Document:

EX-4.2

 Exhibit 4.2 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT (this “Agreement”) is made and entered into as of April 15, 2021, by and among Janux Therapeutics, Inc., a Delaware corporation (the “Company”), and the
investors set forth on the Schedule of Investors attached hereto as Schedule A (each, an “Investor” and collectively, the “Investors”). This Agreement amends and restates and supersedes in its entirety
that certain Amended and Restated Investors’ Rights Agreement executed by the Company and certain of the Investors on March 1, 2021 (the “Prior Agreement”). 

RECITALS 

WHEREAS, the Company and certain of the Investors are parties to that certain Series B
Preferred Stock Purchase Agreement, dated as of even date herewith (the “Purchase Agreement”); 

WHEREAS, the Company and certain of the undersigned Investors together constitute the Requisite Holders (as defined in
the Prior Agreement) and desire to, on behalf of the undersigned and all other parties to the Prior Agreement, amend and restate and supersede in its entirety the Prior Agreement and to accept the rights and covenants herein, in lieu of their rights
and covenants under the Prior Agreement; 
 WHEREAS, the obligations in the Purchase
Agreement are conditioned upon execution and delivery of this Agreement; and 
 WHEREAS,
in connection with the consummation of the Financing, the Company and the Investors have agreed to the registration rights, information rights, and other rights as set forth below. 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises, representations,
warranties, and covenants hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

AGREEMENT 
 1.
REGISTRATION RIGHTS. 
 1.1 Definitions. For purposes of this Agreement: 

(a) The term “Avalon” means Avalon Ventures XI, L.P., a Delaware limited partnership. 

(b) The term “Affiliate” means, with respect to any specified Person, any other Person who, directly or
indirectly, controls, is controlled by, or is under common control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or other investment
fund now or hereafter existing that is controlled by one (1) or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person. 

(c) The term “Board of Directors” means the Board of Directors of the Company. 

(d) The term “Bregua” means Bregua Corporation, a company formed under the laws of the British Virgin Islands.

 (e) The term “BVF” means, collectively, Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P.
and Biotechnology Value Trading Fund OS, L.P. 

 (f) The term “Common Stock” means the Common Stock, $0.001
par value per share, of the Company. 
 (g) The term “EcoR1” means, collectively, EcoR1 Capital Fund, L.P.,
EcoR1 Capital Fund Qualified, L.P. and EcoR1 Venture Opportunity Fund, L.P. 
 (h) The term “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 
 (i) The term “Form
S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or
incorporation of substantial information by reference to other documents filed by the Company with the SEC. 
 (j) The term
“Holder” means any individual or entity owning or having the right to acquire Registrable Securities or any assignee thereof in accordance with Section 1.12 hereof. 

(k) The term “Janus” means Janus Henderson Biotech Innovation Master Fund Limited, Janus Henderson Horizon
Fund—Biotechnology Fund, Janus Henderson Global Life Sciences Fund and Janus Henderson Capital Funds Plc—Janus Henderson Global Life Sciences Fund (each, together with its (i) permitted transferees and (ii) other entities under
management by Janus Capital Management LLC, a “Janus Investor”). 
 (l) The term
“Logos” means Logos Opportunities Fund II, L.P. 
 (m) The term “New Securities”
means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or
exchangeable into or exercisable for such equity securities; provided, however, that New Securities shall exclude: (i) Exempted Securities (as defined in the Restated Certificate); and (ii) shares of Common Stock issued in
the Company’s first underwritten public offering of its Common Stock under the Securities Act. 
 (n) The term
“OrbiMed” means OrbiMed Private Investments VIII, LP. 
 (o) The term “Person” means
any individual, corporation, partnership, trust, limited liability company, association or other entity. 
 (p) The term
“Preferred Stock” means the Series Seed Preferred Stock, par value $0.001 per share, of the Company, the Series Seed 2 Preferred Stock, par value $0.001 per share, of the Company, the Series A Preferred Stock, par value
$0.001 per share, of the Company and the Series B Preferred Stock. 
 (q) The term “Qualifying IPO” means the
firmly underwritten initial public offering of shares of Common Stock at a per share price not less than one and one-quarter (1.25) times the Series B Original Purchase Price (as defined in the Restated
Certificate) resulting in proceeds to the Company of at least $50,000,000 in the aggregate (after deducting any underwriting or similar commissions, compensation or concessions paid or allowed by the Company in connection with such offering and any
expenses payable by the Company in connection with such offering). 
 (r) The term “RA Capital” means,
collectively, RA Capital Healthcare Fund, L.P. and RA Capital Nexus Fund II, L.P. 
 (s) The terms “register”,
“registered” and “registration” refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the

  
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Securities Act, and the declaration or ordering of effectiveness of such registration statement or document by the SEC. 

(t) The term “Registrable Securities” means: (i) the Common Stock issuable or issued upon conversion of the
Preferred Stock; (ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by the Investors after the date hereof and (iii) any
Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of the shares
referenced in clause (i) or (ii) above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which his or her rights under this Section 1 are not assigned and excluding Registrable Securities
that have been sold in an offering registered under the Securities Act or in an open-market transaction under Rule 144 of the Securities Act occurring after the Company’s initial public offering. 

(u) The number of shares of “Registrable Securities then outstanding” shall be determined by the number of
shares of Common Stock outstanding which are, and the number of shares of Common Stock issuable pursuant to then-exercisable or then-convertible securities which are, Registrable Securities. 

(v) The term “Registration Expenses” means all expenses incurred by the Company in complying with Sections 1.2,
1.3 and 1.4 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, reasonable fees and disbursements (up to a maximum of $50,000 in connection with any single
registration) of a single special counsel for the Holders selected by Holders of a majority of the Registrable Securities to be registered, blue sky fees and expenses and the expense of any special audits incident to or required by any such
registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the Company). 
 (w)
The term “Requisite Holders” means the holders of a majority of the Registrable Securities then outstanding, which must include the holders of at least a majority of the then-outstanding shares of Common Stock issued or
issuable upon conversion of the Series A Preferred Stock and Series B Preferred Stock, voting together as a single class on an as-if-converted to Common Stock
basis. 
 (x) The term “Restated Certificate” means the Amended and Restated Certificate of Incorporation of
the Company filed with the Secretary of the State of Delaware on or about the date hereof (as amended from time to time). 
 (y) The
term “SEC” means the Securities and Exchange Commission. 
 (z) The term “Securities
Act” means the Securities Act of 1933, as amended. 
 (aa) The term “Selling Expenses” means all
underwriting discounts and selling commissions applicable to a sale of Registrable Securities. 
 (bb) The term
“Stockholders’ Agreement” means that certain Amended and Restated Stockholders Agreement, dated as of the date hereof, by and between the Company, the Investors and certain holders of Common Stock of the Company. 

(cc) The term “Preferred Directors” means the four (4) members of the Board of Directors that the holders
of Preferred Stock, voting as a separate class, are entitled to elect in accordance with the Restated Certificate. 
 (dd) The term
“Series B Preferred Stock” means the Series B Preferred Stock, par value $0.001 per share, of the Company. 

  
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 1.2 Demand Registration. 

(a) After the earlier of (i) four (4) years after the date of this Agreement or (ii) six (6) months after the effective date
of the Company’s initial public offering, if the Company receives a written request from the holders of not less than a majority of the Registrable Securities then outstanding that the Company file a registration statement under the Securities
Act (provided that the anticipated aggregate offering price would exceed $5,000,000), then the Company shall: 
 (i) within
thirty (30) days of the receipt thereof, give written notice of such request to all Holders; and 
 (ii) effect, as soon as
practicable after receipt of such request, the registration under the Securities Act of that number of Registrable Securities which the Holders requested to be registered, subject to the limitations of Section 1.2(b), within thirty
(30) days of the mailing of such notice by the Company. 
 (b) If the Holders initiating the registration request hereunder (the
“Initiating Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Section 1.2(a) and
the Company shall include such information in the written notice referred to in Section 1.2(a). The underwriter(s) will be selected by the Board of Directors (including a majority of the Preferred Directors) and shall be reasonably acceptable
to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion
of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their
securities through such underwriting shall (together with the Company as provided in Section 1.5(f)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting; provided, however,
that no Holder (or any of their assignees) shall be required to make any representations, warranties or indemnities, except as they relate to such Holder’s ownership of shares and authority to enter into the underwriting agreement and to such
Holder’s intended method of distribution, and the liability of such Holder shall be several and not joint, and limited to an amount equal to the net proceeds from the offering received by such Holder. Notwithstanding any other provision of this
Section 1.2, if the underwriter advises the Initiating Holders in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities
which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including the Initiating Holders, in proportion (as
nearly as practicable) to the amount of Registrable Securities of the Company owned by each Holder or in such proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number of shares of
Registrable Securities to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. 

(c) The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to this Section 1.2:

 (i) After the Company has effected two (2) registrations pursuant to this Section 1.2 and such registrations have been
declared or ordered effective requested to be registered; provided, however, that any registration that is withdrawn or closed at the request of the Initiating Holders (other than as a result of a material adverse change affecting the
Company) shall count as one (1) of the two (2) required registrations pursuant to this Section 1.2(c)(i); or 
 (ii)
If the Company delivers notice to the Initiating Holders within thirty (30) days of such Initiating Holders’ registration request that the Company intends to file the first registration statement for a public offering of securities of
the Company (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or a transaction pursuant to Rule 145 of the Securities Act
(“SEC Rule 145”)) within sixty (60) 

  
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days from the date of such notice; provided, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective.

 1.3 Company Registration. 

(a) If (but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by the
Company for stockholders other than the Holders) any of its stock or other securities under the Securities Act in connection with the public offering of such securities solely for cash (other than a registration statement relating either to the sale
of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or an SEC Rule 145 transaction), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written
request of each Holder given within twenty (20) days after mailing of such notice by the Company, the Company shall cause to be registered under the Securities Act all of the Registrable Securities that each such Holder has requested to be
registered. 
 (b) If the registration statement under which the Company gives notice under this Section 1.3 is for an
underwritten offering, the Company shall so advise the Holders of Registrable Securities. In such event, the right of any such Holder to be included in a registration pursuant to this Section 1.3 shall be conditioned upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable Securities through such underwriting shall
enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company; provided, however, that no Holder (or any of their assignees) shall be required to make any
representations, warranties or indemnities except as they relate to such Holder’s ownership of shares and authority to enter into the underwriting agreement and to such Holder’s intended method of distribution, and the liability of such
Holder shall be several and not joint and limited to an amount equal to the net proceeds from the offering received by such Holder. Notwithstanding any other provision of the Agreement, if the underwriter determines in good faith that marketing
factors require a limitation of the number of shares to be underwritten, the number of shares that may be included in the underwriting shall be allocated: (i) first, to the Company; (ii) second, to the Holders on a pro rata basis based on
the total number of Registrable Securities held by the Holders; and (iii) third, to any stockholder of the Company (other than a Holder) on a pro rata basis. No such reduction shall reduce the amount of securities of the selling Holders
included in the registration below thirty percent (30%) of the total amount of securities included in such registration, unless such offering is the Company’s initial public offering of shares of Common Stock registered under the Securities Act
and such registration does not include shares of any other selling stockholders, in which event any or all of the Registrable Securities of the Holders may be excluded in accordance with the immediately preceding sentence. In no event will shares of
any other selling stockholder be included in such registration which would reduce the number of shares which may be included by Holders without the written consent of Holders of not less than a majority of the Registrable Securities proposed to be
sold in the offering. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least ten (10) business days prior to the
effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For any Holder which is a partnership, limited liability company or
corporation, the partners, retired partners, managers, members and stockholders of such Holder, or the estates and family members of any such partners, members and retired partners and any trusts for the benefit of any of the foregoing persons shall
be deemed to be a single “Holder”, and any pro rata reduction with respect to such “Holder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities
and individuals included in such “Holder”, as defined in this sentence. 
 1.4 Form
S-3 Registration. In the event that the Company receives a written request from the Holders that the Company effect a registration on Form S-3 and any related
qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holders, the Company will: 
 (a)
promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 

  
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 (b) as soon as practicable, and in any event within forty five (45) days after
such request, effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable
Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within fifteen (15) days after
receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 1.4: (i) if Form S-3 is not available for such offering by the Holders; (ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell
Registrable Securities and such other securities (if any) at an aggregate price to the public of less than $1,000,000; (iii) if the Company has, within the twelve (12) month period preceding the date of such request, already effected two
(2) registrations on Form S-3 for the Holders pursuant to this Section 1.4; or (iv) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute
a general consent to service of process in effecting such registration, qualification or compliance. 
 (c) Subject to the foregoing,
the Company shall file a Form S-3 registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests
of the Holders. Registrations effected pursuant to this Section 1.4 shall not be counted as demands for registration or registrations effected pursuant to Sections 1.2 or 1.3, respectively. 

1.5 Obligations of the Company. Whenever required under this Section 1 to effect the registration of any Registrable Securities,
the Company shall, as expeditiously as reasonably possible: 
 (a) prepare and file with the SEC a registration statement with respect
to such Registrable Securities, use its best efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement
effective for a period of up to one (1) year or until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one (1) year period shall be extended for a period of
time equal to the period any Holder refrains from selling any securities included in such registration at the request of the Company or any underwriter for the Company; and (ii) in the case of any registration of Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such one (1) year period shall be extended, if necessary, to keep the registration statement effective until all such Registrable
Securities are sold; 
 (b) prepare and file with the SEC such amendments and supplements to such registration statement and the
prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement; 

(c) furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

(d) use its best efforts to register and qualify the securities covered by such registration statement under such other securities or
blue sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a
general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(e) in the event of any order suspending the effectiveness of a registration statement, use its best efforts to obtain the withdrawal of
such order at the earliest possible time; 

  
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 (f) in the event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; 
 (g)
notify each Holder of Registrable Securities covered by a registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the
prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the
light of the circumstances then existing; 
 (h) notify each Holder of Registrable Securities covered by a registration statement of:
(i) the effectiveness of such registration statement; (ii) the filing of any post-effective amendments to such registration statement; or (iii) the filing of a supplement to such registration statement; 

(i) promptly make available for inspection, upon reasonable notice during the Company’s regular business hours, by each Holder of
Registrable Securities covered by a registration statement, any underwriter participating in any distribution pursuant to such registration statement, and any attorney, accountant or other agent retained by such Holder or underwriter, all financial
and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such Holder, underwriter,
attorney, accountant or agent in connection with such registration statement; 
 (j) upon the transfer of shares by a Holder in
connection with a registration hereunder, furnish unlegended certificates representing ownership of the Registrable Securities being sought in such denominations as shall be requested by the Holders or the underwriters; 

(k) cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar
securities issued by the Company are then listed; 
 (l) provide a transfer agent and registrar for all Registrable Securities
registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; and 

(m) furnish, at the request of any Holder, on the date that such Holder’s Registrable Securities are delivered to the underwriters
for sale in connection with a registration pursuant to this Agreement, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect
to such securities becomes effective: (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public
offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, addressed to the underwriters and to the Holders requesting registration of Registrable Securities; and (ii) a “comfort” letter
dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably
satisfactory to a majority in interest of the Holders requesting registration, addressed to the underwriters and to the Holders requesting registration of Registrable Securities. 

In addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities of the
Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors may implement a trading program under Rule 10b5-1 of the Exchange Act.

 1.6 Furnish Information. 

  
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 (a) It shall be a condition precedent to the obligations of the Company to take any
action pursuant to this Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method
of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities. 

(b) The Company shall have no obligation with respect to any registration requested pursuant to Section 1.2 if, due to the
operation of Section 1.6(a), the number of shares or the anticipated aggregate offering price of the Registrable Securities to be included in the registration does not equal or exceed the number of shares or the anticipated aggregate offering
price required to originally trigger the Company’s obligation to initiate such registration as specified in Section 1.2(a). 

1.7 Expenses of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with any
registration, qualification or compliance pursuant to Section 1.2, Section 1.3 or Section 1.4 herein shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder, shall be borne by the
Holders of the securities so registered pro rata on the basis of the number of shares so registered. 
 1.8 Indemnification. In
the event any Registrable Securities are included in a registration statement under this Section 1: 
 (a) To the extent
permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members, officers, directors and stockholder of each such Holder, legal counsel and accountants for each such Holder, any underwriter (as defined in the
Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may
become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto; (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any
violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law; and the Company will pay to
each such Holder, underwriter or controlling person any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the
indemnity agreement contained in this Section 1.8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not
be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability, or action to the extent that it arises out of or is based upon a Violation which occurs solely in reliance upon and in
conformity with written information furnished expressly for use in connection with such registration by any such Holder, underwriter or controlling person, except to the extent such information has been corrected in a subsequent writing prior to or
concurrently with the sale of Registrable Securities to the Person asserting the claim. 
 (b) To the extent permitted by law, each
selling Holder will, severally but not jointly, indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the
Securities Act, any underwriter, any other Holder selling securities in such registration statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which
any of the foregoing persons may become subject, under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any
Violation, in each case to the extent (and only to the extent) that such Violation occurs solely in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration and has not
been corrected in a 

  
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subsequent writing prior to or concurrently with the sale of Registrable Securities to the Person asserting the claim; and each such Holder will pay any legal or other expenses reasonably
incurred by any person intended to be indemnified pursuant to this Section 1.8(b), in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement
contained in this Section 1.8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably
withheld; and provided further that, in no event shall any indemnity under this Section 1.8(b) exceed the net proceeds from the offering received by such Holder. 

(c) Promptly after receipt by an indemnified party under this Section 1.8 of notice of the commencement of any action (including
any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.8, deliver to the indemnifying
party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the
defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right
to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action,
if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 1.8, but the omission to deliver written notice to the indemnifying party will not relieve
it of any liability that it may have to any indemnified party otherwise than under this Section 1.8. 
 (d) If the
indemnification provided for in this Section 1.8 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying
party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect
the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant
equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a
material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission;
provided, however, that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such
registration statement, and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Section 1.8(d), when combined with the amounts paid or payable by such Holder pursuant to Section 1.8(b), exceed the proceeds from
the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 

(e) Notwithstanding the foregoing, to the extent that the provisions relating to indemnification and contribution contained in the
underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided, however, that any matter expressly provided
for or addressed by the foregoing provisions that is not expressly provided for or addressed by the underwriting agreement shall be controlled by the foregoing provisions. 

  
 9 

 (f) The obligations of the Company and Holders under this Section 1.8 shall
survive the completion of any offering of Registrable Securities in a registration statement under this Section 1 and otherwise shall survive the termination of this Agreement or any provision(s) of this Agreement. 

1.9 Reports Under the Exchange Act. With a view to making available to the Holders the benefits of Rule 144 promulgated under the
Securities Act (“SEC Rule 144”) and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a) make and keep available adequate current public information, as
those terms are understood and defined in SEC Rule 144, at all times after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public (other than a registration statement
relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or an SEC Rule 145 transaction); 

(b) take such action, including the voluntary registration of its Common Stock under Section 12 of the Exchange Act, as is
necessary to enable the Holders to utilize Form S-3 for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration
statement filed by the Company for the offering of its securities to the general public (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar
plan or an SEC Rule 145 transaction) is declared effective; 
 (c) file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act; and 
 (d) furnish to any Holder, so long as the
Holder owns any Registrable Securities, forthwith upon request: (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the
first registration statement filed by the Company), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to
Form S-3 (at any time after it so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (iii) such other
information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 

1.10 Market Stand-Off Agreement. Each Holder hereby agrees that such Holder shall not sell,
transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Common Stock (or other securities) of the Company held by such Holder (other than
those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred eighty (180) days following the effective date of a registration
statement of the Company filed under the Securities Act relating to the initial public offering of shares of Common Stock registered under the Securities Act; provided, however, that all officers and directors of the Company and
holders (individually and together with their affiliates and affiliated investment funds) of at least one percent (1%) of the Company’s voting securities enter into similar agreements. The Company may impose stop-transfer instructions with
respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of such one hundred eighty (180) day (or other) period. Each Holder agrees that any transferee of any shares of Registrable
Securities shall be bound by this Section 1.10. The underwriters of the Company’s stock are intended third-party beneficiaries of this Section 1.10 and shall have the right, power and authority to enforce the provisions hereof as
though they were parties hereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company stockholders that are subject to such agreements,
based on the number of shares subject to such agreements. Notwithstanding the foregoing, the obligations in this Section 1.10 shall not apply to transactions (including, without limitation, any swap, hedge or similar agreement or arrangement)
relating to shares or other securities acquired by a Holder either in the Initial Public Offering 

  
 10 

 
or on the open market or in other transactions following the Initial Public Offering or that otherwise do not involve or relate to securities of the Company owned by a Holder prior to the Initial
Public Offering, or to the sale of any shares to an underwriter pursuant to an underwriting agreement. 
 1.11 Limitation on Subsequent
Registration Rights. After the date of this Agreement, the Company shall not, without the prior written consent of the Requisite Holders, enter into any agreement with any holder or prospective holder of any securities of the Company that would
grant such holder registration rights pari passu with or senior to those granted to the Holders hereunder or would allow such holder or prospective holder to initiate a demand for registration of any securities held by such holder or
prospective holder. 
 1.12 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities
pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to one or more transferees or assignees of such securities (an “Assignee”): (i) to whom such Holder transfers such
securities pursuant to Section 3.2 hereof; (ii) who is an employee, Affiliate or affiliated partnership managed by such Holder; or (iii) who, after such assignment or transfer, acquires at least ten percent (10%) (subject to
appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations) of the Registrable Securities held by the Holder as of the date of this Agreement, provided that: (a) the Company is, within a reasonable
time after such transfer, furnished with written notice of the name and address of such Assignee and the securities with respect to which such registration rights are being assigned; and (b) such Assignee agrees in writing to be bound by and
subject to the terms and conditions of this Agreement, including, without limitation, the provisions of Section 1.10. 
 1.13
Termination of Registration Rights. No Holder shall be entitled to exercise any right provided for in this Section 1 after five (5) years following the consummation of the sale of securities pursuant to a Qualifying IPO or, as to any
Holder, such earlier time at which all Registrable Securities held by such Holder (and any affiliate of the Holder with whom such Holder must aggregate its sales under SEC Rule 144) can be sold in any three (3) month period without registration
in compliance with SEC Rule 144. 
 2. ADDITIONAL COVENANTS. 

2.1 Delivery of Financial Statements. The Company shall deliver to each Investor: 

(i) as soon as practicable, but in any event within ninety (90) days after the end of each fiscal year of the Company, (a) an
income statement and cash flow statement for such fiscal year, and a comparison between (1) the actual amounts as of and for such fiscal year and (2) the comparable amounts for the prior year and as included in the Budget (as defined in
Section 2.1(v) below) for such year, with an explanation of any material differences between such amounts and a schedule as to the sources and applications of funds for such year, (b) a balance sheet of the Company and statement of
stockholder’s equity as of the end of such year, and (c) a capitalization table as of the end of such year, such year-end financial reports to be in reasonable detail, prepared in accordance with
generally accepted accounting principles in the United States, and audited and certified by independent public accountants of regionally recognized standing selected by the Company and approved by the Board of Directors (including a majority of the
Preferred Directors); 
 (ii) as soon as practicable, but in any event within forty-five (45) days after the end of each of the
first three (3) quarters of each fiscal year of the Company, an unaudited income statement and cash flow statement for the relevant fiscal quarter, schedule as to the sources and application of funds for such fiscal quarter, and an unaudited
balance sheet and a statement of stockholder’s equity as of the end of such fiscal quarter, all prepared in accordance with generally accepted accounting principles in the United States, except for any otherwise applicable footnote disclosures;

 (iii) as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three
(3) quarters of each fiscal year of the Company, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period,
the Common Stock issuable upon conversion 

  
 11 

 
or exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options
and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit the Investors to calculate their respective percentage equity ownership in the Company; 

(iv) as soon as practicable, but in any event within thirty (30) days of the end of each month, an unaudited income statement and
schedule as to the sources and application of funds and balance sheet for and as of the end of such month, in reasonable detail, prepared in accordance with generally accepted accounting principles, except for any otherwise applicable footnote
disclosures; and 
 (v) as soon as practicable, but in any event at least thirty (30) days prior to the end of each fiscal year,
a budget and business plan for the next fiscal year (collectively, the “Budget”), approved by the Board of Directors (including a majority of the Preferred Directors) and prepared on a quarterly basis, including balance
sheets, income statements, and statements of cash flow for such months and, promptly after prepared, any other budgets or revised budgets prepared by the Company; and 

(vi) such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any
Investor may from time to time reasonably request; provided, however, that the Company shall not be obligated under this Subsection 2.1(vi) to provide information (i) that the Company reasonably determines in good faith to be a trade
secret or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company); or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company and
its counsel. 
 If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in
respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries. 

2.2 Right of First Refusal. Subject to the terms and conditions specified in this Section 2.2, the Company hereby grants to each
Investor a right of first refusal with respect to future sales by the Company of New Securities. For purposes of this Section 2.2, the term “Investor” shall include any general partners and Affiliates of an Investor, and
each Investor shall be entitled to apportion the right of first refusal hereby granted to it among itself and its partners and Affiliates in such proportions as it deems appropriate. Subject to Section 2.2(d), each time the Company proposes to
offer any New Securities, the Company shall first make an offering of such New Securities to each Investor in accordance with the following provisions: 

(a) The Company shall deliver a notice by certified mail (the “Notice”) to each Investor stating: (i) its
bona fide intention to offer such New Securities; (ii) the number of such New Securities to be offered; and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. 

(b) Within thirty (30) calendar days after receipt of the Notice, each Investor may elect to purchase or obtain, at the price and
on the terms specified in the Notice, up to that portion of such New Securities which equals the proportion that the number of Registrable Securities then held by such Investor bears to the total number of Registrable Securities then outstanding
(such Investor’s “Pro Rata Amount”). The Company shall promptly, in writing, inform each Investor that elects to purchase all of the New Securities available to it (each, a “Participating
Investor”) of any other Investor’s failure to do likewise. During the ten (10) day period commencing after receipt of such notice, each Participating Investor shall be entitled to obtain that portion of the New Securities for
which Investors were entitled to, but did not, subscribe equal to the proportion that the number of Registrable Securities then held by such Participating Investor bears to the total number of Registrable Securities then held by all Participating
Investors who wish to purchase some of the unsubscribed New Securities. 
 (c) If all New Securities that Investors are entitled to
obtain pursuant to Section 2.2(b) are not subscribed for as provided in Section 2.2(c), the Company may, during the sixty (60) day period following the expiration of the period provided in Section 2.2(c), offer the remaining
unsubscribed portion 

  
 12 

 
of such New Securities to any person or persons at a price not less than that, and upon terms no more favorable to such person or persons than those, specified in the Notice. If the Company does
not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New
Securities shall not be offered unless first reoffered to the Investors in accordance herewith. 
 (d) The rights of first refusal
granted under this Section 2.2, including notice with respect thereto, may be waived pursuant to Section 5.5 of this Agreement. Notwithstanding the foregoing, if any of the waiving Investors purchase New Securities covered by the waiver
(any such purchase of New Securities, a “Waiver Purchase”), then each Investor shall have the right to purchase up to the same percentage of its Pro Rata Amount of the New Securities purchased by the waiving Investor who
purchased the highest percentage of its respective Pro Rata Amount of the New Securities (such right, a “ROFR Revival Right”). The rights of first refusal of each Investor under this Section 2.2 may be transferred to the
same parties, subject to the same restrictions, as any transfer of registration rights pursuant to Section 1.12. 
 2.3 Inspection
Rights. Subject to the execution of reasonable nondisclosure agreements (if appropriate), each Investor shall have the right to visit and inspect any of the properties of the Company, to discuss the affairs, finances and accounts of the Company
with its officers, and to review such information as is reasonably requested all at such reasonable times (during normal business hours) and as often as may be reasonably requested for any purpose reasonably related to such Investor’s interest
as a stockholder of the Company; provided, however, that the Company shall not be obligated under this Section 2.3 to provide access to a competitor of the Company or to provide information which the Board of Directors determines
in good faith is confidential (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or attorney-client privileged and should not, therefore, be disclosed. For the purposes of this Agreement, no person or
entity or any of its Affiliates that is a venture capital or other investment fund or professional investment manager whose primary business is making investments in operating companies shall be deemed a competitor of the Company. 

2.4 Observation Rights. Each of Avalon, Bregua, EcoR1, RA Capital, Janus, BVF, Surveyor and OrbiMed shall have the right, for so long as
such Investor continues to own shares of Preferred Stock, to designate one (1) individual (each, an “Observer”) who shall be entitled to notice of, to attend, and participate in, as a nonvoting observer, and to any
documentation distributed to members before, during and after, all meetings of the Board of Directors, including executive sessions of the Board of Directors, at the same time and in the same manner as provided to the Board of Directors. The Company
reserves the right to exclude any such Observer from any meeting or portion thereof of the Board of Directors, and to withhold access to any material or portion thereof provided to the directors, if the Board of Directors believes, in good faith, in
reliance upon the advice of counsel, and after discussing with such Observer, that: (i) access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel; or
(ii) access to such information or attendance at such meeting could result in a conflict of interest between Avalon, Bregua, EcoR1, RA Capital, Janus, BVF, Surveyor or OrbiMed, as applicable, and the Company. Each of Avalon, Bregua, EcoR1, RA
Capital, Janus, BVF, Surveyor and OrbiMed agrees, and any representative of Avalon, Bregua, EcoR1, RA Capital, Janus, BVF, Surveyor or OrbiMed will agree, to hold any confidential information provided to or learned by it in connection with its
rights under this Section 2.4 in accordance with the confidentiality obligations in Section 2.5 below. The Company shall reimburse each Observer for all reasonable
out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. 

2.5 Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any
purpose (other than to monitor or make decisions with respect to its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file
a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 2.5 by such Investor),(b) is or has been
independently developed or conceived by such Investor without use of the Company’s confidential information, or (c) is or has been made known or 

  
 13 

 
disclosed to such Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may
disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent reasonably necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any
prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 2.5 (iii) to any Affiliate, partner, member, stockholder, or wholly
owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such person that such information is confidential and directs such person to maintain the confidentiality of such information;
(iv) to the extent required in connection with any routine or periodic examination or similar process by any regulatory or self-regulatory body or authority not specifically directed at the Company or the confidential information obtained from
the Company pursuant to the terms of the Agreement, including, without limitation, quarterly or annual reports; or (v) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that, with respect to this
clause (v), such Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure. 

2.6 Material Non-Public Information. The Company understands and acknowledges that in the
regular course of Surveyor’s business, Surveyor and its Affiliates will invest in companies that have issued securities that are publicly traded (each, a “Public Company”). Accordingly, the Company covenants and agrees
that before providing any material non-public information about a Public Company (“Public Company Information”) to Surveyor or its representatives (or any of their respective
Affiliates), the Company shall provide notice to Surveyor’s Compliance Officer at SCComplianceAppvl@citadel.com if the Company becomes aware of any materials that the Company may provide to Surveyor which may include Public Company
Information (which notice shall include a brief high level description of such Public Company Information) and Surveyor shall determine whether to receive such materials. The Company shall not disclose Public Company Information to Surveyor or its
representatives (or any of their respective Affiliates) without prior written authorization from Surveyor’s Compliance Officer listed above and Surveyor shall not be entitled to any of the rights under this Agreement with respect to such Public
Company Information until such authorization is granted. The Company may withhold or redact the applicable portions of any reports or information provided to Surveyor that the Company reasonably believes constitutes Public Company Information;
provided, that the Company has provided advance notice of such Public Company Information to Surveyor’s Compliance Officer pursuant to the terms of the second sentence of this Section 2.6 and such Compliance Officer has not provided
written instructions to the Company requesting that such information be disclosed to Surveyor or its representatives (or any of their respective Affiliates). In addition, the Company understands and acknowledges that in no event shall any
Investor’s confidentiality and non-use obligations hereunder be deemed or construed as limiting such Investor’s or its representatives’ (or any of their respective Affiliates’) ability to
trade any security of a Public Company. “Surveyor” means Citadel Multi-Strategy Equities Master Fund Ltd. 
 2.7
Termination of Certain Covenants. The covenants set forth in this Section 2 shall terminate and be of no further force or effect upon the earlier of: (i) the consummation of the sale of securities pursuant to a Qualifying IPO;
(ii) the first date upon which none of the Registrable Securities are outstanding; or (iii) a Liquidation (as defined in the Restated Certificate). 

3. RESTRICTIONS ON TRANSFER. 

3.1 General Restrictions. Each Holder agrees not to make any disposition of all or any portion of its Registrable Securities unless and
until: 
 (a) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such
disposition is made in accordance with such registration statement; or 
 (b) (i) The transferee has agreed in writing to
be bound by the terms of this Agreement; (ii) such Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition; and
(iii) if reasonably requested by the Company, such Holder shall have furnished the Company with an opinion of 

  
 14 

 
counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Securities Act. 

3.2 Exceptions. Notwithstanding the provisions of Section 3.1, no such restriction shall apply to a transfer by a Holder that is:
(i) a partnership transferring to its partners or former partners in accordance with partnership interests; (ii) a corporation transferring to a wholly owned subsidiary or a parent corporation that owns all of the capital stock of the
Holder; (iii) a limited liability company transferring to its members or former members in accordance with their interest in the limited liability company; (iv) an individual transferring to the Holder’s family member or trust for the
benefit of an individual Holder or such Holder’s family member(s), (v) made pursuant to SEC Rule 144 or (vi) made by a Holder to any other Affiliate of such Holder; provided, however, that in each case other than
(v) above the transferee will agree in writing to be subject to the terms of this Agreement to the same extent as if he, she or it were an original Holder hereunder. 

3.3 Legends. Each certificate representing Registrable Securities shall be stamped or otherwise imprinted with legends substantially
similar to the following (in addition to any legend required under applicable state securities laws): 
 THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO
THE SECURITIES UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF THE SECURITIES ACT. 

THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF THAT
CERTAIN AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY. 

3.4 Removal of Legends. The Company shall be obligated to promptly reissue unlegended certificates at the request of any Holder thereof
if the Company has completed the initial public offering of shares of Common Stock registered under the Securities Act and the Holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to
the Company to the effect that the securities proposed to be disposed of may lawfully be so disposed of without registration, qualification and legend. In addition, any legend endorsed on an instrument pursuant to applicable state securities laws
and the stop-transfer instructions with respect to such securities shall be removed upon receipt by the Company of an order of the appropriate blue sky authority authorizing such removal. 

4. ADDITIONAL COVENANTS 

4.1 Insurance. The Company shall obtain, within ninety (90) days of the date hereof, from financially sound and reputable insurers
Directors and Officers liability insurance in an amount and on terms and conditions satisfactory to the Board of Directors, including a majority of the Preferred Directors, and will use commercially reasonable efforts to cause such insurance
policies to be maintained until such time as the Board of Directors, including a majority of the Preferred Directors, determines that such insurance should be discontinued. Notwithstanding any other provision of this Section 4.1 to the
contrary, for so long as a Preferred Director is serving on the Board of Directors, the Company shall not cease to maintain a Directors and Officers liability insurance policy in an amount of at least three (3) million dollars unless approved
by a majority of the Preferred Directors, shall include each Investor entitled to designate a 

  
 15 

 
Preferred Director pursuant to the Stockholders’ Agreement as additional insureds in such policy, and shall annually, within one hundred twenty (120) days after the end of each fiscal
year of the Company, deliver to the Investors a certification that such a Directors and Officers liability insurance policy remains in effect. 

4.2 Employee Agreements. Unless otherwise approved by the Board of Directors, including a majority of the Preferred Directors, the
Company will cause each Person now or hereafter employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to confidential information and/or trade secrets to enter into a
nondisclosure, proprietary rights assignment and non-solicitation agreement. In addition, the Company shall not amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the
above-referenced agreements or any restricted stock agreement between the Company and any employee, without the consent of the Board of Directors, including a majority of the Preferred Directors. 

4.3 Employee Stock. Unless otherwise approved by the Board of Directors, including a majority of the Preferred Directors, all employees
of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for
(i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly
installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in Section 1.10. Without the
prior approval by the Board of Directors, including a majority of the Preferred Directors, the Company shall not amend, modify, terminate, waive or otherwise alter, in whole or in part, any stock purchase, stock restriction or option agreement with
any existing employee or service provider if such amendment would cause it to be inconsistent with this Section 4.3. In addition, unless otherwise approved by the Board of Directors, including a majority of the Preferred Directors, the Company
(x) shall not offer or allow any acceleration of vesting, and (y) shall retain (and not waive) a “right of first refusal” on employee transfers until the Company’s initial public offering and shall have the right to
repurchase unvested shares at cost upon termination of employment of a holder of restricted stock. 
 4.4 Board Matters. The Company
shall reimburse the nonemployee directors for all reasonable out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with
attending meetings of the Board of Directors. 
 4.5 Successor Indemnification. If the Company or any of its successors or assignees
consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the
Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, the Restated
Certificate, or elsewhere, as the case may be. 
 4.6 Expenses of Counsel. In the event of a transaction which is a Company
Transaction (as defined in the Stockholder Agreement), the reasonable fees and disbursements, not to exceed $50,000, of one counsel for the Investors (“Investor Counsel”), in their capacities as stockholders, shall be borne
and paid by the Company. At the outset of considering a transaction which, if consummated would constitute a Company Transaction, the Company shall obtain the ability to share with the Investor Counsel (and such counsel’s clients) and shall
share the confidential information (including, without limitation, the initial and all subsequent drafts of memoranda of understanding, letters of intent and other transaction documents and related noncompete, employment, consulting and other
compensation agreements and plans) pertaining to and memorializing any of the transactions which, individually or when aggregated with others would constitute a Company Transaction. The Company shall be obligated to share (and cause the
Company’s counsel and investment bankers to share) such materials when distributed to the Company’s executives and/or any one (1) or more of the other parties to such transaction(s). In the event that Investor Counsel deems it
appropriate, in its reasonable discretion, to enter into a joint defense (or common interest) agreement or other arrangement to enhance the ability of the parties to protect their communications and other reviewed materials under the attorney client
privilege, the Company shall, and shall direct its counsel 

  
 16 

 
to, execute and deliver to Investor Counsel and its clients such an agreement in form and substance reasonably acceptable to Investor Counsel and the Company’s counsel. In the event that one
(1) or more of the other party or parties to such transactions require the clients of Investor Counsel to enter into a confidentiality agreement and/or joint defense (or common interest) agreement in order to receive such information, then the
Company shall share whatever information can be shared without entry into such agreement and shall, at the same time, in good faith work expeditiously to enable Investor Counsel and its clients to negotiate and enter into the appropriate
agreement(s) without undue burden to the clients of Investor Counsel. 
 4.7 Indemnification Matters. The Company hereby acknowledges
that one (1) or more of the Preferred Directors nominated to serve on the Board of Directors by one (1) or more Investors may have certain rights to indemnification, advancement of expenses and/or insurance provided by one (1) or more
of the Investors and certain of their Affiliates (collectively, the “Investor Indemnitors”). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Preferred Director are
primary and any obligation of the Investor Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by such Preferred Director are secondary), (b) that it shall be required to advance the full
amount of expenses incurred by such Preferred Director and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Preferred Director to the extent legally permitted
and as required by the Restated Certificate or Bylaws of the Company (or any agreement between the Company and such Preferred Director), without regard to any rights such Preferred Director may have against the Investor Indemnitors, and,
(c) that it irrevocably waives, relinquishes and releases the Investor Indemnitors from any and all claims against the Investor Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further
agrees that no advancement or payment by the Investor Indemnitors on behalf of any such Preferred Director with respect to any claim for which such Preferred Director has sought indemnification from the Company shall affect the foregoing and the
Investor Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Preferred Director against the Company. The Preferred Directors and the Investor
Indemnitors are intended third-party beneficiaries of this Section 4.7 and shall have the right, power and authority to enforce the provisions of this Section 4.7 as though they were a party to this Agreement. 

4.8 Right to Conduct Activities. The Company hereby agrees and acknowledges that each of Avalon, Bregua, RA Capital, OrbiMed,
Correlation Ventures II, L.P., Surveyor, Janus and each Janus Investor, Samsara Biocapital, L.P., 436, L.P., BVF, EcoR1, Logos and Hartford Healthcare Endowment, LLC (together with their Affiliates) (each a “Fund”) is a
professional investment organization, and as such reviews the business plans and related proprietary information of many enterprises, some of which may compete directly or indirectly with the Company’s business (as currently conducted or as
currently propose to be conducted). Nothing in this Agreement shall preclude or in any way restrict the Investors from evaluating or purchasing securities, including publicly traded securities, of a particular enterprise, or investing or
participating in any particular enterprise whether or not such enterprise has products or services which compete with those of the Company; and the Company hereby agrees that, to the extent permitted under applicable law, each Fund shall not be
liable to the Company for any claim arising out of, or based upon, (i) the investment by a Fund in any entity competitive with the Company, or (ii) actions taken by any partner, officer, employee or other representative of a Fund to assist
any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a detrimental effect on the Company; provided, however, that
the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s confidential information obtained pursuant to this Agreement, or (y) any director or officer of the
Company from any liability associated with his or her fiduciary duties to the Company. 
 4.9 Termination of Certain Covenants. The
covenants set forth in this Section 4, except for the covenants set forth in Sections 4.6, 4.7 and 4.8, shall terminate and be of no further force or effect upon the earliest of: (i) the consummation of the sale of securities pursuant to a
Qualifying IPO; (ii) the first date upon which none of the Registrable Securities are outstanding; or (iii) a Liquidation. 

  
 17 

 5. MISCELLANEOUS. 

5.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

5.2 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities or persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement. 
 5.3 Notices. All notices required or
permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified; (ii) when sent by electronic mail or confirmed facsimile, if sent during normal business hours of the
recipient or, if not, then on the next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company and to each of the Investors, as applicable, at the respective addresses set forth on the signature page of this
document or at such other address(es) as the Company or any such Investor may designate by ten (10) days advance written notice to the other parties hereto. 

5.4 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party
shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

5.5 Amendments and Waivers. Except as expressly provided herein, any term of this Agreement may be amended and the observance of any
term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Requisite Holders. Notwithstanding the foregoing, (a) this
Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, modification, termination, or waiver
applies on its face to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 2.2 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does
so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction) and (b) if the second sentence of Section 2.2(d) is amended, terminated or waived
pursuant to the provisions of this Section 5.5, and an Investor purchases New Securities in an offering that is made in connection with such amendment, termination or waiver which would constitute a Waiver Purchase, then each Investor shall
have a ROFR Revival Right. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Registrable Securities then outstanding, each future holder of all such Registrable Securities, and the Company.

 5.6 Severability. If one or more provisions of this Agreement are held by a court of competent jurisdiction to be unenforceable
under applicable legal requirements, the parties agree to promptly renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement in writing for such provision, then:
(i) such provision shall be excluded from this Agreement; (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded; and (iii) the balance of the Agreement shall be enforceable in accordance with its
terms. 
 5.7 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware without
reference to its principles of conflict of laws. 
 5.8 Entire Agreement. This Agreement, together with the exhibits and schedules
hereto, constitutes the entire agreement among the parties, and no party shall be liable or bound to any other party 

  
 18 

 
in any manner by any warranties, representations, or covenants except as specifically set forth herein or therein. 

5.9 Counterparts; Execution by Facsimile. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of this Agreement by facsimile (or similar electronic means) shall be equally as effective as delivery of an original executed
counterpart of this Agreement. 
 5.10 Effect on Prior Agreement. Upon the execution and delivery of this Agreement, all provisions
of, rights granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety by this Agreement and shall have no further force or effect, including, without limitation, all rights of first refusal and any
notice period under Section 2.2 of the Prior Agreement applicable to the transactions contemplated by the Purchase Agreement. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 19 

 IN WITNESS WHEREOF, the
parties have executed this AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT as of the date first written
above. 
  

			
	COMPANY:
	
	JANUX THERAPEUTICS, INC.
	
	 /s/ David Campbell

	Name:	 	David Campbell, Ph.D.
	Title:	 	President and Chief Executive Officer
		
	Address:	 	11099 North Torrey Pines Road Suite 290
		 	La Jolla, California 92037

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	AVALON VENTURES XI, L.P.
		
	By:	 	Avalon Ventures XI GP, LLC
	Its:	 	General Partner
	
	 /s/ Tighe Reardon

	Name:	 	Tighe Reardon
	Title:	 	Authorized Signatory
		
	Address:	 	1134 Kline Street,
		 	La Jolla, California 92037

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	ABV SPV I, LP
		
	By:	 	Avalon Ventures XI GP, LLC
	Its:	 	General Partner
	
	 /s/ Tighe Reardon

	Name:	 	Tighe Reardon
	Title:	 	Authorized Signatory
		
	Address:	 	1134 Kline Street
		 	La Jolla, California 92037

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	BREGUA CORPORATION
	
	 /s/ Klaus Dorner

	Name:	 	Klaus Dorner
	Title:	 	Director
		
	Address:	 	
	
	 Wickhams Cay, P.O. Box 146

	 Road Town, Tortola VG 1110, BVI

	 Tel.:

	e-mail:

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	CORRELATION VENTURES II, L.P.
	As nominee for:
	    Correlation Ventures II, L.P.
	    Correlation Ventures Executives Fund II, L.P.
	        By: Correlation Ventures II GP, LLC
	
	 /s/ David Coats

	Name:	 	David Coats
	Title:	 	Managing Member
		
	Address:	 	9255 Town Centre Drive, Suite 350
		 	San Diego, CA 92121

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
					
	INVESTORS:
	
	RA CAPITAL HEALTHCARE FUND, L.P.
		
	    	 	By: RA Capital Healthcare Fund GP, LLC
		 	Its General Partner
			
		 	By:	 	 /s/ Rajeev Shah

		 	Name:	 	Rajeev Shah
		 	Title:	 	Manager
			
		 	Address:	 	RA Capital Management, L.P.
		 		 	200 Berkeley Street
		 		 	18th Floor
		 		 	Boston, MA 02116
		 		 	Attn: General Counsel
		 		 	Email: legal@racap.com
	
	RA CAPITAL NEXUS FUND II, L.P.
		
		 	By: RA Capital Nexus Fund II GP, LLC
		 	Its General Partner
			
		 	By:	 	 /s/ Rajeev Shah

		 	Name:	 	Rajeev Shah
		 	Title:	 	Manager
			
		 	Address:	 	RA Capital Management, L.P.
		 		 	200 Berkeley Street
		 		 	18th Floor
		 		 	Boston, MA 02116
		 		 	Attn: General Counsel
		 		 	Email: legal@racap.com

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
					
	INVESTOR:
	
	ORBIMED PRIVATE INVESTMENTS VIII, LP
		
	    	 	By: OrbiMed Capital GP VIII LLC,
		 	Its General Partner
		
		 	By: OrbiMed Advisors LLC,
		 	Its Managing Member
			
		 	By:	 	 /s/ Carl Gordon

		 	Name:	 	Carl Gordon
		 	Title:	 	Member
			
		 	Address:	 	c/o OrbiMed Advisors LLC
		 		 	601 Lexington Avenue, 54th Floor
		 		 	New York, NY 10022
		 		 	Tel: +1 (212) 739-6400
		 		 	Email: Legal@OrbiMed.com
		 		 	Attention: General Counsel

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
					
	INVESTOR:
	
	 THE BIOTECH GROWTH TRUST PLC

		
	    	 	By: OrbiMed Capital LLC, solely in its capacity as Portfolio Manager
			
		 	By:	 	 /s/ C. Scotland Stevens

		 	Name:	 	C. Scotland Stevens
		 	Title:	 	Member
			
		 	Address:	 	 601 Lexington Avenue, 54th Floor

		 		 	 New York, NY 10022

		 		 	 Tel: +1 (212) 739-6400

		 		 	 Email: Legal@OrbiMed.com

		 		 	 Attention: General Counsel

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
					
	INVESTOR:
	
	 ORBIMED GENESIS MASTER FUND, L.P.

		
	    	 	By: OrbiMed Genesis GP LLC,
		 	Its General Partner
		
		 	By: OrbiMed Advisors LLC,
		 	Its Managing Member
			
		 	By:	 	 /s/ C. Scotland Stevens

		 	Name:	 	C. Scotland Stevens
		 	Title:	 	Member
			
		 	Address:	 	 601 Lexington Avenue, 54th Floor

		 		 	 New York, NY 10022

		 		 	 Tel: +1 (212) 739-6400

		 		 	 Email: Legal@OrbiMed.com

		 		 	 Attention: General Counsel

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTORS:
	
	SAMSARA BIOCAPITAL, L.P.
		
	By:	 	Samsara BioCapital GP, LLC,
		 	General Partner
		
	By:	 	 /s/ Srinivas Akkaraju

	Name:	 	Srinivas Akkaraju
	Title:	 	Managing General Partner
	
	436, L.P.
		
	By:	 	436 GP, LLC,
		 	General Partner
		
	By:	 	 /s/ Srinivas Akkaraju

	Name:	 	Srinivas Akkaraju, MD, PhD
	Title:	 	Managing Member
	
	Address: 628 Middlefield Road
		 	    Palo Alto, CA 94301
	Email:

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	CITADEL MULTI-STRATEGY EQUITIES MASTER FUND LTD.
	By: Citadel Advisors LLC, its portfolio manager
		
	By:	 	 /s/ Shellane Mulcahy

		
	Name:	 	Shellane Mulcahy
		
	Title:	 	Authorized Signatory
	
	Address:
	c/o Citadel Advisors LLC
	601 Lexington Avenue
	New York, New York 10022
	Attention: Harry Greenbaum
	
	With copies to:
	
	Choate, Hall & Stewart, LLP
	Two International Place
	Boston, MA 02100
	Attention: Brian P. Lenihan and Tobin P. Sullivan

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	HARTFORD HEALTHCARE ENDOWMENT, LLC
		
	By:	 	 /s/ David Holmgren

	Name:	 	David J. Holmgren
	Title:	 	Chief Investment Officer
	
	Address:
	
	80 Seymour Street - Cheney Bldg
	Hartford, CT 06102

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTORS:
	
	JANUS HENDERSON GLOBAL LIFE SCIENCES FUND
	
	By: Janus Capital Management LLC, its investment advisor
		
	By:	 	 /s/ Andrew Acker

	Name:	 	Andrew Acker
	Title:	 	Authorized Signatory
	
	JANUS HENDERSON CAPITAL FUNDS PLC ON BEHALF OF ITS SERIES JANUS HENDERSON GLOBAL LIFE SCIENCES FUND
	
	By: Janus Capital Management LLC, its investment advisor
		
	By:	 	 /s/ Andrew Acker

	Name:	 	Andrew Acker
	Title:	 	Authorized Signatory
	
	JANUS HENDERSON BIOTECH INNOVATION MASTER FUND LIMITED
	
	By: Janus Capital Management LLC, its investment advisor
		
	By:	 	 /s/ Andrew Acker

	Name:	 	Andrew Acker
	Title:	 	Authorized Signatory
	
	JANUS HENDERSON HORIZON FUND - BIOTECHNOLOGY FUND
	
	By: Janus Capital Management LLC, its investment advisor
		
	By:	 	 /s/ Andrew Acker

	Name:	 	Andrew Acker
	Title:	 	Authorized Signatory
	
	Address:
	
	Janus Capital Management LLC,
	151 Detroit Street
	Denver, CO 80206
	Attn: Andrew Acker
	Attn: Angela Morton
	
	with a copy, which shall not constitute notice, to:
	
	Perkins Coie LLP
	3150 Porter Drive
	Palo Alto, CA 94306
	Attn: Adrian Rich (Email: arich@perkinscoie.com)

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTORS:
	
	ECOR1 CAPITAL FUND, L.P.
	By: EcoR1 Capital, LLC, its General Partner
		
	By:	 	 /s/ Oleg Nodelman

	Name:	 	Oleg Nodelman,
	Title:	 	Manager
	
	ECOR1 CAPITAL FUND QUALIFIED, L.P.
	By: EcoR1 Capital, LLC, its General Partner
		
	By:	 	 /s/ Oleg Nodelman

	Name:	 	Oleg Nodelman,
	Title:	 	Manager
	
	ECOR1 VENTURE OPPORTUNITY FUND, L.P.
	By: Biotech Opportunity GP, LLC, its General Partner
		
	By:	 	 /s/ Oleg Nodelman

	Name:	 	Oleg Nodelman,
	Title:	 	Manager
	
	Address:
	
	357 Tehama Street #3
	San Francisco, CA 94103
	Attn: Scott Perlen 

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTOR:
	
	LOGOS OPPORTUNITIES FUND II, L.P.
	By: Logos Opportunities II GP, LLC
	Its General Partner
		
	By:	 	 /s/ Graham Walmsley

	Name:	 	Graham Walmsley
	Title:	 	Managing Member
		
	Address:	 	c/o Logos Capital
		 	1 Letterman Drive
		 	Building D, Suite D3-700
		 	San Francisco, CA 94129
		 	Attn: Virginia Yee
		 	Email: 
		
	By:	 	 /s/ Arsani William

	Name:	 	Arsani William
	Title:	 	Managing Partner
		
	Address:	 	c/o Logos Capital
		 	1 Letterman Drive
		 	Building D, Suite D3-700
		 	San Francisco, CA 94129
		 	Attn: Virginia Yee
		 	Email:

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 
			
	INVESTORS:
	
	BIOTECHNOLOGY VALUE FUND, L.P.
		
	By:	 	 /s/ Mark Lampert

	Name:	 	Mark Lampert
	Title:	 	Chief Executive Officer BVF I GP LLC, itself
		 	General Partner of Biotechnology Value Fund, L.P.
	
	BIOTECHNOLOGY VALUE FUND II, L.P.
		
	By:	 	 /s/ Mark Lampert

	Name:	 	Mark Lampert
	Title:	 	Chief Executive Officer BVF II GP LLC, itself
		 	General Partner of Biotechnology Value Fund II, L.P.
	
	BIOTECHNOLOGY VALUE TRADING FUND OS, L.P.
		
	By:	 	 /s/ Mark Lampert

	Name:	 	Mark Lampert
	Title:	 	President BVF Inc., General Partner of BVF Partners L.P.,
		 	itself sole member of BVF Partners OS Ltd., itself GP of Biotechnology Value Trading Fund OS, L.P.
	
	Address:
	
	c/o BVF Partners L.P. 44 Montgomery St., 40th Floor
	San Francisco, CA 94104
	Attn: James Kratky, CFO, CCO
	Email: 

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 SCHEDULE A 

SCHEDULE OF INVESTORS 
 Avalon Ventures XI,
L.P. 
 ABV SPV I, LP 
 Bregua Corporation 

Correlation Ventures II, L.P. 
 RA Capital Healthcare Fund, L.P.

 RA Capital Nexus Fund II, L.P. 
 OrbiMed Private Investments
VIII, LP 
 The Biotech Growth Trust PLC 
 OrbiMed Genesis
Master Fund, L.P. 
 WS Investment Company, LLC (2018A) 
 Janus
Henderson Global Life Sciences Fund 
 Janus Henderson Capital Funds plc - Janus Henderson Global Life Sciences Fund 

Janus Henderson Biotech Innovation Master Fund Limited 
 Janus
Henderson Horizon Fund - Biotechnology Fund 
 Biotechnology Value Fund, L.P. 

Biotechnology Value Fund II, L.P. 
 Biotechnology Value Trading
Fund OS, L.P. 
 EcoR1 Capital Fund, L.P. 
 EcoR1 Capital Fund
Qualified, L.P. 
 EcoR1 Venture Opportunity Fund, L.P. 

Citadel Multi-Strategy Equities Master Fund Ltd. 
 Samsara
Biocapital, L.P. 
 436, L.P. 
 Logos Opportunities Fund II,
L.P. 
 Hartford Healthcare Endowment, LLCEX-10.1

 Exhibit 10.1 

INDEMNITY AGREEMENT 

THIS INDEMNITY AGREEMENT (this “Agreement”) dated as of
___________ _____, 20__, is made by and between JANUX THERAPEUTICS, INC., a Delaware corporation (the “Company”), and _________________
(“Indemnitee”). 
 RECITALS 

A. The Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and agents.

 B. The Company’s Amended and Restated Bylaws (the “Bylaws”) require that the Company indemnify its
directors and officers, and empowers the Company to indemnify its employees and other agents, as authorized by the Delaware General Corporation Law, as amended (the “Code”), under which the Company is organized and
such Bylaws expressly provide that the indemnification provided therein is not exclusive and contemplates that the Company may enter into separate agreements with its directors, officers and other persons to set forth specific indemnification
provisions. 
 C. Indemnitee does not regard the protection currently provided by applicable law, the Bylaws, the Company’s
other governing documents, and available insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors, officers, employees and agents of the Company may not be willing to serve or continue
to serve in such capacities without additional protection. 
 D. The Company desires and has requested Indemnitee to serve or
continue to serve as a director, officer, employee or agent of the Company, as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity. 

E. Indemnitee is willing to serve, or to continue to serve, as a director, officer, employee or agent of the Company, as the case may
be, if Indemnitee is furnished the indemnity provided for herein by the Company. 
 AGREEMENT 

NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein,
the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Definitions. 

(a) Agent. For purposes of this Agreement, the term “Agent” of the Company means any person who: (i) is or
was a director, officer, employee, agent, or other fiduciary of the Company or a subsidiary of the Company; or (ii) is or was serving at the request or for the convenience of, or representing the interests of, the Company or a subsidiary
of the Company, as a director, officer, employee, agent, or other fiduciary of a foreign or domestic corporation, partnership, joint venture, trust or other enterprise. 

  
 1. 

 (b) Change in Control. For purposes of this Agreement, a “Change in
Control” shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), other than a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the
Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 20% or more of the total voting
power represented by the Company’s then outstanding Voting Securities, (ii) individuals who on the date of this Agreement are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least
a majority of the members of the Board (provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then
still in office, such new member shall be considered as a member of the Incumbent Board), or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation
which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total
voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an
agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all or substantially all of the Company’s assets. 

(c) Expenses. For purposes of this Agreement, the term “Expenses” shall be broadly construed and shall include,
without limitation, all direct and indirect costs of any type or nature whatsoever, including, without limitation, all attorneys’, witness, or other professional fees and related disbursements, and other out-of-pocket costs of whatever nature, actually and reasonably incurred by Indemnitee in connection with the investigation, defense or appeal of a proceeding or establishing or enforcing a right to
indemnification under this Agreement, the Code or otherwise. The term “Expenses” shall also include reasonable compensation for time spent by Indemnitee for which he or she is not compensated by the Company or any subsidiary
or third party: (i) for any period during which Indemnitee is not an Agent, in the employment of, or providing services for compensation to, the Company or any subsidiary; and (ii) if the rate of compensation and estimated time involved is
approved by the directors of the Company who are not parties to any action with respect to which Expenses are incurred, for Indemnitee while an Agent of, employed by, or providing services for compensation to, the Company or any subsidiary. 

(d) Independent Counsel. For purposes of this Agreement, the term “Independent Counsel” means a law firm, or a
partner (or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any
matter material to either such party, or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any
person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The
Company will pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and 

  
 2. 

 
all expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

(e) Liabilities. For purposes of this Agreement, the term “Liabilities” shall be broadly construed and shall
include, without limitation, judgments, damages, deficiencies, liabilities, losses, penalties, excise taxes, fines, assessments and amounts paid in settlement, including any interest and any federal, state, local or foreign taxes imposed as a result
of the actual or deemed receipt of any payment under this Agreement. 
 (f) Proceedings. For purposes of this Agreement, the term
“proceeding” shall be broadly construed and shall include, without limitation, any threatened, pending, or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature,
and whether formal or informal in any case, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness, or otherwise by reason of: (i) the fact that Indemnitee is or
was a director or officer of the Company; (ii) the fact that any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting as an Agent; or (iii) the
fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, and in any such case described
above, whether or not serving in any such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses may be provided under this Agreement. If the Indemnitee believes in good faith
that a given situation may lead to or culminate in the institution of a proceeding, this shall be considered a proceeding under this paragraph. 

(g) Subsidiary. For purposes of this Agreement, the term “subsidiary” means any corporation, limited liability
company, or other entity, of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as an Agent. 

(h) Voting Securities. For purposes of this Agreement, “Voting Securities” shall mean any securities of the
Company that vote generally in the election of directors. 
 2. Agreement to Serve. Indemnitee will serve, or continue to serve, as
the case may be, as an Agent, faithfully and to the best of his or her ability, at the will of such entity designated by the Company and at the request of the Company (or under separate agreement, if such agreement exists), in the capacity
Indemnitee currently serves such entity, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the governance documents of such entity, or until such time as Indemnitee tenders his or her
resignation in writing; provided, however, that nothing contained in this Agreement is intended as an employment agreement between Indemnitee and the Company or any of its subsidiaries or to create any right to continued employment of Indemnitee
with the Company or any of its subsidiaries in any capacity. 

  
 3. 

 The Company acknowledges that it has entered into this Agreement and assumes the obligations
imposed on it hereby, in addition to and separate from its obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as an Agent, and the Company acknowledges that Indemnitee is relying upon this Agreement in
serving as an Agent. 
 3. Indemnification. 

(a) Indemnification in Third Party Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest
extent permitted by the Code, as the same may be amended from time to time (but, to the fullest extent of the law, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior to adoption
of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding, other than a proceeding by or in the right of the Company to procure a judgment in its favor, for any and all Expenses and
Liabilities (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses and Liabilities) incurred by Indemnitee in connection with the investigation, defense, settlement or appeal of such
proceeding, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding had no reasonable cause to believe that
Indemnitee’s conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without limitation, any
indemnification provided by the Certificate of Incorporation of the Company, the Bylaws, vote of its stockholders or disinterested directors, or applicable law. 

(b) Indemnification in Derivative Actions and Direct Actions by the Company. Subject to Section 10 below, the Company shall
indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, fullest extent permitted by applicable law, only to the extent that such amendment permits Indemnitee to broader indemnification
rights than the Code permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding by or in the right of the Company to procure a judgment in its favor,
against any and all Expenses actually and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement, or appeal of such proceedings, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to
be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 3(b) in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court
competent jurisdiction to be liable to the Company, unless and only to the extent that the Chancery Court of the State of Delaware or any court in which the proceeding was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification. 
 4.
Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, in circumstances where indemnification is not available under Section 3(a) or 3(b), as the case may be, to the fullest extent permitted
by law and to the extent that Indemnitee is a party to (or a participant in) any proceeding and has been successful on the merits or otherwise in defense of any proceeding or in defense of any claim, issue or matter therein,

  
 4. 

 
in whole or part, including the dismissal of any action without prejudice, the Company shall indemnify Indemnitee against all Expenses and Liabilities in connection with the investigation,
defense or appeal of such proceeding. If Indemnitee is not wholly successful in such proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such proceeding, the Company shall
indemnify Indemnitee against all Expenses and Liabilities incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. 

5. Partial Indemnification; Witness Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of any Expenses and Liabilities incurred by Indemnitee in the investigation, defense, settlement or appeal of a proceeding, but is precluded by applicable law or the specific terms of this Agreement to
indemnification for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. Notwithstanding any other provision of this Agreement, to the fullest extent permitted by
applicable law and to the extent that Indemnitee is, by reason of Indemnitee’s acting as an Agent, a witness or otherwise asked to participate in any proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified against all
Expenses incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 
 6. Advancement of Expenses. To the extent
not prohibited by law, the Company shall advance the Expenses incurred by Indemnitee in connection with any proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement or statements
requesting such advances (which shall include invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that would
cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and upon request of the Company, an undertaking to repay the advancement of Expenses if and to the extent that it is ultimately determined by
a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the
Expenses. Advances shall include any and all Expenses incurred by Indemnitee pursuing an action to enforce Indemnitee’s right to indemnification under this Agreement or otherwise and this right of advancement, including expenses incurred
preparing and forwarding statements to the Company to support the advances claimed. Indemnitee acknowledges that the execution and delivery of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the fullest extent
required by law, repay the advance (without interest) if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the
Company. The right to advances under this Section shall continue until final disposition of any proceeding, including any appeal therein. This Section 6 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to
Section 10(b). 
 7. Notice and Other Indemnification Procedures. 

(a) Notification of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons, citation,
subpoena, complaint, indictment, information or other document relating to any proceeding or matter which may be subject to 

  
 5. 

 
indemnification or advancement of Expenses covered hereunder. The written notification to the Company shall include a description of the nature of the proceeding and the facts underlying the
proceeding. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise and any delay in so notifying the Company shall not constitute a waiver
by Indemnitee of any rights under this Agreement. 
 (b) Request for Indemnification Payments. To obtain indemnification under this
Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification under the terms of this Agreement, and shall request payment thereof by the Company. 
 (c)
Determination of Right to Indemnification Payments. Upon written request by Indemnitee for indemnification pursuant to the Section 7(b) hereof, a determination with respect to Indemnitee’s entitlement thereto shall be made in the
specific case by one of the following four methods, which shall be at the election of the Board of Directors: (1) by a majority vote of the disinterested directors, even though less than a quorum, (2) by a committee of disinterested
directors designated by a majority vote of the disinterested directors, even though less than a quorum, (3) if there are no disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion to the
Board of Directors, a copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board of Directors, by the stockholders of the Company; provided, however, that if there has been a Change in Control, then such
determination shall be made by Independent Counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). For purposes hereof, disinterested directors are those members of the board of directors of
the Company who are not parties to the action, suit or proceeding in respect of which indemnification is sought by Indemnitee. Indemnification payments requested by Indemnitee under Section 3 hereof shall be made by the Company no later than
sixty (60) days after receipt of the written request of Indemnitee. Claims for advancement of Expenses shall be made under the provisions of Section 6 herein. 

(d) Application for Enforcement. In the event the Company fails to make timely payments as set forth in Sections 6 or 7(b) above,
Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s right to indemnification or advancement of Expenses pursuant to this Agreement. In such an enforcement hearing or
proceeding, the burden of proof shall be on the Company to prove that indemnification or advancement of Expenses to Indemnitee is not required under this Agreement or permitted by applicable law. Any determination by the Company (including its Board
of Directors, a committee thereof, Independent Counsel) or stockholders of the Company, that Indemnitee is not entitled to indemnification hereunder, shall not be a defense by the Company to the action nor create any presumption that Indemnitee is
not entitled to indemnification or advancement of Expenses hereunder. 
 (e) Indemnification of Certain Expenses. The Company shall
indemnify Indemnitee against all Expenses incurred in connection with any hearing or proceeding under this 

  
 6. 

 
Section 7 unless the Company prevails in such hearing or proceeding on the merits in all material respects. 

8. Assumption of Defense. In the event the Company shall be requested by Indemnitee to pay the Expenses of any proceeding, the Company,
if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent permissible in such proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the
retention of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same proceeding, provided that Indemnitee shall have the
right to employ separate counsel in such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a written notice to the Company stating that such counsel has reasonably concluded
that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise actively pursued the defense of such proceeding within a reasonable
time, then in any such event the fees and Expenses of Indemnitee’s counsel to defend such proceeding shall be subject to the indemnification and advancement of Expenses provisions of this Agreement. 

9. Insurance. To the extent that the Company maintains an insurance policy or policies providing liability insurance for Agents
(“D&O Insurance”), Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such Agent under such policy or policies. If, at the
time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has D&O Insurance in effect or otherwise potentially available, the Company shall give prompt notice of the commencement of such proceeding to the insurers in
accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in
accordance with the terms of such policies. 
 10. Exceptions. 

(a) Certain Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee on account of any proceeding with respect to: (i) remuneration paid to Indemnitee if it is determined by final judgment or other final adjudication that such remuneration was in violation of law (and, in
this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore,
unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as indicated in Section 10(d) below); (ii) a final judgment rendered against Indemnitee for an accounting, disgorgement or
repayment of profits made from the purchase or sale by Indemnitee of securities of the Company against Indemnitee or in connection with a settlement by or on behalf of Indemnitee to the extent it is acknowledged by Indemnitee and the Company that
such amount paid in settlement resulted from Indemnitee’s conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of Section 16(b) of the Exchange Act or other provisions of any federal, state or local
statute or rules and regulations thereunder; (iii) a final judgment or other final adjudication 

  
 7. 

 
that Indemnitee’s conduct was in bad faith, knowingly fraudulent or deliberately dishonest or constituted willful misconduct (but only to the extent of such specific determination); or
(iv) on account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled. For
purposes of the foregoing sentence, a final judgment or other adjudication may be reached in either the underlying proceeding or action in connection with which indemnification is sought or a separate proceeding or action to establish rights and
liabilities under this Agreement. 
 (b) Claims Initiated by Indemnitee. Any provision herein to the contrary notwithstanding, the
Company shall not be obligated to indemnify or advance Expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee against the Company or its Agents and not by way of defense, except (i) with respect to
proceedings brought to establish or enforce a right to indemnification or advancement under this Agreement or under any other agreement, provision in the Bylaws or the Certificate of Incorporation or applicable law, or (ii) with respect to any
other proceeding initiated by Indemnitee that is either approved by the Board of Directors or Indemnitee’s participation is required by applicable law. However, indemnification or advancement of Expenses may be provided by the Company in
specific cases if the Board of Directors determines it to be appropriate. 
 (c) Unauthorized Settlements. Any provision herein to the
contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a proceeding effected without the Company’s written consent.
Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement; provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability for indemnification
hereunder in respect of) any proposed settlement if the Company is also a party in such proceeding and determines in good faith that such settlement is not in the best interests of the Company and its stockholders. 

(d) Securities Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Securities
Act”), or in any registration statement filed with the SEC under the Securities Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation S-K currently generally
requires the Company to undertake in connection with any registration statement filed under the Securities Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the
Securities Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and
to be bound by any such undertaking. 
 (e) Prior Payments Any provision herein to the contrary notwithstanding, the Company shall not
be obligated pursuant to the terms of this Agreement to indemnify or advance Expenses to Indemnitee under this Agreement for which payment has actually been made to or on 

  
 8. 

 
behalf of Indemnitee under any insurance policy or other indemnity provision, expect with respect to any excess beyond the amount paid under any insurance policy or indemnity policy. 

11. Nonexclusivity and Survival of Rights. The provisions for indemnification and advancement of Expenses set forth in this
Agreement shall not be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the Company’s Certificate of Incorporation, the Bylaws or other agreements, both as to action in
Indemnitee’s official capacity and Indemnitee’s action as an Agent, in any court in which a proceeding is brought, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an Agent and shall inure to the
benefit of the heirs, executors, administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be binding on the Company and its successors and assigns until terminated in accordance
with its terms. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment, alteration or repeal. To the extent that a change in the Code, whether by statute or judicial decision, permits greater
indemnification or advancement of Expenses than would be afforded currently under the Company’s Certificate of Incorporation, the Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent assertion or employment of any other right or remedy
by Indemnitee. 
 12. Term. This Agreement shall continue until and terminate upon the later of: (a) five (5) years after the
date that Indemnitee shall have ceased to serve as an Agent; or (b) one (1) year after the final termination of any proceeding, including any appeal then pending, in respect to which Indemnitee was granted rights of indemnification or
advancement of Expenses hereunder. 
 No legal action shall be brought and no cause of action shall be asserted by or in the right of the
Company against an Indemnitee or an Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the expiration of five (5) years from the date of accrual of such cause of action, and any claim or cause of
action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such five-year period; provided, however, that if any shorter period of limitations is otherwise applicable to such cause
of action, such shorter period shall govern. 
 13. [To be included if applicable:] Primacy of Indemnification.
The Company hereby acknowledges that Indemnitee has certain rights to indemnification, advancement of expenses and/or insurance provided by [Name of Fund/Sponsor] and certain of [its][their] affiliates

  
 9. 

 
(collectively, the “Fund Indemnitors”). The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary
and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) that it shall be required to advance the full amount of expenses incurred
by Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and the Certificate of Incorporation or
Bylaws of the Company (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Fund Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases the Fund
Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of
Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or
payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of the terms of this Section 13. 

14. Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of
the rights of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything that may be reasonably necessary to secure such rights, including the execution of such documents
necessary to enable the Company effectively to bring suit to enforce such rights. 
 15. Interpretation of Agreement. It is
understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide indemnification and advancement of Expenses to Indemnitee to the fullest extent now or hereafter permitted by law. 

16. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever,
(a) the validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all
portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by
the provision held invalid, illegal or unenforceable and to give effect to Section [14 / 15] hereof. 
 17. Amendment and
Waiver. No supplement, modification, amendment, or cancellation of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 18. Notice.
Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to or served upon the parties hereto shall be 

  
 10. 

 
in writing and, if by electronic transmission, shall be deemed to have been validly served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed
to have been validly served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been validly served, given or delivered three (3) business days after deposit in the United States mail, as registered or certified
mail, with proper postage prepaid and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement (or such other address(es) as a party may designate for itself by like notice). If to the
Company, notices and demands shall be delivered to the attention of the Secretary of the Company. 
 19. Governing Law. This
Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. 

20. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an
original but all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement. 

21. Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction hereof. 
 22. Entire Agreement. Subject to Section 11 hereof, this
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject matter
of this Agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Company’s Certificate of Incorporation, the Bylaws, the Code and any other applicable law, and shall not be deemed a substitute therefor, and
does not diminish or abrogate any rights of Indemnitee thereunder. 
 23. Contribution. To the fullest extent
permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee,
whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and
reasonable in light of all of the circumstances of such proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such proceeding; and/or
(ii) the relative fault of the Company and Indemnitee in connection with such event(s) and/or transaction(s). 
 24. Consent to
Jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware
(the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for
purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) 

  
 11. 

 
agree to appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, an agent in the State of Delaware as such party’s agent for acceptance of
legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of
any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

 

  
 12. 

 IN WITNESS WHEREOF, the
parties hereto have entered into this Agreement effective as of the date first above written. 
  

			
	JANUX THERAPEUTICS, INC.
		
	By:	 	      

		 	Name:                                     
                                
		 	Title:                                     
                                  
	
	INDEMNITEE
	
	  
 Signature of
Indemnitee

	
	  
 Print or Type Name of
Indemnitee

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