Document:

EX-10.23

 Exhibit 10.23 

CONFIDENTIAL TREATMENT REQUESTED 

SECOND AMENDMENT 
 TO 

EXCLUSIVE AGREEMENT 
 This Second
Amendment, effective as of January 15, 2006, by and between the Board of Trustees of the Leland Stanford Junior University, a body having corporate powers under the laws of the State of California (“Stanford”), and Histogenics
Corporation, a Massachusetts corporation (“Histogenics”), serves to amend the April 15, 2001 agreement between Stanford and Licensee as follows: 
  

	 	1.	BACKGROUND 

  

	 	1.1	Stanford and Histogenics Corporation are parties to an Exclusive License Agreement effective April 15, 2001 covering “Restoration of Articular Cartilage Matrix” disclosed in Stanford Docket S98-181
(“Agreement”). 

  

	 	1.2	Stanford and Histogenics have agreed to amend the Agreement with respect to the following provisions: 

  

	 	(a)	term of license; 

  

	 	(b)	royalties; 

  

	 	(c)	creditable payments; 

  

	 	(d)	milestone payments; 

  

	 	(e)	assignment; and 

  

	 	(f)	schedule of diligence milestones. 

  

	 	1.3	As a consequence, the parties are entering into this Second Amendment (“Amendment”) in order to effectuate the parties’ mutual agreement as to these matters. 

 

	 	2.	AMENDMENT 

  

	 	2.1	Term of License Section 3.2 of the Agreement is hereby deleted in its entirety and replaced with the following: 

“Said license is Exclusive, including the right to sublicense pursuant to Article 13, in the Licensed Field of Use for a term commencing
on the Effective Date and ending on the date of the last to expire of the Licensed Patents.” 
  

	 	2.2	Royalties The royalty rate referenced in Section 6.4 of the Agreement is hereby amended from **** of Net Sales to **** of Net Sales. 

 

	 	2.3	Creditable Payments Section 6.5 of the Agreement is amended as follows: 

“Yearly maintenance payments are nonrefundable, but they are creditable each year as follows: 

**** CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 The license maintenance fee for a year may be offset against earned royalty payments clue on
Net Sales occurring in that year. 
 For example: 

if Licensee pays Stanford a $10 maintenance payment for year Y, $15 in earned royalties are clue Stanford for Net Sales in year Y, Licensee
will only need to pay Stanford an additional $5 for that year’s earned royalties. 
 if Licensee pays Stanford a $10 maintenance
payment for year Y, $3 in earned royalties are due Stanford for Net Sales in year Y, Licensee will not need to pay Stanford any earned royalty payment for that year. Licensee will not be able to offset the remaining $7 against a future year’s
earned royalties.” 
  

	 	2.4	Milestone Payments Sections 6.6 (c) and (d) of the Agreement are hereby deleted in their entirety and replaced with the following new Section 6.6(c): 

“(c) $300,000 (Three Hundred Thousand Dollars) upon FDA marketing approval of the first Licensed Product.” 

 

	 	2.5	Assignment Section 15 of the Agreement is deleted in its entirety, and replaced with the following: 

“15.1 Permitted Assignment by Licensee Subject to the conditions described below, Licensee may assign this Agreement as part of a
sale, regardless of whether such a sale occurs through an asset sale, stock sale, merger or other combination, or any other transfer of: 

Licensee’s entire business; or 

that part of Licensee’s business that exercises all rights granted under this Agreement.” 

15.2 Any Other Assignment by Licensee Any other attempt to assign this Agreement by Licensee is null and void. Notwithstanding the
foregoing, any assignment or deemed assignment of this Agreement as a result of a merger or transfer in connection with a mere reincorporation of Licensee in order to change its state of incorporation or domicile shall not be deemed a violation of
this Agreement and is expressly permitted. 
 15.3 Conditions of Assignment Prior to any assignment, the following conditions must be
met: 
 Licensee must give Stanford **** prior written notice of the assignment, including the new assignee’s contact information; and

 the new assignee must agree in writing to Stanford to be bound by this Agreement; and 

  
 **** CERTAIN
INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 ****. 

15.4 After the Assignment Upon a permitted assignment of this Agreement pursuant to this Section 15, Histogenics will be released
of liability under this Agreement and the term “Licensee” in this Agreement will mean the assignee. 
 It is understood and agreed
that the payment provisions and the limitations on assignment contained in Section 15 shall only apply to Histogenics and that once this provision has been complied with, such payment provisions and limitations on assignment shall not apply to
any subsequent assignment by any assignee of Histogenics or its assignees.” 
  

	 	2.6	Diligence Requirements Appendix A of the Agreement is hereby deleted in its entirety and amended as follows: 

“**** 

  
 **** CERTAIN
INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 **** 

Stanford may terminate this Agreement if Histogenics or a sublicensee(s) has not sold Licensed Products(s) for a continuous period of one
(1) year after first commercial sale of Licensed Product(s).” 
  

	 	3.	MISCELANEOUS 

  

	 	3.1	Stanford and Histogenics acknowledge and agree that the Agreement, as amended, is valid and in good standing as of the Effective Date of this Amendment. 

 

	 	3.2	Except as amended hereby, all other provisions of the Agreement remain in full force and effect. 

  

	 	3.3	The parties to this Amendment agree that a copy of the original signature (including an electronic copy) may be used for any and all purposes for which the original signature may have been used. The parties further
waive any right to challenge the admissibility or authenticity of this document in a court of law based solely on the absence of an original signature. 

  
 **** CERTAIN
INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 IN WITNESS WHEREOF, the parties have executed this Amendment in duplicate originals by their duly authorized
officers or representatives. 
  

			
	THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY
		
	Signature:	 	 /s/ Katharine Ku

	Name:	 	 Katharine Ku 

	Title:	 	 Director Technology Licensing

	Date:	 	 June 1, 2006

	
	HISTOGENICS CORPORATION
		
	Signature:	 	 /s/ Laurence J.B. Tarrant

	Name:	 	 Laurence J.B. Tarrant

	Title:	 	 President

	Date:	 	 May 31, 2006EX-10.24

 Exhibit 10.24 

CONFIDENTIAL TREATMENT REQUESTED 

AMENDMENT NO. 3 
 TO THE 

LICENSE AGREEMENT EFFECTIVE 04/15/2001 

BETWEEN 
 STANFORD UNIVERSITY 

AND 
 HISTOGENICS CORPORATION 

Effective as of May 1, 2009, THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (“Stanford”), an institution of higher education
having powers under the laws of the State of California, and Histogenics Corporation a Delaware company having a primary place of business at 830 Winter Street, Waltham MA 02451, agree as follows: 

 

	 	1.	BACKGROUND 

 Stanford and Histogenics are parties to a License Agreement effective
April 15, 2001 (“Original Agreement”) covering Restoration of Articular Cartilage Matrix disclosed in Stanford Docket S98-181. 

Stanford and Histogenics wish to amend the Original Agreement to change the date in section 2.6(A) ****. 

 

	 	2.	AMENDMENT 

 Section 2.6(A) of the Second Amendment dated January 15, 2006 shall
be amended as follows: 
 Replace the third bullet under Section 2.6(A) to read as follows: **** 

 

	 	3.	OTHER TERMS 

  

	 	3.1	All other terms of the Original Agreement, First and Second amendments remain in full force and effect. 

  

	 	3.2	The parties to this document agree that a copy of the original signature (including an electronic copy) may be used for any and all purposes for which the original signature may have been used. The parties further waive
any right to challenge the admissibility or authenticity of this 

 ****CERTAIN INFORMATION HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS
BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

	 	    	document in a court of law based solely on the absence of an original signature. 

 IN WITNESS WHEREOF, the
parties hereto have executed this Amendment No. 3 in duplicate originals by their duly authorized officers or representatives. 
  

			
	THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY
		
	Signature:	 	 /s/ Katharine Ku

	Name:	 	 Katharine Ku

	Title:	 	 Director Technology Licensing

	Date:	 	 May 8, 2009

	
	Histogenics Corporation
		
	Signature:	 	 /s/ F. Ken Andrew

	Name:	 	 F. Ken Andrew

	Title:	 	 CEO & President

	Date:	 	 May 6, 2009EX-10.25

 Exhibit 10.25 

AMENDMENT NO. 4 
 TO THE
LICENSE AGREEMENT EFFECTIVE 04/15/2001 
 BETWEEN 

STANFORD UNIVERSITY 

AND HISTOGENICS CORPORATION 

Effective as of April 29, 2010, THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (“Stanford”), an institution of
higher education having powers under the laws of the State of California, and Histogenics Corporation, a Delaware corporation having its principal offices at 830 Winter Street, 3rd Floor, Waltham, MA 02451 (“Histogenics”) agrees as
follows: 
  

	 	1.	BACKGROUND 

 Stanford and Histogenics are parties to an Exclusive Agreement effective as of
April 15, 2001 (the “Original Agreement”), as amended by the First Amendment to Exclusive Agreement effective as of October 26, 2005 (“Amendment No. 1”), Second Amendment to Exclusive Agreement effective as of
January 15, 2006 (“Amendment No. 2”), and Amendment No. 3 to the License Agreement effective as of May 1, 2009 (“Amendment No. 3 and together with the Original Agreement, Amendment No. 1 and Amendment
No. 2, the “License Agreement”). The License Agreement covers Restoration of Articular Cartilage Matrix disclosed in Stanford Docket S98-181. Stanford and Histogenics wish to amend the License Agreement to change the date by when
Histogenics will have certain products available for commercial sale. 
  

	 	2.	AMENDMENT 

 The third bullet in Section 2.6(A) of Amendment No. 2 is amended to read
as follows: 
  

	 	•	 	Histogenics will have Licensed Products available for commercial sale no later than December 31, 2015 

  

	 	3.	NO OTHER CHANGES 

 Except as set forth in this Amendment No. 4, the License Agreement
remains in full force and effect and is hereby ratified and confirmed. In the event of any conflict between the terms of this Amendment No. 4 and the terms of the License Agreement, the terms of this Amendment No. 4 shall control. 

 

	 	4.	EXECUTION IN COUNTERPARTS 

 This Amendment No. 4 may be executed in one or more
counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. The parties agree that a copy of the original signature (including an
electronic copy) may be used for any and all purposes for which the 

 
original signature may have been used. The parties further waive any right to challenge the admissibility of authenticity of this document in a court of law based solely on the absence of an
original signature. 
  

	 	5.	ENTIRE AGREEMENT 

 The License Agreement, as modified by this Amendment, represents the entire
agreement between Stanford and Histogenics relating to the subject matter hereof and merges and supersedes all prior and contemporaneous discussions, agreements and understandings of every nature relating to the subject matter of the License
Agreement. 
 IN WITNESS WHEREOF, the parties have executed this Amendment No. 4 in duplicate originals by their duly authorized
officers or representatives. 
  

			
	THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY
		
	Signature:	 	 /s/ Katharine Ku

	Name:	 	 Katharine Ku

	Title:	 	 Director Technology Licensing

	Date:	 	 April 29, 2010

	
	HISTOGENICS CORPORATION
		
	Signature:	 	 /s/ F. Ken Andrew

	Name:	 	 F. Ken Andrews

	Title:	 	 CEO & President

	Date:	 	 4-29-10

  
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