generality of the foregoing, on and after the initiation by KHK of a Phase III Clinical Trial with respect to a Licensed Product, KHK shall provide
DICERNA with [***] written updates to each Development and Commercialization Plan, which shall identify the Drug Approval Applications with respect to such Licensed Product that KHK or any of its Affiliates or Sublicensees have filed, sought or
obtained in the prior [***] period or reasonably expect to make, seek or attempt to obtain in the following [***] period. In addition, KHK shall provide such additional information that it has in its possession as may be reasonably requested by
DICERNA regarding the commercialization of any Licensed Product, which request shall not be made more than once each [***]. 
 5.8
Adverse Event Reporting. In addition to the updates described in Section 5.7, KHK shall promptly provide DICERNA with (a) all Serious Adverse Event information relating to Licensed Products as such information is compiled or
prepared by KHK in connection with the development or commercialization of any Licensed Product and, (b) copies of Periodic Safety Update Reports (Volume 9E of the Rule Covering Medical Product in the EU). 

5.9 Co-Promotion Option. 

(a) Notice by KHK. KHK shall give DICERNA written notice of its intent to submit an NDA to the FDA with respect to each Licensed
Product for the Initial Target at least [***] prior to the anticipated date of such submission (each, an “NDA Submission Notice”), which NDA Submission Notice shall include a written report setting forth in reasonable detail
all Development Costs incurred by KHK with respect to such Licensed Product through the date of the NDA Submission Notice. Following its receipt of the NDA Submission Notice, DICERNA shall have the right, upon written notice, to review all Drug
Approval Applications prepared for such Licensed Product for the Initial Target, including the NDA, and all correspondence submitted or received with respect to such Licensed Product, at DICERNA’s sole cost and expense. 

  
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 (b) Exercise of Co-Promotion Option. DICERNA shall have the option (the
“Co-Promotion Option”), but not the obligation, to Co-Promote any Licensed Product for the Initial Target in the Co-Promotion Territory, by, at any time during the Co-Promotion Option Exercise Period applicable to that
Licensed Product (i) providing written notice to KHK (the “Co-Promotion Option Notice”), which notice shall specify the applicable Licensed Product and (ii) paying KHK the Co-Promotion Option Exercise Payment
applicable thereto. If DICERNA exercises a Co-Promotion Option with respect to a Licensed Product as described in this Section 5.9(b), such Licensed Product will thereafter be deemed to be a Co-Promoted Product for purposes of this Agreement
and the following provisions shall thereafter apply: 
 (i) the Parties shall promptly negotiate and execute a Co-Promotion Agreement for
such Co-Promoted Product in accordance with Section 5.9(c); 
 (ii) each Party shall share in the responsibility for the conduct of
Co-Promotion activities with respect to such Co-Promoted Product in the Co-Promotion Territory in accordance with the Co-Promotion Agreement; and 

(iii) KHK shall not pay to DICERNA any royalties for the Net Sales of such Licensed Product in the Co-Promotion Territory; provided, that,
DICERNA shall receive a 50:50 cost and profit sharing in lieu thereof, in accordance with the provisions as shall be set forth in the Co-Promotion Agreement. 

(c) Co-Promotion Agreement; Co-Promotion Plan. Within [***] of the date of exercise by DICERNA of a Co-Promotion Option, the Parties
shall (i) negotiate and execute a Co-Promotion Agreement (the “Co-Promotion Agreement”) which shall provide for the terms applicable to such Co-Promotion and (ii) prepare a marketing and sales plan (the
“Co-Promotion Plan”) for each Co-Promoted Product for the Co-Promotion Territory incorporating the terms set forth in the term sheet attached as Schedule 7, and with all other details and matters determined by mutual
good faith discussions and agreement of the Parties. In the event the Parties fail to execute and deliver the Co-Promotion Agreement within such [***], the Parties shall each produce a list of issues on which they have failed to reach agreement and
submit its list to be resolved in accordance with Section 13.5. 
 ARTICLE 6 

GRANT OF LICENSE RIGHTS 

6.1 License to KHK. DICERNA hereby grants to KHK and its Affiliates a royalty-bearing license to (a) DICERNA Background
Dicer Substrate Patent Rights, DICERNA Background Dicer Substrate Technology, DICERNA Program Patent Rights, 

  
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DICERNA Program Technology, DICERNA KRAS-Specific Patents and DICERNA’s interest in Joint Technology and Joint Patent Rights and (b) to DICERNA Background DDS Patent Rights and DICERNA
Background DDS Technology, solely to the extent such DICERNA Background DDS Patent Rights (the Patent Rights described in (a) and (b) above being referred to collectively as the “DICERNA Patent Rights”) and such
DICERNA Background DDS Technology (the Technology described in (a) and (b) above being referred to collectively as the “DICERNA Technology”) are selected by KHK for a Research Compound or Licensed Product, in any
case, to the extent necessary to research, develop, make, have made, use, offer for sale, sell and import Research Compounds and Licensed Products (i) in the Primary Field (with respect to Research Compounds and Licensed Products for the
Initial Target, subject to the payment of the applicable fee herein), (ii) in the Secondary Field (with respect to Research Compounds and Licensed Products for the Initial Target, subject to the payment by KHK of [***]) and (iii) subject
to the payment by KHK of all applicable payments required under this Agreement, including the payment of the applicable Lead Transfer Milestone, in the Secondary Field (with respect to Research Compounds and Licensed Products for any [***] Target
and [***] Target), in the Territory. Such licenses shall (a) be exclusive for the Initial Target in the Primary Field and in the Secondary Field, subject to the payment by KHK of [***] and exclusive for the [***] Targets and the [***] Targets
in the Secondary Field, other than Waived Targets; provided, that, DICERNA shall, and hereby does, reserve all rights under DICERNA Patent Rights and DICERNA Technology necessary for it to undertake research as part of the Research Collaboration and
to Co-Promote Co-Promoted Products, and (b) include the right for KHK and its Affiliates to grant sublicenses to Third Parties in accordance with Section 6.2. 

6.2 Right to Sublicense. KHK shall have the right to grant sublicenses to Sublicensees under the licenses granted to it
under Section 6.1 with respect to any Research Compounds and/or Licensed Products; provided, that, [***].  
 6.3 License
to DICERNA. KHK hereby grants to DICERNA a non-exclusive, royalty-free license to KHK Background Patent Rights and KHK Program Patent Rights and KHK’s interest in Joint Technology and Joint Patent Rights solely for the purpose of and to
the extent necessary for DICERNA to perform its obligations under this Agreement, including in order for DICERNA to undertake research as part of the Research Collaboration and to Co-Promote Co-Promoted Products; provided, that, the foregoing shall
not include a license to KHK [***] DDS Technology unless such KHK [***] DDS Technology is selected by KHK for a Research Compound. 

  
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 6.4 License Exclusivity. Subject to Section 3.8, during the Term of this
Agreement, neither DICERNA nor KHK will, except as contemplated by this Agreement (a) develop or commercialize any Research Compound or Licensed Product, or any Program Target with respect to which such Research Compound or Licensed Product
interacts, for use in the Secondary Field in the Territory, whether internally developed, in-licensed or out-licensed or (b) develop or commercialize (or cause to be developed or commercialized) any pharmaceutical product with respect to any
Program Target using any DsiRNA-Based Compound (whether or not a Research Compound) for use in the Secondary Field in the Territory, whether internally developed, in-licensed or out-licensed; provided that, the foregoing restrictions shall not apply
to the development or commercialization by DICERNA of Waived Targets (and or Waived Compounds in respect thereof). 
 ARTICLE 7 

FINANCIAL PROVISIONS 

7.1 Upfront Payments. Within [***] of the Effective Date, KHK shall pay to DICERNA (a) a non-refundable,
non-creditable license fee in the amount of $[***] USD ([***] dollars) in consideration of the licenses granted under this Agreement for worldwide exclusive rights to the Initial Target in the Primary Field; and (b) a non-refundable,
non-creditable option fee in the amount of $[***] USD ([***] dollars) in consideration of the [***] Option for [***] [***] Targets (the “Upfront Payments”). Such Upfront Payments
shall be payable by KHK by wire transfer of immediately available funds in accordance with wire transfer instructions of DICERNA provided in writing to KHK prior to the Effective Date. 

7.2 Option Exercise Fees. 

7.2.1 Initial Target Option Right. Within [***] of the exercise by KHK of the Initial Target Option Right with respect to the
Initial Target, KHK shall pay to DICERNA [***] (the “Initial Target Option Payment”). 
 7.2.2 [***]. [***]. 

7.2.3 [***] Target Right. For each [***] Target, within [***] of the exercise by KHK of each [***] Option, KHK shall pay to
DICERNA a non-refundable, non-creditable payment of $[***] USD ([***] dollars) per [***] Target (the [***] Target Payment”). 

7.2.4 Satisfaction of [***] Target Criteria. For each [***] Target of which [***] Option is exercised, KHK shall
pay to DICERNA a non-refundable, non-creditable confirmation fee in the amount of $[***]USD ([***] dollars) per [***] Target within [***] of the date that KHK confirms to KHK’s reasonable satisfaction that the [***] Target meets the In
Vivo Criteria applicable to such [***] Target as set forth in the Research Collaboration Plan (the [***] Target Criteria Satisfaction Payment”). 

7.2.5 [***] Targets. For each [***] Target, within [***] of such [***] Target for designation as a Program Target, KHK shall pay
to DICERNA a non-refundable, non-creditable [***] payment in the amount of $[***] USD ([***] dollars) per [***] Target (the “[***]”). 

  
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 7.3 Lead Transfer Milestone. Within [***] of the confirmation by KHK that the
Research Compound(s) prepared and transferred by DICERNA and selected by KHK meets the Development Criteria for performance of DDS for each [***] Target [***] and [***] Target [***], KHK shall pay to DICERNA a non-refundable, non-creditable payment
in the amount of [***] (“Lead Transfer Milestone”) [***] Target [***] and [***] Target [***]. Regardless of how many different kinds of Licensed Products are developed or commercialized incorporating a
particular [***] Target [***] and [***] Target [***], only one of each Lead Transfer Milestone shall be payable with respect to such [***] Target [***] and [***] Target [***]. [***]. 

7.4 R&D Milestone Payments. 

7.4.1 Milestone Payments. KHK shall pay to DICERNA the following non-refundable, non-creditable cash milestone payments within
[***] of the occurrence of the following events with respect to each Licensed Product for any Program Target: 
  

					
	 Milestone Event (US$ Million)
	  	Amount (US$)	 
		
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 TOTAL
	  	$	[***	] 

 7.4.2 Single Milestone Payment. For purposes of clarity, KHK shall make a milestone payment
corresponding to each of the foregoing milestone events only once per Licensed Product under Section 7.4.1, regardless of the number of times such milestone event occurs for such Licensed Product. 

  
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 7.4.3 Abandoned Licensed Products. In the event that after one or more
milestone payments have been paid with respect to a Licensed Product for a Program Target, KHK abandons development efforts with respect to such Licensed Product and later performs development efforts in respect of the same Program Target using
different Research Compound(s) or by using a new combination of Research Compounds, then any milestone payments already paid for the abandoned Licensed Product in respect of such Program Target need not be paid again when the same milestone is
reached for the Research Compound or Research Compounds developed for the same Program Target. 
 7.4.4 Skipped Milestone
Events. A milestone payment shall be payable for any milestone event which is skipped to reach a subsequent milestone. For example, [***]. 

7.5 Commercial Milestone Payments. KHK shall pay to DICERNA the following non-refundable, non-creditable milestone
payments within [***] from the occurrence of the following events with respect to Licensed Products for any Program Target; provided, that, if DICERNA exercises a Co-Promotion Option with respect to a Co-Promoted Product, the Net Sales attributable
to the Co-Promoted Product in the Co-Promotion Territory shall not be counted for purposes of determining Annual Net Sales for the following milestone events for such Co-Promoted Product:  

 

					
	 Milestone Event
	  	Amount (US$)	 
		
	 [***]
	  	US$	[***	] 
	 [***]
	  	US$	[***	] 
	 [***]
	  	US$	[***	] 
	 TOTAL
	  	US$	[***	] 

 7.6 Royalty Payments. KHK shall pay to DICERNA a tiered royalty on incremental Annual Net Sales
of Licensed Products in the Royalty-Bearing Territory on a Licensed Product-by-Licensed Product and country-by-country basis commencing on the date of First Commercial Sale and continuing until the later to occur of (a) the last to expire of
any Patent Rights licensed hereunder applicable to the manufacture, use or sale of such Licensed Product, or (b) [***] years from the date of First Commercial Sale of such Licensed Product in such country (the “Royalty
Term”). Thereafter, with respect to such Licensed Product in such country, the licenses granted hereunder shall be an irrevocable, paid-up, royalty-free license. In the event DICERNA exercises the Co-Promotion Option for a Licensed
Product, KHK shall 

  
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not pay to DICERNA any royalties for the Net Sales of such Licensed Product in the Co-Promotion Territory; provided, that, DICERNA shall receive a 50:50 cost and profit sharing in lieu thereof,
in accordance with the provisions as shall be set forth in the Co-Promotion Agreement. 
  

					
	 Royalty Tier
	  	Royalty Rate	 
		
	 [***]
	  	 	[***]% ([***] percent	) 
	 [***]
	  	 	[***]% ([***] percent	) 
	 [***]
	  	 	[***]% ([***] percent	) 

 7.7 Royalty Offsets. 

7.7.1 No Valid Claim. If any Licensed Product is sold in a country in the Royalty-Bearing Territory and is not covered or
becomes not covered by a Valid Claim of the DICERNA Patent Rights, KHK Program Patent Rights or Joint Patent Rights in such country, the royalty rates in such country shall be reduced by [***] percent ([***]%) of the rates set forth in
Section 7.6 above; provided, that, in the event the royalty rate on a Licensed Product is reduced in a country under this Section 7.7.1 and is subsequently covered by a Valid Claim under the DICERNA Patent Rights, KHK Program Patent Rights
or Joint Patent Rights in such country, the full royalty rates otherwise applicable under Section 7.6 shall be reinstated for the remainder of the applicable Royalty Term. The Parties hereby acknowledge and agree that any royalties that are
payable for a Licensed Product for which no Valid Claim of Patent Rights exist shall be in consideration of (a) the performance by DICERNA of the Research Collaboration; (b) DICERNA’s expertise and know-how concerning the
identification of Research Compounds in the Field, including its development of the Dicer-Substrate Technology and its other DsiRNA-related activities conducted prior to the Effective Date; (c) the licenses granted to KHK hereunder with respect
to DICERNA Technology and Joint Technology that are not within the claims of any Patent Rights Controlled by DICERNA; (d) the exclusivity restrictions on DICERNA in this Agreement; and (e) the “head start” afforded to KHK by each
of the foregoing. 
 7.7.2 Generic Products. In the event that any Third Party that is not a Sublicensee of KHK sells a
Generic product for use in the Field in any country in the Territory in which a Licensed Product is then being sold by KHK then, during any Calendar Quarter in which sales of the Generic product by such Third Parties are equal to or greater than
[***] in such country for the preceding Calendar Quarter, the applicable royalties in effect with respect 

  
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to such Licensed Product in such country as specified in Section 7.6 above for each Calendar Quarter thereafter shall be reduced by [***] percent ([***]%). In the event that sales of the
Generic product by such Third Parties are equal to or greater than [***] in such country, the applicable royalties in effect with respect to such Licensed Product in such country shall be reduced to an amount equal to [***] percent ([***]%) of the
full royalty rates specified in Section 7.6 above (that is, [***] percent ([***]%) reduction). Notwithstanding the foregoing, (a) KHK’s obligation to pay royalties at the full royalty rates shall be reinstated on the first day of the
Calendar Quarter immediately following the Calendar Quarter in which sales of such Generic Product account for less than [***] in such country and (b) KHK’s obligation to pay royalties at [***] percent ([***]%) of the rates set forth in
Section 7.6 shall be reinstated on the first day of the Calendar Quarter immediately following the Calendar Quarter in which sales of such Generic Product account for more than [***] but less than [***] in such country. 

7.7.3 Combination of No Valid Claim and Generic Products. During such time when a Licensed Product is subject to [***] percent
([***]%) reduction in royalties in a given country pursuant to Section 7.7.1 due to the lack of a Valid Claim in such country, if the same Licensed Product is also subject to [***] percent ([***]%) reduction in royalties pursuant to
Section 7.7.2 due to competition from Generic products in such country, the royalties payable in such country shall in such case be reduced by [***] percent ([***]%) of the full royalty rates otherwise payable under Section 7.6, such that
the amount payable shall be equal to [***] percent ([***]%) of the full royalty rates otherwise payable under Section 7.6. 
 7.7.4
Third Party Payments. The amount of royalties payable to DICERNA under Section 7.6 for any Licensed Product in any country in the Royalty-Bearing Territory shall be reduced by [***] percent ([***]%) of the amount of any royalties
paid by KHK to any Third Party in consideration for the license of Patent Rights in such country if such Patent Rights would be infringed by the inclusion of the Research Compound in the Licensed Product in such country, as evidenced, to the extent
requested by DICERNA, by the written opinion of a neutral patent expert (patent counsel who (and whose firm) is not at the time of the opinion, and was not at any time during the [***] prior to such opinion, performing services for either of the
Parties) reasonably acceptable to DICERNA; provided, that, (a) KHK shall consult with DICERNA prior to entering into any agreement that provides for the payment of such royalties and (b) in no event shall the royalties payable with respect
to a Licensed Product in a country be reduced by more than [***] percent ([***]%) of what would otherwise be due with respect to such Licensed Product. 

7.7.5 Maximum Adjustment of Royalties. Notwithstanding anything to the contrary in this Agreement, under no circumstances shall
the cumulative application of the 

  
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adjustments described in Sections 7.7.1, 7.7.2, 7.7.3, 7.7.4, and 10.7.3 cause the royalty rates in Section 7.6 to be reduced in any Calendar Year below [***] percent ([***]%) of the rates
set forth in Section 7.6. 
 7.7.6 DICERNA Obligations. For purposes of clarity, DICERNA shall be solely responsible for
the amount of any royalties which DICERNA may be required to pay to any Third Parties for DICERNA Background Dicer Substrate Technology and DICERNA Background DDS Technology Controlled by DICERNA as of the Effective Date pursuant to agreements to
which DICERNA is a party and that are in effect as of the Effective Date. 
 7.8 Accounting Reports; Payment of
Royalty. KHK shall keep complete and accurate books and records necessary for DICERNA to ascertain and to verify all payments owed by KHK hereunder. KHK will make royalty payments to DICERNA for Licensed Products sold by KHK, its Affiliates
and Sublicensees during [***]. Each royalty payment will be accompanied by a written report for that [***] showing (a) the Net Sales of the Licensed Products sold by KHK, its Affiliates and Sublicensees during the [***] and the calculation of
the royalties payable under this Agreement; (b) the basis for any deductions from gross amounts billed or invoiced to determine Net Sales; (c) the applicable royalty rates for such Licensed Product; (d) the exchange rates used in
calculating any of the foregoing; and (e) a calculation of the amount of royalty due to DICERNA. 
 7.9 Audit
Rights. Upon the written request of DICERNA, and not more than once in each Calendar Year, KHK will permit DICERNA’s independent certified public accountant to have access during normal business hours to such of the records of KHK as
may be reasonably necessary to verify the accuracy of the royalty reports hereunder for the current year and the preceding [***] prior to the date of such request. The independent certified public accountant shall keep confidential any information
obtained during such inspection and shall report to DICERNA only the amounts of Net Sales and royalties due and payable. Upon the expiration of [***] following the end of any Calendar Year, the calculation of royalties payable with respect to such
year will be binding and conclusive upon DICERNA, and KHK and its Affiliates and Sublicensees will be released from any liability or accountability with respect to royalties for such Calendar Year. If such accounting firm concludes that additional
royalties were owed, or that KHK overpaid royalties, during such period, KHK will pay the additional royalties, or DICERNA shall return any overpaid royalties, within [***] of the date DICERNA delivers to KHK such accounting firm’s written
report. The fees charged by such accounting firm will be paid by DICERNA unless the additional royalties owed by KHK exceed [***] percent ([***]%) of the royalties paid for the royalty period subject to the audit, in which case KHK will pay the
reasonable fees of the accounting firm. KHK will include in each sublicense 

  
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granted by it pursuant to this Agreement a provision requiring the Sublicensee to make reports to KHK, to keep and maintain records of sales made pursuant to such sublicense and to grant access
to such records by a mutually-agreed upon independent accountant to the same extent required of KHK under this Agreement. DICERNA will treat all financial information subject to review under this Section 7.9 or under any sublicense agreement in
accordance with the confidentiality provisions of this Agreement, and will use reasonable effort to cause its accounting firm to enter into a reasonably acceptable confidentiality agreement with KHK obligating it to retain all such financial
information in confidence pursuant to such confidentiality agreement. 
 7.10 Payments. All payments to a Party under
this Agreement will be made in United States Dollars by bank wire transfer of same day funds to such bank account as designated in writing by the other Party from time to time. Each Party will pay a late payment service charge of [***]% per [***]
(or the highest amount allowed by law, if lower than [***]% per [***]) on all past-due amounts owed by such Party under this Agreement. 

7.11 Income Tax Withholding. Each Party will be responsible for its own tax liabilities resulting from the payments
received from the other Party under this Agreement. If laws, rules or regulations require withholding of income taxes or other taxes imposed upon payments set forth in this Article 7, the paying Party will make such withholding payments to the
governmental authorities as required and subtract such withholding payments from the payments set forth in this Article 7. The paying Party will submit appropriate proof of payment of the withholding taxes to the other Party within a reasonable
period of time. The Parties will cooperate reasonably in completing and filing documents required under the provisions of any applicable tax laws or under any other Applicable Laws, in connection with the making of any required tax payment or
withholding payment, or in connection with any claim to a refund of or credit for any such payment. The Parties will cooperate to minimize such withholding taxes in accordance with Applicable Laws. 

7.12 Foreign Currency Exchange. If, in any Calendar Quarter, Net Sales are made in any currency other than United States
Dollars, such Net Sales shall be converted into United States Dollars as follows: 
 (A/B), where 

A = foreign “Net Sales” (as defined above) in such Calendar Quarter expressed in such foreign currency; and 

B = foreign exchange conversion rate, expressed in local currency of the foreign country per United States Dollar (using, as the applicable
foreign exchange rate, [***]. 

  
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 ARTICLE 8 

CONFIDENTIALITY 
 8.1
Nondisclosure and Nonuse Obligations. All Confidential Information disclosed by a Disclosing Party to a Receiving Party hereunder will be maintained in confidence and will not be disclosed to any Third Party or used by the Receiving
Party for any purpose except as expressly permitted herein without the prior written consent of the Disclosing Party. Notwithstanding the foregoing, (a) either Party may disclose data generated during the Research Collaboration to such
Party’s employees who are subject to obligations of confidentiality and non-use with respect to such data no less restrictive than the obligations of confidentiality and non-use of the Receiving Party pursuant to this Article 8 and (b) the
Parties shall generally have free use of data generated and shared during the Research Collaboration for purposes relating to the development and commercialization of the Licensed Product and other activities related to their obligations arising
under this Agreement. For purposes of clarity, neither Party may use the Confidential Information of the other Party for internal research or development purposes other than for activities directly related to their obligations arising under this
Agreement. 
 8.2 Permitted Disclosure of Confidential Information. 

8.2.1 Permitted Disclosures. Notwithstanding Section 8.1, a Receiving Party may disclose Confidential Information of the
Disclosing Party: 
 (a) to appropriate U.S. and/or foreign tax authorities, to appropriate patent agencies in order to obtain and
prosecute Patent Rights pursuant to this Agreement, to appropriate Regulatory Authorities to gain approval to conduct clinical trials, obtain Registrations or to market Licensed Products pursuant to this Agreement; provided, that, any such
disclosure may be only to the extent reasonably necessary to obtain such Patent Rights or authorizations; 
 (b) if required by any
governmental authority other than under Section 8.2.1; provided, that, prior to such disclosure, the Party subject to the request for such disclosure (the “Notifying Party”) promptly notifies the other
Party of such requirement so that such other Party may seek a protective order or other appropriate remedy; and provided, further, that, in the event that no such protective order or other remedy is obtained, or that such other Party waives
compliance with this Article 8, the Notifying Party will furnish only that portion of the other Party’s Confidential Information that it is advised by counsel it is legally required to furnish and will exercise all reasonable efforts to
obtain reasonable assurance that confidential treatment will be accorded the other Party’s Confidential Information so furnished; 

  
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 (c) by a Party to its permitted sublicensees, agents, consultants, Affiliates and/or other
Third Parties for the research and development, manufacturing and/or marketing of Licensed Products (or for such Parties to determine their interest in performing such activities) in accordance with this Agreement on the condition that such
Affiliates and Third Parties agree to be bound by the confidentiality and non-use obligations contained in this Agreement; or 
 (d) if
required to be disclosed by law or court order; provided, that, notice is promptly delivered to the non-disclosing Party in order to provide an opportunity to challenge or limit the disclosure obligations. 

8.2.2 Additional Permitted Disclosures. In addition to the disclosures permitted under Section 8.2.1 above, DICERNA and KHK
each agrees that the Receiving Party may disclose the Confidential Information of the Disclosing Party (including the terms of this Agreement) (a) on a need-to-know basis to such Disclosing Party’s legal and financial advisors; (b) as
reasonably necessary in connection with an actual or potential (i) permitted sublicense of such Receiving Party’s rights hereunder, (ii) Third Party collaborators or licensees, or debt or equity financing of such Receiving Party,
subject in each case to written obligations of confidentiality substantially similar to those of the Parties hereunder, or (iii) merger or sale of all or substantially all of the Receiving Party’s business unit to which this Agreement
relates or in the event of the merger or consolidation or similar change of control involving such Receiving Party; (c) to any Third Party that is or may be engaged by the Receiving Party to perform services in connection with the Research
Collaboration; and (d) for any other purpose with the Disclosing Party’s written consent, not to be unreasonably withheld, conditioned or delayed. 

ARTICLE 9 
 DISCLAIMERS,
REPRESENTATIONS, WARRANTIES AND 
 INDEMNIFICATIONS 

9.1 KHK Representations and Warranties. KHK represents and warrants to DICERNA as follows: 

9.1.1 Corporate Existence and Authority. As of the Effective Date, KHK: (a) is a corporation duly organized, validly
existing and in good standing under the laws of Japan, (b) has full corporate power and authority and the legal right to own and operate its 

  
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property and assets and to carry on its business as it is now being conducted and as contemplated in this Agreement, including the right to grant the options to license and licenses granted
hereunder, (c) has the corporate power and authority and the legal right to enter into this Agreement and perform its obligations hereunder, (d) has taken all necessary corporate action on its part required to authorize the execution and
delivery of this Agreement and the performance of its obligations hereunder, and (e) has delivered this Agreement that has been duly executed and this Agreement constitutes a legal, valid, binding obligation of KHK and is enforceable against it
in accordance with its terms. 
 9.1.2 Patents. As of the Effective Date and to the best of KHK’s Knowledge, it
has the sufficient legal and/or beneficial title and ownership under the KHK Technology as is necessary to fulfill its obligations under this Agreement and to grant the licenses to DICERNA pursuant to this Agreement. KHK is not aware of any
communications alleging that it has violated or, by conducting its business as currently proposed under this Agreement, would violate any of the intellectual property rights of any Third Party. 

9.1.3 Absence of Litigation, Infringement, Misappropriation. As of the Effective Date and to the best of KHK’s Knowledge,
there is no pending or threatened litigation (and KHK has not received any communication relating thereto) which alleges that KHK’s activities under this Agreement would infringe or misappropriate any intellectual property rights of any Third
Party. To the best of KHK’s Knowledge, there is no material unauthorized use, infringement or misappropriation of any of its intellectual property rights that are the subject of the licenses or options to license granted hereunder. 

9.1.4 Full Disclosures. KHK has provided DICERNA with all information that DICERNA has requested for deciding the merits of
entering into this Agreement. 
 9.1.5 Employee Obligations. All KHK employees who will conduct research under this Agreement
have legal obligations requiring assignment to KHK of all inventions made in the course of and as a result of their association with KHK and obligating the individual to maintain as confidential the Confidential Information of KHK, as well as the
Confidential Information of DICERNA which KHK may receive. 
 9.1.6 Compliance with Laws. In carrying out its work under this
Agreement, all KHK work shall be carried out in compliance with any Applicable Laws including, without limitation, federal, state, or local laws, regulations, or guidelines governing the work at the site where such work is being conducted. Moreover,
KHK will carry out all work under the Research Collaboration in accordance with current Good Laboratory Practices, Good Clinical Practices, and Good Manufacturing Practices, if applicable, based on the specific work to be conducted. 

  
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 9.1.7 No Debarment. Neither KHK nor any of its Affiliates has been debarred or
is subject to debarment. During the Term, KHK and its Affiliates will use Commercially Reasonable Efforts to avoid using in any capacity, in connection with the development, manufacture or commercialization of any Research Compound or Licensed
Product, any person who, to KHK’s Knowledge has been debarred pursuant to Section 306 (or comparable law or regulation) of the FDCA, or who to KHK’s Knowledge is the subject of a conviction described in such section. KHK agrees to
inform DICERNA in writing immediately if it or any person who is performing services hereunder is debarred or is the subject of a conviction described in Section 306 (or comparable law or regulation), or if any action, suit, claim,
investigation or legal or administrative proceeding is pending or, to the best of KHK’s Knowledge, is threatened, relating to the debarment or conviction of KHK or any person used in any capacity by KHK or any of its Affiliates in connection
with the development, manufacture or commercialization of any Research Compound or Licensed Product. 
 9.2 DICERNA Representations
and Warranties. DICERNA represents and warrants to KHK as follows: 
 9.2.1 Corporate Existence and Authority. As of
the Effective Date, DICERNA: (a) is a corporation duly organized, validly existing and in good standing under the laws of the state in which it is incorporated, (b) has full corporate power and authority and the legal right to own and
operate its property and assets and to carry on its business as it is now being conducted and as contemplated in this Agreement, including the right to grant the options to license and licenses granted hereunder, (c) has the corporate power and
authority and the legal right to enter into this Agreement and perform its obligations hereunder, (d) has taken all necessary corporate action on its part required to authorize the execution and delivery of this Agreement and the performance of
its obligations hereunder, and (e) has delivered this Agreement that has been duly executed and this Agreement constitutes a legal, valid, binding obligation of DICERNA and is enforceable against it in accordance with its terms; 

9.2.2 Patents. As of the Effective Date and to the best of DICERNA’s Knowledge, it has the sufficient legal and/or
beneficial title and ownership under the DICERNA Technology as is necessary to fulfill its obligations under this Agreement and to grant the licenses and options to license to KHK pursuant to this Agreement. DICERNA has no Knowledge of any
communications alleging that it has violated or, by conducting its business as currently proposed under this Agreement, would violate any of the intellectual property rights of any Third Party. 

  
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 9.2.3 Absence of Litigation, Infringement, Misappropriation. As of the
Effective Date and to the best of DICERNA’s Knowledge, there is no pending or threatened litigation (and DICERNA has not received any communication relating thereto) which alleges that DICERNA’s activities under this Agreement would
infringe or misappropriate any intellectual property rights of any Third Party. To the best of DICERNA’s Knowledge, there is no material unauthorized use, infringement or misappropriation by any Third Party of any of DICERNA’s intellectual
property rights that are the subject of the licenses or options to license granted to KHK hereunder. 
 9.2.4 Full
Disclosures. DICERNA has provided KHK with all information that KHK has requested for deciding the merits of entering into this Agreement. 

9.2.5 Employee Obligations. All DICERNA personnel who will conduct research under this Agreement have legal obligations
requiring assignment to DICERNA of all inventions made in the course of and as a result of their association with DICERNA and obligating the individual to maintain as confidential the Confidential Information of DICERNA, as well as the Confidential
Information of KHK which DICERNA may receive; 
 9.2.6 Compliance with Laws. In carrying out its work under this Agreement,
all DICERNA work shall be carried out in compliance with any Applicable Laws including, without limitation, federal, state, or local laws, regulations, or guidelines governing the work at the site where such work is being conducted. Moreover,
DICERNA will carry out all work under the Research Collaboration in accordance with current Good Laboratory Practices, Good Clinical Practices, Good Manufacturing Practices, if applicable based on the specific work to be conducted. 

9.2.7 Licenses. DICERNA has not taken not will it take any action which would, in DICERNA’s good faith judgment, interfere
with any obligations of DICERNA set forth in this Agreement, including but not limited to the obligation to grant KHK the licenses and options to license hereunder. 

9.2.8 No Debarment. Neither DICERNA nor any of its Affiliates has been debarred or is subject to debarment. During the Term,
DICERNA and its Affiliates will use Commercially Reasonable Efforts to avoid using in any capacity, in connection with the development, manufacture or commercialization of any Research Compound or Licensed Product, any person who, to DICERNA’s
Knowledge has been debarred pursuant to Section 306 

  
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(or comparable law or regulation) of the FDCA, or who to DICERNA’s Knowledge is the subject of a conviction described in such section. DICERNA agrees to inform KHK in writing immediately if
it or any person who is performing services hereunder is debarred or is the subject of a conviction described in Section 306 (or comparable law or regulation), or if any action, suit, claim, investigation or legal or administrative proceeding
is pending or, to the best of DICERNA’s Knowledge, is threatened, relating to the debarment or conviction of DICERNA or any person used in any capacity by DICERNA or any of its Affiliates in connection with the development, manufacture or
commercialization of any Research Compound or Licensed Product. 
 9.3 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN
THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY TO THE OTHER PARTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Without
limiting the generality of the foregoing, each Party expressly does not warrant (a) the success of any research undertaken in the course of the Research Collaboration or (b) the safety for any purpose of the technology it provides
hereunder. 
 9.4 Responsibility and Control. DICERNA and KHK shall each be solely responsible for the safety of
their respective employees, agents, licensees or sublicensees with respect to efforts employed under this Agreement and each shall hold the other harmless with regard to any liability for damages or personal injuries resulting from acts of its
respective employees, agents, licensees or sublicensees. 
 9.5 KHK’s Right to Indemnification. DICERNA
shall indemnify each of KHK, its Affiliates, Sublicensees, permitted successors and assigns, and the directors, officers, employees, agents and counsel thereof (the “KHK Indemnitees”), and defend and hold each KHK Indemnitee
harmless from and against any and all liabilities, damages, losses, settlements, claims, actions, suits, penalties, fines, costs or expenses (including, without limitation reasonable attorneys’ fees) (any of the foregoing,
“Damages”) incurred by or asserted against any KHK Indemnitee of whatever kind or nature, including, without limitation, any claim or liability based upon negligence, warranty, strict liability, or violation of government
regulation but only to the extent arising from or occurring as a result of a claim or demand made by a Third Party (a “Third Party Claim”) against any KHK Indemnitee arising because of: (a) the breach of any
representation or warranty made by DICERNA pursuant to this Article 9; (b) any material breach of this Agreement by DICERNA; (c) the manufacture, use, handling, storage, sale or other disposition of a Co-Promoted Product that is sold
by 

  
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DICERNA, its Affiliates, agents or sublicensees; or (d) the gross negligence or willful misconduct of DICERNA except, in each such case in subparagraphs (a) through (d) above, for
any Damages for which KHK or any of its Affiliates has an obligation to indemnify DICERNA Indemnitees pursuant to Section 9.6, as to which Third Party Claim or Damages each Party will indemnify the other to the extent of their respective
liability for such Damages. 
 9.6 DICERNA’s Right to Indemnification. KHK shall indemnify each of DICERNA, its
Affiliates, sublicensees, successors and assigns, and the directors, officers, employees, agents and counsel thereof (the “DICERNA Indemnitees”), and defend and hold each DICERNA Indemnitee harmless from and
against any and all Damages incurred by or asserted against any DICERNA Indemnitee of whatever kind or nature, including, without limitation, any claim or liability based upon negligence, warranty, strict liability, violation of government
regulation but only to the extent arising from or occurring as a result of a Third Party Claim against any DICERNA Indemnitee arising because of: (a) the breach of any representation or warranty made by KHK pursuant to this Article 9;
(b) any material breach of this Agreement by KHK; (c) the development, manufacture, use, handling, storage, sale or other disposition of any Licensed Product that is sold by KHK, its Affiliates, agents or Sublicensees; or (d) the
gross negligence or willful misconduct of KHK except, in each such case in subparagraphs (a) through (d) above, for any Damages for which DICERNA or any of its Affiliates has an obligation to indemnify KHK Indemnitees pursuant to
Section 9.5, as to which Third Party Claim or Damages each Party will indemnify the other to the extent of their respective liability for such Damages. 

9.7 Indemnification Procedures. Promptly after a Party entitled to indemnification under Section 9.5 or 9.6 (an
“Indemnitee”) receives notice of any pending or threatened claim against it (an “Action”), such Indemnitee shall give written notice to the Party to whom the Indemnitee is entitled to look for
indemnification pursuant to Section 9.5 or 9.6, as applicable (the “Indemnifying Party”), of the commencement thereof; provided, that, the failure so to notify the Indemnifying Party shall not relieve it of any liability
that it may have to any Indemnitee hereunder, except to the extent the Indemnifying Party demonstrates that it is prejudiced thereby. In case any Action that is subject to indemnification under this Article 9, shall be brought against an
Indemnitee and it shall give written notice to the Indemnifying Party of the commencement thereof, the Indemnifying Party shall be entitled to participate therein and, if it so desires, to assume the defense thereof with counsel reasonably
satisfactory to such Indemnitee and, after notice from the Indemnifying Party to the Indemnitee of its election to assume the defense thereof, the Indemnifying Party shall not be liable to such Indemnitee under this Article 9 for any fees of
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than reasonable costs of investigation. Notwithstanding an Indemnifying Party’s election to assume the defense of any such Action that is subject to indemnification under this
Article 9, the Indemnitee shall have the right to employ separate counsel and to participate in the defense of such Action, and the Indemnifying Party shall bear the reasonable fees, costs and expenses of such separate counsel if: (a) the
use of counsel chosen by the Indemnifying Party to represent the Indemnitee would present such counsel with a conflict of interest; (b) the actual or potential defendants in, or targets of, any such Action include both the Indemnifying Party
and the Indemnitee, and the Indemnitee shall have reasonably concluded that there may be legal defenses available to it which are different from or additional to those available to the Indemnifying Party (in which case the Indemnifying Party shall
not have the right to assume the defense of such Action on the Indemnitee’s behalf); (c) the Indemnifying Party shall not have employed counsel satisfactory to the Indemnitee to represent the Indemnitee within a reasonable time after
notice of the institution of such Action; or (d) the Indemnifying Party shall authorize the Indemnitee to employ separate counsel at the Indemnifying Party’s expense. If an Indemnifying Party assumes the defense of such Action, no
compromise or settlement thereof may be effected by the Indemnifying Party without the Indemnitee’s written consent, which consent shall not be unreasonably withheld or delayed, unless (1) there is no finding or admission of any violation
of law or any violation of the rights of any other Party and no effect on any other claims that may be made against the Indemnitee and (2) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party. 

9.8 Insurance. Not later than [***] before the date on which KHK or any Affiliate or Sublicensee of KHK shall, on a commercial
basis, make, use, or sell any Licensed Products, KHK will, at its expense, obtain and maintain in full force and effect product liability insurance with a minimum coverage of $[***] per occurrence and $[***] annual aggregate. Upon request of
DICERNA, such insurance shall name DICERNA as an additional insured and shall provide for at least [***] notice to DICERNA of any cancellation or termination; provided, that, DICERNA shall reimburse KHK for any additional insurance fee incurred by
KHK for inclusion of DICERNA as an additional insured. 
 ARTICLE 10 

INTELLECTUAL PROPERTY 

10.1 Disclosures and Reports. During the Term, each Party shall promptly disclose to the other in writing all Program
Technology generated by such Party, which disclosure shall be in sufficient detail to permit the other Party to employ such Program Technology as provided herein. Within [***] of the termination or expiration of this Agreement, each Party shall
provide the other Party with a comprehensive final written report with respect to the Program Technology generated by such Party under this Agreement. 

  
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 10.2 DICERNA Program Technology. DICERNA shall solely own all DICERNA Program
Technology and have the sole right to exploit such DICERNA Program Technology. KHK shall assign to DICERNA all of its rights to any such DICERNA Program Technology in which it has inventorship, and DICERNA shall and hereby does grant to KHK a
royalty-free, fully paid license to use such DICERNA Program Technology solely to the extent necessary for KHK to perform its obligations under this Agreement. 

10.3 KHK Program Technology. KHK shall solely own all KHK Program Technology and have the sole right to exploit such KHK Program
Technology. DICERNA shall assign to KHK all of its rights to any such KHK Program Technology in which it has inventorship, and KHK shall and hereby does grant to DICERNA a royalty-free, fully paid license to use any such KHK Program Technology
solely to the extent necessary for DICERNA to perform its obligations under this Agreement. 
 10.4 Joint Technology and Joint Patent
Rights. DICERNA and KHK shall jointly own all Joint Technology and Joint Patent Rights. Notwithstanding anything to the contrary contained herein or under Applicable Laws, subject to the licenses granted by each Party to the other Party
pursuant to this Agreement and except to the extent set forth in Article 8, the Parties hereby agree that any information and data contained in the Joint Technology shall be kept confidential until the relevant Joint Patent Right is filed or the
Parties determine not to file such Joint Patent Right, and thereafter, either Party may use or license or sublicense to Affiliates or Third Parties all or any portion of its interest in Joint Technology or Joint Patent Rights for any purposes inside
or outside of this Agreement, without the prior written consent of the other Party, without restriction and without the obligation to provide compensation to the other Party. For purposes of clarity, Article 8 shall not apply to the information or
data contained in the Joint Technology after the termination of this Agreement in any case. 
 10.5 Patent Filing and
Prosecution. 
 10.5.1 Patent Coordinators. Each Party shall appoint a patent coordinator reasonably acceptable to the
other Party (each, a “Patent Coordinator”) to serve as such Party’s primary liaison with the other Party on matters relating to patent filing, prosecution, maintenance and enforcement under this Agreement.
Each Party may replace its Patent Coordinator at any time by notice in writing to the other Party. 

  
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 10.5.2 Characterization of Program Technology. DICERNA and KHK shall discuss
and attempt to resolve in good faith on a case by case basis as to how all Program Technology made in the conduct of the Research Collaboration should be categorized (i.e., whether it should be characterized as DICERNA Program Technology, KHK
Program Technology or Joint Technology). If DICERNA and KHK are unable to agree upon the appropriate proper categorization of Program Technology, the Parties may jointly appoint a neutral patent expert (patent counsel who (and whose firm) is not at
the time of the dispute, and was not at any time during the [***] prior to such dispute, performing services for either of the Parties) reasonably acceptable to the Parties to mediate their discussions and help resolve the issue. Any such dispute
shall be resolved according to U.S. patent law. The Parties shall share the costs and expenses of any such neutral patent expert. 
 10.5.3
Joint Patent Rights. The Parties will determine which Party will undertake the preparation, filing, prosecution, maintenance and enforcement of Joint Patent Rights based on the respective expertise of the Parties. If the Parties fail
to agree, then prosecution of such Joint Patent Rights shall be jointly controlled by the Parties, using patent counsel agreed upon by the Patent Coordinators of both Parties. The patent costs incurred in connection with the preparation, filing,
prosecution, maintenance and enforcement of Joint Patent Rights will be shared equally by the Parties. 
 10.5.4 DICERNA
Filings. DICERNA or City of Hope, as the case may be, shall have sole right, at its sole discretion and at DICERNA’s sole expense, to prepare, file, prosecute, maintain and enforce the DICERNA Background Dicer Substrate Patent Rights,
DICERNA Background DDS Patent Rights, DICERNA KRAS-Specific Patent Rights and DICERNA Program Patent Rights. 
 10.5.5 KHK
Filings. KHK shall have sole right, at its sole discretion and at KHK’s sole expense, to prepare, file, prosecute, maintain and enforce the KHK Background Patent Rights and KHK Program Patent Rights. 

10.5.6 Information and Cooperation. Each filing Party shall (a) discuss with the other Party, through the Patent
Coordinator, the filing of any patent application with respect to any Program Technology; (b) regularly provide the other Party with copies of all patent applications filed hereunder for any Program Technology and other material submissions and
correspondence with the patent offices, in sufficient time to allow for review and comment by the other Party; (c) provide the other Party and its patent counsel with an opportunity to consult with the Party and its patent counsel regarding the
filing and contents of any such application, amendment, submission or response, and the advice and suggestions of the other Party and its patent counsel shall be taken into consideration in good faith by such

  
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Party and its patent counsel in connection with such filing; and (d) execute any documents that may be necessary to perfect the filing Party’s rights in and to any Program Technology
and, in the event that the filing Party is unable for any reason to secure the signature of the other Party to any lawful and necessary document required to perfect its rights in and to any such Program Technology, the other Party hereby designates
the filing Party as its agent, and hereby grants to the filing Party a power of attorney with full power of substitution, which power of attorney shall be deemed coupled with an interest, for the sole purpose of effecting the foregoing. Each filing
Party shall pursue in good faith all reasonable claims requested by the other Party in the prosecution of any Patent Rights under this Section 10.5.6. 

10.5.7 Election Not to File, Prosecute or Maintain. If the responsible Party under this Section 10.5 elects (a) not to
file a patent application claiming any Program Technology in a particular country, or (b) to discontinue prosecution or maintenance of any Patent Right with respect to Program Technology controlled by such Party, that Party (the
“Initial Responsible Party”) shall give [***] advance written notice to the other Party of any decision to cease preparation, filing, prosecution and maintenance of that Patent Right (a “Discontinued
Patent”); provided, however, that abandonment of a patent application in favor of a continuation or a continuation-in-part thereof shall not constitute discontinuance of the patent application. In such case, the other Party may elect at
its sole discretion to continue preparation, filing, prosecution or maintenance of the Discontinued Patent at its sole expense. The Party so continuing shall own any such patent application and patents maturing therefrom and be solely responsible
for all costs, and the Initial Responsible Party shall have a non-exclusive, worldwide, irrevocable, perpetual, fully-paid license to continue to practice such Discontinued Patent, including the right to
sublicense, as provided under this Agreement. In addition, such Party so continuing shall cease to have any obligation to pay royalties to the Initial Responsible Party under this Agreement with respect to the Discontinued Patent. The Initial
Responsible Party shall execute such documents and perform such acts as may be reasonably necessary for the other Party to file or to continue prosecution or maintenance, including assigning ownership of such patents and inventions to such electing
Party. Discontinuance may be on a country-by-country basis or for a patent application or patent series in total. 
 10.5.8 Patent
Term Extensions. The Parties shall cooperate with each other in gaining patent term extension wherever applicable to any Licensed Product. All filings for such extension shall be made by the Party to whom the responsibility for prosecuting
patent is assigned; provided, however, that in the event that the Party to whom the responsibility for such patent is assigned elects not to file for an extension, such Party shall (a) inform the other Party of its intention not to file,
(b) grant the other Party the right to file for such extension, and (c) cooperate as necessary to assist the other Party in filing such extension. 

  
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 10.6 Infringement Claims Against Third Parties. 

10.6.1 Notice. Each Party shall notify the other Party if it becomes aware of a patent
infringement or the like by a Third Party of any Patent Rights the prosecution of which is controlled by a Party covering or relating to a Licensed Product (each, an “Infringement”). The Parties shall mutually discuss what
action to take with respect to such Infringement. 
 10.6.2 DICERNA Right to Enforce. DICERNA or City of Hope,
as the case may be, shall have the first right, but not the obligation, upon written notice to KHK, to take appropriate action to address any such Infringement that involves DICERNA Background Dicer Substrate Patent Rights, DICERNA Background DDS
Patent Rights, DICERNA KRAS-Specific Patent Rights or DICERNA Program Patent Rights by taking reasonable steps, which may include the institution of legal proceedings or other action (an “Action”), and to
compromise or settle such Action; provided, that, (a) DICERNA shall keep KHK fully informed about such Action and KHK shall provide reasonable cooperation to DICERNA in connection with such Action; (b) if neither DICERNA nor City of Hope
intends to prosecute or defend an Action, or ceases to diligently pursue such an Action, DICERNA shall promptly inform KHK in such a manner that such Action will not be prejudiced and Section 10.6.3 shall apply; (c) no settlement with
respect to DICERNA Program Patent Rights or Joint Patent Rights shall be entered into by DICERNA without the prior written consent of KHK if such settlement would reasonably be expected to adversely affect or diminish the rights and benefits of KHK
under this Agreement with respect to the Licensed Products and (d) DICERNA shall not be entitled to settle any such Action granting a license or covenant not to sue under or with respect to DICERNA Program Patent Rights or Joint Patent Rights
that is reasonably likely to directly and adversely affect the scope, validity or enforceability of the KHK Program Patent Rights or that would be inconsistent with the license and other rights granted to KHK hereunder without the prior written
consent of KHK, which consent shall not be unreasonably withheld. All costs, including attorneys’ fees, relating to any such Action undertaken by DICERNA shall be borne by DICERNA. 

10.6.3 KHK Right to Enforce. KHK shall (a) have the first right (but not the obligation, upon written notice to DICERNA, to
take appropriate action to address any Infringement that involves KHK Program Patent Rights and (b) shall have the right, but not the obligation upon written notice to DICERNA, to take appropriate action to address any Action DICERNA determines
not to pursue under Section 10.6.2; provided, that, (i) KHK shall keep DICERNA fully informed about such Action and DICERNA shall provide reasonable 

  
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cooperation to KHK in connection with such Action; (ii) KHK shall not take any position with respect to, or compromise or settle, such Action in any way (including by granting a license or
covenant not to sue) that would reasonably be expected to adversely affect the scope, validity or enforceability of the DICERNA Background Dicer Substrate Patent Rights, DICERNA Background DDS Patent Rights, DICERNA Program Patent Rights or Joint
Patent Rights without DICERNA’s prior written consent, which consent shall not be unreasonably withheld. All costs, including attorneys’ fees, relating to such Action undertaken by KHK shall be borne by KHK. 

10.6.4 Right to Representation. Each Party shall have the right to participate and be represented by counsel that it selects, in
any Action instituted under Section 10.6.2 or 10.6.3 by the other Party. If a Party with the right to initiate an Action under Section 10.6.2 or 10.6.3 to eliminate an Infringement lacks standing to do so and the other Party has standing
to initiate such Action, then the Party with the right to initiate an Action under Section 10.6.2 or 10.6.3 may name the other Party as plaintiff in such Action or may require the Party with standing to initiate such Action at the expense of
the other Party. 
 10.6.5 Cooperation. In any Action instituted under Section 10.6.2 or 10.6.3, the Parties shall
cooperate with and assist each other in all reasonable respects. Upon the reasonable request of the Party instituting such Action, if necessary to maintain such Action, the other Party shall join such Action and shall be represented using counsel of
its own choice, at the requesting Party’s expense. 
 10.6.6 Allocation of Proceeds. Any amounts recovered by either
Party pursuant to Actions under Sections 10.6 with respect to any Infringement, whether by settlement or judgment, shall, after reimbursing KHK and DICERNA (and/or City of Hope, as the case may be) for their reasonable internal costs and
out-of-pocket expenses in making such recovery (which amounts shall be allocated pro rata if insufficient to cover the totality of such expenses), shall, with respect to Licensed Products that are not Co-Promoted Products, be retained by, or paid
to, as applicable, KHK and treated as Net Sales of the Licensed Product affected by the Infringement for purposes of this Agreement and, with respect to Co-Promoted Products, be allocated between the Parties as provided in the Co-Promotion
Agreement. Notwithstanding the foregoing, any recovery obtained by City of Hope as the result of any Action initiated by and paid for City of Hope shall be for the sole benefit of City of Hope. 

10.7 Defense of Infringement Claims. 

10.7.1 Notice. In the event that any action, suit or proceeding is brought against either Party alleging the infringement of the
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Party by reason of or the development or commercialization, including the manufacture, use or sale, of any Licensed Product by or on behalf of KHK or any of its Affiliates or Sublicensees in the
Field and in the Territory, such Party shall notify the other Party within [***] and the Patent Coordinators shall meet as soon as possible to discuss the overall strategy for defense of such matter. 

10.7.2 DICERNA Right. In the event that any action, suit or proceeding brought against either Party or any Affiliate or
Sublicensee (with respect to KHK) or (sub)licensee (with respect to DICERNA) alleges the infringement of the Technology or Patent Rights of a Third Party by reason of the use of DICERNA Background Dicer Substrate Patent Rights or DICERNA Program
Patent Rights as provided in this Agreement (each, a “Dicer Substrate Infringement Action”), DICERNA shall have the right, but not the obligation, to defend such action, suit or proceeding at its sole cost and
expense; and KHK or any of its Affiliates or Sublicensees shall have the right to join with separate counsel at its own expense in any such action, suit or proceeding; and the Parties shall cooperate with each other in all reasonable respects in any
such action, suit or proceeding. 
 10.7.3 KHK Right. In the event that (a) DICERNA informs KHK that it does not intend
to defend any Dicer Substrate Infringement Action as set forth in above Section 10.7.2, or (b) any action, suit or proceeding brought against either Party or any Affiliate or Sublicensee (with respect to KHK) or (sub)licensee (with respect
to DICERNA) alleges the infringement of the Technology or Patent Rights of a Third Party for any reason other than as described in Section 10.7.2: (i) KHK shall have the right, but not the obligation to defend such action, suit or
proceeding; (ii) DICERNA or any of its Affiliates or sublicensees shall have the right to join with separate counsel at its own expense in any such action, suit or proceeding; (iii) the Parties shall cooperate with each other in all
reasonable respects in any such action, suit or proceeding and (iv) to the extent the action, suit or proceeding is a Dicer Substrate Infringement Action, KHK shall have the right to offset [***] percent ([***]%) of all the costs and expenses
incurred by KHK in the defense of such Dicer Substrate Infringement Action against royalties or milestone payment amounts otherwise payable by KHK to DICERNA under this Agreement; provided, that, any payments made pursuant to this
Section 10.7.3 shall be subject to the royalty reduction limitations of Section 7.7.5. 
 10.7.4 In General. Each
Party shall promptly furnish the other Party with a copy of each communication relating to any alleged infringement of any Third Party Technology or Patent Rights as a result or in connection with the development or commercialization of any Licensed
Product in the Field and in the Territory that is received by such Party including all documents filed in any litigation. 

  
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 ARTICLE 11 

TERM AND TERMINATION 

11.1 Term of Research Collaboration. The Research Collaboration shall become effective on the Effective Date and continue
until the expiration of the Research Collaboration Term.  
 11.2 Term of Agreement. This Agreement shall
commence on the Effective Date and shall continue in full force and effect, unless otherwise terminated pursuant to Section 11.2, (a) in the Co-Promotion Territory, if DICERNA has exercised its Co-Promotion Option with respect to a
Licensed Product, for as long as such Co-Promoted Product is being sold by either Party in the Co-Promotion Territory (the “Co-Promotion Term”) and (b) in each country outside of the Co-Promotion Territory,
on Licensed Product by Licensed Product and country by country basis, until the expiration of the applicable Royalty Term in such country. Upon the expiration of the Royalty Term or the Co-Promotion Term, as the case may be, as set forth in this
Section 11.2 on a country by country, Licensed Product by Licensed Product basis, the license rights granted hereunder for such Licensed Product in such country shall be converted to a perpetual, irrevocable and fully paid-up license. 

 11.3 Termination During the Research Collaboration Term. During the Research Collaboration Term, KHK may
terminate this Agreement without cause upon giving DICERNA [***] written notice. 
 11.4 Termination for Breach.
Either Party may terminate this Agreement by notice to the other Party at any time during the Term of this Agreement if the other Party is in material breach of one or more substantial and material obligations hereunder and has not cured such
material breach within [***] after notice requesting cure of the material breach or such longer period of time, not to exceed [***], as is required to cure such material breach as long as the breaching Party is proceeding in good faith to cure;
provided, however, that, in any case when a breach is alleged regarding the payment of money hereunder, the time period will be [***] and undisputed amounts must be paid prior to such time to avoid breach. To the extent that a Party prevails in a
lawsuit brought against the other Party for material breach of this Agreement, such prevailing Party shall be entitled to collect from the other Party reasonable attorneys’ fees and legal costs incurred in connection with such lawsuit. If the
non-breaching Party terminates this Agreement under this Section 11.4 following material breach by the breaching Party, each Party shall return to the other Party all of the other Party’s Confidential Information and all Proprietary
Materials received from the other Party during this Agreement, and each Party shall cease all use of the other Party’s Confidential Information and Proprietary Materials received from the other Party for any purpose except as otherwise
specifically provided herein.  

  
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 11.5 Termination Upon Insolvency. Either Party may terminate this
Agreement upon notice to the other should the other Party become insolvent or file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] of
such filing. During the Term of this Agreement, all rights and licenses granted under or pursuant to this Agreement by KHK or DICERNA are, and will otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses
of right to “intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. The Parties agree that, during the Term of this Agreement, the Parties, as licensees of such rights under this Agreement, will retain and
may fully exercise all of their rights and elections under the U.S. Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding-by or against either Party under the U.S. Bankruptcy Code, the Party
hereto that is not a party to such proceeding will be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, and same, if not already in their
possession, will be promptly delivered to them (a) upon any such commencement of a bankruptcy proceeding upon their written request therefor, unless the Party subject to such proceeding elects to continue to perform all of its obligations under
this Agreement, or (b) if not delivered under (a) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request therefor by the non-subject Party. 

11.6 KHK Termination Without Penalty. After receiving the results of the Research Collaboration, if KHK determines at its sole
discretion not to proceed with the development of any Research Compounds for the Initial Target in accordance with this Agreement, KHK shall have a right to terminate this Agreement without any penalty upon giving DICERNA [***] written notice. 

11.7 DICERNA Termination. Except to the extent the following is unenforceable under the Applicable Laws of a particular
jurisdiction where a patent application with respect to any DICERNA Patent Rights is pending or a patent within any DICERNA Patent Rights is issued, DICERNA may terminate this Agreement immediately upon written notice to KHK in the event that KHK or
any of its Affiliates or Sublicensees Challenges any DICERNA Patent Right or assists a Third Party in initiating a Challenge of any DICERNA Patent Right. 

11.8 Effect of Termination Due to KHK Uncured Breach or KHK Termination Without Cause. If KHK terminates this Agreement
without cause (including under circumstances covered by Section 11.6), or DICERNA terminates this Agreement as a result of KHK’s uncured material breach, the following shall apply: 

(a) all Licensed Products shall be assigned to DICERNA exclusively and KHK shall (i) grant DICERNA licenses under all Patent Rights and
Technology Controlled by KHK solely to the extent necessary to enable DICERNA to continue to develop and commercialize Licensed Products, (ii) provide DICERNA with such data and information (including manufacturing and regulatory information,
and, if appropriate, the right to reference any DMFs) and shall provide to DICERNA copies of all regulatory filings, Drug Approval Applications and Registrations as may be reasonably required to perform the same and (iii) provide DICERNA at
cost, with all supplies of Research Compounds and Licensed Products in the possession of KHK or any Affiliate or contractor of KHK if such stock exists after the period set forth in below Section 11.8.(b); 

  
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 (b) [***] 

(c) all licenses and rights granted by DICERNA to KHK, including all licenses granted to KHK under Article 6, shall immediately terminate and
DICERNA shall no longer be subject to any obligations under Sections 3.9; and 
 (d) each Party shall promptly return all Confidential
Information and Proprietary Materials of the other Party that are not subject to a continuing license hereunder; provided, that, each Party may retain one copy of the Confidential Information of the other Party in its archives solely for the purpose
of establishing the contents thereof and ensuring compliance with its obligations hereunder. 
 11.9 Effect of Termination Due to
DICERNA Uncured Breach. If KHK terminates this Agreement as a result of DICERNA’s uncured material breach, the following shall apply: 

(a) all licenses to DICERNA Background Dicer Substrate Patent Rights, DICERNA Program Patent Rights, and/or DICERNA Background DDS Patent
Rights in effect as of the effective date of such termination shall continue following such termination solely to enable KHK to continue to develop and commercialize Licensed Products being developed and/or commercialized by KHK as of the effective
date of such termination subject to the payment by KHK of any applicable milestone payments and royalty payments under this Agreement; provided, that, [***]; and 

(b) each Party shall promptly return any Confidential Information and Proprietary Materials of the other Party that are not subject to a
continuing license hereunder; 

  
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provided, that, each Party may retain one copy of the Confidential Information of the other Party in its archives solely for the purpose of establishing the contents thereof and ensuring
compliance with its obligations hereunder. 
 11.10 Surviving Provisions. Termination or expiration of this Agreement for any
reason shall be without prejudice to: 
 (a) survival of rights specifically stated in this Agreement to survive; 

(b) the rights and obligations of the Parties provided in Sections 4.3, 7.9, 9.5, 9.6, 9.7, 10.4, 10.5.2, 10.5.3, 11.8, 11.9,11.10, 11.11,
13.4, 13.5, 13.6, and 13.11, and Article 8 (including all other Sections or Articles referenced in any such Section or Article), all of which shall survive such termination except as provided in this Article 11.10; and 

(c) any other rights or remedies provided at law or equity which either Party may otherwise have. 

11.11 Limitation of Liability. No Party shall be liable to another for indirect, incidental, consequential or special
damages, including but not limited to lost profits, arising from or relating to any breach of this Agreement, regardless of any notice of the possibility of such damages. Nothing in this Section is intended to limit or restrict the indemnification
rights or obligations of any Party under Article 9. 
 ARTICLE 12 

PUBLICITY 
 12.1
Disclosure of Agreement. Subject to Section 8.2.2, neither Party to this Agreement may release or disclose any information to any Third Party regarding the terms or existence of this Agreement or the reasons for any termination
hereof, without the prior written consent of the other Party. Without limitation, this prohibition applies to press releases, educational and scientific conferences, quarterly investor updates, promotional materials, governmental filings and
discussions with public officials, the media, security analysts and investors. However, this provision does not apply to any disclosures regarding this Agreement or related information to Regulatory Authorities such as the FDA to the extent required
by Applicable Laws, including requests for a copy of this Agreement or related information by tax authorities. If any Party to this Agreement determines a release of information regarding the existence or terms of this Agreement is required by
Applicable Laws (including releases as may be required to be filed through the Securities Exchange Commission or other government agency), that Party will notify the other Party as soon as practicable and give the other Party as much detail as
possible in relation to the disclosure required and the Parties will cooperate with 

  
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respect to determining what information should actually be released. The Parties have agreed to the wording of a press release in connection with this Agreement as set forth in Schedule 8
attached hereto. Notwithstanding the above, DICERNA shall have the right, at its sole discretion, to issue a press release announcing its receipt of any milestone payment under this Agreement and KHK shall have the right, at its sole discretion, to
issue a press release announcing the subsequent achievement of milestones for clinical and commercial development for Licensed Products. 

12.2 Use of Names, Logos or Symbols. No Party hereto shall use the name, trademarks, logos, physical likeness, employee
names or owner symbol of any other Party for any purpose, including, without limitation, private or public securities placements, without the prior written consent of the affected Party, such consent not to be unreasonably withheld or delayed so
long as such use of name is limited to objective statements of fact, rather than for endorsement purposes. Nothing contained herein shall be construed as granting either Party any rights or license to use any of the other Party’s trademarks or
trade names without separate, express written permission of the owner of such trademark or trade name. 
 12.3
Publication. The Parties acknowledge and agree that scientific lead time is a key element of the value of the research to be performed under this Agreement. In order to ensure that scientific publications are strictly monitored to
prevent any adverse effect of premature publication, the JSC shall establish a procedure for publication review and approval and each Party shall first submit to the other Party an early draft of all such publications, whether they are to be
presented orally or in written form, at least [***] prior to submission for publication. The other Party shall review each such proposed publication in order to avoid the unauthorized disclosure of any Confidential Information and to preserve the
patentability of inventions arising from the research performed in the course of the Research Collaboration. If, within [***] following receipt of an advance copy of a Party’s proposed publication, the other Party informs such Party
(a) that its proposed publication contains the other Party’s Confidential Information, then such Party shall delete such Confidential Information from its proposed publication and/or (b) that its proposed publication contains Program
Technology, the publication of which could be expected to have a material adverse effect on any Program Patent Rights, then such Party shall at the election of the other Party, either (1) delete such Confidential Information from such
Party’s proposed publication or (2) delay such proposed publication sufficiently long to permit the timely preparation and filing of a patent application(s) on the information involved. If, within [***] following receipt of an advance copy
of a Party’s proposed publication, the other Party fails to approve of such Party’s proposed publication, then such proposed publication shall be regarded as denied by the other Party and shall not be published.  

  
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 ARTICLE 13 

MISCELLANEOUS 
 13.1
Force Majeure. No Party will be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement (except payment
obligations) when such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party including, but not limited to, fire, flood, embargo, war, acts of war (whether war be declared or not), insurrection,
riot, civil commotion, act of terrorism, strike, lockout or other labor disturbance, act of God or act, omission or delay in acting by any governmental authority or the other Party. The affected Party will notify the other Party of such force
majeure circumstances as soon as reasonably practical and take reasonable steps to cure or overcome the same and resume performance of its obligations hereunder. 

13.2 Assignment. This Agreement may not be assigned or otherwise transferred, nor, except as expressly provided
hereunder, may any right or obligations hereunder be assigned or transferred, by a Party without the written consent of the other Party; provided, that, either Party may, without such consent, assign this Agreement and its rights and obligations
hereunder to (a) any wholly-owned subsidiary in a manner such that the assignor (if it continues as a separate entity) shall remain liable and responsible for the performance and observance of all its duties and obligations hereunder or
(b) any successor by merger or sale of substantially all of its business unit to which this Agreement relates, or in the event of its merger or consolidation or change in control or similar transaction. This Agreement shall be binding upon the
permitted successors and permitted assigns of the Parties. Any assignment not in accordance with this Section 13.2 shall be void. 

13.3 Severability. In the event that any of the provisions contained in this Agreement are held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affect the
substantive rights of the Parties. The Parties will replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s), which, insofar as practical, implement the purposes of this Agreement. 

13.4 Notices. All notices or other communications which are required or permitted hereunder will be in writing and deemed to be
effective (a) on the date of delivery if delivered in person and written confirmation of delivery is provided, (b) on the date sent by facsimile or other electronic transmission, provided such receipt is verified, (c) on the day
following date of deposit with an overnight courier if a receipt confirming delivery by overnight courier is 

  
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provided, or (d) three (3) days after mailing if mailed by first-class certified mail, postage paid, to the respective addresses given below, or to another address as it will designate
by written notice given to the other Party. 
 If to KHK, to: 

Kyowa Hakko Kirin Co. Ltd. 

1-6-1, Ohtemachi, 
 Chiyoda-ku,
Tokyo, 
 100-8185 Japan 

Attention: Director, Business Development Department 

If to DICERNA, to: 
 480 Arsenal
Street 
 Building 1, Suite 120 

Watertown, MA 02472 
 Attention:
Martin D. Williams, Chief Business Officer 
 with a copy to: 

Mintz, Levin, Cohn, Ferris & Popeo, P.C. 

One Financial Center 
 Boston, MA
02111 
 Attention: John J. Cheney, Esq. 

13.5 Dispute Resolution. 

13.5.1 Disputes. In the event of any controversy or claim arising from or relating to any provision of this Agreement, or any
term or condition hereof, or the performance by a Party of its obligations hereunder, or its construction or its actual or alleged breach, the Parties will try to settle their differences amicably between themselves. All unresolved disputes arising
under or related to this Agreement shall be submitted to final and binding arbitration under the commercial arbitration rules of the International Chamber of Commerce (the “ICC”). The site of arbitration shall be Tokyo, if
KHK is the respondent, and Boston, if DICERNA is the respondent. The panel of arbitrators will be comprised of one arbitrator chosen by KHK, one by DICERNA and the third by the two so chosen. If either, or both, of KHK or DICERNA fails to choose an
arbitrator or arbitrators within [***] after receiving notice of commencement of arbitration or if the two arbitrators fail to choose a third arbitrator [***] after their appointment, then either or both Parties shall immediately request that the
ICC select the remaining number of arbitrators to be selected, which arbitrator(s) shall have the requisite scientific background, experience and expertise. 

  
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 13.5.2 Additional Procedures. Either Party may apply to the arbitrators for
interim injunctive relief until the arbitration decision is rendered or the dispute is otherwise resolved. Either Party also may, without waiving any right or remedy under this Agreement, seek from any court having jurisdiction any injunctive or
provisional relief necessary to protect the rights or property of that Party pending resolution of the dispute pursuant to this Section 13.5. The arbitrators shall have no authority to award punitive or any other type of damages not measured by
a Party’s compensatory damages. Each Party shall bear its own costs and expenses and attorneys’ fees in connection with any such arbitration; provided, that, the non-prevailing Party shall pay the costs and expenses incurred by the
prevailing Party in connection with any such arbitration, including reasonable attorneys’ fees and costs. 
 13.5.3
Non-Disclosure. Except to the extent necessary to confirm an award or decision or as may be required by Applicable Laws, neither Party nor any arbitrator may disclose the existence or results of any arbitration without the prior
written consent of both Parties. In no event shall any arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute would be barred by the applicable New York statute of limitations. 

13.5.4 Termination of Agreement. In the event of a dispute involving the alleged breach of this Agreement (including, without
limitation, whether a Party has satisfied its diligence obligations hereunder), neither Party may terminate this Agreement until resolution of the dispute pursuant to this Section 13.5. 

13.5.5 Decision of Arbitrators. The decision of the arbitrators shall be the sole, exclusive and binding remedy between the
Parties regarding the determination of all disputes presented. Any monetary payment to be made by a Party pursuant to a decision of the arbitrators shall be made in United States dollars, free of any tax or other deduction. 

13.6 Choice of Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York and
the United States without reference to any rules of conflict of laws. 
 13.7 Entire Agreement. This Agreement (including all
Schedules and Exhibits hereto) constitutes the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all previous arrangements with respect to the subject matter hereof, whether written or oral. Any amendment
or modification to this Agreement shall be made in writing signed by both Parties. In the event of any conflict between the terms of this Agreement and the Research Collaboration Plan, the terms of this Agreement shall govern. 

  
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 13.8 Headings. The captions to the several Articles and Sections hereof
are not a part of the Agreement, but are merely guides or labels to assist in locating and reading the several Articles and Sections hereof. 

13.9 Independent Contractors. It is expressly agreed that the Parties will be independent contractors and that the
relationship between the Parties will not constitute a partnership, joint venture or agency. No Party will have the authority to make any statements, representations or commitments of any kind, or to take any action, which will be binding on the
other Parties, without the prior consent of such other Parties. Members of the JSC and the JRC shall be and shall remain employees of KHK or DICERNA as the case may be. DICERNA shall not incur any liability for any act or failure to act by employees
of KHK, including members of the JSC or JRC who are employees of KHK. KHK shall not incur any liability for any act or failure to act by employees of DICERNA, including members of the JSC or JRC who are employees of DICERNA. 

13.10 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 carry out the purposes and intent of this Agreement.  
 13.11
Special Covenant: City of Hope. [***]. 
 13.12 Waiver. The waiver by a Party hereto of any right
hereunder or the failure to perform or of a breach by another Party will not be deemed a waiver of any other right hereunder or of any other breach or failure by said other Party whether of a similar nature or otherwise. 

13.13 Jointly Prepared. This Agreement has been prepared jointly and shall not be strictly construed against either
Party. 
 13.14 Purposes and Scope. The Parties hereto understand and agree that the Research Collaboration is
limited to the activities, rights and obligations as set forth in this Agreement. Nothing in this Agreement shall be construed (a) to create or imply a general partnership between the Parties, (b) to make either Party the agent of the
other for any purpose, (c) to alter, amend, supersede or vitiate any other arrangements between the Parties with respect to any subject matters not covered hereunder, (d) to give either Party the right to bind the other, (e) to create
any duties or obligations between the Parties except as expressly set forth herein, or (f) to grant any direct or implied licenses or any other right other than as expressly set forth herein. 

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

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

									
	DICERNA PHARMACEUTICALS, INC.	 		 	KYOWA HAKKO KIRIN CO. LTD.
					
	By:	 	 /s/ James C. Jenson
	 		 	By:	 	[***]
	Name:	 	 James C. Jenson
	 		 	Name:	 	[***]
	Title:	 	 President and CEO
	 		 	Title:	 	[***]

  
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 SCHEDULE 2-A 

DICERNA BACKGROUND DDS PATENT RIGHTS 
  

													
	Title	  	Filing Date	  	Priority
Date	  	Application
Serial
Number	  	Status	  	Assignee	  	Earliest
Expiry

 [***] 

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 SCHEDULE 2-B 

DICERNA BACKGROUND DICER SUBSTRATE PATENT RIGHTS 
  

															
	Title	  	Country	  	Application
Number	  	Filing Date	  	Priority
Date	  	Earliest
Expiry	  	Status	  	Assignee

 [***] 

  

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 SCHEDULE 2-C 

DICERNA KRAS PATENT RIGHTS 

[***] 

  

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 SCHEDULE 3-A 

IN VIVO RESEARCH COMPOUND SELECTION CRITERIA 

[***] 

  

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 SCHEDULE 3-B 

IN VITRO TARGET SELECTION CRITERIA 

[***] 

  

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 SCHEDULE 3-C 

DEVELOPMENT CRITERIA 

[***] 

  

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 SCHEDULE 4 

KHK BACKGROUND PATENT RIGHTS 

[***] 

  

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 SCHEDULE 5-A 

PROGRAM TARGET LIST 
 1. KRAS 

KRAS Gene and its encoded protein including wild type, oncogenic mutant, and alternative spliced isoforms (K-rasA and K-rasB). 

“KRAS Gene” means the gene identified as follows: [***]. 

  

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 SCHEDULE 5-B 

[***] TARGET LIST 

[***] 

  

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 SCHEDULE 7 

MATERIAL TERMS TO BE INCLUDED IN 

FORM OF CO-PROMOTION AGREEMENT 

1. Co-Promotion Period 
 For as long as Co-Promoted
Products are sold in the Co-Promotion Territory. 
 2. Respective Share of Promotion Efforts 

Fifty/Fifty (50/50) share of total Detailing activity to be contributed by each Party. [***] “Detail” means, with respect to a Co-Promoted
Product, [***]. When used as a verb, “Detailing” means performing Details and when used as an adjective, “Detailing” means of or related to performing Details. 

3. Sub-License 
 [***] 

4. IND/NDA 
 KHK to have sole responsibility and authority
over submission of IND/NDA for the Licensed Product, and KHK shall be the holder of FDA marketing approval. 
 5. Product Manufacture 

KHK shall have sole responsibility and authority regarding manufacture of the Licensed Product. KHK shall be entitled to [***]. 

6. Booking of Sales 
 All sales of the Licensed Product in
the US shall be booked as sales by KHK. 
 7. Distribution/Logistics 

KHK to handle arrangement of distribution channels and logistics. 

8. Setting and Management of Product Price 
 9. Reports

 KHK shall provide [***] sales reports to DICERNA. 

  

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 10. Profit Calculation Method 

[***].  
 11. Adverse Event Reporting 

KHK shall prepare, maintain and manage data base. [***]. 
 12.
Governance 
 A Joint Marketing Committee (JMC) will be established to (a) monitor the progress of Co-Promotion of Co-Promoted
Products; (b) review and circulate to the Parties data, reports or other information submitted by either Party with respect to the Co-Promotion of Co-Promoted Products; (c) reconcile issues between the Parties with respect to the
Parties’ respective share of profit (loss) with respect to Co-Promoted Products; (d) prepare or direct the preparation by the Parties of short-term and long-term sales forecasts for Co-Promoted Products; (e) determine appropriate
Co-Promotion target audience for sales force staffing and territory mapping purposes, determining the appropriate level for, and allocation of Co-Promotion activities to, each Party and coordinating the conduct of sales calls and sales training of
both Parties with respect to Co-Promoted Products. KHK shall handle any filings, reports, negotiations with regulatory authorities. [***]. 
 13.
Co-Promotion Plan. 
 Within [***] of the date of exercise by DICERNA of a Co-Promotion Option, the JMC shall prepare a Co-Promotion Plan
for each Co-Promoted Product for the Co-Promotion Territory. The Co-Promotion Plan shall include [***]. 
 14. Audit of Development Costs. 

KHK shall keep and maintain complete and accurate records of all Development Costs incurred in the development of Co-Promoted Products in
sufficient detail to allow confirmation of same by an independent certified public accountant. DICERNA shall have the right for a period of [***] after exercise of its Co-Promotion Option to appoint at its expense an independent certified public
accountant reasonably acceptable KHK to audit the relevant records of KHK or its Affiliates to verify that the amount of such Development Costs have been correctly determined. 

  

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 15. Audit of Commercialization Expenses. 

Each Party shall keep and maintain for [***] complete and accurate records of all commercialization expenses incurred in connection with the
commercialization of Co-Promoted Products in sufficient detail to allow confirmation of same by an independent certified public accountant. Each Party shall have the right for a period of [***] after such commercialization expenses are incurred, to
appoint at its expense an independent certified public accountant reasonably acceptable to the other Party to audit the relevant records of such Party to verify that the amount of commercialization expenses incurred have been correctly determined.

  

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 SCHEDULE 8 

FORM OF PRESS RELEASE 
 Media
Contacts: 
 For Dicerna: 
 Martin Williams, SVP &
Chief Business Officer 
 Dicerna Pharmaceuticals 
 +1
(617) 621-8097 
 Michele Rozen 
 Pure Communications,
Inc. 
 +1 (617) 953-2214 
 Dicerna signs
Research Collaboration and License Agreement for Drug Delivery Systems and Dicer Substrate siRNA (DsiRNA) Pharmaceuticals with Kyowa Hakko Kirin 

WATERTOWN, Mass. – January 4th, 2010 – Dicerna Pharmaceuticals, Inc., (Dicerna) a second generation RNA interference (RNAi) company
developing novel therapeutics utilizing its proprietary Dicer Substrate TechnologyTM and Dicer Substrate siRNA (DsiRNA) molecules, and Kyowa Hakko Kirin Co., Ltd. (TSE: 4151) (Kyowa Hakko Kirin), one of Japan’s leading biopharmaceutical
companies, announced today that the two companies have entered into a research collaboration and license agreement for the research, development and commercialization of drug delivery systems and DsiRNA pharmaceuticals for therapeutic targets in
oncology. 
 “We are very pleased to enter into this exciting collaboration with Kyowa Hakko Kirin,” said James C. Jenson, Ph.D., chief executive
officer and co-founder of Dicerna. “This partnership is a further validation of Dicerna’s proprietary Dicer Substrate Technology platform and our unique ability to generate a greater number of more potent molecules. This collaboration
provides us with the opportunity to develop novel Dicer Substrate siRNA therapies and related drug delivery systems while working with an innovative biopharmaceutical partner.” 

Under the terms of the collaboration, Dicerna will receive $4 million in upfront cash payments including research funding, and up to $120 million in
additional research funding, development and commercial milestones for exclusive rights to one target in the field of oncology. According to the progress of the research collaboration, Kyowa Hakko Kirin and

  

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Dicerna may expand the scope of the collaboration by adding approximately up to ten targets under similar terms and may broaden the therapeutic focus of the partnership. Dicerna is entitled to
royalty payments on sales from products for these targets. Dicerna also has an option to equally co-promote and profit-share (50:50) in the United States for the initial target. 

“Dicer Substrate TechnologyTM is a highly promising approach to provide innovative RNAi-based
therapeutics. Combining with our drug delivery system will enable us to jointly offer new treatments for cancer as well as other diseases.” said Etsuo Ohshima, Ph.D., Managing Officer and Vice President of Research Division at Kyowa Hakko
Kirin. “This collaboration addresses to reinforce the possibility of DsiRNA-based medicines by means of specific delivery to tumors or certain tissues. We believe that this endeavor to modulate intracellular targets can be complementary to our
own antibody-based approach featuring POTELLIGENT® technology to cell surface targets. Dicerna will be an important partner for Kyowa Hakko Kirin to open an opportunity of new medications for
patients.” 
 “We look forward to a very productive partnership with our colleagues at Kyowa Hakko Kirin, a company with an interest in RNA
interference therapeutics,” said Martin D. Williams, chief business officer at Dicerna. “We have been impressed by Kyowa Hakko Kirin’s experience with gene silencing and drug delivery systems. In Kyowa Hakko Kirin, we believe we have
found a partner who shares our vision of the importance of bringing this important new therapeutic category to market, and commitment to develop DsiRNA-based medicines for the benefit of patients.” 

About Kyowa Hakko Kirin 
 Kyowa Hakko Kirin Co., Ltd., had
a new start in October 2008 following the merger of Kyowa Hakko Kogyo Co., Ltd. and Kirin Pharma Co., Ltd., with the aim of becoming a global specialty pharmaceutical company that creates innovative new drugs. To that end, Kyowa Hakko Kirin is
integrating and enhancing the antibody technologies and other advanced technologies and assets that were developed by its predecessor companies. As an R&D-centered company with a strong foundation in biotechnology, Kyowa Hakko Kirin is focusing
its core business areas of pharmaceuticals and bio-chemicals to create new value in the life sciences and to contribute to the health and well-being of people around the world. 

About Dicer Substrate RNAi 
 First described in plants and
then in worms, flies and higher organisms, RNA interference (RNAi) is a key cellular mechanism regulating gene expression in both normal and disease processes. Dicer is a critical enzyme involved in the gene-silencing cascade. Dicer processing

  

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of double-stranded RNA oligonucleotides of 25 or more base pairs and hand-off to the gene-silencing complex (RISC) results in significantly more potent activity and longer duration of action.

 About Dicerna 
 Dicerna Pharmaceuticals is a private,
venture-backed RNAi-focused biopharmaceutical company developing novel therapeutic agents in multiple disease areas based on its proprietary Dicer Substrate TechnologyTM platform. Dicerna is developing second generation RNAi-based therapies, and
related drug delivery systems, that use the engagement of the enzyme Dicer, which is an earlier step in the gene silencing process and a natural initiation point for the RNAi cascade. This distinct biological pathway demonstrates greater potency and
a longer duration of action, differentiating it from other RNAi approaches, and resulting in the knockdown of expression of a targeted gene in a way that is highly selective and specific. Dicerna believes that its Dicer Substrate Technology is based
on intellectual property that is both broadly enabling and distinct from other IP in the field. Dicerna has exclusive, worldwide rights to the Dicer Substrate Technology and has the sole right to grant sublicenses to the full portfolio of Dicer
Substrate intellectual property. Dicerna is based in Watertown, Massachusetts. For more information, please visit www.dicerna.com. 

  

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 EXHIBIT A 

RESEARCH COLLABORATION PLAN 

[***] 

  

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 AMENDMENT NO. 1 TO 

RESEARCH COLLABORATION AND LICENSE AGREEMENT 

This Amendment No. 1 to the RESEARCH COLLABORATION AND LICENSE AGREEMENT (this “Amendment”) is entered into as of
December 2, 2010 (the “Amendment Effective Date”) by and between DICERNA PHARMACEUTICALS, INC., a corporation organized and existing under the laws of Delaware (“DICERNA”), and KYOWA HAKKO KIRIN CO. LTD., a
corporation organized and existing under the laws of Japan (“KHK”). DICERNA and KHK are each hereafter referred to individually as a “Party” and together as the “Parties.” Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the RESEARCH COLLABORATION AND LICENSE AGREEMENT entered into as of December 21, 2009 (the “Original Agreement Effective
Date”), by and between DICERNA and KHK (the “Agreement”). 
 WHEREAS, the Parties desire to amend the terms
of the Agreement in order to clarify the understanding of the Parties with respect to the use and ownership of certain intellectual property to be used in certain research to be conducted under the Agreement and the terms applicable to the screening
and selection by KHK of a certain target as a [***]Target pursuant to the Agreement on the terms and subject to the conditions set forth herein; and 

WHEREAS, KHK has requested that [***] be included in the Research Collaboration as a [***] Target [***], subject to the payment by KHK of the
[***] applicable thereto set forth in Section 7.2.5 of the Agreement; and 
 WHEREAS, in connection therewith, the Parties have agreed
to amend Schedule 5-C of the Agreement to include [***] as a [***] Target in accordance with Section 4.1(c)(i) of the Agreement, which amended Schedule 5-C is attached hereto. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the Parties hereto,
intending to be legally bound, hereby agree as follows: 
 1. Amendments to Agreement. 

(a) The following new definitions are hereby included in Article 1 and the remaining definitions in Article 1 are hereby renumbered
accordingly: 
 “1.38 “DICERNA Background [***] Technology” means any Know-How Controlled by
DICERNA that relates to any [***] and that is used by DICERNA, or provided by DICERNA for use, in this Agreement. For purposes of clarity, DICERNA Background [***] Technology shall not include DICERNA Program Technology or DICERNA’s interest in
Joint Technology. For purposes of this definition only, “Controlled” means, with respect to any Know-How that DICERNA licenses from a Third Party, the ability of DICERNA to grant a sublicense to such Know-How without violating the
license agreement with, and without the payment by DICERNA of any additional consideration to, the Third Party licensor. 

  
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 “1.60 “Feasibility Study” means the research
activities to be carried out by DICERNA and KHK with respect to [***] described in the Research Collaboration Plan attached hereto as Exhibit B. For purposes of clarity, the Feasibility Study shall not include the Target Confirmation Study.

 “1.64 “Feasibility Study Term” means the period beginning on the date of [***] and continuing
for a period of [***], unless mutually shortened or extended by the Parties. 
 “1.65 “Feasibility Study Success
Criteria” means the qualitative and/or quantitative required Criteria as described in Exhibit B applicable to [***] in order to determine whether to advance [***] to a Target Confirmation Study. 

“1.66 “KHK Background [***] Technology” means any Know-How Controlled by KHK that relates to any
[***] and that is used by KHK, or provided by KHK for use, in this Agreement. For purposes of clarity, KHK Background [***] Technology shall not include KHK Program Technology or KHK’s interest in Joint Technology. For purposes of this
definition only, “Controlled” means, with respect to any Know-How that KHK licenses from a Third Party, the ability of KHK to grant a sublicense to such Know-How without violating the license agreement with, and without the payment
by KHK of any additional consideration to, the Third Party licensor. 
 “1.67 “KHK Background [***]
Technology” means any Know-How Controlled by KHK that relates to any [***]. For purposes of clarity, KHK Background [***] Technology shall not include KHK Program Technology or KHK’s interest in Joint Technology. For purposes
of this definition only, “Controlled” means, with respect to any Know-How that KHK licenses from a Third Party, the ability of KHK to grant a sublicense to such Know-How without violating the license agreement with, and without the
payment by KHK of any additional consideration to, the Third Party licensor. 
 “1.68 “KHK Background [***]
Patent Rights” means any Patent Rights Controlled by KHK during the Term that contain one or more claims that cover KHK Background [***] Technology. For purposes of clarity, (a) KHK Background [***] Patent Rights shall not
include KHK Program Patent Rights, and (b) attached hereto as Schedule 4-B is a complete and accurate list of all KHK Background [***] Patent Rights Controlled by KHK as of the Amendment Effective Date. 

“1.69 “[***]” means [***]. 

“1.70 “Target Confirmation Study” means the research activities to be carried out by DICERNA and KHK
with respect to [***] described in the Research Collaboration Plan attached hereto as Exhibit C following the achievement by [***] of the Feasibility Study Success Criteria. For purposes of clarity, the Target Confirmation Study shall not
include the Feasibility Study. 

  
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 “1.71 “Target Confirmation Study Criteria” means the
qualitative and/or quantitative required Criteria as described in Exhibit C for [***] applicable to the conduct of the Target Confirmation Study. 

“1.72 “Target Confirmation Study Term” means, with respect to [***], the period beginning on [***] and continuing
for a period of [***], unless mutually shortened or extended by the Parties. 
 “1.73 “Tertiary Field” means
human pharmaceutical use for the treatment of [***]. 
 (b) The definition of Field in Section 1.60 of the Agreement is hereby deleted
in its entirety and the following is hereby inserted in lieu thereof: 
 “1.60 “Field” means, collectively, the
Primary Field, the Secondary Field and the Tertiary Field. 
 (c) The following definitions in Sections 1.43 and 1.81, respectively, of the
Agreement are hereby amended as set forth below, by adding the respective underlined portions to each otherwise unchanged provision, as follows: 

“1.43 “DICERNA Program Technology” means (a) any Program Technology that (i) is not KHK Program
Technology and (ii) is conceived or first reduced to practice by employees of, or consultants to, DICERNA, alone or jointly with any Third Party, without the use in any material respect of any KHK [***] DDS Technology, KHK Patent Rights or
Joint Technology; and (b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or consultants to, DICERNA, KHK, or jointly by both Parties, that relates to, or constitutes, DICERNA Background
Dicer Substrate Technology, DICERNA Background [***] Technology or DICERNA Background Dicer Substrate Patent Rights. 
 “1.81
“KHK Program Technology” means (a) any Program Technology that (i) is not DICERNA Program Technology and (ii) is conceived or first reduced to practice by employees of, or consultants to, KHK alone or jointly
with any Third Party, without the use in any material respect of any DICERNA Technology, DICERNA Patent Rights or Joint Technology; and (b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or
consultants to, DICERNA, KHK or jointly by both Parties, that relates to or constitutes the KHK [***] DDS Technology, KHK Background [***] Technology, KHK Background [***] Patent Rights, KHK Background [***] Technology and/or KHK Background Patent
Rights. 

  
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 (d) The definition of Joint Technology in Section 1.77 of the Agreement is hereby
deleted in its entirety and the following is hereby inserted in lieu thereof: 
 “1.77 “Joint Technology” means
any Program Technology, other than DICERNA Program Technology or KHK Program Technology, that is (a) jointly conceived or reduced to practice by employees of, or consultants to, KHK and employees of, or consultants to, DICERNA,
(b) conceived or reduced to practice solely by employees of, or consultants to, a Party through the use in any material respect of any Technology or Patent Rights of the other Party or (c) a new composition of matter consisting of [***].
For purposes of clarity, Joint Technology includes, but is not limited to, (i) data and information obtained under the Research Collaboration and (ii) any Program Technology, other than DICERNA Program Technology or KHK Program Technology,
with respect to any [***].” 
 (e) The definition of Research Collaboration Plan in Section 1.109 of the Agreement is hereby
deleted in its entirety and the following is hereby inserted in lieu thereof: 
 “1.109 “Research Collaboration
Plan” means each written plan (a) describing the research activities to be carried out by the Parties during the Research Collaboration Term in conducting the Research Collaboration pursuant to this Agreement, and (b) setting
forth all Criteria applicable to each Research Compound that is part of such Research Collaboration. For purposes of clarity, the Research Collaboration Plan shall include the research activities to be carried out by DICERNA and KHK with [***] as
part of the Feasibility Study and Target Confirmation Study, as described on Exhibit B and Exhibit C attached hereto and incorporated herein by reference.” 

(f) Section 2.2(a) of the Agreement is hereby amended to read as follows, by adding the underlying portion to the otherwise unchanged
provision: 
 “(a) KHK [***] DDS Technology or KHK [***]Technology; 

(g) The following new Section 4.1(c)(iv) is hereby included in Section 4.1(c) of the Agreement: 

(iv) Feasibility Study; Target Confirmation Study. 

(A) Conduct of Feasibility Study. As soon as practicable following the payment by KHK of the applicable [***] as a
[***]Target pursuant to Section 4.1(c)(i), the Parties will initiate a Feasibility Study with [***] according to the Research Collaboration Plan attached hereto as Exhibit B. During the Feasibility Study Term, each Party shall use
Commercially Reasonable Efforts to conduct the research activities for which it is responsible in accordance with such Research Collaboration Plan. Without limiting the foregoing, the obligations of the Parties set forth in Sections 3.6.2
through 3.6.9 shall apply to each of the Parties in its conduct of such research activities. 
 (B) Conduct of Target
Confirmation Study. KHK shall have the right, in its sole discretion and at any time during the Feasibility Study Term, based on the applicable Feasibility Study Success Criteria and the results of the

  
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Feasibility Study, to determine to proceed with a Target Confirmation Study with respect to [***] (the “Target Confirmation Research Activities”) by providing written
notice to DICERNA (the “Target Confirmation Study Notice”). As soon as practicable following the receipt by DICERNA of such Target Confirmation Study Notice, the Parties shall (1) prepare an amendment to the Research
Collaboration Plan to describe the additional research activities to be conducted and the additional Criteria applicable thereto and (2) promptly initiate such additional research activities. A brief outline of the currently contemplated
content of such research activity is attached hereto as Exhibit C, to be revised and completed in more detail by the Parties if KHK elects to proceed. Each Party shall use Commercially Reasonable Efforts to conduct such additional
research activities for which it is responsible in accordance with such Research Collaboration Plan, as so amended. Without limiting the foregoing, the obligations of the Parties set forth in Sections 3.6.2 through 3.6.9 shall apply to each of the
Parties in its conduct of such research activities. 
 (h) Section 4.1(c)(ii) of the Agreement is hereby renumbered as
Section 4.1(c)(ii)(A) and new Sections 4.1(c)(ii)(B),(C) and (D) are hereby added to Section 4.1(c)(ii) as follows: 

(B) [***]. 

(C) [***]. 

(D) Study Results. For purposes of clarity (a) the Parties hereby acknowledge and agree, in accordance with
Section 1.77, that (1) all data and information obtained or produced in the conduct of the Feasibility Study and/or the Target Confirmation Study (the “Study Results”) shall be jointly owned by the Parties and
(2) subject to subsection (b) below, neither Party shall cause or allow any Study Results to be published without the prior written consent of the other Party; and (b) notwithstanding anything to the contrary in Section 10.4,
Section 1.77 or subsection (D)(a) above, on and after the date on which [***] becomes a Waived Target pursuant to this Agreement, (1) DICERNA shall solely own the Study Results and have the sole right to use such Study Results for any and
all purposes, inside or outside of this Agreement, without restriction, (2) DICERNA shall be deemed to have granted KHK the right to use such Study Results solely for internal research purposes and (3) as between the Parties, DICERNA shall have
the sole right to publish such Study Results; provided, that, (i) any contribution of KHK to the Study Results shall be duly recognized and co-authorship shall be determined in accordance with customary industry standards and (ii) to the
extent that any such Study Results to be published contain any Confidential Information of KHK, including without limitation KHK [***] DDS Technology or KHK Program Technology, DICERNA shall obtain the prior written consent of KHK to such
publication. 

  
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 (i) Section 6.1 of the Agreement is hereby deleted in its entirety and the following is
hereby inserted in lieu thereof: 
  

	 	“6.1	Licenses to KHK. 

 (a) DICERNA hereby grants to KHK and its Affiliates a
royalty-bearing license to (i) DICERNA Background Dicer Substrate Patent Rights, DICERNA Background Dicer Substrate Technology, DICERNA Program Patent Rights, DICERNA Program Technology, DICERNA KRAS-Specific Patents, DICERNA Background [***]
Technology and DICERNA’s interest in Joint Technology and Joint Patent Rights and (ii) to DICERNA Background DDS Patent Rights and DICERNA Background DDS Technology, solely to the extent such DICERNA Background DDS Patent Rights (the
Patent Rights described in (i) and (ii) above being referred to collectively as the “DICERNA Patent Rights”) and such DICERNA Background DDS Technology (the Technology described in (i) and (ii) above being
referred to collectively as the “DICERNA Technology”) are selected by KHK for a Research Compound or Licensed Product, in any case, to the extent necessary to research, develop, make, have made, use, offer for sale, sell and
import Research Compounds and Licensed Products (A) in the Primary Field (with respect to Research Compounds and Licensed Products for the Initial Target, subject to the payment of the applicable fee herein), (B) in the Secondary Field
(with respect to Research Compounds and Licensed Products for the Initial Target, subject to the payment by KHK of [***]), (C) subject to the payment by KHK of all applicable payments required under this Agreement, including the payment of the
applicable Lead Transfer Milestone, in the Secondary Field (with respect to Research Compounds and Licensed Products for any [***] Target and [***] Target), and (D) subject to the exercise by KHK of its [***] Right pursuant to
Section 4.1(c)(ii)(C), in the Tertiary Field (with respect to Research Compounds and Licensed Products for the applicable [***] Target), in each case in the Territory. Such licenses shall (a) be exclusive for the Initial Target in the
Primary Field and in the Secondary Field, subject to the payment by KHK of [***], exclusive for the [***] Targets, the [***] Targets and the [***] Target in the Secondary Field and exclusive for the [***] Target in the Tertiary Field, other than
Waived Targets; provided, that, DICERNA shall, and hereby does, reserve all rights under DICERNA Patent Rights and DICERNA Technology necessary for it to undertake research as part of the Research Collaboration and to Co-Promote Co-Promoted
Products, and (b) include the right for KHK and its Affiliates to grant sublicenses to Third Parties in accordance with Section 6.2.” 

(b) Limited Research License to KRAS. DICERNA hereby grants to KHK a non-exclusive, royalty-free license to DICERNA Patent Rights and
DICERNA Technology solely for the purpose of having KHK conduct, and solely to the extent necessary for KHK to conduct, research in the Tertiary Field using KRAS DsiRNA (including without limitation the prototype KRAS 1.1 which has already been
provided by DICERNA to KHK) in the conduct of the Feasibility Study as set out in Exhibit B. 

  
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 (j) Section 6.3 of the Agreement is hereby deleted in its entirety and the following is
hereby inserted in lieu thereof: 
  

	 	“6.3	License to DICERNA. KHK hereby grants to DICERNA a nonexclusive, royalty-free license to KHK Background Patent Rights, KHK Background [***] Technology, KHK Background [***] Technology, KHK Background [***]
Patent Rights, KHK Program Patent Rights and KHK’s interest in Joint Technology and Joint Patent Rights solely for the purpose of and to the extent necessary for DICERNA to perform its obligations under this Agreement, including in order for
DICERNA to undertake research as part of the Research Collaboration and to Co-Promote Co-Promoted Products; provided, that, the foregoing shall not include a license to KHK [***] DDS Technology unless such KHK [***] DDS Technology is selected by KHK
for a Research Compound. 

 (k) A new Section 6.5 is hereby inserted in the Agreement: 

 

	 	“6.5	Negotiation Right. In the event that either Party desires to obtain an exclusive license to use any [***] that is included within Joint Technology or Joint Patent Rights for a purpose other than in
connection with a Research Compound or a Licensed Product, such Party shall provide written notice to the other Party, which notice shall identify the [***] and the proposed field of use. As promptly as possible following the delivery of such
notice, the Parties shall commence the negotiation in good faith of the terms under which the other Party would grant an exclusive license under its interest in the applicable Joint Technology and/or Joint Patent Rights to the notifying Party with
respect to the [***] and field of use identified in the notice, which negotiations shall continue for a period not to exceed [***] from the date of the notice. If the Parties are unable to reach agreement on the terms of any such exclusive license
on or before the expiration of such [***] negotiation period (as such period may be extended by mutual agreement of the Parties), the other Party shall have no further obligation to negotiate with the notifying Party with respect to the grant of
such exclusive license. 

 (l) A revised Schedule 5-C is hereby added to the Agreement in substantially the form of
Schedule 5-C attached hereto in substitution of the existing Schedule 5-C attached to the Agreement. 

  
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 (m) A new Exhibit B is hereby added to the Agreement in substantially the form of
Exhibit B attached hereto. 
 (n) A new Exhibit C is hereby added to the Agreement in substantially the form of Exhibit
C attached hereto. 
 2. Press Release. The Parties have agreed to the wording of a press release in connection with the
execution and delivery of this Amendment as set forth in Exhibit 1 attached hereto. 
 3. Miscellaneous. The
Parties hereby confirm and agree that, except as amended hereby, the Agreement shall remain in full force and effect and is a binding obligation of the Parties. This Amendment may be executed simultaneously in two or more counterparts, each of which
shall be deemed an original. 
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 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by their duly
authorized representatives. 
  

									
	DICERNA PHARMACEUTICALS, INC.	 		 	KYOWA HAKKO KIRIN CO. LTD.
					
	By:	 	 /s/ Martin D. Williams
	 		 	By:	 	[***]
	Name:	 	 Martin D. Williams
	 		 	Name:	 	[***]
	Title: 	 	 Senior Vice President,
	 		 	Title:	 	[***]
		 	 Chief Business Officer
	 		 		 	[***]

  
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 SCHEDULE 4-B 

KHK BACKGROUND [***] PATENT RIGHTS 
  

															
	 Title
	  	Country	  	Application
No.	  	Application
Date	  	Date of Grant	  	Patent No	  	Expiration
Date	  	Status

 [***] 

  

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 SCHEDULE 5-C 

[***] TARGET LIST 
 [***] 

  

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 EXHIBIT B 

[***] RESEARCH COLLABORATION PLAN 

[***] 

  

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 EXHIBIT C 

OUTLINE OF TARGET CONFIRMATION STUDY 

[***] 

  

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 EXHIBIT 1 

FORM OF PRESS RELEASE 

Contacts: 
 Martin Williams, SVP & Chief Business
Officer 
 Dicerna Pharmaceuticals 
 (617) 621-8097 

Michele Rozen 
 Pure Communications, Inc. 

(617) 953-2214 
 Dicerna Pharmaceuticals
and Kyowa Hakko Kirin Expand Dicer Substrate Technology 
 Partnership into Immunologic and Inflammatory Diseases 

WATERTOWN, Mass., December XX, 2010 – Dicerna Pharmaceuticals, Inc. (Dicerna), a second generation RNA interference (RNAi) company developing
novel therapeutics utilizing its proprietary Dicer Substrate TechnologyTM and Dicer Substrate siRNA (DsiRNA) molecules, and Kyowa Hakko Kirin Co., Ltd. (TSE: 4151) (Kyowa Hakko Kirin), one of
Japan’s leading biopharmaceutical companies, announced today the expansion of their ongoing research collaboration into the new therapeutic area of immunologic and inflammatory diseases. In January 2010, the companies announced a research
collaboration and license agreement worth up to $1.4 billion for the research, development and commercialization of DsiRNA pharmaceuticals and drug delivery systems for therapeutic targets in oncology. 

“We are pleased to broaden our current research collaboration and license agreement with Kyowa Hakko Kirin into the areas of immunology and
inflammation,” said Douglas M. Fambrough, Ph.D., chief executive officer of Dicerna. “This new agreement is a vote of confidence in Dicerna and in the promise of our DsiRNA molecules, which have demonstrated superior potency and longer
duration of action in preclinical models, and have the potential to overcome the limitations of other RNAi approaches.” 
 Under the terms of the
expanded agreement, Dicerna will receive a cash payment for exercise by Kyowa Hakko Kirin of an option to bring an additional target into the collaboration. With this expanded collaboration, Dicerna will be actively working in the therapeutic areas
of oncology, endocrinology, immunology and inflammation. 
 “Immunology and inflammation are strategically important fields of research for Kyowa Hakko
Kirin, and we are committed to expanding our RNAi-focused research and development efforts with Dicerna into these additional therapeutic areas,” said Etsuo Ohshima, Ph.D., managing officer and vice president, head, research division at Kyowa
Hakko Kirin. “We are very pleased with the relationship and progress of our collaboration with Dicerna to date, and look forward to working closely with the company to develop DsiRNA-based medicines that treat patients with unmet medical needs
in these disease areas.” 

  

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 About Kyowa Hakko Kirin 

Kyowa Hakko Kirin Co., Ltd., had a new start in October 2008 following the merger of Kyowa Hakko Kogyo Co., Ltd. and Kirin Pharma Co., Ltd., with the aim of
becoming a global specialty pharmaceutical company that creates innovative new drugs. To that end, Kyowa Hakko Kirin is integrating and enhancing the antibody technologies and other advanced technologies and assets that were developed by its
predecessor companies. As an R&D-centered company with a strong foundation in biotechnology, Kyowa Hakko Kirin is focusing its core business areas of pharmaceuticals and bio-chemicals to create new value in the life sciences and to contribute to
the health and well-being of people around the world. 
 About Dicer Substrate RNAi 

Dicer is a critical enzyme involved in the RNAi gene silencing cascade and acts as the natural initiation point for this pathway by processing double-stranded
RNA so that it can be used for gene silencing. Dicer then delivers these modified small RNA molecules to the mature gene silencing complex. Dicerna’s synthetic Dicer Substrate siRNA (DsiRNA) molecules are 25 or more base pairs in length and are
processed by Dicer. By utilizing this distinct early entry point into the pathway, DsiRNA molecules have greater potency and longer duration of action than other RNAi approaches. In addition, DsiRNA molecules have enhanced delivery potential because
their structure creates a natural conjugation point for cellular targeting agents. 
 About Dicerna 

Dicerna Pharmaceuticals is a private, venture-backed RNAi-focused biopharmaceutical company developing novel therapeutic agents and related drug delivery
systems in multiple disease areas based on its proprietary Dicer Substrate TechnologyTM platform and Dicer Substrate siRNA (DsiRNA) molecules. Dicer Substrate Technology is a second generation
RNAi approach that results in greater potency, longer duration of action and enhanced delivery potential, differentiating it from other RNAi approaches. Dicerna believes that its Dicer Substrate Technology is based on intellectual property that is
both broadly enabling and distinct from other IP in the field. Dicerna has a major alliance with Kyowa Hakko Kirin for DsiRNA pharmaceuticals and drug delivery systems focused in oncology, immunology and inflammation. The company also has a
partnership with Ipsen to research and develop novel DsiRNA therapeutics with targeted delivery in oncology and endocrinology. Dicerna is based in Watertown, Massachusetts. For more information, please visit www.dicerna.com. 

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