Document:

Exhibit 10.14

 

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

Commission.
Confidential Treatment Requested Under

17 C.F.R. Section 
230.406

 

 

 

 

 

 

 

LICENSE
AGREEMENT

 

 

between

 

 

PHARMACYCLICS
LLC

 

 

and

 

 

XYNOMIC
PHARMACEUTICALS, INC.

 

 

Dated
as of February 23, 2017

 

 

 

 

 

 

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

TABLE
OF CONTENTS

 

	ARTICLE 1	DEFINITIONS	1
	 	 	 
	ARTICLE 2	DEVELOPMENT, REGULATORY AND COMMERCIALIZATION ACTIVITIES	7
	 	 	 
	2.1	Development.	7
	2.2	Regulatory Matters.	8
	2.3	Records; Reports; Alliance Manager	8
	2.4	Commercialization	9
	2.5	Supply of Licensed Compounds.	9
	2.6	Subcontracting.	 
	2.7	Manufacturing Technology Transfer.	 
	 	 	 
	ARTICLE 3	GRANT OF RIGHTS	10
	 	 	 
	3.1	Grants to Xynomic.	10
	3.2	Grants to Pharmacyclics.	10
	3.3	Sublicenses.	10
	3.5	No Other Rights Granted by Pharmacylics.	 
	 	 	 
	ARTICLE 4	PAYMENTS AND RECORDS	12
	 	 	 
	4.1	Upfront Payment	12
	4.3	Regulatory Milestones	 
	4.5	Royalties	 
	4.6	Royalty Payments and Reports.	 
	4.7	Mode of Payment; Offsets.	 
	4.8	Taxes.	 
	4.9	Interest on Late Payments.	 
	4.10	Financial Records.	 
	4.11	Audit.	 
	4.12	Audit Dispute.	 
	4.13	Confidentiality.	 
	4.14	No Other Compensation.	 
	 	 	 
	ARTICLE 5	INTELLECTUAL PROPERTY	14
	 	 	 
	5.1	Ownership of Intellectual Property.	14
	5.2	Maintenance and Prosecution of Patents.	15
	5.3	Enforcement of Patents.	16
	5.4	Infringement Claims by Third Parties.	17
	5.5	Invalidity or Unenforceability Defenses or Actions.	17
	5.6	Third Party Licenses.	17
	5.7	Product Trademarks.	18
	5.8	Inventor’s Remuneration.	18
	 	 	 
	ARTICLE 6	PHARMACOVIGILANCE AND SAFETY	19
	 	 	 
	6.1	Pharmacovigilance.	19
	 	 	 
	ARTICLE 7	CONFIDENTIALITY AND NON-DISCLOSURE	19
	 	 	 
	7.1	Confidentiality Obligations.	19
	7.2	Permitted Disclosures	19
	7.3	Use of Name	20
	7.4	Public Announcements	21
	7.5	Publications	21
	7.6	Trade Secrets.	22
	7.7	Return of Confidential Information.	22
	7.8	Survival.	22

 

    i

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

	ARTICLE 8	REPRESENTATIONS AND WARRANTIES	22
	 	 	 
	8.1	Mutual Representations and Warranties	22
	8.2	Additional Representations and Warranties of Pharmacyclics	23
	8.3	Additional Representations and Warranties of Xynomic	24
	8.4	DISCLAIMER.	25
	 	 	 
	ARTICLE 9	INDEMNITY	25
	 	 	 
	9.1	Indemnification of Pharmacyclics.	25
	9.2	Indemnification of Xynomic	26
	9.3	Notice of Claim.	26
	9.4	Control of Defense.	26
	9.5	Special, Indirect, and Other Losses	27
	9.6	Insurance.	28
	 	 	 
	ARTICLE 10	TERM AND TERMINATION	28
	 	 	 
	10.1	Term.	28
	10.2	Termination for Material Breach.	28
	10.3	Additional Termination by Pharmacyclics.	29
	10.5	Termination for Bankruptcy, Insolvency or Similar Event.	29
	10.6	Termination in Entirety.	30
	10.7	Termination of Terminated Territory	30
	10.8	Transition Assistance.	31
	10.9	Remedies.	31
	10.10	Accrued Rights; Surviving Obligations.	31
	 	 	 
	ARTICLE 11	MISCELLANEOUS	32
	 	 	 
	11.1	Force Majeure.	32
	11.2	Export Control.	32
	11.3	Assignment.	32
	11.4	Severability.	33
	11.5	Governing Law, Jurisdiction and Service.	33
	11.6	Dispute Resolution.	33
	11.7	Notices.	34
	11.8	Entire Agreement; Amendments.	35
	11.9	Waiver and Non-Exclusion of Remedies.	35
	11.10	English Language.	35
	11.10	No Benefit to Third Parties.	 
	11.11	Further Assurance.	 
	11.12	Relationship of the Parties.	 
	11.13	Counterparts; Facsimile Execution.	 
	11.14	References.	 
	11.15	Construction.	 

 

SCHEDULES

 

	Schedule 1.40	Licensed Compounds
	Schedule 2.6	Development and Supply Agreements
	Schedule 2.8	Manufacturing Technology Transfer
	Schedule 7.4	Initial Press Release
	Schedule 8.2.7	Pharmacyclics Patents
	Schedule 11.6.2	ADR Procedures

 

    ii

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

LICENSE
AGREEMENT

 

This
License Agreement (the “Agreement”) is made and entered into effective as of February 23, 2017 (the “Effective
Date”) by and between Pharmacyclics LLC, a Delaware limited liability company wholly owned by AbbVie Inc. (“Pharmacyclics”),
and Xynomic Pharmaceuticals, Inc., a Wyoming corporation (“Xynomic”). Pharmacyclics and Xynomic are sometimes
referred to herein individually as a “Party” and collectively as the “Parties.”

 

Recitals

 

WHEREAS,
Pharmacyclics controls certain intellectual property rights with respect to the Licensed Compounds (as defined herein) and Licensed
Products (as defined herein) in the Territory (as defined herein); and

 

WHEREAS,
Pharmacyclics wishes to grant to Xynomic, and Xynomic wishes to take, an exclusive license under such intellectual property rights
to develop and commercialize Licensed Products in the Territory, in each case in accordance with the terms and conditions set
forth below.

 

NOW,
THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby
agree as follows:

 

ARTICLE
1

DEFINITIONS

 

Unless
otherwise specifically provided herein, the following terms shall have the following meanings:

 

1.1. “Alliance
Manager” has the meaning set forth in Section 2.3.3.

 

1.2. “Accounting
Standards” with respect to a Party means that such Party shall maintain records and books of accounts in accordance
with United States Generally Accepted Accounting Principles.

 

1.3. “ADR”
has the meaning set forth in Section 11.6.1.

 

1.4. “Affiliate”
means, with respect to a Party, any Person that, directly or indirectly, through one or more intermediaries, controls, is controlled
by or is under common control with such Party. For purposes of this definition, “control” and, with correlative meanings,
the terms “controlled by” and “under common control with” means (a) the possession, directly or indirectly,
of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by
contract relating to voting rights or corporate governance, or otherwise; or (b) the ownership, directly or indirectly, of
more than fifty percent (50%) of the voting securities or other ownership interest of a business entity (or, with respect to a
limited partnership or other similar entity, its general partner or controlling entity).

 

1.5. “Agreement”
has the meaning set forth in the preamble hereto.

 

1.6. “Applicable
Law” means federal, state, local, national and supra-national laws, statutes, rules, and regulations, including any
rules, regulations, guidelines, or other requirements of the Regulatory Authorities, major national securities exchanges or major
securities listing organizations, that may be in effect from time to time during the Term and applicable to a particular activity
and/or country or other jurisdiction hereunder.

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

1.7. “Audit
Arbitrator” has the meaning set forth in Section 4.11.

 

1.8. “Breaching
Party” has the meaning set forth in Section 10.2.1.

 

1.9. “Business
Day” means a day other than a Saturday or Sunday on which banking institutions in New York, New York are open for business.

 

1.10. “Calendar
Quarter” means each successive period of three (3) calendar months commencing on January 1, April 1, July 1 and October
1.

 

1.11. “Calendar
Year” means each successive period of twelve (12) calendar months commencing on January 1 and ending on December 31.

 

1.12. “Centralized
Approval Procedure” means the procedure through which an MAA filed with the EMA results in a single marketing authorization
valid throughout the European Union.

 

1.13. “CFDA”
means China Food and Drug Administration and any successor agency or authority having substantially the same function.

 

1.14. “China”
means the People’s Republic of China, excluding, for the purpose of this Agreement only, Hong Kong, Macao and Taiwan.

 

1.15. “Commercialization”
means any and all activities directed to the preparation for sale of, offering for sale of, or sale of a Licensed Compound or
Licensed Product, including activities related to marketing, promoting, distributing, and importing such Licensed Compound or
Licensed Product, and interacting with Regulatory Authorities regarding any of the foregoing. For clarity, Commercialization does
not include Manufacturing. When used as a verb, “to Commercialize” and “Commercializing”
means to engage in Commercialization, and “Commercialized” has a corresponding meaning.

 

1.16. “Commercially
Reasonable Efforts” means [****].

 

1.17. “Confidential
Information” means any proprietary or non-public technical, business, or other information or data provided orally,
visually, in writing or other form by or on behalf of one Party to the other Party in connection with this Agreement, whether
prior to, on, or after the Effective Date, including information relating to the terms of this Agreement, a Licensed Compound
or any Licensed Product (including the Regulatory Documentation ), any Exploitation of a Licensed Compound or any Licensed Product,
any Know-How with respect thereto developed by or on behalf of the disclosing Party or its Affiliates (including Pharmacyclics
Know-How and Xynomic Know-How, as applicable), or the scientific, regulatory or business affairs or other activities of the disclosing
Party. Notwithstanding anything contrary contained herein and for purposes of the confidentiality and non-use obligations under
this Agreement, the Confidential Information relating to a Licensed Compound or any Licensed Product developed by or on behalf
of Pharmacyclics prior to the Effective Date shall also be deemed the Confidential Information of Xynomic, which may not be disclosed
by Pharmacyclics without Xynomic’s prior written consent. For clarity, the Confidential Information relating to a Licensed
Compound or any Licensed Product developed by or on behalf of Pharmacyclics prior to the Effective Date shall remain to be the
Confidential Information of Pharmacyclics, which may not be disclosed by Xynomic without Pharmacyclics’ s prior written
consent.

 

    2

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

1.18. “Control”
means, with respect to any item of Know-How, Regulatory Documentation, material, Patent, or other property right existing on or
after the Effective Date and during the Term, possession of the right, whether directly or indirectly, and whether by ownership,
license or otherwise (other than by operation of the license and other grants in Section 3.1 or Section 3.2), to
grant a license, sublicense or other right (including the right to reference Regulatory Documentation) to or under such Know-How,
Regulatory Documentation, material, Patent, or other property right as provided for herein without violating the terms of any
agreement or other arrangement with any Third Party. Notwithstanding the foregoing, no Patents or Know-How will be “Controlled”
by Pharmacyclics hereunder if such Patents or Know-How are owned or in-licensed by a Third Party that becomes an Affiliate of
Pharmacyclics after the Effective Date as a result of Pharmacyclics (a) acquiring such Third Party or a portion of the business
of such Third Party or (b) being acquired by such Third Party (in each case, whether by merger, stock purchase or purchase of
assets).

 

1.19.
“Default Notice” has the meaning set forth in Section 10.2.1.

 

1.20. “Development”
means all activities related to research, pre-clinical and other non-clinical testing, test method development and stability testing,
toxicology, formulation, process development, manufacturing scale-up, qualification and validation, quality assurance/quality
control, clinical studies, statistical analysis and report writing, the preparation and submission of Drug Approval Applications,
regulatory affairs with respect to the foregoing and all other activities necessary or reasonably useful or otherwise requested
or required by a Regulatory Authority as a condition or in support of obtaining or maintaining a Regulatory Approval. When used
as a verb, “Develop” means to engage in Development.

 

1.21. “Dispute”
has the meaning set forth in Section 11.6.

 

1.22. “Dollars”
or “$” means United States Dollars.

 

1.23. “Drug
Approval Application” means a New Drug Application as defined in the FFDCA, or any corresponding foreign application
in the Territory, including, with respect to the European Union, a Marketing Authorization Application (an “MAA”)
filed with the EMA pursuant to the Centralized Approval Procedure or with the applicable Regulatory Authority of a country in
Europe with respect to the mutual recognition or any other national approval procedure.

 

1.24. “Effective
Date” has the meaning set forth in the preamble hereto.

 

1.25. “EMA”
means the European Medicines Agency and any successor agency or authority having substantially the same function.

 

1.26. “European
Union” means the economic, scientific, and political organization of member states of the European Union as it is constituted
as of the Effective Date.

 

1.27. “Exploit”
or “Exploitation” means to make, have made, import, use, sell, or offer for sale, including to research, Develop,
Commercialize, register, Manufacture, have Manufactured, hold, or keep (whether for disposal or otherwise), have used, export,
transport, distribute, promote, market, or have sold or otherwise dispose of.

 

1.28.
“FDA” means the United States Food and Drug Administration and any successor agency or authority having
substantially the same function.

 

1.29. “FFDCA”
means the United States Federal Food, Drug, and Cosmetic Act, 21 U.S.C. §301 et seq., as amended from time to time,
together with any rules, regulations and requirements promulgated thereunder (including all additions, supplements, extensions,
and modifications thereto).

 

1.30. “Field”
means all human and non-human diagnostic, prophylactic, and therapeutic uses.

 

    3

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

1.31. “First
Commercial Sale” means, with respect to a Licensed Product and a country, the first sale to a Third Party for monetary
value for use or consumption by the end user of such Licensed Product in such country after Regulatory Approval for such Licensed
Product has been obtained in such country. Sales prior to receipt of Regulatory Approval for such Licensed Product, such as or
including so-called “treatment IND sales,” “named patient sales,” and “compassionate use sales”
shall not be construed as a First Commercial Sale.

 

1.32. “Good
Manufacturing Practice” or “GMP” means the current good manufacturing practices applicable from time
to time to the Manufacturing of a Licensed Compound or Licensed Product or any intermediate thereof pursuant to Applicable Law.

 

1.33. “IND”
means an application filed with a Regulatory Authority for authorization to commence human clinical studies, including (a) an
Investigational New Drug Application as defined in the FFDCA or any successor application or procedure filed with the FDA, (b)
any clinical trial application or other equivalent of a United States IND in other countries or regulatory jurisdictions, and
(c) all supplements, amendments, variations, extensions and renewals thereof that may be filed with respect to the foregoing.

 

1.34. “Initiation”
or “Initiate” means, with respect to a clinical study, the first subject enrolled in such clinical study.

 

1.35. “Indemnification
Claim Notice” has the meaning set forth in Section 9.3.

 

1.36. “Indemnified
Party” has the meaning set forth in Section 9.3.

 

1.37. “Know-How”
means all technical, scientific, and other know-how and information, trade secrets, knowledge, technology, means, methods, processes,
practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical assistance, designs, drawings,
assembly procedures, computer programs, apparatuses, specifications, data, results and other materials, including: biological,
chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing
and quality control data and information and materials, including study designs and protocols; assays; and biological methodology;
in each case (whether or not confidential, proprietary, patented or patentable) in written, electronic or any other form now known
or hereafter developed.

 

1.38. “Knowledge”
means, with respect to Pharmacyclics, the actual knowledge of any fact, circumstance and information of [****].

 

1.39. “LIBOR”
means the London Interbank Offered Rate for deposits in United States Dollars having a maturity of one month published by the
British Bankers’ Association, as adjusted from time to time on the first London business day of each month.

 

1.40. “Licensed
Compounds” means (a) the compound known as PCI-24781 (also known as abexinostat), [****].

 

1.41. “Licensed
Product” means any pharmaceutical product containing a Licensed Compound, alone or in combination with one or more active
ingredients, in any and all forms, presentations, delivery systems, dosages, and formulations.

 

1.42. “Losses”
has the meaning set forth in Section 9.1.

 

1.43. “MAA”
has the meaning set forth in the definition of “Drug Approval Application.”

 

1.44. “Major
Market” means [****].

 

    4

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

1.45. “Manufacture”
and “Manufacturing” means all activities related to the production, manufacture, processing, purifying, formulating,
filling, finishing, packaging, labeling, shipping, and holding of a Licensed Compound, any Licensed Product, or any intermediate
thereof, including process development, process qualification and validation, scale-up, pre-clinical, clinical and commercial
manufacture and analytic development, product characterization, stability testing, quality assurance, and quality control. For
clarity, Manufacturing does not include Commercialization.

 

1.46. “Net
Sales” means, [****]

 

1.47.
“Neutral” has the meaning set forth in Schedule 11.6.2.

 

1.48. “Non-Breaching
Party” has the meaning set forth in Section 10.2.1.

 

1.49. “Party”
and “Parties” has the meaning set forth in the preamble hereto.

 

1.50. “Patents”
means (a) all national, regional and international patents and patent applications, including provisional patent applications;
(b) all patent applications filed either from such patents, patent applications or provisional applications or from an application
claiming priority from either of these, including divisionals, continuations, continuations-in-part, provisionals, converted provisionals
and continued prosecution applications; (c) any and all patents that have issued or in the future issue from the foregoing
patent applications ((a) and (b)), including utility models, petty patents and design patents and certificates of invention; (d) any
and all extensions or restorations by existing or future extension or restoration mechanisms, including revalidations, reissues,
re-examinations and extensions (including any patent term adjustments, patent term extensions, supplementary protection certificates
and the like) of the foregoing patents or patent applications ((a), (b), and (c)); and (e) any similar rights, including
so-called pipeline protection or any importation, revalidation, confirmation or introduction patent or registration patent or
patent of additions to any of such foregoing patent applications and patents.

 

1.51.
“Person” means an individual, sole proprietorship, partnership, limited partnership, limited liability
partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint
venture or other similar entity or organization, including a government or political subdivision, department or agency of a government.

 

1.52. “Pharmacyclics”
has the meaning set forth in the preamble hereto.

 

1.53. “Pharmacyclics
Patents” means the Patents that are Controlled by Pharmacyclics (or, with respect to Patent applications, that would
grant from such patent applications) as of the Effective Date is that are necessary or useful for the Development, Manufacture,
or Commercialization of a Licensed Product, and all corresponding worldwide family members.

 

1.54.
“Pharmacyclics Know-How” means all Know-How Controlled by Pharmacyclics, as of the Effective Date that
is necessary for the Development, Manufacture, or Commercialization of a Licensed Product, but excluding any Know-How to the extent
covered or claimed by published Pharmacyclics Patents. [****]

 

1.55. “Pivotal
Clinical Trial” means a human clinical trial of a Licensed Product conducted in any country in the Territory (whether
a standalone trial or a stage of a “Phase 2/3” clinical trial described in the protocol as the Phase 3 portion)  where
(i) the results of such clinical trial are intended (if successful) to be used to establish both safety and efficacy of a Licensed
Product in patients which are the subject of such trial and serve as the basis for Regulatory Approval of a Licensed Product,
or (ii) that would otherwise satisfy requirements of 21 C.F.R. 312.21(c), or its foreign equivalent.  A clinical
trial not designed to establish statistically significant evidence of efficacy and safety of a Licensed Product can qualify as
a Pivotal Clinical Trial, if a decision is made to initiate a clinical trial following request of a Special Protocol Assessment
and receipt of a Special Protocol Assessment letter.

 

    5

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

1.56.
“Product Infringement” has the meaning set forth in Section 5.3.1.

 

1.57. “Product
Trademarks” means the Trademarks to be used by Xynomic or its Affiliates or its or their respective Sublicensees for
the Commercialization of Licensed Products in the Territory and any registrations thereof or any pending applications relating
thereto in the Territory (excluding, in any event, any trademarks, service marks, names or logos that include any corporate name
or logo of the Parties or their Affiliates).

 

1.58. “Regulatory
Approval” means, with respect to a country or other jurisdiction in the Territory, any and all approvals (including
approvals of Drug Approval Applications), licenses, registrations, or authorizations of any Regulatory Authority necessary to
commercially distribute, sell, or market a Licensed Compound or Licensed Product in such country or other jurisdiction, including,
where applicable, (a) pricing or reimbursement approval in such country or other jurisdiction, (b) pre- and post-approval
marketing authorizations (including any prerequisite Manufacturing approval or authorization related thereto), and (c) labeling
approval.

 

1.59. “Regulatory
Authority” means any applicable supra-national, federal, national, regional, state, provincial, or local governmental
or regulatory agencies, departments, bureaus, commissions, councils, or other government entities (e.g., the FDA, EMA, CFDA and
PMDA) regulating or otherwise exercising authority with respect to activities contemplated in this Agreement, including the Exploitation
of a Licensed Compound or Licensed Product in the Territory.

 

1.60. “Regulatory
Documentation” means all (a) applications (including all INDs and Drug Approval Applications), registrations, licenses,
authorizations, and approvals (including Regulatory Approvals); (b) correspondence and reports submitted to or received from
Regulatory Authorities (including minutes and official contact reports relating to any communications with any Regulatory Authority)
and all supporting documents with respect thereto, including all regulatory drug lists, advertising and promotion documents, adverse
event files, and complaint files; and (c) clinical, non-clinical and other data, results contained or relied upon in any
of the foregoing, including raw data and other documents from which the foregoing is derived, in each case ((a), (b), and (c))
relating solely to a Licensed Compound or Licensed Product.

 

1.61. “Royalty
Term” means, with respect to each Licensed Product and each country or other jurisdiction in the Territory, the period
beginning on the date of the First Commercial Sale of such Licensed Product in such country or other jurisdiction, and ending
on the expiration of the last-to-expire Pharmacyclics Patent that includes a Valid Claim that covers such Licensed Product or
the Exploitation thereof in such country or other jurisdiction

 

1.62.
“Senior Officer” means, [****].

 

1.63. “Sublicensee”
means a Person, other than an Affiliate, that is granted a sublicense by Xynomic under the grants in Section 3.1 as
provided in Section 3.3.

 

1.64. “Term”
has the meaning set forth in Section 10.1.1.

 

1.65. “Terminated
Territory” means each country or other jurisdiction or Major Market with respect to which this Agreement is terminated
by Pharmacyclics pursuant to Section 10.2.2, or, if this Agreement is terminated in its entirety, the entire Territory.

 

    6

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

1.66. “Territory”
means the entire world.

 

1.67. “Third
Party” means any Person other than Pharmacyclics, Xynomic and their respective Affiliates.

 

1.68. “Third
Party Claims” has the meaning set forth in Section 9.1.

 

1.69. “Trademark”
means any word, name, symbol, color, designation or device or any combination thereof that functions as a source identifier, including
any trademark, trade dress, brand mark, service mark, trade name, brand name, logo or business symbol, whether or not registered.

 

1.70. “United
States” or “U.S.” means the United States of America and its territories and possessions (including
the District of Columbia and Puerto Rico).

 

1.71. “Valid
Claim” means a claim of any issued and unexpired Patent whose validity, enforceability, or patentability has not been
affected by any of the following: (a) irretrievable lapse or abandonment, revocation, dedication to the public, or disclaimer;
or (b) a holding, finding, or decision of invalidity, unenforceability, or non-patentability by a court, governmental agency,
national or regional patent office, or other appropriate body that has competent jurisdiction, such holding, finding, or decision
being final and unappealable or unappealed within the time allowed for appeal.

 

1.72. “Xynomic”
has the meaning set forth in the preamble hereto.

 

1.73. “Xynomic
Know-How” means all Know-How Controlled by Xynomic or any of its Affiliates or Sublicensees as of the Effective Date
or during the Term that is necessary or useful for the Development, Manufacture, or Commercialization of a Licensed Product, but
excluding any Know-How to the extent covered or claimed by published Xynomic Patents.

 

1.74. “Xynomic
Patents” means all of the Patents Controlled by Xynomic or any of its Affiliates as of the Effective Date or at any
time during the Term that are necessary (or, with respect to patent applications, would be necessary if such patent applications
were to issue as patents) for the Development, Manufacture, or Commercialization of a Licensed Product.

 

1.75. “Xynomic
Prosecuted Infringements” has the meaning set forth in Section 5.3.1.

 

ARTICLE
2

DEVELOPMENT, REGULATORY AND COMMERCIALIZATION ACTIVITIES

 

2.1. Development.

 

2.1.1. Ongoing
Development. The Parties acknowledge and agree that additional Development will be required to obtain Regulatory Approvals
for the Licensed Products in the Territory. After the Effective Date, Xynomic shall be solely responsible for, and has full decisional
power with respect to, Development of the Licensed Products in the Territory, subject to Pharmacyclics’ obligation to wind
up and close all clinical trials which were sponsored by Pharmacyclics prior to the Effective Date.

 

2.1.2. Diligence.
 Xynomic shall use Commercially Reasonable Efforts to Develop and obtain and maintain Regulatory Approvals for [****] Licensed
Product for use in the Major Markets.

 

2.1.3. Development
Costs. Xynomic shall be solely responsible for all of its costs and expenses in connection with the Development of, and obtaining
and maintaining Regulatory Approvals for, the Licensed Products. As of the Effective Date, there are no patients enrolled in any
clinical trial sponsored by Pharmacyclics, and Pharmacyclics shall bear the costs associated with winding up and closing any trials
which were sponsored by Pharmacyclics prior to the Effective Date.

 

    7

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

2.1.4. Applicable
Law. Xynomic shall, and shall cause its Affiliates to, comply with all Applicable Law with respect to the Development of Licensed
Compounds and Licensed Products.

 

2.2. Regulatory
Matters.

 

2.2.1. Regulatory
Activities.

 

a) As
between the Parties, Xynomic shall have the sole responsibility and discretion for preparing, obtaining, and maintaining Drug
Approval Applications (including the setting of the overall regulatory strategy therefor), other Regulatory Approvals and other
submissions, and for conducting communications with the Regulatory Authorities, for Licensed Compounds or Licensed Products in
the Territory (which shall include filings of or with respect to INDs and other filings or communications with the Regulatory
Authorities). All Regulatory Approvals relating to the Licensed Compounds or Licensed Products with respect to the Territory shall
be owned by, and shall be the sole property and held in the name of, Xynomic or its designated Affiliate. Pharmacyclics hereby
assigns to Xynomic all of Pharmacyclics’ (or its Affiliates’) right, title, and interest in and to all Regulatory
Documentation owned by Pharmacyclics (or its Affiliates) and held in Pharmacyclics’ name (or its Affiliates) as of the Effective
Date or generated in the “winding up” activities after the Effective Date and shall deliver all Regulatory Documentation
as well as embodiments of all Regulatory Documentation to Xynomic within sixty (60) days after the Effective Date.

 

b) Xynomic
shall notify the Pharmacyclics Alliance Manager promptly (but in no event later than forty-eight (48) hours) following its determination
that any event, incident, or circumstance has occurred that may result in the need for a recall, market suspension, or market
withdrawal of a Licensed Compound or Licensed Product in the Territory, and shall include in such notice the reasoning behind
such determination, and any supporting facts. Xynomic (or its Sublicensee) shall have the right to make the final determination
whether to voluntarily implement any such recall, market suspension, or market withdrawal in the Territory; provided that
prior to any implementation of such a recall, market suspension, or market withdrawal, Xynomic shall consult with Pharmacyclics
and shall consider Pharmacyclics’ comments in good faith. If a recall, market suspension, or market withdrawal is mandated
by a Regulatory Authority in the Territory, Xynomic (or its Sublicensee) shall initiate such a recall, market suspension, or market
withdrawal in compliance with Applicable Law. For all recalls, market suspensions, or market withdrawals undertaken pursuant to
this Section 2.2.1.b), Xynomic (or its Sublicensee) shall be solely responsible for the execution and all costs thereof.

 

2.3. Records;
Reports; Alliance Manager.

 

2.3.1. Records.
Xynomic shall maintain records in sufficient detail and in good scientific manner appropriate for Patent and regulatory purposes,
and in compliance with Applicable Law, which shall be materially complete and accurate and shall properly reflect all work done
and results achieved in the performance of its Development activities. Such records shall be retained by Xynomic for [****] after
the termination of this Agreement, or for such longer period as may be required by Applicable Law.

 

2.3.2. Development
Reports. Upon the first anniversary of the Effective Date and thereafter at least once per Calendar Year until Regulatory
Approval is obtained in all of the Major Markets with respect to each Licensed Product, Xynomic shall provide the Pharmacyclics
Alliance Manager with a detailed report describing the Development activities it has performed, or caused to be performed, since
the preceding report, its Development activities in process, and the future activities it expects to initiate during the then-current
Calendar Year together with a then-current Development budget broken out by quarter.

 

    8

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

2.3.3. Alliance
Manager. Within thirty (30) days following the Effective Date, each Party will appoint (and notify the other Party of the
identity of) an alliance manager (each an “Alliance Manager”). Each Party may replace its Alliance Manager
at any time by written notice to the other Party. The Alliance Managers will serve as the primary contact point between the Parties
for the purpose of providing each Party with information on the progress of the Development and Commercialization of each Licensed
Compound and Licensed Product (including, with respect to the Pharmacyclics Alliance Manager, the recipient of the various reports
required to be delivered by Xynomic pursuant to this ARTICLE 2) and facilitating the flow of information and otherwise
promoting communication between the Parties.

 

2.4. Commercialization.

 

2.4.1. In
General. Xynomic (itself or through its Affiliates or Sublicensees) shall be solely responsible and have the sole decision
making power for Commercialization of the Licensed Products throughout the Territory at Xynomic’s own cost and expense.

 

2.4.2. Diligence.
Xynomic shall use Commercially Reasonable Efforts to Commercialize [****] Licensed Product throughout the Major Markets and
to maximize Net Sales in each of the Major Markets. Commercially Reasonable Efforts to Commercialize any Licensed Product in any
Major Markets shall begin promptly after Regulatory Approval in such country.

 

2.4.3. Statements
and Compliance with Applicable Law. Xynomic shall, and shall cause its Affiliates to, comply with all Applicable Law with
respect to the Commercialization and Manufacturing of Licensed Compounds and Licensed Products. Xynomic shall avoid, and cause
its Affiliates and employees, representatives, agents and Sublicensees to avoid, taking, or failing to take, any actions that
Xynomic knows or reasonably should know would jeopardize the goodwill or reputation of Pharmacyclics or the Licensed Products
or any Trademark associated therewith. Without limitation to the foregoing, Xynomic shall in all material respects conform its
practices and procedures relating to the Commercialization of the Licensed Products and educating the medical community in the
Territory with respect to the Licensed Products to any applicable industry association regulations, policies, and guidelines,
as the same may be amended from time to time, and Applicable Law.

 

2.4.4. Booking
of Sales; Distribution. Xynomic shall invoice and book sales, establish all terms of sale (including pricing and discounts)
and warehousing, and distribute the Licensed Products in the Territory and perform or cause to be performed all related services.
Xynomic shall handle all returns, recalls, or withdrawals, order processing, invoicing, collection, distribution, and inventory
management with respect to the Licensed Products in the Territory.

 

2.5. Supply
of Licensed Compounds.

 

2.5.1. Assignment
of Existing Inventory. [****]

 

2.5.2. Supply
of Licensed Compounds. Xynomic shall have the sole responsibility for, at its expense, Manufacturing (or having Manufactured)
and supplying Licensed Compounds and Licensed Products for Development and Commercialization purposes in the Territory.

 

2.6. Development
and Supply Agreements. As promptly as reasonably practicable after the Effective Date, Pharmacyclics shall, and shall cause
its Affiliates to, assign and transfer all right, title and interest in the agreements set forth on Schedule 2.6 unless
any such contract expressly prohibits such assignment, in which case Pharmacyclics shall cooperate with Xynomic in reasonable
respects to secure the consent of the applicable Third Party to such assignment.

 

    9

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

2.7. Subcontracting.
Xynomic may subcontract with a Third Party to perform any or all of its obligations hereunder, provided that (a) no
such permitted subcontracting shall relieve Xynomic of any liability or obligation hereunder except to the extent satisfactorily
performed by such subcontractor and (b) the agreement pursuant to which Xynomic engages any Third Party subcontractor must
(i) be consistent in all material respects with this Agreement, (ii) contain terms obligating such subcontractor to
comply with the confidentiality, intellectual property, and all other relevant provisions of this Agreement, and (iii) contain
terms obligating such subcontractor to permit Pharmacyclics rights of inspection, access, and audit substantially similar to those
provided to Pharmacyclics in this Agreement.

 

2.8. Manufacturing
Technology Transfer. Pharmacyclics shall disclose and make available and transfer to Xynomic the existing Pharmacyclics Know-How
necessary for the Manufacture of the Licensed Compounds, in accordance with and to the extent set forth on Schedule 2.8.
Xynomic will use documents and files relating to the Pharmacyclics Patents and the Pharmacyclics Know-How only for purposes of
exercising its rights and licenses with respect to Licensed Compounds and Licensed Products in accordance with the terms and conditions
of this Agreement and Applicable Law and for no other purpose. For the avoidance of doubt, Xynomic shall, at its sole discretion,
choose whether to use any existing or new suppliers of API and finished dosage formulations in the future.

 

ARTICLE
3 GRANT OF RIGHTS

 

3.1. Grants
to Xynomic. Subject to Section 3.3, Section 3.4, and the other terms and conditions of this Agreement, Pharmacyclics
hereby grants to Xynomic:

 

3.1.1. an
exclusive (even with regard to Pharmacyclics and its Affiliates) license (or sublicense), with the right to grant sublicenses
in accordance with Section 3.3, under the Pharmacyclics Patents to Exploit the Licensed Compounds and Licensed Products
in the Field in the Territory; and

 

3.1.2. an
exclusive license (or sublicense), with the right to grant sublicenses in accordance with Section 3.3, under the Pharmacyclics
Know-How to Exploit the Licensed Compounds and Licensed Products in the Field in the Territory.

 

3.2. Grants
to Pharmacyclics. Xynomic hereby grants to Pharmacyclics a non-exclusive, royalty-free license, without the right to grant
sublicenses, under the Xynomic Patents, the Xynomic Know-How to Manufacture (or have Manufactured) Licensed Compounds and Licensed
Products in the Territory solely for purposes of performing its obligations as set forth in, and subject to, this Agreement.

 

3.3. Sublicenses.

 

3.3.1. Right
to Grant Sublicenses. Xynomic shall have the right to grant sublicenses, under the licenses granted in Section 3.1
to its Affiliates and other Third Parties; provided that any such sublicenses granted to other Third Parties (and not Affiliates)
shall be subject to Pharmacyclics’ prior written consent, which consent shall not be unreasonably withheld, conditioned
or delayed. Xynomic shall cause each Sublicensee to comply with the applicable terms and conditions of this Agreement. Xynomic
hereby guarantees the performance of its Affiliates and permitted Sublicensees that are sublicensed as permitted herein, and the
grant of any such sublicense shall not relieve Xynomic of its obligations under this Agreement, except to the extent they are
satisfactorily performed by such Sublicensee. Any such permitted sublicenses shall be consistent with and expressly made subject
to the terms and conditions of this Agreement. A copy of any sublicense agreement executed by Xynomic shall be provided to Pharmacyclics
within [****] days after its execution; provided that the financial terms of any such sublicense agreement may be redacted
to the extent not pertinent to an understanding of a Party’s obligations or benefits under this Agreement.

 

    10

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

3.3.2. Termination
of Sublicenses. If this Agreement is terminated in respect of any Major Market, the Parties agree that each Sublicensee’s
license shall survive if the relevant Sublicensee agrees in writing to be bound by all of the terms of this Agreement in respect
of such Major Market. Additionally, any Sublicensee with a surviving license under the Pharmacyclics Patents and Pharmacyclics
Know-How agrees that upon Pharmacyclics’ request, Pharmacyclics and such Sublicensee shall formalize such surviving sublicense
by executing a direct license under the Pharmacyclics Patents and Pharmacyclics Know-How, which direct license shall be of the
same scope and shall contain substantially identical terms and conditions (including the same financial and other terms) as those
contained in this Agreement. For clarity, it is understood and agreed that (i) Xynomic will remain responsible for any and all
payments and other obligations accruing to Pharmacyclics under this Agreement prior to termination of this Agreement and that
each Sublicensee shall only be responsible for any payments that become due as a result of such Sublicensee’s activities
after the effective date of any such termination; (ii) that Sublicensees will not be responsible for any milestone payments already
paid by Xynomic prior to the effective date of any such termination; and (iii) notwithstanding anything to the contrary in this
Section 3.3.2, only those products existing as of the effective date of the termination of this Agreement and which are
the subject of such Sublicensee’s license from Xynomic will be considered “Licensed Products’’ for purposes
of such Sublicensee’s surviving license.

 

3.4. No
Other Rights Granted by Pharmacyclics. Except as expressly provided herein and without limiting the foregoing, Pharmacyclics
grants no other right or license, including any rights or licenses to the Pharmacyclics Patents (or any corresponding worldwide
family member), the Pharmacyclics Know-How, the Regulatory Documentation, any corporate names, Trademarks or logos owned or used
by Pharmacyclics or any of its Affiliates, or any other Patent or intellectual property rights not otherwise expressly granted
herein.

 

3.5. Assignment
Agreement. Xynomic acknowledges that (a) certain of the Pharmacyclics Patents and Pharmacyclics Know-How were assigned to
Pharmacyclics, and Controlled by Pharmacyclics, pursuant to that certain Assignment Agreement by and between Pharmacyclics, Inc.
and Applera Corporation (n/k/a Celera Group) dated April 7, 2006 (as amended, the “Celera Assignment Agreement”)
and (b) the Celera Assignment Agreement contains certain requirements of Pharmacyclics or a licensee of the Celera Intellectual
Property (as defined therein), including requirements to (i) Develop, Manufacture and Commercialize such Celera Intellectual Property
and (ii) prosecute, maintain and enforce intellectual property rights in such Celera Intellectual Property. Xynomic further agrees
and acknowledges that (A) it has reviewed and understands the obligations contained in the Celera Assignment Agreement with respect
to the Celera Intellectual Property covering the Licensed Products, (B) to the extent that any Pharmacyclics Patents or Pharmacyclics
Know How consists of Celera Intellectual Property, Xynomic shall meet all obligations of Pharmacyclics set forth in the Celera
Assignment Agreement relating to the (1) Development, Manufacture and Commercialization of the Licensed Products (including reporting
obligations) and (2) prosecution, maintenance and enforcement of the Celera Intellectual Property covering the Licensed Products.
[****].

 

    11

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

ARTICLE
4

PAYMENTS AND RECORDS

 

4.1. Upfront
Payment. In partial consideration of the rights granted by Pharmacyclics to Xynomic hereunder and subject to the terms and
conditions set forth in this Agreement, Xynomic shall pay Pharmacyclics an upfront payment of an aggregate of Three Million Five
Hundred Thousand US Dollars ($3,500,000) in two installments: (i) first, an amount equal to Two Million US Dollars (US$2,000,000)
within ten (10) Business Days of the Effective Date, and (ii) second, an amount equal to One Million Five Hundred Thousand US
Dollars (US$1,500,000) within sixty (60) Business Days of the Effective Date. Such payments shall be in US Dollars, non-refundable
and noncreditable against any other payments due hereunder.

 

4.2. Regulatory
Approval Milestone. In further consideration of the rights granted by Pharmacyclics to Xynomic hereunder and subject to the
terms and conditions set forth in this Agreement, Xynomic shall pay to Pharmacyclics one-time, non-refundable, non-creditable
milestone payments within thirty (30) days after the following events:

 

	Regulatory Milestone	 	Payment Due	 
	 	 	 	 	 
	Initiation of the First Pivotal Clinical Trial (conducted in any location) which is (a) of a Licensed Product, and (b) to be used as the basis for Regulatory Approval in a Major Market	 	US$	3,500,000	 
	 	 	 	 	 
	Regulatory Approval for the first (1st) indication for a Licensed Product in China or in the United States	 	US$	6,500,000	 
	 	 	 	 	 
	Regulatory Approval for the second (2nd) indication for a Licensed Product in China or in the United States	 	US$	4,000,000	 

 

4.3. Royalties.

 

4.3.1.
Royalties Rates. In further consideration of the rights granted by Pharmacyclics to Xynomic hereunder, commencing upon the
First Commercial Sale of a Licensed Product in the Territory, Xynomic shall pay to Pharmacyclics royalties [****] of Licensed
Products in the Territory during each Calendar Year.

 

4.3.2. Royalty
Term. Xynomic shall have no obligation to pay any royalty with respect to Net Sales of any Licensed Product in any country
or other jurisdiction after the Royalty Term for such Licensed Product in such country or other jurisdiction has expired.

 

4.4. Royalty
Payments and Reports. Xynomic shall calculate all amounts payable to Pharmacyclics pursuant to this ARTICLE 4 at the
end of each Calendar Quarter, which amounts shall be converted to Dollars, in accordance Section 4.5. Xynomic shall pay
to Pharmacyclics the royalty amounts due with respect to a given Calendar Quarter [****] after the end of such Calendar Quarter.
Each payment of royalties due to Pharmacyclics shall be accompanied by a royalty and Commercialization statement, [****] Without
limiting the generality of the foregoing, Xynomic shall require its Affiliates and Sublicensees to account for its Net Sales and
to provide such reports with respect thereto as if such sales were made by Xynomic.

 

4.5. Mode
of Payment; Offsets. All payments to either Party under this Agreement shall be made by deposit of Dollars in the requisite
amount to such bank account as the receiving Party may from time to time designate by written notice to the paying Party. For
the purpose of calculating any sums due under, or otherwise reimbursable pursuant to, this Agreement (including the calculation
of Net Sales expressed in currencies other than Dollars), a Party shall convert any amount expressed in a foreign currency into
Dollar equivalents using its, its Affiliate’s or Sublicensee’s standard conversion methodology consistent with Accounting
Standards. Xynomic shall have no right to offset, set off or deduct any amounts from or against the amounts due to Pharmacyclics
hereunder. All payments to a Party (or such Party’s Affiliates or designees) under this Agreement will be irrevocable, non-refundable
and non-creditable.

 

    12

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

4.6. Withholding
Taxes. Each Party shall be solely responsible for the payment of all taxes imposed on its income arising directly or indirectly
from this Agreement. Where any sum due to be paid to either Party hereunder is subject to any withholding or similar tax, the
Parties agree to cooperate with each other and use their commercially reasonable efforts to do all such acts and things and to
sign all such documents as will enable them to take advantage of any applicable double taxation agreement or treaty. In the event
there is no applicable double taxation agreement or treaty, or if an applicable double taxation agreement or treaty reduces but
does not eliminate such withholding or similar tax, the payor shall remit such withholding or similar tax to the appropriate government
authority, deduct the amount paid from the amount due to payee and secure and send to payee the best available evidence of the
payment of such withholding or similar tax.  Any such amounts deducted by the payor in respect of such withholding or similar
tax shall be treated as having been paid by the payor for purposes of this Agreement. If withholding or similar taxes are paid
to a government authority, each Party will provide the other such assistance as is reasonably required to obtain a refund of the
withheld or similar taxes, or obtain a credit with respect to such taxes paid.

 

4.7. Indirect
Taxes. All payments are exclusive of value added taxes, sales taxes, consumption taxes and other similar taxes (the “Indirect
Taxes”).  If any Indirect Taxes are chargeable in respect of any payments, the paying Party shall pay such Indirect
Taxes at the applicable rate in respect of such payments following receipt, where applicable, of an Indirect Taxes invoice in
the appropriate form issued by the receiving Party in respect of those payments. The Parties shall issue invoices for all amounts
payable under this Agreement consistent with Indirect Tax requirements and irrespective of whether the sums may be netted for
settlement purposes.  If the Indirect Taxes originally paid or otherwise borne by the paying Party are in whole or in part
subsequently determined not to have been chargeable, all necessary steps will be taken by the receiving Party to receive a refund
of these undue Indirect Taxes from the applicable governmental authority or other fiscal authority and any amount of undue Indirect
Taxes repaid by such authority to the receiving Party will be transferred to the paying Party [****] of receipt.

 

4.8. Interest
on Late Payments. If any payment due to either Party under this Agreement is not paid when due, then, without limiting any
rights or remedies of the receiving Party, such paying Party shall pay interest thereon (before and after any judgment) at an
annual rate (but with interest accruing on a daily basis) [****]

 

4.9. Financial
Records. Xynomic shall, and shall cause its Affiliates to, keep complete and accurate books and records pertaining to Net
Sales of Licensed Products, in sufficient detail to calculate all amounts payable hereunder and to verify compliance with its
obligations under this Agreement. Such books and records shall be retained by Xynomic and its Affiliates until [****] after the
end of the period to which such books and records pertain or for such longer period as may be required by Applicable Law.

 

4.10. Audit.
At the request of Pharmacyclics no more than once a Calendar Year, Xynomic shall, and shall cause its Affiliates to, permit
an independent auditor designated by Pharmacyclics and reasonably acceptable to Xynomic, at reasonable times and upon reasonable
prior notice, to audit the books and records maintained pursuant to Section 4.9 to ensure the accuracy of all reports
and payments made hereunder. Except as provided below, the cost of this audit shall be solely borne by Pharmacyclics, unless the
audit reveals a variance of [****] from the reported amounts which were owed by Xynomic, in which case Xynomic shall bear the
cost of the audit. Unless disputed pursuant to Section 4.11 below, if such audit concludes that (a) additional
amounts were owed by Xynomic, Xynomic shall pay the additional amounts, with interest from the date originally due as provided
in Section 4.8, or (b) excess payments were made by Xynomic, Pharmacyclics shall reimburse such excess payments,
in either case ((a) or (b)), within sixty (60) days after the date on which such audit is completed by Pharmacyclics.

 

    13

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

4.11. Audit
Dispute. In the event of a dispute with respect to any audit under Section 4.10, Pharmacyclics and Xynomic shall
work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable resolution of any such
dispute [****], the dispute shall be submitted for resolution to a certified public accounting firm jointly selected by each Party’s
accountants or to such other Person as the Parties shall mutually agree (the “Audit Arbitrator”). The decision
of the Audit Arbitrator shall be final and the costs of such arbitration as well as the initial audit shall be borne between the
Parties in such manner as the Audit Arbitrator shall determine. [****] after such decision and in accordance with such decision,
Xynomic shall pay the additional amounts, with interest from the date originally due as provided in Section 4.8, or
Pharmacyclics shall reimburse the excess payments, as applicable.

 

4.12. Confidentiality.
Pharmacyclics shall treat all information subject to review under this ARTICLE 4 in accordance with the confidentiality
provisions of ARTICLE 7 and the Parties shall cause the Audit Arbitrator to enter into a reasonably acceptable confidentiality
agreement with Xynomic obligating such firm to retain all such financial information in confidence pursuant to such confidentiality
agreement.

 

4.13. No
Other Compensation. Each Party hereby agrees that the terms of this Agreement fully define all consideration, compensation
and benefits, monetary or otherwise, to be paid, granted or delivered by one Party to the other Party in connection with the transactions
contemplated herein. Neither Party previously has paid or entered into any other commitment to pay, whether orally or in writing,
any of the other Party’s employees, directly or indirectly, any consideration, compensation or benefits, monetary or otherwise,
in connection with the transaction contemplated herein.

 

ARTICLE
5

INTELLECTUAL PROPERTY

 

5.1. Ownership
of Intellectual Property.

 

5.1.1. Ownership
of Technology. 

 

(a)
Pharmacyclics Patents and Pharmacyclics Know-How. Subject to the license granted in Section 3.1, Pharmacyclics
shall own and retain all right, title and interest in and to all Pharmacyclics Patents and Pharmacyclics Know-How.

 

(b)
Xynomic Technology. Xynomic shall own and retain all right, title, and interest in and to any and all: (a) Know-How and
inventions that are conceived, discovered, developed, or otherwise made by or on behalf of Xynomic (or its Affiliates or Sublicensees)
under or in connection with this Agreement, whether or not patented or patentable, and any and all Patents and other intellectual
property rights with respect thereto and (b) other Know-How, inventions, Patents, and other intellectual property rights
that are owned or otherwise Controlled (other than pursuant to the license grants set forth in Section 3.1 and Section
3.2) by Xynomic, its Affiliates or its licensees or Sublicensees.

 

5.1.2. United
States Law.  The determination of whether Know-How and inventions are conceived, discovered, developed, or otherwise made
by a Party for the purpose of allocating proprietary rights (including Patent, copyright or other intellectual property rights)
therein, shall, for purposes of this Agreement, be made in accordance with Applicable Law in the United States where a contractually
agreed choice of law is permitted; otherwise the applicable patent law in the country where patent protection is sought shall
apply.

 

    14

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

5.1.3. Ownership
of Corporate Names. Pharmacyclics shall retain all right, title and interest in and to any corporate names, Trademarks and
logos owned or otherwise used by Pharmacyclics or any of its Affiliates. As of the Effective Date, Pharmacyclics has not chosen
or used any Trademark for the Licensed Compound or Licensed Products. Xynomic shall have sole discretion in selecting and using
and own any Trademarks for the Licensed Compound and Licensed Products (subject to Section 10.6.1(e) and Section 10.7(e)).

 

5.2. Maintenance
and Prosecution of Patents.

 

5.2.1. Patent
Prosecution and Maintenance of Pharmacyclics Patents. Xynomic shall have the sole right, but not the obligation, to prepare,
file, prosecute, and maintain all of the Pharmacyclics Patents worldwide, which activities shall be at Xynomic’s sole expense.
Xynomic shall have the right to use counsel of its choice; provided that any such counsel shall be subject to Pharmacyclics’
written consent, which shall not be unreasonably withheld, conditioned or delayed. Xynomic shall keep Pharmacyclics reasonably
informed with regard to the preparation, filing, prosecution, and maintenance of all Pharmacyclics Patents. Pharmacyclics shall
have an opportunity to review and comment upon patent prosecution and filing decisions and Xynomic shall consider Pharmacyclics’
comments in good faith. In the event that Xynomic decides not to prepare, file, prosecute, or maintain an Pharmacyclics Patent
in a country or other jurisdiction in the Territory, Xynomic shall provide reasonable (but [****]) prior written notice to Pharmacyclics
of such intention, and Pharmacyclics shall thereupon have the option, in its sole discretion, to assume the control and direction
of the preparation, filing, prosecution, and maintenance of such Pharmacyclics Patent at its sole expense in such country or other
jurisdiction. In such an event, Xynomic will (a) assign to Pharmacyclics all right, title, and interest in and to all Patent applications
Patent and other documentation related thereto (each, a “Reverted Patent”), and (b) Xynomic shall reasonably
cooperate with Pharmacyclics in such country or other jurisdiction as provided under Section 5.2.2. Pharmacyclics will
not enforce any Reverted Patent against Xynomic as long as Pharmacyclics is receiving a royalty payment under Section 4.3
of this Agreement in respect of a Licensed Product within the scope of such Reverted Patent.

 

5.2.2. Cooperation.
The Parties agree to reasonably cooperate in the preparation, filing, prosecution, and maintenance of the Pharmacyclics Patents
in the Territory under this Agreement.

 

5.2.3. Patent
Term Extension and Supplementary Protection Certificate. Xynomic shall have the right to make decisions regarding patent term
extensions, including supplementary protection certificates and any other extensions that are now or become available in the future,
wherever applicable, for Pharmacyclics Patents in any country or other jurisdiction. Xynomic shall have the primary responsibility
of applying for any extension or supplementary protection certificate with respect to such Patents in the Territory. Pharmacyclics
shall provide reasonable assistance, as requested by and at the sole cost of Xynomic, including by taking such action as patent
holder as is required under any Applicable Law to obtain such extension or supplementary protection certificate.

 

5.2.4. Patent
Listings. Xynomic shall have the sole right to make all filings with Regulatory Authorities in the Territory with respect
to Pharmacyclics Patents, including as required or allowed (a) in the United States and (b) outside the United States.

 

    15

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

5.3. Enforcement
of Patents.

 

5.3.1. Enforcement
of Pharmacyclics Patents. Each Party shall promptly notify the other Party in writing of any alleged or threatened infringement
of the Pharmacyclics Patents by a Third Party in the Territory of which such Party becomes aware (including alleged or threatened
infringement based on the Development, Commercialization, or an application to market a Licensed Product in the Territory (the
“Product Infringement”)). Xynomic shall have the first right, but not the obligation, to prosecute any Product
Infringement of a Pharmacyclics Patent in the Territory (the “Xynomic Prosecuted Infringements”) at its sole
expense and Xynomic shall retain control of the prosecution of such claim, suit or proceeding. In the event Xynomic prosecutes
any Xynomic Prosecuted Infringement, Pharmacyclics shall have the right to join as a party to such claim, suit, or proceeding
in the Territory and participate with its own counsel at its own expense; provided that Xynomic shall retain control of
the prosecution of such claim, suit, or proceeding. If Xynomic does not take commercially reasonable steps to prosecute an Xynomic
Prosecuted Infringement (a) within [****] following the first notice provided above with respect to the Xynomic Prosecuted
Infringement, or (b) [****] before the time limit, if any, set forth in appropriate laws and regulations for filing of such
actions, whichever comes first, then Xynomic shall so notify Pharmacyclics. Pharmacyclics may then prosecute the Product Infringement
of a Pharmacyclics Patent in the Territory at its own expense.

 

5.3.2. Generic
Competition. Notwithstanding the foregoing, if either Party: (a) reasonably believes that a Third Party may be filing
or preparing or seeking to file a generic or abridged Drug Approval Application that refers or relies on Regulatory Documentation
submitted by either Party to any Regulatory Authority, whether or not such filing may infringe the Pharmacyclics Patents; (b) receives
any notice of certification regarding the Pharmacyclics Patents pursuant to the U.S. “Drug Price Competition and Patent
Term Restoration Act” of 1984 (21 United States Code §355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV)) (“ANDA Act”)
claiming that any such Patents are invalid or unenforceable or claiming that any such Patents will not be infringed by the Manufacture,
use, marketing or sale of a product for which an application under the ANDA Act is filed; or (c) receives any equivalent
or similar certification or notice in any other jurisdiction, it shall (i) notify the other Party in writing identifying
the alleged applicant or potential applicant and furnishing the information upon which determination is based and (ii) provide
with a copy of any such notice of certification within [****] of the date of receipt and the Parties’ rights and obligations
with respect to any legal action as a result of such certification shall be as set forth in Sections 5.3.1 or 5.3.3,
as applicable; Xynomic shall have the right, but shall not be obligated, to bring suit against such Third Party and to join Pharmacyclics
as a party plaintiff if necessary to bring such a suit, in which event Xynomic shall hold Pharmacyclics harmless from and against
any and all costs and expenses of such litigation, including reasonable attorneys’ fees and expenses.

 

5.3.3. Cooperation.
The Parties agree to cooperate fully in any infringement action pursuant to this Section 5.3. If one Party brings such
an action, then the other Party shall, if necessary, either furnish a power of attorney solely for such purpose, join in, or be
named as a necessary party to, such action. Unless otherwise set forth herein, the Party entitled to bring any patent infringement
litigation in accordance with this Section 5.3 shall have the right to settle such claim; provided that neither
Party shall have the right to settle any patent infringement litigation under this Section 5.3 in a manner that diminishes
or has a material adverse effect on the rights or interests of the other Party, or in a manner that imposes any costs or liability
on, or involves any admission by, the other Party, without the express written consent of such other Party. The Party commencing
the litigation shall provide the other Party with copies of all pleadings and other documents filed with the court and shall consider
reasonable input from the other Party during the course of the proceedings.

 

5.3.4. Recovery.
 Except as otherwise agreed by the Parties in connection with a cost sharing arrangement, any recovery realized as a result
of such litigation described in Section 5.3.1 or Section 5.3.3 (whether by way of settlement or otherwise) shall
be first allocated to reimburse the Parties for their costs and expenses in making such recovery (which amounts shall be allocated
pro rata if insufficient to cover the totality of such expenses). Any remainder after such reimbursement is made shall be retained
by the Party that has exercised its right to bring the enforcement action; provided, however, that to the extent that any
award or settlement (whether by judgment or otherwise) is attributable to loss of sales with respect to a Licensed Product, the
Parties shall negotiate in good faith an appropriate allocation of such remainder to reflect the economic interests of the Parties
under this Agreement with respect to such Licensed Product.

 

    16

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

5.4. Infringement
Claims by Third Parties. If the Manufacture, Commercialization, or use of a Licensed Compound or Licensed Product in the Territory
pursuant to this Agreement results in, or may result in, any claim, suit, or proceeding by a Third Party alleging patent infringement
by Xynomic (or its Affiliates or Sublicensees), Xynomic shall promptly notify Pharmacyclics thereof in writing. Xynomic shall
defend any action which names Xynomic and/or Pharmacyclics which claims the infringement, after the Effective Date, of any Third
Party Patent through the making, using, selling, offer for sale or importing of a Licensed Compound or Licensed Product. If necessary
and at Xynomic’s expense, Pharmacyclics will assist and cooperate with Xynomic in any such defense. Xynomic will bear all
costs and expenses (including attorneys’ fees) and pay all damages and settlement amounts arising out of or in connection
with any such action. Each Party shall keep the other Party reasonably informed of all material developments in connection with
any such claim, suit, or proceeding. Each Party agrees to provide the other Party with copies of all pleadings filed in such action
and to allow the other Party reasonable opportunity to participate in the defense of the claims. Neither Party may enter into
any settlement that affects the other Party’s rights or interests without such Party’s written consent, which consent
will not be unreasonably withheld, conditioned or delayed.

 

5.5. Invalidity
or Unenforceability Defenses or Actions.

 

5.5.1. Notice.
Each Party shall promptly notify the other Party in writing of any alleged or threatened assertion of invalidity or unenforceability
of any of the Pharmacyclics Patents (or any corresponding worldwide family members) by a Third Party, in each case in the Territory
and of which such Party becomes aware.

 

5.5.2. Pharmacyclics
Patents.  Xynomic shall have the first right, but not the obligation, to defend and control the defense of the validity and
enforceability of the Pharmacyclics Patents at its own expense in the Territory. Pharmacyclics may participate in any such claim,
suit, or proceeding in the Territory with counsel of its choice at its own expense; provided that Xynomic shall retain
control of the defense in such claim, suit, or proceeding. If Xynomic elects not to defend or control the defense of any Pharmacyclics
Patents in a suit brought in the Territory, or otherwise fails to initiate and maintain the defense of any such claim, suit, or
proceeding, then Pharmacyclics may conduct and control the defense of any such claim, suit, or proceeding of the Pharmacyclics
Patents at its own expense.

 

5.5.3. Cooperation.
 Each Party shall assist and cooperate with the other Party as such other Party may reasonably request from time to time in
connection with its activities set forth in this Section 5.5, including by being joined as a party plaintiff in such action
or proceeding, providing access to relevant documents and other evidence, and making its employees available at reasonable business
hours. In connection with any such defense or claim or counterclaim, the controlling Party shall consider in good faith any comments
from the other Party and shall keep the other Party reasonably informed of any steps taken, and shall provide copies of all documents
filed, in connection with such defense, claim, or counterclaim. In connection with the activities set forth in this Section
5.5, each Party shall consult with the other as to the strategy for the defense of the Pharmacyclics Patents.

 

5.6. Third
Party Licenses. If in the reasonable opinion of Xynomic, the Development, Manufacture, or Commercialization of any Licensed
Compound or Licensed Product by Xynomic, any of its Affiliates, or any of its or their Sublicensees infringes or misappropriates
any Patent, trade secret, or other intellectual property right of a Third Party in any country or other jurisdiction in the Territory,
such that Xynomic, any of its Affiliates or any of its or their Sublicensees cannot Develop, Manufacture, or Commercialize such
Licensed Compound or Licensed Product in such country or other jurisdiction without infringing such Patent, trade secret, or other
intellectual property right of such Third Party, then Xynomic shall have the first right, but not the obligation, to negotiate
and obtain a license from such Third Party as necessary for Xynomic and its Affiliates, and its and their Sublicensees to Develop,
Manufacture, and Commercialize Licensed Compounds and Licensed Products in such country or other jurisdiction. Xynomic shall be
solely responsible for all costs associated with obtaining such licenses; provided that Xynomic shall be entitled to offset the
amount of royalties payable by Xynomic, its Affiliates or their Sublicensees under such licenses against royalty amounts Xynomic,
its Affiliates or their Sublicensees are obligated to pay Pharmacyclics under Section 4.3.1 of this Agreement, up to a
maximum of twenty-five percent (25%) of such royalties owed to Pharmacyclics.

 

    17

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

5.7. Product
Trademarks.

 

5.7.1. Ownership
and Prosecution of Product Trademarks. Xynomic shall own all right, title, and interest in and to the Product Trademarks in
the Territory, and shall be responsible for the registration, prosecution, and maintenance thereof. All costs and expenses of
searching, registering, prosecuting, and maintaining the Product Trademarks shall be borne solely by Xynomic.

 

5.7.2. Enforcement
of Product Trademarks. Xynomic shall have the sole right and responsibility for taking such action as Xynomic deems necessary
against a Third Party based on any alleged, threatened, or actual infringement, dilution, misappropriation, or other violation
of, or unfair trade practices or any other like offense relating to, the Product Trademarks by a Third Party in the Territory.
Xynomic shall bear the costs and expenses relating to any enforcement action commenced pursuant to this Section 5.7.2 and
any settlements and judgments with respect thereto, and shall retain any damages or other amounts collected in connection therewith.

 

5.7.3. Third
Party Claims. Xynomic shall have the sole right and responsibility for defending against any alleged, threatened, or actual
claim by a Third Party that the use or registration of the Product Trademarks in the Territory infringes, dilutes, misappropriates,
or otherwise violates any Trademark or other right of that Third Party or constitutes unfair trade practices or any other like
offense, or any other claims as may be brought by a Third Party against a Party in connection with the use of the Product Trademarks
with respect to a Licensed Product in the Territory. Xynomic shall bear the costs and expenses relating to any defense commenced
pursuant to this Section 5.7.3 and any settlements and judgments with respect thereto, and shall retain any damages or
other amounts collected in connection therewith.

 

5.7.4. Notice
and Cooperation. Each Party shall provide to the other Party prompt written notice of any actual or threatened infringement
of the Product Trademarks in the Territory and of any actual or threatened claim that the use of the Product Trademarks in the
Territory violates the rights of any Third Party. Each Party agrees to cooperate fully with the other Party with respect to any
enforcement action or defense commenced pursuant to this Section 5.7.

 

5.7.5. Markings.
Xynomic and each of its Sublicensees will mark each Licensed Product sold under the Pharmacyclics Patents with a notice in accordance
with and to the extent required by 35 U.S.C. § 287, and similar marking provisions in countries other than the United States
in the Territory.

 

5.8. Inventor's
Remuneration. Xynomic shall be solely responsible for any remuneration that may be due Xynomic’s inventors under any
applicable inventor remuneration laws.

 

    18

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

ARTICLE
6

PHARMACOVIGILANCE

 

6.1. Pharmacovigilance.
Pharmacyclics shall effect a transfer of any global safety database relating to Licensed Compounds from Pharmacyclics to Xynomic
[****] following the Effective Date. Other than with respect to such transfer of the global safety database (to the extent required),
Pharmacyclics shall have no ongoing pharmacovigilance obligations. Xynomic shall assume all pharmacovigilance activities and obligations
for the Licensed Compounds and Licensed Products as of the Effective Date. In the event a safety report or other related report
is sent by a clinical investigator to Pharmacyclics after the effective date of the foregoing transfer of the global safety database
to Xynomic, then Pharmacylics shall forward such report to Xynomic [****] after receipt of such report, or earlier if required
by Applicable Law. Xynomic shall be solely responsible for further communication with the source of such report and processing
of the data and information contained in such report, and Xynomic shall ensure that the source of such report has the correct
reporting contact information for pharmacovigilance at Xynomic within a reasonably prompt time period.

 

ARTICLE
7

CONFIDENTIALITY AND NON-DISCLOSURE

 

7.1. Confidentiality
Obligations. At all times during the Term and for a period [****] following termination or expiration hereof in its entirety,
each Party shall, and shall cause its officers, directors, employees and agents to, keep confidential and not publish or otherwise
disclose to a Third Party and not use, directly or indirectly, for any purpose, any Confidential Information furnished or otherwise
made known to it, directly or indirectly, by the other Party, except to the extent such disclosure or use is expressly permitted
by the terms of this Agreement or is reasonably necessary for the performance of, or the exercise of such Party’s rights
under, this Agreement. Notwithstanding the foregoing, but to the extent the receiving Party can demonstrate by documentation or
other competent proof, the confidentiality and non-use obligations under this Section 7.1 with respect to any Confidential
Information shall not include any information that:

 

7.1.1. has
been published by a Third Party or is or hereafter becomes part of the public domain by public use, publication, general knowledge
or the like through no wrongful act, fault or negligence on the part of the receiving Party;

 

7.1.2. have
been in the receiving Party’s possession prior to disclosure by the disclosing Party without any obligation of confidentiality
with respect to such information;

 

7.1.3. is
subsequently received by the receiving Party from a Third Party without restriction and without breach of any agreement between
such Third Party and the disclosing Party; or

 

7.1.4. have
been independently developed by or for the receiving Party, as evidenced by reasonable contemporaneous evidence, without reference
to, or use or disclosure of the disclosing Party’s Confidential Information.

 

Specific
aspects or details of Confidential Information shall not be deemed to be within the public domain or in the possession of the
receiving Party merely because the Confidential Information is embraced by more general information in the public domain or in
the possession of the receiving Party. Further, any combination of Confidential Information shall not be considered in the public
domain or in the possession of the receiving Party merely because individual elements of such Confidential Information are in
the public domain or in the possession of the receiving Party unless the combination and its principles are in the public domain
or in the possession of the receiving Party.

 

7.2. Permitted
Disclosures. Each Party may disclose Confidential Information to the extent that such disclosure is:

 

7.2.1. permitted
with prior written consent of the disclosing Party;

 

    19

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

7.2.2. in
the reasonable opinion of the receiving Party’s legal counsel, required to be disclosed pursuant to law, regulation (including
regulations of securities exchange) or made in response to a valid order of a court of competent jurisdiction or other supra-national,
federal, national, regional, state, provincial and local governmental or regulatory body of competent jurisdiction, including
by reason of filing with securities regulators; provided, however, that the receiving Party shall first have given prompt
written notice (and to the extent possible, [****]) to the disclosing Party and given the disclosing Party a reasonable opportunity
to take whatever action it deems necessary to protect its Confidential Information (for example, to quash such order or to obtain
a protective order or confidential treatment requiring that the Confidential Information and documents that are the subject of
such order be held in confidence by such court or regulatory body or, if disclosed, be used only for the purposes for which the
order was issued). In the event that no protective order or other remedy is obtained, or the disclosing Party waives compliance
with the terms of this Agreement, receiving Party shall furnish only that portion of Confidential Information which receiving
Party is advised by counsel is legally required to be disclosed;

 

7.2.3. made
by or on behalf of the receiving Party to the Regulatory Authorities as required in connection with any filing, application or
request for Regulatory Approval in accordance with the terms of this Agreement; provided, however, that reasonable measures
shall be taken to assure confidential treatment of such information to the extent practicable and consistent with Applicable Law;

 

7.2.4. made
by or on behalf of the receiving Party to a patent authority as may be reasonably necessary or useful for purposes of obtaining,
defending or enforcing a Patent in accordance with the terms of this Agreement; provided, however, that reasonable measures
shall be taken to assure confidential treatment of such information, to the extent such protection is available;

 

7.2.5. made
to its or its Affiliates’ financial and legal advisors who have a need to know such disclosing Party’s Confidential
Information and are either under professional codes of conduct giving rise to expectations of confidentiality and non-use or under
written agreements of confidentiality and non-use, in each case, at least as restrictive as those set forth in this Agreement;
provided that the receiving Party shall remain responsible for any failure by such financial and legal advisors, to treat
such Confidential Information as required under this ARTICLE 7; or

 

7.2.6. made
by the receiving Party or its Affiliates or Sublicensees to its or their advisors, consultants, clinicians, vendors, service providers,
contractors, existing or prospective collaboration partners, licensees, sublicensees, or acquirers or other Third Parties as may
be necessary or useful in connection with the Exploitation of a Licensed Compound, the Licensed Products, or otherwise in connection
with the performance of its obligations or exercise of its rights as contemplated by this Agreement, or to potential or actual
investors or acquirers as may be necessary or useful in connection with their evaluation of such potential or actual investment
or acquisition; provided, however, that such persons shall be subject to obligations of confidentiality and non-use with
respect to such Confidential Information substantially similar to the obligations of confidentiality and non-use of the receiving
Party pursuant to this ARTICLE 7.

 

7.3. Use
of Name. Except as expressly provided herein, neither Party shall mention or otherwise use the name, logo, or Trademark of
the other Party or any of its Affiliates (or any abbreviation or adaptation thereof) in any publication, press release, marketing
and promotional material, or other form of publicity without the prior written approval of such other Party in each instance.
The restrictions imposed by this Section 7.3 shall not prohibit either Party from making any disclosure identifying the
other Party that, in the opinion of the disclosing Party’s counsel, is required by Applicable Law; provided such Party shall
submit the proposed disclosure identifying the other Party in writing to the other Party as far in advance as reasonably practicable
so as to provide a reasonable opportunity to comment thereon.

 

    20

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

7.4. Public
Announcements. Neither Party shall issue any public announcement, press release, or other public disclosure regarding this
Agreement or its subject matter without the other Party’s prior written consent, except for (a) an initial press release
mutually agreed upon by the Parties and attached hereto as Schedule 7.4, or (b) any disclosure that is, in the opinion
of the disclosing Party’s counsel, required by Applicable Law or the rules of a stock exchange on which the securities of
the disclosing Party are listed. In the event Xynomic wishes to issue a press release announcing major Development or Commercialization
progress related solely to the Licensed Product during the Term of this Agreement, the content shall be subject to Pharmacyclics’
prior consent, which consent shall not be unreasonably withheld, conditioned or delayed. In the event a Party is, in the opinion
of its counsel, required by Applicable Law or the rules of a stock exchange on which its securities are listed to make such a
public disclosure, such Party shall submit the proposed disclosure in writing to the other Party as far in advance as reasonably
practicable so as to provide a reasonable opportunity to comment thereon. For the avoidance of doubt and notwithstanding any limitations
set forth herein, (i) Xynomic may not in any event specifically mention the name of “AbbVie” and “Pharmacyclics”
or any of their Affiliates in any the press release, or any terms of this Agreement, without Pharmacyclics’ prior written
consent and (ii) Xynomic may use the name of “abexinostat” and any information, with respect to which Pharmacyclics’
consent has been obtained pursuant to this Section 7 previously, without Pharmacyclics’ prior written consent. In the event
a public announcement, press release, or other public disclosure regarding this Agreement or its subject matter is issued in multiple
languages, all such translated announcements, press releases or other disclosures shall (A) be in compliance with this Section
7.4, provided that Xynomic must only receive consent from Pharmacyclics with regard to the original press rele ase, public
announcement or disclosure, and (B) not deviate in form, content, or meaning, after translation, from the press release, announcement
or other public disclosure consented to by Pharmacyclics.

 

7.5. Publications.
 Each Party recognizes that the publication of papers regarding results of, and other information regarding, activities under
this Agreement, including oral presentations and abstracts, may be beneficial to both Parties, provided that such publications
are subject to reasonable controls to protect Confidential Information. In particular, it is the intent of the Parties to maintain
the confidentiality of any Confidential Information included in any invention disclosures or draft Patent application until such
Patent application has been filed. Accordingly, each Party shall have the right to review and approve any paper proposed for publication
by the other Party, including any oral presentation or abstract, that contains clinical data or pertains to results of clinical
studies, or other studies with respect to the Licensed Compounds or Licensed Products or that includes Confidential Information
of the other Party. Before any such paper is submitted for publication or an oral presentation is made, the publishing or presenting
Party shall deliver a then-current copy of the paper or materials for oral presentation to the other Party [****] prior to submitting
the paper to a publisher or making the presentation. The other Party shall review any such paper and give its comments to the
publishing Party [****] of the delivery of such paper to the other Party. With respect to oral presentation materials and abstracts,
the other Party shall make reasonable efforts to expedite review of such materials and abstracts, and shall return such items
as soon as practicable to the publishing or presenting Party with appropriate comments, if any, but in no event later than twenty-five
(25) days from the date of delivery to the other Party. Failure to respond within such twenty-five (25) days shall be deemed approval
to publish or present. If approval is not given or deemed given, either Party may refer the matter to the Senior Officers or their
delegates for resolution together with the reasons for withholding approval. Notwithstanding the foregoing, the publishing or
presenting Party shall comply with the other Party’s request to delete references to such other Party’s Confidential
Information in any such paper and will withhold publication of any such paper or any presentation of same [****] in order to permit
the Parties to obtain Patent protection if either Party deems it necessary. Any publication shall include recognition of the contributions
of the other Party according to standard practice for assigning scientific credit, either through authorship or acknowledgement,
as may be appropriate.

 

    21

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

7.6. Trade
Secrets. Xynomic acknowledges that Pharmacyclics may transfer trade secrets to Xynomic in connection with this Agreement.
Xynomic shall take all steps reasonably necessary to maintain such information as a trade secret for an indefinite period, notwithstanding
Section 7.1. No trade secret information of Pharmacyclics may be transferred to a Third Party until Xynomic has: (a) received
Pharmacyclics’ written approval, which approval shall not be unreasonably withheld, conditioned or delayed and (b) entered
into a confidentiality agreement at least as restrictive as the confidentiality terms of this Agreement, and which shall contain
provisions protecting the confidentiality of trade secrets indefinitely. In addition, Xynomic shall take steps reasonably necessary
to ensure that such Third Party maintains such information as a trade secret. Such trade secrets may only be used by Xynomic and/or
such Third Party as expressly set forth in this Agreement.

 

7.7. Return
of Confidential Information. Upon the effective date of the termination of this Agreement for any reason, either Party may
request in writing, and the other Party shall either, with respect to Confidential Information (in the event of termination of
this Agreement with respect to one or more Terminated Territories but not in its entirety, solely to the extent relating to such
Terminated Territories) to which such first Party does not retain rights under the surviving provisions of this Agreement: (a) promptly
destroy all copies of such Confidential Information in the possession of the other Party and confirm such destruction in writing
to the requesting Party; or (b) promptly deliver to the requesting Party, at the other Party’s expense, all copies
of such Confidential Information in the possession of the other Party; provided, however, the other Party shall be permitted
to retain one (1) copy of such Confidential Information for the sole purpose of performing any continuing obligations hereunder
or for archival purposes. Notwithstanding the foregoing, such other Party also shall be permitted to retain such additional copies
of or any computer records or files containing such Confidential Information that have been created solely by such Party’s
automatic archiving and back-up procedures, to the extent created and retained in a manner consistent with such other Party’s
standard archiving and back-up procedures, but not for any other use or purpose.

 

7.8. Survival.
All Confidential Information shall continue to be subject to the terms of this Agreement for the applicable periods set forth
in this ARTICLE 7 regardless of the termination or expiration of this Agreement.

 

ARTICLE
8

REPRESENTATIONS AND WARRANTIES

 

8.1. Mutual
Representations and Warranties. Pharmacyclics and Xynomic each represents and warrants to the other, as of the Effective Date,
and covenants, as follows:

 

8.1.1. Organization.
 It is a corporation duly organized, validly existing, and in good standing under the laws of the jurisdiction of its organization,
and has all requisite power and authority, corporate or otherwise, to execute, deliver, and perform this Agreement.

 

8.1.2. Authorization.
The execution and delivery of this Agreement and the performance by it of the transactions contemplated hereby have been duly
authorized by all necessary corporate action, and do not violate (a) such Party’s charter documents, bylaws, or other
organizational documents, (b) in any material respect, any agreement, instrument, or contractual obligation to which such
Party is bound, (c) any requirement of any Applicable Law, or (d) any order, writ, judgment, injunction, decree, determination,
or award of any court or governmental agency presently in effect applicable to such Party.

 

    22

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

8.1.3. Binding
Agreement. This Agreement is a legal, valid, and binding obligation of such Party enforceable against it in accordance with
its terms and conditions, subject to the effects of bankruptcy, insolvency, or other laws of general application affecting the
enforcement of creditor rights, judicial principles affecting the availability of specific performance, and general principles
of equity (whether enforceability is considered a proceeding at law or equity).

 

8.1.4. No
Inconsistent Obligation. It is not under any obligation, contractual or otherwise, to any Person that conflicts with or is
inconsistent in any material respect with the terms of this Agreement, or that would impede the diligent and complete fulfillment
of its obligations hereunder.

 

8.1.5. No
Litigation. There is no action or proceeding pending or, to the knowledge of such Party, threatened that could reasonably
be expected to impair or delay the ability of such Party to perform its obligations under this Agreement.

 

8.2. Additional
Representations and Warranties of Pharmacyclics. Pharmacyclics further represents and warrants to Xynomic, as of the Effective
Date, and covenants, as follows:

 

8.2.1. Pharmacyclics
or one of its Affiliates Controls the Pharmacyclics Patents and Pharmacyclics Know-How and has sufficient legal and/or beneficial
title and ownership, subject to the Celera Assignment Agreement, of or to Pharmacyclics Patents and Pharmacyclics Know-How to
grant the licenses and sublicenses specified herein.

 

8.2.2. To
the Knowledge of Pharmacyclics, there is no claim by any Third Party or Regulatory Authority, and Pharmacyclics has not received
any written claim or demand alleging that (a) an issued Patent which is a Pharmacyclics Patents is invalid or unenforceable,
or (b) the Development or Commercialization of a Licensed Product as contemplated herein infringes any Patent or misappropriated
any intellectual properties owned by any Third Party.

 

8.2.3. Pharmacyclics
and its Affiliates will not enter into any agreement, grant any licenses under Pharmacyclics Patents or Pharmacyclics Know-How
or take any action that is inconsistent with Pharmacyclics’ obligations or impair Xynomic’s rights under this Agreement.

 

8.2.4. To
the Knowledge of Pharmacyclics, the Regulatory Documentation and Know-How to be assigned or transferred to Xynomic (i) were generated
or manufactured in accordance with all Applicable Laws, including good clinical practices and good laboratory practices, as applicable,
and (ii) were received and processed in accordance with all Applicable Laws prior to and during delivery to Xynomic.

 

8.2.5. To
the Knowledge of Pharmacyclics, no Third Party has challenged the extent, validity or enforceability of issued Pharmacylics Patents
(including by way of example through the institution or written threat of institution of interference, nullity or similar invalidity
proceedings before the United States Patent and Trademark Office or any analogous foreign entity), and all application, registration,
maintenance and renewal fees in respect of the Pharmacyclics Patents have been paid and all documents and certificates required
to be filed with the relevant agencies for the purpose of maintaining such Pharmacyclics Patents have been filed.

 

8.2.6. To
the Knowledge of Pharmacyclics, none of the rights of Pharmacyclics or its Affiliates under the Pharmacyclics Patents in the Territory
were developed with funding from any government or any other Governmental Authority such that the government or other Governmental
Authority in such jurisdiction has any march-in rights in or to any Pharmacyclics Patent in the Territory or such that Pharmacyclics
or its Affiliates would be subject to any compulsory licensing requirements in the Territory.

 

    23

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

8.2.7. Pharmacyclics
represents and warrants that Schedule 8.2.7 sets forth a true, accurate and complete list of the Pharmacyclics Patents.
[****]

 

8.2.8. Neither
Pharmacyclics nor its Affiliates have used in any capacity any Debarred Entity, Excluded Entity or Convicted Entity in the Development
or Manufacture of a Licensed Product.

 

a) A
“Debarred Individual” is an individual who has been debarred by the FDA pursuant to 21 U.S.C. §335a (a)
or (b) from providing services in any capacity to a Person that has an approved or pending drug or biological product application.

 

b) A
“Debarred Entity” is a corporation, partnership or association that has been debarred by the FDA pursuant to
21 U.S.C. §335a (a) or (b) from submitting or assisting in the submission of any abbreviated drug application, or a subsidiary
or affiliate of a Debarred Entity.

 

c) An
“Excluded Individual” or “Excluded Entity” is (A) an individual or entity, as applicable,
who has been excluded, debarred, suspended or is otherwise ineligible to participate in federal health care programs such as Medicare
or Medicaid by the Office of the Inspector General (OIG/HHS) of the U.S. Department of Health and Human Services, or (B) is an
individual or entity, as applicable, who has been excluded, debarred, suspended or is otherwise ineligible to participate in federal
procurement and non-procurement programs, including those produced by the U.S. General Services Administration (GSA).

 

d) A
“Convicted Individual” or “Convicted Entity” is an individual or entity, as applicable,
who has been convicted of a criminal offense that falls within the ambit of 21 U.S.C. §335a (a) or 42 U.S.C. §1320a
- 7(a), but has not yet been excluded, debarred, suspended or otherwise declared ineligible.

 

e) “FDA’s
Disqualified/Restricted List” is the list of clinical investigators restricted from receiving investigational drugs,
biologics, or devices if the FDA has determined that the investigators have repeatedly or deliberately failed to comply with regulatory
requirements for studies or have submitted false information to the study sponsor or the FDA.

 

8.2.9. Pharmacyclics
has provided or will provide to Xynomic all Pharmacyclics Know-How. [****]

 

8.3. Additional
Representations and Warranties of Xynomic. Xynomic further represents and warrants to Pharmacyclics, as of the Effective Date,
and covenants, as follows:

 

8.3.1. Xynomic
(a) has conducted its own investigation and analysis of (i) the Patents and other proprietary rights of Third Parties
as such rights relate to the Exploitation of the Licensed Compounds and Licensed Products and (ii) the potential infringement
thereof, (b) understands the complexity and uncertainties associated with possible claims of infringement of Patent or other
proprietary rights of Third Parties, particularly those relating to pharmaceutical products, and (c) acknowledges and agrees
that it is solely responsible for the risks of such claims. Xynomic acknowledges and agrees that it has received access to the
information relating to the Pharmacyclics Patents, Pharmacyclics Know-How, Licensed Compounds and Licensed Products that Xynomic
deemed necessary to conduct and complete its due diligence related to the transactions contemplated by this Agreement, and Xynomic
warrants that it has diligently reviewed all such information.

 

8.3.2. Xynomic
and its Affiliates (a) have sufficient financial resources to conduct its business in the ordinary course, meet all of its debts
and financial obligations, and have no reasonable basis on which to expect that its operations may be impaired by financial instability
or insolvency, and (b) shall take no actions during the Term of this Agreement that would materially impair its financial ability
to meet its obligations hereunder, including but not limited to payments to shareholders in the form of dividends, equity redemptions
or otherwise, or otherwise materially impairing its ability to meet its debts and financial obligations in the ordinary course.

 

    24

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

8.3.3. Xynomic
and its Affiliates have not ever been, are not currently, nor are they the subject of a proceeding that could lead to it or its
Affiliates becoming a Debarred Entity, Excluded Entity or Convicted Entity and it and its Affiliates will not use in any capacity,
in connection with the obligations to be performed under this Agreement, any person who is a Debarred Individual, Excluded Individual
or a Convicted Individual. Xynomic further covenants that if, during the Term, it or its Affiliates become a Debarred Entity,
Excluded Entity or Convicted Entity, or listed on the FDA’s Disqualified/Restricted List or if any employee or agent performing
any of its obligations hereunder becomes a Debarred Individual, Excluded Individual or a Convicted Individual, or added to the
FDA’s Disqualified/Restricted List, Xynomic shall immediately notify Pharmacyclics and Pharmacyclics shall have the option,
at its sole discretion, to either: (a) prohibit such Person from performing work under this Agreement, (b) terminate all work
being performed or to be performed by Xynomic pursuant to this Agreement or (c) terminate this Agreement.

 

8.3.4. The
Parties acknowledge and agree that (a) governmental authorities, including the U.S. federal government prohibits trade with certain
sanctioned or blocked parties and publishes and maintains lists of Persons with whom trade is prohibited (each such governmental
authority’s list, a “Sanctioned Party List”). Xynomic represents and warrants that it (i) is not on any
Sanctioned Party List maintained by any governmental authority, (ii) has no reason to believe it will be placed on any Sanctioned
Party List, and (iii) will not deal with, conduct any business with or otherwise transact in any manner related to the rights
and obligations contained in this Agreement with any Person on any global Sanctioned Party List.

 

8.4. DISCLAIMER.
EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH HEREIN, NEITHER PARTY MAKES ANY REPRESENTATIONS OR GRANTS ANY WARRANTIES, EXPRESS
OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, AND EACH PARTY SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES,
WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF QUALITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR
USE OR PURPOSE OR ANY WARRANTY AS TO THE VALIDITY OF ANY PATENTS OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF
THIRD PARTIES. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE LICENSES GRANTED HEREIN ARE MADE “AS IS, WHERE IS”
WITH ALL FAULTS.

 

8.5.
Covenant of Pharmacyclics. Pharmacyclics shall, and shall cause its Affiliates to discontinue and shall not start, engage
in, directly or indirectly, by itself of in collaboration with a Third Party, any and all development work of [****]

 

ARTICLE
9

INDEMNITY

 

9.1. Indemnification
of Pharmacyclics. Xynomic shall indemnify Pharmacyclics, its Affiliates and its and their respective directors, officers,
employees, and agents (“Xynomic Indemnitees”), and defend and save each of them harmless, from and against
any and all losses, damages, liabilities, penalties, costs, and expenses (including reasonable attorneys’ fees and expenses)
(collectively, “Losses”) in connection with any and all suits, investigations, claims, or demands of Third
Parties (collectively, “Third Party Claims”) incurred by or rendered against the Xynomic Indemnitees arising
from or occurring as a result of: (a) the breach by Xynomic of this Agreement, (b) the negligence, reckless conduct
or willful misconduct on the part of Xynomic or its Affiliates or Sublicensees or their respective directors, officers, employees
and agents in performing its or their obligations under this Agreement, or (c) the Exploitation by Xynomic or any of its
Affiliates or Sublicensees of any Licensed Product or the Licensed Compounds in the Territory, except for those Losses for which
Pharmacyclics, in whole or in part, has an obligation to indemnify Xynomic pursuant to Section 9.2 hereof, as to which
Losses each Party shall indemnify the other to the extent of their respective liability.

 

    25

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

9.2. Indemnification
of Xynomic. Pharmacyclics shall indemnify Xynomic, its Affiliates and its and their respective directors, officers, employees,
and agents (the “Pharmacyclics Indemnitees”), and defend and save each of them harmless, from and against any
and all Losses in connection with any and all Third Party Claims incurred by or rendered against the Pharmacyclics Indemnitees
arising from or occurring as a result of: (a) the breach by Pharmacyclics of this Agreement, (b) the negligence, reckless
conduct or willful misconduct on the part of Pharmacyclics or its Affiliates or its or their respective directors, officers, employees,
and agents in performing its obligations under this Agreement, or (c) caused by any Exploitation or other activities conducted
by or on behalf of Pharmacyclics related to any Licensed Compound or Licensed Product prior to the Effective Date, except for
those Losses for which Xynomic, in whole or in part, has an obligation to indemnify Pharmacyclics pursuant to Section 9.1
hereof, as to which Losses each Party shall indemnify the other to the extent of their respective liability for the Losses.

 

9.3. Notice
of Claim. All indemnification claims in respect of a Party, its Affiliates, or their respective directors, officers, employees
and agents shall be made solely by such Party to this Agreement (the “Indemnified Party”). The Indemnified
Party shall give the indemnifying Party prompt written notice (an “Indemnification Claim Notice”) of any Losses
or discovery of fact upon which such Indemnified Party intends to base a request for indemnification under this ARTICLE 9,
but in no event shall the indemnifying Party be liable for any Losses that result from any delay in providing such notice. Each
Indemnification Claim Notice must contain a description of the claim and the nature and amount of such Loss (to the extent that
the nature and amount of such Loss is known at such time). The Indemnified Party shall furnish promptly to the indemnifying Party
copies of all papers and official documents received in respect of any Losses and Third Party Claims.

 

9.4. Control
of Defense.

 

9.4.1. In
General. At its option, the indemnifying Party may assume the defense of any Third Party Claim by giving written notice to
the Indemnified Party within [****] after the indemnifying Party’s receipt of an Indemnification Claim Notice provided that
the Indemnifying Party has agreed to be fully responsible for all Losses relating to such claims. Upon assuming the defense of
a Third Party Claim, the indemnifying Party may appoint as lead counsel in the defense of the Third Party Claim any legal counsel
selected by the indemnifying Party which shall be reasonably acceptable to the Indemnified Party. In the event the indemnifying
Party assumes the defense of a Third Party Claim, the Indemnified Party shall immediately deliver to the indemnifying Party all
original notices and documents (including court papers) received by the Indemnified Party in connection with the Third Party Claim.
Should the indemnifying Party assume the defense of a Third Party Claim, except as provided in Section 9.4.2, the
indemnifying Party shall not be liable to the Indemnified Party for any legal expenses subsequently incurred by such Indemnified
Party in connection with the analysis, defense or settlement of the Third Party Claim unless specifically requested in writing
by the indemnifying Party.

 

9.4.2. Right
to Participate in Defense. Without limiting Section 9.4.1, any Indemnified Party shall be entitled to participate in,
but, subject to Section 9.4.1, not control, the defense of such Third Party Claim and to employ counsel of its choice for
such purpose; provided, however, that such employment shall be at the Indemnified Party’s own expense unless (a) the
employment thereof has been specifically authorized by the indemnifying Party in writing, (b) the indemnifying Party has failed
to assume the defense and employ counsel in accordance with Section 9.4.1 (in which case the Indemnified Party shall
control the defense), or (c) the interests of the Indemnified Party and the indemnifying Party with respect to such Third
Party Claim are sufficiently adverse to prohibit the representation by the same counsel of both Parties under Applicable Law,
ethical rules or equitable principles.

 

    26

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

9.4.3. Settlement.
With respect to any Losses relating solely to the payment of money damages in connection with a Third Party Claim and that
do not result in the Indemnified Party’s becoming subject to injunctive or other relief or otherwise adversely affecting
the business of the Indemnified Party in any manner, and as to which the indemnifying Party shall have acknowledged in writing
the obligation to indemnify the Indemnified Party hereunder, the indemnifying Party shall have the sole right to consent to the
entry of any judgment, enter into any settlement or otherwise dispose of such Loss, on such terms as the indemnifying Party, in
its sole discretion, shall deem appropriate. Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to assume
the defense of any Third Party Claim (and shall be liable for the reasonable fees and expenses of counsel incurred by the Indemnified
Party in defending such Third Party Claim) if (i) the Third Party Claim seeks an injunction or other equitable relief or
relief other than monetary damages for which the Indemnified Party would be entitled to indemnification under this Agreement or
may otherwise adversely affect the Indemnified Party or (ii) the Third Party Claim is a criminal, civil or administrative
proceeding, or relates to such a proceeding, or the underlying facts or circumstances of which could reasonably be expected to
give rise to such a proceeding. With respect to all other Losses in connection with Third Party Claims, where the indemnifying
Party has assumed the defense of the Third Party Claim in accordance with Section 9.4.1, the indemnifying Party shall have
authority to consent to the entry of any judgment, enter into any settlement or otherwise dispose of such Loss; provided
it obtains the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or
delayed). If the indemnifying Party does not assume and conduct the defense of a Third Party Claim as provided above, the Indemnified
Party may defend against such Third Party Claim; provided that the Indemnified Party shall not settle any Third Party Claim
without the prior written consent of the indemnifying Party, not to be unreasonably withheld, conditioned or delayed.

 

9.4.4. Cooperation.
Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, the Indemnified Party shall,
and shall cause each indemnitee to, cooperate in the defense or prosecution thereof and shall furnish such records, information
and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may
be reasonably requested in connection therewith. Such cooperation shall include access during normal business hours afforded to
the indemnifying Party to, and reasonable retention by the Indemnified Party of, records and information that are reasonably relevant
to such Third Party Claim, and making Indemnified Parties and other employees and agents available on a mutually convenient basis
to provide additional information and explanation of any material provided hereunder, and the indemnifying Party shall reimburse
the Indemnified Party for all its reasonable out-of-pocket expenses in connection therewith.

 

9.4.5. Expenses.
Except as provided above, the costs and expenses, including fees and disbursements of counsel, incurred by the Indemnified
Party in connection with any Third Party Claim shall be reimbursed on a Calendar Quarter basis by the indemnifying Party, without
prejudice to the indemnifying Party’s right to contest the Indemnified Party’s right to indemnification and subject
to refund in the event the indemnifying Party is ultimately held not to be obligated to indemnify the Indemnified Party.

 

9.5. Special,
Indirect, and Other Losses. EXCEPT FOR (I) RECKLESS OR WILLFUL MISCONDUCT, AND (II) A PARTY’S BREACH OF ITS OBLIGATIONS
UNDER ARTICLE 7, AND EXCEPT TO THE EXTENT ANY SUCH DAMAGES ARE REQUIRED TO BE PAID TO A THIRD PARTY AS PART OF A CLAIM
FOR WHICH A PARTY PROVIDES INDEMNIFICATION UNDER THIS ARTICLE 9, NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE
FOR INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS OR BUSINESS INTERRUPTION,
HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY OR OTHERWISE IN
CONNECTION WITH OR ARISING IN ANY WAY OUT OF THE TERMS OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, EVEN IF ADVISED
OF THE POSSIBILITY OF SUCH DAMAGE.

 

    27

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

9.6. Insurance.
Xynomic shall obtain and carry in full force and effect the minimum insurance requirements set forth herein. Such insurance
[****]

 

9.6.1. Types
and Minimum Limits. The types of insurance, and minimum limits shall be:

 

a) [****]

 

b) [****]

 

9.6.2. Certificates
of Insurance. Within thirty (30) days after the Effective Date, Xynomic shall provide Pharmacyclics with Certificates of Insurance
evidencing compliance with this Section. The insurance policies shall be [****]

 

ARTICLE
10

TERM AND TERMINATION

 

10.1. Term.

 

10.1.1. Term.
This Agreement shall commence on the Effective Date and, unless earlier terminated in accordance herewith, shall continue
in force and effect on a country-by-country basis until the date of expiration of the Royalty Term for the last Licensed Product
in such country (such period, the “Term”).

 

10.1.2. Effect
of Expiration of the Term. Following the expiration of the Term, the grants in Section 3.1 shall become non-exclusive,
fully-paid, royalty-free, and irrevocable.

 

10.2. Termination
for Material Breach.

 

10.2.1. Material
Breach. If either Party (the “Non-Breaching Party”) believes that the other Party (the “Breaching
Party”) has materially breached one or more of its material obligations under this Agreement, then the Non-Breaching
Party may deliver notice of such material breach to the Breaching Party (a “Default Notice”). If the Breaching
Party does not dispute that it has committed a material breach of one or more of its material obligations under this Agreement,
then if the Breaching Party fails to cure such breach [****] after receipt of the Default Notice, the Non-Breaching Party may
terminate this Agreement upon written notice to the Breaching Party. Disputes under this Section 10.2.1 shall be adjudicated pursuant
to the dispute resolution procedures set forth in Section 11.6.2.

 

10.2.2. Material
Breach Related to Diligence.  In addition to the termination rights set for in Section 10.2.1, if the material breach
and failure to cure in accordance with Section 10.2.1 is with respect to Xynomic’s Commercialization diligence obligations
under Section 2.4.2 or Xynomic’s Development diligence obligations under Section 2.1.2, as applicable, with
respect to any country or other jurisdiction in the Territory, Pharmacyclics shall have the right to terminate this Agreement
(i) solely with respect to such country or other jurisdiction, or (ii) in its entirety.

 

    28

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

10.3. Additional
Termination by Pharmacyclics.

 

10.3.1. In
the event that Xynomic or any of its Affiliates or Sublicensees, anywhere in the Territory, challenges any claim in an Pharmacyclics
Patent (or any corresponding worldwide family member) as invalid, unenforceable or otherwise not patentable or as not be infringed
by Xynomic’s activities absent the rights and licenses granted hereunder, such challenge shall be adjudicated via arbitration
in accordance with Schedule 11.6.2. Upon initiation of such arbitration, Pharmacyclics shall have the right to [****] terminate
this Agreement in its entirety, including the rights of any Sublicensees, upon written notice to Xynomic. Xynomic or any of its
Affiliates or Sublicensees shall not aid any Third Party in challenging any claim in an Pharmacyclics Patent (or any corresponding
worldwide family member) as invalid, unenforceable, or otherwise not patentable or as not be infringed by Xynomic’s activities
absent the rights and licenses granted hereunder, wherein such Third Party action may include any action at law or in equity or
before any administrative or regulatory body, including the U.S. Patent and Trademark Office or its foreign counterparts, any
claim, demand, action, or cause of action for declaratory relief, damages, or any other remedy, or for an enjoinment, injunction,
or any other equitable remedy, including any interference, re-examination, opposition, or any similar proceeding. Any such aid
by Xynomic or any of its Affiliates or Sublicensees to any Third Party shall be deemed a material breach, and Pharmacyclics shall
have the additional right to [****] terminate this Agreement in its entirety, including the rights of any Sublicensees, upon written
notice to Xynomic. If under Applicable Law Pharmacyclics cannot terminate this Agreement as provided in Section 10.3.1,
or Pharmacyclics decides not to terminate this Agreement pursuant to Section 10.3.1, then Xynomic shall continue to pay
Pharmacyclics according to Article 4 during and after such challenge, unless all claims in all Pharmacyclics Patents are
found invalid, unenforceable or otherwise not patentable; and if all claims in all Pharmacyclics Patents are found invalid, unenforceable
or otherwise not patentable, all payment obligations by Xynomic under Article 4 shall be [****].

 

10.3.2. Pharmacyclics
may terminate this Agreement in its entirety immediately if Xynomic, its Affiliates or its Sublicensees fails to conduct Development
or Commercialization of a Licensed Compound or Licensed Product reasonably and in good faith for [****] during the Term; provided
that such failure to conduct Development or Commercialization is not caused by Pharmacyclics’ failure to timely perform
its obligations hereunder. Disputes under this Section 10.3.2 shall be adjudicated pursuant to the dispute resolution procedures
set forth in Section 11.6.2.

 

10.4. Additional
Termination by Xynomic. Xynomic may terminate this Agreement in its entirety [****]

 

10.5. Termination
for Bankruptcy, Insolvency or Similar Event.   In the event that either Party (a) becomes the subject, whether voluntarily
or involuntarily, of any bankruptcy, insolvency, receivership or similar proceeding; (b) makes an assignment for the benefit of
creditors; (c) appoints or suffers appointment of a receiver or trustee over substantially all of its property; (d) proposes a
written agreement of composition, arrangement, readjustment or extension of its debts; (e) proposes or is a party to any dissolution
or liquidation or otherwise ceases to do business or winds up its affairs; (f) admits in writing its inability to meet its obligations
as they fall due in the general course; or (g) becomes subject to a warrant of attachment, execution, or distraint or similar
process against substantially all of its property, then the other Party may terminate this Agreement, in whole or in part and
in its sole discretion, effective immediately upon written notice to such other Party as specified in Section 11.7.2 of
this Agreement.

 

    29

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

10.6. Termination
in Entirety. 

 

10.6.1. In
the event of a termination of this Agreement in its entirety pursuant to (a) Xynomic’s material breach pursuant to Section
10.2, (c) Section 10.3, (d) termination for convenience by Xynomic pursuant to Section 10.4, or (e) termination
by Pharmacyclics pursuant to Section 10.5, then, to the extent permitted by Applicable Law:

 

a) all
rights and licenses granted by Pharmacyclics hereunder shall immediately terminate; and

 

b) Xynomic
shall, and hereby does effective as of the effective date of termination, grant Pharmacyclics [****].

 

c) Xynomic
shall, and hereby does effective as of the effective date of termination, assign to Pharmacyclics [****];

 

d) Xynomic
shall, and hereby does effective as of the effective date of termination, grant Pharmacyclics [****]; and

 

e) assign
to Pharmacyclics all right, title, and interest of Xynomic in each Product Trademark.

 

10.6.2. In
the event of a termination of this Agreement in its entirety due to Pharmacyclics’ s material breach pursuant to Section
10.2, then Xynomic may choose to continue to Exploit the Licensed Compounds and Licensed Products in the Field in the Territory
under all rights and licenses granted by Pharmacyclics hereunder; provided all payment obligations under Section 4 of this Agreement
shall be [****].

 

10.7. Termination
of Terminated Territory. In the event of a termination of this Agreement with respect to a Terminated Territory by Pharmacyclics
pursuant to Section 10.2.2 (but not in the case of any termination of this Agreement in its entirety), to the extent permitted
by Applicable Law:

 

a) all
rights and licenses granted by Pharmacyclics hereunder shall automatically be deemed to be amended to exclude, if applicable,
the right to make, use, market, promote, detail, distribute, import, sell, offer for sale, file any Drug Approval Application
for, or seek any Regulatory Approval for Licensed Products in such Terminated Territory;

 

b) Xynomic
shall, and hereby does effective as of the effective date of termination, grant Pharmacyclics [****]

 

c) Xynomic
shall, and hereby does effective as of the effective date of termination, assign to Pharmacyclics [****]

 

d) Xynomic
shall, and hereby does effective as of the effective date of termination, grant Pharmacyclics [****]; and

 

e) assign
to Pharmacyclics all right, title, and interest of Xynomic in each Product Trademark in such Terminated Territory.

 

    30

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

10.8. Transition
Assistance.

 

10.8.1. In
the event of termination of this Agreement in its entirety for any reason other than Pharmacyclics’ material breach pursuant
to Section 10.2, Xynomic shall, where permitted by Applicable Law:

 

a) [****]

 

b) [****]

 

c) unless
expressly prohibited by any Regulatory Authority, at Pharmacyclics’ written request, transfer control to Pharmacyclics of
all clinical studies being conducted by Xynomic as of the effective date of termination and continue to conduct such clinical
studies, at Xynomic’s cost, for up to six (6) months to enable such transfer to be completed without interruption of any
such clinical study; provided that [****]

 

d) [****]

 

e) [****]

 

f) [****]

 

g) [****]

 

10.8.2. In
the event of a termination of this Agreement with respect to a Terminated Territory by Pharmacyclics pursuant to Section 10.2.2
(but not in the case of any termination of this Agreement in its entirety), Xynomic shall:

 

a) [****]

 

b) [****]

 

c) [****]

 

d) [****]

 

e) [****]

 

10.9. Remedies.
Except as otherwise expressly provided herein, termination of this Agreement (either in its entirety or with respect to one
or more country(ies)) or other jurisdiction(s) in accordance with the provisions hereof shall not limit remedies that may otherwise
be available in law or equity.

 

10.10. Accrued
Rights; Surviving Obligations. Termination or expiration of this Agreement (either in its entirety or with respect to one
or more country(ies)) or other jurisdiction(s) for any reason shall be without prejudice to any rights that shall have accrued
to the benefit of a Party prior to such termination or expiration. Such termination or expiration shall not relieve a Party from
obligations that are expressly indicated to survive the termination or expiration of this Agreement. Without limiting the foregoing,
Section 3.3.2 (Termination of Sublicenses), Section 4.5 (Mode of Payments; Offsets), Section 4.6 (Withholding
Taxes), Section 4.7 (Indirect Taxes), Section 4.9 (Interest on Late Payments), Section 4.10 (Financial Records),
Section 5.1 (Ownership of Intellectual Property), Section 7.1 (Confidentiality Obligations), Section 7.2
(Permitted Disclosures) Section 7.4 (Public Announcements), Section 7.6 (Trade Secrets), Section 7.7 (Return
of Confidential Information), Section 7.8 (Survival), and ARTICLE 9 (Indemnity), ARTICLE 10 (Term and Termination)
and ARTICLE 11 (Miscellaneous) of this Agreement shall survive the termination or expiration of this Agreement for any
reason. If this Agreement is terminated with respect to the Terminated Territory but not in its entirety, then following such
termination the foregoing provisions of this Agreement shall remain in effect with respect to the Terminated Territory (to the
extent they would survive and apply in the event the Agreement expires or is terminated in its entirety), and all provisions not
surviving in accordance with the foregoing shall terminate upon termination of this Agreement with respect to the Terminated Territory
and be of no further force and effect (and for the avoidance of doubt all provisions of this Agreement shall remain in effect
with respect to all countries in the Territory other than the Terminated Territory).

 

    31

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

ARTICLE
11

MISCELLANEOUS

 

11.1. Force
Majeure. Neither Party shall be held liable or responsible to the other Party or be deemed to have defaulted under or breached
this Agreement for failure or delay in fulfilling or performing any term of this Agreement (other than an obligation to make payments)
when such failure or delay is caused by or results from events beyond the reasonable control of the non-performing Party, including
fires, floods, earthquakes, hurricanes, embargoes, shortages, epidemics, quarantines, war, acts of war (whether war be declared
or not), terrorist acts, insurrections, riots, civil commotion, strikes, lockouts, or other labor disturbances (whether involving
the workforce of the non-performing Party or of any other Person), acts of God or acts, omissions or delays in acting by any governmental
authority (except to the extent such delay results from the breach by the non-performing Party or any of its Affiliates of any
term or condition of this Agreement). The non-performing Party shall notify the other Party of such force majeure within [****]
after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration, and
any action being taken to avoid or minimize its effect. The suspension of performance shall be of no greater scope and no longer
duration than is necessary and the non-performing Party shall use commercially reasonable efforts to remedy its inability to perform.
Without limitation to the foregoing, to the extent that an event of force majeure continues for a period [****], the affected
Party shall promptly notify in writing the other Party of such event and [****] of the other Party’s receipt of such notice,
the Parties shall negotiate in good faith [****]

 

11.2. Export
Control. The Parties acknowledge that certain products, technology, technical data and software (including certain services
and training) and certain transactions may be subject to export controls and/or sanctions under Applicable Law (including the
Export Administration Regulations, 15 C.F.R. §§730-774, the International Traffic in Arms Regulations, 22 C.F.R. Parts
120-130, and sanctions programs implemented by the Office of Foreign Assets Control of the U.S. Department of the Treasury). Each
Party agrees that it will not export, directly or indirectly, any technical information acquired from the other Party under this
Agreement or any products using such technical information to a location or in a manner that at the time of export requires an
export license or other governmental approval, without first obtaining the written consent to do so from the appropriate agency
or other governmental entity in accordance with Applicable Law.

 

11.3. Assignment.
Except as expressly provided herein, without the prior written consent of the other Party, neither Party may sell, transfer,
assign, delegate, pledge, or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this
Agreement or any of its rights or duties hereunder to any Third Party, provided that (a) the assignment of this Agreement by operation
of law pursuant to a merger or consolidation of either Party with or into any Third Party shall, regardless of the identity of
the surviving entity to such merger or consolidation, not be deemed an assignment in violation of this Section 11.3, (b)
either Party, without such consent, may assign its rights and delegate its duties hereunder to an Affiliate thereof without obtaining
such consent, provided that the assigning Party agrees to remain primarily (and not secondarily or derivatively) liable for the
full and timely performance by such Affiliate of all its obligations hereunder, and (c) either Party, without such consent, may
assign its rights and delegate its duties hereunder to a successor entity or acquirer, provided that the assigning Party agrees
to remain primarily (and not secondarily or derivatively) liable for the full and timely performance by such assignee of all its
obligations hereunder. Any attempted assignment or delegation in violation of this Section 11.3 shall be void and of no
effect. All validly assigned and delegated rights and obligations of the Parties hereunder shall be binding upon and inure to
the benefit of and be enforceable by and against the successors and permitted assigns of Pharmacyclics or Xynomic, as the case
may be.

 

    32

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

11.4. Severability.
If any provision of this Agreement is held to be illegal, invalid, or unenforceable under any present or future law, and if
the rights or obligations of either Party under this Agreement will not be materially and adversely affected thereby, (i) such
provision shall be fully severable, (ii) this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable
provision had never comprised a part hereof, (iii) the remaining provisions of this Agreement shall remain in full force
and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom, and (iv) in
lieu of such illegal, invalid, or unenforceable provision, there shall be added automatically as a part of this Agreement a legal,
valid, and enforceable provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and
reasonably acceptable to the Parties. To the fullest extent permitted by Applicable Law, each Party hereby waives any provision
of law that would render any provision hereof illegal, invalid, or unenforceable in any respect.

 

11.5. Governing
Law, Jurisdiction and Service.

 

11.5.1. Governing
Law. This Agreement or the performance, enforcement, breach or termination hereof shall be interpreted, governed by and construed
in accordance with the laws of the State of New York, United States, excluding any conflicts or choice of law rule or principle
that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction; provided,
that all questions concerning the construction or effect of patent applications and patents shall be determined in accordance
with the laws of the country or other jurisdiction in which the particular patent application or patent has been filed or granted,
as the case may be. The Parties agree to exclude the application to this Agreement of the United Nations Convention on Contracts
for the International Sale of Goods.

 

11.5.2. Service.
Each Party further agrees that service of any process, summons, notice or document by registered mail to its address set forth
in Section 11.7.2 shall be effective service of process for any action, suit, or proceeding brought against it under
this Agreement in any such court, unless otherwise required by the Applicable Laws.

 

11.6. Dispute
Resolution. Except as provided in Section 4.10, if a dispute arises between the Parties in connection with or relating
to this Agreement (a “Dispute”), it shall be resolved pursuant to this Section 11.6.

 

11.6.1. General.
Any Dispute shall first be referred to the Senior Officers of the Parties, who shall confer in good faith on the resolution
of the issue. Any final decision mutually agreed to by the Senior Officers or their delegate and reduced to writing shall be conclusive
and binding on the Parties. If the Senior Officers or their delegates are not able to agree on the resolution of any such issue
within thirty (30) days after such issue was first referred to them, then either Party may, by written notice to the other Party,
elect to initiate an alternative dispute resolution (“ADR”) proceeding pursuant to the procedures set forth
in Section 11.6.2 for purposes of having the matter settled.

 

11.6.2. ADR.
Any ADR proceeding under this Agreement shall take place pursuant to the procedures set forth in Schedule 11.6.2.

 

    33

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

11.6.3. Adverse
Ruling. Any determination pursuant to this Section 11.6 that a Party is in material breach of its material obligations
hereunder shall specify a (nonexclusive) set of actions to be taken to cure such material breach, if feasible.

 

11.6.4. Interim
Relief and Tolling. Notwithstanding anything herein to the contrary, nothing in this Section 11.6 shall preclude
either Party from seeking interim or provisional relief, including a temporary restraining order, preliminary injunction or other
interim equitable relief concerning a Dispute following the ADR procedures set forth in Section 11.6.2, if necessary to
protect the interests of such Party. This Section shall be specifically enforceable.

 

11.7. Notices.

 

11.7.1. Notice
Requirements. Any notice, request, demand, waiver, consent, approval, or other communication permitted or required under this
Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if (i) delivered by hand
or sent by facsimile transmission (with transmission confirmed), (ii) by internationally recognized overnight delivery service
that maintains records of delivery, addressed to the Parties at their respective addresses specified in Section 11.7.2
or (iii) to such other address as the Party to whom notice is to be given may have provided to the other Party in accordance
with this Section 11.7.1. Such Notice shall be deemed to have been given as of the date delivered by hand or transmitted
by facsimile (with transmission confirmed) or on the second Business Day (at the place of delivery) after deposit with an internationally
recognized overnight delivery service. Any notice delivered by facsimile shall be confirmed by a hard copy delivered as soon as
practicable thereafter. This Section 11.7.1 is not intended to govern the day-to-day business communications necessary
between the Parties in performing their obligations under the terms of this Agreement.

 

11.7.2. Address
for Notice.

 

If
to Xynomic, to:

 

1910
Thomes Avenue Cheyenne, WY 8200 l Attention: CEO

Fax:
(650) 435-5938

 

copy
to:

 

Sidley
Austin LLP

Suite
2009, 5 Corporate Avenue

150
Hubin Road

Shanghai
200021, China

Attention:
Wendy Pan, Partner

Fax:
+86 (21) 5306 8966

 

If
to Pharmacyclics, to:

 

Pharmacyclics
LLC

999
E. Arques Avenue

Sunnyvale,
CA 94085

Attention:
President

 

copy
to:

 

AbbVie
Inc.

I
North Waukegan Road

North
Chicago, Illinois 60064 U.S.

Attention:
Executive Vice President, External Affairs, General Counsel and Corporate Secretary

Fax:
(847) 935-3294

 

    34

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

11.8. Entire
Agreement; Amendments. This Agreement and Schedules attached hereto, sets forth and constitutes the entire agreement and understanding
between the Parties with respect to the subject matter hereof and all prior agreements, understandings, promises, and representations,
whether written or oral, with respect thereto are superseded hereby (including that certain Confidential Disclosure Agreement
between Xynomic, Inc. and Pharmacyclics or their respective Affiliates effective as of August 30, 2016. Each Party confirms
that it is not relying on any representations or warranties of the other Party except as specifically set forth in this Agreement.
No amendment, modification, release, or discharge shall be binding upon the Parties unless in writing and duly executed by authorized
representatives of both Parties.

 

11.9. Waiver
and Non-Exclusion of Remedies. Any term or condition of this Agreement may be waived at any time by the Party that is entitled
to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on
behalf of the Party waiving such term or condition. The waiver by either Party hereto of any right hereunder or of the failure
to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach
or failure by such other Party whether of a similar nature or otherwise. The rights and remedies provided herein are cumulative
and do not exclude any other right or remedy provided by Applicable Law or otherwise available except as expressly set forth herein.

 

11.10. English
Language. This Agreement shall be written and executed in, and all other communications under or in connection with this Agreement
shall be in, the English language. Any translation into any other language shall not be an official version thereof, and in the
event of any conflict in interpretation between the English version and such translation, the English version shall control.

 

11.11. No
Benefit to Third Parties. Except as provided in ARTICLE 9, covenants and agreements set forth in this Agreement are
for the sole benefit of the Parties hereto and their successors and permitted assigns, and they shall not be construed as conferring
any rights on any other Persons.

 

11.12. Further
Assurance. Each Party shall duly execute and deliver, or cause to be duly executed and delivered, such further instruments
and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents, and
instruments, as may be necessary or as the other Party may reasonably request in connection with this Agreement or to carry out
more effectively the provisions and purposes hereof, or to better assure and confirm unto such other Party its rights and remedies
under this Agreement.

 

11.13. Relationship
of the Parties. It is expressly agreed that Pharmacyclics, on the one hand, and Xynomic, on the other hand, shall be independent
contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture, or agency, including
for all tax purposes. Neither Pharmacyclics, on the one hand, nor Xynomic, on the other hand, shall have the authority to make
any statements, representations, or commitments of any kind, or to take any action, which shall be binding on the other, without
the prior written consent of the other Party to do so. All persons employed by a Party shall be employees of such Party and not
of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and expense
of such Party.

 

    35

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

11.14. Counterparts;
Facsimile Execution. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. This Agreement may be executed by facsimile or electronically
transmitted signatures and such signatures shall be deemed to bind each Party hereto as if they were original signatures.

 

11.15. References.
Unless otherwise specified, (i) references in this Agreement to any Article, Section or Schedule shall mean references
to such Article, Section or Schedule of this Agreement, (ii) references in any Section to any clause are references to such
clause of such Section, and (iii) references to any agreement, instrument, or other document in this Agreement refer to such
agreement, instrument, or other document as originally executed or, if subsequently amended, replaced, or supplemented from time
to time, as so amended, replaced, or supplemented and in effect at the relevant time of reference thereto.

 

11.16. Construction.
Except where the context otherwise requires, wherever used, the singular shall include the plural, the plural the singular,
the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or).
Whenever this Agreement refers to a number of days, unless otherwise specified, such number refers to calendar days. The captions
of this Agreement are for convenience of reference only and in no way define, describe, extend, or limit the scope or intent of
this Agreement or the intent of any provision contained in this Agreement. The term “including,” “include,”
or “includes” as used herein shall mean including, without limiting the generality of any description preceding such
term. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction
shall be applied against either Party hereto. Each Party represents that it has been represented by legal counsel in connection
with this Agreement and acknowledges that it has participated in the drafting hereof. In interpreting and applying the terms and
provisions of this Agreement, the Parties agree that no presumption will apply against the Party which drafted such terms and
provisions.

 

[SIGNATURE
PAGE FOLLOWS]

 

    36

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

THIS
AGREEMENT IS EXECUTED by the authorized representatives of the Parties as of the date first written.

 

	PHARMACYCLICS LLC	 
	 	 
	By: 	/s/ Wulff-Erik von Borcke                  	 
	Name:	Wulff-Erik von Borcke	 
	Title: 	President	 
	 	 	 
	XYNOMIC
PHARMACEUTICALS, INC.	 
	 	 
	By:  	/s/ Yinglin Mark Xu	 
	Name: 	Yinglin Mark Xu	 
	Title: 	Chairman and Chief Executive Officer	 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE TO
LICENSE AGREEMENT]

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Schedule
1.40

 

Licensed Compounds

 

[****]

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Schedule
2.6

 

Development and Supply Agreements

 

[****]

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Schedule
2.8

 

Manufacturing Technology Transfer

 

[****]

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Schedule
7.4

 

Initial Press Release

 

Draft
News Release Regarding Licensing of Abexinostat (to be Issued in Both English and Chinese)

 

CHEYENNE,
Wyoming, United States, Feb. __, 2017 -- Xynomic Pharmaceuticals, Inc., an oncology drug research and development company,
today announced that it has acquired exclusive worldwide rights to develop, manufacture and commercialize Abexinostat, a potentially
best-in-class innovative HDAC inhibitor targeting hematological and solid tumors.

 

To
date a total of 14 Phase 1 and 2 clinical trials of Abexinostat in US, EU and Asia has already been completed, demonstrating best-in-class
efficacy and excellent safety profile. Xynomic aims to initiate Phase 3 registrational trials worldwide in Q3’2017.

 

“We
are honored and excited to forge this landmark agreement. We will deploy necessary resources and closely work with KOLs to expeditiously
bring this innovative drug to the market to address unmet medical needs.” said Mr. Y. Mark Xu, Co-Founder, Chairman and
CEO of Xynomic.

 

About
Xynomic Pharmaceuticals, Inc.

 

A
US company founded by seasoned biopharmaceutical executives and successful entrepreneurs, Xynomic focuses on in-licensing, developing
and commercializing oncology drug candidates in US, Asia, EU and rest of the world. The founding executives worked at leading
multinational biopharmaceutical companies (Schering, Eli Lilly, Merck and Roche) in R&D roles. The founders also had successful
entrepreneurial experiences including founding, building and exiting successful US-China biopharmaceutical companies.

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Schedule
8.2.7

 

Pharmacyclics Patents

 

[****]

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Schedule
11.6.2

 

ADR Procedures

 

Any
Dispute referred to ADR under this Agreement shall be resolved as follows:

 

		1.	To
begin an ADR proceeding, a Party shall provide written notice to the other Party of the Dispute to be resolved by ADR. Within
fourteen (14) days after its receipt of such notice, the other Party may, by written notice to the Party initiating the arbitration,
add additional issues to be resolved within the same ADR.

 

		2.	Within
twenty-one (21) days following the initiation of the ADR proceeding, the Parties shall select a mutually acceptable independent,
impartial and conflicts-free neutral to preside in the resolution of all issues in this ADR proceeding. If the Parties are unable
to agree on a mutually acceptable neutral within such period, each Party will select one (1) independent, impartial and conflicts-free
neutral and those two (2) neutrals will select a third independent, impartial and conflicts-free neutral within ten (10) days
thereafter (such neutral(s), the “Neutral”). None of the neutrals selected may be current or former employees,
officers or directors of either Party or its Affiliates.

 

		3.	No
earlier than twenty-eight (28) days or later than fifty-six (56) days after selection, the Neutral shall hold a hearing to resolve
each of the issues identified by the Parties. The ADR proceeding shall take place at a location agreed upon by the Parties. If
the Parties cannot agree, the Neutral shall designate a location other than the principal place of business of either Party or
any of their Affiliates.

 

		4.	At
least seven (7) days prior to the hearing, each Party shall submit the following to the other Party and the Neutral:

 

(a)
 a copy of all exhibits on which such Party intends to rely in any oral or written presentation
to the Neutral;

 

(b)
 a list of any witnesses such Party intends to call at the hearing, and a short summary
of the anticipated testimony of each witness;

 

(c)
 a proposed ruling on each issue to be resolved, together with a request for a specific
damage award or other remedy for each issue. The proposed ruling shall not contain any recitation of the facts or any legal arguments,
and the proposed remedy shall not include any punitive damages. The proposed ruling and the proposed remedy collectively shall
not exceed one (1) page per issue.

 

(d)
 a brief in support of such Party’s proposed rulings and remedies; provided,
that the brief shall not exceed twenty (20) pages. This page limitation shall apply regardless of the number of issues raised
in the ADR proceeding.

 

Except
as expressly set forth in subparagraphs 4(a) - 4(d), no discovery shall be required or permitted by any means, including depositions,
interrogatories, requests for admissions, or production of documents.

 

     

    ****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		5.	The
                                         hearing shall be conducted on two (2) consecutive days and shall be governed by the following
                                         rules:

 

(a)
 Each Party shall be entitled to five (5) hours of hearing time to present its case.
The Neutral shall determine whether each Party has had the five (5) hours to which it is entitled.

 

(b)
 Each Party shall be entitled, but not required, to make an opening statement, to present
regular and rebuttal testimony, documents, or other evidence, to cross-examine witnesses, and to make a closing argument. Cross-examination
of witnesses shall occur immediately after their direct testimony, and cross-examination time shall be charged against the Party
conducting the cross-examination.

 

(c)
 The Party initiating the ADR shall begin the hearing and, if it chooses to make an opening
statement, shall address therein not only issues it raised but also any issues raised by the responding Party. The responding
Party, if it chooses to make an opening statement, also shall address all issues raised in the ADR. Thereafter, the presentation
of regular and rebuttal testimony and documents, other evidence, and closing arguments shall proceed in the same sequence.

 

(d)
 Except when testifying, witnesses shall be excluded from the hearing until closing arguments.

 

(e)
 Settlement negotiations, including any statements made therein, shall not be admissible
under any circumstances. Affidavits prepared for purposes of the ADR hearing also shall not be admissible. As to all other matters,
the Neutral shall have sole discretion regarding the admissibility of any evidence.

 

		6.	Within
                                         seven (7) days following completion of the hearing, each Party may submit to the other
                                         Party and the Neutral a post-hearing brief in support of its proposed rulings and remedies;
                                         provided, that such brief shall not contain or discuss any new evidence and shall
                                         not exceed ten (10) pages. This page limitation shall apply regardless of the number
                                         of issues raised in the ADR proceeding.

 

		7.	The
                                         Neutral shall rule on each disputed issue within fourteen (14) days following completion
                                         of the hearing. Such ruling shall adopt in its entirety the proposed ruling and remedy
                                         of one (1) of the Parties on each disputed issue but may adopt one (1) Party’s
                                         proposed rulings and remedies on some issues and the other Party’s proposed rulings
                                         and remedies on other issues. The Neutral shall not issue any written opinion or otherwise
                                         explain the basis of the ruling.

 

		8.	The
                                         Neutral shall be paid a reasonable fee plus expenses. These fees and expenses, along
                                         with the reasonable legal fees and expenses of the prevailing Party (including all expert
                                         witness fees and expenses), the fees and expenses of a court reporter, and any expenses
                                         for a hearing room, shall be paid as follows:

 

(a)
 If the Neutral rules in favor of one (1) Party on all disputed issues in the ADR, the
losing Party shall pay one hundred percent (100%) of such fees and expenses.

 

(b)
If the Neutral rules in favor of one (1) Party on some issues and the other Party on other issues, the Neutral shall issue with
the rulings a written determination as to how such fees and expenses shall be allocated between the Parties. The Neutral shall
allocate fees and expenses in a way that bears a reasonable relationship to the outcome of the ADR, with the Party prevailing
on more issues, or on issues of greater value or gravity, recovering a relatively larger share of its legal fees and expenses.

 

		9.	The
                                         rulings of the Neutral and the allocation of fees and expenses shall be binding, non-reviewable,
                                         and non-appealable, and may be entered as a final judgment in any court having jurisdiction.

 

		10.	Except
                                         as provided in paragraph 9 or as required by law, the existence of the Dispute, any settlement
                                         negotiations, the ADR proceeding, any submissions (including exhibits, testimony, proposed
                                         rulings, and briefs), and the rulings shall be deemed to be Confidential Information
                                         of both Parties. The Neutral shall have the authority to impose sanctions for unauthorized
                                         disclosure of Confidential Information.

 

		11.	All
                                         ADR proceedings shall be conducted in the English language.

 

Each
Party shall have the right to be represented by counsel in all aspects of any ADR proceedings.Exhibit 10.15

 

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

Commission. Confidential
Treatment Requested Under

17 C.F.R. Section  230.406

 

 

 

PATENT ASSIGNMENT AND LICENSING AGREEMENT

 

 

 

[****]

 

by and between

 

BOEHRINGER
INGELHEIM INTERNATIONAL GMBH

 

hereinafter “BII”

 

and

 

Xynomic
pharmaceuticalS, INC.

 

hereinafter “Xynomic”

 

 

 

 

 

 

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

LIST
OF EXHIBITS

 

	Exhibit 1.5	Assigned Patents 
	Exhibit 1.25	Development Compound
	Exhibit 2.1	Assignment Form
	Exhibit 3	Transferred Data
	Exhibit 4.2	Xynomic BI 882370 Development Plan

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

PATENT
ASSIGNMENT AND LICENSING AGREEMENT

 

This Patent Assignment and Licensing Agreement
(“Agreement”) is entered into on the date of last signature hereto (“Effective Date”)

 

by and between

 

Boehringer Ingelheim International GmbH
(“BII”), a German limited liability company, with offices at Binger Straße 173, 55216 Ingelheim am Rhein,
Germany; and

 

Xynomic Pharmaceuticals, Inc. (“Xynomic”),
a Wyoming corporation with offices at 1910 Thomes Avenue, Cheyenne, WY 82001.

 

BII
and Xynomic may be referred to as individually a “Party”,
and collectively the “Parties”.

 

RECITALS

 

		A.	WHEREAS, BII is a global pharmaceutical company within
the Boehringer Ingelheim group of companies;

 

		B.	WHEREAS, XYNOMIC is a biotech company focused on
the development of innovative treatments for human diseases;

 

		C.	WHEREAS, BII has terminated its activities in relation to the B-raf serine/threonine protein kinases
inhibitor program (the “Development Program”) for the treatment of oncological diseases and reallocating its
R&D and other personnel working on this program. Accordingly, BII is willing to assign and transfer to XYNOMIC
its technology (including all Assigned Patents) related to the Development Program and to grant to XYNOMIC
under the Licensed Know-how an exclusive, worldwide, royalty-bearing license to Develop, Manufacture and Commercialize Products
in the Field during the Term, and XYNOMIC is willing to further Develop, Manufacture
and Commercialize Products in the Field during the Term (terms as defined below) and to make certain upfront, milestone and royalty
payments in exchange for such transfer and license.

 

NOW, THEREFORE, in consideration
of the mutual covenants, agreements and stipulations set forth herein, the receipt and legal sufficiency of which are hereby mutually
acknowledged, the Parties hereby agree as follows:

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.	DEFINITIONS.

 

For purposes
of this Agreement, the following capitalized terms shall have the following meanings, whether used in the singular or plural:

 

		1.1	“Accounting
Standards” shall mean the maintenance of records and books of accounts in accordance with
International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP) of an applicable jurisdiction,
which standards or principles (as applicable) are currently used at the relevant time, and consistently applied by the applicable
Party.

 

		1.2	“Affiliate”
shall mean, with respect to a Party, any Person which, at the time such determination is being made, is controlled by, controlling
or under common control with such Party. As used in this definition, the term “control”, whether used as a noun or
verb, refers to the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies
of a Person, whether through the ownership of voting rights (e.g., fifty per cent (50%) or more of the equity, the ordinary voting
power or the general partnership interest), by contract or otherwise. 

 

		1.3	“Agreement”
shall have the meaning given in the Preamble.

 

		1.4	“Applicable Laws”
shall mean all applicable provisions of all statutes, laws, rules, regulations, administrative codes, ordinances, decrees, orders,
decisions, guidance documents, injunctions, awards, judgments, and permits, including licenses of or from Regulatory Authorities
and any rules, regulations, guidelines or other requirements of national and international patent offices and Regulatory Authorities,
each as in effect from time to time. 

 

		1.5	“Assigned Patents”
shall mean the Patents listed in Exhibit 1.5.

 

		1.6	“BII Claim”
shall have the meaning given in Section 12.2.

 

		1.7	“BII Losses”
shall have the meaning given in Section 12.2.

 

		1.8	“BII Party”
shall have the meaning given in Section 12.2.

 

		1.9	“Breaching Party”
shall have the meaning given in Section 13.1.3.1.

 

		1.10	“Business Day”
shall mean any day other than Saturday, Sunday or any other day on which commercial banks in Ingelheim am Rhein, Germany or Wyoming,
United States of America are authorized or required by law to remain closed.

 

		1.11	“Calendar Quarter”
shall mean a period of three calendar months ending on 31 March, 30 June, 30 September or 31 December in any calendar year.

 

    2

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.12	“Calendar Year”
shall mean a one-year period beginning on January 1st and ending on December 31st.

 

		1.13	“CFDA” shall
mean China Food and Drug Administration and any successor agency or authority having substantially the same function.

 

		1.14	“China”
means the People’s Republic of China, for the purpose of this Agreement, excluding Hong Kong, Macao and Taiwan.

 

		1.15	“CMO” shall
mean a contract manufacturing organization.

 

		1.16	“Combination Product”
shall have the meaning given in Section 1.44.

 

		1.17	“Commercialization”
shall mean any and all activities directed to the preparation for sale of, offering for sale of, or sale of the Product, including
activities related to marketing, promoting, distributing, importing and exporting the Product, and interacting with Regulatory
Authorities regarding any of the foregoing. For the avoidance of doubt, “Commercialization”
shall not include the Manufacture of Product. When used as a verb, to “Commercialize”
and “Commercializing” shall mean to engage in Commercialization, and “Commercialized”
has a correlative meaning.

 

		1.18	“Commercially Reasonable Efforts”
shall mean, with respect to the efforts to be expended by, and the resources to be employed by, a Party with respect to any objective,
the reasonable, diligent and good faith efforts, and commercially reasonably financial investment to accomplish such objective
as such Party or a company with a corresponding industry focus, size and global reach would normally use to accomplish a similar
objective under similar circumstances. It is understood and agreed that with respect to the Development and Commercialization of
Product by XYNOMIC, such efforts shall be substantially equivalent to those efforts
and resources commonly used by XYNOMIC or a company with a corresponding industry
focus, size and global reach, for pharmaceutical development candidates or products owned by it or to which it has rights, which
development candidate or product is at a similar stage in its development or product life and is of similar market potential, taking
into account all scientific, commercial and other factors that XYNOMIC or a company
with a corresponding industry focus, size and global reach would take into account, including efficacy, safety, expected and actual
cost and time to develop, expected and actual profitability, approved labelling, the competitiveness of alternative products in
the marketplace, the expected and actual market exclusivity (including patent and other proprietary position and regulatory exclusivity)
of the Product, the expected and actual amounts of marketing and promotional expenditures and the likelihood of receipt of a Regulatory
Approval given the Regulatory Authority involved.

 

		1.19	“Competing Product”
shall have the meaning given in Section 5.3.

 

		1.20	“Compounds”
shall mean [****]

 

		1.21	“Confidential Information”
shall mean all information non publicly available, including:

 

		(a)	the existence and terms of this Agreement and any
discussions and negotiations in relation to the subject matter of this Agreement;

 

    3

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		(b)	the Licensed Know-How and Results; and

 

		(c)	Development Data relating to the Compounds and Products, the Field, or the business, affairs, research
and development activities, results of pre-clinical and clinical trials, national and multinational regulatory proceedings and
affairs, finances, plans, contractual relationships and operations of the Parties including reports and other information provided
pursuant to Section 6 (Reporting).

 

		1.22	“Control”
or “Controlled” shall mean with respect to the subject item or right, the
ability (whether by ownership, license or otherwise, other than pursuant to this Agreement) of a Party to grant to the other Party
access or a license as provided herein under such item or right without violating the terms of any agreement or other arrangement
with any Third Party.

 

		1.23	“CRO” shall
mean a contract research organization.

 

		1.24	“Development”
shall mean all research, non-clinical and clinical testing and drug development activities conducted in respect of the Compounds
and Products, including those necessary or reasonably useful or otherwise requested or required by a Regulatory Authority as a
condition or in support of obtaining or maintaining Regulatory Approvals and to successfully Develop, Manufacture and Commercialize
the Products for use in the Field. “Development” shall include test method development and stability testing, formulation
development, delivery system development, non-clinical testing, mechanism studies, toxicology, pharmacokinetics, clinical trials,
quality assurance/quality control, regulatory affairs activities, statistical analysis and report writing, submission of documents
for obtaining Regulatory Approvals, market research and pharmacoeconomic studies. 

 

		1.25	“Development Compounds”
shall mean the B-raf inhibitor compounds, [****]

 

		1.26	“Development Data”
shall mean any non-clinical or clinical data relating to the Development or the use of the Compounds and Products in the Field,
including but not limited to results, pre-clinical, clinical, safety, manufacturing and quality control data and information (in-cluding
trial designs and protocols), registration (IND/regulatory) dossiers, assay and biological methodology, any reports of non-clinical
studies and clinical trials, and all other documentation containing or embodying such data.

 

		1.27	“Development Plan”
shall have the meaning given in Section 4.2.

 

		1.28	“Development Program”
shall have the meaning given in the Preamble.

 

		1.29	“Disclosing Party”
shall have the meaning given in Section 11.1.

 

		1.30	“Effective Date”
shall have the meaning given in the Preamble.

 

		1.31	“EMA” shall
mean the European Medicines Agency and any successor agency or authority having substantially the same function.

 

    4

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.32	“Family Compound”
shall mean any compound covered by or disclosed in the Assigned Patents.

 

		1.33	“FDA” shall
mean the United States Food and Drug Administration and any successor agency or authority having substantially the same function.

 

		1.34	“FFDCA”
means the United States Federal Food, Drug, and Cosmetic Act, 21 U.S.C. §301 et seq., as amended from time to time,
together with any rules, regulations and requirements promulgated thereunder (including all additions, supplements, extensions,
and modifications thereto).

 

		1.35	“Field”
shall mean the diagnosis, prevention or treatment of any and all diseases or conditions in humans or animals.

 

		1.36	“First Commercial Sale”
shall mean, on a country-by-country and Product-by-Product basis, the first sale by XYNOMIC, its Affiliates or Sublicensees in
an arm’s length transaction of such Product to a Third Party other than a Sublicensee in such country in exchange for cash
(or some equivalent to which value can be assigned) after Marketing Authorization for such Product has been granted in such country.
XYNOMIC providing access to Products in a country prior to receipt of the Marketing Authorization for such Product in such country,
for carrying out approved “treatment IND programmes,” “named patient programmes,” and “compassionate
use programmes” shall not be construed as a First Commercial Sale.

 

		1.37	“IND” means
an application filed with a Regulatory Authority for authorization to commence human clinical studies, including (a) an Investigational
New Drug Application as defined in the FFDCA or any successor application or procedure filed with the FDA, (b) any clinical trial
application or other equivalent of a United States IND in other countries or regulatory jurisdictions, and (c) all supplements,
amendments, variations, extensions and renewals thereof that may be filed with respect to the foregoing.

 

		1.38	“Intellectual
Property” shall mean any
and all Know How (including copyright and other rights therein), Patents, trademarks, design rights and other rights in designs,
copyrights, database rights, and all other intellectual property rights in each case whether registered or unregistered, and including
applications for the grant of any such rights and rights of renewal in respect of any such rights, and all other forms of protection
having similar or equivalent effect in any part of the world.

 

		1.39	“Invoice”
means an invoice sent by BII to XYNOMIC with respect to any payment due hereunder.

 

		1.40	“Know-How”
shall mean all technical, scientific, and other know-how and information, trade secrets, knowledge, technology, means, methods,
processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical assistance, designs,
drawings, assembly procedures, computer programs, apparatuses, specifications, data, results and other materials, including: biological,
chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing
and quality control data and information and materials, including study designs and protocols; assays; and biological methodology;
in each case solely to the extent confidential and, proprietary and in written, electronic or any other form.

 

    5

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.41	“LIBOR”
means the London Interbank Offered Rate for deposits in United States Dollars having a maturity of one month published by the British
Bankers’ Association, as adjusted from time to time on the first London business day of each month.

 

		1.42	“Licensed Know-How”
shall mean all Know-How [****]

 

		1.43	“Manufacture”
shall mean all activities related to the synthesis, making, production, processing, purifying, formulating, filling, finishing,
packaging, labeling, shipping and holding of the Product, or any intermediate thereof, including process development, process qualification
and validation, scale-up, pre-clinical, clinical and commercial production and analytic development, product characterization,
stability testing, quality assurance, and quality control. For clarity, Manufacturing does not include Commercialization.

 

		1.44	“Marketing Authorization”
shall mean the Regulatory Approval which is required to Commercialize a Product in a particular country or region in the Territory,
including, where applicable, (a) pricing or reimbursement approval in such country or region, (b) pre- and post-approval
marketing authorizations (including any prerequisite Manufacturing approval or authorization related thereto), and (c) labeling
approval. For the avoidance of doubt, Market Authorization shall include a provisional or conditional approval provided and as
long as it grants the right to Commercialize a Product.

 

		1.45	“Net Sales”
means [****]

 

		1.46	“Non-Breaching Party”
shall have the meaning given in Section 13.1.3.1.

 

		1.47	“Patents”
shall mean (a) all national, regional and international patents and patent applications (including provisional patent applications)
worldwide; (b) all patent applications filed either from such patents, patent applications or provisional applications or from
an application claiming priority from either of these, including divisions, continuations, continuations-in-part, provisionals,
converted provisionals and continued prosecution applications; (c) any and all patents that have issued or in the future issue
from the foregoing patent applications ((a) and (b)), including utility models (Gebrauchsmuster), petty patents and design
patents and certificates of invention; (d) any and all extensions or restorations by existing or future extension or restoration
mechanisms, including revalidations, reissues, re-examinations, extensions (including any patent term adjustments, patent term
extensions, supplementary protection certificates and the like) of the foregoing patents or patent applications ((a), (b), and
(c)); and (e) any similar rights, including so-called pipeline protection or any importation, revalidation, confirmation or
introduction patent or registration patent or patent of additions to any of such foregoing patent applications and patents.

 

		1.48	“Person” means any corporation,
limited or general partnership, limited liability company, joint venture, trust, unincorporated association, governmental body,
authority, bureau or agency, any other entity or body, or an individual.

 

    6

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.49	“Phase I Clinical Trial”
shall mean a study of a Product in human volunteers or patients principally for determining initial tolerance, safety and/or pharmacokinetic
(including, inter alia, drug-drug interactions and food effects) as well as first preliminary efficacy information in single
dose, single ascending dose, multiple dose and/or multiple ascending dose regimens.

 

		1.50	“Phase II Clinical Trial” means a human clinical
trial conducted in any country that meets the requirements of 21 CFR §312.21(b). By way of example and not limitation, a Phase
II Clinical Trial is usually a well controlled clinical study in patients designed to assess early efficacy (“proof-of-concept”)
or to gain dose-ranging information about an investigational drug, along with product safety data. For clarity, a Phase II Clinical
Trial may also represent the second part of a combined Phase Ib/II clinical study or the initial part of a combined Phase II/III
clinical study.

 

		1.51	“Phase III Clinical Trial”
shall mean, with respect to the United States, any human clinical trial, that, if the defined end-points are met, is intended to
be a pivotal trial for obtaining Regulatory Approval in the indication being studied or to otherwise establish safety and efficacy
in patients with the indication being studied for purposes of filing for Marketing Authorization with the FDA as required under
21 C.F.R. §312.21(c), or, with respect to a jurisdiction other than the United States, an equivalent clinical study. In the
event that a human clinical trial that would otherwise meet the definition of a Phase II Clinical Trial would, if the defined end-points
are met, be sufficient to obtain Marketing Authorization in the indication being studied then, for the purposes of this Agreement,
such trial shall be considered a Phase III Clinical Trial. For clarity, a Phase III Study may also represent the second part of
a combined Phase IIb/III clinical study.

 

		1.52	“PMDA” shall
mean the Pharmaceuticals and Medical Devices Agency of Japan and any successor agency or authority having substantially the same
function.

 

		1.53	“Product”
shall mean any product containing a Development Compound or any Family Compound; for clarification, all Products containing the
same Compound shall be considered one Product.

 

		1.54	“Receiving Party”
shall have the meaning given in Section 11.1.

 

		1.55	“Recognized Agent”
shall mean any Third Party who distributes products directly to customers in countries where XYNOMICS has no Affiliate or Sublicensee.

 

		1.56	“Regulatory Approval(s)”
shall mean and include any license, permit, authorization and approval of, and registration, filing and other notification to,
any Regulatory Authority within the Territory, which grant the approval to Develop, Manufacture and/or Commercialize a Product
in a particular country or region in the Territory. For the avoidance of doubt, Regulatory Approvals shall include a provisional
or conditional approval provided and as long as it grants the right to Develop, Manufacture and Commercialize a Product. Regulatory
Approvals shall include Marketing Authorizations.

 

		1.57	“Regulatory Authority”
shall mean any national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or
other governmental entity in each country or jurisdiction in the Territory involved in the reviewing, granting or revoking of Regulatory
Approvals for the Products. Regulatory Authorities include, without limitation, FDA, EMA, CFDA and PMDA.

 

    7

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.58	“Results”
shall have the meaning given in Section 10.1. 

 

		1.59	“Royalties”
shall have the meaning given in Section 8.2.

 

		1.60	“Royalty Period”
shall have the meaning given in Section 8.7(iv).

 

		1.61	“Royalty Term”
shall have the meaning given in Section 8.4.

 

		1.62	“Senior Managers”
shall mean in the case of BII, a senior representative of BII for the then current phase of the Product, and
in the case of XYNOMIC, Y. Mark Xu, the Chief Executive Officer.

 

		1.63	“Sublicensee”
shall mean any Third Party licensee (aside from a Party’s Affiliates and any Third Party contractors used by a Party in the Development,
Manufacture or Commercialization of the applicable Compound or Product on a Party’s behalf) which obtains rights to use the Assigned
Patents, Licensed Know-How or Results for the Development, Manufacture and/or Commercialization of Compounds and/or Products, regardless
of whether such license is granted by a Party, its Affiliates, its licensees or any Sublicensee.

 

		1.64	“Tax Law”
shall mean any applicable law, rule or regulation of any government entity, or judgment, order, writ, decree, permit or license
of any government entity of competent jurisdiction that, in each case, relates to taxes or other similar assessments or charges
of any kind whatsoever (including, but not limited to, withholding on amounts paid to any person).

 

		1.65	“Term” shall
have the meaning given in Section 13.1.1.

 

		1.66	“Territory”
shall mean the entire world.

 

		1.67	“Third Party”
means an entity other than (i) BII or any of its Affiliates or (ii) XYNOMIC or any of its Affiliates or Sublicensees.

 

		1.68	“Third Party License”
shall mean a license with respect to the Assigned Patents or Licensed Know-How granted by BII to a Person other than XYNOMIC or
its Affiliates. 

 

		1.69	“United States”
or “US” means the United States of America and its territories and possessions
(including the District of Columbia and Puerto Rico).

 

		1.70	“Upfront Payment”
shall have the meaning given in Section 8.1(a).

 

		1.71	“Valid Claim”
shall mean with respect to a particular country, and in each case to the extent contained within an Assigned Patent, any claim
of an issued and unexpired patent in such country that (i) has not lapsed or been revoked, has not been held unenforceable or invalid
by a decision of a court or governmental agency of competent jurisdiction, which decision is un-appealable or un-appealed within
the time allowed for appeal; and (ii) has not been abandoned, disclaimed, denied or admitted to be invalid or unenforceable
through reissue, post grant review or disclaimer or otherwise in such country. 

 

    8

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		1.72	“Xynomic
Party” shall have the meaning given in Section 12.2.

 

		1.73	“Xynomic
Losses” shall have the meaning given in Section 12.2.

 

		1.74	“Xynomic
Claim” shall have the meaning given in Section 12.2.

 

The word
“including” or any variation thereof means “including without limitation” or any variation thereof
and shall not be construed to limit any general statement which it follows to the specific or similar items or matters immediately
following it.

 

		2.	ASSIGNMENT AND
LICENSE.

 

		2.1	Assignment. Conditional upon receipt by BII of the Upfront
Payment made by XYNOMIC as agreed upon in Section 8.1 below, BII assigns and transfers
to XYNOMIC the Assigned Patents, and XYNOMIC
accepts such assignment and transfer. An Assignment Form is attached to this Agreement as Exhibit 2.1. XYNOMIC
shall register and record the transfer of ownership right of the Assigned Patents with the competent patent offices worldwide,
at its own cost and BII shall provide, and shall cause its Affiliates and agents to provide, all assistances reasonably requested
by or on behalf of XYNOMIC for registering or recording the foregoing transfer.

 

BII
retains an exclusive, cost-free, perpetual, worldwide, transferrable and sublicenseable (in multiple tiers) right to use the Assigned
Patents solely for BII’s and its Affiliates’ internal preclinical research purposes. For clarity, BII shall not transfer
or sublicense its right to use any of the Assigned Patents to any Person that is not an Affiliate of BII for any purpose.

 

		2.2	License Grant. BII hereby grants to XYNOMIC,
during the term of this Agreement and in accordance with the terms and conditions of this Agreement, and XYNOMIC
hereby accepts, an exclusive (subject to BII’s right to use the Licensed Know-How for BII’s and its Affiliates’
internal preclinical research purposes), royalty-bearing, non-transferable license to the Licensed Know-How, to Develop, Manufacture
and Commercialize Products in the Field in the Territory. 

 

		2.3	Right to Sublicense. XYNOMIC
is entitled to sublicense its rights under Section 2.2, to any of its Affiliates, provided that
it shall inform BII of such sublicense. Any sublicense to a Third Party by XYNOMIC
of its rights with respect to US or China under Section 2.2 requires the prior written consent of BII, which consent shall not
be unreasonably withheld, conditioned or delayed. Any sublicense is subject to the sublicense agreement containing terms and conditions
that are not inconsistent with those contained in this Agreement, and shall include, inter alia, provisions regarding confidentiality,
indemnification, audit, record-keeping, termination and consequences of termination for BII’s protection that are consistent with
the corresponding terms and conditions provided herein. XYNOMIC shall remain liable
to BII for all obligations under this Agreement, including its obligation to pay any amounts due on account of sales or other disposition
of Compounds and Products by Sublicensees. XYNOMIC shall send to BII a copy of the
signed sublicensing agreement within [****] after its execution; subject to reasonable
redaction of confidential information. The Parties acknowledge that any and all information provided by XYNOMIC
to BII under this Section 2.3 shall be deemed to be Confidential Information of XYNOMIC
and shall be subject to the terms of Section 11.

 

    9

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		2.4	Termination of Sublicenses. If this Agreement is terminated [****]
the Parties agree that each Sublicensee’s license [****] shall
survive if the relevant Sublicensee agrees in writing to be bound by all of the terms of this Agreement [****].
Upon BII’s request, BII and such Sublicensee shall formalize such surviving sublicense by executing a direct license under
the Licensed Know-How, [****]

 

		2.5	No Additional Rights. Nothing in this Agreement shall be deemed
or implied to be, and the Parties disclaim all implied rights to, the grant by BII to XYNOMIC
of any right, title or interest in any product, Intellectual Property, any formulation technology, operating procedures, marketing
materials or strategies, intangibles, material or proprietary rights of BII, except as are expressly set forth in this Agreement
or provided in the Assignment Form. 

 

		3.	TECHNOLOGY AND DATA TRANSFER.

 

		3.1	Data Transfer. [****] BII shall transfer to XYNOMIC an
electronic data package relating to Development Compounds [****]

 

		3.2	Know-How Transfer Assistances. [****] BII shall answer
questions and provide clarifications to XYNOMIC or its designee on any Know-How transferred to XYNOMIC or its designee pursuant
to Section 3.1 above or otherwise assist them to complete the Know-How transfer [****] BII
shall answer questions and provide clarifications to XYNOMIC or its designee on any Know-How transferred to XYNOMIC or its designee
pursuant to Section 3.1 above and BII will charge a fee for providing such assistances at a fixed hourly rate of [****]

 

		4.	DEVELOPMENT

 

		4.1	Diligence. XYNOMIC shall
be solely responsible for, and - subject to the requirements in this Agreement - has full decisional power with respect to, the
Development of Products in the Field in the Territory, and XYNOMIC shall use Commercially Reasonable Efforts to Develop the Products
in the Field in the Territory. XYNOMIC shall bear all costs related to such Development,
including the Manufacture of Compounds and Products required for such Development, in accordance with this Section 4. XYNOMIC
shall perform its obligations and the defined Development activities in a timely manner and in accordance with Applicable Laws.

 

		4.2	Development Plan. The Development activities shall be performed
by XYNOMIC and/or a CRO or CMO in accordance with the development plan in Exhibit
4.2 (“Development Plan”). XYNOMIC
shall use its Commercially Reasonable Efforts to perform the Development within the timelines set forth in the Development Plan.
The Parties shall agree to good faith amendments to the Development Plan in light of any business, strategic, technical, safety,
efficacy, regulatory or commercial reasons.

 

    10

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		4.3	Subcontractors. The Parties agree that XYNOMIC
has the right to engage CROs and CMOs to take over certain Development activities. XYNOMIC
shall inform BII in writing promptly after the engagement of a CRO or CMO. All costs of the CROs and CMOs relating to the Development
of the Compounds and the Products shall be borne by XYNOMIC.

 

		4.4	Development Milestones. XYNOMIC
shall use its Commercially Reasonable Efforts to achieve or cause its Sublicensees to achieve
the following development milestones for pre-clinical research and clinical Development (each a “Development Milestone”):

 

		(a)	[****]

 

		(b)	[****]

 

		(c)	[****]

 

		(d)	[****]

 

		(e)	[****]

 

		(f)	[****] 

 

		5.	COMMERCIALIZATION

 

		5.1	Diligence Obligations. XYNOMIC
shall be solely responsible for the Commercialization of Products in the Field in the Territory,
and will use its Commercially Reasonable Efforts to Commercialize the Products in the Field. Without limiting the generality of
the Commercially Reasonable Efforts obligations under this Section 5.1, XYNOMIC
shall

 

		(a)	when appropriate, based on satisfactory data obtained during
the Development, use its Commercially Reasonable Efforts to secure all required Marketing Authorizations and reimbursement authorizations
[****];

 

		(b)	be responsible for timely filing all applications, reports and other documents required to be filed
in order to obtain and maintain any Marketing Authorizations for Products;

 

		(c)	use its Commercially Reasonable Efforts to make the First Commercial Sale [****];
and

 

		(d)	conduct post-marketing surveillance studies (Phase 4), if required;

 

    11

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		5.2	Costs. XYNOMIC shall
bear any and all costs regarding the Commercialization of the Compound and Products in the Field, including the costs of its own
commercial supplies of and the post-marketing surveillance studies (Phase 4).

 

		5.3	Competing Products. In the event XYNOMIC,
any of its Affiliates or any of its Sublicensees outside the scope of this Agreement commences clinical trials or Commercializes
any product [****]

 

		6.	REPORTING.

 

		6.1	Development Reporting. XYNOMIC
shall inform BII on an [****] basis on the activities
performed and any Results achieved or generated during its Development of the Products. 

 

		6.2	Commercialization Reporting. After the First Commercial Sale
of Products by XYNOMIC, its Affiliate or Sublicensee, XYNOMIC
shall furnish BII with [****] reports [****].
Each such [****] report shall (i) be furnished to BII [****]

 

		7.	REGULATORY MATTERS.

 

		7.1	Regulatory Matters. XYNOMIC
shall be solely responsible for, and - subject to the requirements in this Agreement - has full
decisional power with respect to, all regulatory matters including the filing for approvals for the Compound and Products in the
Field, and shall own, directly or through an Affiliate, all Regulatory Approvals. 

 

		7.2	Pharmacovigilance. XYNOMIC
shall be solely responsible for, have in place and will maintain until the expiration (or earlier
termination) of this Agreement (or, as applicable, until the obligations intended to survive termination of this Agreement have
been fulfilled) systems, procedures, training programs and documentation needed to perform and comply with all pharmacovigilance
regulatory obligations concerning all Products in the countries where Products are Commercialized or otherwise used by XYNOMIC.
XYNOMIC shall ensure compliance with all Applicable Laws regarding the Compounds
and Products relating to risk management, drug safety and pharmacovigilance.

 

		8.	PAYMENT AND PAYMENT
TERMS.

 

		8.1	Upfront and Milestone Payments. In partial consideration for
the assignment and transfer of the Assigned Patents and the licenses granted under this Agreement, XYNOMIC
agrees to pay to BII the following upfront payment, development milestone payments and commercial milestone payments:

 

		(a)	Upon execution of this Agreement, XYNOMIC
shall pay to BII the following upfront payment:

 

Three hundred
thousand US Dollars (US$ 300,000) (the “Upfront Payment”)

 

    12

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		(b)	In addition to the payment above, XYNOMIC
will pay to BII milestone payments as follows:

 

		(i)	Upon first dosing of a patient in Phase I Clinial Trial
in the US or China:

 

One Million
seven hundred thousand US Dollars (US$ 1,700,000)

 

		(ii)	Upon first dosing of a patient in a pivotal Phase III Clinial
Trial in the first indication in the US or China:

 

Four
Million US Dollars (US$ 4,000,000)

 

		(iii)	Upon first dosing of a patient in a pivotal Phase III Clinial
Trial in a second indication in the US or China:

 

Two Million
US Dollards (US$ 2,000,000)

 

		(iv)	Upon the grant of the first Marketing Authorization of the first indication in the US:

 

Seven Million
US Dollars (US$ 7,000,000)

 

		(v)	Upon the grant of the first Marketing Authorization of the first indication in China:

 

Three Million
US Dollars (US$ 3,000,000)

 

		(c)	The milestone payments above will be made only for the first achievement of a given milestone by
a Product, regardless of where the relevant milestone event occurs with respect to more Products.

 

		(d)	XYNOMIC shall inform BII in writing on the occurrence of a milestone event under Section 8.1(b)
as soon as possible, but in no event later than [****]

 

		(e)	[****]

 

		8.2	Royalties. Subject to
Sections 8.5 and 9.11, in further consideration for the assignment and transfer of the Assigned Patents and the licenses granted
under this Agreement, XYNOMIC shall pay to BII royalties on aggregate Net Sales in the Territory of each Product during a given
Calendar Year at the following royalty rates (“Royalties”):

 

		(a)	[****]

 

		(b)	[****]

 

		(c)	[****]

 

    13

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		8.3	Net Sales. The Royalties
shall be calculated on the basis of the global annual Net Sales, which in their turn shall be calculated on a Product by Product
and country-by-country basis from the First Commercial Sale until the expiration of the Royalty Term.

 

		8.4	Royalty Term. XYNOMIC’s obligation to pay
Royalties shall begin, on a country-by-country and Product by Product basis, with the First Commercial Sale of such Product in
such country, and shall expire, on a country-by-country and Product-by-Product basis upon the latter of (“Royalty Term”):

 

		8.4.1	the date on which such Product is no longer covered by
a Valid Claim of an Assigned Patent;

 

		8.4.2	the date on which such Product is no longer covered by any other governmental grant of exclusivity
(e.g., data, regulatory or marketing exclusivity) in such country in the indication; or

 

		8.4.3	ten (10) years from first launch of the respective Product in the country in the indication, provided
the Licensed Know-How is still proprietary, or such Licensed Know-How is no longer proprietary owing to a breach of XYNOMIC’s
confidentiality obligations hereunder or such obligations of its Affiliates or Sublicensees.

 

		8.5	Royalty Reductions. In the event Royalties are payable
[****], then the Royalty otherwise payable for such Product in such country will be reduced in such country by [****]
(the “Reduced Royalty Rate”).

 

		8.6	Blended Rates. The Parties acknowledge and agree
that [****]

 

		8.7	Payment Terms.

 

		(i)	All payments made hereunder between the Parties shall be made in US Dollars. Payments hereunder
shall be paid by wire transfer, or electronic funds transfer in immediately available funds to a bank account designated by BII.

 

		(ii)	Upfront Payment. The Upfront Payment shall be due and payable [****] after the later
of (i) the Parties’ execution of this Agreement by facsimile or email transmission, and (ii) XYNOMIC’s
receipt of an Invoice of such amount from BII; provided that such amount shall not become payable until such time as XYNOMIC
has received a duly signed original of the Agreement by BII.

 

		(iii)	Milestone Payments. Each milestone payment shall be due and payable to BII [****]
after receipt of an Invoice from BII, which shall be provided to XYNOMIC as soon
as practicable after XYNOMIC has notified BII that the particular milestone has
been achieved (whether achieved by or on behalf of XYNOMIC or any of its Affiliates or Sublicensees). XYNOMIC
will notify BII [****] after the achievement of any milestone event for which a payment to BII is required under
Section 8.1 and BII shall send to XYNOMIC an Invoice for the corresponding milestone
payment.

 

    14

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		(iv)	Royalty Payments. Royalties shall be paid on a [****] basis (“Royalty Period”).
Within [****], XYNOMIC shall calculate the Royalty payments owed to
BII and shall remit to BII the amount owed to BII. All Royalty payments shall be computed by converting the Net Sales in each country
in the Territory into the currency of US Dollars, using the monthly exchange rates as customarily used by BII in its regular accounting
system. [****].

 

		8.8	Reports. Each Royalty payment shall be accompanied
by a written report describing the Net Sales of the Product sold by or on behalf of XYNOMIC,
its Affiliates and Sublicensees during [****] in each country in the Territory in which such Product occurred in
the [****] covered by such statement, specifying: the gross sales (if available) and Net Sales in each country’s
currency, including an accounting of deductions taken in the calculation of Net Sales; the applicable exchange rate to convert
from each country’s currency to US Dollars; and the Royalties payable in US Dollars.

 

		8.9	Records. XYNOMIC shall keep (and shall cause its Affiliates and Sub-Licensees to keep) complete
and accurate records pertaining to the sale or other disposition of Products in sufficient detail to permit BII to confirm the
accuracy of all Royalty payments reported for [****] following the end of the Calendar Year to which they pertain.
BII shall have the right to cause an independent, certified public accountant reasonably acceptable to XYNOMIC (the “Auditor”)
to audit such records solely to confirm Net Sales and Royalty payments for a period covering [****], provided that
such audits may not be performed more than once a year. Such audits may be exercised during normal business hours upon reasonable
prior written notice to XYNOMIC. The Auditor will execute a reasonable written confidentiality agreement with XYNOMIC and will
disclose to BII only such information as is reasonably necessary to provide BII with information regarding any actual or potential
discrepancies between amounts reported and actually paid and amounts payable under this Agreement. The report of the Auditor will
include the methodology and calculations used to determine the results, will be delivered to BII and XYNOMIC at the same time,
[****] after delivery to both Parties, it being understood that BI will have the right during [****]
period to discuss the report with the Auditor. In the event the Parties are not in alignment after such [****] period,
either Party may refer this matter for resolution in accordance with Section 8.10 below. BII shall bear the full cost of such audit
unless the report of the Auditor discloses an undisputed underpayment by XYNOMIC [****]. XYNOMIC shall pay the amount
of any underpayment disclosed in the undisputed Auditor’s report, together with interest thereon calculated pursuant to Section
8.10 to BII [****] after delivery to the Parties of the final Auditor’s report. If such final Auditor’s
report discloses an overpayment by XYNOMIC of the amounts payable hereunder, BII shall reimburse such overpayment to XYNOMIC [****]
after delivery to the Parties of the final Auditor’s report. Upon the expiration [****] following the end of
any Calendar Year, the calculation of Royalty payments with respect to such Calendar Year shall be binding and XYNOMIC shall be
released from any liability and obligation with respect to payments for such Calendar Year except in the case of fraud or willful
deceit.

 

		8.10	Audit Dispute.  In the event of a dispute with respect to any audit under Section 8.9, BII
and XYNOMIC shall work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable resolution
of any such dispute [****] the dispute shall be submitted for resolution to a certified public accounting firm jointly
selected by the Parties(the “Audit Arbitrator”). The decision of the Audit Arbitrator shall be final and the
costs of such arbitration as well as the initial audit shall be borne between the Parties in such manner as the Audit Arbitrator
shall determine. [****] after such decision and in accordance with such decision, XYNOMIC shall pay the additional
amounts, with interest from the date originally due as provided in Section 8.12, or BII shall reimburse the overpayment, as
applicable.

 

    15

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		8.11	Taxes.

 

		8.10.1	If withholding of any taxes imposed by local laws or regulations of the country where one of the
contractual partners has its registered office is required on account of any royalties and other payments paid under this Agreement,
such taxes shall be borne by XYNOMIC. All payments by XYNOMIC shall be made free and clear of and without any deduction for or
on account of withholding taxes. In case XYNOMIC is required to make such a payment subject to the deduction of local withholding
taxes, the sum payable by XYNOMIC shall be increased to the extent necessary to ensure that BII receives a sum net of any withholding
or deduction of taxes equal to the sum which it would have received in case no such deduction or withholding of taxes has been
made or required to be made.

 

		8.10.2	If XYNOMIC causes withholding taxes by sublicensing rights or services to affiliates or other third
parties not being party of this contract or by paying from other countries other than the registered office of XYNOMIC, [****].
For avoidance of doubt, BII does not accept foreign withholding taxes from countries BII is not directly contracted with or does
not directly receive payments from.

 

		8.10.3	All payments payable under the terms of this Agreement are expressed to be exclusive of value added
tax (“VAT”), which will be invoiced separately or as a separate line item on the same invoice, and paid at the
rate and in the manner from time to time prescribed by Tax Law. If any VAT is chargeable in respect of any payments, the paying
Party shall pay such VAT at the applicable rate in respect of such payments following receipt, where applicable, of an VAT invoice
in the appropriate form issued by the receiving Party in respect of those payments. The Parties shall issue invoices for all amounts
payable under this Agreement consistent with VAT requirements and irrespective of whether the sums may be netted for settlement
purposes.  If the VAT originally paid or otherwise borne by the paying Party are in whole or in part subsequently determined
not to have been chargeable, all necessary steps will be taken by the receiving Party to receive a refund of these undue VAT from
the applicable governmental authority or other fiscal authority and any amount of undue VAT repaid by such authority to the receiving
Party will be transferred to the paying Party [****] of receipt.

 

		8.12	Overdue Payments. Payments due under this Agreement
and not paid [****] after the due date shall bear interest at an annual rate [****]

 

		8.13	Financial Standards. All financial terms and standards (including any calculation of Net
Sales, Development costs and financial payments due under this Agreement) shall be governed by and determined in accordance with
Accounting Standards and shall be consistent with XYNOMIC’s audited consolidated
financial statements. Notwithstanding the above and notwithstanding the requirements or principles of the Accounting Standards,
Net Sales shall be calculated in accordance with the formula specified in Section 1.46.

 

    16

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		8.14	Confidentiality. All information provided by or on behalf of XYNOMIC to BII under this Section
8 shall be deemed Confidential Information of XYNOMIC and BII shall protect it in accordance with the confidentiality and non-use
provisions of Section 11.

 

		9	INTELLECTUAL
PROPERTY.

 

		9.1	Execution of Assignment Documents

 

At the Effective Date XYNOMIC
shall provide to BII the partially executed (by XYNOMIC) assignment document (including the Assignment Form set forth in Exhibit
2.1 hereof) for transfer of the Assigned Patents (the “Assignment”), and BII shall fully execute and deliver
the Assignment as soon as reasonably possible following receipt of the Upfront Payment.

 

		9.2	Patent Transfer. Within [****] after
receipt of the Upfront Payment BII shall provide
XYNOMIC with copies of the patent files of all Assigned Patents available at BII on the Effective Date (via electronic delivery)
except for such files kept with the local patent representatives which shall remain with the respective representative until further
instruction from XYNOMIC. 

 

		9.3	Local Patent Representatives. BII shall inform in writing all of its local patent representatives
in the Territory within [****] after receipt of the Upfront Payment that: (i) the Assigned Patents have been assigned
to XYNOMIC, (ii) any future correspondence and further invoices regarding
the Assigned Patents should be directly sent to XYNOMIC and (iii) local patent
representatives immediately inform XYNOMIC about the further due dates related to
Assigned Patents. BII shall forward to XYNOMIC any correspondence it nevertheless
receives from its local patent representatives or any patent offices regarding the Assigned Patents.

 

Within
[****] after receipt of the fully executed Assignment XYNOMIC
shall authorize a European and an US patent attorney and inform BII of
his/her names.

 

		9.4	Maintenance and Prosecution of the Assigned Patents. BII will remain responsible for the
maintenance and prosecution of the Assigned Patents until the Assignment is executed and delivered by both Parties (the “Assignment
Date”). BII will pay all prosecution fees, maintenance fees and/or such other fees due and required by the relevant patent
offices for maintenance of the Assigned Patents on or prior to the Assignment Date and will pay all bills and invoices for work
performed on or prior to the Assignment Date in connection with the maintenance and/or prosecution of the Assigned Patents. If
BII receives any bills or invoices for such work performed after the Assignment Date, then BII will forward to XYNOMIC
such bills or invoices for payment by XYNOMIC and BII shall have no liability for XYNOMIC’s
failure to timely pay such bills or invoices. For clarity, work relating to the transfer of the Assigned Patents to XYNOMIC,
whether performed before or after the Effective Date shall not constitute work performed in connection with the maintenance or
prosecution of the Assigned Patents prior to the Assignment Date for purposes of this Section. XYNOMIC
will start to be responsible for the maintenance and prosecution of the Assigned Patents as from the Assignment Date.

 

    17

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		9.5	Prosecution. Except as otherwise provided in this Agreement, XYNOMIC
shall be responsible for, and – subject to the terms of this Agreement - has full decisional power with respect to, preparing,
filing, prosecuting and maintaining, throughout the world, all of the Assigned Patents, provided, however, that XYNOMIC
shall inform BII on an at least annual basis about the status of the Patents and of the patent prosecution of all Assigned Patents.
XYNOMIC shall provide upon BII’s written request any substantive communications with the competent patent offices. In case
of difficulties in obtaining protection for any Product or Development Compound in US, the United Kingdom, France, Germany, Spain,
Japan or China by any of the Assigned Patents XYNOMIC shall timely inform BII. XYNOMIC shall keep BII advised in case XYNOMIC intends
to amend the scope of any of the Assigned Patents such that a Product might no longer be covered by the amended claim and give
BII reasonable opportunity to review and comment upon the text of any communication with the competent patent offices for Assigned
Patents, and that XYNOMIC shall not unreasonably refuse to address any of BII’s
comments. XYNOMIC shall use Commercially Reasonable Efforts to prosecute and maintain
these Assigned Patents.

 

		9.6	Royalties. The Parties
agree that the assignment and transfer of the Assigned Patents shall only facilitate the prosecution, maintenance and exploitation
of these Assigned Patents and shall not affect the term of the Royalty payments. Accordingly, as long as these Assigned Patents
contain a Valid Claim, XYNOMIC shall be obligated to pay Royalties thereon.

 

		9.7	Discontinuance. If XYNOMIC
decides to discontinue maintaining any Assigned Patent, XYNOMIC will notify
BII of such decision in writing in advance (at the latest [****] prior to any applicable
deadline, if any), and BII will have the right to, within [****] following BII’s
receipt of the written notice from XYNOMIC, request the cost-free assignment and
transfer of the Assigned Patent. If XYNOMIC discontinues maintaining an Assigned
Patent without notifying BII and the Assigned Patent lapses, XYNOMIC shall pay
to BII contractual damages based on the estimated amount of Royalties that would be payable by XYNOMIC
to BII during the remainder of the statutory term of such Assigned Patent if the Assigned Patent had not lapsed.

 

		9.8	Enforcement. If a Party
becomes aware of any infringement, anywhere in the world, of any issued Patent within the Assigned Patents, it will promptly notify
the other Party in writing to that effect. XYNOMIC shall have the primary right,
but not the obligation, to take action to obtain a discontinuance of infringement or bring suit against a Third Party infringer
of the Assigned Patents. XYNOMIC shall bear all expenses of such suit. If XYNOMIC
elects not to take action or to bring suit to prosecute such infringement, it shall notify BII of such election within
[****] after receipt of the notice of the infringement or immediately after the
election to stop any such suit. If after the expiration of [****] period (or, if
earlier, the date upon which XYNOMIC provides written notice that it does not plan
to bring such action), XYNOMIC has neither obtained a discontinuance of infringement
of the Assigned Patent, as the case may be, nor filed suit against any such Third Party infringer of such Patents, then BII shall
have the right, but not the obligation, to take action or bring suit against such Third Party infringer of such Patents, provided
that BII shall bear all the expenses of such suit. The non-enforcing Party shall provide such assistance as the enforcing Party
shall reasonably request in connection with any action or suit hereunder to prevent or enjoin any such infringement or unauthorized
use of an Assigned Patent, including agreeing to be joined as a party to such action or suit and executing legal documents. Such
assistance will be provided by the non-enforcing Party at the enforcing Party’s cost.

 

    18

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		9.9	Sharing of Recoveries. Any
recoveries obtained as a result of any proceeding against a Third Party infringer (where the infringement relates to the Development,
Manufacture and/or Commercialization of any Product) shall be allocated as follows:

 

		(i)	Such recovery shall first be used to reimburse each Party
for all reasonable litigation costs in connection with such litigation paid by that Party;

 

		(ii)	such recovery shall then be used to compensate each Party
for the respective damages suffered from the infringement of the respective Patent as determined by the court or arbitration panel
in the enforcement action, provided that in the event the remaining portion of the recovery is not sufficient to compensate each
Party’s damages, such compensation shall be paid on a pro-rata share based on the respective damages suffered, provided, however,
if such respective damages suffered cannot be reasonably ascertained, the remaining portion of the recovery shall be equally shared
between the Parties; and .

 

		9.10	Licensed Know-How. BII
retains all rights to the Licensed Know-How, subject only to the licenses granted hereunder. For the avoidance of doubt, XYNOMIC
shall only be entitled to utilize the Licensed Know-How in accordance with XYNOMIC’s
rights and obligations under this Agreement.

 

		9.11	Third Party Licenses. If
in the reasonable opinion of Xynomic, the Development, Manufacture, or Commercialization
of any Compound or Product by Xynomic, any of its Affiliates, or any of its or
their Sublicensees infringes or misappropriates any Patent, trade secret, or other intellectual property right of a Third Party
in any country or other jurisdiction in the Territory, such that Xynomic, any of
its Affiliates or any of its or their Sublicensees cannot Develop, Manufacture, or Commercialize such Compound or Product in such
country or other jurisdiction without infringing such Patent, trade secret, or other intellectual property right of such Third
Party, then Xynomic may negotiate and obtain a license from such Third Party as
necessary for Xynomic and its Affiliates, and its and their Sublicensees to Develop,
Manufacture, and Commercialize Compounds and Products in such country or other jurisdiction. [****]

 

		10	RESULTS.

 

		10.1	BII hereby acknowledges that XYNOMIC
is the owner of all inventions, data and other results developed by XYNOMIC
under this Agreement (“Results”), and BII shall acquire no rights, title or interest whatsoever in or to any
such Results, except as specifically and expressly provided under this Agreement.

 

    19

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		10.2	XYNOMIC shall be responsible for, and – subject to
the terms of this Agreement - has full decisional power with respect to, filing, prosecuting and maintaining, throughout the world,
all Patents based on the Results.

 

		10.3	Third Party Rights. If
the Development, Manufacture and/or Commercialization of any Product is alleged by a Third Party to infringe a Third Party’s Intellectual
Property, the Party becoming aware of such allegation shall promptly notify the other Party. XYNOMIC shall be responsible for
defending against such allegation and any suit brought by a Third Party based on such allegation except in case BII’s activities
pursuant to this Agreement infringe or will infringe said Third Party’s Intellectual Property, in which case BII shall be responsible
for defending itself against such allegation and any suit brought by a Third Party based on such allegation.

 

		11	CONFIDENTIALITY.

 

		11.1	Obligation of Confidentiality. As of the Effective
Date, all Confidential Information disclosed, revealed or otherwise made available to one Party (“Receiving Party”)
by or on behalf of the other Party (“Disclosing Party”) under, or as a result of, this Agreement are made available
to the Receiving Party solely to permit the Receiving Party to exercise its rights, and perform its obligations, under this Agreement.
The Receiving Party shall not use any of the Disclosing Party’s Confidential Information for any other purpose, and shall not
disclose, reveal or otherwise make any of the Disclosing Party’s Confidential Information available to any other person, firm,
corporation or other entity, without the prior written authorization of the Disclosing Party, except as explicitly stated in this
Section 11.

 

		11.2	Additional Obligations.

 

		11.2.1	Appropriate Safeguards. In furtherance of the Receiving Party’s obligations under Section
11.1 hereof, the Receiving Party shall take all reasonable steps, and shall implement all appropriate and reasonable safeguards,
to seek to prevent the unauthorized use or disclosure of any of the Disclosing Party’s Confidential Information.

 

		11.2.2	Recipients of Confidential Information. Without limiting the generality of this Section
11.2, the Receiving Party shall disclose any of the Disclosing Party’s Confidential Information only to those of its Affiliates,
officers, employees, assignees, licensees, Sublicensees, contract service providers, and its potential assignees, licensees and
Sublicensees, Regulatory Authorities, patent authority, collaborators, acquirers, consultants and investors and potential investors
that have a need to know the Disclosing Party’s Confidential Information, in order for the Receiving Party to exercise or confirm
its rights and/or to perform its obligations under this Agreement, and only if such officers, employees, assignees, licensees,
Sublicensees, contract service providers, and its potential assignees, licensees and Sublicensees, and consultants and investors
and potential investors have executed appropriate non-disclosure agreements containing substantially similar terms regarding confidentiality
and non-use as those set out in this Agreement or are otherwise bound by obligations of confidentiality effectively prohibiting
the unauthorized use or disclosure of the Disclosing Party’s Confidential Information.

 

    20

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		11.2.3	Unauthorized Use or Disclosure. The Receiving Party shall furnish the Disclosing Party with
written notice immediately of it becoming aware of any unauthorized use or disclosure of any of the Disclosing Party’s Confidential
Information by any officer, employee, assignee, licensee or Sublicensee, or potential assignee, contract service provider, and
its licensee or Sublicensee, or consultant, investor or potential investor of the Receiving Party, and shall take all actions reasonably
required in order to prevent any further unauthorized use or disclosure of the Disclosing Party’s Confidential Information.

 

		11.3	Limitations. The Receiving Party’s obligations under Sections 11.1 and 11.2 hereof shall
not apply to the extent that the Receiving Party can demonstrate by competent evidence that any of the Disclosing Party’s Confidential
Information:

 

		(i)	is in the public domain, or becomes generally available
to the public through no fault of the Receiving Party;

 

		(ii)	was known to the Receiving Party, without restriction of use or disclosure, prior to being made
available hereunder;

 

		(iii)	is disclosed, revealed or otherwise made available to the Receiving Party by a Third Party, without
restriction of use or disclosure, that is under no obligation of non-disclosure and/or non-use to the Disclosing Party in relation
to the subject item; or

 

		(iv)	is required to be disclosed under Applicable Law, or in connection with any application by the
Receiving Party for any Regulatory Approvals; provided, however, that the Receiving Party shall furnish the Disclosing Party’s
with as much prior written notice of such disclosure requirement as reasonably practicable, to permit the Disclosing Party, in
its sole discretion, to take appropriate action, including seeking a protective order, in order to prevent the Disclosing Party’s
Confidential Information from passing into the public domain or becoming generally available to the public.

 

		11.4	Return of Confidential Information. Subject to Section
13.2, upon termination (but not expiration) of this Agreement for any reason whatsoever, the Receiving Party shall cease all use
of and return to the Disclosing Party, or destroy, as the Disclosing Party shall specify in writing promptly upon such termination,
all copies of all documents and other materials that contain or embody any of the Disclosing Party’s Confidential Information,
except to the extent that the Receiving Party is (i) required by Applicable Laws to retain such documents and materials or (ii)
remains entitled under this Agreement to use such Confidential Information, and provided further that each Party may keep a single
copy of all Confidential Information within its legal archives solely to assure compliance with the provisions of this Section
11. Within [****] after the date of termination of this Agreement, the Receiving Party shall furnish the Disclosing Party
with a certificate, duly executed by an officer of the Receiving Party, confirming that the Receiving Party has complied with
its obligations under this Section 11.4.

 

		11.5	Survival. All of the Receiving Party’s obligations under Sections 11.1 and 11.2 hereof,
with respect to the protection of the Disclosing Party’s Confidential Information, shall for a period of [****] survive
the expiration or termination of this Agreement for any reason whatsoever.

 

    21

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		11.6	Public Announcements. During the term of this Agreement, no public announcement concerning
the existence of, terms, or subject matter of this Agreement shall be made, either directly or indirectly, by any Party, without
first obtaining the prior written approval of the other Party and agreement upon the nature and text of such public announcement;
such agreement and approval shall not be unreasonably withheld or delayed. The Parties hereby agree that each Party may issue a
press release in the form agreed to by the other Party in writing on or after the Effective Date hereof with respect to the existence
and subject matter of this Agreement. Each Party agrees that it shall co-operate fully with the other with respect to all disclosures
regarding this Agreement to any governmental or regulatory agencies, including requests for confidential treatment of proprietary
information of either Party included in any such disclosure.

 

		11.7	Applicable Laws. Nothing in this Agreement shall be construed as preventing or in any way
inhibiting either Party from complying with Applicable Laws or securities regulations governing activities and obligations undertaken
pursuant to this Agreement, in any manner which it reasonably deems appropriate, including, for example, by disclosing to Regulatory
Authorities or securities regulators Confidential Information or other information received from the other Party, subject to Sections
11.3(iv) and 11.6.

 

		11.8	Publication. Publications in a journal, paper, magazine or any other such similar disclosure
relating to this Agreement, the Compounds and/or the Products require the prior written approval of the other Party, such approval
not to be unreasonably withheld. For the avoidance of doubt, with respect to Licensed Know-How (including but not limited to data
transferred pursuant to Section 3), only BII and, as the case may be, its Third Party contractors involved in the generation of
such Licensed Know-How are entitled to publish such Licensed Know-How, but BII shall provide XYNOMIC with a draft publication [****]
in advance of the contemplated publication date for its review. XYNOMIC has the right to request an amendment to the contemplated
publication if such publication may harm its rights hereunder (e.g. if structural information of the Compound is disclosed). Any
other disclosure intended to be submitted for publication by one Party shall first be sent to the other Party in order to allow
such Party to make written comments thereon, and to preserve its Intellectual Property by delaying such publication and/or removing
its Confidential Information. In the case of publication of Results, each Party’s contribution shall be acknowledged in any publication
by co-authorship or other acknowledgment, whichever is appropriate in accordance with customary scientific practice. Once written
approval has been granted for a particular disclosure, such disclosed information may be subsequently disclosed without the requirement
of further approvals.

 

		12	WARRANTIES;
LIABILITY; AND INSURANCE.

 

		12.1	Warranties.

 

		12.1.1	Representations and Warranties of Each Party. Each
of BII and XYNOMIC hereby represents and warrants to the other Party hereto that
as of the Effective Date:

 

		(i)	it is a corporation or entity duly organized and validly
existing under the laws of the state or other jurisdiction of its incorporation or formation;

 

    22

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		(ii)	its execution, delivery and performance of this Agreement
by such Party has been duly authorized by all requisite corporate, and do not violate (a) such Party’s charter documents,
bylaws, or other organizational documents, (b) in any material respect, any agreement, instrument, or contractual obligation
to which such Party is bound, (c) any requirement of any Applicable Law, or (d) any order, writ, judgment, injunction,
decree, determination, or award of any court or governmental agency presently in effect applicable to such Party;

 

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

 

		(iv)	this Agreement is a legal, valid, and binding obligation of such Party enforceable against it in
accordance with its terms and conditions, subject to the effects of bankruptcy, insolvency, or other laws of general application
affecting the enforcement of creditor rights, judicial principles affecting the availability of specific performance, and general
principles of equity (whether enforceability is considered a proceeding at law or equity).

 

		(v)	it is not under any obligation, contractual or otherwise, to any Person that conflicts with or
is inconsistent in any material respect with the terms of this Agreement, or that would impede the diligent and complete fulfillment
of its obligations hereunder; and

 

		(vi)	there is no action or proceeding pending or, to the knowledge of such Party, threatened that could
reasonably be expected to impair or delay the ability of such Party to perform its obligations under this Agreement.

 

Furthermore,
each of BII and XYNOMIC hereby covenants to the other Party that it shall at all
times comply with all Applicable Laws relating to its activities under this Agreement.

 

		12.1.2	Representations and Warranties of BII. BII hereby represents and warrants to XYNOMIC that,
as of the Effective Date:

 

		(i)	to the best knowledge of BII, BII or its Affliates Controls
(free and clear of any liens, mortgages, security interests, charges, encumbrances or otherwise) the entire right, legal and/or
beneficial title and ownership, and interest in the Assigned Patents and the Licensed Know-How;

 

		(ii)	BII has the right to enter into this Agreement and to assign the Assigned Patents and to grant
the licenses contained herein;

 

		(iii)	BII or any of its Affiliates has not and will not enter into any any Third Party License; or take
any action that is inconsistent with BII’s obligations or impair XYNOMIC’s rights under this Agreement;

 

		(iv)	There is no claim by any Third Party or Regulatory Authority, and BII has not received any written
claim or demand alleging that an issued Patent which is within the Assigned Patents is invalid or unenforceable;

 

    23

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		(v)	To the best of BII’s knowledge, the data package, regulatory documentation, Assigned Patents
and Know-How to be assigned or transferred to XYNOMIC under this Agreement (i) were generated in accordance with all Applicable
Laws, including good clinical practices and good laboratory practices, as applicable, and (ii) were received and processed in accordance
with all Applicable Laws prior to and during delivery to XYNOMIC;

 

		(vi)	No Third Party has challenged BII or its Affiliates on the extent, validity or enforceability of
issued Assigned Patents (including by way of example through the institution or written threat of institution of interference,
nullity or similar invalidity proceedings before the United States Patent and Trademark Office or any analogous foreign entity),
and all application, registration, maintenance and renewal fees in respect of the Assigned Patents have been paid and all documents
and certificates required to be filed with the relevant agencies for the purpose of maintaining such Assigned Patents have been
filed.

 

		(vii)	None of the rights of BII or its Affiliates under the Assigned Patents in the Territory were developed
with funding from any government or any other governmental authority such that the government in such jurisdiction has any march-in
rights in or to any Assigned Patent in the Territory or such that BII or its Affiliates would be subject to any compulsory licensing
requirements in the Territory;

 

		(viii)	BII represents and warrants that Exhibit 1.5 sets forth a true, accurate and complete list
of the Assigned Patents. BII has paid all remuneration that may be due to inventors of the Assigned Patents under any applicable
inventor remuneration laws.

 

		(ix)	To the best of BII’s knowledge, BII has provided or will provide to XYNOMIC
all Licensed Know-How.

 

		12.1.3	Diligence warranty of XYNOMIC. XYNOMIC acknowledges
and agrees that as of the Effective Date it has received access to the information relating to the Assigned Patents and Licensed
Know-How that XYNOMIC deemed necessary to conduct and complete its due diligence
relating to Compound and Products to its satisfaction. XYNOMIC acknowledges and
agrees that BII has answered all questions of XYNOMIC relating to the due diligence
of the Compounds and Products, and XYNOMIC warrants that it has diligently reviewed
all such information, including information relating to the Assigned Patents and Licensed Know-How, the Compounds and the Products
provided by BII.

 

		12.1.4	Disclaimer. Except as specifically and expressly
set forth in this Section 12, each Party makes no representation or warranty and specifically disclaims any guarantee, express
or implied, relating to the Assigned Patents and the Licensed Know-How, or any other information disclosed, revealed or otherwise
made available to the other Party under this Agreement or otherwise, including, but not limited to any representation or warranty
that the Development of the Compounds and Products will be successful, in whole or in part, that the Assigned Patents and Licensed
Know-How will be suitable for exploitation or that the Compounds and Products conform to the requirements of any Applicable Laws.
Subject only to Sections 12.1.1 and 12.1.2 above, BII expressly disclaims any warranties or conditions, express, implied, statutory
or otherwise with respect to the Assigned Patents and Licensed Know-How, the Compounds and Products, including any warranty of
merchantability, fitness for a particular purpose or non-infringement.

 

    24

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		12.1.5	Limitation of Liability. Except in the case of willful
or intentional misconduct or gross negligence, neither Party shall be liable to the other Party for any indirect, punitive or
consequential damages, whether based on contract or tort, or arising under Applicable Law or otherwise.

 

		12.2	Indemnification.

 

		12.2.1	BII’s Obligations to Indemnify. BII shall indemnify, defend and hold XYNOMIC,
its Affiliates, and its and their employees, agents, officers, and directors (individually and/or collectively referred to hereinafter
as a “Xynomic Party”) harmless from and against any and
all losses, liabilities, damages, expenses or fees paid or payable by XYNOMIC or
a Xynomic Party to a Third Party (collectively, “Xynomic
Losses”) to the extent that such Xynomic Losses result from or arise in
connection with a claim, suit or other proceeding made or brought by a Third Party against XYNOMIC
or a Xynomic Party (a “Xynomic
Claim”) based on, resulting from, or arising in connection with:

 

		(i)	any breach of any of BII’s obligations, representations,
warranties or covenants set forth in this Agreement;

 

		(ii)	any other grossly negligent, willful or intentional misconduct,
error or omission on the part of BII or its Affiliates, or any officer, director, employee, agent or representative of the foregoing;
or

 

		(iii)	any Development activities conducted by or on behalf of
BII or its Affiliates related to any Compound or Product prior to the Effective Date;

 

provided, however, that
BII shall not be obligated to indemnify, defend or hold harmless XYNOMIC or a Xynomic
Party from any Xynomic Claim or for any Xynomic
Loss incurred by XYNOMIC or a Xynomic
Party to the extent XYNOMIC is responsible for indemnifying, defending and holding
BII and BII Parties harmless for such Claims as set forth in Section 12.2.2.

 

		12.2.2	XYNOMIC’s Obligations to Indemnify.
XYNOMIC shall indemnify, defend and hold BII, its Affiliates and its and their officers,
directors, trustees, agents and employees (individually and/or collectively referred to herein as an “BII Party”)
harmless from and against any and all losses, liabilities, damages, expenses or fees paid or payable by BII or a BII Party to a
Third Party (collectively, “BII Losses”) to the extent that such BII Losses result from or arise in connection
with a claim, suit or other proceeding made or brought by a Third Party against BII or a BII Party (an “BII Claim”)
based on, resulting from, or arising in connection with:

 

		(i)	any breach of any of XYNOMIC’s
obligations, representations, warranties or covenants set forth in this Agreement;

 

		(ii)	any other grossly negligent, willful or intentionally wrongful
act, error or omission on the part of XYNOMIC, or any officer, director, employee,
agent or representative of XYNOMIC;

 

		(iii)	any claim that the Development, Manufacture and/or Commercialization
of a Compound or a Product fails to conform to the requirements of any Applicable Laws, including the failure by XYNOMIC
to obtain any required Regulatory Approvals for the Compound or Products; or

 

    25

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		(iv)	any product liability claim regarding the Products to the
extent Commercialized by XYNOMIC;

 

		(v)	any Third Party claim regarding an allegation that the
Manufacture or Commercialization by XYNOMIC of Compounds or Products pursuant to
and consistent with the provisions of this Agreement infringes such Third Party’s Intellectual Property;

 

provided, however, that
XYNOMIC shall not be obligated to indemnify, defend or hold harmless BII or an BII
Party from any BII Claim or for any BII Loss incurred by BII or an BII Party to the extent BII is responsible for indemnifying,
defending and holding XYNOMIC and Xynomic
Parties harmless for such Claims as set forth in Section 12.2.1.

 

		12.3	Indemnification Procedures.

 

		12.3.1	Each indemnified Party shall notify the indemnifying Party (and in reasonable detail) of the Claim
within [****] after receipt by such indemnified Party of notice of the XYNOMIC Claim or BII Claim, as the case may
be, or otherwise becoming aware of the existence or threatened existence thereof (such XYNOMIC Claim or BII Claim being referred
to as a “Claim”). Failure to give such notice shall not constitute a defense, in whole or in part, to any Claim
by an indemnified Party hereunder except to the extent the rights of the indemnifying Party are materially prejudiced by such failure
to give notice. The indemnifying Party shall notify in English the indemnified Party of its intentions as to the defense of the
Claim or potential Claim within [****] after receipt of notice of the Claim. If the indemnifying Party assumes the
defense of a Claim against an indemnified Party, the indemnifying Party shall have no obligation or liability under this Section
12 as to any Claim for which settlement or compromise of such Claim or an offer of settlement or compromise of such Claim is made
by an indemnified Party without the prior written consent of the indemnifying Party, which consent shall not be unreasonably withheld.

 

		12.3.2	The indemnifying Party shall assume exclusive control of the defense and settlement (including
all decisions relating to litigation, defense and appeal) of any such Claim (so long as it has confirmed its indemnification obligation
responsibility to such indemnified Party under this Section 12.3 with respect to a given Claim); provided, however, that
the indemnifying Party may not settle such Claim in any manner that would require payment by the indemnified Party, or would materially
adversely affect the rights granted to the indemnified Party hereunder, or would materially conflict with the terms of this Agreement,
or adversely affect other products, without first obtaining the indemnified Party’s prior written consent, which consent shall
not be unreasonably withheld.

 

		12.3.3	The indemnified Party shall reasonably cooperate with the indemnifying Party in its defense of
the Claim (including, without limitation, making documents and records available for review and copying and making persons within
its control available for pertinent testimony in accordance with the confidentiality provisions of Section 10, and neither Party
shall be required to divulge privileged material to the other) at the indemnifying Party’s expense. If the indemnifying Party assumes
defense of the Claim, an indemnified Party may participate in, but not control, the defense of such Claim using attorneys of its
choice and at its sole cost and expense, with such cost and expense not being covered by the indemnifying Party. If an indemnifying
Party does not agree to assume the defense of the Claim asserted against the indemnified Party (or does not give notice that it
is assuming such defense), or if the indemnifying Party assumes the defense of the Claim in accordance with this Section 12.3 yet
fails to defend or take other reasonable, timely action, in response to such Claim asserted against the indemnified Party, the
indemnified Party shall have the right to defend or take other reasonable action to defend its interests in such proceedings, and
shall have the right to litigate, settle or otherwise dispose of any such Claim; provided, however, that no Party shall
have the right to settle a Claim in a manner that would adversely affect the rights granted to the other Party hereunder, or would
materially conflict with this Agreement, or would require a payment by the Party, or adversely affect the Party (its Affiliates)
or its products in or outside the territory, without the prior written consent of the Party entitled to control the defense of
such Claim, which consent shall not be unreasonably withheld.

 

    26

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		12.4	Insurance. XYNOMIC shall obtain and maintain
during the term of this Agreement reasonable and adequate general liability insurance, patients insurance and product liability
insurance. XYNOMIC shall provide to BII written proof of the existence of such insurance
upon request.

 

		13	TERM AND TERMINATION; CONSEQUENCES OF TERMINATION.

 

		13.1	Term and Termination. 

 

		13.1.1	Term. This Agreement shall become effective as of the Effective Date and shall expire on
a Product-by-Product and country-by-country basis upon the expiration of the Royalty Term of a Product in a country (such period,
the “Term”).

 

		13.1.2	Termination for Convenience. XYNOMIC shall
have the right to terminate this Agreement at its own discretion at any time by providing [****] prior written notice
to BII.

 

		13.1.3	Termination for Cause.

 

		13.1.3.1	In the event that either Party (“Breaching Party”) commits a material breach
or default of any of its obligations hereunder, such material breach to include a breach by XYNOMIC
of the Development and diligence obligations under Section 4, the other Party hereto (“Non-Breaching Party”)
may give the Breaching Party written notice of such material breach or default, and shall request that such material breach or
default be cured as soon as reasonably practicable. In the event that the Breaching Party fails to cure such breach or default
within [****] after the date of the Non-Breaching Party’s written notice thereof (in the event of default of payment
within [****] after the date of the Non-Breaching Party’s notice), the Non-Breaching Party may terminate this Agreement
by giving written notice of termination to the Breaching Party. In the event the Breaching Party indicates in writing that it will
be unable or is unwilling to cure the breach, this Agreement may be terminated by the Non-Breaching Party with immediate effect.

 

    27

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		13.1.3.2	BII may terminate this Agreement in the event XYNOMIC
or any of its Affiliates directly or indirectly challenges the validity of the Assigned Patents in a legal proceeding or
supports a Third Party in the challenge of an Assigned Patent in a legal proceeding (in each case before a court of competent
jurisdiction). In the event a Sublicensee of XYNOMIC challenges the validity of
an Assigned Patent, BII may terminate this Agreement hereunder, if XYNOMIC does
not terminate such sublicense agreement with immediate effect.

 

		13.2	Consequences of Termination.

 

		13.2.1	Expiration. Upon expiration of this Agreement, XYNOMIC
shall, on a Product-by-Product and country-by-country basis, retain a perpetual, fully paid-up, non-exclusive and cost-free right
to use the Licensed Know-How solely for the Products in such country and in the Field.

 

		13.2.2	Termination for convenience by XYNOMIC or for
cause by BII. If this Agreement is terminated by XYNOMIC
in accordance with Section 13.1.2 or by BII in accordance with Section 13.1.3, then,
to the extent permitted by Applicable Laws:

 

		(I)	[****]

 

		(II)	[****]

 

		(III)	[****]

 

		13.2.2.1	BII shall have the right to request [****]

 

		13.2.3	Termination for Cause by XYNOMIC. If this
Agreement is terminated by XYNOMIC in accordance with Section 13.1.3, the licenses
granted by BII to XYNOMIC hereunder
shall continue in full force and effect, on a perpetual irrevocable basis, sublicenseable in multiple tiers, in accordance with
Section 2; and XYNOMIC may choose (in such case as its sole remedy) to continue
to Develop, Manufacture and Commercialize the Compound and Products in the Field in the Territory under all rights and licenses
granted by BII hereunder, provided that any subsequent royalty and milestone payment obligations under Section 8 of this
Agreement shall be [****].

 

		13.2.4	Accrued Obligations. Termination of this Agreement for any reason whatsoever shall not relieve
either Party from its obligations (monetary or otherwise) which have accrued prior to, but remain unsettled or unpaid as of, the
date of expiration or termination hereof, or which accrue thereafter, in accordance with Section 13.2.6 hereof. Upon termination
of this Agreement any accrued payment obligations shall become immediately due and payable.

 

		13.2.5	Termination for Cause. Subject to Section 13.2.3, termination of this Agreement in accordance
with Section 13.1.3 shall not affect or impair the Non-Breaching Party’s right to pursue any legal remedy, including the
right to recover damages, for any harm suffered or incurred by the Non-Breaching Party as a result of such breach or default.

 

		13.2.6	Survival. Sections 1, 9, 10, 11, 13.2, and 15.3 through 15.10, inclusive, shall survive
the expiration or termination of this Agreement.

 

    28

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		14	GOVERNMENT APPROVALS. 

 

Government Approvals. As of and
after the Effective Date, XYNOMIC and BII
will reasonably cooperate and use respectively all Commercially Reasonable Efforts to obtain all approvals required and make all
registrations, filings and applications, to give all notices and to obtain as soon as practicable all other consents, transfers,
approvals, orders, qualifications authorizations, permits and waivers, if any, and to do all other things necessary or desirable
for the consummation of the transactions as contemplated hereby.

 

		15	GENERAL
                                         PROVISIONS. 

 

		15.1	Assignment. Any right or obligation of BII under this Agreement may be assigned to and/or
exercised or performed by its Affiliates or Third Parties.

 

		15.2	Except as expressly provided herein, without the prior written consent of BII, XYNOMIC may not
sell, transfer, assign, delegate, pledge, or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise,
this Agreement or any of its rights or duties hereunder to any Third Party, provided that (a) the assignment of this Agreement
by operation of law pursuant to a merger or consolidation of XYNOMIC with or into any Third Party shall, regardless of the identity
of the surviving entity to such merger or consolidation, not be deemed an assignment in violation of this Section 15.2, (b) XYNOMIC,
without such consent, may assign its rights and delegate its duties hereunder to an Affiliate thereof without obtaining such consent,
provided that XYNOMIC agrees to remain primarily (and not secondarily or derivatively) liable for the full and timely performance
by such Affiliate of all its obligations hereunder, and (c) XYNOMIC, without such consent, may assign its rights and delegate its
duties hereunder to a successor entity or acquirer, provided that XYNOMIC agrees to remain primarily (and not secondarily or derivatively)
liable for the full and timely performance by such assignee of all its obligations hereunder. Any attempted assignment or delegation
in violation of this Section 15.2 shall be void and of no effect.

 

		15.3	All validly assigned and delegated rights and obligations of the Parties hereunder shall be binding
upon and inure to the benefit of and be enforceable by and against the successors and permitted assigns of BII or Xynomic,
as the case may be.

 

		15.4	Force majeure. If the performance of any part of this Agreement by either Party, or any
obligation under this Agreement, is prevented, restricted, interfered with or delayed by reason of any cause beyond the reasonable
control of the Party liable to perform (including fires, floods, earthquakes, hurricanes, embargoes, shortages, epidemics, quarantines,
war, acts of war (whether war be declared or not), terrorist acts, insurrections, riots, civil commotion, strikes, lockouts, or
other labor disturbances (whether involving the workforce of the non-performing Party or of any other Person), acts of God or acts,
omissions or delays in acting by any governmental authority (except to the extent such delay results from the breach by the non-performing
Party or any of its Affiliates of any term or condition of this Agreement)), unless conclusive evidence to the contrary is provided,
the Party so affected shall, upon giving written notice to the other Party, be excused from such performance to the extent of such
prevention, restriction, interference or delay, provided that the affected Party shall use its Commercially Reasonable Efforts
to avoid or remove such causes of non-performance and shall continue performance with the utmost dispatch whenever such causes
are removed. When such circumstances arise, the Parties shall discuss what, if any, modification of the terms of this Agreement
may be required in order to arrive at an equitable solution.

 

    29

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		15.5	Notices. All notices hereunder shall be in writing in the English language and shall be
delivered by personal delivery, by registered mail / international courier, or by facsimile and confirmed by registered mail /
international courier on the next Business Day after the transmission, and shall be deemed given (a) on the date of delivery if
delivered by personal delivery on a Business Day; (b) on the third Business Day from and including the day of sending in the case
of a delivery by registered mail / international courier; or (c) on the next Business Day following the day of transmission in
the case of a delivery by facsimile (confirmed by a copy sent as provided above). All notices shall be given:

 

if to BII,
addressed to:

 

Boehringer
Ingelheim International GmbH

 

Boehringer
Ingelheim Corporate Center GmbH

 

Attn: Head, Strategic Transactions
& Alliance Management

Binger Strasse 173

55216 Ingelheim am Rhein, Germany

 

With
a copy to:

 

Boehringer
Ingelheim Corporate Center GmbH

Head of
Corporate Legal

Binger
Strasse 173

55216
Ingelheim am Rhein, Germany

 

if to XYNOMIC,
addressed to:

 

2842 Catalino Street

San Mateo, CA 94403, USA

Attention: CEO

Facsimile: (650) 435-5938

 

With a copy to:

 

Sidley Austin LLP

787 Seventh Avenue

New York, NY 10019

Attention: Wendy Pan, Partner

Fax: +1 212 839 5599

 

    30

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

		15.6	Governing law. This Agreement and all disputes arising
hereunder, shall be exclusively governed by, and interpreted and enforced in accordance with the laws of the State of New York,
the United States, without regard to its conflict of law rules; provided, that all questions concerning the construction
or effect of patent applications and patents shall be determined in accordance with the laws of the country or other jurisdiction
in which the particular patent application or patent has been filed or granted, as the case may be. The Parties agree to exclude
the application to this Agreement of the United Nations Convention on Contracts for the International Sale of Goods.

 

		15.7	Jurisdiction. Any controversy or claim arising out of or under this Agreement, or the breach
thereof, which is not settled under the procedures set forth in the appropriate provisions of Section 8.10 will be finally resolved
by binding arbitration, held in New York City, New York, and administered by the American Arbitration Association under its Commercial
Arbitration Rules. Judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
If the Parties cannot mutually agree on a single arbitrator, the Parties will make reasonable efforts to appoint three (3) arbitrators,
who are each mutually acceptable to BII and Xynomic, within [****]
of the initiation of the arbitration; in the event they are unsuccessful and do not agree to extend the time period, the arbitrators
will be appointed in accordance with the rules.  The Parties will share the expenses for the arbitrators, but will otherwise
be responsible for their own fees in relation to such arbitration.  Until such time as arbitrators are appointed, the Parties
may seek judicial relief for interim measures, such as injunctive relief, in any court having competent jurisdiction. For clarity,
the arbitrators will not have authority or discretion to decide any matter other than the matter for decision before them, and
any such decision will not include any award or determination which would amend the applicable terms of this Agreement.

 

		15.8	Severability. If any provision of this Agreement
is determined by any court or administrative tribunal of competent jurisdiction to be invalid or unenforceable, the Parties shall
negotiate in good faith a replacement provision that is commercially equivalent, to the maximum extent permitted by Applicable
Laws, to such invalid or unenforceable provision. The invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of the other provisions of this Agreement. Nor shall the invalidity or unenforceability of
any provision of this Agreement in one country or jurisdiction affect the validity or enforceability of such provision in any other
country or jurisdiction in which such provision would otherwise be valid or enforceable.

 

		15.9	Entire Agreement and Amendments. This Agreement, together with all Exhibits attached hereto,
constitutes the entire agreement between the Parties regarding the subject matter hereof, and supersedes all prior agreements,
understandings and communications between the Parties, with respect to the subject matter hereof. No modification or amendment
of this Agreement shall be binding upon the Parties unless in writing and executed by the duly authorized representative of each
of the Parties; this shall also apply to any change of this Section.

 

		15.10	Waivers. The failure by either Party hereto to assert any of its rights hereunder, including
the right to terminate this Agreement due to a breach or default by the other Party hereto, shall not be deemed to constitute a
waiver by that Party of its right thereafter to enforce each and every provision of this Agreement in accordance with its terms.

 

		15.11	Independent Contractors. The Parties are independent contractors and this Agreement shall
not constitute or give rise to an employer-employee, agency, partnership or joint venture relationship among the Parties and each
Party’s performance hereunder is that of a separate, independent entity.

 

		15.12	Headings. The headings are placed herein merely as a matter of convenience and shall not
affect the construction or interpretation of any of the provisions of this Agreement.

 

		15.13	Counterparts; Facsimile Execution. This Agreement may
be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. This Agreement may be executed by facsimile or electronically transmitted signatures and such signatures
shall be deemed to bind each Party hereto as if they were original signatures.

 

- signature page follows –

 

    31

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

IN WITNESS WHEREOF, this Agreement has
been signed by the Parties hereto in two originals, each Party acknowledging receipt of one original.

 

	Boehringer Ingelheim International GmbH	XYNOMIC Pharmacuticals, Inc.
	 	 
	By:	/s/ Jürgen Beck	 	By:	/s/ Yinglin Mark Xu
	Name:  	Jürgen Beck	 	Name: 	Yinglin Mark Xu
	Title:	Global Head of STAM	 	Title:	Chairman and Chief Executive Officer
	Date:	August 9, 2017	 	Date:	August 16, 2017

 

	By:	/s/ Dorothee Schwall-Rudolph	 
	Name: 	Dorothee Schwall-Rudolph	 
	Title:	Head of Corp. Legal IU and BD	 
	Date:	August 9, 2017	 

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Exhibit 1.5

Assigned Patents

 

[****]

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Exhibit 1.25

Development Compound

 

BI 882370

[****]

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Exhibit 2.1

Assignment Form

 

PATENT ASSIGNMENT

 

THIS ASSIGNMENT is made on [Date]between

 

Boehringer Ingelheim International GmbH (“BII”),
a German limited liability company, with offices at Binger Straße 173, 55216 Ingelheim am Rhein, Germany

 

And

 

Xynomic Pharmaceuticals, Inc. (“XYNOMIC”),
a Wyoming corporation with offices at 1910 Thames Avenue, Cheyenne, WY 82001

 

WHEREAS BII owns and controls certain patents and patent
applications related to FAK inhibitor.

 

NOW THEREFORE
in consideration of the premises contained herein and for other valuable consideration that has been exchanged, XYNOMIC
requests and the BII HEREBY ASSIGNS to XYNOMIC, [****]

 

EXECUTED the date and year first above written

 

Boehringer Ingelheim International GmbH

Ingelheim, Date

 

by

 

	ppa.	ppa. 

 

Authorized Signatories

 

Xynomic

 

by

 

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Annex 1 to the Patent Assignment

 

[****]

 

 

 

 

 

 

 

 

 

 

 

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Exhibit 3

 

Transfer Data

 

[****]

 

 

 

 

 

 

 

 

 

 

 

 

     

    
****Text Omitted and Filed Separately with the Securities and Exchange
Commission. Confidential Treatment Requested Under
17 C.F.R. Section  230.406

    

 

Exhibit 4.2

 

Xynomic
BI 882370 Development Plan

 

[****]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]