Document:

EX-10.1

 Exhibit 10.1 

Execution Copy 
 CERTAIN CONFIDENTIAL
INFORMATION INDICATED BY “[***]” HAS BEEN OMITTED FROM THE FILED COPY OF THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 

SHARE PURCHASE AGREEMENT 

dated as of 28 June 2021 

between 
  

			
	 Paolo Galfetti
 Via delle Ginestre 6, IT-22063 Cantù (CO), Italy
	  	
		
		  	(the “Seller 1”)
		
	Giorgio Reiner	  	
		
		  	(the “Seller 2”)
		
	Alessandro Bossi	  	
		
		  	(the “Seller 3”)
		
	Massimo Poletti	  	
		
		  	(the “Seller 4”)
		
	Onelife AG	  	
		
		  	(the “Seller 5”)
		
	Dr. Thomas M. Rinderknecht	  	
		
		  	(the “Seller 6”)
		
	HBM BioCapital II LP	  	
		
		  	(the “Seller 7”)

			
		  	
 2

  

			
	AKT s.r.l.	  	
		
		  	(the “Seller 8”)
		
	Valentina Reiner	  	
		
		  	(the “Seller 9”)
		
	Jacques Gonella	  	
		
		  	(the “Seller 10”)
		
	Enrico Braglia	  	
		
		  	(the “Seller 11”)
		  	(Seller 1 through Seller 11 together the “Sellers”
		  	and each individually a “Seller”)
		
	and	  	
		
	RELIEF THERAPEUTICS Holding SA	  	
	avenue de Sécheron 15, CH-1202 Geneva, Switzerland	  	
		
		  	(the “Buyer”)

 regarding the sale and purchase of all shares in 

APR Applied Pharma Research SA 

			
		  	
 3

  

 TABLE OF CONTENT 
  

							
	PREAMBLE	  	 	6	 
			
	1.	  	DEFINITIONS AND INTERPRETATION	  	 	7	 
			
	 1.1
	  	DEFINITIONS	  	 	7	 
	 1.2
	  	INTERPRETATION	  	 	7	 
			
	 2.
	  	SALE AND PURCHASE	  	 	7	 
			
	 3.
	  	PURCHASE PRICE	  	 	7	 
			
	 3.1
	  	CASH AMOUNT, PAYMENT SHARES AND MILESTONES	  	 	7	 
	 3.2
	  	PAYMENT OF THE PURCHASE PRICE	  	 	8	 
	 3.3
	  	ESCROW	  	 	9	 
	 3.4
	  	SELLERS’ LOCK-UP AND LEAK-OUT	  	 	9	 
	 3.5
	  	DILIGENCE OBLIGATIONS REGARDING MILESTONES	  	 	10	 
			
	 4.
	  	ACTIONS BETWEEN SIGNING AND CLOSING	  	 	10	 
			
	 4.1
	  	IN GENERAL	  	 	10	 
	 4.2
	  	PRE-CLOSING COVENANTS OF THE SELLERS	  	 	11	 
			
	5.	  	CONDITIONS PRECEDENT TO CLOSING	  	 	12	 
			
	 5.1
	  	CONDITIONS TO THE OBLIGATIONS OF EACH PARTY	  	 	12	 
	 5.2
	  	CONDITIONS PRECEDENT REGARDING THE OBLIGATIONS OF THE BUYER	  	 	12	 
	 5.3
	  	WAIVER OF NON-SATISFIED CONDITIONS	  	 	13	 
	 5.4
	  	RIGHT OF TERMINATION	  	 	13	 
			
	6.	  	CLOSING	  	 	13	 
			
	 6.1
	  	CLOSING DATE AND PLACE	  	 	13	 
	 6.2
	  	ACTIONS BY THE SELLERS	  	 	13	 
	 6.3
	  	ACTIONS BY THE BUYER	  	 	14	 
	 6.4
	  	SIMULTANEOUS CLOSING ACTIONS	  	 	14	 
	 6.5
	  	CLOSING CONFIRMATION	  	 	15	 
	 6.6
	  	BENEFIT AND RISK	  	 	15	 
			
	7.	  	POST-CLOSING SHARE TRANSFER	  	 	15	 
			
	 7.1
	  	TRANSFER CONDITIONS	  	 	15	 
	 7.2
	  	TRANSFER DATE	  	 	15	 
	 7.3
	  	TRANSFER OF BUYER SHARES	  	 	15	 
	 7.4
	  	BENEFIT AND RISK	  	 	15	 
			
	8.	  	REPRESENTATIONS AND WARRANTIES OF THE SELLERS	  	 	16	 
			
	 8.1
	  	INCORPORATION AND AUTHORITY	  	 	16	 
	 8.2
	  	SHARES	  	 	16	 
	 8.3
	  	INCORPORATION AND QUALIFICATION	  	 	18	 
	 8.4
	  	LITIGATION	  	 	19	 
	 8.5
	  	FINANCIAL STATEMENTS	  	 	19	 
	 8.6
	  	TAXES	  	 	21	 
	 8.7
	  	ASSETS	  	 	22	 
	 8.8
	  	COMPLIANCE	  	 	22	 
	 8.9
	  	MATERIAL CONTRACTS	  	 	23	 

			
		  	
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	 8.10
	  	PERMITS	  	 	23	 
	 8.11
	  	CLINICAL TRIALS	  	 	24	 
	 8.12
	  	INSURANCE	  	 	24	 
	 8.13
	  	INTELLECTUAL PROPERTY RIGHTS	  	 	25	 
	 8.14
	  	IT SYSTEMS	  	 	26	 
	 8.15
	  	DATA PROTECTION COMPLIANCE	  	 	27	 
	 8.16
	  	MANUFACTURING AND PRODUCTS	  	 	27	 
	 8.17
	  	CONDUCT OF BUSINESS SINCE THE LAST BALANCE SHEET DATE	  	 	28	 
	 8.18
	  	EMPLOYMENT MATTERS	  	 	29	 
	 8.19
	  	SOCIAL SECURITY AND PENSIONS	  	 	30	 
	 8.20
	  	REAL ESTATE	  	 	31	 
	 8.21
	  	M&A TRANSACTIONS	  	 	31	 
	 8.22
	  	CORPORATE BOOKS	  	 	32	 
	 8.23
	  	NO BROKER’S FEES	  	 	32	 
	 8.24
	  	CERTAIN PAYMENTS	  	 	32	 
	 8.25
	  	AFFILIATES AND CONNECTED PERSONS	  	 	32	 
	 8.26
	  	FULL DISCLOSURE	  	 	32	 
			
	9.	  	REPRESENTATIONS AND WARRANTIES OF THE BUYER	  	 	33	 
			
	 9.1
	  	INCORPORATION AND AUTHORITY	  	 	33	 
	 9.2
	  	EFFECT OF EXECUTION OF AGREEMENT	  	 	33	 
	 9.3
	  	CONSENT	  	 	33	 
	 9.4
	  	PAYMENT SHARES	  	 	33	 
	 9.5
	  	MILESTONES	  	 	34	 
			
	10.	  	EXCLUSIVE REPRESENTATIONS AND WARRANTIES	  	 	34	 
			
	11.	  	REMEDIES OF BUYER FOR BREACH OF REPRESENTATIONS AND WARRANTIES	  	 	34	 
			
	 11.1
	  	SELLERS’ RIGHT TO CURE AND SELLERS’ LIABILITY	  	 	34	 
	 11.2
	  	NOTICE OF BREACH	  	 	34	 
	 11.3
	  	TERM	  	 	35	 
	 11.4
	  	THIRD-PARTY CLAIMS	  	 	35	 
	 11.5
	  	REDUCTION OF LIABILITY	  	 	35	 
	 11.6
	  	LIMITATION OF LIABILITY	  	 	36	 
	 11.7
	  	REMEDIES OF THE SELLERS	  	 	36	 
	 11.8
	  	EXCLUSIVE REMEDIES; NO RESCISSION	  	 	36	 
			
	12.	  	SPECIFIC INDEMNITIES	  	 	37	 
			
	 12.1
	  	GENERAL	  	 	37	 
	 12.2
	  	COVID LOANS	  	 	37	 
	 12.3
	  	LATE TRANSFER OF BUYER SHARES	  	 	37	 
			
	13.	  	OTHER COVENANTS	  	 	37	 
			
	 13.1
	  	CONFIDENTIALITY	  	 	37	 
	 13.2
	  	PUBLIC ANNOUNCEMENTS	  	 	38	 
	 13.3
	  	NON-COMPETITION AND NON-SOLICITATION BY CERTAIN
SELLERS	  	 	38	 
	 13.4
	  	REFUNDING OF COVID LOANS	  	 	39	 
			
	14.	  	MISCELLANEOUS	  	 	39	 

			
		  	
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	14.1	  	COSTS AND TRANSFER TAXES	  	39
	14.2	  	SELLERS’ REPRESENTATIVE	  	39
	14.3	  	NOTICES	  	40
	14.4	  	WAIVER	  	41
	14.5	  	ENTIRE AGREEMENT	  	41
	14.6	  	SEVERABILITY	  	41
	14.7	  	AMENDMENT	  	41
	14.8	  	ASSIGNMENT	  	41
	14.9	  	GOVERNING LAW	  	41
	14.10	  	JURISDICTION	  	41
		
	TABLE OF ANNEXES	  	45
		
	ANNEX D – SHAREHOLDERS	  	46
		
	ANNEX 1.1 – DEFINITIONS	  	47
		
	ANNEX 3.3 – ESCROW AGREEMENT	  	54
		
	ANNEX 6.2B) – ASSIGNMENT DECLARATION	  	55
		
	ANNEX 6.2E) – AMENDMENT AGREEMENTS TO THE EMPLOYMENT AGREEMENTS OF THE KEY EMPLOYEES	  	56
		
	ANNEX 8.5A) – FINANCIAL STATEMENTS	  	57
		
	ANNEX 8.11A) – COMPANY CLINICAL TRIALS	  	58
		
	ANNEX 8.13A) – INTELLECTUAL PROPERTY RIGHTS	  	59
		
	ANNEX 11.5A) – DISCLOSED INFORMATION	  	60

			
		  	
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 PREAMBLE 
  

	A.	 APR Applied Pharma Research SA is a corporation organized under the laws of Switzerland, registered with the
commercial register of the canton of Ticino under the company number CHE-101.714.120, with legal domicile at Via Corti 5, 6828 Balerna, Switzerland (the “Company”). The registered share capital of the Company amounts to CHF 640,596,
divided into 640,596 registered shares with a nominal value of CHF 1.00 each, all fully paid-in (each a “Share” and several or all of them the “Shares”, as the context
requires). 

  

	B.	 The main corporate purpose of the Company as set forth in its articles of association and registered with the
commercial register is the development and research of new technologies and methods in the chemical, pharmaceutical and food sectors, the registration of patents, as well as the registration of dietetic products, cosmetics and medical-surgical aids;
it also manufactures and trades medical products, equipment and facilities on an international scale and acquire, hold, use or sell patents, trademarks and other intangible rights as well as licences (the “Business”).

  

	C.	 The Company directly owns all of the 100,000 registered shares with a nominal value of CHF 1.00 each, all fully
paid-in, in APR Applied Pharma Research Holding SA Via Corti 5, a corporation organized under the laws of Switzerland, registered with the commercial register of the canton of Ticino under the company number
CHE-467.502.231 and with legal domicile at Via Corti 5, 6828 Balerna, Switzerland (the “Swiss Subsidiary”), which in turn directly owns (i) the sole share with serial number 1 and a nominal value of EUR 25,000 of APR
Applied Pharma Research Deutschland GmbH, a German limited liability company organized under the laws of Germany, registered with the commercial register of the regional court of Offenbach am Main under the company number HRB 51319 and with
legal domicile at Offenbach am Main and its registered business address at Carl-Legien-Straße 15, 63073 Offenbach am Main, Germany (the “German Subsidiary”), and (ii) the sole quota having a nominal value of
EUR 10,000 and representing 100% of the corporate capital of APR Applied Pharma Research - Italy S.r.l., a limited liability company organized under the laws of Italy, registered with the commercial register of Rome under the company number
03736410139 and with registered office at Corso Vittorio Emanuele II no. 154, 00186 Rome, Italy (the “Italian Subsidiary”; the Swiss Subsidiary, the German Subsidiary and the Italian Subsidiary each a
“Subsidiary” and together the “Subsidiaries”; each of the Subsidiaries and the Company each a “Group Company” and together the “Group Companies” or the “Group” as
the context requires). 

  

	D.	 The Sellers are the sole owners of all Shares without any encumbrances as set forth in Annex D.

  

	E.	 The Buyer is a Swiss corporation organized under the laws of Switzerland, registered with the commercial
register of the canton of Geneva under company number CHE-113.516.874, with legal domicile at avenue de Sécheron 15, CH-1202 Geneva, Switzerland. The current
registered share capital of the Buyer amounts to CHF 34,002,301.56, divided into 3,400,230,156 common registered shares with a nominal value of CHF 0.01 each, all fully paid-in (together with any other fully paid-in registered shares of the Buyer yet to be issued out of its authorized share capital to complete the transactions envisaged under this Agreement, each a “Buyer Share” and several or
all of them the “Buyer Shares”, as the context requires). 

			
		  	
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	F.	 The Buyer is active as a biopharmaceutical company with its lead compound
RLF-100TM (Aviptadil) in advanced clinical development to treat severe COVID-19 patients. 

 

	G.	 Prior to the Signing Date, the Buyer has conducted and completed a Due Diligence on the Group Companies.

  

	H.	 The Sellers wish to sell to the Buyer and the Buyer wishes to purchase from the Sellers all the Shares pursuant
to the terms and conditions of this Agreement. 

 Therefore, the Sellers and the Buyer (each a “Party” and together the
“Parties”) have come to the following agreement: 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Definitions 

Capitalized terms shall have the meaning assigned to such terms in Annex 1.1. 

 

	1.2	 Interpretation 

  

	 	a)	 Unless the context otherwise requires, words denoting the singular shall include the plural and vice versa and
references to any gender shall include all other genders. 

  

	 	b)	 Whenever the words “include”, “includes”, “including” and “in
particular” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. 

  

	 	c)	 Any reference to “writing” or “written” includes any legible reproduction of words
delivered in permanent and tangible form, including PDF files transmitted by e-mail (but does not include plain e-mail). 

 

	 	d)	 Preambles are an integral part of this Agreement. 

 

	2.	 SALE AND PURCHASE 

Subject to the terms and conditions of this Agreement, each of the Sellers hereby sells and undertakes to transfer and assign at Closing to the
Buyer, and the Buyer hereby purchases and undertakes to accept the transfer and assignment at Closing from the Sellers, of all of the Shares held by the respective Seller free and clear from any encumbrances. The Shares are sold and will at Closing
be transferred together with all ancillary rights including the right to profits which have not yet been distributed. 
  

	3.	 PURCHASE PRICE 

 

	3.1	 Cash Amount, Payment Shares and Milestones 

The aggregate maximum purchase price for all the Shares shall consist of: 

 

	 	a)	 a fixed cash amount of CHF 21,500,000 (the “Cash Amount”); plus 

 

	 	b)	 a fixed price of CHF 45,000,000 solely payable in Buyer Shares (the “Payment Shares”), being
computed as the product of the 20 Day VWAP preceding and including 25 June 2021, multiplied by the number of Buyer Shares to equal CHF 45,000,000 (with any fractions of Buyer Shares to be rounded up); plus 

			
		  	
 8

  

	 	c)	 4 (four) possible future contingent milestone payments in the aggregate maximum amount of up to CHF 35,000,000,
upon the achievement of specific objectives as follows (each a “Milestone” and together the “Milestones”): 

  

	 	i)	 CHF 7,000,000 upon the execution of the first definitive agreement for the commercialization of APR-AOS2020 (including but not limited to Sentinox); 

  

	 	ii)	 CHF 7,000,000 upon the Launch of APR-AOS2020 (including but not limited
to Sentinox) in the first of the big five European countries (France, Germany, Spain, Italy, United Kingdom); 

  

	 	iii)	 CHF 7,000,000 upon the Launch of Golike in the United States of America; and 

 

	 	iv)	 CHF 14,000,000 upon the Launch of APR-TD011 in the first of the big
five European countries (France, Germany, Spain, Italy, United Kingdom), 

 (Cash Amount, Payment Shares and Milestones
together the “Purchase Price”). 
 Each of the Milestones i), ii) and iii) hereinabove (if achieved) shall be payable as
follows: (a) 40% (forty percent) in cash in CHF and (b) 60% (sixty percent) in Buyer Shares, being computed as the product of the 20 Day VWAP preceding and including the date of the achievement of the Milestone, multiplied by the number of
Buyer Shares to equal the amount of the relevant Milestone (with any fractions of Buyer Shares to be rounded up). 
 The Milestone iv)
hereinabove (if achieved) shall be payable as follows: (a) 25% (twenty-five percent) in cash in CHF and (b) 75% (seventy-five percent) in Buyer Shares, being computed as the product of the 20 Day VWAP preceding and including the date of the
achievement of the Milestone, multiplied by the number of Buyer Shares to equal the amount of such Milestone (with any fractions of Buyer Shares to be rounded up). 
  

	3.2	 Payment of the Purchase Price 

On the Closing Date, the Buyer shall pay the Cash Amount, by electronic transfer in immediately available funds, to the bank account of the
Sellers as set forth below (the “Sellers’ Bank Account”): 
 [***] 

At the Transfer Date, the Buyer shall: 
  

	 	a)	 transfer the Payment Shares less the Escrow Shares (the “Share Transfer”), by electronic
transfer of the relevant number of Buyer Shares to the securities account of the Sellers notified by the Sellers to the Buyer no later than 10 (ten) Business Days prior to the Transfer Date (the “Sellers’ Securities
Account”); and 

  

	 	b)	 transfer the Escrow Shares, by electronic transfer of the relevant number of Buyer Shares, to the Escrow
Account. 

 The Sellers will allocate the Cash Amount, the Share Transfer and any releases of Escrow Shares constituting
part of the Purchase Price among themselves at their sole discretion, whereas the Buyer shall be fully released and discharged from its respective payment and transfer obligations upon crediting of such payment or transfer on the Sellers’ Bank
Account and Sellers’ Securities Account, respectively, and, accordingly, there shall be no liability or duty whatsoever by the Buyer in connection with such allocation among the Sellers. 

			
		  	
 9

  

 The Buyer shall notify the Sellers within 5 (five) Business Days of the achievement of a
Milestone event. Any Milestone payments shall be made within 15 (fifteen) Business Days upon the achievement of such Milestone (as documented reasonably satisfactory to the Buyer) (i) with respect to the cash portion, to the Sellers’ Bank
Account or any other joint bank account of the Sellers duly notified by the Sellers within 5 (five) Business Days upon receipt of the Milestone notice from Buyer, and (ii) with respect to the Buyer Share portion, to the Sellers’ Securities
Account or any other joint securities account of the Sellers duly notified by the Sellers within 5 (five) Business Days upon recipt of the Milestone notice from Buyer. 
  

	3.3	 Escrow 

As a security for any claims of the Buyer under this Agreement, the Buyer shall transfer at the Transfer Date an amount of CHF 4,000,000
in Payment Shares, being computed as the product of the 20 Day VWAP preceding and including 25 June 2021, multiplied by the number of Buyer Shares to equal CHF 4,000,000 (with any fractions of Payment Shares to be rounded up) (the
“Escrow Shares”) to a securities account opened in the name of the Escrow Agent (the “Escrow Account”), on which the Escrow Shares shall be kept in escrow under the terms of an escrow agreement to be entered into by
all the Sellers except for Sellers 9 through 11, the Buyer and the Escrow Agent, substantially in the form as set forth in Annex 3.3, to be executed at the Transfer Date (the “Escrow Agreement”). 

12 (twelve) months after the Closing Date, the balance of the Escrow Account, less the amount of any claim under a Notice of Breach delivered
by the Buyer to the Seller pursuant to Section 11.2 shall be released to the Sellers by transfer to the Sellers’ Securities Account, with the remainder remaining in Escrow until the claim is acknowledged or adjudicated. 

Any transfer of Escrow Shares to either Party shall be made promptly on the day the obligation to release such Escrow Shares arises or –
if such day is not a Business Day – on the next Business Day thereafter. 
 The fees and expenses of the Escrow Agent shall be borne
equally by the Parties (i.e., 50% by the respective Sellers and 50% by the Buyer). 
 Any release of Escrow Shares to the Buyer from the
Escrow Account for the compensation of any claim under a Notice of Breach delivered by the Buyer to the Seller pursuant to Section 11.2, shall be computed as the product of the 20 Day VWAP preceding and including the date in which the
claim has been formally acknowledged or adjudicated. 
  

	3.4	 Sellers’ Lock-Up and
Leak-Out 

 Subject to all applicable securities Laws and obligations thereunder
applicable to them, including to those related to the possession of material non-public (i.e., insider) information, and all applicable stock exchange rules and regulations, the Sellers shall be permitted to
sell any Payment Shares acquired under this Agreement as follows: 
  

	 	a)	 Except only as set forth in lit. d) hereinafter, during the first 75 calendar days subsequent to the
Transfer Date (the “Lock-Up Period”), each Seller shall refrain from any sales of any Buyer Shares; 

			
		  	
 10

  

	 	b)	 During the 90 calendar days following the end of the Lock-Up Period
(the “Leak-Out Period”), the Sellers collectively (and any Seller individually only up to his/its ratable shareholding among the Sellers as set forth in Annex D)
shall be permitted to carry out sales of Payment Shares (i) not exceeding per Trading Day 10% of the 90-day average trading volume of Buyer Shares at the SIX Swiss Exchange, and (ii) collectively for
all Sellers together limited to an aggregate amount of CHF 20,000,000 during the entire Leak-Out Period; and 

  

	 	c)	 After the Leak-Out Period, each Seller shall be permitted to carry out
any sales of any Payment Shares acquired under this Agreement; 

  

	 	d)	 As the sole exception to the restrictions set forth in lit. a) hereinabove, during the Lock-Up Period, for tax
purposes only, Qualifying Sellers collectively (and any Qualifying Seller individually only up to his/its ratable shareholding among the Sellers as set forth in Annex D) shall be permitted to carry out sales of Buyer Shares
(i) not exceeding per Trading Day 10% of the 90-day average trading volume of Buyer Shares at the SIX Swiss Exchange, and (ii) collectively for all Sellers together limited to an aggregate maximum
number of 25,000,000 Buyer Shares. 

  

	3.5	 Diligence Obligations regarding Milestones 

The Buyer, itself or through one or more of its Affiliates, licensees and sublicensees (including the Company or any successor corporation or
entity), shall use commercially reasonable efforts to enable the Milestones being reached if, to the extent and when this is commercially, scientifically, technically and practicably feasible in line with market standards and best practice of
clinical development. The Buyer may, for reasons set out hereinabove, abandon, suspend or stop any Milestone project, in which case the respective Milestone is deemed not achieved and the Sellers shall not have any right to receive any payment in
relation to such Milestone. The sale (including licensing, divestment, transfer) and any other disposition of any Milestone project to a third party shall be deemed to be an achievement of such Milestone and the Sellers shall have the right to
receive the agreed payment in relation to such Milestone. The Buyer shall provide prompt written notice to the Sellers, if the Buyer has resolved to abandon, suspend, stop, sell or otherwise dispose of any of the Milestone projects. 

From the Closing Date until the date on which all Milestones are achieved and fully paid, within 30 (thirty) calendar days after the end of
each calendar half year, the Buyer shall deliver to the Sellers a written report (a “Progress Report”) summarizing, to the extent permitted by applicable Law and stock exchange rules and regulations, in reasonable detail and on a
reasonably current basis all material developments relating to the development of, regulatory approval for, manufacture and Launch of all the products being subject of a Milestone that have occurred prior to the date of such Progress Report. 

 

	4.	 ACTIONS BETWEEN SIGNING AND CLOSING 

 

	4.1	 In General 

The Sellers, and the Buyer with respect to Sections 5.1a) and 5.1b), shall use their best efforts to procure that the conditions precedent
set forth in Sections 5.1 and 5.2 (the “Closing Conditions”) will be satisfied on or before the Closing Date. 

			
		  	
 11

  

	4.2	 Pre-Closing Covenants of the Sellers 

Between the Signing Date up to and including the Closing Date, except where the prior written consent of the Buyer is obtained, the Sellers
shall cause the Group to conduct its business, and the Group will be managed, in the ordinary and usual course of business consistent with past practice and in compliance with all applicable Laws and regulations. 

Without limiting the foregoing, from the Signing Date up to and including the Closing Date, except where the prior written consent of the Buyer
is obtained, or the relevant action is in the ordinary and usual course of business consistent with past practice and in compliance with all applicable Laws and regulations, the Sellers shall not, and shall procure that the Group Companies do not:

  

	 	(i)	 adopt or propose any change to its constitutional or corporate documents (including articles of association and
internal regulations) or resolve its winding up or liquidation; 

  

	 	(ii)	 issue or sell any shares or other securities or any options, warrants or rights to acquire any shares or other
securities; 

  

	 	(iii)	 resolve on, declare, make or pay any dividend or other distribution, payable in cash, stock or otherwise;

  

	 	(iv)	 transfer any shares or other securities that are directly or indirectly held by the Company to a third party;

  

	 	(v)	 merge or consolidate with any other Person, acquire or dispose assets at an individual price of more than CHF
100,000 or effect any business combination, recapitalization or similar transaction; 

  

	 	(vi)	 sell, license out, abandon or otherwise dispose of any IP Rights or cause any of such IP Rights expire, be
abandoned or revoked or have not been maintained effective by all requisite filings, renewals and payments to the relevant Governmental Authority; 

  

	 	(vii)	 create, incur or allow to be created any Lien on any IP Rights or assets; 

 

	 	(viii)	 create, incur or assume any indebtedness in excess of CHF 100,000 in the aggregate; 

 

	 	(ix)	 make, increase or extend any loan or advance or grant any credit or guarantee to or in favour of any third
party in excess of CHF 100,000 per item; 

  

	 	(x)	 make any material change in the terms of employment of any director, officer or employee of a Group Company
other than in accordance with past practice or contractual commitments existing at the Signing Date; 

  

	 	(xi)	 form, enter into, vary, terminate or withdraw from any material partnership, consortium or joint venture;

  

	 	(xii)	 make any material change to its accounting procedures, principles or practices in effect at the Signing Date;

  

	 	(xiii)	 make or commit to make any unbudgeted capital expenditure in excess of CHF 100,000 per item or, CHF 200,000 in
the aggregate; 

			
		  	
 12

  

	 	(xiv)	 do anything or omit to do anything that could inhibit or impair the consummation of the transactions
contemplated by this Agreement; 

  

	 	(xv)	 enter into any transaction between the Seller on the one hand and a Group Company on the other hand;

  

	 	(xvi)	 institute or settle any litigation which is material to a Group Company or where the amount in dispute exceeds
CHF 100,000; 

  

	 	(xvii)	 enter into, amend, modify or give notice of, or consent to, the termination of any material agreement or amend,
waive, modify, terminate or consent to the termination of any of a Group Company’s rights thereunder; 

  

	 	(xviii)	 do or omit anything which would be reasonably likely to have a Material Adverse Effect; 

 

	 	(xix)	 take any action or fail to take any action permitted by this Agreement that would result in (i) any of the
representations and warranties of the Sellers set forth in this Agreement becoming untrue, inaccurate or misleading in any respect or (ii) any of the Closing Conditions not being satisfied; or 

 

	 	(xx)	 agree or commit to do any of the foregoing. 

 

	5.	 CONDITIONS PRECEDENT TO CLOSING 

 

	5.1	 Conditions to the Obligations of each Party 

The respective obligations of the Parties to effect the Closing as provided in Section 6 shall be subject to the satisfaction or waiver
(where permissible) of all of the following Closing Conditions: 
  

	 	a)	 All governmental approvals (other than the approval as set forth in Section 7.1a)) shall have been
obtained or, where relevant, any waiting period under the applicable merger control or foreign investment Laws shall have expired or been terminated by the competent authorities; 

 

	 	b)	 No action shall be pending and no order, injunction or decree of any competent court, administrative body or
arbitration tribunal exists which seeks to enjoin, restrain, impede or levy a substantial difficulty on the consummation of the transactions contemplated hereunder; 

 

	 	c)	 Any stock option plans of any Group Company have been terminated; and 

 

	 	d)	 The employment agreements of the Key Employees shall have been amended and renewed according to the form of
Annex 6.2e). 

  

	5.2	 Conditions Precedent regarding the Obligations of the Buyer 

The obligations of the Buyer regarding the performance of the transactions contemplated under this Agreement shall be subject to the
satisfaction or waiver by the Buyer (where permissible) of all of the following Closing Conditions: 
  

	 	a)	 The representations and warranties of the Sellers made in this Agreement are in all respects true and correct
on the date on which these representations and warranties of the Sellers have been made; 

  

	 	b)	 The Sellers shall have complied in all respects with its obligations and covenants under this Agreement on or
before Closing; and 

			
		  	
 13

  

	 	c)	 No Material Adverse Effect shall have occurred. 

 

	5.3	 Waiver of Non-Satisfied Conditions 

The Parties shall inform each other forthwith upon becoming aware of any fact or matter which could reasonably be expected to constitute the non-satisfaction of any Closing Condition. The Parties shall enter into good faith negotiations on how to resolve the issue and, without prejudice to any other provision of this Agreement, each Party shall be
entitled to seek to cure at its own expense any breach. 
  

	5.4	 Right of Termination 

Should the Closing Conditions not be satisfied or waived in writing by the Party entitled to waive it on or before 30 June 2021 (the
“Long Stop Date”), each Party may terminate this Agreement by giving notice to the other Party unless the Party wishing to terminate this Agreement wilfully or grossly negligently prevented, hindered, frustrated or interfered with
the satisfaction of any or all the Closing Conditions in which case the other Party may either terminate this Agreement or waive such Closing Condition and request the consummation of the transactions contemplated by this Agreement. 

If this Agreement is terminated pursuant to this Section 5.4, such termination shall be without liability of either Party to the other
Party, provided that if such termination is the result of the wilful or grossly negligent misconduct of a Party such Party shall be liable to the other Party for any Damage incurred or sustained as a result of such misconduct. 

If this Agreement is terminated pursuant to this Section 5.4, all provisions of this Agreement shall cease to be effective except for
Section 5.4 (Right of Termination), Section 13.1 (Confidentiality), Section 13.2 (Public Announcements) and Section 14 (Miscellaneous). 
  

	6.	 CLOSING 

  

	6.1	 Closing Date and Place 

Subject to the provisions contained herein, the closing of the transactions contemplated in this Agreement (the “Closing”)
shall take place immediately following the fulfilment of the Closing Conditions, but latest on the Long Stop Date, or on another date mutually agreed on by the Parties (the “Closing Date”). 

The Closing shall take place at the offices of BMA Brunoni Mottis & Associati studio legale SA in Lugano or at such other location as
the Parties may agree. 
  

	6.2	 Actions by the Sellers 

At Closing, the Sellers shall simultaneously with the actions of the Buyer pursuant to Section 6.3 deliver to the Buyer or, as the case
may be, procure Closing actions as follows: 
  

	 	a)	 a certified copy of each power of attorney under which any of the documents referred to in this
Section 6.2 are executed, including evidence reasonably satisfactory to the Buyer of the authority of any Person signing on behalf of the Sellers; 

			
		  	
 14

  

	 	b)	 written assignment declarations in original regarding the transfer of all the Shares free and clear of any
Liens from the Sellers to the Buyer (substantially in the form attached hereto as Annex 6.2b)), duly executed by the Sellers; 

  

	 	c)	 (i) the updated share register of the Company including the registration of the Buyer as the new owner of all
Shares, (ii) the updated beneficial owner register of the Company, and (iii) the updated beneficial owner register of the Swiss Subsidiary; 

  

	 	d)	 a board resolution of the Company approving the transfer of the Shares to the Buyer and approving the
registration (i) of the Buyer in the share register of the Company as sole new shareholder of the Company and (ii) of the beneficial owner notified by the Buyer (none) in the beneficial owner register of the Company; 

 

	 	e)	 the duly signed amendment agreements to the employment agreements of the Key Employees substantially in the
form attached hereto as Annex 6.2e), in original; and 

  

	 	f)	 the duly signed resignation letters in original by all members of the board of directors and management board
of the Company and the Swiss Subsidiary (in each case except for Seller 1); such resignations shall confirm that the resigning persons resign with immediate effect as of the Closing Date, have no claims against the Group Companies and waive any
rights and claims of any kind against the Group Companies. 

  

	6.3	 Actions by the Buyer 

At Closing, the Buyer shall: 
  

	 	a)	 pay the Cash Amount to the Sellers’ Bank Account; 

 

	 	b)	 deliver the notifications regarding its beneficial owner (none) in original pursuant to art. 697j CO to the
Sellers (acting on behalf of the Company and the Swiss Subsidiary, respectively); and 

  

	 	c)	 deliver a certified copy of each power of attorney under which any of the documents referred to in this
Section 6.3 are executed, including evidence reasonably satisfactory to the Sellers of the authority of any person signing on behalf of the Buyer. 

  

	6.4	 Simultaneous Closing Actions 

The Closing actions of the Sellers and the Buyer pursuant to Sections 6.2 and 6.3 shall take place simultaneously. The Closing is subject
to the Closing Conditions having been satisfied or (where permissible) waived and all the Closing actions in Sections 6.2 and 6.3 having been completed. 

If the Closing cannot be completed and the respective missing Closing action has not been waived by the respective Party in writing, then all
Closing actions or declarations that have already been made or fulfilled shall be deemed null and void (but without affecting the validity and binding effect of this Agreement). In this event, the Parties undertake to reinstate forthwith the status
as it was immediately before the Closing and to return, retransfer and reassign respectively any documents delivered or any payments or assets already transferred prior to or during the Closing. 

			
		  	
 15

  

	6.5	 Closing Confirmation 

At the Closing, the Parties shall execute a Closing confirmation, jointly prepared by the Parties prior to Closing, which shall serve as
evidence for the consummation of the Closing actions (the “Closing Confirmation”). 
  

	6.6	 Benefit and Risk 

Subject to the provisions of this Agreement and subject to the occurrence of the Closing, the commercial benefit and risk with regard to the
Shares shall pass to the Buyer with effect as of the Closing Date. 
  

	7.	 POST-CLOSING SHARE TRANSFER 

 

	7.1	 Transfer Conditions 

The obligation of the Buyer to effect the transfer of Buyer Shares as provided in Section 7.3 shall be subject to the satisfaction or
waiver (where permissible) of all of the following conditions precedent (the “Transfer Conditions”): 
  

	 	a)	 All governmental approvals shall have been obtained or, where relevant, any waiting period under the applicable
merger control or foreign investment Laws shall have expired or been terminated by the competent authorities, including, in particular, any approval by the SIX Swiss Exchange regarding pro-forma financial
information, new (consolidated) financial statements and any listing prospectus or equivalent disclosure, if and to the extent applicable, and by the Swiss Federal and Geneva cantonal commercial register authorities; and 

 

	 	b)	 No action shall be pending and no order, injunction or decree of any competent court, administrative body or
arbitration tribunal exists which seeks to enjoin, restrain, impede or levy a substantial difficulty on the consummation of the transactions contemplated hereunder. 

The Buyer shall use its best efforts to procure that the Transfer Conditions will be satisfied on or before the Transfer Date. 

 

	7.2	 Transfer Date 

Subject to the provisions contained herein, the Share Transfer shall take place within 10 (ten) Business Days following fulfilment of the
Transfer Conditions, but latest on 30 September 2021, or on another date mutually agreed on by the Parties (the “Transfer Date”). 
  

	7.3	 Transfer of Buyer Shares 

At the Transfer Date, the Buyer shall: 
  

	 	a)	 make the Share Transfer to the Sellers’ Securities Account; and 

 

	 	b)	 transfer the Escrow Shares to the Escrow Account. 

 

	7.4	 Benefit and Risk 

Subject to the occurrence of the Share Transfer, the commercial benefit and risk with regard to the Payment Shares shall pass to the Sellers
with effect as of the Transfer Date. 

			
		  	
 16

  

	8.	 REPRESENTATIONS AND WARRANTIES OF THE SELLERS 

The Sellers represent and warrant with effect as of the Signing Date and as of the Closing Date the following: 

 

	8.1	 Incorporation and Authority 

 

	 	a)	 Each of the Sellers 5, 7 and 8 is validly incorporated, duly organized and lawfully existing in accordance with
the laws of their jurisdiction. 

  

	 	b)	 Each Seller individually represents that no bankruptcy, insolvency, composition or similar proceedings with
general effect on its assets have been commenced or threatened against it and that there are no legal grounds to commence any such proceedings. There are no actions, suits or proceedings pending against the Sellers or any Affiliate of the Sellers
before any Governmental Authority which involve a claim by a Governmental Authority or by a third party, which would operate to hinder or substantially impair the consummation of the transactions contemplated by this Agreement. The Sellers have no
knowledge of any actions, suits or proceedings in accordance with the preceding sentence which have been threatened in writing to be filed or instituted against the Sellers or against any Affiliate of the Sellers. 

 

	 	c)	 Each Seller has the absolute and unrestricted right, power, authority and capacity and it has taken all actions
and obtained all consents and approvals (including from corporate bodies, spouses and authorities, or otherwise) necessary to execute, and perform its obligations under this Agreement. 

 

	 	d)	 Each Seller individually represents that there are no limitations under applicable Law, its articles of
association, resolutions or other corporate charter documents, any Judgments or any contracts by which it is bound that would prevent it from entering into or performing its obligations under this Agreement. 

 

	 	e)	 All disclosures to Governmental Authorities in respect of the transaction contemplated hereunder required to be
made by the Sellers have been timely and correctly made. 

  

	8.2	 Shares 

  

	 	a)	 Each Seller represents individually that it is the sole and unrestricted legal and beneficial owner of the
Shares as set forth in Annex D, free and clear of any Lien and rights of third parties of any nature (including options, voting obligations or restrictions or other rights of whatever nature restricting the ownership, the disposability or the
voting rights), and neither of the Sellers nor the Company are under any obligation to grant or create any such Liens or third-party rights. The Shares sold under this Agreement constitute all of the outstanding shares of the Company.

  

	 	b)	 Each Seller represents individually that, on the Closing Date, it assigns and transfers full legal and
beneficial ownership of the Shares sold by it hereunder to the Buyer, free and clear from any Liens and third-party rights, and the Buyer will be the sole and unrestricted owner of such Shares. 

 

	 	c)	 Each Seller represents individually that there is no litigation, arbitration, prosecution, administrative or
other legal proceedings or dispute in existence or threatened against it in respect of its Shares or its entitlement to dispose of its Shares. 

			
		  	
 17

  

	 	d)	 There are no resolutions pending to increase the authorized or issued sharecapital of the Company and there are
no options, conversion rights or other commitments outstanding under which the Company is required to issue shares or other equity securities. All the Shares have been duly issued and are fully paid-in up to their nominal value.

  

	 	e)	 The Sellers have the right and power to sell and transfer to the Buyer the unencumbered and unrestricted
ownership in all the Shares. 

  

	 	f)	 The Shares are validly issued, fully paid-in and free of obligations to make additional capital payments, and
represent the entire issued share capital of the Company, and the share capital of the Company has not been repaid in whole or in part. As of the Closing Date, there are no further shares, non-voting stock,
other equity participation rights or options, convertible instruments or warrants with regard to the Company, or entitlements for the obtaining of such instruments or rights, or agreements which could result in the creation of such entitlements, or
any other agreements of any character relating to the sale, issuance or voting of, or the granting of rights to acquire, any of the shares in the Company with the exception of the non-used, non-committed residual conditional capital as set forth in the articles of association of the Company. 

  

	 	g)	 Other than the Subsidiaries, and the direct minority participations (Breej Technologies Inc and Nautilus
Neurosciences Inc.) Fairly Disclosed in the Financial Statements, the Company has no subsidiaries, branches, permanent establishments or representation offices and it does not own, directly or indirectly, any participation or other interest in any
other companies, partnerships or other businesses. 

  

	 	h)	 The Company is the sole legal and beneficial direct owner of all the shares in the Swiss Subsidiary. The Swiss
Subsidiary is the sole legal and beneficial direct owner of all the shares or quotas (as applicable) in the German Subsidiary and the Italian Subsidiary. The shares or quotas (as applicable) of each of the Subsidiaries as specified in Preamble C are
validly issued, fully paid-in and free of obligations to make additional capital payments, and represent the entire issued share capital of each of the Subsidiaries, and the share capital of the each of the Subsidiaries has not been repaid in whole
or in part. There are no resolutions pending to increase the authorized or issued share capital of any of the Subsidiaries and there are no options, conversion rights or other commitments outstanding under which any of the Subsidiaries is required
to issue shares or other equity securities. As of the Closing Date, there are no further shares or quotas, non-voting stock, other equity participation rights or options, debt securities (e.g. titoli di
debito), convertible instruments or warrants with regard to the Subsidiaries, or entitlements for the obtaining of such instruments or rights, or agreements which could result in the creation of such entitlements, or any other agreements of any
character relating to the sale, issuance or voting of, or the granting of rights to acquire, any of the shares or other equity securities in any of the Subsidiaries. 

			
		  	
 18

  

	8.3	 Incorporation and Qualification 

 

	 	a)	 The Company is a corporation (Aktiengesellschaft) validly incorporated, duly organized and lawfully
existing in accordance with the laws of Switzerland having its registered domicile in Balerna, Switzerland. 

  

	 	b)	 The main corporate purpose of the Company as described in Preamble B is correct and complete.

  

	 	c)	 The Swiss Subsidiary is a corporation (Aktiengesellschaft) validly incorporated, duly organized and
lawfully existing in accordance with the laws of Switzerland having its registered domicile in Balerna, Switzerland. 

  

	 	d)	 The German Subsidiary is a limited liability company (Gesellschaft mit beschränkter Haftung)
validly incorporated, duly organized and lawfully existing in accordance with the laws of Germany having its registered domicile in Offenbach am Main, Germany. 

 

	 	e)	 The Italian Subsidiary is a limited liability company (Società a responabilità limitata)
validly incorporated, duly organized and lawfully existing in accordance with the laws of Italy having its registered office in Corso Vittorio Emanuele II no. 154, Rome, Italy. 

 

	 	f)	 The Group Companies have full corporate power and authority to own or use their assets and properties to carry
on the Business as now being conducted. 

  

	 	g)	 No proceedings are pending or threatened, no order has been made and no resolution has been passed or
shareholders’ meeting convened which could lead to the voluntary or involuntary winding-up, liquidation or other dissolution of any Group Company. No bankruptcy proceedings or composition or general
assignment proceedings are pending or threatened or have been applied for with regard to a Group Company. None of the Group Companies is insolvent or unable or threatened to be unable to pay its debt as they fall due. The Italian Subsidiary is not
in any situation contemplated by articles 2482-bis or 2482-ter of the Italian Civil Code. 

  

	 	h)	 The information set out in (i) the commercial register extract regarding the Company, (ii) the
current articles of association of the Company together with its amended and restated shareholders agreement with the related board regulations and limitations of the CEO’s signing powers, (iii) the commercial register extract regarding
the Swiss Subsidiary, (iv) the current articles of association of the Swiss Subsidiary, (v) the commercial register extract regarding the German Subsidiary, (vi) the current articles of association of the German Subsidiary,
(vii) the Shareholders’ Register of the Company, (viii) the commercial register extract regarding the Italian Subsidiary, and (ix) the current articles of association of the Italian Subsidiary, all as Fairly Disclosed in the
Disclosed Information, is up to date, correct and complete. In particular, there are no other or further signatory rights, powers of attorney or other rights to represent any Group Company. There are no procedures, resolutions, agreements or
applications pending with the effect of altering such information. There have never been any matters with respect to any Group Company that must be registered in the commercial register, including any contributions in kind and/or (intended)
contributions in kind, that were not registered in the commercial register. All the shareholders’ and directors’ meetings of the Group Companies have been held in compliance with applicable Law and the provisions of the articles of
association and by-laws, respectively. 

			
		  	
 19

  

	 	i)	 The Sellers with respect to the Company, the Company with respect to the Swiss Subsidiary, and the Swiss
Subsidiary with respect to the German Subsidiary and the Italian Subsidiary, have always complied with their obligations with respect to the notification of their beneficial owners pursuant to applicable Law. The German Subsidiary has always
complied with its reporting obligations to the German transparency register (Transparenzregister) pursuant to the German Anti Money Laundering Act (Geldwäschegesetz, GwG), and the Italian Subsidiary has always complied with its
obligations under the applicable anti money laundering Law. 

  

	8.4	 Litigation 

  

	 	a)	 The Group Companies are not engaged in any litigation, action, suit, legal or administrative proceeding,
arbitration or alternative dispute resolution proceeding pending before any Governmental Authority (each a “Litigation”), and, to the Sellers’ Best Knowledge, there is no such Litigation threatened in writing or to be expected.

  

	 	b)	 To the Sellers’ Best Knowledge, the Group Companies are not the subject of any investigation, inquiry or
enforcement proceedings or process by any Governmental Authority, nor has any Seller or any Group Company received any written notice of any such investigation, inquiry, proceeding or process. 

 

	 	c)	 The Group Companies are not subject to any decision, order or decree by any court, arbitral tribunal or
administrative board or any settlement that imposed any outstanding or ongoing obligations on any Group Company. 

  

	8.5	 Financial Statements 

 

	 	a)	 Annex 8.5a) contains copies of the consolidated financial statements of the Company for the
business year ended 31 December 2020, together with the notes and the limited review audit report (collectively the “Financial Statements”). 

 

	 	b)	 The Financial Statements: 

 

	 	•	 	 were prepared in accordance with the applicable statutory provisions, preserving continuity and past practice in
all respects, and reflect accurately and correctly the material business events for and the results of operations of the Group Companies for the period to which they relate; 

 

	 	•	 	 in all aspects correctly represent the assets and liabilities, property, financial and profits situation of the
Group Companies as at the Last Balance Sheet Date; 

  

	 	•	 	 make proper and sufficient provisions for all established liabilities of the Group Companies and proper and
sufficient provisions for all deferred or contingent liabilities, all as required by the applicable statutory provisions and accounting principles; 

  

	 	•	 	 the Financial Statements do not overstate any asset or understate any liability; 

			
		  	
 20

  

	 	•	 	 the Financial Statements contain all liabilities, provisions and reserves that are usual or necessary and are
known or should be known by the Sellers or any Group Company, with the exception of a reserve for the risky receivable related to the loan to David Chen; 

  

	 	•	 	 the notes to the Financial Statements correctly disclose any contingent liability that is required to be
disclosed therein; 

  

	 	•	 	 the Financial Statements do not set-off any asset with any liability nor
any income with any expenses; 

  

	 	•	 	 there has been no dissolution of reserves that is not apparent from the Financial Statements;

  

	 	•	 	 the auditors of the Group Companies have issued unqualified limited review audit reports in respect of the
Financial Statements; 

  

	 	•	 	 no Group Company has withheld any information from the auditors, which, if disclosed, would have caused the
auditors to qualify their limited review audit report or to refuse to issue their report with respect to any of the Financial Statements; 

  

	 	•	 	 the Group Companies maintain adequate internal control processes; 

 

	 	•	 	 the Group Companies maintain a system of internal accounting controls sufficient to provide reasonable assurances
that transactions are being executed only in accordance with appropriate authorization of management and are recorded as necessary to permit preparation of financial statements in conformity with applicable Laws; and 

 

	 	•	 	 neither the Group Companies’ auditors nor any member of the management of a Group Company has identified or
made any fraud or material written complaint that involves members of the management of any Group Company who have a role in the preparation of financial statements or accounting controls. 

 

	 	c)	 The Group Companies have not incurred any liability or obligation which are required to be reflected in the
Financial Statements other than (i) such as have been reflected in the Financial Statements or Fairly Dislcosed in the Disclosed Information (ii) such as have been incurred in the ordinary course of business consistent with past practice
since the Last Balance Sheet Date. 

  

	 	d)	 All accounts receivables of the Group Companies have arisen out of bona fide transactions in the
ordinary course of business consistent with past practice and have been accounted for in accordance with the applicable statutory provisions and accounting principles. All accounts receivables are appropriately reserved and, as reserved, are good
and collectible in accordance with the applicable statutory provisions and accounting principles. All accounts payable until the Closing Date have been paid in the ordinary course of business and consistent with past practice of the respective Group
Company. All cash set forth in the Financial Statements is freely available for use by the Group Companies other than cash used in the ordinary course of business and other than for the limitations to the free use of cash as resulting from the
Credit Agreement with Credit Suisse (Svizzera) SA and the Covid Loans. 

			
		  	
 21

  

	 	e)	 Except as set forth in the Financial Statements, the Group Companies have no other indebtedness, including
overdraft facilities, loans and other credit facilities outstanding against third parties or made available by third parties to any Group Company, and none of the Group Companies has issued any other surety, guarantee or comfort letter in favour of
third parties and is neither unconditionally nor conditionally liable for any obligations of third parties. None of the Group Companies has entered into any off-balance sheet arrangements, liabilities or
commitments. 

  

	8.6	 Taxes 

  

	 	a)	 Each of the Group Companies has complied with all applicable Laws relating to Tax and with the terms of any
ruling obtained from any Tax authority. 

  

	 	b)	 The Group Companies have timely filed with the appropriate Tax authorities all Tax Returns, registrations,
refund requests, reports, notices, and other filings in respect of Tax required to be filed prior to the Closing Date. All information provided in such returns, registrations, refund requests, reports, notices, and other filings is true and complete
in accordance with the applicable Laws and all such Tax documents have been prepared in the manner required by applicable Laws and are true, correct and complete, and accurately reflect the liability or credit for Taxes of the respective Group
Company. There are no Tax audits, investigations, examinations or similar proceedings by any Tax or criminal authorities pending or threatened in writing. 

  

	 	c)	 All Taxes relating to assessment periods (partially or fully) prior to or on the Closing Date have been paid or
withheld or have been fully accrued for in the Financial Statements or otherwise, including, but not limited to, appropriate Taxes with regard to compensation, benefits and distributions. 

 

	 	d)	 Since the Last Balance Sheet Date, liabilities for Taxes have only been accrued in the normal course of
business and in line with past accounting periods. 

  

	 	e)	 The Group Companies have not made open or hidden distributions or provided deliveries or services without
adequate consideration to the Sellers or other Affiliates or to Connected Persons of the Sellers which could result in additional liabilities of a Group Company for Tax or in the non-acceptance of business
expenses. 

  

	 	f)	 The Group Companies have at their disposal all supporting documents in connection with (i) all filed Tax
Returns, registrations, refund requests, reports, notices and other filings, and (ii) all Tax Returns, registrations, refund requests, reports, notices and other filings still to be filed which refer to assessment periods (partially or fully)
before the Closing Date, in each case in form and substance in accordance with all applicable Laws. 

  

	 	g)	 The Group Companies are not a party to any claim, action, investigation or proceeding by any Tax authority, nor
has it received written notice from such authority of any claim, action, investigation or proceeding relating to Taxes, and no Tax Return of a Group Company is currently under Tax audit by any Tax authority and no written notice of any such Tax
audit has been received. 

			
		  	
 22

  

	 	h)	 The Group Companies do not have any outstanding obligations under any settlement agreements entered into with
any Tax authority. There are no Tax rulings in place affecting any Group Company. 

  

	 	i)	 No blocking periods imposed in connection with a tax neutral reorganisation (or similar restrictions) apply
with respect to any Group Company. 

  

	 	j)	 The Group Companies have filed on a timely basis all Tax Returns required to be made and have timely given all
notices, accounts and information required to be given by them. All information provided was, when filed or given, true, complete and accurate in all respects. There is no outstanding dispute or disagreement between any Group Company and any
Governmental Authority in respect of any Tax matter and there is no pending or threatened in writing audit or investigation relating to any Taxes for which any Group Company may become directly or indirectly liable. 

 

	 	k)	 To the Sellers’ Best Knowledge, none of the Group Companies has committed any act nor carried out any
operation that can result in a challenge by the relevant Tax authorities. 

  

	 	l)	 Each of the Group Companies is Tax resident solely in its country of incorporation, and does not maintain a
taxable presence in any other jurisdiction, including through activities of any branch, agency or permanent establishment. 

  

	8.7	 Assets 

The Group Companies have good and valid title to, or with respect to assets held under a lease, rental or other leasing agreement, the valid
right to use, all the assets as reflected in the Financial Statements and necessary for the operation of the Business in the same manner as such operation is presently being conducted. Such assets are free and clear of any Liens, are adequate and
fit for the requirements of the Business, are in good operating condition except for normal wear and tear, have been properly maintained and serviced as necessary, and are used exclusively in connection with the Business. None of such assets is in
need of extraordinary maintenance or repair. Such assets are safe to operate in accordance with their current practice in their current condition. 
  

	8.8	 Compliance 

  

	 	a)	 To the Sellers’ Best Knowledge, the Group Companies and, in relation to the Business, their employees,
officers and members of the management have always carried and are currently carrying on its business in compliance with all applicable Laws, the provisions of the articles of association and by-laws,
respectively. In particular, no action, suit or proceeding by any third party or any Governmental Authority is pending, or threatened in writing, against any Group Company alleging any failure to comply with any applicable Laws, the provisions of
the articles of association and by-laws, respectively. 

  

	 	b)	 To the Sellers’ Best Knowledge, neither any Group Company nor (in relation to the Business) any of their
employees, officers and members of the board of directors is or has at any time engaged in any activity, practice or conduct which would constitute an offence under any applicable anti-bribery Laws, anti-corruption Laws or any criminal Laws or, as
far as the Italian Subsidiary in concerned, would result into any liability under the Italian Legislative Decree no. 231/2001. There are no proceedings pending in relation to such anti-bribery Laws, anti-corruption Laws or criminal Laws, and no such
proceedings have been threatened in writing or are to be expected. 

			
		  	
 23

  

	8.9	 Material Contracts 

  

	 	a)	 All the Material Contracts are valid, binding, enforceable in accordance with their terms and are in full force
and effect. 

  

	 	b)	 The Group Companies have in all material respects properly performed all of their obligations arising out of
the Material Contracts, and, as of the Signing Date, no written notice of termination has been received or given or, to the Sellers’ Best Knowledge, been threatened in writing relating to any of the Material Contracts. To the Sellers’ Best
Knowledge, the counterparties to the Material Contracts have performed all material obligations arising out of such contracts and no ground for early termination exists. Other than as Fairly Disclosed in the Disclosed Information, upon consummation
of the transactions contemplated by this Agreement, each Material Contract shall continue in full force and effect without penalty or other adverse consequence and no counterparty to any Material Contract has the right to terminate the relevant
Material Contract or alter its obligations in any material respect as a result of the transactions contemplated by this Agreement. 

  

	 	c)	 To the Sellers’ Best Knowledge, since the Last Balance Sheet Date up to and including the Signing Date,
none of the Group Companies has been notified in writing by any material customer or supplier of their intention to terminate or failure to continue their business relationship with any Group Company and no material customer or supplier has
terminated its agreement with any Group Company unless as Fairly Disclosed in the Disclosed Information. Material customers or suppliers for the purposes of this clause shall be the ten largest customers or suppliers of the respective Group Company
in terms of revenues for the year 2020. To the Sellers’ Best Knowledge, there are no claims or other entitlements of the counterparties to the Material Contracts which are not explicitly reflected in the provisions of the Material Contracts.

  

	 	d)	 There are no outstanding claims whatsoever against any Group Company by Enterprise Innovation (Asia Pacific)
Co. Ltd., David Cheng Yongee, Chen Gengping, Liang Chaoyang and Zu Mengjie or any of their Affiliates arising out of or in connection with the relationship regarding the establishment and financing of and granting of any exclusive license regarding
Tehclo products for ocular use to, an envisaged joint undertaking not yet incorporated. 

  

	8.10	 Permits 

  

	 	a)	 The Group Companies have all licenses, permits, authorizations, consents and permissions from Governmental
Authorities necessary to own and to operate their assets as currently owned or used by it and/or to conduct their business as currently conducted, as Fairly Disclosed in the Disclosed Information (the “Permits”) and there are
no proceedings to suspend, cancel, revoke or not renew any such Permit or any part thereof, and no such proceedings have been threatened in writing. 

			
		  	
 24

  

	 	b)	 All Permits are in full force and effect and, to the Sellers’ Best Knowledge, no circumstances exist which
will result in a material modification, supervision, revocation or non-renewal of Permits. The transactions contemplated by this Agreement will not result in a default under, or a breach or violation or the
termination of, or adversely affect the rights and benefits afforded to the Group Companies by, any of the Permits or give any Governmental Authority or third party the right to terminate any of the Permits. 

 

	 	c)	 To the Sellers’ Best Knowledge, the Group Companies are in compliance with the Permits in all respects.
The Group Companies conduct and have conducted their business in compliance with the Permits. 

  

	8.11	 Clinical Trials 

  

	 	a)	 Annex 8.11a) lists all clinical trials for which the Company currently or in the past five years
acts or has acted as sponsor or which are or have been conducted by or on behalf of or sponsored or otherwise supported by the Company or any Group Company (the “Company Clinical Trials”). 

 

	 	b)	 No Group Company is, neither directly nor indirectly, involved in any other clinical trials or medical
investigations of any products other than the Company Clinical Trials. 

  

	 	c)	 For each Company Clinical Trial all necessary approvals, authorizations, consents, positive opinions or permits
from Govermental Authorities required to conduct, or have conducted, the Company Clinical Trials (the “CT Approvals”) have been obtained and are valid as of the Signing Date. The Company has not made any false or misleading
statements in any of its applications for CT Approvals and there are no reasons why any CT Approvals may be revocked or withdrawn. 

  

	 	d)	 To the Sellers’ Best Knowledge, the conduct of all Company Clinical Trials has been in compliance with all
applicable Laws, guidelines and regulations applicable to such trials, including GCP and GMP and in accordance with applicable industry standards. To the Sellers’ Best Knowledge, there are no outstanding adverse events or serious adverse events
or equivalent events under applicable Laws arising from any past or ongoing Company Clinical Trials. 

  

	 	e)	 The Company will obtain and be the unencumbered and unrestricted owner of all data and all results created in
the sponsored kind of the Company Clinical Trials. 

  

	8.12	 Insurance 

  

	 	a)	 The Group Companies have obtained or have the benefit of insurance coverage, both as required by Law and as
customary in their line of business, and specifically clinical trial and product liability insurance. 

  

	 	b)	 The respective insurance contracts (the “Policies”) are all in full force and effect and will
not be terminated, suspended or altered as a consequence of the Closing, and all premium thereunder have been duly paid when due. No notice of termination or cancellation with regard to any of the Policies has been given or received by any Group
Company, and neither any Group Company nor the respective insurance companies have requested or announced any amendments to the Policies and no such termination, cancellation or request for amendment is to be expected. 

			
		  	
 25

  

	 	c)	 There is no claim outstanding under any of the Policies (or under any policies previously held by any Group
Company) in excess of CHF 100,000; all claims in excess of CHF 100,000 have been settled in full. Since 31 December 2019, there have been no claims as to which insurance coverage has been denied. 

 

	8.13	 Intellectual Property Rights 

 

	 	a)	 Annex 8.13a) contains a list of all the IP Rights owned or used by the Group Companies and sets forth an
accurate, correct and complete list of the IP Rights subject to any issuance, registration, or application by or with any Governmental Authority or authorized private registrar used in the business in each case including, (i) the current owner
or registrant, (ii) the jurisdiction where the application, registration or issuance is filed, (iii) the application, and applicable registration and issue number, (iv) applicable application, registration and issue date, and
(v) in case of licenses, (a) the licensor(s) by territory and (b) the agreements that govern those relationships. Except where a co-ownership interest with a third party is indicated on
Annex 8.13a), the Company is the sole and exclusive owner or licensee (as the case may be) of all right, title, and interest in and to all such IP Rights. All IP Rights used or necessary in connection with the operations of
the Group are owned or lawfully used by the respective Group Company. 

  

	 	b)	 The Group Companies have validly acquired all right, title and interest in the IP Rights developed by their
respective employees and/or freelancers or other external contractors which is relevant for the Business. 

  

	 	c)	 Other than for what Fairly Disclosed in the Disclosed Information, all IP Rights subject to any issuance,
registration, or application by or with any Governmental Authority or authorized private registrar (i) have not been abandoned or canceled, (ii) have been maintained effective by all requisite filings, renewals and payments to the relevant
Governmental Authority, and (iii) remain in full force and effect. 

  

	 	d)	 Other than for the SWK Holding royalty interest in the Cambia IP Rights, no IP Rights are subject to any Lien.
No claims, disputes, opposition or nullity proceedings are pending or threatened in writing challenging the ownership, use or validity of the IP Rights owned or used by the Group Companies. 

 

	 	e)	 To the Sellers’ Best Knowledge, there is no infringement of any IP Rights owned by any Group Company by
any third party. Other than as Fairly Disclosed in the Disclosed Information, in the last 5 (five) years prior to the Signing Date, to the Seller’s Best Knowledge, none of the Group Companies has been in conflict with, or infringed, or been
threatened in writing in connection with the infringement of, any IP Rights of any third party and there were no material proceedings before any Governmental Authority alleging that any conduct of Group Companies constitutes infringement,
misappropriation or other violation of any intellectual property of any third party. As of the Signing Date, (i) none of the Group Companies is in conflict with, or infringes, any IP Rights of any third party and, (ii) to the Sellers’
Best Knowledge, none of the Group Companies is threatened in writing in connection with any such infringement, and (iii) there are no material proceedings before any Governmental Authority alleging that any conduct of Group Companies
constitutes infringement, misappropriation or other violation of any intellectual property of any third party. 

			
		  	
 26

  

	 	f)	 All current and former officers and employees of any Group Company who are or have been involved in the
creation or development of IP Rights have executed and delivered to the relevant Group Company an agreement providing for the valid assignment to the relevant Group Company any IP Rights made in the course of services performed by such officer or
employee. No current or former employee of Group Companies has any right, title, or interest, directly or indirectly, in whole or in part, in any IP Rights of any Group Company nor is there any circumstance that might reasonably be expected to give
rise to valid claims from him/her in connection with any of such IP Rights other than for certain royalty interests of third parties including certain current and former officers and employees as Fairly Disclosed in the Disclosed Information. All
current and former freelancers of any Group Company who are or have been involved in the creation or development of IP Rights have executed and delivered an agreement validly assigning to such Group Company any IP Rights made by such freelancer in
the course of such freelancer’s services. No current or former officer, employee or freelancer of any Group Company is in material violation of any term of any such assignment agreement between such person and the relevant Group Company nor has
any such current or former officer, employee or freelancer of any Group Company alleged that he or she retains any ownership interest in any IP Rights. 

  

	 	g)	 The Group Companies have implemented reasonable and market-standard measures to prevent unlawful use or
disclosure of any trade secrets or other valuable business information of the Group Companies. 

  

	 	h)	 The Group Companies are not aware of any material facts, or circumstances that would render any IP Rights
invalid or unenforceable, and the Group Companies have not knowingly misrepresented, or knowingly failed to disclose, any facts or circumstances in any application for any IP Rights that would constitute fraud or misrepresentation with respect to
such application. 

  

	8.14	 IT Systems 

  

	 	a)	 Each Group Company owns or validly leases all computers, laptops, servers, printers, hubs, network equipment,
phones and any similar technical devices as well as standard software (the “IT Systems”) used by that Group Company. 

  

	 	b)	 The IT Systems are operating in all material respects in accordance with their functional specifications and
otherwise as required by the Group Companies in connection with their operations as currently conducted. 

  

	 	c)	 The IT Systems are adequate and fit for the operational and business requirements of the Group, and adequate back-up and disaster recovery procedures and policies have been implemented and are complied with. There have been no significant disruptions within the last twelve months. 

 

	 	d)	 The Group Companies have
up-to-date, complete and documented source codes of any and all software developed by their own employees and third parties or used for the Business.

  

	 	e)	 The IT Systems are sufficiently scaled for the continued conduct of the Business as the same is currently being
conducted. 

			
		  	
 27

  

	 	f)	 The IT Systems are regularly maintained and serviced and have received recent software/firmware updates.

  

	 	g)	 The IT Systems are protected with reasonable security measures against unlawful intrusion, damage, trojan
horses, viruses, ransomware or other malware as well as fire or water or similar incidents which may impact the operability of the IT Systems. 

  

	 	h)	 Since the Last Balance Sheet Date, no Group Company has suffered any material outage, disruption or malfunction
of its IT Systems or any data loss or damage. 

  

	8.15	 Data Protection Compliance 

 

	 	a)	 The Group Companies have taken all customary steps and measures in order to assure the Group Companies to
become, as soon as it is reasonably possible after the Closing, in compliance with collection, storage, use, disposal, disclosure, transfer and any other processing of any personal data by or on behalf of the Group Companies under the applicable
data protection Laws, including the EU General Data Protection Regulation 2016/679 (GDPR). 

  

	 	b)	 No Group Company is or has been subject to any investigation or proceeding by a competent data protection
supervisory authority nor, , has any data subject raised a complaint or claim against any Group Company due to an alleged violation of applicable data protection Laws. 

 

	 	c)	 There are no proceedings pending or, to the Seller’s Best Knowledge, threatened and no claims or
complaints made against any Group Company by any Governmental Authority or other Person alleging a violation of any data protection Laws or any contractual obligations related to personal data. 

 

	 	d)	 There have been no incidents or data security breaches, unauthorized or illegal access, disclosure or use of
any of the personal data held by or on behalf of any Group Company. The Group Companies have not disclosed any data breach or network security breach to any Person or any Governmental Authority. 

 

	8.16	 Manufacturing and Products 

 

	 	a)	 To the Sellers’ Best Knowledge, there are no circumstances that might reasonably be expected to give rise
to any claim from any Person or Governmental Authority relating to any defect in any product manufactured or sold or used in a Company Clinical Trial (including any component or ingredient for incorporation into other products) or any services
rendered by any Group Company. 

  

	 	b)	 The products developed, manufactured, supplied, licensed or sold by any Group Company or used in a Company
Clinical Trial, which would require regulatory approvals, are duly approved and such registrations or approvals are complete, accurate and up-to-date in all material
respects. 

  

	 	c)	 The products developed, manufactured, supplied, licensed or sold or used in a Company Clinical Trial by any
Group Company are developed, manufactured, supplied, licensed or sold in all respects in accordance with (i) the specifications and standards contained in relevant product registration documentations, (ii) the specifications and standards
required by the customers and (iii) all applicable Laws and regulations, including all safety and compliance requirements. 

			
		  	
 28

  

	 	d)	 The Group Companies have not developed, manufactured, supplied, licensed or sold or used in a Company Clinical
Trial any products or rendered any services which do not comply with any warranties or representations expressly or implicitly made by a Group Company orwhich, to the Sellers’ Best Knowledge, otherwise give rise to any claim by any customer or
any third party or Person in respect thereof, in each case other than warranty cases in the ordinary course of business. 

  

	 	e)	 None of the Group Companies has received any unresolved claim in writing by any customer or any third party in
respect of breach of express or implied warranties or representations, which would cause any cost or compensation owed by any Group Company to resolve such claims. 

 

	 	f)	 There are no actions pending or, to the Seller’s Best Knowledge, threatened in writing or product recalls
relating to any product developed, manufactured, supplied, sold, licensed or services rendered by or on behalf of any Group Company. 

  

	8.17	 Conduct of Business since the Last Balance Sheet Date 

 

	 	a)	 Since the Last Balance Sheet Date, (i) the Group Companies have carried out the Business as a going
concern, in the ordinary course, at arm’s length terms and consistent with past practice and has carried out investments in line with approved budgets and business plans and (ii) there has not been any event, circumstance or condition that
had or is likely to have a Material Adverse Effect on any Group Company. 

 Without limiting the generality of the
foregoing, since the Last Balance Sheet Date, other than for what Fairly Disclosed in the Disclosed Information, none of the Group Companies has performed any of the following actions: 

 

	 	b)	 Entering into any unusual agreements, arrangements or commitments which materially departed from their ordinary
course of business; 

  

	 	c)	 any action which could materially interfere with the consummation of the transaction contemplated under this
Agreement; 

  

	 	d)	 declaring, paying or making any dividend or other distribution, whether express, constructive or hidden;

  

	 	e)	 making any change in the terms of employment of any of its directors, officers or employees;

  

	 	f)	 changing, entering into or terminating any collective bargaining agreements with trade unions or works councils
or generally change the working conditions of any employee of any Group Company; 

  

	 	g)	 providing a notice of termination by any Group Company to any employee; 

 

	 	h)	 forming, entering into, changing, terminating or withdrawing from any partnership, consortium, joint venture or
similar business organization; 

  

	 	i)	 making amendments to its articles of incorporation or organizational regulations; 

 

	 	j)	 transferring any of its assets with a value exceeding CHF 100,000 to any third party; 

			
		  	
 29

  

	 	k)	 increasing, reducing or otherwise changing its share capital, or grant any option or conversion rights on the
equity of any Group Company other than for the recent issuance of new Shares of the Company pursuant to the exercise of certain stock options; 

  

	 	l)	 granting, increasing or extending any loan to any third party; 

 

	 	m)	 granting, creating or allowing the creation of any Lien over any of its assets (including IP Rights) other than
liens arising by operation of law; 

  

	 	n)	 accepting any subsidies or grants or repaying (in full or partially) any subsidies or grants;

  

	 	o)	 granting any licenses relating to any of its IP Rights other than those entered in the normal course of
business; 

  

	 	p)	 borrowing any money from any third party; 

 

	 	q)	 entering into any guarantee, indemnity or surety other than in the ordinary course of business (such as
agreements with customers or suppliers); 

  

	 	r)	 materially changing its accounting procedures, principles or practice in effect at the Signing Date; and

  

	 	s)	 agreeing upon, or committing to, any of the foregoing. 

 

	8.18	 Employment Matters 

  

	 	a)	 A true and complete list of all employees and freelancers of the Group Companies as at the Signing Date,
including employment status (employee, freelancer or other) date of birth, title, the technical entry/commencement date, work permit, scope of employment (full time or part-time), notice period has been Fairly Disclosed in the Disclosed Information.
Apart from the employees of the Group Companies, there are no other individuals who are entitled to claim to be acknowledged as employees of any Group Company. 

 

	 	b)	 Other than as Fairly Disclosed in the Disclosed Information, there are no employment or freelancer contracts or
other obligations of any Group Company which (i) entitle any Person to an annual gross compensation of more than CHF 120,000 (including variable components), or (ii) can only be terminated with a notice period of more than three months.

  

	 	c)	 No material salary increases have been resolved but not yet implemented. There are no employment, freelancer or
benefit agreements or plans entitling an employee or freelancer to severance or other payments due upon the consummation of the transactions contemplated under this Agreement other than as Fairly Disclosed in the Disclosed Information. As of the
Signing Date, other than the Company’s employee Sara Mazzuoccolo who has given its notice of termination on 23 June 2021, none of the employees has given or received notice of termination or, to the Sellers’ Best Knowledge, has
indicated an intention in writing (including for purposes of this subsection by plain email) to terminate its employment. 

  

	 	d)	 There are no bonus, profit sharing schemes, share option schemes, share incentive schemes, distribution
participation schemes or any other scheme or commitment, whether of an individual or collective nature, in existence under which any employee or freelancer of any Group Company is entitled to participate in the equity, profits, turnover or other
business performance of any Group Company Agreement other than as Fairly Disclosed in the Disclosed Information. None of the employees or freelancers have any outstanding claims for any bonus payments, incentive payments, distribution participations
or similar payments against any Group Company other than as Fairly Disclosed in the Dislcosed Information. 

			
		  	
 30

  

	 	e)	 None of the Group Companies is a party to or otherwise bound by collective bargaining agreements or other
agreements with labour unions or similar organisations, and there are no orders of general applicability which have an effect on any Group Company. All freelancers that have worked or are currently working for any Group Company have been and are
recognised as self-employed persons, and no Group Company will have any liabilities with respect to employment and/or social security Laws in connection with hiring or engaging freelancers. 

 

	 	f)	 The Group Companies have been at all times, and are, in compliance with all applicable Laws and contractual
obligations (including payment obligations) regarding the employees, temporary workers and freelancers, and no respective proceedings, claims or investigations are pending or threatened in writing. To the Sellers’ Best Knowledge, none of the
employees, temporary workers or freelancers has ever claimed any right in any of the IP Rights of any Group Company. 

  

	 	g)	 There is no dispute between any Group Company and any of their current or former employees, directors,
temporary workers or freelancers pending or, To the Sellers’ Best Knowledge, threatened in writing, and the Group Companies are not involved in any pending litigation with any of the relevant trade unions, works councils and employee
representative bodies and there is no strike, slowdown or stoppage actually pending or threatened to occur against any Group Company. There are no work councils or other employees’ representations in any Group Company. 

 

	 	h)	 To the Sellers’ Best Knowledge, each Group Company has always been in compliance with all applicable
health and safety Laws other than for the full application of the Lex 231 by the Italian Subsidiary. 

  

	 	i)	 To the Sellers’ Best Knowledge, the Italian Subsdiary is not, and has not been since the last five years,
a party to any commercial agency agreement nor has it perfomed any agreement in a way which might cause the Italian Subsidiary to qualify as a commercial agent under such agreement other than for the Italian Subsidiary appointed as European based
responsible entity on behalf of the Company (which is located outside EU). There are no Persons that are entitled to validly claim to be acknowledged as agents of the Italian Subsidiary. 

 

	8.19	 Social Security and Pensions 

 

	 	a)	 All persons who have to be registered by any Group Company as employees with social security and pension
institutions are registered accordingly and in compliance with applicable Laws. 

  

	 	b)	 The Group Companies’ respective pension payments to their employees in accordance with applicable Law are
insured with the statutory pension insurance and/or with any mandatory national public pension fund, i.e., the Group Companies have no own pension institutions. 

			
		  	
 31

  

	 	c)	 To the Sellers’ Best Knowledge, the Group Companies have always been, and are, in compliance with all
applicable pension and social security Laws. 

  

	 	d)	 All contributions required to be made under (i) any pension or social security Laws or (ii) the terms
of any pension scheme, pension plan, benefit plan or similar health and welfare commitments of any Group Company (the items under (ii) collectively the “Benefit Plans”) due by any Group Company for their employees for any
period ending before the Closing Date have been timely made or have been adequately provisioned for in the books and accounts of the Group Companies. To the Sellers’ Best Knowledge, the Benefit Plans have no claims against any Group Company
other than for the current ordinary contributions. To the Sellers’ Best Knowledge, other than the payment of the current ordinary contributions under the Benefit Plans, the Group Companies do not provide or contribute to, and are not liable to
provide or contribute to, the provision of benefits for or in respect of any of their current or former directors, officers or employees or their dependents. 

  

	 	e)	 All Benefit Plans are fully funded and there is no funding deficit under any of the Benefit Plans. There are no
Benefit Plans of any Group Company other than those Fairly Disclosed in the Disclosed Information. 

  

	 	f)	 To the Sellers’ Best Knowledge, the Group Companies are in compliance with all applicable Laws relating to
social security, pension and worker compensation. 

  

	8.20	 Real Estate 

  

	 	a)	 The Group Companies do not own and have never owned any real estate. To the Sellers’ Best Knowledge, all
lease agreements for the business premises used by any Group Company are in full force and effect, and no notice of termination has been received or given by any Group Company or been threatened in writing by or vis-à-vis any Group Company with regard to any of these lease agreements, and no disputes are pending which could result in termination of any of these lease agreements. To the Sellers’ Best
Knowledge, no written notice by any party to any lease agreement of any Group Company has been given with respect to any material breach or material default of any Group Company under such lease agreement. 

 

	 	b)	 To the Sellers’ Best Knowledge, the Group Companies have free access to all the real estate currently
leased or used other than those sub-leased to third parties as Fairly Disclosed in the Disclosed Information, as required to conduct the Business, other than as restricted by the applicable lease agreement or
as set forth in the relevant land registry. 

  

	8.21	 M&A Transactions 

The Group Companies have complied with all obligations under or in connection with all purchase agreements entered into by any Group Company to
acquire all or part of the shares in, or assets and liabilities from, other companies or private individuals. In particular, the Group Companies have not violated any tax related blocking period imposed on any Group Company under any of such
purchase agreements. Other than the obligation to observe such blocking periods under such purchase agreements, there are no outstanding liabilities under or in connection with such purchase agreements. 

			
		  	
 32

  

	8.22	 Corporate Books 

All books, accounts, registers and records, as well as all related supporting documents, required by Law to be maintained and stored by the
Group Companies (the “Books”) are up to date, correct and complete and have been, kept, maintained and stored in accordance with applicable Law, and, if stored in electronic form, can be made readable again at any time. No written
notice or, to the Sellers’ Best Knowledge, no other allegation that any of them is incorrect or should be rectified has been received by any Group Company. All the Books are in the possession of the respective Group Company. 

 

	8.23	 No Broker’s Fees 

None of the Group Companies (i) does have any obligation to pay a broker’s, finder’s or transaction fee or commission in
connection with the transactions contemplated by this Agreement, or (ii) other than the cash bonus to Seller 1 as Fairly Disclosed in the Disclosed Information, is liable to pay to any of their respective board members or advisors any sum,
fee or commission or grant any right in connection with the transactions contemplated by this Agreement. 
  

	8.24	 Certain Payments 

To the Sellers’ Best Knowledge, neither the Group Companies nor any director, officer, agent, or employee of any Group Company, or any
other Person associated with or acting for or on behalf of any Group Company, has directly or indirectly (i) made any contribution, gift, bribe, payoff, influence payment, or kickback to any Person in violation of any applicable Laws, or
(ii) established or maintained any fund or asset that has not been recorded in the Books. 
  

	8.25	 Affiliates and Connected Persons 

 

	 	a)	 All transactions and agreements amongst the Group Companies and between any Group Company on the one hand and
any of the Sellers, any of their Affiliates or Connected Persons on the other hand have been made within the usual course of business and at arm’s length terms. 

 

	 	b)	 As of the Closing Date, except as otherwise provide in this Agreement, (i) there are no agreements in
force between any Group Company on the one hand and any of the Sellers, any of their Affiliates or Connected Persons on the other hand not Fairly Disclosed in the Disclosed Information and (ii) none of the Sellers, any of their Affiliates or
Connected Persons has any claims against any Group Company. 

  

	 	c)	 All guarantees or other security granted or established by (i) any Group Company for any obligation of any
of the Sellers, any of their Affiliates or Connected Persons, or (ii) the Sellers, any of their Affiliates or Connected Persons for any obligation of any Group Company, have been fully und conditionally released, waived and terminated prior to
the Signing Date. 

  

	8.26	 Full Disclosure 

All information provided to the Buyer and/or its advisors is materially true, complete in all material respects and not misleading and provides
a fair and accurate picture of the business and financial situation of the Group Companies. 

			
		  	
 33

  

	9.	 REPRESENTATIONS AND WARRANTIES OF THE BUYER 

The Buyer represents and warrants with effect as of the Signing Date, the Closing Date and the Transfer Date the following: 

 

	9.1	 Incorporation and Authority 

The Buyer is a corporation validly incorporated, duly organized and lawfully existing in accordance with the laws of Switzerland having its
registered domicile in Geneva, Switzerland, and is neither in liquidation nor in composition proceedings or in any other similar procedure. The Buyer has full corporate power and authority to enter into this Agreement, to carry out its obligations
hereunder and to consummate the transactions contemplated hereby. There are no actions, suits or proceedings pending against the Buyer before any Governmental Authority which involve a claim by a Governmental Authority or by a third party, which
would operate to hinder or substantially impair the consummation of the transactions contemplated by this Agreement. 
  

	9.2	 Effect of Execution of Agreement 

This Agreement has been duly executed and delivered by the Buyer, and constitutes legal, valid and binding obligations of the Buyer enforceable
against the Buyer in accordance with its terms. The execution and delivery of this Agreement by the Buyer does not, and the consummation of the transactions contemplated hereby by the Buyer will not violate any agreement to which the Buyer is a
party. 
  

	9.3	 Consent 

As of the Transfer Date, the Buyer has the absolute and unrestricted right, power, authority and capacity and it has taken all actions and
obtained all consents and approvals (including from corporate bodies, and authorities, or otherwise) necessary to execute, and perform its obligations under this Agreement. 
  

	9.4	 Payment Shares 

  

	 	a)	 The Buyer represents that, on the Transfer Date, the Payment Shares are free and clear of any Lien and rights
of third parties of any nature (including options, voting obligations or restrictions or other rights of whatever nature restricting the ownership, the disposability or the voting rights), and the Buyer is under no obligation to grant or create any
such Liens or third-party rights. 

  

	 	b)	 The Buyer represents that, on the Transfer Date, it assigns and transfers full legal and beneficial ownership
of the Payment Shares constituting the Share Transfer to the Sellers, free and clear from any Liens and third-party rights, and the Sellers will be the sole and unrestricted owners of such Payment Shares. 

 

	 	c)	 The Buyer represents that there is no litigation, arbitration, prosecution, administrative or other legal
proceedings or dispute in existence or threatened against it in respect of the Payment Shares or its entitlement to dispose of the Payment Shares. 

  

	 	d)	 The Buyer has the right and power to transfer to the Sellers the unencumbered and unrestricted ownership in the
Payment Shares on the Transfer Date. 

  

	 	e)	 On the Transfer Date, the Payment Shares are validly issued, fully paid-in to their nominal value and free of
obligations to make additional capital payments, and the Payment Shares have not been repaid in whole or in part. 

			
		  	
 34

  

	 	f)	 All disclosures to Governmental Authorities in respect of the transaction contemplated hereunder and/or the
issuance of the Payment Shares required to be made by the Buyer have been timely and correctly made. 

  

	9.5	 Milestones 

  

	 	a)	 The representations and warranties made by the Buyer in Section 9.4 shall be applicable, mutatis mutandis,
to any Buyer Shares delivered to the Sellers upon the achievement of any Milestones. 

  

	 	b)	 The Buyer represents and warrants that it will make its reasonable commercial efforts to provide power and
resources to the Group Companies for the prosecution of the Milestones 

  

	10.	 EXCLUSIVE REPRESENTATIONS AND WARRANTIES 

Each Party acknowledges that, other than as expressly provided in this Agreement, the other Parties have not made, and do not make, and have
not relied and do not rely on, any other representations and warranties, express or implied, relating to the subject matter of this Agreement. 
  

	11.	 REMEDIES OF BUYER FOR BREACH OF REPRESENTATIONS AND WARRANTIES 

 

	11.1	 Sellers’ Right to Cure and Sellers’ Liability 

If and to the extent a misrepresentation or breach of a warranty under this Agreement notified by the Buyer to the Sellers pursuant to
Section 11.2 is not cured within 45 Business Days following receipt of the respective Notice of Breach, the Sellers shall be liable in proportion to their respective shareholdings in the Company as set forth in
Annex D, and not jointly (nicht solidarisch), to the Buyer or, at the Buyer’s discretion, the Company, irrespective of any fault of the Sellers (verschuldensunabhängig), for any damage, cost and
expense, excluding any consequential, punitive, special and incidental damages (together the “Damage”) suffered and/or incurred by the Buyer and the Group Companies as a result of or connected with a misrepresentation and/or breach
of warranty by any Seller. 
  

	11.2	 Notice of Breach 

In case of a misrepresentation or breach of a warranty set forth in Section 8, the Buyer shall deliver to the Sellers a notice in writing
(the “Notice of Breach”), within 45 Business Days after having obtained sufficient knowledge of such misrepresentation or breach of a warranty informing the Sellers about the misrepresentation or breach including a reasonable
description of the misrepresentation or breach to the extent then known. 
 Failure to deliver a Notice of Breach within the time period set
forth above shall not exclude Sellers’ liability, provided, however, that the Sellers shall not be liable for any Damage caused or aggravated by the Buyer’s failure to give timely notice within the time period pursuant to this
Section 11.2. 
 The regime provided for in this Section 11.2 shall be in lieu of, not in addition to, Buyer’s duty to
immediately inspect and notify the Sellers in accordance with Art. 201 CO. Art. 201 CO shall not apply. 

			
		  	
 35

  

	11.3	 Term 

Claims by the Buyer against the Sellers for misrepresentation or breach of warranty shall be time-barred (verjährt) whereby
Art. 210 para. 1 CO shall not apply: 
  

	 	a)	 unless otherwise set forth in this Section 11.3, 12 (twelve) months after the Closing Date;

  

	 	b)	 with regard to representations and warranties in Sections 8.6 (Taxes) and 8.19 (Social Security and Pensions),
6 (six) months after the expiry of the relevant statute of limitation; and 

  

	 	c)	 with regard to the representations and warranties in Sections 8.1 (Incorporation and Authority), 8.2 (Shares)
and 8.3 (Incorporation and Qualification) 10 (ten) years after the Closing Date, and 

  

	 	d)	 with regard to the representations and warranties in lit. d) only of Section 8.9 (Material Contracts), 5
(five) years after the Closing Date. 

  

	11.4	 Third-Party Claims 

In case of a claim or other notification brought or threatened by any third party or Governmental Authority against the Buyer or any Group
Company, which is reasonably likely to qualify as a claim of the Buyer against the Sellers for misrepresentation or breach of warranty (each a “Third-Party Claim”), the Buyer shall, within 10 (ten) Business Days (or prior, if the
circumstances require a shorter notice) after the Buyer becomes aware of such Third-Party Claim, notify in writing such Third-Party Claim to the Sellers, providing the reasonable particulars thereof and specifying (to the extent possible) the
claimed amounts. The Sellers will have the right to participate and, to the maximum extent permitted by Law, join, at their cost, by counsels of their choosing, in the defense of a Third-Party Claim. In any case, the Sellers will cooperate with the
Buyer in the preparation for and the prosecution of the defense of such claim, action, suit or proceeding, including making available evidence within the control of the Sellers. Provided that the procedure mentioned in this Section 11.4 has
been respected, if and to the extent that the Sellers will be liable under this Agreement, the Sellers shall finally bear all attorney’s fees sustained or incurred by the Buyer and/or the Group Companies in the defence of the Third-Party Claim
(to the extent such fees cannot be recovered from the third party), subject and without prejudice to Section 14.1. The Buyer shall not settle or permit the settlement of a Third-Party Claim without the prior written consent of the Sellers,
which consent shall not be unreasonably withheld or delayed, and which shall be deemed to be given absent an objection by the Sellers within 10 (ten) Business Days of being notified of such proposal. 

 

	11.5	 Reduction of Liability 

The liability of the Sellers for a misrepresentation or breach of warranty shall be excluded or reduced, as the case may be, if and to the
extent the Sellers can prove that: 
  

	 	a)	 the facts or circumstances to which the claim relates have been Fairly Disclosed in the Disclosed Information
(Annex 11.5a)). Art. 200 CO is hereby explicitly waived by the Parties. With regard to any breaches of Sections 8.1 (Incorporation and Authority), 8.2 (Shares), 8.3 (Incorporation and Qualification) and lit. d) only of
Section 8.9 (Material Contracts), this Section 11.5a) shall not apply; 

			
		  	
 36

  

	 	b)	 the relevant Damage was actually recovered from a third party including any Governmental Authority, by the
Buyer or, following Closing, any Group Company under any title whatsoever, in particular under the terms of any of the Policies, after deduction of all duly documented costs and expenses incurred in making such recovery (including reasonable
attorney’s fees and increased insurance premiums); 

  

	 	c)	 the Buyer, or after Closing, any Group Company failed to mitigate the Damage in accordance with mandatory Swiss
law or as set forth in this Agreement; 

  

	 	d)	 a specific provision has been made in the Financial Statements for the matter that is the subject of the claim;
or 

  

	 	e)	 any Tax payable by any Group Company is actually reduced as a result of a matter giving rise to a claim of the
Buyer. 

  

	11.6	 Limitation of Liability 

 

	 	a)	 No liability shall attach to the Sellers under or in connection with a misrepresentation or breach of warranty
under this Agreement (i) where the individual claim does not exceed CHF 50,000 (the “De Minimis Amount”) and (ii) where the aggregate amount of claims (excluding claims which do not exceed the De Minimis Amount in the
individual case) does not exceed CHF 500,000 (the “Threshold”). If the liability of the Sellers under or in connection with a misrepresentation or breach of warranty under this Agreement exceeds the Threshold, the Buyer shall
be entitled to claim the total amount and not only the amount in excess of the Threshold. 

  

	 	b)	 The total aggregate liability of the Sellers under or in connection with a misrepresentation or breach of
warranty under this Agreement shall be limited to CHF 4,000,000 (the “Cap”). 

  

	 	c)	 Any limitation of liability under Sections 11.6a) and 11.6b) shall not apply to the Sellers’
representations and warranties contained in Sections 8.1 (Incorporation and Authority), 8.2 (Shares) and 8.3 (Incorporation and Qualification) and lit. d) only of Section 8.9 (Material Contracts), provided, however, that the total
aggregate liability for any Damage caused by the Sellers related thereto shall be limited to 100% of the received portion of the Purchase Price. 

  

	11.7	 Remedies of the Sellers 

The provisions of Sections 11.1 through 11.6 apply mutatis mutandis to claims of the Sellers because of
misrepresentations or breaches of warranty by the Buyer. 
  

	11.8	 Exclusive Remedies; No Rescission 

The rights of the Buyer set out in this Agreement are exclusive of any other legal rights. In particular, the right to rescind this Agreement
under art. 23 et seq. and under art. 195 and 205 CO and the right to claim a reduction of the purchase price under art. 196 and 205 CO are excluded to the largest extent admissible under Swiss law. 

			
		  	
 37

  

	12.	 SPECIFIC INDEMNITIES 

 

	12.1	 General 

The Parties’ respective obligations set forth in this Section 12 constitute non-accessory
guarantees of the Parties in the sense of art. 111 CO and are valid and enforceable irrespective of (i) any fault of the Sellers (verschuldensunabhängig), (ii) any disclosure in this Agreement, in the Disclosed Information or
otherwise or (iii) any actual or constructive knowledge of the Buyer. No limitations of each Party’s liability under this Agreement (including in Section 11) shall apply to any claims any other Party may have under or in connection
with this Section 12; provided that (a) the total aggregate liability of the Sellers under Section 12.2 shall not exceed the received portion of the Purchase Price and (b) the total aggregate liability of the Buyer under
Section 12.3 shall not exceed 15% (fifteen percent) of the undelivered part of such Buyer Shares (i.e., corresponding to two (2) full years of delay). 
  

	12.2	 Covid Loans 

Subject to Section 13.4, the Sellers shall indemnify and hold harmless the Buyer and the Group Companies from and against any Damage
suffered by the Buyer or any Group Company arising out of, resulting from or in connection with any Covid Loans taken out by any Group Company. 
  

	12.3	 Late Transfer of Buyer Shares 

If, on the Transfer Date, the Buyer has not transferred the Payment Shares to the Sellers and/or the Escrow Shares to the Escrow Account, the
Buyer shall pay to the Sellers, per each year of delay, a penalty of 7.5% (seven point five percent) of the undelivered part of such Buyer Shares as follows: (i) 50% (fifty percent) in cash in CHF and (ii) 50% (fifty percent) in additional Buyer
Shares being computed as the product of the 20 Day VWAP preceding and including 25 June 2021, multiplied by the number of Buyer Shares to equal the undelivered part of such Buyer Shares (with any fractions of Buyer Shares to be rounded
up), each to be calculated proportionally to each day of delay from the first Business Day following the Transfer Date. 
  

	13.	 OTHER COVENANTS 

 

	13.1	 Confidentiality 

Each Party shall keep all documents and information regarding the other Parties and the Group Companies that have been provided by such Party
in view of entering into this Agreement strictly confidential from any other Person and shall use best efforts to ensure compliance by its representatives or advisors unless (i) there is a judicial or administrative procedure (including in
connection with obtaining the necessary governmental approvals for the transaction provided for in this Agreement, if any) or another legal requirement compelling disclosure or (ii) disclosed in an action or proceeding brought by a Party in
pursuit of its rights or in the exercise of its remedies hereunder. Excempt are documents and information: 
  

	 	a)	 previously already known by the receiving Party; 

 

	 	b)	 already in the public domain without fault of the receiving Party; or 

			
		  	
 38

  

	 	c)	 later obtained by the receiving Party from another source; provided the receiving Party is not aware that this
other source is also under an obligation to the other Party to keep such documents and information confidential; 

provided, however, that following the Closing the foregoing restrictions shall not apply to the Buyer’s use of documents and information
concerning any Group Company. 
 Notwithstanding the foregoing, the Buyer shall be authorized to disclose any information regarding the
transactions contemplated by this Agreement and regarding the Group Companies and the Business to its advisors, investors and financing providers. 

From the Closing, the Sellers shall keep strictly confidential and shall procure that any Affiliates and or Connected Persons of the Sellers
keep strictly confidential any confidential information and business secrets concerning any Group Company and the Business and shall refrain, and shall cause their Affiliates and Connected Persons to refrain, from using such confidential information
and business secrets for its or their own benefit and for the benefit of another Person. 
  

	13.2	 Public Announcements 

As from the Signing Date, all public announcements or press releases concerning this Agreement shall only be issued after the Sellers and the
Buyer have agreed on the contents and timing of such public announcement or press release, save for any public announcement or press release required by applicable Law or any Governmental Authority (including any securities exchange). 

Simultaneously with any public announcement, the employees of the Group Companies shall be informed by the Sellers in an appropriate manner
about this Agreement. 
  

	13.3	 Non-Competition and
Non-Solicitation by certain Sellers 

 Each of the Sellers being individuals (i.e.,
all Sellers except for the corporate Sellers 5, 7 and 8), undertakes not to, directly or indirectly, and procures that none of its Affiliates and Connected Persons will, for a period of 12 (twelve) months after the Closing, either on their own
account or in conjunction with or on behalf of any other Person: 
  

	 	a)	 carry on or be engaged in, concerned with or interested in, whether as shareholder (other than as a shareholder
in a company where the shareholding is for investment purposes only and amounts to not more than 5% of the issued and outstanding equity interests of such company), partner, board member agent, advisor, employee or otherwise, any business which
competes with the Core Business of any Group Company as of the Signing Date; 

  

	 	b)	 actively solicit or entice away any employee, exclusively bound agent or freelancer of any Group Company or
otherwise encourage such Person to leave any Group Company; and/or 

  

	 	c)	 induce any partner or customer of any Group Company to cease or reduce doing business with any Group Company.

 In the event of a breach of any covenant set forth in this Section 13.3, the respective Seller(s) shall pay a
contractual penalty to the Buyer in the amount of CHF 100,000 per breach. In case of a continuous breach, an additional contractual penalty of CHF 100,000 shall become due after each week of duration of such breach (whereby the amount
shall be payable pro rata in case of a breach lasting less than a full week). 

			
		  	
 39

  

 
The payment of the contractual penalty or any Damages shall not discharge the respective Sellers from continued compliance with the covenants set forth in this Section 13.3. In addition, the
Buyer has the right to seek specific performance of the Sellers’ obligations under this Section 13.3 and to seek the payment of Damages from the respective Sellers for any Damage suffered by the Buyer or any Affiliate of the Buyer
(including, without limitation, the Group Companies). 
  

	13.4	 Refunding of Covid Loans 

Within 30 (thirty) calendar days upon the Closing Date, the Buyer shall completely refund to the respective lenders the Covid Loans. 

 

	14.	 MISCELLANEOUS 

 

	14.1	 Costs and Transfer Taxes 

Except as otherwise set forth in this Agreement, each Party shall bear its own costs, Taxes and expenses arising out of or incurred in
connection with this Agreement and all transactions contemplated hereby. 
  

	14.2	 Sellers’ Representative 

 

	 	a)	 By virtue of their execution of this Agreement, the Sellers designate and appoint Seller 6 (the
“Sellers’ Representative”) as their authorized representative and general attorney-in-fact under this Agreement, with the right of substitution and
multiple representation, to exercise any rights and to give and receive notices and communications on behalf of the Sellers under this Agreement. Notices or communications to or from the Sellers’ Representative constitute notice to or from the
Sellers for all purposes under this Agreement. 

  

	 	b)	 In the event of any inability to act of the Sellers’ Representative, a successor Sellers’
Representative will be appointed promptly by the Sellers, and the Sellers will so notify the Buyer. Each successor Sellers’ Representative has all of the power, authority and rights conferred by this Agreement upon the original Sellers’
Representative. 

  

	 	c)	 A decision, act, consent or instruction of the Sellers’ Representative constitutes a decision, act,
consent or instruction of the Sellers and is final, binding and conclusive upon the Sellers, and the Buyer may rely upon any such decision, act, consent or instruction of the Sellers’ Representative as being the decision, act, consent or
instruction of the Sellers. 

  

	 	d)	 This appointment and grant of power and authority by the Sellers to the Sellers’ Representative pursuant
to this Section 14.2 is irrevocable and may not be terminated by the act of any Seller or by operation of law, whether upon the winding-up, liquidation, death or incapacity of any Seller or any insolvency
event of any Seller, or by the occurrence of any other event. 

			
		  	
 40

  

	14.3	 Notices 

All notices and other communications to be given by any Party under this Agreement shall be made in writing and shall be delivered by
(i) registered mail (return receipt requested) or (ii) an internationally recognized courier, in each case anticipated by email, to the following addresses: 

If to the Sellers, to the Sellers’ Representative’s address: 

Badertscher Attorneys 
 Attn:
Dr. Thomas M. Rinderknecht 
 Grafenauweg 6 

P.O.Box 7243 
 CH-6302 Zug 
 Switzerland 

Tel: +41 41 726 60 60 
 Fax: +41
41 726 60 66 
 Email: rinderknecht@b-legal.ch 

With a copy to (which shall not constitute notice): 

BMA BRUNONI MOTTIS & ASSOCIATI STUDIO LEGALE SA 

Attn: Andrea Visani 
 Via C.
Frasca 5 
 Casella postale 5272 

CH-6901 Lugano 

Switzerland 
 Tel: +41 91 911 95
50 
 Fax: +41 91 911 95 55 

Email: andrea.visani@bmalegal.ch 

If to the Buyer: 
 RELIEF
THERAPEUTICS Holding SA 
 Attn: Jack Weinstein, CFO and Treasurer 

avenue de Sécheron 15 
 CH-1202 Geneva 
 Switzerland 

Email: jack.weinstein@relieftherapeutics.com 

With a copy to (which shall not constitute notice): 

VISCHER AG 
 Attn: Dr. Robert
Bernet 
 Schützengasse 1 

P.O.Box 
 CH-8021 Zurich 
 Switzerland 

Email: rbernet@vischer.com 
 or
such other address as any Party may notify to the other Parties in accordance with the above. 
 Any notice or communication shall be deemed
to have been delivered on the Business Day on which it has been received (by registered mail, email or courier) by the recipient thereof. 

			
		  	
 41

  

	14.4	 Waiver 

Failure of any of the Parties to enforce any of the provisions of this Agreement or any rights with respect thereto shall (i) in no way be
considered as a waiver of such provisions or rights and (ii) not in any way affect the validity of this Agreement. The waiver of any breach of agreement by any Party shall not operate to be construed as a waiver of any other prior or subsequent
breach. 
  

	14.5	 Entire Agreement 

This Agreement together with its Annexes constitutes the entire agreement between the Parties with respect to the subject matter hereof and
supersedes all other prior written and oral agreements between the Parties relating thereto. 
  

	14.6	 Severability 

If any provision of this Agreement is held to be invalid or unenforceable for any rea-son it shall be
revised rather than rendered void, if possible, in order to achieve the intent of the Parties to this Agreement to the fullest extent possible. In any event, all other provisions of this Agreement shall be deemed valid and enforceable to the fullest
extent possible. The same shall apply in case of a gap. 
  

	14.7	 Amendment 

This Agreement (including this Section 14.7) may be amended only in writing through a document duly signed by each Party. 

 

	14.8	 Assignment 

No Party hereto shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other Parties,
provided, however, that the Buyer may assign this Agreement or any rights or obligations hereunder to any of its Affiliates. 
  

	14.9	 Governing Law 

This Agreement shall be governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of law
principles and international treaties excluding the conflict of law rules and excluding treaties or international conventions such as the UN-Convention on Contracts for the International Sale of Goods dated
11 April 1980. 
  

	14.10	 Jurisdiction 

Any dispute, controversy or claim arising out of or in relation to this Agreement, including the validity, invalidity, breach or termination
thereof, shall be submitted to the exclusive jurisdiction of the ordinary courts of Zurich 1, Switzerland. 
 [Remainder of the page
left intentionally blank. Signature pages follow.] 

			
		  	
 42

  

			
	The Seller 1: Paolo Galfetti
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 2: Giorgio Reiner
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 3: Alessandro Bossi
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 4: Massimo Poletti
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney

			
		  	
 43

  

			
	The Seller 5: Onelife AG
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 6: Dr. Thomas M. Rinderknecht
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 7: HBM BioCapital II LP
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 8: AKT s.r.l.
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney

			
		  	
 44

  

			
	The Seller 9: Valentina Reiner
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 10: Jacques Gonella
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Seller 11: Enrico Braglia
	
	 /s/ Andrea Visani

	Name:	 	Andrea Visani
	Function:	 	By power of attorney
	
	The Buyer: RELIEF THERAPEUTICS Holding SA
	
	 /s/ Peter Kühn

	Name:	 	Dr. Peter Kühn
	Function:	 	By power of attorneyEX-10.2

 Exhibit 10.2 

Execution Copy 
 CERTAIN CONFIDENTIAL
INFORMATION INDICATED BY “[***]” HAS BEEN OMITTED FROM THE FILED COPY OF THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED 

SHARE EXCHANGE AGREEMENT 

dated as of 28 May 2021 

between 
  

			
	 Wolfgang Peter Hoppe
  

Zum Roten Stein 8
 D-79108
Freiburg im Breisgau
 Germany
	  	
		
		  	(the “Seller 1”)
		
	Henrik Bulskov	  	
		
		  	(the “Seller 2”)
		
	Prof. Dr. Joachim Müller-Quernheim	  	
		
		  	(the “Seller 3”)
		
	Dr. Björn Christian Frye	  	
		
		  	(the “Seller 4”)
		
	Marc Alexander Kessemeier	  	
		
	BG Consulter GmbH	  	
		
		  	(the “Seller 6”)
		
	APARA-Bioscience GmbH	  	
		
		  	(the “Seller 7”)

			
		  	
 2

  

			
		
	Ulrich Birsner	  	
		
		  	(the “Seller 8”)
		
	Annette Marlene Schätzle	  	
		
		  	 (the “Seller 9”)

(Seller 1 through Seller 9 together the “Sellers”

and each individually a “Seller”)

		
	and	  	
		
	 RELIEF THERAPEUTICS Holding SA
  

avenue de Sécheron 15

CH-1202 Geneva

Switzerland
	  	
		  	(the “Buyer”)

 regarding the sale and purchase of all shares in 

AdVita Lifescience GmbH 

			
		  	
 3

  

 TABLE OF CONTENT 
  

							
	PREAMBLE	  	 	6	 
			
	1.	  	DEFINITIONS AND INTERPRETATION	  	 	7	 
			
	1.1	  	DEFINITIONS	  	 	7	 
	1.2	  	INTERPRETATION	  	 	7	 
			
	2.	  	SALE AND PURCHASE	  	 	7	 
			
	3.	  	PURCHASE PRICE	  	 	7	 
			
	3.1	  	PAYMENT SHARES AND MILESTONES	  	 	7	 
	3.2	  	PAYMENT OF THE PURCHASE PRICE	  	 	8	 
	3.3	  	ESCROW	  	 	9	 
	3.4	  	NO LEAKAGE	  	 	10	 
			
	4.	  	ACTIONS BETWEEN SIGNING AND CLOSING	  	 	11	 
			
	4.1	  	IN GENERAL	  	 	11	 
	4.2	  	FOREIGN INVESTMENT CONDITION	  	 	11	 
	4.3	  	PRE-CLOSING COVENANTS OF THE SELLERS	  	 	11	 
			
	5.	  	CONDITIONS PRECEDENT TO CLOSING	  	 	12	 
			
	5.1	  	CONDITIONS TO THE OBLIGATIONS OF EACH PARTY	  	 	12	 
	5.2	  	CONDITIONS PRECEDENT REGARDING THE OBLIGATIONS OF THE BUYER	  	 	13	 
	5.3	  	WAIVER OF NON-SATISFIED CONDITIONS	  	 	13	 
	5.4	  	RIGHT OF TERMINATION	  	 	13	 
			
	6.	  	CLOSING	  	 	14	 
			
	6.1	  	CLOSING DATE AND PLACE	  	 	14	 
	6.2	  	ACTIONS BY THE SELLERS	  	 	14	 
	6.3	  	ACTIONS BY THE BUYER	  	 	15	 
	6.4	  	SIMULTANEOUS CLOSING ACTIONS	  	 	15	 
	6.5	  	CLOSING MEMORANDUM	  	 	15	 
	6.6	  	BENEFIT AND RISK	  	 	15	 
			
	7.	  	REPRESENTATIONS AND WARRANTIES OF THE SELLERS	  	 	15	 
			
	7.1	  	INCORPORATION AND AUTHORITY	  	 	15	 
	7.2	  	SHARES	  	 	16	 
	7.3	  	INCORPORATION AND QUALIFICATION	  	 	17	 
	7.4	  	LITIGATION	  	 	18	 
	7.5	  	FINANCIAL STATEMENTS	  	 	18	 
	7.6	  	TAXES	  	 	20	 
	7.7	  	ASSETS	  	 	21	 
	7.8	  	COMPLIANCE	  	 	21	 
	7.9	  	MATERIAL CONTRACTS	  	 	21	 
	7.10	  	PERMITS AND LICENSES	  	 	23	 
	7.11	  	CLINICAL TRIALS	  	 	23	 
	7.12	  	INSURANCE	  	 	24	 
	7.13	  	INTELLECTUAL PROPERTY RIGHTS	  	 	24	 
	7.14	  	IT SYSTEMS	  	 	25	 
	7.15	  	DATA PROTECTION COMPLIANCE	  	 	26	 

			
		  	
 4

  

							
	7.16	  	PRODUCTS	  	 	26	 
	7.17	  	CONDUCT OF BUSINESS SINCE THE LOCKED BOX DATE	  	 	27	 
	7.18	  	EMPLOYMENT MATTERS	  	 	28	 
	7.19	  	SOCIAL SECURITY AND PENSIONS	  	 	29	 
	7.20	  	REAL ESTATE	  	 	30	 
	7.21	  	M&A TRANSACTIONS	  	 	30	 
	7.22	  	CORPORATE BOOKS	  	 	30	 
	7.23	  	NO BROKER’S FEES	  	 	30	 
	7.24	  	CERTAIN PAYMENTS	  	 	30	 
	7.25	  	AFFILIATES AND CONNECTED PERSONS	  	 	31	 
	7.26	  	FULL DISCLOSURE	  	 	31	 
	7.27	  	NO BREACH OF WARRANTY	  	 	31	 
			
	8.	  	REPRESENTATIONS AND WARRANTIES OF THE BUYER	  	 	31	 
			
	8.1	  	INCORPORATION AND AUTHORITY	  	 	31	 
	8.2	  	EFFECT OF EXECUTION OF AGREEMENT	  	 	32	 
	8.3	  	CONSENT	  	 	32	 
	8.4	  	PAYMENT SHARES	  	 	32	 
	8.5	  	NO BREACH OF WARRANTY	  	 	33	 
			
	9.	  	EXCLUSIVE REPRESENTATIONS AND WARRANTIES	  	 	33	 
			
	10.	  	REMEDIES OF BUYER FOR BREACH OF REPRESENTATIONS AND WARRANTIES	  	 	33	 
	10.1	  	SELLERS’ RIGHT TO CURE AND SELLERS’ LIABILITY	  	 	33	 
	10.2	  	NOTICE OF BREACH	  	 	33	 
	10.3	  	TERM	  	 	34	 
	10.4	  	THIRD PARTY CLAIMS	  	 	34	 
	10.5	  	REDUCTION OF LIABILITY	  	 	35	 
	10.6	  	LIMITATION OF LIABILITY	  	 	36	 
	10.7	  	REMEDIES OF THE SELLERS	  	 	36	 
			
	11.	  	SPECIFIC INDEMNITIES	  	 	37	 
			
	11.1	  	GENERAL	  	 	37	 
	11.2	  	TAXES	  	 	37	 
	11.3	  	OTHER SPECIFIC INDEMNITIES	  	 	37	 
			
	12.	  	OTHER COVENANTS	  	 	37	 
			
	12.1	  	CONFIDENTIALITY	  	 	37	 
	12.2	  	PUBLIC ANNOUNCEMENTS	  	 	38	 
	12.3	  	NON-COMPETITION AND NON-SOLICITATION BY THE
SELLERS	  	 	38	 
			
	13.	  	MISCELLANEOUS	  	 	39	 
			
	13.1	  	COSTS AND TRANSFER TAXES	  	 	39	 
	13.2	  	SELLERS’ REPRESENTATIVE	  	 	39	 
	13.3	  	NOTICES	  	 	39	 
	13.4	  	WAIVER	  	 	40	 
	13.5	  	ENTIRE AGREEMENT	  	 	41	 
	13.6	  	SEVERABILITY	  	 	41	 
	13.7	  	AMENDMENT	  	 	41	 

			
		  	
 5

  

					
	13.8	  	ASSIGNMENT	  	41
	13.9	  	GOVERNING LAW	  	41
	13.10	  	JURISDICTION	  	41
		
	TABLE OF ANNEXES	  	46
		
	ANNEX D – SHAREHOLDERS	  	47
		
	ANNEX 1 – DEFINITIONS	  	48
		
	ANNEX 2 – SHAREHOLDERS’ RESOLUTION	  	53
		
	ANNEX 3.3 – ESCROW AGREEMENT	  	54
		
	ANNEX 3.4 – PERMITTED LEAKAGE	  	57
		
	ANNEX 4.3 – BUDGET	  	56
		
	ANNEX 5.2D) – TERMINATION AGREEMENT CLEMENS ALBER	  	57
		
	ANNEX 5.2E) – TERMINATION AGREEMENT SYLVIA RITTHALER	  	58
		
	ANNEX 6.2B) – TRANSFER DEED	  	59
		
	ANNEX 6.2C) – NEW EMPLOYMENT AGREEMENTS	  	60
		
	ANNEX 7.1C) – SPOUSES’ CONSENTS	  	61
		
	ANNEX 7.3F)(I) – EXCERPT FROM THE COMMERCIAL REGISTER OF THE COMPANY	  	62
		
	ANNEX 7.3F)(II) – ARTICLES OF ASSOCIATION OF THE COMPANY	  	63
		
	ANNEX 7.3F)(III) – CERTIFICATE OF INCORPORATION OF THE US SUBSIDIARY	  	64
		
	ANNEX 7.3F)(IV) – BY-LAWS OF THE US SUBSIDIARY	  	65
		
	ANNEX 7.3F)(V) – EXCERPT FROM THE COMMERCIAL REGISTER OF THE SWISS SUBSIDIARY	  	66
		
	ANNEX 7.3F)(VI) – ARTICLES OF ASSOCIATION OF THE SWISS SUBSIDIARY	  	67
		
	ANNEX 7.4 – LITIGATION	  	68
		
	ANNEX 7.5A) – FINANCIAL STATEMENTS	  	69
		
	ANNEX 7.5E) – INDEBTEDNESS	  	70
		
	ANNEX 7.9A) – MATERIAL CONTRACTS	  	71
		
	ANNEX 7.10A) – LICENSES	  	73
		
	ANNEX 7.13A) – IP RIGHTS	  	74
		
	ANNEX 7.18A) – LIST OF EMPLOYEES AND FREELANCERS	  	76
		
	ANNEX 7.18C) – OTHER EMPLOYEES’ AND FREELANCERS’ ENTITLEMENTS	  	77
		
	ANNEX 10.5E) – DISCLOSED INFORMATION	  	78

			
		  	
 6

  

 PREAMBLE 
  

	A.	 AdVita Lifescience GmbH is a limited liability company organized under the laws of Germany, registered with the
commercial register of the Regional Court (Amtsgericht) of Freiburg im Breisgau, Germany, under the number HRB 719974, with legal domicile at Alte Bundesstraße 20, D-79194 Gundelfingen, Germany
(the “Company”). The registered share capital (Stammkapital) of the Company amounts to EUR 25,918, divided into 25,918 shares (Geschäftsanteile) with a nominal value of EUR 1.00 each, all
fully paid-in (each a “Share” and several or all of them the “Shares”, as the context requires). 

 

	B.	 The main purpose of the Company as set forth in the articles of association and registered with the commercial
register is the development, production and distribution of diagnostic and pharmaceutical technologies, marketing strategies and products. The Company is developing effective products and strategies to improve the therapy and diagnostics of rare
lung diseases (the “Business”). The Business currently conducted by the Company is limited to the development, the conduct of clinical trials and, solely for the purpose of the clinical trial, the manufacturing (outsourced) of
investigational medicinal products. 

  

	C.	 The Company directly owns (i) all the shares in AdVita Lifescience Inc., c/o Reiss + Colleagues P.C., 420
Lexington Avenue, Suite 2818, New York, NY 10170, US (the “US Subsidiary”), and (ii) all of the 100,000 common registered shares (Namenaktien) with a par value of CHF 1.00 of the Swiss corporation AdVita Lifescience AG,
registered with the commercial register of the canton of Basel-City under company number CHE-407.216.721 and with legal domicile at Lautengartenstrasse 14, 4052 Basel (the “Swiss Subsidiary”;
the Company, the US Subsidiary and the Swiss Subsidiary each a “Group Company” and together the “Group Companies” or the “Group”). 

 

	D.	 The Sellers are the sole owners of all Shares without any encumbrances as set forth in Annex D.

  

	E.	 The Buyer is a Swiss corporation organized under the laws of Switzerland, registered with the commercial
register of the canton of Geneva under company number CHE-113.516.874, with legal domicile at avenue de Sécheron 15, CH-1202 Geneva, Switzerland. The registered
share capital (Aktienkapital) of the Buyer amounts to CHF 33,717,272.48, divided into 3,371,727,248 common registered shares (Namenaktien) with a nominal value of CHF 0.01 each, all fully
paid-in (each a “Buyer Share” and several or all of them the “Buyer Shares”, as the context requires). 

 

	F.	 The Buyer is active as a biopharmaceutical company with its lead compound
RLF-100TM (Aviptadil) in advanced clinical development to treat severe COVID-19 patients. 

 

	G.	 On 19 January 2021, the Sellers and the Buyer entered into a binding term sheet (the “Binding Term
Sheet”), pursuant to which the Buyer agreed to purchase from the Sellers and the Sellers agreed to sell to the Buyer, all Shares of the Company, in exchange for EUR 25,000,000 of Buyer Shares and possible future contingent milestone
payments of up to EUR 20,000,000 in cash. 

  

	H.	 Simultaneously with entering into the Binding Term Sheet, the Parties entered into a convertible loan
agreement, pursuant to which the Buyer agreed to grant the Company a loan in the total amount of EUR 2,000,000 (the “Convertible Loan Agreement”). 

			
		  	
 7

  

	I.	 Following the confirmatory due diligence by the Buyer and its legal, financial and other advisors, the Sellers
and the Buyer now wish to further formalize Binding Term Sheet by entering into this Agreement. 

 Therefore, the Sellers and the Buyer
(each a “Party” and together the “Parties”) have come to the following agreement: 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Definitions 

Capitalized terms shall have the meaning assigned to such terms in Annex 1. 

 

	1.2	 Interpretation 

  

	 	a)	 Unless the context otherwise requires, words denoting the singular shall include the plural and vice versa and
references to any gender shall include all other genders. 

  

	 	b)	 Whenever the words “include”, “includes”, “including” and “in
particular” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. 

  

	 	c)	 Any reference to “writing” or “written” includes any legible reproduction of words
delivered in permanent and tangible form, including PDF files transmitted by email (but does not include plain email). 

  

	2.	 SALE AND PURCHASE 

Subject to the terms and conditions of this Agreement, each of the Sellers hereby sells (verkauft) and shall transfer and assign
(übertragen und abtreten) by way of a separate notarial deed at Closing to the Buyer, and the Buyer hereby purchases and shall accept the transfers and assignments under such separate notarial deed at Closing from the Sellers, of all of
the Shares held by the respective Seller free and clear from any encumbrances. The Shares are sold together with all ancillary rights including the right to profits which have not yet been distributed. The shareholders’ meeting of the Company
has approved the transactions contemplated hereby by way of the shareholders’ resolution attached hereto as Annex 2. 
  

	3.	 PURCHASE PRICE 

 

	3.1	 Payment Shares and Milestones 

The purchase price for all the Shares shall consist of: 
  

	 	a)	 a fixed price of EUR 25,000,000 solely payable in Buyer Shares (the “Payment Shares”), being
computed as the product of the lower of: 

  

	 	i)	 the closing price of Buyer Shares as of the Trading Day immediately preceding the Closing Date in EUR, applying
the CHF-EUR Exchange Rate of the Trading Day immediately preceding the Closing Date, and 

			
		  	
 8

  

	 	ii)	 the 60 Day VWAP preceding the Closing Date, multiplied by the number of Buyer Shares to equal EUR 25,000,000
(less any Leakage other than Permitted Leakage) (with any fractions of Buyer Shares to be rownded up). 

  

	 	b)	 possible future contingent milestone payments in the aggregate maximum amount of up to EUR 20,000,000, each
payable upon achievement of specific objectives as follows (each a “Milestone” and together the “Milestones”): 

  

	 	i)	 EUR 5,000,000 upon the issuance of one of the Patents, 

	 	

	 	ii)	 EUR 5,000,000 upon the first regulatory approval in the US or Europe for the inhaled form of Aviptadil for the
prevention or therapy of acute respiratory distress syndrome (ARDS) or acute lung injury (ALI), 

	 	

	 	iii)	 EUR 5,000,000 upon regulatory approval in the US or Europe for the inhaled form of Aviptadil for the treatment
of sarcoidosis or berylliosis, and 

	 	

	 	iv)	 EUR 5,000,000 for the identification of a partner for co-development or
start of a clinical trial phase II in checkpoint inhibitor induced pneumonitis, 

 (together the “Purchase
Price”). 
  

	3.2	 Payment of the Purchase Price 

At Closing, the Buyer shall transfer: 
  

	 	a)	 the Payment Shares less (i) the Escrow Shares and (ii) any Leakage (other than Permitted Leakage)
(the “Closing Payment”), by electronic transfer of the relevant number of Buyer Shares to the Sellers’ securities account no. [***] unless otherwise notified by the Sellers to the Buyer no later than ten Business Days before
Closing (the “Sellers’ Securities Account”). 

  

	 	b)	 the Escrow Shares, by electronic transfer of the relevant number of Buyer Shares, to the Escrow Securities
Account (the “Escrow Payment”). 

 For the purposes of deducting the Leakage from the number of Payment
Shares, the amount of any Leakage (if any), calculated in EUR or, if the Leakage is incurred in any currency other than EUR, at the applicable EUR Exchange Rate, is deducted from the fixed price of EUR 25,000,000 as set forth in
Section 3.1a) above. 
 The Sellers will allocate the Closing Payment among themselves at their sole discretion, whereas the Buyer shall
be fully released and discharged from its obligation to pay the Closing Payment upon crediting of the Closing Payment on the Sellers’ Securities Account and, accordingly, there shall be no liability or duty whatsoever by the Buyer in connection
with such allocation of the Closing Payment among the Sellers. 
 Within ten Business Days upon the achievement of the first Milestone (as
documented reasonably satisfactory to the Buyer) the Escrow Cash Amount shall be paid to the Escrow Cash Account and the remainder of the first Milestone shall be paid to the bank account of the Sellers notified by the Sellers to the Buyer no later
than ten Business Days before such designated payment date (the “Sellers’ Bank Account”). 
 Any further Milestone
payments shall be made within ten Business Days upon the achievement of such Milestone (as documented reasonably satisfactory to the Buyer) to the Sellers’ Bank Account. 

			
		  	
 9

  

	3.3	 Escrow 

As a security for any claims of the Buyer under this Agreement, the Buyer shall (i) on the Closing Date transfer an amount of EUR
1,500,000 in Buyer Shares (with any fractions of Buyer Shares to be rounded up) (the “Escrow Shares”) to a securities account opened in the name of the Escrow Agent (the “Escrow Securities Account”) and (ii) at
the agreed date of payment upon fulfilment of the first Milestone pursuant to Section 3.1b), transfer an amount of EUR 2,500,000 (the “Escrow Cash Amount”) to a bank account opened in the name of the Escrow Agent (the
“Escrow Cash Account”). The Escrow Shares and the Escrow Cash Amount shall be kept in escrow under the terms of an escrow agreement to be entered into at the Closing by the Sellers, the Buyer and the Escrow Agent, substantially in
the form set forth in Annex 3.3 to be finalized pursuant to the terms hereof (the “Escrow Agreement”). 

The Escrow Shares shall be released to the Sellers’ Securities Account as follows: 

 

	 	i)	 Amounts of EUR 187,500 each payable in Buyer Shares to be calculated in accordance with Section 3.1a)
(mutatis mutandis) (with any fractions of Buyer Shares to be rounded up) (each a “Tranche”) shall be released to the Sellers’ Securities Acccount upon Dr. Dorian Bevec uninterruptedly remaining in an unterminated
(unless terminated (A) by the Company other than for cause (aus wichtigen Gründen) or material breaches by Dr. Dorian Bevec of the duties under the employment agreement, (B) by Dr. Dorian Bevec for cause
or material breaches by the Company of the duties under the employment agreement or (C) due to death or permanent disability (dauerhafte Arbeitsunfähigkeit) of Dr. Dorian Bevec (each of (A), (B) and (C), a
“Termination Event”)) employment relationship with the Company for each three months’ period following the Closing Date, up to an aggregate amount of up to EUR 1,500,000 in Buyer Shares after 24 months following the
Closing Date. 

 If, upon a Tranche falling due, the balance of the Escrow Securities Account does not cover such Tranche,
the Buyer shall transfer, at its sole discretion, (i) the shortfall of Buyer Shares to the Sellers’ Securities Account or (ii) a cash amount in Euro equivalent to such shortfall to the Sellers’ Bank Account. 

In case of a Termination Event, the balance on the Escrow Securities Account less any payments made to the Sellers according to this
Section 3.3i), shall be released to the Sellers. In an event of a termination of the employment agreement with Dr. Dorian Bevec (other than a Termination Event) the balance on the Escrow Securities Account less any payments made to the
Sellers according to this Section 3.3i), shall be released to the Buyer. 
  

	 	ii)	 12 months after the Closing, the balance of the Escrow Cash Account, less the amount of any claim under a
Notice of Breach, shall be released to the Sellers by transfer to the Sellers’ Bank Account. 

 Any cash payments
according to this Section 3.3 shall be made within ten Business Days upon the occurrence of the obligation to release part of the Escrow Cash Amount. 

			
		  	
 10

  

 Any transfer of Escrow Shares according to this Section 3.3 shall be made promptly on
the day the obligation to release such Escrow Shares arises or – if such day is not a Business Day – on the next Business Day thereafter. 

The fees and expenses of the Escrow Agent shall be borne equally by the Parties (i.e., 50% by the Sellers and 50% by the Buyer). 

 

	3.4	 No Leakage 

The Sellers shall indemnify and hold harmless the Buyer in terms of a non-accessory guarantee in the
sense of art. 111 CO, Swiss Franc for Swiss Franc, irrespective of any fault of the Sellers (verschuldensunabhängig), without any deductions and any right of set-off of the Sellers, for and
from any Leakage suffered, incurred or discharged by the Company during the period from (and excluding) the Locked Box Date to (and including) the Closing Date, except for the permitted Leakage set forth in Annex 3.4 (the
“Permitted Leakage”). No limitations of the Sellers’ liabilities under this Agreement shall apply to any claims the Buyer may have under or in connection with this Section 3.4. 

“Leakage” shall mean any dividend or other distribution of profits or assets, or any payments in lieu of any dividend or
distribution of profits or assets from the Company, including: 
  

	 	a)	 any dividend, or other distribution declared, paid or made by the Company; 

 

	 	b)	 any redemption or purchase of shares or return of capital by the Company; 

 

	 	c)	 any payments made by the Company to, or assets transferred to or liabilities assumed, indemnified or incurred
for the benefit of, a Seller, an Affiliate of a Seller or a Connected Person of a Seller; 

  

	 	d)	 the making of any gift or other gratuitous payment or other benefit or the sale or disposal or purchase of any
asset by the Company; 

  

	 	e)	 the waiver by the Company of any amount owed to the Company by a Seller, an Affiliate of the Seller or any
Connected Person of a Seller; 

  

	 	f)	 any fees, costs and expenses (and any irrecoverable VAT in respect of such amount) of external advisers engaged
by the Company in relation to the sale of the Shares (including pursuant to this Agreement), which exceed the amount of EUR 50,000; 

  

	 	g)	 any payment, security or loan (including loan repayments, management, monitoring, service or directors’
fees, or charges) by the Company to a Seller, an Affiliate of a Seller or any Connected Person of a Seller; 

  

	 	h)	 agreeing, conditionally or otherwise, to do any of the matters referred to in the paragraphs above.

 If a Seller becomes aware that there has been or will be any Leakage, the Sellers shall promptly notify the Buyer of the
amount and details of such Leakage. 

			
		  	
 11

  

	4.	 ACTIONS BETWEEN SIGNING AND CLOSING 

 

	4.1	 In General 

The Parties shall use their best efforts to procure that the conditions precedent set forth in Section 5 will be satisfied on or before
the Closing Date. 
  

	4.2	 Foreign Investment Condition 

Buyer has the primary responsibility for the satisfaction of and compliance with the Foreign Investment Condition set forth in
Section 5.1a)ii, insofar as it will prepare the draft filings to the BMWi, but without Buyer, subject to the terms and conditions of this Agreement, being obliged to accept any conditions or obligations in order to get an approval, consent, or
clearance decision. The Parties will actively co-operate to ensure the satisfaction of and compliance with the Foreign Investment Condition. In particular, if requested by the BMWi as a condition to approve
the transaction as contemplated under this Agreement, the Buyer undertakes to keep the headquarters of the Company in Germany for the next three years following the Signing Date. 

 

	4.3	 Pre-Closing Covenants of the Sellers 

Between the Signing Date up to and including the Closing Date, except as provided for in the budget of the Company as attached hereto as
Annex 4.3 or where the prior written consent of the Buyer is obtained, the Sellers shall cause the Group to conduct its business, and the Group will be managed, in the ordinary and usual course of business consistent with
past practice and in compliance with all applicable Laws and regulations. 
 Without limiting the foregoing, from the Signing Date up to and
including the Closing Date, except where the prior written consent of the Buyer is obtained or the relevant action is in the ordinary and usual course of business consistent with past practice and in compliance with all applicable Laws and
regulations, the Sellers shall not, and shall procure that the Group Companies do not: 
  

	 	(i)	 adopt or propose any change to its constitutional or corporate documents (including articles of association and
internal regulations); 

  

	 	(ii)	 issue or sell any shares or other securities or any options, warrants or rights to acquire any shares or other
securities; 

  

	 	(iii)	 resolve on, declare, make or pay any dividend or other distribution, payable in cash, stock or otherwise;

  

	 	(iv)	 transfer any shares or other securities that are directly or indirectly held by the Company to a third party;

  

	 	(v)	 merge or consolidate with any other Person, acquire or dispose assets at an individual price of more than EUR
25,000 or effect any business combination, recapitalization or similar transaction; 

  

	 	(vi)	 sell, license out or otherwise dispose of any IP Rights; 

 

	 	(vii)	 except for the Lien in favour of the Buyer according to the Convertible Loan Agreement, create, incur or allow
to be created any Lien on any IP Rights or assets; 

  

	 	(viii)	 create, incur or assume any indebtedness in excess of EUR 25,000 in the aggregate; 

			
		  	
 12

  

	 	(ix)	 except for the convertible loan granted by Relief pursuant to the Convertible Loan Agreement, make, increase or
extend any loan or advance or grant any credit to any third party in excess of EUR 25,000 per item; 

  

	 	(x)	 make any material change in the terms of employment of any director, officer or employee of a Group Company
other than in accordance with past practice or contractual commitments existing at the Signing Date; 

  

	 	(xi)	 form, enter into, vary, terminate or withdraw from any material partnership, consortium or joint venture;

  

	 	(xii)	 make any material change to its accounting procedures, principles or practices in effect at the Signing Date;

  

	 	(xiii)	 make or commit to make any unbudgeted capital expenditure in excess of EUR 25,000 per item or, EUR 100,000 in
the aggregate; 

  

	 	(xiv)	 do anything or omit to do anything that evidently could inhibit or impair the consummation of the transactions
contemplated by this Agreement; 

  

	 	(xv)	 other than in relation to (A) the court proceedings against the Company initiated by Dr. Max Iann
Invest GmbH or (B) the possible claim of springer | kuss Rechtsanwälte Partnerschaft mbB, institute or settle any litigation which is material to a Group Company or where the amount in dispute exceeds EUR 25,000; 

 

	 	(xvi)	 enter into, amend, modify or give notice of, or consent to, the termination of any material agreement or amend,
waive, modify, terminate or consent to the termination of any of a Group Company’s rights thereunder; 

  

	 	(xvii)	 do or omit anything which would be reasonably likely to have a Material Adverse Effect; 

 

	 	(xviii)	 take any action or fail to take any action permitted by this Agreement that would result to the Sellers’
Best Knowledge in (A) any of the representations and warranties of the Sellers set forth in this Agreement becoming untrue, inaccurate or misleading in any respect or (B) any of the Closing Conditions not being satisfied; or

  

	 	(xix)	 agree or commit to do any of the foregoing. 

 

	5.	 CONDITIONS PRECEDENT TO CLOSING 

 

	5.1	 Conditions to the Obligations of each Party 

The respective obligations of the Parties to effect the Closing as provided in Section 6 shall be subject to the satisfaction or waiver
(where permissible) of all of the following conditions precedent: 
  

	 	a)	 All governmental approvals shall have been obtained or, where relevant, any waiting period under the applicable
merger control or foreign investment Laws shall have expired or been terminated by the competent authorities, including, 

  

	 	i.	 any approval by the SIX Swiss Exchange regarding pro-forma financial
information, new (consolidated) financial statements and any listing prospectus or equivalent disclosure, if and to the extent applicable; and 

			
		  	
 13

  

	 	ii.	 the German Ministry for Economics and Energy (the “BMWi”) having issued a statement of non-objection or not having informed the Buyer about the opening of an investigation procedure within the statutory period of two months after having been informing in writing about the transaction (the
“Foreign Investment Condition”). 

  

	 	b)	 No action shall be pending and no order, injunction or decree of any competent court, administrative body or
arbitration tribunal exists which seeks to enjoin, restrain, impede or levy a substantial difficulty on the consummation of the transactions contemplated hereunder. 

	 	

	 	c)	 The employment agreements of Seller 1 and Dr. Dorian Bevec shall have been amended and renewed in a way
satisfactory to the Buyer, in particular, such as to include a non-compete obligation of these employees with regard to the Business and the products of the Group. 

 

	5.2	 Conditions Precedent regarding the Obligations of the Buyer 

The obligations of the Buyer regarding the performance of the transactions contemplated under this Agreement shall be subject to the
satisfaction or waiver by the Buyer (where permissible) of all of the following conditions: 
  

	 	a)	 The representations and warranties of the Sellers made in this Agreement are, to the Sellers’ Best
Knowledge, in all material respects true and correct on the date on which these representations and warranties of the Sellers have been made; 

  

	 	b)	 The Sellers shall have complied in all material respects with their obligations and covenants under this
Agreement on or before Closing; 

  

	 	c)	 No Material Adverse Effect shall have occurred; 

 

	 	d)	 Sellers shall deliver to Buyer a termination agreement with respect to the revenue sharing agreement with
Clemens Alber attached hereto as Annex 5.2d); 

  

	 	e)	 Sellers shall deliver to Buyer a termination agreement with respect to the freelancer agreement with Sylvia
Ritthaler dated 7 January 2020 attached hereto as Annex 5.2e). 

  

	5.3	 Waiver of Non-satisfied Conditions 

The Parties shall inform each other forthwith upon becoming aware of any fact or matter which could reasonably be expected to constitute the non-satisfaction of the conditions precedent set forth in Sections 5.1 and 5.2 (the “Closing Conditions”). The Parties shall enter into good faith negotiations on how to resolve the issue and,
without prejudice to any other provision of this Agreement, each Party shall be entitled to seek to cure at its own expense any breach. 
  

	5.4	 Right of Termination 

Should the Closing Conditions not be satisfied or waived in writing by the Party entitled to waive it on or before 31 July 2021 (the
“Long Stop Date”), each Party may terminate this Agreement by giving notice to the other Party unless the Party wishing to terminate this Agreement wilfully or grossly negligently prevented, hindered, frustrated or interfered with
the satisfaction of any or all the Closing Conditions in which case the other Party may either terminate this Agreement or waive such Closing Condition and request the consummation of the transactions contemplated by this Agreement. 

			
		  	
 14

  

 If this Agreement is terminated pursuant to this Section 5.4, such termination shall be
without liability of either Party to the other Party, provided that if such termination is the result of the wilful or grossly negligent misconduct of a Party such Party shall be liable to the other Party for any damage, loss, cost or expense
incurred or sustained as a result of such misconduct. 
 If this Agreement is terminated pursuant to this Section 5.4, all provisions of
this Agreement shall cease to be effective except for Section 5.4 (Right of Termination), Section 12.1 (Confidentiality), Section 12.2 (Public Announcements) and Section 13 (Miscellaneous). 

 

	6.	 CLOSING 

  

	6.1	 Closing Date and Place 

Subject to the provisions contained herein, the closing of the transactions contemplated in this Agreement (the “Closing”)
shall take place within five Business Days following fulfilment of the Closing Conditions, but latest on the Long Stop Date, or on another date mutually agreed on by the Parties (the “Closing Date”). 

The Closing shall take place at the offices of Dr. Alexander Vivell, Schnewlinstrasse 12, 79098 Freiburg im Breisgau, Germany (the
“Notary”), or at such other location as the Parties may agree. 
  

	6.2	 Actions by the Sellers 

At Closing, the Sellers shall simultaneously with the actions of the Buyer pursuant to Section 6.3 deliver to the Buyer or, as the case
may be, procure Closing actions as follows: 
  

	 	a)	 a notarized power of attorney in original under which any of the documents referred to in this Section 6.2
are executed, including evidence reasonably satisfactory to the Buyer of the authority of any Person signing on behalf of the Sellers; 

  

	 	b)	 execute together with the Buyer before the Notary a share transfer and assignment agreement with respect to the
transfer of the Shares, which is subject to the sole conditions precedent (aufschiebende Bedingung i.S. von § 158 of the German Civil Code) of the occurrence of the Closing Payment and the Escrow Payment, substantially in
form of the draft attached as Annex 6.2b) (the “Transfer Deed”); 

  

	 	c)	 the duly signed new employment agreements of Seller 1 and Dr. Dorian Bevec, substantially in form of the
draft attached as Annex 6.2c); and 

  

	 	d)	 grant to the Buyer an irrevocable and unlimited power of attorney substantially in the form attached as
Annex 6.2b)d) to exercise the Sellers’ respective shareholder rights in the Company prior to the acceptance of the new shareholders’ list in the commercial registry. 

			
		  	
 15

  

	6.3	 Actions by the Buyer 

At Closing, the Buyer shall: 
  

	 	a)	 transfer the Closing Payment to the Sellers’ Securities Account; 

 

	 	b)	 make the Escrow Payment; 

 

	 	c)	 execute together with the Sellers the Transfer Deed; 

 

	 	d)	 deliver the notifications regarding the beneficial owners in original as required by applicable Laws to the
Sellers (acting on behalf of the respective Group Companies); and 

  

	 	e)	 deliver a notarized power of attorney in original under which any of the documents referred to in this
Section 6.3 are executed, including evidence reasonably satisfactory to the Sellers of the authority of any person signing on behalf of the Buyer. 

  

	6.4	 Simultaneous Closing Actions 

The Closing actions of the Sellers pursuant to Sections 6.2b) and 6.3 shall take place immediately before the Closing actions of the Buyer
pursuant to Section 6.3a). The Closing is subject to all actions in Sections 6.2 and 6.3 having been completed. 
 If the Closing
cannot be completed and the respective missing Closing action has not been waived by the respective Party in writing, then all Closing actions or declarations that have already been made or fulfilled shall be deemed null and void (but without
affecting the validity and binding effect of this Agreement). In this event, the Parties undertake to reinstate forthwith the status as it was immediately before the Closing and to return, retransfer and reassign respectively any documents delivered
or any payments or assets already transferred prior to or during the Closing. 
  

	6.5	 Closing Memorandum 

At the Closing, the Parties shall execute a Closing memorandum, jointly prepared by the Parties prior to Closing, which shall serve as evidence
for the consummation of the Closing actions. 
  

	6.6	 Benefit and Risk 

Subject to the provisions of this Agreement (including the rights of the Buyer under Sections 7 and 11) and subject to the occurrence of
the Closing, the commercial benefit and risk with regard to the Shares shall retroactively pass to the Buyer as of the Locked Box Date. 
  

	7.	 REPRESENTATIONS AND WARRANTIES OF THE SELLERS 

The Sellers represent and warrant with effect as of the Signing Date and as of the Closing Date the following: 

 

	7.1	 Incorporation and Authority 

 

	 	a)	 Each of the Seller 6 and the Seller 7 is validly incorporated, duly organized and lawfully existing as a
limited liability company in accordance with the laws of Germany. 

			
		  	
 16

  

	 	b)	 Each Seller individually represents that no bankruptcy, insolvency, composition or similar proceedings with
general effect on its assets have been commenced or threatened against it and that there are no legal grounds to commence any such proceedings. There are no actions, suits or proceedings pending against the Sellers or any Affiliate of the Sellers
(other than the Company) before any court or administrative authority, agency or commission which involve a claim by a governmental or regulatory authority, or by a third party, which would operate to hinder or substantially impair the consummation
of the transactions contemplated by this Agreement. The Sellers have no knowledge of any actions, suits or proceedings in accordance with the preceding sentence which have been threatened in writing to be filed or instituted against the Sellers or
against any Affiliate of the Sellers (other than the Company). 

  

	 	c)	 Each Seller has the absolute and unrestricted right, power, authority and capacity and it has taken all actions
and obtained all consents and approvals (including from corporate bodies, spouses (as per Annex 7.1c)) and authorities, or otherwise) necessary to execute, and perform its obligations under this Agreement. 

 

	 	d)	 Each Seller individually represents that there are no limitations under applicable Law, any order, judgement or
decree of any competent authority, or any contracts by which it is bound that would prevent it from entering into or performing its obligations under this Agreement. 

 

	7.2	 Shares 

  

	 	a)	 Other than Seller 1 who holds 2% of the Shares for the benefit of third parties and Seller 5 who holds 1% of
the Shares for the benefit of other third parties, and to the exception of the Lien and other rights granted to the Buyer under the Convertible Loan Agreement, each Seller represents individually that it is the sole and unrestricted legal and
beneficial owner of the Shares as set forth in Annex D, free and clear of any Lien and rights of third parties of any nature (including options, voting obligations or restrictions or other rights of whatever nature
restricting the ownership, the disposability or the voting rights), and neither of the Sellers nor the Company are under any obligation to grant or create any such Liens or third party rights. The Shares sold under this Agreement constitute all of
the outstanding shares of the Company. 

  

	 	b)	 Each Seller represents individually that, on the Closing Date, it assigns and transfers full legal and
beneficial ownership of the Shares sold by it hereunder to the Buyer, subject to the Lien and other rights granted to the Buyer under the Convertible Loan Agreement, free and clear from any Liens and third party rights, and the Buyer will be the
sole and unrestricted owner of such Shares. 

  

	 	c)	 Each Seller represents individually that there is no litigation, arbitration, prosecution, administrative or
other legal proceedings or dispute in existence or to such Seller’s Best Knowledge threatened against it in respect of its Shares or its entitlement to dispose of its Shares. 

 

	 	d)	 There are no resolutions pending to increase the authorized or issued share capital of the Company and, other
than with regard to the Lien and other rights granted to the Buyer under the Convertible Loan Agreement, there are no options, conversion rights or other commitments outstanding under which the Company is required to issue shares or other equity
securities. 

			
		  	
 17

  

	 	e)	 The Shares are validly issued, fully paid in and free of obligations to make additional capital payments, and
represent the entire issued share capital of the Company, and the share capital of the Company has not been repaid in whole or in part. As of the Closing Date, to the exception of the Lien and other rights granted to the Buyer under the Convertible
Loan Agreement, there are no further shares, non-voting stock, other equity participation rights or options, convertible instruments or warrants with regard to the Company, or entitlements for the obtaining of
such instruments or rights, or agreements which could result in the creation of such entitlements, or any other agreements of any character relating to the sale, issuance or voting of, or the granting of rights to acquire, any of the shares in the
Company. 

  

	 	f)	 Other than the US Subsidiary and the Swiss Subsidiary, and the intended formation of a subsidiary in Austria,
the Company has no subsidiaries, branches, permanent establishments or representation offices and it does not own, directly or indirectly, any participation or other interest in any other companies, partnerships or other businesses.

  

	 	g)	 The Company is the sole legal and beneficial direct owner of all the shares in the US Subsidiary and the Swiss
Subsidiary. 

  

	7.3	 Incorporation and Qualification 

 

	 	a)	 The Company is a limited liability company validly incorporated, duly organized and lawfully existing in
accordance with the laws of Germany having its registered domicile in Gundelfingen, Germany. 

  

	 	b)	 The US Subsidiary is a Delaware corporation validly incorporated, duly organized and lawfully existing in
accordance with the laws of Delaware having its registered domicile in New York, US. 

  

	 	c)	 The Swiss Subsidiary is a Swiss corporation validly incorporated, duly organized and lawfully existing in
accordance with the laws of Switzerland having its registered domicile in Basel, Switzerland. 

  

	 	d)	 The Group Companies have full corporate power and authority to own or use their assets and properties to carry
on the Business as now being conducted. 

  

	 	e)	 No proceedings are pending or, to the Sellers’ Best Knowledge, threatened, no order has been made and no
resolution has been passed or shareholders’ meeting convened which could lead to the voluntary or involuntary winding-up, liquidation or other dissolution of any Group Company. No bankruptcy proceedings
or composition or general assignment proceedings are pending or, to the Sellers’ Best Knowledge, threatened or have been applied for with regard to a Group Company. None of the Group Companies is insolvent or unable or, to the Sellers’
Best Knowledge, threatened to be unable to pay its debt as they fall due. 

			
		  	
 18

  

	 	f)	 The information set out in (i) the certified excerpt from the commercial register regarding the Company as
set forth in Annex 7.3f)(i), (ii) the certified copy of the current articles of association of the Company as set forth in Annex 7.3f)(ii), (iii) the certificate of incorporation of the US
Subsidiary as set forth in Annex 7.3f)(iii), (iv) the by-laws of the US Subsidiary as set forth in Annex 7.3f)(iv), (v) the certified excerpt
from the commercial register of the Swiss Subsidiary as set forth in Annex 7.3f)(v), and (vi) the certified copy of the current articles of association of the Swiss Subsidiary as set forth in
Annex 7.3f)(vi), is up to date, correct and complete. In particular, there are no other or further signatory rights, powers of attorney or other rights to represent any Group Company. There are no procedures,
resolutions, agreements or applications pending with the effect of altering such information. There have never been any matters with respect to any Group Company that must be registered in the commercial register, including any contributions in kind
and/or (intended) contributions in kind, that were not registered in the commercial register. 

  

	 	g)	 The shareholders of the Company, and the Company with respect to the US Subsidiary and the Swiss Subsidiary,
have always complied with their obligations with respect to the notification of their beneficial owners pursuant to applicable Law. 

  

	7.4	 Litigation 

  

	 	a)	 Except as set forth in Annex 7.4, the Group Companies are not engaged in any litigation, action, suit,
legal or administrative proceeding, arbitration or alternative dispute resolution proceeding pending before any Governmental Authority (each a “Litigation”), and there is no such Litigation threatened in writing.

  

	 	b)	 The Group Companies are not the subject of any investigation, inquiry or enforcement proceedings or process by
any Governmental Authority, nor has any Group Company received any written notice of any such investigation, inquiry, proceeding or process. 

  

	 	c)	 The Group Companies are not subject to any decision, order or decree by any court, arbitral tribunal or
administrative board or any settlement that imposed any outstanding or ongoing obligations on any Group Company. 

  

	7.5	 Financial Statements 

 

	 	a)	 Annex 7.5a) contains copies of the unaudited financial statements of the Company for the business
year ended 31 December 2020 and the business assessment (betriebswirtschaftliche Auswertung) as per 31 March 2021, together with the notes (collectively the “Financial Statements”). 

 

	 	b)	 The Financial Statements: 

 

	 	•	 	 were prepared in accordance with the applicable statutory provisions, preserving continuity and past practice in
all material respects, and reflect accurately and correctly the material business events for and the results of operations of the Group Companies for the period to which they relate; 

 

	 	•	 	 in all material aspects correctly represent the assets and liabilities, property, financial and profits situation
of the Group Companies as at the reference date; 

			
		  	
 19

  

	 	•	 	 make proper and sufficient provisions for all established liabilities of the Group Companies and proper and
sufficient provisions for all deferred or contingent liabilities, all as required by the applicable statutory provisions and accounting principles; 

  

	 	•	 	 the Financial Statements do not materially overstate any asset or understate any liability;

  

	 	•	 	 the Financial Statements contain all material liabilities, provisions and reserves that are usual or necessary
and are known or should be known by the Sellers or any Group Company; 

  

	 	•	 	 the notes to the Financial Statements correctly disclose any contingent liability that is required to be
disclosed therein; 

  

	 	•	 	 the Financial Statements do not set-off any asset with any liability nor
any income with any expenses; 

  

	 	•	 	 there has been no dissolution of reserves that is not apparent from the Financial Statements;

  

	 	•	 	 the Group Companies maintain adequate internal control processes; 

 

	 	•	 	 to the best knowledge of each Seller being a member of the management and, to the other Sellers’ Best
Knowledge, no member of the management of a Group Company has identified or made any fraud or material written complaint that involves members of the management of any Group Company who have a role in the preparation of financial statements or
accounting controls. 

  

	 	c)	 The Group Companies have not incurred any liability or obligation other than (i) such as have been
reflected in the Financial Statements or (ii) such as have been incurred in the ordinary course of business consistent with past practice since the Locked Box Date. 

 

	 	d)	 All accounts receivables of the Group Companies have arisen out of bona fide transactions in the ordinary
course of business consistent with past practice and have been accounted for in accordance with the applicable statutory provisions and accounting principles. All accounts receivables are appropriately reserved and, as reserved, are good and, to the
Sellers’ Best Knowledge, collectible in accordance with the applicable statutory provisions and accounting principles. All cash set forth in the Financial Statements is freely available for use by the Group Companies other than cash used in the
ordinary course of business. 

  

	 	e)	 Except as set forth in Annex 7.5e), the Group Companies have no indebtedness, including overdraft
facilities, loans and other credit facilities outstanding against third parties or made available by third parties to any Group Company, and, except for the Lien and other rights granted to the Buyer under the Convertible Loan Agreement, none of the
Group Companies has issued any surety, guarantee or comfort letter in favour of third parties and is neither unconditionally nor conditionally liable for any obligations of third parties. None of the Group Companies has entered into any off-balance sheet arrangements, liabilities or commitments. 

			
		  	
 20

  

	7.6	 Taxes 

  

	 	a)	 The Group Companies have timely filed with the appropriate Tax authorities all Tax Returns, registrations,
refund requests, reports, notices, and other filings in respect of Tax required to be filed prior to the Closing Date. All information provided in such returns, registrations, refund requests, reports, notices, and other filings is to the
Sellers’ Best Knowledge true and complete in accordance with the applicable Laws and all such Tax documents have been prepared in the manner required by applicable Laws and, to the Sellers’ Best Knowledge, are true, correct and complete,
and accurately reflect the liability or credit for Taxes of the respective Group Company. There are no and have not been in the past any Tax audits, investigations, examinations or similar proceedings by any Tax or criminal authorities pending or
threatened in writing. 

  

	 	b)	 All Taxes relating to assessment periods (partially or fully) prior to or on the Closing Date have been paid or
have been fully accrued for in the Financial Statements or otherwise. 

  

	 	c)	 Since the Locked Box Date, liabilities for Taxes have only been accrued in the normal course of business and in
line with past accounting periods. 

  

	 	d)	 The Group Companies have not made open or hidden distributions or provided deliveries or services without
adequate consideration to the Sellers or other Affiliates or to Connected Persons of the Sellers which could result in additional liabilities of a Group Company for Tax or in the non-acceptance of business
expenses. 

  

	 	e)	 The Group Companies have at their disposal all supporting documents in connection with (i) all filed Tax
Returns, registrations, refund requests, reports, notices and other filings, and (ii) all Tax Returns, registrations, refund requests, reports, notices and other filings still to be filed which refer to assessment periods (partially or fully)
before the Closing Date, in each case in form and substance in accordance with all applicable Laws. 

  

	 	f)	 The Group Companies are not a party to any claim, action, investigation or proceeding by any Tax authority, nor
has it received written notice from such authority of any claim, action, investigation or proceeding relating to Taxes, and no Tax Return of a Group Company is currently under Tax audit by any Tax authority and no written notice of any such Tax
audit has been received. 

  

	 	g)	 The Group Companies do not have any outstanding obligations under any settlement agreements entered into with
any Tax authority. There are no Tax rulings in place affecting any Group Company. 

  

	 	h)	 No blocking periods imposed in connection with a tax neutral reorganisation (or similar restrictions) apply
with respect to any Group Company. 

  

	 	i)	 The Group Companies have filed on a timely basis all Tax Returns required to be made and have timely given all
notices, accounts and information required to be given by them. All information provided was, when filed or given, true, complete and accurate in all material respects. There is no outstanding dispute or disagreement between any Group Company and
any Governmental Authority in respect of any Tax matter and there is no pending or threatened in writing audit or investigation relating to any Taxes for which any Group Company may become directly or indirectly liable. 

			
		  	
 21

  

	7.7	 Assets 

Except for the furniture as well as part of the IT equipment used in the offices of the Company in Gundelfingen, all of which are owned by
Seller 1 and Seller 5, the Group Companies have good and valid title to, or with respect to assets held under a lease, rental or other leasing agreement, the valid right to use, all the assets as reflected in the Financial Statements and
necessary for the operation of the Business in the same manner as such operation is presently being conducted. Such assets are free and clear of any Liens, are adequate and fit for the requirements of the Business, are in good operating condition
except for normal wear and tear, have been properly maintained and serviced as necessary, and are used exclusively in connection with the Business. None of such assets is in need of maintenance or repair. Such assets are safe to operate in
accordance with their current practice in their current condition. 
  

	7.8	 Compliance 

  

	 	a)	 The Group Companies and, in relation to the Business, their employees, officers and members of the management
have always carried and are currently carrying on its business in compliance with all applicable Laws that are materially relevant to the Business, the provisions of the articles of association and by-laws,
respectively. In particular, no action, suit or proceeding by any third party or any Governmental Authority is pending, or threatened in writing, against the Company alleging any failure to comply with any applicable Laws that are materially
relevant to the Business, the provisions of the articles of association and by-laws, respectively. 

  

	 	b)	 Neither any Group Company nor (in relation to the Business) any of their employees, officers and members of the
board of directors is or has at any time engaged in any activity, practice or conduct which would constitute an offence under any applicable anti-bribery Laws, anti-corruption Laws or any criminal Laws. There are no proceedings pending in relation
to such anti-bribery Laws, anti-corruption Laws or criminal Laws, and no such proceedings have been threatened in writing or are, to the Sellers’ Best Knowledge, to be expected. 

 

	7.9	 Material Contracts 

  

	 	a)	 Annex 7.9a) lists each of the following contracts and agreements which are still effective and to which
any Group Company is a party at the Signing Date (such contracts and agreements, individually being a “Material Contract” and collectively the “Material Contracts”): 

 

	 	•	 	 all agreements with any supplier or service provider which is likely to involve a consideration of more than
EUR 50,000 per year; 

  

	 	•	 	 all agreements with any customer or distributor which is likely to involve a consideration of more than
EUR 50,000 per year; 

  

	 	•	 	 all agreements with clinical research organizations, clinics, hospitals, sponsors or investigators relating to or
in connection with clinical trials conducted by or on behalf of the Company which are likely to involve a consideration of more than EUR 50,000; 

  

	 	•	 	 all agreements with study sites regarding the conduct of a clinical trial conducted by or on behalf of the
Company which are likely to involve a consideration of more than EUR 50,000; 

			
		  	
 22

  

	 	•	 	 all agreements under which the Company is obliged to reimburse, directly or indirectly, study sites for costs
arising out of or in connection with clinical trials conducted by or on behalf of the Company which are likely to involve a consideration of more than EUR 50,000; 

 

	 	•	 	 all agreements relating to the acquisition or sale of a company or business containing any outstanding obligation
of a Group Company (including in respect to unpaid purchase price); 

  

	 	•	 	 all agreements that limit or purport to limit the ability of any Group Company to compete in any line of business
or with any Person other than a Group Company or the Buyer or in any geographic area or during any period of time; 

  

	 	•	 	 all agreements regarding IP Rights and licensed IP Rights (other than off-the-shelf computer software licenses) other than the IP transfer agreements between the Company and its (former) employees and advisors regarding the transfer of IP Right to the Company;

  

	 	•	 	 all insurance agreements; 

 

	 	•	 	 all confidentiality commitments binding any Group Company; 

 

	 	•	 	 all loan agreements; 

  

	 	•	 	 all agreements containing a change of control clause 

 

	 	•	 	 all agreements between (i) any Group Company on the one hand and (ii) a Seller or any of its Affiliates
or Connected Persons on the other hand; 

  

	 	•	 	 all lease agreements; 

  

	 	•	 	 all guarantees, sureties or comfort letters in favour of third parties; 

 

	 	•	 	 all agreements with a contractual notice period longer than six months; 

 

	 	•	 	 all management and services contracts or similar agreements with third parties providing services to any Group
Company which is likely to involve a consideration of more than EUR 75,000 per year; and 

  

	 	•	 	 all agreements or arrangements entered into by any Group Company outside the ordinary course of business.

  

	 	b)	 The Material Contracts are valid, binding, enforceable in accordance with their terms and are in full force and
effect. 

  

	 	c)	 The Group Companies have in all material respects properly performed all of their obligations arising out of
the Material Contracts, and, as of the date of this Agreement, no written notice of termination has been received or given or been threatened in writing relating to any of the Material Contracts. The counterparties to the Material Contracts have
performed all material obligations arising out of such contracts and, to the Sellers’ Best Knowledge, no grounds for early termination exists. Upon consummation of the transactions contemplated by this Agreement, each Material Contract shall
continue in full force and effect without penalty or other adverse consequence and no counterparty to any Material Contract has the right to terminate the relevant Material Contract or alter its obligations in any material respect as a result of the
transactions contemplated by this Agreement. 

			
		  	
 23

  

	 	d)	 Since the Locked Box Date up to and including the date of this Agreement, none of the Group Companies has been
notified in writing by any material customer or supplier of their intention to terminate or failure to continue their business relationship with any Group Company and no material customer or supplier has terminated its agreement with any Group
Company. Material customers or suppliers for the purposes of this clause shall be the ten largest customers or suppliers of the respective Group Company in terms of volume for the year 2020. There are no claims or other entitlements of the
counterparties to the Material Contracts which are not explicitly reflected in the provisions of the Material Contracts. 

  

	7.10	 Permits and Licenses 

 

	 	a)	 The Group Companies have all material licenses, permits, authorizations, consents and permissions from
Governmental Authorities necessary to own and to operate their assets as currently owned or used by it and/or to conduct the Business as currently conducted, all as listed in Annex 7.10a) (the “Licenses”) and there are no
proceedings to suspend, cancel, revoke or not renew any such License or any part thereof, and no such proceedings have been threatened in writing. 

  

	 	b)	 All Licenses are in full force and effect and, to the Sellers’ Best Knowledge, no circumstances exist
which will result in a material modification, supervision, revocation or non-renewal of Licenses. The transactions contemplated by this Agreement will not result in a default under, or a breach or violation or
the termination of, or adversely affect the rights and benefits afforded to the Group Companies by, any of the Licenses or give any Governmental Authority or third party the right to terminate any of the Licenses. 

 

	 	c)	 The Group Companies are in compliance with the Licenses in all material respects. The Group Companies conduct
and have conducted their Business in compliance with the Licenses. 

  

	7.11	 Clinical Trials 

  

	 	a)	 The Group Companies are currently, in cooperation with third parties, conducting the following clinical trials:
multi centre clinical study “Inhaled Aviptadil for the prevention of COVID-19 related acute respiratory syndrome” (multizentrische klinische Studie “Inhalatives
Aviptadil zur Vorbeugung von COVID-19 assoziiertem akutem Atemwegssyndrom (ARDS)”), together with Kantonsspital Baselland, Liestal, Switzerland (the “Company Clinical Trials”).

  

	 	b)	 No Group Company is, neither directly nor indirectly, involved in any other clinical trials or medical
investigations of any products other than the Company Clinical Trials. 

  

	 	c)	 For each Company Clinical Trial all necessary approvals, authorizations, consents, positive opinions or permits
from Govermental Authorities required to conduct, or have conducted, the Company Clinical Trials (the “CT Approvals”) have been obtained and are valid as of the date of this Agreement. The Company has not made any false or, to
Sellers’ Best Knowledge, misleading statements in any of its applications for CT Approvals and, to Sellers’ Best Knowledge, there are no reasons why any CT Approvals may be revoced or withdrawn. 

			
		  	
 24

  

	 	d)	 The conduct of all Company Clinical Trials has been in compliance with all applicable Laws, guidelines and
regulations applicable to such trials, including GCP and GMP and in accordance with applicable industry standards. 

  

	 	e)	 Except for the patient data, which is the exclusive property of Kantonsspital Baselland, the Company will
obtain and be the unencumbered and unrestricted owner of all data and all results deriving from the Company Clinical Trials, it being understood that the scientific partners of the Company in the Company Clinical Trials (e.g., Kantonsspital
Baselland) shall have the right, based on prior agreement with the Company, to publish and present (in their own name) the results of the Company Clinical Trials in a scientific paper (scientific ownership of data and results).

  

	7.12	 Insurance 

  

	 	a)	 The Group Companies have obtained or have the benefit of insurance coverage as required by Law and sufficient
to conduct the Business as currently conducted. 

  

	 	b)	 The respective insurance contracts (the “Policies”) are all in full force and effect and will
not be terminated, suspended or altered as a consequence of the Closing, and all premium thereunder have been duly paid when due. No notice of termination or cancellation with regard to any of the Policies has been given or received by any Group
Company, and neither any Group Company nor the respective insurance companies have requested or announced (in each case in writing) any amendments to the Policies and, to the Sellers’ Best Knowledge, no such termination, cancellation or request
for amendment is to be expected. 

  

	 	c)	 There is no claim outstanding under any of the Policies (or under any policies previously held by any Group
Company) in excess of EUR 25,000; all claims in excess of EUR 25,000 have been settled in full. Since 31 December 2019, there have been no claims as to which insurance coverage has been denied. 

 

	7.13	 Intellectual Property Rights 

 

	 	a)	 Annex 7.13a) contains a list of all the IP Rights owned or used by the Group Companies and sets forth an
accurate, correct and complete list of the IP Rights subject to any issuance, registration, or application by or with any Governmental Authority or authorized private registrar used in the Business in each case including, (w) the current owner
or registrant, (x) the jurisdiction where the application, registration or issuance is filed, (y) the application, and applicable registration and issue number, and (z) applicable application, registration and issue date. Except where
a co-ownership interest with a third party is indicated on Annex 7.13a), the Company is the sole and exclusive owner of all right, title, and interest in and to all such IP Rights.
All IP Rights used or necessary in connection with the operations of the Group are owned or lawfully used by the respective Group Company. 

  

	 	b)	 The Group Companies have validly acquired all right, title and interest in the IP Rights developed by their
respective employees and/or freelancers or other external contractors which is materially relevant for the Business. 

  

	 	c)	 All IP Rights subject to any issuance, registration, or application by or with any Governmental Authority or
authorized private registrar (i) have not been abandoned or canceled, (ii) have been maintained effective by all requisite filings, renewals and payments to the relevant Governmental Authority, and (iii) remain in full force and
effect. 

			
		  	
 25

  

	 	d)	 Except for the Lien and other rights granted to the Buyer under the Convertible Loan Agreement, no IP Rights
are subject to any Lien, nor to any license granted to a third party (except for the back license under the IP Purchase and Option Agreement with University Freiburg). Except for the public announcement of NeuroRx, Inc. about starting clinical
trials with regard to inhaled Aviptadil, which, eventually, could lead to a possible dispute with the Company, no claims, disputes, opposition or nullity proceedings are pending or threatened in writing challenging the ownership, use or validity of
the IP Rights owned or used by the Group Companies. 

  

	 	e)	 There has been no infringement of any IP Rights owned by any Group Company by any third party, except for a
possible infringement by NeuroRx, Inc. with regard to the use of an inhaled formulation of Aviptadil. None of the Group Companies has been in conflict with, or infringed, any IP Rights of any third party, or been threatened in writing in connection
with any infringement. To the Sellers’ Best Knowledge, there are no material proceedings before any Governmental Authority alleging that any conduct of Group Companies constitutes infringement, misappropriation or other violation of any
intellectual property of any third party. 

  

	 	f)	 All current and former officers and employees of any Group Company who are or have been involved in the
creation or development of IP Rights have executed and delivered to the relevant Group Company an agreement providing for the assignment to the relevant Group Company any IP Rights made in the course of services performed by such officer or
employee. No current or former employee of Group Companies has any right, title, or interest, directly or indirectly, in whole or in part, in any IP Rights of any Group Company. All current and former consultants of any Group Company who are or have
been involved in the creation or development of IP Rights have executed and delivered an agreement assigning to such Group Company any IP Rights made by such consultant in the course of such consultant’s services. No current or former officer,
employee or consultant of any Group Company is in material violation of any term of any such assignment agreement between such person and the relevant Group Company. 

 

	 	g)	 The Group Companies have implemented reasonable and market-standard measures to prevent unlawful use or
disclosure of any trade secrets or other valuable business information of the Group Companies. 

  

	7.14	 IT Systems 

  

	 	a)	 Each Group Company owns, validly leases or uses certain computers, laptops, servers, printers, hubs, network
equipment, phones and any similar technical devices as well as standard software (the “IT Systems”). 

  

	 	b)	 The IT Systems are operating in all material respects as required by the Group Companies in connection with
their operations as currently conducted. 

  

	 	c)	 The IT Systems are adequate and fit for the operational and business requirements of the Group, and adequate back-up and disaster recovery procedures and policies have been implemented and are complied with. There have been no significant disruptions within the last twelve months. 

			
		  	
 26

  

	 	d)	 The IT Systems are regularly maintained and serviced and have received recent software/firmware updates.

  

	 	e)	 The IT Systems are protected with reasonable security measures against unlawful intrusion, damage, trojan
horses, viruses, ransomware or other malware as well as fire or water or similar incidents which may impact the operability of the IT Systems. 

  

	 	f)	 No Group Company has suffered any material outage, disruption or malfunction of its IT Systems or any data loss
or damage. 

  

	7.15	 Data Protection Compliance 

 

	 	a)	 The Group Companies, and the collection, storage, use, disposal, disclosure, transfer and any other processing
of any personal data by or on behalf of the Group Companies are in compliance with applicable data protection Laws, in particular the EU General Data Protection Regulation 2016/679 (GDPR). 

 

	 	b)	 No Group Company is or has been subject to any investigation or proceeding by a competent data protection
supervisory authority nor has any data subject raised a complaint or claim against any Group Company due to an alleged violation of applicable data protection Laws. 

 

	 	c)	 There are no proceedings pending or threatened in writing and no claims or complaints made in writing against
any Group Company by any Governmental Authority or other Person alleging a violation of any data protection Laws or any contractual obligations related to personal data. 

 

	 	d)	 There have been no incidents or data security breaches, unauthorized or illegal access, disclosure or use of
any of the personal data held by or on behalf of any Group Company. 

  

	7.16	 Products 

  

	 	a)	 None of the Group Companies manufactures products. There are no circumstances that might reasonably be expected
to give rise to any claim from any Person relating to any defect in any product sold or used in a Company Clinical Trial (including any component or ingredient for incorporation into other products) or any services rendered by any Group Company.

  

	 	b)	 The products developed, supplied, licensed or sold by any Group Company or used in a Company Clinical Trial,
which would require regulatory approvals, are duly approved and such registrations or approvals are complete, accurate and up-to-date in all material respects.

  

	 	c)	 The products developed, supplied, licensed or sold or used in a Company Clinical Trial by any Group Company are
developed, supplied, licensed or sold in all material respects in accordance with (i) the specifications and standards contained in relevant product registration documentations, (ii) the specifications and standards required by the
customers and (iii) all applicable Laws and regulations, including all safety and compliance requirements. 

			
		  	
 27

  

	 	d)	 The Group Companies have not developed, supplied, licensed or sold or used in a Company Clinical Trial any
products or rendered any services which do not comply with any warranties or representations expressly or implicitly made by a Group Company or which otherwise give rise to any claim by any customer or any third party or Person in respect thereof,
in each case other than warranty cases in the ordinary course of business. 

  

	 	e)	 None of the Group Companies has received any unresolved claim in writing by any customer or any third party in
respect of breach of express or implied warranties or representations, which would cause any cost or compensation owed by any Group Company to resolve such claims. 

 

	 	f)	 There are no actions pending or threatened in writing or product recalls relating to any product developed,
supplied, sold, licensed or services rendered by or on behalf of any Group Company. 

  

	7.17	 Conduct of Business since the Locked Box Date 

 

	 	a)	 Since the Locked Box Date, (i) the Group Companies have carried out the Business as a going concern, in
the ordinary course, at arm’s length terms and consistent with past practice and have carried out investments in line with approved budgets and business plans and (ii) there has not been any event, circumstance or condition that had or to
the Sellers’ Best Knowledge is likely to have a Material Adverse Effect on any Group Company. 

 Without limiting the
generality of the foregoing, since the Locked Box Date, none of the Group Companies has performed any of the following actions: 
  

	 	b)	 Entering into any unusual agreements, arrangements or commitments which materially departed from their ordinary
course of business; 

  

	 	c)	 any action which could materially interfere with the consummation of the transaction contemplated under this
Agreement; 

  

	 	d)	 declaring, paying or making any dividend or other distribution, whether express, constructive or hidden;

  

	 	e)	 making any change in the terms of employment of any of its directors, officers or employees;

  

	 	f)	 changing, entering into or terminating any collective bargaining agreements with trade unions or works councils
or generally change the working conditions of any employee of any Group Company; 

  

	 	g)	 providing a notice of termination by any Group Company to any employee; 

 

	 	h)	 except for the forming of the Swiss Subsidiary and potentially a subsidiary in Austria, forming, entering into,
changing, terminating or withdrawing from any partnership, consortium, joint venture or similar business organization; 

  

	 	i)	 making amendments to its articles of incorporation or organizational regulations; 

 

	 	j)	 transferring any of its assets (other than cash or cash equivalents) with a value exceeding EUR 25,000 in an
individual case and EUR 50,000 in total to any third party; 

			
		  	
 28

  

	 	k)	 except for the conversion right granted to the Buyer under the Convertible Loan Agreement, increasing, reducing
or otherwise changing its share capital, or grant any option or conversion rights on the equity of any Group Company; 

  

	 	l)	 except for the loan in the amount of CHF 500,000 granted to the Swiss Subsidiary, granting, increasing or
extending any loan to any third party; 

  

	 	m)	 except for the creation of a Lien and other rights granted to the Buyer under the Convertible Loan Agreement,
granting, creating or allowing the creation of any Lien over any of its assets other than liens arising by operation of law; 

  

	 	n)	 accepting any subsidies or grants or repaying (in full or partially) any subsidies or grants;

  

	 	o)	 granting any licenses relating to any of its IP Rights; 

 

	 	p)	 except for the loan borrowed from the Buyer under the Convertible Loan Agreement, borrowing any money from any
third party; 

  

	 	q)	 entering into any guarantee, indemnity or surety other than in the ordinary course of business (such as
agreements with customers or suppliers); 

  

	 	r)	 materially changing its accounting procedures, principles or practice in effect at the date of this Agreement;
and 

  

	 	s)	 agreeing upon, or committing to, any of the foregoing. 

 

	7.18	 Employment Matters 

  

	 	a)	 Annex 7.18a) contains a true and complete list of all employees and freelancers of the Group Companies
as at the date of this Agreement, including employment status (employee, freelancer or other) date of birth, title, the technical entry/commencement date, scope of employment (full time or part-time), notice period, annual base salary (including
benefits in kind) and variable compensation (or hourly or other remuneration, as applicable), other benefits with monetary value, accrued overtime work and accrued vacation. 

 

	 	b)	 There are no employment or freelancer contracts or other obligations of any Group Company which
(i) entitle any Person to an annual gross compensation of more than EUR 120,000 (including variable components), or (ii) can only be terminated with a notice period of more than three months, each unless otherwise disclosed in
Annex 7.18a). 

  

	 	c)	 No material salary increases have been resolved but not yet implemented. There are no employment, freelancer or
benefit agreements or plans entitling an employee or freelancer to severance or other payments due upon the consummation of the transactions contemplated under this Agreement other than disclosed in Annex 7.18c). As at the date of this
Agreement, none of the employees has given or received notice of termination or has indicated an intention in writing (including for purposes of this subsection by plain email) to terminate its employment. 

 

	 	d)	 There are no bonus, profit sharing schemes, share option schemes, share incentive schemes, distribution
participation schemes or any other scheme or commitment, whether of an individual or collective nature, in existence under which any employee or freelancer of any Group Company is entitled to participate in the equity, profits, turnover or other
business performance of any Group Company Agreement other than disclosed in Annex 7.18c). None of the employees or freelancers have any outstanding claims for any bonus payments, incentive payments, distribution participations or similar
payments against any Group Company. 

			
		  	
 29

  

	 	e)	 None of the Group Companies is a party to or otherwise bound by collective bargaining agreements or other
agreements with labour unions or similar organisations, and there are no orders of general applicability which have an effect on any Group Company. All freelancers that have worked or are currently working for any Group Company have been and are
recognised as self-employed persons by the competent Governmental Authorities, and no Group Company will have any liabilities with respect to employment and/or social security Laws in connection with hiring or engaging freelancers.

  

	 	f)	 The Group Companies have been at all times, and are, in compliance with all applicable Laws and contractual
obligations (including payment obligations) regarding the employees and freelancers, and no respective proceedings, claims or investigations are pending or threatened in writing. None of the employees or freelancers has ever claimed any right in any
of the IP Rights of any Group Company. 

  

	 	g)	 There is no dispute between any Group Company and any of their current or former employees, directors or
freelancers pending or threatened in writing, and the Group Companies are not involved in any pending litigation with any of the relevant trade unions, works councils and employee representative bodies and there is no strike, slowdown or stoppage
actually pending or threatened to occur against any Group Company. There are no work councils or other employees’ representations in any Group Company. 

  

	7.19	 Social Security and Pensions 

 

	 	a)	 All persons who have to be registered by any Group Company as employees with social security and pension
institutions are registered accordingly. 

  

	 	b)	 The Group Companies’ respective pension payments to their employees in accordance with applicable Law are
insured with the German statutory pension insurance, i.e. the Group Companies have no own pension institutions. 

  

	 	c)	 All contributions required to be made under (i) any pension or social security Laws or (ii) the terms
of any pension scheme, pension plan, benefit plan or similar health and welfare commitments of any Group Company (the items under (ii) collectively the “Benefit Plans”) due by any Group Company for their employees for any
period ending before the Closing Date have been timely made or have been adequately provisioned for in the books and accounts of the Group Companies. The Benefit Plans have no claims against any Group Company other than for the current ordinary
contributions. Other than the payment of the current ordinary contributions under the Benefit Plans, the Group Companies do not provide or contribute to, and are not liable to provide or contribute to, the provision of benefits for or in respect of
any of their current or former directors, officers or employees or their dependents. 

			
		  	
 30

  

	 	d)	 There are no Benefit Plans of any Group Company other than those Fairly Disclosed in the Disclosed Information.

  

	 	e)	 The Group Companies are in compliance with all applicable Laws relating to social security, pension and worker
compensation. 

  

	7.20	 Real Estate 

  

	 	a)	 The Group Companies do not own and have never owned any real estate. All lease agreements for the business
premises used by any Group Company are in full force and effect, and no notice of termination has been received or given by any Group Company or been threatened in writing by or
vis-à-vis any Group Company with regard to any of these lease agreements, and no disputes are pending which could result in termination of any of these lease
agreements. No written notice by any party to any lease agreement of any Group Company has been given with respect to any material breach or material default of any Group Company under such lease agreement. 

 

	 	b)	 The Group Companies have free access to all the real estate currently leased or used, as required to conduct
the Business, other than as restricted by the applicable lease agreement or as set forth in the relevant land registry. 

  

	7.21	 M&A Transactions 

The Group Companies have not entered into any purchase agreement to acquire all or part of the shares in, or assets and liabilities from, other
companies or private individuals. 
  

	7.22	 Corporate Books 

All books, accounts, registers and records, as well as all related supporting documents, required by Law to be maintained and stored by the
Group Companies (the “Books”) are up to date, correct and complete and have been, kept, maintained and stored in accordance with applicable Law, and, if stored in electronic form, can be made readable again at any time. No written
notice or written allegation that any of them is incorrect or should be rectified has been received by any Group Company. All the Books are in the possession of the respective Group Company. 

 

	7.23	 No Broker’s Fees 

None of the Group Companies (i) does have any obligation to pay a broker’s, finder’s or transaction fee or commission in
connection with the transactions contemplated by this Agreement, or (ii) is liable to pay to any of their respective board members or advisors any sum, fee or commission or grant any right in connection with the transactions contemplated by
this Agreement. 
  

	7.24	 Certain Payments 

Neither the Group Companies nor any director, officer, agent, or employee of any Group Company, or any other Person legitimately acting for or
on behalf of any Group Company, has directly or indirectly (a) made any contribution, gift, bribe, payoff, influence payment, or kickback to any Person in violation of any applicable Laws, or (b) established or maintained any fund or asset
that has not been recorded in the Books. 

			
		  	
 31

  

	7.25	 Affiliates and Connected Persons 

 

	 	a)	 All agreements of the Group Companies with any of the Sellers, Affiliates or Connected Persons of the Sellers
have been made within the usual course of business and at arm’s length terms. 

  

	 	b)	 As of the Closing Date, (i) except for the certain employment and consultancy agreements between the Group
Companies and the Sellers, there are no agreements in force between the Sellers, any of their Affiliates or any Connected Person of the Sellers on the one hand and any Group Company on the other hand and (ii) except for the claims arising out
of the certain employment and consultancy agreements between the Group Companies and the Sellers, none of the Sellers, any of its Affiliates or any Connected Person of the Sellers has any claims against any Group Company. 

 

	 	c)	 All guarantees or other security granted or established by (i) any Group Company for any obligation of the
Sellers, any of its Affiliates or any Connected Person of the Sellers, or (ii) the Sellers, any of its Affiliates or any Connected Person of the Sellers for any obligation of any Group Company, have been fully und conditionally released and
terminated prior to the date hereof. 

  

	7.26	 Full Disclosure 

All information provided to the Buyer and/or its advisors is true, and, to the Sellers’ Best Knowledge, complete and not misleading and
provides a fair picture of the business and financial situation of the Group Companies. 
 All facts and circumstances relevant for
Buyer’s assessment of the Group Companies and their financial situation, the Business and their prospects have been Fairly Disclosed in the Disclosed Information. 
  

	7.27	 No Breach of Warranty 

Each Seller warrants and confirms that as of the date hereof it has no knowledge of (i) any breach of any representation or warranty of
the Buyer under this Agreement and (ii) any facts which could give otherwise rise to a claim of the Sellers under this Agreement. 
  

	8.	 REPRESENTATIONS AND WARRANTIES OF THE BUYER 

The Buyer represents and warrants with effect as of the Signing Date and as of the Closing Date the following: 

 

	8.1	 Incorporation and Authority 

 

	 	a)	 The Buyer is a limited liability company validly incorporated, duly organized and lawfully existing in
accordance with the laws of Switzerland having its registered domicile in Geneva, Switzerland, and is neither in liquidation nor in composition proceedings or in any other similar procedure. The Buyer has full corporate power and authority to enter
into this Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby. There are no actions, suits or proceedings pending against the Buyer before any court or administrative authority, agency or
commission which involve a claim by a governmental or regulatory authority, or by a third party, which would operate to hinder or substantially impair the consummation of the transactions contemplated by this Agreement. The Buyer has no knowledge of
any actions, suits or proceedings in accordance with the preceding sentence which have been threatened in writing to be filed or instituted against the Buyer or against any Affiliate of the Buyer. 

			
		  	
 32

  

	 	b)	 The Buyer has the absolute and unrestricted right, power, authority and capacity and it has taken all actions
and obtained all consents and approvals (including from corporate bodies, spouses and authorities, or otherwise) necessary to execute, and perform its obligations under this Agreement. 

 

	8.2	 Effect of Execution of Agreement 

This Agreement has been duly executed and delivered by the Buyer, and constitutes legal, valid and binding obligations of the Buyer enforceable
against the Buyer in accordance with its terms. The execution and delivery of this Agreement by the Buyer does not, and the consummation of the transactions contemplated hereby by the Buyer will not violate any agreement to which the Buyer is a
party. 
  

	8.3	 Consent 

The Buyer has the absolute and unrestricted right, power, authority and capacity and it has taken all actions and obtained all consents and
approvals (including from corporate bodies, and authorities, or otherwise) necessary to execute, and perform its obligations under this Agreement. 
  

	8.4	 Payment Shares 

  

	 	a)	 The Buyer represents that the Payment Shares are free and clear of any Lien and rights of third parties of any
nature (including options, voting obligations or restrictions or other rights of whatever nature restricting the ownership, the disposability or the voting rights), and the Buyer is under no obligation to grant or create any such Liens or third
party rights. 

  

	 	b)	 The Buyer represents that, on the Closing Date, it assigns and transfers full legal and beneficial ownership of
the Payment Shares constituting the Closing Payment to the Sellers, free and clear from any Liens and third party rights, and the Sellers will be the sole and unrestricted owners of such Payment Shares. 

 

	 	c)	 The Buyer represents that there is no litigation, arbitration, prosecution, administrative or other legal
proceedings or dispute in existence or threatened against it in respect of the Payment Shares or its entitlement to dispose of the Payment Shares. 

  

	 	d)	 The Buyer has the right and power to transfer to the Sellers the unencumbered and unrestricted ownership in the
Payment Shares. 

  

	 	e)	 The Payment Shares are validly issued, fully paid-in to their nominal value and free of obligations to make
additional capital payments, and the Payment Shares have not been repaid in whole or in part. 

  

	 	f)	 The Buyer warrants that, except for any matters or transactions (i) publicly announced by the Buyer until
Closing, (ii) resolved by the Buyer’s shareholders’ meeting in accordance with applicable Law until Closing, or (iii) resolved by the Buyer’s board of directors treating the Sellers equally with the other Buyer’s
shareholders (Art. 717 para. 2 CO) and any third party investing in the Buyer, there are no resolutions pending and, for a period of two months following the Closing, there will be no resolutions to (a) increase the ordinary, authorized or
conditional share capital of the Company or (b) issue shares of the Buyer and there are no options (other than under the Buyer’s existing employee stock option plans), conversion rights or other commitments outstanding under which the
Buyer is required to issue shares or other equity securities. All the Buyer Shares have been duly issued and are fully paid-in up to their nominal value. 

			
		  	
 33

  

	 	g)	 As of the Closing Date, except for any matters or transactions publicly announced by the Buyer until Closing,
there are no further shares, non-voting stock, other equity participation rights or options (other than under the Buyer’s existing employee stock option plans), convertible instruments or warrants with
regard to the Buyer, or entitlements for the obtaining of such instruments or rights, or agreements which could result in the creation of such entitlements, or any other agreements of any character relating to the sale, issuance or voting of, or the
granting of rights to acquire, any of the shares in the Buyer. 

  

	8.5	 No Breach of Warranty 

The Buyer warrants and confirms that as of the date hereof it has no knowledge of (i) any breach of any representation or warranty of the
Sellers under this Agreement and (ii) any facts which could give otherwise rise to a claim of the Buyer under this Agreement. 
  

	9.	 EXCLUSIVE REPRESENTATIONS AND WARRANTIES 

Each Party acknowledges that, other than as expressly provided in this Agreement, the other Parties have not made, and do not make, and have
not relied and do not rely on, any other representations and warranties, express or implied, relating to the subject matter of this Agreement. 
  

	10.	 REMEDIES OF BUYER FOR BREACH OF REPRESENTATIONS AND WARRANTIES 

 

	10.1	 Sellers’ Right to Cure and Sellers’ Liability 

If and to the extent a misrepresentation or breach of a warranty under this Agreement notified by the Buyer to the Sellers pursuant to
Section 10.2 is not cured within 45 Business Days following receipt of the respective Notice of Breach, the Sellers shall be liable in proportion to their respective direct or indirect shareholdings in the Company, and not jointly (nicht
solidarisch), to the Buyer or, at the Buyer’s discretion, the Company, irrespective of any fault of the Sellers (verschuldensunabhängig), for any direct damage, cost and expense (together the “Damage”) suffered
and/or incurred by the Buyer and the Group Companies as a result of or connected with a misrepresentation and/or breach of warranty by any Seller. 
  

	10.2	 Notice of Breach 

In case of (i) a misrepresentation or breach of a warranty set forth in Section 7, (ii) the occurrence of an event leading to an
indemnity pursuant to Section 11 or (iii) any other breach of this Agreement by the Sellers, the Buyer shall deliver to the Sellers a notice in writing (the “Notice of Breach”), within 30 Business Days after having
obtained sufficient knowledge of such misrepresentation or breach of a warranty informing the Sellers about the misrepresentation or breach including a reasonable description of the misrepresentation or breach to the extent then known. 

			
		  	
 34

  

 Failure to deliver a Notice of Breach within the time period set forth above shall not
exclude Sellers’ liability, provided, however, that the Sellers shall not be liable for any Damage caused or aggravated by the Buyer’s failure to give timely notice within the time period pursuant to this Section 10.2. 

The regime provided for in this Section 10.2 shall be in lieu of, not in addition to, Buyer’s duty to immediately inspect and notify
the Sellers in accordance with Art. 201 CO. Art. 201 CO shall not apply. 
  

	10.3	 Term 

Claims by the Buyer against the Sellers for misrepresentation or breach of warranty shall be time-barred (verjährt): 

 

	 	a)	 unless otherwise set forth in this Section 10.3, 12 months after the Closing Date; 

 

	 	b)	 with regard to representations and warranties in Sections 7.6 (Taxes) and 7.19 (Social Security and Pensions),
six months after the expiry of the statute of limitation of the relevant tax assessment; and 

  

	 	c)	 with regard to the representations and warranties in Sections 7.1 (Incorporation and Authority), 7.2 (Shares)
and 7.3 (Incorporation and Qualification), five years after the Closing Date. 

 Art. 210 para. 1 CO shall not
apply. 
  

	10.4	 Third Party Claims 

  

	 	a)	 Upon the Buyer or, following Closing, a Group Company becoming aware of a claim or other notification brought
forward or threatened by any third party or Governmental Authority against the Buyer or any Group Company, which is reasonably likely to qualify as a claim of the Buyer against the Sellers for misrepresentation or breach of warranty (each a
“Third Party Claim”), the Buyer shall, or, as the case may be, shall procure that a Group Company shall give written notice to the Sellers in accordance with Section 10.2. 

 

	 	b)	 In the case of any Third Party Claim, the Buyer shall be entitled to oppose, or to cause any one of the Group
Companies to oppose, such Third Party Claim, and the Sellers shall use their commercially reasonable efforts to assist the Buyer or the Group Companies in defending such claim. Subject to the provisions of this Agreement, the Sellers shall bear all
reasonable attorney’s fees incurred by the Buyer and the Group Companies in defending such claims to the extent such fees cannot be recovered from the relevant third party. The Buyer shall not (i) take any action which has any adverse
effect on any insurance policy under which any such Third Party Claim would be recoverable if such action had not been taken and (ii) make any admission of liability, agreement, settlement or compromise with any third party in relation to any
such claim or adjudication, without obtaining the prior written consent of the Sellers (such consent not to be unreasonably withheld or delayed). 

  

	 	c)	 Alternatively, the Buyer may request the Sellers to assume the defence of such Third Party Claim and any
litigation or proceedings resulting therefrom; and, (ii) the Sellers may elect to assume the defence of such Third Party Claim and any such litigation or proceeding with the consent of the Buyer which shall not be unreasonably withheld,
provided that, (y) the Sellers acknowledge in writing their obligation to fully indemnify and hold the Buyer harmless from and against any and all losses suffered or incurred by the Buyer as result of, or arising from or based upon such Third
Party Claim, and (z) in the Buyer’s reasonable determination, the defence of such Third Party Claim by the Sellers would not reasonably be expected to impair the ability of the Buyer to conduct its business or the Business nor its
reputation. 

			
		  	
 35

  

	 	d)	 The Buyer may, at any time, require the Sellers to agree to consent to the settlement of any Third Party Claim
made against the Buyer or the Company if the Buyer shall have unconditionally waived its right to receive compensation for Damages from the Sellers under this Agreement. 

 

	 	e)	 In the case of a Third Party Claim, the Buyer shall grant the Sellers and their advisors reasonable access to
the personnel of the Buyer and the Group Companies, and to any relevant properties, premises, accounts, documents and records, and allow the Sellers and their advisors to reasonably take copies thereof, in order to enable the Sellers and their
advisors to examine the grounds for such Third Party Claim, if the Sellers assume the defence of a Third Party Claim in accordance with Section 10.4c), to defend against such Third Party Claim and to conduct any litigation resulting therefrom;
and at the Buyer’s request and at the Buyer’s cost and expense, allow the Buyer to participate in and give advice to any negotiation, dispute or litigation relating to such Third Party Claim. If the Sellers assume the defence of a Third
Party Claim in accordance with Section 10.4c), the Sellers shall handle any negotiation, dispute or litigation relating thereto with any third party and the Buyer or a Group Company shall grant the Sellers and their advisors all authorisations
and all assistance as the Sellers and their advisors may reasonably require to enable the Sellers and their advisors to defend against the claim and to properly conduct any litigation resulting therefrom. 

 

	 	f)	 The Party conducting the negotiation, dispute or litigation in respect of any Third Party Claim pursuant to
Section 10.4a) shall ensure that the Sellers or the Buyer, as the case may be, will be informed without undue delay of the developments of the matter, and shall be provided with copies of any correspondence or documentation material to the
negotiation, dispute or litigation, provided always that such disclosure is possible without reasonably jeopardizing the outcome of such negotiation, dispute or litigation, or legal privilege in relation thereto. 

 

	10.5	 Reduction of Liability 

The liability of the Sellers for a misrepresentation or breach of warranty shall be excluded or reduced, as the case may be, if and to the
extent that: 
  

	 	a)	 the relevant damage was or reasonably could have been recovered from a third party including any Governmental
Authority, by the Buyer or, following Closing, any Group Company under any title whatsoever, in particular under the terms of any of the Policies, after deduction of all duly documented reasonable costs and expenses incurred in making such recovery
(including reasonable attorney’s fees and increased insurance premiums); 

  

	 	b)	 the Buyer, or after Closing, any Group Company failed to mitigate the Damage in accordance with mandatory Swiss
law; 

			
		  	
 36

  

	 	c)	 adequate provisions have been made in the Financial Statements for the matter that is the subject of the claim;

  

	 	d)	 any Tax payable by any Group Company is actually reduced within 18 months as from the Closing Date as a result
of a matter giving rise to a claim of the Buyer; or 

  

	 	e)	 the facts or circumstances to which the claim relates have been Fairly Disclosed in the Disclosed Information.
Art. 200 CO is hereby explicitly waived by the Parties. With regard to any breaches of Sections 7.1 (Incorporation and Authority), 7.2 (Shares) and 7.3 (Incorporation and Qualification), this Section 10.5e) shall not apply.

  

	10.6	 Limitation of Liability 

 

	 	a)	 No liability shall attach to the Sellers under or in connection with a misrepresentation or breach of warranty
under this Agreement (i) where the individual claim does not exceed EUR 25,000 (the “De Minimis Amount”) and (ii) where the aggregate amount of claims (excluding claims which do not exceed the De Minimis Amount in the
individual case) does not exceed EUR 250,000 (the “Threshold”). If the liability of the Sellers under or in connection with a misrepresentation or breach of warranty under this Agreement exceeds the Threshold, the Buyer shall
be entitled to claim the total amount and not only the amount in excess of the Threshold. 

  

	 	b)	 The total aggregate liability of the Sellers under or in connection with a misrepresentation or breach of
warranty under this Agreement shall be limited to EUR 2,500,000 (the “Cap”). 

  

	 	c)	 Any limitation of liability under Sections 10.6a) and 10.6b) shall not apply to the Sellers’
representations and warranties contained in Sections 7.1 (Incorporation and Authority), 7.2 (Shares) and 7.3 (Incorporation and Qualification), provided, however, that the total aggregate liability of the Sellers related thereto shall be limited to
the lower of (i) the value of the total amount of Buyer Shares received by the Sellers from the Buyer at Closing (determined based on the closing price of the Buyer Shares on the Trading Day immediately preceding the discharge of the liability
of the Sellers due to a breach of Sections 7.1, 7.2 or 7.3) or (ii) EUR 25,000,000 plus the amount of Milestones paid to the Sellers at the time of the discharge of the the liability of the Sellers due to a breach of
Sections 7.1, 7.2 or 7.3, but in no event less than the amount of the Cap. 

  

	10.7	 Remedies of the Sellers 

The provisions of Sections 10.1 through 10.6 apply mutatis mutandis to claims of the Sellers because of misrepresentations or
breaches of warranty by the Buyer. 

			
		  	
 37

  

	11.	 SPECIFIC INDEMNITIES 

 

	11.1	 General 

The Sellers’ obligations set forth in Section 11 constitute non-accessory guarantees of the
Sellers in the sense of art. 111 CO and are valid and enforceable irrespective of (i) any fault of the Sellers (verschuldensunabhängig), and, with respect to Section 11.3 only, (ii) any disclosure in this Agreement,
the Disclosed Information or disclosed otherwise or any actual or constructive knowledge of the Buyer. Other than as set forth in this Section 11, no limitations of the Sellers’ liabilities under this Agreement (including in
Section 10) shall apply to any claims the Buyer may have under or in connection with Section 11; provided that the total aggregate liability of the Sellers under this Section 11 shall not exceed the lower of (i) the value of the
total amount of Buyer Shares received by the Sellers from the Buyer at Closing (determined based on the closing price of the Buyer Shares on the Trading Day immediately preceding the discharge of the liability of the Sellers under this
Section 11) or (ii) EUR 25,000,000 plus the amount of Milestones paid to the Sellers at the time of the discharge of the liability of the Sellers due to a breach of this Section 11, but in no event less than the amount of the
Cap. 
  

	11.2	 Taxes 

The Sellers shall indemnify the Buyer or, on Buyer’s request, the Group Companies in respect of any Taxes (payable by any Group Company
before or after the Closing Date) relating to assessment periods (partially or fully) prior to or on the Closing Date or resulting from events prior to or on the Closing Date, to the extent (i) such Taxes have not been paid and (ii) no
provisions (Rückstellungen) were made for such Taxes in the Financial Statements. Such claims shall be time-barred (verjährt) six months after the expiry of the statute of limitation of the relevant tax assessment. 

 

	11.3	 Other specific indemnities 

The Sellers shall indemnify and hold harmless the Buyer and the Group Companies from and against any claims, liabilities, Taxes, damages,
losses, fees, costs and expense (including, for the avoidance of doubt, reasonable attorneys’ and other professional advisors’ fees) imposed on, sustained, incurred, or suffered by the Buyer or any Group Company arising out of, resulting
from or in connection with: [***] 
  

	12.	 OTHER COVENANTS 

 

	12.1	 Confidentiality 

Each Party shall keep all documents and information regarding the other Parties and the Group Companies that have been provided by such Party
in view of entering into this Agreement strictly confidential from any other Person and shall use best efforts to ensure compliance by its representatives or advisors unless (i) there is a judicial or administrative procedure (including in
connection with obtaining the necessary governmental approvals for the transaction provided for in this Agreement, if any) or another legal requirement compelling disclosure or (ii) disclosed in an action or proceeding brought by a Party in
pursuit of its rights or in the exercise of its remedies hereunder. Excempt are documents and information: 
  

	 	a)	 previously already known by the receiving Party; 

 

	 	b)	 already in the public domain without fault of the receiving Party; or 

 

	 	c)	 later obtained by the receiving Party from another source; provided the receiving Party is not aware that this
other source is also under an obligation to the other Party to keep such documents and information confidential; 

			
		  	
 38

  

 provided, however, that following the Closing the foregoing restrictions shall not apply to
the Buyer’s use of documents and information concerning any Group Company. 
 Notwithstanding the foregoing, the Buyer shall be
authorized to disclose any information regarding the transactions contemplated by this Agreement and regarding the Group Companies and the Business to its advisors, investors and financing providers. 

From the Closing, the Sellers shall keep strictly confidential and shall procure that any Affiliates and or Connected Persons of the Sellers
keep strictly confidential any confidential information and business secrets concerning any Group Company and the Business and shall refrain, and shall cause their Affiliates and Connected Persons to refrain, from using such confidential information
and business secrets for its or their own benefit and for the benefit of another Person. 
  

	12.2	 Public Announcements 

As from the date of this Agreement, all public announcements or press releases concerning this Agreement shall only be issued after the Sellers
and the Buyer have agreed on the contents and timing of such public announcement or press release, save for any public announcement or press release required by applicable Law or any Governmental Authority (including any securities exchange). 

Simultaneously with any public announcement, the employees of the Group Companies shall be informed by the Sellers in an appropriate manner
about this Agreement. 
  

	12.3	 Non-Competition and
Non-Solicitation by the Sellers 

 Each Seller undertakes not to, directly or
indirectly, and procures that none of its Affiliates and Connected Persons will, for the period of one year (three years for Dr. Dorian Bevec) after the Closing, either on its or their own account or in conjunction with or on behalf of any
other Person: 
  

	 	a)	 carry on or be engaged in, concerned with or interested in, whether as shareholder (other than as a shareholder
in a company traded on an internationally recognized stock exchange carrying on such a business where the shareholding is for investment purposes only and amounts to not more than 5% of the issued and outstanding equity interests of such company),
partner, board member agent, advisor, employee or otherwise, any business which competes with the Business of any Group Company as of the date of this agreement; 

 

	 	b)	 actively solicit or entice away any employee, exclusively bound agent or consultant of any Group Company or
otherwise encourage such Person to leave any Group Company; and/or 

  

	 	c)	 induce any partner or customer of any Group Company to cease or reduce doing business with any Group Company.

 In the event of a breach of any covenant set forth in this Section 12.3, and if the respective Seller has not cured
such breach, if cured to the reasonable satisfaction of the Buyer, in its entirety within 20 Business Days following the receipt by the respective Seller of the Buyer’s written notification of such breach, the respective Seller shall pay a
contractual penalty to the Buyer in the amount of EUR 50,000 per breach. In case of a continuous breach, an additional contractual penalty of EUR 50,000 shall become due after each week of duration of such breach (whereby the amount shall
be payable pro rata in case of a breach lasting less than a full week), whereby, in any event, the penalty shall not exceed EUR 250,000. The payment of the contractual penalty or any damages shall not discharge the Sellers from continued
compliance with the covenants set forth in this Section 12.3. In addition, the Buyer has the right to seek specific performance of the Sellers’ obligations under this Section 12.3 and to seek the payment of damages from the Sellers
for any damage or loss suffered by the Buyer or any Affiliate of the Buyer (including, without limitation, the Group Companies). 

			
		  	
 39

  

	13.	 MISCELLANEOUS 

 

	13.1	 Costs and Transfer Taxes 

Except as otherwise set forth in this Agreement, each Party shall bear its own costs, Taxes and expenses arising out of or incurred in
connection with this Agreement and all transactions contemplated hereby. The notarial fees shall be borne by the Sellers on the one hand and the Buyer on the other hand in equal parts. 

 

	13.2	 Sellers’ Representative 

 

	 	a)	 By virtue of their execution of this Agreement, the Sellers designate and appoint Seller 1 (the
“Sellers’ Representative”) as their authorized representative and general attorney-in-fact under this Agreement, with the right of substitution and
multiple representation, to exercise any rights and to give and receive notices and communications on behalf of the Sellers under this Agreement. Notices or communications to or from the Sellers’ Representative constitute notice to or from the
Sellers for all purposes under this Agreement. 

  

	 	b)	 In the event of any inability to act of the Sellers’ Representative, a successor Sellers’
Representative will be appointed promptly by the Sellers, and the Sellers will so notify the Buyer. Each successor Sellers’ Representative has all of the power, authority and rights conferred by this Agreement upon the original Sellers’
Representative. 

  

	 	c)	 A decision, act, consent or instruction of the Sellers’ Representative constitutes a decision, act,
consent or instruction of the Sellers and is final, binding and conclusive upon the Sellers, and the Buyer may rely upon any such decision, act, consent or instruction of the Sellers’ Representative as being the decision, act, consent or
instruction of the Sellers. 

  

	13.3	 Notices 

All notices and other communications to be given by any Party under this Agreement shall be made in writing and shall be delivered by
(i) registered mail (return receipt requested), (ii) an internationally recognized courier, or (iii) by email, to the following addresses: 

If to the Sellers, to the Sellers’ Representative: 

Wolfgang Peter Hoppe 
 Zum Roten
Stein 8 
 D-79108 Freiburg im Breisgau 

Germany 
 Email:
wolfgang.p.hoppe@hotmail.de 

			
		  	
 40

  

 With a copy to (which shall not constitute notice): 

Marc A. Kessemeier 
 An der
Rothhalde 9/1 
 D-79312 Emmendingen 

Germany 
 Email:
mak@kessemeier.com 
 and: 

Kellerhals Carrard Basel KlG 

attn: Dr. Emanuel Dettwiler 

Henric Petri-Strasse 35 
 P.O.Box
257 
 CH-4010 Basel 

Switzerland 
 Email:
emanuel.dettwiler@kellerhals-carrard.ch 
 If to the Buyer: 

RELIEF THERAPEUTICS Holding SA 

attn: Jack Weinstein, CFO and Treasurer 

avenue de Sécheron 15 
 CH-1202 Geneva 
 Switzerland 

Email: jack.weinstein@relieftherapeutics.com 

With a copy to (which shall not constitute notice): 

VISCHER AG 
 attn: Dr. Robert
Bernet 
 Schützengasse 1 

P.O.Box 
 CH-8021 Zurich 
 Switzerland 

Email: rbernet@vischer.com 
 or
such other address as any Party may notify to the other Parties in accordance with the above. 
 Any notice or communication shall be deemed
to have been delivered on the Business Day on which it has been received (by registered mail, email or courier) by the recipient thereof. 
  

	13.4	 Waiver 

The failure of any of the Parties to enforce any of the provisions of this Agreement or any rights with respect thereto shall (i) in no
way be considered as a waiver of such provisions or rights and (ii) not in any way affect the validity of this Agreement. The waiver of any breach of agreement by any Party shall not operate to be construed as a waiver of any other prior or
subsequent breach. 

			
		  	
 41

  

	13.5	 Entire Agreement 

This Agreement together with its Annexes constitutes the entire agreement between the Parties with respect to the subject matter hereof and
supersedes all other prior written and oral agreements between the Parties relating thereto, in particular, the Binding Term Sheet. 
  

	13.6	 Severability 

If any provision of this Agreement is held to be invalid or unenforceable for any rea-son it shall be
revised rather than rendered void, if possible, in order to achieve the intent of the Parties to this Agreement to the fullest extent possible. In any event, all other provisions of this Agreement shall be deemed valid and enforceable to the fullest
extent possible. The same shall apply in case of a gap. 
  

	13.7	 Amendment 

This Agreement (including this Section 13.7) may be amended only (a) prior to Closing by way of a notarial deed in front of a German
notary or (b) after Closing in writing through a document duly signed by each Party. 
  

	13.8	 Assignment 

No Party hereto shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other Parties,
provided, however, that the Buyer may assign this Agreement or any rights or obligations hereunder to any of its Affiliates. 
  

	13.9	 Governing Law 

This Agreement shall be governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of law
principles and international treaties excluding the conflict of law rules and excluding treaties or international conventions such as the UN-Convention on Contracts for the International Sale of Goods dated
11 April 1980. 
  

	13.10	 Jurisdiction 

Any dispute, controversy or claim arising out of or in relation to this Agreement, including the validity, invalidity, breach or termination
thereof, shall be submitted to the exclusive jurisdiction of the ordinary courts of Zurich 1, Switzerland. 
 [Remainder of the
page left intentionally blank. Signature pages follow.] 

			
		  	
 42

  

	
	The Seller 1: Wolfgang Peter Hoppe
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Wolfgang Peter Hoppe

	Wolfgang Peter Hoppe
	
	The Seller 2 : Henrik Bulskov
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Wolfgang Hoppe

	 Name: Wolfgang Hoppe
 by power of attorney dated
26 May 2021

	
	The Seller 3: Prof. Dr. Joachim Müller-Quernheim
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Joachim Müller-Quernheim

	Prof. Dr. Joachim Müller-Quernheim

			
		  	
 43

  

	
	The Seller 4: Dr. Björn Christian Frye
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Björn Christian Frye

	Dr. Björn Christian Frye
	
	The Seller 5: Marc A. Kessemeier
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Marc A. Kessemeier

	Marc A. Kessemeier
	
	The Seller 6: BG Consulter GmbH
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Wolfgang Hoppe

	Name: Wolfgang Hoppe
	by power of attorney dated 26 May 2021

			
		  	
 44

  

			
	The Seller 7: APARA-Bioscience GmbH
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Ulrich Birsner

	Name:	 	Ulrich Birsner
	Function:	 	director
	
	The Seller 8: Ulrich Birsner
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Ulrich Birsner

	Ulrich Birsner
	
	The Seller 9: Annette Marlene Schätzle
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Wolfgang Hoppe

	Name:	 	Wolfgang Hoppe
	by power of attorney dated 26 May 2021

			
		  	
 45

  

			
	The Buyer: RELIEF THERAPEUTICS Holding SA
	
	Freiburg im Breisgau, Germany, 28 May 2021
	
	 /s/ Peter Kühn

	Name:	 	Dr. Peter Kühn
	by power of attorney dated 25 May 2021

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