Document:

Exhibit 10.13

 

CONFIDENTIAL

 

[*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

 

 

 

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CONFIDENTIAL

 

This Research License Agreement (the “Agreement”)
is made effective on ____________________ (the “Effective Date”),

 

by and between

 

Selexis SA, 18 ch. des Aulx, 1228 Plan-les-Ouates,
Geneva, Switzerland SA (“Selexis”)

 

and

 

Oncobiologics, Inc. 7 Clarke Drive, Cranbury,
NJ 08512 (“COMPANY”)

 

BACKGROUND

 

Whereas, COMPANY is a biopharmaceutical Company
engaged in the research, development, manufacturing and sale of biopharmaceutical products; and

 

Whereas, Selexis is the owner of certain proprietary
and confidential information and know-how (“Selexis Know How”, as defined further below), and intellectual property
(“Selexis Patent Rights”, as defined further below); and

 

Whereas, Selexis is a biotechnology Company engaged
in the development and sale of recombinant cell lines based on proprietary technology (“Selexis Technology”, as defined
further below); and

 

Whereas, Selexis is willing to grant COMPANY,
and COMPANY is willing to receive from Selexis, Selexis Know-How and Selexis Patent Rights and licenses thereto related
to the Selexis Technology, on the terms and conditions set forth herein.

 

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CONFIDENTIAL

 

AGREEMENT

 

Now, therefore, the Parties, intending to be legally
bound hereby, do hereby agree as follows:

 

		1	Definitions

 

The following capitalized terms, whether used in
the singular or the plural, shall have the following meanings as used in this Agreement, unless otherwise specifically indicated:

 

1.1.          “Affiliate”
shall mean any Person that, at the date of this Agreement, directly or indirectly, through one or more intermediaries, controls,
is controlled by, or is under common control with the Party specified. For the purposes of this definition, “control”
shall mean the possession, direct or indirect, of the power to cause the direction of the management and policies of a Person,
whether through ownership of fifty percent (50%) or more of the voting securities of such Person, by contract or otherwise. A Person
shall only be considered an Affiliate for so long as such control exists.

 

1.2.          “Agreement”
shall mean as defined on Page 2, 1st paragraph.

 

1.3.          “Cell
Line” shall mean a mammalian cell line that is developed using the Selexis Technology.

 

1.4.          “Confidential
Information” shall, subject at all times to Section 9.2, mean: (i) information of one Party communicated to the other Party
that, if written, is marked “confidential” by the providing Party or, if oral, is reduced to writing and marked “confidential”
by the providing Party, and delivered to the receiving Party, within thirty (30) days of the oral disclosure, under, or as a result
of or in connection with, this Agreement, and (ii) information in respect of a Cell Line for any specific recombinant protein generated
under, or as a result of or in connection with this Agreement.

 

1.5.          “Contract
Manufacturing Organization” shall mean an entity of which at least fifty percent (50%) of the business is directed toward
the provision of services or products for non-affiliate third parties.

 

1.6.          “Effective
Date” shall have the meaning as given on Page 2, 1st paragraph.

 

1.7.          “Force
Majeure” shall mean any occurrence beyond the reasonable control of a Party that prevents or substantially interferes with
the performance by the Party of any of its obligations hereunder; including but not limited to acts of war, political unrest, severe
weather, flooding, fire, earthquakes or similar event.

 

1.8.          “COMPANY”
shall mean as defined on Page 2, 1st paragraph.

 

1.9.          “IND”
shall mean an Investigational New Drug Application for the Product filed with the FDA pursuant to 21 C.F.R. Part 312, or any comparable
filing made with a Regulatory Authority in another country (including the submission to a competent authority of a request for
an authorisation concerning a clinical trial, as envisaged in Article 9, paragraph 2, of European Directive 2001/20/EC).

 

1.10.         “Invention”
shall mean any invention, idea, innovation, enhancement, improvement or feature,

 

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CONFIDENTIAL

 

whether or not patentable
or registrable, together with any intellectual property rights relating thereto (including without limitation Patent Rights and
rights in confidentiality and proprietary information).

 

1.11.         “Know-How”
shall mean information in whatever form, including in any electronic, tangible or intangible medium, and includes information and
materials relating to Inventions and other know-how, trade secrets, data (including amongst other things all data from pre-clinical
and clinical studies and other studies intended for regulatory submission), results, formulae, DNA and amino acid sequence information
and developments.

 

1.12.         “Licensed
Field of Use” shall mean preclinical Research including production of an unlimited number of Cell Lines to produce an unlimited
number of recombinant proteins, and including the evaluation of the Cell Lines. For the avoidance of doubt, such activities do
not include the use of recombinant proteins expressed in clinical trials.

 

1.13.         “Licensed
Product” means a recombinant protein produced by a Cell Line developed hereunder.

 

1.14.         “Party”
shall mean Selexis or COMPANY, as the case may be; and “Parties” shall mean Selexis and COMPANY, collectively.

 

1.15.         “Patent
Rights” shall mean any and all of the following: (i) patent applications (including provisional patent applications) and
patents (including the inventor’s certificates); (ii) any substitution, extension (including patent term extensions and supplementary
protection certificate), registration, confirmation, reissue, continuation, divisional, continuation-in-part, re-examination, renewal,
patent of addition or the like thereof or thereto; (iii) any foreign counterparts of any of the foregoing; and (iv) any utility
model applications and utility models (whether or not corresponding to any of the foregoing).

 

1.16.         “Permitted
Collaboration” means a co-collaboration with a Third Party to [*] pursuant to a written agreement which includes (i) [*]
COMPANY and the Third Party and (ii) [*] or [*] for [*] under such agreement. By way of example and not limitation, a relationship
in which such Third Party engaged COMPANY to [*] in which [*] would not be a “Permitted Collaboration”; whereas
a relationship in which such Third Party and COMPANY [*] and pursuant to which [*] (even if [*]) would be a Permitted Collaboration.

 

1.17.         “Person”
shall mean an individual, a partnership, a joint venture, a corporation, a limited liability COMPANY, a trust, an estate,
an unincorporated organization, or any other entity, or a government or any department or agency thereof, whether acting in an
individual, fiduciary or other capacity.

 

1.18.         “Product”
means any pharmaceutical preparation in any form containing Licensed Product or any variant, homolog, derivative, fragment or fusion
thereof.

 

1.19.         “Research”
shall mean any activities excluding selling Cell Lines comprising Selexis

 

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CONFIDENTIAL

 

Technology, or selling
recombinant proteins generated from Cell Lines comprising Selexis Technology, or making any other commercial use thereof or testing
such proteins in a human subject, or filing of an IND. Activities that are excluded from Research shall only be undertaken after
a Commercial License Agreement of the type described in Section 3 hereof has been entered into by the Parties.

 

1.20.         “Selexis”
shall have the meaning as given on Page 2, 1st paragraph.

 

1.21.         “Selexis
Know-How” shall mean Selexis’ Confidential Information and Know-How relating to the construction and development of
recombinant Cell Lines for the manufacture of biopharmaceutical products and existing as of the Effective Date or obtained thereafter
during the Term of this Agreement.

 

1.22.         “Selexis
Materials” shall mean the materials provided by Selexis to COMPANY under this Agreement and all modifications and
improvements thereof made by Selexis during the term hereof, but does not include any Cell Line generated under this Agreement

 

1.23.         “Selexis
Patent Rights” shall mean Patent Rights that: (i) are owned or controlled by Selexis, (ii) which are necessary or useful
for the use of Selexis Materials or the construction and development of Cell Lines, and (iii) are existing as of the Effective
Date or obtained thereafter during the Term of this Agreement. Without limiting the definition set forth in this Section 1.19,
the Selexis Patent Rights as of the Effective Date are listed in Exhibit 1 hereto.

 

1.24.         “Selexis
Technology” shall mean the Selexis Patent Rights, Selexis Know-How and Selexis Materials.

 

1.25.         “Territory”
shall mean the entire world.

 

1.26.         “Third
Party” shall mean a Person other than Selexis, COMPANY or an Affiliate of Selexis or COMPANY.

 

1.27.         “Valid
Claim” shall mean any issued or granted claim of the Selexis Patent Rights, except those arising through the operation of
Section 6.5, that has not expired, lapsed, been revoked or held unenforceable or invalid by a decision of a court or other governmental
agency of competent jurisdiction, that is unappealable or remains unappealed at the end of the time allowed for appeal, or that
has not been disclaimed, denied or admitted to be invalid or unenforceable through reissue, re-examination, disclaimer or otherwise.

 

1.28.         “VAT”
shall mean value added tax and any other similar turnover, sales or purchase, tax or duty levied by any other jurisdiction whether
central, regional or local.

 

		2	Research License

 

		2.1.	Research License.
Selexis hereby grants to COMPANY a non-exclusive license (“Research License”) in the Territory, with the limited
right to sublicense as per Section 2.2 hereafter, under the Selexis Technology, to use the Selexis Technology strictly in the
Licensed Field of Use for

 

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CONFIDENTIAL

 

Research
alone or in connection with a Permitted Collaboration, but otherwise without collaboration with any Third Party.

 

		2.2.	License to Affiliate;
Sublicenses. At the request of COMPANY, Selexis shall grant additional Research Licenses to Affiliates of COMPANY
pursuant to terms and conditions identical to this Agreement. Such additional Research License(s) shall become effective upon
the execution of a written agreement identical to this Agreement among Selexis and the respective Affiliate of COMPANY.
COMPANY may grant sublicenses under the Research License only with the prior written consent of Selexis.

 

		2.3.	Research License
Term. The term of the Research License is one (1) year from the Effective Date (the “Research License Term”).
The Research License Term is automatically extended for additional one year periods unless COMPANY notifies Selexis in
writing to terminate the Research License with effect to the end of a given one year period no later than thirty (30) business
days prior to the end of the then-current one year period. The Research License shall in any case terminate on the third anniversary
of the Effective Date unless the Parties mutually agree in writing to further extend the term.

 

		2.4.	Selexis Materials. Selexis will provide COMPANY
with [*] and written protocols and explanations describing in sufficient detail the use and application of these [*].

 

		2.5.	Replacement of Selexis Materials. Upon written
request by COMPANY and within twenty (20) days of Selexis’s receipt of such request, Selexis, at no cost to COMPANY,
shall deliver a new shipment of then-current Selexis Materials to COMPANY, provided, however, that Selexis is not obliged
to deliver Selexis Materials at no cost more than two (2) times in any given year of this Agreement. Any additional delivery of
Selexis Material shall be made against payment of [*].

 

		2.6.	Training. To facilitate the transfer of Selexis
Know-how to COMPANY, Selexis agrees to provide to COMPANY the following training and services:

 

		-	on-site training for one employee of COMPANY for up to [*] business days at Selexis’
facilities. COMPANY shall pay for all travel related expenses including accommodations for its employee participating in
the training.

 

		-	[*] hours of consulting by telephone.

 

		-	[*] on-site training session annually, during the term of the agreement, for one employee of COMPANY
for up to [*] business days at Selexis’ facilities. COMPANY shall pay for all travel related expenses including accommodations
for its employee participating in the training.

 

		3	Commercial License Option

 

Selexis
hereby grants to COMPANY a non-transferable option to obtain a perpetual non-exclusive

 

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CONFIDENTIAL

 

worldwide
license with the right to sublicense through multiple levels of sublicensees, under the Selexis Technology to manufacture or have
manufactured a recombinant protein expressed by a Cell Line for clinical testing and for commercial sale to third parties. COMPANY
may exercise the foregoing option at any time during the Term of this Agreement. If COMPANY exercises the option, the Parties
shall negotiate in good faith the terms of a mutually acceptable Commercial License Agreement, which will provide, in part, as
described in Exhibit 2.

 

		4	Consideration

 

		4.1.	Payments.

 

		4.1.1	Research License Payment. Upon execution of this
Agreement by COMPANY, Company shall pay Selexis One Hundred Thousand Swiss Francs (CHF 100,000). [*] will be due Selexis
within [*] days of execution and the remaining [*] due within [*] days of execution of this Agreement.

 

		4.1.2	Research License Annual Payment. Upon any extension
of the Research License Term as described in Section 2.3, COMPANY shall, on the relevant anniversary of the Effective Date,
pay to Selexis One Hundred Thousand Swiss Francs (CHF 100,000) to extend the Research License Term for that year.

 

		4.2.	Mechanism of Payment. The payments due to Selexis
under this Agreement shall be made by wire transfer or electronic fund transfer (at COMPANY’s discretion) to the
credit and account of Selexis as follows:

 

Bank Name:      [*]

 

Account:           [*]

 

		To:	Selexis S.A.

18, ch. Des Aulx

1228 Plan-les-Ouates

Geneva, Switzerland

 

		4.3.	Payment Terms. Except for the Research License
Payment terms described in Section 4.1.1, COMPANY shall make payments due to Selexis under this Agreement at the latest
[*] days after receipt of Selexis’ invoice. All such fees and payments are exclusive of any VAT, other taxes, duties and
excises (collectively referred to as “Taxes).

 

		4.4.	Taxes.

 

		4.4.1	All Taxes levied on account of any payment made by COMPANY
to Selexis pursuant to this Agreement ( other than taxes on income, gains or profits levied against Selexis by any competent
Swiss tax authority) will be the responsibility of and shall be paid by

 

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CONFIDENTIAL

 

COMPANY in accordance
with this Article 4.

 

		4.4.2	Character of Payments. The Parties agree that, for purposes
of determining the applicability of any Taxes, the payments to be made under this Agreement constitute payments for tangible property
and licensure of intellectual property. However, in the event that the governing tax authority (“Tax Authority”) recharacterizes
such payment, any additional taxes that may be applied (including any interest and penalties that may be unpaid) shall [*],

 

		4.4.3	Withholding by COMPANY

 

		a)	All payments by COMPANY hereunder shall be made in full without any deduction or withholding
whatsoever and free and clear of and without any deduction or withholding for or on account of any Taxes, except to the extent
that any such deduction or withholding is required by law in effect at the time of payment. Any tax required to be withheld on
amounts payable under this Agreement shall promptly be paid by COMPANY on behalf of Selexis to the appropriate governmental
authority, and COMPANY shall furnish Selexis with proof of such payment of Taxes.

 

		b)	Each Party shall do all such lawful acts and things and execute and deliver such documents, deeds
and other papers and take such further actions as may be reasonably required to lawfully enable Selexis and COMPANY or their
respective Affiliates to mitigate withholding taxes, such as taking advantage of any applicable legal provisions or any double
taxation treaties, for the purpose of assigning to Selexis full tax credit for or recovery of amounts deducted or withheld by COMPANY
pursuant to paragraph (a) of this Article. In the event that Selexis is not able to fully enjoy the tax credit in its jurisdiction
for amounts so deducted or withheld, or recover such amounts, because COMPANY has failed to comply with this Article, COMPANY
shall pay the differences between (i) amounts of deduction or withholding made and (ii) the actual amount of tax credit which Selexis
obtained in its jurisdiction, grossed-up by such amount which represents withholding tax not recoverable by Selexis in form of
a tax credit or any other form.

 

		5	Intellectual Property

 

		5.1.	Ownership. Subject to the rights being granted
to Company hereunder, this Agreement will not affect either Party’s right and title in and to its Inventions and Know-How
which exists on the Effective Date of this Agreement or which is thereafter developed independently of the performance of this
Agreement.

 

		5.2.	Each Party represents that it has or will secure valid
and sufficient arrangements and agreements with its directors, officers and employees (which term shall include agents, consultants
and

 

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CONFIDENTIAL

 

subcontractors) to comply
with the Sections 5.3 to 5.6.

 

		5.3.	Notwithstanding Sections 5.4, 5.5, 5.6 and 5.7, any Invention
arising in connection with this Agreement relating to the use of a Cell Line developed hereunder for expressing any specific recombinant
protein, or to the specific recombinant protein itself, shall, subject to the terms of the Research License and/or any Commercial
License, be exclusive to COMPANY and treated as if owned by COMPANY. Unless otherwise agreed, COMPANY shall
have full control over the decision to file an application for a patent in respect of any such Inventions, including paying the
costs of obtaining, maintaining or defending any Patent Rights.

 

		5.4.	Subject at all times to Section 5.3, any Invention arising
in connection with this Agreement developed solely by COMPANY shall be COMPANY’s sole property and any Invention
developed solely by Selexis shall be Selexis’ sole property. Selexis shall during the Term pay all renewal fees and do all
such acts and things as may be necessary to maintain the Selexis Patent Rights.

 

		5.5.	Subject at all times to Section 5.3, any Invention arising
in connection with this Agreement developed jointly by the Parties, but which represents either expansion or extension of the
Patent Rights or Know-How of Selexis only, shall be owned solely by Selexis and shall form part of the Selexis Patent Rights.

 

		5.6.	Subject at all times to Section 5.3, any Invention arising
in connection with this Agreement developed jointly by the Parties, but which represents either an expansion or extension of the
Patent Rights or Know-How of COMPANY, including any Invention relating to a recombinant protein nominated by COMPANY,
shall be owned solely by COMPANY.

 

		5.7.	Subject at all times to Section 5.3, any Invention arising
in connection with this Agreement developed jointly by the Parties, which is not owned solely by one Party or the other in accordance
with this Agreement, shall be owned jointly by COMPANY and Selexis and shall be handled as follows:

 

		5.7.1	If both Parties agree to file an application for a patent
in respect of any such Invention (a “Joint Patent”) then the Parties shall share equally the filing and prosecution
costs related to such applications, the maintenance costs and the costs of defending any resulting patent from attack, and the
ownership and control of any Joint Patent (or other form of intellectual property protection) issuing thereon shall vest equally
with COMPANY and Selexis. Each Party shall have the right to use and sublicense the Invention provided that a fair and
reasonable share of net revenues, as agreed between the Parties acting in good faith, received by such Party as a result of such
use or sublicense shall be payable to the other Party.

 

		5.7.2	If the Parties agree that an application for a patent
may be filed but at any time one Party is unwilling to pay for its half of the costs of obtaining, maintaining or defending a
Joint Patent, such Party shall assign all its rights in and to such Invention (including its rights in

 

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any Joint Patent, its
right to a share in revenues received in relation to such Invention and its rights to use and sublicense the use of the Invention)
to the Party willing to pay all of those costs, whereupon it shall cease to be deemed a Joint Patent. The Party declining to share
such payment shall, at the reasonable cost of the other Party, render to the other Party such assistance, do such acts and execute
such documents as might reasonably be required to give that Party the full benefit of this Section 5.7.

 

		5.7.3	Each Party shall promptly notify the other Party of any
infringement of any Joint Patent which comes to its attention and the parties shall consult in good faith with a view to agreeing
a joint response to such infringement, including any proceedings against any infringer. In the event that the Parties agree to
respond jointly to the infringement, the Parties shall, unless otherwise agreed in writing, share equally all costs associated
therewith and any damages or account of profits awarded to the Parties or settlement sum negotiated by the Parties. Where one
Party alone (the “Responding Party”) wishes to take such proceedings, the other Party shall provide all reasonable
co-operation including but not limited to allowing (and doing all things reasonably necessary to allow) the other Party to prosecute
those proceedings in their joint names, provided that (i) the Responding Party shall be responsible for the entire cost of any
such legal proceedings and shall indemnify the other Party with regard to all costs, expenses, damages or account of profits awarded
against the other Party as a result of the other Party’s name being used in any proceedings, but the Responding Party shall
be entitled to all costs, damages, or account of profits that may be obtained or awarded; (ii) the Responding Party shall not
make any admissions, or consent to the making of any order by any court, regarding the scope, validity or enforceability of the
Joint Patent without the prior, written consent of the other Party; and (iii) the Responding Party shall keep the other Party
informed with regards to any steps taken in response to an infringement and shall consult the other Party over proposed future
steps that are likely to have a material effect on the conduct of any legal action.

 

		5.8.	Each of the Parties hereto will promptly notify the other
of any Invention arising in connection with this Agreement provided that COMPANY is only obliged to notify Selexis of such
Inventions to the extent they directly relate to the Selexis Technology.

 

		5.9.	In the event Selexis possesses, acquires, creates or
is licensed any improvements to the Selexis Technology, subject to any bona fide obligations owed by Selexis to third parties
(in respect of which Selexis has notified COMPANY), such improvements shall automatically be included in the Selexis Patent
Rights and/or the Selexis Know-how and thereby disclosed and licensed at no extra cost to COMPANY in accordance with this
Agreement.

 

5.10.         Third
Party Patent Rights. Selexis covenants that if Selexis becomes aware that COMPANY’s

 

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exploitation of its
rights hereunder would, or would allegedly infringe any Third Party proprietary rights, Selexis shall use its best efforts to resolve
such infringement at Selexis’ cost to ensure COMPANY’s freedom to continue to use the licenses pursuant to this
Agreement, including using reasonable endeavours to obtain a license from the Third Party owner of the proprietary rights which
entitles Selexis to continue to grant the rights to COMPANY as mentioned herein. Should such efforts not be successful,
Selexis shall inform COMPANY in writing and thereafter either Party may terminate this Agreement with immediate effect,
save that Selexis shall not have such right to the extent that COMPANY agrees to waive any liability Selexis would otherwise
have to COMPANY hereunder in respect of the infringement of the Third Party proprietary right in question.

 

5.11.         Enforcement
of Selexis Patent Rights. If during the Term, either Party becomes aware of any infringement or potential infringement of the
Selexis Technology, it shall promptly notify the other Party in writing and the Parties shall consult with each other to decide
the best way to respond to such infringement or misuse. Selexis covenants that if Selexis becomes aware of an infringement of the
Selexis Patent Rights by Third Parties in the Licensed Field of Use, Selexis shall use its best efforts to prevent or enjoin such
infringement. In the event Selexis is unable or unwilling to sue the alleged infringer within (i) [*] days of the date it becomes
aware of such infringement, or (ii) [*] days before the time limit, if any, set forth in the applicable laws or regulations for
the filing of such actions, whichever comes first, then COMPANY may, but shall not be required to take such action as COMPANY
may deem appropriate to prevent or enjoin the alleged infringement or threatened infringement of Selexis Patent Rights. In such
event, COMPANY shall act at its own expense, and Selexis shall cooperate reasonably with COMPANY at the expense of
COMPANY, and Selexis agrees to be named as a nominal Party. In the event of such action by COMPANY, the COMPANY
shall be entitled to all costs, damages, or accounts of profits that may be obtained or awarded.

 

5.12.         COMPANY
Intellectual Property. Subject to Section 5.7, COMPANY shall retain all right, title and interest in (and the unrestricted
right to use) any and all information, data, results, Know-How, products and the like, whether patentable or not, arising out of
the conduct of the licenses granted hereunder and all intellectual property appurtenant thereto, including without limitation the
Licensed Product composition or sequence and any related intellectual property. COMPANY shall have the unrestricted right
to publish or otherwise disclose the results and data obtained by the practice of the Selexis Technology provided such disclosure
does not include the Confidential Information of Selexis. Where appropriate and where reasonable, the name of Selexis shall be
given proper recognition in such publication(s) as scientifically appropriate.

 

5.13.         Further
assurance. Each Party agrees to execute and do all things at the cost of the other Party (if not specifically agreed otherwise)
as the other Party may reasonably require to give that other Party the full benefit of the provisions of this Section 5.

 

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		6	Representations, Warranties, and Covenants

 

		6.1.	Corporate Power. Each Party hereby represents
and warrants that such Party is duly organized and validly existing under the laws of the state (or country or other jurisdiction,
as the context requires) of its incorporation and has full corporate power and authority to enter into this Agreement and to carry
out the provisions hereof.

 

		6.2.	Due Authorization. Each Party hereby represents
and warrants that such Party is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder
and the person executing this Agreement on its behalf has been duly authorized to do so by all requisite corporate actions.

 

		6.3.	Binding Agreement. Each Party hereby represents
and warrants that this Agreement is a legal and valid obligation binding upon it and is enforceable in accordance with its terms,
except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium and other
laws relating to or affecting creditors’ rights generally and by general equitable principles and public policy.

 

		6.4.	No Conflicts. Each Party hereby represents and
warrants that the execution, delivery and performance of this Agreement by such Party does not conflict with any agreement, instrument
or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any law or regulation of any
court, governmental body or administrative or other agency having authority over it.

 

		6.5.	Additional Warranties by Selexis. Selexis hereby
warrants, represents and covenants to COMPANY that, to the best of its knowledge:

 

		6.5.1	As of the Effective Date, there are no Third Party intellectual
property rights that may be asserted against COMPANY claiming that the use by COMPANY of the Selexis Technology
under this Agreement constitutes an infringement thereof;

 

		6.5.2	As of the Effective Date, there is no pending litigation
or other legal proceeding which alleges that the use of Selexis Technology has infringed or misappropriated any of the intellectual
property rights of any Third Party, and Selexis has not received any claim that the use of Selexis Technology infringes on any
intellectual property rights of a Third Party or a request or demand from any Third Party for the licensing of any intellectual
property rights of such party in connection with the practice of the Selexis Technology;

 

		6.5.3	Selexis is the owner of or controls the Selexis Technology,
and has the right to grant COMPANY the rights granted COMPANY under this Agreement, and will not, knowingly during
the Term, grant any rights to any Third Party that would adversely affect COMPANY’s rights granted under this Agreement
or prevent Selexis from entering into a Commercial License Agreement with COMPANY;

 

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		6.5.4	The Selexis Technology is free and clear of any encumbrance,
lien, mortgage, charge, restriction or liability of any kind whatsoever, whether equitable or legal, that would conflict with
or impair the rights granted to COMPANY under this Agreement;

 

		6.5.5	As of the Effective Date, none of the Selexis Patent
Rights are involved in any interference or opposition proceeding, and Selexis has not received any request, demand or notice from
any Third Party threatening or disclosing such a proceeding with respect to any of the Selexis Patent Rights; and

 

		6.5.6	As of the Effective Date, Selexis has not received any
statement or assertion that (i) any claim in any of the Selexis Patent Rights is, or may be or become rendered, invalid or unenforceable,
(ii) any Third Party is aware of any basis as to the future potential invalidity or unenforceability of any claim of any of the
Selexis Patent Rights, or (iii) the Selexis Patent Rights do not list all required inventors.

 

		6.5.7	Any replacement Selexis Materials shall satisfy the characteristics
set forth in the Selexis Report and shall be free of mycoplasma or other pathogenic contamination.

 

6.6.          Notification.
Selexis shall notify COMPANY promptly during the Term of this Agreement, if:

 

		6.6.1	Selexis Patent Rights become involved in any interference
or opposition proceeding, or Selexis receives any request, demand or notice from any Third Party threatening or disclosing such
a proceeding with respect to any of the Selexis Patent Rights; or

 

		6.6.2	Selexis receives any statement or assertion that (i)
any claim in any of the Selexis Patent Rights is, or may be or become rendered, invalid or unenforceable, (ii) any Third Party
is aware of any basis as to the future potential invalidity or unenforceability of any claim of any of the Selexis Patent Rights,
or (iii) the Selexis Patent Rights do not list all required inventors.

 

		6.7.	Disclaimer of Warranties by Selexis. EXCEPT AS EXPRESSLY
SET FORTH IN THIS AGREEMENT, SELEXIS DOES NOT MAKE ANY REPRESENTATION OR WARRANTY TO COMPANY OF ANY NATURE, EXPRESS OR
IMPLIED, THAT THE SELEXIS TECHNOLOGY WILL BE USEFUL FOR, OR ACHIEVE ANY PARTICULAR RESULTS AS A RESULT OF ANY USE BY COMPANY
OF THE SELEXIS TECHNOLOGY PURSUANT TO ANY LICENSE GRANTED TO COMPANY UNDER THIS AGREEMENT. EXCEPT AS EXPRESSLY SET
FORTH IN THIS AGREEMENT, SELEXIS SPECIFICALLY DISCLAIMS ANY WARRANTY OF NONINFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR
PURPOSE.

 

		7	Indemnification

 

		7.1.	Indemnification by Selexis. During the Term and
thereafter, Selexis hereby agrees to save, defend and hold COMPANY, its Affiliates, and their respective officers, directors,
employees, consultants and

 

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CONFIDENTIAL

 

agents harmless from
and against any and all liability, damage, loss or expense (collectively, “Losses”) claimed by COMPANY or by
a Third Party resulting from the practice of licensed rights by COMPANY in accordance with this Agreement or breach of any
representation, warranty, or covenants of Selexis contained in this Agreement, except to the extent that such Losses result from
the gross negligence or intentional misconduct of COMPANY, its Affiliates, and their respective officers, directors, employees,
consultants and agents, provided however, that [*]. In the event COMPANY seeks indemnification under this Section 7.1, COMPANY
shall inform Selexis of a claim as soon as reasonably practicable after it receives notice of the claim, shall permit Selexis to
assume direction and control of the defence of the claim (including the right to settle the claim solely for monetary consideration),
and shall cooperate as requested (at Selexis’ expense) in the defence of the claim but provided always that Selexis may not
settle any such claim or otherwise consent to an adverse judgment or order in any relevant action or other proceeding or make any
admission as to liability or fault without the express written permission of COMPANY.

 

		7.2.	Indemnification
by COMPANY. During the Term and thereafter, COMPANY hereby agrees to save, defend and hold Selexis and its officers,
directors, employees, consultants and agents harmless from and against any and all Losses claimed by Selexis or by a Third Party
resulting from any breach of any representation, warranty, or covenants of COMPANY contained in this Agreement, or from
personal injury or damage to property caused by any Products, except to the extent that COMPANY is indemnified by Selexis
in respect of those Losses pursuant to Section 7.1 or that such Losses result from the gross negligence or intentional misconduct
of Selexis, its Affiliates, or their respective officers, directors, employees, consultants or agents. In the event Selexis seeks
indemnification under this Section 7.2, Selexis shall inform COMPANY of a claim as soon as reasonably practicable after
it receives notice of the claim, shall permit COMPANY to assume direction and control of the defence of the claim (including
the right to settle the claim solely for monetary consideration), and shall cooperate as requested (at COMPANY’s
expense) in the defence of the claim.

 

		7.3.	Insurance. COMPANY shall obtain and maintain
during the Term of this Agreement and for five (5) years thereafter product liability insurance in respect of any Products with
a reputable and solvent insurance provider in a commercially adequate amount. Such liability insurance shall insure against all
mandatory liability including liability for personal injury, physical injury and property damage. COMPANY shall provide
Selexis with written proof of the existence of such insurance upon request.

 

		8	Term and Termination

 

		8.1.	Term. This Agreement shall enter into effect on
the Effective Date. Unless earlier terminated pursuant to Sections 8.2, 8.3 or 8.4 this Agreement shall remain in full force and
effect until expiration of the Research License Term (such period, the “Term”).

 

		8.2.	Termination for Default. In addition to any other
remedies which may be available at law or equity,

 

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CONFIDENTIAL

 

and except as otherwise
provided for in Section 10.6 with respect to a Force Majeure event, in the event of any material breach of this Agreement by a
Party (“Default”), the Party not in default (“Non-Defaulting Party”) shall have the right to give the other
Party (“Defaulting Party”) written notice thereof (“Notice of Default”), which notice must state the nature
of the Default in reasonable detail and request that the Defaulting Party cure such Default within [*]. If such Default is not
cured within the period set forth herein after receipt of a Notice of Default by the Defaulting Party or if such Default is not
capable of being cured, then the Non-Defaulting Party, at its option, may terminate this Agreement by written notice effective
upon receipt.

 

		8.3.	Termination for Bankruptcy. In the event that
one or other Party shall become insolvent or make any arrangement with its creditors or has a receiver or administrator appointed
to the whole or any part of its assets or if an order shall be made or a resolution passed for its winding up unless such order
or resolution is part of a scheme for its amalgamation or reconstruction (“Insolvent Party”), the other Party shall
have the right to serve immediate notice of termination of this Agreement, effective upon receipt.

 

		8.4.	Termination by COMPANY. COMPANY
may terminate this Agreement at any time by giving [*] written notice to Selexis.

 

		8.5.	Effects of Expiration or Termination.

 

		8.5.1	Termination of Licenses. In the event of expiration of
this Agreement pursuant to Section 2.3 or a termination of this Agreement by COMPANY pursuant to Section 8.2 or 8.4 or
by Selexis pursuant to Sections 8.2 or 8.3, the rights and licenses granted under this Agreement shall terminate.

 

		8.5.2	Selexis Materials and Selexis Confidential Information.
Upon termination of this Agreement under Section 8.1, 8.2 or 8.3 wherein COMPANY is the Insolvent Party, COMPANY
shall dispose of all tangible embodiments, including Selexis Materials, and render inaccessible or useless all electronic embodiments,
of Selexis Confidential Information provided to COMPANY by Selexis hereunder, except that COMPANY may retain one
(1) copy thereof for legal archival purposes. COMPANY shall confirm and certify in writing that COMPANY has fully
complied with this Section 8.4.2.

 

		8.5.3	COMPANY Confidential Information. Upon any expiration
or termination of this Agreement, Selexis shall dispose of all tangible embodiments, and render inaccessible or useless all electronic
embodiments, of COMPANY Confidential Information provided to Selexis by COMPANY hereunder, except that Selexis may
retain one (1) copy thereof for legal archival purposes. Selexis shall confirm and certify in writing that COMPANY has
fully complied with this Section 8.

 

		8.5.4	Accrued Obligations. Expiration or termination of this
Agreement shall not relieve the

 

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CONFIDENTIAL

 

Parties of any obligation
or liability accruing prior to such expiration or termination and all ancillary provisions necessary for the implementation of
this Section 8 shall survive termination.

 

		8.5.5	Survival. Sections 5, 7, 8 and 9 shall survive termination
or expiration of this Agreement.

 

		9	Confidentiality

 

		9.1.	Nondisclosure. During the Term, for a period of
[*] thereafter or, in the case of subject matter [*], [*], each Party will maintain all Confidential Information of the other
Party including the terms and conditions of this Agreement as confidential and will not disclose any Confidential Information
to any Third Party except to its employees, agents, consultants and other representatives, who have a need to know such Confidential
Information and who are bound by obligations of confidentiality at least as restrictive as set forth herein. Each Party may use
such Confidential Information only to the extent required to accomplish the purposes of this Agreement. Each Party will use at
least the same standard of care as it uses to protect proprietary or confidential information of its own to ensure that its employees,
agents, consultants and other representatives do not disclose or make any unauthorized use of the Confidential Information.

 

		9.2.	Exceptions. Confidential Information shall not
include any information that the receiving Party can prove by competent evidence is:

 

		9.2.1	now, or hereafter becomes, through no act or failure
to act on the part of the receiving Party, generally known or available;

 

		9.2.2	known by the receiving Party at the time of receiving
such information, as evidenced by its records;

 

		9.2.3	hereafter furnished to the receiving Party by a Third
Party, without breach of any legal obligation and without restriction on disclosure;

 

		9.2.4	independently developed by the receiving Party without
the aid, application or use of Confidential Information of the disclosing Party; or

 

		9.2.5	the subject of a written permission to disclose provided
by the disclosing Party.

 

		9.3.	Authorized Disclosures. Each Party shall be permitted
to disclose Confidential Information of the other Party:

 

		9.3.1	to the extent that, such Confidential Information is
required to be disclosed to comply with applicable laws or regulations or with a court or administrative order; provided however
that, where practicable, such Party shall first have given written notice of such required disclosure to the other Party, shall
make reasonable efforts to narrow the scope of Confidential Information of the other Party required to be disclosed, and shall
take

 

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CONFIDENTIAL

 

reasonable steps to allow
the other Party at its own expense to seek a protective order to protect the confidentiality of the Confidential Information required
to be disclosed; or

 

		9.3.2	to establish rights or enforce obligations under this
Agreement, but only to the extent such disclosure is necessary and provided that such Party seeks confidential treatment of the
Confidential Information to be disclosed.

 

		10	Miscellaneous

 

10.1.          Assignment.
Neither this Agreement nor any interest hereunder shall be assignable by either Party without the prior written consent of the
other Party, not to be unreasonably withheld; provided that either Party may assign this Agreement and all of its rights and obligations
hereunder, without such consent, to an entity which acquires all or substantially all of the business or assets of such Party (or
the business or assets to which this Agreement pertains) whether by merger, consolidation, reorganization, acquisition, sale, license
or otherwise and provided that this Agreement is assigned in its entirety without amendment; and COMPANY may assign this
Agreement and all of its rights and obligations hereunder, without such consent, to an Affiliate if COMPANY remains liable
and responsible for the performance and observance of all of the Affiliate’s duties and obligations hereunder, and provided
that such Affiliate is not a Contract Manufacturing Organization. This Agreement shall be binding upon the successors and permitted
assigns of the Parties and the name of a Party appearing herein shall be deemed to include the names of such Party’s successors
and permitted assigns to the extent necessary to carry out the intent of this Agreement. Any assignment not in accordance with
this Section 10.1 shall be null and void.

 

10.2.          Compliance
with Governmental Obligations. Each Party shall comply, upon reasonable notice from the other Party, with all governmental
requests directed to either Party and provide all information and assistance necessary to comply with the governmental requests.

 

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

 

10.4.          Dispute
Resolution. The Parties agree that in the event of a dispute between them arising from, concerning or in any way relating to
this Agreement, the Parties shall undertake to resolve any such dispute in good faith. If after [*] of the matter first being raised
the Parties are unable to resolve such dispute, either Party may seek any remedy available pursuant Section 10.8

 

10.5.          Entire
Agreement. This Agreement (including the Exhibits attached hereto, which are incorporated herein by reference) sets forth all
of the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto with
respect to the subject matter hereof; constitutes and contains the complete, final, and exclusive understanding and agreement of
the Parties with respect to the subject matter hereof; and cancels, supersedes and

 

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CONFIDENTIAL

 

terminates
all prior agreements and understanding between the Parties with respect to the subject matter hereof. There are no covenants, promises,
agreements, warranties, representations conditions or understandings, whether oral or written, between the Parties other than as
set forth herein. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties hereto
unless reduced to writing and signed by the respective authorized officers of the Parties.

 

10.6.          Force
Majeure. Neither Party shall be liable to the other for loss or damages for any default or delay attributable to any Force
Majeure, if the Party affected shall give prompt notice of any such cause to the other Party. The Party giving such notice shall
thereupon be excused from such of its obligations hereunder as it is thereby disabled from performing for so long as it is so disabled,
provided, however, that such affected Party commences and continues to take reasonable and diligent actions to cure such cause;
and provided further that if any Force Majeure delays or prevents the performance of the obligations of either party for a continuous
period in excess of [*] months, the party not so affected shall then be entitled to give notice to the affected party to terminate
this Agreement, specifying the date (which shall not be less than [*] days after the date on which the notice is given) on which
termination will take effect. Such a termination notice shall be irrevocable, except with the consent of both parties, and upon
termination the provisions of Section 10.4 shall apply.

 

10.7.          Further
Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as
may be necessary or appropriate in order to carry out the purposes and intent of the Agreement.

 

10.8.          Governing
Law and Jurisdiction. This Agreement shall be governed by and interpreted in accordance with the substantive laws of [*] In
relation to any legal action or proceedings arising out of or in connection with this Agreement (“Proceedings”), each
of the Parties irrevocably submits to the exclusive jurisdiction of the [*] and waives any objection to Proceedings in such courts
on the grounds of venue or on the grounds that Proceedings have been brought in an inappropriate forum.

 

10.9.          Independent
Contractors. The relationship between Selexis and COMPANY created by this Agreement is one of independent contractors
and neither Party shall have the power or authority to bind or obligate the other Party except as expressly set forth in this Agreement.

 

10.10.         Interpretation
of Agreement. Article and other descriptive headings used in this Agreement are for reference purposes only and shall not constitute
a part hereof or affect the meaning or interpretation of this Agreement. Whenever the context so requires, the use of the singular
shall be deemed to include the plural and vice versa.

 

10.11.         License
Obligations. Nothing in this Agreement imposes any obligation upon a Party to enter into any other license or agreement with
the other Party.

 

10.12.         Non-Disclosure.
Except as otherwise required by law or regulation, and only after compliance

 

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CONFIDENTIAL

 

with this Section 10.12,
neither Party shall issue a press release or make any other disclosure of the existence of or the terms of this Agreement, or otherwise
use the name or trademarks or products of the other Party or the names of any employee thereof, without the prior written approval
of such press release or disclosure by the other Party, which shall not be unreasonably withheld.

 

10.13.         Notices.
All notices and other communications required by this Agreement shall be in writing in the English language and shall be deemed
given if delivered personally or by facsimile transmission (receipt verified), mailed by registered or certified mail (return receipt
requested), postage prepaid, or sent by express courier service, to the Parties at the following addresses (or at such other address
for a Party as shall be specified by like notice, provided, however, that notices of a change of address shall be effective only
upon receipt thereof):

 

If to COMPANY, addressed to:

 

Oncobiologics, Inc.

7 Clarke Drive

Cranbury, New Jersey

08512

 

Attention:           Chief Executive Officer

With a copy to:   Vice President of Business
Development

Fax:                   +1 (609) 619-3980

 

If to Selexis, addressed to: Selexis, S.A.

 

18 Chemin des Aulx

1228 Plan-les-Ouates

Geneva, Switzerland

 

Attention:           Accountant

With a copy to:   CEO, Igor Fisch, Ph.D.

Facsimile:          +41 22 308-9361

 

or to such addresses or addresses as the Parties
hereto may designate for such purposes during the Term. Notices shall be deemed to have been sufficiently given or made: (i) if
by facsimile with confirmed transmission, when performed, and (ii) if by air courier upon receipt by the Party.

 

10.14.         Parties
in Interest. This Agreement shall be binding upon and inure solely to the benefit of COMPANY and Selexis (and their
permitted successors and assigns) and nothing in this Agreement (express or implied) is intended to or shall confer upon any Third
Party any rights, benefits or remedies of any nature whatsoever under or by reason of this Agreement..

 

10.15.         Severability.
If any term, covenant or condition of this Agreement or the application thereof to any Party or circumstance shall, to any extent,
be held to be invalid or unenforceable, then the remainder of this Agreement, or the application of such term, covenant or condition
to parties or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected

 

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CONFIDENTIAL

 

thereby and each term,
covenant or condition of this Agreement shall be valid and be enforced to the fullest extent permitted by law.

 

10.16.         Use
of Name. No right, express or implied, is granted to either Party by this Agreement to use in any manner any trademark or trade
name of the other Party including the names “Oncobiologics Inc.” and “Selexis” without the prior written
consent of the owning Party.

 

10.17.         Waiver.
The failure on the part of a Party to exercise or enforce any rights conferred upon it hereunder shall not be deemed to be a waiver
of any such rights nor operate to bar the exercise or enforcement thereof at any time or times hereafter.

 

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CONFIDENTIAL

 

 

The Parties, having read the terms of this Agreement
and intending to be legally bound hereby, do hereby execute this Agreement.

 

	SELEXIS	 	 
	 	 	 	 	 
	By:	     /s/ Dr. Igor Fisch	 	By:	    /s/ Regine Brokamp
	Name: Dr Igor Fisch	 	Name: Regine Brokamp
	Title: CEO	 	Title: Duly Authorized  COO
	Date:	 	Date: 03.10.11
	 	 	 
	COMPANY	 	 
	 	 	 	 	 
	By:	    /s/ Jeremy M. Caudill	 	By:	 
	Name: Jeremy M. Caudill	 	Name:
	Title: VP Business Development	 	Title:
	Date: September 30th, 2011	 	Date:

 

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CONFIDENTIAL

  

EXHIBIT 1

 

SELEXIS PATENT RIGHTS

 

[*]

 

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CONFIDENTIAL

  

EXHIBIT 2

 

Selexis Commercial Licensing Conditions

 

———————————

Biosimilar Molecules:

Milestone Payments:

 

a) Sixty five thousand Swiss Francs (CHF
65,000) at contract signature

b) [*]

c) [*]

 

Royalty Payments:

[*]

Option to buyout royalties at commercialization for
each Product containing Licensed Product lump sum payment of 1,750,000 CHF

[*]

 

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CONFIDENTIAL

 

AMENDMENT
No. 1 TO

RESEARCH LICENSE AGREEMENT

 

THIS AMENDMENT NO. 1 (“Amendment”)
by and between Oncobiologics Inc. (“Company”) and Selexis SA (“Selexis”) is dated as of October
9th, 2014 (“Effective Date”).

 

Oncobiologics Inc. and Selexis entered into a Research
License Agreement effective as of September 30th, 2011 (the “License Agreement”).

 

The parties desire to amend the
License Agreement to extend the Research License Term as set forth herein.

 

NOW, THEREFORE, the parties hereto,
in consideration of the agreements below and intending to be legally bound hereby, agree as follows:

 

1.          Extension.
The parties hereby agree to extend the Research License Term for three (3) additional years and, accordingly, the Research License
Term will now expire October 9th, 2017, unless earlier terminated as provided for in the License Agreement. Company
shall pay to Selexis a Research License Annual Payment of [*], to be paid in one (1) installment for each yearly extension of the
Research License Term.

 

2.          Counterparts.
This Amendment may be executed in counterparts, each of which shall be deemed an original, but which taken together shall constitute
one and the same agreement. The parties agree that a facsimile signature on the Amendment shall be binding evidence of a party’s
signature (such facsimile which may also be forwarded by email).

 

3.          Effect
of Agreement. Except as amended hereby, all provisions of the Agreement are hereby ratified and shall continue in full force
and effect and are incorporated herein by reference. This Amendment shall be governed by and construed consistently with the terms
of the Agreement. Any capitalized terms not defined herein will have the same meaning as in the Agreement.

 

    	 	 	 
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CONFIDENTIAL

 

IN WITNESS WHEREOF, the undersigned
have executed this Amendment as of the date set forth above.

 

	Company:	 
	 	 	 
	By:	     /s/ Stephen J. McAndrew	 
	 	 
	Name: Stephen J. McAndrew, Ph.D.	 
	Title: Sr. Vice President, Business Strategy & Development
	 	 
	Selexis SA	 
	 	 	 
	By:	   /s/ Regine Brokamp	 
	 	 
	Name: Regine Brokamp	 
	Title: COO	 
	 	 
	Selexis SA	 
	 	 	 
	By:	    /s/ Girod, Pierre-Alain	 
	 	 
	Name: Girod, Pierre-Alain	 
	Title: CSO	 

 

    	 	 	 
	[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.Exhibit 10.14

 

[*] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant
to Rule 406 of the Securities Act of 1933, as amended.

 

 

AND

 

Oncobiologics, Inc.

 

Commercial License Agreement

 

April 11, 2013

 

     

     

    

  

CONFIDENTIAL

 

This Commercial License Agreement (this “Agreement”)
is made effective on April 11, 2013 (the “Effective Date”)

 

by and between

 

Selexis SA, a company
incorporated under the laws of Switzerland, with its registered office at 18 chemin des Aulx, 1228 Plan-les-Ouates, Geneva,
Switzerland (“SELEXIS”)

 

and

 

Oncobiologics, Inc., a
company incorporated under the laws of the United States, with its registered office at 7 Clarke Drive, Cranbury, New
Jersey 08512 (“COMPANY”) (SELEXIS and COMPANY, collectively the “PARTIES” and,
individually, a “PARTY”).

 

Preamble

 

		A.	Whereas,
COMPANY is a biopharmaceutical company engaged in the research, development, manufacturing and sale of biopharmaceutical products;

 

		B.	Whereas,
SELEXIS is a biotechnology company engaged in the development and sale of recombinant cell lines based on the SELEXIS Technology;

 

		C.	Whereas,
SELEXIS is the owner of certain Confidential Information, the SELEXIS Know-How and the SELEXIS Patent Rights;

 

		D.	Whereas,
pursuant to a Research License Agreement between the PARTIES dated October 3, 2011 (the “Research License Agreement”)
COMPANY has developed certain recombinant cell line(s) and/or COMPANY Material using the SELEXIS Technology, SELEXIS Know-How
and SELEXIS Patent Rights, and COMPANY has evaluated such cell Line(s); and

 

		E.	Whereas,
SELEXIS is willing to grant COMPANY, and COMPANY is willing to receive from SELEXIS, a commercial license to the SELEXIS Know-How
and the SELEXIS Patent Rights with respect to the SELEXIS Technology, on the terms and conditions set forth in this Agreement.

 

Now,
Therefore, the PARTIES agree as follows:

 

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CONFIDENTIAL

 

		1.	Definitions

 

In addition to the terms defined above, the following
terms, whether used in the singular or plural, shall have the following meanings as used in this Agreement, unless otherwise specifically
indicated:

 

		1.1.	“Affiliate” shall mean any Person
that, as of the Effective Date, directly or indirectly, controls, is controlled by, or is under common control with the relevant
Person. For the purposes of this definition only, “control” shall mean the possession, directly or indirectly,
of the power to cause the direction of the management and policies of a Person, whether through ownership of voting securities
of such Person, by contract or otherwise. A Person shall only be considered an Affiliate for so long as such control exists.

 

		1.2.	“BLA” shall mean a Biologic License
Application for the Final Product filed with the FDA or any comparable filing made with a Regulatory Authority in another country.

 

		1.3.	“Calendar Quarter” shall mean,
for each Calendar Year, each of the three month periods ending March 31, June 30, September 30 and December 31, respectively.

 

		1.4.	“Calendar Year” shall mean the
period commencing on January 1 and ending twelve (12) consecutive calendar months later on December 31.

 

		1.5.	“Cell Line” shall mean a mammalian
cell line that is developed using the SELEXIS Technology. Cell Line shall include, without limitation, any Company-Specific Cell
Line(s) developed by COMPANY under the Research License Agreement which have employed SELEXIS Technology, SELEXIS Know-How and/or
SELEXIS Patent Rights.

 

		1.6.	“Clinical Trials” shall mean
human studies designed to measure the safety and/or efficacy of the Product. Clinical Studies include Phase I Clinical Trials,
Phase II Clinical Trials, and Phase Ill Clinical Trials.

 

		1.7.	“Collaboration Partner” shall
mean a Third Party with which COMPANY collaborates on the development and/or commercialization of a Licensed Product or to which
COMPANY has granted a license for the development and/or commercialization of a Licensed Product, provided that [*] or [*] or
[*] for [*].

 

		1.8.	“Combination Product Adjustment”
shall mean the adjustment of: Net Sales for any combination product done by multiplying actual Net Sales of such combination product
by the fraction A/(A + B) where A is the weighted (by sales volume) average invoice price of the Product, if sold separately,
and B is the weighted (by sales volume) average invoice price of any other active ingredient, device or component in the combination,
if sold separately. If, on a country-by-country basis, the other active ingredient, device or component in the combination is
not sold separately, Net Sales shall be calculated by multiplying actual Net Sales of the combination product in such country
by the fraction A/C where A is the invoice price of the Product, if sold separately, in such country and C is the invoice price
of the combination product in such country.

 

		1.9.	“Commercial License” shall have
the meaning set out in Article 2.1.

 

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CONFIDENTIAL

  

		1.10.	    “Commercial License Option” shall
mean the option granted to Company in the Research License Agreement to obtain a non-exclusive commercial license.

 

		1.11.	   “Company Protein” shall mean
the recombinant protein listed in Exhibit 2.

 

		1.12.	   “Company-Specific Cell Line”
shall mean a Cell Line that has been modified by Company under the Research License Agreement to specifically express the Company
Protein.

 

		1.13.	   “COMPANY Technology” shall mean
any Technology owned or controlled by COMPANY, including, without limitation, any such Technology related to Licensed or Final
Product, but excluding any SELEXIS Technology related thereto.

 

		1.14.	   “Confidential Information” shall
mean any technical and business information pertaining to materials and production techniques, products, processes and services,
including without limitation physical working models and samples of the products, research, development, patentable and unpatentable
inventions, manufacturing, purchasing and product development plans, forecasts, strategies and information, engineering, marketing,
merchandising, selling, customer lists, customer prospects, software codes, algorithms, names and expertise of employees and consultants,
blueprints, technical information, trade secrets or know-how or other related proprietary business information and data, in any
case whether such information is provided in tangible or intangible form, written, oral, graphic, pictorial or recorded form or
stored on computer discs, hard drives, magnetic tape or digital or any other electronic medium. Confidential Information disclosed
in any tangible format will be labelled “Confidential” or words to similar effect, and all non-tangible disclosures
will be declared to be “Confidential” or words to similar effect at the time of disclosure. Confidential Information
shall include any and all material and data created by the receiving party based on, containing or otherwise reflecting Confidential
Information. Confidential Information shall also include any such information or documents which may be disclosed hereunder which
the disclosing party received in confidence from a Third Party.

 

		1.15.	   “Contract Manufacturing Organization”
shall mean an entity of which at least fifty percent (50%) of the business is directed toward the provision of biologic manufacturing
services or products for non-affiliate third parties.

 

		1.16.	   “Contractor” shall mean a Third
Party contractor who: (i) develops the production process for Licensed Products by or on behalf of COMPANY, or (ii) manufactures
and supplies Licensed Products by using such production process by or on behalf of COMPANY.

 

		1.17.	   “Default” shall have the meaning
set out in Article 9.2.

 

		1.18.	   “Defaulting Party” shall have
the meaning set out in Article 9.2.

 

		1.19.	   “FDA” shall mean the United States
Food and Drug Administration, or any successor agency.

 

		1.20.	   “Final Product” shall mean any
pharmaceutical preparation in final form containing any Licensed Product(s) for sale by prescription, over-the-counter or any
other method, in any dosage form, formulation,

 

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CONFIDENTIAL

 

presentation, line
extension or package configurations, including without limitation such Licensed Product in development where the context so requires
in this Agreement.

 

1.21.    “First
Commercial Sale” shall mean, with respect to any Final Product in any country, the first sale of such Final Product
for use or consumption by the general public in such country after Regulatory Approval as well as Pricing and Reimbursement Approval
for such Final Product has been obtained in such country. For the avoidance of doubt, sales prior to receipt of all Regulatory
Approvals and Pricing and Reimbursement Approvals necessary to commence regular commercial sales, such as so-called “treatment
IND sales”, “named patient sales” and “compassionate use sales”, shall not be construed as a First
Commercial Sale.

 

1.22.     “Force
Majeure” shall mean conditions beyond the control of a PARTY, including without limitation, an act of God, war, civil
commotion, terrorist act, labor strike or lock-out, epidemic, failure or default of public utilities or common carriers, destruction
of facilities or materials by fire, earthquake, storm or the like catastrophe, and failure of plant or machinery (provided that
such failure could not have been prevented by the exercise of skill, diligence and prudence that would be reasonably and ordinarily
expected from a skilled and experienced person engaged in the same type of undertaking under the same or similar circumstances).

 

1.23.     “IND”
shall mean an Investigational New Drug Application for the Final Product filed with the FDA or any comparable filing made with
a Regulatory Authority in another country.

 

1.24.     “Insolvent
Party” shall have the meaning set out in Article 9.3.

 

1.25.     “Invention”
shall mean any invention, idea, innovation, enhancement, improvement or feature, whether or not patentable or registrable, together
with any intellectual property rights relating thereto (including without limitation, the Patent Rights and rights to confidentiality
and proprietary information).

 

1.26.     “Know-How”
shall mean information in whatever form, tangible or intangible and on whatever medium, including without limitation, information
and materials relating to Inventions and other know-how, trade secrets, data (including without limitation, all data from pre-clinical
and clinical studies and other studies intended for regulatory submission), results, formulae, DNA and amino acid sequence information
and related developments.

 

1.27.     “Licensed
Field of Use” shall mean the development, manufacture and sale of Final Products for any field of use.

 

1.28.     “Licensed
Product” shall mean Company Protein made or derived from any Selexis Materials, including, without limitation, the
Company-Specific Cell Lines.

 

1.29.     “Losses”
shall mean all and any liability, damage, loss or expense.

 

1.30.      “Net
Sales” shall mean the amount collected by COMPANY, its Affiliates, its Sublicensees and/or any Collaboration Partner
with whom the Parties enter into a tri-party agreement pursuant to Section 2.3, on account of sales of Final Product to Third Parties
in the Territory, less the following deductions:

 

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		(i)	sales and excise taxes and duties paid or allowed by the
selling PARTY and any other governmental charges imposed upon the production, importation, use or sale of the Final Products;

 

		(ii)	customary trade, quantity and cash discounts allowed on
Final Products;

 

		(iii)	compulsory government rebates;

 

		(iv)	allowances or credits to customers on account of rejection
or return of Final Product or on account of retroactive price reductions affecting the Final Product;

 

		(v)	freight and insurance costs, if they are included in the
selling price for the Final Product invoiced to Third Parties, provided always that such deduction shall not be greater than the
balance between the selling price actually invoiced to the Third Party and the standard selling price which would have been charged
to such Third Party for such Final Product exclusive of freight and insurance in the respective country or in a comparable country;
and

 

		(vi)	in the event that a Final Product is sold in any country
in the form of a combination product containing one or more other therapeutically active ingredients, the Net Sales for any such
Final Product shall be computed using the Combination Product Adjustment for such country.

 

1.31.      “Non-Defaulting
Party” shall have the meaning set out in Article 9.2.

 

1.32.      “Notice
of Default” shall have the meaning set out in Article 9.2.

 

1.33.      “Patent
Rights” shall mean any and all of the following: (i) patent applications (including without limitation provisional
patent applications) and patents (including without limitation the inventor’s certificates); (ii) any substitution, extension
(including without limitation patent term extensions and supplementary protection certificates), registration, confirmation, reissue,
continuation, divisional, continuation-in-part, re-examination, renewal, patent of addition or the like thereof or thereto; (iii)
any foreign counterparts of any of the foregoing; and (iv) any utility model applications and utility models (whether or not corresponding
to any of the foregoing).

 

1.34.      “Person”
shall mean an individual, a partnership, a joint venture, a corporation, a limited liability company, a trust, an estate, an unincorporated
organization, or any other entity, or a government or any department or agency thereof, whether acting in an individual, fiduciary
or other capacity.

 

1.35.      “Phase
I Clinical Trial” shall mean a Clinical Trial conducted in humans which is principally intended to obtain data on
the safety, tolerability, pharmacokinetic or pharmacodynamic properties of a product. Phase I shall be deemed to have commenced
when the first patient in the study has been treated. Phase I shall be deemed to have completed when the last patient has completed
his or her treatment being investigated by that Clinical Trial as described in its protocol, the database is locked, and data from
all patients, according to protocol, has been analyzed for the primary endpoint.

 

1.36.      “Phase
II Clinical Trial” shall mean a Clinical Trial conducted in humans in which the primary objective is a preliminary
determination of therapeutic efficiency and/or to find an optimal dose range in patients with

 

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the disease target
being studied. Phase II shall be deemed to have commenced when the first patient in the study has been treated. Phase II shall
be deemed to have completed when the last patient has completed his or her treatment being investigated by that Clinical Trial
as described in its protocol, the database is locked, and data from all patients, according to protocol, has been analyzed for
the primary endpoint.

 

1.37.     “Phase
Ill Clinical Trial” shall mean a Clinical Trial conducted in humans in which the primary objective is a determination
of therapeutic efficiency in patients with the disease target being studied. Phase Ill shall be deemed to have commenced when the
first patient in the study has been treated. Phase Ill shall be deemed to have completed when the last patient has completed his
or her treatment being investigated by that Clinical Trial as described in its protocol, the database is locked, and data from
all patients, according to protocol, has been analyzed for the primary endpoint.

 

1.38.     “Price
and Reimbursement Approval” shall mean any approvals, licenses, registrations or authorizations of any supranational,
national, regional, state or local Regulatory Authority or other regulatory agency, department, bureau or governmental entity,
necessary to determine or set the pricing of a Product, and/or its reimbursement level by the relevant health authorities, providers
or other funding institutions, at supranational, national, regional, state or local level.

 

1.39.     “Regulatory
Approval” shall mean any approvals, licenses, registrations or authorizations of any supranational, national, regional,
state or local Regulatory Authority or other regulatory agency, department, bureau or governmental entity, necessary for the manufacture,
marketing or sale of a Product or conduct of Clinical Trials in a regulatory jurisdiction, excluding Price and Reimbursement Approval.

 

1.40.     “Regulatory
Authority” shall mean (i) the FDA or (ii) any and all governmental or supranational agencies, ministries, authorities
or other bodies with similar regulatory authority with respect to approval or registration of pharmaceutical or biologic products
in any other jurisdiction anywhere in the world.

 

1.41.     “Royalty
Term” shall mean with respect to each Final Product sold in a particular country, the period beginning on the date
of the First Commercial Sale in such country and terminating on the expiration of the last-to-expire or lapse of any Valid Claims
in such country covering [*].

 

1.42.     “SELEXIS
Know-How” shall mean SELEXIS’ Confidential Information and Know-How owned, controlled by SELEXIS, or to which
SELEXIS has received a license which includes a right to grant sublicenses consistent with the Commercial License relating to,
without limitation, the construction and development of recombinant cell lines for the manufacture of biopharmaceutical products
and existing as of the Effective Date or obtained thereafter during the Term.

 

1.43.     “SELEXIS
Materials” shall mean the materials provided by SELEXIS to COMPANY under this Agreement and all modifications and
improvements thereof made by SELEXIS during the Term.

 

1.44.     “SELEXIS
Patent Rights” shall mean Patent Rights which: (i) are owned or controlled by SELEXIS, or to which SELEXIS has received
a license which includes a right to grant sublicenses consistent with the

 

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CONFIDENTIAL

 

Commercial License
(ii) are necessary or useful for the use of SELEXIS Materials or the construction, development and use of Cell Lines and (iii)
are existing as of the Effective Date or obtained thereafter during the Term. Without limiting the generality this Article, the
SELEXIS Patent Rights as of the Effective Date are listed in Exhibit 1 hereto.

 

1.45.     “SELEXIS
Technology” shall mean the SELEXIS Patent Rights, the SELEXIS Know-How and the SELEXIS Materials.

 

1.46.     “Tax
Authority” shall mean the relevant governing tax authority as defined in Article 4.2.

 

1.47.     “Taxes”
shall mean all excises, taxes and duties with the exception of VAT.

 

1.48.     “Technology”
shall mean all inventions (whether or not patentable or patented) and intellectual property rights therein, including without limitation,
patents, patent applications, know-how, trade secrets, copyrights, trademarks, designs, concepts, registered and unregistered design
rights, data, work product, results, reports, improvements, business and research plans, analytic methods and results, experimental
methods and results, manufacturing processes, developments, technologies, technical information, composites of genes and gene constructs,
cell lines, manuals, standard operating procedures, instructions and specifications.

 

1.49.     “Term”
shall have the meaning set out in Article 9.1.

 

1.50.     “Territory’’
shall mean the entire world.

 

1.51.     “Third
Party” shall mean a Person other than SELEXIS, COMPANY or an Affiliate of SELEXIS or COMPANY.

 

1.52.     “Transferee”
shall have the meaning set out in Article 2.3.

 

1.53.     “Valid
Claim” shall mean any issued or granted claim of the SELEXIS Patent Rights that has not been revoked or held unenforceable
or invalid by a decision of a court or other governmental agency of competent jurisdiction, that is unappealable or remains unappealed
at the end of the time allowed for appeal, or that has not been disclaimed, denied or admitted to be invalid or unenforceable through
reissue, re-examination, disclaimer or otherwise.

 

1.54.     “VAT”
shall mean value added tax and any other similar turnover, sales or purchase, tax or duty levied by any other jurisdiction whether
central, regional or local.

 

		2.	Commercial Licenses

 

		2.1.	Commercial Licenses.
Subject to payment by COMPANY of the amounts provided for below and COMPANY’s compliance with the other terms and conditions
of this Agreement, SELEXIS hereby grants to COMPANY a non-exclusive license under the SELEXIS Patent Rights and SELEXIS Know-How,
in the Territory, with the limited right to sublicense in accordance with Article 2.2, to use (and have used only by permitted
Sublicensees in accordance with Sections 2.2 and 2.3) Company-Specific Cell Lines and

 

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CONFIDENTIAL

 

SELEXIS
Materials for the manufacture of Licensed and/or Final Products in the Licensed Field of Use and to make, have made, use, offer
for sale, sell, import and otherwise exploit Licensed and/or Final Products, including, without limitation, the use of Licensed
and Final Products in Clinical Trials (the “Commercial License”).

 

		2.2.	Sublicenses.

 

		2.2.1.	COMPANY may solely, without prior written consent from SELEXIS,
grant sublicenses under the Commercial License to (i) a Contractor or a Collaboration Partner for and only with respect to [*]
or [*], or (ii) a Collaboration Partner for and only with respect to [*] or [*]. In the event that [*] any sublicense of any rights
granted under the Commercial License to a Collaboration Partner or a Contractor [*], [*] thereof and the parties [*] sublicenses
under this Section 2.2.1 [*].

 

		2.2.2.	Any sublicenses other than those expressly permitted without
consent pursuant to Section 2.2.1, including, without limitation, with respect to [*], shall require the prior written consent
of SELEXIS, which consent will not be unreasonably withheld, conditioned or delayed.

 

		2.2.3.	If COMPANY grants any sublicenses permitted or consented
to hereunder, it shall notify SELEXIS within thirty (30) days of any such sublicense grant and report the name and address of
any such sublicensee (each, a “Sublicensee”) together with written certification by an officer of COMPANY that
the Sublicensee has agreed in writing to adhere to the relevant provisions of this Agreement. Notwithstanding the above, COMPANY
is and remains fully liable and responsible for any breach of this Agreement committed or any Losses caused by any Sublicensee,
or any other Third Party or Affiliate to whom the Company-Specific Cell Lines, SELEXIS Materials and the SELEXIS Know How or parts
thereof are made available under any such sublicense.

 

		2.3.	Tri-Party Agreements. In the event that SELEXIS is
unable, due to restrictions on its rights to permit COMPANY to grant any sublicense of any rights granted under the Commercial
License to a Collaboration Partner or a Contractor, to consent to any sublicense pursuant to Section 2.2.1, then the parties agree
to use diligent efforts to negotiate a tri-party agreement among SELEXIS, COMPANY and such Collaboration Partner or Contractor
(each a “Tri-Party Agreement”), pursuant to which: (a) SELEXIS will grant a non-transferable, non-sublicenseable,
royalty-free, non-exclusive license to such Collaboration Partner or Contractor, under the SELEXIS Know-How and the SELEXIS Patent
Rights, to use the Company-Specific Cell Lines: (i) solely for uses that are reasonably related to the development, manufacture,
use, commercialization and/or sale of the Licensed or Final Products in the relevant territory; and (ii) in accordance with Applicable
Laws; (b) such license shall be subject to obligations and restrictions comparable to those set forth in this Agreement, provided
that such Tri-Party Agreement will not include any payment obligations comparable to those set forth in Article 3 or otherwise;
and (c) COMPANY will remain responsible for all financial obligations to SELEXIS under this Agreement for the entire Territory,
including the territory granted to such Collaboration Partner or Contractor and including, without limitation, payment with respect
to any Net Sales therein.

 

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CONFIDENTIAL

 

		2.4.	Transfer of SELEXIS Materials. COMPANY shall not
transfer the Cell Lines, SELEXIS Materials or SELEXIS Know-How to any Third Party, except that during and for the Term only, COMPANY
may transfer SELEXIS Know-How to Contractors or Collaboration Partners (the “Transferees”) solely for their
use in connection with their development of the production process and/or manufacturing of Licensed Products with, or on behalf
of, COMPANY, pursuant either to a sublicense as permitted or consented to under Section 2.2 or a Tri-Party Agreement. If COMPANY
makes any such transfer, it shall notify SELEXIS within thirty (30) days of any such transfer and report the name and address
of any Transferee together with confirmation that the Transferee has agreed in writing to adhere to the confidentiality obligations
and use restrictions set out in this Agreement.

 

		3.	Consideration

 

		3.1.	Payments.

 

3.1.1.     Commercial
License Execution Payment. As partial consideration for the rights and licenses granted by SELEXIS to COMPANY under this Agreement,
COMPANY shall pay SELEXIS a one-time fee of CHF 65,000.00 (Sixty-Five Thousand Swiss Francs), due within ten (10) business days
of execution of this Agreement.

 

3.1.2.     Commercial
License Milestone Payments. As partial consideration for the rights and licenses granted by SELEXIS to COMPANY under this Agreement,
COMPANY shall make the following milestone payments to SELEXIS with respect to the first occurrence of each such milestone event
for each Licensed Product:

 

(i)    [*]
CHF 65,000.00 (Sixty-Five Thousand Swiss Francs); and

 

(ii)   [*]
CHF 300,000 (Three Hundred Thousand Swiss Francs).

 

3.1.3.    Commercial
License Royalty Payments: In addition to the milestone payments under Article 3.1.2, during the Royalty Term, COMPANY shall
pay SELEXIS on a Product-by-Product and country-by-country basis a royalty of [*] of Net Sales of all Final Products sold worldwide.
Where royalties are due for the sale of Final Products directly by COMPANY, such royalties shall be paid for each Calendar Quarter
within [*] of the end of that Calendar Quarter. Where royalties are due for the sales of Final Product by a Sublicensee, payment
shall be made within [*] of the end of that Calendar Quarter. For the avoidance of doubt, no royalty payments shall be due for
a Final Product in a specific country after the Royalty Term has expired for such Final Product in such country. Where royalties
are no longer due in accordance with the foregoing, the Commercial License granted to COMPANY under this Agreement shall become
perpetual, irrevocable, fully paid up and royalty free with respect to such Final Product in such country.

 

3.1.4.    Royalty
Buyout. At any time during the Term, COMPANY shall have the right to terminate its obligation to pay a royalty pursuant to
Section 3.1.3 of this Agreement with respect to all Final Product

 

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CONFIDENTIAL

 

containing a specific
Licensed Product by paying to SELEXIS the sum of CHF 1,750,000 (One Million One Hundred Seventy-Five Thousand Swiss Francs) (a
“Royalty Termination Fee”). In order to exercise this right, COMPANY shall notify SELEXIS in accordance with
Section 11.10 of this Agreement that it is paying the Royalty Termination Fee for all Final Product containing the specified Licensed
Product in such notice. Provided that the Royalty Termination Fee is paid to SELEXIS within five (5) business days of such notice
in accordance with Section 3.2 of this Agreement, the notice shall be effective as of the first day of the Calendar Quarter in
which the notice was delivered, thereby terminating the royalty obligation for all Final Product containing the specified Licensed
Product for that Calendar Quarter and thereafter. Payment of a Royalty Termination Fee shall apply only to all Final Product containing
a single Licensed Product [*]. For avoidance of doubt, upon COMPANY paying a Royalty Termination Fee under this Agreement, no
royalties shall thereafter be due to SELEXIS under this Agreement.

 

		3.2.	Mechanism of Payment. The payments due to SELEXIS
under this Agreement shall be made either by check or by wire transfer or electronic fund transfer to the credit and account of
SELEXIS, as follows:

 

Bank Name:         [*]

 

Account:              [*]

 

		To:	Selexis S.A.

18, chemin des Aulx

1228 Plan-les-Ouates

Geneva, Switzerland

 

		3.3.	Payment Terms. Except with respect to royalties due
pursuant to Article 3.1.3, COMPANY shall make payments due to SELEXIS under this Agreement at the latest [*] business days after
receipt of invoice. All fees and payments, including without limitation under Article 3.1.3, do not include any applicable VAT
or Taxes.

 

		3.4.	Records. COMPANY and its Affiliates and Sublicensees
shall keep true accounts of Net Sales of Licensed Products and COMPANY shall deliver to SELEXIS at the same time as the payments
due under Article 3.1.3, a written account, including quantities of Net Sales of each such Licensed Product, broken down
on a country-by-country basis with respect to those payments. SELEXIS is entitled to have such accounts audited by an independent
expert of its choice. Such independent expert shall be bound by confidentiality terms at least as restrictive as the terms of
Article 8 and shall be authorized to disclose to SELEXIS only the results of its audit. COMPANY shall provide access to all information
reasonably requested by such expert. The cost of any audit shall be borne by SELEXIS unless the audit shows that COMPANY underpaid
SELEXIS by more than [*] of the amounts due, in which case, the cost of the audit shall be borne by COMPANY.

 

		3.5.	Single Royalty and Milestone. For Final Products
covered by more than one SELEXIS Patent Rights, COMPANY will make one payment to SELEXIS for royalties on any unit of Final Product
sold by COMPANY or Sublicensees, irrespective of how many SELEXIS Patent Rights may cover such Final

 

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Product. Each milestone
described in Article 3 shall be payable only once in relation to each Licensed Product, irrespective of the number of Final Products
which incorporate that Licensed Product and undergo the events triggering the payment. All fees and payments, including without
limitation under Article 3.1, do not include any applicable VAT or Taxes.

 

		4.	Taxes

 

		4.1.	General. All Taxes levied on account of any payment
made by COMPANY to SELEXIS pursuant to this Agreement (other than Taxes on income, gains or profits levied against SELEXIS by
any competent Swiss tax authority) will be the responsibility of, and shall be paid by, COMPANY pursuant to Article 4.2.

 

		4.2.	Character of Payments. The PARTIES agree that, for
purposes of determining the applicability of any Taxes, the payments to be made under this Agreement constitute payments for tangible
property and the license of intellectual property. However, in the event that the governing tax authority (the “Tax Authority”)
qualifies such payment differently, any additional taxes that may be applied (including without limitation, any interest and penalties
that may be unpaid) shall [*].

 

		4.3.	Withholding by COMPANY.

 

		(i)	All payments by COMPANY hereunder shall be made in full
without any deduction or withholding whatsoever, and free and clear of and without any deduction or withholding for or on account
of any Taxes, except to the extent that any such deduction or withholding is required by any law in effect at the time of payment.
Subject to paragraph (ii) of this Article, if any Taxes or amounts with respect to Taxes must be deducted or withheld, or any
other deductions or withholdings must be made, from any amounts payable or paid by COMPANY, [*] and [*] deduction or withholding.

 

		(ii)	[*] pursuant to paragraph (i) of this Article with respect
to any deduction or withholding [*] if [*] or [*].

 

		5.	Intellectual Property

 

		5.1.	Ownership. Each PARTY shall retain all right, title
and interest in and to its Inventions and Know-How which exist on the Effective Date or which are thereafter developed independently
of the performance of this Agreement.

 

		5.2.	COMPANY and SELEXIS Inventions. Any Invention developed
hereunder by or for either Party, solely or jointly with the other PARTY or any Affiliate or agent thereof, shall belong exclusively
(i) to COMPANY, to the extent it relates specifically to any COMPANY Technology, including, without limitation, any improvement
or modification thereto (“COMPANY Invention”); or (ii) to SELEXIS, to the extent it relates specifically to
any SELEXIS Technology, including, without limitation, any improvements or modifications thereto (“SELEXIS Invention”).
Any SELEXIS Inventions shall be included within the scope of the SELEXIS Technology licensed to COMPANY under this Agreement as
provided for within Article 5.5. Notwithstanding the foregoing, such ownership shall not be construed to transfer to either PARTY

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ownership of or any
license or other rights in or to any of the other PARTY’s underlying Technology which may be included or embodied therein,
or useful or necessary to use in connection with exploiting such Invention.

 

		5.3.	Other Inventions. Except as set forth in Article
5.2, any other Invention developed hereunder solely by COMPANY shall be COMPANY’s sole property and any other Invention
developed hereunder solely by SELEXIS shall be SELEXIS’ sole property. The PARTIES do not anticipate that there will be
any jointly developed Inventions hereunder, but if there are any other such jointly developed Inventions which do not relate to
either the SELEXIS Technology or the COMPANY Technology, such Inventions shall be owned jointly by COMPANY and SELEXIS (“Joint
Inventions”). In the event any such Joint Inventions arise, the PARTIES will use commercially reasonable efforts to
cooperate to protect and/or exploit such Joint Inventions, including, without limitation, sharing those costs incurred
through protection of such Joint Inventions and sharing in revenues generated by the use or sublicense of such Joint Inventions.

 

		5.4.	Notification. Each PARTY shall promptly notify the
other PARTY of any Invention arising in connection with this Agreement, provided, however, that COMPANY has no obligation
to notify SELEXIS with respect to any COMPANY Inventions developed solely by or on behalf of COMPANY.

 

		5.5.	Improvements. In the event SELEXIS possesses, acquires,
creates or is licensed (with the right to grant a sublicense consistent with the terms of the Commercial License) any improvements
to the SELEXIS Technology which are necessary or useful for COMPANY to use in connection with the development of Cell Lines as
licensed hereunder, such improvements shall automatically be included in the SELEXIS Patent Rights and/or the SELEXIS Know-How
and thereby disclosed and licensed at no extra cost to COMPANY in accordance with this Agreement; provided, however,
that any rights granted by the foregoing will be subject to COMPANY’s compliance with any bona fide obligations owed to
Third Parties (with respect to which, SELEXIS has notified COMPANY of such obligations), including, without limitation, [*].

 

		5.6.	Third Party Patent Rights. SELEXIS covenants that if SELEXIS becomes aware that
                                                                              COMPANY’s use of the SELEXIS Technology in accordance with the terms hereunder would or would likely infringe any Third
                                                                              Party proprietary rights, SELEXIS shall use its reasonable commercial efforts to resolve such potential infringement at
                                                                              SELEXIS’ cost to ensure COMPANY’s freedom to continue to exercise the licenses granted under this Agreement,
                                                                              including without limitation, by using its reasonable commercial efforts to obtain a license from such Third Party owner of
                                                                              proprietary rights which entitles SELEXIS to continue to grant the rights to COMPANY as provided for herein. Should
                                                                              such efforts not be successful, SELEXIS shall inform COMPANY in writing and thereafter, subject to such notification, either
                                                                              PARTY may terminate this Agreement with immediate effect, save that SELEXIS shall not have such right if COMPANY agrees to
                                                                              waive any liability SELEXIS would otherwise have to COMPANY hereunder with respect to the infringement of such Third Party
                                                                              proprietary rights. The obligations set forth in this Article pertain solely to Third Party rights specifically and solely
                                                                              related to the SELEXIS Technology or SELEXIS Materials licensed hereunder, and do not apply to any other technology or
                                                                              materials used by COMPANY at its discretion in

 

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connection with its
exercise of the license rights granted hereunder, and specifically exclude any such Third Party rights which relate to the Licensed
Product(s) produced by any Cell Lines hereunder.

 

		5.7.	Enforcement of SELEXIS Patent Rights. If, during
the Term, either PARTY becomes aware of any infringement or potential infringement of the SELEXIS Technology, it shall promptly
notify the other PARTY in writing and the PARTIES shall immediately consult with each other to decide the best way to respond
to such infringement or misuse, provided that SELEXIS shall remain free to take any action it deems fit and in its sole discretion.

 

		5.8.	COMPANY Publications. COMPANY shall have the unrestricted
right to publish or otherwise disclose the results and data obtained by the practice of the SELEXIS Technology in accordance with
the terms hereof, provided, however, that such publication or disclosure does not include any Confidential Information
of SELEXIS. The name of SELEXIS shall be given proper recognition in such publication(s) as scientifically appropriate.

 

		5.9.	Further Assurance. Each PARTY agrees to execute and
effect all necessary steps at the cost of the other PARTY (if not specifically agreed to otherwise) and as the other PARTY may
reasonably require to give the other PARTY the full benefit of the provisions of this Article 5.

 

		6.	Representations, Warranties, and Covenants

 

		6.1.	General. Except for the representations, warranties
and covenants set forth in this Article 6, the PARTIES do not make any other representations, nor give any other warranties, express
or implied, nor undertake to any other covenants. The PARTIES expressly exclude any and all other representations, warranties
and covenants.

 

		6.2.	Representations and Warranties by the PARTIES. Each
PARTY hereby represents and warrants to the other PARTY that:

 

6.2.1.    Corporate
Power. It is duly organized and validly existing under the laws of the state (or country or other jurisdiction, as the case
may be) of its incorporation and has full corporate power and authority to enter into this Agreement and to carry out the provisions
hereof.

 

6.2.2.    Due
Authorization. It is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the
persons executing this Agreement on its behalf have been duly authorized to do so by all requisite corporate actions.

 

6.2.3.    Binding
Agreement. This Agreement is a legal and valid obligation binding upon it and is enforceable in accordance with its terms,
except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium and other
laws relating to or affecting creditors’ rights generally and by general equitable principles and public policy.

 

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CONFIDENTIAL

  

6.2.4.    No
Conflicts. The execution, delivery and performance of this Agreement by itself does not conflict with any agreement, instrument
or understanding, oral or written, to which it is a PARTY or by which it may be bound.

 

6.2.5.    Intellectual
Property Rights. Each PARTY represents that it has valid and sufficient arrangements and agreements with its directors, officers
and employees (which term shall include agents, consultants and subcontractors) such that ownership of intellectual property rights
in and to any Inventions made by its directors, officers and employees vests in such PARTY.

 

		6.3.	Additional Representations and Warranties by SELEXIS.
SELEXIS hereby represents and warrants that, to the best of its knowledge, as of the Effective Date:

 

6.3.1.    There
is no pending litigation asserting that the use of the SELEXIS Technology or the SELEXIS Know-How constitutes an infringement or
misappropriation of any intellectual property rights of a Third Party;

 

6.3.2.    SELEXIS
has the right in and to the SELEXIS Technology, SELEXIS. Know-How and the SELEXIS Patents to grant COMPANY the rights which are
granted to COMPANY under this Agreement; and

 

6.3.3.    SELEXIS
has the rights necessary to grant a non-transferable, non-sublicenseable royalty-free, non-exclusive license to a Collaboration
Partner or Contractor, under the SELEXIS Know-How and the SELEXIS Patent Rights, to use the Company-Specific Cell Lines solely
for uses that are reasonably related to the development, manufacture, use, commercialization and/or sale of the Licensed or Final
Products in part of the Territory, as contemplated by Section 2.3.

 

		6.4.	Additional Warranties
                                         by COMPANY. COMPANY hereby represents and warrants to SELEXIS that:

 

6.4.1.    There
are no Third Party intellectual property rights or any other rights that may be asserted against SELEXIS claiming that SELEXIS
was or is directly infringing or is helping or assisting COMPANY in infringing such Third Party’s rights in connection with
COMPANY’s exercise of the Commercial License granted by SELEXIS hereunder (except to the extent that any such Third Party
rights relate solely and specifically to the SELEXIS Technology and/or SELEXIS Materials), including, without limitation, the development,
manufacture and commercialization of Licensed Products and/or Final Products as permitted hereunder; and

 

6.4.2.    As
of the Effective Date, to the best of its knowledge, there is no litigation pending against COMPANY in connection with the use
or ownership of the Company Protein and/or Licensed Product, including, without limitation, the infringement or misappropriation
of any intellectual property rights of a Third Party relating to the Company Protein and/or Licensed Product, and COMPANY has not
received any written claim that the use thereof infringes on any intellectual property rights of a Third Party or a request or
demand from any Third Party for the licensing of any intellectual property rights to such Third Party in connection with the use
of the Company Protein and/or Licensed Product.

 

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6.4.3.    COMPANY
will not knowingly misappropriate or infringe the intellectual property or other rights of any Third Party in connection with its
exercise of its licensed rights hereunder, including, without limitation, use of any SELEXIS Technology, Cell Line, or development,
manufacture or sale of Licensed and/or Final Product hereunder, and understands and agrees that SELEXIS will have no liability
whatsoever for any such misappropriation or infringement to the extent they do not relate solely and specifically to the use of
the SELEXIS Technology and/or SELEXIS Materials hereunder.

 

		6.5.	Disclaimer of Warranties
by SELEXIS. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT AND WITHOUT LIMITING THE GENERALITY OF ARTICLE 6.1, SELEXIS DOES
NOT MAKE NOR GIVE ANY REPRESENTATION OR WARRANTY TO COMPANY OF ANY NATURE, EXPRESS OR IMPLIED, THAT THE SELEXIS TECHNOLOGY WILL
BE USEFUL FOR, OR ACHIEVE ANY PARTICULAR RESULTS AS A RESULT OF ANY USE THEREOF BY SELEXIS OR BY COMPANY PURSUANT TO ANY LICENSE
GRANTED TO COMPANY UNDER THIS AGREEMENT. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, SELEXIS SPECIFICALLY DISCLAIMS ANY WARRANTY
OF NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

 

		7.	Liability and Indemnification

 

		7.1.	Indemnification by
SELEXIS. During the Term and thereafter, SELEXIS hereby agrees to save, defend and hold COMPANY, its Affiliates, and their
respective officers, directors, employees, consultants and agents harmless from and against any and all Losses resulting directly
from (i) any Third Party claim alleging that Customer’s use of the SELEXIS Technology and/or the SELEXIS Materials in strict
accordance with the terms of this Agreement infringes or misappropriates such Third Party’s intellectual property or other
property right (except to the extent such claim relates to the use of the SELEXIS Technology and/or SELEXIS Materials in combination
with any technologies or materials not supplied by SELEXIS or any modifications made by anyone other than SELEXIS to the SELEXIS
Technology or SELEXIS Materials); or (ii) any material breach of SELEXIS’ representations, warranties and covenants set
forth in Article 6; except in each case to the extent that such Losses were caused by willful misconduct or gross negligence of
COMPANY or any of its Affiliates, Collaborators or Sublicensees. In the event COMPANY seeks indemnification under this Article
7.1, COMPANY shall notify SELEXIS of any claim as soon as reasonably practicable after it receives notice of the claim. COMPANY
shall then allow SELEXIS to conduct and control the defense against the claim (including without limitation to settle the claim
solely for monetary consideration), shall (at SELEXIS’ expense) execute and deliver such documents and other papers and
take such further actions as may be reasonably required to defend against the claim (including without limitation to settle the
claim solely for monetary consideration) and shall (at SELEXIS’ expense) cooperate as requested by SELEXIS in the defense
of the claim, provided always that SELEXIS may not settle any such claim or otherwise consent to an adverse judgment or

 

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order
in any relevant action or other proceeding which includes any admission as to liability or fault without the prior express written
consent of COMPANY, which consent will not be unreasonably withheld.

 

		7.2.	Indemnification by
COMPANY. During the Term and thereafter, COMPANY hereby agrees to save, defend and hold SELEXIS and its officers, directors,
employees, consultants and agents harmless from and against any and all Losses resulting directly from (i) Third Party claims
in connection with personal injury or damages to property caused by the Company Protein, Licensed Products and/or Final Products,
including, without limitation, any product liability claims however stated; (ii) Third Party claims relating to any use of the
Cell Lines, SELEXIS Technology and/or SELEXIS Materials outside the scope of the license granted herein or otherwise not in strict
compliance with the terms hereof, or any use of the Cell Lines, SELEXIS Technology and/or SELEXIS Materials in conjunction with
technology or materials not provided by SELEXIS, or any modifications to the SELEXIS Technology and/or SELEXIS Materials (except
in each of the foregoing cases, to the extent SELEXIS is obligated to indemnify COMPANY pursuant to Article 8.1 above); or (iii).
any material breach of COMPANY’s representations, warranties and covenants set forth in Article 6; in each case, except
to the extent that such Losses result from the willful misconduct or gross negligence of SELEXIS or its Affiliates. In the event
SELEXIS seeks indemnification under this Article, SELEXIS shall notify COMPANY of any claim as soon as reasonably practicable
after it receives notice of the claim. SELEXIS shall then allow COMPANY to assume direction and control of the defense of the
claim (including without limitation the right to settle the claim solely for monetary consideration), and shall (at COMPANY’s
expense) execute and deliver such documents and other papers and take such further actions as may be reasonably required to defend
against the claim (including without limitation to settle the claim solely for monetary consideration). SELEXIS shall (at COMPANY’s
expense) cooperate as requested by COMPANY in the defense of the claim, provided always that COMPANY may not settle any such claim
or otherwise consent to an adverse judgment or order in any relevant action or other proceeding which includes any admission as
to liability or fault without the prior express written consent of SELEXIS, which consent will not be unreasonably withheld.

 

		7.3.	No Incidental or Consequential Damages. In no event
shall either PARTY be responsible for any incidental or consequential damages, including without limitation, lost profits or opportunities;
provided that the foregoing shall in no event limit a PARTY’s indemnification obligation under Article 7.1 or Article 7.2 hereinabove.

 

		7.4.	Limitation of Liability. Except with respect to its
indemnification obligations under Article 7.1, [*] cumulative liability under this Agreement, whether in contract, in tort, or
otherwise, shall in no event exceed [*]. With respect to its indemnification obligations under Article 7.1, [*] cumulative liability
shall in no event exceed [*].

 

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		8.	Confidentiality

 

		8.1.	Non-disclosure.
                                         During the Term of this Agreement and for [*] thereafter, each PARTY shall keep Confidential
                                         Information of the other PARTY confidential and shall not (i) use the other PARTY’s
                                         Confidential Information for any purpose not expressly permitted under this Agreement,
                                         nor (ii) disclose the other PARTY’s Confidential Information to any Person other
                                         than those of its agents, employees, and consultants (collectively, “Representatives”)
                                         who need to know such Confidential Information for a use or purpose expressly permitted
                                         under this Agreement. Any such Representative who receives Confidential Information pursuant
                                         to this Article 8.1 shall be bound by written obligations of confidentiality and non-use
                                         with respect to the Confidential Information that are no less stringent than the obligations
                                         set forth in this Agreement.

 

		8.2.	Exceptions. The confidentiality obligations set forth
in Article 8.1 shall not apply to Confidential Information that (i) is, or becomes, public information other than as the result
of the violation of this Agreement or other act or omission by the receiving PARTY or its Representatives; (ii) was lawfully known
to the receiving PARTY or its Representatives without restriction on use or disclosure at the time of disclosure hereunder; (iii)
is hereafter lawfully received by the receiving PARTY or its Representatives from a Third Party authorized to make such disclosure
and without restriction on use or disclosure; or (iv) is approved for release by prior written consent from the disclosing Party.

 

		8.3.	Authorized Disclosures. Notwithstanding any provision
of this Agreement to the contrary:

 

8.3.1.       COMPANY
may disclose this Agreement to any potential Contractor or Collaboration Partner in connection with its discussions relating to
a possible arrangement with such Contractor or Collaboration Partner, provided, however, that such potential Contractor
or Collaboration Partner is subject to confidentiality obligations with reasonable scope and duration and no less stringent than
the obligations set forth in this Agreement; and (ii) such Contractor or Collaboration Partner is contractually restricted from
using this Agreement for any purpose other than as reasonably necessary to carry out the discussions with COMPANY.

 

8.3.2.       Each
PARTY may disclose Confidential Information of the other PARTY to the extent such disclosure is required by law, provided,
however, that the receiving PARTY gives the disclosing PARTY reasonable prior written notice to enable the disclosing PARTY
to take appropriate measures to protect its Confidential Information and fully cooperates, subject to commercially reasonable efforts,
with the disclosing PARTY to prevent or limit, to the greatest extent possible, the disclosure of Confidential Information.

 

		8.4.	Use of Name. No right, express or implied, is granted
to either PARTY by this Agreement to use in any manner any trademark or trade name of the other PARTY, including the names “Oncobiologics”
and “SELEXIS” without the prior written consent of the PARTY entitled to use such trademark or trade name.

 

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		9.	Term and Termination

 

		9.1.	Term. This Agreement is effective as of the Effective
Date. Unless earlier terminated pursuant to Articles 9.2, 9.3 or 9.4, this Agreement shall remain in full force and effect until
expiration of the last-to-expire of the SELEXIS Patent Rights (the “Term”).

 

		9.2.	Termination for Default. In addition to any other
remedies which may be available at law or equity, in the event of any material breach of this Agreement (the “Default”)
by a PARTY (the “Defaulting Party”), the PARTY not in default (the “Non-Defaulting Party”)
shall have the right to give the Defaulting Party a written notice thereof (the “Notice of Default”), whereby
such notice must state the nature of the Default in reasonable details and request that the Defaulting Party cure such Default
within [*]. If such Default is not cured within [*] after receipt of a Notice of Default by the Defaulting Party or if such Default
cannot be cured, the Non-Defaulting Party may, at its sole discretion, terminate this Agreement by written notice effective upon
receipt

 

		9.3.	Termination for Bankruptcy. In the event that a PARTY
shall become insolvent or make any arrangement with its creditors or has a receiver or administrator appointed to the whole or
any part of its assets, or if an order shall be made or a resolution passed for its winding up unless such order or resolution
is part of a scheme for its amalgamation or reconstruction (the “Insolvent Party”), the other PARTY shall have
the right, at its sole discretion, to serve immediate notice of termination of this Agreement, effective upon receipt.

 

		9.4.	Termination by COMPANY. COMPANY may terminate this
Agreement for convenience at any time by giving [*] written notice to SELEXIS.

 

		9.5.	Consequences of Expiration or Termination.

 

9.5.1.     Termination
of Licenses. In the event of a termination of this Agreement by COMPANY pursuant to Article 9.2. 9.3 or 9.4 or by SELEXIS pursuant
to Article 9.2 or 9.3, all and any rights and licenses granted under this Agreement shall terminate upon termination of this Agreement,
except for the licenses which have become perpetual pursuant to Article 3.1.3.

 

9.5.2.     SELEXIS
Technology and Confidential Information. Upon termination of this Agreement under Article 9.2 or Article 9.3 where COMPANY
is the Insolvent Party, or Article 9.4, COMPANY shall dispose of all tangible embodiments of the SELEXIS Technology and SELEXIS
Confidential Information, including without limitation the SELEXIS Materials and Cell Lines, and render inaccessible or useless
all electronic embodiments, of SELEXIS Confidential Information provided to COMPANY by SELEXIS hereunder, except that (a) COMPANY
may retain one copy of the SELEXIS Confidential Information delivered hereunder in its secured legal files only for ensuring compliance
with the terms of this Agreement and (b) such obligation shall not apply with respect to SELEXIS Technology and SELEXIS Confidential
Information necessary or useful with respect to the practice of any licenses that have become perpetual pursuant to Article 3.1.3.

 

9.5.3.     COMPANY
Confidential Information. Upon any expiration or termination of this Agreement, SELEXIS shall dispose of all tangible embodiments,
and render inaccessible or useless all electronic

 

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embodiments, of COMPANY
Confidential Information provided to SELEXIS by COMPANY hereunder, except that SELEXIS may retain one copy of the COMPANY’s
Confidential Information delivered hereunder in its secured legal files only for ensuring compliance with the terms of this Agreement.

 

9.5.4.      Accrued
Obligations. Expiration or termination of this Agreement shall not relieve the PARTIES of any obligation or liability accruing
prior to such expiration or termination.

 

		10.	Miscellaneous

 

		10.1.	Assignment. Neither this Agreement nor any interest
hereunder shall be assignable by either PARTY without the prior written consent of the other PARTY; provided, however,
that either PARTY may assign this Agreement and all of its rights and obligations hereunder, without such prior written consent,
to an entity” which acquires all or substantially all of the business or assets of such PARTY (or the business or assets
to which this Agreement pertains) whether by merger, consolidation, reorganization, acquisition, sale or otherwise; and COMPANY
may assign this Agreement and all of its rights and obligations hereunder, without such consent, to an Affiliate if COMPANY remains
liable and responsible for the performance and observance of all of the Affiliate’s duties and obligations hereunder, and
provided that such Affiliate is not a Contract Manufacturing Organization. This Agreement shall be binding upon the successors
and permitted assigns of the PARTIES and the name of a PARTY appearing herein shall be deemed to include the names of such PARTY’s
successors and permitted assigns to the extent necessary to carry out the intent of this Agreement. Any assignment not in accordance
with this Article 10.1 shall be null and void.

 

		10.2.	Compliance with Governmental Obligations. Each PARTY
shall comply, upon reasonable notice from the other PARTY, with all governmental requests directed to either PARTY relating to
this Agreement and provide all information and assistance necessary to comply with the governmental requests.

 

		10.3.	Counterparts. This Agreement may be executed in any
number of counterparts, each of which need not contain the signature of more than one PARTY but all such counterparts taken together
shall constitute one and the same agreement, and may be executed through the use of electronic .PDF’s or facsimiles.

 

		10.4.	Dispute Resolution. The PARTIES agree that in the
event of a dispute between them arising from, concerning or in any way relating to this Agreement, the PARTIES shall undertake
good faith efforts to resolve any such dispute, with the matter being referred at the request of either PARTY to the General Counsel
(or chief legal officer) of each PARTY and, if remaining unresolved after [*], then to the Chief Executive Officers of each PARTY
(or their designees). If after [*] of the matter first being referred to the General Counsel, the PARTIES are unable to resolve
such dispute, either PARTY may, pursuant to Article 10.16, seek any remedy available at law.

 

		10.5.	Entire Agreement.
This Agreement sets forth all of the covenants, promises, agreements, representations, warranties, conditions and understandings
between the PARTIES with respect to the subject matter hereof,

 

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and
constitutes and contains the complete, final, and exclusive understanding and agreement of the PARTIES with respect to the subject
matter hereof, and cancels, supersedes and terminates all prior agreements and/or understanding between the PARTIES with respect
to the subject matter hereof. There are no covenants, promises, agreements, representations, warranties, conditions or understandings,
whether oral or written, between the PARTIES other than as set forth herein. No subsequent alteration, amendment, change or addition
to this Agreement shall be binding upon the PARTIES hereto unless reduced to writing
and signed by the respective authorized officers of the PARTIES. For the avoidance of doubt, and to the extent of any inconsistency
between this Agreement and the Research License Agreement, the terms of this Agreement shall govern and prevail.

 

		10.6.	Force Majeure. Neither PARTY shall be liable to the
other for loss, damages, default or delay due to Force Majeure, provided that the PARTY affected by a case of Force Majeure gives
prompt notice of such case to the other PARTY. The PARTY giving such notice shall thereupon be excused from its obligations hereunder
as it is thereby disabled from performing for so long as it is so disabled, provided, however, that such affected
PARTY commences and continues to take reasonable and diligent actions to cure such cause; and provided further that if any Force
Majeure delays or prevents the performance of the obligations of either PARTY for a continuous period in excess of [*] days, the
PARTY not affected shall then be entitled to terminate this Agreement, which termination shall be effective upon [*] written notice
to the affected PARTY. Such a termination shall be irrevocable, except otherwise provided by the PARTIES and upon termination,
the provisions of Article 9.5 shall apply.

 

		10.7.	Further Actions. Each PARTY agrees to execute, acknowledge
and deliver such further instruments, and to effect all such other acts, as may be necessary or appropriate in order to carry
out the purposes and intent of the Agreement.

 

		10.8.	Independent Contractors. The relationship between
SELEXIS and COMPANY created by this Agreement is one of independent contractors and neither PARTY shall have the power or authority
to bind or obligate the other PARTY except as expressly set forth in this Agreement.

 

		10.9.	Interpretation of Agreement. Articles and other descriptive
headings used in this Agreement are for reference purposes only and shall not constitute a part hereof or affect the meaning or
interpretation of this Agreement. Whenever the context so requires, the use of the singular shall be deemed to include the plural
and vice versa.

 

		10.10.	License Obligations. Nothing in this Agreement imposes
any obligation upon a PARTY to enter into any other license or agreement with the other PARTY.

 

		10.11.	Notices. All notices and other communications required
by this Agreement shall be in writing in the English language and shall be deemed transmitted if delivered personally or by electronic
or facsimile transmission (receipt verified), mailed by registered or certified mail (return receipt requested), postage prepaid,
or sent by express courier service, to the PARTIES at the following addresses (or at such other

 

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addresses that a
PARTY specifies by like notice, provided, however, that notices of a change of address shall be effective only upon
written receipt thereof):

 

	 	If to COMPANY, addressed to:
	 	 	Oncobiologics, Inc.
	 	 	7 Clarke Drive
	 	 	Cranbury, NJ 08512
	 	Attention:	Stephen J. McAndrew, Ph.D.
	 	 	VP, Business Development
	 	With a copy to:	CEO, Pankaj Mohan, Ph.D., MBA
	 	Facsimile:	(609) 619-3980
	 	 	 
	 	If to SELEXIS, addressed to:
	 	 	Selexis S.A.
	 	 	18 Chemin des Aulx
	 	 	1228 Plan-les-Ouates
	 	 	Geneva, Switzerland
	 	 	 
	 	Attention:	Sophie Vock
	 	 	 
	 	With a copy to:	CEO, Igor Fisch, Ph.D.
	 	 	 
	 	Facsimile:	+41 22 308-9361

 

		10.12.	Binding Effect. This Agreement shall be binding upon
and inure solely to the benefit of COMPANY and SELEXIS (and their permitted successors and assigns) and nothing in this Agreement
(express or implied) is intended to or shall confer upon any Third Party any rights, benefits or remedies of any nature whatsoever
under or by reason of this Agreement.

 

		10.13.	Severability. If any term, covenant or condition
of this Agreement or the application thereof to any PARTY or circumstance shall, to any extent, be held to be invalid or unenforceable,
then the remainder of this Agreement, or the application of such term, covenant or condition to PARTIES or circumstances other
than those as to which it is held invalid or unenforceable, shall therefore not be affected and each term, covenant or condition
of this Agreement shall be valid and be enforced to the fullest extent permitted by applicable law.

 

		10.14.	Waiver. The failure on the part of a PARTY to exercise
or enforce any rights conferred upon it hereunder shall not be deemed to be a waiver of any such rights nor operate to bar the
exercise or enforcement thereof at any time or times hereafter.

 

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		10.15.	Survival. Articles 1, 3.1.3, 3.4, 4, 5, 6, 7, 8,
9.5 and 10 shall survive any termination or expiration of this Agreement in accordance with their terms.

 

		10.16.	Governing Law and Jurisdiction. This Agreement shall
be governed by and construed in accordance with the substantive laws of [*], without regard to principles of conflict of laws.
Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of
[*].

 

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IN WITNESS WHEREOF, the PARTIES, having read
the terms of this Agreement and intending to be legally bound, do hereby execute this Agreement:

 

	SELEXIS SA	 	ONCOBIOLOGICS, INC.
	 	 	 	 	 
	Signature:	  /s/ Girod Pierre-Alain	 	Signature:	  /s/ Pankaj Mohan
	 	 	 	 	 
	Place, Date:  April 16, 2013	 	Place, Date:	7 Clarke Drive, Cranbury, NJ 08512
	 	 	 	April 11, 2013
	 	 	 	 
	Name:  GIROD Pierre-Alain	 	Name:  Pankaj Mohan, Ph.D., MBA
	 	 	 
	Title: Chief Scientific Officer	 	Title:  Chief Executive Officer
	 	 	 	 
	Signature:	  /s/ Regine Brokamp	 	Signature:	  /s/ Stephen J. McAndrew
	 	 	 	 	 
	Place, Date:  PLO, April 15th, 2013	 	Place, Date:	7 Clarke Drive, Cranbury, NJ 08512
		 	 	April 11, 2013
	Name:  Regine Brokamp	 	Name:  Stephen J. McAndrew, Ph.D.
	 	 	 
	Title: COO	 	Title:  Vice President, Business Development

 

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EXHIBIT 1

 

[*]

 

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EXHIBIT 2

 

LICENSED PRODUCTS

 

		1.	ONS-3010, Humira Biosimilar

 

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AMENDMENT
NO. 1

TO

COMMERCIAL LICENSE AGREEMENT

 

This Amendment No. 1 to the Commercial License Agreement
(the “Amendment”), effective as of May 21, 2014 (the “Amendment Effective Date”), is by and between Selexis
SA (“Selexis”) and Oncobiologics, Inc. (“Company”).

 

WHEREAS, Company and Selexis entered into and executed
the Commercial License Agreement dated April 11, 2013 (the “Agreement”) relating to Company’s Licensed and/or
Final Product referred to as ONS-3010; and

 

WHEREAS, the parties desire to modify the Agreement
to revise Company’s sublicense rights.

 

NOW, THEREFORE, in consideration of the mutual obligations
and covenants set out herein and for good consideration, the parties agree as follows:

 

1.         Section
2.2.1 of the Agreement is deleted in its entirety and replaced with the following:

 

2.2.1           COMPANY
may, without prior written consent from SELEXIS, grant sublicenses under the Commercial License to a Contractor or to a Collaboration
Partner and only with respect to (i) [*], or (ii) [*]. A Collaboration Partner may further grant a sub-sublicense, only with prior
written consent from SELEXIS where such consent is not to be unreasonably withheld, conditioned or delayed, under the Commercial
License to a Contractor only with respect to [*].

 

2.         Section
2.2.2 of the Agreement is deleted in its entirety and replaced with the following:

 

2.2.2           Any
sublicenses other than those expressly permitted without consent pursuant to Section 2.2.1 shall require the prior written consent
of SELEXIS, which consent will not be unreasonably withheld, conditoned or delayed.

 

3.         Section
2.3 is deleted in its entirety.

 

4.         Section
2.4 is renumbered as Section 2.3, and the last clause of the first sentence (beginning with “...pursuant either to...”)
is deleted and replaced with “pursuant to a sublicense as permitted or consented to under Section 2.2.”

 

5.         In Section
1.30, the reference to the tri-party agreement is removed, so that the sentence begins: “...shall mean the amount collected
by COMPANY, its Affiliates and its Sublicensees, on account of sales of Final Product to Third Parties in the Territory, less the
following deductions:”

 

6.         All capitalized
terms used in the Agreement will have the same meaning where used in this Amendment. In the event of a conflict or inconsistency
between this Amendment and the Agreement, the applicable terms and conditions of this Amendment shall prevail. All terms and

 

     

     

    

 

CONFIDENTIAL

 

conditions of the Agreement that are not amended herein shall remain
unchanged and in full force and effect.

 

7.         This Amendment
may be executed in one or more counterparts, each of which shall be deemed an original but all of which taken together shall constitute
one and the same document. In addition, this document may be executed by facsimile, and the parties agree that facsimile copies
of signatures shall have the same effect as original signatures.

 

In Witness
Whereof, the Parties have executed this Amendment by their proper officers as of the Effective Date.

 

	SELEXIS SA	 	ONCOBIOLOGICS, INC.
	 	 	 
	By:	  /s/ Regine Brokamp	 	By:	  /s/ Stephen J. McAndrew, Ph.D.
	 	 	 	 	 
	Name:	      Regine Brokamp	 	Name:	   Stephen J. McAndrew, Ph.D.
	 	 	 	 	 
	Title:	     COO	 	Title:	   Vice President, Business Development
	 	 	 	 	 
	Date:	     May 23rd, 2014	 	Date:	   May 21, 2014
	 	 	 	 	 
	 	     /s/ Igor Fisch	 	 	 
	 	     Igor Fisch	 	 	 
	 	     CEO	 	 	 
	 	     May 23rd, 2014

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